Document:

Exhibit 4.2

 

 

 

 

 

Inpixon

 

and

 

Computershare Inc.

and

Computershare Trust Company, N.A., jointly
as

Warrant Agent

 

 

 

Warrant Agency Agreement

 

Dated as of January 14, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

WARRANT AGENCY AGREEMENT

 

WARRANT AGENCY AGREEMENT,
dated as of January 14, 2019 (“Agreement”), by and among Inpixon, a Nevada corporation (the “Company”),
Computershare Inc., a Delaware corporation (“Computershare”), and its wholly-owned subsidiary, Computershare
Trust Company, N.A., a federally chartered trust company (together with Computershare, the “Warrant Agent”).

 

W I T N E S S E T H

 

WHEREAS, the Company
is engaged in a public rights offering (the “Offering”) pursuant to which the Company has distributed, at no
charge, non-transferable subscription rights to purchase units (the “Units”) to each of the Company’s
holders of common stock (the “Common Stock”), holders of Series 4 Convertible Preferred Stock and to certain
of the Company’s warrant holders pursuant to an effective registration statement on Form S-3 (File No. 333-223960) (the “Registration
Statement”);

 

WHEREAS, the Units
consist of shares of Series 5 Convertible Preferred Stock (the “Preferred Stock”) and warrants (collectively,
the “Warrants”) to purchase shares of Common Stock, and the Company wishes to issue the Warrants in book entry
form entitling the respective holders of the Warrants to purchase an aggregate of up to 3,600,000 shares of Common Stock upon the
terms and subject to the conditions hereinafter set forth;

 

WHEREAS, the Preferred
Stock and Warrants to be issued in connection with the Offering shall be immediately separable and will be issued separately, but
will be purchased together in the Offering; and

 

WHEREAS, the Company
wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance,
registration, transfer, exchange, exercise and replacement of the Warrants and, in the Warrant Agent’s capacity as the Company’s
transfer agent, the delivery of the Warrant Shares (as defined below).

 

NOW, THEREFORE, in
consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Certain
Definitions. For purposes of this Agreement, the following terms have the meanings indicated:

 

(a)
“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday
in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other
governmental action to close.

 

(b)
“Close of Business” on any given date means 5:00 p.m., New York City time, on such date; provided,
however, that if such date is not a Business Day it means 5:00 p.m., New York City time, on the next succeeding Business
Day.

 

(c)
“Person” means an individual, corporation, association, partnership, limited liability company, joint
venture, trust, unincorporated organization, government or political subdivision thereof or governmental agency or other entity.

 

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(d)
“Warrant Certificate” means a certificate issued to a Holder (as defined below), representing such number
of Warrant Shares as is indicated therein in the form of Exhibit 1 to this Agreement.

 

(e)
“Warrant Shares” means the shares of Common Stock underlying the Warrants and issuable upon exercise
of the Warrants.

 

All other capitalized
terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant.

 

Section 2. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express
terms and conditions hereof, and the Warrant Agent hereby accepts such appointment. The Company may from time to time appoint a
Co-Warrant Agent as it may, in its sole discretion, deem necessary or desirable upon ten (10) calendar days’ prior written
notice to the Warrant Agent. The Warrant Agent shall have no duty to supervise, and will in no event be liable for the acts or
omissions of, any co-Warrant Agent. In the event the Company appoints one or more co-Warrant Agents, the respective duties of the
Warrant Agent and any co-Warrant Agent shall be delineated by the Company as the Company reasonably determines, provided that such
duties and determination are consistent with the terms and provisions of this Agreement and that contemporaneously with such appointment,
if any, the Company shall notify the Warrant Agent in writing thereof.

 

Section 3. Global
Warrants.

 

(a)
The Warrants shall be initially issuable in book-entry form. Unless otherwise instructed by the Company, all of the Warrants
shall initially be represented by one or more book-entry form Warrants (the “Global Warrants”) deposited with
the Warrant Agent and registered in the name of Cede & Co., a nominee of The Depository Trust Company (the “Depositary”),
or as otherwise directed by the Depositary. Ownership of beneficial interests in the Warrants shall be shown on, and the transfer
of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Global Warrant or
(ii) institutions that have accounts with the Depositary (such institution, with respect to a Warrant in its account, a “Participant”).

 

(b)
If the Depositary subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may
instruct the Warrant Agent in writing regarding other arrangements for book-entry settlement. In the event that the Warrants are
not eligible for, or it is no longer necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide
written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall
instruct the Warrant Agent in writing to deliver to each Holder a Warrant Certificate.

 

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(c)
A Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant
Certificate Request Notice (as defined below). Upon written notice by a Holder to the Warrant Agent for the exchange of some or
all of such Holder’s Global Warrants for a Warrant Certificate evidencing the same number of Warrants, which request shall
be in the form attached hereto as Annex A (a “Warrant Certificate Request Notice” and the date of delivery
of such Warrant Certificate Request Notice by the Holder, the “Warrant Certificate Request Notice Date” and
the deemed surrender upon delivery by the Holder of a number of Global Warrants for the same number of Warrants evidenced by a
Warrant Certificate, a “Warrant Exchange”), the Warrant Agent shall promptly effect the Warrant Exchange and
shall promptly issue and deliver to the Holder a Warrant Certificate for such number of Warrants in the name set forth in the Warrant
Certificate Request Notice. Such Warrant Certificate shall be dated the original issue date of the Warrants and shall be executed
by an authorized signatory of the Company. In connection with a Warrant Exchange, the Company agrees to deliver, or to direct the
Warrant Agent to deliver, the Warrant Certificate to the Holder within three (3) Business Days of the Warrant Certificate Request
Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (“Warrant Certificate Delivery
Date”). If the Company fails for any reason to deliver to the Holder the Warrant Certificate subject to the Warrant Certificate
Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and
not as a penalty, for each $1,000 of Warrant Shares evidenced by such Warrant Certificate (based on the VWAP (as defined in the
Warrant) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day (increasing to $20 per Business
Day on the fifth Business Day after such liquidated damages begin to accrue) for each Business Day after such Warrant Certificate
Delivery Date until such Warrant Certificate is delivered or, prior to delivery of such Warrant Certificate, the Holder rescinds
such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice,
the Holder shall be deemed to be the holder of the Warrant Certificate and, notwithstanding anything to the contrary set forth
herein, the Warrant Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants evidenced
by such Warrant Certificate and the terms of this Agreement (other than Section 3(c), which shall not apply to the Warrants evidenced
by a Warrant Certificate). The Warrant Agent shall have no responsibility for any liquidated damages that may be payable or paid
to any Person under this paragraph for any failure by the Warrant Agent to deliver to the Holder the Warrant Certificate, on the
Company’s behalf. In addition, the Company shall indemnify and hold harmless the Warrant Agent against all claims made against
the Warrant Agent for any such failure except that the Company shall not be obligated to provide any such indemnification if it
is determined by a final, non-appealable judgment of a court of competent jurisdiction that such failure is due to the Warrant
Agent’s gross negligence, bad faith or willful misconduct.

 

(d)
The Company shall provide an opinion of counsel upon the consummation of the Offering to set up a reserve of Warrant Shares
for the outstanding Warrants. The opinion shall state that all Warrants or Warrant Shares, as applicable, are: “registered
under the Securities Act of 1933, as amended (the “1933 Act”), or are exempt from such registration, and all
appropriate state securities law filings have been made with respect to the warrants or shares or alternatively, that the securities
are “covered securities” under Section 18 of the 1933 Act; and validly issued, fully paid and non-assessable.”

 

Section 4. Form
of Warrant. The Warrants, together with the form of election to purchase Common Stock (the “Exercise Notice”)
and the form of assignment to be printed on the reverse thereof, whether a Warrant Certificate or a Global Warrant, shall be substantially
in the form of Exhibit 1 hereto.

 

Section 5. Countersignature
and Registration. The Warrant Certificates shall be executed on behalf of the Company by its Chief Executive Officer or Principal
Financial Officer, either manually or by facsimile signature. The Warrant Certificates shall be countersigned by the Warrant Agent
either manually or by facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of
the Company who shall have signed a Warrant Certificate shall cease to be such officer of the Company before countersignature by
the Warrant Agent and issuance and delivery by the Company, such Warrant Certificate, nevertheless, may be countersigned by the
Warrant Agent, issued and delivered with the same force and effect as though the person who signed such Warrant Certificate had
not ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by any person
who, at the actual date of the execution of such Warrant Certificate, shall be a proper officer of the Company to sign such Warrant
Certificate, although at the date of the execution of this Agreement any such person was not such an officer.

 

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The Warrant Agent will
keep or cause to be kept, at one of its offices, or at the office of one of its agents, books for registration of original issuance
and the registration of transfer of the Warrants issued hereunder (the “Warrant Register”). Such books shall
show the names and addresses of the respective holders of the Warrants (the “Holders” which term shall include
transferees, successors and assignees under the terms hereunder and, if the Warrants are held in “street name,” a Participant),
the number of Warrant Shares evidenced by each Global Warrant or on the face of each Warrant Certificate and the date of each of
such Warrant Certificate or Global Warrant. Any Person in whose name ownership of a beneficial interest in the Warrants evidenced
by a Global Warrant is recorded in the records maintained by the Depository or its nominee shall be deemed the “beneficial
owner” thereof, provided that all such beneficial interests shall be held through a Participant, which shall be the registered
holder of such Warrants.

 

Prior to due presentment
for registration of transfer of any Warrant Certificate, the Warrant Agent may deem and treat the Person in whose name that Warrant
shall be registered on the Warrant Register as the absolute owner of such Warrant for purposes of any exercise thereof, and for
all other purposes. The Warrant Agent shall not be affected by any notice to the contrary. Notwithstanding the foregoing, nothing
herein shall prevent the Warrant Agent or any agent of the Warrant Agent from giving effect to any written certification, proxy
or other authorization furnished by the Depository governing the exercise of the rights of a holder of a beneficial interest in
any Warrant. The rights of beneficial owners in a Warrant evidenced by the Global Warrant shall be exercised by the Holder or a
Participant through the Depository’s system, except to the extent expressly set forth herein.

 

Section 6. Transfer,
Split Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. Subject
to the provisions of the Warrant and the last sentence of this first paragraph of Section 6 and subject to applicable law, rules
or regulations, or any “stop transfer” instructions the Company may give to the Warrant Agent in writing, at any time
after the closing date of the Offering, and at or prior to the Close of Business on the Termination Date, any Warrant Certificate
or Warrant Certificates may be transferred, split up, combined or exchanged for another Warrant Certificate or Warrant Certificates,
entitling the Holder to purchase a like number of shares of Common Stock as the Warrant Certificate or Warrant Certificates surrendered
then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any Warrant Certificate shall
make such request in writing delivered to the Warrant Agent, and shall surrender the Warrant Certificate or Warrant Certificates
to be transferred, split up, combined or exchanged at the office of the Warrant Agent designated for such purposes. Any requested
transfer of Warrants represented by a Warrant Certificate, shall be accompanied by reasonable evidence of authority of the party
making such request that may be required by the Warrant Agent including but not limited to, the signature guarantee of a guarantor
institution which is a participant in a signature guarantee program approved by the Securities Transfer Association. Thereupon
the Warrant Agent shall, subject to the last sentence of this first paragraph of Section 6, countersign and deliver to the Person
entitled thereto any Warrant Certificate as so requested. The Company may require payment from the Holder of a sum sufficient to
cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of
Warrants. The Warrant Agent shall not have any duty or obligation to take any action under any section of this Agreement that requires
the payment of taxes and/or charges unless and until it is satisfied that all such payments have been made.

 

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Upon receipt by the
Warrant Agent of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate,
which evidence shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof
remaining, and, in case of loss, theft or destruction, of indemnity in customary form and amount satisfactory to the Warrant Agent,
and satisfaction of any other reasonable requirements established by Section 104.8405 of Nevada Revised Statutes, and reimbursement
to the Company and the Warrant Agent of all reasonable expenses incidental thereto, and upon surrender to the Warrant Agent and
cancellation of the Warrant Certificate if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor
to the Warrant Agent for delivery to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated. Notwithstanding
anything herein to the contrary, in connection with a Warrant in book entry or electronic form held through the Depositary, no
posting of a bond shall be required under this Section 6.

 

Section 7. Exercise
of Warrants; Exercise Price; Termination Date.

 

(a)
The Warrants shall be exercisable commencing on the Initial Exercise Date. The Warrants shall cease to be exercisable and
shall terminate and become void, and all rights thereunder and under this Agreement shall cease, at or prior to the Close of Business
on the Termination Date. Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant may exercise the Warrant in
whole or in part upon providing the items required by Section 7(c) below to the Warrant Agent at the office of the Warrant Agent
designated for such purposes or to the office of one of its agents as may be designated by the Warrant Agent from time to time.
In the case of the Holder of a Warrant Certificate, the Holder shall deliver the executed Exercise Notice and payment of the Exercise
Price pursuant to Section 2(a) of the Warrant. Notwithstanding any other provision in this Agreement, a holder whose interest in
a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established
clearing corporation performing similar functions and subject to registration under the Securities Exchange Act of 1934, as amended),
shall effect exercises by delivering to the Depositary (or such other clearing corporation, as applicable) the appropriate instruction
form for exercise, complying with the procedures to effect exercise that are required by the Depositary (or such other clearing
corporation, as applicable). The Company acknowledges that the bank accounts maintained by the Warrant Agent in connection with
the services provided under this Agreement will be in Computershare’s name, as agent for the Company, and that the Warrant
Agent may receive investment earnings in connection with the investment at Warrant Agent risk and for its benefit of funds (the
“Funds”) held in those accounts from time to time. Until paid pursuant to the terms of this Agreement, Computershare
will hold the Funds through such accounts in: deposit accounts of commercial banks with Tier 1 capital exceeding $1 billion or
with an average rating above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and
Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.).  Computershare shall have no
responsibility or liability for any diminution of the Funds that may result from any deposit made by Computershare in accordance
with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. 
Computershare may from time to time receive interest, dividends or other earnings in connection with such deposits.  Computershare
shall not be obligated to pay such interest, dividends or earnings to the Company, any holder or any other party.

 

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(b)
Upon receipt of an Exercise Notice for a cashless exercise pursuant to Section 2(c) of the Warrant (each, a “Cashless
Exercise”), the Warrant Agent will promptly notify the Company and the Company will promptly calculate and transmit to
the Warrant Agent the number of Warrant Shares issuable in connection with such Cashless Exercise and deliver a copy of the Exercise
Notice to the Warrant Agent, which shall issue such number of Warrant Shares in connection with such Cashless Exercise. The Warrant
Agent shall have no obligation under this Agreement to calculate, the number of shares of Common Stock to be issued on a Cashless
Exercise, which will be determined by the Company (with written notice thereof to the Warrant Agent) using the formula set forth
in Section 2(c) of the Warrant.  The Warrant Agent shall have no duty or obligation to investigate or confirm whether the
Company’s determination of the number of shares of Common Stock to be issued on such exercise, pursuant to Section 2(c) of
the Warrant, is accurate or correct.

 

(c)
Upon the Warrant Agent’s receipt, at or prior to the Close of Business on the Termination Date set forth in a Warrant,
of the executed Exercise Notice, accompanied by payment of the Exercise Price pursuant to Section 2(a) of the Warrant, the shares
to be purchased (other than in the case of a Cashless Exercise), an amount equal to any applicable tax, governmental charge or
expense reimbursement referred to in Section 6 by wire transfer or cashier’s check drawn on a United States bank payable
to the order of the Company and, in the case of an exercise of a Warrant in the form of a Warrant Certificate for all of the Warrant
Shares represented thereby, the Warrant Certificate, accompanied by such other documentation as the Warrant Agent may reasonably
request, the Warrant Agent shall cause the Warrant Shares underlying such Warrant to be delivered to or upon the order of the Holder
of such Warrant, registered in such name or names as may be designated by such Holder, no later than the Warrant Share Delivery
Date. If the Company is then a participant in the DWAC system of the Depositary and either (A) there is an effective registration
statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being
exercised via Cashless Exercise, then the Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the
account of the Holder’s broker with the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes
obligated to pay any amounts to any Holders pursuant to Section 2(d)(i) or 2(d)(iv) of the Warrant, such obligation shall be solely
that of the Company and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except
in the case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the
aggregate Exercise Price of the Warrant Shares to be purchased upon exercise of such Holder’s Warrant as set forth in Section
7(a) hereof, the Warrant Agent will not be obligated to deliver certificates representing any such Warrant Shares (via DWAC or
otherwise) until following receipt of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by
one day for each day (or part thereof) until such payment is delivered to the Warrant Agent. For purposes of clarity, the Company
and Warrant Agent acknowledge and agree that, with respect to the terms of the Warrants, the Warrant Certificate or Global Warrant
shall set forth the terms of the Warrants and, in the event of any conflict between the Warrant Certificate or the Global Warrant
and this Agreement, the Warrant Certificate or the Global Warrant shall control; provided, however, that all provisions with respect
to the rights, duties, obligations, protections, immunities and liability of the Warrant Agent only shall be determined and interpreted
solely by the provisions of this Agreement and, except as related to the rights, duties, obligations, protections, immunities and
liability of the Warrant Agent, no provision of this Agreement shall affect or limit the obligations of the Company under the Warrant
in respect of any other Person.

 

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(d)
The Warrant Agent shall deposit all funds received by it in payment of the Exercise Price for all Warrants in the account
of the Company maintained with the Warrant Agent for such purpose and shall advise the Company via telephone at the end of each
day on which funds for the exercise of any Warrant are received of the amount so deposited to its account. The Warrant Agent shall
promptly confirm such telephonic advice to the Company in writing.

 

(e)
In case the Holder of any Warrant Certificate exercises fewer than all Warrants evidenced thereby and surrenders such Warrant
Certificate in connection with such partial exercise, a new Warrant Certificate evidencing the number of Warrant Shares equivalent
to the number of Warrant Shares remaining unexercised may be issued by the Warrant Agent to the Holder of such Warrant Certificate
or to his duly authorized assigns in accordance with Section 2(d)(ii) of the Warrant, subject to the provisions of Section 6 hereof.

 

(f)  
In the event of a cash exercise, the Company hereby instructs the Warrant Agent to record cost basis for newly issued shares
in a manner to be subsequently communicated by the Company in writing to the Warrant Agent. In the event of a Cashless Exercise,
the Company shall provide cost basis for shares issued pursuant to a Cashless Exercise at the time the Company confirms the number
of Warrant Shares issuable in connection with the Cashless Exercise to the Warrant Agent pursuant to Section 7(a) hereof.

 

Section 8. Cancellation
and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer, split
up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for
cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates
shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement or the Warrants. The Company
shall deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other
Warrant Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver
all canceled Warrant Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Warrant
Certificates, and in such case shall deliver a certificate of destruction thereof to the Company, subject to any applicable law,
rule or regulation requiring the Warrant Agent to retain such canceled certificates.

 

Section 9. Certain
Representations; Reservation and Availability of Shares of Common Stock or Cash.

 

(a)
This Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution
and delivery hereof by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against
the Company in accordance with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming
due registration thereof by the Warrant Agent pursuant hereto and payment therefor by the Holders as provided in the Registration
Statement, constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their
terms and entitled to the benefits thereof; in each case except as enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally or by general equitable principles
(regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

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(b)
As of the date hereof and prior to the Offering, the authorized capital stock of the Company consists of (i) 250,000,000
shares of Common Stock, of which 1,581,880 shares of Common Stock are issued and outstanding, and (ii) 4,999,999 shares of undesignated
preferred stock, par value $0.001 per share, and 1 share of which is designated Series 4 Convertible Preferred Stock, 1 share of
which is issued and outstanding. As of the date hereof, 3,600,000 shares of Common Stock are reserved for issuance upon exercise
of the Warrants.  Except as disclosed in the Registration Statement, there are no other outstanding obligations, warrants,
options or other rights to subscribe for or purchase from the Company any class of capital stock of the Company.

 

(c)
The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued
shares of Common Stock or its authorized and issued shares of Common Stock held in its treasury, free from preemptive rights, the
number of shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants.

 

(d)
[Intentionally Omitted].

 

(e)
The Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes
and charges which may be payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing
Common Stock upon exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which
may be payable in respect of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery
of certificates for Common Stock in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered
for exercise or to issue or deliver or cause to be issued or delivered, any certificate for shares of Common Stock upon the exercise
of any Warrants until any such tax or governmental charge shall have been paid (any such tax or governmental charge being payable
by the Holder of such Warrant Certificate at the time of surrender) or until it has been established to the Company’s or
the Warrant Agent’s reasonable satisfaction that no such tax or governmental charge is due.

 

Section 10. Common
Stock Record Date. Each Holder shall be deemed to have become the holder of record for the Warrant Shares pursuant to Section
2(d)(i) of the Warrants.

 

Section 11. Adjustment
of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the number of shares
covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in Section
3 of the Warrant (“Adjustment Events”). In the event that at any time, as a result of an adjustment made pursuant
to Section 3 of the Warrant, the Holder of any Warrant thereafter exercised shall become entitled to receive any shares of capital
stock of the Company other than shares of Common Stock, thereafter the number of such other shares so receivable upon exercise
of any Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to
the provisions with respect to the shares contained in Section 3 of the Warrant, and the provisions of Sections 7, 9 and 13 of
this Agreement with respect to the shares of Common Stock shall apply on like terms to any such other shares. All Warrants originally
issued by the Company subsequent to any adjustment made to the Exercise Price pursuant to the Warrant shall evidence the right
to purchase, at the adjusted Exercise Price, the number of shares of Common Stock purchasable from time to time hereunder upon
exercise of the Warrants, all subject to further adjustment as provided herein. The Company hereby agrees that it will provide
the Warrant Agent with reasonable notice of Adjustment Events. The Warrant Agent shall have no obligation under any Section of
this Agreement to determine whether an Adjustment Event has occurred or to calculate any of the adjustments set forth herein.

 

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Section 12. Certification
of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of shares of Common
Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare
a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief, detailed statement of the facts accounting
for such adjustment, and (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such
certificate. The Company may instruct the Warrant Agent to send a notice including such brief, detailed statement of the facts
accounting for the adjustment and a brief summary of any new or amended exercise terms to each Holder of a Warrant. If the Company
requests the Warrant Agent to send such notices, it shall provide the Warrant Agent with a draft notice to be used for this purpose.
The Warrant Agent shall be fully protected in relying on any such certificate and on any adjustment or statement therein contained
and shall have no duty or liability with respect to, and shall not be deemed to have knowledge of any such adjustment or any such
event unless and until it shall have received such certificate.

 

Section 13. Fractional
Shares of Common Stock.

 

(a)
The Company shall not issue Warrants representing fractional shares or distribute a Global Warrant or Warrant Certificate
that evidences fractional shares. Whenever any Warrant representing fractional shares would otherwise be required to be issued
or distributed, the actual issuance or distribution shall reflect a rounding of such fraction in accordance with Section 2(d)(v)
of the Warrant.

 

(b)
The Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates
that evidence fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to
be issued or distributed, the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v)
of the Warrant.

 

Section 14. Conditions
of the Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the express terms
and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the
Holders from time to time of the Warrant shall be subject:

 

(a)
Compensation and Indemnification. The Company agrees promptly to pay the Warrant Agent the compensation in accordance with
a fee schedule to be mutually agreed upon for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for
reasonable out-of-pocket expenses (including reasonable counsel fees) incurred in the preparation, delivery, negotiation, amendment,
administration and execution of this Agreement and the exercise and performance of its duties hereunder. The Company covenants
and agrees to indemnify and to hold the Warrant Agent harmless against, any and all loss, liability, damage, judgment, fine, penalty,
claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that
may be paid, incurred or suffered by it, or which it may become subject, without gross negligence, bad faith or willful misconduct
on the part of the Warrant Agent (which gross negligence, bad faith, or willful misconduct must be determined by a final, non-appealable
judgment of a court of competent jurisdiction), for any action taken, suffered, or omitted to be taken by the Warrant Agent in
connection with the execution, acceptance, administration, exercise and performance of its duties under this Agreement, including
the costs and expenses of defending against any claim of liability arising therefrom, directly or indirectly, or enforcing its
rights hereunder. The obligations of the Company set forth in this paragraph shall survive the termination of this Agreement and
the resignation or removal of the Warrant Agent.

 

    10

     

    

 

(b)
Agent for the Company. In acting under this Agreement and in connection with the Warrant Certificates, the Warrant Agent
is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any
of the Holders of Warrant Certificates or beneficial owners of Warrants.

 

(c)
Counsel. The Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the
advice or opinion of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered
or omitted by it hereunder in the absence of bad faith and in accordance with the advice or opinion of such counsel.

 

(d)
Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted
by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or
document reasonably believed by it to be genuine and to have been presented or signed by the proper parties.

 

(e)
Certain Transactions. The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire
any interest in, the Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and,
to the extent permitted by applicable law, it or they may engage or be interested in any financial or other transaction with the
Company and may act on, or as depositary, trustee or agent for, any committee or body of Holders of Warrants or other obligations
of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Agreement shall be deemed to prevent the
Warrant Agent from acting as trustee under any indenture to which the Company is a party. Nothing herein shall preclude the Warrant
Agent from acting in any other capacity for the Company or for any other legal entity.

 

(f)
No Liability for Interest. Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest
on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.

 

(g)
No Liability for Invalidity. The Warrant Agent shall have no liability with respect to any invalidity of this Agreement
or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon).

 

(h)
No Responsibility for Representations. The Warrant Agent shall not be responsible for any of the recitals, statement of
facts or representations herein or in the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon) or be
required to verify the same, all of which are made solely by the Company.

 

    11

     

    

 

(i) No Implied
Obligations. The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrants specifically set
forth and no implied duties or obligations shall be read into this Agreement or the Warrants against the Warrant Agent. The Warrant
Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability,
the payment of which within a reasonable time or adequate indemnification is not, in its reasonable opinion, assured to it. The
Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrants authenticated
by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the
proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the
performance of its covenants or agreements contained herein or in the Warrants or in the case of the receipt of any written demand
from a Holder of a Warrant with respect to such default, including, without limiting the generality of the foregoing, any duty
or responsibility to initiate or attempt to initiate any proceedings at law.

 

Section 15. Purchase
or Consolidation or Change of Name of Warrant Agent. Any Person into which the Warrant Agent or any successor Warrant Agent
may be merged or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Warrant
Agent or any successor Warrant Agent shall be party, or any Person succeeding to the corporate trust, stock transfer or shareholder
services business of the Warrant Agent or any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement
without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such corporation
would be eligible for appointment as a successor Warrant Agent under the provisions of Section 17. In case at the time such successor
Warrant Agent shall succeed to the agency created by this Agreement any of the Warrants shall have been countersigned but not delivered,
any such successor Warrant Agent may adopt the countersignature of the predecessor Warrant Agent and deliver such Warrants so countersigned;
and in case at that time any of the Warrants shall not have been countersigned, any successor Warrant Agent may countersign such
Warrants either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all such cases
such Warrants shall have the full force provided in the Warrants and in this Agreement.

 

In case at any time
the name of the Warrant Agent shall be changed and at such time any of the Warrants shall have been countersigned but not delivered,
the Warrant Agent may adopt the countersignature under its prior name and deliver Warrants so countersigned; and in case at that
time any of the Warrants shall not have been countersigned, the Warrant Agent may countersign such Warrants either in its prior
name or in its changed name; and in all such cases such Warrants shall have the full force provided in the Warrants and in this
Agreement.

 

Section 16. Duties
of Warrant Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following express
terms and conditions, by all of which the Company, by its acceptance hereof, shall be bound:

 

(a)
Whenever in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that
any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter
(unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a certificate signed by the Chief Executive Officer or Principal Financial Officer of the Company; and such certificate shall
be full authentication to the Warrant Agent for any action taken or suffered by it under the provisions of this Agreement in reliance
upon such certificate. The Warrant Agent shall not be liable and shall be indemnified by Company for any action taken or omitted
by Warrant Agent in reliance upon any such Company certificate. The Warrant Agent shall not be held to have notice of any change
of authority of any person, until receipt of written notice thereof from Company.

 

    12

     

    

 

(b)
Subject to Sections 28 and 29, the Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith
or willful (which gross negligence, bad faith or willful misconduct must be determined by a final, non-appealable judgment of a
court of competent jurisdiction.

 

(c)
The Warrant Agent shall not be under any responsibility in respect of the validity of this Agreement or the execution and
delivery hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant
(except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained
in this Agreement or in any Warrant; nor shall it be responsible for the adjustment of the Exercise Price or the making of any
change in the number of shares of Common Stock required under the provisions of Section 11 or 13 or responsible for the manner,
method or amount of any such change or the ascertaining of the existence of facts that would require any such adjustment or change
(but not limiting the Warrant Agent’s duties herein set forth upon the exercise of Warrants evidenced by Warrant Certificates
after actual notice of any adjustment of the Exercise Price); nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any
Warrant or as to whether any shares of Common Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

 

(d)
From time to time, the Chief Executive Officer or Principal Financial Officer of the Company may provide Warrant Agent with
instructions concerning the services performed by the Warrant Agent hereunder. In addition, at any time Warrant Agent may apply
to these officers for instruction, and may consult with legal counsel for Warrant Agent or Company with respect to any matter arising
in connection with the services to be performed by the Warrant Agent under this Agreement. Warrant Agent and its agents and subcontractors
shall not be liable and shall be indemnified by Company for any action taken or omitted by Warrant Agent in reliance upon any Company
instructions or upon the advice or opinion of such counsel. Warrant Agent shall not be held to have notice of any change of authority
of any person, until receipt of written notice thereof from Company.

 

(e)
The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder
either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act,
default, neglect or misconduct of any such attorney or agents or for any loss to the Company resulting from any such act, default,
neglect or misconduct, provided reasonable care was exercised in the selection and continued employment thereof.

 

(f)
The Warrant Agent shall forward funds received for Warrant exercises by the fifth Business Day of the following month after
such funds are received by the Warrant Agent by wire transfer to an account designated by the Company.

 

(g)
This Section 16 shall survive the termination of this Agreement and the resignation or removal of the Warrant Agent.

 

    13

     

    

 

Section 17. Change
of Warrant Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon 30 days’ notice
in writing sent to the Company and, and in the event that the Warrant Agent or one of its affiliates is not also the transfer agent
for the Common Stock, to each transfer agent of the Common Stock known to the Warrant Agent, and to the Holders of the Warrant
Certificates. In the event the transfer agency relationship in effect between the Company and the Warrant Agent terminates, the
Warrant Agent will be deemed to have resigned automatically and be discharged from its duties under this Agreement as of the effective
date of such termination, and the Company shall be responsible for sending any required notice prescribed in this Section 17. The
Company may remove the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in writing, sent to the Warrant
Agent or successor Warrant Agent, as the case may be, and to each transfer agent of the Common Stock, and to the Holders of the
Warrant Certificates. If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company
shall appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after
such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant
Agent or by the Holder of a Warrant Certificate (who shall, with such notice, submit his Warrant Certificate for inspection by
the Company), then the Holder of any Warrant Certificate may apply to any court of competent jurisdiction for the appointment of
a new Warrant Agent. Any successor Warrant Agent, whether appointed by the Company or by such a court, shall be an entity organized
and doing business under the laws of the United States or of a state thereof, in good standing, which is authorized under such
laws to exercise stock transfer powers and is subject to supervision or examination by federal or state authority and which has
at the time of its appointment as Warrant Agent (along with its affiliates) a combined capital and surplus of at least $50,000,000.
After appointment, the successor Warrant Agent shall be vested with the same powers, rights, duties and responsibilities as if
it had been originally named as Warrant Agent without further act or deed; but the predecessor Warrant Agent shall deliver and
transfer to the successor Warrant Agent any property at the time held by it hereunder, and execute and deliver any further assurance,
conveyance, act or deed necessary for the purpose; provided, that, such predecessor Warrant Agent shall not be required to make
any additional expenditure or assume any additional liability in connection with the foregoing. Not later than the effective date
of any such appointment, the Company shall file notice thereof in writing with the predecessor Warrant Agent and each transfer
agent of the Common Stock, and send a notice thereof in writing to the Holders of the Warrant Certificates. However, failure to
give any notice provided for in this Section 17, or any defect therein, shall not affect the legality or validity of the resignation
or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the case may be.

 

Section 18. Issuance
of New Warrants. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company may,
at its option, issue a new Global Warrant or Warrant Certificates, if any, evidencing Warrants in such form as may be approved
by its Board of Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of
shares of stock or other securities or property purchasable under the Global Warrant or Warrant Certificate, if any, made in accordance
with the provisions of this Agreement.

 

Section 19. Notices.
Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrants to
or on the Company, (ii) subject to the provisions of Section 17, by the Company or by the Holder of any Warrants to or on the Warrant
Agent or (iii) by the Company or the Warrant Agent to the Holder of any Warrant, may be delivered personally, by facsimile, e-mail
or sent by a nationally recognized overnight courier service to each recipient at the facsimile number or address of such recipient
appearing below or on the books of the Company or the Warrant Agent, as applicable, and shall be deemed given and effective on
the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile (with confirmation) or
e-mail at the facsimile number or e-mail address, as applicable, as provided in this Section prior to 5:30 p.m. (New York City
time) on any date, (ii) the next Business Day after the date of transmission, if such notice or communication is delivered via
facsimile (with confirmation) or e-mail at the facsimile number or e-mail as provided in this Section on a day that is not a Business
Day or later than 5:30 p.m. (New York City time) on any Business Day, (iii) the first Business Day following the date of mailing,
if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given.

 

    14

     

    

 

(a)
If to the Company, to:

 

Inpixon

2479 E. Bayshore Road, Suite 195, Palo Alto, CA
94303

Attention: Nadir Ali, Chief Executive Officer

Facsimile number: 703-880-7219

E-mail
address: Nadir.Ali@Inpixon.com

 

(b)
If to the Warrant Agent, to:

 

Computershare Trust Company, N.A.

250 Royall Street

Canton, MA 02021

Attention:
Client Services

Facsimile:
781-575-4647

E-mail address:
*

 

(c)
If to the Holder of any Warrant, to the address, facsimile number or e-mail address of such Holder as shown on the registry
books of the Company. Any notice required to be delivered by the Company to the Holder of any Warrant may be given by the Warrant
Agent on behalf of the Company. Notwithstanding any other provision of this Agreement, where this Agreement provides for notice
of any event to a Holder of any Warrant Certificate, for a Global Warrant, such notice shall be sufficiently given if given to
the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

 

Section 20. Supplements
and Amendments.

 

(a)
The Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders
of Warrants in order to cure any ambiguity, to correct or supplement any provision contained herein which may be defective or inconsistent
with any other provisions herein, or to make any other provisions with regard to matters or questions arising hereunder which the
Company and the Warrant Agent may deem necessary or desirable and which shall not adversely affect the interests of the Holders
of the Warrants in any material respect.

 

    15

     

    

 

(b)
In addition to the foregoing, with the consent of Holders of Warrants, the Company and the Warrant Agent may modify this
Agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement
or modifying in any manner the rights of the Holders of the Warrant Certificates; provided, however, that no modification
of the terms (including but not limited to the adjustments described in Section 11) upon which the Warrants are exercisable or
reducing the percentage required for consent to modification of this Agreement may be made without the consent of the Holder of
each outstanding warrant certificate affected thereby. As a condition precedent to the Warrant Agent’s execution of any amendment,
the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that the
proposed amendment complies with the terms of this Section 20. Notwithstanding anything in this Agreement to the contrary, the
Warrant Agent shall not be required to execute any supplement or amendment to this Agreement that it has determined would adversely
affect its own rights, duties, obligations or immunities under this Agreement. No supplement or amendment to this Agreement shall
be effective unless duly executed by the Warrant Agent.

 

Section 21. Successors.
All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns hereunder.

 

Section 22. Benefits
of this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Warrants
and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole
and exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrants.

 

Section 23. Governing
Law. This Agreement and each Warrant issued hereunder shall be governed by, and construed in accordance with, the internal
laws of the State of New York without giving effect to the conflicts of law principles thereof.

 

Section 24. Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this Agreement
transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

Section 25. Captions.
The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning
or construction of any of the provisions hereof.

 

Section 26. Information.
The Company agrees to promptly provide to the Holders of the Warrants any information it provides to all holders of the Common
Stock, except to the extent any such information is publicly available on the EDGAR system (or any successor thereof) of the Securities
and Exchange Commission.

 

Section 27. Force
Majeure. Notwithstanding anything to the contrary contained herein, Warrant Agent shall not be liable for any delays or failures
in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, shortage
of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures
or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest, it being understood
that the Warrant Agent shall use reasonable best efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances; provided, however, that this provision shall not affect or limit
in any way the obligations of the Company under the Global Warrants or the Warrant Certificates.

 

    16

     

    

 

Section 28. Limitation
of Liability. Notwithstanding anything contained herein to the contrary, the Warrant Agent’s aggregate liability to the
Company during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from
all services provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is limited
to, and shall not exceed, the amounts paid hereunder by the Company to Warrant Agent as fees and charges, but not including reimbursable
expenses, during the twelve (12) months immediately preceding the event for which recovery from Warrant Agent is being sought.
This Section shall survive the termination of the Agreement and the replacement or removal of the Warrant Agent.

 

Section 29. Consequential
Damages. Neither party to this Agreement shall be liable to the other party for any consequential, indirect, special or incidental
damages under any provisions of this Agreement or for any consequential, indirect, punitive, special or incidental damages arising
out of any act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such damages.

 

Section 30. Confidentiality.
The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party,
including inter alia, personal, non-public warrant holder information, which are exchanged or received pursuant to the negotiation
or the carrying out of this Agreement including the fees for services set forth in the attached schedule shall remain confidential,
and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without limitation, pursuant
to subpoenas from state or federal government authorities (e.g., in divorce and criminal actions).

 

Section 31. Further
Assurance. The Company shall perform, acknowledge and deliver or cause to be performed, acknowledged and delivered all such
further and other acts, documents, instruments and assurances as may be reasonably required by the Warrant Agent for the carrying
out or performing by the Warrant Agent of the provisions of this Agreement.

 

Section 32.
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or
invalidated; provided, however, that if such excluded provision shall affect the rights, immunities, liabilities, duties or
obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to the
Company.

 

[Signature Page to Follow]

 

    17

     

    

 

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

 

	 	INPIXON
	 	 	 
	 	By:	                      
	 	Name:	 
	 	Title:	 
	 	 	 
	 	COMPUTERSHARE INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	COMPUTERSHARE TRUST COMPANY, N.A.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    18

     

    

 

Annex A: Form of Warrant Certificate
Request Notice

 

WARRANT CERTIFICATE REQUEST NOTICE

 

To: Computershare Inc. and Computershare
Trust Company, N.A., jointly as Warrant Agent for Inpixon (the “Company”)

 

The undersigned Holder of Common Stock
Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company hereby elects to receive a Warrant
Certificate evidencing the Warrants held by the Holder as specified below:

 

		1.	Name of Holder of Warrants in form of Global Warrants: _____________________________

 

		2.	Name of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of
Global Warrants): ________________________________

 

		3.	Number of Warrants in name of Holder in form of Global Warrants: ___________________

 

		4.	Number of Warrants for which Warrant Certificate shall be issued: __________________

 

		5.	Number of Warrants in name of Holder in form of Global Warrants after issuance
of Warrant Certificate, if any: ___________

 

		6.	Warrant Certificate shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

The undersigned hereby acknowledges
and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate, the Holder is deemed to
have surrendered the number of Warrant Shares in form of Global Warrants in the name of the Holder equal to the number of Warrant
Shares evidenced by the Warrant Certificate.

 

[SIGNATURE OF HOLDER]

 

Name of Investor: ____________________________________________________

 

Signature of Authorized Signatory of Investor if Investor
Is an Entity: ______________________________

 

Name of Authorized Signatory: ________________________________________________

 

Title of Authorized Signatory: _________________________________________________

 

Date: ______________________________________________________________

 

Signature of Authorized Signatory of
Investor if Investor Is an Individual: ___________________________

 

Date: _______________________

 

     

     

    

 

Exhibit 1: Form of
WarrantEX-4.1

 Exhibit 4.1 

SEASPAN CORPORATION 
 - and –

 THE WASHINGTON ENTITIES SPECIFIED HEREIN 

REGISTRATION RIGHTS AGREEMENT 

January 14, 2019 

 Table of Contents 

 

					
	 	  	Page	 
	 Article I DEFINITIONS
	  	 	1	 
	 Section 1.01    Definitions
	  	 	1	 
	 Section 1.02    Registrable Shares
	  	 	3	 
		
	 Article II REGISTRATION RIGHTS
	  	 	4	 
	 Section 2.01    Common Shares Shelf Registration
	  	 	4	 
	 Section 2.02    [Reserved.]
	  	 	4	 
	 Section 2.03    [Reserved.]
	  	 	5	 
	 Section 2.04    Delay Rights
	  	 	5	 
	 Section 2.05    Underwritten Offerings
	  	 	5	 
	 Section 2.06    Piggyback Offering
	  	 	6	 
	 Section 2.07    Sale Procedures
	  	 	8	 
	 Section 2.08    Cooperation by Holders
	  	 	11	 
	 Section 2.09    Restrictions on Public Sale by Holders of Registrable
Shares
	  	 	11	 
	 Section 2.10    Expenses
	  	 	11	 
	 Section 2.11    Indemnification
	  	 	11	 
	 Section 2.12    Rule 144 Reporting
	  	 	14	 
	 Section 2.13    Transfer or Assignment of Registration Rights
	  	 	14	 
	 Section 2.14    Limitation on Subsequent Registration Rights
	  	 	14	 
		
	 Article III MISCELLANEOUS
	  	 	14	 
	 Section 3.01    Communications
	  	 	14	 
	 Section 3.02    Successor and Assigns
	  	 	16	 
	 Section 3.03    Assignment of Rights
	  	 	16	 
	 Section 3.04    Recapitalization, Exchanges, Etc. Affecting the Common
Shares
	  	 	16	 
	 Section 3.05    Counterparts
	  	 	16	 
	 Section 3.06    Headings
	  	 	16	 
	 Section 3.07    Governing Law; Jurisdiction
	  	 	16	 
	 Section 3.08    Waiver of Immunity
	  	 	17	 
	 Section 3.09    Judgment Currency
	  	 	17	 
	 Section 3.10    Severability of Provisions
	  	 	17	 
	 Section 3.11    Entire Agreement
	  	 	17	 
	 Section 3.12    Amendment
	  	 	18	 
	 Section 3.13    No Presumption
	  	 	18	 
	 Section 3.14    Obligations Limited to Parties to Agreement
	  	 	18	 
	 Section 3.15    Interpretation
	  	 	18	 
	 Section 3.16    Injunctive Relief
	  	 	18	 

  
 (i) 

 REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of January 14, 2019, by and between
Seaspan Corporation, a corporation existing under the laws of the Republic of The Marshall Islands (the “Company”), and each of the investors specified on the signature pages hereto (the “Washington Entities”). 

WHEREAS, as of the date hereof, the Washington Entities own all the Registrable Shares (as defined herein) of the Company and are the Holders
(as defined herein); 
 WHEREAS, the audit committee of the Board of Directors (the “Board”) of the Company has determined
that it is in the best interest of the Company and its shareholders to enter into this Agreement; and 
 WHEREAS, the Company has agreed to
provide the registration and other rights set forth in this Agreement for the benefit of the Holders. 
 NOW THEREFORE, in consideration of
the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01    Definitions. The terms set forth below are used herein as
so defined: 
 “Affiliate” of any Person means any other Person, directly or indirectly, Controlling, Controlled by or
under common Control with such particular Person. 
 “Agreement” has the meaning specified therefor in the recitals of this
Agreement. 
 “Board” has the meaning specified therefor in the recitals of this Agreement. 

“Business Day” means any day other than a Saturday, Sunday, any federal legal holiday or day on which banking institutions in
Vancouver, Canada, the Republic of the Marshall Islands or the State of New York are authorized or required by law or other governmental action to close. 

“Commission” means the U.S. Securities and Exchange Commission or any other federal agency at the time administering the
Securities Act or the Exchange Act, whichever is the relevant statute for the particular purpose. 
 “Common Shares” means
Class A common shares, par value $0.01 per share, of the Company. 
 “Company” has the meaning specified therefor in
the recitals of this Agreement. 
 “Company Underwritten Offering” has the meaning specified therefor in
Section 2.06 of this Agreement. 
 “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 though the ownership of voting securities, by contract or otherwise. The terms “Controlled” and “Controlling” shall have
correlative meanings. 
 “Controlling Person” has the meaning specified therefor in
Section 2.07(i) of this Agreement. 

 “Effective Date” means the time and date as of which the Commission
declares the Washington Resale Registration Statement effective or as of which the Washington Resale Registration Statement otherwise becomes effective. 

“Effectiveness Period” means the period beginning on the Effective Date and ending at the time all Registrable Shares covered
by the Washington Resale Registration Statement have ceased to be Registrable Shares. 
 “Electing Holders” has the meaning
specified therefor in Section 2.05 of this Agreement. 
 “Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder. 
 “Governmental
Authority” means any federal, state, local or foreign government, or other governmental, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body. 

“Holder” means the Washington Entities and any other Person who acquire Registrable Shares from time to time in accordance
with Section 2.13 of this Agreement, in each case, for so long as such Person owns any Registrable Shares. 

“Holders’ Counsel” means one counsel for all the selling Holders chosen by Holders. 

“Inspectors” has the meaning specified therefor in Section 2.07(k) of this Agreement. 

“Loss” has the meaning specified therefor in Section 2.11(a) of this Agreement. 

“Managing Underwriter” means, with respect to any Underwritten Offering, the book-running lead manager of such Underwritten
Offering. 
 “Person” means an individual or a corporation, limited liability company, corporation, joint venture, trust,
unincorporated organization, association, government agency or political subdivision thereof or other entity. 
 “Piggyback
Notice” has the meaning specified therefor in Section 2.06 of this Agreement. 

“Records” has the meaning specified therefor in Section 2.07(k) of this Agreement. 

“Registrable Shares” means the 52,810,939 Common Shares held by the Washington Entities as of the date hereof until such time
as they cease to be Registrable Shares pursuant to Section 1.02 of this Agreement. 
 “Registration
Expenses” means all expenses incurred by the Company in effecting any registration pursuant to this Agreement, including, (i) all registration and filing fees and any other fees and expenses associated with filings required to be made
with the SEC (or any other securities exchange or inter-dealer quotation system on which Common Shares are at such time admitted for trading or otherwise quoted), (ii) all printing, duplicating, word processing, messenger, telephone, facsimile and
delivery expenses (including expenses of printing certificates for the Registrable Shares in a form eligible for deposit with The Depository Trust Company and of printing prospectuses), (iii) fees and disbursements of counsel for the Company,
(iv) blue sky fees and expenses, (v) all fees and expenses incurred in connection with the listing of the Registrable Shares on any securities exchange or quotation of the Registrable Shares on any inter-dealer quotation system,
(vi) expenses of the Company’s independent accountants in connection with any regular or special reviews or audits incident to or required by any such registration, and (vii) all fees and expenses of any special experts or other
Persons retained by the Company in connection with any registration. 

  
 2 

 “Rule 144,” “Rule 145” and “Rule 415”
means, in each case, such rule promulgated under the Securities Act (or any successor provision), as the same shall be amended from time to time. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Selling Expenses” means all fees and disbursements of Holders’ Counsel and all underwriting discounts,
selling commissions and stock transfer taxes applicable to the sale of Registrable Securities. 
 “Selling Holder” means a
Holder who is selling Registrable Shares under the Washington Resale Registration Statement pursuant to the terms of this Agreement. 

“Selling Shareholder Information” has the meaning specified therefor in Section 2.11(b) of this Agreement. 

“Shelf Registration Statement” means a registration statement under the Securities Act to permit the public resale of the
Registrable Shares from time to time as permitted by Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect). 

“Underwritten Offering” means an offering (including an offering pursuant to a Shelf Registration Statement) in which
Registrable Shares are sold to one or more underwriters on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” or “block trade” with one or more investment banks. 

“Underwritten Offering Demand Notice” has the meaning specified therefor in Section 2.05 of this
Agreement. 
 “Violation” has the meaning specified therefor in Section 2.11(a) of this Agreement. 

“Washington Entities” has the meaning specified therefor in the recitals of this Agreement. 

“Washington Resale Registration Statement” means the registration statement of the Company on an appropriate form relating to
the registration, under the Securities Act, for resale of Registrable Shares pursuant to a Shelf Registration Statement, which is filed pursuant to the provisions of this Agreement, including the prospectus included therein, all amendments and
supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Section 1.02    Registrable Shares. Any Registrable Share shall cease to be a
Registrable Share at the earliest of the following: (i) when a registration statement covering such Registrable Share becomes or has been declared effective by the Commission and such Registrable Share has been sold or disposed of pursuant to
such effective registration statement; (ii) when such Registrable Share has been sold or disposed of pursuant to Rule 144 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect) under
circumstances in which all of the applicable conditions of Rule 144 (as then in effect) are met; (iii) when Rule 144 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect) is available for the
sale or other disposition of such Registrable Share without limitation during a three-month period, (iv) when such Registrable Share is held by the Company; or (v) when such Registrable Share has been sold or disposed of in a private
transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of such securities pursuant to Section 2.13 hereof. 

  
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 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.01    Common Shares Shelf Registration. The Company agrees, on or prior
to seventy-five (75) days after the date of this Agreement, to prepare and file with the Commission the Washington Resale Registration Statement. The Washington Resale Registration Statement shall be on Form
F-3 or, if Form F-3 is not then available to the Company, on Form F-1 or such other form of registration statement as is then
available to effect a registration for resale of the Registrable Shares and shall contain a prospectus in such form as to permit any Selling Holder covered by the Washington Resale Registration Statement to sell such Registrable Shares pursuant to
Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect) at any time beginning on the Effective Date for the Washington Resale Registration Statement. 

The Company shall use its reasonable best efforts to cause the Washington Resale Registration Statement filed pursuant to this
Section 2.01 to be declared effective under the Securities Act as promptly as practicable after filing. 
 The
Washington Resale Registration Statement shall provide for the resale pursuant to any method or combination of methods legally available to, and requested by, the Selling Holders, including by way of an Underwritten Offering, if such an election has
been made pursuant to Section 2.05 of this Agreement. During the Effectiveness Period, the Company shall use its reasonable best efforts to cause the Washington Resale Registration Statement filed pursuant to this
Section 2.01 to remain effective, and to be supplemented and amended to the extent necessary to ensure that the Washington Resale Registration Statement is available or, if not available, that another registration statement
is available for the resale of the Registrable Shares until all Registrable Shares have ceased to be Registrable Shares. Such other registration statement shall then be the Washington Resale Registration Statement for purposes of this Agreement.

 As soon as practicable following the Effective Date of the Washington Resale Registration Statement, but in any event within three
(3) Business Days of such date, the Company shall notify the Holders of the effectiveness of the Washington Resale Registration Statement. When effective, the Washington Resale Registration Statement (including any documents incorporated
therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in the Washington Resale Registration Statement, in the light of the circumstances under which a statement is made). 

If at any time the Commission deems the registration of any Registrable Shares to be a primary offering by the Company, and the Commission
prohibits the use of Rule 415 under the Securities Act (or any similar provision then in force) to sell such Registrable Shares on a delayed or continuous basis, then the parties agree that the Company’s failure to have the Washington Resale
Registration Statement declared effective shall not be a breach of this Agreement. In such event, the Company shall be permitted to exclude from the Washington Resale Registration Statement such number of Registrable Shares so as to allow the
Washington Resale Registration Statement to be eligible for Rule 415. In the event that any Registrable Shares are excluded from the Washington Resale Registration Statement for purposes of maintaining eligibility to use Rule 415, the number of
Registrable Shares to be registered for each Holder in the Washington Resale Registration Statement shall be reduced pro rata among all then applicable Holders, unless otherwise agreed in writing among the Company and the Holders. 

Section 2.02    [Reserved.] 

  
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 Section 2.03    [Reserved.] 

Section 2.04    Delay Rights. Notwithstanding anything to the contrary contained
herein, the Company may, upon written notice to (i) all Holders, delay the filing of the Washington Resale Registration Statement required under Section 2.01, or (ii) any Selling Holder whose Registrable Shares
are included in the Washington Resale Registration Statement, suspend such Selling Holder’s use of any prospectus that is a part of the Washington Resale Registration Statement (in which event the Selling Holder shall discontinue sales of the
Registrable Shares pursuant to the Washington Resale Registration Statement but may settle any previously made sales of Registrable Shares) if the Company (x) is pursuing an acquisition, merger, tender offer, reorganization, restructuring,
disposition or other similar transaction and the Board determines in good faith that (A) the Company’s ability to pursue or consummate such a transaction would be materially adversely affected by any required disclosure of such transaction
in the Washington Resale Registration Statement or other filings or (B) such transaction renders the Company unable to comply with Commission requirements, in each case under circumstances that would make it impractical or inadvisable to cause
the Washington Resale Registration Statement (or such filings) to become effective or to promptly amend or supplement the Washington Resale Registration Statement on a post effective basis, as applicable, or (y) has experienced some other
material non-public event the disclosure of which at such time, in the good faith judgment of the Board, would materially adversely affect the Company; provided, however, in no event shall (A) such filing
of the Washington Resale Registration Statement be delayed under clauses (x) or (y) of this Section 2.04 for a period that exceeds sixty (60) days or (B) such Selling Holders be suspended under clauses
(x) or (y) of this Section 2.04 from selling Registrable Shares pursuant to the Washington Resale Registration Statement for a period that exceeds an aggregate of ninety (90) days in any twelve (12) month
period, in each case, exclusive of days covered by any lock-up agreement executed by a Selling Holder in connection with any Underwritten Offering. Upon disclosure of such information or the termination of the
condition described above, the Company shall provide prompt notice, but in any event within one (1) Business Day of such disclosure or termination, to the Selling Holders whose Registrable Shares are included in the Washington Resale
Registration Statement and shall promptly terminate any suspension of sales it has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Shares as contemplated in this Agreement. 

Section 2.05    Underwritten Offerings. Upon request by a Holder or Holders (such
request, an “Underwritten Offering Demand Notice” and such electing Holders, the “Electing Holders”), as long as the Electing Holders collectively own more than 10% of the Company’s Common Shares, the Company
shall retain underwriters in order to permit the Electing Holders to effect an Underwritten Offering; provided, however, that the Holders shall have the option and right to require the Company to effect not more than three
(3) Underwritten Offerings pursuant to and subject to the conditions of this Section 2.05, subject to a maximum of two (2) Underwritten Offerings during any twelve (12)-month period. 

In connection with any Underwritten Offering under this Agreement, the Company shall be entitled to select the Managing Underwriter or
Underwriters, but only with the consent of the Electing Holders (not to be unreasonably conditioned, withheld or delayed). In connection with an Underwritten Offering contemplated by this Agreement, each Electing Holder and the Company shall be
obligated to enter into an underwriting agreement that contains such representations, covenants, indemnities and other rights and obligations as are customary in underwriting agreements for firm commitment offerings of securities. No Electing Holder
may participate in such Underwritten Offering unless such Electing Holder agrees to sell its Registrable Shares on the basis provided in such underwriting agreement and completes and executes all questionnaires, powers of attorney, indemnities and
other documents reasonably required under the terms of such underwriting agreement. Each Electing Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to
and for the benefit of such underwriters also be made to and for such Electing Holder’s benefit and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting

  
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agreement also be conditions precedent to its obligations. No Electing Holder shall be required to make any representations or warranties to or agreements with the Company or the underwriters
other than representations, warranties or agreements regarding such Electing Holder, its authority to enter into such underwriting agreement and to sell, and its ownership of, the securities whose offer and resale will be registered, on its behalf,
its intended method of distribution and any other representation required by applicable law. 
 If any Electing Holder disapproves of the
terms of an underwriting, such Electing Holder may elect to withdraw therefrom by notice to the Company and the Managing Underwriter; provided, however, that any such withdrawal must be made no later than immediately prior to the time
of pricing of such Underwritten Offering. If the registration statement relating to an Underwritten Offering is suspended pursuant to Section 2.04, the events will not be considered an Underwritten Offering and will not
decrease the number of available Underwritten Offerings the Holders have the right and option to request under this Section 2.05. No such withdrawal or abandonment shall affect the Company’s obligation to pay
Registration Expenses pursuant to Section 2.10. If all Electing Holders withdraw from an Underwritten Offering prior to the pricing of such Underwritten Offering, the events will be considered an Underwritten Offering and
will decrease the number of available Underwritten Offerings the Holders have the right and option to request under this Section 2.05 unless in connection with such withdrawal the Electing Holders reimburse the Company for
its Registration Expenses, in which case such withdrawal will not be considered an Underwritten Offering and will not decrease the number of available Underwritten Offerings the Holders have the right and option to request under this
Section 2.05. 
 Except as otherwise set forth in this Section 2.05 or
Section 2.06, the Company shall not include in any Underwritten Offering any securities which are not Registrable Shares without the prior written consent of the Selling Holders. If the Managing Underwriter of a proposed
Underwritten Offering advises the Company and the Selling Holders of Registrable Shares in writing that in its opinion the number of Registrable Shares proposed to be included in the Underwritten Offering exceeds the number of Registrable Shares
which can be sold in such Underwritten Offering and/or the number of Registrable Shares proposed to be included in such Underwritten Offering would adversely affect the price of the Registrable Shares proposed to be sold in such Underwritten
Offering, the Company shall include in such Underwritten Offering (i) first, the Registrable Shares the Selling Holders propose to sell, and (ii) second, the Common Shares proposed to be included therein by any other Persons (including
Common Shares to be sold for the account of the Company and/or other holders of Common Shares) allocated among such Persons in such manner as they may agree. If the Managing Underwriter determines that less than all of the Registrable Shares
proposed to be sold can be included in such offering, then the Registrable Shares that are included in such offering shall be allocated pro rata among the respective Selling Holders thereof on the basis of the number of Registrable
Shares owned by each such Selling Holder, unless otherwise agreed in writing among the Company, the Selling Holders and the Managing Underwriter. 

Section 2.06    Piggyback Offering. If the Company shall at any time propose to
conduct an underwritten offering of Common Shares for cash (a “Company Underwritten Offering”) for its own account or for the account of any other Persons (excluding, for the avoidance of doubt, (i) an offering pursuant to a
registration statement on Form S-8 or other offering relating solely to an employee benefit plan, (ii) an offering pursuant to a registration statement on Form F-4
or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto or (iii) an offering in connection with any dividend or distribution reinvestment or similar plan), the Company shall
promptly notify all Holders of such proposal reasonably in advance of (and in any event at least ten (10) Business Days before) the commencement of the offering, which notice will set forth the principal terms and conditions of the issuance,
including the proposed offering price (or range of offering prices), if known, the anticipated filing date of the registration statement (if applicable) and the number of Common Shares that are proposed to be offered (the “Piggyback
Notice”); provided, however, notwithstanding any other provision of this Agreement, if the Managing Underwriter(s) of a Company Underwritten Offering 

  
 6 

 
advises the Company that in their opinion the inclusion of any of a Holder’s Registrable Shares requested for inclusion in the subject Company Underwritten Offering would likely have an
adverse effect in any material respect on the price, timing or distribution of Common Shares proposed to be included in such Company Underwritten Offering, the Company shall have no obligation to provide a Piggyback Notice to such Holder and such
Holder shall have no right to include any Registrable Shares in such Company Underwritten Offering. The Piggyback Notice shall offer the Holders the opportunity to include in such Company Underwritten Offering the number of Registrable Shares as
they may request. The Company shall use its reasonable best efforts to include in each such Company Underwritten Offering such Registrable Shares for which the Company has received written requests for inclusion therein within five (5) Business
Days after sending the Piggyback Notice. 
 If the Managing Underwriter(s) of a Company Underwritten Offering advise the Company and the
Holders who have requested their Registrable Shares be included in such offering following a Piggyback Notice that in its or their opinion the inclusion of all of such Holders’ Registrable Shares requested for inclusion in the subject Company
Underwritten Offering (and any other Common Shares proposed to be included in such offering) would likely have an adverse effect in any material respect on the price, timing or distribution of Common Shares proposed to be included in such offering
by the Company, the Company shall include in such Company Underwritten Offering only that number of Common Shares proposed to be included in such Company Underwritten Offering that, in the opinion of the Managing Underwriter(s), will not have such
adverse effect, with such number to be allocated as follows: 
 (a)    first, up to 100% of the
Common Shares that the Company or any Person (other than a Holder) exercising a contractual right that existed as of the date of this Agreement to demand registration, as the case may be, proposes to include in the Company Underwritten Offering;

 (b)    second, and only if all of the Common Shares, if any, referred to in clause
(a) have been included, up to 100% of the Common Shares proposed to be offered by security holders having registration rights existing prior to the date of this Agreement; 

(c)    third, and only if all of the Common Shares referred to in clause (b) have been
included, pro rata (based on the number of Common Shares held by each such Person or Holder) among (i) any Person or Persons exercising a contractual right that was granted by the Company after the date of this Agreement to demand
registration and (ii) all the Holders who have requested participation in such Company Underwritten Offering; and 

(d)    fourth, and only if all of the Registrable Shares and other Common Shares referred to in
clause (c) have been included in such registration, any Common Shares eligible for inclusion in such registration other than those set forth in clauses (a) through (c) above. 

If any Holder disapproves of the terms of any such Company Underwritten Offering, such Holder may elect to withdraw therefrom by written
notice to the Company and the Managing Underwriter(s) delivered on or prior to the time of the commencement of such offering. 
 The Company
shall have the right to terminate or withdraw any Company Underwritten Offering initiated by it under this Section 2.06 at any time in its sole discretion whether or not any Holder has elected to include Registrable Shares.
The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.10 hereof. 

  
 7 

 Section 2.07    Sale Procedures.
In connection with its obligations under this Article II, the Company shall, as expeditiously as possible: 

(a)    use its reasonable best efforts to prepare and file with the Commission such amendments and
supplements to the Washington Resale Registration Statement and the prospectus used in connection therewith as may be necessary to keep the Washington Resale Registration Statement effective for the Effectiveness Period and as may be necessary to
comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares covered by the Washington Resale Registration Statement; 

(b)    if a prospectus supplement will be used in connection with the marketing of an Underwritten Offering
from the Washington Resale Registration Statement and the Managing Underwriter at any time shall notify the Company in writing that, in the sole judgment of such Managing Underwriter, inclusion of detailed information to be used in such prospectus
supplement is of material importance to the success of the Underwritten Offering of such Registrable Shares, the Company shall use its reasonable best efforts to include such information in such prospectus supplement; 

(c)    furnish to each Selling Holder (i) as far in advance as is reasonably practicable before filing
the Washington Resale Registration Statement contemplated by this Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits and each document
incorporated by reference therein to the extent then required by the rules and regulations of the Commission other than annual or quarterly reports on Form 20-F or 6-K,
respectively, current reports on Form 6-K or proxy statements; provided, however, that such reports or proxy statements shall be provided at least two (2) Business Days prior to filing in
connection with any Underwritten Offering), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling Holder and its plan of distribution that is contained therein and make the corrections
reasonably requested by such Selling Holder with respect to such information prior to filing the Washington Resale Registration Statement or any supplement or amendment thereto, and (ii) such number of copies of the Washington Resale
Registration Statement and the prospectus included therein and any supplements and amendments thereto as such Selling Holder may reasonably request in order to facilitate the public sale or other disposition of the Registrable Shares covered by the
Washington Resale Registration Statement; 
 (d)    if applicable, use its reasonable best efforts to
register or qualify the Registrable Shares covered by the Washington Resale Registration Statement contemplated by this Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten
Offering, the Managing Underwriter, shall reasonably request; provided, however, that the Company shall not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to
take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject; 

(e)    promptly notify each Selling Holder, at any time when a prospectus relating thereto is required to
be delivered by any of them under the Securities Act, of (i) the filing of the Washington Resale Registration Statement contemplated by this Agreement or any prospectus or prospectus supplement to be used in connection therewith, or any
amendment or supplement thereto, and, with respect to the Washington Resale Registration Statement or any post-effective amendment thereto, when the same has become effective; and (ii) the receipt of any written comments from the Commission
with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to the Washington Resale Registration Statement or any prospectus or prospectus supplement thereto; 

  
 8 

 (f)    promptly notify each Selling Holder, at any time
when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in the Washington Resale Registration Statement
contemplated by this Agreement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any
prospectus contained therein, in the light of the circumstances under which a statement is made); (ii) the issuance or express threat of issuance by the Commission of any stop order suspending the effectiveness of the Washington Resale Registration
Statement contemplated by this Agreement, or the initiation of any proceedings for that purpose; or (iii) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Shares for sale
under the applicable securities or blue sky laws of any jurisdiction. Following the provision of such notice, the Company agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate
action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of
the circumstances then existing and use its reasonable best efforts to take such other action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto; 

(g)    upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder
copies of any and all transmittal letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such
offering of Registrable Shares; 
 (h)    in the case of an Underwritten Offering, use its reasonable
best efforts to furnish to the underwriters upon request, (i) an opinion or opinions of counsel for the Company dated the date of the closing under the underwriting agreement and (ii) a “cold comfort” letter, dated the pricing
date of such Underwritten Offering and a letter of like kind dated the date of the closing under the underwriting agreement, in each case, signed by the independent public accountants who have certified the Company’s financial statements
included or incorporated by reference into the applicable registration statement, and each of the opinion or opinions and the “cold comfort” letter shall be in customary form and covering substantially the same matters with respect to such
registration statement (and the prospectus and any prospectus supplement included therein) as have been customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to the underwriters in Underwritten Offerings
of securities by the Company and such other matters as such underwriters and Selling Holders may reasonably request; 

(i)    if the Washington Resale Registration Statement refers to any Selling Holder by name or otherwise as
the holder of any securities of the Company and if in its sole and exclusive judgment such Selling Holder is or might be deemed to be an underwriter or “controlling person” (within the meaning of Section 15 of the Securities Act and
Section 20 of the Exchange Act) (a “Controlling Person”) of the Company, such Selling Holder shall have the right to require the insertion therein of language, in form and substance satisfactory to such Selling Holder and
presented to the Company in writing, to the effect that the holding by such Selling Holder of such securities is not to be construed as a recommendation by such Selling Holder of the investment quality of the Company’s securities covered
thereby and that such holding does not imply that such Selling Holder shall assist in meeting any future financial requirements of the Company; 

  
 9 

 (j)    otherwise use its reasonable best efforts to
comply with all applicable rules and regulations of the Commission; 
 (k)    make available for
inspection by any Selling Holder of Registrable Shares, any underwriter participating in any disposition pursuant to the Washington Resale Registration Statement and any attorney, accountant or other agent retained by any such holder or underwriter
(collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), and cause the Company’s officers, directors and
employees to supply all information requested by any such Inspector in connection with the Washington Resale Registration Statement; provided, that the Company need not disclose any non-public
information to any such person unless and until such person has entered into a confidentiality agreement with the Company; 

(l)    use its reasonable best efforts to cause all such Registrable Shares registered pursuant to this
Agreement to be listed on each securities exchange or nationally recognized quotation system on which the Common Shares are then listed or quoted; 

(m)    use its reasonable best efforts to cause the Registrable Shares 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 to enable the Selling Holders to consummate the disposition of such Registrable Shares; 

(n)    obtain the consent or approval of each governmental agency or authority, whether federal, state,
provincial or local, which may be required to effect the Washington Resale Registration Statement or the offering or sale in connection therewith or to enable the Selling Holders to offer, or consummate the disposition of, their Registrable Shares
in the United States; 
 (o)    provide CUSIP numbers for all Registrable Shares, not later than the
Effective Date; 
 (p)    take all action reasonably necessary to ensure that all Registrable Shares are
eligible for deposit with The Depository Trust Company; 
 (q)    provide a transfer agent and registrar
for all Registrable Shares covered by such registration statement not later than the Effective Date; 

(r)    negotiate in good faith customary agreements and take such other actions as are reasonably requested
by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Shares (including making appropriate officers of the Company available to participate in any “road show”
presentations before analysts, and other customary marketing activities (including one-on-one meetings with prospective purchasers of the Registrable Shares)); 

(s)    if requested by a Selling Holder, (i) as soon as practicable incorporate in a prospectus
supplement or post-effective amendment such Selling Shareholder Information as such Selling Holder reasonably requests to be included therein; provided, however, such Selling Shareholder Information is required by the rules and
regulations of the Commission or pursuant to comments of the Commission staff and (ii) as soon as practicable make all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to be
incorporated in such prospectus supplement or post-effective amendment; and 
 (t)    otherwise use its
reasonable best efforts to take all other actions necessary or advisable to effect the registration of such Registrable Shares contemplated hereby and to ensure that the transactions contemplated herein are effected as so contemplated. 

  
 10 

 Each Selling Holder, upon receipt of notice from the Company of the happening of any event
of the kind described in Section 2.07(f), shall forthwith discontinue offers and sales of the Registrable Shares by means of a prospectus or prospectus supplement until such Selling Holder’s receipt of the copies of
the supplemented or amended prospectus contemplated by Section 2.07(f) or until it is advised in writing by the Company that the use of the prospectus may be resumed and has received copies of any additional or supplemental
filings incorporated by reference in the prospectus, and, if so directed by the Company, such Selling Holder shall, or shall request the Managing Underwriter, if any, to deliver to the Company (at the Company’s expense) all copies in their
possession or control, other than permanent file copies then in such Selling Holder’s possession, of the prospectus covering such Registrable Shares current at the time of receipt of such notice. 

Section 2.08    Cooperation by Holders. The Company shall have no obligation to
include Registrable Shares of a Holder in the Washington Resale Registration Statement who has failed to timely furnish after receipt of a written request from the Company such information that the Company determines, after consultation with its
counsel, is reasonably required in order for the registration statement, prospectus or prospectus supplement, as applicable, to comply with the Securities Act. 

Section 2.09    Restrictions on Public Sale by Holders of Registrable Shares. To
the extent requested by the Managing Underwriter, each Holder of Registrable Shares that participates in an Underwritten Offering will enter into a customary letter agreement with underwriters providing such Holder will not effect any public sale or
distribution of Registrable Shares during the ninety (90) day period beginning on the date of a prospectus or prospectus supplement filed with the Commission with respect to the pricing of any Underwritten Offering, provided that
(i) the duration of the foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the Company or the officers, directors or any other Affiliate of the Company on whom a
restriction is imposed, (ii) the restrictions set forth in this Section 2.09 shall not apply to any Registrable Shares that are included in such Underwritten Offering by such Selling Holder. 

Section 2.10    Expenses. Except as specifically provided herein, all Registration
Expenses incurred in connection with any registration, qualification or compliance hereunder shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder, shall be borne by the holders of the securities
so registered pro rata on the basis of the aggregate offering or sale price of the securities registered. 

Section 2.11    Indemnification. 

(a)    Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the full extent
permitted by law, each Holder of Registrable Shares, each member, limited or general partner thereof, each member, limited or general partner of each such member, limited or general partner, each of their respective Affiliates officers, directors,
shareholders, employees, advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective representatives from and against any and all losses, penalties,
judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively “Losses”) arising out of or
based upon any of the following (each, a “Violation” and collectively “Violations”): (i) any untrue or alleged untrue statement of a material fact contained in any Shelf Registration Statement under which such
Registrable Shares were registered under the Securities Act (including any prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), (ii) any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the circumstances under which they were made) not misleading, (iii) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under 

  
 11 

 
the Securities Act, the Exchange Act, any state securities law in connection with the offering covered by such registration statement or (iv) any actions or inactions or proceedings in
respect of the foregoing whether or not such indemnified party is a party thereto; provided, that the Company shall not be liable to any particular indemnified party (x) to the extent that any such Loss arises out of or is based upon a
Violation that occurs in reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof or (y) to the extent that any such Loss arises out of or is based
upon an untrue statement or omission in a preliminary prospectus relating to Registrable Shares, if a prospectus (as then amended or supplemented) that would have cured the defect was furnished to the indemnified party from whom the Person asserting
the claim giving rise to such Loss purchased Registrable Shares at least five (5) days prior to the written confirmation of the sale of the Registrable Shares to such Person and a copy of such prospectus (as amended and supplemented) was not
sent or given by or on behalf of such indemnified party to such Person at or prior to the written confirmation of the sale of the Registrable Shares to such Person. This indemnity shall be in addition to any liability the Company may otherwise have.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder. 

(b)    Indemnification by Each Holder of Registrable Shares. Each Holder of Registrable Shares agrees (severally
and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors, officers, employees and agents and each Person who controls the Company (within the meaning of the Securities Act or the Exchange
Act) and each member, limited or general partner thereof, each member, limited or general partner of each such member, limited or general partner, each of their respective Affiliates, officers, directors, shareholders, employees, advisors, and
agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective representatives, from and against any Losses resulting from any Violations, in each case, to the extent, but
only to the extent, that such Violation occurs in reliance upon and in conformity with written information furnished to the Company by such Holder (the “Selling Shareholder Information”) expressly for use in the preparation thereof
and has not been corrected in a subsequent writing prior to or concurrently with the sale of the Registrable Shares to the Person asserting the claim. In no event shall the liability of any Holder of Registrable Shares hereunder be greater in amount
than the dollar amount of the net proceeds received by such Holder under the sale of Registrable Shares giving rise to such indemnification obligation. 

(c)    Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give
prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder
only to the extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified
party; provided that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of
such Person unless (A) the indemnifying party has agreed in writing to pay such fees or expenses, (B) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such
claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (C) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses
available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (D) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may
exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party,
the indemnifying party shall not have the right to assume the 

  
 12 

 
defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the
indemnified party. No indemnifying party shall consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an
unconditional release from all liability in respect to such claim or litigation without the prior written consent of such indemnified party. If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any
liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this
Section 2.11(c), in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in
such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel)
that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an
indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels. 

(d)    Contribution. If for any reason the indemnification provided for in paragraphs (a) and (b) of this
Section 2.11 is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a
result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that
resulted in such losses, as well as any other relevant equitable considerations. In connection with the Washington Resale Registration Statement filed with the Commission by the Company, the relative fault of the indemnifying party on the one hand
and the indemnified party on the other hand shall be determined by reference to, among other things, whether any 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 indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it
would not be just or equitable if contribution pursuant to this Section 2.11(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred
to in this Section 2.11(d). 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. The amount paid or payable by an indemnified party as a result of the Losses referred to in Section 2.11(a) and Section 2.11(b) 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 2.11(d), in connection with any Shelf Registration Statement filed by the Company, a selling Holder of Registrable Shares shall not be required to contribute any amount in excess of the dollar amount of the net
proceeds received by such Holder under the sale of Registrable Shares giving rise to such contribution obligation. If indemnification is available under this Section 2.11, the indemnifying parties shall indemnify each
indemnified party to the full extent provided in Section 2.11(a) and Section 2.11(b) hereof without regard to the provisions of this Section 2.11(d). The remedies provided
for in this Section 2.11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

(e)    Other Indemnification. The provisions of this Section 2.11 shall be in addition to
any other rights to indemnification or contribution that an indemnified party may have pursuant to law, equity, contract or otherwise. 

  
 13 

 Section 2.12    Rule 144
Reporting. With a view to making available the benefits of certain rules and regulations of the Commission that may permit the sale of the Registrable Shares to the public without registration, the Company agrees to use its best efforts to,
so long as a Holder owns any Registrable Shares: 
 (a)    make and keep public information regarding the
Company available, as those terms are understood and defined in Rule 144 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect); 

(b)    file with the Commission in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act; 
 (c)    furnish, unless otherwise available
electronically at no additional charge via the Commission’s EDGAR system, to such Holder forthwith upon request a copy of the most recent annual or quarterly report of the Company, and such other reports and documents as such Holder may
reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any Registrable Shares without registration; and 

(d)    take such further action as any Holder may reasonably request to enable such Holder to sell such
Registrable Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions relating to such sale pursuant to Rule 144.

 Section 2.13    Transfer or Assignment of Registration Rights. The rights to
cause the Company to register Registrable Shares granted to the Holders by the Company under this Article II may be transferred or assigned by a Holder to one or more transferees or assignees of Registrable Shares without the consent of the
Company prior to the initial filing of the Washington Resale Registration Statement; provided, however, that (i) the Company is given written notice of said transfer or assignment, stating the name and address of each of the
transferee or assignee and identifying the Registrable Shares with respect to which such registration rights are being transferred or assigned, (ii) such transferee or assignee is an Affiliate or subsidiary of the Washington Entities and
(iii) each such transferee or assignee assumes in writing responsibility for its portion of the obligations of the Holder under this Agreement. 

Section 2.14    Limitation on Subsequent Registration Rights. From and after the
date hereof, the Company shall not, without the prior written consent of the Holders (i) grant any registration rights to third parties which are more favorable than or inconsistent with the rights granted hereunder; or (ii) enter into any
agreement, take any action, or permit any change to occur, with respect to their respective securities or organizational documents that violates or subordinates the rights expressly granted to the Holders of Registrable Shares in this Agreement.

 ARTICLE III 

MISCELLANEOUS 

Section 3.01    Communications. All notices and other communications in
connection with this Agreement shall be in writing and shall be deemed given (and shall be deemed to have been duly given upon receipt) if delivered personally, sent via electronic transmission or facsimile (with confirmation), mailed by registered
or certified mail (return receipt requested) or delivered by an express courier (with confirmation) to the parties at the following addresses (or at such other address for a party as will be specified by like notice): 

(a)    if to the Company: 

Seaspan Corporation 

Unit 2, 2nd Floor, Bupa Centre 

141 Connaught Road West 

Hong Kong 

Facsimile: 852-2540-1689 

Attention: Chief Executive Officer 

  
 14 

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

White & Case LLP 

1221 Avenue of the Americas 

New York, New York 10020 

Facsimile: 212-354-8113 

Attention: Andrew Weisberg 

(b)    if to the Holders: 

Deep Water Holdings, LLC 

c/o Washington Corporations 

101 International Drive 

P.O. Box 16630 

Missoula, MT 59808 

Fax: (406) 523-1399 

Kyle Roy Washington 2014 Trust 

c/o Copper Lion, Inc. 

199 East Pearl Ave., Suite 102 

P.O. Box 2490 

Jackson, WY 83001 

Fax: (406) 523-1399 

Kevin Lee Washington 2014 Trust 

c/o Copper Lion, Inc. 

199 East Pearl Ave., Suite 102 

P.O. Box 2490 

Jackson, WY 83001 

Fax: (406) 523-1399 

  
 15 

 Kyle Roy Washington 2005 Irrevocable Trust u/a/d July 15, 2005 

c/o Copper Lion, Inc. 

199 East Pearl Ave., Suite 102 

P.O. Box 2490 

Jackson, WY 83001 

Fax: (406) 523-1399 

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

K&L Gates LLP 

925 Fourth Avenue, Suite 2900 

Seattle, WA 98104-1158 

Fax: (206) 370-6040 

Attention: Christopher H. Cunningham 

Section 3.02    Successor and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors and permitted assigns of each of the parties, including subsequent Holders of Registrable Shares to the extent permitted herein. 

Section 3.03    Assignment of Rights. All or any portion of the rights and
obligations of the Holders under this Agreement may be transferred or assigned by a Holder only in accordance with Section 2.13 hereof. 

Section 3.04    Recapitalization, Exchanges, Etc. Affecting the Common Shares. The
provisions of this Agreement shall apply to the full extent set forth herein with respect to any and all equity interests of the Company or any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) that
may be issued in respect of, in exchange for or in substitution of, the Registrable Shares, and shall be appropriately adjusted for combinations, share splits, recapitalizations, pro rata distributions of shares and the like occurring after the date
of this Agreement. 
 Section 3.05    Counterparts. This Agreement may be
executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each Party and delivered to each other party, it being understood
that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf’ format data file, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf’ signature page were an original thereof. 

Section 3.06    Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 

Section 3.07    Governing Law; Jurisdiction. This Agreement, including all issues
and questions concerning its application, construction, validity, interpretation and enforcement, shall be construed in accordance with, and governed by, the laws of the State of New York. EACH OF THE PARTIES HERETO CONSENTS TO SUBMIT ITSELF TO THE
EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN AND ANY UNITED STATES FEDERAL COURTS LOCATED IN THE SOUTHERN DISTRICT OF NEW YORK, WITH RESPECT TO ANY CLAIM OR CAUSE OF ACTION ARISING UNDER OR
RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY, AND WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT, AND AGREES THAT ALL SERVICE OF PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN

  
 16 

 
RECEIPT REQUESTED, DIRECTED TO IT AT ITS ADDRESS AS SET FORTH IN Section 3.01, AND THAT SERVICE SO MADE SHALL BE TREATED AS COMPLETED WHEN RECEIVED. EACH OF THE PARTIES
HERETO WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND WAIVES ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED IN ANY SUCH COURT. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, PROCEEDING,
OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THE NEGOTIATION, ADMINISTRATION, PERFORMANCE, AND ENFORCEMENT HEREOF. NOTHING IN THIS
Section 3.07 SHALL AFFECT THE RIGHT OF THE PARTIES HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. NOTWITHSTANDING THE FOREGOING, EACH OF THE PARTIES HERETO AGREES THAT EACH OF THE OTHER PARTIES HERETO
SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING FOR ENFORCEMENT OF A JUDGMENT ENTERED BY A COURT PERMITTED BY THIS Section 3.07 IN ANY OTHER COURT OR JURISDICTION. 

Section 3.08    Waiver of Immunity. To the extent that the Company or any Holder
has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice,
attachment in aid or otherwise) with respect to itself or any of its property, the Company and such Holder hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations under this Agreement. 

Section 3.09    Judgment Currency. If for the purposes of obtaining judgment in
any court it is necessary to convert a sum due hereunder into any currency other than U.S. dollars, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be the rate at which in
accordance with normal banking procedures such Holder could purchase U.S. dollars with such other currency in The City of New York on the Business Day preceding that on which final judgment is given. The obligations of the Company in respect of any
sum due from them to any Holder shall, notwithstanding any judgment in any currency other than U.S. dollars, not be discharged until the first Business Day, following receipt by such Holder of any sum adjudged to be so due in such other currency, on
which (and only to the extent that) such Holder may in accordance with normal banking procedures purchase U.S. dollars with such other currency; if the U.S. dollars so purchased are less than the sum originally due to such Holder hereunder, the
Company agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Holder against such loss. If the U.S. dollars so purchased are greater than the sum originally due to such Holder hereunder, such Holder agrees to pay
to the Company an amount equal to the excess of the U.S. dollars so purchased over the sum originally due to such Holder hereunder. 

Section 3.10    Severability of Provisions. Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or
enforceability of such provision in any other jurisdiction. 
 Section 3.11    Entire
Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter
contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the rights granted by the Company set forth herein. This Agreement supersedes all prior agreements
and understandings between the parties with respect to such subject matter, including any agreements among the Company and the Holders (or their predecessors, successors or affiliates) relating to any registration rights of the Holders (or their
predecessors, successors or affiliates) with respect to the Company’s share capital. 

  
 17 

 Section 3.12    Amendment. This
Agreement may be amended only by means of a written amendment signed by the Company and the Washington Entities; provided, however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without
the prior written consent of such Holder. 
 Section 3.13    No Presumption. If
any claim is made by a party relating to any conflict, omission or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a
particular party or its counsel. 
 Section 3.14    Obligations Limited to Parties to
Agreement. Each of the parties hereto covenants, agrees and acknowledges that no Person other than the Holders (and their permitted transferees and assignees) and the Company shall have any obligation hereunder. No recourse under this
Agreement or under any documents or instruments delivered in connection herewith or therewith shall be had against any former, current or future director, officer, employee, investment manager, agent, general or limited partner, manager, member,
investor or Affiliate of any Holder or any former, current or future director, officer, employee, investment manager, agent, general or limited partner, manager, member, investor or Affiliate thereof, whether by the enforcement of any assessment or
by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any former, current or future
director, officer, employee, investment manager, agent, general or limited partner, manager, member, investor or Affiliate of the Holder or any former, current or future director, officer, employee, investment manager, agent, general or limited
partner, manager, member, investor or Affiliate thereof, as such, for any obligations of the Holder under this Agreement or any documents or instruments delivered in connection herewith or therewith or for any claim based on, in respect of or by
reason of such obligation or its creation, except in each case for any transferee or assignee of a Holder hereunder. 

Section 3.15    Interpretation. Article and Section references are to this
Agreement, unless otherwise specified. The terms defined in this Agreement include the plural as well as the singular. All references to instruments, documents, contracts and agreements are references to such instruments, documents, contracts and
agreements as the same may be amended, supplemented and otherwise modified from time to time, unless otherwise specified. The words “include,” “includes” and “including” or words of similar import shall be deemed to be
followed by the words “without limitation.” Whenever any determination, consent or approval is to be made or given by the Holders (and their permitted transferees or assignees) under this Agreement, such action shall be in each such
Holder’s (and its permitted transferees or assignees) sole discretion unless otherwise specified. Unless expressly set forth or qualified otherwise (e.g., by “Business”), all references herein to a “day” are
deemed to be a reference to a calendar day. 
 Section 3.16    Injunctive
Relief. It is hereby agreed and acknowledged that it shall be impossible to measure in money the damages that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any
such failure, an aggrieved Person shall be irreparably damaged and shall not have an adequate remedy at law. Any such Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity or under this
Agreement) to injunctive relief, including, without limitation, specific performance, to enforce such obligations, and if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall
raise the defense that there is an adequate remedy at law. 
 [Signature pages follow] 

  
 18 

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

SEASPAN CORPORATION 
  

			
	
		
		 	/s/ Bing Chen
		 	Name: Bing Chen
		 	Title: President and Chief Executive Officer

 [Signature Page to Washington Entities Registration Rights Agreement] 

			
	COPPER LION, INC.
	
	 /s/ Christopher Hawks

	By:	 	Christopher Hawks
		 	Title:  President
	
	DEEP WATER HOLDINGS, LLC
	
	 /s/ Lawrence R. Simkins

	 By:
	 	Lawrence R. Simkins
		 	Title:  Manager
	
	THE KEVIN LEE WASHINGTON 2014 TRUST
	
	 /s/ Christopher Hawks

	By:	 	Copper Lion, Inc.
		 	Name:  Christopher Hawks
		 	Title:    Trustee
	
	KYLE ROY WASHINGTON 2005 IRREVOCABLE TRUST U/A/D/ JULY 15, 2005
	
	 /s/ Christopher Hawks

	By:	 	Copper Lion, Inc.
		 	Name:  Christopher Hawks
		 	Title:    Trustee
	
	THE KYLE ROY WASHINGTON 2014 TRUST
	
	 /s/ Christopher Hawks

	By:	 	Copper Lion, Inc.
		 	Name:  Christopher Hawks
		 	Title:    Trustee

  
  

[Signature Page to Washington Entities Registration Rights Agreement]

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