Document:

Exhibit 10.7

    

     

    

     FTC SOLAR, INC.

    

    

    EMPLOYMENT AGREEMENT

    

    

    This Employment Agreement (this “Agreement”) is made and entered into as of April __, 2021, by and between FTC Solar, Inc., a Delaware corporation (the “Company” and together with its
      Affiliates, the “Company Group”), and Jay B. Grover (“Executive” and, together with the Company, the “Parties”).

    

    

    RECITALS

    

    

    WHEREAS, the Parties intend that Executive shall continue to serve the Company as its Vice President of Supply Chain effective as of the closing of the Company's initial public offering (the “IPO”)

      (the “Effective Date”) under the terms and conditions specified herein.

    

    

    NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt of which are hereby acknowledged, the Parties
      hereto agree as follows:

    

    

    1. Term.  Executive’s employment with the Company Group under the terms and
      conditions of this Agreement shall continue as of the Effective Date and shall continue until such time as Executive’s employment is terminated in accordance with the terms and conditions of Section 5 of this Agreement (the “Term”). 
      Notwithstanding any provision of this Agreement to the contrary, Executive shall be employed on an “at-will” basis and Executive’s employment may be terminated by either Party at any time.

    

    

    2. Title; Services and Duties.

    

    

    (a) During the Term, Executive shall be employed by the Company as its Vice President
      of Supply Chain, and shall report to the Chief Executive Officer of the Company, pursuant to the terms of this Agreement.

    

    

    (b) During the Term, Executive shall (i) be a full-time employee of the Company, or
      such other member of the Company Group as determined by the Board of Directors of the Company (the “Board”), (ii) have such duties, responsibilities and authority as are reasonably prescribed by the Chief Executive Officer of the Company from
      time to time and normally associated with the role of a vice president at an entity of similar size and nature as the Company and (iii) devote substantially all of Executive’s business time and best efforts to the performance of his duties to the
      Company Group and shall not engage in any other business, profession or occupation for compensation.  Notwithstanding the foregoing, Executive may (x) serve as a director or advisor of non-profit organizations without approval of the Board and as
      director or advisor of for profit companies with the prior approval of the Board, which shall not be unreasonably withheld, (y) perform and participate in charitable civic, educational, professional, community, industry affairs and other related
      activities, and (z) manage personal investments; provided, however, that such activities do not materially interfere, individually or in the aggregate, with the performance of his duties hereunder and do not materially breach the
      Proprietary Information and Inventions Agreement between Executive and the Company or Section 6(c) hereof or have an adverse impact on the Company Group.

    

    

    (c) The principal location of Executive’s employment with the Company shall be at the
      Company’s headquarters in Austin, Texas, although Executive understands and agrees that Executive may be required to travel from time to time for business reasons and Company understands and agrees that Executive currently works, and will continue to
      work, remotely in accordance with current practice.

    

    

    3. Compensation.

    

    

    (a) Base Salary. The Company Group shall pay Executive a base salary in the
      amount of $236,300 per annum, as adjusted as permitted herein (the “Base Salary”) during the Term, payable in accordance the Company Group’s regular payroll practices as in effect from time to time.  The Base Salary shall be periodically
      reviewed by the Board during the Term and subject to change upon reasonable notice.

    
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    (b) Cash Bonus.

    

    

    (i) Executive shall be eligible to participate in the Company’s annual incentive plan
      for each fiscal year of the Company during the Term with a target amount equal to 60% of the Base Salary (the “Target Bonus”).  The Target Bonus may be increased, but not decreased during the Term.  The actual amount of the annual cash bonus,
      if any, payable to Executive in respect of any fiscal year during the Term may be based on the achievement of performance criteria established by, and may relate to financial and non-financial metrics as determined by, the Board or the Compensation
      Committee of the Board.

    

    

    (ii) Any annual cash bonus that becomes payable to Executive under this Section
        3(b) shall be paid to Executive, in cash, as soon as practicable following the end of the year of the Company to which it relates; provided, that, except as otherwise provided in Section 5(a)(ii), Section 5(b) or
      Section 5(c) herein, Executive is an active employee of the Company Group, and has not given or received notice of termination or resignation of employment as of the date on which such payment is made.

    

    

    (c) Long Term Incentives.  Executive shall be eligible to participate in the
      long-term incentive compensation program adopted by the Compensation Committee from time to time in its sole discretion.

    

    

    4. Employee Benefits.

    

    

    (a) Employee Benefits and Perquisites. During the Term, Executive shall be
      eligible to participate in all benefit plans made available by the Company Group to its executives generally. Such benefits shall be subject to the applicable limitations and requirements imposed by the terms of such benefit plans and shall be
      governed in all respects in accordance with the terms of such plans as in effect from time to time.  Nothing in this Section 4(a), however, shall require the Company or any member of the Company Group to maintain any benefit plan or provide
      any type or level of benefits to its current or former employees, including Executive.

    

    

    (b) Paid Vacation. During the Term, Executive shall be entitled to paid vacation
      in accordance with the terms and conditions of the Company’s vacation policies as in effect from time to time.

    

    

    (c) Reimbursement of Business Expenses. The Company Group shall reimburse
      Executive for any expenses reasonably and necessarily incurred by Executive during the Term in furtherance of Executive’s duties hereunder, including travel, meals and accommodations, upon submission by Executive of vouchers or receipts and in
      compliance with such rules and policies relating thereto as the Company may from time to time adopt.

    

    

    5. Termination of Employment. Executive’s employment shall be terminated at the
      earliest to occur of the following during the Term: (i) the date on which the Company Group provides notice to Executive of termination for “Disability” (as defined below); (ii) the date of Executive’s death; (iii) the date on which the Company Group
      provides notice to Executive of termination for “Cause” (as defined below); (iv) the date which is 30 days following the date on which the Company Group provides notice to Executive of termination without Cause (or, in the sole discretion of the
      Company, pay in lieu of 30 days’ notice of termination); (v) the date which is 30 days following the date on which Executive provides notice to the Company of termination of employment by Executive other than for “Good Reason” (as defined below); or
      (vi) the applicable date set forth in the definition of Good Reason if such termination is by Executive for Good Reason.  For purposes of this Agreement, the last day of Executive’s employment with the Company for any reason shall be referred to
      herein as the “Date of Termination.”

    

    

    (a) For Cause; Resignation by Executive Other than for Good Reason; Death or
        Disability. If Executive’s employment with the Company Group is terminated by the Company for Cause or as a result of Executive’s death or Disability, or Executive resigns his employment other than for Good Reason, Executive shall not be
      entitled to any further compensation or benefits other than, in each case if applicable as of the Date of Termination: (i) any accrued but unpaid Base Salary (payable as provided in Section 3(a) hereof); (ii) if the Executive’s employment
      with the Company Group is terminated as a result of Executive’s death or Disability, any unpaid annual cash bonus for the immediately preceding (completed) fiscal year, as determined and payable at the same time as other senior officers of the
      Company; (iii) reimbursement for any expenses properly incurred and reported by Executive prior to the Date of Termination in accordance with Section 4(c) hereof, payable on the Company Group’s first regularly scheduled payroll date which
      occurs at least 10 business days after the Date of Termination; and (iv) vested employee benefits, if any, to which Executive may be entitled under the Company Group’s employee benefit plans described in Section 4(a) and Section 4(b)
      as of the Date of Termination (collectively, the “Accrued Rights”).

    

    

    
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    (b) Termination by the Company without Cause or Resignation for Good Reason. If
      Executive’s employment is terminated by the Company Group without Cause or Executive terminates his employment for Good Reason, then Executive shall be entitled to receive the Accrued Rights, and if (x) subject to Section 5(d), Executive executes a
      release of claims in the form attached as Exhibit A hereto, subject to any revisions necessary to reflect changes in applicable law occurring after the date hereof (the “Release”), and the applicable revocation period with respect to
      the Release expires within 60 days (or such longer period as required by law) following the Date of Termination and (y) Executive does not breach in any material respect the restrictive covenants set forth in Section 6 hereof, then Executive
      shall receive the following:

    

    

    (i) An amount in cash equal to one times the Base Salary as in effect immediately
      prior to the Date of Termination (without regard to any reduction resulting in Good Reason), which amount shall be payable in substantially equal installments during the 12 month period immediately following the Date of Termination in accordance with
      the Company Group’s regular payroll practices as in effect from time to time; provided, that, the first such payment shall be made on the first regularly scheduled payroll date of the Company Group that occurs on or following the 60th day after the Date of Termination (the “Payment Commencement Date”) and shall include all payments that would have been made to Executive had such payments
      commenced on the first regularly scheduled payroll date of the Company Group following the Date of Termination;

    

    

    (ii)     any unpaid annual cash bonus for the immediately preceding (completed) fiscal year as determined and payable at the same time as other senior officers of the
      Company for such year, and a pro rata annual cash bonus for the year in which the Date of Termination occurs for days worked through the Date of Termination, based on actual Company financial performance, payable at the same time as annual cash
      bonuses are paid to senior officers of the Company for such year; and

    

    

    (iii)     with respect to health insurance coverage, COBRA benefits (to the extent elected by the Executive) and a lump sum payment equal to the cost of COBRA benefits
      for Executive and his spouse and eligible dependents for a period of 18 months following the Date of Termination, payable on the Payment Commencement Date. Executive acknowledges that such payments shall be taxable to him.

    

    

    (c) Termination by the Company without Cause or Resignation for Good Reason on or
        Following a Change in Control. If, on or within 12 months following a Change in Control, Executive’s employment is terminated by the Company Group without Cause or Executive resigns his employment for Good Reason, then Executive shall be
      entitled to receive the Accrued Rights, and if (x) subject to Section 5(d), Executive executes the Release, subject to any revisions necessary to reflect changes in applicable law occurring after the date hereof, and the applicable revocation period
      with respect to the Release expires within 60 days (or such longer period as required by law) following the Date of Termination and (y) Executive does not breach in any material respect the restrictive covenants set forth in Section 6 hereof,
      then Executive shall receive the following:

    

    

    (i) An amount in cash equal to one times the sum of (A) the Base Salary as in effect
      immediately prior to the Date of Termination (without regard to any reduction resulting in Good Reason) and (B) the Target Bonus (without regard to any reduction resulting in Good Reason), which amount shall be payable in a lump sum on the first
      regularly scheduled payroll date of the Company Group that occurs on or following the Payment Commencement Date;

    

    

    (ii) any unpaid annual cash bonus for the immediately preceding (completed) fiscal
      year as determined and payable at the same time as other senior officers of the Company, and a pro rata annual cash bonus for the year in which the Date of Termination occurs for days worked through the Date of Termination, based on actual Company
      financial performance, payable in each case at the same time as annual cash bonuses are paid to senior officers of the Company for such years;

    

    

    (iii) with respect to health insurance coverage, COBRA benefits (to the extent elected
      by Executive) and a lump sum payment equal to the cost of COBRA benefits for Executive and his spouse and eligible dependents for a period of 18 months following the Date of Termination, payable on the Payment Commencement Date. Executive
      acknowledges that such payments shall be taxable to him;

    

    

    (iv) The stock option awards held by Executive shall become vested and exercisable in
      full, the restricted stock units held by Executive shall become vested in full (and the Company shall be required to thereafter settle such restricted stock units in common stock (provided that, to the extent that the restricted stock unit award is
      subject to Section 409A of the Code, the restricted stock units shall be settled at the time and in the form required by the restricted stock unit award agreement), and any other restrictions with respect to any stock-based awards held by Executive
      shall lapse in full (including for any performance-based award, with respect to the number of shares that would be earned at the target level of achievement), and, in the case of stock options, any such stock options (together with any stock options
      that have vested and become exercisable prior to the Date of Termination) shall remain exercisable for a period of 90 days following the Date of Termination.  The provisions of this clause (iii) shall apply in respect of any stock options, restricted
      stock units or other stock-based award of Executive, whether issued prior to the date hereof or after the date hereof, and whether issued pursuant to a stock incentive plan of the Company or otherwise.  The provisions of this clause (iii) shall be
      fully incorporated into any agreement between the Company and Executive governing stock options, restricted stock units or other stock-based awards of Executive, and shall supplement (and shall not limit or restrict) any other rights of Executive
      under any such agreement related to accelerated vesting or exercise or lapsing of any restrictions for stock-based awards (or the terms of any stock incentive plan that is incorporated therein); and

    

    

    
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    (v) The Company also shall pay to Executive all legal fees and expenses incurred by
      Executive in disputing in good faith any issue hereunder relating to the termination of the Executive’s employment, in seeking in good faith to obtain or enforce any benefit or right provided by this Agreement or in connection with any tax audit or
      proceeding to the extent attributable to the application of section 4999 of the Code to any payment or benefit provided hereunder.  Such payments shall be made within five (5) business days after delivery of Executive’s written requests for payment
      accompanied with such evidence of fees and expenses incurred as the Company reasonably may require; provided that in no event will payment be made for requests that are submitted later than December 31st of the year following the year in which the expense is incurred.

    

    

    (d) If the Company does not provide the Release to Executive within ten (10) business
      days of the Date of Termination pursuant to Section 5(b) or 5(c), as the case may be, or if the Company informs Executive that Executive will not be obligated to sign the Release, then Executive shall be entitled to receive the severance and other
      benefits provided by such section without signing the Release.

    

    

    (e) Definitions. For purposes of this Agreement:

    

    

    (i) “Affiliate” as applied to any Person, means any other Person directly or
      indirectly controlling, controlled by, or under common control with, that Person. For the purposes of this definition “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common
        control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities (the
      ownership of more than 50% of the voting securities of an entity shall for purposes of this definition be deemed to be “control”), by contract or otherwise.

    

    

    (ii) “Cause” means (in each case, other than due to death or Disability): (A)
      Executive’s conviction of, or plea of guilty or nolo contendere to, any felony or crime involving fraud, misrepresentation or moral turpitude (excluding traffic offenses other than traffic offenses involving
      the use of alcohol or illegal substances); (B) any act of theft, dishonesty, embezzlement or misappropriation by Executive against the Company or any of its Affiliates that has or could reasonably be expected to result in economic harm to any member
      of the Company Group; (C) Executive’s willful or material breach of a fiduciary obligation or any willful malfeasance or gross negligence; (D) a violation by Executive of any written policy of the Company that has or could reasonably be expected to
      result in material harm to member of the Company Group; (E) a material breach by Executive of Section 6 of this Agreement or of any other noncompetition, non-solicitation, confidentiality or similar agreement between Executive and the Company
      or any of its Affiliates; (F) any willful failure by Executive to follow the reasonable and lawful written directives of the Board that are related to Executive’s position with the Company; or (G) Executive’s material violation of the Company Group’s
      code of conduct, employee handbook or similar written policies, including, without limitation, the Company Group’s sexual harassment policy and policies or rules relating to other types of harassment or abusive conduct.  For the avoidance of doubt, a
      failure of the Company to attain any applicable performance goals or financial metrics shall not, in and of itself, constitute Cause.  Notwithstanding the foregoing, in no event will the occurrence of any such condition constitute Cause unless the
      Company provides notice to Executive of the existence of the condition giving rise to Cause within 120 days following the Company’s knowledge of its existence.

    

    

    (iii) “Change in Control” has the meaning set forth in the Company’s 2021 Stock
      Plan, as amended from time to time, or any successor plan thereto.

    

    

    (iv) “Disability” means Executive is unable, due to physical or mental
      incapacity, to perform his duties to the Company under this Agreement for a period of either (A) 90 consecutive days or (B) 180 days in any 365 day period.

    

    

    (v) “Good Reason” means, in each case without Executive’s written consent, (A)
      a material diminution in Executive’s Base Salary or Target Bonus opportunity; (B) a material diminution or material adverse change in Executive’s authority, duties, responsibilities or role (and following a Change in Control, the assignment of duties
      or responsibilities that are materially inconsistent with those in effect immediately prior to the Change in Control; including, without limitation, if the Executive was, immediately prior to the Change in Control, an executive officer of a public
      company, any such change in duties or responsibilities attributable to the Executive ceasing to be an executive officer of a public company) or an adverse change in Executive’s title or role; (C) any relocation of Executive’s primary office location
      that increases Executive's one-way commute by fifty (50) miles or more, and, following a Change in Control, any required travel on the Company’s business to an extent substantially inconsistent with the Executive’s business travel obligations
      immediately prior to a Change in Control; (D) in connection with a Change in Control, the failure of the Company to obtain an express assumption and agreement by a successor of the Company to perform this Agreement in the same manner and to the same
      extent that the Company would be required to perform it if no such succession had taken place; or (E) a material breach of this Agreement by the Company.  Notwithstanding the foregoing, in no event will the occurrence of any such condition constitute
      Good Reason unless (1) Executive provides notice to the Company of the existence of the condition giving rise to Good Reason within 60 days following Executive’s knowledge of its existence and (2) the Company fails to cure such condition within 30
      days following the date of such notice, upon which failure to cure Executive’s employment will immediately terminate with Good Reason.

    

    

    (vi) “Person” means any individual, corporation, partnership, limited liability
      company, joint venture, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.

    

    

    
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    6. Restrictive Covenants.

    

    

    (a) Acknowledgment. Executive agrees and acknowledges that, in the course of
      Executive’s employment, Executive shall acquire access to and become acquainted with information about the Company Group that is non-public, confidential or proprietary in nature. Executive acknowledges that the Company is engaged throughout the
      world in a highly competitive business and the success of the Company in the marketplace depends upon its goodwill and reputation, and that Executive has developed and shall continue to develop such goodwill and reputation through substantial
      investment by the Company. Executive agrees and acknowledges that reasonable limits on Executive’s ability to engage in activities competitive with the Company are warranted to protect its substantial investment in developing and maintaining its
      status in the marketplace, reputation and goodwill. Executive recognizes that in order to guard the legitimate interests of the Company, it is necessary for it to protect all “Confidential Information” (as defined below) and the disclosure of
      Confidential Information would place the Company at a competitive disadvantage. Executive further agrees that Executive’s obligations under this Section 6 are reasonable and shall be absolute and unconditional.

    

    

    (b) Confidential Information.  During Executive’s employment and at all times
      following Executive’s termination of employment for any reason, Executive shall hold in a fiduciary capacity for the benefit of the Company all non-public information, matters and materials of the Company Group, including, without limitation,
      know-how, trade secrets, customer lists, pricing policies, operational methods, information relating to products, processes, customers, services and other business and financial affairs and information as to customers or other third parties
      (collectively, the “Confidential Information”), in each case to which Executive has had or may have access and shall not, directly or indirectly, use or disclose such Confidential Information to any Person other than (i) to the extent required
      in the course of Executive’s employment or as otherwise expressly required in connection with court process or requested by a governmental or regulatory body, (ii) as may be required by law (with advance notice to the Company prior to any such
      disclosure to the extent legally permitted) or (iii) to Executive’s personal advisers for purposes of enforcing or interpreting this Agreement (or in the case of any other litigation between Executive and the Company), or to a court or arbitrator for
      the purpose of enforcing or interpreting this Agreement (or in the case of any other litigation between Executive and the Company), and who in each case have been informed as to the confidential nature of such Confidential Information and, as to
      advisers, their obligation to keep such Confidential Information confidential. “Confidential Information” shall not include any information which is in the public or industry domain during Executive’s employment, provided such information is not in
      the public or industry domain as a consequence of any action or inaction by Executive in violation of this Agreement. Upon the termination of Executive’s employment for any reason, Executive shall deliver to the Company all documents, papers and
      records (including, but not limited to, electronic media) in Executive’s possession or subject to Executive’s control that (x) belong to the Company Group or (y) contain or reflect any Confidential Information concerning the Company Group.

    

    

    (c) Non-Competition and Non-Solicitation.  In consideration of the Company’s
      obligations hereunder, during Executive’s employment and for a period of 18 months thereafter, Executive will not, whether for Executive’s own account or for any other Person, directly or indirectly, with or without compensation:

    

    

    (i) Own, operate, manage, or control, serve as an officer, director, partner,
      employee, agent, consultant, advisor or developer or in any similar capacity to, or have any financial interest in, or aid or assist anyone else in the conduct of, any Person which directly competes with any product line of or application or service
      offered by the Company or any member of the Company Group or any of their respective subsidiaries anywhere in the world;

    

    

    (ii) Call upon for competitive purposes, solicit, divert, take away or attempt to
      solicit for competitive purposes any of the customers, prospective customers or suppliers or any other business contacts of the Company or any member of the Company Group or any of their respective subsidiaries with whom Executive had direct or
      indirect contact during Executive’s employment with the Company Group; or

    

    

    (iii) Solicit, retain, knowingly hire, knowingly offer to hire, entice away or in any
      manner persuade or attempt to persuade any officer, employee or agent of the Company or any member of the Company Group or any of their respective subsidiaries who was employed, engaged or recruited during Executive’s employment with the Company
      Group to discontinue his or her relationship with the Company Group or such Affiliates.

    

    

    Non-targeted, general, solicitations to the public shall be deemed not to breach this Section 6.  Notwithstanding the foregoing, nothing in this Section 6(c) will prohibit Executive from acquiring or
      holding not more than two percent (2%) of any class of publicly traded securities.

    

    

    
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    (d) Intellectual Property.  All copyrights, trademarks, trade names,
      servicemarks, patents and other intangible or intellectual property rights that may be invented, conceived, developed or enhanced during Executive’s employment with the Company Group (whether prior to or after the Effective Date) that either (i)
      relate to the business of the Company Group or (ii) result from any work performed by Executive for the Company Group, shall be the sole property of the Company or such Affiliate, as the case may be, and Executive hereby waives any right or interest
      that Executive may otherwise have in respect thereof. Upon request of the Company Group, Executive shall execute, acknowledge and deliver any assignment or other instrument or document reasonably necessary or appropriate to give effect to this Section

        6(d) and do all other acts and things reasonably necessary to enable the Company or such Affiliate, as the case may be, to exploit the same or to obtain patents or similar protection with respect thereto.  Executive agrees that Executive shall
      execute such additional stand-alone agreements protecting the intellectual property of the Company Group as are provided generally to employees of the Company upon their hire or otherwise as a condition to employment.

    

    

    (e) Non-Disparagement.  Executive agrees that, at all times after Executive’s
      employment with the Company Group, Executive shall not make critical, negative or disparaging remarks about the Company Group that could reasonably be expected to result in material harm to the Company Group, including, but not limited to, comments
      about any of their respective products, services, management, business or employment practices; provided, that, nothing in this paragraph shall prevent Executive from asserting his legal rights before an administrative agency or court
      of law, or from responding fully and accurately to any question, inquiry or request for information when required by applicable law or legal process.

    

    

    (f) Modification. The parties agree and acknowledge that the duration, scope and
      geographic area of the covenants described in this Section 6 are fair, reasonable and necessary in order to protect the goodwill and other legitimate interests of the Company, that adequate consideration has been received by Executive for
      such obligations, and that these obligations do not prevent Executive from earning a livelihood. If, however, for any reason any arbitrator or court of competent jurisdiction determines that the restrictions in this Section 6 are not
      reasonable, that consideration is inadequate or that Executive has been prevented unlawfully from earning a livelihood, such restrictions shall be interpreted, modified or rewritten to include as much of the duration, scope and geographic area
      identified in this Section 6 as shall render such restrictions valid and enforceable.

    

    

    (g) Remedies for Breach. The Parties agree that the restrictive covenants
      contained in this Agreement are severable and separate, and the unenforceability of any specific covenant herein shall not affect the validity of any other covenant set forth herein. Executive acknowledges that the Company shall suffer irreparable
      harm as a result of a material breach of such restrictive covenants by Executive for which an adequate monetary remedy does not exist and a remedy at law may prove to be inadequate. Accordingly, in the event of any actual or threatened material
      breach by Executive of any provision of this Section 6, the Company shall, in addition to any other remedies permitted by law, be entitled to seek to obtain remedies in equity, including, without limitation, specific performance, injunctive
      relief, a temporary restraining order, and/or a permanent injunction in any court of competent jurisdiction (each, an “Equitable Remedy”), to prevent or otherwise restrain a material breach of this Section 6, without the necessity of
      proving damages, posting a bond or other security. Such relief shall be in addition to and not in substitution of any other remedies available to the Company. The existence of any claim or cause of action of Executive against the Company, whether
      predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of said covenants. 

    

    

    

    (h) Permitted Disclosures.  Executive and the Company acknowledge that nothing
      contained in this Agreement or in any other agreement with or policy of the Company is intended, nor shall be construed, to restrict Executive from voluntarily communicating with, or participating in any investigation or proceeding that may be
      conducted by, any governmental agency, regulatory authority or self- regulatory organization concerning possible violations of law, including providing documents or other information in that connection to any governmental agency, regulatory authority
      or self- regulatory organization, in each case without notice to the Company or any other member of the Company Group. Moreover, pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b)), Executive and the
      Company acknowledge that Executive shall not have criminal or civil liability under any federal or State trade secret law for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official,
      either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is
      made under seal. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such Section.

    

    

    7. Assignment. This Agreement, and all of the terms and conditions hereof, shall
      bind the Company and its successors and assigns and shall bind Executive and Executive’s heirs, executors and administrators. No transfer or assignment of this Agreement shall release the Company from any obligation to Executive hereunder. Neither
      this Agreement, nor any of the Company’s rights or obligations hereunder, may be assigned or otherwise subject to hypothecation by Executive, and any such attempted assignment or hypothecation shall be null and void. The Company may assign any of its
      rights hereunder, in whole or in part, to any successor or assign in connection with the sale of all or substantially all of the Company’s assets or equity interests or in connection with any merger, acquisition and/or reorganization.

    

    

    
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    8. Arbitration.

    

    

    (a) Except as otherwise set forth in Section 6 of this Agreement, the Company
      and Executive mutually consent to the resolution by final and binding arbitration of any and all disputes, controversies or claims between them including, without limitation, (i) any dispute, controversy or claim related in any way to Executive’s
      employment with the Company or any termination thereof, (ii) any dispute, controversy or claim of alleged discrimination, harassment or retaliation (including, but not limited to, claims based on race, sex, sexual preference, religion, national
      origin, age, marital or family status, medical condition, handicap or disability) and (iii) any claim arising out of or relating to this Agreement or the breach thereof (collectively, “Disputes”); provided, however, that
      nothing herein shall require arbitration of any claim or charge which, by law, cannot be the subject of a compulsory arbitration agreement.  All Disputes shall be resolved exclusively by arbitration administered by the Judicial Arbitration and
      Mediation Services (“JAMS”) under the JAMS Comprehensive Arbitration Rules & Procedures then in effect (the “JAMS Rules”).

    

    

    (b) Any arbitration proceeding brought under this Agreement shall be conducted in
      Austin, Texas or another mutually agreed upon location before one arbitrator selected in accordance with the JAMS Rules.  Each party to any Dispute shall pay its own expenses, including attorneys’ fees; provided, that, the arbitrator
      shall award the prevailing party reasonable costs and attorneys’ fees incurred but shall not be able to award any special or punitive damages.  The arbitrator shall issue a decision or award in writing, stating the essential findings of fact and
      conclusions of law.

    

    

    (c) Any judgment on or enforcement of any award, including an award providing for
      interim or permanent injunctive relief, rendered by the arbitrator may be entered, enforced or appealed from in any court of competent jurisdiction.  Any arbitration proceedings, decision or award rendered hereunder, and the validity, effect and
      interpretation of this arbitration provision, shall be governed by the Federal Arbitration Act, 9 U.S.C. §1 et seq.

    

    

    (d) It is part of the essence of this Agreement that any Disputes hereunder shall be
      resolved expeditiously and as confidentially as possible.  Accordingly, the Company and Executive agree that all proceedings in any arbitration shall be conducted under seal and kept strictly confidential.  In that regard, no party shall use,
      disclose or permit the disclosure of any information, evidence or documents produced by any other party in the arbitration proceedings or about the existence, contents or results of the proceedings except as may be required by any legal process, as
      required in an action in aid of arbitration or for enforcement of or appeal from an arbitral award or as may be permitted by the arbitrator for the preparation and conduct of the arbitration proceedings.  Before making any disclosure permitted by the
      preceding sentence, the party intending to make such disclosure shall give the other party reasonable written notice of the intended disclosure and afford such other party a reasonable opportunity to protect its interests.

    

    

    9. General.

    

    

    (a) Notices. All notices, requests, consents, claims, demands, waivers and other
      communications hereunder shall be in writing and shall be deemed to have been given: (i) when delivered by hand (with written confirmation of receipt); (ii) when received by the addressee if sent by a nationally recognized overnight courier (receipt
      requested); (iii) on the date sent by facsimile or e-mail; or (iv) on the third (3rd) day after the date mailed, by certified or registered mail, return receipt
      requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 9(a)):

    

    

    To the Company:

    

    

    Attention: General Counsel

    9020 N Capital of Texas Hwy

    Suite I-260, Austin, Texas 78759

    Email: jwolf@ftcsolar.com

    

    

    To Executive:

    

    

    At the address shown in the Company Group’s personnel records.

    

    

    (b) Entire Agreement. This Agreement (including any Exhibits hereto) constitutes
      the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein and therein, and, effective as of the Effective Date, supersedes the employment agreement entered into by and between the Company and
      Executive, dated September 22, 2017 and all other prior and contemporaneous representations, warranties, understandings and agreements, both written and oral, with respect to such subject matter; provided, that this Agreement shall not supersede in
      full the terms of any agreement related to stock-based awards of Executive, but shall instead supplement (and shall not limit or restrict) the existing rights of Executive under any such agreement, including by expanding Executive’s rights thereunder
      in respect of accelerated vesting or exercise or lapsing of any restrictions for stock-based awards, in each case, as set forth in this Agreement.

    

    

    
      7

      
        

    

    
    (c) Headings. The headings in this Agreement are for reference only and shall
      not affect the interpretation of this Agreement.

    

    

    (d) Amendment and Modification; Waiver. This Agreement may only be amended,
      modified or supplemented by an agreement in writing signed by all of the parties hereto. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver
      thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

    

    

    (e) Governing Law. This Agreement shall be governed by and construed in
      accordance with the internal laws of the State of Texas without giving effect to any choice or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction).

    

    

    (f) Survivorship. The provisions of this Agreement necessary to carry out the
      intention of the parties as expressed herein shall survive the termination or expiration of this Agreement, including without limitation, the provisions of Section 6 hereof.

    

    

    (g) No Third-party Beneficiaries. This Agreement is for the sole benefit of the
      parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under
      or by reason of this Agreement.

    

    

    (h) Construction. The parties acknowledge that this Agreement is the result of
      arm’s-length negotiations between sophisticated parties, each afforded representation by legal counsel. Each and every provision of this Agreement shall be construed as though both parties participated equally in the drafting of the same, and any
      rule of construction that a document shall be construed against the drafting party shall not be applicable to this Agreement.

    

    

    (i) Withholding.  All compensation payable to Executive pursuant to this
      Agreement shall be subject to any applicable statutory withholding taxes and such other taxes as are required or permitted under applicable law and such other deductions or withholdings as authorized by Executive to be collected with respect to
      compensation paid to Executive.

    

    

    (j) Section 409A. The intent of the parties is that payments and benefits under
      this Agreement comply with, or be exempt from, Section 409A of the Code, to the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith.
      Notwithstanding anything contained herein to the contrary, Executive shall not be considered to have terminated employment with the Company for purposes of any payments under this Agreement which are subject to Section 409A of the Code until
      Executive would be considered to have incurred a “separation from service” from the Company Group within the meaning of Section 409A of the Code. Each amount to be paid or benefit to be provided under this Agreement shall be construed as a separate
      identified payment for purposes of Section 409A of the Code. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under
      Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement or any other arrangement between Executive and the Company Group during the six-month period immediately
      following Executive’s separation from service shall instead be paid on the first business day after the date that is six months following Executive’s separation from service (or, if earlier, Executive’s date of death). To the extent required to avoid
      an accelerated or additional tax under Section 409A of the Code, amounts reimbursable to Executive under this Agreement shall be paid to Executive on or before the last day of the year following the year in which the expense was incurred and the
      amount of expenses eligible for reimbursement (and in kind benefits provided to Executive) during one year may not affect amounts reimbursable or provided in any subsequent year.  The Company makes no representation that any or all of the payments
      described in this Agreement shall be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment.

    

    

    
      8

      
        

    

    (k) 280G Payments.  Any other provision of this Agreement to the contrary
      notwithstanding, if any portion of any payment or benefit under this Agreement either individually or in conjunction with any payment or benefit under any other plan, agreement or arrangement (all such payments and benefits, the “Total Payments”)

      would constitute an “excess parachute payment” within the meaning of Internal Revenue Code Section 280G, that is subject to the tax imposed by Section 4999 of such Code (the “Excise Tax”), then the Total Payments to be made to Executive shall
      be reduced, but only to the extent that Executive would retain a greater amount on an after-tax basis than he would retain absent such reduction, such that the value of the Total Payments that Executive is entitled to receive shall be $1 less than
      the maximum amount which the Employee may receive without becoming subject to the Excise Tax. For purposes of this Section 9(k), the determination of whichever amount is greater on an after-tax basis shall be (x) based on maximum federal, state and
      local income and employment tax rates and the Excise Tax that would be imposed on Executive and (y) made at the Company’s expense by independent consultants or accountants selected by the Company and Executive (which may be the Company’s income tax
      return preparers provided that Executive so agrees) which determination shall be binding on both Executive and the Company. Any such reduction as may apply under this Section 9(k) shall be applied in the following order: (i) payments that are
      payable in cash the full amount of which are treated as parachute payments under Treasury Regulation Section 1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last reduced first; (ii) payments and benefits
      due in respect of any equity the full amount of which are treated as parachute payments under Treasury Regulation Section 1.280G-1, Q&A 24(a), with the highest values reduced first (as such values are determined under Treasury Regulation Section
      1.280G-1, Q&A 24) will next be reduced; (iii) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with amounts that are payable last reduced first, will next be
      reduced; (iv) payments and benefits due in respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with the highest values reduced first (as such values are determined under Treasury Regulation
      Section 1.280G-1, Q&A 24) will next be reduced; and (v) all other non-cash benefits not otherwise described in clauses (ii) or (iv) will next be reduced pro-rata.

    

    

    (l) No Mitigation.  The Company agrees that, upon termination of Executive’s
      employment hereunder, Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to Executive by the Company Group under this Agreement or otherwise.  Further, no payment or benefit provided for in this
      Agreement or elsewhere shall be reduced by any compensation earned by Executive as the result of employment by another employer.

    

    

    (m) Counterparts.  This Agreement may be executed in counterparts, each of which
      shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal
      effect as delivery of an original signed copy of this Agreement.

    

    

    (n) Condition Precedent.  This Agreement shall become null and void in the event
      that (i) the IPO is not consummated or (ii) Executive’s employment does not continue with the Company through the IPO.

    

    

    [Remainder of page is left blank intentionally]

    

    

    
      9

      
        

    

    IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND THEREBY, the parties hereto have executed and delivered this Agreement as of the year and date first above written.

     

    

     

    
      	
               

            	FTC SOLAR, INC.
	
               

            	
               

            	 	
               

            
	
               

            	
               

            	 	
               

            
	 	By:

            	 	 
	 	 	Name:

            	Jacob D. Wolf 
	 	 	Title:

            	General Counsel 
	 	 	 	 
	 	 	 	 
	 	EXECUTIVE
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Jay B. Grover

    

     

    

    [Signature Page to Employment Agreement]

    

    

    
      10

      
        

    

    Exhibit A

    

    

    Form of General Release of Claims

    

    

    This General Release of Claims (this “Agreement”) is entered into by and between FTC Solar, Inc., a Delaware corporation (the “Company”), and [●] (“Executive”) on the
      below-indicated date.

    

    

    WHEREAS, Executive, and the Company entered into an Employment Agreement dated as of [●], (the “Employment Agreement”), that provides Executive certain severance and other benefits in the
      event of certain terminations of Executive’s employment;

    

    

    WHEREAS, Executive’s employment has so terminated; and

    

    

    WHEREAS, pursuant to [Section 5(b)] [Section 5(c)] of the Employment Agreement, a condition precedent to Executive’s entitlement to certain severance and other benefits thereunder is
      his agreement to this Agreement.

    

    

    NOW, THEREFORE, in consideration of the severance and other benefits provided under [Section 5(b)] [Section 5(c)] of the Employment Agreement, the sufficiency of which Executive
      hereby acknowledges, Executive agrees as follows:

    

    

    1. General Release of Claims. Executive, for and on behalf of Executive and
      Executive’s heirs, executors, administrators, successors and assigns, hereby voluntarily, knowingly and willingly release and forever discharge the Company and all of its past and present parents, subsidiaries, and affiliates, each of their
      respective members, officers, directors, stockholders, partners, employees, agents, representatives and attorneys, and each of their respective subsidiaries, affiliates, estates, predecessors, successors, and assigns (each, individually, a “Releasee,”

      collectively referred to as the “Releasees”) from any and all rights, claims, charges, actions, causes of action, complaints, sums of money, suits, debts, covenants, contracts, promises, obligations, damages, demands or liabilities of every
      kind whatsoever, in law or in equity, whether known or unknown, suspected or unsuspected (collectively, “Claims”) which Executive or Executive’s heirs, executors, administrators, successors or assigns ever had, now has or may hereafter claim
      to have by reason of any matter, cause or thing whatsoever: (i) arising from the beginning of time up to the date Executive executes this Agreement with respect to (A) any such Claims relating in any way to Executive’s employment relationship with
      the Company or any other Releasee, and (B) any such Claims arising under any federal, local or state statute or regulation, including, without limitation, the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit
      Protection Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, each as amended and including each of their respective implementing regulations and/or any
      other federal, state, local or foreign law (statutory, regulatory or otherwise) that may be legally waived and released; (ii) arising out of or relating to the termination of Executive’s employment; or (iii) arising under or relating to any policy,
      agreement, understanding or promise, written or oral, formal or informal, between the Company or any other Releasee and Executive.

    

    

    2. Exceptions to General Release of Claims.

    

    

    (a) Nothing contained in this Agreement shall in any way diminish or impair: (i) any
      Claims Executive may have that cannot be waived under applicable law, (ii) Executive’s rights under this Agreement and to severance and other benefits provided under Section 5[(b)][(c)] of the Employment Agreement, (iii) any rights Executive
      may have to vested benefits under health, welfare and tax-qualified retirement employee benefit plans, or (iv) any rights Executive may have to indemnification from the Company or coverage under any director and officer liability insurance policy. 
      The Company acknowledges and agrees that this Agreement does not preclude Executive from filing any charge with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Securities and Exchange Commission or any other
      governmental agency or from any way participating in any investigation, hearing, or proceeding of any government agency.  Executive does not need prior authorization from the Company to make any such reports or disclosures and except as may otherwise
      be required by applicable law, is not required to notify the Company that Executive has made such reports or disclosures.  This Agreement does not limit Executive’s right to receive an award for information provided to any governmental agency or
      entity.

    

    

    (b) Pursuant to 18 U.S.C. §1833(b), Executive shall not be held criminally or civilly
      liable under any Federal or State trade secret law for the disclosure of a trade secret of the Company that (i) is made (A) in confidence to a Federal, State, or local government official, either directly or indirectly, or to Executive’s attorney,
      and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  If Executive files a lawsuit for retaliation by
      the Company for reporting a suspected violation of law, Executive may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if Executive (1) files any document containing the trade secret under seal,
      and (2) does not disclose the trade secret, except pursuant to court order.  Nothing in this Agreement is intended to conflict with 18 U.S.C. §1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. 
      Further, nothing in any agreement Executive has with the Company shall prohibit or restrict Executive from making any voluntary disclosure of information or documents related to any violation of law to any governmental agency or legislative body, or
      any self-regulatory organization, in each case, without advance notice to the Company.

    

    

    
      
        

    

    
    3. Affirmations. Executive affirms that he has not filed, caused to be filed, or
      presently is a party to any claim, complaint, or action against the Company or the other Releasees in any forum or form.  Executive furthermore affirms that Executive has no known workplace injuries or occupational diseases, and has been provided and
      has not been denied any leave requested under the Family and Medical Leave Act.  Executive disclaims and waives any right of reinstatement with the Company.

    

    

    4. Restrictive Covenants.  Executive acknowledges and agree that each of the
      restrictive covenants to which Executive is subject as of the date hereof (including without limitation, the provisions set forth in Section 6 of the Employment Agreement) shall continue to apply in accordance with their terms for the
      applicable periods with respect thereto.

    

    

    5. Governing Law. This Agreement shall be governed by and construed in
      accordance with the internal laws of the State of Texas without giving effect to any choice or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction).

    

    

    6. No Admission of Wrongdoing. The parties agree that neither this Agreement nor
      the furnishing of the consideration set forth in the Employment Agreement shall be deemed or construed at any time for any purpose as an admission by any party of any liability, wrongdoing or unlawful conduct of any kind.

    

    

    7. Consultation With Attorney; Voluntary Agreement.  Executive acknowledges that
      (a) the Company has advised Executive of Executive’s right to consult with an attorney of Executive’s own choosing prior to executing this Agreement, (b) Executive has carefully read and fully understands all of the provisions of this Agreement, (c)
      Executive is entering into this Agreement, including the releases set forth in Section 1, knowingly, freely and voluntarily in exchange for good and valuable consideration and (d) Executive would not be entitled to the benefits described in
      the applicable sections of the Employment Agreement in the absence of this Agreement.

    

    

    8. Revocation.  Executive acknowledges that Executive has been given 21 calendar
      days to consider the terms of this Agreement, although Executive may sign it sooner.  Executive agrees that any modifications, material or otherwise, made to this agreement do not restart or affect in any manner the original 21 calendar day
      consideration period. Executive shall have seven calendar days from the date on which Executive sign this Agreement to revoke Executive’s consent to the terms of this Agreement by providing notice to the Company in accordance with Section 9(a)
      of the Employment Agreement.  Notice of such revocation must be received within the seven calendar days referenced above.  In the event of such revocation by Executive, this Agreement shall not become effective and Executive shall not have any rights
      under Section 5[(b)][c] of the Employment Agreement.  Provided that Executive does not revoke this Agreement within such seven calendar day period, this Agreement shall become effective on the eighth calendar day after the date on which
      Executive signs this Agreement.

    

    

    [Remainder of page is left blank intentionally]

    

    

    
      2

      
        

    

    IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND THEREBY, the parties hereto have executed and delivered this Agreement as of the date written below.

    

    

    
      	
               

            	FTC SOLAR, INC.
	
               

            	
               

            	 	
               

            
	
               

            	
               

            	 	
               

            
	 	By:

            	 	 
	 	 	Name:

            	

            
	 	 	Title:

            	

            
	 	 	 	 
	 	 	 	 
	 	EXECUTIVE
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	[Name]

    

     

    

    [Signature Page to Release Agreement]

    

  

  3Exhibit 10.8

      

      

      

      

      

      
        

    

     

      

     

      

     

      

    REGISTRATION RIGHTS AGREEMENT

     

      

    by and among

    FTC SOLAR, INC.

     

      

    and

     

      

    THE HOLDERS LISTED ON SCHEDULE I HERETO

    

    

    Dated as of [________], 2021

    
       

      

      

      

      

      
        

    

    

    

    

    

    

    

    
      
        

    

    TABLE OF CONTENTS

     

    

    Page

    
      	
              1.

            	
              Definitions and Interpretation

            	
              2

            
	
              2.

            	
              Demand Registration

            	
              7

            
	
              3.

            	
              Shelf Registration

            	
              9

              

            
	
              4.

            	
              Lock-up Agreements

            	
              11

            
	
              5.

            	
              Other Registration Rights

            	
              12

            
	
              6.

            	
              Registration Procedures

            	
              12

            
	
              7.

            	
              Indemnification by the Company

            	
              15

            
	
              8.

            	
              Indemnification by Participating Shareholders

            	
              15

            
	
              9.

            	
              Conduct of Indemnification Proceedings

            	
              16

            
	
              10.

            	
              Survival

            	
              16

              

            
	
              11.

            	
              Contribution

            	
              16

              

            
	
              12.

            	
              Participation in Public Offering

            	
              17

            
	
              13.

            	
              Compliance with Rule 144 and Rule 144A

            	
              17

            
	
              14.

            	
              Selling Expenses

            	
              18

            
	
              15.

            	
              Prohibition on Requests; Holders’ Obligations

            	
              18

            
	
              16.

            	
              Miscellaneous

            	
              19

            

    

    

    

    SCHEDULE I — Holders of Registrable Securities

    ANNEX A — Form of Selling Securityholder Notice, Agreement and Questionnaire

    ANNEX B — Form of Joinder Agreement

    
      
        

    

    
    This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of [________], 2021, by and among FTC Solar, Inc., a Delaware corporation (the “Company”), and the
      persons listed on Schedule I hereto (such persons, in their capacity as holders of Registrable Securities, including any Permitted Transferees hereunder, the “Holders” and each a “Holder” and, the Holders together with the
      Company, the “Parties”).

     

    

    RECITALS

     

    

    WHEREAS, certain of the Holders hold shares of Common Stock and/or Equity Rights that are directly or indirectly convertible into or exercisable or exchangeable for Common Stock; and

     

    

    WHEREAS, the Company desires to enter into this Agreement with the Holders in order to provide the Holders the registration rights described herein.

     

    

    NOW, THEREFORE, in consideration of the foregoing Recitals and the representations, warranties, covenants and agreements set forth in this Agreement, and intending to be legally bound by this
      Agreement, the Parties agree as follows:

     

      

    
      	
              1.

            	
              Definitions and Interpretation.

            

    

     

      

    
      	
              (a)

            	
              Definitions. As used in this Agreement, each of the following capitalized terms has the
                  meaning specified in this Section 1(a).

            

    

     

    

    “Adverse Disclosure” means public disclosure of material non-public information that, in the Board’s good faith judgment, (i) would be required to be made in any
      Registration Statement filed with the SEC by the Company so that such Registration Statement would not be materially misleading; (ii) would not be required to be made at such time but for the filing of such Registration Statement and (iii) the
      Company has a bona fide business purpose for not disclosing publicly.

     

    

    “Affiliate” means, with respect to any Person, any other Person that directly or indirectly Controls, is Controlled by, or is under common Control with, such Person; provided,
      that no shareholder of the Company shall be deemed an Affiliate of any other shareholder solely by reason of any investment in the Company.

     

    

    “Board” means the board of directors of the Company.

     

    

    “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized by Law to close.

     

    

    “Common Stock” means the common stock, par value $0.0001 per share, of the Company and any securities issued in respect thereof, or in substitution therefor, in
      connection with any share split, dividend or combination, or any reclassification, recapitalization, amalgamation, merger, consolidation, scheme of arrangement, exchange or other similar reorganization.

    
      2

      
        

    

    “Company Shares” means the issued and outstanding shares of Common Stock and any shares of Common Stock issuable pursuant to any Equity Rights that are directly or
      indirectly convertible into or exercisable or exchangeable for Common Stock.

     

    

    “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the
      ownership of voting securities, by contract or otherwise, and “Controls” and “Controlled” each has a correlative meaning.

     

    

    “Equity Right” means, with respect to any Person, any security convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or
      acquire, or any options, calls, warrants, restricted stock, restricted stock units, deferred stock awards, stock units, “phantom” awards, dividend equivalents, participations, interests, rights or commitments relating to, or any stock appreciation
      right or other instrument the value of which is determined in whole or in part by reference to the market price or value of, shares of capital stock or earnings of such Person.

     

    

    “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and regulations of the SEC thereunder, as the same
      shall be in effect from time to time.

     

    

    “FINRA” means the Financial Industry Regulatory Authority, Inc., and any successor regulator performing comparable functions.

     

    

    “Governmental Entity” means any foreign, United States federal or state, regional or local legislative, executive or judicial body or agency, any court of competent
      jurisdiction, any department, commission, political subdivision or other governmental entity or instrumentality, or any arbitral authority, in each case, whether domestic or foreign.

     

    

    “IPO” means the completion of the initial public offering of the Company.

     

    

    “Joinder Agreement” means a joinder agreement, a form of which is attached as Annex B to this Agreement.

     

    

    “Judgments” means any judgments, injunctions, orders, stays, decrees, writs, rulings, or awards of any court or other judicial authority or any other Governmental
      Entity.

     

    

    “Law” means all laws (including common law), statutes, ordinances, rules, regulations, orders, decrees or legally-binding guidance of any Governmental Entity, or
      Judgments.

     

    

    “Material Adverse Change” means (i) any general suspension of trading in, or limitation on prices for, securities on any national securities exchange or in the
      over-the-counter market in the United States (other than ordinary course limitations on hours or number of days of trading); (ii) a material outbreak or escalation of armed hostilities or other international or national calamity involving the United
      States or the declaration by the United States of a national emergency or war or a material adverse change in national or international financial, political or economic conditions; or (iii) any event, change, circumstance or effect that is or is
      reasonably likely to be materially adverse to the business, properties, assets, liabilities, condition (financial or otherwise), operations or results of operations of the Company and its Subsidiaries, taken as a whole.

    
      3

      
        

    

    “Notice, Agreement and Questionnaire” means a written notice, agreement and questionnaire substantially in the form of Annex A hereto.

     

    

    “Participating Shareholder” means, with respect to any registration, any Holder of Registrable Securities covered by the applicable Registration Statement.

     

    

    “Permitted Transferee” means any Affiliate of a Holder who has executed a Joinder Agreement.

     

    

    “Person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization,
      governmental entity or any other entity.

     

    

    “Public Offering” means any public offering and sale of equity securities of the Company or its successor for cash pursuant to an effective registration statement (other
      than on Form S-4, Form S-8 or a comparable form) under the Securities Act.

     

    

    “Qualified Shareholder” means any Holder or group of Holders that, together with its respective Affiliates, beneficially owns at least 15% of the Company Shares.

     

    

    “Registrable Securities” means any Company Shares held by a Holder as of the date of this Agreement and any securities issued or issuable in respect of such Company
      Shares or by way of conversion, amalgamation, exchange, share dividend, split or combination, recapitalization, merger, consolidation, other reorganization or otherwise until the earliest to occur of (i) a Registration Statement covering such Company
      Shares has been declared effective by the SEC and such Company Shares have been sold or otherwise disposed of pursuant to such effective Registration Statement, (ii) such Company Shares are otherwise transferred (other than to a Permitted Transferee
      thereof) and the Company has delivered a new certificate or other evidence of ownership for such Company Shares, (iii) such Company Shares are repurchased by the Company or a Subsidiary of the Company or otherwise cease to be outstanding or (iv) such
      Company Shares may be resold pursuant to Rule 144, without regard to volume or manner of sale limitations, whether or not any such sale has occurred, unless such Registrable Securities are held by a Qualified Shareholder.

     

    

    “Registration Expenses” means any and all expenses incident to the performance of or compliance with any registration or marketing of securities, including all (i)
      registration and filing fees, and all other fees and expenses payable in connection with the listing of securities on any securities exchange or automated interdealer quotation system, (ii) fees and expenses of compliance with any securities or “blue
      sky” Laws (including fees and disbursements of one counsel in connection with “blue sky” qualifications of the securities registered), (iii) expenses in connection with the preparation and delivery of any Registration Statements, prospectuses and
      other documents in connection therewith and any amendments or supplements thereto, (iv) internal expenses of the Company (including all salaries and expenses of its officers and employees performing legal or accounting duties), (v) fees and
      disbursements of counsel for the Company and customary fees and expenses for independent certified public accountants retained by the Company (including the expenses relating to any required audits of the financial statements of the Company or any
      comfort letters or costs associated with the delivery by independent certified public accountants of any comfort letters requested pursuant to Section 6(l)), (vi) fees and expenses of any special experts retained by the Company in connection
      with such registration, (vii) reasonable fees and expenses of one counsel for the Holders selected by the Company, (viii) fees and expenses in connection with any review by FINRA of the underwriting arrangements or other terms of the offering, and
      all fees and expenses of any “qualified independent underwriter,” including the fees and expenses of any counsel thereto, but excluding any Selling Expenses, (ix) transfer agents’ and registrars’ fees and expenses and the fees and expenses of any
      other agent or trustee appointed in connection with such offering, (x) expenses relating to any analyst or investor presentations or any “road shows” undertaken in connection with the registration, marketing or selling of the Registrable Securities
      and (xi) all out-of-pocket costs and expenses incurred by the Company or its appropriate officers in connection with their compliance with Section 6(o). For the avoidance of doubt, “Registration Expenses” shall include expenses of the type
      described in clauses (i) through (xi) to the extent incurred in connection with the “take down” of Company Shares pursuant to a Registration Statement previously declared effective. Except as set forth in clause (vii) above,
      Registration Expenses shall not include any out-of-pocket expenses of any Holders (or the agents who manage their accounts) or any Selling Expenses.

    
      4

      
        

    

    “Registration Statement” means any registration statement of the Company that covers Registrable Securities pursuant hereto filed with, or to be filed with, the SEC
      under the rules and regulations promulgated under the Securities Act, including the related prospectus, pre- and post-effective amendments and supplements to such registration statement and all exhibits and all material incorporated by reference in
      such registration statement.

     

    

    “Representatives” means, with respect to any Person, (i) any of such Person’s partners, stockholders, shareholders, members, directors, officers, employees, agents,
      counsel, accountants, trustees, equity financing partners, investment advisors or representatives, and Affiliates advised by such Person, (ii) the partners, stockholders, shareholders, members, directors, officers, employees, agents, counsel,
      accountants, trustees, equity financing partners, investment advisors or representatives of such Persons listed in clause (i), and (iii) any other Person acting on behalf of such Person with respect to the Company and any of its Subsidiaries.

     

    

    “Rule 144” means Rule 144 (or any successor provisions) under the Securities Act.

     

    

    “Rule 144A” means Rule 144A (or any successor provisions) under the Securities Act.

     

    

    “Rule 415” means Rule 415 (or any successor provisions) under the Securities Act.

     

    

    “SEC” means the United States Securities and Exchange Commission and any successor agency performing comparable functions.

     

    

    “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder.

     

    

    “Selling Expenses” means all underwriting discounts, selling commissions and stock or share transfer taxes applicable to the sale of Registrable Securities, and fees and
      disbursements of counsel for any holder of Registrable Securities, except for the reasonable fees and disbursements of one counsel set forth in clause (vii) of the definition of Registration Expenses.

     

    

    “Shelf Registration Statement” means a Registration Statement of the Company filed with the SEC on either (i) Form S-3 (or any successor form or other appropriate form
      under the Securities Act) or a prospectus supplement to an existing Form S-3, or (ii) if the Company is not permitted to file a Registration Statement on Form S-3, an evergreen Registration Statement on Form S-1 (or any successor form or other
      appropriate form under the Securities Act), in each case for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (or any similar rule that may be adopted by the SEC) covering all of the Registrable Securities,
      as applicable, and which may also cover any other securities of the Company.

     

    

    “Subsidiary” means, as to a Person, any corporation, partnership, limited liability company or other organization, whether incorporated or unincorporated, of which at
      least a majority of the securities or other interests having by their terms voting power to elect a majority of the board of directors or others performing similar functions with respect to such corporation or other organization is directly or
      indirectly beneficially owned or controlled by such Person.

     

    

    “Underwritten Offering” means a registration in which Company Shares are sold to an underwriter or underwriters on a firm commitment basis.

    
      5

      
        

    

    
      	
              (b)

            	
              Other Definitions. In addition to the defined terms set forth in Section 1(a), as used in this Agreement, each of the following capitalized terms has the meaning specified in the Section set forth opposite such term below.

            

    

     

        

    	
            Term

          	
            Section

          
	
            Agreement

          	
            Preamble

          
	
            Company

          	
            Preamble

          
	
            Damages

          	
            7(a)

          
	
            Demand Notice

          	
            2(a)(i)

          
	
            Demand Period

          	
            2(d)

          
	
            Demand Registration

          	
            2(a)(i)

          
	
            Demand Suspension

          	
            2(g)

          
	
            Holder

          	
            Preamble

          
	
            Holder Information

          	
            15(b)

          
	
            Indemnified Party

          	
            9

          
	
            Indemnifying Party

          	
            9

          
	
            Inspectors

          	
            6(k)

          
	
            Long-Form Registration

          	
            2(a)(i)

          
	
            Maximum Offering Size

          	
            2(f)

          
	
            Parties

          	
            Preamble

          
	
            Records

          	
            6(k)

          
	
            Requesting Shareholder

          	
            2(a)(i)

          
	
            Shelf Period

          	
            3(b)

          
	
            Shelf Request

          	
            3(a)

          
	
            Shelf Suspension

          	
            3(d)

          
	
            Short-Form Registration

          	
            2(a)(i)

          
	
            Underwritten Requesting Shareholder

          	
            3(e)

          
	
            Underwritten Takedown

          	
            3(e)

          
	
            Underwritten Takedown Notice

          	
            3(e)

          
	
            Underwritten Takedown Request

          	
            3(e)

          

     

    

    
      	
              (c)

            	
              Interpretation.

            

    

     

      

    (i)            When calculating the period of time before which, within which or following which
        any act is to be done or step taken pursuant to this Agreement, (x) the date that is the reference date in calculating such period shall be excluded and (y) if the last day of such period is a not a Business Day, the period in question shall end on
        the next succeeding Business Day.

     

      

    (ii)           When a reference is made herein to a Section, such reference shall be to a
        Section of this Agreement unless otherwise indicated. The table of contents and headings contained herein are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

    
      6

      
        

    

    (iii)          Whenever the words “include,” “includes” or “including” are used herein, they
        shall be deemed to be followed by the words “without limitation.”

     

      

    (iv)          The words “hereof,” “hereto,” “hereby,” “herein” and “hereunder” and words of
        similar import when used herein shall refer to this Agreement as a whole and not to any particular provision of this Agreement.

     

      

    (v)           The word “extent” in the phrase “to the extent” means the degree to which a
        subject or other thing extends, and such phrase shall not mean simply “if.”

     

      

    (vi)          Any law or regulation defined or referred to herein means such law or regulation as
        from time to time amended, modified or supplemented, unless otherwise specifically indicated.

     

      

    (vii)         References to a person are also to its successors and permitted assigns.

     

      

    (viii)        The Annexes to this Agreement are incorporated and made a part hereof and are an
        integral part of this Agreement. Any capitalized term used in any Annex but not otherwise defined therein shall have the meaning given to such term herein.

     

      

    
      	
              2.

            	
              Demand Registration.

            

       

      

    

    
      	
              (a)

            	
              Demand by Qualified Shareholders.

            

    

     

      

    (i)            If, at any time following the IPO, the Company does not otherwise have an
        effective registration statement on Form S-3 covering a Holder’s Registrable Securities on file with the SEC and the Company shall have received a request, subject to Section 15, from any Qualified Shareholder (the “Requesting
          Shareholder”) that the Company effect the registration under the Securities Act of all or any portion of such Requesting Shareholder’s Registrable Securities and stating the intended method of distribution thereof, (x) on Form S-1 or any
        similar long-form Registration Statement (a “Long-Form Registration”) or (y) on Form S-3 or any similar short-form Registration Statement, which shall include a prospectus supplement to an existing Form S-3 (a “Short-Form Registration”)

        if the Company qualifies to use such short-form Registration Statement (any such requested Long-Form Registration or Short-Form Registration, a “Demand Registration”), and specifying the aggregate amount of Registrable Securities to be
        registered and the intended method of disposition thereof, then the Company shall promptly, but in no event later than ten (10) Business Days prior to the effective date of the Registration Statement relating to such Demand Registration, give
        written notice of such request (a “Demand Notice”) to the other Holders, specifying the number of Registrable Securities for which the Requesting Shareholder has requested registration under this Section 2(a) and stating the intended
        method of distribution thereof. During the seven (7) Business Days after receipt of a Demand Notice, all Holders (other than the Requesting Shareholder) may provide a written request to the Company, specifying the aggregate amount of Registrable
        Securities held by such Holders requested to be registered as part of such Demand Registration; provided that, if, on the date of any request by a Qualified Shareholder, the Company qualifies as a well-known seasoned issuer (as defined in
        Rule 405 under the Securities Act) eligible to file an automatic shelf registration statement on Form S-3 pursuant to Section 3 of this Agreement, the provisions of this Section 2 shall not apply, and the provisions of Section 3
        shall apply instead.

     

      

    (ii)           The Company shall file such Registration Statement with the SEC within ninety
        (90) calendar days of such request, in the case of a Long-Form Registration, and thirty (30) calendar days of such request, in the case of a Short-Form Registration, and shall use its reasonable best efforts to cause such Registration Statement to
        be declared effective under the Securities Act and the “blue sky” Laws of such jurisdictions as any Participating Shareholder or any underwriter, if any, reasonably requests, as expeditiously as possible, all to the extent necessary to permit the
        disposition (in accordance with the intended methods thereof) of the Registrable Securities so to be registered.

    
      7

      
        

    

    (iii)          Notwithstanding anything to the contrary in this Section 2(a), (x) the
        Company shall not be obligated to effect more than two (2) Long-Form Registrations over any twelve (12) month period at the request of any Holder, (y) from and after the time the Company becomes eligible for a Short-Form Registration, the Holders
        shall be entitled to effect four (4) Short-Form Registrations per calendar year and (z) the Company shall not be obligated to effect a Demand Registration unless the aggregate proceeds expected to be received from the sale of the Registrable
        Securities requested to be included in such Demand Registration equals or exceeds five million dollars ($5,000,000) if pursuant to a Long-Form Registration, or two million dollars ($2,000,000) if pursuant to a Short-Form Registration.

     

      

    
      	
              (b)

            	
              Demand Withdrawal. A Participating Shareholder may withdraw its Registrable Securities from
                  a Demand Registration prior to three (3) Business Days before the effectiveness of the applicable Registration Statement. Upon receipt of a notice from all of the Participating Shareholders to such effect, the Company shall cease all
                  efforts to secure effectiveness of the applicable Registration Statement, and such registration shall nonetheless be deemed a Demand Registration for purposes of Section 2(a)

                  unless (i) the withdrawing Participating Shareholders shall have paid or reimbursed the Company for their pro rata share of all reasonable and documented out-of-pocket fees and expenses incurred by the Company in connection with the
                  registration of the withdrawing Participating Shareholders’ withdrawn Registrable Securities (based on the number of Registrable Securities such withdrawing Participating Shareholders sought to register, as compared to the total number of
                  Company Shares included on such Registration Statement) or (ii) the withdrawal is made following the occurrence of a Material Adverse Change, because the registration would require the Company to make an Adverse Disclosure or because the
                  Company otherwise requests withdrawal.

            

       

      

    

    
      	
              (c)

            	
              Registration Expenses. The Company shall be liable for and pay all Registration Expenses in
                  connection with any Demand Registration, regardless of whether such registration is effected, subject to reimbursement pursuant to Section 2(b)(i), if applicable.

            

       

      

    

    
      	
              (d)

            	
              Effective Registration. A Demand Registration
                  shall be deemed to have occurred if the Registration Statement relating thereto (i) has become effective under the Securities Act and (ii) has remained effective for a period of at least one hundred eighty (180) calendar days (or such
                  shorter period in which all Registrable Securities of the Participating Shareholders included in such registration have actually been sold thereunder or withdrawn) or, if such Registration Statement relates to an Underwritten Offering,
                  such longer period as, in the opinion of counsel for the underwriter or underwriters, a prospectus is required by Law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer (the applicable period,
                  the “Demand Period”); provided, that a Demand Registration shall not be deemed to have occurred if, (x) during the Demand
                  Period, such Registration Statement is not available for use as a result of any stop order, injunction or other order or requirement of the SEC or other Governmental Entity or court, (y) the conditions to closing specified in the
                  underwriting agreement, if any, entered into in connection with such registration are not satisfied other than by reason of a wrongful act, misrepresentation or breach of such applicable underwriting agreement by any Participating
                  Shareholder or (z) the Maximum Offering Size (as defined below) is reduced in accordance with Section 2(f) such that less than fifty percent (50%) of the Registrable Securities that the Requesting Shareholders sought to be included in such registration are included.

            

       

      

    

    
      	
              (e)

            	
              Underwritten Offerings. If any Participating Shareholder that is a Qualified Shareholder so
                  requests, an offering of Registrable Securities pursuant to a Demand Registration shall be in the form of an Underwritten Offering.

            

       

      

    

    
      	
              (f)

            	
              Priority of Securities Registered Pursuant to Demand Registrations. If the managing underwriter or underwriters of a proposed Underwritten Offering advise the Board (or, in the case of a Demand Registration not being underwritten, the Board determines in its reasonable discretion)
                  that, in its view, the number of Registrable Securities requested to be included in such registration (including any securities that the Company proposes to be included that are not Registrable Securities) exceeds the largest number of
                  shares that can be sold without being likely to have an adverse effect on the price, timing or distribution of the shares offered in such offering (the “Maximum

                    Offering Size”), the Company shall include in such registration, in the priority listed below, up to the Maximum Offering Size:

            

       

      

    

    (i)            first, all Registrable Securities requested to be included in such
        registration by the Requesting Shareholder(s); provided that any Requesting Shareholder may elect to allocate its priority to permit any other holder of Common Stock to register shares in lieu of the same amount of Registrable Securities
        held by such Requesting Shareholder;

    
      8

      
        

    

    (ii)           second, and only if all the securities referred to in clause (i)
        have been included, all Registrable Securities requested to be registered by the other Participating Shareholders (allocated, if necessary for the offering not to exceed the Maximum Offering Size, pro rata among such Participating Shareholders on
        the basis of the relative number of Registrable Securities owned by the Participating Shareholders; provided, that any securities thereby allocated to a Participating Shareholder that exceed such Participating Shareholder’s request shall be
        reallocated among the remaining Participating Shareholders in like manner); and

     

      

    (iii)          third, and only if all the securities referred to in clauses (i)
        and (ii) have been included, any securities proposed to be registered by the Company or any securities proposed to be registered for the account of any other Persons, with such priorities among them as the Company shall determine.

     

      

    
      	
              (g)

            	
              Delay in Filing; Suspension of Registration. If,
                  upon the determination of a majority of the members of the Board, the filing, initial effectiveness or continued use of a Registration Statement in respect of a Demand Registration at any time would require the Company to make an Adverse
                  Disclosure, the Company may, upon giving prompt written notice of such action to the Participating Shareholders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement (a “Demand Suspension”); provided, that (i) the Company shall not be permitted to exercise a Demand Suspension (x) more than four (4) times during
                  any twelve (12) month period or (y) for more than ninety (90) calendar days per Demand Suspension and (ii) such Demand Suspension shall terminate at such time as the Company would no longer be required to make any Adverse Disclosure; and
                provided, further, that in the event of a Demand Suspension, if a Participating Shareholder has not sold any Registrable Securities
                  under such Registration Statement, it shall be entitled to withdraw its Registrable Securities from such Demand Registration and, if all Participating Shareholders so withdraw, such Demand Registration shall not be counted for purposes of
                  the limit on Demand Registrations requested by such Participating Shareholders in Section 2(a). In the case of a Demand Suspension, the Participating Shareholders agree to suspend use of the applicable prospectus and any issuer free writing prospectuses in connection with any
                    sale or purchase of, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Participating Shareholders upon the termination of any Demand Suspension,
                    amend or supplement the prospectus and any issuer free writing prospectus, if necessary, so it does not contain any untrue statement or omit to state a material fact required to be stated therein or necessary to make the statements
                    therein not misleading and furnish to the Participating Shareholders such numbers of copies of the prospectus and any issuer free writing prospectus as so amended or supplemented as the Participating Shareholders may reasonably request.
                    The Company agrees, if necessary, to supplement or make amendments to the applicable Registration Statement if required by the registration form used by the Company for the applicable Demand Registration or by the instructions
                    applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder, or as may reasonably be requested by the Participating Shareholders.

            

    

     

      

    	
            3.

          	
            Shelf Registration.

          

             

    
    
      	
              (a)

            	
              Filing. If, at any time following the IPO, the
                  Company shall have received a request, subject to Section 15, by a Qualified Shareholder (a “Shelf Request”), for the filing of a Shelf
                    Registration Statement pursuant to this Section 3, and at such time the Company is eligible to
                    file a registration statement on Form S-3, the Company shall, within thirty (30) calendar days of such Shelf Request, file with the SEC a Shelf Registration Statement relating to the offer and sale of all Registrable Securities by the
                    Holders from time to time including customary methods of distribution and, as promptly as practicable thereafter, the Company shall use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective
                    under the Securities Act (or if the Company qualifies to do so, it shall file an automatic Shelf Registration Statement in response to any such request). If, on the date of any such Shelf Request, the Company does not qualify to file a
                    Shelf Registration Statement under the Securities Act, the provisions of this Section 3 shall not
                    apply, and the provisions of Section 2 shall apply instead.

            

      
        9

        
          

      

    

    
      	
              (b)

            	
              Continued Effectiveness. The Company shall use
                  its reasonable best efforts to keep such Shelf Registration Statement continuously effective under the Securities Act (including, if necessary, by renewing or refiling a Shelf Registration Statement prior to expiration of the existing
                  Shelf Registration Statement or by filing with the SEC a post-effective amendment or a supplement to the Shelf Registration Statement or any document incorporated therein by reference or by filing any other required document or otherwise
                  supplementing or amending the Shelf Registration Statement, if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act, the
                  Exchange Act, any state securities or blue sky Laws, or any rules and regulations thereunder) in order to permit the prospectus forming a part thereof to be usable by Holders until the earlier of (i) the date as of which all Registrable
                  Securities have been sold pursuant to the Shelf Registration Statement or another Registration Statement filed under the Securities Act (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities Act
                  and Rule 174 thereunder) and (ii) the date as of which each of the Holders is permitted to sell its Registrable Securities without registration pursuant to Rule 144 under the Securities Act without volume limitation or other restrictions
                  on transfer thereunder (such period of effectiveness, the “Shelf Period”).

            

       

      

    

    
      	
              (c)

            	
              Shelf Notice. The Company shall (i) promptly upon receipt of any request to file a Shelf
                  Registration Statement pursuant to Section 3(a) (but in no event more than five (5) Business Days thereafter), deliver a written notice of any such request to all
                  other Holders and (ii) include on such Shelf Registration Statement the aggregate amount of Registrable Securities held by such Holders requested to be registered within ten (10) Business Days of the written notice referred to in clause
                  (i).

            

       

      

    

    
      	
              (d)

            	
              Suspension of Registration. If, upon the determination of a majority of the members of the
                  Board, the continued use of such Shelf Registration Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving at least ten (10) calendar days’ prior written notice of such action to the
                  Holders, suspend use of the Shelf Registration Statement (a “Shelf Suspension”); provided,
                  that (i) the Company shall not be permitted to exercise a Shelf Suspension (x) more than four (4) times during any twelve (12) month period, or (y) for more than ninety (90) calendar days per Shelf Suspension and (ii) such Shelf
                  Suspension shall terminate at such time as the Company would no longer be required to make any Adverse Disclosure. In the case of a Shelf Suspension, the Holders agree to suspend use of the applicable prospectus and any issuer free
                  writing prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Holders upon the termination of
                  any Shelf Suspension, amend or supplement the prospectus and any issuer free writing prospectus, if necessary, so it does not contain any untrue statement or omit to state a material fact required to be stated therein or necessary to make
                  the statements therein not misleading and furnish to the Holders such numbers of copies of the prospectus and any issuer free writing prospectus as so amended or supplemented as the Holders may reasonably request. The Company agrees, if
                  necessary, to supplement or make amendments to the Shelf Registration Statement, if required by the registration form used by the Company for the shelf registration or by the instructions applicable to such registration form or by the
                  Securities Act or the rules or regulations promulgated thereunder or as may reasonably be requested by the Holders.

            

       

      

    

    
      	
              (e)

            	
              Underwritten Takedown. For any offering of Registrable Securities pursuant to a Registration Statement for which the value of Registrable Securities proposed to be offered is at least two
                  million dollars ($2,000,000) and a Registration Statement is effective or has been requested under Section 2(a), any Qualified Shareholder (the “Underwritten Requesting Shareholder”) may elect for an offering to be in the form of an Underwritten Offering, and the Company shall prepare a prospectus or prospectus supplement for such purpose. The Underwritten Requesting Shareholder shall give
                    written notice to the Company of such intention (i) for a Shelf Registration Statement, at least four (4) Business Days prior to the date on which such Underwritten Offering is anticipated to launch, specifying the number of Registrable
                    Securities for which the Underwritten Requesting Shareholder is requesting registration under this Section 3(e) or (ii) for a Demand Registration, at the time of the demand under Section 2(a) and, in each case, the other material terms of such Underwritten Offering (such request, an “Underwritten Takedown Request,” and any Underwritten Offering conducted pursuant thereto, an “Underwritten Takedown”), and the Company shall (i) for a Shelf Registration Statement, one (1) Business Day following the receipt of such Underwritten Takedown Request or (ii) for a Demand Registration, at
                    the time of the demand under Section 2(a), give written notice of such Underwritten Takedown
                    Request (such notice, an “Underwritten Takedown Notice”) to the other Participating Shareholders
                    and such Underwritten Takedown Notice shall offer the other Participating Shareholders the opportunity to include in such Underwritten Takedown the number of Registrable Securities as each such other Participating Shareholder may
                    request in writing. Subject to (i) Section 3(f) and Section 3(g) for a Shelf Registration Statement or (ii) Section 2(b) and Section 2(f) for a Demand Registration,
                    the Company and the Underwritten Requesting Shareholder(s) shall cause the underwriter(s) to include as part of the Underwritten Takedown all Registrable Securities that are requested to be included therein by any of the other
                    Participating Shareholders in writing within (i) two (2) Business Days of delivery of such notice for a Shelf Registration Statement or (ii) seven (7) Business Days after receipt of such notice for a Demand Registration; provided, that all such other Participating Shareholders requesting to participate in the Underwritten Takedown
                    must sell their Registrable Securities to the underwriters on the same terms and conditions as apply to the Underwritten Requesting Shareholder(s); provided, further, that, if at any time after making
                    an Underwritten Takedown Request and prior to the launch of the Underwritten Takedown, the Underwritten Requesting Shareholder(s) shall determine for any reason not to proceed with or to delay such Underwritten Takedown, the
                    Underwritten Requesting Shareholder(s) shall give written notice to the Company of such determination and the Company shall give written notice of the same to each other Participating Shareholder and, thereupon, (x) in the case of a
                    determination not to proceed, the Company and such Underwritten Requesting Shareholder(s) shall be relieved of their respective obligations to cause the underwriter(s) to include any Registrable Securities of the other Participating
                    Shareholders as part of such Underwritten Takedown (but the Company shall not be relieved from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to the other registration rights
                    contained herein, and (y) in the case of a determination to delay such Underwritten Takedown, the Company and such Underwritten Requesting Shareholder(s) shall be relieved of their respective obligations to cause the underwriter(s) to
                    include any Registrable Securities of the other Participating Shareholders as part of such Underwritten Takedown for the same period as the Underwritten Requesting Shareholder(s) determine(s) to delay such Underwritten Takedown.

            

      
        10

        
          

      

    

    (f)          Priority of Securities Registered Pursuant to Underwritten Takedown.
        If the managing underwriter of an Underwritten Takedown advises the Company or the Underwritten Requesting Shareholder(s) that, in its view, the number of Company Shares that the Underwritten Requesting Shareholder(s) and such other Participating
        Shareholders intend to include in such registration exceeds the Maximum Offering Size, the Company and the Underwritten Requesting Shareholder(s) shall cause the underwriter(s) to include in such Underwritten Takedown, in the following priority, up
        to the Maximum Offering Size:

     

      

    
      	
              (i)

            	
              first, all Registrable Securities requested to be included in such registration by the
                  Underwritten Requesting Shareholder(s); provided that any Underwritten Requesting Shareholder may elect to allocate its priority to permit any other holder of Common
                  Stock to register shares in lieu of the same amount of Registrable Securities held by such Underwritten Requesting Shareholder;

            

       

      

    

    
      	
              (ii)

            	
              second, and only if all the securities referred to in clause (i) have been included, all Registrable Securities requested to be registered by the other Participating Shareholders (allocated, if necessary for the offering not to exceed the Maximum Offering
                  Size, pro rata among such Participating Shareholders on the basis of the relative number of Registrable Securities owned by the Participating Shareholders; provided,
                  that any securities thereby allocated to a Participating Shareholder that exceed such Participating Shareholder’s request shall be reallocated among the remaining Participating Shareholders in like manner); and

            

       

      

    

    
      	
              (iii)

            	
              third, and only if all the securities referred to in clauses (i) and (ii) have been included, any securities proposed to be registered by the Company or any securities proposed to be registered for the account of any other Persons, with such priorities
                  among them as the Company shall determine.

            

       

      

    

    (g)          Withdrawal. Each Participating Shareholder shall be permitted to withdraw all
        or part of its Registrable Securities from an Underwritten Takedown at any time prior to 7:00 a.m., New York City time, on the date on the calendar day before which the Underwritten Takedown is anticipated to launch.

     

      

    (h)          Payment of Expenses for Shelf Registrations. The Company shall be liable for
        and pay all Registration Expenses in connection with any shelf registration, regardless of whether such registration is effected.

     

      

    
      	
              4.

            	
              Lock-up Agreements.

            

       

      

    

    
      	
              (a)

            	
              To the extent requested by any lead managing underwriter in connection with each Underwritten Offering, the Company and each Participating Shareholder shall agree not to effect any
                public sale or distribution of any Company Shares or other security of the Company (except as part of such Underwritten Offering) during the period beginning on the date that is no earlier than estimated by the Company, in good faith and
                provided in writing to such Holder, to be the fifteenth (15th) Business Day prior to the effective date of the applicable Registration Statement (or the
                anticipated launch date in the case of a “take-down” off of an already effective Shelf Registration Statement) until the earlier of (i) such time as the Company and any lead managing underwriter shall agree and (ii) one hundred eighty (180)
                calendar days after the effective date of the applicable Registration Statement (or the pricing date in the case of a “take-down” off of an already effective Shelf Registration Statement); provided, that the Company shall cause all
                directors and executive officers of the Company to enter into agreements similar to those contained in this Section 4(a) (without regard to this proviso), subject to exceptions for gifts, sales pursuant to pre-existing 10b5-1 plans
                and other customary exclusions agreed to by any lead managing underwriter; provided further, that any lead managing underwriter may extend such period as necessary to comply with applicable FINRA rules.

            

       

      

    

    
      	
              (b)

            	
              Notwithstanding the foregoing, the Company may effect a public sale or distribution of securities of the type described above and during the periods described above if such sale or
                distribution is made pursuant to registrations on Form S-4 or Form S-8 or any successor form to such forms or as part of any registration of securities for offering and sale to employees or directors of the Company pursuant to any employee
                share plan or other employee benefit plan arrangement and other customary exclusions agreed to by any lead managing underwriter.

            

      
        11

        
          

      

    

    
      	
              5.

            	
              Other Registration Rights.

            

    

     

      

    The Company represents and warrants that it is not a party to, or otherwise subject to, any agreement (other than as provided herein) granting registration rights to any other Person with respect
      to any Company Shares.

     

    

    
      	
              6.

            	
              Registration Procedures.

            

    

     

      

    In connection with any registration pursuant to Section 2 or Section 3, subject to the provisions of such Sections:

     

    

    
      	
              (a)

            	
              Prior to filing a Registration Statement covering Registrable Securities or prospectus or any amendment or supplement thereto, the Company shall furnish to each Participating
                Shareholder and each underwriter, if any, of the Registrable Securities covered by such Registration Statement copies of such Registration Statement as proposed to be filed, and thereafter the Company shall furnish to such Participating
                Shareholder and underwriter, if any, without charge such number of copies of such Registration Statement, each amendment and supplement thereto (in each case including all exhibits thereto and documents incorporated by reference therein),
                the prospectus included in such Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 or Rule 430A under the Securities Act and such other documents as such
                Participating Shareholder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Participating Shareholder. Each Participating Shareholder shall have the right to request
                that the Company modify any information contained in such Registration Statement, amendment and supplement thereto pertaining to such Participating Shareholder upon four (4) Business Days written notice and the Company shall use all
                reasonable efforts to comply with such request; provided, that the Company shall not have any obligation to so modify any information if the Company reasonably expects that so doing would cause the prospectus to contain an 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 not misleading.

            

       

      

    

    
      	
              (b)

            	
              In connection with any filing of any Registration Statement or prospectus or amendment or supplement thereto, the Company shall cause such document (i) to comply in all material
                respects with the requirements of the Securities Act and the rules and regulations of the SEC thereunder and (ii) with respect to information supplied by or on behalf of the Company for inclusion in the Registration Statement, to not
                contain any 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 not misleading.

            

       

      

    

    
      	
              (c)

            	
              The Company shall promptly notify each Holder of such Registrable Securities and the underwriter(s) when a Registration Statement has become effective and when any post-effective
                amendments and supplements thereto become effective.

            

       

      

    

    
      	
              (d)

            	
              The Company shall furnish counsel for each underwriter, if any, and for the Holders of such Registrable Securities with copies of any written comments from the SEC or any state
                securities authority or any written request by the SEC or any state securities authority for amendments or supplements to a Registration Statement or prospectus or for additional information generally.

            

       

      

    

    
      	
              (e)

            	
              After the filing of the Registration Statement, the Company shall (i) cause the related prospectus to be supplemented by any required prospectus supplement, and, as so supplemented, to
                be filed pursuant to Rule 424 under the Securities Act, (ii) comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement during the applicable period
                in accordance with the intended methods of disposition by the Participating Shareholders set forth in such Registration Statement or supplement to such prospectus and (iii) promptly notify each Participating Shareholder holding Registrable
                Securities covered by such Registration Statement of any stop order issued or threatened by the SEC or any state securities commission and use commercially reasonable best efforts to prevent the entry of such stop order or to remove it if
                entered.

            

      
        12

        
          

      

    

    
      	
              (f)

            	
              The Company shall use all reasonable best efforts to (i) register or qualify the Registrable Securities covered by such Registration Statement under such securities or “blue sky” Laws
                of such jurisdictions in the United States as any Participating Shareholder holding such Registrable Securities reasonably (in light of such Participating Shareholder’s intended plan of distribution) requests and (ii) cause such Registrable
                Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably
                necessary or advisable to enable such Participating Shareholder to consummate the disposition of the Registrable Securities owned by such Participating Shareholder, provided, that the Company shall not be required to (x) qualify
                generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 6(f), (y) subject itself to taxation in any such jurisdiction or (z) consent to general service of process in any
                such jurisdiction.

            

       

      

    

    
      	
              (g)

            	
              The Company shall use reasonable best efforts to list such Registrable Securities on the principal securities exchange on which the Company’s Common Stock is then listed and provide a
                transfer agent, registrar and CUSIP number for all such Registrable Securities not later than the effective date of such Registration Statement.

            

       

      

    

    
      	
              (h)

            	
              The Company shall use reasonable best efforts to cooperate with each Participating Shareholder and the underwriter or managing
                  underwriter, if any, to facilitate the timely preparation and delivery of certificates (or its book-entry equivalent) representing Registrable Securities to be sold and not bearing any restrictive legends (including by delivering to the
                  transfer agent a Company instruction letter and a written opinion from counsel to the Company stating unlegended stock certificates (or its book-entry equivalent) may be issued in respect of any
                  Registrable Securities, subject to compliance with the requirements of the Securities Act); and enable such Registrable Securities to be registered in such names as each
                    Participating Shareholder or the underwriter or managing underwriter, if any, may reasonably request in connection with any sale of Registrable Securities.

            

       

      

    

    
      	
              (i)

            	
              The Company shall immediately notify each Participating Shareholder holding such Registrable Securities covered by such Registration Statement, at any time when a prospectus relating
                thereto is required to be delivered under the Securities Act, of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable
                Securities, such prospectus will not contain an 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 not misleading and promptly prepare and make
                available to each such Participating Shareholder and file with the SEC any such supplement or amendment subject to any suspension rights contained herein.

            

       

      

    

    
      	
              (j)

            	
              The Company shall have the right to select an underwriter or underwriters in connection with any underwritten Public Offering resulting from the exercise of a Demand Registration or
                Underwritten Takedown upon consultation with the Underwritten Requesting Shareholder. In connection with any Public Offering, the Company shall enter into customary agreements (including an underwriting agreement in customary form) and take
                all other actions as are reasonably required and customary in order to expedite or facilitate the disposition of such Registrable Securities in any such Public Offering, including the engagement of a “qualified independent underwriter” in
                connection with the qualification of the underwriting arrangements with FINRA.

            

      
        13

        
          

      

    

    
      	
              (k)

            	
              Upon execution of confidentiality agreements or other similar arrangements in form and substance reasonably satisfactory to the Company,
                  the Company shall make available during regular business hours for inspection by any underwriter participating in any disposition pursuant to a Registration Statement being filed by the Company pursuant to this Section 6 and any attorney, accountant or other professional
                    retained by a Participating Shareholder or underwriter (collectively, the “Inspectors”), all
                    financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”) as shall be reasonably necessary or desirable to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably
                    requested by any Inspectors in connection with such Registration Statement (including by participation in a reasonable number of diligence calls). Records that the Company determines, in good faith, to be confidential and that it
                    notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement or (ii) the release
                    of such Records is required pursuant to applicable Law or regulation or judicial process. Each Participating Shareholder agrees that information obtained by it as a result of such inspections shall be deemed confidential and shall not
                    be used by it or its Affiliates as the basis for any market transactions in any Company Shares unless and until such information is made generally available to the public. Each Participating Shareholder further agrees that, upon
                    learning that disclosure of such Records is sought in a court of competent jurisdiction, it shall give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the Records
                    deemed confidential.

            

       

      

    

    
      	
              (l)

            	
              In connection with an Underwritten Offering, the Company shall use commercially reasonable efforts to furnish to each underwriter a signed counterpart, addressed to such underwriter(s),
                of (i) an opinion or opinions of counsel to the Company and (ii) a comfort letter or comfort letters from the Company’s independent certified public accountants, each in customary form and covering such matters of the kind customarily
                covered by opinions or comfort letters, as the case may be, as the managing underwriter therefor reasonably requests.

            

       

      

    

    
      	
              (m)

            	
              In connection with an Underwritten Offering, the Company shall have appropriate officers of the Company (i) prepare and make presentations at any “road shows” and before analysts, (ii)
                otherwise use their commercially reasonable efforts to cooperate as reasonably requested by the underwriters in the offering, marketing or selling of the Registrable Securities, including, by executing customary underwriting agreements and
                (iii) otherwise use their commercially reasonable efforts to cooperate as reasonably requested by the Holders in the marketing of the Registrable Securities.

            

       

      

    

    
      	
              (n)

            	
              The Company shall take all commercially reasonable actions to ensure that any free-writing prospectus utilized in connection with any Demand Registration, Underwritten Takedown or other
                offering off of a Shelf Registration Statement hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities
                Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the
                circumstances under which they were made, not misleading.

            

       

      

    

    
      	
              (o)

            	
              The Company shall otherwise use all commercially reasonable efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon
                as reasonably practicable, an earnings statement or such other document that shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

            

       

      

    

    
      	
              (p)

            	
              The Company may require each such Participating Shareholder promptly to furnish in writing to the Company the Notice, Agreement and Questionnaire and such other information regarding
                the distribution of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be legally required or the Company may deem reasonably advisable in connection with such registration
                and shall not have any obligation to include a Participating Shareholder on any Registration Statement if the Notice, Agreement and Questionnaire or such other information is not promptly provided; provided, that, prior to excluding
                such Participating Shareholder on the basis of its failure to provide the Notice, Agreement and Questionnaire or such other information, the Company must furnish in writing a notice to such Participating Shareholder requesting the Notice,
                Agreement and Questionnaire and such other information at least three (3) calendar days prior to filing the applicable Registration Statement or prospectus supplement for an Underwritten Offering.

            

      
        14

        
          

      

    

    
      	
              7.

            	
              Indemnification by the Company.

            

       

      

    

    
      	
              (a)

            	
              The Company agrees to indemnify and hold harmless each Participating Shareholder holding Registrable Securities covered by a Registration
                  Statement, each member, trustee, limited or general partner thereof, each member, trustee, limited or general partner of each such member, limited or general partner, each of their respective Affiliates, officers, directors, stockholders,
                  shareholders, employees, advisors and agents, each Person, if any, who controls such Person within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act and each of their Representatives from and against any
                  and all losses, claims, damages, liabilities and expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses) (“Damages”) caused by or relating to (i) any untrue statement or alleged untrue statement of a material fact contained in (x) any Registration Statement or prospectus relating to
                  the Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), any preliminary prospectus or any “issuer free writing prospectus” (as defined in Rule 433 of the
                  Securities Act) or (y) any application or other document or communication executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify any
                  securities covered by such registration under the securities Laws thereof, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or
                  (iii) any violation or alleged violation by the Company of the Securities Act or any other similar federal or state securities Laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action or
                  inaction required of the Company in connection with any such registration, qualification or compliance, except in all cases insofar as such Damages are caused by or related to any such untrue statement or omission or alleged untrue
                  statement or omission so made based upon or contained in any information furnished in writing to the Company by such Participating Shareholder expressly for use therein or by such Participating Shareholder’s failure to deliver a copy of
                  the prospectus, the issuer free writing prospectus or any amendments or supplements thereto after the Company has furnished such Participating Shareholder with a sufficient number of copies of the same.

            

       

      

    

    
      	
              (b)

            	
              The Company also agrees to indemnify any underwriters of the Registrable Securities, their officers and directors and each Person who controls such underwriters within the meaning of
                Section 15 of the Securities Act or Section 20 of the Exchange Act on substantially the same basis as that of the indemnification of the Participating Shareholders provided in this Section 7 or otherwise on commercially reasonable
                terms negotiated on an arm’s length basis with such underwriters.

            

       

      

    

    
      	
              8.

            	
              Indemnification by Participating Shareholders.

            

    

     

      

    Each Participating Shareholder holding Registrable Securities included in any Registration Statement agrees, severally but not jointly, to indemnify and hold harmless the Company, its officers,
      directors and agents and each Person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity from the Company contained in Section 7(a)(i)
      and Section 7(a)(ii) to such Participating Shareholder, but only with respect to information furnished in writing by such Participating Shareholder or on such Participating Shareholder’s behalf expressly for use in any Registration
      Statement or prospectus relating to the Registrable Securities, or any amendment or supplement thereto, any preliminary prospectus or any issuer free writing prospectus. Each such Participating Shareholder also agrees to indemnify and hold harmless
      any underwriters of the Registrable Securities, their officers and directors and each Person who controls such underwriters within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act on substantially the same
      basis as that of the indemnification of the Company provided in this Section 8. As a condition to including Registrable Securities in any Registration Statement filed in accordance herewith, the Company may require that it shall have received
      an undertaking reasonably satisfactory to it from any underwriter to indemnify and hold it harmless to the extent customarily provided by underwriters with respect to similar securities. No Participating Shareholder shall be liable under this Section 8
      for any Damages in excess of the gross proceeds realized by such Participating Shareholder in the sale of Registrable Securities of such Participating Shareholder to which such Damages relate.

    

    
      15

      
        

    

    
      	
              9.

            	
              Conduct of Indemnification Proceedings.

            

    

     

      

    If any proceeding (including any governmental investigation) shall be instituted involving any Person in respect of which indemnity may be sought pursuant to Section 7 or Section 8,

      such Person (an “Indemnified Party”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Party”) in writing and the Indemnifying Party may, at its option, assume the defense thereof, including
      the employment of counsel reasonably satisfactory to such Indemnified Party, and shall assume the payment of all fees and expenses; provided, that the failure of any Indemnified Party to so notify the Indemnifying Party shall not relieve the
      Indemnifying Party of its obligations hereunder except to the extent and only to the extent that the Indemnifying Party is materially prejudiced by such failure to notify. In any such proceeding, any Indemnified Party shall have the right to retain
      its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed in writing to the retention of such counsel, (ii) the
      Indemnifying Party shall have failed to assume the defense of such claim or to employ counsel reasonably satisfactory to the Indemnified Party, or (iii) in the reasonable judgment of such Indemnified Party representation of both parties by the same
      counsel would be inappropriate due to actual or potential differing interests between them. It is understood that, in connection with any proceeding or related proceedings in the same jurisdiction, the Indemnifying Party shall not be liable for the
      reasonable fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time for all such Indemnified Parties, and that all such fees and expenses shall be reimbursed as they are incurred. In the case of any
      such separate firm for the Indemnified Parties, such firm shall be designated in writing by the Indemnified Parties. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled
      with such consent, or if there be a final judgment for the plaintiff, the Indemnifying Party shall indemnify and hold harmless such Indemnified Parties from and against any loss or liability (to the extent stated above) by reason of such settlement
      or judgment. Without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed), no Indemnifying Party shall effect any settlement of any pending or threatened proceeding in respect of which any
      Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such
      proceeding.

     

    

    
      	
              10.

            	
              Survival.

            

    

     

      

    Subject to a Holder delivering a properly completed (as solely determined by the Company), executed and acknowledged Notice, Agreement and Questionnaire to the Company, Section 7, Section 8,

      Section 9 and Section 11 hereto will remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Party or any officer, director or controlling Person of such Indemnified Party and will
      survive the transfer of securities.

     

    

    
      	
              11.

            	
              Contribution.

            

       

      

    

    
      	
              (a)

            	
              If the indemnification provided for herein is unavailable to the Indemnified Parties in respect of any Damages, then each such Indemnifying Party, in lieu of indemnifying such
                Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Damages (i) as between the Company and the Participating Shareholders holding Registrable Securities covered by a Registration
                Statement on the one hand and the underwriters on the other, in such proportion as is appropriate to reflect the relative benefits received by the Company and such Participating Shareholders on the one hand and the underwriters on the
                other, from the offering of the Registrable Securities, or if such allocation is not permitted by applicable Law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the Company and
                such Participating Shareholders on the one hand and of such underwriters on the other in connection with the statements or omissions that resulted in such Damages, as well as any other relevant equitable considerations, and (ii) as between
                the Company on the one hand and each Participating Shareholder on the other, in such proportion as is appropriate to reflect the relative fault of the Company and of each Participating Shareholder in connection with such statements or
                omissions, as well as any other relevant equitable considerations. The relative benefits received by the Company and Participating Shareholders on the one hand and such underwriters on the other shall be deemed to be in the same proportion
                as the total proceeds from the offering (net of underwriting discounts and commissions but before deducting expenses) received by the Company and Participating Shareholders bear to the total underwriting discounts and commissions received
                by such underwriters, in each case as set forth in the table on the cover page of the applicable prospectus. The relative fault of the Company and Participating Shareholders on the one hand and of such underwriters on the other shall be
                determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and Participating
                Shareholders or by such underwriters. The relative fault of the Company on the one hand and of each Participating Shareholder on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue
                statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or
                prevent such statement or omission.

            

      
        16

        
          

      

    

    
      	
              (b)

            	
              The Company and the Participating Shareholders agree that it would not be just and equitable if contribution pursuant to this Section 11 were determined by pro rata allocation
                (even if the underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or
                payable by an Indemnified Party as a result of the Damages referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such
                Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 11, no Participating Shareholder shall be required to contribute any amount for Damages in
                excess of the gross proceeds realized by Participating Shareholder in the sale of Registrable Securities of Participating Shareholder to which such Damages relate. No Person guilty of fraudulent misrepresentation (within the meaning of
                Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. Each Participating Shareholder’s obligation to contribute pursuant to this Section 11 is
                several in the proportion that the net proceeds of the offering received by Participating Shareholder bears to the total net proceeds of the offering received by all such Participating Shareholders and not joint.

            

       

      

    

    
      	
              12.

            	
              Participation in Public Offering.

            

       

      

    

    
      	
              (a)

            	
              No Person may participate in any Public Offering hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved
                by the Persons entitled hereunder to approve such arrangements (provided, that no Holder of Registrable Securities will be required to sell more than the number of Registrable Securities that such Holder has requested the Company
                include in any Registration Statement) and (ii) completes, executes and delivers or causes to be delivered all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents and instruments reasonably required
                under the terms of such underwriting arrangements and the provisions set forth herein in respect of registration rights.

            

       

      

    

    
      	
              (b)

            	
              Each Person that is participating in any registration hereunder agrees that, upon receipt of any notice from the Company of the occurrence of any event of the kind described in Section 6(i)

                above, such Person shall immediately discontinue the disposition of its Registrable Securities pursuant to the Registration Statement until such Person’s receipt of the copies of a supplemented or amended prospectus as contemplated by Section 6(i),

                and, if so directed by the Company, such Person shall deliver to the Company all copies, other than any permanent file copies then in such Person’s possession, of the most recent prospectus covering such Registrable Securities at the time
                of receipt of such notice. In the event the Company has given any such notice, the applicable time period during which a Registration Statement is to remain effective shall be extended (provided, that the Company shall not cause any
                Registration Statement to remain effective beyond the latest date allowed by applicable Law) by the number of days during the period from and including the date of the giving of such notice pursuant to Section 6(i) to and including
                the date when each Holder of Registrable Securities covered by such Registration Statement shall have received the copies of the supplemented or amended prospectus contemplated by Section 6(i).

            

       

      

    

    
      	
              13.

            	
              Compliance with Rule 144 and Rule 144A.

            

    

     

      

    
      	
              (a)

            	
              The Company shall file any reports required to be filed by it under the Securities Act and the Exchange Act, and it will take such further action as any Holder may reasonably request
                (including making available adequate current public information with respect to the Company meeting the current public information requirements of Rule 144(c)), to the extent required to enable such Holder to sell Registrable Securities
                without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. Notwithstanding the foregoing, nothing in this Section 13 shall be deemed to require the Company to register any of its
                securities pursuant to the Exchange Act.

            

      
        17

        
          

      

    

    
      	
              (b)

            	
              At the request of any Holder who proposes to sell any Registrable Securities in compliance with Rule 144, the Company shall use reasonable best efforts to (i) cooperate with such Holder in connection with such sale and (ii) furnish, subject to compliance with the
                  requirements of the Securities Act, to the Company’s transfer agent an instruction letter and an opinion of counsel stating that unlegended stock certificates (or its book-entry equivalent) may be issued in respect of such Registrable Securities.

            

       

      

    

    
      	
              (c)

            	
              Unless the Company is subject to Section 13 or 15(d) of the Exchange Act, the Company will provide to the Holder of Registrable Securities and to any prospective purchaser of
                Registrable Securities under Rule 144A, the information described in Rule 144A(d)(4).

            

       

      

    

    
      	
              14.

            	
              Selling Expenses.

            

    

     

      

    All Selling Expenses relating to the offer and sale of Registrable Securities registered under the Securities Act or sold in any Underwritten Takedown pursuant to this Agreement shall be borne
      and paid by the Holders of such Registrable Securities, in proportion to the number of Registrable Securities included in such Registration Statement or sold in any Underwritten Takedown for each such Holder.

     

    

    
      	
              15.

            	
              Prohibition on Requests; Holders’ Obligations.

            

    

     

      

    
      	
              (a)

            	
              No Holder shall, without the Company’s consent, be entitled to deliver a request for a Demand Registration, a Shelf Request or an Underwritten Takedown if less than sixty (60) calendar
                days have elapsed since (i) the effective date of a prior Registration Statement (which shall include the filing of a final prospectus supplement to an already effective Shelf Registration Statement) in connection with a Demand Registration
                or Shelf Request or (ii) the date of withdrawal by the Participating Shareholders of a Demand Registration or Underwritten Takedown; provided, in each case, that such Holder has been provided with an opportunity to participate in
                the prior offering and either (x) has refused or not promptly accepted such opportunity or (y) has not been cut back to less than 50% of the Registrable Securities requested to be included by such Holder.

            

       

      

    

    
      	
              (b)

            	
              No Holder of Registrable Securities shall be entitled to sell any of such Registrable Securities pursuant to this Agreement, unless such
                  Holder has timely furnished the Company with all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not misleading and any other information regarding such Holder and
                  the distribution of such Registrable Securities as the Company may from time to time reasonably request pursuant to Section 6(p). Any sale of any Registrable Securities by any Holder shall constitute a representation and warranty by such Holder that the information of such
                    Holder furnished in writing by or on behalf of such Holder, including in such Holder’s Notice, Agreement and Questionnaire (all such information, “Holder Information”), to the Company does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements in such Holder Information, in the
                    light of the circumstances under which they were made, not misleading. Furthermore, if the Company is required to file a subsequent Registration Statement upon expiration of effectiveness of the Registration Statement naming a Holder,
                    the Company shall be under no obligation to include such Holder as a selling securityholder if such Holder does not timely deliver an updated properly completed (as solely determined by the Company), executed and acknowledged Notice,
                    Agreement and Questionnaire and other information upon request by the Company therefore pursuant to Section 6(p).

            

      
        18

        
          

      

    

    
      	
              16.

            	
              Miscellaneous.

            

       

      

    

    
      	
              (a)

            	
              Remedies; Specific Performance.

            

       

      

    

    (i)            Except as otherwise provided herein, any and all remedies herein expressly
        conferred upon a Party shall be deemed cumulative with and not exclusive of any other remedy conferred by this Agreement, or by law or equity upon such Party, and the exercise by a Party of any one remedy shall not preclude the exercise of any
        other remedy.

     

      

    (ii)           The Parties acknowledge and agree that irreparable damage would occur in the
        event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly
        agreed that, at any time prior to the termination of this Agreement pursuant to Section 16(j), the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the performance
        of terms and provisions of this Agreement in any court referred to in Section 16(g), without proof of actual damages (and each Party waives any requirement for the securing or posting of any bond in connection with such remedy), this being
        in addition to any other remedy to which they are entitled at law or in equity. The Parties further agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to law or inequitable for any reason, and not to
        assert that a remedy of monetary damages would provide an adequate remedy for any such breach.

     

      

    
      	
              (b)

            	
              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, without the written consent of the Company and the Holders holding a majority of the Registrable
                  Securities (as calculated in Section 16(d)); provided that this Agreement may be amended and restated or amended without consent of the Holders solely to allow for
                  the addition of new Holders and the granting to such new Holders rights hereunder and any additional rights after the date hereof that does not adversely affect or is not inconsistent with the existing rights and priorities of the Holders
                  (other than by virtue of adding a Person with additional similar rights and Company Shares). 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 Holders of Registrable Securities whose securities are being sold pursuant to a Shelf Registration Statement and that does not directly or indirectly affect the rights of other Holders of Registrable Securities may be given by
                  each Holder of the Registrable Securities being sold by such Holders pursuant to such Shelf Registration Statement; provided, however, that the provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the immediately preceding sentence. Each Holder of Registrable
                  Securities outstanding at the time of any such amendment, modification, supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or consent effected pursuant to this Section 16(b), whether or not any notice, writing or marking indicating such amendment, modification, supplement, waiver or consent appears on the Registrable Securities
                  or is delivered to such Holder.

            

      
        19

        
          

      

    

    
      	
              (c)

            	
              Notices. Any notice, request, instruction or other document to be given hereunder by any
                  Party to the others shall be in writing and shall be deemed duly given (i) on the date of delivery, if delivered personally; (ii) on the date sent, if sent by email; (iii) on the first (1st) Business Day following the date of dispatch, if delivered utilizing a next-day service by a recognized next-day courier; or (iv) on the earlier of confirmed receipt or the fifth (5th) Business Day following the date of mailing, if delivered by registered or certified mail, return receipt requested, postage prepaid. All notices hereunder
                  shall be delivered to the addresses set forth below, or pursuant to such other instructions as may be designated in writing by the Party to receive such notice:

            

       

      

    

    (i)          if to the Company, to:

     

    

    FTC Solar, Inc.

    9020 N Capital of Texas Hwy, Suite I-260

    Austin, Texas 78759

    
      	
              

              

            	
              Email:

            	
              jwolf@ftcsolar.com

            

    

    
      	 	
              Attn:

            	
              General Counsel

            

    

     

    

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

     

    

    Skadden, Arps, Slate, Meagher & Flom LLP

      One Manhattan West

      New York, New York 10001

    
      	 	
              Email:

            	
              andrea.nicolas@skadden.com

            

    

    
      	 	
              Attn:

            	
              Andrea L. Nicolás, Esq.

            

    

     

      

    (ii)           if to a Holder, at the address on Schedule I hereto or in a more current
        Notice, Agreement and Questionnaire or any amendment thereto or, at the Company’s option, pursuant to the Legal Notice System on DTC, or successor system thereto;

        

      

    or to such other address as such Person may have furnished to the other Persons identified in this Section 16(c) in writing in accordance herewith.

     

    

    
      	
              (d)

            	
              Majority of Registrable Securities. For purposes of determining what constitutes Holders of
                  a majority of Registrable Securities, as referred to in this Agreement, a majority shall constitute a majority of the shares of Company Shares that constitute Registrable Securities (assuming conversion or exercise of all Equity Rights at
                  the five (5) day average market price of any five (5) days chosen by the Company from the twenty (20) Business Days preceding the date of such amendment or waiver).

            

      
        20

        
          

      

    

    
      	
              (e)

            	
              Assignability; Third-Party Rights. Neither this
                  Agreement nor any of the rights, interests or obligations under this Agreement may be assigned, in whole or in part, by operation of law or otherwise, by any Party, and any such assignment shall be null and void, except for any assignment
                  (i) by a Holder to a Permitted Transferee who executes a Joinder Agreement to the extent provided in the Joinder Agreement and any such assignment permitted hereunder shall be effected hereunder only
                  by giving written notice thereof from both the transferor and the transferee to the Company or (ii) with the prior written consent of the Company, with respect to an assignment by
                    a Holder, or the Holders of a majority of Registrable Securities, with respect to an assignment by the Company. This Agreement shall be binding upon, and shall be enforceable by and inure to the benefit of, the Parties and their
                    respective successors and assigns. Nothing in this Agreement is intended to or shall confer upon any Person (other than the Parties) any right, benefit or remedy of any
                    nature whatsoever.

            

       

      

    

    
      	
              (f)

            	
              Counterparts; Electronic Signature. This Agreement may be executed in counterparts (each of
                  which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement) and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the
                  other Parties. This Agreement may be executed by facsimile, by any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act, or other applicable
                  law, e.g., www.docusign.com or by .pdf signature by any Party and such signature shall be deemed binding for all purposes hereof without delivery of an original signature being thereafter required.

            

       

      

    

    
      	
              (g)

            	
              Governing Law and Venue; Jurisdiction; WAIVER OF JURY TRIAL.

            

       

      

    

    (i)            This Agreement and any transaction
        contemplated by this Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to conflict of laws principles that would result in the application of any other law than the laws of the State of
        New York (other than Section 5-1401 of the General Obligations Law).

     

      

    (ii)           EACH PARTY HEREBY IRREVOCABLY WAIVES, TO
        THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     

      

    
      	
              (h)

            	
              Severability. Any term or provision of this Agreement that is invalid or unenforceable in
                  any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other
                  jurisdiction.

            

       

      

    

    
      	
              (i)

            	
              Entire Agreement. This Agreement is intended by the Parties as a final expression of their
                  agreement and is intended to be a complete and exclusive statement of the agreement and understanding of the Parties in respect of the subject matter contained herein and the registration rights granted by the Company with respect to the
                  Registrable Securities. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein, with respect to the registration rights granted by the Company with respect to the Registrable
                  Securities. This Agreement supersedes all prior agreements and undertakings among the Parties with respect to such registration rights. No Party shall have any rights, duties or obligations other than those specifically set forth in this
                  Agreement.

            

       

      

    

    
      	
              (j)

            	
              Termination. This Agreement and the obligations of the Parties hereunder shall terminate
                  upon the earlier of such time as there are no Registrable Securities or three (3) years from the date of this Agreement, except for the provisions of Sections 2(c),
                  3(h), 7, 8, 9, 10, 11, 14, 16(g) and this 16(j), which shall survive such termination.

            

       

      

    

    [Signature Page Follows]

    
      21

      
        

    

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

     

    

    	 	
            COMPANY:

          
	 	 
	 	
            FTC SOLAR, INC.

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          	 
	 	 	
            Title:

          	 

     

    

    
      [Signature Page to Registration Rights
          Agreement]

    

    
      
        

    

    	 	
            HOLDER:

          
	 	 
	 	
            [__________]

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          	 
	 	 	
            Title:

          	 

     

    

    
      [Signature Page to Registration Rights
          Agreement]

    

    
      
        

    

    SCHEDULE I

     

      

    HOLDERS OF REGISTRABLE SECURITIES

    

    

    	
            Legal Name

          	
            Mailing Address

          	
            Email

          	
            Phone

          
	
            ARC Family Trust

          	 	 	 
	
            David Springer

          	 	 	 
	
            Catherine L. Springer

          	 	 	 
	
            South Lake One LLC

          	 	 	 
	
            Rodgers Massey Revocable Living Trust dated 4/4/11

          	 	 	 
	
            ChristSivam, LLC

          	 	 	 
	
            DS 2021 GRAT

          	 	 	 
	
            Tony Etnyre 2021 GRAT

          	 	 	 
	
            Etnyre 2021 Family Trust

          	 	 	 
	
            Anthony P. Etnyre

          	 	 	 
	
            Aaron Vernon

          	 	 	 
	
            Ahmad Chatila

          	 	 	 
	
            Scott Williams

          	 	 	 
	
            Patrick M. Cook

          	 	 	 
	
            Jay B. Grover

          	 	 	 
	
            Isidoro Quiroga Cortés

          	 	 	 
	
            Ali Mortazavi

          	 	 	 
	
            Jacob D. Wolf

          	 	 	 
	
            Nagendra Cherukupalli

          	 	 	 
	
            Kristian Nolde

          	 	 	 
	
            Mitchell Bowman

          	 	 	 
	
            Andrew Morse

          	 	 	 
	
            Kirk Hayes

          	 	 	 
	
            TCV 2021 Trust

          	 	 	 
	
            Dale Herron

          	 	 	 
	
            KC 2021 Trust

          	 	 	 
	
            Thurman J. “T.J.” Rodgers

          	 	 	 
	
            William Aldeen (“Dean”) Priddy, Jr.

          	 	 	 
	
            Lisan Hung

          	 	 	 
	
            Jeremy Avenier

          	 	 	 
	
            Patrick Cook 2021 Trust

          	 	 	 
	
            Cook 2021 Family Trust

          	 	 	 
	
            Vernon 2021 Family Trust

          	 	 	 
	
            Deepak Navnith

          	 	 	 
	
            Tamara Mullings

          	 	 	 
	
            Shaker Sadasivam

          	 	 	 

    

    

    
      
        

    

    ANNEX A

     

      

    FORM OF SELLING SECURITYHOLDER NOTICE, AGREEMENT AND QUESTIONNAIRE

     

      

    The undersigned (the “Selling Securityholder”) beneficial owner of common stock, par value $0.0001 (the “Common Stock”), of FTC Solar, Inc. (the “Company”)

      understands that the Company intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement or a prospectus supplement or amendment to an existing shelf registration statement (as applicable, the “Registration

        Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of certain Registrable Securities in accordance with the terms of the Registration Rights Agreement, dated on or
      about [________], 2021 (the “Registration Rights Agreement”), by and among the Company and the persons listed on Schedule I thereto. Each capitalized term not otherwise defined herein has the meaning given to it in the Registration
      Rights Agreement.

     

    

    In order to sell or otherwise dispose of any Registrable Securities pursuant to the Registration Statement, the Selling Securityholder must be named as a selling
      securityholder in the related prospectus and deliver a prospectus to the purchasers of Registrable Securities. To facilitate naming of the Selling Securityholder as a selling securityholder in the Registration Statement, the Selling Securityholder
      must complete, execute, acknowledge and deliver this Notice, Agreement and Questionnaire prior to filing of the Registration Statement.

    Certain legal consequences arise from being named as Selling Securityholders in the Registration Statement and the related prospectus. Accordingly, the Selling Securityholder
      is advised to consult its own legal counsel regarding the consequences of being named or not being named as a Selling Securityholder in the Registration Statement and the related prospectus.

     

    

    (a)          The Selling Securityholder hereby gives notice to the Company of its intention to
        sell or otherwise dispose of Registrable Securities beneficially owned by it and listed below in Item 3(b) pursuant to the Registration Statement. The Selling Securityholder, by signing and returning this Notice, Agreement and Questionnaire,
        understands that it shall be bound by the terms and conditions of this Notice, Agreement and Questionnaire.

    
      
        

    

    (b)          The Selling Securityholder hereby provides the following information to the
        Company and represents and warrants that such information is accurate and complete:

     

      

    Questionnaire

     

    

    
      	
              1.

            	
              (a)

            	
              Full Legal Name of Selling Securityholder:

            
	 	 	 
	 	 	 
	 	 	 
	
              

              

            	
              (b)

            	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities listed in Item (3) below are held: 

            
	 	 	 
	 	 	 
	 	 	 
	
              

              

            	
              (c)

            	Full Legal Name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item (3) below are held: 

            
	 	 	 
	 	 	 

    

    

    

    
      	
              2.

            	
              Address for Notices to Selling Securityholder:

            	 
	 	 	 
	 	 	 

      

      	 	
              Telephone:

            	 

      
        	 	
                Fax:

              	 

      

      	 	
              Email Address:

            	 

    

    	 	
            Contact Person:

          	 

    
      
        

    

    	3.	
            Beneficial Ownership of Registrable Securities:

          

     

    

    This Item (3) covers beneficial ownership of the Company’s securities. Please consult Appendix A to this Notice, Agreement and Questionnaire for
      information as to the meaning of “beneficial ownership.” Except as set forth below in this Item (3), the Selling Securityholder does not beneficially own any Registrable Securities.

     

    

    	

          	(a)	
            Number of shares of Registrable Securities beneficially owned:

          

     

    

    	

          	(b)	
            Number of shares of the Registrable Securities which the Selling Securityholder wishes to be included in the Registration Statement:

          

     

    

    	4.	
            Beneficial Ownership of other securities of the Company owned by the Selling Securityholder.

          

     

    

    Except as set forth below in this Item (4), the Selling Securityholder is not the beneficial or registered owner of any securities of the Company other
      than the Registrable Securities listed above in Item (3).

     

    

    
      	 	
              (a)

            	
              Type and amount of other securities beneficially owned by the Selling Securityholder:

            
	 	 	 
	 	 	 

    

     

    

    	 	
            (b)

          	
            CUSIP No(s). of other securities beneficially owned by the Selling Securityholder:

          
	 	 	 
	 	 	 

    
      
        

    

    	5.	
            Relationship with the Company:

          

     

    

    	

          	(a)	
            Have you or any of your affiliates, officers, directors or principal equity holders (owners of 5% or more of the equity securities of the Selling Securityholder) held any position or
              office or have you had any other material relationship with the Company (or its predecessors or affiliates) within the past three years?

          

    

    

    
      	
              ❑

            	
              Yes

            

       

      

    

    
      	
              ❑

            	
              No

            

       

      

      
        	 	
                (b)

              	
                If so, please state the nature and duration of your relationship with the Company:

              
	 	 	 
	 	 	 

      

    

    

    

    	6.	
            Broker-Dealer Status:

          

     

    

    	

          	(a)	
            Is the Selling Securityholder a broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)?

          

    

    

    
      	
              ❑

            	
              Yes

            

       

      

    

    
      	
              ❑

            	
              No

            

    

     

    

    Note that the Company shall be required to identify any registered broker-dealer as an underwriter in the prospectus.

     

    

    If so, please answer the remaining questions in this section.

     

    

    If the Selling Securityholder is a registered broker-dealer, please indicate whether the Selling Securityholder acquired its Registrable Securities for
      investment or acquired them as transaction-based compensation for investment banking or similar services.

    _________________________________________________________________

    _________________________________________________________________

     

    

    If the Selling Securityholder is a registered broker-dealer and received its Registrable Securities other than as transaction-based compensation, the
      Company is required to identify you as an underwriter in the Registration Statement and related prospectus.

    _________________________________________________________________

    _________________________________________________________________

    
      
        

    

    	

          	(b)	
            Affiliation with Broker-Dealers:

          

     

    

    Is the Selling Securityholder an affiliate of a registered broker-dealer? For purposes of this Item 6(b), an “affiliate” of a specified person or
      entity means a person or entity that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person or entity specified.

    

    

    
      	
              ❑

            	
              Yes

            

       

      

    

    
      	
              ❑

            	
              No

            

       

      

    

    If so, please answer the remaining questions in this section:

      

    

    	

          	(i)	
            Please describe the affiliation between the Selling Securityholder and any registered broker-dealers:

          

    ____________________________________________________________

    ____________________________________________________________

     

    

    	

          	(ii)	
            If the Selling Securityholder, at the time of its acquisition of the Registrable Securities, had any agreements or understandings, directly or indirectly, with any person to distribute
              the Registrable Securities, please describe such agreements or understandings:

          

    ____________________________________________________________

    ____________________________________________________________

     

    

    Note that if the Selling Securityholder is an affiliate of a broker-dealer and at the time of the acquisition of the Registrable
      Securities had any agreements or understandings, directly or indirectly, to distribute the securities, the Company must identify the Selling Securityholder as an underwriter in the prospectus.

    
      
        

    

    	7.	
            Nature of Beneficial Holding. The purpose of this question is to identify the ultimate natural person(s) or publicly held entity that exercise(s) sole or shared voting or dispositive
              power over the Registrable Securities.

          

     

    

    	

          	(a)	
            Is the Selling Securityholder required to file, or is it a wholly-owned subsidiary of a company that is required to file, periodic and other reports (for example, Forms 10-K, 10-Q and
              8-K) with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act?

          

    

    

    
      	
              ❑

            	
              Yes

            

       

      

    

    
      	
              ❑

            	
              No

            

       

      

    

    	

          	(b)	
            State whether the Selling Securityholder is an investment company, or a subsidiary of an investment company, registered under the Investment Company Act of 1940, as amended:

          

    

    

    
      	
              ❑

            	
              Yes

            

       

      

    

    
      	
              ❑

            	
              No

            

       

      

    

    	

          	(c)	
            If a subsidiary, please identify the publicly held parent entity:

          

    _________________________________________________________________

    _________________________________________________________________

     

    

    If you answered “No” to questions (a) and (b) above, please identify the controlling person(s) of the Selling Securityholder (the “Controlling
        Entity”). If the Controlling Entity is not a natural person or a publicly held entity, please identify each controlling person(s) of such Controlling Entity. This process should be repeated until you reach natural persons or a publicly held
      entity that exercise sole or shared voting or dispositive power over the Registrable Securities:

    ______________________________________________________________________

    ______________________________________________________________________

    

      ***PLEASE NOTE THAT THE SEC REQUIRES THAT THESE NATURAL PERSONS BE NAMED IN THE PROSPECTUS***

     

    

    If you need more space for this response, please attach additional sheets of paper. Please be sure to indicate your name and the number of the item being
      responded to on each such additional sheet of paper, and to sign each such additional sheet of paper before attaching it to this Notice, Agreement and Questionnaire. Please note that you may be asked to answer additional questions depending on your
      responses to the above questions.

    
      
        

    

    
      	
              8.

            	
              Plan of Distribution:

            

    

     

    

    Except as set forth below, the Selling Securityholder (including its donees or pledgees) intends to distribute the Registrable Securities listed above in
      Item (3) pursuant to the Registration Statement only as follows (if at all): such Registrable Securities may be sold from time to time directly by the Selling Securityholder or alternatively through underwriters, broker-dealers or agents. If the
      Registrable Securities are sold through underwriters, broker-dealers or agents, the Selling Securityholder shall be responsible for underwriting discounts or commissions or agent’s commissions. Such Registrable Securities may be sold in one or more
      transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i)
      on any national securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in
      the over-the-counter market or (iv) through the writing of options. The Selling Securityholder may pledge or grant a security interest in some or all of the Registrable Securities owned by it and, if it defaults in the performance of its secured
      obligations, the pledgees or secured parties may offer and sell the Registrable Securities from time to time pursuant to the prospectus. The Selling Securityholder also may transfer and donate shares in other circumstances in which certain cases the
      transferees, donees, pledgees or other successors in interest shall be the Selling Securityholder for purposes of the prospectus.

    State any exceptions here:

    _________________________________________________________________

    _________________________________________________________________

     

      

    Note: In no event may such method(s) of distribution take the form of
        an underwritten offering of the Registrable Securities without the prior agreement of the Company.

     

      

    (c)          The Selling Securityholder acknowledges that it understands its obligation to
        comply with the provisions of the Exchange Act and the rules thereunder relating to stock manipulation, particularly Regulation M thereunder (or any successor rules or regulations), in connection with any offering of Registrable Securities pursuant
        to the Registration Statement. The Selling Securityholder agrees that neither it nor any person acting on its behalf shall engage in any transaction in violation of such provisions.

     

      

    (d)         In accordance with the Selling Securityholder’s obligation under the Registration
        Rights Agreement to provide such information as may be required by law for inclusion in the Registration Statement, the Selling Securityholder agrees to provide any additional information the Company may reasonably request and to promptly notify
        the Company of any inaccuracies or changes in the information provided that may occur at any time while the Registration Statement remains effective. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing
        by hand-delivery, first-class mail, or air courier guaranteeing overnight delivery as follows:

     

    

    To the Company :

    

    

    FTC Solar, Inc.

    9020 N Capital of Texas Hwy, Suite I-260

    Austin, Texas 78759

    
      	
              

              

            	
              Email:

            	
              jwolf@ftcsolar.com

            

    

    
      	
              

              

            	
              Attn:

            	
              General Counsel

            

    

    
      
        

    

    (e)          In the event any Selling Securityholder transfers all or any portion of the
        Registrable Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder shall notify the transferee(s) at the time of transfer of its rights and obligations under this Notice,
        Agreement and Questionnaire and the Registration Rights Agreement.

     

      

    (f)          By signing this Notice, Agreement and Questionnaire, the Selling Securityholder
        consents to the disclosure of the information contained herein in its answers to Items (1) through (8) above and the inclusion of such information in the Registration Statement, the related prospectus or prospectus supplement and any state
        securities or Blue Sky applications. The Selling Securityholder understands that such information shall be relied upon by the Company without independent investigation or inquiry in connection with the preparation or amendment of the Registration
        Statement, the related prospectus or prospectus supplement and any state securities or Blue Sky applications.

     

      

    (g)         Once this Notice, Agreement and Questionnaire is executed by the Selling
        Securityholder and received and acknowledged by the Company, the terms of this Notice, Agreement and Questionnaire and the representations and warranties contained herein shall be binding on, shall inure to the benefit of, and shall be enforceable
        by the respective successors, heirs, personal representatives and assigns of the Company and the Selling Securityholder with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above. This
        Notice, Agreement and Questionnaire shall be governed by, and construed in accordance with, the laws of the State of New York without regard to the conflicts-of-laws provisions thereof.

     

      

    (h)       This Notice, Agreement and Questionnaire may be executed by facsimile, by any
        electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act, or other applicable law, e.g., www.docusign.com or by .pdf
        signature by any party and such signature shall be deemed binding for all purposes hereof without delivery of an original signature being thereafter required.

     

    

    [Signature Page Follows]

    
      
        

    

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

     

    

    Dated:

     

    

    	 	
            Selling Securityholder:

          
	 	 	 
	 	
            By:          

          	

          
	 	
            

            

          	Name: 

          	 
	 	
            

            

          	Title: 

          	 

    

    

    Please return the completed and executed Notice, Agreement and Questionnaire to:

    FTC Solar, Inc.

    9020 N Capital of Texas Hwy, Suite I-260

    Austin, Texas 78759

    Email:          jwolf@ftcsolar.com

    Attn:          General Counsel

    

    

    The Company hereby acknowledges that it has received and read and understands this Notice, Agreement and Questionnaire and agrees to be bound by the obligations and terms
      contained herein.

     

    

    	 	
            FTC Solar, Inc.:

          
	 	 
	 	
            By:          

          	

          
	 	
            

            

          	Name: 

          	 
	 	
            

            

          	Title: 

          	 

    

    

    
      [Signature Page to Selling Securityholder Notice, Agreement
          And Questionnaire]

    

    
      
        

    

    Appendix A

     

    

    DEFINITION OF “BENEFICIAL OWNERSHIP”

    

    

    	1.	
            A “Beneficial Owner” of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares:

          

     

    

    (a) Voting power which includes the power to vote, or to direct the voting of, such security; and/or

     

    

    (b) Investment power which includes the power to dispose, or direct the disposition of, such security.

      

    

    Please note that either voting power or investment power, or both, is sufficient for you to be considered the beneficial owner of shares.

     

    

    	2.	
            Any person who, directly or indirectly, creates or uses a trust, proxy, power of attorney, pooling arrangement or any other contract, arrangement or device with the purpose or effect of
              divesting such person of beneficial ownership of a security or preventing the vesting of such beneficial ownership as part of a plan or scheme to evade the reporting requirements of the federal securities acts shall be deemed to be the
              beneficial owner of such security.

          

     

    

    	3.	
            Notwithstanding the provisions of paragraph (1), a person is deemed to be the “beneficial owner” of a security if that person has the right to acquire beneficial ownership of such
              security within 60 days, including but not limited to any right to acquire: (a) through the exercise of any option, warrant or right; (b) through the conversion of a security; (c) pursuant to the power to revoke a trust, discretionary account
              or similar arrangement; or (d) pursuant to the automatic termination of a trust, discretionary account or similar arrangement; provided, however, any person who acquires a security or power specified in (a), (b) or (c) above,
              with the purpose or effect of changing or influencing the control of the issuer, or in connection with or as a participant in any transaction having such purpose or effect, immediately upon such acquisition shall be deemed to be the
              beneficial owner of the securities which may be acquired through the exercise or conversion of such security or power.

          

    
      
        

    

    ANNEX B

     

      

    FORM OF JOINDER AGREEMENT

     

      

    This JOINDER AGREEMENT (“Joinder”), dated [________], is executed by [________] (the “Transferee”) and by [________] (the “Transferor”) pursuant to the
      terms of the Registration Rights Agreement, dated as of [__], 2021 (the “Registration Rights Agreement”), by and among FTC Solar, Inc., a Delaware corporation (the “Company”), and the Holders party thereto. Capitalized terms used but
      not otherwise defined herein have the meanings set forth in the Registration Rights Agreement.

     

    

    
      	
              1.

            	
              Acknowledgment. Transferee and Transferor each acknowledge that
                  Transferee is acquiring Common Stock of the Company from Transferor, upon the terms and subject to the conditions of the Registration Rights Agreement.

            

       

      

    

    
      	
              2.

            	
              Assignment. Transferor hereby assigns all of its rights under the
                  Registration Rights Agreement to Transferee.

            

       

      

    

    Transferor and Transferee each confirm that Transferee is a Permitted Transferee and that Transferor and Transferee have each provided notice of this
      assignment to the Company pursuant to Section 16(e) of the Registration Rights Agreement.

     

    

    
      	
              3.

            	
              Agreement. Transferee agrees that it shall be fully bound by and
                  subject to the terms of the Registration Rights Agreement and the terms of this Joinder.

            

       

      

    

    
      	
              4.

            	
              Notice. Any notice required or permitted by the Registration Rights
                  Agreement shall be given to Transferee at the address listed beside Transferee’s signature below.

            

       

      

    

    
      	
              5.

            	
              Electronic Signature. This Joinder may be executed by facsimile, by any
                  electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act, or other applicable law, e.g., www.docusign.com or by .pdf signature by any party and such signature shall be deemed binding for all purposes hereof without delivery of an original signature being thereafter required.

            

    

     

    

    [SIGNATURE PAGE FOLLOWS]

    
      
        

    

    	 	
            TRANSFEROR

          
	 	 
	 	
            [________________________________]

          
	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 
	 	 	 
	 	
            TRANSFEREE

          
	 	 
	 	
            [________________________________]

          
	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

     

    

    	 	
            Legal Name

          	 
	 	
            Mailing Address

          	 
	 	
            Email

          	 
	 	
            Phone

          	 
	 	 	 
	 	Information for Notices:	 

    

    

    
      [Signature Page to Joinder Agreement to Registration Rights
          Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]