Document:

Exhibit 10.9

 

CONSULTING AGREEMENT 

 

This Consulting Agreement
(“Agreement”) is made as of April 14, 2021 (“Effective Date”) by and between Sysorex, Inc.,
a Nevada corporation (“Company”), and Nadir Ali, an individual, (“Consultant”).

 

WHEREAS, within thirty
days of the Effective Date of this Agreement, Consultant will resign as a director of Company in connection with the consummation of the
transactions contemplated by that certain Agreement and Plan of Merger by and among the Company, TTM Acquisition Corp., and TTM Digital
Assets & Technologies, Inc. (“TTM”), dated as of the Effective Date of this Agreement, pursuant to which Company has acquire
all of the issued and outstanding capital stock of TTM (the “Transaction”); and

 

WHEREAS, in addition
to general business and management matters, Consultant has knowledge and expertise regarding Company’s reseller business, in addition
to matters related to Company’s public company reporting and compliance matters (“Pre-Transaction Business”);
and

 

WHEREAS, Company desires
to retain Consultant as an advisor to Company for matters related to the Pre-Transaction Business on an as needed basis to ensure an orderly
transition of Company’s business and management team; and

 

WHEREAS, Consultant
desires to be engaged by Company and to provide the Consulting Services pursuant to such engagement.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt
and sufficiency of which is acknowledged, and intending to be legally bound hereby, Consultant and Company agree as follows:

 

1. Services
and Payment. Consultant agrees to undertake and complete the Services (as defined in Exhibit A) in accordance
with the applicable statement of work, a form of which is attached as Exhibit A hereto, which will be executed by both parties
(“Statement of Work”). Unless otherwise specifically approved by Company (and notwithstanding any other provision of
this Agreement), all activity relating to Services will be performed by and only by Consultant. Consultant agrees that it will not (and
will not permit others to) violate any agreement with or rights of any third party or, except as expressly authorized by Company in writing
hereafter, use or disclose at any time Consultant’s own or any third party’s (including without limitation the Company’s)
confidential information or intellectual property in connection with the Services or otherwise for or on behalf of Company.

 

2. Ownership;
Rights; Proprietary Information; Publicity.

 

a. Company
shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights,
sui generis database rights and all other intellectual and industrial property rights of any sort throughout the world) relating
to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas and information
made or conceived or reduced to practice, in whole or in part, by Consultant in connection with the Services or any Proprietary Information
(as defined below) (collectively, “Inventions”). Consultant will promptly disclose and provide all Inventions to Company
and will keep adequate and current written records of all Inventions, which records shall be available to and shall remain the sole property
of Company. Consultant hereby makes, and agrees to make in the future, all assignments necessary to accomplish the foregoing ownership.
Consultant shall assist Company, at Company’s expense, to further evidence, record and perfect such assignments, and to perfect,
obtain, maintain, enforce and defend any rights assigned. Consultant hereby irrevocably designates and appoints Company as its agent and
attorney-in-fact, coupled with an interest, to act for and on Consultant’s behalf to execute and file any document and to do all
other lawfully permitted acts to further the foregoing with the same legal force and effect as if executed by Consultant.

 

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b. Consultant
agrees that all Inventions and all other business, technical and financial information (including, without limitation, computer programs,
technical drawings, algorithms, know-how, trade secrets, formulas, processes, ideas, inventions (whether patentable or copyrightable not),
improvements, schematics, customer lists and customer information, suppliers and supplier information, pricing information, product development,
sales and marketing plans and strategies, personnel information, and other technical, business, financial, customer and product information),
Consultant learns, develops or obtains in connection with the Services or that are received by or for Consultant in confidence, constitute
“Proprietary Information.” Consultant shall hold in confidence and not disclose or, except in performing the Services,
use any Proprietary Information. However, Consultant shall not be obligated under this Section 2.b with respect to information Consultant
can document rightfully is or rightfully becomes readily publicly available without restriction through no fault of Consultant. Upon termination
or as otherwise requested by Company, Consultant will promptly return to Company all items and copies containing or embodying Proprietary
Information, except that Consultant may keep its personal copies of its compensation records and this Agreement. Consultant also recognizes
and agrees that Consultant has no expectation of privacy with respect to Company’s telecommunications, networking or information
processing systems (including, without limitation, stored computer files, email messages and voice messages), and that Consultant’s
activity, and any files or messages, on or using any of those systems may be monitored at any time without notice.

 

c.  Consultant
represents that his performance of all terms of this Agreement as a consultant of the Company has not breached and will not breach any
agreement to keep in confidence proprietary information, knowledge or data acquired by Consultant prior or subsequent to the commencement
of Consultant's consultant relationship with the Company, and Consultant will not disclose to the Company, or use, any inventions, confidential
or non-public proprietary information or material belonging to any previous client, employer or any other party. Consultant will not induce
the Company to use any inventions, confidential or non-public proprietary information or material belonging to any previous client, employer
or any other party.

 

d. Consultant
recognizes that the Company has received and, in the future, will receive confidential or proprietary information from third parties subject
to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes.
Consultant agrees to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person,
firm or corporation or to use it except as necessary in carrying out Consultant's work for the Company consistent with the Company’s
agreement with such third party.

 

3. Warranty
and other Obligations. Consultant warrants that: (i) the Services will be free from material defects and performed in a professional
and workmanlike manner and that none of such Services nor any part of this Agreement is or will be inconsistent with any obligation Consultant
may have to others; (ii) all work under this Agreement shall be Consultant’s original work and none of the Services or Inventions
nor any development, use, production, distribution or exploitation thereof will infringe, misappropriate or violate any intellectual property
or other right of any person or entity (including, without limitation, Consultant); and (iii) Consultant has the full right to allow
itself to provide Company with the assignments and rights provided for herein and, in addition, Consultant will have each person who may
be involved in any way with, or have any access to, any Services or Proprietary Information enter into (prior to any such involvement
or access) a binding agreement for Company’s benefit that contains provisions at least as protective as those contained herein;
(iv) Consultant shall comply with all applicable laws and Company safety rules in the course of performing the Services; and (v) if Consultant’s
work requires a license, Consultant has obtained that license and the license is in full force and effect.

 

4. Term
and Termination. This Agreement shall commence upon the Effective Date and shall continue in effect until terminated pursuant
to (i) this Section 4 or (ii) the six (6) month anniversary of the Effective Date which date may be extended by Company, with Consultant’s
consent. Company may terminate this agreement at any time without notice if Consultant breaches a material provision of this Agreement.
Company also may terminate this Agreement at any time, upon 30 calendar days written or email notice. Consultant may terminate the Agreement
upon 30 calendar days written notice. Notwithstanding, in the event of a termination notice in connection with this Section 4, all of
the compensation paid by Company pursuant to this Agreement and issued to Consultant prior to the effective date of any termination shall
be deemed earned or immediately due and payable. Sections 2 through 11 of this Agreement and any remedies for breach of this Agreement
shall survive any termination or expiration of this Agreement.

 

5. Relationship
of the Parties; Independent Contractor; No Employee Benefits. Notwithstanding any provision hereof, Consultant is an independent
contractor, and Consultant shall bind or attempt to bind Company to any contract. Consultant shall accept any directions issued by Company
pertaining to the goals to be attained and the results to be achieved by Consultant, but Consultant shall be solely responsible for the
manner and hours in which the Services are performed under this Agreement. Consultant shall not be eligible to participate in any of Company’s
employee benefit plans, fringe benefit programs, group insurance arrangements or similar programs. Company shall not provide workers’
compensation, disability insurance, Social Security or unemployment compensation coverage or any other statutory benefit to Consultant.
Without limiting the foregoing, Consultant shall comply at Consultant’s expense with all applicable provisions of workers’
compensation laws, unemployment compensation laws, federal Social Security law, the Fair Labor Standards Act, federal, state and local
income tax laws, and all other applicable federal, state and local laws, regulations and codes required to be fulfilled by independent
contractors.

 

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6. Assignment.
This Agreement and the services contemplated hereunder are personal to Consultant and Consultant shall not have the right or ability to
assign, transfer or subcontract any obligations under this Agreement without the written consent of Company. Any attempt to do so shall
be void. Company may assign its rights and obligations under this Agreement in whole or part.

 

7. Notice.
Unless otherwise provided herein, all notices under this Agreement shall be in writing and shall be deemed given when delivered by e-mail,
by hand or professional courier or express delivery service to the address of the party to be noticed as set forth below or to such other
address as such party last provided to the other by written notice.

 

8. Publicity.
Consultant shall make no public announcements or engage in any marketing or promotion concerning this Agreement, or the work performed
hereunder without the advance written consent of Company.

 

9. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the state of California.

 

10. Arbitration.
Any dispute or claim arising out of or in connection with any provision of this Agreement will be finally settled by binding
arbitration in the State of California, County of San Mateo. The arbitrator shall be selected, and the arbitration hearing conducted pursuant
to the Commercial Arbitration Rules of the American Arbitration Association. The arbitrator shall apply California law, without reference
to rules of conflicts of law or rules of statutory arbitration, to the resolution of any dispute. Judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. Notwithstanding the foregoing, the Parties may apply to any court
of competent jurisdiction located within the State of California, County of San Mateo for preliminary or interim equitable relief, or
to compel arbitration in accordance with this paragraph, without breach of this arbitration provision. If any court or arbitrator finds
that any term makes this arbitration agreement unenforceable for any reason, the court or arbitrator shall have the power to modify such
term to the minimum extent necessary to make this arbitration agreement enforceable and, to the extent this arbitration agreement as a
whole is deemed unenforceable for any reason, the parties agree that the venue of any litigation or dispute between the parties shall
be exclusively in San Mateo County, California.

 

11. Miscellaneous.
This Agreement sets forth the entire and exclusive understanding of the parties with respect to the subject matter hereof and supersedes
and merges all prior and contemporaneous agreements or understandings, whether written or oral, with respect to its subject matter. Any
breach of Section 2, 3, or 8 will cause irreparable harm to Company for which damages would not be an adequate remedy, and therefore,
Company will be entitled to injunctive relief with respect thereto in addition to any other remedies. The failure of either party to enforce
its rights under this Agreement at any time for any period shall not be construed as a waiver of such rights. No changes or modifications
or waivers to this Agreement will be effective unless in writing and signed by both parties. In the event that any provision of this Agreement
shall be determined to be illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that
this Agreement shall otherwise remain in full force and effect and enforceable. In any action or proceeding to enforce rights under this
Agreement, the prevailing party will be entitled to recover costs and attorneys’ fees. Headings herein are for convenience of reference
only and shall in no way affect interpretation of the Agreement. This Agreement may be executed in counterparts, each of which will be
deemed an original, but all of which together will constitute one and the same instrument.

 

12. Indemnification.
Company agrees to indemnify, defend and hold harmless Consultant, including its affiliates and agents, against all losses, expenses, damages
and costs, including reasonable attorneys’ fees, resulting from any act, action or omission, except for acts of Consultant of willful
misconduct, bad faith or gross negligence, related to this Agreement. Subject to the limitation hereunder, Consultant agrees to indemnify,
defend and hold harmless Company, its officers, directors, members, employees, affiliates and agents against all losses, expenses, damages
and costs caused by Consultant’s willful misconduct, bad faith or gross negligence related to this Agreement.

Any liability of Consultant and its officers,
directors, controlling persons, employees or agents related to this Agreement shall not exceed the compensation (which shall be measured
on the date of issuance of the Shares (as defined in the Statement of Work)) paid to Consultant by Company pursuant to this Agreement.

 

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IN WITNESS WHEREOF, the
undersigned have entered into this Consulting Agreement as of the Effective Date.

 

	SYSOREX, INC.	 	CONSULTANT
	 	 	 
	/s/ Zaman Khan	 	/s/ Nadir Ali
	Signature	 	Signature
	 	 	 
	/s/ Zaman Khan	 	/s/ Nadir Aldi
	Zaman Khan	 	Nadir Aldi
	 	 	 
	 	 	 
	Chief Executive Officer	 	Date:  April 14, 2021
	 	 	 
	Date: April 14, 2021	 	 

 

	Notice:	 	Notice:
	 	 	 
	Address:  	 	Address:	 c/o Inpixon 
	 	 	 	2479 East Bayshore Road
	13880 Dulles	 	 	Suite 195  Palo Alto, California  94303
	Corner Ln. #175 Herndon, VA  20171	 	 	 
	 	 	 
	With an electronic copy to:	 	With an electronic copy to:
	ZamanKhan@sysorexinc.com	 	nadir.ali@inpixon.com

 

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EXHIBIT A

 

FORM OF

 

Statement of Work

 

This Statement of Work is issued under and subject
to all of the terms and conditions of the Consulting Agreement dated as of April 14, 2021 by and between Company and Consultant.

 

SERVICES

 

Company hereby engages Consultant as an advisor
to management with respect to his knowledge and expertise on an as needed basis related to the Pre-Transaction Business (the “Services.”).
Consultant shall be responsible for providing the Services to Zaman Khan and Vincent Loiacono, who shall be Consultant’s primary
point of contact or such other persons as Company may specify during the term of this Agreement. The Services will be based, in whole
or in part, upon information made available by Company to Consultant during this engagement

 

FEES /EXPENSES

 

Fees

In exchange for the Services provided during the
term of this Agreement, Company shall issue to Consultant 1,250,000 restricted shares of Company’s common stock (the “Shares”)
on the Effective Date valued at a price per share equal to $0.569.

 

The Shares are deemed and agreed to be a commencement
incentive and consideration now due and owing for Consultant entering into this Agreement and performing Consultant’s duties during
the term of this Agreement. Company acknowledges that as a result of Consultant’s services to Company prior to the Effective Date,
Company may derive immediate benefit as a result of such services.

 

Consultant shall not be issued, at any time during
the term or any extension thereof, such number of shares of common stock that would result in beneficial ownership by the Consultant and
its affiliates of more than 9.99% of the outstanding shares of Company common stock.

 

Provided that restrictive legends may be removed
in accordance with Rule 144, upon request of Consultant or its broker, Company agrees to take any and all action(s) necessary to remove
such restrictive legends from the Shares awarded to Consultant pursuant to this Agreement, including, without limitation, (i) authorizing
the Company’s transfer agent to remove the restrictive legend on the subject shares, (ii) expediting the acquisition of a legal
opinion from Company’s authorized counsel at Company’s expense favorably opining as to the removal of the restrictive legend,
and (iii) cooperating and communicating with Consultant and its broker in order to use the Company’s commercially reasonable best
efforts to clear the subject shares of restriction as soon as possible after request by Consultant or its broker to either Company or
its transfer agent. Further, Company agrees not to unreasonably withhold or delay approval of any request for removal of restrictive legends
by Consultant or its broker in accordance with Rule 144.

 

Company (i) represents that its Board of Directors
has approved this Agreement and that it will appropriately and timely disclose the issuance of the Shares in its SEC filing(s), if required
by applicable securities laws; (ii) shall provide Consultant with a true and correct copy of Company’s board resolution authorizing
the issuance of the Shares upon request; and (iii) represents and warrants that the Shares when issued to Consultant as compensation hereunder
shall be validly issued, fully paid and non-assessable.

 

In connection with the issuance of the Shares
to Consultant hereunder, as may be applicable, Company shall be responsible for any and all compliance with applicable securities laws,
rules and regulations, including, without limitation, the Act as well as all applicable filing requirements under the Securities Exchange
Act of 1934 (“Exchange Act”), and all state securities laws. Company recognizes and agrees that failure to timely make its
Exchange Act filings will materially hinder the effectiveness of the Services and will constitute automatic grounds for cancellation by
the Consultant and all compensation paid to Consultant up to and including the date of such failure shall be deemed fully earned by Consultant
as of such date.

 

Consultant shall be entitled to the registration
rights of the Holders (as such term is defined in the RRA) described in the Registration Rights Agreement in the form attached hereto
as Exhibit A (the “RRA) and the Company agrees to register the Shares issued pursuant to this Agreement in accordance with the terms
and conditions of the RRA.

 

Expenses

 

Company will reimburse Consultant for non-ordinary out of pocket expenses
reasonably incurred by Consultant in connection with the performance of the Services. All reimbursable expenses must be pre-approved in
writing by Company. An itemized expense statement must be submitted, including substantiating receipts, with monthly invoice, if applicable.

 

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Exhibit A

 

Registration Rights Agreement

 

 

Page 6 of 6Exhibit 10.10

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(the “Agreement”), dated as of April 14, 2021 (the “Effective Date”), is by and between Sysorex,
Inc., a Nevada corporation (the “Company”), and ___________________ (“Service Provider”).

 

RECITALS:

 

WHEREAS, the Company is a
party to that certain Agreement and Plan of Merger by and among the Company, a Nevada corporation, TTM Acquisition Corp., a Nevada corporation
and TTM Digital Assets & Technologies, Inc., a Nevada corporation (“TTM”) dated as of the Effective Date of this
Agreement, pursuant to which the Company will acquire all of the issued and outstanding capital stock of TTM (the “Transaction”)
and

 

WHEREAS, the Service Provider
has agreed to accept an aggregate of ___________ shares (the “Securities”) of the Company’s common stock, $0.00001
par value per share (“Common Stock”), at a price per share equal to $0.569 in full satisfaction and payment for services
rendered to the Company valued at an aggregate $__________________ (the “Service Value”) in accordance with the terms
and conditions of this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the recitals above incorporated herein by this reference and the mutual covenants contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Service Provider hereby agree as follows:

 

1. ISSUANCE
OF SECURITIES FOR SERVICES RENDERED.

 

(a) Issuance
of Common Stock. In connection and concurrent with the effective time of the closing of the Transaction (the “Transaction
Effective Time”), in full satisfaction and in lieu of cash payment of the Service Value due to Service Provider, the Company
will issue the Securities on the Closing Date (as defined below).

 

(b) Closing.
The sale and purchase of the Securities shall take place at a closing (the “Closing”) to be managed by the remote exchange
of documents. The date and time of the Closing shall be concurrent with the Transaction Effective Time, or at such other time or on such
other date as parties hereto may mutually agree in writing (the “Closing Date”).

 

(c) Closing
Deliveries.

 

(i) On
or prior to the Closing Date, the Company shall deliver or cause to be delivered to Service Provider:

 

(A) a
copy of the irrevocable instructions to the Company transfer agent (“Transfer Agent”) instructing the Transfer Agent
to deliver the Securities, on an expedited basis, and in all cases on or before the close of business on the second (2nd) Trading
Day following the Closing Date, in book entry form, in the name of Service Provider; and

 

(B) the
Registration Rights Agreement, by and between the Company and Service Provider in the form attached hereto as Exhibit A (the “Registration
Rights Agreement”, together with this Agreement, the “Transaction Documents”), duly executed by the Company.

 

     

     

    

 

(ii) On
or prior to the Closing Date, Service Provider shall deliver or cause to be delivered to the Company, as applicable, the Registration
Rights Agreement, duly executed by Service Provider.

 

“Trading Day” refers to a day
on which the principal market or exchange on which the Company’s Common Stock is then listed
or quoted for trading, including, the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, or the OTCQB Marketplace maintained by the OTC Market Group Inc. (or any successors to any of the foregoing).

 

2. SERVICE PROVIDER’S
REPRESENTATIONS AND WARRANTIES.

 

Service Provider represents
and warrants to the Company with respect to only itself that, as of the date hereof and the Closing Date:

 

(a) Validity;
Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of Service Provider and shall constitute
the legal, valid and binding obligation of Service Provider enforceable against Service Provider in accordance with its terms, except
as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

(b) No
Conflicts. The execution, delivery and performance by Service Provider of this Agreement and the consummation by Service Provider
of the transactions contemplated hereby will not (i) result in a violation of the organizational documents of Service Provider or (ii)
conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give
to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which Service
Provider is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities laws) applicable to Service Provider, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights
or violations which could not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability
of Service Provider to perform its obligations hereunder.

 

(c) Information
and Sophistication. During the course of this transaction, the Company has furnished the Service Provider with all information regarding
the Company and the Securities that the Service Provider has requested or desired to know, has afforded the Service Provider the opportunity
to ask questions of, and to receive answers from, duly authorized officers or other representatives of the Company concerning the terms
and conditions of this Agreement, the Securities contemplated hereunder, and the affairs of the Company and any additional information
relating to this Agreement or Securities and requested by the Service Provider. In evaluating the suitability of an investment in the
Company, the Service Provider hereby acknowledges and represents that:

 

(i) Service
Provider has prior investment experience, including investment in securities that are not listed, are unregistered and are not traded
on any stock exchange or an automated quotation system; and

 

(iii) Service
Provider, either by reason of Service Provider’s own business or financial experience or that of the Service Provider’s professional
advisors as discussed in clause (i) above, as applicable, possesses sufficient knowledge and experience in financial and business matters
so as to be capable of assessing the merits and risks of an investment in the Securities; and

 

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(iv) has
reviewed the SEC Reports (defined below);

 

(v) Service
Provider is an “Accredited Investor” as defined in Rule 501(a) of Regulation D.

 

(d) No
General Solicitation. The Securities were not offered or sold to Service Provider by means of, and Service Provider is not purchasing
the Securities in reliance on, any form of general solicitation or general advertising and in connection therewith, the Service Provider
(i) did not receive or review any advertisement, article, notice or other communication published in a newspaper, magazine or similar
media or broadcast over television or radio, either closed circuit or generally available; and (ii) did not attend any seminar meeting
or industry investor conference any of whose attendees were invited by general solicitation or general advertising, and is not otherwise
relying on any communication that the Service Provider has reason to know was presented at such a meeting or conference.

 

(e)  Registration
and Exemption. Service Provider hereby acknowledges that the Securities have not been reviewed by the SEC or any state regulatory
authority, and that the offer and issuance sale of the Securities is intended to be exempt from the registration requirements of Section
5 of the Securities Act of 1933, ad amended (the “Securities Act”) based in part upon the Service Provider’s
representations and warranties contained in this Agreement. Service Provider agrees it will not sell or otherwise transfer the Securities
unless and until the Securities are either registered under the Securities Act and any applicable state securities laws or the Company
receives an opinion of counsel satisfactory to the Company that an exemption from such registration is available. Service Provider acknowledges
that no federal or state agency has made any determination as to the fairness of the offering of the Securities, or any recommendation
or endorsement of the Securities. Service Provider acknowledges that at such time, if ever, as the Securities are registered under the
Securities Act, sales of the Securities will remain subject to state securities laws.

 

(f) Legend. Service
Provider consents to the placement of a legend on any certificate or other document evidencing the Securities that such Securities have
not been registered under the Securities Act or any state securities or other “blue sky” laws, and setting forth or referring
to the restrictions on transferability and sale thereof contained in this Agreement. Service Provider is aware that the Company will make
a notation in its appropriate records with respect to the restrictions on the transferability of the Securities.

 

3. REPRESENTATIONS AND
WARRANTIES OF THE COMPANY.

 

The Company represents and
warrants to Service Provider that, as of the date hereof and the Closing Date:

 

(a) Organization
and Qualification. The Company and each of its subsidiaries is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to
own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any subsidiary is in
violation or default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational
or charter documents. Each of the Company and its subsidiaries is duly qualified to conduct business and is in good standing as a foreign
corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected
to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse
effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries,
taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no proceeding
has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority
or qualification.

 

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(b) Authorization;
Enforcement; Validity. The Company has the requisite power and authority to enter into and perform its obligations under this Agreement
or any of the Transaction Documents and to issue the Securities in accordance with the terms hereof and thereof. The execution and delivery
of this Agreement by the Company, and the consummation by the Company of the transactions contemplated hereby (including, without limitation,
the issuance of the shares of Common Stock) have been duly authorized by the Company’s board of directors and no further filing,
consent or authorization is required by the Company, its subsidiaries, their respective boards of directors or their stockholders or other
governing body. This Agreement and each other Transaction Document has been duly executed and delivered by the Company, and constitutes
the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification
and to contribution may be limited by federal or state securities law.

 

(c) Issuance
of Securities. The issuance of the Securities is duly authorized and the Securities, when issued, shall be validly issued, fully paid
and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims, liens, pledges, charges, taxes, rights
of first refusal, encumbrances, security interests and other encumbrances (collectively “Liens”) with respect to the
issuance thereof.

 

(d) No
Conflicts. The execution, delivery and performance of this Agreement and the other Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Securities) will
not (i) result in a violation of the Articles of Incorporation (as defined below), Bylaws (as defined below) or other organizational documents
of the Company or any of its subsidiaries, or any capital stock or other securities of the Company or any of its subsidiaries, (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) in any respect under, or
give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which
the Company or any of its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including, without limitation, foreign, federal and state securities laws and regulations applicable to the Company or any of its subsidiaries
or by which any property or asset of the Company or any of its subsidiaries is bound or affected.

 

(e) Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to,
or make any filing or registration with, any court or other U.S. federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than such filings as may
be required to be made under applicable federal and state securities laws.

 

(f) SEC
Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to be
filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the twelve
months preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the
foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein
as the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and has filed
any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material
respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained
any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading. The Company is not and has not been
subject to Rule 144(i). The financial statements of the Company included in the SEC Reports comply in all material respects with applicable
accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such
financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent
basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes
thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material
respects the financial position of the Company as of and for the dates thereof and the results of operations and cash flows for the periods
then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

 

    4

     

    

 

(g) Private
Placement. Assuming the accuracy of the representations and warranties of Service Provider set forth in Section 3, no registration
under the Securities Act is required for the offer and sale of the Securities by the Company to Service Provider as contemplated by this
Agreement.

 

4. COVENANTS.

 

(a) Register.
The Company shall maintain at its principal executive offices (or such other office or agency of the Company as it may designate by notice
to each holder of Securities), a register for the Securities in which the Company shall record (x) the name and address of the person
in whose name the shares of Common Stock have been issued (including the name and address of each transferee) and (y) the aggregate number
of shares of Common Stock held by such Person. The Company shall keep the register open and available at all times during business hours
for inspection of any Service Provider representative or its legal representatives.

 

(b) Legends.
The Securities to be issued under this Agreement are being issued in accordance with an exemption from registration pursuant to Section
4(a)(2) of the Securities Act, and certificates and any other instruments evidencing the Securities should bear the following restrictive
legend:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL
OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER INDEBTEDNESS SECURED BY SUCH SECURITIES.

 

    5

     

    

 

(c) Rule
144; Current Information. For so long as Service Provider owns the Securities, the Company will timely file on the applicable deadline
all reports required to be filed with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to Sections 13
or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and will take all reasonable action
under its control to ensure that adequate current public information with respect to the Company, as required in accordance with Rule
144 of the Securities Act is publicly available, and will not terminate its status as an issuer required to file reports under the Exchange
Act even if the Exchange Act or the rules and regulations thereunder would permit such termination.

 

(d) Registration
Rights. Service Provider shall be entitled to the registration rights described in the Registration Rights Agreement and the Company
agrees to register the Securities in accordance with the terms and conditions of the Registration Rights Agreement.

 

5. MISCELLANEOUS.

 

(a) Governing
Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be governed by the internal laws of the State of Nevada, without giving effect to any choice of law or conflict of law provision
or rule (whether of the State of Nevada or any other jurisdictions) that would cause the application of the laws of any jurisdictions
other than the State of Nevada. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in the State of Nevada, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby,
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such
suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being
served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed
or operate to preclude Service Provider from bringing suit or taking other legal action against the Company in any other jurisdiction
to collect on the Company’s obligations to Service Provider or to enforce a judgment or other court ruling in favor of Service Provider.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY
DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b) Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature
is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature
page, such signature page 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 signature page were an original thereof.

 

(c) Headings;
Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of,
this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine,
neuter, singular and plural forms thereof. The terms “including,” “includes,” “include” and words
of like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,”
“hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in
which they are found.

 

    6

     

    

 

(d) Severability.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest
extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity
of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change,
the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the
provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical
realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to
replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible
to that of the prohibited, invalid or unenforceable provision(s).

 

(e) Entire
Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between Service Provider and the Company
and contains the entire understanding of the parties solely with respect to the matters covered herein except as set forth in the other
Transaction Documents. For clarification purposes, the Recitals are part of this Agreement and the Transaction Documents remains in full
force and effect. No provision of this Agreement may be amended or waived other than by an instrument in writing signed by the Company
and Service Provider.

 

(f)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been given and delivered: (i) upon receipt, when delivered personally; (ii) upon receipt,
when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party) or electronic mail; or (iii) one (1) Business Day after deposit with an overnight courier service with next day delivery specified,
in each case, properly addressed to the party to receive the same. As used herein “Business Day” means any day other
than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to remain closed.
The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

If to the Company:

 

Sysorex, Inc.

13880 Dulles Corner Lane, Suite 175

Herndon, VA 20171

Attn: Zaman Khan

E-mail: zaman.khan@sysorexinc.com

 

If to Service Provider:

 

[Contact Information]

 

or to such other address, e-mail address and/or
facsimile number and/or to the attention of such other Person as the recipient party has specified by written notice given to each other
party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice,
consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine or e-mail
containing the time, date, recipient facsimile number, if applicable, and, with respect to each facsimile transmission, an image of the
first page of such transmission or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt
by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

    7

     

    

 

(g) Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns,
including any Service Providers of any of the Securities.

 

(h) No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(i) Survival.
The representations, warranties, agreements and covenants contained herein shall survive the Closing.

 

(j) Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(k) Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules
of strict construction will be applied against any party. No specific representation or warranty shall limit the generality or applicability
of a more general representation or warranty. Each and every reference to share prices, shares of Common Stock and any other numbers in
this Agreement that relate to the Common Stock shall be automatically adjusted for any stock splits, stock dividends, stock combinations,
recapitalizations or other similar transactions that occur with respect to the Common Stock after the date of this Agreement through the
Closing Date.

 

[SIGNATURE PAGE FOLLOWS]

 

    8

     

    

 

IN WITNESS WHEREOF, Service
Provider and the Company have caused their respective signature page to this Agreement to be duly executed as of the date first written
above.

 

	 	SERVICE PROVIDER: 
	 	 
	 	By:	 
	 	Name: 
	 	Title: 
	 	 
	 	COMPANY:
	 	 
	 	SYSOREX, INC.
	 	 
	 	By:	 
	 	Name: 	 Zaman Khan
	 	Title:	Chief Executive Officer

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

EXHIBIT A

 

FORM
OF Registration Rights Agreement

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