Document:

Exhibit
10.8

 

[*****] = Certain information contained
in this document, marked by brackets, has been omitted because it is both not material and would be competitively harmful if publicly
disclosed.

  

 

 

 

 

 

AGREEMENT
AND PLAN OF MERGER

 

among:

 

MoneyLion
Inc.,

a
Delaware corporation;

 

WTI
Merger Sub, Inc.,

a
Delaware corporation;

 

Wealth
Technologies Inc.,

a
Delaware corporation;

 

and

 

WT
IP Holdings, LLC, as Agent

(for the limited purposes described herein)

 

 

 

 

Dated
as of December 31, 2020

 

 

 

 

 

 

 

     

     

    

 

Table
of Contents

 

	 	 	 	 	 	 	Page
	 	 	 	 	 	 	 
	SECTION 1.	 	Description of Transaction	 	1
	 	 	 	 	 	 	 
	 	 	1.1	 	Merger of Merger Sub into the Company	 	1
	 	 	1.2	 	Effect of the Merger	 	1
	 	 	1.3	 	Closing; Effective Time	 	2
	 	 	1.4	 	Certificate of Incorporation and Bylaws	 	2
	 	 	1.5	 	Directors and Officers	 	2
	 	 	1.6	 	Effect on Securities	 	2
	 	 	1.7	 	Treatment of Company Stock Options, Company Warrants and Company SAFEs	 	3
	 	 	1.8	 	Holdback Shares	 	3
	 	 	1.9	 	Surrender of Certificates; Exchange Procedures; Distribution of Merger Consideration	 	4
	 	 	1.10	 	Withholding Taxes	 	4
	 	 	1.11	 	Further Action	 	4
	 	 	 	 	 	 	 
	SECTION 2.	 	Representations and Warranties of the Company and Equityholders	 	4
	 	 	 	 	 	 	 
	 	 	2.1	 	Due Organization	 	4
	 	 	2.2	 	Certificate of Incorporation and Bylaws; Records	 	5
	 	 	2.3	 	Capitalization	 	5
	 	 	2.4	 	No Subsidiaries	 	6
	 	 	2.5	 	Authority; Binding Nature of Agreement	 	6
	 	 	2.6	 	Non-Contravention; Consents	 	6
	 	 	2.7	 	Financial Statements	 	7
	 	 	2.8	 	Absence of Changes	 	8
	 	 	2.9	 	Title to Assets	 	10
	 	 	2.10	 	Bank Accounts; Receivables	 	10
	 	 	2.11	 	Equipment; Leaseholds	 	10
	 	 	2.12	 	Intellectual Property	 	11
	 	 	2.13	 	Contracts	 	15
	 	 	2.14	 	Liabilities	 	17
	 	 	2.15	 	Compliance with Legal Requirements	 	17
	 	 	2.16	 	Governmental Authorizations	 	17
	 	 	2.17	 	Tax Matters	 	17
	 	 	2.18	 	Employee and Labor Matters; Benefit Plans	 	19
	 	 	2.19	 	Environmental Matters	 	23
	 	 	2.20	 	Insurance	 	23
	 	 	2.21	 	Related Party Transactions	 	23
	 	 	2.22	 	Legal Proceedings; Orders	 	24
	 	 	2.23	 	Customers and Vendors	 	24
	 	 	2.24	 	Powers of Attorney	 	25
	 	 	2.25	 	Certain Business Practices	 	25
	 	 	2.26	 	Brokers	 	25
	 	 	2.27	 	Full Disclosure	 	25

 

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Table
of Contents

(continued)

 

	 	 	 	 	 	 	Page
	 	 	 	 	 	 	 
	SECTION 3.	 	Representations and Warranties of Parent and Merger Sub	 	25
	 	 	 	 	 	 	 
	 	 	3.1	 	Due Organization; Subsidiaries; Etc	 	25
	 	 	3.2	 	Authority; Binding Nature of Agreement	 	25
	 	 	3.3	 	Non-Contravention; Consents	 	26
	 	 	 	 	 	 	 
	SECTION 4.	 	Additional Covenants of the Parties	 	26
	 	 	 	 	 	 	 
	 	 	4.1	 	Tax Matters	 	26
	 	 	4.2	 	Option Issuances	 	27
	 	 	 	 	 	 	 
	SECTION 5.	 	Conditions Precedent to Obligations of Parent and Merger Sub	 	27
	 	 	 	 	 	 	 
	 	 	5.1	 	Accuracy of Representations	 	27
	 	 	5.2	 	Performance of Covenants	 	27
	 	 	5.3	 	Company Stockholder Approval	 	27
	 	 	5.4	 	Consents	 	27
	 	 	5.5	 	Agreements and Documents	 	29
	 	 	 	 	 	 	 
	SECTION 6.	 	Indemnification, Etc.	 	29
	 	 	 	 	 	 	 
	 	 	6.1	 	Survival of Representations, Etc	 	29
	 	 	6.2	 	Indemnification by Equityholders	 	30
	 	 	6.3	 	Indemnification Procedures	 	31
	 	 	6.4	 	Agent	 	32
	 	 	6.5	 	No Contribution	 	33
	 	 	6.6	 	Exclusive Remedy	 	33
	 	 	 	 	 	 	 
	SECTION 7.	 	Miscellaneous Provisions	 	33
	 	 	 	 	 	 	 
	 	 	7.1	 	Further Assurances	 	33
	 	 	7.2	 	Fees and Expenses	 	34
	 	 	7.3	 	Attorneys’ Fees	 	34
	 	 	7.4	 	Notices	 	34
	 	 	7.5	 	Headings	 	35
	 	 	7.6	 	Counterparts	 	35
	 	 	7.7	 	Governing Law	 	35
	 	 	7.8	 	Submission to Jurisdiction	 	35
	 	 	7.9	 	Successors and Assigns	 	35
	 	 	7.10	 	Specific Performance	 	36
	 	 	7.11	 	Waiver	 	36
	 	 	7.12	 	Amendments	 	36
	 	 	7.13	 	Severability	 	36
	 	 	7.14	 	Parties in Interest	 	36
	 	 	7.15	 	Entire Agreement	 	36
	 	 	7.16	 	Construction	 	37

 

    ii

     

    

 

AGREEMENT
AND PLAN OF MERGER

 

This
Agreement and Plan of Merger (the “Agreement”)
is made and entered into as of December 31, 2020, by and among: MoneyLion Inc.,
a Delaware corporation (“Parent”); WTI Merger Sub, Inc., a Delaware
corporation and wholly-owned subsidiary of Parent (“Merger Sub”); Wealth
Technologies Inc., a Delaware corporation (the “Company” and, together with Parent and Merger Sub, each
a “Party” and collectively, the “Parties”; and WT IP
Holdings, LLC, a Delaware limited liability company, solely in the capacity
as Agent and only for the express purposes provided for herein and for no other purpose (the “Agent”). Certain capitalized
terms used in this Agreement are defined in Exhibit A.

 

Recitals

 

A. Prior
to or contemporaneously with the execution and delivery of this Agreement, and as a condition and inducement for Parent’s willingness
to enter into this Agreement, WT IP Holdings, LLC has executed and delivered to Parent a License Agreement, in the form attached hereto
as Exhibit C (the “License Agreement”).

 

B. The
board of directors of Parent believe it is in the best interests of Parent and its respective stockholders that Parent acquire the Company
through the statutory merger of Merger Sub with and into the Company in accordance with this Agreement and the DGCL (the “Merger”).
Upon consummation of the Merger, Merger Sub will cease to exist, and the Company will become a wholly-owned subsidiary of Parent.

 

C. The
board of directors of the Company has approved this Agreement, the Merger and the other transactions contemplated by this Agreement and
determined that this Agreement and the Merger are advisable and in the best interest of the Company and its stockholders.

 

D. Parent,
the Company and Merger Sub desire to make certain representations and warranties and other agreements in connection with the Merger.

 

NOW,
THEREFORE, in consideration of the premises and the mutual representations, warranties, covenants and agreements herein contained,
and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Parties, intending
to be legally bound, hereby agree as follows:

 

AGREEMENT

 

The
Parties agree as follows:

 

SECTION
1. Description
of Transaction

 

1.1 Merger
of Merger Sub into the Company. Upon the terms and subject to the conditions set forth in this Agreement, at the Effective Time,
Merger Sub shall be merged with and into the Company, and the separate existence of Merger Sub shall cease. The Company will continue
its corporate existence under the DGCL as the surviving corporation and a wholly-owned subsidiary of Parent (the “Surviving
Company”).

 

1.2 Effect
of the Merger. The Merger shall have the effects set forth in this Agreement and in the applicable provisions of the DGCL.

 

    1

     

    

  

1.3 Closing;
Effective Time. The consummation of the transactions contemplated by this Agreement (the “Closing”) shall
take place remotely via the exchange of documents and signatures (or their electronic counterparts) effective as of 12:01 a.m. Eastern
Time on the date hereof. The date on which the Closing occurs is referred to in this Agreement as the “Closing Date”.
Subject to the provisions of this Agreement, a certificate of merger satisfying the applicable requirements of the DGCL (the “Certificate
of Merger”) shall be duly executed by the Company and Merger Sub and, concurrently with or as soon as practicable on the Closing
Date, delivered to the Secretary of State of the State of Delaware for filing. The Merger shall become effective upon the date and time
that the Certificate of Merger is filed with the Secretary of State of the State of Delaware (the “Effective Time”).

 

1.4 Certificate
of Incorporation and Bylaws. Unless otherwise determined by Parent prior to the Effective Time, at the Effective Time:

 

(a) the
certificate of incorporation of Merger Sub, as in effect immediately prior to the Effective Time, shall be the certificate of incorporation
of the Surviving Company until thereafter changed or amended as provided by the DGCL or such certificate of incorporation or the bylaws
of the Surviving Company; and

 

(b) the
bylaws of Merger Sub, as in effect immediately prior to the Effective Time, shall be the bylaws of the Surviving Company until thereafter
changed or amended as provided by the DGCL or such bylaws of the Surviving Company.

 

1.5 Directors
and Officers. The directors and officers of the Surviving Company immediately after the Effective Time shall be those individuals
designated by Parent in its sole discretion.

 

1.6 Effect
on Securities. Subject to Sections 1.9, 1.10 and 1.11 and 1.12, at the Effective Time, by virtue
of the Merger and without any further action on the part of Parent, Merger Sub, the Company or the Equityholders:

 

(a) each
share of Company Stock that is owned by Parent, the Company, by any direct or indirect wholly-owned Subsidiary of the Company, or by
Merger Sub (as treasury stock or otherwise), shall automatically be cancelled and retired and shall cease to exist, and no cash or other
consideration shall be delivered or deliverable in exchange therefor;

 

(b) each
share of common stock, par value $0.0001, of Merger Sub outstanding immediately prior to the Effective Time shall be converted into and
become one newly issued, fully paid and non-assessable share of common stock, par value $0.0001, of the Surviving Company; and

 

(c) Company
Common Stock. Each share of the Company’s Common Stock, par value $0.0001 per share (the “Company Common Stock”),
issued and outstanding immediately prior to the Effective Time (other than shares to be cancelled in accordance with Section 1.6(a))
will, by virtue of the Merger, be converted into the right to receive, subject to the execution and delivery to the Parent by the holder
of such share of a Letter of Transmittal, the Per Common Share Closing Shares, plus, the contingent right to receive the
Per Common Share Holdback Shares. As of the Effective Time, all such shares of Company Common Stock shall no longer be outstanding and
shall automatically be cancelled and retired and shall cease to exist. No fractional shares of Parent C-1 Preferred Stock shall be issued
and in lieu of any such fractional share to which any holder of Company Common Stock would otherwise be entitled, the number of shares
of Parent C-1 Preferred Stock to be issued to any holder of Company Common Stock shall be rounded down to the nearest whole share.

 

    2

     

    

 

(d) Company
Preferred Stock. Each share of the Company’s Series Seed Preferred Stock, par value $0.0001 per share (the
“Company Series Seed Preferred Stock”), issued and outstanding immediately prior to the Effective Time (other than
shares to be cancelled in accordance with Section 1.6(a)) will, by virtue of the Merger, be converted into the right to receive,
subject to the execution and delivery to Parent by the holder of such share of a Letter of Transmittal, the Per Preferred Share Closing
Shares, plus, the contingent right to receive the Per Preferred Share Holdback Shares. As of the Effective Time, all such
shares of Company Series Seed Preferred Stock shall no longer be outstanding and shall automatically be cancelled and retired and shall
cease to exist. No fractional shares of Parent C-1 Preferred Stock shall be issued and in lieu of any such fractional share to which
any holder of Company Series Seed Preferred Stock would otherwise be entitled, the number of shares of Parent C-1 Preferred Stock to
be issued to any Company Series Seed Preferred Stock shall be rounded down to the nearest whole share.

 

1.7 Treatment
of Company Stock Options, Company Warrants and Company SAFEs.

 

 (a) At
the Effective Time, each Company Option that is outstanding and unexercised immediately prior to the Effective Time shall be cancelled.
As of the Effective Time, Parent shall issue new Parent Stock Options to acquire that number of whole shares of Parent Common Stock,
to such persons, in such amounts, and with such vesting conditions, as are set forth in Schedule 1.7(a), and the exercise price of each
Parent Stock Option shall be determined in a manner consistent with the requirements of Section 409A of the Code.

 

 (b) The
Company shall take all action that may be reasonably necessary (under the Company Equity Plan or otherwise) to effectuate the provisions
of this Section 1.7 and shall use commercially reasonable efforts to ensure that, from and after the Effective Time, each
holder of a Company Option that was outstanding immediately prior to the Effective Time that was cancelled as provided in this Section 1.7
shall cease to have any rights with respect thereto. Except as otherwise provided in subsection (a), the holders of Company Options will
have no further rights in respect of any Company Options from and after the Effective Time, and each of the Company Equity Plan and any
other plan, program or arrangement providing for the issuance or grant of any other interest in respect of Company Stock shall be terminated
by the Company as of the Effective Time.

 

  (c) At
the Effective Time, each Company Warrant that is unexpired, unexercised and outstanding immediately prior to the Effective Time shall,
on the terms and subject to the conditions set forth in this Agreement, terminate in its entirety at the Effective Time.

 

  (d) At
the Effective Time, each Company SAFE that is outstanding immediately prior to the Effective Time shall, on the terms and subject to
the conditions set forth in this Agreement, terminate in its entirety at the Effective Time. The holder of each Company SAFE shall be
entitled to receive therefor, subject to the execution and delivery to Parent by the holder of such Company SAFE of a Letter of Transmittal,
its pro rata share of the Per Common Share Closing Shares and Per Common Share Holdback Shares.

 

1.8 Holdback
Shares. The Holdback Shares shall be withheld from the Aggregate Closing Shares for the purpose of securing the obligations of
the Company under Article 6. The Holdback Shares may be reduced by: (i) the portion of the Holdback Shares, if any, used to satisfy the
obligations of the Company to the Indemnitees in accordance with Article 6; and (ii) the portion of the Holdback Shares, if any, to the
extent reasonably necessary to serve as security for any unresolved or unsatisfied claims for Losses (the “Reserve Shares”).
The Holdback Shares remaining after giving effect to the reductions set forth in clauses (i) and (ii) in the immediately preceding sentence
shall be referred to herein as the “Remaining Holdback Shares.” The Remaining Holdback Shares shall be disbursed to
the Company Stockholders on December 31, 2021 (the “Holdback Shares Release Date”) and the Reserve Shares shall be
disbursed to the Company Stockholders upon the final resolution of any unresolved claim to which such Reserve Shares were subject.

 

    3

     

    

 

1.9 Surrender
of Certificates; Exchange Procedures; Distribution of Merger Consideration.

 

(a) Promptly
after the Effective Time, the Parent will send to the holders of Company Stock a letter of transmittal, in substantially the form attached
hereto as Exhibit B (the “Letter of Transmittal”), containing instructions for use in effecting the surrender
of Company Stock Certificates. Upon surrender of a Company Stock Certificate to the Parent for exchange, together with a duly executed
Letter of Transmittal and such other documents as may be reasonably required by Parent, the holders of Company Stock shall be entitled
to receive in exchange therefor the Per Common Share Closing Shares, less the Per Common Share Holdback Shares, or the Per Preferred
Share Closing Shares, less the Per Preferred Share Holdback Shares, as applicable, and the Company Stock Certificate so surrendered shall
be canceled. Until surrendered as contemplated by this Section 1.9, each Company Stock Certificate shall be deemed, from and after
the Effective Time, to represent only the right to receive the applicable portion of the Merger Consideration as contemplated by Section
1.6. If any Company Stock Certificate shall have been lost, stolen or destroyed, the Parent may, in its discretion and as a condition
precedent to the payment of the applicable portion of the Merger Consideration, require the owner of such lost, stolen or destroyed Company
Stock Certificate to provide an appropriate affidavit as indemnity against any claim that may be made against the Parent or the Surviving
Company with respect to such Company Stock Certificate.

 

(b) Neither
the Parent nor the Surviving Company shall be liable to any holder or former holder of any equity interest of the Company for any cash
amounts, delivered to any public official pursuant to any applicable abandoned property, escheat or similar law.

 

1.10 Withholding
Taxes. Each of the Parent and the Surviving Company shall be entitled to deduct and withhold from the amounts payable or otherwise
deliverable pursuant to this Agreement such amounts as the Parent or the Surviving Company may be required to deduct or withhold therefrom
under the Code or under any provision of state, local or foreign Tax Law. To the extent such amounts are so deducted or withheld, such
amounts shall be treated for all purposes under this Agreement as having been paid to the Person to whom such amounts would otherwise
have been paid. The applicable withholding agent will promptly pay or cause to be paid any amounts withheld pursuant to this Section
for applicable Taxes to the appropriate Governmental Body.

 

1.11 Further
Action. If, at any time after the Effective Time, any further action is determined by Parent or the Surviving Company to be necessary
or desirable to carry out the purposes of this Agreement or to vest the Surviving Company with full right, title and possession of and
to all rights and property of Merger Sub and the Company, the officers and directors of the Surviving Company and Parent shall be fully
authorized (in the name of Merger Sub, in the name of the Company and otherwise) to take such action.

 

SECTION
2. Representations
and Warranties of the Company and Equityholders

 

The
Company and each Equityholder represents and warrants, severally and not jointly, to and for the benefit of the Indemnitees, as of the
date of this Agreement, subject to such exceptions as are specifically disclosed in the disclosure schedule (referencing the appropriate
section and subsection numbers) supplied by the Company to Parent (the “Disclosure Schedule”) that the following statements
contained in this Section 2 are true and correct as of the date hereof:

 

2.1 Due
Organization.

 

(a) The
Company is a Delaware corporation duly organized, validly existing and subsisting under the laws of the State of Delaware and has all
necessary corporate power and authority: (i) to conduct its business in the manner in which its business is currently being conducted;
(ii) to own and use its assets in the manner in which its assets are currently owned and used; and (iii) to perform its obligations under
all Company Contracts.

 

    4

     

    

 

(b) The
Company is not required to be qualified, authorized, registered or licensed to do business as a foreign corporation in any jurisdiction
other than the jurisdictions identified in Section 2.1(b) of the Disclosure Schedule. The Company is in good standing as a foreign
corporation in each of the jurisdictions identified in Section 2.1(b) of the Disclosure Schedule except as set forth in Section
2.1(b) of the Disclosure Schedule.

 

2.2 Certificate
of Incorporation and Bylaws; Records.

 

(a) The
Company has delivered to Parent accurate and complete copies of: (i) the Company’s certificate of incorporation and bylaws, including
all amendments thereto and each as so delivered is in full force and effect and in compliance with applicable Law; (ii) the stock records
of the Company; and (iii) the minutes and other records of the meetings and other proceedings (including any actions taken by written
consent or otherwise without a meeting) of the board of directors of the Company and all committees of the board of directors of the
Company. There have been no formal meetings or other proceedings of the board of directors of the Company or any committee of the board
of directors of the Company that are not fully reflected in such minutes or other records. There has not been any violation of any of
the provisions of the Company’s certificate of incorporation or bylaws, and the Company has not taken any action that is inconsistent
in any material respect with any resolution adopted by the Company’s board of directors or any committee of the Company’s
board of directors. The books of account, stock records, minute books and other records of the Company are accurate, up-to-date and complete
in all material respects and have been maintained in accordance with customary business practices.

 

(b) Section
2.2(b) of the Disclosure Schedule accurately sets forth (i) the names of the members of the Company’s board of directors
and (ii) the names and titles of the Company’s officers.

 

2.3 Capitalization.

 

(a) The
authorized capital stock of the Company consists of (i) 233,049 shares of Company Common Stock, of which 104,400 shares are issued and
outstanding; and (ii) 80,276 shares of Company Series Seed Preferred Stock, all of which shares are issued and outstanding. Section
2.3(a) of the Disclosure Schedule sets forth, as of the date of this Agreement, the names of each holder of Company Stock, the number
of shares of Company Stock held by such holder and the last known addresses of such holder. All of the issued and outstanding shares
of Company Stock have been duly authorized and validly issued, and are fully paid and non-assessable.

 

(b) Immediately
prior to the date of this Agreement, there are outstanding (i) Company Options to purchase 6,579 shares of Company Common Stock, all
of which Company Options were granted pursuant to the Company Equity Plan; (ii) no Company Warrants; and (iii) $1,000,000 of Company
SAFEs (the “Company SAFEs”).

 

    5

     

    

 

(c) Section
2.3(c) of the Disclosure Schedule accurately sets forth, with respect to each Company Option that is outstanding immediately prior
to the date of this Agreement: (i) the name of the holder of such Company Option; (ii) the total number of shares of Common Stock that
are subject to such Company Option; (iii) the date on which such Company Option was granted or issued and the term of such Company Option;
(iv) the vesting schedule and any acceleration terms for such Company Option; (v) the exercise price per share of such Company Option;
and (vi) whether such Company Option has been designated an “incentive stock option” as defined in Section 422 of the Code
or is subject to Section 409A of the Code. Except as set forth in in Section 2.3(c) of the Disclosure Schedule, there is no: (A)
outstanding subscription, option, call, warrant or right (whether or not currently exercisable) to acquire from the Company any shares
of the equity interest or other securities of the Company; (B) outstanding security, instrument or obligation that is or may become convertible
into or exchangeable for any shares of the equity interest or other securities of the Company; (C) Contract under which the Company is
or may become obligated to sell or otherwise issue any shares of its equity interest or any other securities; or (D) condition or circumstance
that would reasonably be expected to give rise to or provide a reasonable basis for the assertion of a claim by any Person to the effect
that such Person is entitled to acquire or receive any shares of equity interest or other securities of the Company or any portion of
the Merger Consideration payable in connection with the Merger. Except for the Company Equity Plan, the Company has never adopted, sponsored
or maintained any stock option plan or any other plan or agreement providing for equity type compensation to any Person. A true and complete
copy of all agreements and instruments relating to or issued under the Company Equity Plan have been made available to Parent and such
agreements and instruments have not been amended, modified or supplemented, and there are no agreements to amend, modify or supplement
such agreements or instruments from the forms delivered to Parent.

 

(d) All
outstanding shares of Company Stock have been issued and granted in compliance with (i) all applicable securities laws and other applicable
Legal Requirements and (ii) all requirements set forth in applicable Contracts.

 

2.4 No
Subsidiaries. Except as set forth in in Section 2.4 of the Disclosure Schedule, the Company does not own, beneficially
or otherwise, any shares or other securities of, or any direct or indirect equity interest in, any Entity. Except for the Company’s
obligations under the Contribution Agreement, the Company has not agreed and is not obligated to make any future investment in or capital
contribution to any Entity. The Company has not guaranteed and is not responsible or liable for any obligation of any of the Entities
in which it has owned any equity interest.

 

2.5 Authority;
Binding Nature of Agreement. The Company has the corporate power and authority to enter into and to perform its obligations under
this Agreement; and the execution, delivery and performance by the Company of this Agreement have been duly authorized by all necessary
action on the part of the Company and its board of directors. The board of directors of the Company has unanimously (a) authorized and
approved the execution, delivery and performance of this Agreement by the Company and the transactions contemplated hereby, (b) determined
that the terms of the Merger are advisable and fair to, and in the best interests of, the Stockholders and (c) determined to recommend
the approval of the Merger and the adoption of this Agreement and the consummation of the transactions contemplated hereby to the Stockholders.
This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with
its terms, subject to (i) laws of general application relating to bankruptcy, insolvency and the relief of debtors, and (ii) rules of
law governing specific performance, injunctive relief and other equitable remedies.

 

2.6 Non-Contravention;
Consents. Neither the execution, delivery or performance of this Agreement or any of the other agreements referred to in this
Agreement, nor the consummation of the Merger or any of the other transactions contemplated by this Agreement, will directly or indirectly
(with or without notice or lapse of time):

 

(a) contravene,
conflict with or result in a violation of (i) any of the provisions of the Company’s certificate of incorporation or bylaws,
or (ii) any resolution adopted by the Company’s board of directors or any committee of the Company’s board of directors
or by the Stockholders;

 

    6

     

    

 

(b) contravene,
conflict with or result in a violation of, or give any Governmental Body or other Person the right to challenge any of the transactions
contemplated by this Agreement or to exercise any remedy or obtain any relief under, any Legal Requirement or any order, writ, injunction,
judgment or decree to which the Company, or any of the assets owned or used by the Company, is subject;

 

(c) contravene,
conflict with or result in a violation of any of the terms or requirements of, or give any Governmental Body the right to revoke, withdraw,
suspend, cancel, terminate or modify, any Governmental Authorization that is held by the Company or that otherwise relates to the Company’s
business or to any of the assets owned or used by the Company;

 

(d) contravene,
conflict with or result in a violation or breach of, or result in a default under, any provision of any Company Contract, or give any
Person the right to (i) declare a default or exercise any remedy under any such Company Contract, (ii) accelerate the maturity
or performance of any such Company Contract, or (iii) cancel, terminate or modify any such Company Contract;

 

(e) result
in the imposition or creation of any lien or other Encumbrance upon or with respect to any asset owned or used by the Company; or

 

(f) result
in the disclosure or delivery to any escrow holder or other Person of any source code for any Company IP or the transfer of any material
asset of the Company to any Person.

 

Except
as may be required by the Act, the Company is not and will not be required to make any filing with or give any notice to, or to obtain
any Consent from, any Person in connection with (x) the execution, delivery or performance of this Agreement or any of the other agreements
referred to in this Agreement, or (y) the consummation of the Merger or any of the other transactions contemplated by this Agreement.
(For purposes of this Agreement, the Company will be deemed to be or to have been “required” to obtain a Consent if the failure
to obtain such Consent (i) would result in the imposition of any liability or obligation on, or the expansion of any liability or
obligation of, the Company or (ii) would result in the termination, modification or limitation of any contractual or other right
of the Company that is material to the business of the Company.)

 

2.7 Financial
Statements.

 

(a) The
Company has delivered to Parent the following financial statements (collectively, the “Company Financial Statements”):

 

(i) the
unaudited balance sheet of the Company as of December 31, 2019 (the “Balance Sheet Date”) and the related unaudited
income statement, statement of stockholders’ equity and statement of cash flows of the Company for the year then ended; and

 

(ii) the
unaudited balance sheet of the Company as of August 31, 2020 (such date, the “Interim Balance Sheet Date”, and such
balance sheet, the “Company Unaudited Interim Balance Sheet”), and the related unaudited income statement and statement
of cash flows of the Company for the eight (8) months then ended.

 

(b) The
Company Financial Statements are accurate and complete in all material respects and present fairly the financial position of the Company
as of the respective dates thereof and the results of operations and cash flows of the Company for the periods covered thereby.

 

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(c) The
Company has used commercially reasonable efforts with respect to its internal accounting controls to provide reasonable assurances that:
(i) the Company’s business is operated in accordance with management’s general or specific authorization; (ii) transactions
are recorded as necessary to permit preparation of accurate financial statements of the Company, and to maintain accountability for items
therein; (iii) access to properties and assets is permitted only in accordance with management’s general or specific authorization;
and (iv) all the Company’s control accounts (including its cash accounts) are reconciled with the ledgers of the Company on a monthly
basis and appropriate actions are taken with respect to any differences on a timely basis. Neither the Company nor, to the Company’s
Knowledge, any current or former employee, consultant, director or manager of the Company has identified or been made aware of any fraud
that involves the Company’s management or other current employees, consultants, directors or management of the Company who have
a role in the preparation of the financial statements or the internal accounting controls utilized by the Company, or any claim or allegation
regarding any of the foregoing. To the Company’s Knowledge, there is and has been no complaint, allegation, assertion or claim,
whether written or oral, in each case regarding deficient accounting or auditing practices, procedures, methodologies or methods of the
Company or its internal accounting controls or any material inaccuracy in the Company Financial Statements. At the Interim Balance Sheet
Date, there were no material loss contingencies (as such term is used in the Financial Accounting Standards Board Accounting Standards
Codification 450 Contingencies (“ASC 450”)) that are not adequately provided for in the Company Unaudited Interim
Balance Sheet as required by ASC 450.

 

2.8 Absence
of Changes.

 

(a) Since
the Balance Sheet Date, (i) the Company has conducted its business and operations in the ordinary course and consistent with past practice,
(ii) except for the transactions reflected in the Contribution Agreement, the Company has not engaged in any transactions outside the
ordinary course of business, (iii) the Company has continued to satisfy all of its account payables on time and (iv) there has not been
any Material Adverse Effect on the Company.

 

(b) Since
the Balance Sheet Date:

 

(i) with
the exception of the transfer of assets effected by the Contribution Agreement, there has not been any material adverse change in the
Company’s business, condition, assets, liabilities, operations, financial performance or prospects, and no event has occurred that,
in combination with any other events or circumstances, will, or would reasonably be expected to, have a Material Adverse Effect on the
Company;

 

(ii) there
has not been any material loss, damage or destruction to, or any material interruption in the use of, any of the Company’s assets
(whether or not covered by insurance);

 

(iii) with
the exception of the Company’s distribution to its shareholders of all of the ownership interest in WT IP Holdings, LLC, the Company
has not declared, accrued, set aside or paid any dividend or made any other distribution in respect of any shares of capital stock, and
has not repurchased, redeemed or otherwise reacquired any shares of capital stock or other securities;

 

(iv) the
Company has not sold, issued or authorized the issuance of (i) any equity interest or other security (except for Company Stock issued
upon the exercise of outstanding Company Options), (ii) any option or right to acquire any equity interest or any other security (except
for Company Options described in Section 2.3(c) of the Disclosure Schedule), or (iii) any instrument convertible into or exchangeable
for any equity interest or other security;

 

(v) the
Company has not amended or waived any of its rights under any provision of any agreement evidencing any outstanding Company Option or
any restricted equity purchase agreement;

 

    8

     

    

 

(vi) there
has been no amendment to the Company’s bylaws, and the Company has not effected or been a party to any recapitalization, reclassification
of shares, stock split, reverse stock split or similar transaction;

 

(vii) Except
for the formation of WT IP Holdings, LLC with which the Company entered into the Contribution Agreement, and except as set forth in Section
2.8(b)(vii) of the Disclosure Schedule, the Company has not formed any subsidiary or acquired any equity interest or other interest
in any other Entity;

 

(viii) the
Company has not made any capital expenditure which, when added to all other capital expenditures made on behalf of the Company since
the Balance Sheet Date, exceeds $10,000;

 

(ix) the
Company has not (i) entered into or permitted any of the assets owned or used by it to become bound by any Contract that is or would
constitute a Material Contract with the exception of the transfer of assets effected by the Contribution Agreement, or (ii) amended or
prematurely terminated, or waived any material right or remedy under, any Material Contract;

 

(x) the
Company has not (i) acquired, leased or licensed any right or other asset from any other Person except for the license obtained by the
Company under the [*****] License, (ii) sold or otherwise disposed of, or leased or licensed, any right or other asset to any other Person
(other than non-exclusive licenses of the Company’s Intellectual Property Rights entered in the ordinary course of business consistent
with past practice) with the exception of the transfer of assets effected by the Contribution Agreement, or (iii) waived or relinquished
any right, except for immaterial rights or other immaterial assets acquired, leased, licensed or disposed of in the ordinary course of
business and consistent with the Company’s past practices;

 

(xi) the
Company has not written off as uncollectible, or established any reserve with respect to, any account receivable or other Indebtedness;

 

(xii) the
Company has not incurred any Indebtedness, made any pledge of any of its assets or otherwise permitted any of its assets to become subject
to any Encumbrance;

 

(xiii) the
Company has not (i) lent money to any Person (other than pursuant to routine travel advances made to employees in the ordinary course
of business) or (ii) incurred or guaranteed any Indebtedness;

 

(xiv) the
Company has not (i) established or adopted any Company Employee Plan or entered into any Company Employee Agreement, (ii) paid
any bonus or made any profit-sharing or similar payment to, or increased the amount of the wages, salary, commissions, fringe benefits
or other compensation or remuneration payable to, any of its directors, officers or employees, or (iii) hired any new employee whose
aggregate annual compensation is expected to exceed $100,000;

 

(xv) the
Company has not changed any of its methods of accounting or accounting practices;

 

(xvi) the
Company has not made any Tax election;

 

(xvii) the
Company has not commenced or settled any Legal Proceeding;

 

    9

     

    

 

(xviii) the
Company has not entered into any material transaction or taken any other material action outside the ordinary course of business or inconsistent
with its past practices with the exception of the transactions reflected in the Contribution Agreement and the distribution to the Company’s
shareholders of all of the membership interests in WT IP Holdings, LLC; and

 

(xix) the
Company has not agreed or committed to take any of the actions referred to in clauses “(iii)” through “(xviii)”
above.

 

2.9 Title
to Assets. The Company owns, and has good, valid and marketable title to, all assets (a) reflected on the Company Financial Statements
and purported to be owned by it and (b) all assets acquired by the Company since the Interim Balance Sheet Date, except in the case of
both subsections (a) and (b), for assets disposed of by the Company since the Interim Balance Sheet Date in the ordinary course of business
consistent with past practice, and except for the transfer of assets effected by the Contribution Agreement. All of said assets are owned
by the Company free and clear of any Encumbrances, except for (a) any lien for current Taxes not yet due and payable, and (b) minor liens
that have arisen in the ordinary course of business and that do not (in any case or in the aggregate) materially detract from the value
of the assets subject thereto or materially impair the operations of the Company. The assets reflected on the Company Financial Statements
collectively constitute all of the properties, rights, interests and other tangible and intangible assets necessary to enable the Company
to conduct its business in the manner in which such business is currently being conducted.

 

2.10 Bank
Accounts; Receivables.

 

(a) Section
2.10(a) of the Disclosure Schedule provides accurate information with respect to the names and locations of all banks and other financial
institutions at which the Company maintains accounts of any nature and the names of all persons authorized to draw thereon or make withdrawals
therefrom.

 

(b) Section
2.10(b) of the Disclosure Schedule provides an accurate and complete breakdown and aging of all accounts receivable, notes receivable
and other receivables of the Company as of the Interim Balance Sheet Date. All existing accounts receivable of the Company (including
those accounts receivable reflected on the Company Unaudited Interim Balance Sheet that have not yet been collected and those accounts
receivable that have arisen since the Interim Balance Sheet Date through the date of Closing and have not yet been collected) (i) represent
valid obligations of customers of the Company arising from bona fide transactions entered into in the ordinary course of business and
(ii) are current and are anticipated to be collected in full when due, without any counterclaim or set off (net of the allowance for
doubtful accounts specified in the Company Unaudited Interim Balance Sheet).

 

2.11 Equipment;
Leaseholds.

 

(a) All
material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being
put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company’s business
in the manner in which such business is currently being conducted and as presently proposed to be conducted. Section 2.11(a)
of the Disclosure Schedule accurately identifies all equipment, materials, prototypes, tools, supplies, furniture, fixtures, improvements
and other tangible assets owned by the Company and used for the conduct of the Company’s business, with an individual book value
in excess of $500.

 

(b) Section 2.11(b)
of the Disclosure Schedule identifies all assets that are material to the business of the Company and that are being leased or licensed
to the Company.

 

    10

     

    

 

(c) The
Company does not own any real property or any interest in real property, except for the leaseholds created under the real property leases
identified in Section 2.11(c) of the Disclosure Schedule. Section 2.11(c) of the Disclosure Schedule provides an accurate
and complete description of the premises covered by said leases and the facilities located on such premises.

 

2.12 Intellectual
Property.

 

(a) Products
and Services. Section 2.12(a) of the Disclosure Schedule accurately identifies and describes each Company Product currently
being designed, developed, manufactured, marketed, distributed, provided, licensed, offered or sold by the Company.

 

(b) Registered
IP; Other Seller IP. Section 2.12(b)(i) of the Disclosure Schedule accurately identifies: (i) each item of Registered IP in
which the Company has or purports to have an ownership interest of any nature (whether exclusively, jointly with another Person, or otherwise);
(ii) the jurisdiction in which such item of Registered IP has been registered or filed and the applicable registration or serial number,
filing and registration date, owner of record and status; and (iii) any other Person that has an ownership interest in such item of Registered
IP and the nature of such ownership interest. The Company has provided to Parent complete and accurate copies of all applications, correspondence
with any Governmental Body, and other material documents related to each such item of Registered IP. Section 2.12(b)(ii) of the
Disclosure Schedule accurately identifies all Company IP (including Company IP contributed to WT IP Holdings, LLC pursuant to the Contribution
Agreement), other than Company Products and Registered IP listed in Sections 2.12(a) and 2.12(b)(i) of the Disclosure Schedule,
that is material to the Company’s business as currently conducted and proposed to be conducted.

 

(c) Inbound
Licenses. Section 2.12(c) of the Disclosure Schedule accurately identifies: (i) each Contract pursuant to which any Intellectual
Property Right or Intellectual Property is or has been licensed, sold, assigned, or otherwise conveyed or provided to the Company (other
than (A) agreements between the Company and its employees in the Company’s standard form thereof and (B) non-exclusive licenses
to commercially available, off-the-shelf third-party software that are not incorporated into, or used in the development, manufacturing,
testing, distribution, maintenance, or support of, any Company Product and that are not otherwise material to the Company’s business);
and (ii) whether the licenses or rights granted to the Company in each such Contract are exclusive or non-exclusive.

 

(d) Outbound
Licenses. Section 2.12(d) of the Disclosure Schedule accurately identifies each Contract pursuant to which the Company has
granted any Person any license under, or otherwise has received or acquired any right (whether or not currently exercisable) or interest
in, any Company IP. The Company is not bound by, and no Company IP is subject to, any Contract containing any covenant or other provision
that in any way limits or restricts the ability of the Company to use, exploit, assert, or enforce any Company IP anywhere in the world.

 

(e) Royalty
Obligations. Section 2.12(e) of the Disclosure Schedule contains a complete and accurate list and summary of all royalties,
fees, commissions, and other amounts payable by the Company to any other Person (other than sales commissions payable to employees of
the Company) upon or for the use, manufacture, sale or offer for sale, or distribution of any Company Product or the use of any Company
IP (collectively, “Third Party Royalties”). The Company has accurately reported to such other Persons all past Third
Party Royalties and the Company has paid all Third Party Royalties due under any Contract (including any license) with such other Persons.

 

    11

     

    

 

(f) Standard
Form IP Agreements. The Company has provided to Parent a complete and accurate copy of each standard form of Company IP Contract
used by the Company at any time since January 1, 2016, including each standard form of (i) employee agreement containing any assignment
or license of Intellectual Property Rights; (ii) consulting or independent contractor agreement containing any intellectual property
assignment or license of Intellectual Property Rights; and (iii) confidentiality or nondisclosure agreement. Section 2.12(f)(i)
of the Disclosure Schedule accurately identifies each agreement with an employee, consultant, or independent contractor in which the
employee, consultant, or independent contractor expressly reserved or retained rights in any Intellectual Property or Intellectual Property
Rights incorporated into or used in connection with any Company Product or otherwise related to the Company’s business, research,
or development. Section 2.12(f)(ii) of the Disclosure Schedule contains a complete and accurate list of all Company IP Contracts
that are materially different than the standard forms of Company IP Contracts.

 

(g) Ownership
Free and Clear. The Company exclusively owns all right, title, and interest to and in the Company IP (other than Intellectual Property
Rights exclusively licensed to the Company, as identified in Section 2.12(c) of the Disclosure Schedule) free and clear of any
Encumbrances (other than licenses and rights granted pursuant to the Contracts identified in Section 2.12(d) of the Disclosure
Schedule). Without limiting the generality of the foregoing:

 

(i) Perfection
of Rights. All documents and instruments necessary to establish, perfect, and maintain the rights of the Company in the Company IP
have been validly executed, delivered, and filed in a timely manner with the appropriate Governmental Body.

 

(ii) Employees
and Contractors. Each Person who is or was an employee or contractor of the Company and who is or was involved in the creation or
development of any Company Product or Company IP has signed a valid, enforceable agreement containing an assignment of Intellectual Property
Rights pertaining to such Company Product or Company IP to the Company and confidentiality provisions protecting the Company IP. No current
or former stockholder, officer, director, or employee of the Company has any claim, right (whether or not currently exercisable), or
interest to or in any Company IP. No employee or, to the Company’s Knowledge, independent contractor of the Company is (a) bound
by or otherwise subject to any Contract restricting him from performing his duties for the Company or (b) in breach of any Contract with
any former employer or other Person concerning Intellectual Property Rights or confidentiality due to his activities as an employee of
the Company.

 

(iii) Government
Rights. No funding, facilities, or personnel of any Governmental Body or any public or private university, college, or other educational
or research institution were used, directly or indirectly, to develop or create, in whole or in part, any Company IP.

 

(iv) Protection
of Proprietary Information. The Company has taken commercially reasonable steps to maintain the confidentiality of and otherwise
protect and enforce their rights in all proprietary information pertaining to the Company, all Company IP or any Company Product.

 

(v) Standards
Bodies. The Company is not and has never been a member or promoter of, or a contributor to, any industry standards body or similar
organization; and no such participation with any industry standards body or similar organization could require or obligate the Company
to grant or offer to any other Person any license or right to any Company IP.

 

(h) Sufficiency.
The Company owns or otherwise has, pursuant to a Contract listed in Section 2.12(b)(i) of the Disclosure Schedule, and after the
Closing, Parent will have, all Intellectual Property Rights used in or otherwise needed to conduct the Company’s business as currently
conducted and as presently proposed to be conducted.

 

    12

     

    

 

(i) Valid
and Enforceable. To the Company’s knowledge, all Company IP valid, subsisting, and enforceable. Without limiting the generality
of the foregoing:

 

(i) Misuse
and Inequitable Conduct. The Company has not engaged in patent or copyright misuse or any fraud or inequitable conduct in connection
with any Company IP that is Registered IP.

 

(ii) Trademarks.
The Company has not received any claim from any other Person that its trademarks or trade names conflict or interfere with any trademarks
or trade names owned by said Person, and has no knowledge of any facts or circumstances that would form the basis of such claims. The
Company believes that its trademarks and trade names do not conflict or interfere with any trademarks or trade names owned, used, or
applied for by any other Person.

 

(iii) Legal
Requirements and Deadlines. Each item of Company IP that is Registered IP is and at all times has been in compliance with all Legal
Requirements and all filings, payments, and other actions required to be made or taken to maintain such item of Company IP in full force
and effect have been made by the applicable deadline. All applications for patents, copyrights, or trademark registrations are undergoing
normal prosecution, and the Company's intellectual property counsel has advised that there is at least a reasonable expectation that,
if diligently prosecuted, said applications will eventually mature into registrations. Section 2.12(i) of the Disclosure Schedule
accurately identifies and describes each action, filing, and payment that must be taken or made on or before the date that is 120 days
after the date of this Agreement to maintain such item of Registered IP in full force and effect.

 

(iv) Interference
Proceedings and Similar Claims. No interference, opposition, reissue, reexamination, or other Legal Proceeding is or has been pending
or, to the Company’s Knowledge, threatened, in which the scope, validity, or enforceability of any Company IP is being, has been,
or could reasonably be expected to be contested or challenged. To the Company’s Knowledge, there is no basis for a claim that any
Company IP is invalid or unenforceable.

 

(j) Third-Party
Infringement of Company IP. To the Company’s Knowledge, no Person has infringed, misappropriated, or otherwise violated, and
no Person is currently infringing, misappropriating, or otherwise violating, any Company IP. Section 2.12(j) of the Disclosure
Schedule accurately identifies (and the Company has provided to Parent a complete and accurate copy of) each letter or other written
or electronic communication or correspondence that has been sent or otherwise delivered by or to the Company or any representative of
the Company regarding any actual, alleged, or suspected infringement or misappropriation of any Company IP, and provides a brief description
of the current status of the matter referred to in such letter, communication, or correspondence.

 

(k) Effects
of This Transaction. Neither the execution, delivery, or performance of this Agreement (or any of the ancillary agreements) nor the
consummation of any of the transactions contemplated by this Agreement (or any of the ancillary agreements) will, with or without notice
or lapse of time, result in, or give any other Person the right or option to cause or declare, (i) a loss of, or Encumbrance on, any
Company IP; (ii) a breach of or default under any Company IP Contract; (iii) the release, disclosure, or delivery of any Company IP by
or to any escrow agent or other Person; or (iv) the grant, assignment, or transfer to any other Person of any license or other right
or interest under, to, or in any of the Company IP.

 

    13

     

    

 

(l) No
Infringement of Third Party IP Rights. The Company believes that it has not infringed (directly, contributorily, by inducement, or
otherwise), misappropriated, or otherwise violated or made unlawful use of any Intellectual Property Right of any other Person or engaged
in unfair competition. The operation of the Company’s business, including the use, development, marketing, distribution, provision,
maintenance and support of any Company Product or Company Software, does not infringe, violate, or make unlawful use of any Intellectual
Property Right of, or contain any Intellectual Property misappropriated from, any other Person. Without limiting the generality of the
foregoing:

  

(i) Infringement
Claims. Except as set forth in Section 2.12(l)(i) of the Disclosure Schedule, no infringement, misappropriation, or similar
claim or Legal Proceeding is pending or, to the Company’s Knowledge, threatened against the Company or against any other Person
who is or may be entitled to be indemnified, defended, held harmless, or reimbursed by the Company with respect to such claim or Legal
Proceeding. Except as set forth in Section 2.12(l)(i) of the Disclosure Schedule, the Company has never received any notice or
other communication (in writing or otherwise) relating to any actual, alleged, or suspected infringement, misappropriation, or violation
by the Company, any of their employees or agents, or any Company Product of any Intellectual Property Rights of another Person, including
any letter or other communication suggesting or offering that the Company obtain a license to any Intellectual Property Right of another
Person, except for such notices or communications which have been fully resolved.

 

(ii) Other
Infringement Liability. The Company is not bound by any Contract to indemnify, defend, hold harmless, or reimburse any other Person
with respect to, or otherwise assumed or agreed to discharge or otherwise take responsibility for, any existing or potential intellectual
property infringement, misappropriation, or similar claim (other than indemnification obligations under Company IP Contracts that are
substantially similar to the indemnification provisions in the Company’s standard forms of Company IP Contracts).

 

(iii) Infringement
Claims Affecting In-Licensed IP. To the Company’s Knowledge, no claim or Legal Proceeding involving any Intellectual Property
or Intellectual Property Right licensed to the Company is pending or has been threatened, except for any such claim or Legal Proceeding
that, if adversely determined, would not adversely affect (a) the use or exploitation of such Intellectual Property or Intellectual Property
Right by the Company, or (b) the design, development, manufacturing, marketing, distribution, provision, licensing or sale of any Company
Product.

 

(m) Harmful
Code. The Company has not knowingly taken any action resulting in the Company Software containing any “back door,” “drop
dead device,” “time bomb,” “Trojan horse,” “virus,” or “worm” (as such terms are
commonly understood in the software industry) or any other code designed or intended to have, or capable of performing, any of the following
functions: (i) disrupting, disabling, harming, or otherwise impeding in any manner the operation of, or providing unauthorized access
to, a computer system or network or other device on which such code is stored or installed; or (ii) damaging or destroying any data or
file without the user’s consent.

 

(n) Source
Code. Except as set forth in Section 2.12(n) of the Disclosure Schedule, no source code for any Company Software has been
delivered, licensed, or made available to any escrow agent or other Person who is not, as of the date of this Agreement, an employee
of the Company. The Company has no duty or obligation (whether present, contingent, or otherwise) to deliver, license, or make available
the source code for any Company Software to any escrow agent or other Person. No event has occurred, and no circumstance or condition
exists, that (with or without notice or lapse of time) will, or could reasonably be expected to, result in the delivery, license, or
disclosure of the source code for any Company Software to any other Person.

 

(o) Open
Source Code. Section 2.12(o) of the Disclosure Schedule accurately identifies and describes (i) each item of Open Source Code that
is contained in, distributed with, or used in the development of the Company Products or from which any part of any Company Product is
derived, (ii) the applicable license terms for each such item of Open Source Code, and (iii) the Company Product or Company Products
to which each such item of Open Source Code relates. The Company has provided to Parent the applicable license terms for each item of
Open Source Code. No Company Product contains, is derived from, or is distributed with Open Source Code that is licensed under any terms
that impose or could impose any material limitation, restriction, or condition on the right or ability of the Company to use or distribute
any Company Product.

 

    14

     

    

 

(p) Company
Privacy Policies; Personal Data.

 

(i) Section
2.12(p)(i) of the Disclosure Schedule contains each Company Privacy Policy and identifies, with respect to each Company Privacy Policy,
(i) the period of time during which such privacy policy was or has been in effect, (ii) whether the terms of a later Company Privacy
Policy apply to the data or information collected under such privacy policy, and (iii) if applicable, the mechanism (such as opt-in,
opt-out, or notice only) used to apply a later Company Privacy Policy to data or information previously collected under such privacy
policy.

 

(ii) Section
2.12(p)(ii) of the Disclosure Schedule identifies and describes each distinct electronic or other database containing (in whole or
in part) Personal Data maintained by or for the Company at any time (the “Company Databases”), the types of Personal
Data in each such database, the means by which the Personal Data was collected, and the security policies that have been adopted and
maintained with respect to each such database. No breach or violation of any such security policy has occurred or, to the Company’s
Knowledge, is threatened, and there has been no unauthorized or illegal use of or access to any of the data or information in any of
the Company Databases.

 

(iii) The
Company has complied at all times and in all material respects with all of the Company Privacy Policies and with all applicable Legal
Requirements pertaining to privacy, User Data, or Personal Data.

 

(iv) Neither
the execution, delivery, or performance of this Agreement (or any of the ancillary agreements) nor the consummation of any of the transactions
contemplated by this Agreement (or any of the ancillary agreements), nor Parent’s possession or use of the User Data or any data
or information in the Company Databases, will result in any violation of any Company Privacy Policy or any Legal Requirement pertaining
to privacy, User Data, or Personal Data.

 

2.13 Contracts.

 

(a) Section
2.13(a) of the Disclosure Schedule accurately identifies:

 

(i) each
Company Contract relating to the employment of, or the performance of services by, any employee, consultant or independent contractor;

 

(ii) each
Company Contract with any customer of the Company;

 

(iii) each
Company Contract relating to the acquisition, transfer, use, development, sharing or license of any technology or any Intellectual Property
or Intellectual Property Right;

 

(iv) each
Company Contract relating to the lease or license of real estate;

 

(v) each
Company Contract imposing any restriction on the Company’s right or ability to (A) compete with any other Person, (B) acquire any
product or other asset or any services from any other Person, to sell any product or other asset to or perform any services for any other
Person or to transact business or deal in any other manner with any other Person, (C) develop or distribute any technology, or (D) hire
or solicit any Person as an employee, consultant or independent contractor;

 

    15

     

    

 

(vi) each
Company Contract creating or involving any agency relationship, distribution arrangement or franchise relationship;

 

(vii) each
Company Contract relating to the acquisition, issuance or transfer of any securities;

 

(viii) each
Company Contract relating to Indebtedness or the creation of any Encumbrance with respect to any asset of the Company;

 

(ix) each
Company Contract involving or incorporating any guaranty, any pledge, any performance or completion bond or any surety arrangement;

 

(x) each
Company Contract creating or relating to any partnership or joint venture or any sharing of revenues, profits, losses, costs or liabilities;

 

(xi) any
other Company Contract that was entered into outside the ordinary course of business or was inconsistent with the Company’s past
practices and is to be performed at or after the date of this Agreement;

 

(xii) any
other Company Contract that has a term of more than sixty (60) days and that may not be terminated by the Company (without penalty) within
sixty (60) days after the delivery of a termination notice by the Company; and

 

(xiii) to
the extent not included in subsections (i) through (xii) above, any other Company Contract that contemplates or involves (A) the payment
or delivery of cash or other consideration in an amount or having a value in excess of $25,000 in the aggregate, or (B) the performance
of services having a value in excess of $25,000 in the aggregate.

 

(Contracts
in the respective categories described in clauses “(i)” through “(xiii)” above are referred to in this Agreement
as “Material Contracts.”)

 

(b) The
Company has made available to Parent accurate and complete copies of all written Contracts identified in Section 2.13(a)
of the Disclosure Schedule, including all amendments thereto. There are no Material Contracts that are not in written form. Each
Material Contract is valid and in full force and effect and is enforceable by the Company in accordance with its terms, subject to (i)
laws of general application relating to bankruptcy, insolvency and the relief of debtors, and (ii) rules of law governing specific performance,
injunctive relief and other equitable remedies.

 

(c) The
Company has not materially violated or breached, or committed any material default under, any Material Contract, and, to the Company’s
Knowledge, no other Person has violated or breached, or committed any default under, any Material Contract. The Company has timely made
all payments required to be made by it pursuant to the terms of each Material Contract (including, but not limited to, all royalties
and commissions payable under each partner agreement to which the Company is a party). No event has occurred, and to the Company’s
Knowledge, no circumstance or condition exists, that (with or without notice or lapse of time) will, or would reasonably be expected
to, (A) result in a material violation or breach of any of the provisions of any Material Contract, (B) give any Person the
right to declare a default or exercise any remedy under any Material Contract, (C) give any Person the right to accelerate the maturity
or performance of any Material Contract, or (D) give any Person the right to cancel, terminate or modify any Material Contract. The Company
has not received any notice or other communication regarding any actual or possible violation or breach of, or default under, any Material
Contract. The Company has fulfilled all material obligations required to have been performed by the Company pursuant to each Material
Contract.

 

    16

     

    

 

(d) Section 2.13(d)
of the Disclosure Schedule identifies and provides a brief description of each proposed Contract as to which any bid, offer, award,
written proposal, term sheet or similar document involving the Company is presently pending.

 

2.14 Liabilities.
The Company has no accrued, contingent or other liabilities of any nature (whether or not required to be reflected in financial statements
in accordance with GAAP, and whether due or to become due), except for: (a) liabilities identified as such in the “liabilities”
column of the Company Unaudited Interim Balance Sheet; (b) accounts payable or accrued salaries and benefits that have been incurred
by the Company since the Interim Balance Sheet Date in the ordinary course of business and consistent with the Company’s past practices;
(c) Indebtedness that will be paid off in full at Closing; and (d) liabilities under the Company Contracts identified in Section 2.13(a)
of the Disclosure Schedule, to the extent the nature and magnitude of such liabilities can be specifically ascertained by reference
to the text of such Company Contracts.

 

2.15 Compliance
with Legal Requirements. Except as set forth in Section 2.15(a) of the Disclosure Schedule, the Company is, and has at all times
been, in compliance with all material Legal Requirements. Except as set forth in Section 2.15(a) of the Disclosure Schedule, the Company
has not received any notice or other communication from any Governmental Body regarding any actual or possible violation of, or failure
to comply with, any material Legal Requirement.

 

2.16 Governmental
Authorizations. Section 2.16 of the Disclosure Schedule identifies each material Governmental Authorization held by the Company,
and the Company has delivered to Parent accurate and complete copies of all Governmental Authorizations identified in Section 2.16
of the Disclosure Schedule. The Governmental Authorizations identified in Section 2.16 of the Disclosure Schedule are valid
and in full force and effect, and collectively constitute all Governmental Authorizations necessary to enable the Company to conduct
its business in the manner in which its business is currently being conducted and as presently proposed to be conducted. The Company
is, and at all times has been, in substantial compliance with the terms and requirements of the respective Governmental Authorizations
identified in Section 2.16 of the Disclosure Schedule. The Company has not received any written notice from any Governmental Body
regarding (a) any actual or possible violation of or failure to comply with any term or requirement of any Governmental Authorization,
or (b) any actual or possible revocation, withdrawal, suspension, cancellation, termination or modification of any Governmental Authorization.

 

2.17 Tax
Matters.

 

(a) Except
as set forth in Section 2.17(a) of the Disclosure Schedule, the Company has timely filed all Tax Returns that it was required to file.
All such Tax Returns were correct and complete. Except as set forth in Section 2.17(a) of the Disclosure Schedule, all Taxes owed by
the Company, whether or not shown as due on any Tax Return, have been paid.

 

(b) The
Company has withheld and paid all Taxes required to have been withheld and paid in connection with any amounts paid or owing to any employee,
independent contractor, creditor, equityholder, or other third party.

 

(c) The
Company is in compliance with, and its records contain all information and documents (including properly completed IRS Forms W-9) necessary
to comply with, all applicable information reporting and Tax withholding requirements under applicable Laws.

 

(d) No
deficiency, assessment or liability for any Taxes has been proposed, asserted, threatened or assessed in writing by a Governmental Body
against the Company, which deficiency, assessment or liability has not been paid in full. No claim has ever been made by a Governmental
Body in a jurisdiction where the Company does not file a Tax Return that the Company may be subject to Taxes by that jurisdiction.

 

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(e) No
waiver or extension of any statute of limitations is in effect with respect to Taxes or Tax Returns of the Company and no request for
any such waiver or extension is currently pending.

 

(f) Any
Person classified or treated by the Company as an employee or as an independent contractor for any Tax purpose or as to any payment for
any period was properly so classified and treated for the applicable Tax purpose or payment and the applicable period.

 

(g) The
Company is not a party to any Contract that has resulted or would reasonable be expected to result, separately or in the aggregate, in
the payment of (i) any “excess parachute payment” within the meaning of section 280G of the Code (or any corresponding provisions
of state, local or foreign Tax law) and (ii) any amount that will not be fully deductible as a result of section 162(m) of the Code (or
any corresponding provisions of state, local or foreign Tax law).

 

(h) The
Company has not been a United States real property holding corporation within the meaning of section 897(c)(2) of the Code during the
applicable period specified in section 897(c)(1)(A)(ii) of the Code. The Company has disclosed on the applicable income Tax Returns all
positions taken therein that could give rise to a substantial understatement of federal income Tax within the meaning of section 6662
of the Code or similar provision of state, local or foreign income Tax. The Company is not a party to or bound by any Tax allocation,
Tax indemnity or Tax sharing agreement or other similar agreements.

 

(i) The
Company has (A) not been a member of an Affiliated Group filing a consolidated federal income Tax Return (other than a group the common
parent of which was the Company) or (B) no liability for the Taxes of any Person (other than the Company) under regulation 1.1502-6 of
the Code (or any similar provision of state, local, or foreign law), as a transferee or successor, by contract, or otherwise.

 

(j) The
unpaid Taxes of the Company (i) did not, as of the date of the Company Unaudited Interim Balance Sheet, exceed the reserve for Tax liability
(rather than any reserve for deferred Taxes established to reflect temporary differences between book and Tax income) set forth on the
Company Unaudited Interim Balance Sheet, and (ii) do not exceed that reserve as adjusted for the passage of time through the Closing
Date in accordance with the past custom and practice of the Company in filing its Tax Returns. Since the Interim Balance Sheet Date,
the Company has not incurred any liability for Taxes arising from extraordinary gains or losses, determined in accordance with GAAP,
outside the ordinary course of business.

 

(k) The
Company will not be required to include any item of income in, or exclude any item of deduction from, taxable income for any taxable
period (or portion thereof) ending after the Closing Date as a result of any: (i) change in or improper method of accounting for any
taxable period ending on or prior to the Closing Date; (ii) “closing agreement” as described in section 7121 of the Code
(or any corresponding or similar provision of state, local or foreign income Tax law) executed on or prior to the Closing Date; (iii)
intercompany transactions or any excess loss account described in Treasury Regulations under section 1502 of the Code (or any corresponding
or similar provisions of state, local or foreign income Tax law); (iv) installment sale or open transaction disposition made on or prior
to the Closing Date; (v) prepaid amount received on or prior to the Closing Date; or (vi) any other amount of income economically accruing
on or prior to the Closing Date.

 

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(l) The
Company has not distributed equity of another Person, or has had its equity distributed by another Person, in a transaction that was
purported or intended to be governed in whole or in part by section 355 or section 361 of the Code except that the Company has distributed
all of the membership interests in WT IP Holdings, LLC to its shareholders.

 

(m) The
Company has not participated in a “listed transaction” within the meaning of Treasury Regulation Section 1.6011-4 or similar
provision of state, local or foreign Legal Requirement, other than a transaction exempted from the reporting requirements of such Regulation
or such state, local or foreign Legal Requirement.

 

(n) The
Company has no operations outside the United States and has never engaged in a trade or business or maintained a “permanent establishment”
(within the meaning of applicable income Tax conventions) outside the United States.

 

(o) Section
2.17(o) of the Disclosure Schedule sets forth the following information with respect to the Company as of the most recent practicable
date (as well as on an estimated pro forma basis as of the Closing giving effect to the consummation of the transactions contemplated
hereby): (1) the basis of the Company in its assets; and (2) the amount of any net operating loss, net capital loss, unused investment
or other credit, unused foreign tax credit, or excess charitable contribution allocable to the Company.

 

2.18 Employee
and Labor Matters; Benefit Plans.

 

(a) Section 2.18(a)
of the Disclosure Schedule accurately sets forth, with respect to each employee of the Company (including any employee of the Company
who is on a leave of absence or on layoff status): (i) the name of such employee and the date as of which such employee was originally
hired by the Company; (ii) such employee’s title; (iii) compensation (broken down by wage rate or salary, commissions, director’s
fees, fringe benefits, bonuses, profit-sharing payments and other payments or benefits of any type) received by such employee from the
Company with respect to services performed in 2019 and 2020, and indicating whether such employee is an exempt or non-exempt employee
under the Fair Labor Standards Act; (iv) such employee’s annualized compensation (including bonus opportunity) as of the date of
this Agreement; (v) each Company Employee Plan in which such employee participates or is eligible to participate; and (vi) any Governmental
Authorization that is held by such employee and that relates to or is useful in connection with the Company’s business.

 

(b) Section 2.18(b)
of the Disclosure Schedule accurately sets forth, with respect to each independent contractor of the Company: (i) the name of such
independent contractor and the date as of which such independent contractor was originally engaged by the Company; (ii) the aggregate
dollar amount of the compensation (including all payments or benefits of any type) received by such independent contractor from the Company
with respect to services performed in 2019 and 2020; (iii) the terms of compensation of such independent contractor (indicating whether
such terms are included in a written agreement); (iv) a description of the services performed; and (v) any Governmental Authorization
that is held by such independent contractor and that relates to or is useful in connection with the Company’s business.

 

(c) Section
2.18(c) of the Disclosure Schedule accurately identifies each former employee of the Company who is receiving or is scheduled to
receive (or whose spouse or other dependent is receiving or is scheduled to receive) any benefits (whether from the Company or otherwise)
relating to such former employee’s employment with the Company, and Section 2.18(c) of the Disclosure Schedule accurately
describes such benefits.

 

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(d) The
Company is not a party to or bound by, and the Company has never been a party to or bound by, any Company Employee Agreement or any union
contract, collective bargaining agreement or similar Contract, nor is any such Contract presently being negotiated, nor is there any
duty on the part of the Company to bargain with any labor organization or representative, and there are no labor organizations representing,
purporting to represent or, to the knowledge of the Company, seeking to represent any employees of the Company.

 

(e) The
employment of each of the Company’s employees is terminable by the Company at will. The Company has delivered to Parent accurate
and complete copies of all employee manuals and handbooks, disclosure materials, policy statements and other materials relating to the
employment of the current and former employees of the Company.

 

(f) To
the Company’s Knowledge: (i) no employee of the Company intends to terminate his or her employment with the Company; (ii) no employee
of the Company has received an offer to join a business that may be competitive with the Company’s business, and (iii) no employee
of the Company is a party to or is bound by any confidentiality agreement, noncompetition agreement or other Contract (with any Person)
that may have an adverse effect on: (A) the performance by such employee of any of his or her duties or responsibilities as an employee
of the Company; or (B) the Company’s business or operations.

 

(g) The
Company is not engaged, and the Company has never been engaged, in any unfair labor practice of any nature. There has never been any
slowdown, work stoppage, labor dispute or union organizing activity, or any similar activity or dispute, affecting the Company, any such
slowdown, work stoppage, labor dispute or union organizing activity or any similar activity or dispute. No event has occurred, and no
condition or circumstance exists, that might directly or indirectly give rise to or provide a basis for the commencement of any such
slowdown, work stoppage, labor dispute or union organizing activity or any similar activity or dispute. There are no actions, suits,
claims, labor disputes or grievances pending or, to the Company’s Knowledge, threatened relating to any labor, employment, safety
or discrimination matters involving any Company Employee, including, without limitation, charges of unfair labor practices or discrimination
complaints.

 

(h) None
of the current or former independent contractors of the Company could be misclassified as an employee. No independent contractor of the
Company is eligible to participate in any Company Employee Plan.

 

(i) Section
2.18(i) of the Disclosure Schedule contains an accurate and complete list of each Company Employee Plan and each Company Employee
Agreement. The Company does not intend nor has it committed to establish or enter into any new Company Employee Plan or Company Employee
Agreement, or to modify any Company Employee Plan or Company Employee Agreement (except to conform any such Company Employee Plan or
Company Employee Agreement to the requirements of any applicable Legal Requirements, in each case as previously disclosed to Parent in
writing or as required by this Agreement).

 

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(j) The
Company has delivered to Parent: (i) correct and complete copies of all documents setting forth the terms of each Company Employee Plan
and each Company Employee Agreement, including all amendments thereto and all related trust documents; (ii) the three (3) most recent
annual reports (Form Series 5500 and all schedules and financial statements attached thereto), if any, required under ERISA or the Code
in connection with each Company Employee Plan; (iii) the most recent summary plan description together with the summaries of material
modifications thereto, if any, required under ERISA with respect to each Company Employee Plan; (iv) all material written Contracts relating
to each Company Employee Plan, including administrative service agreements and group insurance contracts; (v) all written materials provided
to any Company Employee relating to any Company Employee Plan and any proposed Company Employee Plans, in each case, relating to any
amendments, terminations, establishments, increases or decreases in benefits, acceleration of payments or vesting schedules or other
events that would result in any liability to the Company or any Company Subsidiary; (vi) all correspondence to or from any Governmental
Body relating to any Company Employee Plan; (vii) all COBRA forms and related notices; (viii) all insurance policies in the possession
of the Company or any Company Subsidiary pertaining to fiduciary liability insurance covering the fiduciaries for each Company Employee
Plan; (ix) all discrimination tests required under the Code for each Company Employee Plan intended to be qualified under Section 401(a)
of the Code for the three most recent plan years; and (x) the most recent IRS determination or opinion letter issued with respect to
each Company Employee Plan intended to be qualified under Section 401(a) of the Code.

 

(k) The
Company and each of the Company Subsidiaries have performed all obligations required to be performed by them under each Company Employee
Plan and each Company Employee Agreement and are not in default or violation of, and to the Company’s Knowledge there are no defaults
or violations by any other party to, the terms of any Company Employee Plan or Company Employee Agreement, and each Company Employee
Plan or Company Employee Agreement has been established and maintained substantially in accordance with its terms and in substantial
compliance with all applicable Legal Requirements, including ERISA and the Code. Any Company Employee Plan intended to be qualified under
Section 401(a) of the Code has obtained a favorable determination letter (or opinion letter, if applicable) as to its qualified status
under the Code. No “prohibited transaction,” within the meaning of Section 4975 of the Code or Sections 406 and 407 of ERISA,
and not otherwise exempt under Section 408 of ERISA, has occurred with respect to any Company Employee Plan. There are no claims or Legal
Proceedings pending, or, to the Company’s Knowledge, threatened (other than routine claims for benefits), against or arising under
any Company Employee Plan or Company Employee Agreement or against the assets of any Company Employee Plan. Each Company Employee Plan
(other than any Company Employee Plan to be terminated prior to the Closing in accordance with this Agreement) can be amended, terminated
or otherwise discontinued after the Closing in accordance with its terms, without liability to Parent, the Company or any Company Subsidiary
(other than ordinary administration expenses). There are no audits, inquiries or Legal Proceedings pending or, to the Company’s
Knowledge, threatened by the IRS, DOL, or any other Governmental Body with respect to any Company Employee Plan. Neither the Company
nor any Company Subsidiary has ever incurred any penalty or tax with respect to any Company Employee Plan under Section 602(i) of ERISA
or Sections 4975 through 4980 of the Code. The Company and each Company Subsidiarys have made all contributions and other payments required
by and due under the terms of each Company Employee Plan and Company Employee Agreement.

 

(l) Neither
the Company nor any Company Subsidiary has ever maintained, established, sponsored, participated in, or contributed to any Company Employee
Plan which is (i) subject to Title IV or Section 302 of ERISA (and the Company and all of its Company Subsidiaries have not incurred
any direct or indirect liability under or by operation of Title IV of ERISA and no condition exists that presents a material risk to
the Company or any of its Company Subsidiaries of incurring any such direct or indirect liability), (ii) a "multiemployer plan"
within the meaning of the Code or ERISA or such other plan pursuant to which the Company or any of its Company Subsidiaries incurred
any withdrawal liability (within the meaning of Section 4201 of ERISA), or (iii) subject to Section 412 or 4971 of the Code. Neither
the Company nor any Company Subsidiary has ever maintained, established, sponsored, participated in or contributed to, any Company Pension
Plan in which stock of the Company or any Company Subsidiary is or was held as a plan asset. Neither the Company nor any Company Subsidiary
has ever maintained, established, sponsored, participated in, or contributed to any Foreign Plan.

 

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(m) No
Company Employee Plan provides or reflects or represents any liability of the Company or any Company Subsidiary to provide, retiree life
insurance, retiree health benefits or other retiree employee welfare benefits to any Person for any reason, except as may be required
by COBRA or other applicable Legal Requirements. Neither the Company nor any Company Subsidiary has ever represented, promised or contracted
(whether in oral or written form) to any Company Employee (either individually or to Company Employees as a group) or any other Person
that such Company Employee(s) or other person would be provided with retiree life insurance, retiree health benefit or other retiree
employee welfare benefits.

 

(n) Except
as set forth in Section 2.18(n) of the Disclosure Schedule, neither the execution of this Agreement nor the consummation of the
transactions contemplated hereby will (either alone or upon the occurrence of any additional or subsequent events) constitute an event
under any Company Employee Plan, Company Employee Agreement, trust or loan that will or may result (either alone or in connection with
any other circumstance or event) in any payment (whether of severance pay or otherwise), acceleration, forgiveness of indebtedness, vesting,
distribution, increase in benefits or obligation to fund benefits with respect to any Company Employee. There is no Company Employee
Plan, Company Employee Agreement, or other agreement, plan, arrangement or other Contract covering any employee, director, or independent
contractor or former employee, director or independent contractor of the Company that, considered individually or considered collectively
with any other such Company Employee Plans, agreements, plans, arrangements, or Contracts, will give rise to the payment of any amount
in connection with the transaction contemplated in this Agreement that would not be deductible pursuant to Section 280G of the Code.

 

(o) The
Company and each of the Company Subsidiaries: (i) are, and at all times have been, in substantial compliance with all applicable Legal
Requirements respecting employment, employment practices, terms and conditions of employment, and wages and hours, in each case, with
respect to Company Employees, including the health care continuation requirements of COBRA, the requirements of FMLA, the requirements
of the Fair Labor Standards Act, the requirements of HIPAA and any similar provisions of state law; (ii) have withheld and reported all
amounts required by applicable Legal Requirements or by Contract to be withheld and reported with respect to wages, salaries and other
payments to Company Employees; (iii) are not liable for any arrears of wages or any taxes or any penalty for failure to comply with the
Legal Requirements applicable of the foregoing; and (iv) are not liable for any payment to any trust or other fund governed by or maintained
by or on behalf of any Governmental Body with respect to unemployment compensation benefits, social security or other benefits or obligations
for Company Employees (other than routine payments to be made in the normal course of business and consistent with past practice). There
are no pending or, to the Company’s Knowledge, threatened claims or Legal Proceedings against the Company or any Company Subsidiary
under any worker’s compensation policy or long-term disability policy.

 

(p) Each
Company Plan that is a “nonqualified deferred compensation plan” (as defined under Section 409A of the Code) complies in
form and operation with Section 409A of the Code. Neither the Company, nor any of its Subsidiaries, has any obligation to indemnify or
hold harmless any Person for any liability that may result from the failure to comply with the Section 409A of the Code.

 

(q) No
discrimination claim, show cause notice, conciliation proceeding, sanction or debarment proceeding has been filed or is pending or, to
the Company’s Knowledge, is threatened with the Office of Federal Contract Compliance Programs or any other federal agency or any
comparable state or foreign agency or court, and there have been no desk audits or on-site reviews pending or scheduled.

 

(r) All
employees, agents, and contractors of the Company and its Subsidiaries that are working in the United States are legally authorized to
work in the United States either because of their status as United States citizens, legal permanent residents, or by virtue of possessing
a visa under Law relating to immigration control which visa allows for such employee to work in the United States. The Company has properly
completed all reporting and verification requirements pursuant to Law relating to immigration control for all Company Employees, including
the Form I-9. The Company has not received any notice from any Governmental Body that the Company is in violation of any Law pertaining
to immigration control or that any Company Employee is or was not legally authorized to be employed in the United States or is or was
using an invalid social security number, and there is no pending, or to the Company’s Knowledge, threatened, charge or complaint
under the Immigration Reform and Control Act of 1986 against the Company.

 

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2.19 Environmental
Matters. The Company is in compliance in all material respects with all applicable Environmental Laws, which compliance includes
the possession by the Company of all permits and other Governmental Authorizations required under applicable Environmental Laws, and
compliance with the terms and conditions thereof. The Company has not received any notice or other communication (in writing or otherwise),
whether from a Governmental Body, citizens group, employee or otherwise, that alleges that the Company is not in compliance with any
Environmental Law, and, to the Company’s Knowledge, there are no circumstances that may prevent or interfere with the Company’s
compliance with any Environmental Law in the future. To the Company’s Knowledge, no current or prior owner of any property leased
or controlled by the Company has received any notice or other communication (in writing or otherwise), whether from a Government Body,
citizens group, employee or otherwise, that alleges that such current or prior owner or the Company is not in compliance with any Environmental
Law with respect to any property leased or controlled by the Company. All Governmental Authorizations currently held by the Company pursuant
to Environmental Laws are identified in Section 2.19 of the Disclosure Schedule.

 

2.20 Insurance.
Section 2.20 of the Disclosure Schedule identifies all insurance policies maintained by, at the expense of or for the benefit
of the Company and identifies any material claims made thereunder, and the Company has delivered to Parent accurate and complete copies
of the insurance policies identified on Section 2.20 of the Disclosure Schedule. Each of the insurance policies identified in
Section 2.20 of the Disclosure Schedule is in full force and effect. The Company has not received any notice or other communication
regarding any actual or possible (a) cancellation or invalidation of any insurance policy, (b) refusal of any coverage or rejection of
any claim under any insurance policy, or (c) material adjustment in the amount of the premiums payable with respect to any insurance
policy.

 

2.21 Related
Party Transactions. Except as set forth in Section 2.21 of the Disclosure Schedule, there are no obligations of the Company
to any Related Party of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable
expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees.
None of the officers, directors or, to the Company’s Knowledge, key employees or stockholders of the Company or any members of
their immediate families, is indebted to the Company or has any direct or indirect ownership interest in any firm or corporation that
competes with the Company, other than (i) passive investments in publicly traded companies (representing less than 1% of such company)
which may compete with the Company and (ii) service as a board member of a company due to a person’s affiliation with a venture
capital fund or similar institutional investor in such company. No officer or director or stockholder, or to the Company’s Knowledge,
any member of their immediate families, is, directly or indirectly, interested in any Material Contract with the Company (other than
such contracts as relate to any such person’s ownership of capital stock or other securities of the Company, or to any such person’s
employment, consulting or other services agreement with the Company copies of which have been provided to Parent) except for interests
arising under the Contribution Agreement.

 

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2.22 Legal
Proceedings; Orders.

 

(a) There
is no pending Legal Proceeding, and to the Company’s Knowledge no Person has threatened to commence any Legal Proceeding: (i) that
involves the Company or any of the assets owned or used by the Company or any Person whose liability the Company has or may have retained
or assumed, either contractually or by operation of law; or (ii) that challenges, or that may have the effect of preventing, delaying,
making illegal or otherwise interfering with, the Merger or any of the other transactions contemplated by this Agreement. The Company
has delivered to Parent accurate and complete copies of all pleadings, correspondence and other written materials (to which the Company
has access) that relate to any Legal Proceeding identified in Section 2.22(a) of the Disclosure Schedule. No event has occurred,
and no claim, dispute or other condition or circumstance exists, that will, or that would reasonably be expected to, give rise to or
serve as a basis for the commencement of any such Legal Proceeding.

 

(b) No
Legal Proceeding has ever been commenced by or has ever been pending against the Company.

 

(c) There
is no order, writ, injunction, judgment or decree to which the Company, or any of the assets owned or used by the Company, is subject.
To the Company’s Knowledge, no officer or other employee of the Company is subject to any order, writ, injunction, judgment or
decree that prohibits such officer or other employee from engaging in or continuing any conduct, activity or practice relating to the
Company’s business. To the Company’s Knowledge, there is no proposed order, writ, injunction, judgment or decree that, if
issued or otherwise put into effect, (i) may have an adverse effect on the Company, or any of the assets owned or used by the Company,
or on the ability of the Company to comply with or perform any covenant or obligation under this Agreement (or any ancillary agreements)
or (ii) may have the effect of preventing, delaying, making illegal or otherwise interfering with, the Merger or any of the other
transactions contemplated by this Agreement.

 

2.23 Customers
and Vendors.

 

(a) Section
2.23(a) of the Disclosure Schedule sets forth a list of each client that purchased or renewed products or services or licensed products
from the Company since January 1, 2018 (collectively, the “Clients”) and the next contract renewal date with respect
to each Contract with such Client. To the Company’s Knowledge, the relationships of the Company with the Clients are, in all material
respects, good working relationships. No Client has given the Company notice (orally or in writing) that such Client does not intend
to renew any of its Contracts with the Company.

 

(b) Section
2.23(b) of the Disclosure Schedule sets forth a list of each vendor of goods and services to the Company in excess of $10,000, and
the dollar volume involved, since January 1, 2018 (collectively, the “Vendors”). To the Company’s Knowledge,
the relationships of the Company with the Vendors are, in all material respects, good working relationships. No Vendor has given the
Company notice (orally or in writing) that such Vendor does not intend to renew any of its Contracts with the Company. No Vendor is the
sole supplier of any significant product or service to the Company. No pending purchase order or commitment of the Company is outside
of the ordinary course of business.

 

(c) Section
2.23(c) of the Disclosure Schedule sets forth the aggregate Annual Client Contract Value as of the Interim Balance Sheet Date of
all Contracts with Clients listed by client.

 

(d) Section
2.23(d) of the Disclosure Schedule sets forth the Company’s renewal rate as a percentage of all Contracts with Clients (on
both a unit and revenue basis) that were subject to renewal during the one-year periods ended December 31, 2018 and December 31, 2019,
the calculation of such renewal rate to exclude any new sales, price increases or license expansions to a Client during such one-year
measurement period.

 

(e) Section
2.23(e) of the Disclosure Schedule sets forth (i) a list of all clients whose Contracts terminated without renewal during the period
from January 1, 2020 to September 30, 2020 with associated Annual Client Contract Value, (ii) a list of all clients that have provided
notice of termination on Contracts which will terminate after September 30, 2020, and (ii) a list of all clients who have been given
a guarantee, whether orally or written, by the Company, with respect to the services provided under such client’s Contract since
January 1, 2020.

 

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2.24 Powers
of Attorney. Except as set forth in Section 2.24 of the Disclosure Schedule, the Company has not granted any written power of
attorney to any Person for any purpose whatsoever, which power of attorney is currently in force.

 

2.25 Certain
Business Practices. Neither the Company nor, to the Company’s Knowledge, any of its officers, directors, agents, distributors,
employees or other Person acting on behalf of the Company has, directly or indirectly, taken any action that would cause them to be in
material violation of the Foreign Corrupt Practices Act of 1977, as amended, or any rules or regulations thereunder or any similar anti-corruption
or anti-bribery Laws applicable to the Company in any jurisdiction other than the United States (collectively, the “FCPA”),
or, to the Company’s Knowledge, used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses
relating to political activity, made, offered or authorized any unlawful payment to foreign or domestic government officials or employees,
whether directly or indirectly, or made, offered or authorized any bribe, rebate, payoff, influence payment, kickback or other similar
unlawful payment, whether directly or indirectly.

 

2.26 Brokers.
No broker, investment banker, financial advisor or other person is entitled to any broker’s, finder’s, financial advisor’s
or other similar fee or commission in connection with the Merger based upon arrangements made by or on behalf of the Company.

 

2.27 Full
Disclosure. The Company has delivered to Parent all documents listed on the Disclosure Schedule which have been requested by
Parent.

 

SECTION
3. Representations
and Warranties of Parent and Merger Sub

 

Parent
and Merger Sub, jointly and severally, represent and warrant as of the date of this Agreement and as of the Closing Date, to the Company
as follows:

 

3.1 Due
Organization; Subsidiaries; Etc.

 

(a) Parent
is a corporation, duly organized, validly existing and in good standing under the laws of the State of Delaware, and has all corporate
power and authority to own its properties and assets and to conduct its businesses as currently conducted.

 

(b) Merger
Sub is a corporation, duly organized, validly existing and in good standing under the laws of the State of Delaware, and has all corporate
power and authority to own its properties and assets and to conduct its businesses as currently conducted.

 

(c) Merger
Sub is a wholly-owned subsidiary of Parent, was formed and organized for the sole purpose of engaging in the transactions provided for
in this Agreement, has engaged in no other business or activity, and has conducted its operations only as contemplated hereby.

 

3.2 Authority;
Binding Nature of Agreement. Parent and Merger Sub have the corporate power and authority to enter into and to perform its obligations
under this Agreement, and the execution, delivery and performance by Parent and Merger Sub of this Agreement have been duly authorized
by all necessary action on the part of Parent and Merger Sub and their respective board of directors. No vote of Parent’s stockholders
is needed to approve the Merger. This Agreement constitutes the legal, valid and binding obligation of Parent and Merger Sub, enforceable
against Parent and Merger Sub in accordance with its terms, subject to (a) laws of general application relating to bankruptcy, insolvency
and the relief of debtors, and (b) rules of law governing specific performance, injunctive relief and other equitable remedies.

 

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3.3 Non-Contravention;
Consents. Except as may be required by the DGCL, neither Parent nor Merger Sub are required to make any filing with or give any
notice to, or to obtain any Consent from, any Person in connection with the execution and delivery of this Agreement or any of the other
agreements referred to in this Agreement, nor the consummation of the Merger or any of the other transactions contemplated by this Agreement.
Neither the execution and delivery of this Agreement or any of the other agreements referred to in this Agreement by Parent and Merger
Sub, nor the consummation of the Merger or any of the other transactions contemplated by this Agreement, will directly or indirectly
(with or without notice or lapse of time) contravene, conflict with or result in a violation of, or give any Governmental Body or other
Person the right to challenge the consummation of the Merger or any of the other transactions contemplated by this Agreement or to exercise
any remedy or obtain any relief under, any Legal Requirement or any order, writ, injunction, judgment or decree to which Parent or Merger
Sub is subject.

 

SECTION
4. Additional
Covenants of the Parties

 

4.1 Tax
Matters.

 

(a) Except
as set forth in Section 4.1(a) of the Disclosure Schedule, the Company has prepared and filed (or cause to be prepared and filed) with
the appropriate Governmental Body all Tax Returns required to be filed by the Company with respect to any Pre-Closing Tax Period that
are due on or before the Closing Date. Such Tax Returns shall be prepared in a manner consistent with prior practice (except as otherwise
required by Law).

 

(b) Parent
shall prepare and file (or cause to be prepared and filed) with the appropriate Governmental Body all Tax Returns required to be filed
by the Company that are due after the Closing Date.

 

(c) The
Agent shall cooperate fully, as and to the extent reasonably requested by Parent, in connection with any Tax Contest and the preparation
and filing of each Tax Return. Such cooperation shall include, upon either party’s request, providing records and information that
are reasonably relevant to such Tax Contest or Tax Return, making employees available on a mutually convenient basis to provide additional
information, and explaining any materials provided. The parties shall not destroy or dispose of any Tax workpapers, schedules or other
materials and documents supporting Tax Returns of the Company for Pre-Closing Tax Periods until 90 days after the expiration of the applicable
statute of limitations, as extended, related to that Tax Period, without the prior written consent of the other party, and before any
disposition or destruction of such materials at any time, the party in possession of such materials will provide the other party the
opportunity to take possession of such materials and documents.

 

(d) The
Equityholders shall be liable for all transfer, value added, excise, stock transfer, stamp, recording, registration and any similar Taxes
(“Transfer Taxes”) that become payable in connection with the Merger and other transactions contemplated hereby. Parent
will cooperate in filing such forms and documents as may be necessary to permit any such Transfer Tax to be assessed and paid on or prior
to the Closing Date in accordance with any available pre-sale filing procedure, and to obtain any exemption or refund of any such Transfer
Tax.

 

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(e) The
portion of any Taxes that are payable with respect to any Straddle Period that are attributable to the Pre-Closing Tax Period shall be
calculated as follows: (i) in the case of Taxes that are either: (A) based upon or related to income, receipts or payroll; or (B) imposed
in connection with any sale or other transfer or assignment of property (real or personal, tangible or intangible), deemed equal to the
amount that would be payable if the Tax period of the Company ended on the Closing Date; provided, that exemptions, allowances or deductions
that are calculated on an annual basis (including depreciation and amortization deductions) shall be allocated between the period ending
on and including the Closing Date and the period beginning after the Closing Date in proportion to the number of days in each period;
and (ii) in the case of Taxes that are imposed on a periodic basis with respect to the Company and are not described in (i), deemed to
be the amount of such Taxes for the entire Straddle Period (or, in the case of such Taxes determined on an arrears basis, the amount
of such Taxes for the immediately preceding period), multiplied by a fraction the numerator of which is the number of calendar days in
the portion of the period ending on and including the Closing Date and the denominator of which is the number of calendar days in the
entire Straddle Period.

 

(f) Parent
shall notify the Agent as soon as practicable after the commencement of any audit by any Governmental Body relating to the liability
of the Company for Taxes for any Pre-Closing Tax Period. Parent shall control the defense of all audits and proceedings related to the
Company and the Surviving Company, provided that the Agent shall have the right to participate, at its own expense, in any audit or proceeding
related to any Pre-Closing Tax Period of the Company or the Surviving Company (including the right to participate in the preparation
of any response to any audit inquiry) if and to the extent the result of such audit or proceeding could impose additional liability for
Taxes with respect to periods prior to the Closing Date. Parent shall not settle, or cause or permit the Company or the Surviving Company
to settle, any such audit or proceeding that has the effect of imposing additional liability for indemnification of Taxes on the Equityholders
with respect to any Pre-Closing Tax Period without the prior written consent of the Agent, which consent may not be unreasonably withheld,
conditioned or delayed.

 

4.2 Option
Issuances. As soon as practicable after the Closing Date, Parent shall issue options to purchase shares of Parent Common Stock
to those certain individuals and in the amounts as set forth in Schedule 4.2.

 

SECTION
5. Conditions
Precedent to Obligations of Parent and Merger Sub

 

The
obligations of Parent and Merger Sub to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are
subject to the satisfaction (or waiver by Parent, to the extent permitted by law), at or prior to the Closing, of each of the following
conditions:

 

5.1 Accuracy
of Representations. The representations and warranties set forth in Section 2 shall be true and correct in all respects
on and as of the date of this Agreement, except to the extent that any representation or warranty expressly refers to an earlier date,
in which case such representation or warranty shall be accurate on and as of such earlier date.

 

5.2 Performance
of Covenants. All of the covenants and obligations that the Company is required to comply with or to perform at or prior to the
Closing under this Agreement shall have been complied with and performed in all material respects.

 

5.3 Company
Stockholder Approval. The principal terms of the Merger and the transactions contemplated herein shall have been duly approved
by the Company Stockholders.

 

5.4 Consents.
The Consents identified in Schedule 5.4 shall have been obtained and shall be in full force and effect.

 

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5.5 Agreements
and Documents. Parent shall have received the following agreements and documents, each of which shall be in full force and effect:

 

(a) a
certificate of the Company’s Secretary in form and substance reasonably acceptable to Parent, attesting to, and attaching thereto:
(i) the Company’s articles of incorporation as in effect at the time of the Closing, (ii) the Company’s bylaws as in effect
at the time of the Closing; (iii) the incumbency of the Company’s officers executing this Agreement and the other agreements and
documents executed in connection with the Merger, (iv) resolutions of the board of directors and stockholders of the Company authorizing
the consummation of the Merger and the transactions associated therewith, and (v) a good standing certificate with respect to the Company
from the Secretary of State of the State of Delaware and any other jurisdiction in which the Company is qualified to do business, dated
no more than five (5) days prior to the Closing;

 

(b) written
evidence of termination of the Company Stockholder Agreements (i.e., signatures of the Company and the other parties to such Company
Stockholder Agreements that are required for termination);

 

(c) an
executed payoff letter from all lenders with respect to Company Debt, addressed to Parent and in form and substance reasonably satisfactory
to Parent, and validly executed termination statements under the Uniform Commercial Code and any other applicable Legal Requirement,
in recordable form, and other instruments as may be reasonably requested by Parent, in each case, evidencing the extinguishment of all
security interests and other Encumbrances related to the Company or any of its assets;

 

(d) the
executed License Agreement;

 

(e) an
executed payoff letter from counsel to the Company, addressed to Parent and in form and substance reasonably satisfactory to Parent,
confirming receipt of all amounts owed by the Company to such counsel in respect of the transactions contemplated hereby and agreeing
that the Company does not owe any further amounts to counsel to the Company;

 

(f) written
resignations of all officers and directors of the Company to the extent requested by Parent, effective as of the Effective Time; and

 

(g) such
other certificates and agreements as reasonably requested by Parent and delivered by or on behalf of the Company at Closing, in form
and substance reasonably acceptable to Parent.

 

SECTION
6. Indemnification,
Etc.

 

6.1 Survival
of Representations, Etc.

 

(a) The
representations and warranties of the Company set forth in this Agreement shall expire on the twelve (12) month anniversary following
the Closing Date, except that (i) the Fundamental Representations shall survive the Closing indefinitely; and (ii) the Tax
Representations shall survive the Closing and then terminate and expire on the date that is six (6) months after the expiration of the
applicable statute of limitations, including any extensions of a statute of limitations; provided, however, that if a Claim Notice
with respect to a particular representation or warranty of any Party is given to such Party on or prior to the applicable expiration
date of such representation or warranty, then, notwithstanding anything to the contrary contained in this Section 6.1(a), the
claim asserted in such Claim Notice shall survive until such time as such claim is fully and finally resolved. The covenants of each
Party to this Agreement shall survive the Closing indefinitely unless a shorter period is specified herein. The Parties acknowledge that
the time periods set forth in this Section 6.1(a) and elsewhere in this Agreement for the assertion of claims and notices under
this Agreement are the result of arms’-length negotiation among the Parties and that they intend for the time periods to be enforced
as agreed by the Parties.

 

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(b) The
representations, warranties, covenants and obligations of the Company, and the rights and remedies that may be exercised by the Indemnitees,
shall not be limited or otherwise affected by or as a result of any information furnished to, or any investigation made by or knowledge
of, any of the Indemnitees or any of their Representatives.

 

(c) For
purposes of this Agreement, a “Claim Notice” relating to a particular representation, warranty, covenant or other
matter to which a party is entitled to indemnification hereunder shall be deemed to have been given if any Indemnitee, acting in good
faith, delivers to the Agent a written notice stating that such party believes that there is or has been a possible inaccuracy in or
breach of such representation or warranty, or non-compliance, non-performance or breach of covenant or obligation, or that such Indemnitee
is otherwise entitled to indemnification hereunder, and containing (i) a brief description (to the extent then known) of the circumstances
supporting such Indemnitee’s belief that there is or has been such a possible inaccuracy, breach, non-compliance or non-performance
or that such Indemnitee is entitled to indemnification and (ii) to the extent known, a non-binding, preliminary estimate of the aggregate
dollar amount of the actual and potential Damages that have arisen and may arise as a direct or indirect result of such possible inaccuracy,
breach, non-compliance or non-performance or other matter giving rise to the right of indemnification (the aggregate amount of such estimate,
as it may be modified by the Indemnitee in good faith from time to time, being referred to as the “Claimed Amount”).

 

(d) For
all purposes of this Section 6, when determining the amount of Damages attributable to a breach of any of the representations
and warranties set forth in this Agreement, no effect shall be given to any materiality (including Material Adverse Effect) qualifiers
contained therein.

 

(e) For
purposes of this Agreement, each statement or other item of information set forth in the Disclosure Schedule shall be deemed to be a
representation and warranty made by the Company in this Agreement.

 

6.2 Indemnification
by Equityholders.

 

(a) Subject
to the provisions of this Section 6, from and after the Effective Time, each Equityholder, in proportion to such Equityholder’s
Indemnification Percentage, shall hold harmless and indemnify each of the Indemnitees from and against, and shall compensate and reimburse
each of the Indemnitees for, any Damages that are directly or indirectly suffered or incurred by any of the Indemnitees or to which any
of the Indemnitees may otherwise become subject at any time (regardless of whether or not such Damages relate to any third-party claim)
and that arise directly or indirectly from or as a direct or indirect result of, or are directly or indirectly connected with:

 

(i) any
inaccuracy in or breach of any representation or warranty set forth in Section 2 of this Agreement as of the date of this Agreement;

 

(ii) any
breach of or non-compliance with any covenant or obligation of the Company contained in this Agreement;

 

(iii) any
Indemnified Taxes;

 

(iv) notwithstanding
any disclosure on the Disclosure Schedule, any “excess parachute payment” (within the meaning of Section 280G(b) of the Code)
made by the Company on or prior to the Closing Date or otherwise required to be paid by the Company or the Surviving Company pursuant
to agreements or employee plans entered into or adopted on or prior to the Closing Date;

 

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(v) any
Legal Proceeding directly or indirectly relating to any breach, alleged breach, liability or matter of the type referred to in clauses
(i) through (iii) above (including any Legal Proceeding commenced by any Indemnitee for the purpose of enforcing any of its rights under
this Section 6).

 

(b) The
Company acknowledges and agrees that, if the Surviving Company suffers, incurs or otherwise becomes subject to any Damages as a result
of or in connection with any inaccuracy in, breach of or noncompliance with any representation, warranty, covenant or obligation or other
matter referred to in Section 6.2(a), then (without limiting any of the rights of the Surviving Company as an Indemnitee) Parent
shall also be deemed, by virtue of its ownership of the stock of the Surviving Company, to have incurred Damages as a result of and in
connection with such matters but Damages shall not be double-counted under any circumstances.

 

(c) Except
(i) with respect to claims based on fraud or willful misconduct (collectively, “Fraud”) and (ii) inaccuracies in or
breaches of the Fundamental Representations and Tax Representations, a reduction in the number of Holdback Shares shall be the sole and
exclusive remedy for monetary Damages resulting from the matters referred to in Sections 6.2(a)(i), 6.2(a)(ii), 6.2(a)(iii)
and 6.2(a)(v).

 

(d) Except
(i) with respect to claims based on Fraud and (ii) inaccuracies in or breaches of the Fundamental Representations and Tax Representations,
the maximum liability for each Equityholder for the aggregate amount of Damages arising under Sections 6.2(a)(i), 6.2(a)(ii),
6.2(a)(iii) and 6.2(a)(v) shall not exceed such Equityholder’s proportionate share of the Holdback Shares.

 

(e) Except
with respect to claims based on Fraud, each Equityholder’s maximum liability for the aggregate amount of Damages arising under
this Agreement shall not exceed the Merger Consideration received by such Equityholder.

 

(f) Notwithstanding
anything herein to the contrary, nothing in this Section 6 shall in any way limit or qualify any right, claim or cause of action,
or Damages recoverable in connection therewith, that Parent may have against any Person in respect of Fraud committed by such Person.

 

(g) For
the purpose of recovering indemnification payments for which the Indemnitees may be entitled under this Section 6, Parent shall
seek satisfaction of any such indemnification obligations solely from a reduction in the number of Holdback Shares.

 

6.3 
Indemnification Procedures.

 

(a) The
Indemnitees shall promptly notify the Agent of any third-party claim, demand, action or Legal Proceeding for which indemnification will
or may be sought under Section 6.3 (a “Third Party Claim”), but in no event later than ten (10) Business Days
after receiving notice of such Third Party Claim; provided, however, that the failure to so notify the Agent will not relieve
the Equityholders from liability hereunder in respect of such claim except to the extent the Equityholders are actually prejudiced as
a result of such failure. Such notice shall specify facts reasonably known to the Indemnitees giving rise to such indemnity rights. Parent
shall have the right, at its election, to proceed with the defense of such Third Party Claim on its own. If Parent so proceeds with the
defense of any such Third Party Claim: (i) all reasonable expenses relating to the defense of such Third Party Claim shall be borne and
paid (as provided and subject to the limitations provided herein) exclusively by the Equityholders; (ii) the Agent and the Equityholders
shall make available to Parent any documents and materials in its possession or control that may be necessary to the defense of such
Third Party Claim; and (iii) Parent shall have the right to settle, adjust or compromise such Third Party Claim with the consent of the
Agent; provided, however, that such consent shall not be unreasonably withheld, conditioned or delayed. If Parent elects not to
assume the defense or fails to notify the Agent within 10 business days after delivery of the Indemnitee’s notice of such Third
Party Claim that Parent will assume the defense, then the Agent may employ counsel reasonably satisfactory to Parent to represent or
defend the Equityholders against any such Third Party Claim at the Agent’s own expense; provided, however, that in such
case Parent shall have the right to participate in, but not control, the defense of any such Third Party Claim. In connection with any
Third Party Claim, the parties shall cooperate with each other in good faith in such manner to preserve in full (to the extent possible)
the confidentiality of all business records and the attorney-client work-product and any other potentially applicable privileges and
to render each other assistance as they may reasonably require. No Third Party Claim shall be settled by the Agent without the prior
written consent of Parent, unless the settlement requires solely the payment of money by persons or parties other than Parent and Surviving
Company. Notwithstanding the foregoing, in respect of any third-party claim involving Taxes, if there is a conflict between the procedures
set forth in this Section 6.3 and those set forth in Section 4.1, the procedures in Section 4.1 shall govern.

 

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(b) As
soon as reasonably practicable after becoming aware of a direct claim for indemnification under Section 6.3(a) other than a Third
Party Claim (a “Direct Claim”), the Indemnitees shall give a Claim Notice to the Agent of such Direct Claim; provided,
however, that the failure to so notify the Agent will not relieve the Equityholders from liability hereunder in respect of such claim
except to the extent the Equityholders are actually prejudiced as a result of such failure.

 

(c) Within
ten (10) days after receipt by the Agent of a Claim Notice, the Agent may deliver to the Indemnitees a written response (the “Response
Notice”) in which the Agent: (i) agrees that the full Claimed Amount (the “Full Amount”) is owed to
the Indemnitees); (ii) agrees that part, but not all, of the Claimed Amount (the “Agreed Amount”) is owed to the Indemnitees
); or (iii) indicates that no part of the Claimed Amount is owed to the Indemnitees. Any part of the Claimed Amount that is not
agreed to be released to the Indemnitees pursuant to the Response Notice shall be the “Contested Amount.” If the Response
Notice is not received by the Indemnitees within such ten (10)-day period, then the Equityholders shall be conclusively deemed to have
agreed that the Full Amount is owed to the Indemnitees.

 

(d) If
the Agent delivers a Response Notice indicating that there is a Contested Amount, the Agent and the Indemnitees shall attempt in good
faith to resolve the dispute related to the Contested Amount. If the Agent and the Indemnitees resolve such dispute, such resolution
shall be binding on the Equityholders and the Indemnitees, and an agreement setting forth the parties’ resolution shall be signed
by the Indemnitees and the Agent and sent to the Escrow Agent.

 

(e) 
The Parties agree that any amount paid to any Indemnitee pursuant to this Section 6 shall be treated as a reduction in the
Merger Consideration for Tax purposes.

 

6.4 Agent.

 

(a) By
virtue of the approval of the Merger and the adoption of this Agreement, the Equityholders hereby, and by virtue irrevocably nominate,
constitute and appoint WT IP Holdings, LLC as the agent and true and lawful attorney-in-fact of the Equityholders (the “Agent”),
with full power of substitution, to act in the name, place and stead of the Equityholders for purposes of executing any documents and
taking any actions that the Agent may, in his, her or its sole discretion, determine to be appropriate in connection with the consummation
of the Merger or any of the other transactions contemplated by this Agreement. WT IP Holdings, LLC hereby accepts its appointment as
Agent.

 

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(b) By
virtue of the approval of the Merger and the adoption of this Agreement, the Equityholders hereby grant to the Agent full authority to
execute, deliver, acknowledge, certify, file and record on behalf of the Equityholders (in the name of the Equityholders or otherwise)
any and all documents that the Agent may, in his, her or its sole discretion, determine to be appropriate, in such forms and containing
such provisions as the Agent may, in his, her or its sole discretion, determine to be appropriate (including any amendment to or waiver
of rights under this Agreement or any of the other agreements referred to in this Agreement). Notwithstanding anything to the contrary
contained in any of this Agreement or any of the other agreements referred to in this Agreement:

 

(i) Parent
shall be entitled to deal exclusively with the Agent on all matters relating to this Agreement or any of the other agreements referred
to in this Agreement and the consummation of the Merger or any of the other transactions contemplated by this Agreement (including all
matters relating to any notice to, or any Consent to be given or action to be taken by, the Equityholders); and

 

(ii) each
Indemnitee shall be entitled to rely conclusively (without further evidence of any kind whatsoever) on any document executed or purported
to be executed on behalf of the Equityholders by the Agent, and on any other action taken or purported to be taken on behalf of the Equityholders
by the Agent, as fully binding upon the Equityholders.

 

(c) The
Equityholders recognize and intend that the power of attorney granted in Section 6.5(a): (i) is coupled with an interest and is
irrevocable; (ii) may be delegated by the Agent; and (iii) shall survive the death, incapacity, or dissolution, if applicable, of each
Equityholder.

 

(d) If
the Agent shall die, become disabled or otherwise be unable to fulfill his, her or its responsibilities hereunder, the Equityholders,
within ten (10) days after such death or disability, shall appoint a successor to the Agent and immediately thereafter notify Parent
of the identity of such successor. Any such successor shall succeed the Agent as Agent hereunder.

 

(e) All
expenses incurred by the Agent in connection with the performance of his, her or its duties as Agent shall be borne and paid by the Equityholders
and not by Parent or the Surviving Company.

 

6.5 No
Contribution. The Equityholders waive, acknowledge and agree that they shall not have and shall not exercise or assert (or attempt
to exercise or assert), any right of contribution, right of indemnity or other right or remedy against the Surviving Company in connection
with any indemnification obligation or any other liability to which he, she or it may become subject under or in connection with this
Agreement.

 

6.6 Exclusive
Remedy. Claims for indemnification, compensation and reimbursement brought in accordance with and subject to this Section
6 shall be the sole and exclusive remedy of any Indemnitee for monetary Damages from and after the Effective Time with respect to
this Agreement, except with respect for claims based on Fraud. Nothing in this Section 6.7 shall limit or restrict the ability
or right of any Indemnitee to seek injunctive or other equitable relief for any breach or alleged breach of this Agreement or any provision
hereof.

 

SECTION
7. Miscellaneous
Provisions

 

7.1 Further
Assurances. Each Party hereto shall execute and cause to be delivered to each other Party hereto such instruments and other documents,
and shall take such other actions, as such other party may reasonably request after the Closing for the purpose of carrying out or evidencing
any of the transactions contemplated by this Agreement.

 

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7.2 Fees
and Expenses. Except as otherwise provided in this Agreement, each of the Parties hereto shall bear and pay all of their own
fees, costs and expenses (including legal fees, accounting fees and investment banking fees) that have been incurred or that are incurred
by or on behalf of the Parties in connection with this Agreement and the transactions contemplated hereby (“Transaction Expenses”).

 

7.3 Attorneys’
Fees. If any action or Legal Proceeding relating to this Agreement or the enforcement of any provision of this Agreement is brought
against any party hereto, the prevailing party shall be entitled to recover reasonable attorneys’ fees, costs and disbursements
(in addition to any other relief to which the prevailing party may be entitled).

 

7.4 Notices.
Any notice or other communication required or permitted to be delivered to any party under this Agreement shall be in writing and
shall be deemed properly delivered, given and received when delivered (by hand, by registered mail, by courier or express delivery service
or by electronic mail) to the address or email set forth beneath the name of such party below (or to such other address or facsimile
telephone number as such party shall have specified in a written notice given to the other parties hereto):

 

if
to Parent or Merger Sub:

 

[*****]

Attention:
[*****]

Email:
[*****]

 

with
a copy (which shall not constitute notice) to:

 

[*****]

Attention:
[*****]

Email:
[*****]

 

if
to the Company (prior to the Closing):

 

[*****]

Attention:

Email:

 

with
a copy (which shall not constitute notice) to:

 

[*****]

Email:
[*****]

 

if
to the Agent:

 

[*****]

Attention:
[*****]

Email:
[*****]

 

with
a copy (which shall not constitute notice) to:

 

[*****]

Email:
[*****]

 

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7.5 Headings.
The underlined headings contained in this Agreement are for convenience of reference only, shall not be deemed to be a part of this
Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement.

 

7.6 Counterparts.
This Agreement may be executed in one or more counterparts (including by facsimile signature or by other electronic means, such as
..pdf file), all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have
been signed by each of the parties and delivered to the other parties.

 

7.7 Governing
Law. This Agreement, and all claims or causes of action (whether in contract, tort or otherwise) that may be based upon, arise
out of or relate to this Agreement or the negotiation, execution or performance of this Agreement and/or the transactions contemplated
hereby (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in
connection with this Agreement or as an inducement to enter into this Agreement), shall be governed by and construed in accordance with
the internal Laws of the State of Delaware (disregarding any conflict or choice of law provisions therein).

 

7.8 Submission
to Jurisdiction. Each Party hereto irrevocably and unconditionally (a) accepts the exclusive jurisdiction and venue of the state
courts sitting in Delaware or any federal court sitting in the District of Delaware (together, the “Chosen Courts”)
in any action or proceeding arising out of or related to this Agreement, (b) waives any objections which such party may now or hereafter
have to the laying of venue of any of the aforesaid actions or proceedings brought in a Chosen Court and agrees not to plead or claim
in a Chosen Court that such action or proceeding brought in a Chosen Court has been brought in an inconvenient forum, (c) agrees that
service of all process in any such proceeding in a Chosen Court may be made by registered or certified mail, return receipt requested,
to such party at their respective addresses provided in accordance with Section 7.4; and (d) agrees that service as provided in
clause (c) above is sufficient to confer personal jurisdiction over such party in any such proceeding in a Chosen Court, and otherwise
constitutes effective and binding service in every respect. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING CONTEMPLATED HEREBY.

 

7.9 Successors
and Assigns.

 

(a) This
Agreement shall be binding upon: the Company and its successors and permitted assigns (if any); the Agent and its successors and assigns
(if any); and Parent and Merger Sub, and their successors and permitted assigns (if any). This Agreement shall inure to the benefit of:
the Company, the Agent, Parent, Merger Sub, the other Indemnitees, and the respective successors and permitted assigns (if any) of the
foregoing.

 

(b) Prior
to the Closing, neither this Agreement nor any rights or obligations hereunder may be assigned by any party hereto without the prior
written consent of the other parties hereto. Following the Closing, Parent may freely assign any or all of its rights under this Agreement
(including its indemnification rights under Section 6), in whole or in part, to any other Person without obtaining the consent
or approval of any other party hereto; provided, that, such Person agrees in writing to be bound by the provisions of this Agreement.
Any attempted or purported assignment by any party of this Agreement in violation of this Section 7.9 shall be null and void.

 

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7.10 Specific
Performance. The Parties hereto agree that irreparable damage would occur and that the parties would not have any adequate remedy
at law in the event any provision of this Agreement was not performed in accordance with the specific terms hereof or were otherwise
breached. It is accordingly agreed that the parties hereto shall be entitled (in addition to any other remedies available to them) to
the remedies of specific performance (which shall include the right to obtain an order compelling a party’s counterparty hereto
to close the transactions contemplated by this Agreement) and injunctive relief (without bond or other security being required and without
the necessity of proving the inadequacy of money damages) to prevent breaches or threatened breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled at Law
or in equity.

 

7.11 Waiver.

 

(a) No
failure on the part of any Person to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of
any Person in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right,
privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy.

 

(b) No
Person shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement,
unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered
on behalf of such Person; and any such waiver shall not be applicable or have any effect except in the specific instance in which it
is given.

 

7.12 Amendments.
This Agreement may be amended by the Parties at any time by execution of an instrument in writing signed on behalf of each of the
Parties. Any extension or waiver by any Party of any provision hereto shall be valid only if set forth in an instrument in writing signed
on behalf of all Parties.

 

7.13 Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the
validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision
in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term
or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination shall have the power
to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with
a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable
term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted
to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term or provision with a valid and enforceable
term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable
term.

 

7.14 Parties
in Interest. Except for the provisions of Section 6, none of the provisions of this Agreement is intended to provide any
rights or remedies to any Person other than the Parties hereto and their respective successors and assigns (if any). Without limiting
the generality of the foregoing, (a) no employee of the Company shall have any rights under this Agreement or under any of the other
agreements related to the Merger, and (b) no creditor of the Company shall have any rights under this Agreement or any other agreements
related to the Merger.

 

7.15 Entire
Agreement. This Agreement and the other agreements referred to herein set forth the entire understanding of the Parties hereto
relating to the subject matter hereof and thereof and supersede all prior agreements and understandings among or between any of the parties
relating to the subject matter hereof and thereof; provided, however, that the Non-Disclosure Agreement shall not be superseded
by this Agreement and shall remain in effect in accordance with its terms until the earlier of (a) the Effective Time, or (b) the date
on which such Non-Disclosure Agreement is terminated in accordance with its terms.

 

    36

     

    

  

7.16 Construction.

 

(a) For
purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa; the masculine
gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and neuter genders; and the neuter
gender shall include the masculine and feminine genders.

 

(b) The
Parties hereto agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall
not be applied in the construction or interpretation of this Agreement.

 

(c) For
the purpose of analyzing whether any effect is “material” or constitutes a “Material Adverse Effect” for any
purpose under this Agreement, the analysis of materiality shall not be limited to a long-term perspective (and whether any effect is
or might be short-term, temporary or cyclical in nature shall not be dispositive of its materiality).

 

(d) As
used in this Agreement, the words “include” and “including,” and variations thereof, shall not be deemed to be
terms of limitation, but rather shall be deemed to be followed by the words “without limitation.”

 

(e) Except
as otherwise indicated, all references in this Agreement to “Sections” and “Exhibits” are intended to refer to
Sections of this Agreement and Exhibits to this Agreement.

 

(f) The
phrase “delivered to Parent” or similar phrases used in this Agreement shall mean that true and correct copies of the subject
document were posted to the Datasite on or prior to, and remain accessible to Parent on, the date that is two business days prior to
the date of this Agreement.

 

[Signature
page follows]

 

    37

     

    

 

The
parties hereto have caused this Agreement and Plan of Merger and Reorganization to be executed and delivered as of the date first written
above.

 

	 	MoneyLion Inc.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/
Diwakar Choubey
	 	 	Name:
    Diwakar Choubey
	 	 	Title:
    Chief Executive Officer
	 	 	 
	 	WTI Merger Sub, Inc.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/
Diwakar Choubey
	 	 	Name:
    Diwakar Choubey
	 	 	Title:
    Chief Executive Officer
	 	 	 
	 	Wealth Technologies Inc.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/
Arthur Berd
	 	 	Name: Arthur Berd
	 	 	Title: Authorized Signatory
	 	 	 
	 	WT IP Holdings, LLC,
	 	a Delaware limited liability company,
	 	as
AGENT
	 	 	 
	 	By:	/s/
Arthur Berd
	 	 	Name: Arthur Berd
	 	 	Title: Manager

 

     

     

    

 

EXHIBITS

 

	Exhibit
    A	-	Certain
    Definitions
	 	 	 
	Exhibit
    B	-	Form
    of Letter of Transmittal
	 	 	 
	Exhibit
    C	-	License
    Agreement
	 	 	 
	Exhibit
    D	-	Allocation
    of Merger Consideration

 

SCHEDULES

 

	Schedule
    4.2	-	Option
    Issuances

 

     

     

    

 

Exhibit
A

 

CERTAIN
DEFINITIONS

 

For
purposes of the Agreement (including this Exhibit A)

 

“Act”
shall mean the Securities Act of 1933, as amended.

 

“Affiliate”
shall mean as to any entity, any Person which directly or indirectly, is in control of, is controlled by, or is under common control
with, such entity, including any Person who would be treated as a member of a controlled group under Section 414 of the Code and any
officer or director of such entity. For purposes of this definition, an entity shall be deemed to be “controlled by” a Person
if the Person possesses, directly or indirectly, power either to (a) vote fifty percent (50%) or more of the securities (including convertible
securities) of such entity having ordinary voting power or (b) direct or cause the direction of the management or policies of such entity
whether by contract or otherwise; and, as to a Party who is a natural person, such person’s spouse, parents, siblings and lineal
descendants. For the avoidance of doubt, from and after the Closing, Parent’s Affiliates shall include, without limitation, the
Company.

 

“Affiliated
Group” shall mean any affiliated group within the meaning of Code Section 1504(a) or any similar group defined under a similar
provision of any applicable Legal Requirement.

 

“Agent”
shall have the meaning set forth in Section 6.5(a).

 

“Aggregate
Closing Shares” shall mean 539,592 shares of Parent C-1 Preferred Stock.

 

“Agreed
Amount” shall have the meaning set forth in Section 6.4(c).

 

“Agreement”
shall have the meaning set forth in the Preamble.

 

“Annual
Client Contract Value” shall be calculated by determining, for each Contract with a Client in effect and signed on or prior
to $100,000, the daily value of the renewable, recurring portion of such Contract (determined as of the close of business on $100,000),
then multiplying by 365 days to determine an annualized amount, and the daily value shall be calculated by dividing the renewable, recurring
portion of the total Contract value by the number of days in the Contract period.

 

“ASC
450” shall have the meaning set forth in Section 2.7(c).

 

“Balance
Sheet Date” shall have the meaning set forth in Section 2.7(a)(i).

 

“Books
and Records” means any and all business records, financial books and records, minute books, stock record books, sales order
files, purchase order files, engineering order files, warranty and repair files, supplier lists, customer lists, dealer, representative
and distributor lists, studies, surveys, analyses, strategies, plans, forms, designs, diagrams, drawings, specifications, technical data,
and production and quality control records and formulations.

 

“Business
Day” means any day that is not a Saturday or a Sunday or a day on which banks located in New York, New York are authorized
or required to be closed.

 

“Certificate
of Merger” shall have the meaning set forth in Section 1.3.

 

“Chosen
Courts” shall have the meaning set forth in Section 6.8.

 

     

     

    

 

“Claimed
Amount” shall have the meaning set forth in Section 6.1(c).

 

“Clients”
shall have the meaning set forth in Section 2.23(a).

 

“Closing”
shall have the meaning set forth in Section 1.3.

 

“Closing
Date” shall have the meaning set forth in Section 1.3.

 

“COBRA”
shall mean the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

“Company”
shall have the meaning set forth in the Preamble.

 

“Company
Common Stock” shall have the meaning set forth in Section 1.6(c).

 

“Company
Contract” shall mean any Contract: (a) to which the Company is a party; (b) by which the Company or any of its assets is or
may become bound or under which the Company has, or may become subject to, any obligation; or (c) under which the Company has or may
acquire any right or interest.

 

“Company
Databases” shall have the meaning set forth in Section 2.12(q)(ii).

 

“Company
Debt” shall mean any Indebtedness of the Company outstanding as of the Closing.

 

“Company
Employee” shall mean any current or former employee, independent contractor or director of the Company or any Company Subsidiary.

 

“Company
Employee Agreement” shall mean each management, employment, severance, consulting, relocation, repatriation or expatriation
agreement or other Contract between the Company or any Company Subsidiary and any Company Employee, other than any such management, employment,
severance, consulting, relocation, repatriation or expatriation agreement or other Contract with a Company Employee which is terminable
“at will” without any obligation on the part of the Company or any Company Subsidiary to make any payments or provide any
benefits in connection with such termination.

 

“Company
Employee Plan” shall mean any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance,
termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits
or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each “employee benefit plan,”
within the meaning of SECTION 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed
to, or required to be contributed to, by the Company or any Company Subsidiary for the benefit of any Company Employee, or with respect
to which the Company or any Company Subsidiary has or may have any liability or obligation, except such definition shall not include
any Company Employee Agreement.

 

“Company
Equity Plan” shall mean the Wealth Technologies Inc. 2018 Equity Compensation Plan.

 

“Company
Financial Statements” shall have the meaning set forth in Section 2.7(a).

 

     

     

    

 

“Company
IP” shall mean (a) all Intellectual Property Rights in or pertaining to the Company Products or methods or processes used to
manufacture the Company Products, (b) all other Intellectual Property Rights owned or exclusively licensed by the Company and (c) all
other Intellectual Property Rights used in the Company’s business, including without limitation all Intellectual Property, Software
and other proprietary rights contributed to WT IP Holdings, LLC pursuant to the Contribution Agreement.

 

“Company
IP Contract” shall mean any Contract to which the Company is a party or by which the Company is bound, that contains any assignment
or license of, or covenant not to assert or enforce, any Intellectual Property Right or that otherwise relates to any Company IP or any
Intellectual Property developed by, with, or for the Company.

 

“Company’s
Knowledge” shall mean the actual knowledge of the following individuals after reasonable due inquiry: [*****].

 

“Company
Options” shall mean a subscription, option, call, warrant or right of any kind to acquire any shares of Company Stock of the
Company, whether vested or unvested.

 

“Company
Pension Plan” shall mean each Company Employee Plan that is an “employee pension benefit plan,” within the meaning
of SECTION 3(2) of ERISA.

 

“Company
Privacy Policy” shall mean each external or internal, past or present privacy policy of the Company, including any policy relating
to (i) the privacy of users of the Company Products or of any Company Website, (ii) the collection, storage, disclosure, and transfer
of any User Data or Personal Data, and (iii) any employee information.

 

“Company
Product” shall mean any product or service designed, developed, manufactured, marketed, distributed, provided, licensed, offered
or sold at any time by the Company, including without limitation any product or service related to the assets contributed to WT IP Holdings,
LLC pursuant to the Contribution Agreement.

 

“Company
SAFE” shall mean any Simple Agreement for Future Equity issued by the Company.

 

“Company
Software” shall have the meaning set forth in Section 2.12(m).

 

“Company
Stock” shall mean the shares of the Company’s Common Stock and Preferred Stock.

 

“Company
Stockholders” shall mean the holders of Company Stock.

 

“Company
Stock Certificate” shall have the meaning set forth in Section 1.10(c).

 

“Company
Stockholder Agreements” shall mean Company’s Shareholders Agreement dated as of March 27, 2017.

 

“Company
Unaudited Interim Balance Sheet” shall have the meaning set forth in Section 2.7(a)(iii).

 

“Consent”
shall mean any approval, consent, ratification, permission, waiver or authorization (including any Governmental Authorization).

 

“Contested
Amount” shall have the meaning set forth in Section 6.4(c).

 

     

     

    

 

“Contract”
shall mean any written, oral or other agreement, contract, subcontract, lease, understanding, instrument, note, warranty, insurance policy,
benefit plan or legally binding commitment or undertaking of any nature.

 

“Contribution
Agreement” means the Contribution Agreement, dated December 31, 2020 between the Company and WT IP Holdings, LLC.

 

“Damages”
shall include claims, liabilities, damages, diminution of value, payments, obligations, losses, costs and expenses (including reasonable
attorneys’ fees, court costs, expert witness fees, transcript costs and other expenses of litigation), and judgments (at law or
in equity) of any nature, but shall not include special or punitive damages unless such damages are part of any judgment or award against
an Indemnitee in actions by third parties to the extent that any such judgment or award is subject to indemnification pursuant to Section
6.

 

“Datasite”
shall mean the datasite contributed to by the Company, but only to the extent that materials on such datasite were made generally available
to Parent and its Representatives on or prior to, and remain accessible to Parent and its Representatives on, the date that is two business
days prior to the date of this Agreement.

 

“DGCL”
shall mean the General Corporation Law of the State of Delaware.

 

“Direct
Claim” shall have the meaning set forth in Section 6.4(b).

 

“Disclosure
Schedule” shall have the meaning set forth in the preamble to Section 2.

 

“DOL”
shall mean the United States Department of Labor.

 

“Effective
Time” shall have the meaning set forth in Section 1.3.

 

“Encumbrance”
shall mean any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim, interference, option, right of first
refusal, preemptive right, community property interest or restriction of any nature (including any restriction on the voting of any security,
any restriction on the transfer of any security or other asset, any restriction on the receipt of any income derived from any asset,
any restriction on the use of any asset and any restriction on the possession, exercise or transfer of any other attribute of ownership
of any asset).

 

“Entity”
shall mean any corporation (including any non-profit corporation), general partnership, limited partnership, limited liability partnership,
joint venture, estate, trust, company (including any limited liability company or joint stock company), firm or other enterprise, association,
organization or entity.

 

“Environmental
Law” shall mean any federal, state, local or foreign Legal Requirement relating to pollution or protection of human health
or the environment (including ambient air, surface water, ground water, land surface or subsurface strata), including any law or regulation
relating to emissions, discharges, releases or threatened releases of Materials of Environmental Concern, or otherwise relating to the
manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Materials of Environmental Concern.

 

“Equityholders”
shall mean the Company Stockholders.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended.

 

     

     

    

 

“Expense
Amount” shall have the meaning set forth in Section 6.4(3).

 

“FCPA”
shall have the meaning set forth in Section 2.25.

 

“FMLA”
shall mean the Family Medical Leave Act of 1993, as amended.

 

“Foreign
Plan” shall mean: (a) any plan, program, policy, practice, Contract or other arrangement mandated by a Governmental Body other
than the United States; (b) any Company Employee Plan maintained or contributed to by the Company or any Company Subsidiary that is not
subject to United States law; and (c) any Company Employee Plan that covers or has covered Company Employees whose services are performed
primarily outside of the United States.

 

“Fraud”
shall have the meaning set forth in Section 6.2(c).

 

“Full
Amount” shall have the meaning set forth in Section 6.4(c).

 

“Fundamental
Representations” shall mean the representations and warranties set forth in Sections 2.1 (Due Organization), 2.3
(Capitalization), 2.5 (Authority; Binding Nature of Agreement), 2.6 (Non-Contravention; Consents), 2.9 (Title
to Assets), and 2.26 (Brokers).

 

“GAAP”
shall mean United States generally accepted accounting principles.

 

“Governmental
Authorization” shall mean any: (a) permit, license, certificate, franchise, permission, clearance, registration, qualification
or authorization issued, granted, given or otherwise made available by or under the authority of any Governmental Body or pursuant to
any Legal Requirement; or (b) right under any Contract with any Governmental Body.

 

“Governmental
Body” shall mean any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction
of any nature; (b) federal, state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental
authority of any nature (including any governmental division, department, agency, commission, instrumentality, official, organization,
unit, body or Entity and any court or other tribunal).

 

“Grant
Date” shall have the meaning set forth in Section 2.3(d).

 

“HIPAA”
shall mean the Health Insurance Portability and Accountability Act of 1996, as amended.

 

“Holdback
Shares” shall mean 53,955 shares of Parent C-1 Preferred Stock.

 

“Holdback
Shares Release Date” shall have the meaning set forth in Section 1.8.

 

     

     

    

 

“Indebtedness”
shall mean, without duplication, (a) all obligations of such Person for borrowed money, (b) any deficit balance in cash, (c) all obligations
evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable, (d)
all obligations of such Person issued or assumed for deferred purchase price payments, (e) all obligations of such Person for the reimbursement
of any obligor on any letter of credit, banker’s acceptance, guarantee or similar credit transaction, in each case, that has been
drawn or claimed against, (f) all interest rate and currency swaps, caps, collars and similar agreements or hedging devices under
which payments are obligated to be made by such Person, whether periodically or upon the happening of a contingency, (g) all obligations
created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even
though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale
of such property), (h) all obligations of such Person or another Person secured by an Encumbrance on any asset of such first Person,
whether or not such obligation is assumed by such first Person, (i) any prepayment fees or other fees, costs or expenses associated with
payment of any Indebtedness, (j) any unpaid Taxes of the Company, accrued as of the Closing Date in accordance with GAAP, which are due
and payable after the Closing Date, (k) any guaranty of any Indebtedness of any other Person, (j) any obligations resulting from or any
related to, directly or indirectly, amounts payable under the Company Equity Plans, and (k) any severance obligations attributable to,
directly or indirectly, agreements or arrangements entered into prior to Closing that become payable at or following Closing.

 

“Indemnification
Percentage” shall mean, for any Company Stockholder, the percentage obtained by dividing (a) the aggregate amount of Merger
Consideration that each Company Stockholder would otherwise be entitled to receive hereunder (prior to any Tax withholding by the Company)
divided by (b) the Merger Consideration that all Company Stockholders would otherwise be entitled to receive hereunder (prior to any
Tax withholding by the Company).

 

“Indemnified
Taxes” shall mean (i) all Taxes (or the non-payment thereof) of the Company for the Pre-Closing Tax Period (including, for
the avoidance of doubt, the portion of the Straddle Period ending on the Closing Date), (ii) all Taxes of any member of an Affiliated
Group of which the Company (or any predecessor of any the Company) is or was a member on or prior to the Closing Date, including pursuant
to Treasury Regulation Section 1.1502-6 or any analogous or similar state, local or foreign law or regulation, (iii) any and all Taxes
of any person imposed on the Company as a transferee or successor, by Contract or pursuant to any law, rule or regulation, which Taxes
relate to an event or transaction occurring before the Closing Date, (iv) any payment obligation of the Company pursuant to a Tax allocation,
Tax indemnity, Tax sharing or similar agreement of the Company, (v) any Transfer Taxes and (vi) all employer Taxes associated with payments
in respect of Company Options or other transaction-related compensation payable in connection with the transactions contemplated by this
Agreement.

 

“Indemnitees”
shall mean the following Persons: (a) Parent; (b) Parent’s current and future Affiliates (including the Surviving Company);
(c) the respective Representatives of the Persons referred to in clauses “(a)” and “(b)” above; and (d) the
respective successors and assigns of the Persons referred to in clauses “(a)”, “(b)” and “(c)” above;
provided, however, that the Equityholders shall not be deemed to be “Indemnitees.”

 

“Intellectual
Property” shall mean and include all algorithms, application programming interfaces, apparatus, circuit designs and assemblies,
databases and data collections, diagrams, formulae, gate arrays, IP cores, inventions (whether or not patentable), know-how, logos, marks
(including brand names, product names, logos, and slogans), methods, network configurations and architectures, net lists, photomasks,
processes, proprietary information, protocols, schematics, specifications, software, software code (in any form including source code
and executable or object code), subroutines, test results, test vectors, user interfaces, techniques, URLs, web sites, works of authorship,
and other forms of technology (whether or not embodied in any tangible form and including all tangible embodiments of the foregoing such
as instruction manuals, prototypes, samples, studies, and summaries).

 

“Intellectual
Property Rights” shall mean and include all rights of the following types, which may exist or be created under the laws of
any jurisdiction in the world: (a) rights associated with works of authorship, including exclusive exploitation rights, copyrights, moral
rights, and mask works; (b) trademark, service mark, trade dress and trade name rights and similar rights; (c) trade secret rights;
(d) patents, designs and industrial property rights; (e) rights in Intellectual Property of every kind and nature; (f) all registrations,
renewals, extensions, continuations, divisions, or reissues of, and applications for, any of the rights referred to in clauses (a) through
(e) above; and (g) all goodwill associated with any of the foregoing and any claims, proceeds or causes of action related to or arising
out of any of the foregoing.

 

     

     

    

 

“Interim
Balance Sheet Date” shall have the meaning set forth in Section 2.7(a)(iii).

 

“IRS”
shall mean the United States Internal Revenue Service.

 

“Law”
means each applicable law, order, judgment, rule, code, statute, regulation, requirement, variance, decree, writ, injunction, award,
ruling, or ordinance of any Governmental Body, including the common law.

 

“Legal
Proceeding” shall mean any action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative,
investigative or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced, brought, conducted or heard
by or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel.

 

“Legal
Requirement” shall mean any federal, state, local, municipal, foreign or other law, statute, constitution, principle of common
law, resolution, ordinance, code, edict, decree, rule, regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented
or otherwise put into effect by or under the authority of any Governmental Body.

 

“Letter
of Transmittal” shall have the meaning set forth in Section 1.9(a).

 

“Material
Adverse Effect” shall mean, with respect to any Person, a material adverse effect on (a) the business, assets, condition (financial
or otherwise), results of operations or prospects of such Person and its subsidiaries, taken as a whole, (b) the ability of such Person
to perform its obligations under this Agreement or (c) the ability of such Person to, or the timing when such Person may, consummate
the Merger.

 

“Material
Contracts” shall have the meaning set forth in Section 2.13(a).

 

“Materials
of Environmental Concern” include chemicals, pollutants, contaminants, wastes, toxic substances, petroleum and petroleum products
and any other substance that is now or hereafter regulated by any Environmental Law or that is otherwise a danger to health, reproduction
or the environment.

 

“Merger”
shall have the meaning set forth in the recitals.

 

“Merger
Consideration” shall mean 539,592 shares of Parent C-1 Preferred Stock having an agreed value of $27,929,174.00, issuable to
the Persons and in the amounts as set forth on Exhibit D hereto.

 

“Merger
Sub” shall have the meaning set forth in the Preamble.

 

“Open
Source Code” shall mean any software code that is distributed as “free software” or “open source software”
or is otherwise distributed publicly in source code form under terms that permit modification and redistribution of such software. Open
Source Code includes software code that is licensed under the GNU General Public License, GNU Lesser General Public License, Mozilla
License, Common Public License, Apache License, BSD License, Artistic License, or Sun Community Source License.

 

     

     

    

 

“Optionholders”
shall mean the holders of Company Options.

 

“Parent”
shall have the meaning set forth in the Preamble.

 

“Parent
Stock Option” shall mean a stock option granted under the MoneyLion 2014 Equity Incentive Plan, as amended.

 

“Parties”
shall have the meaning set forth in the Preamble.

 

“Per
Common Share Closing Shares” shall mean 2.44287 shares of Parent C-1 Preferred Stock.

 

“Per
Common Share Holdback Shares” shall mean 0.27143 shares of Parent C-1 Preferred Stock.

 

“Per
Preferred Share Closing Shares” shall mean 2.44287 shares of Parent C-1 Preferred Stock.

 

“Per
Preferred Share Holdback Shares” shall mean 0.27143 shares of Parent C-1 Preferred Stock.

 

“Person”
shall mean any individual, Entity or Governmental Body.

 

“Personal
Data” shall mean any information related, directly or indirectly, to an identified or identifiable natural person.

 

“Pre-Closing
Tax Period” shall mean any taxable year or period that ends on or before the Closing Date.

 

“Registered
IP” shall mean all Intellectual Property Rights that are registered, filed, or issued under the authority of any Governmental
Body, including all patents, registered copyrights, registered mask works, and registered trademarks and all applications for any of
the foregoing.

 

“Remaining
Holdback Shares” shall have the meaning set forth in Section 1.8.

 

“Related
Party.” Each of the following shall be deemed to be a “Related Party”: (a) each individual who is,
or who has at any time been, an officer, director, stockholder, or employee of the Company; (b) each member of the family of each of
the individuals referred to in clause “(a)” above; and (c) any Entity (other than the Company) in which any one of the individuals
referred to in clauses “(a)” and “(b)” above holds or held (or in which more than one of such individuals collectively
hold or held), beneficially or otherwise, a controlling interest or a material voting, proprietary or equity interest.

 

“Representatives”
shall mean officers, directors, employees, agents, attorneys, accountants, advisors and representatives.

 

“Response
Notice” shall have the meaning set forth in Section 6.4(c).

 

“Reserve
Shares” shall have the meaning set forth in Section 1.8.

 

“[*****]
License” means the Technology and Source Code License Agreement dated April 1, 2020, by and between the Company and [*****].

 

“Subsidiary”
means (i) Aqqru LLC and (ii) WT IP Holdings, LLC for any period of time prior to the distribution of all of the membership interests
of WT IP Holdings, LLC to the Company’s shareholders.

 

     

     

    

 

“Surviving
Company” shall have the meaning set forth in Section 1.1.

 

“Tax”
shall mean all taxes of any kind whatsoever (including, without limitation, any income tax, franchise tax, capital gains tax, gross receipts
tax, value-added tax, surtax, excise tax, ad valorem tax, transfer tax, stamp tax, sales tax, use tax, property tax, business tax, withholding
tax or payroll tax), and any levy, assessment, tariff, duty (including any customs duty), deficiency or fee, and any related charge or
amount (including any fine, penalty or interest), imposed, assessed or collected by or under the authority of any Governmental Body.

 

“Tax
Contest” shall mean any audit, investigation, litigation, suit or similar proceeding involving any Taxes or Tax issue.

 

“Tax
Representations” shall mean the representations and warranties set forth in Section 2.17 (Tax Matters).

 

“Tax
Return” shall mean any return (including any information return), report, statement, declaration, estimate, schedule, notice,
notification, form, election, certificate or other document or information filed with or submitted to, or required to be filed with or
submitted to, any Governmental Body in connection with the determination, assessment, collection or payment of any Tax or in connection
with the administration, implementation or enforcement of or compliance with any Legal Requirement relating to any Tax.

 

“Third
Party Claim” shall have the meaning set forth in Section 6.4(a).

 

“Third
Party Royalties” shall have the meaning set forth in Section 2.12(e).

 

“Transaction
Documents” means this Agreement, each Letter of Transmittal, each Option Cancellation Agreement and each of the other agreements
and instruments contemplated hereby and thereby to be executed by the Company, Parent, a Company Stockholder and/or any of their respective
Affiliates.

 

“Transaction
Expenses” shall have the meaning set forth in Section 7.2.

 

“Transfer
Taxes” shall have the meaning set forth in Section 4.1(d).

 

“Unsatisfied
Damages” shall have the meaning set forth in Section 6.3.

 

“User
Data” shall mean any Personal Data or other data or information collected by or on behalf of the Company from users of the
Company Products or of any Company Website.

 

“Vendors”
shall have the meaning set forth in Section 2.23(b).

 

     

     

    

 

Exhibit
B

 

[*****]

 

     

     

    

 

Exhibit
C

 

[*****]

 

     

     

    

 

Exhibit
D

 

[*****]

 

     

     

    

 

SCHEDULE
4.2

 

[*****]Exhibit 10.9

 

[*****] = Certain information contained in
this document, marked by brackets, has been omitted because it is both not material and would be competitively harmful if publicly disclosed.

 

LOAN AND SECURITY
AGREEMENT

 

THIS LOAN AND SECURITY
AGREEMENT (this “Agreement”) dated as of July 1, 2020 (the “Effective Date”) by and among (a) SILICON
VALLEY BANK, a California corporation (“Bank”), and (b) (i) MONEYLION INC., a Delaware corporation (“Parent
Borrower”) and (ii) ML PLUS LLC, a Delaware limited liability company (“ML Plus”) (“ML Plus”
and, together with Parent Borrower, jointly and severally, individually and collectively, “Borrower”), provides the
terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows:

 

1 ACCOUNTING
AND OTHER TERMS

 

Accounting terms not defined
in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP. Notwithstanding the
foregoing, all financial covenant and other financial calculations shall be computed with respect to Borrower only, and not on a consolidated
basis. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained
in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein.

 

2 LOAN
AND TERMS OF PAYMENT

 

2.1 Promise
to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued
and unpaid interest thereon as and when due in accordance with this Agreement.

 

2.2 Revolving
Line.

 

(a) Availability.
Subject to the terms and conditions of this Agreement and to the deduction of Reserves, Bank shall make Advances not exceeding the Availability
Amount. Amounts borrowed under the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to
the applicable terms and conditions precedent herein. Notwithstanding the foregoing, Borrower shall request on the Effective Date Advances
in an amount equal to the Availability Amount and Borrower shall use the proceeds of such Advances, together with the Term Loan Advance,
to repay in full all principal, interest and other obligations of Borrower owed to Pacific Western Bank, provided, once Borrower has repaid
in full all principal, interest and other obligations of Borrower owed to Pacific Western Bank, future Advances can be used for the purposes
set forth in Section 5.9 of this Agreement.

 

(b) Termination;
Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest
thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable.

 

2.3 Letters
of Credit Sublimit.

 

(a) As part
of the Revolving Line, Bank shall issue or have issued Letters of Credit denominated in Dollars or a Foreign Currency for Borrower’s
account. The aggregate Dollar Equivalent amount utilized for the issuance of Letters of Credit shall at all times reduce the amount otherwise
available for Advances under the Revolving Line. The aggregate Dollar Equivalent of the face amount of outstanding Letters of Credit (including
drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed the lesser of (i) (A) Two Million Dollars ($2,000,000.00),
minus (B) amounts used for Cash Management Services, and minus (C) the FX Reduction Amount and (ii) (A) the Revolving Line, minus (B)
the sum of all outstanding principal amounts of any Advances (including any amounts used for Cash Management Services), and minus (C)
the FX Reduction Amount.

 

(b) If,
on the Revolving Line Maturity Date (or the effective date of any termination of this Agreement), there are any outstanding Letters of
Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to at least one hundred five percent (105.0%)
for Letters of Credit denominated in Dollars or at least one hundred ten percent (110.0%) for Letters of Credit denominated in a Foreign
Currency, in each case of the aggregate Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and
costs due or estimated by Bank to become due in connection therewith, to secure all of the Obligations relating to such Letters of Credit.
All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions
of Bank’s standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower
agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further
agrees to be bound by the regulations and interpretations of the issuer of any Letters of Credit guaranteed by Bank and opened for Borrower’s
account or by Bank’s interpretations of any Letter of Credit issued by Bank for Borrower’s account, and Borrower understands
and agrees that Bank shall not be liable for any error, negligence, or mistake, whether of omission or commission, in following Borrower’s
instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto.

 

    

     

    

 

(c) The
obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and irrevocable,
and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application.

 

(d) Borrower
may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a demand for payment is made under any such Letter of
Credit, Bank shall treat such demand as an Advance to Borrower of the Dollar Equivalent of the amount thereof (plus fees and charges in
connection therewith such as wire, cable, SWIFT or similar charges).

 

(e) To guard
against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit payable in a Foreign Currency, Bank shall create
a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to a percentage (which percentage
shall be determined by Bank in its sole discretion) of the face amount of such Letter of Credit. The amount of the Letter of Credit Reserve
may be adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving
Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains outstanding.

 

2.4 Foreign
Exchange Sublimit.  As part of the Revolving Line, Borrower may enter into foreign exchange contracts with Bank under which Borrower
commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Contract”) on a specified
date (the “Settlement Date”). FX Contracts shall have a Settlement Date of at least one (1) FX Business Day after the
contract date. The aggregate FX Reduction Amount at any one time may not exceed the lesser of (i) (A) Two Million Dollars ($2,000,000.00),
minus (B) the sum of all amounts used for Cash Management Services, and minus (C) the aggregate Dollar Equivalent of the face amount of
any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) and (ii) (A) the
Revolving Line, minus (B) the sum of all outstanding principal amounts of any Advances (including any amounts used for Cash Management
Services), and minus (C) the aggregate Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but
unreimbursed Letters of Credit and any Letter of Credit Reserve). The amount otherwise available for Credit Extensions under the Revolving
Line shall be reduced by the FX Reduction Amount. Any amounts needed to fully reimburse Bank for any amounts not paid by Borrower in connection
with FX Contracts will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

 

2.5 Cash
Management Services Sublimit. Borrower may use the Revolving Line in an aggregate amount not to exceed the lesser of (i) (A) Two Million
Dollars ($2,000,000.00), minus (B) the aggregate Dollar Equivalent of the face amount of any outstanding Letters of Credit (including
drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (C) the FX Reduction Amount and (ii) (A) the Revolving
Line, minus (B) the sum of all outstanding principal amounts of any Advances, minus (C) the aggregate Dollar Equivalent of the face amount
of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus
(D) the FX Reduction Amount for Bank’s cash management services, which may include merchant services, direct deposit of payroll,
business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively,
the “Cash Management Services”). Any amounts Bank pays on behalf of Borrower for any Cash Management Services will
be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

 

    2

     

    

 

2.6 Term
Loan Advance.

 

(a) Availability.
Subject to the terms and conditions of this Agreement, upon the Effective Date, Borrower shall request and Bank shall, on or about the
Effective Date, make one (1) Term Loan advance available to Borrower in an original principal amount of Five Million Dollars ($5,000,000.00)
(the “Term Loan Advance”) and, if Borrower does not make such request, Bank shall be permitted to make the Term Loan
Advance to Borrower in the amount of Five Million Dollars ($5,000,000.00), provided, further that Borrower shall use the proceeds of the
Term Loan Advance to pay in full all principal, interest and other obligations of Borrower owed to Pacific Western Bank. After repayment,
the Term Loan Advance (or any portion thereof) may not be reborrowed.

 

(b) Interest
Period. With respect to the Term Loan Advance, commencing on the Payment Date of the month following the month in which the Funding
Date of the Term Loan Advance occurs, and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments
of interest, in arrears, on the principal amount of the Term Loan Advance, at the rate set forth in Section 2.8(a)(ii).

 

(c) Repayment.
Commencing on June 1, 2021 and continuing on the Payment Date of each month thereafter, Borrower shall repay the Term Loan Advance in
(i) thirty-six (36) equal monthly installments of principal, plus (ii) monthly payments of accrued interest at the rate set forth in Section
2.8(a)(ii). All outstanding principal and accrued and unpaid interest under the Term Loan Advance, and all other outstanding Obligations
with respect to the Term Loan Advance, are due and payable in full on the Term Loan Maturity Date.

 

(d) Permitted
Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advance, provided Borrower (i) delivers
written notice to Bank of its election to prepay the Term Loan Advance at least ten (10) days prior to such prepayment, and (ii) pays,
on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advance, (B)
the Final Payment, and (C) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advance, including
interest at the Default Rate with respect to any past due amounts.

 

(e) Mandatory
Prepayment Upon an Acceleration. If the Term Loan Advance is accelerated by Bank following the occurrence and during the continuance
of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal plus accrued
and unpaid interest with respect to the Term Loan Advance, (ii) the Final Payment, and (iii) all other sums, if any, that shall have become
due and payable with respect to the Term Loan Advance, including interest at the Default Rate with respect to any past due amounts.

 

2.7 Overadvances.
If, at any time, the sum of (a) the outstanding principal amount of any Advances (including any amounts used for Cash Management Services),
plus (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit
Reserve), plus (c) the FX Reduction Amount exceeds the Revolving Line, Borrower shall immediately pay to Bank in cash the amount of such
excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any Overadvance,
Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the rate that
is otherwise applicable to Advances plus five percent (5.0%).

 

2.8 Payment
of Interest on the Credit Extensions.

 

(a) Interest
Rate.

 

(i) Advances.
Subject to Section 2.8(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate
equal to the greater of (A) two and one-quarter of one percent (2.25%) above the Prime Rate and (B) six and one-half of one percent (6.50%),
which interest shall be payable monthly in accordance with Section 2.8(e) below.

 

(ii) Term
Loan Advance. Subject to Section 2.8(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating
per annum rate equal to the greater of (A) three and one-quarter of one percent (3.25%) above the Prime Rate and (B) seven and one-half
of one percent (7.50%), which interest shall be payable monthly in accordance with Section 2.8(e) below.

 

    3

     

    

 

(b) Default
Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate
per annum which is five percent (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”). Fees
and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Bank Expenses) but
are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance
of the increased interest rate provided in this Section 2.8(b) is not a permitted alternative to timely payment and shall not constitute
a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank.

 

(c) Adjustment
to Interest Rate. Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the
effective date of any change to the Prime Rate and to the extent of any such change.

 

(d) Minimum
Interest. In the event the aggregate amount of interest earned by Bank in connection with the Revolving Line in any month (such period,
the “Minimum Interest Period,” which period shall begin on the Effective Date and continue with each month thereafter
until the earlier of the Revolving Line Maturity Date or the date this Agreement is terminated) is less than Fifty Thousand Dollars ($50,000.00)
(inclusive of any collateral monitoring fees and float charges, and exclusive of any other fees and charges hereunder) (“Minimum
Interest”), Borrower shall pay to Bank, upon demand by Bank, an amount equal to the (i) Minimum Interest minus (ii) the aggregate
amount of all interest earned by Bank (inclusive of any collateral monitoring fees and float charges, and exclusive of any other fees
and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum
Interest Period upon termination of this Agreement. Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum
Interest pursuant to this Section 2.8(d) notwithstanding any termination of this Agreement or the suspension or termination of Bank’s
obligation to make loans and advances hereunder. Bank may deduct amounts owing by Borrower under this Section 2.8(d) pursuant to the terms
of Section 2.10(c). Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the
terms of this Section 2.10(c).

 

(e) Payment;
Interest Computation. Interest is payable monthly on the Payment Date of each month and shall be computed on the basis of a 360-day
year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern time on any day
shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension
shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day
on which it is made, such day shall be included in computing interest on such Credit Extension.

 

2.9 Fees
and Expenses. Borrower shall pay to Bank:

 

(a) Revolving
Line Commitment Fee. A fully earned, non-refundable commitment fee of Fifty Thousand Dollars ($50,000.00), on the Effective Date;

 

(b) Termination
Fee. Upon termination of this Agreement or the termination of the Revolving Line for any reason prior to the Revolving Line Maturity
Date, in addition to the payment of any other amounts then-owing, a termination fee in an amount equal to one and one-half of one percent
(1.50%) of the Revolving Line (the “Termination Fee”), provided that no termination fee shall be charged if the credit
facility hereunder is replaced with a new facility from Bank;

 

(c) Final
Payment. The Final Payment when due hereunder;

 

(d) Letter
of Credit Fee. Bank’s customary fees and expenses for the issuance or renewal of Letters of Credit, upon the issuance of such
Letter of Credit, each anniversary of the issuance during the term of such Letter of Credit, and upon the renewal of such Letter of Credit
by Bank;

 

(e) Unused
Revolving Line Facility Fee. Payable quarterly in arrears on the last day of each calendar quarter occurring prior to the Revolving
Line Maturity Date, and on the Revolving Line Maturity Date, a fee (the “Unused Revolving Line Facility Fee”) in an
amount equal to one-half of one percent (0.50%) per annum of the average unused portion of the Revolving Line, as determined by Bank,
computed on the basis of a year with the applicable number of days as set forth in Section 2.8(e). The unused portion of the Revolving
Line, for purposes of this calculation, shall be calculated on a calendar year basis and shall equal the difference between (i) the Revolving
Line, and (ii) the average for the period of the daily closing balance of the Revolving Line outstanding plus the sum of the aggregate
amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve); and

 

    4

     

    

 

(f) Bank
Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses for documentation and negotiation of this Agreement)
incurred through and after the Effective Date, when due (or, if no stated due date, upon demand by Bank).

 

Unless otherwise provided in this Agreement or
in a separate writing by Bank, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned by Bank pursuant
to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Bank’s obligation to make
loans and advances hereunder. Bank may deduct amounts owing by Borrower under the clauses of this Section 2.9 pursuant to the terms of
Section 2.10(c). Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms
of the clauses of this Section 2.9.

 

2.10 Payments;
Application of Payments; Debit of Accounts. 

 

(a) All
payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or counterclaim,
before 12:00 p.m. Eastern time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Eastern time are
considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the
payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.

 

(b) Bank
has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied. Borrower
shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower
to Bank or otherwise received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this
Agreement.

 

(c) Bank
may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any
other amounts Borrower owes Bank when due, provided that, when no Event of Default exists and only to the extent that the Designated Deposit
Account has sufficient funds, Bank shall first debit the Designated Deposit Account before debiting any other deposit account of Borrower.
These debits shall not constitute a set-off.

 

2.11 Withholding.
Payments received by Bank from Borrower under this Agreement will be made free and clear of and without deduction for any and all
present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental
Authority (including any interest, additions to tax or penalties applicable thereto). Specifically, however, if at any time any Governmental
Authority, applicable law, regulation or international agreement requires Borrower to make any withholding or deduction from any such
payment or other sum payable hereunder to Bank, Borrower hereby covenants and agrees that the amount due from Borrower with respect to
such payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required
withholding or deduction, Bank receives a net sum equal to the sum which it would have received had no withholding or deduction been required,
and Borrower shall pay the full amount withheld or deducted to the relevant Governmental Authority. Borrower will, upon request, furnish
Bank with proof reasonably satisfactory to Bank indicating that Borrower has made such withholding payment; provided, however, that Borrower
need not make any withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate
and timely proceedings and as to which payment in full is bonded or reserved against by Borrower. The agreements and obligations of Borrower
contained in this Section 2.11 shall survive the termination of this Agreement.

 

    5

     

    

 

3 CONDITIONS
OF LOANS

 

3.1 Conditions
Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the condition precedent
that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank
may reasonably deem necessary or appropriate, including, without limitation:

 

(a) duly
executed signatures to the Loan Documents;

 

(b) duly
executed signature to the Warrant, together with a capitalization table;

 

(c) the
Operating Documents and (i) long-form good standing certificate of each of Parent Borrower and ML Plus certified by the Secretary of State
of Delaware and (ii) certificates of good standing/foreign qualification certified by the Secretary of State of (A) New York and (B) California,
each as of a date no earlier than thirty (30) days prior to the Effective Date;

 

(d) a secretary’s
corporate borrowing certificate of Parent Borrower with respect to Parent Borrower’s Operating Documents, incumbency, specimen signatures
and resolutions authorizing the execution and delivery of this Agreement and the other Loan Documents to which it is a party;

 

(e) a limited
liability company certificate of each of ML Plus with respect to such ML Plus’ Operating Documents, incumbency, specimen signatures
and resolutions authorizing the execution and delivery of this Agreement and the other Loan Documents to which it is a party;

 

(f) duly
executed signatures to the completed Borrowing Resolutions for each Borrower;

 

(g) certified
copies, dated as of a recent date, of Lien searches (including, without limitation, UCC searches), as Bank may request, accompanied by
written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute
Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released;

 

(h) the
Perfection Certificates of each Borrower, together with the duly executed signatures thereto;

 

(i) Intellectual
Property search results and completed exhibits to the IP Agreement;

 

(j) a legal
opinion (authority and enforceability) of Borrower’s counsel dated as of the Effective Date together with the duly executed original
signature thereto;

 

(k) duly
executed original signature to a payoff letter from Pacific Western Bank;

 

(l) evidence
that (i) the Liens securing Indebtedness owed by Borrower to Pacific Western Bank will be terminated and (ii) the documents and/or filings
evidencing the perfection of such Liens, including without limitation any financing statements and/or control agreements, have or will,
concurrently with the initial Credit Extension, be terminated;

 

(m) a subordination
agreement by MLI Subdebt Facility 1 LLC, in favor of Bank, together with the duly executed original signatures thereto and copies of the
underlying documents evidencing Borrower’s Indebtedness with such Person;

 

(n) evidence
satisfactory to Bank that the insurance policies and endorsements required by Section 6.6 hereof are in full force and effect, together
with appropriate evidence showing lender loss payable and/or additional insured clauses and endorsements in favor of Bank; and

 

(o) payment
of the fees and Bank Expenses then due as specified in Section 2.9 hereof.

 

    6

     

    

 

3.2 Conditions
Precedent to all Credit Extensions. Bank’s obligations to make each Credit Extension, including the initial Credit Extension,
is subject to the following conditions precedent:

 

(a) timely
receipt of (i) with respect to requests for Advances, the Credit Extension request and any materials and documents required by Section
3.4 (other than requests with respect to Sections 2.3, 2.4 and 2.5) and (ii) with respect to the request for the Term Loan Advance, an
executed Payment/Advance Form and any materials and documents required by Section 3.4;

 

(b) the
representations and warranties in this Agreement shall be true, accurate, and complete in all material respects on the date of the proposed
Credit Extension and/or of the Payment/Advance Form, as applicable, and on the Funding Date of each Credit Extension; provided, however,
that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date
shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall have occurred and be continuing
or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations
and warranties in this Agreement remain true, accurate, and complete in all material respects; provided, however, that such materiality
qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text
thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate
and complete in all material respects as of such date; and

 

(c) Bank
determines to its reasonable satisfaction that there has not been any material impairment in the general affairs, management, results
of operation, financial condition or the prospect of repayment of the Obligations, nor any material adverse deviation by Borrower from
the most recent business plan of Borrower presented to and accepted by Bank.

 

3.3 Covenant
to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a condition precedent
to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not
constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the making of any Credit Extension in the absence
of a required item shall be in Bank’s sole discretion.

 

3.4 Procedures
for Borrowing. 

 

(a) Advances.
Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this Agreement, to obtain
an Advance, Borrower (via an individual duly authorized by an Administrator) shall notify Bank (which notice shall be irrevocable) by
electronic mail by 12:00 p.m. Eastern time on the Funding Date of the Advance. Such notice shall be made by Borrower through Bank’s
online banking program, provided, however, if Borrower is not utilizing Bank’s online banking program, then such notice shall be
in a written format acceptable to Bank that is executed by an Authorized Signer. Bank shall have received satisfactory evidence that the
Board has approved that such Authorized Signer may provide such notices and request Advances. In connection with any such notification,
Borrower must promptly deliver to Bank by electronic mail or through Bank’s online banking program such reports and information,
including without limitation, sales journals, cash receipts journals, accounts receivable aging reports, as Bank may request in its sole
discretion. Bank shall credit proceeds of an Advance to the Designated Deposit Account. Bank may make Advances under this Agreement based
on instructions from an Authorized Signer or without instructions if the Advances are necessary to meet Obligations which have become
due.

 

(b) Term
Loan Advance. Subject to the prior satisfaction of all other applicable conditions to the making of the Term Loan Advance set forth
in this Agreement, to obtain the Term Loan Advance, Borrower (via an individual duly authorized by an Administrator) shall notify Bank
(which notice shall be irrevocable) by electronic mail by 12:00 p.m. Eastern time on the Funding Date of the Term Loan Advance. Such notice
shall be made by Borrower through Bank’s online banking program, provided, however, if Borrower is not utilizing Bank’s online
banking program, then such notice shall be in a written format acceptable to Bank that is executed by an Authorized Signer. Bank shall
have received satisfactory evidence that the Board has approved that such Authorized Signer may provide such notices and request the Term
Loan Advance. In connection with such notification, Borrower must promptly deliver to Bank by electronic mail or through Bank’s
online banking program a completed Payment/Advance Form executed by an Authorized Signer together with such other reports and information,
as Bank may request in its sole discretion. Bank shall credit proceeds of the Term Loan Advance to the Designated Deposit Account. Bank
may make the Term Loan Advance under this Agreement based on instructions from an Authorized Signer or without instructions if the Term
Loan Advance is necessary to meet Obligations which have become due.

 

    7

     

    

 

4 CREATION
OF SECURITY INTEREST

 

4.1 Grant
of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing
security interest in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all
proceeds and products thereof.

 

Borrower acknowledges that
it previously has entered, and/or may in the future enter, into Bank Services Agreements with Bank. Regardless of the terms of any Bank
Services Agreement, Borrower agrees that any amounts Borrower owes Bank thereunder shall be deemed to be Obligations hereunder and that
it is the intent of Borrower and Bank to have all such Obligations secured by the first priority perfected security interest in the Collateral
granted herein (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to
Bank’s Lien in this Agreement).

 

If this Agreement is terminated,
Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are repaid in full
in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations) and at such time as Bank’s
obligation to make Credit Extensions has terminated, Bank shall, at the sole cost and expense of Borrower, release its Liens in the Collateral
and all rights therein shall revert to Borrower. In the event (x) all Obligations (other than inchoate indemnity obligations), except
for Bank Services, are satisfied in full, and (y) this Agreement is terminated, Bank shall terminate the security interest granted herein
upon Borrower providing cash collateral acceptable to Bank in its good faith business judgment for Bank Services, if any. In the event
such Bank Services consist of outstanding Letters of Credit, Borrower shall provide to Bank cash collateral in an amount equal to (x)
if such Letters of Credit are denominated in Dollars, then at least one hundred five percent (105.0%); and (y) if such Letters of Credit
are denominated in a Foreign Currency, then at least one hundred ten percent (110.0%), of the Dollar Equivalent of the face amount of
all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its
business judgment), to secure all of the Obligations relating to such Letters of Credit.

 

4.2 Priority
of Security Interest. Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times
continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that are permitted pursuant
to the terms of this Agreement to have superior priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial
tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such
writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form
and substance reasonably satisfactory to Bank.

 

4.3 Authorization
to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate
jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a notice that any disposition of the Collateral,
by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. Such financing statements may indicate
the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or lesser scope, or with
greater detail, all in Bank’s discretion.

 

5 REPRESENTATIONS
AND WARRANTIES

 

Borrower represents and warrants
as follows:

 

5.1 Due
Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered Organization in its
jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct
of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected
to have a material adverse effect on Borrower’s business. In connection with this Agreement, each Borrower has delivered to Bank
a completed certificate of each Borrower signed by such Borrower, entitled “Perfection Certificate” (collectively, the “Perfection
Certificate”). Borrower represents and warrants to Bank that (a) Borrower’s exact legal name is that indicated on the
Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction
set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification
number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business,
or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office);
(e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational
structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection
Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower
may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted by one
or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall
promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number.

 

    8

     

    

 

The execution, delivery
and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not (i) conflict with any of
Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement
of Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any
Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv)
require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except
such Governmental Approvals which have already been obtained and are in full force and effect), or (v) conflict with, contravene, constitute
a default or breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound.
Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be
expected to have a material adverse effect on Borrower’s business.

 

5.2 Collateral.
Borrower has good title to, rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder,
free and clear of any and all Liens except Permitted Liens. Except to the extent permitted by Section 6.7, Borrower has no Collateral
Accounts at or with any bank or financial institution other than Bank or Bank’s Affiliates except for the Collateral Accounts described
in the Perfection Certificate delivered to Bank in connection herewith and which Borrower has taken such actions as are necessary to give
Bank a perfected security interest therein, pursuant to the terms of Section 6.7(c). The Accounts are bona fide, existing obligations
of the Account Debtors.

 

The Collateral is not in the
possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate. None of the components
of the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as permitted pursuant to Section
7.2.

 

All Inventory is in all material
respects of good and marketable quality, free from material defects.

 

Borrower is the sole owner
of the Intellectual Property which it owns or purports to own except for (a) non-exclusive licenses granted to its customers in the ordinary
course of business, (b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property
licensed to Borrower and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is material to Borrower’s
business is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which is material
to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge,
no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the extent such claim
would not reasonably be expected to have a material adverse effect on Borrower’s business.

 

Except as noted on the Perfection
Certificate, Borrower is not a party to, nor is it bound by, any Restricted License.

 

    9

     

    

 

5.3 Litigation.
 There are no actions or proceedings pending or, to the knowledge of any Responsible Officer, threatened in writing by or against
Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000.00).

 

5.4 Financial
Statements; Financial Condition.  All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank
by submission to the Financial Statement Repository or otherwise submitted to Bank fairly present in all material respects Borrower’s
consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration
in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to the Financial
Statement Repository or otherwise submitted to Bank.

 

5.5 Solvency.
The fair salable value of Borrower’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of
Borrower’s liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower
is able to pay its debts (including trade debts) as they mature.

 

5.6 Regulatory
Compliance. Borrower is not an “investment company” or a company “controlled” by an “investment company”
under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for
margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower (a) has complied in all material respects
with all Requirements of Law, and (b) has not violated any Requirements of Law, in each case where the failure to comply or the violation
of which could reasonably be expected to have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’
properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in
disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries
have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all Governmental
Authorities that are necessary to continue their respective businesses as currently conducted, except where the failure to do so would
not be reasonably expected to cause a material adverse effect on Borrower’s business.

 

5.7 Subsidiaries;
Investments. Borrower does not own any stock, partnership, or other ownership interest or other equity securities except for Permitted
Investments.

 

5.8 Tax
Returns and Payments; Pension Contributions. Borrower has timely filed all required tax returns and reports (or requested timely extensions
therefor), and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower
except (a) to the extent such taxes are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted,
so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor,
or (b) if such taxes, assessments, deposits and contributions do not, individually or in the aggregate, exceed Two Hundred Fifty Thousand
Dollars ($250,000.00).

 

To the extent Borrower
defers payment of any contested taxes, Borrower shall (i) notify Bank in writing of the commencement of, and any material development
in, the proceedings, and (ii) post bonds or take any other steps required to prevent the Governmental Authority levying such contested
taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Borrower is unaware of any claims
or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by
Borrower, individually or in the aggregate, in excess of Two Hundred Fifty Thousand Dollars ($250,000.00). Borrower has paid all amounts
necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has
not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other
event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any liability
to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency.

 

5.9 Use
of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working capital and to fund its general business requirements
and not for personal, family, household or agricultural purposes.

 

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5.10 Full
Disclosure.  No written representation, warranty or other statement of Borrower in any report, certificate, or written statement submitted
to the Financial Statement Repository or otherwise submitted to Bank, as of the date such representation, warranty, or other statement
was made, taken together with all such written reports, written certificates and written statements submitted to the Financial Statement
Repository or otherwise submitted to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary
to make the statements contained in the reports, certificates, or written statements not misleading (it being recognized by Bank that
the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that
actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results).

 

5.11 Definition
of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to Borrower’s
knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness
means the actual knowledge, after reasonable investigation, of any Responsible Officer.

 

6 AFFIRMATIVE
COVENANTS

 

Borrower shall do all of the
following:

 

6.1 Government
Compliance. 

 

(a) Maintain
its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain qualification
in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s
business or operations. Borrower shall comply, and have each Subsidiary comply, in all material respects, with all laws, ordinances and
regulations to which it is subject.

 

(b) Obtain
all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to which it is
a party and the grant of a security interest to Bank in the Collateral. Borrower shall promptly provide copies of any such obtained Governmental
Approvals to Bank.

 

6.2 Financial
Statements, Reports. Provide Bank with the following by submitting to the Financial Statement Repository:

 

(a) within
thirty (30) days after the end of each month (i) monthly accounts receivable agings, aged by invoice date, (ii) monthly accounts payable
agings, aged by invoice date, and outstanding or held check registers, if any, and (iii) monthly reconciliations of accounts receivable
agings (aged by invoice date), transaction reports and general ledger, each in a form acceptable to Bank;

 

(b) as soon
as available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated, and if prepared by
Borrower, consolidating, balance sheet and income statement covering Borrower’s consolidated and, and if prepared by Borrower, Borrower’s
and each of its Subsidiary’s consolidating, operations for such month in a form acceptable to Bank (the “Monthly Financial
Statements”);

 

(c) within
thirty (30) days after the last day of each month and together with the Monthly Financial Statements, a duly completed Compliance Statement,
confirming that as of the end of such month, Borrower was in full compliance with all of the terms and conditions of this Agreement, and
setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Bank
may reasonably request, including, without limitation, a statement that at the end of such month there were no held checks;

 

(d) at least
annually, as soon as available, and in any event no later than the earlier to occur of (i) the first meeting of the Board each year and
(ii) sixty (60) days following the end of each fiscal year of Borrower, and contemporaneously with any updates or amendments thereto,
(A) annual operating budgets (including income statements, balance sheets and cash flow statements, by month), and (B) annual financial
projections (on a quarterly basis), in each case as approved by the Board, together with any related business forecasts used in the preparation
of such annual financial projections;

 

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(e) as soon
as available, and in any event within one hundred eighty (180) days following the end of Borrower’s fiscal year, audited consolidated
financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from
an independent certified public accounting firm reasonably acceptable to Bank;

 

(f) as soon
as available, but no later than thirty (30) days after the last day of each month, a SaaS metrics report (including, without limitation,
details of Borrower’s recurring revenue, customer churn, revenue churn, LTV, CAC, and other relevant KPI metrics), in a form acceptable
to Bank;

 

(g) as soon
as available, but no later than thirty (30) days after the last day of each month, a company prepared report of Borrower’s loan
portfolio metrics (including, without limitation, underlying asset data, underlying loan tapes, details of delinquencies, past-due accounts
and charge-offs) for such month in a form acceptable to Bank;

 

(h) in the
event that Borrower becomes subject to the reporting requirements under the Exchange Act, within five (5) days of filing, copies of all
periodic and other reports, proxy statements and other materials filed by Borrower with the SEC, any Governmental Authority succeeding
to any or all of the functions of the SEC or with any national securities exchange, or distributed to its shareholders, as the case may
be. Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise
filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower
posts such documents, or provides a link thereto, on Borrower’s website on the internet at Borrower’s website address; provided,
however, Borrower shall promptly notify Bank in writing (which may be by electronic mail) of the posting of any such documents;

 

(i) within
five (5) days of delivery, copies of all statements, reports and notices made available to Borrower’s security holders or to any
holders of Subordinated Debt;

 

(j) prompt
written notice of any changes to the beneficial ownership information set out in Section 14 of the Perfection Certificate. Borrower understands
and acknowledges that Bank relies on such true, accurate and up-to-date beneficial ownership information to meet Bank’s regulatory
obligations to obtain, verify and record information about the beneficial owners of its legal entity customers;

 

(k) prompt
report of any legal actions pending or threatened in writing against Borrower or any of its Subsidiaries that could reasonably be expected
to result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Two Hundred Fifty Thousand
Dollars ($250,000.00) or more;

 

(l) within
thirty (30) days after the last day of each month, provide a report of Borrower’s and its Subsidiaries cash balances and working
capital balances, together with such other information related thereto as Bank may reasonably request, in a form acceptable to Bank;

 

(m) prompt
written notice of the occurrence of any event of default (however defined) beyond any applicable cure period under any Account purchase,
loan financing, warehouse, or other similar agreement, by Borrower or any Subsidiary or Affiliate of Borrower; and

 

(n) promptly,
from time to time, such other information regarding Borrower or compliance with the terms of any Loan Documents as reasonably requested
by Bank.

 

Any submission by Borrower of a Compliance Statement
or any other financial statement submitted to the Financial Statement Repository pursuant to this Section 6.2 or otherwise submitted to
Bank shall be deemed to be a representation by Borrower that (a) as of the date of such Compliance Statement or other financial statement,
the information and calculations set forth therein are true, accurate and correct, (b) as of the end of the compliance period set forth
in such submission, Borrower is in complete compliance with all required covenants except as noted in such Compliance Statement or other
financial statement, as applicable; (c) as of the date of such submission, no Events of Default have occurred or are continuing; (d) all
representations and warranties other than any representations or warranties that are made as of a specific date in Section 5 remain true
and correct in all material respects as of the date of such submission except as noted in such Compliance Statement or other financial
statement, as applicable; (e) as of the date of such submission, Borrower and each of its Subsidiaries have timely filed all required
tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions
owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.8; and (f) as of the date of such submission, no Liens
have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower
has not previously provided written notification to Bank.

 

    12

     

    

 

6.3 Intentionally
omitted.

 

6.4 Taxes;
Pensions. Timely file (or obtain extensions therefor), and require each of its Subsidiaries to timely file, all required tax returns
and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments,
deposits and contributions owed by Borrower and each of its Subsidiaries, as applicable, except for deferred payment of any taxes contested
or provided for pursuant to the terms of Section 5.8 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting
to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance
with their terms.

 

6.5 Access
to Collateral; Books and Records.  At reasonable times, on five (5) Business Days’ notice (provided no notice is required if
an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to inspect the Collateral and the right
to audit and copy Borrower’s Books. The foregoing inspections and audits shall be conducted no more often than once every twelve
(12) months unless an Event of Default has occurred and is continuing in which case such inspections and audits shall occur as often as
Bank shall determine is necessary. The foregoing inspections and audits shall be conducted at Borrower’s expense and the charge
therefor shall be One Thousand Dollars ($1,000.00) per person per day (or such higher amount as shall represent Bank’s then-current
standard charge for the same), plus reasonable out-of-pocket expenses. In the event Borrower and Bank schedule an audit more than eight
(8) days in advance, and Borrower cancels or seeks to or reschedules the audit with less than eight (8) days written notice to Bank, then
(without limiting any of Bank’s rights or remedies) Borrower shall pay Bank a fee of Two Thousand Dollars ($2,000.00) plus any out-of-pocket
expenses incurred by Bank to compensate Bank for the anticipated costs and expenses of the cancellation or rescheduling.

 

6.6 Insurance.

 

(a) Keep
its business and the Collateral insured pursuant to policies for commercial general liability and property policies for risks and in amounts
standard for companies in Borrower’s industry and location and as Bank may reasonably request. Insurance policies shall be in a
form, with financially sound and reputable insurance companies that are not Affiliates of Borrower, and in amounts that are reasonably
satisfactory to Bank. All property policies shall have a lender’s loss payable endorsement showing Bank as a lender loss payee.
All commercial general liability policies shall show, or have endorsements showing, Bank as an additional insured. Bank shall be named
as lender loss payee and/or additional insured with respect to any such insurance providing coverage in respect of any Collateral.

 

(b) Ensure
that proceeds payable under any property policy are, at Bank’s option, payable to Bank on account of the Obligations.

 

(c) At Bank’s
request, Borrower shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider of any such
insurance required under this Section 6.6 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments
furnished to Bank, that it will give Bank thirty (30) days prior written notice before any such policy or policies shall be materially
altered or canceled. If Borrower fails to obtain insurance as required under this Section 6.6 or to pay any amount or furnish any required
proof of payment to third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this
Section 6.6, and take any action under the policies Bank deems prudent.

 

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6.7 Accounts.

 

(a) At
all times after the date that is ninety (90) days after the Effective Date (or such longer period as agreed to by Bank in writing in its
sole discretion), maintain all of Borrower’s and all of its Subsidiaries’ operating accounts, depository accounts and excess
cash with Bank and Bank’s Affiliates, provided, however, (i) Borrower and its Subsidiaries shall be permitted to maintain the Excluded
Accounts and (ii) solely on and prior to the date which is six (6) months after the Effective Date, Borrower may maintain its account
with Wells Fargo Bank, N.A. ending 5657 and shown on the Perfection Certificate, so long as the aggregate amount of funds maintained in
such account does not exceed One Hundred Fifty Thousand Dollars ($150,000.00) at any time. Notwithstanding the foregoing, (x) Borrower
shall transfer an amount equal to ninety (90.0%) of the aggregate amount of funds maintained by Borrower with Pacific Western Bank as
of the Effective Date and shown on the Perfection Certificate (excluding, however, the Excluded Accounts) (the “Existing PWB
Accounts”) to an account of Borrower maintained with Bank within fifteen (15) days after the Effective Date and (y) at no time
after fifteen (15) days after the Effective Date shall the aggregate amount of funds in the Existing PWB Accounts exceed Three Million
Dollars ($3,000,000.00) at any time. In addition to and notwithstanding the foregoing, the Existing PWB Accounts will not be permitted
to be maintained after the date that is ninety (90) days after the Effective Date.

 

(b) In
addition to the foregoing, Borrower and its Subsidiaries (except for Excluded Subsidiaries) shall conduct all of its business credit card
and letter of credit banking with Bank and Bank’s Affiliates.

 

(c) In
addition to and without limiting the restrictions in (a), Borrower shall provide Bank five (5) days prior written notice before establishing
any Collateral Account at or with any bank or financial institution other than Bank or Bank’s Affiliates. For any Collateral Account
that Bank in its sole discretion permits Borrower at any time to open or maintain, Borrower shall cause the applicable bank or financial
institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other
appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with
the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous
sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes, and other employee wage and benefit payments
to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such or (ii) the Excluded Accounts.

 

6.8 Financial
Covenants. 

 

(a) Adjusted
Quick Ratio. Maintain at all times, to be tested as of the last day of each month, an Adjusted Quick Ratio of at least 1.25 to 1.0.

 

(b) Pre-Tax
Income. Have at all times, to be tested as of the last day of each quarter, Pre-Tax Income for such calendar quarter of at least the
following amounts:

 

	Quarter Ending	 	Pre-Tax Income	 
	March 31, 2020	 	($	15,000,000.00	)
	June 30, 2020	 	($	10,000,000.00	)
	September 30, 2020	 	($	5,000,000.00	)
	December 31, 2020	 	$	0.00	 
	March 31, 2021	 	($	7,500,000.00	)

 

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The Pre-Tax Income levels required
for each quarter ending after March 31, 2021, remain to be calculated but shall be set by Bank in its sole discretion and in consultation
with Borrower. With respect thereto:

 

(i)
For the calendar quarters ending June 30, 2021, September 30, 2021 and December 2021, Borrower’s failure to agree in writing (which
agreement shall be set forth in a written amendment to this Agreement) on or before June 1, 2021, to any such covenant levels proposed
by Bank with respect to such calendar quarters shall result in an immediate Event of Default for which there shall be no grace or cure
period.

 

(ii) For
the 2022 calendar year, Borrower’s failure to agree in writing (which agreement shall be set forth in a written amendment to this
Agreement) on or before March 15, 2022, to any such covenant levels proposed by Bank with respect to the 2022 calendar year (which levels
shall not be less than Zero Dollars ($0.00)), shall result in an immediate Event of Default for which there shall be no grace or cure
period.

 

6.9 Protection
and Registration of Intellectual Property Rights. 

 

(a) (i)
Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly advise Bank in writing of material
infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property;
and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public
without Bank’s written consent.

 

(b) If Borrower
(i) obtains any Patent, registered Trademark, registered Copyright, registered mask work, or any pending application for any of the foregoing,
whether as owner, licensee or otherwise, or (ii) applies for any Patent or the registration of any Trademark, then Borrower shall immediately
provide written notice thereof to Bank and shall execute such intellectual property security agreements and other documents and take such
other actions as Bank may request in its good faith business judgment to perfect and maintain a first priority perfected security interest
in favor of Bank in such property. If Borrower decides to register any Copyrights or mask works in the United States Copyright Office,
Borrower shall: (x) provide Bank with at least fifteen (15) days prior written notice of Borrower’s intent to register such Copyrights
or mask works together with a copy of the application it intends to file with the United States Copyright Office (excluding exhibits thereto);
(y) execute an intellectual property security agreement and such other documents and take such other actions as Bank may request in its
good faith business judgment to perfect and maintain a first priority perfected security interest in favor of Bank in the Copyrights or
mask works intended to be registered with the United States Copyright Office; and (z) record such intellectual property security agreement
with the United States Copyright Office contemporaneously with filing the Copyright or mask work application(s) with the United States
Copyright Office. Borrower shall promptly provide to Bank copies of all applications that it files for Patents or for the registration
of Trademarks, Copyrights or mask works, together with evidence of the recording of the intellectual property security agreement required
for Bank to perfect and maintain a first priority perfected security interest in such property.

 

(c) Provide
written notice to Bank within ten (10) days of entering or becoming bound by any Restricted License (other than over-the-counter software
that is commercially available to the public). Borrower shall take such steps as Bank reasonably requests to obtain the consent of, or
waiver by, any person whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for
Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted
License, whether now existing or entered into in the future, and (ii) Bank to have the ability in the event of a liquidation of any Collateral
to dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents.

 

6.10 Litigation
Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to Bank, without expense
to Bank, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Bank may deem them
reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank with respect to any Collateral
or relating to Borrower.

 

6.11 Online
Banking.

 

(a) Utilize
Bank’s online banking platform for all matters requested by Bank which shall include, without limitation (and without request by
Bank for the following matters), uploading information pertaining to Accounts and Account Debtors, requesting approval for exceptions,
requesting Credit Extensions, and uploading financial statements and other reports required to be delivered by this Agreement (including,
without limitation, those described in Section 6.2 of this Agreement).

 

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(b) Comply
with the terms of Bank’s Online Banking Agreement as in effect from time to time and ensure that all persons utilizing Bank’s
online banking platform are duly authorized to do so by an Administrator. Bank shall be entitled to assume the authenticity, accuracy
and completeness on any information, instruction or request for a Credit Extension submitted via Bank’s online banking platform
and to further assume that any submissions or requests made via Bank’s online banking platform have been duly authorized by an Administrator.

 

6.12 Further
Assurances. Execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s
Lien in the Collateral or to effect the purposes of this Agreement. Deliver to Bank, within five (5) days after the same are sent or received,
copies of all correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance
of Governmental Approvals or Requirements of Law in each case where non-compliance would reasonably be expected to have a material adverse
effect on the operations of Borrower or any of its Subsidiaries.

 

6.13 Maintenance
of Company Separateness. Borrower will cause each Subsidiary and each SPV
to satisfy customary formalities for such entity, including, as applicable (a) to the extent required by law, the holding of regular board
of members’, managers’, directors’ and shareholders’ meetings or action by members, managers, directors or shareholders
without a meeting, (b) the maintenance of separate books and records and (c) the maintenance of separate bank accounts in its own name.
Neither Borrower nor any of its Subsidiaries shall make any payment to a creditor of any SPV in respect of any liability of any SPV, unless
expressly permitted hereunder, and no SPV’s bank account shall be commingled with any bank account of Borrower or any of its Subsidiaries.
Any financial statements distributed to any creditors of any SPV shall clearly establish or indicate the corporate separateness of such
SPV from Borrower and its Subsidiaries. Neither Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in
a manner, which is likely to result in the separate legal existence of Borrower or any Subsidiary being ignored, or in the assets and
liabilities of Borrower or any Subsidiary being substantively consolidated with those of any other Person in a bankruptcy, reorganization
or other insolvency proceeding.

 

6.14 Payments
to Holders of Class A Fund interests. Borrower shall cause any amounts then due and payable to holders of Class A Fund Interests from
its direct and indirect Subsidiaries to be remitted promptly by such direct and indirect Subsidiaries to an account of Borrower maintained
with Bank.

 

6.15 Post-Closing
Requirements. Within thirty (30) days of the Effective Date, deliver to Bank each of the following in a form acceptable to Bank: (a)
an endorsement to Borrower’s general liability policy that names Bank as additional insured; and (b) an endorsement to the general
liability policy and property policy stating that the insurer will give Bank at least thirty (30) days prior written notice of any cancellation
or material alteration to such policy.

 

7 NEGATIVE
COVENANTS

 

Borrower shall not do any
of the following without Bank’s prior written consent:

 

7.1 Dispositions.
Convey, sell, lease, transfer, assign, or otherwise dispose of (including, without limitation, pursuant to a Division) (collectively,
“Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for
Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete Equipment that is, in the reasonable judgment
of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) consisting of
Permitted Liens and Permitted Investments; (d) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in
the ordinary course of business; (e) any sublease of real property by Borrower not constituting Indebtedness and not entered into as part
of a sale leaseback transaction; (f) consisting of Borrower’s use or transfer of money or Cash Equivalents in a manner that is not
prohibited by the terms of this Agreement or the other Loan Documents; (g) sales of assets and Accounts by any SPV that are in the ordinary
course of SPV’s business, upon fair and reasonable terms that would otherwise be obtained in an arm’s length transaction;
(h) Permitted SPV Parent Transfers; (i) of property of Borrower in an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00)
in the aggregate during any fiscal year of Borrower; and (j) sales of Accounts, so long as (1) such Accounts are sold to a SPV or State
Subsidiary for an amount equal to at least seventy-five percent (75.0%) of the face amount of such Account, (2) no Event of Default has
occurred, is continuing or could result from the sale of such Account, and (3) the proceeds from the sale of such Accounts are received
in cash by Borrower concurrently with such sale. Each sale of an Account shall be made free and clear of Bank’s Lien, so long as,
and only if, such sale is made in compliance with the requirements of Section 7.1(j) above.

 

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7.2 Changes
in Business, Management, Control, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business
other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate
or dissolve; (c) fail to provide notice to Bank of any Key Person departing from or ceasing to be employed by Borrower within five (5)
Business Days after such Key Person’s departure from Borrower; or (d) permit or suffer any Change in Control.

 

Borrower shall not, without
at least thirty (30) days prior written notice to Bank: (1) add any new offices or business locations, including warehouses (unless such
new offices or business locations contain less than One Hundred Thousand Dollars ($100,000.00) in Borrower’s assets or property)
or deliver any portion of the Collateral valued, individually or in the aggregate, in excess of One Hundred Thousand Dollars ($100,000.00)
to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate, (2) change its jurisdiction
of organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if
any) assigned by its jurisdiction of organization. If Borrower intends to add any new offices or business locations, including warehouses,
containing in excess of One Hundred Thousand Dollars ($100,000.00) of Borrower’s assets or property, then Borrower will first receive
the written consent of Bank, and the landlord of any such new offices or business locations, including warehouses, shall execute and deliver
a landlord consent in form and substance satisfactory to Bank. If Borrower intends to deliver any portion of the Collateral valued, individually
or in the aggregate, in excess of One Hundred Thousand Dollars ($100,000.00) to a bailee, and Bank and such bailee are not already parties
to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower
will first receive the written consent of Bank, and such bailee shall execute and deliver a bailee agreement in form and substance satisfactory
to Bank.

 

7.3 Mergers
or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire,
or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person (including,
without limitation, by the formation of any Subsidiary or pursuant to a Division). A Subsidiary (which is not a Borrower) may merge or
consolidate into another Subsidiary or into Borrower.

 

7.4 Indebtedness.
Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

 

7.5 Encumbrance.
Create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of
any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first
priority security interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor
of Bank) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning,
mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s Intellectual
Property, except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Liens” herein.

 

7.6 Maintenance
of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.7(c) hereof.

 

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7.7 Distributions;
Investments. (a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock or membership
interest, provided that Borrower may (i) convert any of its convertible securities into other securities pursuant to the terms of such
convertible securities or otherwise in exchange thereof, (ii) pay dividends solely in common stock, (iii) repurchase the stock of former
or current employees, directors or consultants (their spouses, trusts, heirs and estates) pursuant to stock repurchase agreements, vesting
agreements, restricted stock agreements, option agreements or similar agreements, so long as an Event of Default does not exist at the
time of any such repurchase and would not exist after giving effect to any such repurchase, provided that the aggregate amount of all
such repurchases does not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) per fiscal year, (iv) make payments in lieu of fractional
shares in aggregate amount for all such payments not to exceed Ten Thousand Dollars ($10,000.00) per fiscal year; and (v) make distributions
to each of its members in an amount necessary to cover each such member’s actual tax liability that is due and payable in the ordinary
course of business as a result of income of Borrower attributed to such member, so long as an Event of Default does not exist at the time
of any such distribution and would not exist after giving effect to any such distribution; or (b) directly or indirectly make any Investment
(including, without limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries
to do so.

 

7.8 Transactions
with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower, except
for (a) transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable
to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person, (b) transactions of the type described
in and permitted by Sections 7.1, 7.3 and 7.7 hereof, (c) bona fide sales of Borrower’s equity securities to and unsecured debt
financings with Borrower’s existing investors, so long as all such Indebtedness is Subordinated Debt and any such sale or issuance
does not result in a Change in Control and (d) that certain Indebtedness of Borrower in favor of MLI Subdebt Facility 1 LLC pursuant to
the MLI Subordinated Loan Documents as in effect as of the Effective Date, provided, however that the MLI Subordinated Loan Documents
may be amended, modified, supplemented or restated from time to time to the extent permitted by the terms of the MLI Subordination Agreement.

 

7.9 Subordinated
Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other
similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated
Debt which would increase the amount thereof, provide for earlier or greater principal, interest, or other payments thereon, or adversely
affect the subordination thereof to Obligations owed to Bank; provided, however, that any amendments, modifications, supplements or restatements
of the terms or provisions of the MLI Subordinated Loan Documents to provide the lenders under those documents with a right of Conversion
(as that term is defined in the MLI Subordination Agreement) at any time, will not be deemed an earlier payment on such Subordinated Debt
hereunder, provided, however that the MLI Subordinated Loan Documents may be amended, modified, supplemented or restated from time to
time to the extent permitted by the terms of the MLI Subordination Agreement.

 

7.10 Compliance.
Become an “investment company” or a company controlled by an “investment company”, under the Investment Company
Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined
in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose;
fail to (a) meet the minimum funding requirements of ERISA, (b) permit a Reportable Event or Prohibited Transaction, as defined in ERISA,
to occur, or (c) fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation or
failure of any of the conditions described in clauses (a), (b) and (c) could reasonably be expected to have a material adverse effect
on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation
in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit
sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability
to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency.

 

7.11 Repurchases
of Accounts. Repurchase any Accounts from any SPV.

 

7.12 State
Subsidiary Asset Limitation. Permit any State Subsidiary, to individually, own, hold, or acquire, at any time, cash, property and/or
other assets with an aggregate value (for all such cash, property and other assets) in excess of Two Hundred Thousand Dollars ($200,000.00).

 

7.13 SPV
Asset Limitation. If, at any time Borrower fails to maintain the Liquidity Threshold, Borrower permits SPVs (other than IIA) to own,
hold, or acquire, at any time, cash, property and/or other assets (measured on an aggregate basis for all SPVs together) with an aggregate
value (for all such cash, property and other assets) in excess of One Million Dollars ($1,000,000.00).

 

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7.14 Certain
Subsidiary Asset Limitation. If Borrower permits (a) ML Wealth LLC, MoneyLion Securities LLC, ML Intermediate Holdco, LLC, QuantiLion
Data Strategies LLC, LionPay LLC, MoneyLion Funding LLC, MoneyLion of Malaysia SDN, Bettercash Inc., Wealth Technologies, Inc., Aqqru
LLC (and, including at all times after December 31, 2020, FitMoney Inc., but excluding FitMoney Inc. prior to such date), to own, hold,
or acquire, at any time, cash, property and/or other assets (measured on an aggregate basis for all such Subsidiaries together) with an
aggregate value (for all such cash, property and other assets) in excess of Three Million Five Hundred Thousand Dollars ($3,500,000.00)
or (b) at any time on or prior to December 31, 2020, FitMoney Inc. to own, hold, or acquire, at any time, cash, property and/or other
assets with an aggregate value (for all such cash, property and other assets) in excess of One Million Eight Hundred Thousand Dollars
($1,800,000.00).

 

7.15 IIA
Excess Funds. If Borrower permits IIA to have or maintain at any time, Excess Funds.

 

For the purposes of this Section 7, the phrase
“Borrower Permits” shall be deemed to include circumstances where the prohibited conditions exist, regardless of whether Borrower
caused, directed or was otherwise aware that such circumstances to exist.

 

8 EVENTS
OF DEFAULT

 

Any one of the following shall
constitute an event of default (an “Event of Default”) under this Agreement:

 

8.1 Payment
Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension when due, or (b) pay any other Obligations
within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to
payments due on the Revolving Line Maturity Date or the Term Loan Maturity Date). During the cure period, the failure to make or pay any
payment specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);

 

8.2 Covenant
Default.

 

(a) Borrower fails or neglects to perform any obligation
in Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9(c), 6.10, 6.11, 6.13, 6.14, or 6.15 or violates any covenant in Section 7; or

 

(b) Borrower fails or neglects
to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents,
and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement
that can be cured, has failed to cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default
cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10)
day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall
not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to cure the
default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided
under this section shall not apply, among other things, to financial covenants or any other covenants set forth in Section 8.2(a) above;

 

8.3 Material
Adverse Change. A Material Adverse Change occurs;

 

8.4 Attachment;
Levy; Restraint on Business. 

 

(a) (i)
The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control of Borrower
(including a Subsidiary), or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any Governmental Authority,
and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether
through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period;
or

 

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(b)  (i)
any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or
(ii) any court order enjoins, restrains, or prevents Borrower from conducting all or any material part of its business;

 

8.5 Insolvency.
(a) Borrower or any of its Subsidiaries is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent;
(b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or
any of its Subsidiaries and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while any of the
conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

 

8.6 Other
Agreements. There is, under any agreement to which Borrower is a party with a third party or parties, (a) any default resulting in
a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually
or in the aggregate in excess of Two Hundred Fifty Thousand Dollars ($250,000.00); or (b) any breach or default by Borrower, the result
of which could reasonably be expected to have a material adverse effect on Borrower’s business;

 

8.7 Judgments;
Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount, individually
or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000.00) (not covered by independent third-party insurance as
to which liability has been accepted by such insurance carrier) shall be rendered against Borrower by any Governmental Authority, and
the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied, or paid, or after execution
thereof, stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that
no Credit Extensions will be made prior to the satisfaction, payment, discharge, stay, or bonding of such fine, penalty, judgment, order
or decree);

 

8.8 Misrepresentations.
Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this Agreement, any
Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation,
warranty, or other statement is incorrect in any material respect when made;

 

8.9 Subordinated
Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked or invalidated or otherwise
cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof
or deny that it has any further liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not
have the priority contemplated by this Agreement or any applicable subordination or intercreditor agreement;

 

8.10 Intentionally
omitted;

 

8.11 Lien
Priority. There is a material impairment in the perfection or priority of Bank’s security interest in the Collateral;

 

8.12 Governmental
Approvals. Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse manner or not renewed
in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect
to any applications for renewal of any of such Governmental Approval or that could result in the Governmental Authority taking any of
the actions described in clause (a) above, and such decision or such revocation, rescission, suspension, modification or non-renewal (i)
causes, or could reasonably be expected to cause, a Material Adverse Change, or (ii) materially and adversely affects the legal qualifications
of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission,
suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of Borrower or any
of its Subsidiaries to hold any Governmental Approval in any other jurisdiction;

 

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8.13 Regulatory
Event.  The commencement of or an any development in (a) any inquiry, investigation, or regulatory action by any applicable Governmental
Authority against Borrower, any of its Subsidiaries and/or any other Person engaged in the industry in which Borrower conducts its business
or (b) any legal action or proceeding to which Borrower, any of its Subsidiaries and/or any other Person engaged in the industry in which
Borrower conducts its business is a party that, in the case of either (a) or (b), Bank in its good faith business judgment determines
could impact Borrower’s or any of its Subsidiaries’ ability to continue its business as then currently conducted or could
have a negative impact on the industry in which Borrower conducts its business as a whole, except where such circumstance would not be
reasonably expected to cause a material adverse effect on Borrower’s business;

 

8.14 Account
Purchase Agreements. With respect to any Account purchase, loan financing, warehouse, or other similar agreement, without limiting
any restriction in this Agreement with respect to entering into any such agreement (including, without limitation, Section 7.4): (a) the
occurrence of any event of default (however defined) under any such agreement by any SPV, Subsidiary or Affiliate of Borrower; (b) the
occurrence of any event of default (however defined) by Borrower pursuant to any such agreement or any guaranty (or other similar agreement)
of such agreement; or (c) any payment is demanded to, or otherwise made by, Borrower, with respect to any such agreement (including, without
limitation, pursuant to any guaranty (or other similar agreement) by Borrower with respect to such agreement); or

 

8.15 SPV
Remittance of Proceeds.  If Borrower fails to cause any SPV, or an SPV fails to remit, cash proceeds received by such SPV which are
in excess of the ordinary and necessary current operating expenses of such SPV, in a manner substantially consistent with the remittance
practice of Borrower as of the Effective Date.

 

9 BANK’S
RIGHTS AND REMEDIES

 

9.1 Rights
and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, without notice or demand, do any or
all of the following:

 

(a) declare
all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations are immediately
due and payable without any action by Bank). Notwithstanding the foregoing, if the only Event of Default that has occurred is solely the
result of Borrower failing to comply with the financial covenants set forth in Section 6.8 of this Agreement, and, with respect to an
Event of Default that has occurred solely as a result of Borrower failing to comply with the financial covenant set forth in Section 6.8(a),
Borrower has not made, is not currently making, or is not otherwise being required to make payments of principal with respect to that
certain Indebtedness of Borrower in favor of MLI Subdebt Facility 1 LLC in effect as of the Effective Date, then Obligations solely with
respect to the Term Loan Advance shall not become immediately due and payable upon such declaration by Bank;

 

(b) stop
advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and
Bank;

 

(c) demand
that Borrower (i) deposit cash with Bank in an amount equal to at least (A) one hundred five percent (105.0%) of the Dollar Equivalent
of the aggregate face amount of all Letters of Credit denominated in Dollars remaining undrawn, and (B) one hundred ten percent (110.0%)
of the Dollar Equivalent of the aggregate face amount of all Letters of Credit denominated in a Foreign Currency remaining undrawn (plus,
in each case, all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business
judgment)), to secure all of the Obligations relating to such Letters of Credit, as collateral security for the repayment of any future
drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all letter of
credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit;

 

(d) terminate
any FX Contracts;

 

(e) verify
the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust disputes and
claims directly with Account Debtors for amounts on terms and in any order that Bank considers advisable, and notify any Person owing
Borrower money of Bank’s security interest in such funds. Borrower shall collect all payments in trust for Bank and, if requested
by Bank, immediately deliver the payments to Bank in the form received from the Account Debtor, with proper endorsements for deposit;

 

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(f) make
any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the Collateral.
Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where the Collateral
is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears
to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any
of its premises, without charge, to exercise any of Bank’s rights or remedies;

 

(g) apply
to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) amount held by Bank owing to or for the credit or the account
of Borrower;

 

(h) ship,
reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Bank is hereby granted
a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works,
rights of use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar property as it pertains to the
Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise
of its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit;

 

(i) place
a “hold” on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other
directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral;

 

(j) demand
and receive possession of Borrower’s Books; and

 

(k) exercise
all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided under the Code
(including disposal of the Collateral pursuant to the terms thereof).

 

9.2 Power
of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact, exercisable upon the occurrence and during
the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks, payment instruments, or other forms of payment
or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) demand,
collect, sue, and give releases to any Account Debtor for monies due, settle and adjust disputes and claims about the Accounts directly
with Account Debtors, and compromise, prosecute, or defend any action, claim, case, or proceeding about any Collateral (including filing
a claim or voting a claim in any bankruptcy case in Bank’s or Borrower’s name, as Bank chooses); (d) make, settle, and adjust
all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, or
other claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and
(f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact
to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Bank’s security interest in the
Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnification obligations)
have been satisfied in full and the Loan Documents have been terminated. Bank’s foregoing appointment as Borrower’s attorney
in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations (other than inchoate
indemnification obligations) have been fully repaid and performed and the Loan Documents have been terminated.

 

9.3 Protective
Payments. If Borrower fails to obtain the insurance called for by Section 6.6 or fails to pay any premium thereon or fails to pay
any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve
the Collateral, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately
due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make
reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable
time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event
of Default.

 

9.4 Application
of Payments and Proceeds. If an Event of Default has occurred and is continuing, Bank shall have the right to apply in any order any
funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts
or other disposition of the Collateral, or otherwise, to the Obligations. Bank shall pay any surplus to Borrower by credit to the Designated
Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, directly
or indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have
the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the
reduction of the Obligations until the actual receipt by Bank of cash therefor.

 

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9.5 Bank’s
Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the Collateral in
the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any
loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman,
bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.

 

9.6 No
Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any provision
of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance
and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver and then is
only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and
the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s
exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or
other remedy available at law or in equity, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay
in exercising any remedy is not a waiver, election, or acquiescence.

 

9.7 Demand
Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment
at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees
held by Bank on which Borrower is liable.

 

9.8 Borrower
Liability. Any Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby appoints each other as agent
for the other for all purposes hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall
be jointly and severally obligated to repay all Credit Extensions made hereunder, regardless of which Borrower actually receives said
Credit Extension, as if each Borrower hereunder directly received all Credit Extensions. Each Borrower waives (a) any suretyship defenses
available to it under the Code or any other applicable law, and (b) any right to require Bank to: (i) proceed against any Borrower or
any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Bank may exercise or not exercise any
right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale)
without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each
Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower
to the rights of Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower,
or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with
respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate
in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this
Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section
9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 9.8, such Borrower shall hold such payment
in trust for Bank and such payment shall be promptly delivered to Bank for application to the Obligations, whether matured or unmatured.

 

10 NOTICES

 

All notices, consents, requests,
approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed
to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in
the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission,
when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with
all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified
and sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its mailing or electronic mail
address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10.

 

    23

     

    

 

		If to Borrower:	MONEYLION
INC.
	 	 	30 West 21st Street, 9th Floor
	 	 	New York, NY 10010
	 	 	Attn:  Rick Correia,
CFO
	 	 	Email: [*****]
	 	 	 
	 	with a copy to:	DLA
Piper LLP (US)
	 	 	500 8th Street, N.W.
	 	 	Washington, DC 20004
	 	 	Attn:  Richard J. Marks
	 	 	Fax:     (202) 799-5202
	 	 	Email:  Richard.Marks@dlapiper.com
	 	 	 
	 	If to Bank:	Silicon
Valley Bank
	 	 	387 Park Avenue South,
2nd Floor
	 	 	New York, New York
10016
	 	 	Attn:   Mr. Alex
Addario
	 	 	Email:   AAddario@svb.com
	 	 	 
	 	with a copy to:	Morrison & Foerster LLP
	 	 	200 Clarendon Street, 20th Floor
	 	 	Boston, Massachusetts 02116
	 	 	Attn:   David
A. Ephraim, Esquire
	 	 	Fax:    (617)
830-0142
	 	 	Email:  DEphraim@mofo.com
	 	 	 

 

11 CHOICE
OF LAW, VENUE AND JURY TRIAL WAIVER

 

Except as otherwise expressly
provided in any of the Loan Documents, New York law governs the Loan Documents without regard to principles of conflicts of law. Borrower
and Bank each submit to the exclusive jurisdiction of the State and Federal courts in New York, New York; provided, however, that nothing
in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction
to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank.
Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower
hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby
consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service
of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other
process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower
in accordance with, Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s
actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid.

 

TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON
THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS
WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

 

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This Section 11 shall survive
the termination of this Agreement.

 

12 GENERAL
PROVISIONS

 

12.1 Termination
Prior to Maturity Date; Survival.  All covenants, representations and warranties made in this Agreement shall continue in full force
until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the
Obligations (other than inchoate indemnity obligations, and any other obligations which, by their terms, are to survive the termination
of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this
Agreement), this Agreement may be terminated prior to the Revolving Line Maturity Date and the Term Loan Maturity Date by Borrower, effective
three (3) Business Days after written notice of termination is given to Bank. Those obligations that are expressly specified in this Agreement
as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination.

 

12.2 Successors
and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign
this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s
discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation
in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents
(other than the Warrant, as to which assignment, transfer and other such actions are governed by the terms thereof). Notwithstanding the
foregoing, so long as no Event of Default shall have occurred and is continuing, Bank shall not assign its interest in the Loan Documents
to any Person who in the reasonable estimation of Bank is (a) a direct competitor of Borrower, whether as an operating company or direct
or indirect parent with voting control over such operating company, or (b) a vulture fund or distressed debt fund.

 

12.3 Indemnification.
Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents, attorneys, or any other Person
affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (i) all obligations, demands,
claims, and liabilities (collectively, “Claims”) claimed or asserted by any other party in connection with the transactions
contemplated by the Loan Documents; and (ii) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or paid by
such Indemnified Person as a result of, following from, consequential to, or arising from transactions between Bank and Borrower contemplated
by the Loan Documents (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly caused by such
Indemnified Person’s gross negligence or willful misconduct. This Section 12.3 shall survive until all statutes of limitation with
respect to the Claims, losses, and expenses for which indemnity is given shall have run.

 

12.4 Time
of Essence. Time is of the essence for the performance of all Obligations in this Agreement.

 

12.5 Severability
of Provisions. Each provision of this Agreement is severable from every other provision in determining the enforceability of any provision.

 

12.6 Correction
of Loan Documents. Bank may correct patent errors and fill in any blanks in the Loan Documents consistent with the agreement of the
parties so long as Bank provides Borrower with written notice of such correction and allows Borrower at least ten (10) days to object
to such correction. In the event of such objection, such correction shall not be made except by an amendment signed by both Bank and Borrower.

 

12.7 Amendments
in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver, discharge or termination
of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a
writing signed by the party against which enforcement or admission is sought. Without limiting the generality of the foregoing, no oral
promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence,
an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific
circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or
give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement
about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties,
and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents.

 

    25

     

    

 

12.8 Counterparts.
This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed
and delivered, is an original, and all taken together, constitute one Agreement.

 

12.9 Confidentiality.
In handling any confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information,
but disclosure of information may be made: (a) to Bank’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together
with Bank, collectively, “Bank Entities”); (b) to prospective transferees or purchasers of any interest in the Credit
Extensions (provided, however, that any prospective transferee or purchaser shall have entered into an agreement containing provisions
substantially the same as those in this Section 12.9); (c) as required by law, regulation, subpoena, or other order; (d) to Bank’s
regulators or as otherwise required in connection with Bank’s examination or audit; (e) as Bank considers appropriate in exercising
remedies under the Loan Documents; and (f) to third-party service providers of Bank so long as such service providers have executed a
confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential information does not include
information that is either: (i) in the public domain or in Bank’s possession when disclosed to Bank, or becomes part of the public
domain (other than as a result of its disclosure by Bank in violation of this Agreement) after disclosure to Bank; or (ii) disclosed to
Bank by a third party, if Bank does not know that the third party is prohibited from disclosing the information.

 

Bank Entities may use anonymous
forms of confidential information for aggregate datasets, for analyses or reporting, and for any other uses not expressly prohibited in
writing by Borrower. The provisions of the immediately preceding sentence shall survive the termination of this Agreement.

 

12.10 Electronic
Execution of Documents. The words “execution,” “signed,” “signature” and words of like import
in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall
be of the same legal effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping systems,
as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the
Uniform Electronic Transactions Act.

 

12.11 Right
of Setoff. Borrower hereby grants to Bank a Lien and a right of setoff as security for all Obligations to Bank, whether now existing
or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping
or control of Bank or any entity under the control of Bank (including a subsidiary of Bank) or in transit to any of them. At any time
after the occurrence and during the continuance of an Event of Default, without demand or notice, Bank may setoff the same or any part
thereof and apply the same to any liability or Obligation of Borrower even though unmatured and regardless of the adequacy of any other
collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL
WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER,
ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

 

12.12 Captions.
The headings used in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.

 

12.13 Construction
of Agreement. The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation
of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty
to exist.

 

12.14 Relationship.
The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement. The parties do not intend
to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those
of parties to an arm’s-length contract.

 

    26

     

    

 

12.15 Third
Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights or remedies under
or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns;
(b) relieve or discharge the obligation or liability of any person not an express party to this Agreement; or (c) give any person not
an express party to this Agreement any right of subrogation or action against any party to this Agreement.

 

13 DEFINITIONS

 

13.1 Definitions.
As used in the Loan Documents, the word “shall” is mandatory, the word “may” is permissive, the word “or”
is not exclusive, the words “includes” and “including” are not limiting, the singular includes the plural, and
numbers denoting amounts that are set off in brackets are negative. As used in this Agreement, the following capitalized terms have the
following meanings:

 

“Account”
is any “account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation,
accounts, accounts receivable, monies due or to become due and obligations in any form (whether arising in connection with contracts,
contract rights, instruments, General Intangibles, or chattel paper), in each case whether arising out of goods sold or services rendered
or from any other transaction and whether or not earned by performance, now or hereafter in existence, and all documents of title or other
documents representing any of the foregoing, and all collateral security and guaranties of any kind, now or hereafter in existence, given
by any Person with respect to any of the foregoing.

 

“Account Debtor”
is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made.

 

“Adjusted Quick Ratio”
is the ratio of (a) Quick Assets to (b) Current Liabilities.

 

“Administrator”
is an individual that is named:

 

(a)  as
an “Administrator” in the “SVB Online Services” form completed by Borrower with the authority to determine who
will be authorized to use SVB Online Services (as defined in Bank’s Online Banking Agreement as in effect from time to time) on
behalf of Borrower; and

 

(b)  as
an Authorized Signer of Borrower in an approval by the Board.

 

“Advance”
or “Advances” means a revolving credit loan (or revolving credit loans) under the Revolving Line.

 

“Affiliate”
is, with respect to any Person, each other Person that owns or controls directly or indirectly the Person, any Person that controls or
is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners
and, for any Person that is a limited liability company, that Person’s managers and members.

 

“Agreement”
is defined in the preamble hereof.

 

“Authorized Signer”
is any individual listed in Borrower’s Borrowing Resolution who is authorized to execute the Loan Documents, including making (and
executing if applicable) any Credit Extension request, on behalf of Borrower.

 

“Availability Amount”
is (a) the Revolving Line minus (b) the aggregate Dollar Equivalent amount of all outstanding Letters of Credit (including drawn but unreimbursed
Letters of Credit) plus an amount equal to the Letter of Credit Reserve, minus (c) the FX Reduction Amount, minus (d) any amounts used
for Cash Management Services, and minus (e) the outstanding principal balance of any Advances.

 

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“Average EBITDA”
is, as of any date of determination, expressed as a positive number, the average monthly EBITDA during the immediately preceding three
(3) month period (as calculated by adding the EBITDA of Borrower for each month during such three (3) month period and then dividing such
amount by three (3)) (provided, however, if such amount is greater than zero (0) (independent of the proviso set forth in the beginning
of this definition providing that such number will be positive), then such amount shall be deemed to be one (1)).

 

“Bank”
is defined in the preamble hereof.

 

“Bank Entities”
is defined in Section 12.9.

 

“Bank Expenses”
are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses) for preparing, amending,
negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with
appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower.

 

“Bank Services”
are any products, credit services, and/or financial accommodations previously, now, or hereafter provided to Borrower or any of its Subsidiaries
by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including, without limitation,
merchant services, direct deposit of payroll, business credit cards, and check cashing services), interest rate swap arrangements, and
foreign exchange services as any such products or services may be identified in Bank’s various agreements related thereto (each,
a “Bank Services Agreement”) and shall include, without limitation, any Letters of Credit pursuant to Section 2.3, FX Contracts
pursuant to Section 2.4 and Cash Management Services pursuant to Section 2.5.

 

“Bank Services Agreement”
is defined in the definition of Bank Services.

 

“Board”
is Borrower’s board of directors or the limited liability company equivalent thereof.

 

“Borrower”
is defined in the preamble hereof.

 

“Borrower’s
Books” are all Borrower’s books and records including ledgers, federal and state tax returns, records regarding Borrower’s
assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment
containing such information.

 

“Borrowing Resolutions”
are, with respect to any Person, those resolutions adopted by such Person’s board of directors (or the limited liability company
equivalent thereof) (and, if required under the terms of such Person’s Operating Documents, stockholders) and delivered by such
Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a
certificate executed by its secretary on behalf of such Person certifying (a) such Person has the authority to execute, deliver, and perform
its obligations under each of the Loan Documents to which it is a party, (b) that set forth as a part of or attached as an exhibit to
such certificate is a true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the
execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized
to execute the Loan Documents, including making (and executing if applicable) any Credit Extension request, on behalf of such Person,
together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless
and until such Person shall have delivered to Bank a further certificate canceling or amending such prior certificate.

 

“Business Day”
is any day that is not a Saturday, Sunday or a day on which Bank is closed.

 

“Cash Equivalents”
means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having
maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its
creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.;
(c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at least ninety-five
percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition.

 

    28

     

    

 

“Cash Management
Services” is defined in Section 2.5.

 

“Change in Control”
means (a) at any time, any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange
Act), shall become, or obtain rights (whether by means of warrants, options or otherwise) to become, the “beneficial owner”
(as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of forty-nine percent (49.0%) or more of the
ordinary voting power for the election of directors of Borrower (determined on a fully diluted basis) other than by the sale of Borrower’s
equity securities in a public offering or to venture capital or private equity investors so long as Borrower identifies to Bank the venture
capital or private equity investors at least seven (7) Business Days prior to the closing of the transaction and provides to Bank a description
of the material terms of the transaction; (b) during any period of twelve (12) consecutive
months, a majority of the members of the board of directors or other equivalent governing body of Borrower cease to be composed of individuals
(i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination
to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of
such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination
to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting
at the time of such election or nomination at least a majority of that board or equivalent governing body; or (c) at any time, Borrower
shall cease to own and control, of record and beneficially, directly or indirectly, one hundred percent (100.0%) of each class of outstanding
capital stock of each Subsidiary of Borrower (except for those Class B Membership Interests in Invest in America Credit Fund 1 LLC held
by certain third-party investors) free and clear of all Liens (except Liens created by this Agreement and Permitted Liens).

 

“Claims”
is defined in Section 12.3.

 

“Class A Fund Interests”
means those certain Class A Units of each series of Invest in America Credit Fund 1 LLC held by ML Capital III LLC, in its capacity as
Class A Member of the fund.

 

“Code”
is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of New York; provided, that,
to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different
Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that
in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with
respect to, Bank’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the
State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction
solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions
relating to such provisions.

 

“Collateral”
is any and all properties, rights and assets of Borrower described on Exhibit A.

 

“Collateral Account”
is any Deposit Account, Securities Account, or Commodity Account.

 

“Commodity Account”
is any “commodity account” as defined in the Code with such additions to such term as may hereafter be made.

 

“Compliance Statement”
is that certain statement in the form attached hereto as Exhibit B.

 

“Contingent Obligation”
is, for any Person, any direct or indirect liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter
of credit or other obligation of another such as an obligation, in each case, directly or indirectly guaranteed, endorsed, co made, discounted
or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters
of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest
rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates,
currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the ordinary course
of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent
Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith;
but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement.

 

    29

     

    

 

“Control Agreement”
is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account or the securities
intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant
to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account.

 

“Copyrights”
are any and all copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and
derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret.

 

“Credit Extension”
is any Advance, the Term Loan Advance, any Overadvance, Letter of Credit, FX Contract, amount utilized for Cash Management Services, or
any other extension of credit by Bank for Borrower’s benefit.

 

“Current Liabilities”
are (a) all obligations and liabilities of Borrower and its Subsidiaries to Bank (excluding, however, the Term Loan Advance but, for clarity,
including all Indebtedness in connection with Bank Services), plus, without duplication, (b) the aggregate amount of Borrower’s
Total Liabilities that mature within one (1) year (including, without limitation, the Term Loan Advance).

 

“Default Rate”
is defined in Section 2.8(b).

 

“Deposit Account”
is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

 

“Designated Deposit
Account” is the account number ending [________________________] (last three digits) maintained by Borrower with Bank (provided,
however, if no such account number is included, then the Designated Deposit Account shall be any deposit account of Borrower maintained
with Bank as chosen by Bank).

 

“Division”
means, in reference to any Person which is an entity, the division of such Person into two (2) or more separate Persons, with the dividing
Person either continuing or terminating its existence as part of such division, including, without limitation, as contemplated under Section
18-217 of the Delaware Limited Liability Company Act for limited liability companies formed under Delaware law, or any analogous action
taken pursuant to any other applicable law with respect to any corporation, limited liability company, partnership or other entity.

 

“Dollars,”
“dollars” or use of the sign “$” means only lawful money of the United States and not any other currency,
regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money
of the United States.

 

“Dollar Equivalent”
is, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in
a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the then-prevailing rate
of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency.

 

“EBITDA”
shall mean (a) Net Income, plus (b) to the extent deducted in the calculation of Net Income, (i) Interest Expense, (ii) depreciation expense
and amortization expense, and (iii) income tax expense.

 

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“Effective Date”
is defined in the preamble hereof.

 

“Equipment”
is all “equipment” as defined in the Code with such additions to such term as may hereafter be made, and includes without
limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing.

 

“ERISA”
is the Employee Retirement Income Security Act of 1974, and its regulations.

 

“Event of Default”
is defined in Section 8.

 

“Excess Funds”
are, as of any date of determination, funds held by IIA that are (a) either (i) not otherwise required to be maintained by IIA pursuant
to the terms of the applicable Account purchase, loan financing, warehouse, or other similar agreement to which IIA is a party or (ii)
do not represent an Investment permitted by clause (d) of the definition of “Permitted Investments” prior to the origination
of an Account for which such Investment has been made, and (b) in excess of Five Hundred Thousand Dollars ($500,000.00) above the aggregate
amount of (a)(i) and (a)(ii).

 

“Exchange Act”
is the Securities Exchange Act of 1934, as amended.

 

“Excluded Accounts”
means: (a) those accounts listed on Exhibit D attached hereto, (b) any deposit or investment account with any financial institution
other than Bank or an Affiliate of Bank established solely to comply with state or local consumer lending laws or regulations, provided
that the balance or amount of funds maintained in any such account individually does not at any time exceed Two Hundred Thousand Dollars
($200,000.00) and the aggregate amount of funds maintained in all such accounts measured together does not exceed One Million Dollars
($1,000,000.00) at any time and (c) any deposit or investment account with any financial institution other than Bank or an Affiliate of
Bank that is required under the terms of an operating program or payment processing arrangement between Borrower (or any Affiliate of
Borrower) and a third-party service provider; provided that the aggregate amount of funds in such accounts (measured together) provided
for in this clause (c) shall not exceed the lesser of (x) the amount approved in Borrower’s Board approved budgets delivered to
Bank and (y) Five Hundred Thousand Dollars ($500,000.00) (or such higher amount agreed to by Bank in writing in its sole discretion) at
any time.

 

“Existing PWB Accounts”
is defined in Section 6.7(a).

 

“Excluded Subsidiary”
means each of the Subsidiaries set forth on Exhibit E attached hereto, together with any additional Subsidiaries consented to in
writing by Bank in its sole discretion.

 

“Final Payment”
is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest
to occur of (a) the Term Loan Maturity Date, (b) the repayment of the Term Loan Advance in full, (c) as required pursuant to Section 2.6(d)
or 2.6(e), or (d) the termination of this Agreement, in an amount equal to the original aggregate principal amount of the Term Loan Advance
multiplied by one and one-half of one percent (1.50%).

 

“Financial Statement
Repository” is the email address wd8b0c@svb.com or such other means of collecting information approved and designated by Bank
after providing notice thereof to Borrower from time to time.

 

“Foreign Currency”
means lawful money of a country other than the United States.

 

“Funding Date”
is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

 

“FX Business Day”
is any day when (a) Bank’s Foreign Exchange Department is conducting its normal business and (b) the Foreign Currency being purchased
or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency.

 

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“FX Contract”
is defined in Section 2.4.

 

“FX Reduction Amount”
means, with respect to a given FX Contract, the notional amount thereof multiplied by the currency exchange risk factor for the currencies
involved in the FX Contract, multiplied by the current foreign exchange spot rates, in each instance as determined and calculated by Bank
in its sole discretion.

 

“GAAP”
is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the
circumstances as of the date of determination.

 

“General Intangibles”
is all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter
be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits,
payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter
pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business
interruption insurance), payments of insurance and rights to payment of any kind.

 

“Governmental Approval”
is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice,
of, issued by, from or to, or other act by or in respect of, any Governmental Authority.

 

“Governmental Authority”
is any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body,
court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or
pertaining to government, any securities exchange and any self-regulatory organization.

 

“IIA” is
collectively, Parent Borrower’s indirect wholly owned Subsidiaries (a) Invest in America Credit Fund 1 LLC, (b) Invest in America
Notes SPV 1 LLC and (c) Invest in America Notes SPV IV LLC.

 

“Indebtedness”
is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and other obligations for
surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations,
and (d) Contingent Obligations.

 

“Indemnified Person”
is defined in Section 12.3.

 

“Insolvency Proceeding”
is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including
assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization,
arrangement, or other relief.

 

“Intellectual Property”
means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:

 

(a) its
Copyrights, Trademarks and Patents;

 

(b) any
and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how and operating
manuals;

 

(c) any
and all source code;

 

(d) any
and all design rights which may be available to such Person;

 

    32

     

    

 

(e) any
and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the obligation,
to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and

 

(f) all
amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents.

 

“Interest Expense”
means for any fiscal period, interest expense (whether cash or non-cash) determined in accordance with GAAP for the relevant period ending
on such date, including, in any event, interest expense with respect to any Credit Extension and other Indebtedness of Borrower, including,
without limitation or duplication, all commissions, discounts, or related amortization and other fees and charges with respect to letters
of credit and bankers’ acceptance financing and the net costs associated with interest rate swap, cap, and similar arrangements,
and the interest portion of any deferred payment obligation (including leases of all types).

 

“Inventory”
is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter
be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process
and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or
in transit and including any returned goods and any documents of title representing any of the above.

 

“Investment”
is any beneficial ownership interest in any Person (including stock, partnership interest or other securities), and any loan, advance
or capital contribution to any Person.

 

“IP Agreement”
is that certain Intellectual Property Security Agreement among each Borrower and Bank dated as of the Effective Date, as may be amended,
modified or restated from time to time.

 

“Key Person”
is each of Borrower’s (a) Chief Executive Officer and (b) Chief Financial Officer.

 

“Letter of Credit”
means a standby letter of credit issued by Bank or another institution based upon an application, guarantee, indemnity or similar agreement
on the part of Bank as set forth in Section 2.3.

 

“Letter of Credit
Application” is defined in Section 2.3(b).

 

“Letter of Credit
Reserve” is defined in Section 2.3(e).

 

“Lien”
is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any kind, whether voluntarily incurred
or arising by operation of law or otherwise against any property.

 

“Liquidity Threshold”
is, as of any date of determination, unrestricted and unencumbered cash of Borrower (a) maintained with Bank and (b) solely for the period
beginning on the Effective Date and ending on the date that is six (6) months after the Effective Date, maintained in accounts with other
financial institutions subject to a Control Agreement, equal to at least Twenty Million Dollars ($20,000,000.00).

 

“Loan Documents”
are, collectively, this Agreement and any schedules, exhibits, certificates, notices, and any other documents related to this Agreement,
the IP Agreement, the Warrant, the Perfection Certificate, any Control Agreement, any Bank Services Agreement, any subordination agreement,
any note, or notes or guaranties executed by Borrower, and any other present or future agreement by Borrower with or for the benefit of
Bank, all as amended, restated, or otherwise modified.

 

“Material Adverse
Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the Collateral or in the value of
such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; (c) a material
impairment of the prospect of repayment of any portion of the Obligations; or (d) Bank determines, based upon information available to
it and in its reasonable judgment, that there is a reasonable likelihood that Borrower shall fail to comply with one or more of the financial
covenants in Section 6 during the next succeeding financial reporting period.

 

    33

     

    

 

“Minimum Interest”
is defined in Section 2.8(d).

 

“Minimum Interest
Period” is defined in Section 2.8(d).

 

“ML Plus”
is defined in the preamble hereof.

 

“MLI Subordination
Agreement” means that certain Subordination Agreement, dated even date herewith, among MLI Subdebt Facility I LLC and Bank,
as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms.

 

“MLI Subordinated
Loan Agreement” means that certain Loan and Security Agreement, dated as of April 17, 2020, among Borrower and MLI Subdebt Facility
I LLC, as collateral agent, administrative agent and a lender.

 

“MLI Subordinated
Loan Documents” means, collectively, the MLI Subordinated Loan Agreement, and each of the other Loan Documents (as defined in
the MLI Subordinated Loan Agreement) as the same may be amended, modified, supplemented or restated from time to time to the extent permitted
by this Agreement.

 

“Monthly Financial
Statements” is defined in Section 6.2(b).

 

“Net Income”
means, as calculated for Borrower for any period as at any date of determination, the net profit (or loss), after provision for taxes,
of Borrower for such period taken as a single accounting period.

 

“Obligations”
are Borrower’s obligations to pay when due any debts, principal, interest, fees, Bank Expenses, the Unused Revolving Line Facility
Fee, the Final Payment, the Termination Fee, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other
Loan Documents (other than the Warrant), or otherwise, including, without limitation, all obligations relating to Bank Services and interest
accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s
duties under the Loan Documents (other than the Warrant).

 

“Operating Documents”
are, for any Person, such Person’s formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s
jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the Effective Date, and, (a) if such Person is
a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement
(or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing
with all current amendments or modifications thereto.

 

“Overadvance”
is defined in Section 2.7.

 

“Parent Borrower”
is defined in the preamble hereof.

 

“Patents”
means all patents, patent applications and like protections including without limitation improvements, divisions, continuations, renewals,
reissues, extensions and continuations-in-part of the same.

 

“Payment/Advance
Form” is that certain form attached hereto as Exhibit C.

 

“Payment Date”
is (a) with respect to the Term Loan Advance, the first (1st) calendar day of each month and (b) with respect to Advances, the last calendar
day of each month.

 

“Perfection Certificate”
is defined in Section 5.1.

 

“Permitted Indebtedness”
is:

 

(a) Borrower’s
Indebtedness to Bank under this Agreement and the other Loan Documents;

 

    34

     

    

 

(b) Indebtedness
existing on the Effective Date of Borrower’s Subsidiaries (and for clarity, not of any Borrower) which is shown on the Perfection
Certificate;

 

(c) Subordinated
Debt (which, for clarity, includes Indebtedness pursuant to the MLI Subordinated Loan Documents in existence as of the Effective Date
so long as such debt is subject to a Subordination Agreement);

 

(d) unsecured
Indebtedness to trade creditors incurred in the ordinary course of business;

 

(e) Indebtedness
of any SPV with respect to any Account purchase, loan financing, warehouse, or other similar agreement, which shall not include any obligation
or Indebtedness of any Borrower or any other Subsidiary that are not a SPV;

 

(f) intracompany
Indebtedness between a Borrower and another Borrower;

 

(g) Indebtedness
incurred as a result of endorsing negotiable instruments received in the ordinary course of business;

 

(h) Indebtedness
secured by Liens permitted under clauses (a) and (c) of the definition of “Permitted Liens” hereunder;

 

(i) Indebtedness
consisting of performance bonds, bid bonds, surety bonds, appeal bonds and similar obligations, in each case provided in the ordinary
course of business not to exceed Two Hundred Thousand Dollars ($200,000.00) outstanding in the aggregate at any time;

 

(j) that
certain unsecured Limited Guaranty and Indemnity Agreement of Parent Borrower in favor of Cortland Capital Market Services LLC and Macquarie
Investments US Inc. dated as of August 31, 2016 as in effect as of the Effective Date and as may only be amended, modified, supplemented
and/or restated with the prior written consent of Bank;

 

(k) that
certain unsecured Guaranty of Parent Borrower in favor of First Electronic Bank dated as of July 3, 2018 as in effect as of the Effective
Date and as may only be amended, modified, supplemented and/or restated with the prior written consent of Bank;

 

(l) Indebtedness
incurred in the ordinary course of business in respect of credit cards, credit card processing services, debit cards, stored value cards,
purchased and automated clearing house arrangements, provided that the aggregate outstanding amount of such Indebtedness at any time does
not exceed Two Hundred Thousand Dollars ($200,000.00);

 

(m) Indebtedness
consisting of overdraft protections incurred in the ordinary course of business with respect to deposit accounts (but only to the extent
that Borrower is permitted to maintain such accounts pursuant to Section 6.7 of this Agreement);

 

(n) prior
to December 31, 2020, Indebtedness in favor of Pacific Western Bank in respect of that certain letter of credit in existence as of the
Effective Date and in the principal amount of Seven Hundred Thousand Dollars ($700,000.00); and

 

(o) extensions,
refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (n) above, provided that the
principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary,
as the case may be.

 

    35

     

    

 

“Permitted Investments”
are:

 

(a) Investments
(including, without limitation, Subsidiaries) existing on the Effective Date which are shown on the Perfection Certificate;

 

(b) Investments
consisting of Cash Equivalents;

 

(c) so long
as both (i) Borrower maintains the Liquidity Threshold on the date of such Investment and would maintain the Liquidity Threshold following
such Investment and (ii) no Event of Default exists or would exist as a result of such Investment, (A) Investments in Subsidiaries for
the ordinary and necessary current operating expenses of such Subsidiaries and for the purpose of originating Accounts and (B) Investments
in connection with the creation of an SPV, subject to the requirements of Section 6.13;

 

(d) Investments
by Borrower in SPVs for the sole purpose of prefunding an Account which will be originated within three (3) Business Days of the date
of such Investment by Borrower, so long as Bank has received satisfactory evidence that Borrower has Remaining Months Liquidity greater
than six (6) immediately prior to any such Investment and will have Remaining Months Liquidity greater than six (6) immediately following
such Investment. Notwithstanding the foregoing, to the extent that an Investment by Borrower in an SPV pursuant to the foregoing sentence
is not used to originate an Account within the foregoing timeframe, such Investment shall be returned to Borrower immediately, and failure
to cause such SPV to remit such Investment shall be an immediate Event of Default hereunder;

 

(e) Investments
by one Borrower in another Borrower;

 

(f) Investments
consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower;

 

(g) Investments
consisting of deposit accounts (but only to the extent that Borrower is permitted to maintain such accounts pursuant to Section 6.7 of
this Agreement) in which Bank has a first priority perfected security interest to the extent required by Section 6.7 of this Agreement;

 

(h) Investments
accepted in connection with Transfers permitted by Section 7.1;

 

(i) Investments
consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business
of up to Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate outstanding at any time, and (ii) loans to employees, officers
or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or
agreements approved by the Board provided that the entire loan must be used to purchase such equity interests, thereby resulting in a
zero net outflow of cash from Borrower;

 

(j) Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement
of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business;

 

(k) Investments
consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates,
in the ordinary course of business; provided that this paragraph (k) shall not apply to Investments of Borrower in any Subsidiary and,
including for clarity, any consumer loans originated or acquired by Borrower or Subsidiaries in the ordinary course of business; and

 

(l) joint
ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the non-exclusive licensing of technology,
the development of technology or the providing of technical support, provided that any cash investments by Borrower do not exceed Two
Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate in any fiscal year.

 

    36

     

    

 

“Permitted Liens”
are:

 

(a) Liens
existing on the Effective Date on the assets of Borrower’s Subsidiaries (and for clarity, not on any assets of any Borrower) which
are shown on the Perfection Certificate or arising under this Agreement or the other Loan Documents;

 

(b) Liens
for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good faith
and for which Borrower maintains adequate reserves on Borrower’s Books, provided that no notice of any such Lien has been filed
or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted thereunder;

 

(c) purchase
money Liens or capital leases (i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment securing
no more than Fifty Thousand Dollars ($50,000.00) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if
the Lien is confined to the property and improvements and the proceeds of the Equipment;

 

(d) Liens
of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long
as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Fifty Thousand Dollars ($50,000.00)
and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings
which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;

 

(e) Liens
to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred
in the ordinary course of business (other than Liens imposed by ERISA);

 

(f) Liens
incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in (a) through (c), but any extension,
renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness
may not increase;

 

(g) leases
or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the
ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other
than Intellectual Property) granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary
course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest
therein;

 

(h) non-exclusive
licenses of Intellectual Property granted to third parties in the ordinary course of business;

 

(i) Liens
arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under Sections 8.4 and
8.7;

 

(j) Liens
in favor of other financial institutions arising in connection with Borrower’s deposit and/or securities accounts held at such institutions,
provided that (i) Bank has a first priority perfected security interest in the amounts held in such deposit and/or securities accounts
(ii) such accounts are permitted to be maintained pursuant to Section 6.7 of this Agreement;

 

(k) Liens
on Accounts of SPVs which have been sold or transferred by an SPV, but only to the extent done so pursuant to and in full compliance with
the terms of this Agreement, and only so long as such Liens only cover the Accounts sold by such SPVs and proceeds thereof;

 

(l) Liens
on cash deposits in accounts with other financial institutions securing only its Indebtedness permitted under clauses (l) and (m) of the
definition of “Permitted Indebtedness” in this Agreement, to the extent that such accounts are permitted to be maintained
pursuant to Section 6.7 of this Agreement;

 

    37

     

    

 

(m) Liens
securing the Subordinated Debt pursuant to the MLI Subordinated Loan Documents, so long as such Liens cover no property not otherwise
covered by the Lien in favor of Bank.

 

“Permitted SPV Parent
Transfers” are Transfers of either Transferred Accounts or Transferred Cash.

 

“Person”
is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.

 

“Pre-Tax Income”
shall mean, as calculated for Borrower, (a) Net Income, plus (b) to the extent deducted in the calculation of Net Income, (i) income tax
expense and (ii) non-cash warrant expense.

 

“Prime Rate”
is the rate of interest per annum from time to time published in the money rates section of The Wall Street Journal or any successor publication
thereto as the “prime rate” then in effect; provided that, in the event such rate of interest is less than zero, such rate
shall be deemed to be zero for purposes of this Agreement; and provided further that if such rate of interest, as set forth from time
to time in the money rates section of The Wall Street Journal, becomes unavailable for any reason as determined by Bank, the “Prime
Rate” shall mean the rate of interest per annum announced by Bank as its prime rate in effect at its principal office in the State
of California (such Bank announced Prime Rate not being intended to be the lowest rate of interest charged by Bank in connection with
extensions of credit to debtors); provided that, in the event such rate of interest is less than zero, such rate shall be deemed to be
zero for purposes of this Agreement.

 

“Quick Assets”
is, on any date, (a) Borrower’s unrestricted and unencumbered cash maintained at Bank, which shall be in an aggregate amount not
less than Ten Million Dollars ($10,000,000.00) at any time, plus (b) the lesser of (i) Borrower’s unrestricted and unencumbered
cash maintained in payment processor accounts and (ii) Ten Million Dollars ($10,000,000.00), plus (c) Borrower’s net billed accounts
receivable determined according to GAAP, plus (d) the lesser of (i) seventy-five percent (75.0%) of unrestricted and unencumbered cash
of Borrower which is held by IIA and (ii) Ten Million Dollars ($10,000,000.00).

 

“Registered Organization”
is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made.

 

“Remaining Months
Liquidity” means as of a date of determination (a) Borrower’s unrestricted and unencumbered Cash maintained in accounts
with Bank on such date divided by (b) Average EBITDA for the three (3) month period ending on the last day of the immediately preceding
month.

 

“Requirement of Law”
is as to any Person, the organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation
or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or
any of its property or to which such Person or any of its property is subject.

 

“Reserves”
means, as of any date of determination, such amounts as Bank may from time to time establish and revise in its good faith business judgment,
reducing the amount of Advances and other financial accommodations which would otherwise be available to Borrower (a) to reflect events,
conditions, contingencies or risks which, as determined by Bank in its good faith business judgment, do or may adversely affect (i) the
Collateral or any other property which is security for the Obligations or its value (including without limitation any increase in delinquencies
of Accounts), (ii) the assets, business or prospects of Borrower, or (iii) the security interests and other rights of Bank in the Collateral
(including the enforceability, perfection and priority thereof); or (b) to reflect Bank’s reasonable belief that any collateral report
or financial information furnished by or on behalf of Borrower to Bank is or may have been incomplete, inaccurate or misleading in any
material respect; or (c) in respect of any state of facts which Bank determines constitutes an Event of Default or may, with notice
or passage of time or both, constitute an Event of Default.

 

“Responsible Officer”
is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower.

 

    38

     

    

 

“Restricted License”
is any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower
from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a
default under or termination of could interfere with Bank’s right to sell any Collateral.

 

“Revolving Line”
is an aggregate principal amount equal to Twenty Million Dollars ($20,000,000.00).

 

“Revolving Line Maturity
Date” is May 1, 2022.

 

“SEC” shall
mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority.

 

“Securities Account”
is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

 

“Settlement Date”
is defined in Section 2.4.

 

“SPV” is
any securitization trust or special purpose vehicle which is a Subsidiary or Affiliate of Borrower, formed for and used for the purpose
of allowing Borrower to purchase Accounts in connection with any Account purchase, loan financing, warehouse, or other similar agreement
or as part of a securitization structure or a revolving credit facility, including, without limitation, IIA; provided, however, under
no circumstance shall a Borrower or State Subsidiary be deemed to be an SPV under this definition.

 

“State Subsidiary”
shall mean each of Borrower’s Subsidiaries: MoneyLion of Alabama LLC, MoneyLion of Arizona LLC, MoneyLion of California LLC, MoneyLion
of Colorado LLC, MoneyLion of Connecticut LLC, MoneyLion of Delaware LLC, MoneyLion of Florida LLC, MoneyLion of Georgia LLC, MoneyLion
of Idaho LLC, MoneyLion of Illinois LLC, MoneyLion of Indiana LLC, MoneyLion of Kansas LLC, MoneyLion of Kentucky LLC, MoneyLion of Louisiana
LLC, MoneyLion of Maryland LLC, MoneyLion of Michigan LLC, MoneyLion of Minnesota LLC, MoneyLion of Mississippi LLC, MoneyLion of Missouri
LLC, MoneyLion of Nevada LLC, MoneyLion of New Jersey LLC, MoneyLion of New Mexico LLC, MoneyLion of New York LLC, MoneyLion of North
Carolina LLC, MoneyLion of North Dakota LLC, MoneyLion of Ohio LLC, MoneyLion of Oklahoma LLC, MoneyLion of Oregon LLC, MoneyLion of South
Carolina LLC, MoneyLion of South Dakota LLC, MoneyLion of Tennessee LLC, MoneyLion of Texas LLC, MoneyLion of Utah LLC, MoneyLion of Virginia
LLC, MoneyLion of Washington LLC, MoneyLion of Wisconsin LLC, and MoneyLion of Wyoming LLC, and any successors or assigns of each such
Subsidiary.

 

“Subordinated Debt”
is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination,
intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor),
on terms acceptable to Bank.

 

“Subsidiary”
is, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership
interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening
of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are
at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both,
by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower.
For clarity, as used herein, Subsidiary shall include a Subsidiary of a Subsidiary, and so on.

 

“Term Loan Advance”
is defined in Section 2.6 of this Agreement.

 

“Term Loan Maturity
Date” is May 1, 2024.

 

“Termination Fee”
is defined in Section 2.9(b).

 

    39

     

    

 

“Total Liabilities”
is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower’s and its Subsidiaries consolidated
balance sheet, including all Indebtedness.

 

“Trademarks”
means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like
protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks.

 

“Transfer”
is defined in Section 7.1.

 

“Transferred Accounts”
are Accounts which have been transferred by a SPV to Parent Borrower for no consideration of Parent Borrower for the sole purpose of transferring
such Accounts to another SPV. Under no circumstance shall Transferred Accounts include any other property of Parent Borrower.

 

“Transferred Cash”
is cash which has been transferred by a SPV to Parent Borrower in for the sole purpose of paying arms-length consideration to another
SPV for Transferred Accounts, and has been identified in writing at the time of such transaction as being such Transferred Cash and so
long as such Transferred Cash is not commingled with the assets of any Borrower. Under no circumstance shall Transferred Cash include
any other property of Parent Borrower, including, without limitation, other cash transferred by any SPV to Parent Borrower.

 

“Unused Revolving
Line Facility Fee” is defined in Section 2.9(e).

 

“Warrant”
is that certain Warrant to Purchase Stock dated as of the Effective Date between Parent Borrower and Bank, as amended, modified, supplemented
and/or restated from time to time.

 

[Signature page follows.]

 

    40

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

	 	BORROWER:
	 	 
	 	MONEYLION INC.
	 	 
		By	/s/
Diwakar Choubey
	 	 
	 	Name:	Diwakar Choubey
	 	 
	 	Title: 	CEO
	 	 
	 	ML PLUS LLC
	 	 
		By	/s/
Diwakar Choubey
	 	 
	 	Name: 	Diwakar Choubey
	 	 
	 	Title:	Manager
	 	 
	 	BANK:
	 	 
	 	SILICON VALLEY
    BANK
	 	 
		By	/s/
Alex Addario
	 	 
	 	Name: 	Alex Addario
	 	 
	 	Title: 	Director

 

Signature
Page to Loan and Security Agreement

 

    

     

    

 

EXHIBIT A - COLLATERAL DESCRIPTION

 

The Collateral consists of
all of Borrower’s right, title and interest in and to the following personal property:

 

All goods, Accounts (including
health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements,
General Intangibles, Intellectual Property, commercial tort claims, documents, instruments (including any promissory notes), chattel paper
(whether tangible or electronic), cash, deposit accounts, certificates of deposit, fixtures, letters of credit rights (whether or not
the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial
assets, whether now owned or hereafter acquired, wherever located; and

 

all Borrower’s Books
relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments,
accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing.

 

Notwithstanding the foregoing,
the Collateral does not include (a) any rights held under a license that are not assignable by their terms without the consent of the
licensor thereof (but only to the extent such restriction on assignment is enforceable under applicable law), (b) any interest of Borrower
as a lessee or sublessee under a real property lease or an Equipment lease if Borrower is prohibited by the terms of such lease from granting
a security interest in such lease or under which such an assignment or Lien would cause a default to occur under such lease (but only
to the extent that such prohibition is enforceable under all applicable laws including, without limitation, the Code); provided, however,
that upon termination of such prohibition, such interest shall immediately become Collateral without any action by Borrower or Bank, (c)
the Excluded Accounts, or (d) only to the extent that such equity interests or other ownership interests of or in any Excluded Subsidiary
are not otherwise pledged to, or otherwise collateral for Subordinated Debt, any equity interests or other ownership interest of or in
any Excluded Subsidiary.

 

    

     

    

 

EXHIBIT B

 

[*****]

 

    

     

    

 

EXHIBIT C – LOAN PAYMENT/ADVANCE REQUEST
FORM

 

[*****]

 

    

     

    

 

EXHIBIT D

 

[*****]

 

    

     

    

 

EXHIBIT E

 

[*****]

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