Document:

Exhibit 10.5

 

PRIVATE
PLACEMENT UNIT SUBSCRIPTION AGREEMENT

 

This PRIVATE PLACEMENT UNIT
SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of the [__] day of [__] 2021, by and between Abri SPAC I, Inc., a Delaware
corporation (the “Company”), and Abri Ventures I , LLC, a Delaware limited liability company (the “Subscriber”).

 

WHEREAS, the Company desires
to sell to the Subscriber on a private placement basis (the “Offering”) an aggregate of 276,250 units (or up to 295,000 units
if the over-allotment option in connection with the IPO (as defined below) is exercised in full) (the “Units”) of the Company,
each Unit comprised of one share of common stock of the Company, par value $0.0001 per share (“Common Stock”) and one warrant,
each warrant exercisable to purchase one share of Common Stock (“Warrant”), for a purchase price of $10.00 per Unit. The shares
of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant Shares”. The shares of Common Stock underlying
the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement Shares.” The Warrants underlying the
Units are hereinafter referred to as the “Placement Warrants.” The Units, Placement Shares, Placement Warrants and
Warrant Shares, collectively, are hereinafter referred to as the “Securities.” Each Placement Warrant is exercisable to purchase
one share of Common Stock at an exercise price of $11.50 during the period commencing on the later of (i) twelve (12) months from the
date of the closing of the Company’s initial public offering of units (the “IPO”) and (ii) the consummation of the Company’s
initial business combination (the “Business Combination”), as such term is defined in the registration statement in connection
with the IPO, as amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth anniversary
of the consummation of the Business Combination; and

 

WHEREAS, the Subscriber wishes
to purchase 276,250 Units (or up to 295,000 Units if the over-allotment option in connection with the IPO is exercised in full), and the
Company wishes to accept such subscription from Subscriber.

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

 

1. Agreement to Subscribe

 

1.1. Purchase
and Issuance of the Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase
from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) 276,250 Units
in consideration of the payment of the Purchase Price (as defined below). On the Initial Closing Date, the Company shall, at its option,
deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry form.

 

1.2. Purchase
Price. The Subscriber shall pay $2,762,500 (the “Purchase Price”) by wire transfer of immediately available funds or by
such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”)
at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee,
at least one (1) business day prior to the date of effectiveness of the Registration Statement.

 

1.3. Initial
Closing. The closing of the purchase and sale of 276,500 Units shall take place simultaneously with the closing of the IPO (the “Initial
Closing Date”). The closing of such Units shall take place at the offices of Loeb & Loeb LLP, 345 Park Avenue, New York, New
York 10154, or such other place as may be agreed upon by the parties hereto.

 

1.4. Purchase
and Issuance of Additional Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to
purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Over-allotment Closing Date (as defined below)
up to an aggregate of 18,750 Units in consideration of the payments of the Over-allotment Purchase Price (as defined below) and in the
same proportion as the amount of the over-allotment option in connection with the IPO is exercised. On the Over-allotment Closing Date,
the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery
in book-entry form.

 

     

     

    

 

1.5. Purchase
Price. The Subscriber shall pay up to $187,500 (if the over-allotment option in connection with the IPO is exercised in full) (the
“Over-allotment Purchase Price”) by wire transfer of immediately available funds or by such other method as may be reasonably
acceptable to the Company, to the Trust Account on the date of the consummation of the closing of the over-allotment option, and concurrently
with the consummation thereof, or on such earlier time and date as may be mutually agreed by the Company and the Subscriber (each such
date, an “Over-allotment Closing Date”; together with the Initial Closing Date, the “Closing Dates” and each,
a “Closing Date”).

 

1.6. Over-Allotment
Closing. The Over-allotment Closing Date shall take place at the offices of Loeb & Loeb LLP, 345 Park Avenue, New York, New York
10154, or such other place as may be agreed upon by the parties hereto.

 

1.7. Termination.
This Agreement and each of the obligations of the undersigned shall be null and void and without effect if a Closing does not occur prior
to December 31, 2021.

 

2. Representations and Warranties of Subscriber

 

Subscriber represents and warrants to the Company
that:

 

2.1. No Government
Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement
of the Company or the Offering of the Securities.

 

2.2. Accredited
Investor. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated hereby
is being made in reliance, among other things, on a private placement exemption to “accredited investors” under the Securities
Act and similar exemptions under state law.

  

2.3. Intent.
Subscriber is purchasing the Securities solely for investment purposes, for Subscriber’s own account (and/or for the account or
benefit of its members or affiliates, as permitted, pursuant to the terms of an agreement (the “Insider Letter”) to be entered
into with respect to the Securities between, among others, Subscriber and the Company, as described in the Registration Statement), and
not with a view to the distribution thereof and Subscriber has no present arrangement to sell the Securities to or through any person
or entity except as may be permitted under the Insider Letter. Subscriber shall not engage in hedging transactions with regard to the
Securities unless in compliance with the Securities Act.

 

2.4. Restrictions
on Transfer. Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public offering
in the United States within the meaning of the Securities Act. The Securities have not been registered under the Securities Act and, if
in the future Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered, resold,
pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities Act, (B) pursuant
to an exemption from registration under Rule 144 promulgated under the Securities Act, if available, or (C) pursuant to any other
available exemption from the registration requirements of the Securities Act, and in each case in accordance with any applicable securities
laws of any state or any other jurisdiction. Notwithstanding the foregoing, Subscriber acknowledges and understands the Securities are
subject to transfer restrictions as described in Section 8 hereof. Subscriber agrees that if any transfer of its Securities
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to
the Company an opinion of counsel satisfactory to the Company with respect to such transfer. Absent registration or another available
exemption from registration, Subscriber agrees it will not resell the Securities (unless otherwise permitted pursuant to the Insider Letter,
as described in the Registration Statement). Subscriber further acknowledges that because the Company is a shell company, Rule 144 may
not be available to Subscriber for the resale of the Securities until the one year anniversary following consummation of the initial Business
Combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual
transfer restrictions.

 

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2.5. Sophisticated
Investor.

 

(i) Subscriber
is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii) Subscriber
is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things, the
Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot be sold unless
subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is able to bear the economic
risk of its investment in the Securities for an indefinite period of time.

 

2.6. Independent
Investigation. Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company
and has not relied upon any information or representations made by any third parties or upon any oral or written representations or assurances
from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set forth
in this Agreement. Subscriber is familiar with the business, operations and financial condition of the Company and has had an opportunity
to ask questions of, and receive answers from the Company’s officers and directors concerning the Company and the terms and conditions
of the offering of the Units and has had full access to such other information concerning the Company as Subscriber has requested. Subscriber
confirms that all documents that it has requested have been made available and that Subscriber has been supplied with all of the additional
information concerning this investment which Subscriber has requested.

 

2.7. Organization
and Authority. Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware and it
possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8. Authority.
This Agreement has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable in accordance
with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors’
rights generally.

 

2.9. No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions contemplated hereby do
not violate, conflict with or constitute a default under (i) Subscriber’s charter documents, (ii) any agreement or instrument
to which Subscriber is a party or (iii) any law, statute, rule or regulation to which Subscriber is subject, or any agreement, order,
judgment or decree to which Subscriber is subject.

 

2.10. No Legal
Advice from Company. Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated
by this Agreement and the other agreements entered into between the parties hereto with Subscriber’s own legal counsel and investment
and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other agreements entered
into between the parties hereto, Subscriber is relying solely on such counsel and advisors and not on any statements or representations
of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions
contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.11. Reliance
on Representations and Warranties. Subscriber understands the Units are being offered and sold to Subscriber in reliance on exemptions
from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and
that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings
of Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

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2.12. No General
Solicitation. Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general advertising,
including but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar
media or broadcast over television or radio, or presented at any seminar or meeting or in a registration statement with respect to the
IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13. Legend.
Subscriber acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the “Legend”),
in form and substance substantially as set forth in Section 4 hereof.

 

3. Representations, Warranties
and Covenants of the Company

 

The Company represents and
warrants to, and agrees with, Subscriber that:

 

3.1. Valid Issuance
of Capital Stock. The total number of shares of all capital stock which the Company has authority to issue is 100,000,000 shares of
Common Stock and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred Stock”). As of the date hereof,
the Company has issued and outstanding 1,437,500 shares of Common Stock
(of which up to 187,500 shares are subject to forfeiture as described in the Registration Statement) and no shares of Preferred Stock.
All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.

 

3.2. Title to
Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant agreement to be entered
into between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), as
the case may be, each of the Units, Placement Shares, Placement Warrants and Warrant Shares will be duly and validly issued, fully paid
and non-assessable. On the date of issuance of the Units, the Warrant Shares shall have been reserved for issuance. Upon issuance in accordance
with, and payment pursuant to, the terms hereof and the Warrant Agreement, as the case may be, Subscriber will have or receive good title
to the Units, Placement Shares and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i)
transfer restrictions hereunder and pursuant to the Insider Letter and (ii) transfer restrictions under federal and state securities
laws.

 

3.3. Organization
and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State
of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

 

3.4. Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this
Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement
by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate
action, and no further consent or authorization of the Company or its Board of Directors or stockholders is required, and (iii) this Agreement
constitutes the valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws
relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by equitable principles of general application
and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities laws or principles of
public policy.

 

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3.5. No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby
do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict with, or constitute
a default under any agreement or instrument to which the Company is a party or (iii) conflict with any law statute, rule or regulation
to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other than any SEC or state
securities filings which may be required to be made by the Company subsequent to any Closing Date, and any registration statement which
may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency or self-regulatory entity in order
for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares, Placement Warrants or Warrant Shares
in accordance with the terms hereof.

 

4. Legends

 

4.1. Legend.
The Company will issue the Units, Placement Shares and Placement Warrants, and when issued, the Warrant Shares, purchased by the Subscriber
in the name of the Subscriber. The Securities will bear the following Legend and appropriate “stop transfer” instructions:

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, ABRI SPAC 1, INC. AND ABRI
VENTURES I, LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE
TERMS SET FORTH IN THE INSIDER LETTER.”

 

4.2. Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way Subscriber’s obligations and agreements to comply
with all applicable securities laws upon resale of the Securities.

 

4.3. Company’s
Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer of the Securities, if in the sole
judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed under the
Securities Act, or pursuant to an available exemption from the registration requirements of the Securities Act and (ii) in compliance
herewith and with the Insider Letter.

 

4.4. Registration
Rights. The Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, on or prior to the effective date of
the Registration Statement.

 

5. Waiver of Liquidation
Distributions.

 

In connection with the Securities
purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions
of the amounts in the Trust Account with respect to the Securities, whether (i) in connection with the exercise of redemption rights if
the Company consummates the Business Combination, (ii) in connection with any tender offer conducted by the Company prior to a Business
Combination, (iii) upon the Company’s redemption of shares of Common Stock sold in the Company’s IPO upon the Company’s
failure to timely complete the Business Combination or (iv) in connection with a stockholder vote to approve an amendment to the Company’s
amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100%
of the Company’s public shares if the Company does not timely complete the Business Combination or (B) with respect to any other
provision relating to stockholders’ rights or pre-Business Combination activity. In the event a Subscriber purchases shares of Common
Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive the redemption value of such shares
of Common Stock upon the same terms offered to all other purchasers of Common Stock in the IPO in the event the Company fails to consummate
the Business Combination; provided, for the avoidance of doubt, this sentence shall not apply to any founder shares (as described in the
Registration Statement) acquired by the Subscriber.

  

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6. Terms of Placement Warrants. Each Placement
Warrant shall have the terms set forth in the Warrant Agreement.

 

7. Intentionally omitted

 

8. Terms of the Units and
Placement Warrants

 

8.1. The Units and
their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts
will be subject to transfer restrictions described in the Insider Letter, (ii) the Placement Warrants will be non-redeemable, and may
be exercisable on a “cashless” basis at the election of the holder and (iii) the Units and component parts are being purchased
pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only after the expiration
of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights Agreement to be signed on or before
the date of the Prospectus or an exemption from registration is available.

 

8.2. Subscriber
agrees to vote the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration
Statement.

 

9. Governing Law; Jurisdiction; Waiver of Jury
Trial

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such state.
The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions
contemplated hereby.

 

10. Assignment; Entire Agreement; Amendment

 

10.1. Assignment.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by a Subscriber to a person
agreeing to be bound by the terms hereof.

 

10.2. Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and
merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3. Amendment.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument signed by all of the parties hereto.

 

10.4. Binding
upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns.

  

11. Notices

 

11.1. Notices.
Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and
personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or sent by
courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier) or mailed to said
party by certified mail, return receipt requested, at its address provided for herein or such other address as either may designate for
itself in such notice to the other. Communications shall be deemed to have been received when delivered personally, on the scheduled arrival
date when sent by next day or 2nd-day courier service, or if sent by facsimile upon receipt of confirmation of transmittal or, if sent
by mail, then three days after deposit in the mail. If given by electronic transmission, such notice shall be deemed to be delivered (a)
if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive notice; (b) if by
a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (1) such
posting and (2) the giving of such separate notice; and (c) if by any other form of electronic transmission, when directed to the stockholder.

 

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12. Counterparts

 

This Agreement may be executed
in one 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.

 

13. Survival; Severability

 

13.1. Survival.
The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing Dates.

 

13.2. Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective
if it materially changes the economic benefit of this Agreement to any party.

 

14. Headings.

 

The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[remainder of page intentionally left blank]

  

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	ABRI SPAC I, INC.

a Delaware corporation
	 	 
	 	By:	 
	 	Name:  	Jeffrey Tirman
	 	 	Chief Executive Officer and Chairman of the Board
	 	 
	 	PURCHASER:
	 	 
	 	ABRI VENTURES I, LLC

a Delaware limited liability company
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page of the Unit Subscription Agreement]

 

 

7Exhibit
10.6

 

Abri
SPAC I, Inc.

Indemnity
Agreement

 

This
Indemnity Agreement (the “Agreement”)
is made and entered into as of ______________, between Abri SPAC I, Inc., a Delaware corporation (the “Company”),
and ___________ (“Indemnitee”).

 

RECITALS

 

A.
Highly competent persons have become more reluctant to serve corporations as directors or officers or in other capacities unless
they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions
against them arising out of their service to and activities on behalf of the corporation;

 

B.
Although furnishing of insurance to protect persons serving a corporation and its subsidiaries from certain liabilities has been
a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that,
given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more
exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly
subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought
only against the Company or business enterprise itself. The Bylaws and the Amended and Restated Certificate of Incorporation of the Company
require indemnification of the executive officers and directors of the Company and permit indemnification of other officers and certain
other persons. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”).
The Bylaws, the Amended and Restated Certificate of Incorporation, and the DGCL expressly provide that their respective indemnification
provisions are not exclusive, and contemplate that contracts may be entered into between the Company and members of the Board, officers,
and other persons with respect to indemnification;

 

C.
The uncertainties relating to such liability insurance and to indemnification have increased the difficulty of attracting and retaining
such persons;

 

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

 

E.
It is reasonable, prudent, and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free
from undue concern that they will not be so indemnified;

 

F.
This Agreement is a supplement to and in furtherance of the Company’s Bylaws and the Amended and Restated Certificate of Incorporation
and any resolutions adopted pursuant to such indemnification, and will not be deemed a substitute therefor, nor to diminish or abrogate
any rights of Indemnitee;

 

G.
Indemnitee does not regard the protection available under the Company’s Bylaws and the Amended and Restated Certificate of
Incorporation and insurance as adequate in the present circumstances, and may not be willing to serve as an officer or director without
adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve,
and to take on additional service for or on behalf of the Company on the condition that he or she be so indemnified; and

  

H.
Indemnitee may have certain rights to indemnification and insurance provided by other entities or organizations which Indemnitee
and such other entities and organizations intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as
provided in this Agreement, with the Company’s acknowledgement and agreement to the foregoing being a material condition to Indemnitee’s
willingness to serve on the Board.

 

     

     

    

 

I.
This Agreement supersedes and replaces in its entirety any previous indemnification agreement entered into between the Company and
the Indemnitee.

 

Now,
Therefore, in consideration of Indemnitee’s
agreement to serve as an officer or a director from and after the date first written above, the parties agree as follows:

 

1.
Indemnity of Indemnitee. The Company agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as
such may be amended from time to time, in accordance with the terms of this Agreement. In furtherance of this indemnification, and without
limiting the generality of such indemnification:

 

(a)
Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee will be entitled to the rights of indemnification
provided in this Section 1(a) if, by reason of his or her Corporate Status, the Indemnitee is, or is threatened to be made, a party
to or participant in any Proceeding other than a Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee
will be indemnified against all Expenses, judgments, penalties, fines, and amounts paid in settlement actually and reasonably incurred
by him or her, or on his or her behalf, in connection with such Proceeding or any claim, issue, or matter therein. This indemnification
is provided if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe the Indemnitee’s conduct
was unlawful.

 

(b)
Proceedings by or in the Right of the Company. Indemnitee will be entitled to the rights of indemnification provided in this Section
1(b) if, by reason of his or her Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee will be indemnified against all Expenses actually
and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee
acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company.
Indemnification will not be provided against such Expenses if made in respect of any claim, issue, or matter in such Proceeding as to
which Indemnitee will have been adjudged to be liable to the Company unless and to the extent that the Court of Chancery of the State
of Delaware will determine that such indemnification may be made.

 

(c)
Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement,
to the extent that Indemnitee is, by reason of his or her Corporate Status, a party to and is successful, on the merits or otherwise,
in any Proceeding, he or she will be indemnified to the maximum extent permitted by law against all Expenses actually and reasonably
incurred by him or her or on his or her behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but
is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company
will indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection with
each successfully resolved claim, issue, or matter. For purposes of this Section, the termination of any claim, issue or matter in such
a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such claim, issue, or matter.

  

2.
Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1, the
Company agrees to indemnify and hold Indemnitee harmless against all Expenses, judgments, penalties, fines, and amounts paid in settlement
actually and reasonably incurred by him or her or on his or her behalf if, by reason of his or her Corporate Status, he or she is, or
is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including,
without limitation, any and all liability arising out of the negligence or active or passive wrongdoing of Indemnitee. The only limitation
that will exist on the Company’s obligations pursuant to this Agreement will be that the Company will not be obligated to make
any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, in Sections 6 and 7) to
be unlawful.

 

3.
Contribution.

 

(a)
Whether or not the indemnification provided in Sections 1 and 2 is available, in respect of any Proceeding in which the Company is
jointly liable with Indemnitee (or would be if joined in such action, suit, or proceeding), the Company will pay, in the first instance,
the entire amount of any judgment or settlement of such action, suit, or proceeding without requiring Indemnitee to contribute to such
payment, and the Company waives and relinquishes any right of contribution it may have against Indemnitee. The Company will not enter
into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding)
unless such settlement provides for a full and final release of all claims asserted against Indemnitee. The Company will not settle any
Proceeding or claim in a manner that would impose any penalty or admission of guilt or liability on Indemnitee without Indemnitee’s
written consent.

 

    2

     

    

 

(b)
Without diminishing or impairing the obligations of the Company in the preceding subparagraph, if Indemnitee elects or is required
to pay all or any portion of any judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee (or
would be if joined in such Proceeding), the Company will contribute to the amount of Expenses, judgments, fines, and amounts paid in
settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the
Company and all officers, directors, or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would
be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such Proceeding
arose. To the extent necessary to conform to law, the proportion determined on the basis of relative benefit may be further adjusted
by reference to the relative fault of the Company and all officers, directors, or employees of the Company other than Indemnitee who
are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, in
connection with the events that resulted in such expenses, judgments, fines, or settlement amounts, as well as any other equitable considerations
which the applicable law may require to be considered. The relative fault of the Company and all officers, directors, or employees of
the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand,
and Indemnitee, on the other hand, will be determined by reference to, among other things, the degree to which their actions were motivated
by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which
their respective conduct is active or passive.

 

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

 

(d)
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether
for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement or for Expenses, in connection with any claim
relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances
of such Proceeding to reflect: (i) the relative benefits received by the Company and Indemnitee as a result of the events and transactions
giving cause to such Proceeding; and (ii) the relative fault of the Company (and its directors, officers, employees, and agents) and
Indemnitee in connection with such events and transactions.

 

4.
Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is,
by reason of his or her Corporate Status, a witness, or is made (or asked) to respond to discovery requests, in any Proceeding to which
Indemnitee is not a party, he or she will be indemnified against all Expenses actually and reasonably incurred by him or her or on his
or her behalf in connection therewith.

 

5.
Advancement of Expenses. Notwithstanding any other provision of this Agreement (other than the final sentence of this Section 5 and
Section 9 hereof), the Company will advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by
reason of Indemnitee’s Corporate Status within 30 days after the receipt by the Company of a statement from Indemnitee requesting
such advance or advances, whether prior to or after final disposition of such Proceeding. Such statement will reasonably evidence the
Expenses incurred by Indemnitee and will include or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee
to repay any Expenses advanced if it is ultimately determined that Indemnitee is not entitled to be indemnified against such Expenses.
Any advances and undertakings to repay pursuant to this Section 5 will be unsecured and interest free. This Section 5 shall not apply
to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9.

 

    3

     

    

 

6.
Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for
Indemnitee rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions will apply in the event of any question as to whether Indemnitee is
entitled to indemnification under this Agreement:

 

(a)
To obtain indemnification under this Agreement, Indemnitee will submit to the Company a written request with such documentation and
information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification. The Secretary of the Company will, promptly on receipt of such a request for indemnification, advise the
Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such
request to the Company, or to provide such a request in a timely fashion, will not relieve the Company of any liability that it may have
to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests of the Company.

 

(b)
On written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a), Indemnitee’s entitlement
to indemnification will be determined in the specific case:

 

(1)
by one of the following four methods, which will be at the election of the Board, unless a Change in Control has occurred:

 

(i)
by a majority vote of the Disinterested Directors, even though less than a quorum;

 

(ii)
by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum;

 

(iii)
if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the
Board, a copy of which will be delivered to the Indemnitee; or

 

(iv)
if so directed by the Board, by the stockholders of the Company; or

 

(2)
if a Change in Control has occurred, by Independent Counsel in a written opinion to the Board, a copy of which will be delivered to the
Indemnitee.

 

(c)
If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b), the Independent
Counsel will be selected as provided in this Section 6(c). The Independent Counsel will be selected by the Board and the Board will notify
the Indemnitee by written notice. Within 10 days after such notice has been given, Indemnitee may deliver the Company a written objection
to such selection. But, that objection may only be asserted on the ground that the Independent Counsel does not meet the requirements
of “Independent Counsel” as defined in Section 13, and the objection will include with particularity the factual basis
of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If a written objection
is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn
or a court has determined that such objection is without merit. If no Independent Counsel has been selected and not objected to within
20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a), either the Company or Indemnitee
may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection
made by the Indemnitee to the Company’s selection of Independent Counsel or for the appointment of a person selected by the court
or by such other person as the court designates to serve as Independent Counsel. The person with respect to whom all objections are so
resolved or the person so appointed will act as Independent Counsel under Section 6(b). The Company will pay any and all reasonable fees
and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b), and the
Company will pay all reasonable fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which
such Independent Counsel was selected or appointed. In no event will Indemnitee be liable for fees and expenses incurred by such Independent
Counsel.

 

(d)
In making a determination with respect to entitlement to indemnification under this Agreement, the person or persons or entity making
such determination will presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this
presumption will have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company
(including by its Board or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this
Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual
determination by the Company (including by its Board or Independent Counsel) that Indemnitee has not met such applicable standard of
conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

    4

     

    

 

(e)
Indemnitee will be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of
the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course
of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise
by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In
addition, the knowledge and actions, or failure to act, of any director, officer, agent or employee of the Enterprise will not be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions
of this Section 6(e) are satisfied, it will in any event be presumed that Indemnitee has at all times acted in good faith and in a manner
he or she reasonably believed to be in, or not opposed to, the best interests of the Company. Anyone seeking to overcome this presumption
will have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

(f)
If the person, persons, or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
has not have made a determination within 60 days after receipt by the Company of the request, the requisite determination of entitlement
to indemnification will be deemed to have been made, and Indemnitee will be entitled to such indemnification absent (i) a misstatement
by Indemnitee of a material fact or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading
in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. Such 60-day period
may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons, or entity making such determination
with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation or information
relating thereto. The provisions of this Section 6(f) will not apply if the determination of entitlement to indemnification is to be
made by the stockholders pursuant to Section 6(b) and if (A) within 15 days after receipt by the Company of the request for such determination,
the Board or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration
at an annual meeting to be held within 75 days after such receipt, and such determination is made at that annual meeting, or (B) a special
meeting of stockholders is called within 15 days after such receipt for the purpose of making such determination, such meeting is held
for such purpose within 60 days after having been so called and such determination is made at that special meeting.

 

(g)
Indemnitee will cooperate with the person, persons. or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing such person, persons, or entity on reasonable advance request any documentation or information
which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary
to such determination. Any Independent Counsel, member of the Board, or stockholder of the Company will act reasonably and in good faith
in making a determination regarding the Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses
(including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons, or entity making
such determination will be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification),
and the Company indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(h)
The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption, and uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved
in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such Proceeding with or
without payment of money or other consideration) it will be presumed that Indemnitee has been successful on the merits or otherwise in
such Proceeding. Anyone seeking to overcome this presumption will have the burden of proof and the burden of persuasion by clear and
convincing evidence.

 

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

 

    5

     

    

 

7.
Remedies of Indemnitee.

 

(a)
In the event that (i) a determination is made pursuant to Section 6 that Indemnitee is not entitled to indemnification under this
Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5, (iii) subject to the limitations set forth herein,
no determination of entitlement to indemnification is made pursuant to Section 6(b) within 90 days after receipt by the Company of the
request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 1(c), 4 or the last sentence of Section
6(g) of this Agreement within 10 days after receipt by the Company of a written request for such payment, or (v) payment of indemnification
is not made pursuant to Sections 1(a), 1(b) and 2 of this Agreement within 10 days after a determination has been made that Indemnitee
is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6, Indemnitee will be entitled to
an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s
entitlement to such indemnification. Indemnitee will commence such proceeding seeking an adjudication within one year following the date
on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company will not oppose Indemnitee’s
right to seek any such adjudication.

 

(b)
In the event that a determination has been made pursuant to Section 6(b) that Indemnitee is not entitled to indemnification, any
judicial proceeding commenced pursuant to this Section 7 will be conducted in all respects as a de novo trial on the merits, and Indemnitee
will not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c)
If a determination has been made pursuant to Section 6(b) that Indemnitee is entitled to indemnification, the Company will be bound
by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material
fact or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection with
the application for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d)
In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his or her rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained
by the Company, the Company will pay on his or her behalf, in advance, any and all expenses (of the types described in the definition
of Expenses) actually and reasonably incurred by him or her in such judicial adjudication, regardless of whether Indemnitee ultimately
is determined to be entitled to such indemnification, advancement of expenses, or insurance recovery.

 

(e)
The Company will be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding, and enforceable, and will stipulate in any such court that the Company is
bound by all the provisions of this Agreement. The Company will indemnify Indemnitee against any and all Expenses and, if requested by
Indemnitee, will (within 10 days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by
law, such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification
or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies
maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement
of Expenses, or insurance recovery, as the case may be.

 

(f)
Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
will be required to be made prior to the final disposition of the Proceeding.

 

    6

     

    

  

8.
Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.

 

(a)
The rights of indemnification as provided by this Agreement will not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the Amended and Restated Certificate of Incorporation, the Bylaws, any agreement, a
vote of stockholders, a resolution of Board, or otherwise. No amendment, alteration, or repeal of this Agreement or of any provision
of this Agreement will limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such
Indemnitee in his or her Corporate Status prior to such amendment, alteration, or repeal. To the extent that a change in the DGCL, whether
by statute or judicial decision, permits greater indemnification than would be afforded currently under the Amended and Restated Certificate
of Incorporation, Bylaws, and this Agreement, it is the intent of the parties of this Agreement that Indemnitee will enjoy all greater
benefits so afforded by such change. No right or remedy in this Agreement conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy will be cumulative and in addition to every other right and remedy given under this Agreement
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy under this Agreement,
or otherwise, will not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents, or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan, or other
enterprise that serves at the request of the Company, the Company will cause Indemnitee to be covered in accordance with its or their
terms to the maximum extent of the coverage available for any director, officer, employee, agent, or fiduciary under such policy or policies.
If, at the time of the receipt of a notice of a claim pursuant to the terms of this Agreement, the Company has director and officer liability
insurance in effect, the Company will give prompt notice of the commencement of such Proceeding to the insurers in accordance with the
procedures in the respective policies. The Company will thereafter take all necessary or desirable action to cause such insurers to pay,
on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

(c)
The Company acknowledges that Indemnitee has or may have in the future certain rights to indemnification, advancement of expenses,
or insurance provided by other entities or organizations (collectively, the “Secondary Indemnitors”). The Company
agrees that (i) it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Secondary
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary),
(ii) it will be required to advance the full amount of expenses incurred by Indemnitee and will be liable for the full amount of all
Expenses, judgments, penalties, fines, and amounts paid in settlement to the extent legally permitted and as required by the terms of
this Agreement, the Company’s Amended and Restated Certificate of Incorporation or Bylaws (or any other agreement between the Company
and Indemnitee), without regard to any rights Indemnitee may have against the Secondary Indemnitors, and (iii) it irrevocably waives,
relinquishes, and releases the Secondary Indemnitors from any and all claims against the Secondary Indemnitors for contribution, subrogation,
or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Secondary Indemnitors
on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company will affect the foregoing
and the Secondary Indemnitors will have a right of contribution and be subrogated to the extent of such advancement or payment to all
of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are express
third party beneficiaries of the terms of this Section 8(c).

 

(d)
Except as provided in Section 8(c), in the event of any payment under this Agreement, the Company will be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee (other than against the Secondary Indemnitors), who will execute all papers
required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company
to bring suit to enforce such rights.

 

(e)
Except as provided in Section 8(c), the Company will not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable under this Agreement if and to the extent that Indemnitee has otherwise actually received such payment under any insurance
policy, contract, agreement, or otherwise.

 

(f)
Except as provided in Section 8(c), the Company’s obligation to indemnify or advance Expenses under this Agreement to Indemnitee
who is or was serving at the request of the Company as a director, officer, employee, or agent of any other corporation, partnership,
joint venture, trust, employee benefit plan, or other enterprise will be reduced by any amount Indemnitee has actually received as indemnification
or advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise.

 

    7

     

    

 

9.
Exceptions to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company will not be obligated under
this Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a)
for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that the foregoing
will not affect the rights of Indemnitee or the Secondary Indemnitors in Section 8(c);

 

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

 

(c)
in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part
of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees, or other indemnitees, unless (i)
the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, or (ii) the Company provides the indemnification,
in its sole discretion, pursuant to the powers vested in the Company under applicable law;

 

(d)
with respect to remuneration paid to Indemnitee if it is determined by final judgment or other final adjudication that such
remuneration was in violation of law (and, in this respect, both the Company and Indemnitee have been advised that the Securities and
Exchange Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy
and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated
in the last paragraph of this Section 9);

 

(e)
 a final judgment or other final adjudication is made that Indemnitee’s conduct was in bad faith, knowingly fraudulent
or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination);

 

(f)
for any reimbursement of the Company by Indemnitee (or any recovery by the Company from Indemnity) of (i) any bonus or other incentive-based
or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each
case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section
304 of the Sarbanes-Oxley Act or Section 954 of the Dodd-Frank Act, or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act)), or (ii) any compensation pursuant to any
compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not limited
to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act;

 

(g)
on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the
Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled; or

 

(h)
to cover any loss that Indemnitee may sustain as a result of Indemnitee’s agreement to pay debts and obligations to target
businesses or vendors or other entities that are owed money by the Company for services rendered or contracted for or products sold to
the Company, as described in the registration statement on Form S-1 filed with the Securities and Exchange Commission in connection with
the Company’s initial public offering.

 

For
purposes of this Section 9, a final judgment or other adjudication may be reached in either the underlying proceeding or action in connection
with which indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement.

 

Any
provision herein to the contrary notwithstanding, the Company will not be obligated pursuant to the terms of this Agreement to indemnify
Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under
the Securities Act, or in any registration statement filed with the SEC under the Securities Act. Indemnitee acknowledges that paragraph
(h) of Item 512 of Regulation S-K promulgated under the Securities Act currently generally requires the Company to undertake, in
connection with any registration statement filed under the Securities Act, to submit the issue of the enforceability of Indemnitee’s
rights under this Agreement in connection with any liability under the Securities Act on public policy grounds to a court of appropriate
jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking will
supersede the provisions of this Agreement and to be bound by any such undertaking.

 

    8

     

    

 

10.
Duration of Agreement. All agreements and obligations of the Company contained herein will continue during the period Indemnitee
is an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise) and will continue thereafter so long as Indemnitee will
be subject to any Proceeding (or any proceeding commenced under Section 7) by reason of his or her Corporate Status, whether or not he
or she is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided
under this Agreement. This Agreement will be binding on and inure to the benefit of and be enforceable by the parties of this Agreement
and their respective successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or
substantially all of the business or assets of the Company), assigns, spouses, heirs, executors, and personal and legal representatives.

 

11.
Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide
security to Indemnitee for the Company’s obligations under this Agreement through an irrevocable bank line of credit, funded trust,
or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent
of the Indemnitee.

  

12.
Enforcement.

 

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

 

(b)
Other than as provided in this Agreement, this Agreement constitutes the entire agreement between the parties with respect to this
subject matter and supersedes all prior agreements and understandings, oral, written and implied, between the parties with respect to
this subject matter.

 

13.
Definitions. For purposes of this Agreement:

 

(a)
“Beneficial Owner” has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however,
that Beneficial Owner will exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving
a merger of the Company with another entity.

 

(b)
“Board” means the Board of Directors of the Company.

 

(c)
“Change in Control” means the earliest to occur after the date of this Agreement of any of the following events:

 

(i)
Acquisition of Stock by Third Party. Any Person is or becomes the Beneficial Owner (as defined above), directly or indirectly, of
securities of the Company representing twenty five percent (25%) or more of the combined voting power of the Company’s then outstanding
securities unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction
in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors;

 

(ii)
Change in Board. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person
who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii) or (iv) of this definition
of Change in Control) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote
of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election
or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

 

    9

     

    

 

(iii)
Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
51% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the Board or other governing body of such surviving entity;

 

(iv)
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale
or disposition by the Company of all or substantially all of the Company’s assets; and

 

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

 

(d)
“Corporate Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary
of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person
is or was serving at the express written request of the Company.

 

(e)
“Disinterested Director” means a non-executive director of the Company who is not and was not a party to the Proceeding
in respect of which indemnification is sought by Indemnitee.

 

(f)
“Dodd-Frank Act” means the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

 

(g)
“Enterprise” means the Company and any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee,
agent or fiduciary.

 

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

 

(i)
“Expenses” includes all documented and reasonable attorneys’ fees, retainers, court costs, transcript costs,
fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service
fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting
to, a request to provide discovery in any Proceeding. Expenses also will include Expenses incurred in connection with any appeal resulting
from any Proceeding and any federal, state, local, or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt
of any payments under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond,
supersedeas bond, or other appeal bond or its equivalent. Expenses will not include amounts paid in settlement by Indemnitee or the amount
of judgments or fines against Indemnitee.

 

(j)
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification under
this Agreement. Notwithstanding the foregoing, the term “Independent Counsel” will not include any person who, under the
applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or
Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of
the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto.

 

    10

     

    

 

(k)
“Person” for purposes of the definition of Beneficial Owner and Change in Control set forth above, will have the
meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person will exclude (i) the Company, (ii)
any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

(l)
“Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by
or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is
or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by
reason of any action taken by him or her or of any inaction on his or her part while acting as an officer or director of the Company,
or by reason of the fact that he or she is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary
of another corporation, partnership, joint venture, trust or other Enterprise; in each case whether or not he or she is acting or serving
in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement;
including one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of
this Agreement to enforce his or her rights under this Agreement.

 

(m)
“Sarbanes-Oxley Act” will mean the Sarbanes-Oxley Act of 2002, as amended.

 

(n)
“SEC” will mean the Securities and Exchange Commission.

 

(o)
“Securities Act” will mean the Securities Act of 1933, as amended.

 

14.
Severability. The invalidity or unenforceability of any provision hereof will in no way affect the validity or enforceability of
any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such
provision will be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

15.
Modification and Waiver. No supplement, modification, termination, amendment or waiver of this Agreement will be binding unless executed
in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement will be deemed or will constitute a waiver
of any other provisions hereof (whether or not similar) nor will such waiver constitute a continuing waiver.

 

16.
Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification covered under this Agreement. The failure to so notify the Company will not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

 

17.
Notices. All notices and other communications given or made pursuant to this Agreement will be in writing and will be deemed effectively
given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during
normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) 5 days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications will be sent:

 

(a)  To
Indemnitee at the address on the books and records of the Company. 

 

(b)  To
the Company at:

 

Abri
SPAC I, Inc.

9663
Santa Monica Blvd., No. 1091

Beverly
Hills, CA 90210

 

Attention:
Chief Executive Officer

 

or
to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

    11

     

    

 

18.
Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature, electronic
mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act
or other applicable law) or other transmission method and in two or more counterparts, each of which will be deemed an original, but
all of which together will constitute one and the same instrument and be deemed to have been duly and validly delivered and be valid
and effective for all purposes.

 

19.
Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and will not be deemed to constitute
part of this Agreement or to affect the construction thereof.

 

20.
Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties will be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement will
be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state
or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction
of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint,
to the extent such party is not otherwise subject to service of process in the State of Delaware, irrevocably [Corporation Service Company]
as its agent in the State of Delaware for acceptance of legal process in connection with any such action or proceeding against such party
with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection
to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make,
any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

[SIGNATURE
PAGE FOLLOWS]

 

    12

     

    

 

The
parties have executed this Agreement on and as of the day and year first above written.

 

	 	Abri
    SPAC I, Inc.
	 	 
	 	By:	                                                 
	 	Name:  
	 	Title:  
	 	 
	 	Indemnitee
	 	 
	 	 
	 	Name:

 

 

13

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