Document:

Exhibit 10.1

 

AMENDED
AND RESTATED

STOCKHOLDER
AND REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED STOCKHOLDER AND REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of October 23, 2021,
by and among Big Cypress Acquisition Corp., a Delaware corporation (the “Company”), Big Cypress Holdings LLC, a Delaware
limited liability company (the “Sponsor”), Ladenburg Thalmann & Co. Inc. (together with employees of Ladenburg
listed on the signature page hereof, “Ladenburg”), and each of the Persons listed on Schedule A hereto, together
with any of such Persons’ Permitted Transferees that have been assigned such Persons’ rights in accordance with the terms
of this Agreement, including the Sponsor Members (each, a “Holder” and collectively, the “Holders”).

 

RECITALS

 

WHEREAS,
the Company, SAB Biotherapeutics, Inc., a Delaware corporation (“SAB”), and Big Cypress Merger Sub Inc., a Delaware
corporation (“Merger Sub”), have entered into that certain Agreement and Plan of Merger (the “Merger Agreement”),
pursuant to which (and subject to the terms and conditions set forth therein) Merger Sub will merge with and into SAB, with SAB being
the surviving corporation (the “Merger”);

 

WHEREAS,
the Company, the Sponsor and Ladenburg (collectively with the Sponsor, the “Existing Holders”) are parties to that
certain Registration Rights Agreement, dated as of January 11, 2021 (the “Existing Registration Rights Agreement”);

 

WHEREAS,
pursuant to Section 5.5 of the Existing Registration Rights Agreement, the provisions, covenants and conditions set forth therein may
be amended or modified by the written consent of the Company and the Holders (as defined in the Existing Registration Rights Agreement)
of at least a majority-in-interest of the Registrable Securities (as defined in the Existing Registration Rights Agreement) at the time
in question; and

 

WHEREAS,
the Company and the Existing Holders desire to amend and restate the Existing Registration Rights Agreement pursuant to Section 5.5 thereof,
in order to provide the Holders with registration rights with respect to the Registrable Securities on the terms set forth herein.

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

    	 

    	 

    

 

ARTICLE
1

DEFINITIONS

 

Section
1.1. Definitions. The terms defined in this Article 1 shall, for all purposes of this Agreement, have the respective meanings
set forth below:

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment
of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (a) would
be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not
to contain any Misstatement, (b) would not be required to be made at such time if the Registration Statement were not being filed, declared
effective or used, as the case may be, and (c) the Company has a bona fide business purpose for not making such information public.

 

“Affiliate”
shall mean, with respect to any specified Person, any Person that, directly or indirectly, controls, is controlled by, or is under common
control with, such specified Person, through one or more intermediaries or otherwise.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Automatic
Shelf Registration Statement” shall mean an “automatic shelf registration statement” as defined in Rule 405 under
the Securities Act.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Claims”
shall have the meaning given in Section 5.1(a).

 

“Closing
Date” shall mean the Closing Date as defined in the Merger Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Commission
Guidance” shall mean (a) any publicly-available written or oral guidance of the Commission staff or any comments, requirements
or requests of the Commission staff and (b) the Securities Act.

 

“Common
Stock” shall mean the Company’s Common Stock, par value $0.0001 per share.

 

“Company”
shall have the meaning given in the Preamble.

 

“Demanding
Holder” shall have the meaning given in Section 2.1(d).

 

“Earnout
Shares” has the meaning ascribed to such term in the Merger Agreement.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Existing
Holders” shall have the meaning given in the Recitals hereto.

 

“Existing
Registration Rights Agreement” shall have the meaning given in the Recitals hereto.

 

“Form
S-1” shall mean a registration statement on Form S-1 or any similar long-form registration statement that may be available
at such time.

 

“Form
S-1 Shelf” shall have the meaning given in Section 2.1(b).

 

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“Form
S-3” shall mean a registration statement on Form S-3 or any similar short form registration statement that may be available
at such time, and if the Company is a WKSI, such Form S-3 may be an Automatic Shelf Registration Statement.

 

“Form
S-3 Shelf” shall have the meaning given in Section 2.1(b).

 

“Founder
Shares” shall mean shares of Common Stock issued or issuable to the Holders prior to the consummation of the Merger.

 

“Holder
Information” shall have the meaning given in Section 3.3.

 

“Holders”
shall have the meaning given in the Preamble.

 

“Lock-Up”
shall have the meaning given in Section 6.1.

 

“Lock-Up
Parties” shall mean the Holders (other than Ladenburg) and their respective Permitted Transferees.

 

“Lock-Up
Period” shall mean the period beginning on the Closing Date and ending on the date that is one hundred eighty (180) days after
the Closing Date.

 

“Lock-Up
Shares” shall mean the shares of Common Stock and any other equity securities convertible into or exercisable or exchangeable
for shares of Common Stock held by the Holders immediately following the Closing, Earnout Shares or shares of Common Stock issued with
respect to or in exchange for equity awards on or after the Closing.

 

“Maximum
Number of Securities” shall have the meaning given in Section 2.1(e).

 

“Merger
Agreement” shall have the meaning given in the Recitals hereto.

 

“Minimum
Amount” shall have the meaning given in Section 2.1(d).

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus and any preliminary
prospectus, in the light of the circumstances under which they were made) not misleading.

 

“Other
Coordinated Offering” shall have the meaning given in Section 2.1(g).

 

“Permitted
Transferees” shall mean with respect to each Holder and its Permitted Transferees, (a) prior to the expiration of the Lock-Up
Period, any person or entity to whom such Holder is permitted to transfer such Registrable Securities prior to the expiration of the
Lock-Up Period pursuant to Section 6.1 and (b) after the expiration of the Lock-Up Period, any person or entity to whom such Holder
is permitted to transfer such Registrable Securities, subject to and in accordance with any applicable agreement between such Holder
and/or its Permitted Transferees and the Company and any transferee thereafter.

 

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“Person”
shall mean any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated association, joint
venture, joint stock company, governmental agency or instrumentality or other entity of any kind.

 

“Piggyback
Registration” shall have the meaning given in Section 2.3(a).

 

“Private
Placement Warrants” shall mean the warrants held by certain Holders, purchased by such Holders in the private placement that
occurred concurrently with the closing of the Company’s initial public offering, including any shares of Common Stock issued or
issuable upon conversion or exchange of such warrants.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) any shares of Common Stock issued or issuable upon the consummation of the Merger (including the Earnout
Shares), (b) any Founder Shares, (c) the Private Placement Warrants (and underlying shares of Common Stock), (d) any shares of Common
Stock, or any other equity security (including warrants to purchase shares of Common Stock and shares of Common Stock issued or issuable
(directly or indirectly) upon conversion or exercise of any other equity securities) of the Company, acquired by the Holders after the
consummation of the Merger to the extent that such securities are “restricted securities” (as defined in Rule 144) or are
otherwise held by an “affiliate” (as defined in Rule 144) of the Company and (e) any other equity security of the Company
issued or issuable with respect to any share of Common Stock referred in the forgoing clauses (a) through (d) by way of a stock dividend
or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided,
however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) a
Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (ii) such securities shall
have been otherwise transferred, new certificates for such securities not bearing (or book entry positions not subject to) a legend restricting
further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (iii) such securities shall have ceased to be outstanding; (iv) such securities may be sold without registration
pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but with
no volume or other restrictions or limitations); or (v) such securities have been sold to, or through, a broker, dealer or underwriter
in a public distribution or other public securities transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

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“Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including the following:

 

(a)
all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority,
Inc.) and any securities exchange on which the Common Stock is then listed;

 

(b)
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters
in connection with blue sky qualifications of Registrable Securities);

 

(c)
printing, messenger, telephone and delivery expenses;

 

(d)
reasonable fees and disbursements of counsel for the Company;

 

(e)
reasonable fees and disbursements of counsel for the Sponsor;

 

(f)
reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(g)
in a Shelf Takedown or Other Coordinated Offering, reasonable fees and expenses of one firm of legal counsel selected by the majority-in-interest
of the Demanding Holders initiating such Shelf Takedown or Other Coordinated Offering.

 

“Registration
Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements
to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Removed
Shares” shall have the meaning given in Section 2.2.

 

“Requesting
Holder” shall have the meaning given in Section 2.1(e).

 

“SAB”
shall have the meaning given in the Recitals.

 

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

 

“Shelf
Registration Statement” shall have the meaning given in Section 2.1(a).

 

“Shelf
Takedown” shall have the meaning given in Section 2.1(d).

 

“Shelf
Takedown Block Trade” shall have the meaning given in Section 2.1(g)(i).

 

“Sponsor”
shall have the meaning given in the Preamble.

 

“Sponsor
Members” shall mean members or affiliates of the Sponsor who hold Registrable Securities, including members of the Sponsor
who receive Registrable Securities upon the dissolution of Sponsor and become Holders hereunder in accordance with Section 7.2.

 

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“Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of the Exchange Act and the rules and regulations
of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled
by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified
in clause (a) or (b).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities of the Company are
sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

“Withdrawal
Notice” shall have the meaning given in Section 2.1(f).

 

“WKSI”
shall mean a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act.

 

ARTICLE
2

REGISTRATIONS

 

Section
2.1. Shelf Registration.

 

(a)
The Company shall, within forty-five (45) calendar days after the Closing Date, file a Registration Statement under the Securities Act
to permit the public resale of all Registrable Securities held by the Holders from time to time as permitted by Rule 415 under the Securities
Act or any successor rule thereto (a “Shelf Registration Statement”), on the terms and conditions specified in this
Section 2.1(a) and shall use its best efforts to cause such Shelf Registration Statement to be declared effective as soon as practicable
after the filing thereof, but not later than (i) the 90th calendar day following the filing date if the Commission notifies
the Company that it will “review” the Shelf Registration Statement, and (ii) the 10th business day after the date
the Company is notified (orally or in writing, whichever is earlier) by the Commission that the Shelf Registration Statement will not
be “reviewed” or will not be subject to further review. The Shelf Registration Statement filed with the Commission pursuant
to this Section 2.1(a) shall be on Form S-1 or, if the Company is eligible to use Form S-3, then on Form S-3 or such other form
of registration statement as is then available to effect a registration for resale of such Registrable Securities, and shall contain
a Prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415 under the Securities Act (or
any successor or similar provision adopted by the Commission then in effect) at any time beginning on the effective date for such Registration
Statement. A Registration Statement filed pursuant to this Section 2.1(a) shall provide for the resale pursuant to any method
or combination of methods legally available to, and requested by, the Holders. The Company shall use its commercially reasonable efforts
to cause a Registration Statement filed pursuant to this Section 2.1(a) to remain effective, and to be supplemented and amended
to the extent necessary to ensure that such Registration Statement is available or, if not available, that another Registration Statement
is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased
to be Registrable Securities. When effective, a Registration Statement filed pursuant to this Section 2.1(a) (including the documents
incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities
Act and the Exchange Act and will not contain a Misstatement. The Company’s obligations under this Section 2.1(a), shall
for the avoidance of doubt, be subject to Section 2.4 and Section 3.4.

 

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(b)
If the Company files a Shelf Registration Statement on Form S-3 (a “Form S-3 Shelf”) and thereafter the Company becomes
ineligible to use Form S-3 for secondary sales, the Company shall use its commercially reasonable efforts to file a Shelf Registration
Statement on Form S-1 (a “Form S-1 Shelf”) as promptly as practicable to replace the Form S-3 Shelf and have the Form
S-1 Shelf declared effective as promptly as practicable and to cause such Form S-1 Shelf to remain effective, and to be supplemented
and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another Registration
Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have
ceased to be Registrable Securities. Upon such date as the Company becomes eligible to use Form S-3 for secondary sales or, in the case
of a Form S-1 Shelf filed to register the resale of Removed Shares pursuant to Section 2.2, upon such date as the Company becomes
eligible to register all of the Removed Shares for resale on a Form S-1 Shelf pursuant to the Commission Guidance and, if applicable,
without a requirement that any of the Holders be named as an “underwriter” therein, the Company shall use its commercially
reasonable efforts to file a Form S-3 Shelf as promptly as practicable to replace the applicable Form S-1 Shelf to remain effective,
and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available,
that another Registration Statement is available, for the resale of all the Registrable Securities thereunder held by the applicable
Holders until all such Registrable Securities have ceased to be Registrable Securities. The Company’s obligations under this Section
2.1(b), shall for the avoidance of doubt, be subject to Section 2.4 and Section 3.4.

 

(c)
Additional Registrable Securities. Subject to Section 2.4 and Section 3.4, in the event that any Holder holds Registrable
Securities that are not registered for resale on a delayed or continuous basis, the Company, upon written request of the Holder, shall
promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at the Company’s
option, any then available Shelf Registration Statement (including by means of a post-effective amendment) or by filing a subsequent
Shelf Registration Statement and cause the same to become effective as soon as practicable after such filing and such Shelf Registration
Statement shall be subject to the terms hereof; provided, however, that the Company shall only be required to cause such
Registrable Securities to be so covered twice per calendar year for each of the Holders.

 

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(d)
Underwritten Shelf Takedown. Subject to Section 2.4 and Section 3.4, at any time that a Shelf Registration Statement
is effective, a Holder of at least 30% of the then-outstanding number of Registrable Securities, any of the Sponsor Members or the Sponsor
(such Holder or the Sponsor in such capacity, a “Demanding Holder”) may request to sell all or part of its Registrable Securities
in an Underwritten Offering that is registered pursuant to the Shelf Registration Statement (an “Underwritten Shelf Takedown”);
provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown for a Holder of at least 30% of the
then-outstanding number of Registrable Securities if such offering shall include Registrable Securities proposed to be sold by such Demanding
Holder, either individually or together with other Demanding Holders, yielding aggregate gross proceeds in excess of $30,000,000 (based
on then-current market prices) (the “Minimum Amount”). All requests for Underwritten Shelf Takedowns shall be made
by giving written notice to the Company, which shall specify the number of Registrable Securities to be offered and sold under the Shelf
Takedown. The Company shall have the right to select the Underwriter for such offering (which shall consist of one or more reputable
nationally recognized investment banks). Notwithstanding the foregoing, (i) the Sponsor and the Sponsor Members (taken together) and
(ii) the other Demanding Holders (taken together) may each demand not more than one (1) Underwritten Shelf Takedowns, in each case pursuant
to this Section 2.1(d) in any twelve (12) month period, for an aggregate of not more than three (3) Underwritten Shelf Takedowns
pursuant to this Section 2.1(d) in any twelve (12) month period. The Company may effect any Underwritten Offering pursuant to
any then effective Registration Statement that is then available for such offering.

 

(e)
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith,
advises the Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such
Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or number of Registrable
Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other shares of Common
Stock or other equity securities that the Company desires to sell and all other shares of Common Stock or other equity securities, if
any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual piggy-back registration
rights held by any other stockholders, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the
Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability
of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number
of Securities”), then the Company shall include in such Underwritten Offering, before including any shares of Common Stock or other
equity securities proposed to be sold by Company or by other holders of Common Stock or other equity securities, the Registrable Securities
of (i) first, the Demanding Holders that can be sold without exceeding the Maximum Number of Securities (pro rata based on the respective
number of Registrable Securities that each Demanding Holder has requested be included in such Underwritten Shelf Takedown and the aggregate
number of Registrable Securities that all of the Demanding Holders have requested be included in such Underwritten Shelf Takedown) and
(ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Requesting
Holders (if any) (pro rata based on the respective number of Registrable Securities that each Requesting Holder (if any) has requested
be included in such Underwritten Shelf Takedown and the aggregate number of Registrable Securities that all of the Requesting Holders
have requested be included in such Underwritten Shelf Takedown) that can be sold without exceeding the Maximum Number of Securities.

 

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(f)
Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing
such Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have
the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal
Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Underwritten
Shelf Takedown; provided that the remaining Demanding Holders may elect to have the Company continue an Underwritten Shelf Takedown
if the Minimum Amount would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten Shelf Takedown by
such Holders. If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an Underwritten Shelf Takedown
by the withdrawing Demanding Holder for purposes of Section 2.1(d), unless either (i) such Demanding Holder has not previously
withdrawn any Underwritten Shelf Takedown or (ii) such Demanding Holder reimburses the Company for all Registration Expenses with respect
to such Underwritten Shelf Takedown (or, if there is more than one Demanding Holder, a pro rata portion of such Registration Expenses
based on the respective number of Registrable Securities that each Demanding Holder has requested be included in such Underwritten Shelf
Takedown); provided that, if the remaining Demanding Holders elect to continue an Underwritten Shelf Takedown pursuant to the
proviso in the immediately preceding sentence, such Underwritten Shelf Takedown shall instead count as an Underwritten Shelf Takedown
demanded by such remaining Demanding Holders, for purposes of Section 2.1(d). Following the receipt of any Withdrawal Notice,
the Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate in such Underwritten Shelf
Takedown. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses
incurred in connection with a Shelf Takedown prior to its withdrawal under this Section 2.1(f), other than if a Demanding Holder
elects to pay such Registration Expenses pursuant to clause (ii) of the second sentence of this Section 2.1(f).

 

(g)
Shelf Takedown Block Trade; Other Coordinated Offering.

 

(i)
Notwithstanding anything to the contrary in Section 2.1(d) but subject to Section 3.4, at any time and from time to time
when an effective Shelf Registration Statement is on file with the Commission, if a Demanding Holder wishes to engage in (i) an underwritten
registered offering not involving a “roadshow,” an offer commonly known as a “block trade” (a “Shelf
Takedown Block Trade”) or (ii) an “at the market” or similar registered offering through a broker, sales agent
or distribution agent, whether as agent or principal (an “Other Coordinated Offering”), in each case, with a total offering
price reasonably expected to exceed, in the aggregate, the Minimum Amount or all of the remaining Registrable Securities held by the
Demanding Holder, then notwithstanding the foregoing time periods, the Demanding Holder needs to notify the Company of the Shelf Takedown
Block Trade or Other Coordinated Offering five business days prior to the day such offering is to commence, and the Company shall use
its commercially reasonable efforts (including cooperating with such Demanding Holder with respect to the provision of necessary information)
to facilitate such Shelf Takedown Block Trade or Other Coordinated Offering (which may close as early as two business days after the
date it commences); provided that the Demanding Holder wishing to engage in such Shelf Takedown Block Trade or Other Coordinated
Offering shall use commercially reasonable efforts to work with the Company and the underwriter(s), brokers, placement agents or sales
agents (if any) (including by disclosing the maximum number of Registrable Securities proposed to be the subject of such Shelf Takedown
Block Trade or Other Coordinated Offering) prior to making such request in order to facilitate preparation of the Registration Statement
and other offering documentation, comfort procedures and due diligence related to such Shelf Takedown Block Trade or Other Coordinated
Offering.

 

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(ii)
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Shelf Takedown
Block Trade or Other Coordinated Offering, the Demanding Holders initiating such Shelf Takedown Block Trade or Other Coordinated Offering
shall have the right to submit a Withdrawal Notice to the Company and the underwriter(s), brokers, placement agents or sales agents (if
any) of their intention to withdraw from such Shelf Takedown Block Trade or Other Coordinated Offering. Notwithstanding anything to the
contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown
Block Trade or Other Coordinated Offering prior to its withdrawal under this Section 2.1(g).

 

(iii)
Notwithstanding anything to the contrary in this Agreement, Section 2.3 shall not apply to a Shelf Takedown Block Trade or Other
Coordinated Offering.

 

(iv)
The Demanding Holder in a Shelf Takedown Block Trade or Other Coordinated Offering shall have the right to select the underwriter(s),
brokers, placement agents or sales agents (if any) for such Shelf Takedown Block Trade or Other Coordinated Offering (in each case, which
shall consist of one or more reputable nationally recognized investment banks).

 

(v)
Each of (i) the Sponsor and the Sponsor Members (taken together) and (ii) the other Demanding Holders (taken together) each may demand
not more than two Shelf Takedown Block Trades or Other Coordinated Offerings pursuant to this Section 2.1(g) in any twelve (12)
month period.

 

Section
2.2. Rule 415 – Removal. If at any time the Commission takes the position that the offering of some or all of the Registrable
Securities in a Registration Statement on Form S-3 filed pursuant to Section 2.1 is not eligible to be made on a delayed or continuous
basis under the provisions of Rule 415 under the Securities Act (it being understood that the Company shall be obligated to use diligent
efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the Commission Guidance,
including Compliance and Disclosure Interpretation 612.09) or requires a Holder to be named as an “underwriter,” the Company
shall (a) promptly notify each Holder of Registrable Securities subject to such Registration Statement (or in the case of the Commission
requiring a Holder to be named as an “underwriter,” the Holders) and (b) use reasonable best efforts to persuade the Commission
that the offering contemplated by such Registration Statement is a valid secondary offering and not an offering “by or on behalf
of the issuer” as defined in Rule 415 and that none of the Holders is an “underwriter.” The Holders shall have the
right, at the expense of the Holders, to select one firm of legal counsel designated by the Holders of a majority of the Registrable
Securities subject to such Registration Statement to review and oversee any registration or matters pursuant to this Section 2.2,
including participation in any meetings or discussions with the Commission regarding the Commission’s position and the Company
will consider, in good faith, any comments from such Holders’ counsel to any written submission proposed made by the Company to
the Commission with respect thereto. In the event that, despite the Company’s commercially reasonable efforts and compliance with
the terms of this Section 2.2, the Commission refuses to alter its position, the Company shall, in its sole discretion, (i) remove
from such Registration Statement such portion of the Registrable Securities (the “Removed Shares”) and/or (ii) agree to such
restrictions and limitations on the registration and resale of the Registrable Securities as the Commission may require to assure the
Company’s compliance with the requirements of Rule 415; provided, however, that the Company shall not agree to name
any Holder as an “underwriter” in such Registration Statement without the prior written consent of such Holder. In the event
of a share removal pursuant to this Section 2.2, the Company shall give the applicable Holders at least five days prior written
notice along with the calculations as to such Holder’s allotment. Any removal of shares of the Holders pursuant to this Section
2.2 shall be allocated between the Holders pro rata. In the event of a share removal of the Holders pursuant to this Section 2.2,
the Company shall promptly register the resale of any Removed Shares pursuant to Section 2.1(b) and in no event shall the filing
of such Registration Statement on Form S-1 or subsequent Registration Statement on Form S-3 filed pursuant to the terms of Section
2.1(b) be counted as a Shelf Takedown hereunder. Until such time as the Company has registered all of the Removed Shares for resale
pursuant to Rule 415 on an effective Registration Statement, the Company shall not be able to defer the filing of a Registration Statement
pursuant to Section 2.4.

 

    	10

    	 

    

 

Section
2.3. Piggyback Registration.

 

(a)
Piggyback Rights. If the Company proposes to file a Registration Statement under the Securities Act with respect to an offering
of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for
its own account or for the account of stockholders of the Company other than a Shelf Takedown Block Trade or Other Coordinated Offering
(or by the Company and by the stockholders of the Company), other than a Registration Statement (a) filed in connection with any employee
stock option or other benefit plan, (b) for an exchange offer or offering of securities solely to the Company’s existing stockholders,
including an exchange offer on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or
any successor rule thereto), (c) for an offering of debt that is convertible into equity securities of the Company, or (d) for a dividend
reinvestment plan, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities
as soon as practicable but not less than ten (10) days before the anticipated filing date of such Registration Statement or, in the case
of an Underwritten Offering pursuant to a Shelf Registration Statement, the applicable “red herring” prospectus or prospectus
supplement used for marketing such offering, which notice shall (i) describe the amount and type of securities to be included in such
offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such
offering, and (ii) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable
Securities as such Holders may request in writing within five days after receipt of such written notice (such Registration a “Piggyback
Registration”). Subject to Section 2.4 and Section 3.4, the Company shall, in good faith, cause such Registrable
Securities to be included in such Piggyback Registration and shall use its commercially reasonable efforts to cause the managing Underwriter
or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this Section
2.3(a) to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company or Company
stockholder(s) for whose account the Registration Statement is to be filed included in such Registration and to permit the sale or other
disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing
to distribute their Registrable Securities through an Underwritten Offering under this Section 2.3(a) shall enter into an underwriting
agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company or Company stockholder(s)
for whose account the Registration Statement is to be filed. For purposes of this Section 2.3, the filing by the Company of an
Automatic Shelf Registration Statement for offerings pursuant to Rule 415(a) (if available) that omits information with respect to any
specific offering pursuant to Rule 430B shall not trigger any notification or participation rights hereunder until such time as the Company
amends or supplements such Registration Statement to include information with respect to a specific offering of Registrable Securities
(and such amendment or supplement shall trigger the notice and participation rights provided for in this Section 2.3).

 

    	11

    	 

    

 

(b)
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is to be
a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback
Registration in writing that the dollar amount or number of shares of Common Stock that the Company desires to sell for its own account,
taken together with (a) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual
arrangements with Persons other than the Holders of Registrable Securities hereunder, (b) the Registrable Securities as to which registration
has been requested pursuant to Section 2.3 and (c) the shares of Common Stock, if any, as to which Registration has been requested
pursuant to separate written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number
of Securities, then:

 

(i)
If the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, Common
Stock or other equity securities that the Company desires to sell for its own account, which can be sold without exceeding the Maximum
Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to Section
2.3(a), pro rata, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clauses (A) and (B), the Common Stock, if any, as to which Registration
has been requested pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be
sold without exceeding the Maximum Number of Securities; and

 

(ii)
If the Registration is pursuant to a request by Persons other than the Holders of Registrable Securities, then the Company shall include
in any such Registration (A) first, Common Stock or other equity securities, if any, of such requesting Persons, other than the Holders
of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their
rights to register their Registrable Securities pursuant to Section 2.3(a), pro rata, which can be sold without exceeding the
Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (A) and (B), the Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding
the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clauses (A), (B) and (C), the Common Stock or other equity securities for the account of other Persons that the Company
is obligated to register pursuant to separate written contractual arrangements with such Persons, which can be sold without exceeding
the Maximum Number of Securities.

 

    	12

    	 

    

 

(c)
Piggyback Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw all or a portion of its
Registrable Securities from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the
Underwriter or Underwriters (if any) of his, her or its intention to withdraw such Registrable Securities from such Piggyback Registration
(a) in the case of a Piggyback Registration not involving an Underwritten Offering, the effectiveness of the applicable Registration
Statement or (b) in the case of a Piggyback Registration involving an Underwritten Offering, prior to the pricing of such Underwritten
Offering. The Company (whether on its own good faith determination or as the result of a request for withdrawal by Persons pursuant to
separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback
Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this
Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior
to its withdrawal under this Section 2.3(c).

 

(d)
Unlimited Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to this Section 2.3
shall not be counted as a Registration pursuant to Section 2.1(d).

 

Section
2.4. Restrictions on Registration Rights. The Company shall not be obligated to effect, or to take any action to effect, any Registration
pursuant to Section 2.1(d) or Section 2.3 during the period that is 60 days before the Company’s good faith estimate
of the date of filing of, and ending on a date that is 90 days after the effective date of, a Company-initiated registration, provided,
that the Company is actively employing in good faith commercially reasonable efforts to cause such Registration Statement to become effective.

 

ARTICLE
3

COMPANY
PROCEDURES

 

Section
3.1. General Procedures. Whenever required under this Agreement to effect the Registration of any Registrable Securities, the
Company shall use its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in
accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as reasonably possible:

 

(a)
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and
use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

(b)
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by the Sponsor or any Holder that holds at least 5% of the Registrable Securities registered
on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions
applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended
plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

    	13

    	 

    

 

(c)
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including
all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including
each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such
Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities
owned by such Holders;

 

(d)
prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may reasonably request (or provide evidence satisfactory to such Holder that the Registrable Securities are exempt from such registration
or qualification) and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the
Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

(e)
cause all such Registrable Securities to be listed on each national securities exchange or automated quotation system on which similar
securities issued by the Company are then listed;

 

(f)
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

(g)
if Rule 172 under the Securities Act or any successor provision (“Rule 172”) is unavailable, furnish to each Holder selling
Registrable Securities covered by such Registration Statement such number of conformed copies of the Prospectus contained in such Registration
Statement, and any amendment or supplement thereto (in each case, excluding any amendment or supplement made through incorporation by
reference of ordinary course Exchange Act filings), in conformity with the requirements of the Securities Act, and such other documents
as such Holder may reasonably request, in each case, in order to facilitate the transfer or other disposition of such Registrable Securities;

 

(h)
notify each participating Holder, as soon as practicable after the Company receives notice thereof, but in any event within one business
day of such date, of the time when the Registration Statement has been declared effective and the effectiveness of any post-effective
amendment thereto;

 

    	14

    	 

    

 

(i)
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any
proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain
its withdrawal if such stop order should be issued;

 

(j)
at least five days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (or such shorter period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange
Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as applicable or (b) advisable in order to reduce
the number of days that sales are suspended pursuant to Section 3.4), furnish a copy thereof to each seller of such Registrable
Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference
therein);

 

(k)
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities
Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

(l)
in the event of an Underwritten Offering, a Shelf Takedown Block Trade, an Other Coordinated Offering, or a sale, by a broker, placement
agent or sales agent pursuant to such Registration, permit a representative of the Holders, the Underwriters or other financial institutions
facilitating such Underwritten Offering, Shelf Takedown Block Trade, Other Coordinated Offering, if any, and any attorney or accountant
retained by such Holders, Underwriter or other financial institution to participate, at each such person’s own expense, in the
preparation of the Registration Statement, cause the Company’s officers, directors and employees to supply all information reasonably
requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided, however,
that such representatives or Underwriters, financial institution, attorney or accountant agree to confidentiality arrangements reasonably
satisfactory to the Company, prior to the release or disclosure of any such information;

 

(m)
obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering, a Shelf Takedown Block Trade, an Other Coordinated Offering or a sale by a broker, placement agent or sales agent pursuant
to such Registration (subject to such broker, placement agent or sales agent providing such certification or representation reasonably
requested by the Company’s independent registered public accountants and the Company’s counsel) in customary form and covering
such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request,
and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

    	15

    	 

    

 

(n)
in the event of an Underwritten Offering, a Shelf Takedown Block Trade, an Other Coordinated Offering or a sale by a broker, placement
agent or sales agent pursuant to such Registration, on the date the Registrable Securities are delivered for sale pursuant to such Registration,
obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the participating
Holders, the broker, placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to
the Registration in respect of which such opinion is being given as the Holders, broker, placement agent, sales agent, or Underwriter
may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to
a majority in interest of the participating Holders and any Underwriter;

 

(o)
in the event of any Underwritten Offering, a Shelf Takedown Block Trade, an Other Coordinated Offering or a sale by a broker, placement
agent or sales agent pursuant to such Registration, enter into and perform its obligations under an underwriting agreement or other purchase
or sales agreement, in usual and customary form, with the managing Underwriter or broker, placement agent or sales agent of such offering
or sale;

 

(p)
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months
beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter
by the Commission);

 

(q)
in the event of any Underwritten Offering pursuant to Section 2.1(d), use its reasonable efforts to make available senior executives
of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter
in any Underwritten Offering; and

 

(r)
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in
connection with such Registration.

 

Section
3.2. Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by
the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.

 

Section
3.3. Requirements for Participation in Offerings. Notwithstanding anything in this Agreement to the contrary, if any Holder does
not provide the Company in writing (which may be by e-mail) such information and affidavits as the Company reasonably requests (or cause
to be provided to the Company on its behalf) for use in connection with any such Registration Statement or Prospectus (the “Holder
Information”), the Company may exclude such Holder’s Registrable Securities from the applicable Registration Statement or
Prospectus if the Company determines, based on the advice of counsel, that such information is necessary to effect the registration and
such Holder continues thereafter to withhold such information. No Person may participate in any Underwritten Offering or other offering
for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such Person (a) agrees to sell
such Person’s securities on the basis provided in any underwriting, sales, distribution or placement arrangements approved by the
Company and (b) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting
agreements and other customary documents as may be reasonably required under the terms of such underwriting, sales, distribution or placement
arrangements. The exclusion of a Holder’s Registrable Securities as a result of this Section 3.3 shall not affect the registration
of the other Registrable Securities to be included in such Registration.

 

    	16

    	 

    

 

Section
3.4. Adverse Disclosure; Suspension of Sales.

 

(a)
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until he, she or it has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or
amendment as soon as practicable after the time of such notice), or until he, she or it is advised in writing by the Company that the
use of the Prospectus may be resumed.

 

(b)
If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would (i)
require the Company to make an Adverse Disclosure, (ii) require the inclusion in such Registration Statement of financial statements
that are unavailable to the Company for reasons beyond the Company’s control, (iii) materially interfere with a significant acquisition,
corporate reorganization, or other similar transaction involving the Company, (iv) render the Company unable to comply with requirements
under the Securities Act or Exchange Act or (v) in the good faith judgment of the majority of the Board such Registration, be seriously
detrimental to the Company and the majority of the Board concludes as a result that it is essential to defer such filing, initial effectiveness
or continued use at such time, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or
initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time, determined in good faith by
the Board to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders
agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration
in connection with any sale or offer to sell Registrable Securities until such Holder receives written notice from the Company that such
sales or offers of Registrable Securities may be resumed, and in each, maintain the confidentiality of such notice and its contents.

 

(c)
The right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to Section 3.4
shall be exercised by the Company, in the aggregate, not more than ninety (90) days in any twelve (12)-month period.

 

    	17

    	 

    

 

Section
3.5. Reporting Obligations: As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be
a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange
Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly filed
or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed to have been
furnished or delivered to the Holders pursuant to this Section 3.5. Following such time as Rule 144 is available, the Company
further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell shares of the Common Stock held by such Holder without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter
by the Commission), including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder
a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

Section
3.6. Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
Registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation
of ARTICLE 2 or this ARTICLE 3.

 

ARTICLE
4

OTHER
AGREEMENTS

 

Section
4.1. Limitations on Subsequent Registration Rights. From and after the Closing Date, the Company shall not, without the prior
written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder
or prospective holder of any securities of the Company that (a) would provide to such holder the right to include securities in any registration
on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had
the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include or (b)
allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or prospective holder;
provided, however, that this limitation shall not apply to any additional Holder who becomes a party to this Agreement
in accordance with Section 7.10.

 

Section
4.2. “Market Stand-Off” Agreement.

 

(a)
Each Holder that is an executive officer, director or Holder in excess of 5% of the outstanding Common Stock (and for which it is customary
for such Holder to agree to a lock-up) hereby agrees that, if requested by the managing Underwriter(s), it will not Transfer any shares
of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to this Agreement), without
the prior written consent of the managing Underwriter, during the period commencing on the date of the final prospectus relating to the
Registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement
(other than a Shelf Takedown Block Trade or Other Coordinated Offering), and ending on the date specified by the Company and the managing
Underwriter (such period not to exceed 90 days). Each Holder further agrees to execute such agreements, including a customary lock-up
agreement, as may be reasonably requested by the Underwriters in connection with such Registration that are consistent with this Section
4.2(a), in which case such agreement shall replace and supersede the obligations of this Section 4.2(a) with respect to such
Registration.

 

    	18

    	 

    

 

(b)
In order to enforce the foregoing, the Company may impose stop-transfer instructions with respect to the shares of Common Stock or other
equity securities of the Company of each Holder (and transferees and assignees thereof) until the end of such restricted period.

 

ARTICLE
5

INDEMNIFICATION
AND CONTRIBUTION

 

Section
5.1. Indemnification.

 

(a)
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors and agents
and each Person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
and expenses (including without limitation reasonable and documented outside attorney’s fees) (collectively, “Claims”)
caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not misleading, and the Company will reimburse such Holder
or other Person for any legal or other reasonable and documented expenses reasonably incurred by them in connection with investigating
or defending such Claim, except insofar as the same are caused by or contained in any Holder Information or is based upon an omission
or alleged omission from such Holder Information. The Company shall indemnify the Underwriters, their officers and directors and each
Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with
respect to the indemnification of the Holder.

 

(b)
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
or cause to be furnished to the Company such Holder Information and, to the extent permitted by law, shall indemnify the Company, its
directors, officers and agents and each Person who controls the Company (within the meaning of the Securities Act) against any Claims
resulting from any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary
to make the statements therein not misleading, and such Holder will reimburse the Company or such other Person for any legal or other
reasonable and documented expenses reasonably incurred by them in connection with investigating or defending such Claim, but only to
the extent that such untrue statement or omission is contained in (or not contained in, in the case of an omission) any information or
affidavit so furnished in writing by or on behalf of such Holder expressly for use therein; provided, however, that the
obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each
such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale
of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters,
their officers, directors and each Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to indemnification of the Company.

 

    	19

    	 

    

 

(c)
Any Person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person’s right to indemnification
hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s
reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit
such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense
is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its
consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume
the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such
indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may
exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall,
without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled
in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement)
or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party
of a release from all liability in respect to such claim or litigation.

 

(d)
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer
of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions
as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s
indemnification is unavailable for any reason.

 

(e)
If the indemnification provided under this Section 5.1 from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any Claims referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified
party, shall contribute to the amount paid or payable by the indemnified party as a result of such Claims in such proportion as is appropriate
to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations.
The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any
action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by in the case
of an omission), such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative
intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the
liability of any Holder under this Section 5.1(e) shall be limited to the amount of the net proceeds received by such Holder in
such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred
to above shall be deemed to include, subject to the limitations set forth in Section 5.1(a), Section 5.1(b) and Section
5.1(c), any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding.
The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5.1(e) were determined
by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to
in this Section 5.1(e). No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this Section 5.1(e) from any Person who was not guilty of such fraudulent misrepresentation.

 

    	20

    	 

    

 

ARTICLE
6

LOCK-UP;
BOARD OBSERVER RIGHTS

 

Section
6.1. Lock-Up. Each Lock-Up Party agrees that it shall not, without the consent of the Company, Transfer any Lock-Up Shares prior
to the end of the Lock-Up Period (the “Lock-Up”), subject to the early release provisions set forth in Section
6.5 below. Notwithstanding the foregoing, the provisions of Section 6.1 shall not apply to: (a) Transfers or distributions
to the Lock-Up Party’s current or former general or limited partners, managers or members, stockholders, other equityholders or
other direct or indirect affiliates (within the meaning of Rule 405 under the Securities Act) or to any investment fund or other entity
controlling, controlled by, managing or managed by or under common control with the undersigned or affiliates of the Lock-Up Party or
who shares a common investment advisor with the Lock-Up Party or to the estates of any of the foregoing; (b) transfers by bona fide gift
to a member of the Lock-Up Party’s immediate family or to a trust, the beneficiary of which is the Lock-Up Party or a member of
the Lock-Up Party’s immediate family for estate planning purposes; (c) by virtue of will, intestate succession or the laws of descent
and distributions upon death of the Lock-Up Party; (d) pursuant to a qualified domestic relations order, in each case where such transferee
agrees to be bound by the terms of this Agreement; (e) pursuant to a bona fide third-party tender offer, merger, consolidation, business
combination, stock purchase or other similar transaction or series of related transactions approved by the Board and made to all holders
of the Company’s capital stock that would result in a Change in Control; (f) establishment of a trading plan pursuant to Rule 10b-1
under the Exchange Act for the transfer of restricted securities; provided, that such plan does not provide for the transfer of Lock-Up
Shares during the Lock-Up Period; (g) in the case of an entity, Transfers by virtue of the laws of the state of the entity’s organization
and the entity’s organizational documents upon dissolution of the entity, (h) Transfers and transactions (including without limitation
any swap, hedge, derivative or other synthetic arrangement) relating to Common Stock or other securities convertible into or exercisable
or exchangeable for Common Stock acquired in open market or other transactions after the effective time of the Merger or that otherwise
do not involve or relate to Lock-Up Shares, and (i) transactions in the event of completion of a liquidation, merger, stock exchange
or other similar transaction which results in all of the Company’s securityholders having the right to exchange their shares of
Common Stock for cash, securities or other property.

 

Section
6.2. Void Transfers. If any Transfer of Lock-Up Shares prior to the end of the Lock-Up Period is made or attempted contrary to
the provisions of this Agreement, such purported Transfer shall be null and void ab initio, and the Company shall refuse to recognize
any such purported transferee of the Lock-Up Shares as one of its equityholders for any purpose. In order to enforce this Section
6.1, the Company may impose stop-transfer instructions with respect to the Lock-Up Shares until the end of the Lock-Up Period, except
in compliance with the foregoing restrictions.

 

    	21

    	 

    

 

Section
6.3. Legend.

 

(a)
During the Lock-Up Period, each certificate evidencing any Lock-Up Shares shall be stamped or otherwise imprinted with a legend in substantially
the following form, in addition to any other applicable legends:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN AN AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT, DATED AS OF OCTOBER 31, 2021, BY AND AMONG THE COMPANY (THE “ISSUER”), THE ISSUER’S STOCKHOLDERS
NAMED THEREIN AND CERTAIN OTHER PARTIES NAMED THEREIN. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUE TO THE
HOLDER HEREOF UPON WRITTEN REQUEST.”

 

(b)
Promptly upon the expiration of the Lock-Up Period, the Company will make best efforts to promptly remove such legend from the certificates
evidencing the Lock-Up Shares.

 

(c)
For the avoidance of doubt, each Lock-Up Party shall retain all of its rights as a stockholder of the Company during the Lock-Up Period
including the right to vote any Lock-Up Shares.

 

Section
6.4. Partial Release. In the event that the Company releases or waives, in full or in part, any Lock-Up Party (“Released
Lock-Up Party”) from the Lock-Up, then the same percentage of Lock-Up Shares held by the other Lock-Up Parties as the percentage
of Lock-Up Shares held by such Released Lock-Up Party to such other Lock-Up Party’s aggregate number of Lock-Up Shares that are
the subject of such waiver or release shall be automatically, immediately and fully released on the same terms from the Lock-Up. In the
event that, as a result of this Section 6.4, any Lock-Up Shares owned by Lock-Up Parties are to be released from the restrictions
imposed by Lock-Up, the Company shall notify the Lock-Up Parties in writing at least three (3) business days prior to the effective date
of such release or waiver, which notice shall state the percentage of Lock-Up Shares held by the Lock-Up Parties to be released and the
effective date of such release.

 

Section
6.5. Termination of Lock-Up. The Lock-Up Period shall terminate upon the earlier of (i) 180 days after the Closing Date, or (ii)
the closing of a merger, liquidation, stock exchange, reorganization or other similar transaction after the Closing Date that results
in all of the public stockholders of the Company having the right to exchange their shares of Common Stock for cash securities or other
property.

 

Section
6.6. Board Observer Rights. Until such time as BioDak, LLC and its Affiliates (together, the “BioDak Investors”)
Transfer (other than to any Permitted Transferee) a number of shares of Common Stock representing more than 75% of the aggregate outstanding
shares of Common Stock held by the BioDak Investors as of the Closing, the Company will permit an individual designated in writing by
the BioDak Investors from time to time (the “Observer”) to attend all meetings of the Board and of any committee thereof
as a non-voting observer, and will give such individual notice of such meetings at the same time and in the same manner as notice to
the directors. The Observer shall be entitled to concurrent receipt of any materials provided to the Board or any committee thereof,
provided, however, that the Observer shall agree to hold in confidence and trust all information so provided; provided further, however,
that the Company reserves the right to withhold any materials and to exclude such Observer from any meeting or portion thereof if access
to such materials or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel
or result in disclosure of trade secrets.

 

    	22

    	 

    

 

ARTICLE
7

MISCELLANEOUS

 

Section
7.1. Notices. All notices and other communications among the parties hereto shall be in writing and shall be deemed to have been
duly given (i) when delivered in person or by courier service providing evidence of delivery, (ii) when delivered after posting in the
United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx
or other nationally recognized overnight delivery service or (iv) when e-mailed during normal business hours (and otherwise as of the
immediately following business day), addressed as follows:

 

(a)
if to any Holder, at such Holder’s address, e-mail or facsimile number as set forth in the Company’s books and records; or

 

(b)
if to the Company, to:

 

SAB
Biotherapeutics, Inc.

2100
East 54th Street North

Sioux
Falls, SD 57104|

Attention:
Eddie Sullivan

Email:
Esullivan@sabbiotherapeutics.com

 

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

 

Dentons
US LLP

1221
Avenue of the Americas

New
York, NY 10020

Attention:
Ilan Katz and Brian Lee

Email:
ilan.katz@dentons.com and brian.lee@dentons.com

 

And

 

Stradling
Yocca Carlson & Rauth

800
Anacapa Street, Suite A

Santa
Barbara, CA 93101

Attention:
Ian Smith

Email:
Ismith@stradlinglaw.com

 

    	23

    	 

    

 

Section
7.2. Assignment; No Third Party Beneficiaries.

 

(a)
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part.

 

(b)
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees, subject to any lock-up or other agreement between
such Holder and/or their respective Permitted Transferees and the Company and any transferee thereafter.

 

(c)
This Agreement shall not confer any rights or benefits on any Persons that are not parties hereto, other than as expressly set forth
in this Agreement.

 

(d)
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the
Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 7.1 and
(ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment
made other than as provided in this Section 7.2 shall be null and void.

 

(e)
For the avoidance of doubt, the Sponsor shall be permitted to transfer its rights under this Agreement to the Sponsor Members in connection
with a distribution of any Registrable Securities held by the Sponsor to its members. Upon a transfer by the Sponsor to the Sponsor Members,
the rights that are personal to the Sponsor shall be exercisable by the Sponsor Members.

 

Section
7.3. Captions; Counterparts. The captions in this Agreement are for convenience only and shall not be considered a part of or
affect the construction or interpretation of any provision of this Agreement. 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.

 

Section
7.4. Construction. The words “include,” “includes,” and “including” will be deemed to be followed
by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender,
and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words
“this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of
similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto
intend that each representation, warranty and covenant contained herein will have independent significance. If any party hereto has breached
any representation, warranty or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party has not breached
will not detract from or mitigate the fact that such party is in breach of the first representation, warranty or covenant. All references
in this Agreement to numbers of shares, per share amounts and purchase prices shall be appropriately adjusted to reflect any stock split,
stock dividend, stock combination, recapitalization or the like occurring after the date hereof.

 

    	24

    	 

    

 

Section
7.5. Governing Law. This Agreement, and all claims or causes of action based upon, arising out of or related to this Agreement
or the transactions contemplated hereby shall be governed by, and construed in accordance with the laws of the State of Delaware, without
giving effect to principles or rules of conflict of laws to the extent such principles or rules would require or permit the application
of laws of another jurisdiction.

 

Section
7.6. Consent to Jurisdiction; Waiver of Jury Trial. Any claims or causes of action based upon, arising out of or related to this
Agreement or the transactions contemplated hereby shall be brought in the Court of Chancery of the State of Delaware or, if such court
declines to exercise jurisdiction, any federal or state court located in New York County, New York, and each of the parties hereto irrevocably
submits to the exclusive jurisdiction of each such court in any such claim or cause of action, waives any objection it may now or hereafter
have to personal jurisdiction, venue or to convenience of forum, agrees that all claims and causes of action shall be heard and determined
only in any such court, and agrees not to bring any claim or cause of action arising out of or relating to this Agreement or the transactions
contemplated hereby in any other court. Nothing contained in this Agreement shall be deemed to affect the right of any party hereto to
serve process in any manner permitted by law, or to commence legal proceedings or otherwise proceed against any other party hereto in
any other jurisdiction, in each case, to enforce judgments obtained in any claim or cause of action brought pursuant to this Section
7.6. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES, AND, THEREFORE, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION BASED UPON, ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section
7.7. Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest
of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this
Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however,
that notwithstanding the foregoing, any amendment hereto or waiver hereof shall also require the written consent of the Sponsor so long
as the Sponsor and its affiliates hold, in the aggregate, at least 2% of the outstanding shares of Common Stock of the Company; provided,
further, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in
its capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other Holders
(in such capacity) shall require the consent of the Holder so affected. Additionally, notwithstanding the foregoing, any amendment or
waiver of Section 6.6 shall also require the written consent of the BioDak Investors (or their Permitted Transferees) holding
a majority of the shares of Common Stock held by all BioDak Investors (or their Permitted Transferees) as a group. No course of dealing
between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising
any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single
or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any
other rights or remedies hereunder or thereunder by such party.

 

    	25

    	 

    

 

Section
7.8. Termination of the Existing Registration Rights Agreement. The parties to the Existing Registration Rights Agreement hereby
agree that, effective as of and contingent upon the Closing Date, the Existing Registration Rights Agreement shall be terminated automatically
without any further action of the parties thereto, and the registration rights granted under this Agreement shall supersede any registration,
qualification or similar rights of the Holders with respect to any of the shares or any securities of the Company granted under any other
agreement, and any of such preexisting registration, qualification or similar rights and such agreements shall be terminated and of no
further force and effect.

 

Section
7.9. Term. Following the Closing Date, this Agreement shall terminate upon the date as of which (a) all of the Registrable Securities
have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of
the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (b) the Holders of all
Registrable Securities are permitted to sell the Registrable Securities under Rule 144 promulgated by the Commission (or any similar
provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale. The provisions of Section
6.6 and ARTICLE 7 shall survive any termination.

 

Section
7.10. Additional Holders. Subject to the prior written consent of the Holders holding a majority of the Registrable Securities,
the Company may permit a Person to become a party to this Agreement by executing and delivering an additional counterpart signature page
to this Agreement, and thereafter such Person shall be deemed a “Holder” for all purposes hereunder.

 

Section
7.11. Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable
Securities held by such Holder in order for the Company to make determinations hereunder.

 

Section
7.12. Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for
the purpose of determining the availability of any rights under this Agreement and such Affiliates may apportion such rights as among
themselves in any manner they deem appropriate.

 

Section
7.13. Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto relating to the transactions
contemplated hereby and supersedes any other agreements, whether written or oral, that may have been made or entered into by or among
any of the parties hereto or any of their respective Affiliates relating to the transactions contemplated hereby. No representations,
warranties, covenants, understandings or agreements, oral or otherwise, relating to the transactions contemplated hereby exist between
the parties hereto except as expressly set forth or referenced in this Agreement.

 

(Signature
Page Follows)

 

    	26

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	BIG CYPRESS ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Samuel J. Reich
	 	Name:	Samuel
    J. Reich
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	BIG CYPRESS HOLDINGS LLC
	 	 	 
	 	By:	/s/
    Samuel J. Reich
	 	Name:	Samuel
    J. Reich
	 	Title:	Managing
    Member
	 	 	 
	 	LADENBURG THALMANN & CO. INC.
	 	 	 
	 	By:	/s/
    Steven Kaplan
	 	Name:	Steven
    Kaplan
	 	Title:	Head
    of Capital Markets
	 	 	 
	 	/s/ Steven Kaplan
	 	Steven Kaplan
	 	 	 
	 	/s/ Peter Blum
	 	Peter Blum
	 	 	 
	 	/s/ Jeff Caliva
	 	Jeff Caliva

 

    	27

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	CHARDAN
    CAPITAL MARKETS, LLC
	 	 	 
	 	By:	/s/
    Shai Gerson
	 	Name:	Shai
    Gerson
	 	Title:	Managing
    Partner

 

    	28Exhibit
10.6

 

FORM
OF 

 

INDEMNITY
AGREEMENT

 

THIS
INDEMNITY AGREEMENT (this “Agreement”) is made as of ___________, 2021, by and between Big Cypress Acquisition Corp., a Delaware
corporation (the “Company”), and (“Indemnitee”).

 

RECITALS

 

WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving
the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread
practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions
and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors,
officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming
litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
itself. The Amended and Restated Certificate of Incorporation (the “Charter”) and the Bylaws (the “Bylaws”)
of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification
pursuant to applicable provisions of the Delaware General Corporation Law (“DGCL”). The Charter, Bylaws and
the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts
may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification, hold harmless,
exoneration, advancement and reimbursement rights;

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of
such protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to
advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to
serve the Company free from undue concern that they will not be so protected against liabilities;

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Charter and Bylaws and any resolutions adopted pursuant thereto, and shall
not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS,
Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the
Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that Indemnitee be so indemnified; and

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement
dated as of January 11, 2021, the Company and Indemnitee do hereby covenant and agree as follows:

 

    	 

     

    

 

TERMS
AND CONDITIONS

 

1.
SERVICES TO THE COMPANY. Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or any other
capacity of the Company, as applicable, for so long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders
Indemnitee’s resignation or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force
and effect after Indemnitee has ceased to serve as a director, officer, advisor, key employee or in any other capacity of the Company,
as provided in Section 17. This Agreement, however, shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s
service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

 

2.
DEFINITIONS. As used in this Agreement:

 

(a)
References to “agent” shall mean any person who is or was a director, officer or employee of the Company or
a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such
capacity as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a
subsidiary of the Company.

 

(b)
The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set
forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

(c)
A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

(i)
Acquisition of Stock by Third Party. Other than an affiliate of Big Cypress Holdings LLC (the “Sponsor”),
any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen
percent (15%) or more of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the
election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results
solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors,
or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not constitute
a Change in Control under part (iii) of this definition;

 

(ii)
Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election
by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose election for nomination for election was previously so approved (collectively,
the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;

 

(iii)
Corporate Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were the
Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities of the Company
entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation, a corporation
which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through
one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership immediately prior to such Business
Combination, of the securities entitled to vote generally in the election of directors; (2) other than an affiliate of the Sponsor, no
Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or
more of the combined voting power of the then outstanding securities entitled to vote generally in the election of directors of the surviving
corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at least a majority of the Board
of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the execution of the
initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

    	 

     

    

 

(iv)
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or series
of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring
the Company’s current receivables or escrows due (or, if such stockholder approval is not required, the decision by the Board to
proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

(v)
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated under the
Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

(d)
“Corporate Status” describes the status of a person who is or was a director, officer, trustee, general partner,
manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person
is or was serving at the request of the Company.

 

(e)
“Delaware Court” shall mean the Court of Chancery of the State of Delaware.

 

(f)
“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding
(as defined below) in respect of which indemnification is sought by Indemnitee.

 

(g)
“Enterprise” shall mean the Company and any other corporation, constituent corporation (including any constituent
of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited
liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving
at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

 

(h)
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(i)
“Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever,
including, without limitation, all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs,
telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations
or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness
in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for time
spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also shall include Expenses
incurred in connection with any appeal resulting from any Proceeding (as defined below), including without limitation the principal,
premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. “Expenses,”
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(j)
References to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit
plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee,
agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

 

    	 

     

    

 

(k)
“Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in matters
of corporation law and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any
person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(l)
The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in
effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries (as defined
below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of any
corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership
of stock of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or
of a Subsidiary (as defined below) of the Company or of a corporation owned directly or indirectly by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the Company.

 

(m)
The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved as a party or otherwise
by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure to act) taken
by Indemnitee or of any action (or failure to act) on Indemnitee’s part while acting as a director or officer of the Company, or
by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner,
managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time
any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this
Agreement.

 

(n)
The term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company, partnership,
joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned,
directly or indirectly, by that Person.

 

3.
INDEMNITY IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless
and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party
to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company
to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee shall be
indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement
(including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments,
liabilities, fines, penalties and amounts paid in settlement) actually, and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he
or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had
no reasonable cause to believe that Indemnitee’s conduct was unlawful, provided, in no event shall Indemnitee be entitled to be
indemnified, held harmless or advanced any amounts hereunder in respect of any Expenses, judgments, liabilities, fines, penalties and
amounts paid in settlement (if any) that Indemnitee may incur by reason of his or her own actual fraud or intentional misconduct. Indemnitee
shall not be found to have committed actual fraud or intentional misconduct for any purpose of this Agreement unless or until a court
of competent jurisdiction shall have made a finding to that effect.

 

4.
INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company shall
indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee was, is, or is threatened
to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the right of the Company to
procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified,
held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall be
made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court
to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the Delaware Court shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is
fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

    	 

     

    

 

5.
INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement
except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or a participant
in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or
in part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against
all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue
or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by applicable
law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or
matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section and without limitation,
the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful
result as to such claim, issue or matter.

 

6.
INDEMNIFICATION FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section 27, to the
extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or deponent in any Proceeding to which Indemnitee
was or is not a party or threatened to be made a party, Indemnitee shall, to the fullest extent permitted by applicable law, be indemnified,
held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
therewith.

 

7.
ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any limitation in Sections 3, 4, or 5 and except
for Section 27, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee
if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company
to procure a judgment in its favor) against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including
all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities,
fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding. No
indemnification, hold harmless or exoneration rights shall be available under this Section 7 on account of Indemnitee’s conduct
which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its stockholders or is an act or omission not in good
faith or which involves intentional misconduct or a knowing violation of the law.

 

8.
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

 

(a)
To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for
in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments,
liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without
requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have
at any time against Indemnitee.

 

(b)
The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be
if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

    	 

     

    

 

(c)
The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought
by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9.
EXCLUSIONS. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any
indemnification, advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)
for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other
indemnity or advancement provision or otherwise;

 

(b)
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or common law;
or

 

(c)
except as otherwise provided in Sections 14(f)-(g) hereof, prior to a Change in Control, in connection with any Proceeding (or any part
of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against
the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of
any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration payment, in its
sole discretion, pursuant to the powers vested in the Company under applicable law. Indemnitee shall seek payments or advances from the
Company only to the extent that such payments or advances are unavailable from any insurance policy of the Company covering Indemnitee.

 

10.
ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

 

(a)
Notwithstanding any provision of this Agreement to the contrary, except for Section 27, and to the fullest extent not prohibited by applicable
law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee within
three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement or statements requesting
such advances from time to time, prior to the final disposition of any Proceeding. Advances shall, to the fullest extent permitted by
law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made without regard to Indemnitee’s
ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated
under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to
enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances
claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding
shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to
the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the Company
under the provisions of this Agreement, the Charter, the Bylaws, applicable law or otherwise. If it shall be determined by a final judgment
or other final adjudication that Indemnitee was not so entitled to indemnification, any advancement shall be returned to the Company
(without interest) by the Indemnitee. This Section 10(a) shall not apply to any claim made by Indemnitee for which an indemnification,
hold harmless or exoneration payment is excluded pursuant to Section 9 but shall apply to any Proceeding referenced in Section 9(b) prior
to a final determination that Indemnitee is liable therefor.

 

(b)
The Company will be entitled to participate in the Proceeding at its own expense.

 

(c)
The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, liability,
fine, penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

    	 

     

    

 

11.
PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)
Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification, hold
harmless or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall
not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

(b)
Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this
Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole
discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification
shall be determined according to Section 12(a) of this Agreement.

 

12.
PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

 

(a)
A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the
specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Board, (ii) by a committee of such directors designated by majority vote of such directors,
(iii) if there are no Disinterested Directors or if such directors so direct, by Independent Counsel in a written opinion to the Board,
a copy of which shall be delivered to Indemnitee, or (iv) by vote of the stockholders. The Company promptly will advise Indemnitee in
writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason
or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to
Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons
or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses incurred
by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify and to hold
Indemnitee harmless therefrom.

 

(b)
In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof,
the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee
(unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company advising
it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel is selected by the Board,
the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected and certifying
that the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this
Agreement. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection
shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided,
however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If
such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless
and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within
twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 11(b) hereof, no Independent
Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution
of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or
for the appointment as Independent Counsel of a person selected by the Delaware Court, and the person with respect to whom all objections
are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of
any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved
of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

    	 

     

    

 

(c)
The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

13.
PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)
In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11(b) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection
with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure of the Company
(including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement of any action
pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of
conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel) that Indemnitee
has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met
the applicable standard of conduct.

 

(b)
If the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled
to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have been made
and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission
of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable law; provided, however,
that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the person, persons
or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the
obtaining or evaluating of documentation and/or information relating thereto.

 

(c)
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea
of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect
the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(d)
For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors, manager, or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise,
its Board, any committee of the Board or any director, trustee, general partner, manager or managing member, or on information or records
given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or
managing member, by an independent certified public accountant or by an appraiser or other expert selected by the Enterprise, its Board,
any committee of the Board or any director, trustee, general partner, manager or managing member. The provisions of this Section 13(d)
shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have
met the applicable standard of conduct set forth in this Agreement.

 

(e)
The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

    	 

     

    

 

14.
REMEDIES OF INDEMNITEE.

 

(a)
In the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant to
Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a)
of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification
is not made pursuant to Section 5, 6, 7 or the last sentence of Section 12(a) of this Agreement within ten (10) days after receipt by
the Company of a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section 8 of this Agreement,
(vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days after a determination has
been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration
rights under this Agreement or otherwise is not made in accordance with this Agreement, Indemnitee shall be entitled to an adjudication
by the Delaware Court to such indemnification, hold harmless, exoneration, contribution or advancement rights. Alternatively, Indemnitee,
at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration
Rules and Mediation Procedures of the American Arbitration Association. Except as set forth herein, the provisions of Delaware law (without
regard to its conflict of laws rules) shall apply to any such arbitration. The Company shall not oppose Indemnitee’s right to seek
any such adjudication or award in arbitration.

 

(b)
In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled to
indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a
de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

(c)
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to be indemnified,
held harmless, and exonerated and to receive advancement of Expenses under this Agreement and the Company shall have the burden of proving
Indemnitee is not entitled to be indemnified, held harmless, and exonerated and to receive advancement of Expenses, as the case may be,
and the Company may not refer to or introduce into evidence any determination pursuant to Section 12(a) of this Agreement adverse to
Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14, Indemnitee shall
not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is made with respect to
Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

(d)
If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification, the
Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement
not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable
law.

 

(e)
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the
procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before
any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(f)
The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest
extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding or arbitration
brought by Indemnitee: (i) to enforce his or her rights under, or to recover damages for breach of, this Agreement or any other indemnification,
hold harmless, exoneration, advancement or contribution agreement or provision of the Charter, or the Bylaws now or hereafter in effect;
or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the
outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement,
contribution or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee
in good faith).

 

    	 

     

    

 

(g)
Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies, holds
harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing with
the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement of
any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

15.
SECURITY. Notwithstanding anything herein to the contrary, except for Section 27, to the extent requested by Indemnitee and approved
by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder
through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not
be revoked or released without the prior written consent of Indemnitee.

 

16.
NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)
The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any
time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or
otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced or completed) or
claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in Indemnitee’s Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision,
permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under
the Charter, the Bylaws or this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and
every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent
the concurrent assertion or employment of any other right or remedy.

 

(b)
The DGCL, the Charter and the Bylaws permit the Company to purchase and maintain insurance or furnish similar protection or make other
arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”)
on behalf of Indemnitee against any liability asserted against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity
as a director, officer, employee or agent of the Company, or arising out of Indemnitee’s status as such, whether or not the Company
would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement or under the DGCL, as it may
then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or
affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution
and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company
or the other party or parties thereto under any such Indemnification Arrangement.

 

(c)
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves
at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum
extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary, employee or
agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee
is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance in effect,
the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter use commercially reasonable efforts to cause such insurers to pay, on behalf of Indemnitee, all
amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

(d)
In the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to
secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.
No such payment by the Company shall be deemed to relieve any insurer of its obligations.

 

    	 

     

    

 

(e)
The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any
other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments
or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except for Section
27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration,
advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to the Company’s
satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform fully its obligations under
this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold harmless,
exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

 

17.
DURATION OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee
serves as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves
at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including
any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of Indemnitee’s
Corporate Status, whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which
indemnification or advancement can be provided under this Agreement.

 

18.
SEVERABILITY. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason
whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform
to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested thereby.

 

19.
ENFORCEMENT AND BINDING EFFECT.

 

(a)
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

(b)
Without limiting any of the rights of Indemnitee under the Charter or Bylaws as they may be amended from time to time, this Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

(c)
The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company),
shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer,
trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise at the Company’s request,
and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and
other legal representatives.

 

(d)
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place.

 

    	 

     

    

 

(e)
The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable
and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree
that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive relief
and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive
relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee
may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent permitted by law, be entitled
to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions,
without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of
a waiver, a bond or undertaking may be required of Indemnitee by a court of competent jurisdiction. The Company hereby waives any such
requirement of such a bond or undertaking to the fullest extent permitted by law.

 

20.
MODIFICATION AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing
by the Company and Indemnitee. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

21.
NOTICES. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed
to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have
been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the date on
which it is so mailed:

 

(a)
If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

(b)
If to the Company, to:

 

Big
Cypress Acquisition Corp.

300
W. 41st Street, Suite 202

Miami
Beach, FL 33140

Email:
sam@bigcypressaccorp.com

Attention:
Samuel Reich

 

With
a copy, which shall not constitute notice, to

 

Dentons
US LLP

1221
Avenue of the Americas

New
York, New York 10020

Attn:
Brian Lee, Esq.

Fax
No.: (212) 768-6800

 

or
to any other address as may have been furnished to Indemnitee in writing by the Company.

 

    	 

     

    

 

22.
APPLICABLE LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the parties shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with
respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, to the fullest extent permitted by law,
the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection
with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States of America
or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action
or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action
or proceeding in the Delaware Court; and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought
in the Delaware Court has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial. To
the fullest extent permitted by law, the parties hereby agree that the mailing of process and other papers in connection with any such
action or proceeding in the manner provided by Section 21 or in such other manner as may be permitted by law, shall be valid and sufficient
service thereof.

 

23.
IDENTICAL COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed
to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party
against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24.
MISCELLANEOUS. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings
of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction thereof.

 

25.
PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company
against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years
from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released
unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of
limitations is otherwise applicable to any such cause of action such shorter period shall govern.

 

26.
ADDITIONAL ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure
is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure
to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

27.
WAIVER OF CLAIMS TO TRUST ACCOUNT. Indemnitee hereby agrees that it does not have any right, title, interest or claim of any kind
(each, a “Claim”) in or to any monies in the trust account established in connection with the Company’s
initial public offering for the benefit of the Company and holders of shares issued in such offering, and hereby waives any Claim it
may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse against such
trust account for any reason whatsoever. Accordingly, Indemnitee acknowledges and agrees that any indemnification provided hereto will
only be able to be satisfied by the Company if (i) the Company has sufficient funds outside of the Trust Account to satisfy its obligations
hereunder or (ii) the Company consummates a Business Combination.

 

28.
MAINTENANCE OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire
period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable
insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to
ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such
policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer
under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide
the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

 

[Signature
Page Follows]

 

    	 

     

    

 

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

 

	 	BIG
    CYPRESS ACQUISITION CORP.
	 	 	                
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	By:

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