Document:

Exhibit
4.9

 

WARRANT
TO PURCHASE

SHARES
OF CLASS A COMMON STOCK OF

PEN
INC.

 

Dated:
[date of issue]

 

This
certifies that PEN Comeback, LLC (the “Holder”), for value received, is entitled to purchase, at the Stock
Purchase Price (as defined below), from PEN Inc., a Delaware corporation (the “Company”), up to _____ fully
paid and nonassessable shares (the “Warrant Shares”) of Class A Common Stock, $0.0001 par value per share (the
“Class A Stock”) (subject to adjustment under Section 4).

 

This
Warrant will be exercisable from time to time, in whole or in part, from and after the date hereof (the “Initial Exercise
Date”) up to and including 5:00 p.m. (Eastern Time) until the fourth anniversary of the Initial Exercise Date (the “Expiration
Time”), upon delivery to the Company of (i) the Form of Exercise Notice attached as Appendix A duly completed
and executed, (ii) payment of the aggregate Stock Purchase Price for the number of shares for which this Warrant is being exercised.
The “Stock Purchase Price” equals $1.50 per share of the Warrant Shares (subject to adjustment under Section
4).

 

1.
Exercise; Delivery; Acknowledgement.

 

(a)
Exercise. This Warrant is exercisable at the option of the Holder, at any time or from time to time from or after the
Initial Exercise Date up to the Expiration Time for all or any part of the Warrant Shares. The Holder will be treated as the record
owner of Warrant Shares as of the close of business on the date on which (i) the completed, executed form of Exercise Notice is
delivered, and (ii) payment is made for the shares.

 

(b)
Delivery. Upon exercise of this Warrant, the Company will, (x) within three Business Days after exercise, issue and
deliver a statement for the Warrant Shares that were purchased, at the Company’s expense, to the Holder or, (y) if available,
and upon request and at the expense of the Holder, within three Business Days after the rights represented by this Warrant have
been so exercised, deliver the Warrant Shares by book entry, confirmed by the Company’s transfer agent.

 

“Business
Day” means any day, other than a Saturday, Sunday and any day that is a legal holiday under the Laws of the State of
Ohio or Florida, or is a day on which banking institutions located in the State of Ohio or Florida are authorized or required
by law or other governmental action to close.

 

(c)
Acknowledgement. In the case of a purchase of less than all the Warrant Shares, the Company will execute and deliver
to the Holder, within ten days after the rights represented by this Warrant have been exercised, an Acknowledgement in the form
of Appendix B indicating the number of Warrant Shares which remain subject to this Warrant, if any.

 

2.
Payment for Shares. The aggregate purchase price for Warrant Shares being purchased hereunder may be paid by (i) cash
or wire transfer of immediately available funds to a bank account specified by the Company, or (ii) certified or bank cashier’s
check.

 

3.
Shares to be Fully Paid. All Warrant Shares which may be issued upon the exercise of the rights represented by this
Warrant will, upon issuance, be duly authorized, validly issued, fully paid and nonassessable. The Company will take all action
as may be reasonably necessary to assure that the shares of Class A Stock may be issued as provided herein without violation of
any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system, if applicable,
upon which the Class A Stock may be listed.

 

4.
Adjustment of Stock Purchase Price and Number of Shares. The Stock Purchase Price and the number of shares purchasable
upon the exercise of this Warrant shall be subject to adjustment as described in this Section 4. Upon each adjustment of the Stock
Purchase Price, the Holder shall thereafter be entitled to purchase, at the Stock Purchase Price resulting from the adjustment,
the number of shares obtained by multiplying the Stock Purchase Price in effect immediately prior to the adjustment by the number
of shares purchasable pursuant hereto immediately prior to the adjustment, and dividing the product by the Stock Purchase Price
resulting from the adjustment.

 

    	 	 	 

    	 

    

 

(a)
Subdivisions, Combinations and Dividends. If the Company (x) pays a dividend or makes a distribution, in shares of
Class A Stock, on any all or substantially all shares of Class A Stock, (y) splits or subdivides its outstanding Class A Stock
into a greater number of shares, or (z) combines its outstanding Class A Stock into a smaller number of shares, then in each case
the Stock Purchase Price in effect immediately prior thereto shall be adjusted so that the Holder shall be entitled to receive
the number of shares of Class A Stock that the Holder would have owned or would have been entitled to receive after the occurrence
of any of the events described above had this Warrant been exercised immediately prior to the event. An adjustment made under
this Section 4(a) shall become effective immediately after the close of business on the dividend or distribution date in the case
of a dividend or distribution and shall become effective immediately after the close of business on the effective date in the
case of a subdivision, split or combination, as the case may be. If as a result of an adjustment under this Section 4(a), the
Holder is entitled to receive any shares of the Company other than shares of Class A Stock, thereafter the number of other shares
receivable upon exercise of this Warrant shall be subject to adjustment on terms as nearly equivalent as practicable to the provisions
of this Section 4 with respect to the Class A Stock.

 

(b)
Reclassification. If any reclassification of the capital stock of the Company, by merger, consolidation, reorganization
or otherwise, is effected so that holders of Class A Stock are entitled to receive stock, securities, or other assets or property,
then, as a condition of the reclassification, lawful and adequate provisions shall be made whereby the Holder shall thereafter
have the right to purchase and receive (in lieu of the shares of Class A Stock purchasable and receivable upon the exercise of
this Warrant immediately prior to the reclassification) the shares of stock, securities or other assets or property as may be
issued or payable with respect to or in exchange for a number of outstanding shares of Class A Stock equal to the number of shares
of Class A Stock purchasable and receivable upon the exercise of this Warrant immediately prior to the reclassification. If the
Company is acquired in an all cash transaction, the Holder shall have the right to receive cash equal to the value of the Warrant
Shares issuable upon exercise of this Warrant immediately prior to the closing of the transaction reduced by the aggregate Stock
Purchase Price. In any reclassification described above, appropriate provision shall be made with respect to the rights and interests
of the Holder so that the provisions hereof (including, without limitation, provisions for adjustments of the Stock Purchase Price
and of the number of shares purchasable and receivable upon the exercise of this Warrant) shall continue to apply in relation
to any shares of stock, or other securities or assets thereafter deliverable upon the exercise hereof.

 

(c)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, distributes to all holders of
Class A Stock for no consideration (w) evidences of its indebtedness, (x) any security (other than a distribution of Class A Stock
covered by the preceding paragraphs), (y) rights or warrants to subscribe for or purchase any security, or (z) any other asset,
including cash (in each case, “Distributed Property”), then, upon any exercise of this Warrant that occurs
after the record date for determination of stockholders entitled to receive the distribution, the Holder shall be entitled to
receive, in addition to the Warrant Shares, the Distributed Property that the Holder would have been entitled to receive if the
Holder been the record holder of the Warrant Shares immediately prior to the record date.

 

(d)
Notice of Adjustment. Upon any adjustment of the Stock Purchase Price or any increase or decrease in the number of
shares purchasable upon the exercise of this Warrant, the Company shall give notice to the Holder. The notice shall state the
Stock Purchase Price resulting from such adjustment and the increase or decrease, if any, in the number of shares purchasable
upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which the calculation
is based.

 

(e)
Other Notices. If at any time: (1) the Company declares any cash dividend upon its shares of Class A Stock; (2) there
is any capital reorganization or reclassification of the capital stock of the Company; (3) the Company is acquired in an all cash
transaction; or (4) there is a voluntary or involuntary dissolution, liquidation or winding-up of the Company, then the Company
notice to the Holder (a) at least ten days prior to the date on which the books of the Company will close, or the record date
for the dividend, cash payment or for determining rights to vote in respect of any the reorganization or reclassification, and
(b) if a reorganization or reclassification, at least ten days prior to the date when the same shall take place.

 

    	 	 	 

    	 

    

 

5.
No Voting or Dividend Rights. Nothing contained in this Warrant shall be construed as conferring upon the Holder the
right to vote or to consent to receive notice as a stockholder of the Company or any other matters or any rights whatsoever as
a stockholder of the Company prior to the exercise of this Warrant. No dividends or interest shall be payable or accrued in respect
of this Warrant or the interest represented hereby or the shares purchasable hereunder until, and only to the extent that, this
Warrant is exercised.

 

6.
Transfer. Subject to compliance with applicable federal and state securities laws, this Warrant and all rights hereunder
may only be transferred with the consent of the Company.

 

7.
Transfer Taxes. The issuance of any shares or other securities upon the exercise of this Warrant, and the delivery
of certificates or other instruments representing the shares or other securities, shall be made without charge to the Holder for
any transfer taxes. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer
involved in the issuance and delivery of any certificate in a name other than that of the Holder and the Company shall not be
required to issue or deliver any certificate unless and until the person or persons requesting the issuance thereof shall have
paid to the Company the amount of the tax or shall have established to the satisfaction of the Company that the tax has been paid.

 

8.
Lost or Mutilated Warrants. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction,
or mutilation of this Warrant and, in the case of any loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory
to the Company, or in the case of any mutilation upon surrender and cancellation of the Warrant, the Company, at its expense,
will make and deliver a new Warrant, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant.

 

9.
Modification and Waiver. Any term of this Warrant may be amended by a writing signed by the Company and the Holder.
The observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively
or prospectively) only by a writing signed by the party against whom the waiver is to be enforced.

 

10.
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced
hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns
of the Holder.

 

12.
Severability. Wherever possible, each provision of this Warrant shall be interpreted to be effective and valid under
applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, the provision shall
be ineffective to the extent of the prohibition or invalidity, without invalidating the remainder of the provisions or the remaining
provisions of this Warrant.

 

13.
Notices. All notices, requests and other communications hereunder shall be in writing and shall be given and shall
be delivered personally or via a messenger service (notice given upon receipt), or mailed with confirming e-mail (notice deemed
given upon earlier of e-mail receipt or receipt of hard copy) to the party’s corporate address or other address on record
with the other parties.

 

14.
Governing Law. This Warrant is to be construed in accordance with and governed by the laws of the State of Delaware
without regard to its principles of conflicts of laws.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as of the date first above written.

 

	 	PEN
    Inc.
	 	 	 
	 	By:	 
	 	 	Scott
    E. Rickert, Chairman

 

    	 	 	 

    	 

    

 

	TO:
    	PEN
    Inc.
	 	701
    Brickell Ave., Suite 1550
	 	Miami,
    Florida 33131
	 	Attn:
    Secretary

 

Via
e-mail: jrickert@pen-technology.com

 

The
undersigned hereby irrevocably elects to purchase shares of Class A common stock of PEN Inc under the terms of that Warrant originally
issued to _____________ on _________________, 2018 (the “Warrant”) and tenders payment under the Warrant as
follows:

 

Number
of shares being purchased:                  ______________

 

Payment
of $____________

 

Capitalized
terms not defined in this notice have the meanings set forth in the Warrant. This notice is being sent by facsimile to the number
and officer identified above and by e-mail to the address noted above.

 

If
this notice represents the full exercise of the outstanding balance of the Warrant, either the Holder has previously surrendered
the Warrant to the Company or will surrender the Warrant to the Company within ten trading days after delivery of the shares.

 

The
address of the Holder to be shown on the records of the Company is:

 

_______________________________________________________

 

The
Tax ID number of the Holder is: _______________________

E-mail
address for notices: _____________________________

Date
of notice _________________________

 

Name of Holder: ___________________________

   

By:
________________________     

 

    	 	 	 

    	 

    

 

ACKNOWLEGEMENT

Of
Remaining Warrant Shares

 

TO:
[Holder]

 

Under
the terms of that Warrant originally issued to _____________ on ________ 2018 (the “Warrant”) the Company hereby
confirms that the remaining Warrant Shares following the Notice of Warrant Exercise dated _______________ are:

 

	 	PEN
    Inc.
	 	 	 
	 	By:Exhibit
4.10

 

Registration
Rights Agreement

 

This
is the Registration Rights Agreement by and between PEN Inc., a Delaware corporation (the “Company”) and PEN
Comeback 2 LLC, a Michigan limited liability company (“Investor”), dated September 6, 2019.

 

1.
Registrations Rights. If the exercise by the Investor of the Warrants provides proceeds to the Company of $1 million or
more, then the Investor shall have the right to demand that the Company effect one registration under the Securities Act of all
or a portion of the Shares purchased under its Subscription Agreement of even date with this Agreement and shares acquired pursuant
to the Securities Offered (the “Registrable Shares”). The demand for registration shall be in writing and will
specify the number of Registrable Shares to be registered and the intended method for disposition of the shares. The registration
shall be accomplished in accordance with the provisions of the Registration Procedures set forth in Annex A. The terms “Warrants
s,” and “Securities Offered” have the meaning given those terms in the Subscription Agreement between Investor
and the Company of even date with this Agreement.

 

2. Waiver
of Jury Trial. THE INVESTOR IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING
UNDER, OR ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY, THIS AGREEMENT.

 

3. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without
giving effect to its principles of conflicts of laws.

 

4. Counterparts;
Electronic Execution. This Agreement may be executed in any number of counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement.
Facsimile, “PDF” or other electronic transmission, execution or delivery of this Agreement or a counterpart
thereof is legal, valid and binding.

 

5. Notices. All
notices and other communications under this Agreement will be (i) in writing, (ii) sent to to the address as most
recently specified by notice to the other party, (iii) will be duly given upon receipt if delivered personally or on the 2d
business day after deposit with a national overnight delivery service, postage pre-paid with next day delivery guaranteed,
(iv) confirmed by an e-mail to each person to whom the communication was addressed with a copy of the communication
sent.

 

6. Entire
Agreement, Waiver, Amendment. This Agreement is the entire agreement between Investor and the Company with respect to
registration of securities of the Company. This Agreement may not be modified, changed, discharged or terminated except by an
instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.

 

7. Binding
Effect. The provisions of this Agreement shall be binding upon and accrue to the benefit of the parties hereto and
their respective heirs, legal representatives, successors and assigns.

 

8. Severability. If
any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render
unenforceable such term or provision in any other jurisdiction.

 

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

 

	 	Name:	PEN
    Comeback, LLC
	 	By:	PEN
    Comeback Manager, LLC, its Manager
	 	 	 
	 	By	/s/
Tom J Berman
	 	Name:	Tom
    J. Berman, Manager

 

	 	PEN
    Inc.
	 	 
	 	By	/s/
    Scott E Rickert
	 	 	Scott
    E. Rickert, Chairman & CEO

 

    	 	 	 

    	 

    

 

Registration
Procedures

 

A1.
Company Obligations. PEN Comeback 2, LLC (the “LLC”) may demand one registration under its Registration
Rights Agreement dated September 6, 2019 and upon receipt of the written request from the LLC the Company will, as expeditiously
as possible:

 

		a.	prepare
                                         and file with the Securities and Exchange Commission a registration statement with respect
                                         to the Registrable Shares identified in the demand on any form selected by counsel for
                                         the Company that is available for the sale of the Registrable Shares by the intended
                                         method of distribution and use commercially reasonable efforts including the preparation
                                         and filing of amendments and supplements to the registration statement and the prospectus
                                         used in connection therewith to cause the registration statement to become effective
                                         and remain effective for a period of not less than 90 days (or for a shorter period as
                                         required for the actual sale of the shares registered).
	 	 	 
		b.	if
                                         requested, furnish to the LLC and underwriter, if any, within a reasonable period of
                                         time prior to filing any registration statement or prospectus or any amendments or supplements
                                         thereto, the Company will furnish to one counsel selected by LLC copies of all the documents
                                         proposed to be filed, which documents will be subject to review of such counsel and the
                                         Company shall use all reasonable efforts to comply with any request to modify the information
                                         pertaining to the LLC except that the Company shall have no obligation to modify any
                                         information if so doing would cause the prospectus to contain an untrue statement of
                                         fact or omit to state any material fact required to be stated therein or necessary to
                                         make the statements therein (in light of the circumstances under which they were made)
                                         not misleading.;
	 	 	 
		c.	furnish
                                         to the LLC that number of copies of the registration statement, each amendment and supplement
                                         thereto, the prospectus included in the registration statement (including each preliminary
                                         prospectus), and the other documents as the LLC may reasonably request to cause the disposition
                                         of the Registrable Shares;
	 	 	 
		d.	use
                                         commercially reasonable efforts to register or qualify the Registrable Shares under the
                                         other securities or blue sky laws of the jurisdictions as the LLC reasonably requests
                                         and do any and all other acts and things which may be reasonably necessary or advisable
                                         to consummate the disposition in those jurisdictions of the Registrable Shares owned
                                         by the LLC (except that the Company will not be required to (i) qualify generally to
                                         do business in any jurisdiction where it would not otherwise be required to qualify but
                                         for this subsection, (ii) subject itself to taxation in any jurisdiction, or (iii) consent
                                         to general service of process in any jurisdiction);
	 	 	 
		e.	notify
                                         the LLC, at any time when a prospectus relating to any Registrable Shares is required
                                         to be delivered under the Securities Act of 1933 (the “Securities Act”),
                                         upon discovery that, or upon the discovery of the happening of any event as a result
                                         of which, the prospectus included in the registration statement contains an untrue statement
                                         of a material fact or omits any fact necessary to make the statements therein not misleading
                                         in the light of the circumstances under which they were made, and, at the request of
                                         the LLC , the Company will prepare and furnish to the LLC a reasonable number of copies
                                         of a supplement or amendment to the prospectus so that, as thereafter delivered to the
                                         purchasers of the Registrable Shares, the prospectus will not contain an untrue statement
                                         of a material fact or omit to state any fact necessary to make the statements therein
                                         not misleading in the light of the circumstances under which they were made; provided,
                                         however, that at any time, upon written notice to the LLC and until the LLC receives
                                         copies of the supplemented or amended prospectus, this period not to exceed 60 days (the
                                         “Suspension Period”), the Company may suspend the use or effectiveness
                                         of any registration statement (and the LLC agrees not to offer or sell any Registrable
                                         Shares pursuant to the registration statement during the Suspension Period) if the Company
                                         reasonably believes that there is or may be in existence material nonpublic information
                                         or events involving the Company, the failure of which to be disclosed in the prospectus
                                         included in the registration statement could constitute a material misstatement or omission.
                                         If the Company exercises its right to delay or suspend the use or effectiveness of a
                                         registration hereunder, the time during which the registration statement is to remain
                                         effective shall be extended by a period equal to the duration of the Suspension Period.
                                         The Company may extend the Suspension Period for an additional consecutive 60 days with
                                         the consent of the LLC, which shall not be unreasonably withheld. If so directed by the
                                         Company, the LLC shall (i) not offer to sell any Registrable Shares pursuant to the registration
                                         statement during the period in which the delay or suspension is in effect after receiving
                                         notice of the delay or suspension and (ii) use commercially reasonable efforts to deliver
                                         to the Company (at the Company’s expense) all copies, other than permanent file
                                         copies then in the LLC’ possession, of the prospectus relating to the Registrable
                                         Shares current at the time of receipt of the notice;

 

    	 	 	 

    	 

    

 

		f.	use
                                         commercially reasonable efforts to cause all the Registrable Shares to be listed on each
                                         securities exchange on which similar securities issued by the Company are then listed
                                         and, if not so listed, to be listed on a securities exchange and, without limiting the
                                         generality of the foregoing, to arrange for at least two market makers to register as
                                         such with respect to the Registrable Shares with the Financial Industry Regulatory Authority
                                         (“FINRA”);
	 	 	 
		g.	enter
                                         into customary agreements (including underwriting agreements in customary form) and take
                                         all other actions as the LLC or the underwriters, if any, reasonably request to expedite
                                         or facilitate the disposition of the Registrable Shares except that the board of the
                                         Company shall select, any underwriter for any underwritten offering subject to the approval
                                         of the LLC which will not be unreasonably withheld;
	 	 	 
		h.	make
                                         available for inspection by the a representative of the LLC (the “LLC’s
                                         Representative”), any underwriter participating in any disposition pursuant
                                         to the registration statement, and one counsel retained by the LLC’s Representative
                                         or any underwriter, all financial and other records, pertinent corporate and business
                                         documents and properties of the Company as shall be necessary to enable them to exercise
                                         their due diligence responsibility, and cause the Company’s officers, directors,
                                         employees, agents, representatives, and independent accountants to supply all the information
                                         reasonably requested by the LLC or any underwriter, attorney, accountant, or agent in
                                         connection with the registration statement;
	 	 	 
		i.	otherwise
                                         use its commercially reasonable efforts to comply with all applicable rules and regulations
                                         of the Securities and Exchange Commission, and make available to its security holders,
                                         as soon as reasonably practicable, an earnings statement covering the period of at least
                                         12 months, beginning with the first day of the Company’s first full calendar quarter
                                         after the effective date of the registration statement, which earnings statement shall
                                         satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;
	 	 	 
		j.	use
                                         commercially reasonable efforts to cause the Registrable Shares covered by the registration
                                         statement to be registered with or approved by other governmental agencies or authorities
                                         as may be necessary to enable the sellers thereof to consummate the disposition of the
                                         Registrable Shares;
	 	 	 
		k.	use
                                         commercially reasonable efforts to obtain an opinion from the Company’s outside
                                         counsel in customary form and covering matters of the type customarily covered by such
                                         opinions, which opinion shall be addressed to the underwriters and the LLC;
	 	 	 
		l.	cooperate
                                         with the LLC and each underwriter or agent participating in the disposition of the Registrable
                                         Shares and their respective counsel in connection with any filings required to be made
                                         with the FINRA; and

 

A2.
Obligations of the LLC. The LLC agrees to: (i) promptly furnish in writing to the Company information regarding the distribution
of the Registrable Shares as the Company may from time to time reasonably request, (ii) provide other information as may be legally
required in connection with the registration, and (iii) take such other actions as reasonably necessary under the circumstances.
The LLC will, upon receiving notice under section A1e to forthwith discontinue disposition of Registrable Shares until it receives
copies of the supplemented or amended prospectus.

 

A3.
Registration Expenses. All expenses incident to the filing of the registration statement and to the Company’s
performance of or compliance with this Agreement (all these expenses being herein called “Registration Expenses”)
shall be borne or paid by the Company, including, without limitation, all registration and filing fees, fees and expenses of compliance
with securities or blue sky laws, printing expenses, messenger and delivery expenses, fees and disbursements of custodians, fees
and disbursements of counsel for the Company, and all independent certified public accountants, and other persons retained by
the Company except for the underwriters (except to the extent that any registered shares are being sold for the account of the
Company), including, without limitation, the Company’s internal expenses (e.g., salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability
insurance, and the expenses and fees for listing the securities to be registered on each securities exchange on which similar
securities issued by the Company are then listed or, if none are so listed, on a securities exchange. The Company shall not be
responsible for any discounts, commissions, transfer taxes or other fees or expenses incurred by the LLC or underwriters in connection
with the sale of the Registrable Shares.

 

    	 	 	 

    	 

    

 

A4.
Holdback Agreements.

 

		a)	The
                                         LLC agrees, and agrees to require its members, not to effect any public sale or distribution
                                         (including sales pursuant to Rule 144) of equity securities of the Company, or any securities,
                                         options, or rights convertible into or exchangeable or exercisable for such securities,
                                         during the Applicable Period (except as part of the underwritten registration), unless
                                         any underwriters managing a registered, underwritten public offering otherwise agree.
                                         If requested by the Company, the LLC agrees to execute customary lock-up agreements with
                                         the managing underwriter(s) of an underwritten offering with a duration not to exceed
                                         the Applicable Period in the form as reasonably agreed to by the LLC. The “Applicable
                                         Period” shall begin seven days before and continue for 180 days following the
                                         effective date of the registration statement for the initial public offering of the Company’s
                                         equity securities and shall begin seven days before and continue for 90 days following
                                         the effective date of the registration statement for any other underwritten public offering
                                         of the Company’s equity securities.
	 	 	 
		b)	The
                                         Company agrees not to effect any public sale or distribution of its equity securities,
                                         or any securities convertible into or exchangeable or exercisable for such securities,
                                         during the Applicable Period (except as part of the underwritten registration or pursuant
                                         to registrations on Form S-4 or S-8 or any successor form), unless any underwriters managing
                                         the registered, underwritten public offering otherwise agree.

 

A5.
Indemnification.

 

		a)	The
                                         Company agrees to indemnify and hold harmless, to the full extent permitted by law, the
                                         LLC and its officers, directors, and members and each person who controls the LLC (within
                                         the meaning of the Securities Act) against any and all losses, claims, damages, liabilities,
                                         joint or several, together with reasonable costs and expenses (including reasonable attorney’s
                                         fees), to which the indemnified party may become subject under the Securities Act or
                                         otherwise, insofar as the losses, claims, damages, or liabilities (or actions or proceedings,
                                         whether commenced or threatened, in respect thereof) arise out of, are based upon, are
                                         caused by, or result from (i) any untrue or alleged untrue statement of material fact
                                         contained (A) in any registration statement, prospectus, or preliminary prospectus or
                                         any amendment thereof or supplement thereto covered by these Registration Procedures,
                                         or (B) in any application or other document or communication (in this Section 6 collectively
                                         called an “application”) executed by or on behalf of the Company or
                                         based upon written information furnished by or on behalf of the Company filed in any
                                         jurisdiction in order to qualify any securities covered by the registration statement
                                         under the “blue sky” or securities laws thereof, or (ii) any omission or
                                         alleged omission of a material fact required to be stated therein or necessary to make
                                         the statements therein not misleading, and the Company will reimburse the LLC and each
                                         director, officer, member, and controlling person for any legal or any other expenses
                                         incurred by them in connection with investigating or defending any such loss, claim,
                                         liability, action, or proceeding; provided, however, that the Company shall not be liable
                                         in any case to the extent that any loss, claim, damage, liability (or action or proceeding
                                         in respect thereof), or expense arises out of, is based upon, is caused by, or results
                                         from an untrue statement or alleged untrue statement, or omission or alleged omission,
                                         made in the registration statement, any prospectus or preliminary prospectus or any amendment
                                         or supplement thereto, or in any application, in reliance upon, and in conformity with,
                                         written information prepared and furnished to the Company by the LLC or other indemnified
                                         party expressly for use therein or by the LLC’s failure to deliver a copy of the
                                         registration statement or prospectus or any amendments or supplements thereto after the
                                         Company has furnished the LLC with a sufficient number of copies of the same.
	 	 	 
		b)	In
                                         connection with any registration statement in which the LLC are participating, the LLC
                                         will furnish to the Company in writing the information and affidavits as the Company
                                         reasonably requests for use in connection with any the registration statement or prospectus
                                         and, to the full extent permitted by law, will indemnify and hold harmless the Company,
                                         and its directors, officers, members, agents, and employees and each other person who
                                         controls the Company (within the meaning of the Securities Act) against any losses, claims,
                                         damages, liabilities, joint or several, together with reasonable costs and expenses (including
                                         reasonable attorney’s fees), to which the indemnified party may become subject
                                         under the Securities Act or otherwise, insofar as the losses, claims, damages, or liabilities
                                         (or actions or proceedings, whether commenced or threatened) arise out of, are based
                                         upon, are caused by, or result from (i) any untrue or alleged untrue statement of material
                                         fact contained in the registration statement, prospectus or preliminary prospectus or
                                         any amendment thereof or supplement thereto or in any application, or (ii) any omission
                                         or alleged omission of a material fact required to be stated therein or necessary to
                                         make the statements therein not misleading, but only to the extent that the untrue statement
                                         or omission is made in the registration statement, any prospectus or preliminary prospectus
                                         or any amendment or supplement thereto, or in any application, in reliance upon and in
                                         conformity with written information prepared and furnished to the Company by the LLC
                                         expressly for use therein.

 

    	 	 	 

    	 

    

 

		c)	Any
                                         person entitled to indemnification hereunder will (i) give prompt written notice to the
                                         indemnifying party of any claim with respect to which it seeks indemnification (provided
                                         that the failure to give prompt notice shall not impair any person’s right to indemnification
                                         hereunder to the extent the failure has not prejudiced the indemnifying party), and (ii)
                                         unless in the indemnified party’s reasonable judgment a conflict of interest between
                                         the indemnified and indemnifying parties may exist with respect to the claim, permit
                                         the indemnifying party to assume the defense of the claim with counsel reasonably satisfactory
                                         to the indemnified party. If the defense is assumed, the indemnifying party will not
                                         be subject to any liability for any settlement made by the indemnified party without
                                         its consent (but consent will not be unreasonably withheld, conditioned or delayed).
                                         An indemnifying party who is not entitled to, or elects not to, assume the defense of
                                         a claim will not be obligated to pay the fees and expenses of more than one counsel for
                                         all parties indemnified by the indemnifying party with respect to the claim, unless in
                                         the reasonable judgment of any indemnified party a conflict of interest may exist between
                                         the indemnified party and any other of the indemnified parties with respect to the claim.
	 	 	 
		d)	The
                                         indemnifying party shall not, except with the approval of each indemnified party, consent
                                         to entry of any judgment or enter into any settlement which does not include as an unconditional
                                         term thereof the giving by the claimant or plaintiff to each indemnified party of a release
                                         from all liability in respect to the claim or litigation without any payment or consideration
                                         provided by the indemnified party.
	 	 	 
		e)	If
                                         the indemnification provided for in this Section A5 is unavailable to, or is insufficient
                                         to hold harmless, an indemnified party under the provisions above in respect to any losses,
                                         claims, damages, or liabilities referred to therein, then each indemnifying party shall
                                         contribute to the amount paid or payable by the indemnified party as a result of the
                                         losses, claims, damages, or liabilities in such proportion as is appropriate to reflect
                                         the relative fault of the Company on the one hand and of the LLC on the other hand in
                                         connection with the registration statement in connection with the statement or omissions
                                         which resulted in the losses, claims, damages, or liabilities, as well as any other relevant
                                         equitable considerations. The relative fault of the Company on the one hand and of the
                                         LLC on the other hand shall be determined by reference to, among other things, whether
                                         the untrue or alleged omission to state a material fact relates to information supplied
                                         by or relating to the Company or whether it relates to information supplied by or relating
                                         to the LLC and the parties’ relative intent, knowledge, access to information,
                                         and opportunity to correct or prevent the statement or omission.
	 	 	 
		f)	The
                                         Company and the LLC agree that it would not be just and equitable if contribution pursuant
                                         to this Section A5 were determined by pro rata allocation or by any other method of allocation
                                         which does not take account of the equitable considerations referred to in the immediately
                                         preceding paragraph. The amount paid or payable by an indemnified party shall include,
                                         subject to the limitations set forth above, any legal or other expenses reasonably incurred
                                         by the indemnified party in connection with investigating or defending any action or
                                         claim. No person guilty of fraudulent misrepresentation (within the meaning of Section
                                         11(f) of the Securities Act) shall be entitled to contribution from any person who was
                                         not guilty of fraudulent misrepresentation.
	 	 	 
		g)	The
                                         indemnification and contribution provided for under this Section A5 is in addition to
                                         any other rights to indemnification or contribution which any indemnified party may have
                                         pursuant to law or contract and will remain in full force and effect regardless of any
                                         investigation made or omitted by or on behalf of the indemnified party or any officer,
                                         director, employee or controlling person of the indemnified party and will survive the
                                         transfer of securities.

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