Document:

Exhibit 10.2

 

Exhibit
F

to

Merger Agreement

 

FORM OF

LOCK-UP AGREEMENT

 

THIS LOCK-UP AGREEMENT
(this “Agreement”) is made as of [●], 2018 by and among Bison Capital Acquisition Corp.,
a Delaware corporation, which will be known after the consummation of the transactions contemplated by the Merger Agreement (as
defined below) as “Xynomic Pharmaceuticals Holdings, Inc.” (including any successor
entity thereto, “Parent”), and the undersigned (“Holder”). Any capitalized
term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS, on
[●], 2018, Parent entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance with
the terms thereof, the “Merger Agreement”), by and among (i) Parent, (ii) Xynomic Pharmaceuticals,
Inc., a Delaware corporation (the “Company”), (iii) Bison Capital Merger Sub Inc., a Delaware corporation
and wholly owned subsidiary of Parent (“Merger Sub”), and (iv) Yinglin Mark Xu, solely in his capacity
as the Stockholders Representative of the Company, pursuant to which, among other things, Merger Sub will merge with and into the
Company, with the Company continuing as the surviving entity and a wholly-owned subsidiary of Parent (the “Merger”),
and as a result of which, among other matters, all of the issued and outstanding shares of capital stock of the Company, immediately
prior to the consummation of the Merger (the “Closing”), will be cancelled and exchanged for Merger Consideration
Shares, subject to the withholding of the Escrow Shares and Earnout Parent Share Consideration being deposited in the Escrow Account
in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement, and each outstanding Company option
will be assumed by Parent and automatically converted into an option exercisable into Parent Ordinary Shares (as equitably adjusted),
all upon the terms and subject to the conditions set forth in the Merger Agreement;

 

WHEREAS, immediately
prior to the Closing, Holder is a holder of shares of capital stock of the Company; and

 

WHEREAS, pursuant
to the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, including the rights under
the Amended and Restated Registration Rights Agreement by and among Parent, Sponsor and the Investors listed on Exhibit A
thereto, that is to be entered into on or about the date hereof in connection with the Merger Agreement (the “Amended
and Restated Registration Rights Agreement”), Parent and Holder desire to enter into this Agreement, pursuant to
which the Merger Consideration Shares and Escrow Shares received by Holder in the Merger (all such securities, together with any
securities paid as dividends or distributions with respect to such securities or into which such securities are exchanged or converted,
the “Restricted Securities”), Holder has agreed to certain limitations on disposition of the Restricted
Securities as set forth herein.

 

     

     

    

 

NOW, THEREFORE,
in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending
to be legally bound hereby, the parties hereby agree as follows:

 

1. Lock-Up
Provisions.

 

(a) Holder
hereby agrees not to, during the period commencing from the Closing and, with respect to the Restricted Securities, ending on the
date that is nine (9) months after the Closing Date (the “Lock-Up Period”):

 

		(i)	lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any Restricted Securities;

 

		(ii)	enter into any swap, short sale, hedge or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of the Restricted Securities;

 

		(iii)	publicly disclose the intention to do any of the foregoing, whether any such transaction described
in clauses (i) or (ii) above is to be settled by delivery of Restricted Securities or other securities, in cash or otherwise
(any of the foregoing described in clauses (i), (ii), or (iii), a “Prohibited Transfer”); or

 

		(iv)	make any demand for or exercise any right with respect to the registration of any shares of Parent
Ordinary Shares or any security convertible into or exercisable or exchangeable for Parent Ordinary Shares.

 

The restrictions and obligations contemplated
by this Agreement shall not apply to:

 

(b) transfers
of the Holder’s Restricted Securities (other than Escrow Shares and any shares of Earnout Parent Share Consideration until
such Escrow Shares and such shares of Earnout Parent Share Consideration are disbursed to Holder from the Escrow Account in accordance
with the Merger Agreement and the Escrow Agreement):

 

		(i)	if the undersigned is a natural person, (A) to any person related to the undersigned
by blood or adoption who is an immediate family member of the undersigned, or by marriage or domestic partnership (a “Family
Member”), or to a trust formed for the benefit of the undersigned or any of the undersigned’s Family Members,
(B) to the undersigned’s estate, following the death of the undersigned, by will, intestacy or other operation of law,
(C) as a bona fide gift to a charitable organization, (D) by operation of law pursuant to a qualified domestic order
or in connection with a divorce settlement or (E) to any partnership, corporation or limited liability company which is controlled
by the undersigned and/or by any such Family Member(s);

 

    	 	2	 

     

    

 

		(ii)	if the undersigned is a corporation, partnership or other business entity, (A) to
another corporation, partnership or other business entity that is an affiliate (as defined under Rule 12b-2 of the Exchange
Act) of the undersigned, including investment funds or other entities under common control or management with the undersigned,
(B) as a distribution or dividend to equity holders (including, without limitation, general or limited partners and members)
of the undersigned (including upon the liquidation and dissolution of the undersigned pursuant to a plan of liquidation approved
by the undersigned’s equity holders) or (C) as a bona fide gift to a charitable organization; or

 

		(iii)	if the undersigned is a trust, to any grantors or beneficiaries of the trust;

 

provided that, in the case
of any transfer or distribution pursuant to this clause (b), such transfer is not for value and each donee, heir, beneficiary
or other transferee or distributee shall sign and deliver to Parent a lock-up agreement in the form of this Agreement with respect
to the shares of Parent Ordinary Shares or such other securities that have been so transferred or distributed;

 

(c) the
exercise of an option (including a net or cashless exercise of an option) to purchase shares of Parent Ordinary Shares, and any
related transfer of shares of Parent Ordinary Shares to Parent for the purpose of paying the exercise price of such options or
for paying taxes (including estimated taxes) due as a result of the exercise of such options (or the disposition to Parent of any
shares of restricted stock granted pursuant to the terms of any employee benefit plan or restricted stock purchase agreement);
provided that, for the avoidance of doubt, the underlying shares of Parent Ordinary Shares shall continue to be subject
to the restrictions on transfer set forth in this Agreement; or

 

(d) transfers
by the undersigned of shares of Parent Ordinary Shares purchased by the undersigned on the open market following the Closing Date;

 

and provided, further,
that, with respect to each of (a) and (b), no filing by any party (including any donor, donee, transferor, transferee, distributor
or distributee) under the Exchange Act or other public announcement shall be required or shall be made voluntarily in connection
with such transfer or disposition during the Lock-Up Period (other than (i) any exit filings or public announcements that
may be required under applicable federal and state securities laws or (ii) in respect of a required filing under the Exchange
Act in connection with the exercise of an option to purchase Parent Ordinary Shares following such individual’s termination
of employment with Parent that would otherwise expire during the Lock-Up Period, provided that reasonable notice shall be provided
to Parent prior to any such filing).

 

    	 	3	 

     

    

 

2. If
any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer shall
be null and void ab initio, and Parent shall refuse to recognize any such purported transferee of the Restricted Securities
as one of its equity holders for any purpose. In order to enforce this Section 2, Parent may impose stop-transfer instructions
with respect to the Restricted Securities of Holder (and permitted transferees and assigns thereof) until the end of the Lock-Up
Period.

 

3. During
the Lock-Up Period (and with respect to any Escrow Shares, if longer, during the period when such Escrow Shares are held in the
Escrow Account), each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a legend in
substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF [●], 2018, BY AND AMONG
THE ISSUER OF SUCH SECURITIES (“PARENT”) AND PARENT’S STOCKHOLDER NAMED THEREIN, AS AMENDED. A COPY OF SUCH LOCK-UP
AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY PARENT TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

4. For
the avoidance of any doubt, Holder shall retain all of its rights as a stockholder of Parent during the Lock-Up Period, including
the right to vote any Restricted Securities.

 

5. The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Agreement. All
authority herein conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors,
assigns, heirs or personal representatives of the undersigned.

 

6. Miscellaneous.

 

(a) Closing.
Notwithstanding anything to the contrary contained herein, this Agreement and all rights and obligations of the parties hereunder
shall be of no force or effect until and unless the Closing occurs pursuant to the Merger Agreement.

 

(b) Binding
Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder are personal to Holder
and may not be transferred or delegated by Holder at any time. The Parent may freely assign any or all of its rights under this
Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise)
without obtaining the consent or approval of Holder.

 

(c) Governing
Law; Jurisdiction. The terms and provisions of this Agreement shall be construed and enforced in accordance with the
laws of the State of New York without reference to its conflict of law provisions. Each of the parties hereto irrevocably consents
to the exclusive jurisdiction and venue of any state or federal court located in New York County, New York (or in any court in
which appeal from such courts may be taken) in connection with any matter based upon or arising out of this Agreement or the matters
contemplated herein, agrees that process may be served upon them in any manner authorized by the laws of the State of New York
for such Persons and waives and covenants not to assert or plead any objection which they might otherwise have to such jurisdiction,
venue and such process.

 

    	 	4	 

     

    

 

(d) WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6(d).

 

(e) Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting
this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(f) Notices.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be completed
in accordance with Section 6.2 of the Amended and Restated Registration Rights Agreement.

 

(g) Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Parent and
Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions
to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further
or continuing waiver of any such term, condition, or provision.

 

(h) Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall
be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby
nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid,
illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable,
the intent and purpose of such invalid, illegal or unenforceable provision.

 

    	 	5	 

     

    

 

(i) Specific
Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event
of a breach of this Agreement by Holder, money damages may be inadequate and Parent may have not adequate remedy at law, and agrees
that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by Holder in accordance
with their specific terms or were otherwise breached. Accordingly, Parent shall be entitled to seek an injunction or restraining
order to prevent breaches of this Agreement by Holder and to seek to enforce specifically the terms and provisions hereof, without
the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition to
any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

 

(j) Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties with respect to the
subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
is expressly canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations
of the parties under the Merger Agreement or any Transaction Document, including the Amended and Restated Registration Rights Agreement.
Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Parent or any of the obligations
of Holder under any other agreement between Holder and Parent or any certificate or instrument executed by Holder in favor of Parent,
and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of Parent or any of the
obligations of Holder under this Agreement.

 

(k) Further
Assurances. From time to time, at another party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action as
may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(l) Counterparts;
Facsimile. This Agreement may also be executed and delivered by facsimile signature or by email in portable document format
in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.

 

[Signature Pages Follow]

 

    	 	6	 

     

    

 

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

 

	 	PARENT:
	 	 	 
	 	BISON CAPITAL ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name: 	James Jiayuan Tong
	 	Title:	Chief Executive Officer

 

[Signature
Page to Lock-Up Agreement]

 

     

     

    

 

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

 

HOLDER:

 

[Name of the Holder]

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

[Signature Page to Lock-Up Agreement]Exhibit 10.3

 

EXHIBIT G

to 

Merger Agreement

 

FORM OF

 

AMENDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT

 

THIS AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of [●], 2018, by and among
Bison Capital Acquisition Corp., a Delaware corporation, which will be known after the consummation of the transactions contemplated
by the Merger Agreement as “Xynomic Pharmaceuticals Holdings, Inc.” (the “Company”), Bison
Capital Holding Company Limited, a company incorporated in the Cayman Islands (the “Sponsor”), each of
the undersigned parties listed under “Existing Investors” on Exhibit A hereto, each of which holds Existing
Registrable Securities (collectively, with the Sponsor, the “Existing Investors”), and the undersigned
parties listed under “New Investors” on Exhibit A hereto (each, a “New Investor” and
collectively, with the Existing Investors, the “Investors”). Any capitalized term used but not defined
in this Agreement will have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS, each of the
Company and the Existing Investors is a party to, and hereby consents to, this amendment and restatement of that certain registration
rights agreement, dated June 19, 2017 (the “Original Registration Rights Agreement”), pursuant
to which the Company granted the Existing Investors certain registration rights with respect to certain securities of the Company,
as set forth therein;

 

WHEREAS, certain of
the Existing Investors collectively hold 1,509,375 shares of the outstanding Company Shares (defined below) of the Company issued
prior to the consummation of the Company’s initial public offering (the “Initial Shares”);

 

WHEREAS, certain of
the Existing Investors are privately holding 432,063 Units issued simultaneously with the consummation of the Company’s initial
public offering (the “Private Units”);

 

WHEREAS, on [●],
2018, the Company entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance with the terms
thereof, the “Merger Agreement”), by and among (i) the Company, (ii) Xynomic Pharmaceuticals,
Inc., a Delaware corporation (“Xynomic”), (iii) Bison Capital Merger Sub Inc., a Delaware corporation
and wholly owned subsidiary of the Company (“Merger Sub”), and (iv) Yinglin Mark Xu, an individual
residing in Shanghai, China, solely in his capacity as the Stockholders Representative of Xynomic, pursuant to which, among other
things, Merger Sub will merge with and into Xynomic, with Xynomic continuing as the surviving entity and a wholly-owned subsidiary
of the Company (the “Merger”), and as a result of which, among other matters, all of the issued and outstanding
shares of capital stock of Xynomic, immediately prior to the consummation of the Merger (the “Closing”),
will be cancelled and exchanged for Merger Consideration Shares, subject to the withholding of the Escrow Shares being deposited
in the Escrow Account in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement, and each outstanding
Xynomic option will be assumed by the Company and automatically converted into an option exercisable into Company Shares (as equitably
adjusted), all upon the terms and subject to the conditions set forth in the Merger Agreement;

 

    	 	1	 

     

    

 

WHEREAS, in connection
with the Closing under the Merger Agreement, each New Investor is also entering into a Lock-Up Agreement, dated as of the date
hereof (each, as it may be amended, a “Lock-Up Agreement”), with the Company, pursuant to which such
New Investor is agreeing to certain restrictions on the transfer of the Merger Consideration Shares received by such New Investor;

 

WHEREAS, the Investors
and the Company desire to enter into this Agreement in connection with the closing of the transactions contemplated by the Merger
Agreement to amend and restate the Original Registration Rights Agreement to provide certain registration rights with respect to
certain securities of the Company, on the terms and conditions set forth in this Agreement;

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree that the Original Registration Rights Agreement is hereby
amended and restated in its entirety as follows: 

 

1. DEFINITIONS.
The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Class
of Registrable Securities” means, as applicable, each of (i) the Private Units (or underlying Company Shares), (ii)
the Working Capital Units (or underlying Company Shares), (iii) the Initial Shares and (iv) the Merger Consideration Shares, in
each case to the extent constituting Registrable Securities.

 

“Closing”
is defined in the recitals to this Agreement.

 

“Closing
Date” means the date the Closing occurs.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange
Act.

 

“Company”
is defined in the preamble to this Agreement.

 

“Company
Shares” shares of common stock of the Company, par value $0.0001 per share.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Demanding
Holder” is defined in Section 2.1.1.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, all as the same shall be in effect at the time.

 

“Existing
Registrable Securities” means (i) all of the Initial Shares, (ii) all of the Private Units (and underlying Company
Shares) and (iii) all of the Working Capital Units (and underlying Company Shares).

 

“Form S-3”
is defined in Section 2.3.

 

    	 	2	 

     

    

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Initial
Shares” is defined in the preamble to this Agreement.

 

“Investor”
is defined in the preamble to this Agreement.

 

“Investor
Indemnified Party” is defined in Section 4.1.

 

“Lock-Up
Agreement” is defined in the recitals to this Agreement.

 

“Lock-Up
Release Date” means the date on which the Lock-Up Period (as defined in the applicable Lock-Up Agreement) under the
applicable Lock-Up Agreement has ended for all Registrable Securities to which it applies.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

 

“Merger”
is defined in the recitals to this Agreement.

 

“Merger
Agreement” is defined in the recitals of this Agreement.

 

“Merger
Consideration Shares” is defined in the Merger Agreement.

 

“Notices”
is defined in Section 6.2

 

“Option
Securities” is defined in Section 2.1.4.

 

“Original
Registration Rights Agreement” is defined in the recitals to this Agreement.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

“Private
Units” is defined in the preamble to this Agreement.

 

“Register,”
“Registered” and “Registration” means a registration effected by preparing
and filing a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable
rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

“Registrable
Securities” means (1) all of the Existing Registrable Securities and (2) all of the Merger Consideration Shares.
Registrable Securities include any warrants, options, share capital or other securities of the Company issued as a dividend or
other distribution with respect to or in exchange for or in replacement of any Existing Registrable Securities and Merger Consideration
Shares. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been or may be sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such
securities shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall
have been delivered by the Company and subsequent public distribution of them shall not require registration under the Securities
Act; (c) such securities shall have ceased to be outstanding, or (d) the Registrable Securities are freely saleable under Rule
144 without volume limitations. Notwithstanding anything to the contrary contained herein, a person shall be deemed to be
a “holder of Registrable Securities” under this Agreement only if they are an Investor or a transferee of the Registrable
Securities (so long as they remain Registrable Securities) of any Investor permitted under this Agreement and the applicable Lock-Up
Agreement. 

 

    	 	3	 

     

    

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities
Act and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or
other obligations exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement
on Form S-4 or Form S-8, or their successors, or in connection with a confidentially marketed public offering, or any registration
statement covering only securities proposed to be issued in exchange for securities or assets of another entity).

 

“Release
Date” means the date on which the Initial Shares are expected to be disbursed to the Investors from escrow pursuant
to Section 3 of that certain Share Escrow Agreement dated as of June 19, 2017 by and among certain of the Investors and Continental
Stock Transfer & Trust Company.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of
such dealer’s market-making activities.

 

“Units”
means the units of the Company, each comprised of one Company Share, one right to receive one-tenth of one Company Share automatically
on the consummation of an initial business combination, and one Warrant to purchase one half of one Company Share.

 

“Warrants” means
the warrants of the Company underlying the Units, each to purchase one half of one Company Share.

 

“Working
Capital Units” means any Units held by Investors, officers or directors of the Company or their affiliates which
may be issued in payment of working capital loans made to the Company.

 

“Xynomic”
is defined in the preamble to this Agreement.

 

2. REGISTRATION
RIGHTS.

 

2.1. Demand Registration.

 

2.1.1. Request for
Registration. Subject to Section 2.4, at any time and from time to time on or after (i) the one (1) month anniversary
of the Closing Date with respect to the Private Units (or underlying Company Shares) or Working Capital Units (or underlying Company
Shares), (ii) three months prior to the Release Date with respect to Initial Shares or (iii) nine months after the Closing date
with respect to the Merger Consideration Shares, the holders of a majority of all of the Existing Registrable Securities or the
Merger Consideration Shares, calculated on an as-converted to Company Shares basis, may make a written demand for registration
under the Securities Act of all or part of their Registrable Securities, as the case may be, that are not currently registered
(a “Demand Registration”). Any demand for a Demand Registration shall specify the number of Registrable
Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify all other holders of
Registrable Securities of the demand within twenty (20) days following receipt of any request for a Demand Registration, and each
holder of Registrable Securities who wishes to include all or a portion of such holder’s Registrable Securities in the Demand
Registration (each such holder demanding to include shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company within fifteen (15) days after the receipt by the holder of the notice from
the Company. Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the
Demand Registration, subject to Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not
be obligated to effect more than two (2) Demand Registration in any one (1) year period or more than an aggregate of three (3)
Demand Registrations for any Registrable Securities under this Section 2.1.1 except that Escrow Shares that are then Registrable
Securities following their release to their holders may have one (1) Demand Registration.  

 

    	 	4	 

     

    

 

2.1.2. Effective
Registration. A registration will not count as a Demand Registration until the Registration Statement filed with the Commission
with respect to such Demand Registration has been declared effective and the Company has complied with all of its obligations under
this Agreement with respect thereto; provided, however, that if, after such Registration Statement has been declared
effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction
of the Commission or any other governmental agency or court, the Registration Statement with respect to such Demand Registration
will be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or
otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter elect to continue the offering; provided,
further, that the Company shall not be obligated to file a second Registration Statement until a Registration Statement
that has been filed is counted as a Demand Registration or is terminated. 

 

2.1.3. Underwritten
Offering. If the holders of a majority of all of the Registrable Securities held by the Demanding Holders, calculated on an
as-converted to Company Shares basis, so elect and such holders so advise the Company as part of their written demand for a Demand
Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten
offering. In such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned
upon such holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities in
the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their Registrable Securities through
such underwriting shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for
such underwriting mutually agreed by the Company and such holders. 

 

2.1.4. Reduction
of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering advises
the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the
Demanding Holders desire to sell, taken together with all other Company Shares or other securities which the Company desires to
sell and the Company Shares, if any, as to which registration by the Company has been requested pursuant to written contractual
piggy-back registration rights held by other security holders of the Company who desire to sell, exceeds the maximum dollar amount
or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the timing,
the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of shares,
as applicable, the “Maximum Number of Shares”), then the Company shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders pro rata in accordance
with the number of securities that each such person has requested be included in such registration, regardless of the number of
shares held by each such person (such proportion is referred to herein as “Pro Rata”) that can be sold
without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (i), the Company Shares or other securities that the Company desires to sell, for its own account, that
can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares have not
been reached under the foregoing clauses (i) and (ii), the Company Shares or other securities registrable pursuant to the terms
of the Unit Purchase Option issued to EarlyBirdCapital, Inc. or its designees in connection with the Company’s initial public
offering (the “Unit Purchase Option” and such registrable securities, the “Option Securities”)
as to which “piggy-back” registration has been requested by the holders thereof, Pro Rata, that can be sold without
exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares have not been reached
under the foregoing clauses (i), (ii), and (iii), the Company Shares or other securities for the account of other persons that
the Company is obligated to register pursuant to written contractual arrangements with such persons with effective dates after
the date of this Agreement and that can be sold without exceeding the Maximum Number of Shares. 

 

    	 	5	 

     

    

 

2.1.5. Withdrawal.
If holders of a majority of the shares held by the Demanding Holders, calculated on an as-converted Company Share basis, disapprove
of the terms of any underwriting or are not entitled to include all of their Registrable Securities in any offering, such Demanding
Holders may elect to withdraw from such offering by giving written notice to the Company and the Underwriter or Underwriters of
their request to withdraw prior to the effectiveness of the Registration Statement filed with the Commission with respect to such
Demand Registration. If holders of a majority of the shares held by the Demanding Holders, calculated on an as-converted Company
Share basis, withdraw from a proposed offering relating to a Demand Registration, then such registration shall not count as a Demand
Registration provided for in Section 2.1. 

 

2.2. Piggy-Back Registration.

 

2.2.1. Piggy-Back
Rights. Subject to Section 2.4, if at any time on or after the Closing Date the Company proposes to file a Registration Statement
under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into, equity securities, by the Company for its own account or for security holders of the Company for their
account (or by the Company and by security holders of the Company including, without limitation, pursuant to Section 2.1), other
than a Registration Statement (i) filed in connection with any employee share option or other benefit plan, (ii) for an exchange
offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible
into equity securities of the Company, (iv) for a confidentially marketed public offering, or (v) for a dividend reinvestment plan,
then the Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable
but in no event less than three (3) days before the anticipated filing date, which notice shall describe the amount and type of
securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter
or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity
to register the sale of such number of shares of Registrable Securities as such holders may request in writing within three (3)
days following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such Registrable
Securities to be included in such registration and shall use commercially reasonable efforts to cause the managing Underwriter
or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back
Registration on the same terms and conditions as any similar securities of the Company and to permit the sale or other disposition
of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities
proposing to distribute their securities through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter
into an underwriting agreement in customary form with the Underwriter or Underwriters selected for such Piggy-Back Registration.

 

    	 	6	 

     

    

 

2.2.2. Reduction
of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Company and the holders of Registrable Securities proposing to distribute their Registrable Securities through such
Piggy-Back Registration in writing that the dollar amount or number of Company Shares which the Company desires to sell, taken
together with Company Shares, if any, as to which registration has been demanded pursuant to written contractual arrangements with
persons other than the holders of Registrable Securities hereunder, the Registrable Securities as to which registration has been
requested under this Section 2.2, and the Company Shares, if any, as to which registration has been requested pursuant to
the written contractual piggy-back registration rights of other security holders of the Company, exceeds the Maximum Number of
Shares, then the Company shall include in any such registration: 

 

(a) If the registration
is undertaken for the Company’s account: (i) first, the Company Shares or other securities that the Company desires to sell,
for its own account, that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clause (i), the Company Shares or other securities comprised of Registrable
Securities and Option Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof and of the
Unit Purchase Option, as applicable, that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent
that the Maximum Number of shares has not been reached under the foregoing clauses (i) and (ii), the Company Shares or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual piggy-back registration
rights with such persons in effect as of the date of this Agreement, and that can be sold without exceeding the Maximum Number
of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i),
(ii), and (iii), the Company Shares or other securities for the account of other persons that the Company is obligated to register
pursuant to written contractual arrangements with such persons with effective dates after the date of this Agreement, and that
can be sold without exceeding the Maximum Number of Shares; and

 

(b) If the registration
is a “demand” registration undertaken at the demand of holders of Option Securities, (i) first, the Company Shares
or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding the Maximum Number of
Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Company
Shares or other securities that the Company desires to sell, for its own account, that can be sold without exceeding the Maximum
Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses
(i) and (ii), the shares of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to the terms
hereof, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (i), (ii) and (iii), the Company Shares or other securities for the
account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons,
that can be sold without exceeding the Maximum Number of Shares; and

 

(c) If the registration
is a “demand” registration undertaken at the demand of persons other than either the holders of Registrable Securities
or of Option Securities, (i) first, the Company Shares or other securities for the account of the demanding persons that can be
sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (i), the Company Shares or other securities that the Company desires to sell, for its own account,
that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (i) and (ii), the Company Shares or other securities comprised of Registrable Securities
and Option Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof and of the Unit Purchase
Option, as applicable, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and (iii), the Company Shares or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such
persons, that can be sold without exceeding the Maximum Number of Shares.

 

    	 	7	 

     

    

 

2.2.3. Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of
the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a
demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness
of such Registration Statement without any liability to the applicable Investor, subject to this Section 2.2.3 and Section
4. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities
in connection with such Piggy-Back Registration as provided in Section 2.2 by the holders of Registrable Securities that
have requested to have their Registrable Securities included in such Piggy-Back Registration. 

 

2.3. Registrations
on Form S-3. Subject to Section 2.4, after the Closing Date, the holders of a majority of all of the Existing Registrable
Securities or the Merger Consideration Shares calculated on an as-converted to Company Shares basis may at any time and from time
to time, request in writing that the Company register the resale of any or all of such Registrable Securities on Form S-3 or any
similar short-form registration which may be available at such time (“Form S-3”); provided, however,
that the Company shall not be obligated to effect such request through an underwritten offering and may choose in its sole discretion
to substitute Form S-1, if available, for Form S-3. Upon receipt of such written request, the Company will promptly give written
notice of the proposed registration to all other holders of Registrable Securities, and, as soon as practicable thereafter, effect
the registration of all or such portion of such holder’s or holders’ Registrable Securities as are specified in such
request, together with all or such portion of the Registrable Securities or other securities of the Company, if any, of any other
holder or holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of
such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such
registration pursuant to this Section 2.3: (i) if Form S-3 is not available to the Company for the full amount of such offering;
or (ii) if the holders of the Registrable Securities, together with the holders of any other securities of the Company entitled
to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at any aggregate price
to the public of less than $2,000,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand
Registrations effected pursuant to Section 2.1.

 

2.4. Restriction of
Offerings. Notwithstanding anything to the contrary contained in this Agreement, the New Investors and holders of the Initial
Shares shall not be entitled to request, and the Company shall not be obligated to effect the sale or transfer of any Registrable
Securities resulting from any registration (including any Demand Registration or Piggyback Registration) pursuant to this Section
2 of (i) Merger Consideration Shares, including any Escrow Shares, held by such persons prior to the Lock-Up Release Date while
they are subject to restrictions on transfer under the applicable Lock-Up Agreement, and no such sale or transfer will be permitted
until the Lock-Up Release Date, or (ii) any Registrable Securities that are Initial Shares held by such persons prior to the Release
Date, while they are while they are subject to restrictions on transfer under the Share Escrow Agreement, and no such sale or transfer
will be permitted until the Release Date as applicable.

 

    	 	8	 

     

    

 

3. REGISTRATION
PROCEDURES.

 

3.1. Filings; Information.
Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section 2, the Company
shall use commercially reasonable efforts to effect the registration and sale of such Registrable Securities in accordance with
the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request: 

 

3.1.1. Filing Registration
Statement. The Company shall use commercially reasonable efforts to, as expeditiously as reasonably possible after receipt
of a request for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement
on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be
available for the sale of all Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution
thereof, and shall use commercially reasonable efforts to cause such Registration Statement to become effective and use commercially
reasonable efforts to keep it effective for a period of up to two (2) years; provided, however, that the Company
shall have the right to defer any Demand Registration for up to ninety (90) days (or, if the Company intends to initiate a registration,
during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on
a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided that the Company
is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective),
and any Piggy-Back Registration for such period as may be applicable to deferment of any demand registration to which such Piggy-Back
Registration relates, in each case if the Company shall furnish to the Investors requesting to include their Registrable Securities
in such registration a certificate signed by the Chief Executive Officer or Chairman of the Company stating that, in the good faith
judgment of the Board of Directors of the Company, it would be materially detrimental to the Company or its shareholders for such
Registration Statement to be effected at such time; provided further, however, that the Company shall not have the right
to exercise the right set forth in the immediately preceding proviso more than once in any 365-day period in respect of a Demand
Registration hereunder. 

 

3.1.2. Copies.
The Company shall, prior to filing a Registration Statement that includes Registrable Securities, or prospectus, or any amendment
or supplement thereto that includes Registrable Securities, furnish without charge to the holders of Registrable Securities included
in such registration, and such holders’ legal counsel, copies of such Registration Statement as proposed to be filed, each
amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents incorporated
by reference therein), the prospectus included in such Registration Statement (including each preliminary prospectus), and such
other documents as the holders of Registrable Securities included in such registration or legal counsel for any such holders may
reasonably request in order to facilitate the disposition of the Registrable Securities owned by such holders. 

 

3.1.3. Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments,
and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and
other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution
set forth in such Registration Statement or such securities have been withdrawn or until such time as the Registrable Securities
cease to be Registrable Securities as defined by this Agreement. 

 

    	 	9	 

     

    

 

3.1.4. Notification.
After the filing of such Registration Statement, the Company shall promptly, and in no event more than three (3) business days
after such filing, notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall
further notify such holders promptly and confirm such advice in writing in all events within two (2) business days of the occurrence
of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such
Registration Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request
after the effectiveness of such Registration Statement by the Commission for any amendment or supplement to such Registration Statement
or any prospectus relating thereto or for additional information or of the occurrence of an event requiring the preparation of
a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of the securities covered by such
Registration Statement, such prospectus will not contain an untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading, and promptly make available to the holders
of Registrable Securities included in such Registration Statement any such supplement or amendment; except that before filing with
the Commission a Registration Statement or prospectus or any amendment or supplement thereto, including documents incorporated
by reference, the Company shall furnish to the holders of Registrable Securities included in such Registration Statement and to
the legal counsel for any such holders, copies of all such documents proposed to be filed sufficiently in advance of filing to
provide such holders and legal counsel with a reasonable opportunity to review such documents and comment thereon, and the Company
shall not file any Registration Statement or prospectus or amendment or supplement thereto, including documents incorporated by
reference, to which such holders or their legal counsel shall object. 

 

3.1.5. State Securities
Laws Compliance. The Company shall use its commercially reasonable efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of the Company and do any and all other acts and things that may be necessary or advisable to enable the holders of Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where it would
not otherwise be required to qualify but for this paragraph or subject itself to taxation in any such jurisdiction. 

 

3.1.6. Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement in
customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such
Registrable Securities. The representations, warranties and covenants of the Company in any underwriting agreement which are made
to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the holders of
Registrable Securities included in such Registration Statement. No holder of Registrable Securities included in such Registration
Statement shall be required to make any representations or warranties in the underwriting agreement except, if applicable, with
respect to such holder’s organization, good standing, authority, title to Registrable Securities, lack of conflict of such
sale with such holder’s material agreements and organizational documents, and with respect to written information relating
to such holder that such holder has furnished in writing expressly for inclusion in such Registration Statement.

 

3.1.7.  Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer
of the Company and all other officers and members of the management of the Company shall seek in good faith to cooperate fully
in any offering of Registrable Securities hereunder, which cooperation shall include, without limitation, the preparation of the
Registration Statement with respect to such offering and all other offering materials and related documents, and the Company’s
participation in meetings with Underwriters, attorneys, accountants and potential investors. 

 

    	 	10	 

     

    

 

3.1.8. Records.
The Company shall use commercially reasonable efforts to make available for inspection by the holders of Registrable Securities
included in such Registration Statement, any Underwriter participating in any disposition pursuant to such registration statement
and any attorney, accountant or other professional retained by any holder of Registrable Securities included in such Registration
Statement or any Underwriter, all financial and other records, pertinent corporate documents and properties of the Company, as
shall be necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors
and employees to supply all information requested by any of them in connection with such Registration Statement. 

 

3.1.9. Opinions.
At any time that a Holder of Registrable Securities included in any Registration Statement elects to use a prospectus under a then
effective Registration Statement, upon such holder’s reasonable request, the Company shall furnish to such holder any legal
opinion of counsel to the Company delivered to the Underwriter or the transfer agent, as applicable, to the effect that the Registration
Statement containing such prospectus has been declared effective and that no stop order is in effect.

 

3.1.10. Listing.
The Company shall use commercially reasonable efforts to cause all Registrable Securities included in any registration to be listed
on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed
or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of a majority-in-interest
of the Registrable Securities included in such registration. 

 

3.2. Obligation to
Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in Section
3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension
by the Company, pursuant to a written insider trading compliance program adopted by the Company’s Board of Directors, of
the ability of all “insiders” covered by such program to transact in the Company’s securities because of the
existence of material non-public information, each holder of Registrable Securities included in any registration shall immediately
discontinue disposition of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such holder receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction on
the ability of “insiders” to transact in the Company’s securities is removed, as applicable, and, if so directed
by the Company, each such holder will deliver to the Company all copies, other than permanent file copies then in such holder’s
possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice.

 

3.3. Registration
Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration pursuant to Section
2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section
2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or not the
Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees; (ii) fees and expenses
of compliance with securities or “blue sky” laws (including fees and disbursements of counsel in connection with blue
sky qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Company’s internal expenses (including,
without limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in connection
with the listing of the Registrable Securities as required by Section 3.1.9; (vi) Financial Industry Regulatory Authority
fees; (vii) fees and disbursements of counsel for the Company and fees and expenses for independent certified public accountants
retained by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters requested);
(viii) the fees and expenses of any special experts retained by the Company in connection with such registration and (ix) the fees
and expenses of one legal counsel selected by the holders of a majority-in-interest of the Registrable Securities included in such
registration. The Company shall have no obligation to pay any underwriting discounts or selling commissions attributable to the
Registrable Securities being sold by the holders thereof, which underwriting discounts or selling commissions shall be borne by
such holders. Additionally, in an underwritten offering, all selling security holders and the Company shall bear the expenses of
the Underwriter pro rata in proportion to the respective amount of shares each is selling in such offering. 

 

    	 	11	 

     

    

 

3.4. Information.
The holders of Registrable Securities included in any Registration Statement shall provide such information as may reasonably be
requested by the Company, or the managing Underwriter, if any, in connection with the preparation of such Registration Statement,
including amendments and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities
Act pursuant to Section 2 and in connection with the Company’s obligation to comply with Federal and applicable state
securities laws.

 

3.5. Additional Limitations
on Registration Rights. Notwithstanding any rights in this agreement to the contrary, (i) EarlyBirdCapital, Inc. may not exercise
its rights under Sections 2.1 and 2.2 hereunder after June 19, 2022 and June 19, 2024, respectively, and (ii) EarlyBirdCapital,
Inc. may not exercise its rights under Section 2.1 more than one time.

 

4. INDEMNIFICATION
AND CONTRIBUTION.

 

4.1. Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Investor and each other holder of Registrable Securities,
and each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents, and each person,
if any, who controls an Investor and each other holder of Registrable Securities (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified Party”), from and against any
expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon any untrue
statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which the sale of such
Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus
contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising out of or based
upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder
applicable to the Company and relating to action or inaction required of the Company in connection with any such registration;
and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred
by such Investor Indemnified Party in connection with investigating and defending any such expense, loss, judgment, claim, damage,
liability or action; provided, however, that the Company will not be liable in any such case to the extent that any such expense,
loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly untrue statement or omission
or alleged omission made in such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any
such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by such
selling holder expressly for use therein. The Company also shall indemnify any Underwriter of the Registrable Securities, their
officers, affiliates, directors, partners, members and agents and each person who controls such Underwriter on substantially the
same basis as that of the indemnification provided above in this Section 4.1.

 

4.2. Indemnification
by Holders of Registrable Securities. Each selling holder of Registrable Securities will, in the event that any registration
is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held by such selling holder,
indemnify and hold harmless the Company, each of its directors and officers and each Underwriter (if any), and each other selling
holder and each other person, if any, who controls another selling holder or such Underwriter within the meaning of the Securities
Act, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such losses, claims, judgments,
damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or allegedly untrue
statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was registered
under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement,
or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or the alleged omission
to state a material fact required to be stated therein or necessary to make the statement therein not misleading, if the statement
or omission was made in reliance upon and in conformity with information furnished in writing to the Company by such selling holder
expressly for use therein, (provided, however, that the indemnity agreement contained in this Section 4.2 shall not apply
to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is effected without the consent
of the indemnifying selling holder, such consent not to be unreasonably withheld, delayed or conditioned), and shall reimburse
the Company, its directors and officers, each Underwriter (if any) and each other selling holder or controlling person for any
legal or other expenses reasonably incurred by any of them in connection with investigation or defending any such loss, claim,
damage, liability or action. Each selling holder’s indemnification obligations hereunder shall be several and not joint and
shall be limited to the amount of any net proceeds actually received by such selling holder.

 

    	 	12	 

     

    

 

4.3. Conduct of Indemnification
Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability or any action in respect
of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”)
shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person
(the “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or action; provided,
however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from
any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying
Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or
action brought against the Indemnifying Party, then the Indemnifying Party shall be entitled to participate in such claim or action,
and, to the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel
reasonably satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified Party of its election
to assume control of the defense of such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for
any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof other than reasonable
costs of investigation; provided, however, that in any action in which both the Indemnified Party and the Indemnifying Party are
named as defendants, the Indemnified Party shall have the right to employ separate counsel (but no more than one such separate
counsel) to represent the Indemnified Party and its controlling persons who may be subject to liability arising out of any claim
in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, with the fees and expenses
of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel of such Indemnified Party,
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between
them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry of judgment or
effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party is or could have
been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or settlement includes
an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.  

 

4.4. Contribution. 

 

4.4.1. If the indemnification
provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim,
damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the
Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability or action,
as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by such Indemnified Party or such Indemnifying
Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement
or omission.

 

    	 	13	 

     

    

 

4.4.2. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined by pro
rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in
the immediately preceding Section 4.4.1. 

 

4.4.3. The amount paid
or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the
net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the
sale of Registrable Securities which gave rise to such contribution obligation. 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.

 

5. UNDERWRITING
AND DISTRIBUTION.

 

5.1. Rule 144.
The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange Act and
shall take such further action as the holders of Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holders to sell Registrable Securities without registration under the Securities Act within the limitation
of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission. 

 

6. MISCELLANEOUS. 

 

6.1. Assignment; No
Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders of Registrable
Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities in conjunction with and to the
extent of any transfer of Registrable Securities by any such holder; provided that any such transfer shall not be valid
unless all corresponding restrictions of such holder under any Lock-Up Agreement entered into by such holder are also assigned
or delegated to the recipient of such Registrable Securities. This Agreement and the provisions hereof shall be binding upon and
shall inure to the benefit of each of the parties, to the permitted assigns of the Investors or holder of Registrable Securities
or of any assignee of the Investors or holder of Registrable Securities. This Agreement is not intended to confer any rights or
benefits on any persons that are not party hereto other than as expressly set forth in Article 4 and this Section 6.1. 

 

6.2. Notices.
All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be
personally served, delivered by reputable overnight courier service with charges prepaid, or transmitted by hand delivery, email
or facsimile, or certified mail, return receipt acknowledged, postage prepaid, addressed as set forth below, or to such other address
as such party shall have specified most recently by written notice. Notice shall be deemed given on the date of service or transmission
if personally served or transmitted by email or facsimile; provided, that if such transmission is not on a business day or is after
normal business hours, then such notice shall be deemed given on the next business day; or on the fifth business day following
such mailing if made if sent by certified mail. Notice otherwise sent as provided herein shall be deemed given on the next business
day following timely delivery of such notice to a reputable air courier service with an order for next-day delivery. 

 

    	 	14	 

     

    

 

To the Company:

 

Bison Capital Acquisition Corp.

609-610 21st Century Tower

No. 40 Liangmaqiao Road

Chaoyang District, Beijing 100016,
China

Attn: James Jiayuan Tong

Email: jamestong@bisoncapital.cn

 

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

 

Hunter Taubman Fischer & Li LLC

1450 Broadway, 26th Floor

New York, NY 10018

Attention: Arila Zhou

Email: azhou@htflawyers.com

 

To an Investor, to the address set forth below such
Investor’s name on Exhibit A hereto.

 

6.3. Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable. Notwithstanding
anything to the contrary contained in this Agreement, in the event that an Investor identified on Exhibit A hereto
or any other person receiving Merger Consideration Shares does not sign and provide to the Company a duly executed copy of this
Agreement and the applicable Lock-Up Agreement, such Investor or other person failing to provide such signature shall not be a
party to this Agreement or have any rights or obligations hereunder, but such failure shall not affect the rights and obligations
of the other parties to this Agreement as amongst such other parties.

 

6.4. Counterparts.
This Agreement may be executed in multiple counterparts (including by facsimile or pdf or other electronic document transmission),
each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument. 

 

6.5. Entire Agreement.
This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant hereto
and thereto) constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral
or written, relating to the subject matter hereof. For the avoidance of doubt, the foregoing shall not affect the rights and obligations
of the parties under the Merger Agreement or any other Transaction Document, including the Lock-Up Agreement. 

 

    	 	15	 

     

    

 

6.6. Amendments and
Waivers. This Agreement may only be amended or terminated and the observance of any term hereof may be waived (either generally
or in a particular instance, and either retroactively or prospectively) only by a written instrument executed by the Company and
holders of a majority of the Registrable Securities then outstanding on an as-converted to Company Shares basis; provided that
any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any other party.
Further, this Agreement may not be amended, and no provision hereof may be waived, in each case, in any way which would adversely
affect the rights of a Class of Registrable Securities in a manner materially disproportionate to any adverse effect such amendment
or waiver would have on the rights of the majority of the Registrable Securities then outstanding, without also obtaining the written
consent of the holders of a majority of the then outstanding Registrable Securities of such Class of Registrable Securities, calculated
on an as-converted to Company Shares basis. Waivers may be made in advance or after the right waived has arisen or the breach or
default waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained
shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained.
No waiver or extension of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for
performance of any other obligations or acts.

 

6.7. Titles and Headings.
Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of any provision
of this Agreement. 

 

6.8. Remedies Cumulative.
In the event that any party fails to observe or perform any covenant or agreement to be observed or performed under this Agreement,
the other parties may proceed to protect and enforce their rights by suit in equity or action at law, whether for specific performance
of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any
power granted in this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without
being required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive,
and each such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred
by this Agreement or now or hereafter available at law, in equity, by statute or otherwise. 

 

6.9. Governing Law.
In connection with Section 5-1401 of the General Obligations Law of the State of New York, this Agreement shall be governed by,
and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this Agreement shall be resolved through final and binding arbitration in accordance
with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators. This Agreement may be
executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute
but one instrument. 

 

6.10. Waiver of Trial
by Jury. Each party hereby irrevocably and unconditionally waives the right to a trial by jury in any action, suit, counterclaim
or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or relating to this Agreement,
the transactions contemplated hereby, or the actions of the Investor in the negotiation, administration, performance or enforcement
hereof.

 

6.11. Termination
of Merger Agreement. This Agreement shall be binding upon each party upon such party’s execution and delivery of this
Agreement, but this Agreement shall only become effective upon the Closing Date. In the event that the Merger Agreement is validly
terminated in accordance with its terms prior to the Closing Date, this Agreement shall automatically terminate and become null
and void and be of no further force or effect, and the parties shall have no obligations hereunder.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Amended and Restated Registration Rights Agreement to be executed and delivered by their duly authorized
representatives as of the date first written above. 

 

	 	COMPANY:
	 	 
	 	BISON CAPITAL ACQUISITION CORP.
	 	 	 
	 	By:	           
	 	 	Name:  James Jiayuan Tong
	 	 	Title:    Chief Executive Officer

 

[Company’s Signature Page to Registration
Rights Agreement]

 

     

     

    

 

	 	INVESTORS:
	 	 
	 	[●]
	 	 	 
	 	By:	 
	 	 	Name: [●]
	 	 	Tittle: [●]

 

[Investors Signature Page to Registration
Rights Agreement]

 

     

     

    

 

EXHIBIT A

to

Registration Rights Agreement

 

Investors

 

EXISTING INVESTORS

 

	Name of Investor	 	Address of Investor
	 	 	 
	Bison Capital Holding Company Limited	 	609-610 21st Century Tower, No. 40
	 	 	Liangmaqiao Road, Chaoyang District 
	 	 	Beijing, China
	 	 	Attn: [  ]
	 	 	Email: [  ]
	 	 	Facsimile: [  ]
	 	 	 
	James Jiayuan Tong	 	2073 Maple Avenue, 
	 	 	Costa Mesa, California 92627
	 	 	Attn: [  ]
	 	 	Email: [  ]
	 	 	Facsimile: [  ]
	 	 	 
	EarlyBirdCapital, Inc.	 	366 Madison Avenue
	 	 	New York, New York 10017
	 	 	Attn: [  ]
	 	 	Email: [  ]
	 	 	Facsimile: [  ]
	 	 	 
	NEW INVESTORS	 	 
	 	 	 
	Name of Investor	 	Address of Investor
	 	 	 
	[●]	 	[●]

 

    	 	Exh. A-1

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