Document:

goig_ex104

 

Exhibit 10.4

 

REGISTRATION RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and
entered into as of December 17, 2021, between Charge Enterprises,
Inc., a Delaware corporation (which was formerly known as
Transworld Holdings, Inc. and GoIP Global, Inc., a Colorado
corporation) (the “Company”), and the
purchaser signatory hereto (the “Purchaser”).

 

               This
Agreement is made pursuant to the Securities Purchase Agreement,
dated as of the date hereof, between the Company and the Purchaser
(the “Purchase
Agreement”).

 

               The
Company and the Purchaser hereby agrees as follows:

 

        1.                       

Definitions.

 

               Capitalized
terms used and not otherwise defined herein that are defined in the
Purchase Agreement shall have the meanings given such terms in the
Purchase Agreement. As used in this Agreement, the following
terms shall have the following meanings:

 

   
           “Advice” shall have the
meaning set forth in Section 6(d).

 

“Effectiveness Period”
shall have the meaning set forth in Section 2(a).

 

“Event” shall have the
meaning set forth in Section 2(d).

 

“Event Date” shall have
the meaning set forth in Section 2(d).

 

“Filing Date” means, (a)
with respect to the Initial Registration Statement required
hereunder, the 90th calendar day following the date
hereof, provided that if the
registration statement filed pursuant to the terms of that certain
registration rights agreement, dated May 19, 2021, by and among the
Company and Affiliates of the Purchaser, is not effective on or
prior to the 90th calendar day following the date hereof, the
Filing Date means the earlier of (i) the 20th calendar day
following the effective date of such registration statement, and
(ii) the 150th calendar day following the date hereof, and (b)
with respect to any additional Registration Statements which may be
required pursuant to Section 2(c) or Section 3(c), the earliest
practical date on which the Company is permitted by SEC Guidance to
file such additional Registration Statement related to the
Registrable Securities.

 

“Holder” or
“Holders” means the holder
or holders, as the case may be, from time to time of Registrable
Securities. The initial Holder is the Purchaser.

 

“Indemnified Party” shall
have the meaning set forth in Section 5(c).

 

 

-1-

 

 

“Indemnifying Party” shall
have the meaning set forth in Section 5(c).

 

“Initial Registration
Statement” means the initial Registration Statement
filed pursuant to this Agreement.

 

“Losses” shall have the
meaning set forth in Section 5(a).

 

“Plan of Distribution”
shall have the meaning set forth in Section 2(a).

 

“Prospectus” means the
prospectus included in a Registration Statement (including, without
limitation, a prospectus that includes any information previously
omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated by
the Commission pursuant to the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities
covered by a Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments,
and all material incorporated by reference or deemed to be
incorporated by reference in such Prospectus.

 

“Registrable Securities”
means, as of any date of determination, (a) all Conversion Shares
issuable upon conversion of the Preferred Stock (assuming on such
date the Preferred Stock is converted in full without regard to any
conversion limitations therein), (b) the Warrant Shares issuable
upon exercise of the Warrant (assuming on such date the Warrant is
exercised in full without regard to any exercise limitations
therein), (c) any
additional shares of Common Stock issuable in connection with any
anti-dilution provisions in the Preferred Designation and Warrant
(without giving effect to any limitations on conversion and
exercise set forth in the Preferred Designation and Warrant,
respectively) and (d) any securities issued or then issuable
upon any stock split, dividend or other distribution,
recapitalization or similar event with respect to the foregoing;
provided,
however, that any
such Registrable Securities shall cease to be Registrable
Securities (and the Company shall not be required to maintain the
effectiveness of any, or file another, Registration Statement
hereunder with respect thereto) for so long as (i) a Registration
Statement with respect to the sale of such Registrable Securities
is declared effective by the Commission under the Securities Act
and such Registrable Securities have been disposed of by the Holder
in accordance with such effective Registration Statement, (ii) such
Registrable Securities have been previously sold in accordance with
Rule 144, or (iii) such securities become eligible for resale
without volume or manner-of-sale restrictions and without current
public information pursuant to Rule 144, and the conditions of Rule
144(i)(2) have been met, as set forth in a written opinion letter
to such effect, addressed, delivered and acceptable to the Transfer
Agent and the affected Holders (assuming that such securities and
any securities issuable upon exercise, conversion or exchange of
which, or as a dividend upon which, such securities were issued or
are issuable, were at no time held by any Affiliate of the Company,
as reasonably determined by the Company, upon the advice of counsel
to the Company.

 

 

-2-

 

 

“Registration Statement”
means any registration statement required to be filed hereunder
pursuant to Section 2(a) and any additional registration statements
contemplated by Section 2(c) or Section 3(c), including (in each
case) the Prospectus, amendments and supplements to any such
registration statement or Prospectus, including pre- and
post-effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference
in any such registration statement.

 

 “Rule
415” means Rule 415 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended or
interpreted from time to time, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same
purpose and effect as such Rule.

 

“Rule 424” means Rule 424
promulgated by the Commission pursuant to the Securities Act, as
such Rule may be amended or interpreted from time to time, or any
similar rule or regulation hereafter adopted by the Commission
having substantially the same purpose and effect as such
Rule.

 

“Selling Stockholder
Questionnaire” shall have the meaning set forth in
Section 3(a).

 

“SEC Guidance” means (i)
any publicly-available written or oral guidance of the Commission
staff, or any comments, requirements or requests of the Commission
staff and (ii) the Securities Act.

 

        2.          

Shelf
Registration.

 

(a) On or prior to each
Filing Date, the Company shall prepare and file with the Commission
a Registration Statement covering the resale of all of the
Registrable Securities that are not then registered on an effective
Registration Statement for an offering to be made on a continuous
basis pursuant to Rule 415. Each Registration Statement filed
hereunder shall be on Form S-1 or such other form available to
register for resale the Registrable Securities as a secondary
offering and shall contain (unless otherwise directed by at least
85% in interest of the Holders) substantially the
“Plan of
Distribution” attached hereto as Annex A and substantially the
“Selling
Stockholder” section attached hereto as Annex B; provided, however, that no Holder shall
be required to be named as an “underwriter” without
such Holder’s express prior written consent. Subject to the
terms of this Agreement, the Company shall use its best efforts to
cause a Registration Statement filed under this Agreement
(including, without limitation, under Section 3(c)) to be declared
effective under the Securities Act as promptly as possible after
the filing thereof (in any case within six (6) months of the
Closing Date), and shall use its best efforts to keep such
Registration Statement continuously effective under the Securities
Act until the date that all Registrable Securities covered by such
Registration Statement (i) have been sold, thereunder or pursuant
to Rule 144, or (ii) may be sold without volume or manner-of-sale
restrictions pursuant to Rule 144 and without the requirement for
the Company to be in compliance with the current public information
requirement under Rule 144, and the conditions of Rule 144(i)(2)
have been met, as determined by the counsel to the Company pursuant
to a written opinion letter to such effect, addressed and
acceptable to the Transfer Agent and the affected Holders (the
“Effectiveness
Period”). The Company shall telephonically request
effectiveness of a Registration Statement as of 5:00 p.m. Eastern
Time on a Trading Day. The Company shall immediately notify the
Holders via facsimile or by e-mail of the effectiveness of a
Registration Statement by the next Trading Day that the Company
telephonically confirms effectiveness with the Commission, which
shall be the date requested for effectiveness of such Registration
Statement. The Company shall, by 9:30 a.m. Eastern Time on the
Trading Day five (5) days after the effective date of such
Registration Statement, file a final Prospectus with the Commission
as required by Rule 424. Failure to so notify the Holder within two
(2) Trading Days of such notification of effectiveness or failure
to file a final Prospectus as foresaid shall be deemed an Event
under Section 2(d).

 

(b)  Notwithstanding
the registration obligations set forth in Section 2(a), if the
Commission informs the Company that all of the Registrable
Securities cannot, as a result of the application of Rule 415, be
registered for resale as a secondary offering on a single
registration statement, the Company agrees to promptly inform each
of the Holders thereof and use its reasonable best efforts to file
amendments to the Initial Registration Statement as required by the
Commission, covering the maximum number of Registrable Securities
permitted to be registered by the Commission, on Form S-1 or such
other form available to register for resale the Registrable
Securities as a secondary offering, subject to the provisions of
Section 2(d) with respect to the payment of liquidated damages;
provided,
however, that prior
to filing such amendment, the Company shall be obligated to use
diligent efforts to advocate with the Commission for the
registration of all of the Registrable Securities in accordance
with the SEC Guidance, including without limitation, Compliance and
Disclosure Interpretation 612.09.

 

 

-3-

 

 

(c) Notwithstanding
any other provision of this Agreement and subject to the payment of
liquidated damages pursuant to Section 2(d), if the Commission or
any SEC Guidance sets forth a limitation on the number of
Registrable Securities permitted to be registered on a particular
Registration Statement as a secondary offering (and notwithstanding
that the Company used diligent efforts to advocate with the
Commission for the registration of all or a greater portion of
Registrable Securities), unless otherwise directed in writing by a
Holder as to its Registrable Securities, the number of Registrable
Securities to be registered on such Registration Statement will be
reduced as follows:

 

a.

First, the Company
shall reduce or eliminate any securities to be included other than
Registrable Securities;

 

b.

Second, the Company
shall reduce Registrable Securities represented by Preferred
Shares; and

 

c.

Third, the Company shall reduce
Registrable Securities
represented by Warrant Shares.

 

In
the event of a cutback hereunder, the Company shall give the Holder
at least five (5) Trading Days prior written notice along with the
calculations as to such Holder’s allotment. In the event the
Company amends the Initial Registration Statement in accordance
with the foregoing, the Company will use its best efforts to file
with the Commission, as promptly as allowed by Commission or SEC
Guidance provided to the Company or to registrants of securities in
general, one or more registration statements on Form S-1 or such
other form available to register for resale those Registrable
Securities that were not registered for resale on the Initial
Registration Statement, as amended.

 

(d) If: (i) the Initial
Registration Statement is not filed on or prior to its Filing Date
(if the Company files the Initial Registration Statement without
affording the Holders the opportunity to review and comment on the
same as required by Section 3(a) herein, the Company shall be
deemed to have not satisfied this clause (i)), or (ii) the Company
fails to file with the Commission a request for acceleration of a
Registration Statement in accordance with Rule 461 promulgated by
the Commission pursuant to the Securities Act, within five Trading
Days of the date that the Company is notified (orally or in
writing, whichever is earlier) by the Commission that such
Registration Statement will not be “reviewed” or will
not be subject to further review, or (iii) the Initial Registration
Statement is not declared effective within six (6) months of the
Closing Date, or (iv) after the effective date of a Registration
Statement, such Registration Statement ceases for any reason to
remain continuously effective as to all Registrable Securities
included in such Registration Statement, or the Holders are
otherwise not permitted to utilize the Prospectus therein to resell
such Registrable Securities, for more than ten (10) consecutive
calendar days or more than an aggregate of fifteen (15) calendar
days (which need not be consecutive calendar days) during any
12-month period or (v) the Company shall fail for any reason to
satisfy the current public information requirement under Rule 144
or the requirements of Rule 144(i)(2) as to the applicable
Registrable Securities (any such failure or breach being referred
to as an “Event”, and for purposes
of clauses (i), (iii) and (v), the date on which such Event occurs,
and for purpose of clause (ii) the date on which such five (5)
Trading Day period is exceeded, and for purpose of clause (iv) the
date on which such ten (10) or fifteen (15) calendar day period, as
applicable, is exceeded being referred to as “Event Date”), then, in
addition to any other rights the Holders may have hereunder or
under applicable law, on each such Event Date and on each monthly
anniversary of each such Event Date (if the applicable Event shall
not have been cured by such date) until the applicable Event is
cured, the Company shall pay to the Holders an amount in cash, as
partial liquidated damages and not as a penalty, their pro rata
portion of $75,000, on the Event Date and on every thirtieth
(30th) day
(pro rated for periods totaling less than thirty days) thereafter.
The foregoing liquidated damages shall not apply if the Registrable
Securities may be sold without volume or manner-of-sale
restrictions pursuant to Rule 144 at the time the Event occurs,
provided that the Company shall also be in compliance with the
requirements of Rule 144(i)(2) and the current public information
requirement under Rule 144 to the extent required. If the Company
fails to pay any partial liquidated damages pursuant to this
Section in full within seven days after the date payable, the
Company will pay interest thereon at a rate of 18% per annum (or
such lesser maximum amount that is permitted to be paid by
applicable law) to the Holder, accruing daily from the date such
partial liquidated damages are due until such amounts, plus all
such interest thereon, are paid in full. The partial liquidated
damages pursuant to the terms hereof shall apply on a daily pro
rata basis for any portion of a month prior to the cure of an
Event.

 

 

-4-

 

 

(e) [Reserved]

 

(f) Notwithstanding
anything to the contrary contained herein, in no event shall the
Company be permitted to name any Holder or affiliate of a Holder as
any Underwriter without the prior written consent of such
Holder.

 

3.            

Registration
Procedures.

 

               In
connection with the Company’s registration obligations
hereunder, the Company shall:

 

(a) Not less than five
(5) Trading Days prior to the filing of each Registration Statement
and not less than one (1) Trading Day prior to the filing of any
related Prospectus or any amendment or supplement thereto
(including any document that would be incorporated or deemed to be
incorporated therein by reference), the Company shall (i) furnish
to each Holder copies of all such documents proposed to be filed,
which documents (other than those incorporated or deemed to be
incorporated by reference) will be subject to the review of such
Holders, and (ii) cause its officers and directors, counsel and
independent registered public accountants to respond to such
inquiries as shall be necessary, in the reasonable opinion of
respective counsel to each Holder, to conduct a reasonable
investigation within the meaning of the Securities Act. The Company
shall not file a Registration Statement or any such Prospectus or
any amendments or supplements thereto to which the Holders of a
majority of the Registrable Securities shall reasonably object in
good faith, provided that, the Company is notified of such
objection in writing no later than five (5) Trading Days after the
Holders have been so furnished copies of a Registration Statement
or one (1) Trading Day after the Holders have been so furnished
copies of any related Prospectus or amendments or supplements
thereto. Each Holder agrees to furnish to the Company a completed
questionnaire in the form attached to this Agreement as
Annex B (a
“Selling Stockholder
Questionnaire”) on a date that is not less than two
(2) Trading Days prior to the Filing Date or by the end of the
fourth (4th) Trading Day
following the date on which such Holder receives draft materials in
accordance with this Section.

 

 

-5-

 

 

(b) (i) Prepare and
file with the Commission such amendments, including post-effective
amendments, to a Registration Statement and the Prospectus used in
connection therewith as may be necessary to keep a Registration
Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with
the Commission such additional Registration Statements in order to
register for resale under the Securities Act all of the Registrable
Securities, (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement (subject to the
terms of this Agreement), and, as so supplemented or amended, to be
filed pursuant to Rule 424, (iii) respond as promptly as reasonably
possible to any comments received from the Commission with respect
to a Registration Statement or any amendment thereto and provide as
promptly as reasonably possible to the Holders true and complete
copies of all correspondence from and to the Commission relating to
a Registration Statement (provided that, the Company shall excise
any information contained therein which would constitute material
non-public information regarding the Company or any of its
Subsidiaries), and (iv) comply in all material respects with the
applicable provisions of the Securities Act and the Exchange Act
with respect to the disposition of all Registrable Securities
covered by a Registration Statement during the applicable period in
accordance (subject to the terms of this Agreement) with the
intended methods of disposition by the Holders thereof set forth in
such Registration Statement as so amended or in such Prospectus as
so supplemented.

 

(c) If during the
Effectiveness Period, the number of Registrable Securities at any
time exceeds 100% of the number of shares of Common Stock
constituting Registrable Securities then registered in a
Registration Statement, then the Company shall file, as soon as
reasonably practicable, an additional Registration Statement
covering the resale by the Holders of not less than the number of
such Registrable Securities.

 

(d) Notify the Holders
of Registrable Securities to be sold (which notice shall, pursuant
to clauses (iii) through (vi) hereof, be accompanied by an
instruction to suspend the use of the Prospectus until the
requisite changes have been made) as promptly as reasonably
possible (and, in the case of (i)(A) below, not less than one (1)
Trading Day prior to such filing) and (if requested by any such
Person) confirm such notice in writing no later than one (1)
Trading Day following the day (i)(A) when a Prospectus or any
Prospectus supplement or post-effective amendment to a Registration
Statement is proposed to be filed, (B) when the Commission notifies
the Company whether there will be a “review” of such
Registration Statement and whenever the Commission comments in
writing on such Registration Statement, and (C) with respect to a
Registration Statement or any post-effective amendment, when the
same has become effective, (ii) of any request by the Commission or
any other federal or state governmental authority for amendments or
supplements to a Registration Statement or Prospectus or for
additional information, (iii) of the issuance by the Commission or
any other federal or state governmental authority of any stop order
suspending the effectiveness of a Registration Statement covering
any or all of the Registrable Securities or the initiation of any
Proceedings for that purpose, (iv) of the receipt by the Company of
any notification with respect to the suspension of the
qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the
initiation or threatening of any Proceeding for such purpose, (v)
of the occurrence of any event or passage of time that makes the
financial statements included in a Registration Statement
ineligible for inclusion therein or any statement made in a
Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any
material respect or that requires any revisions to a Registration
Statement, Prospectus or other documents so that, in the case of a
Registration Statement or the Prospectus, as the case may be, it
will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under
which they were made, not misleading, and (vi) of the occurrence or
existence of any pending corporate development with respect to the
Company that the Company believes may be material and that, in the
determination of the Company, makes it not in the best interest of
the Company to allow continued availability of a Registration
Statement or Prospectus, provided, however, in no event shall any
such notice contain any information which would constitute
material, non-public information regarding the Company or any of
its Subsidiaries.

 

 

-6-

 

 

(e) Use its best
efforts to avoid the issuance of, or, if issued, obtain the
withdrawal of (i) any order stopping or suspending the
effectiveness of a Registration Statement, or (ii) any suspension
of the qualification (or exemption from qualification) of any of
the Registrable Securities for sale in any jurisdiction, at the
earliest practicable moment.

 

(f) Furnish to each
Holder, without charge, at least one conformed copy of each such
Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or
deemed to be incorporated therein by reference to the extent
requested by such Person, and all exhibits to the extent requested
by such Person (including those previously furnished or
incorporated by reference) promptly after the filing of such
documents with the Commission; provided, that any such item which
is available on the EDGAR system (or successor thereto) need not be
furnished in physical form.

 

(g) Subject to the
terms of this Agreement, the Company hereby consents to the use of
such Prospectus and each amendment or supplement thereto by each of
the selling Holders in connection with the offering and sale of the
Registrable Securities covered by such Prospectus and any amendment
or supplement thereto, except after the giving of any notice
pursuant to Section 3(d).

 

(h)  Prior to any
resale of Registrable Securities by a Holder, or from time to time
as requested by the Holder, use its reasonable best efforts to
register or qualify or cooperate with the selling Holders in
connection with the 
registration or qualification (or exemption from
the Registration or qualification) of such Registrable Securities
for the resale by the Holder under the securities or Blue Sky laws
of such jurisdictions within the United States as any Holder
reasonably requests in writing, to keep each registration or
qualification (or exemption therefrom) effective during the
Effectiveness Period and to do any and all other acts or things
reasonably necessary to enable the disposition in such
jurisdictions of the Registrable Securities covered by each
Registration Statement, provided that the Company shall not be
required to qualify generally to do business in any jurisdiction
where it is not then so qualified, subject the Company to any
material tax in any such jurisdiction where it is not then so
subject or file a general consent to service of process in any such
jurisdiction.

 

(i) If requested by a
Holder, cooperate with such Holder to facilitate the timely
preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to a
Registration Statement, which certificates shall be free, to the
extent permitted by the Purchase Agreement, of all restrictive
legends, and to enable such Registrable Securities to be in such
denominations and registered in such names as any such Holder may
request.

 

(j) Upon the occurrence
of any event contemplated by Section 3(d), as promptly as
reasonably possible under the circumstances taking into account the
Company’s good faith assessment of any adverse consequences
to the Company and its shareholders of the premature disclosure of
such event, prepare a supplement or amendment, including a
post-effective amendment, to a Registration Statement or a
supplement to the related Prospectus or any document incorporated
or deemed to be incorporated therein by reference, and file any
other required document so that, as thereafter delivered, neither a
Registration Statement nor such Prospectus will contain an untrue
statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made,
not misleading. If the Company
notifies the Holders in accordance with clauses (iii) through (vi)
of Section 3(d) above to suspend the use of any Prospectus until
the requisite changes to such Prospectus have been made, then the
Holders shall suspend use of such Prospectus. The Company will use
its best efforts to ensure that the use of the Prospectus may be
resumed as promptly as is practicable. The Company shall be
entitled to exercise its right under this Section 3(j) to suspend
the availability of a Registration Statement and Prospectus,
subject to the payment of partial liquidated damages otherwise
required pursuant to Section 2(d), for a period not to exceed 60
calendar days (which need not be consecutive days) in any 12-month
period.

 

 

-7-

 

 

(k) Otherwise use
reasonable best efforts to comply with all applicable rules and
regulations of the Commission under the Securities Act and the
Exchange Act, including, without limitation, Rule 172 under the
Securities Act, file any final Prospectus, including any supplement
or amendment thereof, with the Commission pursuant to Rule 424
under the Securities Act, promptly inform the Holders in writing
if, at any time during the Effectiveness Period, the Company does
not satisfy the conditions specified in Rule 172 and, as a result
thereof, the Holders are required to deliver a Prospectus in
connection with any disposition of Registrable Securities and take
such other actions as may be reasonably necessary to facilitate the
registration of the Registrable Securities hereunder.

 

(l) Intentionally
Omitted.

 

(m) The Company may
require each selling Holder to furnish to the Company a certified
statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the
natural persons thereof that have voting and dispositive control
over the shares. During any periods that the Company is unable to
meet its obligations hereunder with respect to the registration of
the Registrable Securities solely because any Holder fails to
furnish such information within three Trading Days of the
Company’s request, any liquidated damages that are accruing
at such time as to such Holder only shall be tolled and any Event
that may otherwise occur solely because of such delay shall be
suspended as to such Holder only, until such information is
delivered to the Company.

 

        4.                       
Registration
Expenses. All fees and expenses incident to the performance
of or compliance with, this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold
pursuant to a Registration Statement. The fees and expenses
referred to in the foregoing sentence shall include, without
limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses of the Company’s
counsel and independent registered public accountants) (A) with
respect to filings made with the Commission, (B) with respect to
filings required to be made with any Trading Market on which the
Common Stock is then listed for trading, and (C) in compliance with
applicable state securities or Blue Sky laws reasonably agreed to
by the Company in writing (including, without limitation, fees and
disbursements of counsel for the Company in connection with Blue
Sky qualifications or exemptions of the Registrable Securities),
(ii) printing expenses (including, without limitation, expenses of
printing certificates for Registrable Securities), (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) Securities Act liability insurance, if
the Company so desires such insurance, (vi) fees and expenses of
all other Persons retained by the Company in connection with the
consummation of the transactions contemplated by this Agreement and
(vii) reasonable and
reasonably-documented fees and disbursements, not to exceed $10,000
in the aggregate, of one counsel for the Purchaser. In
addition, the Company shall be responsible for all of its internal
expenses incurred in connection with the consummation of the
transactions contemplated by this Agreement (including, without
limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual
audit and the fees and expenses incurred in connection with the
listing of the Registrable Securities on any securities exchange as
required hereunder. In no event shall the Company be responsible
for any broker or similar commissions of any Holder or, except to
the extent provided for in the Transaction Documents, any legal
fees or other costs of the Holders.

 

 

-8-

 

 

        5.                       
Indemnification.

 

(a) Indemnification by the Company.
The Company shall, notwithstanding any termination of this
Agreement, indemnify and hold harmless each Holder, the officers,
directors, members, partners, agents, and employees (and any other
Persons with a functionally equivalent role of a Person holding
such titles, notwithstanding a lack of such title or any other
title) of each of them, each Person who controls any such Holder
(within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act) and the officers, directors, members,
shareholders, partners, agents and employees (and any other Persons
with a functionally equivalent role of a Person holding such
titles, notwithstanding a lack of such title or any other title) of
each such controlling Person, to the fullest extent permitted by
applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation,
reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as incurred,
arising out of or relating to (1) any untrue or alleged untrue
statement of a material fact contained in a Registration Statement,
any Prospectus or any form of prospectus or in any amendment or
supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material
fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or supplement
thereto, in light of the circumstances under which they were made)
not misleading or (2) any violation or alleged violation by the
Company of the Securities Act, the Exchange Act or any state
securities law, or any rule or regulation thereunder, in connection
with the performance of its obligations under this Agreement,
except to the extent, but only to the extent, that (i) such untrue
statements or omissions are based solely upon information regarding
such Holder furnished in writing to the Company by such Holder
expressly for use therein, or to the extent that such information
relates to such Holder or such Holder’s proposed method of
distribution of Registrable Securities and was reviewed and
expressly approved in writing by such Holder expressly for use in a
Registration Statement, such Prospectus or in any amendment or
supplement thereto (it being understood that the Holder has
approved Annex A hereto for this purpose) or (ii) in the case of an
occurrence of an event of the type specified in Section
3(d)(iii)-(vi), the use by such Holder of an outdated, defective or
otherwise unavailable Prospectus after the Company has notified
such Holder in writing that the Prospectus is outdated, defective
or otherwise unavailable for use by such Holder and prior to the
receipt by such Holder of the Advice contemplated in Section 6(d).
The Company shall notify the Holders promptly of the institution,
threat or assertion of any Proceeding arising from or in connection
with the transactions contemplated by this Agreement of which the
Company is aware. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of such
indemnified person and shall survive the transfer of any
Registrable Securities by any of the Holders in accordance with
Section 6(h).

 

(b) Indemnification by Holders.
Each Holder shall, severally and not jointly, indemnify and hold
harmless the Company, its directors, officers, agents and
employees, each Person who controls the Company (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange
Act), and the directors, officers, agents or employees of such
controlling Persons, to the fullest extent permitted by applicable
law, from and against all Losses, as incurred, to the extent
arising out of or based solely upon: any untrue or alleged untrue
statement of a material fact contained in any Registration
Statement, any Prospectus, or in any amendment or supplement
thereto or in any preliminary prospectus, or arising out of or
relating to any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or supplement thereto, in
light of the circumstances under which they were made) not
misleading (i) to the extent, but only to the extent, that such
untrue statement or omission is contained in any information so
furnished in writing by such Holder to the Company expressly for
inclusion in such Registration Statement or such Prospectus or (ii)
to the extent, but only to the extent, that such information
relates to such Holder’s information provided in the Selling
Stockholder Questionnaire or the proposed method of distribution of
Registrable Securities and was reviewed and expressly approved in
writing by such Holder expressly for use in a Registration
Statement (it being understood that the Holder has approved Annex A
hereto for this purpose), such Prospectus or in any amendment or
supplement thereto. In no event shall the liability of a selling
Holder be greater in amount than the dollar amount of the proceeds
(net of all expenses paid by such Holder in connection with any
claim relating to this Section 5 and the amount of any damages such
Holder has otherwise been required to pay by reason of such untrue
statement or omission) received by such Holder upon the sale of the
Registrable Securities included in the Registration Statement
giving rise to such indemnification obligation.

 

 

-9-

 

 

(c) Conduct of Indemnification
Proceedings. If any Proceeding shall be brought or asserted
against any Person entitled to indemnity hereunder (an
“Indemnified
Party”), such Indemnified Party shall promptly notify
the Person from whom indemnity is sought (the “Indemnifying Party”) in
writing, and the Indemnifying Party shall have the right to assume
the defense thereof, including the employment of counsel reasonably
satisfactory to the Indemnified Party and the payment of all fees
and expenses incurred in connection with defense thereof, provided
that the failure of any Indemnified Party to give such notice shall
not relieve the Indemnifying Party of its obligations or
liabilities pursuant to this Agreement, except (and only) to the
extent that it shall be finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or
further review) that such failure shall have materially and
adversely prejudiced the Indemnifying Party.

 

               An
Indemnified Party shall have the right to employ separate counsel
in any such Proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense
of such Indemnified Party or Parties unless: (1) the Indemnifying
Party has agreed in writing to pay such fees and expenses, (2) the
Indemnifying Party shall have failed promptly to assume the defense
of such Proceeding and to employ counsel reasonably satisfactory to
such Indemnified Party in any such Proceeding, or (3) the named
parties to any such Proceeding (including any impleaded parties)
include both such Indemnified Party and the Indemnifying Party, and
counsel to the Indemnified Party shall reasonably believe that a
material conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the
Indemnifying Party (in which case, if such Indemnified Party
notifies the Indemnifying Party in writing that it elects to employ
separate counsel at the expense of the Indemnifying Party, the
Indemnifying Party shall not have the right to assume the defense
thereof and the reasonable fees and expenses of no more than one
separate counsel shall be at the expense of the Indemnifying
Party). The Indemnifying Party shall not be liable for any
settlement of any such Proceeding effected without its written
consent, which consent shall not be unreasonably withheld or
delayed. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, effect any settlement of any
pending Proceeding in respect of which any Indemnified Party is a
party, unless such settlement includes an unconditional release of
such Indemnified Party from all liability on claims that are the
subject matter of such Proceeding.

 

               Subject
to the terms of this Agreement, all reasonable fees and expenses of
the Indemnified Party (including reasonable fees and expenses to
the extent incurred in connection with investigating or preparing
to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred,
within ten Trading Days of written notice thereof to the
Indemnifying Party, provided that the Indemnified Party shall
promptly reimburse the Indemnifying Party for that portion of such
fees and expenses applicable to such actions for which such
Indemnified Party is finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or
further review) not to be entitled to indemnification
hereunder.

 

 

-10-

 

 

(d) Contribution. If the
indemnification under Section 5(a) or 5(b) is unavailable to an
Indemnified Party or insufficient to hold an Indemnified Party
harmless for any Losses, then each Indemnifying Party shall
contribute to the amount paid or payable by such Indemnified Party,
in such proportion as is appropriate to reflect the relative fault
of the Indemnifying Party and Indemnified Party in connection with
the actions, statements or omissions that resulted in such Losses
as well as any other relevant equitable considerations. The
relative fault of such Indemnifying Party and Indemnified Party
shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a
material fact, has been taken or made by, or relates to information
supplied by, such Indemnifying Party or Indemnified Party, and the
parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such action, statement or
omission. The amount paid or payable by a party as a result of any
Losses shall be deemed to include, subject to the limitations set
forth in this Agreement, any reasonable attorneys’ or other
fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for
such fees or expenses if the indemnification provided for in this
Section was available to such party in accordance with its
terms.

 

               The
parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 5(d) were determined by pro
rata allocation or by any other method of allocation that does not
take into account the equitable considerations referred to in the
immediately preceding paragraph. In no event shall the contribution
obligation of a Holder of Registrable Securities be greater in
amount than the dollar amount of the proceeds (net of all expenses
paid by such Holder in connection with any claim relating to this
Section 5 and the amount of any damages such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission) received by it upon the
sale of the Registrable Securities giving rise to such contribution
obligation.

 

The
indemnity and contribution agreements contained in this Section are
in addition to any liability that the Indemnifying Parties may have
to the Indemnified Parties.

 

        6.             

Miscellaneous.

 

(a) Remedies. In the event of a
breach by the Company or by a Holder of any of their respective
obligations under this Agreement, each Holder or the Company, as
the case may be, in addition to being entitled to exercise all
rights granted by law and under this Agreement, including recovery
of damages, shall be entitled to specific performance of its rights
under this Agreement. Each of the Company and each Holder agrees
that monetary damages would not provide adequate compensation for
any losses incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that, in the
event of any action for specific performance in respect of such
breach, it shall not assert or shall waive the defense that a
remedy at law would be adequate.

 

 

-11-

 

 

(b) No Piggyback on Registrations;
Prohibition on Filing Other Registration Statements. Neither
the Company nor any of its security holders (other than the Holders
in such capacity pursuant hereto) may include securities of the
Company in any Registration Statements other than the Registrable
Securities or any securities held by Affiliates of the Holders. The
Company shall not file any other registration statements until at
least six months after all Registrable Securities are registered
pursuant to a Registration Statement that is declared effective by
the Commission, provided that this Section 6(b) shall not prohibit
the Company from filing amendments to registration statements filed
prior to the date of this Agreement.

 

(c) [Reserved]

 

(d) Discontinued Disposition. By
its acquisition of Registrable Securities, each Holder agrees that,
upon receipt of a notice from the Company of the occurrence of any
event of the kind described in Section 3(d)(iii) through (vi), such
Holder will forthwith discontinue disposition of such Registrable
Securities under a Registration Statement until it is advised in
writing (the “Advice”) by the Company
that the use of the applicable Prospectus (as it may have been
supplemented or amended) may be resumed. The Company will use its
best efforts to ensure that the use of the Prospectus may be
resumed as promptly as is practicable. The Company agrees and
acknowledges that any periods during which the Holder is required
to discontinue the disposition of the Registrable Securities
hereunder shall be subject to the provisions of Section
2(d).

 

(e) Piggy-Back Registrations. If,
at any time during the Effectiveness Period, there is not an
effective Registration Statement covering all of the Registrable
Securities and the Company shall determine to prepare and file with
the Commission a registration statement relating to an offering for
its own account or the account of others under the Securities Act
of any of its equity securities, other than on Form S-4 or Form S-8
(each as promulgated under the Securities Act) or their then
equivalents relating to equity securities to be issued solely in
connection with any acquisition of any entity or business or equity
securities issuable in connection with the Company’s stock
option or other employee benefit plans, then the Company shall
deliver to each Holder a written notice of such determination and,
if within fifteen days after the date of the delivery of such
notice, any such Holder shall so request in writing, the Company
shall include in such registration statement all or any part of
such Registrable Securities such Holder requests to be registered;
provided,
however, that the
Company shall not be required to register any Registrable
Securities pursuant to this Section 6(e) that are eligible for
resale pursuant to Rule 144 (without volume restrictions or current
public information requirements) promulgated by the Commission
pursuant to the Securities Act or that are the subject of a then
effective Registration Statement that is available for resales or
other dispositions by such Holder.

 

 

-12-

 

 

(f) Amendments and Waivers. The
provisions of this Agreement, including the provisions of this
sentence, may not be amended, modified or supplemented, and waivers
or consents to departures from the provisions hereof may not be
given, unless the same shall be in writing and signed by the
Company and the Holders of 50.1% or more of the then outstanding
Registrable Securities (for purposes of clarification, this
includes any Registrable Securities issuable upon exercise or
conversion of any Security), provided that, if any amendment,
modification or waiver disproportionately and adversely impacts a
Holder (or group of Holders), the consent of such
disproportionately impacted Holder (or group of Holders) shall be
required. If a Registration Statement does not register all of the
Registrable Securities pursuant to a waiver or amendment done in
compliance with the previous sentence, then the number of
Registrable Securities to be registered for each Holder shall be
reduced pro rata among all Holders and each Holder shall have the
right to designate which of its Registrable Securities shall be
omitted from such Registration Statement. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof
with respect to a matter that relates exclusively to the rights of
a Holder or some Holders and that does not directly or indirectly
affect the rights of other Holders may be given only by such Holder
or Holders of all of the Registrable Securities to which such
waiver or consent relates; provided, however, that the provisions of
this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the first sentence of this
Section 6(f). No consideration shall be offered or paid to any
Person to amend or consent to a waiver or modification of any
provision of this Agreement unless the same consideration also is
offered to all of the parties to this Agreement.

 

(g) Notices. Any and all notices or
other communications or deliveries required or permitted to be
provided hereunder shall be delivered as set forth in the Purchase
Agreement.

 

(h) Successors and Assigns. This
Agreement shall inure to the benefit of and be binding upon the
successors and permitted assigns of each of the parties and shall
inure to the benefit of each Holder. The Company may not assign
(except by merger) its rights or obligations hereunder without the
prior written consent of all of the Holders of the then outstanding
Registrable Securities. Each Holder may assign their respective
rights hereunder in the manner and to the Persons as permitted
under Section 5.5 of the Purchase Agreement.

 

(i) No Inconsistent Agreements.
Neither the Company nor any of its Subsidiaries has entered, as of
the date hereof, nor shall the Company or any of its Subsidiaries,
on or after the date of this Agreement, enter into any agreement
with respect to its securities, that would have the effect of
impairing the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. Except as set forth
on Schedule 6(i),
neither the Company nor any of its Subsidiaries has previously
entered into any agreement granting any registration rights with
respect to any of its securities to any Person that have not been
satisfied in full.

 

 

-13-

 

 

(j) Execution and Counterparts.
This Agreement may be executed in two or more counterparts, all of
which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been
signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In
the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file,
such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile or
“.pdf” signature page were an original
thereof.

 

(k) Governing Law. All questions
concerning the construction, validity, enforcement and
interpretation of this Agreement shall be determined in accordance
with the provisions of the Purchase Agreement.

 

(l) Cumulative Remedies. The
remedies provided herein are cumulative and not exclusive of any
other remedies provided by law.

 

(m) Severability. If any term,
provision, covenant or restriction of this Agreement is held by a
court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants
and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their commercially reasonable
efforts to find and employ an alternative means to achieve the same
or substantially the same result as that contemplated by such term,
provision, covenant or restriction. It is hereby stipulated and
declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and
restrictions without including any of such that may be hereafter
declared invalid, illegal, void or unenforceable.

 

(n) Headings. The headings in this
Agreement are for convenience only, do not constitute a part of the
Agreement and shall not be deemed to limit or affect any of the
provisions hereof.

 

 

********************

 

(Signature Pages Follow)

 

	
	
	
 

	
 

	
 

	
 

 

-14-

 

 

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

 

	

CHARGE ENTERPRISES, INC.

 

 

	

By:_/s/
Andrew
Fox____________________________

     Name:
Andrew Fox

     Title:
Chief Executive Officer

 

 

 

 

[SIGNATURE
PAGE OF HOLDERS FOLLOWS]

 

 

-15-

 

[SIGNATURE
PAGE OF PURCHASERS]

 

 

	
 

	
 

	

Arena
Origination Co., LLC

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

/s/
Lawrence
Cutler 

	
 

	
 

	

Lawrence
Cutler

	
 

	
 

	

Authorized
Signatory

 

	
 

	
 

	
 

	
 

	

Arena
Special Opportunities Fund, LP

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

/s/
Lawrence
Cutler 

	
 

	
 

	

Lawrence
Cutler

	
 

	
 

	

Authorized
Signatory

	
 

	
 

	
 

	
 

	

Arena
Special Opportunities Partners I, LP

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

/s/
Lawrence
Cutler 

	
 

	
 

	

Lawrence
Cutler

	
 

	
 

	

Authorized
Signatory

 

	
 

	
 

	
 

	
 

	

Mt.
Whitney Securities, LLC

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

/s/
Lawrence
Cutler 

	
 

	
 

	

Lawrence
Cutler

	
 

	
 

	

Authorized
Signatory

 

 

 

 

 

-16-

 

Annex A

 

Plan of Distribution

 

Each
Selling Stockholder (the “Selling Shareholders”) of
the securities and any of their pledgees, assignees and
successors-in-interest may, from time to time, sell any or all of
their securities covered hereby on the principal Trading Market or
any other stock exchange, market or trading facility on which the
securities are traded or in private transactions. These sales may
be at fixed or negotiated prices. A Selling Stockholder may use any
one or more of the following methods when selling
securities:

 

●

ordinary brokerage
transactions and transactions in which the broker-dealer solicits
purchasers;

 

●

block trades in
which the broker-dealer will attempt to sell the securities as
agent but may position and resell a portion of the block as
principal to facilitate the transaction;

 

●

purchases by a
broker-dealer as principal and resale by the broker-dealer for its
account;

 

●

an exchange
distribution in accordance with the rules of the applicable
exchange;

 

●

privately
negotiated transactions;

 

●

settlement of short
sales;

 

●

in transactions
through broker-dealers that agree with the Selling Shareholders to
sell a specified number of such securities at a stipulated price
per security;

 

●

through the writing
or settlement of options or other hedging transactions, whether
through an options exchange or otherwise;

 

●

a combination of
any such methods of sale; or

 

●

any other method
permitted pursuant to applicable law.

 

The
Selling Shareholders may also sell securities under Rule 144 or any
other exemption from registration under the Securities Act of 1933,
as amended (the “Securities Act”), if
available, rather than under this prospectus.

 

Broker-dealers
engaged by the Selling Shareholders may arrange for other
brokers-dealers to participate in sales. Broker-dealers may receive
commissions or discounts from the Selling Shareholders (or, if any
broker-dealer acts as agent for the purchaser of securities, from
the purchaser) in amounts to be negotiated, but, except as set
forth in a supplement to this Prospectus, in the case of an agency
transaction not in excess of a customary brokerage commission in
compliance with FINRA Rule 2440; and in the case of a principal
transaction a markup or markdown in compliance with FINRA
IM-2440.

 

 

-1-

 

 

In
connection with the sale of the securities or interests therein,
the Selling Shareholders may enter into hedging transactions with
broker-dealers or other financial institutions, which may in turn
engage in short sales of the securities in the course of hedging
the positions they assume. The Selling Shareholders may also sell
securities short and deliver these securities to close out their
short positions, or loan or pledge the securities to broker-dealers
that in turn may sell these securities. The Selling Shareholders
may also enter into option or other transactions with
broker-dealers or other financial institutions or create one or
more derivative securities which require the delivery to such
broker-dealer or other financial institution of securities offered
by this prospectus, which securities such broker-dealer or other
financial institution may resell pursuant to this prospectus (as
supplemented or amended to reflect such transaction).

 

The
Selling Shareholders and any broker-dealers or agents that are
involved in selling the securities may be deemed to be
“underwriters” within the meaning of the Securities Act
in connection with such sales. In such event, any commissions
received by such broker-dealers or agents and any profit on the
resale of the securities purchased by them may be deemed to be
underwriting commissions or discounts under the Securities Act.
Each Selling Stockholder has informed the Company that it does not
have any written or oral agreement or understanding, directly or
indirectly, with any person to distribute the
securities.

 

The
Company is required to pay certain fees and expenses incurred by
the Company incident to the registration of the securities. The
Company has agreed to indemnify the Selling Shareholders against
certain losses, claims, damages and liabilities, including
liabilities under the Securities Act.

 

We
agreed to keep this prospectus effective until the earlier of (i)
the date on which the securities may be resold by the Selling
Shareholders without registration and without regard to any volume
or manner-of-sale limitations by reason of Rule 144, without the
requirement for the Company to be in compliance with the current
public information under Rule 144 under the Securities Act or any
other rule of similar effect or (ii) all of the securities have
been sold pursuant to this prospectus or Rule 144 under the
Securities Act or any other rule of similar effect. The resale
securities will be sold only through registered or licensed brokers
or dealers if required under applicable state securities laws. In
addition, in certain states, the resale securities covered hereby
may not be sold unless they have been registered or qualified for
sale in the applicable state or an exemption from the registration
or qualification requirement is available and is complied
with.

 

Under
applicable rules and regulations under the Exchange Act, any person
engaged in the distribution of the resale securities may not
simultaneously engage in market making activities with respect to
the common stock for the applicable restricted period, as defined
in Regulation M, prior to the commencement of the distribution. In
addition, the Selling Shareholders will be subject to applicable
provisions of the Exchange Act and the rules and regulations
thereunder, including Regulation M, which may limit the timing of
purchases and sales of the common stock by the Selling Shareholders
or any other person. We will make copies of this prospectus
available to the Selling Shareholders and have informed them of the
need to deliver a copy of this prospectus to each purchaser at or
prior to the time of the sale (including by compliance with Rule
172 under the Securities Act).

 

 

	
	
	
 

	
 

	
 

	
 

 

-2-

 

Annex B

 

SELLING SHAREHOLDERS

 

The
common stock being offered by the selling shareholders are those
issuable to the selling shareholders, upon conversion of the
Preferred Stock and exercise of the Warrants. We are registering
the shares of common stock in order to permit the selling
shareholders to offer the shares for resale from time to time.
Except for the ownership of the Preferred Stock and Warrants, the
selling shareholders have not had any material relationship with us
within the past three years.

 

The
table below lists the selling shareholders and other information
regarding the beneficial ownership of the shares of common stock by
each of the selling shareholders. The second column lists the
number of shares of common stock beneficially owned by each selling
shareholder, based on its ownership of the shares of Preferred
Stock and Warrants, as of ________, 2021, assuming conversion of
the Preferred Stock and exercise of Warrants held by the selling
shareholders on that date, without regard to any limitations on
exercises.

 

The
third column lists the shares of common stock being offered by this
prospectus by the selling shareholders.

 

In
accordance with the terms of a registration rights agreement with
the selling shareholders, this prospectus generally covers the
resale of the maximum number of shares of common stock issuable
upon conversion of the Preferred Stock and exercise of the
Warrants, determined as if the outstanding Preferred Stock and
Warrants were converted and exercised in full, respectively, as of
the trading day immediately preceding the date this registration
statement was initially filed with the SEC, subject to adjustment
as provided in the registration right agreement, without regard to
any limitations on the conversion of the Preferred Stock and
exercise of the Warrants. The fourth column assumes the sale
of all of the shares offered by the selling shareholders pursuant
to this prospectus.

 

Under
the terms of the Preferred Designation and Warrant, a selling
shareholder may not exercise the Preferred Stock and/or exercise
the Warrants to the extent such exercise would cause such selling
shareholder, together with its affiliates and attribution parties,
to beneficially own a number of shares of common stock which would
exceed 9.99% of our then outstanding common stock following such
conversion or exercise, excluding for purposes of such
determination shares of common stock issuable upon conversion of
the Preferred Stock which have not been converted and shares of
common stock issuable upon exercise of the Warrants which have not
been exercised. The number of shares in the second column does not
reflect this limitation. The selling shareholders may sell all,
some or none of their shares in this offering. See "Plan of
Distribution."

 

	

Name of Selling Shareholder

 

	

Number of shares of Common

Stock Owned Prior to Offering

 

	

Maximum Number of shares of

Common Stock to be Sold Pursuant.

to this Prospectus

 

	

Number of shares of Common

Stock Owned After Offering

 

 

 

 

-1-

 

Annex
C

 

CHARGE ENTERPRISES, INC.

 

Selling Stockholder Notice and Questionnaire

 

The
undersigned beneficial owner of common stock (the
“Registrable
Securities”) of Charge Enterprises, Inc., a Delaware
corporation (the “Company”), understands
that the Company has filed or intends to file with the Securities
and Exchange Commission (the “Commission”) a
registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities
Act of 1933, as amended (the “Securities Act”), of the
Registrable Securities, in accordance with the terms of the
Registration Rights Agreement (the “Registration Rights
Agreement”) to which this document is annexed. A copy
of the Registration Rights Agreement is available from the Company
upon request at the address set forth below. All capitalized terms
not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

 

Certain
legal consequences arise from being named as a selling stockholder
in the Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable
Securities are advised to consult their own securities law counsel
regarding the consequences of being named or not being named as a
selling stockholder in the Registration Statement and the related
prospectus.

 

NOTICE

 

The
undersigned beneficial owner (the “Selling Stockholder”) of
Registrable Securities hereby elects to include the Registrable
Securities owned by it in the Registration Statement.

 

 

 

-1-

 

The
undersigned hereby provides the following information to the
Company and represents and warrants that such information is
accurate:

 

QUESTIONNAIRE

 

1. Name.

 

(a) 

Full Legal Name of
Selling Stockholder

 

	
 

	
 

 

(b) 

Full Legal Name of
Registered Holder (if not the same as (a) above) through which
Registrable Securities are held:

 

	
 

	
 

 

(c) 

Full Legal Name of
Natural Control Person (which means a natural person who directly
or indirectly alone or with others has power to vote or dispose of
the securities covered by this Questionnaire):

 

	
 

	
 

 

 

2.
Address for Notices to Selling Stockholder:

 

	
 

	
 

	
 

	

Telephone: 

	

Fax: 

	

Contact
Person: 

 

3.
Broker-Dealer Status:

 

(a) 

Are you a
broker-dealer?

 

Yes
☐                      

No
☐

 

(b) 

If
“yes” to Section 3(a), did you receive your Registrable
Securities as compensation for investment banking services to the
Company?

 

Yes
☐                      

No
☐

 

Note: 

If “no”
to Section 3(b), the Commission’s staff has indicated that
you should be identified as an underwriter in the Registration
Statement.

 

(c) 

Are you an
affiliate of a broker-dealer?

 

Yes
☐                      

No
☐

 

(d) 

If you are an
affiliate of a broker-dealer, do you certify that you purchased the
Registrable Securities in the ordinary course of business, and at
the time of the purchase of the Registrable Securities to be
resold, you had no agreements or understandings, directly or
indirectly, with any person to distribute the Registrable
Securities?

 

Yes
☐                      

No
☐

 

Note: 

If “no”
to Section 3(d), the Commission’s staff has indicated that
you should be identified as an underwriter in the Registration
Statement.

 

4.
Beneficial Ownership of Securities of the Company Owned by the
Selling Stockholder.

 

Except as set forth below in this Item 4, the undersigned is not
the beneficial or registered owner of any securities of the Company
other than the securities issuable pursuant to the Purchase
Agreement.

 

(a) 

Type and Amount of
other securities beneficially owned by the Selling
Stockholder:

 

	
 

	
 

	
 

 

 

-2-

 

 

5.
Relationships with the Company:

 

Except as set forth below, neither the undersigned nor any of its
affiliates, officers, directors or principal equity holders (owners
of 5% of more of the equity securities of the undersigned) has held
any position or office or has had any other material relationship
with the Company (or its predecessors or affiliates) during the
past three years.

 

State any
exceptions here:

 

	
 

	
 

	
 

 

The
undersigned agrees to promptly notify the Company of any material
inaccuracies or changes in the information provided herein that may
occur subsequent to the date hereof at any time while the
Registration Statement remains effective; provided, that the
undersigned shall not be required to notify the Company of any
changes to the number of securities held or owned by the
undersigned or its affiliates.

 

The
undersigned represents and warrants to the Company that it is
familiar with and understands Regulation M under the Securities
Exchange Act of 1934 and agrees to abide by the provisions of
Regulation M during any time Regulation M applies to the
undersigned via the Registrable Securities. By signing below, the
undersigned consents to the disclosure of the information contained
herein in its answers to Items 1 through 5 and the inclusion of
such information in the Registration Statement and the related
prospectus and any amendments or
supplements thereto. The undersigned understands that such
information will be relied upon by the Company in connection with
the preparation or amendment of the Registration Statement and the
related prospectus and any amendments or supplements
thereto.

 

IN
WITNESS WHEREOF the undersigned, by authority duly given, has
caused this Selling Stockholder Notice and Questionnaire to be
executed and delivered either in person or by its duly authorized
agent.

 

Date:                                                                      

Beneficial
Owner:                

 

By:           

Name:

Title:

 

PLEASE FAX A COPY (OR EMAIL A .PDF COPY) OF THE COMPLETED AND
EXECUTED NOTICE AND QUESTIONNAIRE TO:

 

 

 

Schedule 6(i)

 

None.

 

 

 

 

-3-goig_ex105

 

Exhibit 10.5

 

GUARANTY AGREEMENT

 

THIS
GUARANTY AGREEMENT (this “Guaranty”) is entered into as of
December 17, 2021 by and among each of the parties identified as a
Guarantor on the signature pages hereto (each, a
“Guarantor”, and
collectively, the “Guarantors”), in favor of the
purchasers signatory to the Securities Purchase Agreements (as
defined below) (together with their respective successors and
assigns, including, any future holder of the Notes (as defined
below), the “Holders”). Capitalized terms used
herein and not otherwise defined shall have the meanings ascribed
thereto in the Securities Purchase Agreements (as defined
below).

 

RECITALS

 

WHEREAS, pursuant
to a Securities Purchase Agreement, dated as of May 8, 2020 (as
amended and in effect from time to time, including any replacement
agreement therefor, the “May
2020 Securities Purchase Agreement”), among Charge
Enterprises, Inc., a Delaware corporation (formerly known as
Transworld Holdings, Inc. and GoIP Global, Inc., a Colorado
corporation) (the “Company”) and the Holders, the
Holders have extended credit to the Company as evidenced by certain
Senior Secured Convertible Notes in the aggregate principal amount
of $3,000,000.00 issued by the Company to the Holders (together
with any notes issued in exchange therefor or replacement thereof
or any additional investment made by the Holders and as the same
may be amended, supplemented, restated or otherwise modified from
time to time, the “May 2020
Senior Notes”);

 

WHEREAS, pursuant
to a Securities Purchase Agreement, dated as of November 3, 2020
(as amended and in effect from time to time, including any
replacement agreement therefor, the “November 2020 Securities Purchase
Agreement”) among the Company and the Holders, the
Holders have extended credit to the Company as evidenced by certain
Senior Secured Convertible Notes in the aggregate principal amount
of $3,888,889.00 issued by the Company to the Holders (together
with any notes issued in exchange therefor or replacement thereof
or any additional investment made by the Holders and as the same
may be amended, supplemented, restated or otherwise modified from
time to time, the “November
2020 Senior Notes”);

 

WHEREAS, pursuant
to a Securities Purchase Agreement, dated as of May 19, 2021 (as
amended and in effect from time to time, including any replacement
agreement therefor, the “May
2021 Securities Purchase Agreement”), among the
Company and the Holders, the Holders have extended credit to the
Company as evidenced by certain Senior Secured Convertible Notes in
the aggregate principal amount of $5,610,000 and certain Senior
Secured Non-convertible Notes in the aggregate principal amount of
$11,032,609.00 issued by
the Company to the Holders (together with any notes issued in
exchange therefor or replacement thereof or any additional
investment made by the Holders and as the same may be amended,
supplemented, restated or otherwise modified from time to time, the
“May 2021 Senior
Notes”);

 

WHEREAS, pursuant
to a Securities Purchase Agreement, dated as of the date hereof (as
amended and in effect from time to time, including any replacement
agreement therefor, the “December 2021 Securities Purchase
Agreement” and together with the May 2020 Securities
Purchase Agreement, the November 2020 Securities Purchase Agreement
and May 2021 Securities Purchase Agreement, the “Securities Purchase Agreements”),
among the Company and the Holders, the Holders have extended credit
to the Company as evidenced by certain Senior Secured
Non-convertible Notes in the aggregate principal amount of
$14,814,814.67 issued by
the Company to the Holders (together with any notes issued in
exchange therefor or replacement thereof or any additional
investment made by the Holders and as the same may be amended,
supplemented, restated or otherwise modified from time to time, the
“December 2021 Senior
Notes” and together with the May 2020 Senior Notes,
the November 2020 Senior Notes and May 2021 Senior Notes, the
“Senior Notes”);
and

 

 

 

 

WHEREAS, each
Guarantor will derive substantial direct and indirect benefit from
the provision of the loans evidenced by the Notes.

 

WHEREAS, entry into
this Agreement is a condition precedent to the transactions set
forth in the December 2021 Securities Purchase
Agreement.

 

NOW,
THEREFORE, in consideration of these premises and other good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as
follows:

 

1.           The
Guaranty. Each Guarantor hereby guarantees, as a co-obligor
and not merely as surety, to the Holders, the prompt payment of all
Liabilities (including without limitation all costs and expenses,
principal, premium if any, and interest (including all interest
that accrues after the commencement of any proceeding under
Applicable Insolvency Laws of the Company or any Guarantor (the
Company and each Guarantor collectively referred to herein as the
“Note Parties”
and each individually, a “Note Party”) at the rate provided
in the respective Transaction Document (as such term is defined in
the December 2021 Securities Purchase Agreement), whether or not a
claim for post-petition interest is allowed in such proceeding
under Applicable Insolvency Laws) on the Notes, and all obligations
which, but for the automatic stay under 11 U.S.C. Section 362 (or
similar successor statute), would become due), whenever arising, in
full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration or otherwise in accordance with any
Transaction Document) strictly in accordance with the terms thereof
(hereinafter, collectively, the “Guaranteed Obligations”). Each
Guarantor hereby further agrees that if any of the Guaranteed
Obligations are not paid in full when due (whether at stated
maturity, as a mandatory prepayment, by acceleration or otherwise
in accordance with any Transaction Document), such Guarantor will
promptly pay the same, without any demand or notice whatsoever, and
that in the case of any extension of time of payment or renewal of
any of the Guaranteed Obligations, the same will be promptly paid
in full when due (whether at extended maturity, as a mandatory
prepayment, by acceleration or otherwise in accordance with any
Transaction Document) in accordance with the terms of such
extension or renewal. This Guaranty is a guaranty of performance
and payment and not of collection. This Guaranty is a continuing
guaranty and shall apply to all Guaranteed Obligations whenever
arising.

 

2.           Joint
and Several Liability.

 

(a)           Each
of the Guarantors is accepting joint and several liability
hereunder in consideration of the financial accommodations to be
provided by the Holders under the Transaction Documents, for the
mutual benefit, directly and indirectly, of each of the Note
Parties and other Guarantors (if any) and in consideration of the
undertakings of each of the Guarantors to accept joint and several
liability for the obligations of each of the Note
Parties.

 

(b)           Each
of the Guarantors jointly and severally hereby irrevocably and
unconditionally accepts, not merely as a surety but also as a
co-obligor, joint and several liability with the other Guarantors
with respect to the payment and performance of all of the
Guaranteed Obligations, it being the intention of the parties
hereto that all the Guaranteed Obligations shall be the joint and
several obligations of the Guarantors without preferences or
distinction among them.

 

(c)           If
and to the extent that any of the Note Parties or Guarantors shall
fail to make any payment with respect to any of the Guaranteed
Obligations as and when due or to perform any of the Guaranteed
Obligations in accordance with the terms thereof, then in each such
event, the other Guarantors will make such payment with respect to,
or perform, such Guaranteed Obligation.

 

 

2

 

 

3.           Obligations
Unconditional. The obligations of each of the Guarantors
under Section 1
hereof are irrevocable, absolute and unconditional, irrespective of
the value, genuineness, validity, regularity or enforceability of
any of the Transaction Documents, or any other agreement or
instrument referred to therein, or any substitution, release or
exchange of any other guaranty of or security for any of the
Guaranteed Obligations, and, to the fullest extent permitted by
applicable law, irrespective of any other circumstance whatsoever
which might otherwise constitute a legal or equitable discharge or
defense of a surety or guarantor other than payment in full of the
Guaranteed Obligations (other than contingent indemnification
obligations to the extent no claim giving rise thereto has been
asserted) and termination of the Purchase Agreements in accordance
with their terms, it being the intent of this Section 3 that the obligations
of each Guarantor hereunder shall be absolute and unconditional
under any and all circumstances. Each Guarantor agrees that it
shall have no right of subrogation, indemnity, reimbursement or
contribution against any Note Party for amounts paid under this
Guaranty and no obligation hereunder can impaired by any
counterclaim, set-off, recoupment, deduction or defense based on
any claim a Guarantor may have, until the Guaranteed Obligations
are paid in full (other than contingent indemnification obligations
to the extent no claim giving rise thereto has been asserted) and
the Purchase Agreements have terminated in accordance with its
terms. Without limiting the generality of the foregoing, it is
agreed that, to the fullest extent permitted by applicable law, the
occurrence of any one or more of the following shall not alter or
impair the liability of any Guarantor hereunder which shall remain
absolute and unconditional as described above:

 

(a)           at
any time or from time to time, without notice to any Guarantor, the
time for any performance of or compliance with any of the
Guaranteed Obligations shall be extended, or such performance or
compliance shall be waived;

 

(b)           any
of the acts mentioned in any of the provisions of any of the
Purchase Agreements, the Transaction Documents, or any other
agreement or instrument referred to in the Purchase Agreements or
the Transaction Documents shall be done or omitted;

 

(c)           the
maturity of any of the Guaranteed Obligations shall be accelerated,
or any of the Guaranteed Obligations shall be modified,
supplemented or amended in any respect, or any right under any of
the Purchase Agreements, the Transaction Documents, or any other
agreement or instrument referred to in the Purchase Agreements or
the Transaction Documents shall be waived or any other guarantee of
any of the Guaranteed Obligations or any security therefor shall be
released or exchanged in whole or in part or otherwise dealt with,
in each case, in accordance with the Transaction Documents;
or

 

(d)           any
of the Guaranteed Obligations shall be determined to be void or
voidable (including, without limitation, for the benefit of any
creditor of any Guarantor) or shall be subordinated to the claims
of any Person (including, without limitation, any creditor of any
Guarantor).

 

4.           Reinstatement.
The obligations of each Guarantor under this Guaranty shall be
automatically reinstated if and to the extent that for any reason
any payment by or on behalf of any Person in respect of the
Guaranteed Obligations is rescinded or must be otherwise restored
by any holder of any of the Guaranteed Obligations, whether as a
result of any proceedings in bankruptcy or reorganization or
otherwise, and each Guarantor agrees that it will indemnify each
Holder on demand for all reasonable out-of-pocket costs and
expenses (including, without limitation, reasonable fees and
out-of-pocket expenses of counsel) incurred by any Holder in
connection with such rescission or restoration, including any such
costs and expenses incurred in defending against any claim alleging
that such payment constituted a preference, fraudulent transfer or
similar payment under any bankruptcy, insolvency or similar
law.

 

5.           Certain
Additional Waivers. With respect to its obligations
hereunder, each Guarantor hereby expressly waives diligence,
presentment, demand of payment, protest and all notices whatsoever,
to the extent permitted by applicable law, and any requirement that
any Holder exhaust any right, power or remedy or proceed against
any Person under any of the Purchase Agreements, the Transaction
Documents or any other agreement or instrument referred to in the
Purchase Agreements or the Transaction Documents, or against any
other Person under any other guarantee of, or security for, any of
the Guaranteed Obligations.

 

 

3

 

 

6.           Remedies.
Each Guarantor agrees that, to the fullest extent permitted by
applicable law, as between such Guarantor and the Holders, the
Guaranteed Obligations may be declared to be forthwith due and
payable for purposes of Section 1 hereof
notwithstanding any stay, injunction or other prohibition
preventing such declaration (or preventing the Guaranteed
Obligations from becoming automatically due and payable) as against
any other Person and that, in the event of such declaration (or the
Guaranteed Obligations being deemed to have become automatically
due and payable), the Guaranteed Obligations (whether or not due
and payable by any other Person) shall forthwith become due and
payable by the Guarantors for purposes of said Section 1.

 

7.           Limitation
on Guaranteed Obligations. Notwithstanding any provision to
the contrary contained herein or in any other of the Transaction
Documents, the obligations of each Guarantor hereunder shall be
limited to an aggregate amount equal to the largest amount that
would not render its obligations hereunder subject to avoidance
under applicable law (whether federal or state and including,
without limitation, 11 U.S.C. Section 548 (or similar successor
statute)), after taking into account, among other things, such
Guarantor’s right of contribution and indemnification from
each other Guarantor under applicable law.

 

The
Guarantors hereby agree, as among themselves, that if any Guarantor
shall become an Excess Funding Company (as defined below), each
other Guarantor shall, on demand of such Excess Funding Company
(but subject to the next sentence hereof and to subsection (B)
below), pay to such Excess Funding Company an amount equal to such
Guarantor’s Pro Rata Share (as defined below and determined,
for this purpose, without reference to the properties, assets,
liabilities and debts of such Excess Funding Company) of such
Excess Funding Company’s Excess Payment (as defined below).
The payment obligation of any Guarantor to any Excess Funding
Company under this Section
7 shall be subordinate and subject in right of payment to
the prior payment in full of the Guaranteed Obligations of such
Guarantor under the other provisions of this Guaranty, and such
Excess Funding Company shall not exercise any right or remedy with
respect to such excess until payment and satisfaction in full of
all of such Guaranteed Obligations. For purposes hereof, (i)
“Excess Funding
Company” means, in respect of any Guaranteed
Obligations arising under the other provisions of this Guaranty
(hereafter, the “Joint
Obligations”), a Guarantor that has paid an amount in
excess of its Pro Rata Share of the Joint Obligations; (ii)
“Excess Payment”
means, in respect of any Joint Obligations, the amount paid by an
Excess Funding Company in excess of its Pro Rata Share of such
Joint Obligations; and (iii) “Pro Rata Share”, for the purposes
of this Section 7,
means, for any Guarantor, the ratio (expressed as a percentage) of
(A) the amount by which the aggregate present fair salable value of
all of its assets and properties exceeds the amount of all debts
and liabilities of such Guarantor (including contingent,
subordinated, unmatured, and unliquidated liabilities, but
excluding the obligations of such Guarantor hereunder) to (B) the
amount by which the aggregate present fair salable value of all
assets and other properties of such Guarantor and all of the other
Note Parties exceeds the amount of all of the debts and liabilities
(including contingent, subordinated, unmatured, and unliquidated
liabilities, but excluding the obligations of such Guarantor and
the other Note Parties hereunder) of such Guarantor and all of the
other Note Parties, all as of the Closing Date (if any Guarantor
becomes a party hereto subsequent to the Closing Date, then for the
purposes of this Section
7 such subsequent Guarantor shall be deemed to have been a
Guarantor as of the Closing Date and the information pertaining to,
and only pertaining to, such Guarantor as of the date such
Guarantor became a Guarantor shall be deemed true as of the Closing
Date).

 

 

4

 

 

8.           Representations.

 

(a)           Each
Guarantor hereby represents and warrants that it is duly organized,
validly existing and in good standing under the laws of the
jurisdiction of its formation or incorporation and in each other
jurisdiction in which the failure to be so qualified could
reasonably be expected to have a Material Adverse Effect (as such
term is defined in the December 2021 Securities Purchase
Agreement).

 

(b)           Each
Guarantor further represents and warrants that it has the power and
authority to enter into this Guaranty and to perform its
obligations and to consummate the transactions contemplated hereby
and has by proper action duly authorized the execution and delivery
of this Guaranty.

 

(c)           Each
Guarantor further represents and warrants that this Guaranty
constitutes the legal, valid and binding obligation of such
Guarantor enforceable in accordance with its terms, subject to
bankruptcy laws and other similar laws of general application
affecting rights of creditors and subject to the application of the
rules of equity, including those respecting the availability of
specific performance.

 

(d)           Each
Guarantor further represents and warrants that it has knowledge of
the other Note Parties’ financial condition and affairs and
represents and agrees that it will keep so informed while this
Guaranty is in force. Each Guarantor agrees that no Holder will
have any obligation to investigate the financial condition or
affairs of the other Note Parties for the benefit of such Guarantor
nor to advise such Guarantor of any fact respecting, or any change
in, the financial condition or affairs of the other Note Parties
which might come to the knowledge of the Holders at any time,
whether or not any Holder knows or believes or has reason to know
or believe that any such fact or change is unknown to such
Guarantor or might (or does) materially increase the risk of such
Guarantor as a guarantor or might (or would) affect the willingness
of such Guarantor to continue as a guarantor with respect to the
Guaranteed Obligations.

 

9.           Incorporated
Provisions. Each Guarantor acknowledges, agrees to, and
agrees to perform, as applicable, all of the representations,
warranties, covenants, waivers and other provisions pertaining to
it as a Guarantor or Subsidiary contained in any Transaction
Document.

 

10.           Amendment.
This Guaranty may be amended or modified only in a writing executed
by the parties hereto.

 

11.           Termination.
This Guaranty shall terminate automatically upon the indefeasible
payment in full in cash of the Guaranteed Obligations. Upon the
sale, transfer, conveyance or other disposition of all of the
equity interests of any Guarantor in a transaction permitted
pursuant to the Transaction Documents (other than to a Note Party)
and the application of the proceeds thereof as provided in the
Transaction Documents, such Guarantor shall cease to be a
“Guarantor” for purposes of the Transaction Documents
and shall be released from its obligations hereunder.

 

12.           Counterparts.
This Guaranty may be executed in any number of counterparts, each
of which where so executed and delivered shall be an original, but
all of which shall constitute one and the same instrument. It shall
not be necessary in making proof of this Guaranty to produce or
account for more than one such counterpart. Facsimile or electronic
transmissions of any executed original document and/or
retransmission of any executed facsimile or electronic transmission
shall be deemed to be the same as the delivery of an executed
original. At the request of any party hereto, the other parties
hereto shall confirm such transmissions by executing duplicate
original documents and delivering the same to the requesting party
or parties.

 

 

5

 

 

13.           Headings.
The headings of the sections and subsections hereof are provided
for convenience only and shall not in any way affect the meaning,
construction or interpretation of any provision of this
Guaranty.

 

14.           Governing
Law; Submission to Jurisdiction; Waiver of Jury Trial;
Notice THIS
GUARANTY AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, CONSTRUED IN ACCORDANCE WITH, AND ENFORCED
UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
PRINCIPLES OF CONFLICTS OF LAW OF SUCH STATE THAT WOULD REQUIRE THE
APPLICATION OF THE LAW OF ANOTHER JURISDICTION. THE PROVISIONS OF
THE PURCHASE AGREEMENTS RELATING TO SUBMISSION TO JURISDICTION,
WAIVER OF JURY TRIAL AND VENUE ARE HEREBY INCORPORATED BY REFERENCE
HEREIN, MUTATIS MUTANDIS.

 

15.           Entirety.
This Guaranty represents the entire agreement of the parties hereto
and thereto, and supersedes all prior agreements and
understandings, oral or written, if any, including any commitment
letters or correspondence relating to the transactions contemplated
herein.

 

16.           Holder
Assigns. This Guaranty is intended for and shall inure to
the benefit of each and every person who shall from time to time be
or become the owner or holder of (or participant in) any of the
Guaranteed Obligations, and each and every reference herein to a
“Holder” shall include and refer to each and every
successor or assignee of a Holder, as applicable, at any time
holding or owning any part of or interest (or participation) in any
part of the Guaranteed Obligations. Each Holder shall be entitled to rely upon
and be the third party beneficiary of the provisions of this
Guaranty and shall be entitled to enforce the terms and provisions
hereof to the same extent as if such Holder were directly party
hereto. This Guaranty shall be transferable and negotiable by such
Persons only with the same force and effect, and to the same
extent, that the Guaranteed Obligations are transferable and
negotiable, it being understood and stipulated that upon assignment
or transfer by any Holder of any of the Guaranteed Obligations the
legal holder or owner of said Guaranteed Obligations (or a part
thereof or interest therein thus transferred or assigned by a
Holder) shall (except as otherwise stipulated by a Holder in its
assignment) have and may exercise all of the rights granted to the
Holders under this Guaranty to the extent of that part of or
interest in the Guaranteed Obligations thus assigned or transferred
to said person. Each Guarantor expressly waives notice of transfer
or assignment of the Guaranteed Obligations, or any part thereof,
or of the rights of the Holders hereunder. Failure to give notice
will not affect the liabilities of any Guarantor
hereunder.

 

 

[Signature
Page Follows]

 

6

 

Each of
the parties hereto has caused a counterpart of this Guaranty to be
duly executed and delivered as of the date first above
written.

 

 

	

GUARANTORS:

	

TRANSWORLD
ENTERPRISES INC.

	
 

	
 

	
 

	
 

	
 

	

By: /s/ Philip
Scala 

	
 

	

Name:  Philip
Scala 

	
 

	

Title:   
Interim CEO, Secretary & Treasurer

	
 

	
 

	
 

	
 

	
 

	

CHARGE
INFRASTRUCTURE, INC.

	
 

	
 

	
 

	
 

	
 

	

By: /s/
Andrew
Fox                                                                

	
 

	

Name:  Andrew
Fox 

	
 

	

Title:   
CEO                                            

	
 

	
 

	
 

	

GETCHARGED, INC.

	
 

	
 

	
 

	
 

	
 

	

By: /s/
Andrew
Fox                                                                

	
 

	

Name:  Andrew
Fox 

	
 

	

Title:   
CEO                                            

	
 

	
 

	
 

	
 

	
 

	

CHARGE SERVICES, LLC

	
 

	
 

	
 

	
 

	
 

	

By: /s/
Andrew
Fox                                                                

	
 

	

Name:  Andrew
Fox 

	
 

	

Title:   
Manager                                            

	
 

	
 

	
 

	
 

	
 

	

CHARGE
COMMUNICATIONS INC.

	
 

	
 

	
 

	
 

	
 

	

By: /s/
Craig
Denson 

	
 

	

Name:  Craig
Denson 

	
 

	

Title:   
CEO                                            

	
 

	
 

	
 

	

PTGI INTERNATIONAL CARRIER SERVICES, INC.

	
 

	
 

	
 

	
 

	
 

	

By: /s/
Andrew
Fox                                                                

	
 

	

Name:  
Andrew Fox 

	
 

	

Title:    
CEO                                            

 

[Signature Page to Guaranty Agreement (Transworld)]

 

 

Accepted
and agreed to as of the date first above written.

 

HOLDERS:

	

MT. WHITNEY SECURITIES, LLC

 

	
 

	
 

	

By:

	

/s/ Lawrence
Cutler 

	
 

	

Name:

	

 Lawrence Cutler

	
 

	

Title:

	

 Authorized Signatory

	
 

	
 

 

	

ARENA ORIGINATING CO., LLC

 

	
 

	
 

	

By:

	

/s/ Lawrence
Cutler  

	
 

	

Name:

	

 Lawrence Cutler

	
 

	

Title:

	

 Authorized Signatory

	
 

	
 

 

	

ARENA SPECIAL OPPORTUNITIES FUND, LP

 

	
 

	
 

	

By:

	

/s/ Lawrence
Cutler  

	
 

	

Name:

	

 Lawrence Cutler

	
 

	

Title:

	

 Authorized Signatory

	
 

	
 

 

	

ARENA SPECIAL OPPORTUNITIES PARTNERS I, LP

 

	
 

	
 

	

By:

	

/s/ Lawrence
Cutler  

	
 

	

Name:

	

 Lawrence Cutler

	
 

	

Title:

	

 Authorized Signatory

	
 

 

 

	

ARENA STRUCTURED PRIVATE INVESTMENTS (CAYMAN), LLC

 

	
 

	
 

	

By:

	

/s/ Lawrence
Cutler  

	
 

	

Name:

	

 Lawrence Cutler

	
 

	

Title:

	

 Authorized Signatory

	
 

 

[Signature Page to Guaranty Agreement (Transworld)]

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