Document:

Exhibit 10.10

 

THIS
WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).
THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH
SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

TANDON
DIGITAL, INC. 

 

WARRANT
TO PURCHASE COMMON STOCK

 

	No. CS-W-1	August 18,  2015

Void After August 17, 2025

 

This
Certifies That, for value received, Noel Lee, or his assigns, (the “Holder”) is entitled to subscribe
for and purchase at the Exercise Price (defined below) from Tandon Digital, Inc.,
a Delaware corporation, (the “Company”), up to 2,840,779 shares of the Company’s common stock (the “Common
Stock”).

 

1.          Certain
Definitions. As used herein, the following terms shall have the following respective meanings:

 

1.1           “Asset
Transfer” shall mean the sale, lease or other disposition of all, or substantially, all the assets of the Company in
one or a series of transactions to any person or entity other than a wholly owned subsidiary of the Company.

 

1.2           “Exclusive
License” shall mean the grant of an exclusive license to all, or substantially all, of the Company’s intellectual
property that is used to generate all, or substantially all, of the Company’s revenues to any person or entity other than
a wholly owned subsidiary of this Company.

 

1.3           “Exercise
Period” shall mean the period commencing with the date hereof and ending on the earlier to occur of: (i) the 10-year
anniversary of the date hereof, (ii) an Asset Transfer, or (iii) the date of the closing of the initial public offering of the
Company’s Common Stock pursuant to a registration statement under the Act, (such offering, the “IPO”),
or two days preceding the closing date of any reorganization, consolidation or merger of the Company, or any simultaneous sale
of more than a majority of the then-outstanding securities of the Company other than a mere reincorporation transaction (an “Acquisition”)
(such earlier date, the “Termination Date”).

 

1.4           “Exercise
Price” shall mean $1.00 per share, subject to adjustment pursuant to Section 5 below.

 

1.5           “Exercise
Shares” shall mean the shares of the Common Stock issuable upon exercise of this Warrant, subject to adjustment pursuant
to the terms herein, including but not limited to adjustment pursuant to Section 5 below.

 

    	 	 	 

     

    

 

2.          Exercise
of Warrant. 

 

2.1           Generally.
The rights represented by this Warrant may be exercised in whole or in part at any time or from time to time during the Exercise
Period by delivery of the following to the Company at its principal office (or at such other address as it may designate by notice
in writing to the Holder): (i) an executed Notice of Exercise in the form attached hereto; (ii) payment of the Exercise Price either
by cancellation of indebtedness or in cash, check or wire transfer of immediately available funds; and (iii) this Warrant.

 

2.2           Issuance
of Certificates. Upon the exercise of the rights represented by this Warrant, a certificate or certificates for the Exercise
Shares so purchased, registered in the name of the Holder or persons affiliated with the Holder, if the Holder so designates, shall
be issued and delivered to the Holder within a reasonable time after the rights represented by this Warrant shall have been so
exercised. The person in whose name any certificate or certificates for Exercise Shares are to be issued upon exercise of this
Warrant shall be deemed to have become the holder of record of such shares on the date on which this Warrant was surrendered and
payment of the Exercise Price was made, irrespective of the date of delivery of such certificate or certificates, except that,
if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall
be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer
books are open.

 

2.3           Net
Exercise. Notwithstanding any provisions herein to the contrary, if the fair market value of one share of Common Stock is greater
than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Warrant by payment of cash
or cancellation of indebtedness, the Holder may elect to receive shares equal to the value (as determined below) of this Warrant
(or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the properly
endorsed Notice of Exercise in which event the Company shall issue to the Holder a number of shares of Common Stock, computed using
the following formula:

 

	 	X = Y (A-B)	 
	 	A	 

 

	Where X =	 	the number of shares of Common Stock to be issued to the Holder
	 	 	 
	Y =	 	the number of shares of Common Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation)
	 	 	 
	A =	 	the fair market value of one share of Common Stock (at the date of such calculation)
	 	 	 
	B =	 	Exercise Price (as adjusted to the date of such calculation)

 

For purposes of the above
calculation, the fair market value of one share of the Common Stock as determined in good faith by the Board of Directors of the
Company.

 

2.4           Automatic
Net Exercise Events. If Holder does not elect to exercise in full this
Warrant during the Exercise Period, this Warrant shall be automatically net exercised in full in accordance with the provisions
of Section 2.3 above immediately prior to the expiration of this Warrant on the Termination Date.

 

    	 	2	 

     

    

3.          Covenants
of the Company.

 

3.1           Covenants
as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and free
from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company
will at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of
shares of its Common Stock to provide for the exercise of the rights represented by this Warrant. If at any time during the Exercise
Period the number of authorized but unissued shares of Common Stock shall not be sufficient to permit exercise of this Warrant,
the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient for such purposes.

 

3.2           No
Impairment. Except and to the extent as waived or consented to by the Holder, the Company will not, by amendment of its Certificate
of Incorporation, as amended, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed
or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of
this Warrant and in the taking of all such action as may be necessary or appropriate in order to protect the exercise rights of
the Holder against impairment.

 

3.3           Notices
of Record Date. In the event of any taking by the Company of a record of the holders of any class of securities for the purpose
of determining the holders thereof who are entitled to receive any dividend (other than a cash dividend which is the same as cash
dividends paid in previous quarters) or other distribution, the Company shall mail to the Holder, at least 10 days prior to the
date specified herein, a notice specifying the date on which any such record is to be taken for the purpose of such dividend or
distribution.

 

4.          Representations
of Holder.

 

4.1           Acquisition
of Warrant for Personal Account. The Holder represents and warrants that it is acquiring this Warrant and the Exercise Shares
solely for its account for investment and not with a view to or for sale or distribution of this Warrant or Exercise Shares or
any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares
the Holder is acquiring is being acquired for, and will be held for, its account only.

 

4.2           Securities
Are Not Registered.

 

(a)          The
Holder understands that the Warrant and the Exercise Shares have not been registered under the Act on the basis that no distribution
or public offering of the stock of the Company is to be effected. The Holder realizes that the basis for the exemption may not
be present if, notwithstanding its representations, the Holder has a present intention of acquiring the securities for a fixed
or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in,
or otherwise distributing the securities. The Holder has no such present intention.

 

    	 	3	 

     

    

 

(b)          The
Holder recognizes that the Warrant and the Exercise Shares must be held indefinitely unless they are subsequently registered under
the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to register
the Warrant or the Exercise Shares of the Company, or to comply with any exemption from such registration.

 

(c)          The
Holder is aware that neither the Warrant nor the Exercise Shares may be sold pursuant to Rule 144 adopted under the Act unless
certain conditions are met, including, among other things, the existence of a public market for the shares, the availability of
certain current public information about the Company, the resale following the required holding period under Rule 144 and the number
of shares being sold during any three month period not exceeding specified limitations. Holder is aware that the conditions for
resale set forth in Rule 144 have not been satisfied and that the Company presently has no plans to satisfy these conditions in
the foreseeable future.

 

(d)          The
Holder recognizes that the exercise of the Warrant and any ultimate resale of the Exercise Shares involves a high degree of risk
in that (i) the Company will need additional capital to operate its business but has no assurance of additional necessary capital;
(ii) an investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should
consider investing in the Company and the Exercise Shares; (iii) an investor may not be able to liquidate his, her or its investment;
(iv) transferability of the Exercise Shares is extremely limited; (v) an investor could sustain the loss of his, her or its entire
investment; and (vi) the Company is and will be subject to numerous other risks and uncertainties, including without limitation,
significant and material risks relating to the Company’s business and risks associated with any start-up operation.

 

(e)          The
Holder represents that he is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated
under the Act, and that it is able to bear the economic risk of an investment in the Exercise Shares.

 

(f)          The
Holder acknowledges that he has prior investment experience, including without limitation, investment in non-listed and non-registered
securities, or he has employed the services of an investment advisor, attorney or accountant to read all of the documents furnished
or made available by the Company and to evaluate the merits and risks of such an investment on its behalf, and that it recognizes
the highly speculative nature of this investment.

 

(g)          The
Holder acknowledges and hereby represents that he has been furnished or given access by the Company with or to all information
regarding the Company which it had requested or desired to know; that all documents which could be reasonably provided have been
made available for its inspection and review; that it has been afforded the opportunity to ask questions of and receive answers
from duly authorized representatives of the Company concerning the terms and conditions of this Warrant, and any additional information
which it had requested. The Holder further represents and acknowledges that the Holder has not seen or received any advertisement
or general solicitation with respect to the sale of any of the securities of the Company.

 

    	 	4	 

     

    

 

(h)          The
Holder acknowledges that this issuance of this Warrant and the exercise of the Warrant and ultimate resale of the Exercise Shares
may involve tax consequences, and that it must retain its own professional advisors to evaluate the tax and other consequences
of its receipt of the Warrant.

 

4.3           Market
Stand-Off. The Holder hereby agrees that the Holder shall not sell, transfer, make any short sale of, grant any option
for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale of, any Common Stock
(or other securities) of the Company held by such Holder before the effective date of the registration statement for the first
firm commitment underwritten public offering of its Common Stock registered under the Securities Act (the “Initial Offering”)
for a period specified by the representative of the underwriters of Common Stock of the Company not to exceed one hundred eighty
(180) days following the effective date of the Initial Offering, which period may be extended up to an additional 18 days to enable
the underwriter(s) to comply with NASD Rule 2711(f)(4), or the applicable successor FINRA rule when published, if applicable to
the Initial Offering; provided that all officers and directors of the Company, and their respective Affiliates, and all holders
of at least five percent (5%) of the Company’s voting securities enter into similar agreements; and provided, further that
any releases from such agreements by the underwriters shall be made only on a pro rata basis.

 

4.4           Legend.
The Holder understands and agrees that all certificates evidencing the shares to be issued to the Holder may bear the following
legend:

 

THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

5.          Adjustment
of Exercise Price. In the event of changes in the outstanding Common Stock by reason of stock dividends, stock splits,
recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like,
the number and class of shares available under this Warrant in the aggregate and the Exercise Price shall be correspondingly adjusted
to give the Holder Warrant, on exercise for the same aggregate Exercise Price, the total number, class, and kind of shares as the
Holder would have owned had this Warrant been exercised prior to the event and had the Holder continued to hold such shares until
after the event requiring adjustment. The form of this Warrant need not be changed because of any adjustment in the number of Exercise
Shares subject to this Warrant.

 

    	 	5	 

     

    

 

6.          Fractional
Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant
hereto. All Exercise Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in
the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled
to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of an Exercise
Share by such fraction.

 

7.          No
Stockholder Rights. This Warrant in and of itself shall not entitle the Holder to any voting rights or other rights
as a stockholder of the Company.

 

8.          Transfer
of Warrant. This Warrant and all rights hereunder are transferable, in whole only, upon the prior written consent of
the Company, by the Holder in person or by duly authorized attorney, upon delivery of this Warrant and the form of assignment attached
hereto to any transferee designated by Holder. The transferee shall sign an investment letter in form and substance satisfactory
to the Company.

 

9.          Lost,
Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on
such terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the
surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or destroyed.
Any such new Warrant shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen,
mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

10.         Modification
and Waiver. Any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either
generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company
and the Holder.

 

11.         Notices.

 

11.1         Generally.
All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal
delivery to the party to be notified, (ii) five days after having been sent by registered or certified mail, return receipt
requested, postage prepaid, or (iii) one day after deposit with a nationally recognized overnight courier, specifying next
day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the
signature page, or at such other address as the Company or Holder may designate by 10 days advance written notice to the other
parties hereto.

 

11.2         Required
Notices. If at any time during the Exercise Period, the Company: (i) declares any dividend upon the Common Stock; (ii) effects
any capital reorganization or reclassification of its capital stock, (iii) consummates an Acquisition; (iv) consummates an Asset
Transfer, (v) closes its Initial Offering, or (vi) any voluntary or involuntary liquidation, dissolution or winding up of the Company,
then the Company shall provide Holder with at least 20 days prior written notice of such corporate action.

 

    	 	6	 

     

    

 

12.         Acceptance.
Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions
contained herein.

 

13.         Governing
Law; Venue. This Warrant is to be construed in accordance with and governed by the internal laws of the State of California
without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the
internal laws of the State of California to the rights and duties of the parties. All disputes and controversies arising out of
or in connection with this Agreement shall be resolved exclusively by the state and federal courts located in Los Angeles County
in the State of California, and each party hereto agrees to submit to the jurisdiction of said courts and agrees that venue shall
lie exclusively with such courts.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 	7	 

     

    

 

In
Witness Whereof, the Company has caused this Warrant to be executed by its duly authorized officer as of August 18,
2015.

 

	 	TANDON DIGITAL, INC.
	 	 	 
	 	By:	/s/ Vivek Tandon

 

	 	Name:	Vivek Tandon

 

	 	Title:	President

 

    	 	8	 

     

    

 

NOTICE
OF EXERCISE

 

TO: TANDON DIGITAL,
INC.

 

(1)          ̈         The
undersigned hereby elects to purchase ________ shares of Common Stock of Tandon Digital, Inc. (the “Company”)
pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable
transfer taxes, if any.

 

 ̈         The
undersigned hereby elects to purchase ________ shares of Common Stock of the Company pursuant to the terms of the net exercise
provisions set forth in Section 2.3 of the attached Warrant, and shall tender payment of all applicable transfer taxes, if
any.

 

(2)         Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name
as is specified below:

 

	 	 	 
	 	(Name)	 
	 	 	 
	 	 	 
	 	 	 
	 	(Address)	 

 

(3)         The
undersigned represents that (i) the aforesaid shares of Common Stock are being acquired for the account of the undersigned for
investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present
intention of distributing or reselling such shares; (ii) the undersigned is aware of the Company’s business affairs and financial
condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision regarding its
investment in the Company; (iii) the undersigned is experienced in making investments of this type and has such knowledge and background
in financial and business matters that the undersigned is capable of evaluating the merits and risks of this investment and protecting
the undersigned’s own interests; (iv) the undersigned understands that the shares of Common Stock issuable upon exercise
of this Warrant have not been registered under the Securities Act of 1933, as amended (the “Act”), by reason
of a specific exemption from the registration provisions of the Act, which exemption depends upon, among other things, the bona
fide nature of the investment intent as expressed herein, and, because such securities have not been registered under the Act,
they must be held indefinitely unless subsequently registered under the Act or an exemption from such registration is available;
(v) the undersigned is aware that the aforesaid shares of Common Stock may not be sold pursuant to Rule 144 adopted under the Act
unless certain conditions are met and until the undersigned has held the shares for the number of years prescribed by Rule 144,
that among the conditions for use of the Rule is the availability of current information to the public about the Company and the
Company has not made such information available and has no present plans to do so; and (vi) the undersigned agrees not to make
any disposition of all or any part of the aforesaid shares of Common Stock unless and until there is then in effect a registration
statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement,
or the undersigned has provided the Company with an opinion of counsel satisfactory to the Company, stating that such registration
is not required.

 

    	 	1	 

     

    

 

	 	 	 
	 (Date)	 	(Signature)
	 	 	 
	 	 	 
	 	 	(Print name)

 

    	 	2	 

     

    

 

FORM
OF ASSIGNMENT

 

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

 

For
Value Received, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 

(Please Print)

 

	Address:	 

(Please Print)

 

Dated: __________, 20__

 

	Holder’s	 	 
	Signature:	 	 
	 	 	 
	Holder’s	 	 
	Address:	 	 

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations
and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing
Warrant.

 

    	 	1Exhibit 10.11

 

CONSULTING AGREEMENT

 

THIS
CONSULTING AGREEMENT (this "Agreement") is entered into by and between Tandon Digital, Inc., a Delaware
corporation (the “Company”, sometimes also referred to as “Tandon”), and David
H. Clarke, an individual ("Consultant"), effective as of the 7th day of May 2015 (the "Effective
Date").

 

recitals

 

A.           Consultant
has extensive experience in providing advisory, consumer marketing and management related services for businesses;

 

B.           The
Company desires to retain Consultant to advise the Company on conducting its business and to obtain from Consultant such services;
and

 

C.           The
Company and Consultant desire to memorialize and formalize the terms of their relationship on the terms and conditions set forth
herein.

 

In consideration of
the foregoing recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereby agree as follows:

 

AGREEMENT

 

1.            Engagement
as Consultant. The Company agrees to retain Consultant to act as an independent consultant to provide the Company with services
as a strategic adviser and consultant to the Company, including, but not limited to, matters with respect to business development,
brand development and guidance, strategic planning and presentations in support of Tandon’s business (collectively, the “Services”),
and Consultant agrees to provide such Services.

 

2.           Term.
The term (“Term”) of this Agreement shall commence on the date hereof
and shall continue unless terminated in accordance with Section 5 hereof.

 

3.           Consideration.

 

(a)          Share
Compensation. In consideration of the Services to be provided by Consultant, the Company shall issue to Consultant 1,250,000
shares of its common stock (the “Tandon Shares”. In addition, the Company
shall reimburse Consultant for reasonable travel and other expenses Consultant incurs in connection with performing the Services.
To obtain reimbursement, Consultant shall submit to the Chief Executive Officer of the Company an invoice describing expenses incurred
under this Agreement. Company shall provide any documentation requirements and any travel policy restrictions to Consultant in
writing in advance, or be foreclosed from relying on such requirements and restrictions to deny reimbursement. The Company shall
pay to Consultant invoiced amounts within thirty (30) days after the date of invoice. 

 

     

     

    

 

(b)          Investment
Representations, Acknowledgements and Understandings.

  

(i)          Consultant
acknowledges that the purchase of the Tandon Shares involves a high degree of risk in that (1) Tandon will need additional capital
to operate its business but has no assurance of additional necessary capital; (2) an investment in Tandon is highly speculative
and only investors who can afford the loss of their entire investment should consider investing in Tandon; (3) Consultant may not
be able to liquidate his investment; (4) transferability of the Tandon Stock is extremely limited; (5) Consultant could sustain
the loss of his entire investment; and (6) Tandon is and will be subject to numerous other risks and uncertainties, including without
limitation, significant and material risks relating to Tandon’s business and operations, and the industries, markets and
geographic regions in which Tandon competes;

 

(ii)         Consultant
acknowledges that he has prior investment experience, including without limitation, investment in non-listed and non-registered
securities, or he, has employed the services of an investment advisor, attorney or accountant to read all of the documents furnished
or made available by Tandon to him and to evaluate the merits and risks of such an investment on his behalf, and that he recognizes
the highly speculative nature of this investment.

 

(iii)        Consultant
hereby represents that he has been furnished or given access by Tandon with or to all information regarding Tandon and its financial
conditions and results of operations which he had requested or desired to know; that all documents which could be reasonably provided
have been made available for his inspection and review; that he has been afforded the opportunity to ask questions of and receive
answers from duly authorized representatives of Tandon which he had requested.

 

(iv)        Consultant
acknowledges that the purchase of the Tandon Shares involves tax consequences, and that he must retain his own professional advisors
to evaluate the tax and other consequences of an investment in the Tandon Shares.

 

(v)         Consultant
represents that the Tandon Shares are being purchased for his own account, for investment and not for distribution or resale to
others. Consultant agrees that he will not sell or otherwise transfer any of the Tandon Shares unless they are registered under
the Act or unless an exemption from such registration is available and, upon Tandon’s request, Tandon receives an opinion
of counsel reasonably satisfactory to Tandon confirming that an exemption from such registration is available for such sale or
transfer.

 

(vi)        Consultant
understands that Rule 144 (the “Rule”) promulgated under the Act requires, among other conditions, a six (6) month
holding period prior to the resale (in limited amounts) of securities acquired in a non-public offering without having to satisfy
the registration requirements under the Act. Consultant understands that Tandon makes no representation or warranty regarding its
fulfillment in the future of any reporting requirements under the Exchange Act, or its dissemination to the public of any current
financial or other information concerning Tandon, as is required by Rule 144 as one of the conditions of its availability.

 

(vii)       Consultant
understands that he certificates evidencing the Tandon Shares to be issued will bear the following legend:

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER
SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR (2) PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, IN WHICH CASE THE HOLDER
MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE COMPANY AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY
TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS,
OR (3) IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT, AND BASED ON AN OPINION OF COUNSEL,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT THE PROVISIONS OF REGULATION S HAVE BEEN SATISFIED.

 

    	 	-2-	 

     

    

 

(c)          Limitations
on Transfer. Other than as set forth below, the Consultant agrees that until January 10, 2017, he shall not: (a) sell, assign,
exchange, transfer, pledge, distribute or otherwise dispose of (i) any of the Tandon Shares, or (ii) any interest (including, without
limitation, an option to buy or sell) in any of the Tandon Shares, in whole or in part, and no such attempted transfer shall be
treated as effective for any purpose; or (b) engage in any transaction in respect to any of the Tandon Shares or any interest therein,
the intent or effect of which is the effective economic disposition of such shares. Notwithstanding the foregoing, the Consultant
may transfer Tandon Shares to any of the following (a “Transferee”): (i) by beneficiary designation,
will or intestate succession or (ii) to the Immediate Family (as defined below) of the Consultant or to a trust established
by the Consultant for the benefit of the Consultant or the Consultant ’s Immediate Family, provided in either case that the
Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Section 3(c) as though such
Transferee were the Consultant hereunder. For the purposes of this Agreement, the term “Immediate Family”
shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister.

 

4.            Nature
of Consultant's Relationship to the Company. 

 

(a)          Independent
Contractor Status. Consultant is an independent contractor and not an employee of the Company for any purpose whatsoever, including
state and federal taxes and workers' compensation insurance. Neither this Agreement, the relationship created between the parties
hereto pursuant to this Agreement, nor any course of dealing between the parties hereto is intended to create, or shall create,
an employment relationship, a joint venture, partnership or any similar relationship. Consultant does not have, nor shall Consultant
hold out Consultant as having, any right, power, or authority to create any contract or obligation, either express or implied,
on behalf of, in the name of, or binding upon the Company, or to pledge the Company's credit, or to extend credits in the name
of the Company.

 

(b)          Taxes.
The Company will not withhold any monies for any state, local or federal taxing authorities from compensation earned by Consultant
pursuant to this Agreement. 

 

(c)          Fringe
Benefits. Consultant shall receive no fringe benefits under this Agreement whatsoever, and accordingly, shall receive no insurance
benefits, disability income, vacation, holiday pay, sick pay, or any other similar benefits.

 

(d)          Workers'
Compensation and Other Insurance Coverage. The Company shall not provide workers' compensation coverage or any other insurance
coverage for Consultant. Any and all workers' compensation coverage or other insurance coverage shall be the sole responsibility
of Consultant. 

 

(e)          Hours.
The time devoted by Consultant to the performance of this Agreement shall be left to the sole discretion of Consultant. Consultant
shall not be required to work any specified hours or specified days.

 

    	 	-3-	 

     

    

  

5.           Term.

 

(a)          This
Agreement shall remain in effect for a term of one (1) year commencing on the date first written above, unless sooner terminated
as hereinafter provided, or unless extended by agreement of the parties.

 

(b)          This
Agreement may be terminated by either party, with or without cause, upon thirty (30) days prior written notice to the other; provided
that if Consultant terminates this Agreement, Consultant shall wind up in an orderly fashion assignments for the Company which
Consultant began prior to the date of notice of termination hereunder.

 

(c)          Upon
termination of this Agreement for any reason, Consultant shall be entitled to retain all compensation referenced in Section 3 herein,
such compensation having been deemed earned in full, and shall be entitled to receive such compensation and reimbursement, if any,
accrued under the terms of this Agreement, but unpaid, as of the date Consultant ceases work under this Agreement.

 

6.            Confidential
Information.

 

(a)          Definition
of Confidential Information. In the course of Consultant's performance of any Services for the Company, Consultant may have
access to and there may be disclosed to Consultant, information of a confidential nature and/or trade secrets that have great value
to the Company. Such information ("Confidential Information")
includes, but is not limited to, any written, oral and visual information relating to: ideas, concepts, designs, manufacturing
or market techniques, know-how, processes, techniques, formulas, data, costs, developments, works in progress, products, trade
secrets, computer programs, data bases, software and systems, customer lists, pricing and fee information, suppliers, business
plans or financial information; creations and technical information of the Company, or any of its clients, consultants or licensees;
or information acquired by Consultant from the Company's employees or agents or from the inspection of the Company's property and
information disclosed to the Company by third parties. Except for Consultant's relationship with the Company, Consultant hereby
acknowledges that Consultant would not otherwise have access to such Confidential Information.

 

(b)          Protection
of Confidential Information. During the Term and at any time thereafter, Consultant will keep all Confidential Information
in confidence and will not disclose any Confidential Information to any other person except (i) to the persons designated in writing
by the Chief Executive Officer of the Company, (ii) to the extent such disclosure may be required by law after consultation with
the Company's legal counsel and (iii) if such information at the time is generally known to the public through no breach of this
Agreement by Consultant or any breach by Consultant of any contractual or fiduciary duty. Consultant will not use any Confidential
Information for the gain or benefit of any party outside the Company or for Consultant's own personal gain or benefit outside the
scope of Services to be performed for the Company. Consultant will not cause the transmission, removal or transport of Confidential
Information from the Company's premises without prior written approval from the Chief Executive Officer of the Company.

 

(c)          Return
of Company Property. At the time of termination of this Agreement Consultant will deliver to the Company (and will not keep
in Consultant's possession or deliver to anyone else) any and all computer programs, software, files or systems devices, records,
data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, designs,
software, computer disks, photographs, photostats, negatives, undeveloped film, tape recordings or other electronic recordings,
other documents or property, or reproductions of any of the aforementioned items, belonging to the Company.

 

    	 	-4-	 

     

    

  

(d)          Representation.
Consultant represents that Consultant's performance of all the terms of this Agreement will not breach any agreement to keep in
confidence proprietary information acquired by Consultant in confidence or in trust prior to Consultant's engagement by the Company.
Consultant has not entered into, and agrees not to enter into, any oral or written agreement in conflict herewith. 

 

(e)          Exceptions.
Notwithstanding the other provisions of this Agreement, nothing received by Consultant shall be considered to be Confidential Information
of the Company, if (i) it has been rightfully received by Consultant from a third party without confidentiality limitations; (ii)
it was known to Consultant prior to his first receipt from the Company, as shown by files or other back-up documentation existing
at the time of initial disclosure; or (iii) it is required to be disclosed in the context of any administrative or judicial proceeding,
provided that prior written notice of such required disclosure and an opportunity to oppose or limit disclosure is given to the
Company.

 

7.            Inventions.

 

(a)          Assignment
of Inventions. Consultant agrees that he will promptly make full written disclosure to the Company, will hold in trust for
the sole right and benefit of the Company, and hereby assigns to the Company, or its designee, all of Consultant’s right,
title and interest throughout the world in and to any and all inventions, original works of authorship, developments, concepts,
know-how, improvements or trade secrets, whether or not patentable or registrable under copyright or similar laws, which Consultant
may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice,
during the Term (collectively referred to as “Inventions”), except as provided in Section 7(e) below. Consultant
further acknowledges that all Inventions which are made by Consultant (solely or jointly with others) within the scope of and during
Term are “works made for hire” (to the greatest extent permitted by applicable law) and are compensated by such amounts
paid to Consultant under this Agreement, unless regulated otherwise by the mandatory law of the State of California.

 

(b)          Maintenance
of Records. Consultant agrees to keep and maintain adequate and current written records of all Inventions made by Consultant
(solely or jointly with others) during the Term. The records may be in the form of notes, sketches, drawings, flow charts, electronic
data or recordings, notebooks, and any other format. The records will be available to and remain the sole property of the Company
at all times. Consultant agrees not to remove such records from the Company’s place of business except as expressly permitted
by Company policy which may, from time to time, be revised at the sole election of the Company for the purpose of furthering the
Company’s business. 

 

(c)          Patent
and Copyright Rights. Consultant agrees to assist the Company or its designee, at its expense, in every proper way to secure
the Company’s, or its designee’s, rights in the Inventions and any copyrights, patents, trademarks, mask work rights,
moral rights, or other intellectual property rights relating thereto in any and all countries, including the disclosure to the
Company or its designee of all pertinent information and data with respect thereto, the execution of all applications, specifications,
oaths, assignments, recordations, and all other instruments which the Company or its designee shall deem necessary in order to
apply for, obtain, maintain and transfer such rights, or if not transferable, waive such rights, and in order to assign and convey
to the Company or its designee, and any successors, assigns and nominees the sole and exclusive rights, title and interest in and
to such Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. Consultant
further agrees that Consultant’s obligation to execute or cause to be executed, when it is in his power to do so, any such
instrument or papers shall continue after the termination of this Agreement until the expiration of the last such intellectual
property right to expire in any country of the world.

    	 	-5-	 

     

    

  

(d)          Power
of Attorney. If the Company or its designee is unable because of Consultant’s mental or physical incapacity or unavailability
or for any other reason to secure Consultant’s signature to assign any of the Inventions under Section 7(a) hereof, or to
apply for or to pursue any application for any United States or foreign patents, copyright, mask works or other registrations covering
Inventions or original works of authorship assigned to the Company or its designee under this Agreement, then Consultant hereby
irrevocably designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney
in fact, to act for and on Consultant’s behalf and stead to execute and file any such assignments or applications, and to
do all other lawfully permitted acts to further the assignment of the Inventions, or the application for, prosecution, issuance,
maintenance or transfer of letters patent, copyright or other registrations thereon with the same legal force and effect as if
originally executed by Consultant. Consultant hereby waives and irrevocably quitclaims to the Company or its designee any and all
claims, of any nature whatsoever, which Consultant now or hereafter has for infringement of any and all proprietary rights assigned
to the Company or such designee.

 

(e)          Exception
to Assignments. Consultant understands that the provisions of this Agreement requiring assignment of Inventions to the Company
do not apply to any invention that Consultant developed on his own time, without using the Company’s equipment, supplies,
facilities or trade secret information except for those inventions that either: (i) relate at the time of conception or reduction
to practice of the invention to the Company’s business, or actual or demonstrably anticipated research or development of
the Company; or (ii) result from any work performed by Consultant for the Company. Consultant will advise the Company promptly
in writing of any inventions that Consultant believes meet such provisions.

 

8.            Rights
and Remedies Upon Breach. If Consultant breaches, or threatens to breach Sections 6 or 7 of this Agreement, the Company will
have the following rights and remedies, each of which rights and remedies shall be independent of the other and severally enforceable,
and all of which shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law
or in equity:

 

(a)          Specific
Performance. The right and remedy to have this Agreement specifically enforced by any court of competent jurisdiction, it being
acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages
will not provide an adequate remedy to the Company.

 

(b)          Injunctive
Relief. The right and remedy to apply to any court of law or equity having jurisdiction for injunctive relief (without the
posting of a bond or other security), it being acknowledged and agreed that any such breach or threatened breach will cause irreparable
injury to the Company and that money damages will not provide an adequate remedy to the Company.

 

9.          Entire
Agreement; Interpretation. This Agreement constitutes the entire agreement and understanding of the parties with respect to
the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings relating to the subject matter
hereof, written or otherwise. This Agreement may be amended or modified only by a written instrument executed by Consultant and
by an authorized representative of the Company.

 

10.         Waiver.
Any failure to exercise or delay in exercising any right, power or privilege herein contained, or any failure or delay at any time
to require the other party's performance of any obligation under this Agreement, shall not affect the right to subsequently exercise
that right, power or privilege, or to require performance of that obligation. A waiver of any of the provisions of this Agreement
shall not be deemed, nor shall it constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute
a continuing waiver.

 

    	 	-6-	 

     

    

  

11.         Assignment;
Binding Effect. This Agreement shall inure to the benefit of, and be enforceable by, the Company and its successors and assigns;
however, this Agreement is personal to Consultant and may not be assigned by Consultant in whole or in part.

 

12.         Severability.
If any provision of this Agreement shall be unlawful, void or for any reason unenforceable, it shall be deemed separable from,
and shall in no way affect the validity or enforceability of, the remaining provisions of this Agreement, and the rights and obligations
of the parties shall be enforced to the fullest extent possible.

 

13.         Governing
Law. This Agreement shall be construed in accordance with, and governed by, the laws of the State of Delaware.

 

14.         Arbitration.
Other than seeking court intervention for injunctive relief, specific performance and the like, all disputes arising out of or
relating in any way to Consultant’s performance of the Services hereunder, this Agreement or the termination of this Agreement,
shall be adjudicated in binding arbitration as described in more detail in this Section. Any dispute submitted to arbitration pursuant
to this Section shall be determined by arbitration in accordance with the rules of the Judicial, Arbitration and Mediation Services
(JAMS). The parties shall mutually select a single arbitrator to hear the matter; provided that if the parties are unable to agree,
the arbitrator shall be selected by JAMS. The arbitration shall be held in Los Angeles County, California. Any decision made by
the arbitrator shall be final, binding and conclusive on the parties and each party to the arbitration shall be entitled to enforce
such decision to the fullest extent permitted by law and entered in any court of competent jurisdiction. 

 

15.         Notices.
Unless otherwise provided herein, any notice to be given hereunder by any party to the other shall be in writing and delivered
in person or by commercial overnight courier, by facsimile transmission or mailed by certified mail, postage prepaid, return receipt
requested, as follows:

 

	To Company:	 	
        Tandon Digital, Inc.

        2655 Park Center Drive, Unit C

        Simi Valley, CA 93065

        Attn: Jawahar Tandon

         

	To Consultant:	 	
        David H. Clarke

        14179 Laurel Trail

        Wellington, FL 33414

 

Any such notice or other communication
shall be deemed received and effective upon the earlier of (a) if personally delivered, the date of delivery to the address of
the person to receive such notice; (b) if delivered by commercial overnight carrier, one (1) day following the receipt of such
communication by such carrier from the sender; (c) if mailed, forty-eight (48) hours after the date of posting by the United States
Post Office as shown by the sender's registry or certification receipt, as the case may be; or (d) if given by facsimile, when
sent. Notice of change of address shall be given by written notice in the manner detailed in this Section 15.

 

16.         Attorneys'
Fees; Costs. If any action at law or in equity (including an arbitration) is brought to enforce or interpret the terms of this
Agreement or any obligation owing hereunder, the prevailing party shall be entitled to reasonable attorneys' fees and all costs
and expenses of suit or arbitration.

 

    	 	-7-	 

     

    

  

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

 

[Signature Page(s) to Follow]

 

    	 	-8-	 

     

    

 

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

 

	CONSULTANT	 	TANDON DIGITAL, INC.
	 	 	 	 
	 	 	By:	/s/ Jawahar Tandon
	 	 	Name:	Jawahar Tandon
	/s/ David H. Clarke	 	Title:	Chief Executive Officer
	David H. Clarke	 	 	 

 

    	 	-9-

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