Document:

Exhibit 4.2

 

 

 

Agora Digital Holdings, Inc.

 

and

 

Philadelphia Stock Transfer Inc. as

Warrant Agent

 

 

 

Warrant Agency Agreement

 

Dated as of ___________, 202__

 

     

     

    

 

WARRANT AGENCY AGREEMENT

 

WARRANT AGENCY AGREEMENT, dated as of __________, 202__ (“Agreement”), by and between Agora Digital Holdings, Inc., a Nevada
corporation (the “Company”), and Philadelphia Stock Transfer Inc., a ________ corporation (“PST” or the “Warrant
Agent”). 

 

W I T N E S S E T H

 

WHEREAS, pursuant to an offering
by the Company of Warrants (as defined below), the Company wishes to issue Warrants in book entry form entitling the respective holders
of the Warrants (the “Holders”, which term shall include a Holder’s transferees, successors and assigns and “Holder”
shall include, if the Warrants are held in “street name”, a Participant (as defined below) or a designee appointed by such
Participant) to purchase an aggregate of up to ______ shares of Common Stock underlying the Warrants (as defined below) upon the terms
and subject to the conditions hereinafter set forth (the “Offering”);

 

WHEREAS, the Company wishes
the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to act on behalf of the Company, in connection with
the issuance, registration, transfer, exchange, exercise and replacement of the Warrants.

 

NOW, THEREFORE, in consideration
of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Certain Definitions.
For purposes of this Agreement, the following terms have the meanings indicated:

 

(a) “Affiliate”
has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

(b) “Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which the Nasdaq
Stock Market is authorized or required by law or other governmental action to close.

 

(c) “Close of Business”
on any given date means 5:00 p.m., New York City time, on such date; provided, however, that if such date is not a Business
Day, it means 5:00 p.m., New York City time, on the next succeeding Business Day.

 

(e) “Person”
means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization,
government or political subdivision thereof or governmental agency or other entity.

 

(f) “Warrants”
means Common Stock Purchase Warrants of the Company with a term of exercise of ____ years following the Initial Exercise Date.

 

(g) “Warrant Certificate”
means a certificate in substantially the form attached as Exhibit 1-A hereto, representing such number of Warrant Shares (as defined
below) as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement shall include delivery
of notice from the Depository or a Participant (each as defined below) of the transfer or exercise of the Warrant in the form of a Global
Warrant (as defined below).

 

(h) “Warrant Shares”
means the shares of Common Stock underlying the Warrants and issuable upon exercise of the Warrants.

 

All other capitalized terms
used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant Certificates.

 

Section 2. Appointment
of Successor Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express
terms or conditions hereof (and no implied terms and conditions), and the Warrant Agent hereby accepts such appointment. The Company may
from time to time appoint such Co-Warrant Agents as it may, in its sole discretion, deem necessary or desirable upon ten (10) calendar
days’ prior written notice to the Warrant Agent. The Warrant Agent shall have no duty to supervise, and shall in no event be liable
for, the acts or omissions of any such Co-Warrant Agent. In the event the Company appoints one or more co-Warrant Agents, the respective
duties of the Warrant Agent and any Co-Warrant Agent shall be as the Company shall reasonably determine, provided that such duties and
determination are consistent with the terms and provisions of this Agreement.

 

    2 

     

    

 

Section 3. Global Warrants.

 

(a) The Warrants shall be
issuable in book entry form. All of the Warrants shall initially be represented by one or more Global Warrants (the “Global Warrants”
and, each, a “Global Warrant”), deposited with the Warrant Agent and registered in the name of Cede & Co., a nominee
of The Depository Trust Company (the “Depository”), or as otherwise directed by the Depository. Ownership of beneficial
interests in the Warrants, shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i)
the Depository or its nominee for each Global Warrant or (ii) institutions that have accounts with the Depository (such institution, with
respect to a Warrant in its account, a “Participant”). For purposes of Regulation SHO, a holder whose interest in a
Global Warrant is a beneficial interest in certificate(s) representing such Warrant held in book-entry form through the Depository shall
be deemed to have exercised its interest in such Warrant upon instructing its broker that is a Participant to exercise its interest in
such Warrant, provided that in each such case payment of the applicable aggregate Exercise Price (other than in the case of a cashless
exercise) is delivered by such Participant within the earlier of (i) two trading days and (ii) the number of trading days comprising the
Standard Settlement Period, in each case following such instruction. As used herein, “Standard Settlement Period” means the
standard settlement period, expressed in a number of trading days, on the Company’s primary trading market with respect to the Common
Stock as in effect on the date of delivery of the Exercise Notice.

 

(b) If the Depository subsequently
ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding other
arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the
Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depository to deliver to the Warrant
Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent in writing to deliver to each Holder a Warrant
Certificate.

 

(c) A Holder has the right
to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request Notice (as defined
below). Upon written notice by a Holder to the Warrant Agent for the exchange of some or all of such Holder’s Global Warrants for
a Warrant Certificate, evidencing the same number of Warrants, which request shall be in the form attached hereto as Annex A (a
“Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request Notice by the Holder,
the “Warrant Certificate Request Notice Date” and the deemed surrender upon delivery by the Holder of a number of Global
Warrants for the same number of Warrants evidenced by a Warrant Certificate, a “Warrant Exchange”), the Warrant Agent
shall promptly effect the Warrant Exchange and shall promptly issue and deliver, at the expense of the Company, to the Holder a Warrant
Certificate, for such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Warrant Certificate shall
be dated the original issue date of the Warrants, shall be executed by manual signature by an authorized signatory of the Company, and
shall be in the form attached hereto as Exhibit 1-A. In connection with a Warrant Exchange, the Company agrees to deliver, or to
direct the Warrant Agent to deliver, the Warrant Certificate, to the Holder within three (3) Business Days of the Warrant Certificate
Request Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (“Warrant Certificate Delivery
Date”). Notwithstanding anything herein to the contrary, the Company shall act as warrant agent with respect to any physical
Warrant Certificate issued pursuant to this section. If the Company fails for any reason to deliver to the Holder the Warrant Certificate
subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash,
as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Warrant Certificate (based on the VWAP
(as defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day for each Business
Day after such Warrant Certificate Delivery Date until such Warrant Certificate is delivered or, prior to delivery of such Warrant Certificate,
the Holder rescinds such Warrant Exchange. In no event shall the Warrant Agent be liable for the Company’s failure to deliver the
Warrant Certificate by the Warrant Certificate Delivery Date. The Company covenants and agrees that, upon the date of delivery of the
Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Warrant Certificate, as applicable, and, notwithstanding
anything to the contrary set forth herein, the Warrant Certificate shall be deemed for all purposes to contain all of the terms and conditions
of the Warrants, evidenced by such Warrant Certificate, and the terms of this Agreement, other than Sections 3(c) and 9 herein, shall
not apply to the Warrants evidenced by the Warrant Certificate.

 

Section 4. Form of Warrant
Certificates. The Warrant Certificate, together with the form of election to purchase Common Stock (“Exercise Notice”)
and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit 1-A hereto.

 

Section 5. Countersignature
and Registration. The Warrant Certificates shall be executed on behalf of the Company by its Chief Executive Officer, Chief Financial
Officer or Vice President, either manually or by facsimile signature. The Warrant Certificates shall be countersigned by the Warrant Agent
either manually or by facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of the Company
who shall have signed any of the Warrant Certificates shall cease to be such officer of the Company before countersignature by the Warrant
Agent and issuance and delivery by the Company, such Warrant Certificates, nevertheless, may be countersigned by the Warrant Agent, issued
and delivered with the same force and effect as though the Person who signed such Warrant Certificate had not ceased to be such officer
of the Company; and any Warrant Certificate may be signed on behalf of the Company by any Person who, at the actual date of the execution
of such Warrant Certificate, shall be a proper officer of the Company to sign such Warrant Certificate, although at the date of the execution
of this Agreement any such Person was not such an officer.

 

    3 

     

    

 

The Warrant Agent will keep
or cause to be kept, at its office designated for such purposes, books for registration and transfer of the Warrant Certificates issued
hereunder. Such books shall show the names and addresses of the respective Holders of the Warrant Certificates, the number of warrants
evidenced on the face of each such Warrant Certificate and the date of each such Warrant Certificate. The Warrant Agent will create a
special account for the issuance of Warrant Certificates.

 

Section 6. Transfer, Split
Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. With respect to the
Global Warrant, subject to the provisions of the Warrant Certificate, and the last sentence of this first paragraph of Section 6 and subject
to applicable law, rules or regulations, or any “stop transfer” instructions the Company may give to the Warrant Agent, at
any time after the closing date of the Offering, and at or prior to the Close of Business on the Termination Date (as such term is defined
in the Warrant Certificate), any Warrant Certificate or Warrant Certificates or Global Warrant or Global Warrants may be transferred,
split up, combined or exchanged for another Warrant Certificate or Warrant Certificates or Global Warrant or Global Warrants, entitling
the Holder to purchase a like number of shares of Common Stock as the Warrant Certificate or Warrant Certificates or Global Warrant or
Global Warrants surrendered then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any
Warrant Certificate or Global Warrant shall make such request in writing delivered to the Warrant Agent and shall surrender the Warrant
Certificate or Warrant Certificates, together with the required form of assignment and certificate duly executed and properly completed
and such other documentation as the Warrant Agent may reasonably request, to be transferred, split up, combined or exchanged at the office
of the Warrant Agent designated for such purpose, provided that no such surrender is applicable to the Holder of a Global Warrant. Any
requested transfer of Warrants, whether in book-entry form or certificate form, shall be accompanied by evidence of authority of the party
making such request that may be reasonably required by the Warrant Agent. Thereupon the Warrant Agent shall, subject to the last sentence
of this first paragraph of Section 6, countersign and deliver to the Person entitled thereto a Warrant Certificate or Warrant Certificates,
as the case may be, as so requested. The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental
charge that may be imposed in connection with any transfer, split up, combination or exchange of Warrant Certificates. The Warrant Agent
shall not have any duty or obligation to take any action under any section of this Agreement that requires the payment of taxes and/or
charges unless and until it is satisfied that all such payments have been made.

 

Upon receipt by the Warrant
Agent of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate, which evidence
shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof remaining, and, in case
of loss, theft or destruction, of indemnity or security reasonably acceptable to the Company and the Warrant Agent, and satisfaction of
any other reasonable requirements established by Section 8-405 of the Uniform Commercial Code as in effect in the State of Nevada, and
reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental thereto, and upon surrender to the Warrant Agent
and cancellation of the Warrant Certificate if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor to
the Warrant Agent for delivery to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.

 

Section 7. Exercise of
Warrants; Exercise Price; Termination Date.

 

(a) The Warrants shall be exercisable commencing
on the Initial Exercise Date. The Warrants shall cease to be exercisable on the Termination Date (as such term is defined in the Warrant
Certificate). Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant may exercise the Warrant, in whole or in part
upon surrender of the Warrant Certificate, if required, with the properly completed and duly executed Exercise Notice and payment of the
Exercise Price (unless exercised via a cashless exercise), which may be made, at the option of the Holder, by wire transfer or by certified
or official bank check in United States dollars, to the Warrant Agent at the office of the Warrant Agent designated for such purposes.
In the case of the Holder of a Global Warrant, the Holder shall deliver the duly executed Exercise Notice and the payment of the Exercise
Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose interest in a Global Warrant is a beneficial
interest in a Global Warrant held in book-entry form through the Depository (or another established clearing corporation performing similar
functions) shall effect exercises by delivering to the Depository (or such other clearing corporation, as applicable) the appropriate
instruction form for exercise, complying with the procedures to effect exercise that is required by the Depository (or such other clearing
corporation, as applicable). The Company acknowledges that the bank accounts maintained by the Warrant Agent in connection with the services
provided under this Agreement will be in its name and that the Warrant Agent may receive investment earnings in connection with the investment
at Warrant Agent risk and for its benefit of funds held in those accounts from time to time. Neither the Company nor the Holders will
receive interest on any deposits or Exercise Price. No ink-original Exercise Notice shall be required, nor shall any medallion guarantee
(or other type of guarantee or notarization) of any Exercise Notice be required.

 

    4 

     

    

 

(b) Upon receipt of an Exercise
Notice for a Cashless Exercise, the Warrant Agent shall deliver a copy of the Exercise Notice to the Company and request from the Company,
and the Company shall promptly calculate and transmit to the Warrant Agent in writing, the number of Warrant Shares issuable in connection
with such Cashless Exercise. The Warrant Agent shall have no obligation under this Agreement to calculate, the number of Warrant Shares
issuable in connection with a Cashless Exercise, nor shall the Warrant Agent have any duty or obligation to investigate or confirm whether
the Company’s determination of the number of Warrant Shares issuable upon such exercise, pursuant to this Section 7, is accurate
or correct.

 

(c)
Upon the Warrant Agent’s receipt of a Warrant Certificate, at or prior to the Close of Business on the Termination Date set forth
in such Warrant Certificate, with the executed Exercise Notice and payment of the Exercise Price for the shares to be purchased (other
than in the case of a Cashless Exercise) and an amount equal to any applicable tax, or governmental charge referred to in Section 6 by
wire transfer, or by certified check or bank draft payable to the order of the Company (or, in the case of the Holder of a Global Warrant,
the delivery of the executed Exercise Notice and the payment of the Exercise Price (other than in the case of a Cashless Exercise) and
any other applicable amounts as set forth herein), the Warrant Agent shall cause the Warrant Shares underlying such Warrant Certificate,
or Global Warrant, to be delivered to or upon the order of the Holder of such Warrant Certificate, or Global Warrant, registered in such
name or names as may be designated by such Holder, no later than the Warrant Share Delivery Date (as such term is defined in the Warrant
Certificate). If the Company is then a participant in the DWAC system of the Depository and either (A) there is an effective registration
statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised
via Cashless Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the
account of the Holder’s broker with the Depository through its DWAC system. For the avoidance of doubt, if the Company becomes obligated
to pay any amounts to any Holders pursuant to Sections 2(d)(i) or 2(d)(iv) of the Warrant Certificate, such obligation shall be solely
that of the Company and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except in the
case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the aggregate Exercise
Price of the Warrant Shares to be purchased upon exercise of such Holder’s Warrant as set forth in Section 7(a) hereof by the Warrant
Share Delivery Date, the Warrant Agent will not be obligated to deliver such Warrant Shares (via DWAC or otherwise) until following receipt
of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or part thereof) until
such payment is delivered to the Warrant Agent.

 

(d) The Warrant Agent shall
deposit all funds received by it in payment of the Exercise Price for all Warrants in the account of the Company maintained with the Warrant
Agent for such purpose (or to such other account as directed by the Company in writing) and shall advise the Company via email at the
end of each day on which exercise notices are received, or funds for the exercise of any Warrant are received, of the amount so deposited
to its account.

 

(e) In case the Holder of
any Warrant Certificate shall exercise fewer than all Warrants evidenced thereby, upon the request of the Holder, a new Warrant Certificate
evidencing the number of Warrants equivalent to the number of Warrants remaining unexercised may be issued by the Warrant Agent to the
Holder of such Warrant Certificate or to his duly authorized assigns in accordance with Section 2(d)(ii) of the Warrant Certificate, subject
to the provisions of Section 6 hereof.

 

Section 8. Cancellation
and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination
or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled
form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall be issued in lieu thereof except
as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and
retirement, and the Warrant Agent shall so cancel and retire any other Warrant Certificate purchased or acquired by the Company otherwise
than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant Certificates to the Company, or shall, at the written
request of the Company, destroy such canceled Warrant Certificates, and in such case shall deliver a certificate of destruction thereof
to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled certificates.

 

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Section 9. Certain Representations;
Reservation and Availability of Shares of Common Stock or Cash.

 

(a) This Agreement has been
duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof by the Warrant Agent,
constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, and the
Warrants have been duly authorized, executed and issued by the Company and, assuming due execution thereof by the Warrant Agent pursuant
hereto and payment therefor by the Holders, constitute valid and legally binding obligations of the Company enforceable against the Company
in accordance with their terms and entitled to the benefits hereof; in each case except as enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally or by general
equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

(b) As of the date hereof,
the authorized capital stock of the Company consists of (i) ______ shares of Common Stock, of which _____ shares of Common Stock are issued
and outstanding, and _______ shares of Common Stock are reserved for issuance upon exercise of the Warrants, (ii) _______ shares of preferred
stock, ______ of which are issued and outstanding; and (iii) ______ shares of Common Stock are authorized for issuance to employees, consultants
and directors pursuant to the Company’s stock plan, under which options to purchase _____ shares are issued and outstanding. There
are no other obligations, warrants, options or other rights to subscribe for or purchase from the Company any class of capital stock of
the Company.

 

(c) The Company covenants
and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Common Stock or its authorized
and issued shares of Common Stock held in its treasury, free from preemptive rights, the number of shares of Common Stock that will be
sufficient to permit the exercise in full of all outstanding Warrants.

 

(d) The Warrant Agent will
create a special account for the issuance of Common Stock upon the exercise of Warrants.

 

(e) The Company further
covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be payable
in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Common Stock upon exercise of the
Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable in respect of any transfer
involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates for Common Stock in a name other
than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise or to issue or deliver any certificate
for shares of Common Stock upon the exercise of any Warrants until any such tax or governmental charge shall have been paid (any such
tax or governmental charge being payable by the Holder of such Warrant Certificate at the time of surrender) or until it has been established
to the Company’s and the Warrant Agent’s reasonable satisfaction that no such tax or governmental charge is due.

 

Section 10. Common Stock
Record Date. Each Person in whose name any certificate for shares of Common Stock is issued (or to whose broker’s account is
credited shares of Common Stock through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed to have become
the holder of record for the Common Stock represented thereby on, and such certificate shall be dated, the date on which submission of
the Exercise Notice was made, provided that the Warrant Certificate evidencing such Warrant was duly surrendered (but only if required
herein) and payment of the Exercise Price (and any applicable transfer taxes) was received on or prior to the Warrant Share Delivery Date;
provided, however, that, if the date of submission of the Exercise Notice is a date upon which the Common Stock transfer
books of the Company are closed, such Person shall be deemed to have become the record holder of such shares on, and such certificate
shall be dated, the next succeeding day on which the Common Stock transfer books of the Company are open.

 

Section 11. Adjustment
of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the number of shares covered
by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in Section 3 of the Warrant
Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3 of the Warrant Certificate, the Holder
of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than shares of Common
Stock, thereafter the number of such other shares so receivable upon exercise of any Warrant shall be subject to adjustment from time
to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares contained in Section
3 of the Warrant Certificate, and the provisions of Sections 7, 9 and 13 of this Agreement with respect to the shares of Common Stock
shall apply on like terms to any such other shares. All Warrants originally issued by the Company subsequent to any adjustment made to
the Exercise Price pursuant to the Warrant Certificate shall evidence the right to purchase, at the adjusted Exercise Price, the number
of shares of Common Stock purchasable from time to time hereunder upon exercise of the Warrants, all subject to further adjustment as
provided herein.

 

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Section 12. Certification
of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of shares of Common Stock
issuable upon the exercise of each Warrant Certificate is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare
a certificate setting forth the Exercise Price of each Warrant Certificate, as so adjusted, and a brief, reasonably detailed statement
of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock
a copy of such certificate and (c) instruct the Warrant Agent, at the Company’s expense, to send a brief summary thereof to each
Holder of a Warrant Certificate. The Warrant Agent shall be fully protected in relying on such certificate and on any adjustment or statement
therein contained and shall have no duty or liability with respect to and shall not be deemed to have knowledge of any such adjustment
or any such event unless and until it shall have received such certificate.

 

Section 13. Fractional
Shares of Common Stock.

 

(a) The Company shall not
issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional Warrant would
otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such fraction to the
nearest whole Warrant (rounded up).

 

(b) The Company shall not
issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence fractional shares
of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed, the actual
issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

 

Section 14. Concerning the Warrant Agent.

 

(a) The Company agrees to pay
to the Warrant Agent, pursuant to the fee schedule mutually agreed upon by the parties hereto and provided separately on the date hereof,
for all services rendered by it hereunder and, from time to time, its reasonable expenses and counsel fees and other disbursements incurred
in the preparation, delivery, negotiation, amendment, administration and execution of this Agreement and the exercise and performance
of its duties hereunder.

 

(b) The Company covenants and
agrees to indemnify and to hold the Warrant Agent harmless against any costs, expenses (including reasonable fees and expenses of its
legal counsel), losses or damages, which may be paid, incurred or suffered by or to which it may become subject, arising from or out of,
directly or indirectly, any claims or liability resulting from its actions or omissions as Warrant Agent pursuant hereto; provided, that
such covenant and agreement does not extend to, and the Warrant Agent shall not be indemnified with respect to, such costs, expenses,
losses and damages incurred or suffered by the Warrant Agent as a result of, or arising out of, its gross negligence, bad faith, or willful
misconduct (each as determined by a final non-appealable court of competent jurisdiction). Notwithstanding anything in this Agreement
to the contrary, any liability of the Warrant Agent under this Agreement will be limited to the amount of annual fees paid by the Company
to the Warrant Agent during the twelve (12) months immediately preceding the event for which recovery from the Warrant Agent is being
sought. The costs and expenses incurred by the Warrant Agent in enforcing this right of indemnification shall be paid by the Company.

 

(c) Upon the assertion of a
claim for which the Company may be required to indemnify the Warrant Agent, the Warrant Agent shall promptly notify the Company of such
assertion, and shall keep the other party reasonably advised with respect to material developments concerning such claim. However, failure
to give such notice shall not affect the Warrant Agent’s right to and the Company’s obligations for indemnification hereunder.

 

(d) Neither party to this Agreement
shall be liable to the other party for any consequential, indirect, punitive, special or incidental damages under any provisions of this
Agreement or for any consequential, indirect, punitive, special or incidental damages arising out of any act or failure to act hereunder
even if that party has been advised of or has foreseen the possibility of such damages.

 

(e) Notwithstanding anything
contained herein to the contrary, the rights and obligations of the parties set forth in this Section 14 shall survive termination
of this Agreement, the expiration of the Warrants and/or the resignation, removal or replacement of the Warrant Agent.

 

Section 15. Purchase or
Consolidation or Change of Name of Warrant Agent. Any Person into which the Warrant Agent or any successor Warrant Agent may be merged
or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Warrant Agent or any successor
Warrant Agent shall be party, or any Person succeeding to the stock transfer or other shareholder services business of the Warrant Agent
or any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution or filing of any
paper or any further act on the part of any of the parties hereto, provided that such Person would be eligible for appointment as a successor
Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed to the agency created
by this Agreement any of the Warrant Certificates shall have been countersigned but not delivered, any such successor Warrant Agent may
adopt the countersignature of the predecessor Warrant Agent and deliver such Warrant Certificates so countersigned; and in case at that
time any of the Warrant Certificates shall not have been countersigned, any successor Warrant Agent may countersign such Warrant Certificates
either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all such cases, such Warrant
Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

 

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In case at any time the name
of the Warrant Agent shall be changed and at such time any of the Warrant Certificates shall have been countersigned but not delivered,
the Warrant Agent may adopt the countersignature under its prior name and deliver Warrant Certificates so countersigned; and in case at
that time any of the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant Certificates
either in its prior name or in its changed name; and in all such cases, such Warrant Certificates shall have the full force provided in
the Warrant Certificates and in this Agreement.

 

Section 16. Duties of Warrant
Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following express terms and conditions
(and no implied terms and conditions), by all of which the Company, by its acceptance hereof, shall be bound and shall not assume any
obligations or relationship of agency or trust with any of the Holders of the Warrants or any other Person:

 

(a) The Warrant Agent may
consult with legal counsel selected by it (who may be legal counsel for the Company), and the opinion and advice of such counsel shall
be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in accordance with such
opinion or advice.

 

(b) Whenever in the performance
of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established
by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein
specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by the Chief Executive Officer,
Chief Financial Officer or Vice President of the Company; and such certificate shall be full authorization and protection to the Warrant
Agent, and the Warrant Agent shall incur no liability for or in respect of any action taken, suffered or omitted to be taken by it under
the provisions of this Agreement in reliance upon such certificate. The Warrant Agent shall have no duty to act without such a certificate
as set forth in this Section 16(b).

 

(c) Subject to the limitation
set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith or willful misconduct
(each as determined in a final, non-appealable judgment of a court of competent jurisdiction).

 

(d) The Warrant Agent shall
not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrant Certificates
(including in the case of any notation in book-entry form to reflect ownership), except its countersignature thereof, by the Company or
be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Company only.

 

(e) The Warrant Agent shall
not have any liability or be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof
(except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant Certificate (except its
countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement
or in any Warrant Certificate; nor shall it be responsible for the adjustment of the Exercise Price or the making of any change in the
number of shares of Common Stock required under the provisions of Section 11 or 13 or responsible for the manner, method or amount of
any such change or adjustment or the ascertaining of the existence of facts that would require any such adjustment or change (except with
respect to the exercise of Warrants evidenced by Warrant Certificates after actual notice of any adjustment of the Exercise Price); nor
shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of
Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any shares of Common Stock will, when
issued, be duly authorized, validly issued, fully paid and nonassessable.

 

(f) Each party hereto agrees
that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further
and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying out or performing
by any party of the provisions of this Agreement.

 

    8 

     

    

 

(g) The Warrant Agent is
hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer, Chief
Financial Officer or Vice President of the Company, and to apply to such officers for advice or instructions in connection with its duties,
and it shall not be liable and shall be indemnified and held harmless for any action taken or suffered to be taken by it in good faith
in accordance with instructions of any such officer, provided Warrant Agent carries out such instructions without gross negligence, bad
faith or willful misconduct.

 

(h) The Warrant Agent and
any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of
the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money
to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude
the Warrant Agent from acting in any other capacity for the Company or for any other Person. In the event that the Warrant Agent seeks
to exercise a Warrant, and provides the Company with (i) an opinion of counsel to the effect that a public sale or transfer of the Common
Stock issuable upon exercise of the Warrant may be made without registration under the 1933 Act and such sale or transfer is effected
or (ii) the Purchaser provides reasonable assurances that the Securities can be sold pursuant to an effective registration statement under
the Securities Act of 1933, as amended, Rule 144, Section 4(a)(1), or other applicable exemption, the Company shall permit the transfer,
and, in the case of the Common Stock issuable upon exercise of the Warrant, promptly instruct its transfer agent to issue one or more
certificates, free from restrictive legend, in such name and in such denominations as specified by the Holder. The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Holder by vitiating the intent and purpose of the
transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this
Section 16(h) may be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions of this Section,
that the Holder shall be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring
immediate transfer, without the necessity of showing economic loss and without any bond or other security being required.

 

(i) The Warrant Agent may
execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its
attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such
attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, absent gross negligence
or bad faith in the selection and continued employment thereof (which gross negligence and bad faith must be determined by a final, non-appealable
judgment of a court of competent jurisdiction).

 

(j) The Warrant Agent shall
not be obligated to expend or risk its own funds or to take any action that it believes would expose or subject it to expense or liability
or to a risk of incurring expense or liability, unless it has been furnished with assurances of repayment or indemnity satisfactory to
it.

 

(k) The Warrant Agent shall not be liable or
responsible for any failure of the Company to comply with any of its obligations relating to any registration statement filed with the
Securities and Exchange Commission or this Agreement, including without limitation obligations under applicable regulation or law.

 

(l) The Warrant Agent may rely on and be fully
authorized and protected in acting or failing to act upon (a) any guaranty of signature by an “eligible guarantor institution”
that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable “signature guarantee program”
or insurance program in addition to, or in substitution for, the foregoing; or (b) any law, act, regulation or any interpretation of the
same even though such law, act, or regulation may thereafter have been altered, changed, amended or repealed.

 

(m) In the event the Warrant Agent believes any
ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or other communication, paper or document
received by the Warrant Agent hereunder, the Warrant Agent, may, in its sole discretion, refrain from taking any action, and shall be
fully protected and shall not be liable in any way to Company, the holder of any Warrant or any other Person for refraining from taking
such action, unless the Warrant Agent receives written instructions signed by the Company which eliminates such ambiguity or uncertainty
to the satisfaction of Warrant Agent.

 

(n) This Section 16 shall survive the expiration
of the Warrants, the termination of this Agreement and the resignation, replacement or removal of the Warrant Agent. The costs and expenses
incurred in enforcing this right of indemnification shall be paid by the Company.

 

    9 

     

    

 

Section 17. Change of Warrant
Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon thirty (30) days’ notice in
writing sent to the Company and, in the event that the Warrant Agent or one of its affiliates is not also the transfer agent for the Company,
to each transfer agent of the Common Stock. In the event the transfer agency relationship in effect between the Company and the Warrant
Agent terminates, the Warrant Agent will be deemed to have resigned automatically and be discharged from its duties under this Agreement
as of the effective date of such termination, and the Company shall be responsible for sending any required notice thereunder. The Company
may remove the Warrant Agent or any successor Warrant Agent upon thirty (30) days’ notice in writing, sent to the Warrant Agent
or successor Warrant Agent, as the case may be, and to each transfer agent of the Common Stock, and to the Holders of the Warrant Certificates.
If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall appoint a successor to
the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after such removal or after
it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent or by the Holder of
a Warrant Certificate (who shall, with such notice, submit this Warrant Certificate for inspection by the Company), then the Holder of
any Warrant Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent, provided that, for
purposes of this Agreement, the Company shall be deemed to be the Warrant Agent until a new warrant agent is appointed. Any successor
Warrant Agent, whether appointed by the Company or by such a court, shall be a Person, other than a natural person, organized and doing
business under the laws of the United States or of a state thereof, in good standing, which is authorized under such laws to exercise
stock transfer powers and is subject to supervision or examination by federal or state authority and which has at the time of its appointment
as Warrant Agent a combined capital and surplus of at least $50,000,000. After appointment, the successor Warrant Agent shall be vested
with the same powers, rights, duties and responsibilities as if it had been originally named as Warrant Agent without further act or deed;
but the predecessor Warrant Agent shall deliver and transfer to the successor Warrant Agent any property at the time held by it hereunder,
and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose but such predecessor Warrant Agent shall
not be required to make any additional expenditure (without prompt reimbursement by the Company) or assume any additional liability in
connection with the foregoing. Not later than the effective date of any such appointment, the Company shall file notice thereof in writing
with the predecessor Warrant Agent and each transfer agent of the Common Stock and mail a notice thereof in writing to the Holders of
the Warrant Certificates. However, failure to give any notice provided for in this Section 17, or any defect therein, shall not affect
the legality or validity of the resignation or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the
case may be.

 

Section 18. Issuance of
New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company
may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors to reflect
any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities or property
purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.

 

Section 19. Notices.
Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrant Certificate
to or on the Company, (ii) by the Company or by the Holder of any Warrant Certificate to or on the Warrant Agent or (iii) by the Company
or the Warrant Agent to the Holder of any Warrant Certificate, shall be deemed given when in writing (a) on the date delivered, if delivered
personally, (b) on the first Business Day following the deposit thereof with Federal Express or another recognized overnight courier,
if sent by Federal Express or another recognized overnight courier, (c) on the fourth Business Day following the mailing thereof with
postage prepaid, if mailed by registered or certified mail (return receipt requested), and (d) the time of transmission, if such notice
or communication is delivered via facsimile or e-mail attachment at or prior to 5:30 p.m. (New York City time) on a Business Day and (e)
the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile or e-mail attachment
on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, in each case to the parties at the
following addresses (or at such other address for a party as shall be specified by like notice):

 

		(a)	If to the Company, to:

 

Agora Digital Holdings, Inc.

303 Pearl Parkway, Suite 200

San Antonio, TX 78215

 

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

 

Nason, Yeager, Gerson, Harris & Fumero, P.A.

3001 PGA Blvd., Suite 305

Palm Beach Gardens, FL 33410

E-mail: MHarris@nasonyeager.com

Attn: Michael D. Harris, Esq.

 

    10 

     

    

 

		(b)	If to the Warrant Agent, to:

 

Philadelphia Stock
Transfer Inc.

2320 Haverford
Rd.

Ardmore, PA 19003

Email:

 

For any notice delivered by email to be deemed
given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next Business Day following
such email, unless the recipient of such email has acknowledged via return email receipt of such email.

 

(c) If to the Holder of
any Warrant Certificate, to the address of such Holder as shown on the registry books of the Company. Any notice required to be delivered
by the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding any other provision
of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice shall be sufficiently
given if given to the Depository (or its designee) pursuant to the procedures of the Depository or its designee. To the extent that any
notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

 

Section 20. Supplements
and Amendments.

 

(a) The Company and the
Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global Warrants in order
to (i) add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants, (ii) to surrender any
rights or power reserved to or conferred upon the Company in this Agreement, (iii) to cure any ambiguity,
(iv) to correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein,
or (v) to make any other provisions with regard to matters or questions arising hereunder which the Company and the Warrant Agent may
deem necessary or desirable, provided that such addition, correction or surrender shall not adversely affect the interests of the
Holders of the Global Warrants or Warrant Certificates in any material respect.

 

(b) In addition to the foregoing,
with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority of the shares of Common Stock
issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or modifying in any manner the rights of the Holders of the Global
Warrants; provided, however, that that (i) if any amendment, modification or waiver disproportionately and adversely impacts
a Holder (or group of Holders), the consent of such disproportionately impacted Holder (or group of Holders) shall also be required and
(ii) no modification of the terms (including but not limited to the adjustments described in Section 11) upon which the Warrants are exercisable
or reducing the percentage required for consent to modification of this Agreement may be made without the consent of the Holder of each
outstanding warrant certificate affected thereby; provided further, however, that no amendment hereunder shall affect any
terms of any Warrant Certificate issued in a Warrant Exchange. As a condition precedent to the Warrant Agent’s execution of any
amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that
the proposed amendment complies with the terms of this Section 20. No supplement or amendment to this Agreement shall be effective unless
duly executed by the Warrant Agent.

 

Section 21. Successors.
All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit
of their respective successors and assigns hereunder.

 

Section 22. Benefits of
this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Warrant Certificates
and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and
exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates.

 

Section 23. Governing Law;
Jurisdiction. This Agreement and each Warrant Certificate issued hereunder shall be governed by, and construed in accordance with,
the laws of the State of New York without giving effect to the conflicts of law principles thereof. The Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts
of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenience forum.

 

    11 

     

    

 

Section 24. Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument. A signature to this Agreement transmitted electronically
shall have the same authority, effect and enforceability as an original signature.

 

Section 25. Captions.
The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof.

 

Section 26.Severability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of
this Agreement; provided, however, that if such prohibited and invalid provision shall adversely affect the rights, immunities, liabilities,
duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to the Company.

 

Section 27. Conflicts.
To the extent any provision of this Agreement conflicts with the express provisions of the Warrant Certificate, the provisions of the
Warrant Certificate shall govern and be controlling.

 

Section 28.Force Majeure.
Notwithstanding anything to the contrary contained herein, the Warrant Agent will not be liable for any delays or failures in performance
resulting from acts beyond its reasonable control, including, without limitation, acts of God, terrorist acts, shortage of supply, breakdowns
or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties
with information storage or retrieval systems, labor difficulties, war, or civil unrest.

 

Section 29. Entire
Agreement. The parties hereto acknowledge that there are no agreements or understandings, written or oral, between them with respect
to matters contemplated hereunder other than as set forth herein and the Warrant Certificates, that this Agreement and the Warrant Certificates
contain the entire agreement between them with respect to the subject matter hereof and thereof.

 

Section 30. Fees; Expenses.
As consideration for the services provided by PST (the “Services”), the Company shall pay to PST the fees set forth
on Schedule 1 hereto (the “Fees”). If the Company requests that PST provide additional services not contemplated
hereby, the Company shall pay to PST fees for such services at PST’s reasonable and customary rates, such fees to be governed by
the terms of a separate agreement to be mutually agreed to and entered into by the Parties at such time (the “Additional Service
Fee”; together with the Fees, the “Service Fees”).

 

(a)       The
Company shall reimburse PST for all reasonable and documented expenses incurred by PST (including, without limitation, reasonable and
documented fees and disbursements of counsel) in connection with the Services (the “Expenses”); provided, however,
that PST reserves the right to request advance payment for any out-of-pocket expenses. The Company agrees to pay all Service Fees and
Expenses within thirty (30) days following receipt of an invoice from PST.

 

(b)       The
Company agrees and acknowledges that PST may adjust the Service Fees annually, on or about each anniversary date of this Agreement, by
the annual percentage of change in the latest Consumer Price Index of All Urban Consumers United States City Average, as published by
the U.S. Department of Labor, Bureau of Labor Statistics.

 

(c)       Upon
termination of this Agreement for any reason, PST shall assist the Company with the transfer of records of the Company held by PST. PST
shall be entitled to reasonable additional compensation and reimbursement of any Expenses for the preparation and delivery of such records
to the successor agent or to the Company, and for maintaining records and/or Stock Certificates that are received after the termination
of this Agreement (the “Record Transfer Services”).

 

    12 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

 

	 	AGORA DIGITAL HOLDINGS, INC.
	 	 	 	 
	 	By:	 
	 	 	Name: 	        
	 	 	Title: 	 
	 	 	 	 
	 	PHILADELPHIA STOCK TRANSFER INC.
	 	 	 	 
	 	By:	 
	 	 	Name: 	                   
	 	 	Title: 	 

 

    13 

     

    

 

Annex A: Form of Warrant Certificate Request
Notice

 

WARRANT CERTIFICATE REQUEST NOTICE

 

To: Philadelphia Stock Transfer Inc., as Warrant
Agent for Agora Digital Holdings, Inc. (the “Company”)

 

The undersigned Holder of [_______] [_______]
Common Stock Purchase Warrants (“Warrants”) in the form of [_______] [_______] Global Warrants issued by the Company hereby
elects to receive a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

 

	1.	Name of Holder of [_______] [_______] Warrants in form of Global Warrants: ___________________________

 

	2.	Name of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global
Warrants): ________________________________

 

	3.	Number of Warrants in name of Holder in form of Global Warrants: ___________________

 

	4.	Number of Warrants for which Warrant Certificate shall be issued: __________________

 

	5.	Number of Warrants in name of Holder in form of Global Warrants after issuance of
Warrant Certificate, if any: ___________

 

	6.	[_______] [_______] Warrant Certificate shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

 

The undersigned hereby acknowledges and agrees
that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate, the Holder is deemed to have surrendered the
number of Warrants in form of Global Warrants in the name of the Holder equal to the number of Warrants evidenced by the Warrant Certificate.

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity: ____________________________________________________

 

Signature of Authorized Signatory of Investing Entity: ______________________________

 

Name of Authorized Signatory: ________________________________________________

 

Title of Authorized Signatory: _________________________________________________

 

Date: _______________________________________________________________

 

    14 

     

    

 

Exhibit 1-A: Form of Warrant Certificate

  

    15 

     

    

 

Schedule 1

 

Fees

 

	Monthly Warrant Administration Fee (per Warrant Issue)	 	 	$____.00	 
	 	 	 	 	 
	EXCHANGE OF WARRANTS INTO COMMON SHARES	 	 	 	 
	Per Manual Exercise of Warrants (until established on DTC WARR System)	 	 	$____.00	 

 

SPECIAL SERVICES

 

Services not included herein (including, without
limitation, trustee and custodial services, exchange/tender offer services and stock dividend disbursement services) but requested by
the Company may be subject to additional charges.

 

Out-of-pocket Expenses

 

All customary out-of-pocket expenses will be billed
in addition to the foregoing fees. These charges include, but are not limited to, printing and stationery, freight and materials delivery,
postage and handling.

 

The foregoing fees apply to services ordinarily
rendered by PST and are subject to reasonable adjustment based on final review of documents.

 

 

16Exhibit 10.8

 

SURFACE
SITE LEASE

 

	STATE OF TEXAS	§
	 	§
	[*]	§

 

For
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, CROWNROCK, L.P., (hereinafter referred to
as “Lessor”), with an address of P.O. Box 52507, Midland, Texas 79710, hereby leases and lets to BitStream Mining, LLC,
whose mailing address is 470 S. Main Street, Suite 400, San Antonio, Texas 78006 (hereinafter referred to as “Lessee”),
a lease to a tract of land measuring no more than twenty (20) acres, being twelve hundred feet (1200’) in length by seven hundred twenty-six
feet (726’) in width (the “Surface Site’) to construct, operate, maintain, inspect, test, protect, repair, replace, alter and remove
(i) [*]

 

                                                                              ,
as shown on Exhibit “A” attached hereto and made a part hereof, for housing/handling computing and communication
hardware together with servers, racks, network connectivity infrastructure, storage infrastructures, monitoring structures, security
devices, cooling and air flow systems and fire protection equipment as may reasonably be necessary for Lessee’s operation and
maintenance of said [*]           and (ii) an area measuring twenty feet (20’) by
five thousand five hundred fifty-four feet (5,554’) for a road (“Road”) to access said
[*]        , and in connection therewith, to remove trees, vegetation and undergrowth,
subject to the following terms, provisions and limitations.

 

The Surface Site and Road shall be

 

	1.	Construction.
                                            Lessee may have ingress and egress to the Surface Site using existing roads only to access
                                            the Surface Site, this lease shall not authorize Lessee to utilize any other portion of the
                                            Lessor’s property, and all construction, use and maintenance activities shall take
                                            place within the boundaries of the surface site and workspace described herein.

 

	2.	Purpose
                                            of Surface Site and Road. It is understood between Lessor and Lessee that this Surface
                                            Site Lease is granted for the purpose of allowing Lessee to handle distribution of telecommunication
                                            and computation work. No additional or other use of this lease is authorized without the
                                            Lessor’s prior written consent. Lessee acknowledges that any additional or other use
                                            (to which Lessor might consent), would constitute an increase of the burden upon Lessor’s
                                            estate, and that Lessor shall be entitled to additional compensation for the same, at a rate
                                            to be negotiated by Lessor and Lessee at the time any such additional or other use is authorized.

 

	3.	Term
                                            and Termination of Lease.

 

This
Surface Site Lease is granted for a term of ten (10) years (hereinafter referred to as “Initial term”) from the date of final
execution hereof with an additional term of ten (10) years (hereinafter referred to as “2nd term”). If the Surface
Site and Road ceases to be used or maintained for any period of twelve (12) consecutive months (excluding periods of force majeure),
the lease shall ipso facto terminate and all rights hereunder shall revert to Lessor. Within one hundred and eighty (180) days from the
termination of this lease, Lessee shall remove all of Lessee’s property located on the surface of the ground and shall either
remove all equipment and related services. The surface shall be restored to its original condition as near as reasonably practical. Notwithstanding
anything contained herein, Lessee agrees to commence the construction of its [*]              within twelve (12) months of the date of this Surface
Site Lease; provided, however, if Lessee fails to commence the construction of [*]              within such twelve (12) month period, then this Surface
Site Lease shall automatically terminate.

 

If
Lessee fails to remove the equipment and related property and restore the surface in accordance with the provisions of this Surface
Site Lease within one hundred and eighty (180) days from the termination of this lease, Lessor shall be entitled to take ownership
of or remove the equipment and restore the surface to its original condition as nearly as practical or contract with a third party
to conduct such work. Lessee shall immediately, upon receipt of an invoice or statement from Lessor, reimburse Lessor for any
reasonable removal and restoration costs incurred by Lessor in connection with this Surface Site Lease.

 

     

     

    

 

	4.	Compensation. Lessee shall pay
to Lessor in consideration for this Surface Site Lease ([*]            
and road) during Initial term (i) three (3%) percent royalty on all gross electricity
used indexed to the West Hub as posted by The Electric Reliability Council of Texas (ERCOT), (ii) no negative prices shall be
deducted from royalty payments, (iii) a floor of zero per kw-hour and (iv) payments made monthly to Lessor by Lessee. During
2nd term (i) three (3%) percent royalty on gross electricity used indexed to the West Hub as posted by EROCT, (ii) no
negative prices shall be deducted from royalty payments and the floor for electrical prices shall be $0.00/ MWh, (iii) a minimum
usage of seven thousand three hundred (7,300) MWh per month and (iv) payments made monthly to Lessor by Lessee. If the West Hub
index posted by ERCOT ceases to be posted or published, the parties shall mutually agree to a similar hub to replace the West
Hub.

 

	5.	Assignment.
                                            Lessee may assign not less than all of its rights in this Surface Site Lease, provided such
                                            assignment shall not relieve Lessee of its obligation herein to indemnify Lessor for claims
                                            to the extent they arise from Lessee’s operations in the lease prior to such assignment.
                                            Nothing herein shall authorize Lessee to allow any third party to use any part of the property
                                            covered by this lease for any purpose. In the event Lessee shall assign this lease, Lessee
                                            shall give Lessor or Lessor’s successors in title written notice of such assignment
                                            and provide a copy of such assignment within 30 days of such assignment.

 

	6.	Taxes
                                            and Other Fees. Lessee shall pay any ad valorem taxes and all other fees and assessments
                                            attributable to the surface site and equipment located thereon before such become delinquent.

 

	7.	Notice
                                            to Lessor. Except in the case of emergency, Lessee shall notify Lessor at least twenty-four
                                            (24) hours before any construction or maintenance operations are to commence on the premises
                                            by Lessee or its contractors or sub-contractors.

 

	8.	Damages.
    The compensation paid by Lessee upon execution and delivery of this Surface Site Lease are as stated above within paragraph 4 and
    shall encompasses all typical and reasonable surface and other damages occasioned (or to be occasioned) by the construction of [*]
              . In connection with atypical or extraordinary damages incurred during
    the construction of the [*]           or future operations by Lessee on the Surface
    Site, Lessee shall be liable for any actual damage to Lessor’s property, including livestock, improvements, rangeland, crops,
    trees and water sources and facilities to the extent arising out of Lessee’s and Lessee’s employees’, contractors’
    and agents’ use, construction, maintenance, operation or removal of the [*]          
    Lessee agrees to pay Lessor for such damages within thirty (30) days of the occurrence of such damages.

 

	9.	Fences
                                            and Gates. Lessee may install a fence around the perimeter of the Surface Site. If Lessee
                                            cuts any of Lessor’s fences in its construction or maintenance operations, Lessee shall
                                            secure the fence with “H” braces and rebuild it (utilizing similar materials)
                                            to as good or better condition as it was prior to the construction of [*]           .
                                            Lessee shall be allowed to construct substantial gates at any fence crossings. All gates
                                            shall be kept closed at all times when vehicles are not passing through, and all gates in
                                            Lessor’s exterior fences shall also remain locked. Such exterior gates shall be equipped
                                            with multiple locking devices so as to provide separate locks for Lessor and Lessee. Gates
                                            constructed by Lessee as referenced above shall be maintained in good operating condition
                                            by Lessee for so long as this Surface Site Lease remains in force, and will become the property
                                            of Lessor when this Surface Site Lease terminates.

 

	10.	Lessee
                                            shall not have any right to drill any type of water well from Lessors lands or Surface Site
                                            Lease. Lessee shall not have any right to use water from Lessor’s stock tanks, streams or
                                            lakes. Lessee shall not have any right to transport any water other than Lessor’s, over,
                                            across or under Lessor’s lands or Surface Site Lease without Lessor’s written consent. Lessor
                                            does agree to sell to Lessee water at a rate of fifty cents ($.50) per barrel. Lessor agrees
                                            to meter all water used and build a pipeline to Lessee.

 

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	11.	Restoration
                                            of Surface. Any soil contaminated by Lessee with Hazardous Materials (as defined in  Section
                                            13) shall be removed and replaced with good topsoil. Lessee shall keep the premises occupied
                                            by this Surface Site Lease clear of all trash.

 

	12.	No
                                            Facilities. No housing structures or disposal sites shall be placed on the premises under
                                            any circumstances.

 

	13.	No
                                            Firearms. Lessee and its agents, employees, contractors, subcontractors, or guests shall
                                            not be permitted to carry any firearms on the property, nor to hunt or have any dogs thereon.

 

	14.	Contamination
    and Compliance with Environmental Laws. ln its construction, maintenance and operation of [*]            authorized
    by this agreement, Lessee agrees to cause all its employees, agents, contractors, or any other persons present on the premises in
    connection with Lessee’s operation of [*]              constructed
    hereunder to comply with all applicable Environmental Laws.

 

	15.	Breach
                                            of Environmental Laws. In the event Lessee is in breach of any of its covenants or agreements
                                            as set forth above, Lessee, to the extent any damage is caused by Lessee, at its sole expense,
                                            shall take all action required, including environmental cleanup, to comply with the representations,
                                            warranties, and covenants herein or applicable legal requirements and, in any event, shall
                                            take all action deemed necessary under all applicable Environmental Laws. Lessor shall have
                                            the right, but not the obligation, to advise appropriate governmental authorities of any
                                            environmental condition that constitutes or may constitute a breach of Lessee’s obligations
                                            hereunder, and to take all actions deemed necessary under applicable Environmental Laws.
                                            In exercising this right, Lessor does not waive any rights to recover from Lessee, who to
                                            the extent Lessee bears responsibility for such costs.

 

	16.	Indemnification.

 

TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, LESSEE, ITS SUCCESSORS AND ASSIGNS, AGREES TO INDEMNIFY, PROTECT, DEFEND AND HOLD HARMLESS
LESSOR AND LESSOR’S REPRESENTATIVES, AGENTS, SURFACE LESSEES, SUCCESSORS AND ASSIGNS (COLLECTIVELY, “INDEMNITEES”) FOR, FROM
AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES, LIABILITIES, LIENS, FINES, PENALTIES, CAUSES OF ACTION, SUITS, CHARGES, JUDGMENTS, ADMINISTRATIVE
ORDERS, REMEDIATION REQUIREMENTS, ENFORCEMENT ACTIONS OF ANY KIND, AND ALL COSTS AND EXPENSES INCURRED IN CONNECTION THEREWITH (INCLUDING,
BUT NOT LIMITED TO, ATTORNEYS’ FEES AND EXPENSES, INCLUDING ALL ATTORNEY’S FEES AND EXPENSES INCURRED IN ENFORCING THIS INDEMNITY) OF
ANY NATURE, KIND OR DESCRIPTION OF ANY PERSON OR ENTITY, BUT ONLY TO THE EXTENT CAUSED BY THE ACTIONS OF LESSEE IN UTILIZING THE SURFACE
SITE LEASE, OR ANY ACT OR OMISSION OF LESSEE, ANY CONTRACTOR, SUBCONTRACTOR, ANYONE DIRECTLY OR INDIRECTLY EMPLOYED BY THEM, OR ANYONE
THAT THEY CONTROL OR EXERCISE CONTROL OVER (COLLECTIVELY, “LIABILITIES”), AND EXCLUDING SUCH LIABILITIES TO THE EXTENT THEY
ARISE FROM OR ARE ATTRIBUTED TO THE NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY INDEMNITEE. LESSOR SHALL PROMPTLY ADVISE LESSEE OF ANY ACTION,
ADMINISTRATIVE OR LEGAL PROCEEDING OR INVESTIGATION TO WHICH THIS INDEMNIFICATION MAY APPLY, AND OF WHICH LESSOR HAS RECEIVED NOTICE,
AND LESSEE AT LESSEE’S EXPENSE, SHALL ASSUME ON BEHALF OF LESSOR (AND THE OTHER INDEMNITEES) AND CONDUCT WITH DUE DILIGENCE AND IN GOOD
FAITH THE DEFENSE THEREOF WITH COUNSEL REASONABLY SATISFACTORY TO LESSOR; PROVIDED, HOWEVER, THAT ANY INDEMNITEE SHALL HAVE THE RIGHT,
AT ITS OPTION, TO BE REPRESENTED THEREIN BY COUNSEL OF ITS OWN SELECTION AND AT ITS OWN EXPENSE. THIS INDEMNIFICATION OBLIGATION SHALL
SURVIVE TERMINATION OF THIS AGREEMENT.

 

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	17.	Additional
                                            Indemnification. LESSEE, ITS SUCCESSORS AND ASSIGNS, SHALL, INDEMNIFY, DEFEND AND
                                            HOLD LESSOR, ITS SHAREHOLDERS, MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, AFFILIATES, SUCCESSORS
                                            AND ASSIGNS, HARMLESS FROM AND AGAINST ALL CLAIMS TO THE EXTENT ARISING OUT OF OR RESULTING
                                            FROM LESSEE’S (i) FAILURE TO COMPLY WITH ALL APPLICABLE LOCAL, FEDERAL AND/OR STATE
                                            ENVIRONMENTAL LAWS, INCLUDING BUT LIMITED TO THE RESOURCE CONSERVATION AND RECOVERY ACT (RCRA)
                                            AND THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT (CERCLA) (AS
                                            THEY MAY BE REAUTHORIZED AND/OR AMENDED) AND ALL OTHER LOCAL, FEDERAL AND STATE LAWS, IN
                                            CONSTRUCTING, RECONSTRUCTING, INSPECTING, PATROLLING, OPERATING, MAINTAINING AND REMOVING
                                            ITS EQUIPMENT ON THE SURFACE SITE, OR (ii) HANDLING, STORING, RELEASING OR TRANSPORTING
                                            OR DISPOSING OF ALL SUBSTANCES, INCLUDING BUT NOT LIMITED TO HAZARDOUS SUBSTANCES AND HAZARDOUS
                                            WASTES, ON OR FROM THE SURFACE SITE OR ANY OTHER LANDS OF LESSOR, PROVIDED HOWEVER, LESSEE
                                            SHALL NOT BE REQUIRED TO PROVIDE INDEMNIFICATION HEREUNDER TO THE EXTENT OF THE NEGLIGENCE
                                            OR WILLFUL MISCONDUCT OF LESSOR, ITS SHAREHOLDERS, MEMBERS, MANAGERS, OFFICERS, EMPLOYEES,
                                            AGENTS, REPRESENTATIVES OR AFFILIATES.

 

	18.	Reservation
                                            of Use of Property. Lessor will not change the grade of or plant trees or install structures,
                                            ponds or other obstructions on the Surface Site. This lease is made subject to any and all
                                            existing easements, prescriptive rights, rights-of-way, leases, including valid oil, gas,
                                            and mineral leases, subleases, licenses, and permits affecting the property covered by this
                                            lease, or any part thereof, which are of record, and all presently recorded matters that
                                            affect the property covered by this lease. Lessor further reserves the right to grant future
                                            easements, leases and subleases covering the property surrounding and under this Surface
                                            Site Lease or any part thereof to the extent the same do not unduly interfere with Lessee’s
                                            rights hereunder.

 

	19.	Memorandum.
                                            The parties hereto elect not to record this Surface Site Lease, and agree to execute a recording
                                            memorandum as shown on Exhibit “B”, which Lessee can file of record. The consideration
                                            paid to Lessor by Lessee for this lease shall be kept confidential, and Lessor agrees not
                                            to disclose the same to any third parties without Lessee’s prior written consent.

 

	20.	No
                                            Warranty. This Surface Site Lease is granted by Lessor without warranty of title, express
                                            or implied, and without warranty or representation as to the condition of the property covered
                                            by this lease.

 

	21.	Applicable
                                            Law. This Surface Site Lease shall be construed and enforced in accordance with the laws
                                            of the State of Texas. Venue for any cause of action for enforcement of this lease
                                            shall be in [*]           , Texas.

 

	22.	Counterparts.
                                            This Surface Site Lease may be signed in counterparts and all such counterparts shall be
                                            deemed originals and be binding upon each party executing any counterpart and upon their
                                            respective heirs, representatives, successors and assigns.

 

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	23.	Entire
                                            Agreement. This Surface Site Lease contains the entire agreement between the parties
                                            and there are not any other representations or statements, verbal or written, that have been
                                            made, modifying, adding to, or changing the terms of this lease.

 

	24.	Notice
                                            of Default. No failure to comply with any covenant on the part of Lessee shall be construed
                                            as a breach of this Surface Site Lease unless and until written notice has first been given
                                            to Lessee that Lessor believes Lessee has failed to comply with such covenant, setting out
                                            the grounds therefore, and Lessee then fails to correct such failure within fifteen (15)
                                            days after receipt of such notice.

 

	25.	Audit.
                                            Each Party will have the right at all reasonable times during the term of this Agreement
                                            to audit the books and records of the other Party, including the ability to make and retain
                                            copies of the same, to the extent reasonably necessary to verify performance under the terms
                                            and conditions of the Agreement, including, without limitation, toe accuracy of any statement,
                                            allocation, measurement, computation, charge, or payment made under or pursuant to this Agreement,
                                            providing that the auditing Party will protect the confidentiality of the books and records
                                            made available by the other Party. Additionally, each Party reserve the right to perform
                                            site inspections or carry out field visits of the assets and related measurement equipment
                                            being audited. The Parties shall agree in good faith on a mutually acceptable time and location
                                            to commence any audit initiated under the terms of this Section, and such audit shall be
                                            performed in reasonable accommodations at the relevant offices or other work locations of
                                            the Party to be audited. The Party subject to the audit shall respond to all exceptions and
                                            claims of discrepancies within sixty (60) days of receipt thereof. The accuracy of any statement,
                                            allocation, measurement, computation, charge, or payment or other determination of any kind
                                            made pursuant to this Agreement shall be conclusively presumed to be correct after the end
                                            of the twenty-four (24) months Period next following the end of the calendar year in which
                                            the statement, allocation, measurement, computation, charge, or payment or other determination
                                            was made if not challenged (claimed) in writing prior to thereto.

 

Billing
Adjustments. Each Party must promptly notify the other Party of any overcharges or undercharges that are discovered after payment has
been made. Within 30 days of such notice, either party will refund or pay the amount of any overcharge or undercharge.

 

[Signatures
on Next Page]

 

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EXECUTED this 9th day of December, 2021.

 

	 	LESSOR:
	 	 
	 	CROWNROCK, L.P.,
	 	 
	 	By:	CrownRock GP, LLC, its general partner
	 	 	 
	 	By:	/s/ Robert W. Floyd
	 	 	Robert W. Floyd, President 
	 	 	 
	 	LESSEE:
	 	 	 
	 	By:	BITSTREAM MINING, LLC
	 	 	 
	 	By:	/s/ M. Britt Swann
	 	 	M. Britt Swann, President

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF MIDLAND	§

 

This instrument was acknowledged before me on this 10 day of December, 2021, by Robert W. Floyd, as
President of CrownRock GP, LLC, as General Partner of CrownRock, LP, a Delaware limited partnership, on behalf of said limited
liability company and said limited partnership.

 

	 	 	 	
	My Commission Expires:	8/4/2024	 	Notary Public in and for said county and state

 

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF KENDALL	§

 

The
foregoing instrument was acknowledged before me this 9 day of December, 2021 by M. BrittSwann, as President of Bit Stream
Mining LLC, a Texas limited liability company, on behalf of said company.

 

	 	 	 	
	My Commission Expires:	9/12/2023	 	Notary Public in and for said county and state

 

 

 

     

     

    

 

Exhibit A – Illustration of the Surface Site and Road

 

Exhibit B – Memorandum of Surface Site Lease

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