Document:

Exhibit 10.1

 

FORM OF WARRANT CANCELLATION AGREEMENT

 

This Warrant Cancellation
Agreement (this “Agreement”) is entered into as of [______] (the “Effective Date”), by and
between Andover National Corporation (the “Company”) and [______] (“Holder” and together
with the Company, the “Parties”).

 

WHEREAS,
Holder is the holder of (a) Class W-1 warrants to purchase [______] shares of Class A common
stock of the Company (the “Class W-1 Warrants”) and (b) Class W-2 warrants to purchase [______] shares
of Class A common stock of the Company (the “Class W-2 Warrants” and together with the Class W-1 Warrants, the
“Warrants”).

 

WHEREAS, the
Company and Holder have agreed to cancel all outstanding Warrants.

 

WHEREAS, in
connection with the consummation of the transactions contemplated under this Agreement, the Warrants will be cancelled and terminated.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.             Termination of the Warrants. All of the Warrants held by Holder will be automatically terminated as of the Effective
Date with no further action required by either the Company or Holder. Holder agrees to waive, and hereby waives, any and all rights
that he may have pursuant to the Warrants, including, without limitation, any notice requirements or other provisions contained
in any agreements relating to the Warrants. Holder hereby acknowledges and agrees that the consideration specified in Section
2 below represents full and final satisfaction of all of the Company’s obligations to Holder in respect of the Warrants.
Effective upon the termination of the Warrants, the Warrants will have no further force or effect and the Company will not have
any further obligations to Holder with respect to the Warrants.

 

2.             Consideration. Each of the Company and Holder hereby irrevocably acknowledges and agrees that, in exchange for the
execution of this Agreement, Holder shall receive $25,000 payable to the account specified by Holder, and that no additional consideration
of any kind is due to Holder pursuant to this Agreement.

 

3.             Representations and Warranties. Holder hereby represents and warrants that: (i) it is the sole owner and holder of
the Warrants, free and clear of all liens, claims, restrictions, pledges, security interests and encumbrances; (ii) it has the
full power, authority and legal right to execute and deliver this Agreement and perform the terms hereof; (iii) this Agreement
has been duly executed and delivered by Holder and constitutes its valid, binding and enforceable obligation; (iv) there is no
contractual obligation, or obligation under any law or court order, pursuant to which Holder has, directly or indirectly, granted
any option, warrant or other right to any Person to acquire any of the Warrants or shares of capital stock issuable upon exercise
of such Warrants; and (v) the execution, delivery and performance of this Agreement by Holder does not and will not (a) violate
any law or any order, judgment or decree of any court or other governmental or regulatory authority, or (b) violate or result in
a breach of or constitute (with due notice or lapse of time or both) a default under any contract, lease, loan agreement, mortgage,
security agreement, trust indenture or other agreement or instrument to which Holder is a party or by which it is bound.

 

4.             Release
of Claims. Holder, for itself and its affiliates, partners, heirs, beneficiaries, successors and assigns, if any, hereby
releases and absolutely forever discharges the Company and its affiliates, shareholders, directors, officers, employees,
agents and representatives and each of their respective affiliates (each, a “Released Party”) from any and
all losses, lawsuits, claims, counterclaims, actions, demands, assessments, proceedings, arbitrations, investigations,
damages, liabilities, obligations, deficiencies, taxes, costs and expenses of any nature whatsoever, whether known or
unknown, suspected or unsuspected, that any of them now has, at any time previously had or may have in the future as a
shareholder, director, officer, employee, agent or representative of the Company, arising by virtue of or in any matter
related to or arising from the undersigned’s ownership of any capital stock of, or other equity or voting securities or
interests in, or any convertible securities to purchase equity in, the Company, including, but not limited to, any claim that
the undersigned owns or has the right to acquire any capital stock of, or other equity or voting securities or interests in,
the Company (collectively, “Released Matters”). It is further agreed and understood that this is a full
and final release of all Released Matters whether known or unknown, fixed or contingent, manifested or unmanifested.

 

     

     

    

 

5.             Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Delaware (without giving effect to principles of conflicts of laws).

 

6.             Severable Provisions; Headings; Construction. If any term or provision of this Agreement is invalid, illegal or unenforceable
in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement
or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or
other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as
to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

 

7.             Entire Agreement. This Agreement constitutes the entire agreement between the Parties hereto pertaining to the subject
matter hereof, and supersede all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral
or written, of the Parties including, without limitation, any agreement relating to the Warrants. No supplement, modification or
waiver or termination of this Agreement or any provision hereof shall be binding unless executed in writing by the Parties to be
bound thereby. This Agreement shall be binding upon all successors and assigns of the Parties.

 

8.             Third Party Beneficiary. Holder acknowledges and agrees that each Released Party is a third party beneficiary of
the representations, warranties, covenants and agreements of Holder set forth in this Agreement.

 

9.             Further Assurances. Holder will, upon request, execute and deliver any additional documents reasonably deemed appropriate
or necessary by the Company in connection with the cancellation of the Warrants.

 

10.           Counterparts and Facsimile or Electronic Transmission. This Agreement may be executed in two or more counterparts,
any one of which need not contain the signatures of all Parties, but all of which counterparts when taken together will constitute
one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or electronic
transmission in a pdf. file or other similar image file, shall be effective as delivery of a manually executed counterpart thereof.

 

[Remainder of Page Intentionally Left
Blank]

 

     

     

    

 

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

 

ANDOVER NATIONAL CORPORATION

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

     

     

    

 

	 	[____________]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:Exhibit 10.2

 

Form
of Indemnification Agreement

 

This Indemnification
Agreement (this “Agreement”) is made and entered into this [ ]th day of [ ], 20[ ], by and between Andover
National Corporation, a Delaware corporation (the “Company”), and [ ] (“Indemnitee”).

 

Recitals

 

Whereas,
qualified persons are reluctant to serve corporations as directors or otherwise unless they are provided with broad indemnification
and insurance against claims arising out of their service to and activities on behalf of the corporations; and

 

Whereas,
the Company has determined that attracting and retaining such persons is in the best interests of the Company’s stockholders
and that it is reasonable, prudent and necessary for the Company to indemnify such persons to the fullest extent permitted by applicable
law and to provide reasonable assurance regarding insurance;

 

Now,
therefore, the Company and Indemnitee hereby agree as follows:

 

1.             Defined Terms; Construction.

 

(a)              
Defined Terms. As used in this Agreement, the following terms shall have the following meanings:

 

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

 

“Change in
Control” means, and shall be deemed to have occurred if, on or after the date of this Agreement,

 

(i)              any
“person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) other
than (A) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries
acting in such capacity, or (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined
in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing more than 20% of the total voting
power represented by the Company’s then outstanding Voting Securities,

 

(ii)             during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any
new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote
of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof,

 

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(iii)           
 the stockholders of the Company approve a merger or consolidation of the Company with any other corporation other than
a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing
to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 75%
of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately
after such merger or consolidation,

 

(iv)            the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition
by the Company of (in one transaction or a series of related transactions) all or substantially all of its assets; or

 

(v)             the
Company files or have filed against it, and such filing shall not be dismissed, any bankruptcy, insolvency or dissolution proceedings,
or a trustee, administrator or creditors committee shall be appointed to manage or supervise the affairs of the Company.

 

“Corporate
Status” means the status of a person who is or was a director (or a member of any committee of the Board), officer, employee
or agent (including without limitation a manager of a limited liability company) of the Company or any of its subsidiaries, or
of any predecessor thereof, or is or was serving at the request of the Company as a director (or a member of any committee of a
board of directors), officer, employee or agent (including without limitation a manager of a limited liability company) of another
entity, or of any predecessor thereof, including service with respect to an employee benefit plan.

 

“Determination”
means a determination that either (x) there is a reasonable basis for the conclusion that indemnification of Indemnitee
is proper in the circumstances because Indemnitee met a particular standard of conduct (a “Favorable Determination”),
or (y) there is no reasonable basis for the conclusion that indemnification of Indemnitee is proper in the circumstances
because Indemnitee met a particular standard of conduct (an “Adverse Determination”). An Adverse Determination
shall include the decision that a Determination was required in connection with indemnification and the decision as to whether
Indemnitee met the applicable standard of conduct.

 

“DGCL”
means the General Corporation Law of the State of Delaware, as amended from time to time.

 

“Expenses”
means all (i) attorneys’ fees and expenses, retainers, court, arbitration and mediation costs, transcript costs, fees
and expenses of experts, witness and public relations consultants bonds and fees, costs of collecting and producing
documents, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees
and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, being or preparing to be a witness in, appealing or otherwise participating
in a Proceeding or responding to, or objecting to, a request to provide discovery in any Proceeding, (ii) damages, judgments,
penalties, fines and amounts paid in settlement and any other amounts that Indemnitee becomes legally obligated to pay
(including any federal, state or local taxes imposed on Indemnitee as a result of receipt of reimbursements or advances of
expenses under this Agreement) and (iii) the premium, security for, and other costs relating to any costs bond, supersedes
bond or other appeal bond or its equivalent, whether civil, criminal, arbitrational, administrative or investigative with
respect to any Proceeding actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, because of any
claim or claims made against or by Indemnitee in connection with any Proceeding, whether formal or informal (including an
action by or in the right of the Company), to which Indemnitee is, was or at any time becomes a party or a witness, or is
threatened to be made a party to, participant in or a witness with respect to, or by reason of Indemnitee’ Corporate
Status.

 

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“Independent
Legal Counsel” means an attorney or firm of attorneys competent to render an opinion under the applicable law, selected
in accordance with the provisions of Section 5(e) hereof, who has not performed any services (other than services similar to those
contemplated to be performed by Independent Legal Counsel under this Agreement) for the Company or any of its subsidiaries or for
Indemnitee within the last three years.

 

“Proceeding”
means a threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative,
including without limitation a claim, counterclaim, demand, discovery request, formal or informal investigation, inquiry, administrative
hearing, arbitration or other form of alternative dispute resolution, including an appeal from any of the foregoing.

 

“Voting Securities”
means any securities of the Company that vote generally in the election of directors.

 

(b)              
Construction. For purposes of this Agreement,

 

(i)              References
to the Company and any of its “subsidiaries” shall include any corporation, limited liability company, partnership,
joint venture, trust or other entity or enterprise that before or after the date of this Agreement is party to a merger or consolidation
with the Company or any such subsidiary or that is a successor to the Company as contemplated by Section 9(e) hereof (whether
or not such successor has executed and delivered the written agreement contemplated by Section 9(e) hereof).

 

(ii)             References to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit
plan.

 

(iii)           
References to a “witness” in connection with a Proceeding shall include any interviewee or person called upon
to produce documents in connection with such Proceeding.

 

2.             Agreement to Serve.

 

Indemnitee agrees
to serve as a director of the Company or one or more of its subsidiaries and in such other capacities as Indemnitee may serve
at the request of the Company from time to time, and by its execution of this Agreement the Company confirms its request that
Indemnitee serve as a director and in such other capacities. Indemnitee shall be entitled to resign or otherwise terminate
such service with immediate effect at any time, and neither such resignation or termination nor the length of such service
shall affect Indemnitee’s rights under this Agreement. This Agreement shall not constitute an employment agreement,
supersede any employment agreement to which Indemnitee is a party or create any right of Indemnitee to continued employment
or appointment.

 

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3.             Indemnification.

 

(a)              
General Indemnification. The Company agrees to indemnify and hold harmless Indemnitee, to the fullest extent permitted
by applicable law in effect on the date hereof or as amended to increase the scope of permitted indemnification, against all Expenses,
losses, and liabilities (including all interest, taxes, assessments and other charges in connection therewith) incurred by Indemnitee
or on Indemnitee’s behalf in connection with any Proceeding or part thereof in any way connected with, resulting from or
relating to Indemnitee’s Corporate Status.

 

(b)              
Additional Indemnification Rights Regarding Enforcement Expenses. Without limiting the foregoing, in the event any
Proceeding is initiated by Indemnitee, the Company, or any other person to enforce or interpret this Agreement or any rights of
Indemnitee to indemnification or advancement of Expenses (or related obligations of Indemnitee) under the Company’s or any
such subsidiary’s certificate of incorporation, bylaws, or other organizational agreement or instrument, any other agreement
to which Indemnitee and the Company or any of its subsidiaries are party, any vote of stockholders or directors of the Company
or any of its subsidiaries, the DGCL, any other applicable law, or any liability insurance policy, the Company shall indemnify
Indemnitee against all Expenses incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding in proportion
to the success achieved by Indemnitee in such Proceeding and the efforts required to obtain such success, as determined by the
court presiding over such Proceeding.

 

(c)              
Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for a portion of any Expenses, losses and liabilities incurred by Indemnitee, but not for the total amount thereof, the
Company shall nevertheless indemnify Indemnitee for such portion.

 

(d)              
Nonexclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which
Indemnitee may be entitled under the certificate of incorporation, bylaws or other organizational agreement or instrument of the
Company or any of its subsidiaries, any other agreement, any vote of stockholders or directors, the DGCL, any other applicable
law or any liability insurance policy.

 

(e)              
Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be obligated under
this Agreement to indemnify Indemnitee:

 

(i)              For
Expenses incurred in connection with Proceedings initiated or brought voluntarily by the Indemnitee and not by way of
defense, counterclaim or crossclaim, except (x) as contemplated by Section 3(b), (y) in specific cases if the
Board has approved the initiation or bringing of such Proceeding, and (z) as may be required by law.

 

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(ii)             For
an accounting or disgorgement of profits arising from the purchase and sale by Indemnitee of securities within the meaning of
Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar provisions of any federal, state or local law
if the final, non-appealable judgment of a court of competent jurisdiction finds Indemnitee to be liable for disgorgement under
such Section 16(b).

 

(iii)            For
any compensation disgorged by a director or officer pursuant to an enforcement action under Section 304 of the Sarbanes-Oxley
Act or for violations of Regulation BTR.

 

(iv)            On
account of Indemnitee’s conduct that is established by a final, non-appealable judgment of a court of competent jurisdiction
as knowingly fraudulent, deliberately dishonest or constituting willful misconduct.

 

(v)             For which payment is actually made to Indemnitee under a valid and collectible insurance policy or under a valid and enforceable
indemnity clause, bylaw or agreement, except in respect of any excess beyond payment actually received by Indemnitee under such
insurance, clause, bylaw or agreement.

 

(vi)            if
and to the extent indemnification is prohibited by applicable law.

 

(f)               
Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee, who shall execute such documents and do such acts as the Company may reasonably
request to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

 

4.             Advancement of Expenses.

 

The Company shall
pay all Expenses incurred by Indemnitee in connection with any Proceeding in any way connected with, resulting from or
relating to Indemnitee’s Corporate Status, other than a Proceeding initiated by Indemnitee for which the Company would
not be obligated to indemnify Indemnitee pursuant to Section 3(e)(i), in advance of the final disposition (in accordance with
Section 5(c) hereof) of such Proceeding and without regard to whether Indemnitee will ultimately be entitled to be
indemnified for such Expenses and without regard to whether an Adverse Determination has been made, except as contemplated by
the last sentence of Section 5(f) hereof. The right to advances under this Section 4 shall in all events continue until final
disposition of any Proceeding, including any appeal therein. Advances shall be made without regard to Indemnitee’s
ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the
other provisions of this Agreement. Indemnitee shall qualify for advances upon the execution and delivery to the Company of
this Agreement, and Indemnitee shall repay such amounts advanced only if and to the extent that it shall ultimately be
determined in a decision by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not
entitled to be indemnified by the Company for such Expenses. The right to advancement described in this Section 4 is vested.
Such repayment obligation shall be unsecured and shall not bear interest. The Company shall not impose on Indemnitee
additional conditions to advancement or require from Indemnitee additional undertakings regarding repayment.

 

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5.             Indemnification Procedure.

 

(a)              
Notice of Proceeding; Cooperation. Indemnitee shall give the Company notice in writing as soon as practicable, and
in any event, no later than 30 days after Indemnitee becomes aware, of any Proceeding for which indemnification will or could be
sought under this Agreement, provided that any failure or delay in giving such notice shall not relieve the Company of its
obligations under this Agreement unless and to the extent that (i) none of the Company and its subsidiaries are party to or aware
of such Proceedings and (ii) the Company is materially prejudiced by such failure.

 

(b)              
Settlement. The Company shall not, without the prior written consent of Indemnitee, which consent may be withheld
in Indemnitee’s sole discretion, effect any settlement of any Proceeding against Indemnitee or which could have been brought
against Indemnitee unless such settlement solely involves the payment of money by persons other than Indemnitee and includes an
unconditional release of Indemnitee from all liability on any matters that are the subject of such Proceeding and an acknowledgment
that Indemnitee denies all wrongdoing in connection with such matters. The Company shall not be obligated to indemnify Indemnitee
against amounts paid in settlement of a Proceeding against Indemnitee if such settlement is effected by Indemnitee without the
Company’s prior written consent, which consent shall not be unreasonably withheld.

 

(c)              
Request for Payment; Timing of Payment. To obtain indemnification payments or advances under this Agreement, Indemnitee
shall submit to the Company a written request therefor, together with such invoices or other supporting information as may be reasonably
requested by the Company and reasonably available to Indemnitee. The Company shall make any indemnification payments to Indemnitee
required hereunder no later than 30 days, and any advances to Indemnitee no later than 20 days, after receipt of the written request
of Indemnitee.

 

(d)              
Determination. The Company intends that Indemnitee shall be indemnified to the fullest extent permitted by law as
provided in Section 3 hereof and that no Determination shall be required in connection with such indemnification. In no event shall
a Determination be required either in connection with advancement of Expenses pursuant to Section 4 hereof or in connection with
indemnification for Expenses incurred as a witness or incurred in connection with any Proceeding or portion thereof with respect
to which Indemnitee has been successful on the merits or otherwise. Any decision that a Determination is required by law in connection
with any other claim for indemnification by Indemnitee, and any such Determination, shall be made within 30 days after receipt
of Indemnitee’s written request for indemnification, as follows:

 

(i)              If
no Change in Control has occurred, (w) by a majority vote of the directors of the Company who are not parties to such Proceeding,
even though less than a quorum, with the advice of Independent Legal Counsel, or (x) by a committee of such directors designated
by majority vote of such directors, even though less than a quorum, with the advice of Independent Legal Counsel, or (y)
if there are no such directors, or if such directors so direct, by Independent Legal Counsel in a written opinion to the Company
and Indemnitee, or (z) by the stockholders of the Company.

 

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(ii)             If
a Change in Control has occurred, by Independent Legal Counsel in a written opinion to the Company and Indemnitee.

 

The Company shall pay all Expenses incurred
by Indemnitee in connection with a Determination.

 

(e)              
Independent Legal Counsel. If no Change in Control has occurred, Independent Legal Counsel shall be selected by the
Board and approved by Indemnitee, which approval shall not be unreasonably withheld or delayed. If a Change in Control has occurred,
Independent Legal Counsel shall be selected by Indemnitee and approved by the Company, which approval shall not be unreasonably
withheld or delayed. The Company shall pay the fees and expenses of Independent Legal Counsel and indemnify Independent Legal Counsel
against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to its
engagement pursuant to this Agreement.

 

(f)               
Consequences of Determination; Remedies of Indemnitee. The Company shall be bound by and shall have no right to challenge
a Favorable Determination. If an Adverse Determination is made, or if for any other reason the Company does not make timely indemnification
payments or advances of Expenses, Indemnitee shall have the right to commence a Proceeding before a court of competent jurisdiction
to challenge such Adverse Determination and/or to require the Company to make such payments or advances. Indemnitee shall be entitled
to be indemnified for all Expenses incurred in connection with such a Proceeding in accordance with Section 3(b) hereof and to
have such Expenses advanced by the Company in accordance with Section 4 hereof. If Indemnitee fails to timely challenge an Adverse
Determination, or if Indemnitee challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment
of a court of competent jurisdiction from which no appeal can be taken, then, to the extent and only to the extent required by
such Adverse Determination or final judgment, the Company shall not be obligated to indemnify or advance Expenses to Indemnitee
under this Agreement.

 

(g)              
Presumptions; Burden and Standard of Proof. In connection with any Determination, or any review of any Determination,
by any person, including a court:

 

(i)              It
shall be a presumption that a Determination is not required.

 

(ii)             It
shall be a presumption that Indemnitee has met the applicable standard of conduct and that indemnification of Indemnitee is proper
in the circumstances.

 

(iii)           
The burden of proof shall be on the Company to overcome the presumptions set forth in the preceding clauses (i) and (ii),
and each such presumption shall only be overcome if the Company establishes that there is no reasonable basis to support it.

 

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(iv)            The termination of any Proceeding by judgment, order, finding, settlement (whether with or without court approval) or conviction,
or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that indemnification is not proper
or that Indemnitee did not meet the applicable standard of conduct, that the Proceeding was not successful on the merits or otherwise
or that a court has determined that indemnification is not permitted by this Agreement or otherwise.

 

(v)             Neither the failure of any person or persons to have made a Determination nor an Adverse Determination by any person or
persons shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee did not meet the applicable standard
of conduct, and any Proceeding commenced by Indemnitee pursuant to Section 5(f) shall be de novo with respect to all determinations
of fact and law.

 

6.             Directors and Officers Liability Insurance.

 

(a)              
Maintenance of Insurance. So long as the Company or any of its subsidiaries maintains liability insurance for any
directors, officers, employees or agents of any such person, the Company shall ensure that Indemnitee is covered by such insurance
in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s
and its subsidiaries’ then current directors and officers. If at any date (i) such insurance ceases to cover acts and omissions
occurring during all or any part of the period of Indemnitee’s Corporate Status or (ii) neither the Company nor any of its
subsidiaries maintains any such insurance, the Company shall ensure that Indemnitee is covered, with respect to acts and omissions
prior to such date, for at least six years (or such shorter period as is available on commercially reasonable terms) from such
date, by other directors and officers liability insurance, in amounts and on terms (including the portion of the period of Indemnitee’s
Corporate Status covered) no less favorable to Indemnitee than the amounts and terms of the liability insurance maintained by the
Company on the date hereof.

 

(b)              
Notice to Insurers. Upon receipt of notice of a Proceeding pursuant to Section 5(a) hereof, the Company shall give
or cause to be given prompt notice of such Proceeding to all insurers providing liability insurance in accordance with the procedures
set forth in all applicable or potentially applicable policies. The Company shall thereafter take all necessary action to cause
such insurers to pay all amounts payable in accordance with the terms of such policies.

 

7.             Exculpation, etc.

 

(a)               Limitation
of Liability. Indemnitee shall not be personally liable to the Company or any of its subsidiaries or to the stockholders
of the Company or any such subsidiary for monetary damages for breach of fiduciary duty as a director of the Company or any
such subsidiary; provided, however, that the foregoing shall not eliminate or limit the liability of Indemnitee
(i) for any breach of Indemnitee’s duty of loyalty to the Company or such subsidiary or the stockholders
thereof; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of the law; (iii) under Section 174 of the DGCL or any similar provision of other applicable corporations law; or
(iv) for any transaction from which Indemnitee derived an improper personal benefit. If the DGCL or such other
applicable law shall be amended to permit further elimination or limitation of the personal liability of directors, then the
liability of Indemnitee shall, automatically, without any further action, be eliminated or limited to the fullest extent
permitted by the DGCL or such other applicable law as so amended.

 

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(b)              
Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right
of the Company or any of its subsidiaries against Indemnitee or Indemnitee’s estate, spouses, heirs, executors, personal
or legal representatives, administrators or assigns after the expiration of two years from the date of accrual of such cause of
action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely
filing of a legal action within such two-year period, provided that if any shorter period of limitations is otherwise applicable
to any such cause of action, such shorter period shall govern.

 

8.             Miscellaneous.

 

(a)              
Non-Circumvention. The Company shall not seek or agree to any order of any court or other governmental authority
that would prohibit or otherwise interfere, and shall not take or fail to take any other action if such action or failure would
reasonably be expected to have the effect of prohibiting or otherwise interfering, with the performance of the Company’s
indemnification, advancement or other obligations under this Agreement.

 

(b)              
Severability. If any section or part of this Agreement shall be adjudged invalid by a court of competent jurisdiction,
the remainder of the Agreement shall not be affected thereby and shall remain in full force and effect.

 

(c)              
Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall
be deemed duly given (i) on the date of delivery if delivered personally, or by electronic mail or facsimile, upon confirmation
of receipt, (ii) on the first business day following the date of dispatch if delivered by a recognized next-day courier
service or (iii) on the third business day following the date of mailing if delivered by domestic registered or certified
mail, properly addressed, or on the fifth business day following the date of mailing if sent by airmail from a country outside
of the United States of America, to Indemnitee at the address shown on the signature page of this Agreement, to the Company at
the address shown on the signature page of this Agreement, or in either case as subsequently modified by written notice.

 

(d)              
Amendment and Termination; Waivers. No amendment, modification, termination or cancellation of this Agreement shall
be effective unless it is in writing signed by all the parties hereto. No waiver of any of the provisions of this Agreement shall
be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute
a continuing waiver.

 

(e)               Successors
and Assigns. This Agreement shall be binding upon the Company and its respective successors and assigns, including
without limitation any acquiror of all or substantially all of the Company’s assets or business, any person (as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) that acquires beneficial
ownership of securities of the Company representing more than 20% of the total voting power represented by the
Company’s then outstanding Voting Securities and any survivor of any merger or consolidation to which the Company is
party, and shall inure to the benefit of and be enforceable by Indemnitee and Indemnitee’s estate, spouses, heirs,
executors, personal or legal representatives, administrators and assigns. The Company shall require and cause any such
successor, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform
this Agreement as if it were named as the Company herein, and the Company shall not permit any such purchase of assets or
business, acquisition of securities or merger or consolidation to occur until such written agreement has been executed and
delivered. No such assumption and agreement shall relieve the Company of any of its obligations hereunder, and this Agreement
shall not otherwise be assignable by the Company. This Agreement is personal in nature and neither of the parties hereto
shall, without the consent of the other, assign or delegate this Agreement or any rights or obligations. Without limiting the
generality or effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable,
whether by pledge, creation of a security interest or otherwise, other than by a transfer by Indemnitee’s will or by
estate law, and, in the event of any attempted assignment or transfer contrary to this Section 9(e), the Company shall have
no liability to pay any amount so attempted to be assigned or transferred.

 

    9

     

    

 

(f)               
Choice of Law; Consent to Jurisdiction. This Agreement shall be governed by and its provisions construed in accordance
with the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely
within Delaware, without regard to the conflict of law principles thereof. The Company and Indemnitee each hereby irrevocably consents
to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any Proceeding which arises out
of or relates to this Agreement and agrees that any action instituted under this Agreement shall be brought only in the state courts
of the State of Delaware.

 

(g)              
Integration and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and
supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject
matter hereof between the parties hereto, provided that the provisions hereof shall not supersede the provisions of the Company’s
certificate of incorporation, bylaws or other organizational agreement or instrument, any other agreement, any vote of stockholders
or directors, the DGCL or other applicable law, to the extent any such provisions shall be more favorable to Indemnitee than the
provisions hereof.

 

(h)              
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

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left blank]

 

    10

     

    

 

In
Witness Whereof, the parties hereto have executed this Agreement as of the date first above written.

 

	 	ANDOVER NATIONAL CORPORATION
	 	 
	 	By:	              
	 	Name:
	 	Title:

 

	 	Address:	 
	 	 	 
	 	 	 

 

	 
	 	INDEMNITEE
	 
	 	By:	            
	 	Name:
	 	Title:

 

	 	Address:	 
	 	 	 
	 	 	 

 

    11

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