Document:

Proof - Test Table.htm

 

Exhibit
10.1

 

Amended and REstated
EMPLOYMENT AGREEMENT

 

This AMENDED AND RESTATED
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of June 9, 2021 and amends and restates the Employment
Agreement (the “Original Agreement”) entered into as of March 18, 2021 by and among Anna Malhari (the “Employee”),
Mack-Cali UK Ltd. (the “Company”), an indirect subsidiary of Mack-Cali Realty Corporation, a Maryland corporation,
with offices at Harborside 3, 210 Hudson Street, Suite 400, Jersey City, New Jersey 07311 (the “Parent”), and, with
respect to Section 14, Parent.

 

WHEREAS, the parties
desire to amend and restated the Original Agreement to reflect Employee’s promotion to Chief Operating Officer;

 

NOW THEREFORE, in consideration
of the premises and the mutual covenants and agreements set forth herein, the parties hereby amend and restate the Original Agreement
as follows:

 

1.            Employment.

 

The Company hereby agrees
to employ Employee, and Employee hereby agrees to accept such employment, upon the terms set forth in this Agreement.

 

2.            Term.

 

(a)          Employee’s
employment commenced on the date of Original Agreement (“Effective Date”) and shall continue through December 31,
2023 (the “Term”). On each December 31 during the Term, commencing with December 31, 2023, the Term will be automatically
extended for an additional one year, through the following December 31, unless either the Employee or the Company notifies the other
in writing, not fewer than ninety (90) days prior to such December 31, that it has elected not to extend the Term, in which event the
Term shall expire on such December 31.

 

(b)          Notwithstanding
anything contained herein to the contrary: (i) Employee’s employment with the Company may be terminated by the Company or Employee
at any time during the Term, subject to the terms and conditions of this Agreement; and (ii) nothing in this Agreement shall mandate
or prohibit a continuation of Employee’s employment following the expiration of the Term upon such terms and conditions as may
be mutually agreed.

 

3.            Duties
and Responsibilities.

 

(a)           At
the commencement of the Term, Employee served in the position of Senior Vice President and Chief Administrative Officer of Parent,
reporting directly to the Chief Executive Officer (“CEO”) of the Parent. Commencing on the date of this Agreement
(the “Promotion Date”) and continuing during the remainder of the Term, Employee shall serve in the position of
Executive Vice President and Chief Operating Officer of Parent, reporting directly to the CEO. Employee shall perform such duties,
functions and responsibilities for Parent and its Subsidiaries (together, the “Company Group”)
commensurate with the Employee’s position at the time and as reasonably and lawfully directed by the CEO.

 

     

     

    

 

(b)          Employee shall devote Employee’s full business time and attention and full diligence and vigor and good faith efforts to
the affairs of the Company and Employee shall not engage in any other business duties or pursuits or render any services of a professional
nature to any other entity or person, or serve on any board of directors, without the prior written consent of the CEO.

 

(c)           Employee’s
principal place of employment shall initially be the Company’s offices in London, United Kingdom. However, Employee may, at any
time during the Term, determine to relocate to Parent’s headquarters in Jersey City, New Jersey, United States (the “Headquarters”).
In addition, if, on or after January 1, 2022, the CEO reasonably concludes that it is in the best interests of the Company Group for
Employee to relocate her principal place of employment to Headquarters, then the CEO may require Employee to so relocate to Headquarters
(subject to an applicable U.S. work visa having been issued to Employee), and Employee will have eight (8) months within which to so
relocate; provided that, if Employee refuses or fails to relocate within such eight (8) month-period following such determination
and an applicable U.S. work visa has been issued, then Employee will be deemed to have resigned without Good Reason pursuant to Section
5(c) hereof; provided, further, that this sentence shall cease to apply upon consummation of a Change in Control (as defined
below). Employee shall cooperate with the Company to complete the U.S. work visa application process as quickly as reasonably practicable.

 

4.            Compensation
and Benefits.

 

(a)         
Base Salary. During the Term, the Company shall pay Employee an annual base salary (“Base Salary”), payable
in installments consistent with the Company’s normal payroll practices, subject to applicable withholding and other taxes. From
the Effective Date to the start of the month in which the Promotion Date occurs, the Base Salary shall be $275,000, and as of the start
of the month in which the Promotion Date occurs the Base Salary shall be increased to $300,000.

 

(b)          Annual
Bonus. In addition to the Base Salary, for each calendar year during the Term, Employee shall be entitled to receive annual cash
incentive compensation (an “Annual Bonus”) in an amount equal to: (i) fifty percent (50%) of her then current
Target Bonus (as defined below), if threshold performance is attained, (ii) one hundred percent (100%) of her then current Annual
Base Salary (the “Target Bonus”), if target performance is attained, or (iii) one hundred fifty percent (150%) of
her then current Target Bonus, based on the achievement of performance goals to be established by the Company in the same manner and
at the same time that performance goals are established for other senior officers of Parent and determined in the sole discretion of
the Company. For performance between threshold and maximum levels, the Annual Bonus will be determined on the basis of linear
interpolation. Employee’s annual bonus for 2021 will not be prorated and shall be based on the Base Salary as of the Promotion
Date. Payment of Annual Bonuses to Employee, if any, shall be made in the same manner and at the same time that other senior
officers of Parent receive their annual bonus awards, but in any event on or before March 15th following the end of the applicable
performance year, provided that Employee remains employed at the time the Annual Bonuses are paid to all other senior officers of
Parent.

 

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(c)         
LTI Awards. Each calendar year during the Term (including 2021), Employee shall be eligible for an annual long-term incentive
award (each, an “LTI Award”) under Parent’s then-current equity incentive plan, granted at the same time as LTI
Awards are granted to other senior executives of Parent (it currently being intended that such grants will be made in the first quarter
of each calendar year). For 2021, Employee’s LTI Award will have an annual aggregate grant date fair value of $300,000 (including
an additional $100,000 to be granted in connection with the Promotion Date) with vesting schedules and performance goals consistent with
those established for other senior executives of the Parent and subject to the terms and conditions of an applicable award agreement;
it being understood that Executive’s additional $100,000 LTI Award will be 50% time based and 50% performance based in a manner
consistent with the other EVPs of the Company.

 

(d)          Sign-On Bonus. Employee will receive a one-time cash sign-on bonus of $100,000 (the “Sign-On Bonus”),
payable within thirty (30) days subsequent to the Effective Date. In the event that the Company terminates Employee’s employment
for Cause (as defined below), or Employee resigns without Good Reason (as defined below), in each case prior to the first anniversary
of the Effective Date, Employee will be required to repay the Sign-On Bonus to the Company (in full within ninety days following termination).

 

(e)          Taxes and Withholding; Currency. Anything in this Agreement to the contrary notwithstanding, all payments required to be
made hereunder to Employee or her estate or beneficiaries shall be subject to the withholding of such amounts relating to taxes as the
Company Group may reasonably determine it should withhold pursuant to any applicable law or regulation, including any applicable UK income
tax and employee’s national insurance contributions. In lieu of withholding such amounts, in whole or in part, the Company Group
may, in its sole discretion, accept other provisions for payment of taxes and withholding as required by law, provided it is satisfied
that all requirements of law affecting its responsibilities to withhold have been satisfied. The Company Group will satisfy its obligations
to make employer national insurance contributions in the UK. All monetary amounts in this Agreement are denoted in United States dollars
($ or USD) but, unless and until the relocation to Headquarters contemplated by Section 3(c) has occurred, all cash amounts to be paid
to Employee through payroll shall be made in British pounds sterling (£ or GBP). Any payments to Employee hereunder made in GBP
shall be converted from USD to GBP based on the applicable spot rate used by the Company Group’s applicable payroll provider for
each such payment. The Company and Employee acknowledge that Employee’s tax profile is different from Company Group employees in
the United States. Accordingly, annual LTI awards will be in the form of restricted share units and performance share units unless otherwise
mutually agreed. It is understood that the Company Group is not providing tax equalization.

 

(f)          Additional Benefits. In addition to the compensation specified above and other benefits provided pursuant to this Section
4, Employee shall be entitled to the following benefits:

 

(i)            participation
in any health insurance, disability insurance, paid vacation, group life insurance or other welfare benefit program, or deferred
compensation, retirement or other benefit plans made generally available to executives of the Company or Parent (as applicable)
serving in the Employee’s home jurisdiction, subject to the general eligibility and participation provisions set forth in such
plans (and the Company shall use commercially reasonable efforts to establish a Company health insurance program for Employee and
her dependents in the Employee’s home jurisdiction, which also includes coverage in the United State, within thirty (30) days
following the Effective Date, with the cost of such health insurance to the Company not to exceed $25,000 per calendar year);

 

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(ii)            reimbursement for reasonable and documented business expenses upon the submission of proper substantiation by Employee, and subject
to Company guidelines, in the course of and pursuant to the business of the Company (which shall include applicable business class travel
and accommodations for required travel to the Parent Headquarters unless Employee relocates in accordance with Section 3(c));

 

(iii)           reasonable assistance with respect to Employee’s income tax returns in the United States and the United Kingdom in connection
with payments and benefits under this Agreement (such services being intended to ensure Employee maintains tax compliance in these jurisdictions
and to assist Employee with understanding her personal tax obligations and not extending to personal tax advisory or consulting services);
and

 

(iv)          reasonable relocation assistance consistent with customary practice in the event Employee relocates to Headquarters, but not to
exceed $50,000 in the aggregate.

 

5.            Termination of Employment.

 

(a)           Termination. Employee’s employment pursuant to this Agreement will terminate upon the earliest to occur of (i) Employee’s
death, (ii) a termination by the Company by reason of Employee’s Disability, (iii) termination by the Company with or without Cause,
or (iv)  termination by Employee with or without Good Reason. A non-extension of the Term in accordance with Section 2, (A) if initiated
by the Company, shall be considered a termination of Employee’s employment by the Company without Cause, and (B) if initiated by
Employee, shall be considered a resignation of Employee without Good Reason.,

 

(b)           Notice of Termination. Any termination of Employee’s employment by the Company (other than on account of death) or
any such termination by Employee shall be communicated by written Notice of Termination to the other party identifying the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis
for termination of Employee’s employment under the provision so indicated. In the event of the termination of Employee’s employment
on account of death, written Notice of Termination shall be deemed to have been provided on the date of death.

 

(c)          Definitions. For purposes of this Agreement, the following definitions shall apply:

 

(i)             “Cause” shall mean the commission by Employee of any of the following acts or omissions:

 

(1)         willful
and continued failure to use best efforts to substantially perform her duties to the Company Group (other than any such failure
resulting from Employee’s incapacity due to physical or mental illness) for a period of thirty (30) days after written demand
for substantial performance is delivered by the Company specifically identifying the manner in which the Company believes Employee
has not substantially performed her duties;

 

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(2)         material and continued failure to comply with Employee’s obligations under any written policy of the Company applicable to
senior Employees as approved by the Board from time to time for a period of thirty (30) days after written demand for substantial compliance
is delivered by the Company specifically identifying the manner in which the Company believes Employee has not substantially complied;

 

(3)        any act of fraud, embezzlement, misappropriation, or misuse for personal benefit of the assets or property of the Company Group;
or

 

(4)         a conviction of or plea of “guilty” or “no contest” to a felony under the laws of the United States or
any state thereof or an equivalent crime under the laws of any non-United States jurisdiction.

 

For purposes of this Section
5(c)(i), no act, or failure to act, on Employee’s part shall be considered “willful” unless done, or omitted to be done,
by her not in good faith and without reasonable belief that her action or omission was in furtherance of, or not opposed to, the interests
of the Company Group.

 

(ii)           
 “Change in Control” shall mean that any of the following events has occurred:

 

(1)        any “person” or “group” of persons (as such terms are used in Sections 13 and 14 of the Exchange Act) other
than any member of the Company Group, or any employee benefit plan sponsored by the Company Group, becomes the “beneficial owner”
(as such term is defined in Rule 13d-3 under the Exchange Act) of 30% or more of the shares of common stock of Parent issued and outstanding
immediately prior to such acquisition;

 

(2)        any shares of common stock of Parent are purchased pursuant to a tender or exchange offer, other than an offer by Parent, that
results in any “person” or “group” of persons (as such terms are used in Sections 13 and 14 of the Exchange Act)
becoming the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act) of 30% or more of the shares
of common stock of Parent issued and outstanding immediately prior to such tender or exchange offer;

 

(3)         individuals
who, on the date of this Agreement, constitute the Board (the “Incumbent Directors”) cease for any reason to
constitute at least a majority of the Board; provided that (x) any person becoming a member of the Board after the date of
this Agreement whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors
then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a
nominee for director, without minuted objection to such nomination) shall be an Incumbent Director and (y) no individual initially
elected or nominated as a member of the Board after the date of this Agreement as a result of an actual or threatened election
contest or other actual or threatened solicitation of proxies or consents by or on behalf of a person (as such term is used in
Sections 13 and 14 of the Exchange Act) other than the Board, including by reason of any agreement intended to avoid or settle any
such election contest or proxy contest, shall be deemed an Incumbent Director; or

 

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(4)         the dissolution or liquidation of Parent or the consummation of any merger or consolidation of Parent or any sale or other disposition
of all or substantially all of its assets, in each case, if the shareholders of Parent immediately prior to such transaction “beneficially
own” (as such term is defined in Rule 13d-3 under the Exchange Act), immediately after consummation of such transaction, equity
securities (other than options and other rights to acquire equity securities) representing less than 50% of the voting power of the surviving,
successor or acquiring entity (or the ultimate parent entity thereof).

 

(iii)           
“Change in Control Period” shall mean the period commencing on the earlier of (i) the date that a Change in
Control is consummated or (ii) three (3) months prior to the date that a Change in Control occurs (provided it is actually consummated),
and in either case ending on the first anniversary of the Change in Control.

 

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

 

(v)            “Disability” shall mean the inability of Employee, as a result of any medically determinable physical or mental
disease, injury, or congenital condition, to substantially perform her principal duties to the Company Group, with or without reasonable
accommodation, for a continuous period of one hundred and eighty (180) days, or periods aggregating two hundred and seventy (270) days
in any twelve (12) month period.

 

(vi)           “Good
Reason” shall mean, without the express written consent of Employee, the occurrence of any of the following circumstances during
the Term: 

 

(1)         the material diminishment of Employee’s authority, duties or responsibilities, including a change in reporting structure;

 

(2)         a material reduction in Employee’s Annual Base Salary;

 

(3)         a material change in the geographic location at which the Employee must perform the services under this Agreement, other than the
relocation contemplated by Section 3(c); or

 

(4)         the failure of the Company to obtain agreement from any successor to assume and agree to perform this Agreement.

 

Notwithstanding the foregoing,
Employee shall not be considered to have resigned for Good Reason unless Employee gives the Company written Notice of Termination in
accordance with Section 5(b), specifying in reasonable detail the circumstance constituting Good Reason, not more than thirty (30) days
after the occurrence of such circumstance, the Company fails to cure such circumstance within thirty (30) days after receipt of such
notice, and Employee resigns her employment within ten (10) days following the expiration of the cure period.

 

(vii)         
“Termination Date” shall mean the date on which Employee’s employment is terminated for any reason.

 

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6.           Severance Benefits.

 

(a)          Death or Disability. Upon a termination of Employee’s employment by reason of death or Disability, Employee (or the
representative of her estate) shall be entitled to receive the following payments and benefits, provided that the payments and benefits
described in Section 6(a)(vi) and (vii) shall be subject to her execution of a release as described in Section 7 and except as otherwise
provided in Sections 11(h) and 13(f):

 

(i)             all accrued but unpaid Base Salary through the Termination Date;

 

(ii)            any unpaid or unreimbursed expenses incurred in accordance with Company policy to the extent incurred during the Term;

 

(iii)          
any accrued but unpaid benefits provided under the Company’s employee benefit plans (not including any severance, separation
pay, or supplemental unemployment benefit plan), subject to and in accordance with the terms of those plans;

 

(iv)           any
earned but unpaid Annual Bonus in respect of any completed fiscal year that has ended on or prior to the Termination Date;

 

(v)            rights to indemnification and advancement by virtue of Employee’s position as an officer or director of the Company or its
subsidiaries and the benefits under any directors’ and officers’ liability insurance policy maintained by the Company, in
accordance with the terms thereof;

 

(vi)           an amount equal to Employee’s Target Bonus for the year in which the Termination Date occurs, multiplied by a fraction, the
numerator of which is the number of days in such year through and including the Termination Date, and the denominator of which is the
total number of days in such year, payable in a single lump sum as soon as practicable after the Termination Date; and

 

(vii)         
the treatment provided for in the respective terms of all then outstanding LTIP Awards and other equity-based compensation.

 

(b)          Termination Without Cause, or Resignation for Good Reason. In the event that during the Term (i) the Company terminates
Employee’s employment for any reason other than Cause or Disability, or (ii) Employee resigns for Good Reason, Employee shall be
entitled to receive the following payments and benefits, subject to her execution of a release as described in Section 7 and except as
otherwise provided in Sections 11(h) and 13(f):

 

(i)            all payments and benefits described in Section 6(a);

 

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(ii)          a
lump sum cash payment in an amount equal to one and one-half (1.5) times the sum of (A) Employee’s Annual Base Salary immediately
prior to the Termination Date, and (B) Employee’s Target Bonus for the year during which the Termination Date occurs, payable as
soon as practicable after the Termination Date; provided, however, that if such termination occurs during a Change in Control
Period, the lump sum cash payment shall be in an amount equal to two (2) times the sum of (A) Employee’s Annual Base Salary immediately
prior to the Termination Date, and (B) Employee’s Target Bonus for the year during which the Termination Date occurs; and

 

(iii)           
if Employee elects, on behalf of herself or her eligible dependents, to continue medical coverage under any applicable medical
plan of the Company Group, up to a maximum of eighteen (18) months of such coverage in Employee’s home jurisdiction at such after-tax
cost to Employee as would be paid by an active employee for comparable coverage (the “Medical Continuation”); provided,
however, that (A) such obligation may be satisfied in part pursuant to Section 4980B of the Code or any other applicable law in
Employee’s home jurisdiction as the Company Group determines appropriate, (B) if Employee’s continuation coverage is terminated
for any reason other than dictate of governing law prior to the end of such eighteen (18) month period, the Company’s obligations
under this Section 6(b)(iii) shall terminate, and (C) to the extent governing law would limit the Company Group’s ability to provide
Medical Continuation (including through the disqualification of the Company Group’s medical plans from appropriate tax treatment),
Parent and Employee will negotiate in good faith to provide Employee with the financial benefit of the limited Medical Continuation;

 

(iv)           With
respect to then-outstanding and unvested LTI Awards that vest soley based on the passage of time, a prorated portion of each such LTI
Award that is scheduled to vest on the next regularly scheduled vesting date shall vest, with such proration based on the quotient obtained
by dividing (x) the number of days elapsed between the previous vesting date (if none, the grantdate of the LTI Award) and the date of
Employee’s termination of employment by (y) the total number of days between the previous vesting date (if none, the grant date)
and such next regularly scheduled vesting date; and

 

(v)           With respect to then-outstanding and unvested LTI Awards the vest in part on the basis of the satisfaction of performance conditions,
(x) if the applicable performance period has not been completed on the date of such termination, then Employee shall be eligible to vest
at the conclusion of the applicable performance period in a prorated amount of each such LTI Award, based on the amount of time that Employee
remained employed hereunder during the applicable performance period and actual performance at the conclusion of the applicable performance
period, and (y) if the applicable performance has been completed on the date of such termination, then Employee shall immediately vest
as of the date of such termination in the amount of such LTI Award that was earned based on actual performance over the applicable performance
period (with any further time-based vesting requirements that would otherwise apply following the conclusion of such performance period
waived).

 

Notwithstanding anything
to the contrary in this Agreement, Employee acknowledges and agrees that the severance payments and benefits set forth in this
Section 6(b) are provided in lieu of, and not in addition to, any notice period required to be given prior to Employee’s
termination of employment under any applicable law. If any such notice period is required, Employee further acknowledges and agrees
that the severance payments in this Section 6(b) shall be reduced on a dollar-for-dollar basis by any salary payments paid by the
Company to Employee, the length of the Company’s subsidy for Medical Continuation in this Section 6(b) shall be reduced on a
day-for-day basis for the time elapsed, and any prorated vesting for which Employee is eligible pursuant to the terms of any
outstanding LTIP Awards and other equity-based compensation shall be reduced on a day-for-day basis for the time elapsed, in each
case during the pendency of such notice period.

 

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(c)            Termination
for Cause or Resignation by Employee without Good Reason. In the event the Company terminates Employee’s employment for Cause,
or Employee resigns without Good Reason prior to the expiration of the Term, Employee shall only be entitled to receive the payments
and benefits described in Section 6(a)(i)-(v).

 

7.             Release.

 

Notwithstanding anything to
the contrary above, all benefits and payments that may become payable pursuant to Section 6 other than those described in Section 6(a)(i)-(v)
are conditioned on Employee, or the representative of her estate, executing and not revoking a release agreement, in the form attached
hereto as Exhibit A (which shall additionally include, if requested by the Company, a customary United Kingdom release of claims in a
form acceptable to Parent (but with no additional post-termination obligations on Employee to those set out in this Agreement and Exhibit
A) and compliant with the provisions of section 203 of the Employment Rights Act in the United Kingdom (together, the “Release”))
and the period provided in such Release having expired without Employee exercising her right to revoke, not later than sixty (60) days
after the Termination Date, and if Employee fails to execute such Release, revokes the Release, or the revocation period has not yet expired
by the end of such sixty (60) day period, Employee shall have no right to any such payment or benefit.

 

8.             Adjustment
of Payments and Benefits.

 

(a)
          Notwithstanding any provision of this Agreement to the contrary, if any payment or benefit
to be paid or provided to Employee by the Company Group would be an “Excess Parachute Payment,” within the meaning of
Section 280G of the Code, or any successor provision thereto, but for the application of this sentence, then the payments and
benefits to be paid or provided in Section 6 shall be reduced to the minimum extent necessary so that no portion of any such payment
or benefit, as so reduced, constitutes an Excess Parachute Payment; provided, however, that the foregoing reduction
shall be made only if and to the extent that such reduction would result in an increase in the aggregate payments and benefits to be
provided, determined on an after-tax basis (taking into account the excise tax imposed pursuant to Section 4999 of the Code, or any
successor provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state, local or
non-U.S. taxes). In the event that any payment or benefit intended to be provided under Section 6 is required to be reduced pursuant
to this Section 8, the reduction shall occur in the following order: (i) by first reducing or eliminating the portion of the
payments which are not payable in cash and are not attributable to equity awards (other than that portion of the payments subject to
clause (iv) below), (ii) then by reducing or eliminating cash payments (other than that portion of the payments subject to clause
(iv) below), (iii) then by reducing or eliminating the portion of the payments which are not payable in cash and are attributable to
equity awards (other than that portion of the payments subject to clause (iv) below) and (iv) then by reducing or eliminating the
portion of the payments (whether payable in cash or not payable in cash) to which Treasury Regulation § 1.280G-1 Q/A 24(c) (or
successor thereto) applies, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in
time.

 

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(b)           The determination of whether any payment or benefit shall be reduced as provided in Section 8(a) and the amount of such reduction shall
be made at the Company Group’s expense by an accounting firm selected by the Company from among the four (4) largest accounting
firms in the United States (the “Accounting Firm”). The Accounting Firm shall provide its determination (the “Determination”),
together with supporting calculations and documentation, to the Company Group and Employee within forty-five (45) days after Employee’s
final day of employment, which Determination, absent manifest error, shall be binding, final and conclusive upon the Company Group and
Employee. If the Accounting Firm determines that the payments and benefits to be provided to Employee will not result in any Excess Parachute
Payments, it shall furnish Employee with an opinion to that effect. If the Accounting Firm determines that the payments and benefits to
be provided to Employee will result in Excess Parachute Payments, it shall furnish the Employee with an opinion that no Excess Parachute
Payments will be made after the reductions contemplated by this Section 8(b).

 

9.             Confidential
Information.

 

(a)            Employee
understands and acknowledges that during her employment with the Company Group, she will be exposed to Confidential Information (as defined
below), all of which is proprietary and which will rightfully belong to the Company Group. Employee shall hold in confidence for the benefit
of the Company Group such Confidential Information obtained by Employee during her employment with the Company Group and shall not, directly
or indirectly, at any time, either during or after her employment with the Company Group terminates, without the Company’s prior
written consent, use any of such Confidential Information or disclose any of such Confidential Information to any individual or entity
other than the Company Group or its employees, attorneys, accountants, financial advisors, consultants, or investment bankers except in
furtherance of the performance of her duties for the Company Group or as otherwise required by law, court order or an order of any governmental
authority. Employee such take all reasonable steps to safeguard such Confidential Information and to protect such Confidential Information
against disclosure, misuse, loss or theft.

 

(b)           The
term “Confidential Information” shall mean any information not generally known in the relevant trade or industry or otherwise
not generally available to the public, which was obtained from the Company Group or its predecessors or which was learned, discovered,
developed, conceived, originated or prepared during or as a result of the performance of any services by Employee on behalf of the Company
Group or its predecessors.

 

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(c)            Notwithstanding
any other provision of this Agreement, Employee understands that she may not be held criminally or civilly liable under any federal
or state trade secret law for the disclosure of a trade secret that is made (x) in confidence to a federal, state or local
government official, either directly or indirectly, or to an attorney if such disclosure is made solely for the purpose of reporting
or investigating a suspected violation of law or for pursuing an anti-retaliation lawsuit; or (y) in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal and Employee does not disclose the trade secret except
pursuant to a court order. In addition, nothing in this Agreement shall prohibit Employee from reporting possible violations of
federal law or regulation to or otherwise cooperating with or providing information requested by any governmental agency or entity,
including, but not limited to, the Department of Justice, the Securities and Exchange Commission, the US Congress, and any agency
Inspector General, or making other disclosures or receiving an award for information provided to any governmental agency or entity,
in each case that are protected under the whistleblower provisions of federal law or regulation. Employee does not need the prior
authorization of the Company to make any such reports or disclosures described in the preceding sentence and is not required to
notify the Company that Employee has made such reports or disclosures.

 

10.          Return
of Documents.

 

Except for such items which
are of a personal nature to Employee (e.g., daily business planner), all writings, records, and other documents and things containing
any Confidential Information shall be the exclusive property of the Company Group, shall not be copied, summarized, extracted from, or
removed from the premises of the Company Group, physically or electronically, except in pursuit of the business of the Company Group,
and shall be delivered to the Company, without retaining any copies, upon the termination of Employee’s employment or at any time
as requested by the Company.

 

11.          Non-Compete;
Non-Solicitation; Non-Disparagement.

 

(a)           During the Term, and for a one (1) year period thereafter, regardless of the reason for termination, Employee shall not, directly
or indirectly, anywhere in the United States, engage in, or own, invest in, manage or control any venture or enterprise primarily engaged
in any office-service, flex, or office property development or acquisition activities that are competitive with the activities of the
Company Group. Nothing herein shall prohibit Employee from being a passive owner of not more than five percent (5%) of the outstanding
stock of any class of securities of a company or other entity engaged in such business which is publicly traded, so long as she has no
active participation in the business of such company or other entity.

 

(b)           If, at the time of enforcement of this Section 11, a court shall hold that the duration, scope, area or other restrictions stated
herein are unreasonable, the parties agree that reasonable maximum duration, scope, area or other restrictions may be substituted by such
court for the stated duration, scope, area or other restrictions and upon substitution by such court, this Agreement shall be automatically
modified without further action by the parties hereto.

 

(c)            Employee
agrees that during the Term, and for a one (1) year period thereafter, regardless of the reason for termination, Employee will not,
without written consent of the Company Group, directly or indirectly, including causing, encouraging, directing or soliciting any
other person to, contact, approach or solicit (other than, so long as Employee continues to be employed by the Company Group and
makes such contact, approach or solicitation made on behalf of the Company Group) for the purpose of offering employment to or
hiring (whether as an employee, consultant, agent, independent contractor or otherwise) or actually hire any person who is or has
been employed or retained in the operation of the Company Group’s business during the period commencing three (3) months prior
to the date of such hiring or offering of employment, or induce, interfere with or solicit, or attempt to induce, interfere with or
solicit, any person that is a current or former customer, supplier or other business relation of the Company Group to terminate its
relationship or otherwise cease doing business in whole or in part or reduce the amount of business with the Company Group.

 

    11

     

    

 

(d)            Employee
agrees not to disparage the Company Group or its past and present investors, officers, directors or employees.

 

(e)            Employee acknowledges and agrees that (i) Employee’s obligation to comply with the restrictions in this Section 11 shall
be independent of any obligation owed to Employee by the Company Group (whether under this Agreement or otherwise), and specifically shall
not be dependent upon whether Employee is entitled to any form of severance pay or benefits pursuant to this Agreement or otherwise, (ii)
no claim against the Company Group by Employee (whether under this Agreement or otherwise) shall constitute a defense to the enforcement
by the Company Group of the restrictions in this Section 11, (iii) the time limitations and the geographic scope on the restrictions in
this Section 11 are reasonable, (iv) the restrictions imposed under this Section 11 are reasonably necessary for the protection of the
Company Group and its goodwill, Confidential Information, and other legitimate business interests and do not impose a greater restraint
than necessary to provide such protection, (v) that through this Agreement, Employee shall receive adequate consideration for any loss
of opportunity associated with the restrictions of this Section 11, and (vi) that the provisions of this Section 11 and its subparts provide
a reasonable way of protecting the Company Group’s business value.

 

(f)            In
the event that Employee breaches any covenant, obligation or duty in this Section 11, any such duty, obligation, or covenant to which
the parties agreed by this Section 11 shall automatically toll from the date of the first breach, and all subsequent breaches, until
the resolution of the breach through private settlement, judicial or other action, including all appeals. The duration and length of
Employee’s duties and obligations as agreed by this Section 11 shall continue upon the effective date of any such settlement, or
judicial or other resolution.

 

(g)            Upon
any material breach by Employee of any of the provisions of Section 9, 10 or 11, Employee shall immediately, permanently and
irrevocably forfeit without payment of consideration of any kind any and all rights to any of the benefits and payments otherwise
payable to Employee pursuant to this Agreement (other than those set forth in Section 6(a)(i)-(v)). In addition, in view of the
nature of the rights in goodwill, employee relations, trade secrets, and business reputation and prospects of the Company Group to
be protected under Sections 9, 10 and 11, Employee understands and agrees that the Company Group could not be reasonably or
adequately compensated in damages in an action at law for Employee’s breach of Employee’s obligations (whether
individually or together) under Sections 9, 10 or 12. Accordingly, Employee specifically agrees that the Company Group shall be
entitled to temporary and permanent injunctive relief, specific performance, and other equitable relief to enforce the provisions of
Sections 8, 10 and 11, and that such relief may be granted without the necessity of proving actual damages, and without bond.
EMPLOYEE ACKNOWLEDGES AND AGREES THAT THE PROVISIONS IN SECTIONS 9, 10 AND 11 ARE ESSENTIAL AND MATERIAL TO THIS AGREEMENT, AND THAT
UPON BREACH OF SECTION 9, 10 OR 11 BY EMPLOYEE, THE COMPANY GROUP IS ENTITLED TO WITHHOLD PROVIDING PAYMENTS OR CONSIDERATION, TO
EQUITABLE RELIEF TO PREVENT CONTINUED BREACH, TO RECOVER DAMAGES AND TO SEEK ANY OTHER REMEDIES AVAILABLE TO THE COMPANY GROUP. This
provision with respect to injunctive relief shall not, however, diminish the right of the Company Group to claim and recover damages
or other remedies in addition to equitable relief.

 

    12

     

    

 

12.           Company
Successors.

 

This Agreement may not be
assigned by the Company except to a successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of
the Company’s business and/or assets, and the Company shall require any such successor to assume expressly and agree to perform
under this Agreement, in the same manner and to the same extent as the Company would be required to perform it in the absence of a succession.
As used in this Agreement, “Company” shall mean the Company as defined herein and any successor to its business and/or assets
as aforesaid which assumes and agrees to perform this Agreement by operation of law, contract or otherwise.

 

13.           Miscellaneous Provisions.

 

(a)            Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have
been duly given when personally delivered, on the first business day after being sent by reputable overnight courier, or on the third
business day after being mailed by registered or certified mail, return receipt requested and postage prepaid, and addressed to Employee
at the address shown on the Company’s personnel records, or to the Company at the address set forth below, or such other address
as a party shall give notice of by notice given in the same manner:

 

Mack-Cali Realty Corporation

Harborside 3

210 Hudson Street, Suite 400

Jersey City, New Jersey 07311

Attn: Gary T. Wagner, General Counsel

 

(b)           Entire
Agreement. This Agreement contains all the legally binding understandings and agreements between Employee and the Company pertaining
to the subject matter of this Agreement and supersedes all such agreements, whether oral or in writing, previously entered into between
the parties, including, without limitation, the Original Agreement and any offer letter or term sheet related to the Original Agreement
or this Agreement; provided, that the terms and provisions of Exhibit B attached hereto shall apply as though fully stated herein
unless and until Employee relocates to Headquarters pursuant to Section 3(c).

 

(c)            Severability.
The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of
any other provision hereof, which shall remain in full force and effect.

 

(d)            Interpretation.
When a reference is made in this Agreement to sections, subsections or clauses, such references shall be to a section, subsection or
clause of this Agreement, unless otherwise indicated. The words “herein” and “hereof” mean, except where a
specific section, subsection or clause reference is expressly indicated, the entire Agreement rather than any specific section,
subsection or clause. The words “include”, “includes” and “including” when used in this
Agreement shall be deemed to in each case to be followed by the words “without limitation”. The headings of the sections
or subsections of this Agreement are inserted for convenience only and shall not be deemed to constitute a term of the Agreement and
shall not affect the construction or interpretation of this Agreement.

 

    13

     

    

 

(e)            Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which
when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

 

(f)             Section
409A of the Code. To the extent applicable, it is intended that payments and benefits provided for hereunder be exempt from or comply
with Section 409A of the Code and the guidance promulgated thereunder (collectively, “Section 409A”). This Agreement
shall be administered in a manner consistent with this intent and if Employee or the Company believes, at any time, that any of such
payment or benefit is not exempt or does not so comply, Employee or the Company shall promptly advise the other party and will negotiate
reasonably and in good faith to amend the terms of such arrangement such that it is exempt or complies (with the most limited possible
economic effect on Employee and on the Company) or to minimize any additional tax, interest and/or penalties that may apply under Section
409A if exemption or compliance is not practicable. In furtherance of the foregoing, the following provisions shall apply notwithstanding
anything to the contrary in this Agreement:

 

(i)             To
the extent applicable, each and every payment to be made pursuant to this Agreement shall be treated as a separate payment and not as
one of a series of payments treated as a single payment for purposes of Treasury Regulation §1.409A-2(b)(2)(iii).

 

(ii)            If Employee becomes entitled to receive any payment that constitutes deferred compensation subject to Section 409A upon a termination
of employment, and such termination of employment does not constitute a “separation from service” as defined in Section 409A,
payment of such amount shall be deferred, without interest, and paid on the earlier of the date Employee incurs a separation from service,
as so defined (subject to subsection (f)(iii)) below, or the date of Employee’s death.

 

(iii)           If
Employee is a “specified employee”, as defined in Section 409A on the date she incurs a separation from service, any amount
that becomes payable by reason of such separation from service that constitutes deferred compensation subject to Section 409A, including
any amount deferred pursuant to subsection (f)(ii) above, shall be deferred, without interest, and paid on the earlier of the first business
day of the seventh month following the month that includes Employee’s separation from service, or the date of Employee’s
death.

 

(iv)           If the sixty (60) day period described in Section 7 ends in the calendar year following the year that includes the Termination
Date, no amount that is subject to Section 409A, the payment of which is dependent upon the execution of the Release, shall be paid until
the first business day of the calendar year following the year that includes the Termination Date, regardless of when the Release is signed.

 

    14

     

    

 

 

(v)              
 Any reimbursement of any expense payable to Employee that constitutes taxable income shall be paid not later than the last day
of the year following the year in which the expense is incurred, and all reimbursements and in-kind benefits shall be paid in accordance
with Treasury Regulation §1.409A-3(i)(1)(iv).

 

(vi)            
The Company shall not be obligated to guarantee any particular tax result for Employee with respect to any payment or benefit provided
to Employee hereunder, and Employee shall be responsible for any taxes, additional taxes or penalties imposed on Employee in connection
with any such payment or benefit with respect to Section 409A or any other obligation to pay taxes.

 

(g)                Indemnification.
In the event Employee is made party or threatened to be made a party to any action, suit or proceeding, whether civil, criminal, administrative
or investigative (a “Proceeding”), by reason of Employee’s employment with or serving as an officer or director
of Parent, whether or not the basis of such Proceeding is alleged action in an official capacity, Parent shall indemnify, hold harmless
and defend Employee to the fullest extent authorized by Maryland law, as the same exists and may hereafter be amended, against any and
all claims, demands, suits, judgments, assessments and settlements including all expenses incurred or suffered by Employee in connection
with a Proceeding (including, without limitation, all reasonable legal fees incurred) and such indemnification shall continue as to Employee
even after Employee is no longer employed by the Company Group and shall inure to the benefit of her heirs, executors, and administrators.
The indemnification provisions of this Section 13(g) shall not supersede or reduce any indemnification provided to Employee under any
separate agreement, or the by-laws of Parent since it is intended that this Agreement shall expand and extend Employee’s rights
to receive indemnity.

 

(h)                Modification
or Waiver. No amendment, modification, waiver, termination or cancellation of this Agreement shall be binding or effective for any
purpose unless it is made in a writing signed by the party against whom enforcement of such amendment, modification, waiver, termination
or cancellation is sought. No course of dealing between or among the parties to this Agreement shall be deemed to affect or to modify,
amend or discharge any provision or term of this Agreement. No delay on the part of the Company or Employee in the exercise of any of
its respective rights or remedies shall operate as a waiver and no single or partial exercise by the Company or Employee of any such
right or remedy shall preclude other or further exercise thereof. A waiver of right or remedy on any one occasion shall not be construed
as a bar to or waiver of any such right or remedy on any other occasion.

 

(i)                
Survival. The respective rights and obligations of the parties hereunder shall survive Employee’s termination of employment
and termination of this Agreement to the extent necessary for the intended preservation of such rights and obligations.

 

(j)                
Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of New Jersey,
without regard to its principles of conflicts of laws. The parties agree that any dispute regarding the terms of this Agreement and/or
Employee’s employment shall be resolved in the state or federal courts located in New Jersey.

 

    15

     

    

 

14.               Parent
Guarantee.

 

     Parent hereby irrevocably
and unconditionally guarantees all liabilities and debts of the Company pursuant to this Agreement. Parent shall pay to Employee from
time to time on demand a sum of money which the Company is at any time liable to pay to Employee under or pursuant to this Agreement and
which has not been paid at the time the demand is made. To the extent Parent satisfies any obligation of the Company pursuant to this
Agreement, Parent shall assume, for its own benefit, Employee’s right to enforce such obligation against the Company.

 

    16

     

    

 

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

 

	MACK-CALI REALTY CORPORATION	 	EMPLOYEE
	 	 	 
	By:	/s/ Gary T. Wagner	 	/s/ Anna Malhari
	 	Name: Gary T. Wagner	 	Anna Malhari
	 	Title: General Counsel and Secretary	 	 

 

    17

     

    

 

Exhibit A

 

RELEASE

 

Reference is made to that certain
Employment Agreement, dated as of March 2, 2021 (the “Agreement”), by and among Anna Malhari (“Employee”),
Mack-Cali UK Ltd. (the “Company”), and Mack-Cali Realty Corporation, a Maryland corporation (the “Parent”).
Capitalized terms used in this Release and not defined herein shall have the meanings assigned to them in the Agreement.

 

In further consideration of
the covenants undertaken pursuant to the Agreement, including, without limitation, the payments and benefits described therein, Employee
hereby waives, releases and forever discharges the Company and any of its predecessors, parents, subsidiaries, affiliates and related
companies, and all of their respective past and present parents, subsidiaries and affiliates, and all of their respective past and present
employees, directors, officers, members, attorneys, representatives, insurers, agents, shareholders, successors and assigns (individually
and collectively, the “Company Releasees”), from and with respect to any and all legally waivable claims, grievances,
injuries, controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money,
attorneys’ fees, costs, damages, or any right to any monetary recovery or any other personal relief, whether known or unknown, in
law or in equity, by contract, tort or pursuant to federal, state or local statute, regulation, ordinance or common law, which Employee
now has, ever had, or may hereafter have, based upon or arising from any fact or set of facts, whether known or unknown to Employee, from
the beginning of time until the Termination Date. Without limiting the generality of the foregoing, this waiver, release and discharge
includes any claim or right asserted or which could have been asserted by Employee against the Company and/or any of the Company Releasees
based upon or arising under any federal, state or local tort, fair employment practices, equal opportunity, or wage and hour laws, including,
but not limited to, the common law of the State of New York and the State of New Jersey, Title VII of the Civil Rights Act of 1964, the
New York State Human Rights Law, the New York City Human Rights Law, the Americans with Disabilities Act, the Age Discrimination in Employment
Act, 42 U.S.C. Section 1981, the Equal Pay Act of 1963, the Fair Labor Standards Act of 1938, the New York Labor Law, the New Jersey Law
Against Discrimination, the New Jersey Wage and Hour Law, the New Jersey Family Leave Act, the New Jersey Conscientious Employee Protection
Act, and the Employee Retirement Income Security Act of 1974, including all amendments thereto.1

 

Notwithstanding the
generality of the foregoing, nothing herein constitutes a release or waiver by Employee of: (i) any claim or right that may first
arise after the Termination Date; (ii) any right to payments or benefits pursuant to Section 6 of the Agreement that will be due to
Employee upon the due execution and delivery, and nonerevocation, of this Release in accordance with Section 7 of the Agreement;
(iii) any claim or right to indemnification, advancement, defense or reimbursement that Employee may have pursuant to any applicable
indemnification agreements, any applicable D&O policies or any similar insurance policies, Parent’s bylaws, as amended, or
under applicable law; or (iv) any claim Employee may have as a stockholder of Parent.

 

 

 

1 If requested by Parent, to additionally
include a customary United Kingdom release of claims in a form acceptable to Parent and compliant with the provisions of section 203
of the Employment Rights Act in the United Kingdom.

 

    18

     

    

 

Employee acknowledges that she
has a right by written notice to the Company in accordance with the notice provisions set forth in Section 13(a) of the Agreement to revoke
this Release within seven (7) days after delivery thereof, which revocation shall result in the consequences set forth in the Agreement,
including, without limitation, Section 7 thereof.

 

Dated: ___________

 

	 	 
	 	Anna Malhari

 

    19

     

    

 

Exhibit B

 

UK EMPLOYMENT TERMS

 

Notwithstanding anything to the contrary in this
Agreement, the following provisions shall apply:

 

(a)              
No previous employment with the Company or any other employer forms part of Employee’s continuous employment with the Company.

(b)              
There are no collective agreements applicable to this Agreement.

 

(c)              
The Employee shall work such hours as are necessary for the proper performance of her duties, having regard to the seniority of
her position and the fact that the Company’s Headquarters are in the State of New Jersey in the United States of America. Employee
agrees that the nature of her position is such that her working time cannot be measured and, accordingly, that her employment falls within
the scope of Regulation 20 of the Working Time Regulations 1998.

 

(d)              
In addition to public holidays for England and Wales, Employee is entitled to 20 working days’ paid vacation in each vacation
year (which runs from January to December) to be taken at such time or times as may be agreed in advance by the Company or Parent. Employee
may not, except with prior permission from the Company or Parent, carry forward any accrued but unused part of her paid vacation entitlement
to a subsequent holiday year. In the first and final vacation years of Employee’s employment, her entitlement to paid vacation shall
be calculated on a pro rata basis rounded up to the nearest half day. Employee will be entitled on termination to pay in lieu of any vacation
entitlement accrued but untaken during that vacation year. If Employee has taken paid vacation in excess of her accrued entitlement, the
Company will be entitled to deduct from any sum payable by the Company to Employee a sum representing such excess taken.

 

(e)              
The Company shall comply with applicable employer pension duties, and shall deduct any employee contributions from Employee’s
Annual Base Salary, in accordance with the Pensions Act 2008.

 

(f)               
Employee authorizes the Company to deduct from the Annual Base Salary, or from any sums due to Employee from the Company, any sums
which Employee may owe to the Company or the group including without limitation any overpayment of salary or expenses, any debt or loans
or any other sum or sums which may be required to be authorized under Section 13 of the Employment Rights Act 1996.

 

(g)              
Employee and the Company shall comply with any applicable minimum notice of termination requirements under any applicable law of
England and Wales. Employee acknowledges and agrees that Employee’s severance payments and benefits are subject to adjustment as
a result of any notice periods required prior to termination in accordance with the last sentence of Section 6(b) of this Agreement.

 

    20Exhibit 4.4

 

WARRANT AGREEMENT

 

This WARRANT AGREEMENT
(this “Agreement”) is made as of [●], 2021 between TechStackery, Inc., a Delaware corporation, with offices
at 501 Brickell Key Drive, Suite 300, Miami, FL 33131 (“Company”), and Continental Stock Transfer & Trust Company,
a New York limited purpose trust company, with offices at 1 State Street, New York, New York 10004, as warrant agent (“Warrant
Agent”). |

 

WHEREAS, the Company
is engaged in a public offering (“Public Offering”) of up to 28,750,000 units (including 3,750,000 units which may
be issued pursuant to an overallotment option granted to the underwriters of the Public Offering), each unit (the “Units”)
comprised of one share of common stock of the Company, par value $0.0001 (“Common Stock”), and one-half of one warrant,
where each whole warrant entitles the holder to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment
as described herein, and, in connection therewith, will issue and deliver up to 14,375,000 warrants (the “Public Warrants”)
to the public investors in connection with the Public Offering; and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, No. 333-
255595  (“Registration Statement”) and prospectus (“Prospectus”), for the registration, under
the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants; and

 

WHEREAS, the Company
has received a binding commitment from the Company’s sponsor, ShiftPixy Investments, Inc. (the “Sponsor”), to
purchase, simultaneously with the closing of the Public Offering, up to an aggregate of 4,654,000 warrants (the “Private Warrants”),
each exercisable to purchase one share of Common Stock at a price of $11.50 per whole share, bearing the legend set forth in Exhibit B
hereto; and

 

WHEREAS, the Company
may issue up to an additional 1,500,000 warrants (each such warrant, a “Working Capital Warrant”) at a price of $1.00
per Working Capital Warrant, in satisfaction of certain working capital loans made by the Company’s officers, directors, initial
stockholders and their affiliates; and

 

WHEREAS, following consummation
of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants” and together with the Public
Warrants, Private Warrants, and Working Capital Warrants, the “Warrants”) in connection with, or following the consummation
by the Company of, a Business Combination (defined below); and

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption, and exercise of the Warrants; and

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective
rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement.

  

NOW, THEREFORE, in consideration
of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of Warrant Agent.
The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such
appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

    	 	1	 

     

    

 

2. Warrants.

 

2.1. Form of
Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions
of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board of Directors or
Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s
seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in
which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased
to be such at the date of issuance.

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented
by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case as determined by the
Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect
as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

 

2.3. Effect of
Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant
Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”) as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant
certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 52nd day following the date
of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in
New York City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business
Day following such date, or earlier with the consent of A.G.P./Alliance Global Partners (the “Representative”), but
in no event will the Representative allow separate trading of the securities comprising the Units until (i) the Company has filed
a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of the Public Offering including the proceeds received by the Company from the exercise of the underwriters’ over-allotment option
in the Public Offering, if the over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the Company
has issued a press release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment
Date”).

 

2.6. Private
Warrant and Working Capital Warrant Attributes. The Private Warrants and Working Capital Warrants will be identical to the Public
Warrants.

  

2.7.  Post IPO
Warrants. The Post IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants except
as may be agreed upon by the Company.

 

    	 	2	 

     

    

 

3. Terms and Exercise of Warrants

 

3.1. Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle the registered
holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of
Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price per share at
which the shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the
Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days;
provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered holders
of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing on the later of (a) 30 days after the consummation by the
Company of a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination
with one or more businesses or entities (“Business Combination”) (as described more fully in the Registration Statement)
or (b) 12 months from the date of the closing of the Public Offering, and terminating at 5:00 p.m., New York City time on the earlier
to occur of (i) the date that is five (5) years after the date on which the Company consummates a Business Combination, (ii) at 5:00
p.m., New York City time on the Redemption Date as provided in Section 6.2 of this Agreement and (iii) the liquidation
of the Trust Account (defined below) (“Expiration Date”). The period of time from the date the Warrants will first
become exercisable until the expiration of the Warrants shall hereafter be referred to as the “Exercise Period.” Except with
respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), as applicable, each outstanding Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this
Agreement shall cease at the close of business on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided, however, that the Company will provide at least twenty (20) days’ prior
written notice of any such extension to registered holders and, provided further that any such extension shall be applied consistently
to all of the Warrants.

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the
registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by
paying in full the Warrant Price for each share of Common Stock as to which the Warrant is exercised and any and all applicable taxes
due in connection with the exercise of the Warrant, as follows:

 

(a) in lawful
money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer;

 

(b) in the
event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force all holders of
Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common
Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants,
multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market
Value. Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported closing
price of the shares of Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the
notice of redemption is sent to holders of the Warrants pursuant to Section 6 hereof; or

   

(c) in the
event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days after the
closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient obtained
by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between
the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however, that
no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise price. Solely for purposes
of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price of the shares of Common
Stock for the ten (10) trading days ending on the trading day prior to the date of exercise.

 

    	 	3	 

     

    

 

3.3.2. Issuance
of shares of Common Stock. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the
Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry
position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed
by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for
the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company
be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to
issue shares of Common Stock upon exercise of a Warrant unless the shares of Common Stock issuable upon such Warrant exercise has been
registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants.
In the event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant
shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying
such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise or issuance
would be unlawful.

 

3.3.3. Valid
Issuance. All the shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and nonassessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock is issued shall for all purposes
be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing such
Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that,
if the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant Agent
are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date
on which the share transfer books or book entry system are open.

  

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not cause the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the
foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include
the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is
being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion
of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any
convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation
contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For
purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding
shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report
on Form 10-Q, current report on Form 8-K or other public filing with the SEC as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or the Warrant Agent setting forth the number of shares
of Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within
two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity
securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock
was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective
until the sixty-first (61st) day after such notice is delivered to the Company.

 

    	 	4	 

     

    

 

4. Adjustments.

 

4.1. Stock Dividends;
Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of
Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common Stock, or other
similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common Stock issuable
on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock.

 

4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each
Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

  

4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s capital stock
into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective
immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by
the Company’s Board of Directors, in good faith) of any securities or other assets paid in respect of such Extraordinary Dividend
divided by all outstanding shares of the Company at such time (whether or not any stockholders waived their right to receive such dividend);
provided, however, that none of the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any adjustment
described in subsection 4.1 above, (b) any cash dividends or cash distributions which, when combined on a per share basis with all
other cash dividends and cash distributions paid on the shares of Common Stock during the 365-day period ending on the date
of declaration of such dividend or distribution does not exceed $0.50 per share (taking into account all of the outstanding shares of
the Company at such time (whether or not any stockholders waived their right to receive such dividend) and as adjusted to appropriately
reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that
resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) but only
with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50, (c) any payment to satisfy
the conversion rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination or certain
amendments to the Company’s Amended and Restated Certificate of Incorporation (as described in the Registration Statement) or (d) any
payment in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate a Business
Combination. Solely for purposes of illustration, if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash
dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the shares of Common Stock during
the 365-day period ending on the date of declaration of such $0.35 dividend, then the Warrant Price will be decreased, effectively
immediately after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate
amount of all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and
$0.50 (the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period
prior to such $0.35 dividend)). Furthermore, solely for the purposes of illustration, if following the closing of the Company’s
initial Business Combination, there were 100,000,000 shares outstanding and the Company paid a $1.00 dividend to 17,500,000 of such shares
(with the remaining 82,500,000 shares waiving their right to receive such dividend), then no adjustment to the Warrant Price would occur
as a $17.5 million dividend payment divided by 100,000,000 shares equals $0.175 per share which is less than $0.50 per share.

 

4.4 Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided
in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately
prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon
the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares
of Common Stock so purchasable immediately thereafter.

 

    	 	5	 

     

    

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock
(other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the shares of Common Stock),
or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of
the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall
thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu
of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have
received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification also
results in a change in the shares of Common Stock covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant
to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced
to less than the par value per share issuable upon exercise of the Warrant.

  

4.6. Issuance
in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional shares
of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price
or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance
to the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them
prior to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and
interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net
of redemptions), and (c) the Fair Market Value (as defined below) is below $9.20 per share, the exercise price of the warrants will be
adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Fair Market Value or (ii) the price at which the Company
issues the shares of Common Stock or equity-linked securities, and the $18.00 per share redemption trigger price will be adjusted (to
the nearest cent) to be equal to 180% of the higher of the Fair Market Value and the price at which the Company issues shares of Common
Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the
volume weighted average reported trading price of the shares of Common Stock for the twenty (20) trading days starting on the trading
day prior to the date of the consummation of the Business Combination.

 

4.7 Notices of Changes
in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant, the Company shall
give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase
or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail
the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in Sections 4.1,
4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to each Warrant holder, at the last address
set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice,
or any defect therein, shall not affect the legality or validity of such event.

 

4.8. No Fractional
Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue fractional
shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would
be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round
up to the nearest whole number of shares of Common Stock to be issued to the Warrant holder.

 

    	 	6	 

     

    

 

4.9. Form of
Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after
such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.10 Other Events.
In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose
of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust
the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

5. Transfer and Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants, properly guaranteed
and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number
of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry position,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more
new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

  

5.3. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required
by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6. Private
Warrants and Working Capital Warrants. The Warrant Agent shall not register any transfer of Private Warrants or Working Capital Warrants
until after the consummation by the Company of an initial Business Combination, except for transfers (i) among the initial stockholders
or to the initial stockholders’ or the Company’s officers, directors, consultants or their affiliates, (ii) to a holder’s
stockholders or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to
a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s
immediate family, in each case for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant
to a qualified domestic relations order, (vi) to the Company for no value for cancellation in connection with the consummation of
a Business Combination, (vii) in connection with the consummation of a Business Combination by private sales at prices no greater
than the price at which the Private Warrants were originally purchased, (viii) in the event of the Company’s liquidation prior
to its consummation of an initial Business Combination or (ix) in the event that, subsequent to the consummation of an initial Business
Combination, the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s
stockholders having the right to exchange their shares of Common Stock for cash, securities or other property, in each case (except for
clauses (vi), (viii) or (ix) or with the Company’s prior written consent) on the condition that prior to such registration
for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each transferee (each, a “Permitted
Transferee”) or the trustee or legal guardian for such transferee agrees to be bound by the transfer restrictions contained
in this section and any other applicable agreement the transferor is bound by.

 

    	 	7	 

     

    

 

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants on or after
the Detachment Date.

 

6. Redemption.

 

6.1. Redemption.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at
the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the closing price of the Common Stock equals or exceeds $18.00 per share (subject to adjustment in accordance
with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period commencing after
the Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given and provided
that there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current
prospectus relating thereto, available throughout the 30-day redemption or the Company has elected to require the exercise of
the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however, that if and when the Warrants become
redeemable by the Company, the Company may not exercise such redemption right if the issuance of shares of Common Stock upon exercise
of the Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect
such registration or qualification.

 

6.2. Date Fixed
for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants that are subject to redemption,
the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

  

6.3. Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3
of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and
prior to the Redemption Date. In the event the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless
basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate the number
of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” in such case. On
and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the
Warrants, the Redemption Price.

 

7. Other Provisions Relating to Rights
of Holders of Warrants.

 

7.1. No Rights
as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the Company, including,
without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to
receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other matter.

 

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

 

    	 	8	 

     

    

 

7.3. Reservation
of shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4. Registration
of shares of Common Stock. The Company agrees that as soon as practicable after the closing of its initial Business Combination, it
shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration, under the
Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is
necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states
where holders of Warrants then reside, the shares of Common Stock issuable upon exercise of the Warrants, to the extent an exemption is
not available. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration
statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement.
If any such registration statement has not been declared effective by the 90th day following the closing of the Business Combination,
holders of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination
and ending upon such registration statement being declared effective by the Securities and Exchange Commission, and during any other period
when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise
of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(c). The
Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities
law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not
required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under
U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and,
accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have
been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first
three sentences of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the prior written
consent of the Representative.

  

8. Concerning the Warrant Agent and
Other Matters.

 

8.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall,
with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of
the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon
request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties,
and obligations.

 

    	 	9	 

     

    

 

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3. Fees and
Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s
fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any shares of Common Stock to be issued pursuant to this Agreement, the Amended and Restated Certificate of Incorporation
of the Company, or any Warrant or as to whether any shares of Common Stock will, when issued, be valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently
account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common Stock through the exercise
of Warrants.

 

    	 	10	 

     

    

 

9. Miscellaneous Provisions.

 

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

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

TechStackery, Inc.

501 Brickell Key Drive, Suite 300

Miami, FL 33131

Attn: Scott W. Absher, Chief Executive
Officer

E-mail: scott.absher@shiftpixy.com

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently
given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so delivered, or (iii) if sent by certified
mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed
in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust
Company

1 State Street |

New York, New York 10004

Attn: Compliance Department

  

with a copy in each case to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Tahra Wright, Esq.

E-mail: twright@loeb.com

 

and

McDermott Will & Emery LLP

340 Madison Avenue

New York, NY 10173

Attn: Robert Cohen, Esq.

E-mail: rcohen@mwe.com

 

and

A.G.P./Alliance Global Partners

590 Madison Avenue, 28th Floor

New York, NY 10022

Attn: [_]

E-mail: [_]

 

    	 	11	 

     

    

 

9.3. Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the
laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in
any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for
the Southern District of New York. The Company hereby waives any objection that such courts represent an inconvenient forum. Any such
process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return
receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall be deemed
personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
registered holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right, remedy, or
claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and assigns and of the registered
holders of the Warrants.

  

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in
the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may require
any such holder to submit his Warrant for inspection by it.

 

9.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

  

9.7. Effect of
Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders of (i) a majority
of the then outstanding Public Warrants if such modification or amendment is being undertaken prior to, or in connection with, the consummation
of a Business Combination or (ii) a majority of the then outstanding Warrants if such modification or amendment is being undertaken
after the consummation of a Business Combination. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the
duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders. The provisions
of this Section 9.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

9.9 Trust Account
Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account established
by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust Account”),
including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. In the event
that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely against the
Company and not against the property held in the Trust Account.

 

9.10 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

  

[signature page follows]

 

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF, this
Agreement has been duly executed by the parties hereto as of the day and year first above written.

  

	 	TECHSTACKERY, INC. 
	 	 	 
	 	By:	 
	 	 	Name: Scott W. Absher
	 	 	Title: Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

[Signature Page to Warrant Agreement]

 

    	 	13	 

     

    

 

 EXHIBIT A

 

WARRANT CERTIFICATE

 

    	 	14	 

     

    

  

EXHIBIT B

 

LEGEND FOR PRIVATE PLACEMENT WARRANTS

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED
OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION
IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG TECHSTACKERY,
INC. (THE “COMPANY”), SHIFTPIXY INVESTMENTS, INC., A.G.P./ALLIANCE GLOBAL PARTNERS AND THE OTHER PARTIES THERETO,
THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE
UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN)
EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 5.6 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT
TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE AND SHARES OF COMMON STOCK
OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT
TO BE EXECUTED BY THE COMPANY.

  

    	 	15

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