Document:

Exhibit 10.2

 

GUARANTY AGREEMENT

 

This Guaranty Agreement
(“Guaranty”) is made and executed as of this 21st day of May 2019 by INPIXON,
a Nevada corporation (“Guarantor”), having its principal place of business at 2479 E. Bayshore Road,
Suite 195, Palo Alto, CA 94303, in favor of the Seller Parties (as defined herein). Reference is hereby made to that certain
Share Purchase Agreement, dated on the date hereof (as the same may be amended, modified or restated in accordance with the terms
thereof, the “SPA”), by and among the Persons set forth in Exhibit A thereto, (collectively, the
“Vendors”), Kirk Moir, in his capacity as Vendors’ Representative, Garibaldi Capital Advisors Ltd.,
solely for purposes of Section 2.5 and Article VII of the SPA, Locality Systems Inc., a British Columbia corporation (the
“Company”, and together with the Vendors, the “Seller Parties”), Guarantor,
and Inpixon Canada, Inc., a British Columbia corporation (the “Purchaser”) and wholly-owned subsidiary
of Parent. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the SPA.

 

BACKGROUND

 

A. Guarantor is the
parent of the Purchaser and will derive a material benefit from the transactions contemplated by the SPA.

 

B. Guarantor has agreed
to provide the Seller Parties with a full recourse guaranty for the full and punctual payment of any unpaid portion of the Aggregate
Cash Consideration, as set forth in this Guaranty.

 

C. In order to induce
the Seller Parties to enter into the SPA, Guarantor undertakes and agrees as set forth below.

 

1. Obligations Guaranteed.
To induce the Seller Parties to enter into the SPA, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Guarantor, intending to be legally bound hereby, absolutely and unconditionally guarantees and
becomes surety for the full and punctual payment and performance of all of the payment obligations of Purchaser under the SPA when
required to be paid by Purchaser pursuant to and in accordance with the SPA (collectively, the “Obligations”).
All payments hereunder shall be made in lawful money of the United States, in immediately available funds.

 

2. Representations
and Warranties. Guarantor represents and warrants to the Seller Parties that:

 

(a) Guarantor’s
execution and performance of this Guaranty does not and will not (i) violate or result in a default or breach (immediately or with
the passage of time) under any contract, agreement or instrument to which Guarantor is a party, or by which Guarantor or any asset
of Guarantor is bound, (ii) violate or result in a default or breach under any order, decree, award, injunction, judgment, law,
regulation or rule, (iii) cause or result in the imposition or creation of any lien or other encumbrance upon any property or asset
of Guarantor, or (iv) violate or result in a breach of the articles of incorporation or bylaws of Guarantor.

 

(b) Guarantor has the
full power and authority to enter into and perform its obligations under this Guaranty, which has been authorized by all necessary
corporate action on behalf of Guarantor.

 

(c) No consent, license
or approval of, or filing or registration with, any governmental authority is necessary for the execution and performance hereof
by Guarantor.

 

(d) This Guaranty constitutes
a valid and binding obligation of Guarantor enforceable in accordance with its terms.

 

     

     

    

 

(e) This Guaranty promotes
and furthers the business and interests of Guarantor and the creation of the obligations hereunder will result in direct financial
benefit to Guarantor.

 

3. Guarantor Acknowledgements.

 

(a) Guarantor acknowledges
that Guarantor has executed the SPA and in connection therewith (i) has examined or had the opportunity to examine the SPA and
related agreements and (ii) waives any defense which may exist resulting from Guarantor’s failure to receive or examine at
any time the SPA or any amendments, supplements, restatements or replacements therefor.

 

(b) Guarantor acknowledges
that it shall not do anything to impede or interfere in any manner with the normal payment of the Installment Cash Consideration,
pursuant to the Obligations under the SPA.

 

4. Scope of Guaranty.
The Guaranty is an agreement of suretyship and a guaranty of payment and not of collection. The liability of Guarantor hereunder
shall not be reduced, impaired or affected in any way by reason of (a) any failure to obtain, retain or preserve, or the lack of
prior enforcement of, any rights against any Person or Persons liable for the Obligations (including Company and Guarantor) or
in any property, (b) the invalidity, unenforceability or voidability of any Obligations or any liens or rights in any property
pledged by any Person or Persons, or (c) the commencement of any bankruptcy, reorganization, liquidation, dissolution or receivership
proceeding or case filed by or against Company or the Guarantor.

 

5. Continuing Guaranty.
This Guaranty is a continuing one and shall remain in full force and effect until the indefeasible payment and satisfaction in
full of the Obligations, shall be binding upon the Guarantor and its successors and assigns, and shall inure to the benefit of,
and be enforceable by, the Vendors and their respective permitted successors, transferees and assigns. All obligations to which
this Guaranty applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon.

 

6. Subrogation.
Guarantor will not exercise against the Purchaser any rights of subrogation or contribution, whether arising by contract or operation
of law (including, without limitation, any such right arising under bankruptcy or insolvency laws) or otherwise, by reason of any
payment by any of them pursuant to the provisions of Section 1 unless and until the Obligations have been indefeasibly paid
in full.

 

7. Enforcement Timing.
Failure or delay in exercising any right or remedy against Guarantor hereunder shall not be deemed a waiver thereof or preclude
the exercise of any other right or remedy hereunder. No waiver of any breach of any provision of this Guaranty shall be construed
as a waiver of any subsequent breach or of any other provision. The Seller Parties will not be bound to exhaust their resources
against the Purchaser or other parties, or any security or evidence of debt which the Seller Parties may hold before requiring
payment by Guarantor, and the Seller Parties may enforce the various remedies available to them and may realize upon the various
securities or any part thereof in any order as they may determine.

 

8. Successors and
Assigns. This Guaranty shall (a) be legally binding upon Guarantor, and Guarantor’s successors and assigns, provided that
Guarantor’s obligations hereunder may not be delegated or assigned without Vendor Representative’s prior written consent
and (b) benefit any and all of the Seller Parties’ successors and assigns. Each Seller Party may assign its rights under
this Guaranty upon ten (10) days advance notice to Guarantor.

 

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9. Entire Agreement.
This Guaranty and the SPA embody the whole agreement and understanding of the parties hereto relative to the subject matter hereof.
No modification or waiver of any provision hereof shall be enforceable unless approved by the Vendors’ Representative in
writing.

 

10. Governing Law,
Submission to Jurisdiction and Waiver of Jury Trial. THIS AGREEMENT, AND ALL MATTERS ARISING HEREUNDER OR RELATING
HERETO, SHALL IN ALL RESPECTS BE INTERPRETED, CONSTRUED AND GOVERNED BY THE SUBSTANTIVE LAWS OF the
STATE OF NEVADA and the federal Laws of THe UNITED STATES OF AMERICA applicable therein. EACH OF THE PARTIES IRREVOCABLY
KNOWINGLY AND VOLUNTARILY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE CITY AND COUNTY OF SAN FRANCISCO, CALIFORNIA
FOR THE PURPOSES OF ANY LITIGATION OR PROCEEDING HEREUNDER OR CONCERNING THE TERMS HEREOF AND (II) WAIVES THE RIGHT TO A JURY TRIAL
WITH RESPECT TO ANY LITIGATION, CLAIMS OR PROCEEDING HEREUNDER OR CONCERNING THE TERMS HEREOF.

 

11. Notices.
Any and all notices which may be given to Guarantor by the Vendors’ Representative hereunder shall be sent to Guarantor at
the address of Guarantor set forth in the Preamble hereto (or such other address at which Guarantor is then located) and shall
be deemed given to and received by Guarantor (i) when received by Guarantor if sent by nationally recognized overnight courier
or (ii) on the date sent by email of a PDF document if sent during normal business hours of the recipient, and on the next business
day if sent after normal business hours of the recipient.

 

12. Maximum Liability.
To the extent that applicable law otherwise would render the obligations of Guarantor hereunder invalid or unenforceable, Guarantor
shall nevertheless remain liable hereunder; provided however that Guarantor’s obligations shall be limited
to the maximum amount which does not result in such invalidity or unenforceability. Notwithstanding the foregoing, Guarantor’s
obligations hereunder shall be presumptively valid and enforceable to their fullest extent in accordance with the terms of this
Guaranty, as if this Section 12 were not a part of this Guaranty.

 

13. Severability.
The invalidity or unenforceability of any provision hereof shall not affect the remaining provisions which shall remain in full
force and effect.

 

14.       Counterparts.
This Guaranty may be executed in any number of counterparts, and with respect to any of the Vendors, by execution of an Omnibus
Signature Page to this Agreement and the SPA, each of which shall be enforceable against the parties actually executing such counterparts,
and all of which together shall constitute one instrument. In the event that any signature is delivered by an e-mail, which contains
a copy of an executed signature page such as a portable document format (.pdf) file, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such e-mail
of an executed signature page such as a .pdf signature page were an original thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

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THIS GUARANTY is dated the date and year first above written.

  

	 	CONSENTED AND AGREED TO:
	 	 	 
	 	INPIXON
	 	 	 
	 	By:	/s/ Nadir Ali
	 	Name: 	Nadir Ali
	 	Title:	Chief Executive Officer

 

	ACKNOWLEDGED AND AGREED TO:
	 
	See Omnibus Signature Pages to 
	SPA (Vendors do not sign here)
	 
	VENDORS’ REPRESENTATIVE
	 
	/s/ Kirk Moir	 
	Kirk Moir	 

 

 

4Exhibit 10.3

 

THIRD AMENDMENT AGREEMENT

 

This THIRD AMENDMENT AGREEMENT (this “Third
Amendment”) is made and entered into as of May 22, 2019 (“Amendment Date”) by and between
Sysorex, Inc., a Nevada corporation (the “Company”), and Inpixon, a Nevada corporation (the “Purchaser”).
In this Third Amendment, the Company and the Purchaser are sometimes referred to singularly as a “party” and collectively
as the “parties”. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Note (as
defined below) or the NPA (as defined below), as applicable.

 

WHEREAS, pursuant to that certain
Note Purchase Agreement, dated as of December 31, 2018 (as amended from time to time in accordance with its terms, the “NPA”),
by and between the Company and the Purchaser, the Company issued and sold to the Purchaser a secured promissory note in an initial
maximum principal amount up to an aggregate sum of $3,000,000.00, dated as of December 31, 2018 (as amended from time to time in
accordance with its terms, the “Note”);

 

WHEREAS, pursuant to that certain
First Amendment Agreement, dated February 4, 2019 (the “First Amendment”), by and between the Company
and the Purchaser, the NPA and the Note were amended to increase the maximum principal amount that may be outstanding at any time
from $3,000,000.00 to $5,000,000.00; and

 

WHEREAS, pursuant to that certain
Second Amendment Agreement, dated April 2, 2019 (the “Second Amendment”), by and between the Company
and the Purchaser, the NPA and the Note were amended to increase the maximum principal amount that may be outstanding at any time
from $5,000,000.00 to $8,000,000.00; and

 

WHEREAS, subject to the terms and
conditions herein, the parties desire to further amend the NPA and the Note to increase the maximum principal amount that may be
outstanding at any time from $8,000,000.00 to $10,000,000.00 in accordance with this Third Amendment.

 

NOW, THEREFORE, in consideration
of the mutual covenants of the parties as hereinafter set forth and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

 

AGREEMENT

 

1. Amendment to
the NPA and the Note. The reference in paragraph 1 of the NPA to “Eight Million Dollars ($8,000,000)” is hereby
deleted and replaced with “Ten Million Dollars ($10,000,000)”. The reference to $8,000,000.00 on the face of the Note
is hereby deleted and replaced with $10,000,000.00 and the reference to “Eight Million Dollars ($8,000,000.00)” in
the preamble to the Note is hereby deleted and replaced with “Ten Million Dollars ($10,000,000.00).” There are no
other changes to the NPA or Note.

 

2. Effect
on Transaction Documents.

 

2.1. As
of the date hereof, each reference in the NPA to “this Agreement,” “hereunder,” “hereof” or
words of like import referring to the NPA, and each reference in the Note to “the Note Purchase Agreement,” “the
Agreement,” “thereunder,” “thereof” or words of like import referring to the NPA shall mean and be
a reference to the NPA, as amended by the First Amendment, by the Second Amendment and this Third Amendment.

 

     

     

    

 

2.2. As
of the date hereof, each reference in the Note to “this Note,” “hereunder,” “hereof” or words
of like import referring to the Note, and each reference in the NPA to the “Note,” “thereunder,” “thereof”
or words of like import referring to the Note shall mean and be a reference to the Note, as amended by the First Amendment, the
Second Amendment and this Third Amendment.

 

2.3. Except
as expressly set forth herein, the terms and conditions of the NPA and Note shall remain in full force and effect and each of the
parties reserves all rights with respect to any other matters and remedies.

 

3. Fees
and Expenses. Each party shall pay the fees and expenses of its advisors, counsel, accountants and other experts, if any, and
all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this
Third Amendment.

 

4. Miscellaneous.

 

4.1. This
Third Amendment, the Second Amendment, the First Amendment, the Note, and the NPA contain the entire agreement of the parties with
respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such
matters. This Third Amendment shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. This Third Amendment may not be amended, modified or supplemented, and no provision of this Third Amendment may be waived,
other than by a written instrument duly executed and delivered by the parties.

 

4.2. It
is hereby understood that this Third Amendment does not constitute an admission of liability by any party, including any admission
of default under the NPA or the Note.

 

4.3. In
all respects, including all matters of construction, validity and performance, this Third Amendment shall be governed by, and construed
and enforced in accordance with, the laws of the State of Nevada as applicable to contracts made and performed in such State, without
regard to principles thereof regarding conflicts or choice of law.

 

4.4. This
Third Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same agreement. In the event that any signature is delivered in .pdf
by email, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed)
the same with the same force and effect as if such signature were the original thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the parties hereto have
caused this Third Amendment to be duly executed on the day and year first above written.

 

	 	INPIXON	 
	 	 	 	 
	 	By:	/s/ Nadir Ali
	 	 	Name: 	Nadir Ali
	 	 	Title:	Chief Executive Officer

 

[SIGNATURE PAGE OF THE PURCHASER]

 

     

     

    

 

	 	SYSOREX, INC.
	 	 	 
	 	By:	/s/ Zaman Khan
	 	 	Name: 	Zaman Khan
	 	 	Title:	Chief Executive Officer

 

[SIGNATURE PAGE OF THE COMPANY]

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