Document:

Exhibit 10.17

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement
(this “Agreement”) is dated as of [●], 2022, between Larkspur Health Acquisition Corp., a Delaware corporation
(the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and assigns,
a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, the Purchaser has
provided services to the Company in connection with the Business Combination (the “Services”); and

 

WHEREAS, subject to the terms
and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act (as defined below), and Rule 506 promulgated
thereunder, the Company desires to issue in consideration for the Services to each Purchaser, and each Purchaser, severally and not jointly,
desires to receive from the Company in exchange for providing the Services, securities of the Company as more fully described in this
Agreement.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

 

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined herein have the meanings
given to such terms in the Certificate of Designation (as defined herein), and (b) the following terms have the meanings set forth in
this Section 1.1:

 

“AGP”
means Alliance Global Partners, LLC.

 

“Acquiring
Person” shall have the meaning ascribed to such term in Section 4.7.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

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

 

“Business
Combination” means the transactions contemplated by the Merger Agreement.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed
to be authorized or required by law to remain closed due to “stay at home,” “shelter-in-place,” “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental
authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York
are generally are open for use by customers on such day.

 

     

     

    

 

“Certificate
of Designation” means the Certificate of Designation to be filed prior to the Closing by the Company with the Secretary of State
of Delaware, in the form of Exhibit A attached hereto.

 

“Closing”
means the closing of the purchase and issuance of the Securities pursuant to Section 2.1.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties
thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii) the Company’s
obligations to deliver the Securities, in each case, have been satisfied or waived.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the Class A common stock of the Company, par value $0.0001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company which would entitle the holder thereof to acquire at any time Common
Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Company
Counsel” means Alston & Bird LLP, with offices located at 90 Park Avenue, 15th Floor, New York, NY 10016.

 

“Conversion
Price” shall have the meaning ascribed to such term in the Certificate of Designation.

 

“Conversion
Shares” means the shares of Common Stock issued and issuable upon conversion of the Preferred Stock in accordance with the terms
of the Certificate of Designation.

 

“Contingent
Obligation” means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect
to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such
liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or
discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in
whole or in part) against loss with respect thereto.

 

“Disclosure
Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time) and
before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date
hereof, unless otherwise instructed as to an earlier time by AGP, and (ii) if this Agreement is signed between midnight (New York City
time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof, unless otherwise
instructed as to an earlier time by AGP.

 

“Disqualification
Event” shall have the meaning ascribed to such term in Section 3.1(ee).

 

“Effective
Date” means the earlier of the date that (a) the initial Registration Statement has been declared effective by the Commission
registering all of the Underlying Shares by the holders of Preferred Stock (assuming for such purposes the Conversion Price equals the
Floor Price (as defined in the Certificate of Designation), (b) all of the Underlying Shares have been sold pursuant to Rule 144 or may
be sold pursuant to Rule 144 without the requirement of the sale of such shares to be in compliance without volume or manner-of-sale restrictions,
(c) the first date following the one year anniversary of the Closing Date on which no holder of Underlying Shares or Preferred Stock is
an Affiliate of the Company, or (d) all of the Underlying Shares may be sold pursuant to an exemption from registration under Section
4(a)(1) of the Securities Act without volume or manner-of-sale restrictions and Company Counsel has delivered to such holders a standing
written unqualified opinion that resales may then be made by such holders of the Underlying Shares pursuant to such exemption which opinion
shall be in form and substance reasonably acceptable to such holders.

 

    2

     

    

 

“Exempt Issuance”
means the issuance of (a) any securities of the Company to employees, officers, directors, consultants, contractors, vendors or other
agents of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of
the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose for services
rendered to the Company, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder and/or other
securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement,
provided that such securities have not been amended since the date of this Agreement to increase the number of such securities
or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with stock splits
or combinations) or to extend the term of such securities, (c) the Underlying Shares, (d) any Future Equity Issuance, and (e) securities
issued pursuant to any merger, acquisition or strategic transaction or partnership approved by a majority of the directors of the Company,
provided that such securities are issued as “restricted securities” (as defined in Rule 144) and provided
that any such issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries,
an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company
additional benefits in addition to the investment of funds but any such Exempt Issuance shall not include a transaction
in which the Company is issuing securities (x) primarily for the purpose of raising capital, including an at-the-market offering, (y)
to an entity whose primary business is investing in securities or (z) at a price equal to or less than the Floor Price.

 

“Evaluation
Date” shall have the meaning ascribed to such term in Section 3.1(s).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“Future Equity
Issuance” means the issuance of shares of Common Stock or securities convertible into Common Stock in an amount not to exceed
$35.0 million in the aggregate; provided that the proceeds of such issuance are used to redeem the Preferred Stock
pursuant to the terms of the Certificate of Designation.

 

“GAAP”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Governmental
Entity” means any nation, state, county, city, town, village, district, or other political jurisdiction of any nature, federal,
state, local, municipal, foreign, or other government, governmental or quasi-governmental authority of any nature (including any governmental
agency, branch, department, official, or entity and any court or other tribunal), multi-national organization or body; or body exercising,
or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory, or taxing authority or power of any
nature or instrumentality of any of the foregoing, including any entity or enterprise owned or controlled by a government or a public
international organization or any of the foregoing.

 

“Indebtedness”
of any Person means, without duplication (A) all indebtedness for borrowed money, (B) all obligations issued, undertaken or assumed as
the deferred purchase price of property or services (including, without limitation, “capital leases” in accordance with GAAP)
(other than trade payables entered into in the ordinary course of business consistent with past practice), (C) all reimbursement or payment
obligations with respect to letters of credit, surety bonds and other similar instruments, (D) all obligations evidenced by notes, bonds,
debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets
or businesses, (E) all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing,
in either case with respect to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies
of the seller or bank under such agreement in the event of default are limited to repossession or sale of such property), (F) all monetary
obligations under any leasing or similar arrangement which, in connection with GAAP, consistently applied for the periods covered thereby,
is classified as a capital lease, (G) all indebtedness referred to in clauses (A) through (F) above secured by (or for which the holder
of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien upon or in any property or assets (including
accounts and contract rights) owned by any Person, even though the Person which owns such assets or property has not assumed or become
liable for the payment of such indebtedness, and (H) all Contingent Obligations in respect of indebtedness or obligations of others of
the kinds referred to in clauses (A) through (G) above

 

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“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Investor
Purchase Agreement” means the Securities Purchase Agreement dated as of July 20, 2022 between the Company and the purchasers
named on the signature pages thereto, as such may be amended or supplemented from time to time

 

“Issuer
Covered Person” and “Issuer Covered Person” shall have the meaning ascribed to such term in Section 3.1(ee).

 

“Legend
Removal Date” shall have the meaning ascribed to such term in Section 4.1(c).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Management
Presentation” means the PowerPoint presentation dated July 20, 2022 detailing the transactions contemplated by the Merger Agreement.

 

“Material
Adverse Effect” means (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, 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.

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(n).

 

“Maximum
Rate” shall have the meaning ascribed to such term in Section 5.17.

 

“Merger
Agreement” means the Business Combination Agreement dated as of July 20, 0222 between the Company and ZyVersa.

 

“Organizational
Documents” means, with respect to any Person that is an entity, its certificate of incorporation or formation, bylaws, operating
agreement, memorandum and articles of association or similar organizational documents, in each case, as amended.

 

    4

     

    

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Preferred
Stock” means the shares of the Company’s Series B Convertible Preferred Stock issued hereunder having the rights, preferences
and privileges set forth in the Certificate of Designation, in the form of Exhibit A hereto.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding, whether commenced or threatened.

 

“Public
Information Failure” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Public
Information Failure Payments” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.10.

 

“Redemption”
means the possible redemption by the stockholders of the Company of any Common Stock or Common Stock Equivalents, as contemplated in the
Company’s prospectus in connection with the Company’s initial public offering.

 

“Registration
Rights Agreement” means the Registration Rights Agreement among the Company and the Purchasers, in the form of Exhibit
B attached hereto.

 

“Registration
Statement” means a registration statement meeting the requirements set forth in the Registration Rights Agreement and covering
the resale of the Underlying Shares by each Purchaser as provided for in the Registration Rights Agreement.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required
Minimum” means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in
the future pursuant to the Transaction Documents, including conversion in full of all shares of Preferred Stock (assuming on such date
the shares of Preferred Stock are converted in full based upon the Floor Price (as defined in the Certificate of Designation)), ignoring
any conversion or exercise limits set forth therein, and assuming that any previously unconverted shares of Preferred Stock are held until
the third anniversary of the Closing Date.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“SEC Reports”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Securities”
means the Preferred Stock and the Underlying Shares.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

    5

     

    

 

“Stockholder
Approval” means: (i) the 19.9% Approval (as defined below), (ii) the approval of the stockholders of the Company to the Business
Combination and (ii) such stockholder approval as may be required to ensure the Company has sufficient authorized capital stock to issue
the Securities pursuant to this Agreement and the Certificate of Designation.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be
deemed to include locating and/or borrowing shares of Common Stock or any transaction marked “short exempt”).

 

“Sponsor”
means Larkspur Health LLC.

 

“Stated
Value” means $1,000 per share of Preferred Stock.

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount due and owed to Purchaser in consideration for the Services and to
be paid for with the Preferred Stock issued to Purchaser in such exchange pursuant to the Purchase Agreement, as specified below such
Purchaser’s name on the signature page hereof and next to the heading “Subscription Amount”.

 

“target”
means ZyVersa.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock
Exchange (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, the Certificate of Designation, the Registration Rights Agreement, and all exhibits and schedules
thereto.

 

“Transfer
Agent” means Continental Stock Transfer & Trust Company, the current transfer agent of the Company, and any successor transfer
agent of the Company.

 

“Underlying
Shares” means the Conversion Shares.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if not listed on a Trading Market, but quoted on OTCQB or OTCQX, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if
the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the
Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an
independent appraiser selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“Warrant
Agreement” means the warrant agreement dated December 20, 2021 between the Company and the Transfer Agent.

 

“ZyVersa”
means ZyVersa Therapeutics, Inc., a Florida corporation.

 

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ARTICLE II.

 

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery
of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to receive in
exchange for the Services provided by such Purchaser to the Company, shares of Preferred Stock with an aggregate Stated Value for each
Purchaser equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser. The
aggregate number of shares of Preferred Stock sold hereunder shall be [●].

 

2.2 Deliveries.

 

(a) On or prior
to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i) this Agreement
duly executed by the Company;

 

(ii) a copy of the
Irrevocable Transfer Agent Instructions, in the form acceptable to such Purchaser, which instructions shall have been delivered to and
acknowledged in writing by the Company’s transfer agent;

 

(iii) a legal opinion
of Company Counsel in a form reasonably acceptable to the Purchasers with respect to the exemption from registration under the Securities
Act applicable to the transactions contemplated by this Agreement;

 

(iv) a certificate
evidencing (or reasonable evidence of issuance by book entry, as applicable, of) such aggregate number of shares of Preferred Stock equal
to such Purchaser’s Subscription Amount divided by the Stated Value, registered in the name of such Purchaser and evidence of the
filing and acceptance of the Certificate of Designation from the Secretary of State of Delaware;

 

(v) a certificate
duly executed by a Chief Executive Officer of the Company, dated as of the Closing Date, certifying that each and every representation
and warranty of the Company shall be true and correct in all material respects (or, to the extent representations or warranties are qualified
by materiality or Material Adverse Effect, in all respects) as of the date when made and as of the Closing Date as though originally made
at that time (except for representations and warranties that speak as of a specific date, which shall be true and correct as of such specific
date) and the Company shall have performed, satisfied and complied in all respects with the covenants, agreements and conditions required
to be performed, satisfied or complied with by the Company at or prior to the Closing Date;

 

(vi) a certificate
duly executed by the Chief Executive Officer of the Target, dated as of the Closing Date, in a form reasonably acceptable to such Purchaser,
certifying that each and every representation and warranty of the Target shall be true and correct in all material respects (or, to the
extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) as of the date when made
and as of the Closing Date as though originally made at that time (except for representations and warranties that speak as of a specific
date, which shall be true and correct as of such specific date) and the Target shall have performed, satisfied and complied in all respects
with the covenants, agreements and conditions required to be performed, satisfied or complied with by the Target at or prior to the Closing
Date;

 

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(vii) a certificate
executed by the Secretary of the Company, in a form reasonably acceptable to such Purchaser, and dated as of the Closing Date, as to (i)
the resolutions with respect to the transactions contemplated hereby and pursuant to the Merger Agreement as adopted by the Company’s
board of directors, (ii) the certificate of incorporation of the Company and (iii) the bylaws of the Company, each as in effect at the
Closing;

 

(viii) a certificate
executed by the Secretary of the Target, in a form reasonably acceptable to such Purchaser, and dated as of the Closing Date, as to (i)
the resolutions with respect to the transactions contemplated hereby and pursuant to the Merger Agreement as adopted by the Target’s
board of directors, (ii) the certificate of formation of the Target and (iii) the bylaws of the Target, each as in effect at the Closing;

 

(ix) a letter from
the Company’s transfer agent certifying the number of shares of Common Stock outstanding on the Closing Date immediately prior to
the Closing; and

 

(x) the Registration
Rights Agreement duly executed by the Company.

 

(b) On or prior
to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i) this Agreement
duly executed by such Purchaser; and

 

(ii) the Registration
Rights Agreement duly executed by such Purchaser.

 

2.3 Closing
Conditions.

 

(a) The obligations
of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) ZyVersa
shall have received commitments by August 31, 2022 of at least $3.0 million in connection with the sale of Securities pursuant this Agreement
or a private placement of its common stock;

 

(ii) the
closing of the Business Combination;

 

(iii) all
conditions precedent to the closing of the Business Combination, including, without limitation, the approval of the Company’s stockholders,
shall have been satisfied (as determined by the parties to the Merger Agreement, and other than those conditions which, by their nature,
are to be satisfied at the closing of the Business Combination) or waived in writing by the party entitled to the benefit thereof under
the Merger Agreement, and the closing of the Business Combination shall be scheduled to occur concurrently with the Closing;

 

(iv) the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific
date therein in which case they shall be accurate as of such date);

 

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(v) all
obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been performed;

 

(vi) the
Stockholder Approval being obtained by the Company; and

 

(vii) the
delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b) The respective
obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) ZyVersa
shall have received commitments by August 31, 2022 of at least $3.0 million in connection with the sale of Securities pursuant to this
Agreement or a private placement of its common stock;

 

(ii) the
closing of the Business Combination;

 

(iii) the
Stockholder Approval being obtained by the Company;

 

(iv) all
conditions precedent to the closing of the Business Combination set forth in the Merger Agreement shall have been satisfied or waived
in writing by the party entitled to the benefit thereof under the Merger Agreement, and the closing of the Business Combination shall
be scheduled to occur concurrently with the Closing;

 

(v) the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of
a specific date therein in which case they shall be accurate as of such date);

 

(vi) all
obligations, covenants and agreements of the Company required to be performed, satisfied or complied at or prior to the Closing Date shall
have been performed;

 

(vii) the
delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(viii) the
Merger Agreement shall not have been amended or modified, nor shall any provisions thereunder have been waived, in any case, in a manner
that would reasonably be expected to adversely affect the economic benefits that any Purchaser (in its capacity as such) would reasonably
expect to receive under this Agreement or the liabilities that such Purchaser would reasonably expect to incur under this Agreement without
the written consent of such Purchaser (which, subject to the conditions of this clause (iii) shall not be unreasonably withheld);

 

(ix) there
shall have been no Material Adverse Effect with respect to the Company since the date hereof;

 

(x) there
has been no Target Material Adverse Effect (as defined below) with respect to the Target since the date hereof;

 

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(xi) the
Company shall have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for the sale of the
Securities, including without limitation, those required by any Trading Market, if any;

 

(xii) the
Company shall have obtained approval of the Nasdaq Capital Market to list or designate for quotation (as the case may be) the Underlying
Shares; and

 

(xiii) from
the date hereof to the Closing Date, trading in the Common Stock shall not have been continuously halted or suspended by the Commission
or the Company’s principal Trading Market and, at any time prior to the Closing Date, trading in securities generally as reported
by Bloomberg L.P. shall not have been continuously suspended or limited, or minimum prices shall not have been established on securities
whose trades are reported by such service, or on any Trading Market, for more than 11.25 consecutive hours over any two consecutive Trading
Days nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall there have
occurred any material outbreak or escalation of hostilities or other national or international calamity of such magnitude in its effect
on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser, makes it
impracticable or inadvisable to purchase the Securities at the Closing.

 

ARTICLE III.

 

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to each Purchaser as of the
date of this Agreement and as of the Closing Date (or, if such representations and warranties are made with respect to a specified date,
as of such date):

 

(a) Organization
and Qualification. The Company is an entity duly incorporated, validly existing and in good standing under the laws of the State of
Delaware, with the requisite corporate power and authority to own, lease and operate its properties and assets and to carry on its business
as currently conducted. The Company is not in violation nor default of any of the provisions of its Organizational Documents in any material
respect. The Company is duly qualified to conduct business and is in good standing 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 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.
The Company has no subsidiaries as of the date of this Agreement.

 

(b) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The
execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further
action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other
than in connection with the Required Approvals. This Agreement and each other Transaction Document to which it is a party has been (or
upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute
the valid and binding obligation of the Company enforceable against, as applicable, the Company in accordance with its terms, except
(i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally or by any applicable statute of limitation or by any valid defense
of set-off or counterclaim, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

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(c) No Conflicts.
The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which it is a party, the
issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby do not and will not
(i) conflict with or violate any provision of the Company’s Organizational Documents, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the
properties or assets of the Company, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company debt or otherwise) or other understanding to which the Company is a party or by which any property or asset of the Company is
bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order,
judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal
and state securities laws and regulations), or by which any property or asset of the Company is bound or affected; except in the case
of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(d) 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 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: (i) the filings as contemplated
by this Agreement, (ii) the filings required to be made with the Commission pursuant to the Registration Rights Agreement, (iii) the notice
and/or application(s), if any, to each applicable Trading Market for the issuance and sale of the Securities and the listing of the Underlying
Shares for trading thereon in the time and manner required thereby, (iv) the filing with the Commission of a Form D and a proxy statement
on Schedule 14A to be filed in connection with the Business Combination, and such filings as are required to be made under applicable
requirements, if any, of the Exchange Act or applicable state securities laws, (v) the filing with the Federal Trade Commission of any
notice and report required to be filed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, to be filed in connection
with the Business Combination, and (vi) Stockholder Approval (collectively, the “Required Approvals”).

 

(e) Issuance
of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than
restrictions on transfer provided for in the Transaction Documents. The Underlying Shares, when issued in accordance with the terms of
the Transaction Documents, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other
than restrictions on transfer provided for in the Transaction Documents. The Company will include a shareholder proposal in the proxy
statement on Schedule 14A to be filed in connection with the Business Combination to approve an increase in authorized capital stock such
that, immediately prior to Closing, it will have reserved from its duly authorized capital stock a number of shares of Common Stock for
issuance of the Underlying Shares at least equal to the Required Minimum on the date hereof.

 

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(f) Capitalization.
The issued and outstanding capital stock of the Company as of the date hereof is as set forth in the SEC Reports on, which shall also
include the number of shares of Common Stock owned beneficially, and of record, by Affiliates of the Company as of the date hereof. The
Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to
the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of Common Stock to employees
pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents
outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has any right of first refusal,
preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents.
Except as a result of the purchase and sale of the Securities pursuant to this Agreement or as set forth in the SEC Reports, there are
no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities,
rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire,
any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue
additional shares of Common Stock or Common Stock Equivalents. Other than as expressly set forth in the Merger Agreement, as set forth
in this Agreement, or in the SEC Reports, the issuance and sale of the Securities will not obligate the Company to issue shares of Common
Stock or other securities to any Person (other than the Purchasers). Other than as set forth in the SEC Reports, there are no outstanding
securities or instruments of the Company with any provision that adjusts the exercise, conversion, exchange or reset price of such security
or instrument upon an issuance of securities by the Company. Other than the Redemption, as expressly set forth in the Warrant Agreement,
or in the SEC Reports, there are no outstanding securities or instruments of the Company that contain any redemption or similar provisions,
and there are no contracts, commitments, understandings or arrangements by which the Company is or may become bound to redeem a security
of the Company. Except as set forth in the SEC Reports, the Company does not have any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized,
validly issued, fully paid and nonassessable, and have been issued in compliance with all federal and state securities laws, and none
of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities.
Except as set forth in the SEC Reports, here are no stockholders agreements, voting agreements or other similar agreements with respect
to the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the
Company’s stockholders. The Company has not entered into any side letter or similar agreement with any Purchaser or any other investor
in connection with such Purchaser’s or investor’s direct or indirect investment in the Company.

 

(g) SEC Reports;
Financial Statements. The Company, since its initial public offering, has filed all reports, schedules, registration statements, proxy
statements, 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 (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. As of their respective dates, 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 an issuer subject to Rule 144(i) under the Securities Act. 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.

 

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(h) Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included within
the SEC Reports and except as disclosed in the SEC Reports, (i) there has been no event, occurrence or development that has had or that
could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or
otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past
practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed in
filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made
any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or
redeem any shares of its capital stock, and (v) the Company has not issued any equity securities to any officer, director or Affiliate,
or pursuant to existing Company stock option plans. Except as disclosed in the SEC Reports, the Company does not have pending before the
Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated by this Agreement,
no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist
with respect to the Company or its business, prospects, properties, operations, assets or financial condition, that would be required
to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been
publicly disclosed (in the SEC Reports or otherwise) at least one Trading Day prior to the date that this representation is made.

 

(i) Compliance.
The Company: (i) is not in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse
of time or both, would result in a default by the Company under), nor has the Company received notice of a claim that it is in default
under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party
or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is not in violation
of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is not, nor has been, in violation
of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state
and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment
and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(j) Litigation.
Except as set forth in the SEC Reports there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or,
to the knowledge of the Company, threatened against or affecting the Company or any of its properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, “Actions”).
Additionally, except as set forth in the SEC Reports, there is no Action that (i) adversely affects or challenges the legality, validity
or enforceability of any of the Transaction Documents or the Securities or (ii) could, if there were an unfavorable decision, have or
reasonably be expected to result in a Material Adverse Effect. The Company is not, nor has been, the subject of any Action involving a
claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. Except as set forth
in the SEC Reports, there has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by
the Commission involving the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any
registration statement filed by the Company under the Exchange Act or the Securities Act.

 

(k) Transactions
with Affiliates and Employees. Except as described in the SEC Reports, none of the officers or directors of the Company and, to the
knowledge of the Company, none of the employees of the Company is presently a party to any transaction with the Company (other than for
services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending
of money to or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, stockholder,
member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered,
(ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

 

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(l) Sarbanes-Oxley;
Internal Accounting Controls. The Company is in compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002
that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that
are effective as of the date hereof and as of the Closing Date. The Company has established disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures to ensure that information
required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the Commission’s rules and forms. The Company’s certifying officers have evaluated
the effectiveness of the disclosure controls and procedures of the Company as of the end of the period covered by the most recently filed
periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented in its most recently
filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls
and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no changes in the internal
control over financial reporting (as such term is defined in the Exchange Act) of the Company that have materially affected, or is reasonably
likely to materially affect, the internal control over financial reporting of the Company.

 

(m) Certain Fees.
Other than as provided for in the Investor Purchase Agreement or as set forth in the SEC Reports, no brokerage or finder’s fees
or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have no
obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated
in this Section that may be due in connection with the transactions contemplated by the Transaction Documents.

 

(n) Private Placement.
Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration under the
Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby. Subject to
Stockholder Approval requirements, the issuance and sale of the Securities hereunder will not contravene the rules and regulations of
the Trading Market.

 

(o) Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities and consummation
of the Business Combination, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment
Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become an “investment company”
subject to registration under the Investment Company Act of 1940, as amended.

 

(p) Registration
Rights. Other than each of the Purchasers and as disclosed in the SEC Reports, no Person has any right to cause the Company to effect
the registration under the Securities Act of any securities of the Company.

 

(q) Listing and
Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has
taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock
under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration.
The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the Common Stock is
or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such
Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance
with all such listing and maintenance requirements. The Common Stock is currently eligible for electronic transfer through the Depository
Trust Company or another established clearing corporation and the Company is current in payment of the fees to the Depository Trust Company
(or such other established clearing corporation) in connection with such electronic transfer.

 

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(r) Application
of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable
any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar
anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents) or the laws of its state
of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company fulfilling their obligations
or exercising their rights under the Transaction Documents, including without limitation as a result of the Company’s issuance of
the Securities and the Purchasers’ ownership of the Securities.

 

(s) Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents and the Management
Presentation, the Company confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their
agents or counsel with any information that it believes constitutes or might constitute material, non-public information. The Company
understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in securities of the
Company. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company, its business and the
transactions contemplated hereby is true and correct and do not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading.
The press releases disseminated by the Company during the twelve months preceding the date of this Agreement taken as a whole do not contain
any untrue statement of a material fact or omit 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 and when made, not misleading. The Company acknowledges
and agrees that no Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby
other than those specifically set forth in Section 3.2 hereof.

 

(t) No Integrated
Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, neither the
Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales
of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities to be
integrated with prior offerings by the Company for purposes of (i) the Securities Act which would require the registration of any such
securities under the Securities Act, or (ii) any applicable stockholder approval provisions of any Trading Market on which any of the
securities of the Company are listed or designated.

 

(u) Tax Status.
Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect,
the Company (i) has made or filed all United States federal, state and local income and all foreign income and franchise tax returns,
reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments
and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii) has set aside
on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction,
and the officers of the Company know of no basis for any such claim.

 

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(v) No General
Solicitation. Neither the Company nor any Person acting on behalf of the Company has offered or sold any of the Securities by any
form of general solicitation or general advertising. Assuming the accuracy of the Purchaser’s representations and warranties under
this Agreement, the Company has offered the Securities for sale only to the Purchasers and certain other “accredited investors”
within the meaning of Rule 501 under the Securities Act.

 

(w) Foreign Corrupt
Practices. Neither the Company nor, to the knowledge of the Company, any agent or other person acting on behalf of the Company has
(i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign
or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign
or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company (or
made by any person acting on its behalf of which the Company is aware) which is in violation of law or (iv) violated in any material respect
any provision of FCPA.

 

(x) Accountants.
The Company’s accounting firm is Marcum LLP. To the knowledge and belief of the Company, such accounting firm (i) is a registered
public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to
be included in the Company’s Annual Report for the fiscal year ending December 31, 2021.

 

(y) No Disagreements
with Accountants and Lawyers. There are no disagreements of any kind presently existing, or reasonably anticipated by the Company
to arise, between the Company and the accountants and lawyers formerly or presently employed by the Company and the Company is current
with respect to any fees owed to its accountants and lawyers which could affect the Company’s ability to perform any of its obligations
under any of the Transaction Documents.

 

(z) Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting solely
in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby.
The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their
respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby is merely
incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s
decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions
contemplated hereby by the Company and its representatives.

 

(aa) Acknowledgment
Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere herein to the contrary notwithstanding (except
for Sections 3.2(g), 4.12 and 4.15 hereof), it is understood and acknowledged by the Company that: (i) none of the
Purchasers has been asked by the Company to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short,
securities of the Company, or “derivative” securities based on securities issued by the Company or to hold the Securities
for any specified term, (ii) past or future open market or other transactions by any Purchaser, specifically including, without limitation,
Short Sales or “derivative” transactions, before or after the closing of this or future private placement transactions, may
negatively impact the market price of the Company’s publicly-traded securities, (iii) any Purchaser, and counter-parties in “derivative”
transactions to which any such Purchaser is a party, directly or indirectly, may have a “short” position in the Common Stock
and (iv) each Purchaser shall not be deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative”
transaction. The Company further understands and acknowledges that, except as set forth in Section 4.12 hereof, (y) one
or more Purchasers and their Affiliates may engage in hedging activities at various times at any time after the date hereof, including
during the period that the Securities are outstanding, and including, without limitation, during the periods that the value of the Underlying
Shares deliverable with respect to Securities are being determined, and (z) such hedging activities (if any) could reduce the value of
the existing stockholders’ equity interests in the Company at and after the time that the hedging activities are being conducted.
The Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents.

 

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(bb) Regulation
M Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action
designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale
or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Securities,
or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company,
other than, in the case of clauses (ii) and (iii), compensation paid to the Company’s placement agent in connection with the placement
of the Securities.

 

(cc) Office of
Foreign Assets Control. Neither the Company nor, to the Company’s knowledge, any director, officer, agent, employee or affiliate
of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”).

 

(dd) Money Laundering.
The operations of the Company are and have been conducted at all times in compliance with applicable financial record-keeping and reporting
requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable
rules and regulations thereunder (collectively, the “Money Laundering Laws”), and no Action or Proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws
is pending or, to the knowledge of the Company, threatened.

 

(ee) No Disqualification
Events. With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under the Securities Act, none of
the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating
in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated
on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company
in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a
“Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company
has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied,
to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures
provided thereunder.

 

(ff) Other Covered
Persons. Other than as set forth in the Investor Purchase Agreement, the Company is not aware of any person (other than any
Issuer Covered Person) that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection
with the sale of any Securities.

 

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(gg) Notice of
Disqualification Events. The Company will notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification
Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, reasonably be expected to become
a Disqualification Event relating to any Issuer Covered Person.

 

3.2 Representations and Warranties
of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as of the date hereof
and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of
such date):

 

(a) Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company
or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise
to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such
Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership,
limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a
party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute
the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except (i) as
limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally or by any applicable statute of limitation or by any valid defense of set-off
or counterclaim, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies
and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b) Own Account.
Such Purchaser understands that the Securities are “restricted securities” and have not been registered under the Securities
Act or any applicable state securities law and is acquiring the Securities as principal for its own account and not with a view to or
for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable state securities
law, has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable state securities
law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of
such Securities in violation of the Securities Act or any applicable state securities law (this representation and warranty not limiting
such Purchaser’s right to sell the Securities at any time pursuant to the Registration Statement or otherwise in compliance with
applicable federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business.

 

(c) Purchaser
Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on which
it converts any shares of Preferred Stock, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2),
(a)(3), (a)(7), (a)(8), (a)(9), (a)(12), or (a)(13) under the Securities Act or (ii) a “qualified institutional buyer” as
defined in Rule 144A(a) under the Securities Act. Such Purchaser is not subject to any Disqualification Event, except for a Disqualification
Event covered by Rule 506(d)(2) or (d)(3). Purchaser is not an entity formed for the specific purpose of acquiring the Securities and
is an “institutional account” as defined by FINRA Rule 4512(c).

 

(d) Experience
of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,
and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the
Securities and, at the present time, is able to afford a complete loss of such investment.

 

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(e) General Solicitation.
Such Purchaser became aware of this offering of Securities solely by means of direct contact between Purchaser and the Company and/or
Target, or their respective representatives or affiliates, and the Securities were offered to Purchaser solely by direct contact between
Purchaser and the Company and/or Target, or their respective affiliates. Purchaser did not become aware of this offering of the Securities,
nor were the Securities offered to Purchaser, by any other means. Such Purchaser is not, to such Purchaser’s knowledge, purchasing
the Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper,
magazine or similar media or broadcast over television or radio or presented at any seminar or, to the knowledge of such Purchaser, any
other general solicitation or general advertisement.

 

(f) Access to
Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits
and schedules thereto), the Management Presentation, and the SEC Reports and has been afforded (i) the opportunity to ask such questions
as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the
offering of the Securities, the transactions contemplated by the Merger Agreement, and the merits and risks of investing in the Securities;
(ii) access to information about the Company, Target and its financial condition, results of operations, business, properties, management
and prospects as such Purchaser and its advisor(s) have deemed sufficient to enable it to evaluate its investment; and (iii) the opportunity
to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. Purchaser further acknowledges that there have not been, and Purchaser
hereby agrees that it is not relying on, any representations, warranties, covenants or agreements made to Purchaser by the Company, any
of its Affiliates or any control persons, officers, directors, employees, partners, agents or representatives, any other party to the
transactions contemplated hereby or any other person or entity, expressly or by implication, other than those representations, warranties,
covenants and agreements of the Company set forth in this Agreement, the Merger Agreement and the other Transaction Documents.

 

(g) Certain Transactions
and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser has not, nor has any Person acting
on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any purchases or sales, including Short
Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received a term sheet (written
or oral) from the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated
hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed
investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio managers
have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s
assets, the representation set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that
made the investment decision to purchase the Securities covered by this Agreement. Other than to other Persons party to this Agreement
or to such Purchaser’s representatives, including, without limitation, its officers, directors, partners, legal and other advisors,
employees, agents and Affiliates, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this
transaction (including the existence and terms of this transaction). Notwithstanding the foregoing, for the avoidance of doubt, nothing
contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing shares
in order to effect Short Sales or similar transactions in the future.

 

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The Company acknowledges and agrees that the representations
contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely on the Company’s representations
and warranties contained in this Agreement or any representations and warranties contained in any other Transaction Document or any other
document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transactions contemplated
hereby. Notwithstanding the foregoing, for the avoidance of doubt, and except as set forth in Section 4.12 herein, nothing contained
in this Section 3.2 or anywhere else in this Agreement shall constitute a representation or warranty, or preclude any actions,
with respect to locating or borrowing shares in order to effect Short Sales or similar transactions in the future.

 

3.3 Representations
and Warranties of the Target. The Target hereby makes (x) each of the following representations and warranties and (y) each of
the representations and warranties of the Target set forth in the Merger Agreement (as if such representations and warranties were initially
made to each Purchaser and set forth in this Agreement in their entirety, mutatis mutandis), in each case, as of the date of this
Agreement and as of the Closing Date (or, if such representations and warranties are made with respect to a specified date, as of such
date):

 

(a) Organization
and Qualification. The Target is duly organized and validly existing and in good standing under the laws of the jurisdiction in which
it is formed, and have the requisite power and authority to own their properties and to carry on their business as now being conducted
and as presently proposed to be conducted. The Target is duly qualified as a foreign entity to do business and is in good standing in
every jurisdiction in which its ownership of property or the nature of the business conducted by it makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not reasonably be expected to have a Target Material
Adverse Effect (as defined below). The Target has no subsidiaries. As used in this Agreement, “Target Material Adverse Effect”
means any material adverse effect on (i) the business, properties, assets, liabilities, operations (including results thereof), condition
(financial or otherwise) or prospects of the Target, (ii) the transactions contemplated hereby or in any of the other Transaction Documents
or any other agreements or instruments to be entered into in connection herewith or therewith or (iii) the authority or ability of the
Target to perform any of its obligations under any of the Transaction Documents (as defined below). The Target has no subsidiaries as
of the date of this Agreement.

 

(b) Authorization;
Enforcement; Validity. The Target has the requisite power and authority to enter into and perform its obligations under the Merger
Agreement, this Agreement and the other Transaction Documents. The execution and delivery of the Merger Agreement, this Agreement and
the other Transaction Documents by the Target, and the consummation by the Target of the transactions contemplated hereby and thereby
have been duly authorized by the Target’s board of directors, and no further filing, consent or authorization is required by the
Target, its board of directors or its stockholders or other governing body. The Merger Agreement and this Agreement have been, and the
other Transaction Documents to which it is a party will be prior to the Closing, duly executed and delivered by the Target, and each constitutes
the legal, valid and binding obligations of the Target, enforceable against the Target in accordance with its respective 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) No Conflicts.
The execution, delivery and performance of the Transaction Documents by the Target and the consummation by the Target of the transactions
contemplated hereby and thereby will not (i) result in a violation of the Organizational Documents of the Target, or any capital stock
or other securities of the Target, (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 Target 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 Target
or by which any property or asset of the Target is bound or affected.

 

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(d) Consents.
The Target is not required to obtain any consent from, authorization or order of, or make any filing or registration with any Governmental
Entity or any regulatory or self-regulatory agency or any other Person in order for it to execute, deliver or perform any of its respective
obligations under or contemplated by the Transaction Documents, in each case, in accordance with the terms hereof or thereof. All consents,
authorizations, orders, filings and registrations which the Target is required to obtain pursuant to the preceding sentence have been
or will be obtained or effected on or prior to the Closing Date, and the Target is not aware of any facts or circumstances which might
prevent the Target from obtaining or effecting any of the registration, application or filings contemplated by the Transaction Documents.

 

(e) Material
Liabilities; Financial Information.

 

(i) Material Liabilities.
Except as set forth on Schedule 3.3(e)(i), the Target has no liabilities or obligations, absolute or contingent (individually
or in the aggregate) in excess of $250,000 individually, or in the aggregate. Except as disclosed on Schedule 3.3(e)(i),
the Target (i) has no outstanding debt securities, notes, credit agreements, credit facilities or other agreements, documents or instruments
evidencing Indebtedness of the Target or by which the Target is or may become bound, (ii) is not a party to any contract, agreement or
instrument, the violation of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably
be expected to result in a Target Material Adverse Effect, (iii) has no financing statements securing obligations in any amounts filed
in connection with the Target; (iv) is not in violation of any term of, or in default under, any contract, agreement or instrument relating
to any Indebtedness, except where such violations and defaults would not result, individually or in the aggregate, in a Target Material
Adverse Effect, and (v) is not a party to any contract, agreement or instrument relating to any Indebtedness, the performance of which,
in the judgment of the Target’s officers, has or is expected to have a Target Material Adverse Effect.

 

(ii) Unaudited
Financial Information. The unaudited consolidated financial statements of the Target, consisting of the consolidated balance sheet
of the Target as of March 31, 2022, and the related unaudited consolidated income statement and statement of cash flows for the three
months then ended, delivered to the Purchasers on or prior to the date hereof and attached hereto as Schedule 3.3(e)(ii)
(collectively, the “Unaudited Target Financials”), fairly present in all material respects the financial position of
the Target, at the respective dates thereof, subject to adjustments which are not expected to have a Target Material Adverse Effect.

 

(iii) Audited Financial
Information. The consolidated balance sheets of the Target as of December 31, 2020 and December 31, 2021, and the related consolidated
audited income statements, changes in stockholder or member equity and statements of cash flows for the fiscal years then ended, each
audited by a PCAOB qualified auditor in accordance with GAAP and PCAOB standards (the “Audited Target Financials”),
fairly present in all material respects the financial position of the Target at the respective dates thereof, subject to adjustments which
are not expected to have a Target Material Adverse Effect. The forecasts and projections, if any, contained in the Audited Target Financials
will have been prepared in good faith and on the basis of assumptions that are fair and reasonable in light of current and reasonably
foreseeable circumstances.

 

(iv) No Misstatements
or Omissions; No Restatements. No information provided by or on behalf of the Target to any of the Purchasers contains any untrue
statement of a material fact or omits to state any material fact necessary in order to make the statements therein not misleading, in
the light of the circumstance under which they are or were made. The Target is not currently contemplating to amend or restate any of
the Target Financial Statements, nor is the Target currently aware of facts or circumstances which would require the Target to amend or
restate any of the Target Financial Statements, in each case, in order for any of the Target Financials Statements to be in compliance
with GAAP. The Target has not been informed by its independent accountants that they recommend that the Target amend or restate any of
the Target Financial Statements or that there is any need for the Target to amend or restate any of the Target Financial Statements.

 

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(f) Absence of
Certain Changes. Since the date of the last Target Financial Statements, there has been no Target Material Adverse Effect. Specifically,
since the date of the last Target Financial Statements, the Target has not:

 

(i) declared, set
aside or paid any dividend or other distribution with respect to any shares of capital stock of the Target or any direct or indirect redemption,
purchase or other acquisition of any such shares;

 

(ii) sold, assigned,
pledged, encumbered, transferred or other disposed of any tangible asset of the Target (other than sales or the licensing of its products
to customers in the ordinary course of business consistent with past practice), or sold, assigned, pledged, encumbered, transferred or
other disposed of any Target Intellectual Property (other than licensing of products of the Target in the ordinary course of business
and on a non-exclusive basis);

 

(iii) entered into
any licensing or other agreement with regard to the acquisition or disposition of any patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar
rights necessary or required for use in connection with their respective businesses and which the failure to so have could have a Target
Material Adverse Effect (collectively, the “Target Intellectual Property”) other than licenses in the ordinary course
of business consistent with past practice or any amendment or consent with respect to any licensing agreement filed or required to be
filed with respect to any Governmental Entity;

 

(iv) made any material
capital expenditures (or commit to making any capital expenditures), other than any capital expenditure (or series of related capital
expenditures) consistent in all material respects with the Target’s annual capital expenditure budget for periods following the
date of this Agreement, made available to the Purchasers;

 

(v) incurred any
obligation or liability (whether absolute, accrued, contingent or otherwise, and whether due or to become due) in excess of $250,000 individually,
other than obligations under customer contracts, current obligations and liabilities, in each case incurred in the ordinary course of
business and consistent with past practice;

 

(vi) incurred any
Lien on any property of the Target;

 

(vii) made any payment,
discharge, satisfaction or settlement of any suit, action, claim, arbitration, proceeding or obligation of the Target, except in the ordinary
course of business and consistent with past practice;

 

(viii) completed
any split, combination or reclassification of any equity securities;

 

(ix) incurred any
material loss, destruction or damage to any property of the Target, whether or not insured;

 

(x) made any acceleration
or prepayment of any Indebtedness (as defined below) for borrowed money or the refunding of any such Indebtedness;

 

    22

     

    

 

(xi) experienced
any labor trouble involving the Target or any material change in their personnel or the terms and conditions of employment;

 

(xii) made any waiver
of any valuable right, whether by contract or otherwise;

 

(xiii) made any loan
or extension of credit to any officer or employee of the Target;

 

(xiv) experienced
any change in the independent public accountants of the Target or any material change in the accounting methods or accounting practices
followed by the Target, or any material change in depreciation or amortization policies or rates;

 

(xv) experienced
any resignation or termination of any officer, key employee or group of employees of the Target;

 

(xvi) made any change
in any compensation arrangement or agreement with any employee, officer, director or shareholder that would result in the aggregate compensation
to such Person in such year to exceed $200,000, except as permitted by the Merger Agreement;

 

(xvii) any material
increase in the compensation of employees of the Target (including any increase pursuant to any written bonus, pension, profit sharing
or other benefit or compensation plan, policy or arrangement or commitment), or any increase in any such compensation or bonus payable
to any officer, shareholder, director, consultant or agent of the Target having an annual salary or remuneration in excess of $200,000,
except as permitted by the Merger Agreement;

 

(xviii) any revaluation
of any of their respective assets, including, without limitation, writing down the value of capitalized inventory or writing off notes
or accounts receivable or any sale of assets other than in the ordinary course of business;

 

(xix) any acquisition
or disposition of any material assets (or any contract or arrangement therefor), or any other material transaction by the Target otherwise
than for fair value in the ordinary course of business;

 

(xx) cancelled any
debts or claims or any material amendment, termination or waiver of any rights of the Target; or

 

(xxi) any agreement,
whether in writing or otherwise, to take any of the actions specified in the foregoing items (i) through (xx).

 

The Target has not taken any steps to
seek protection pursuant to any law or statute relating to bankruptcy, insolvency, reorganization, receivership, liquidation or winding
up, nor does the Target have any knowledge or reason to believe that any of their respective creditors intend to initiate involuntary
bankruptcy proceedings or any actual knowledge of any fact which would reasonably lead a creditor to do so. The Target is not as of the
date hereof, and after giving effect to the transactions contemplated hereby to occur at the Closing, will not be Target Insolvent (as
defined below). For purposes of this Section 3.3(f), “Target Insolvent” means (A) the present fair saleable
value of the Target’s assets is less than the amount required to pay the Target’s total Indebtedness (as defined below), (B)
the Target is unable to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute
and matured or (C) the Target intends to incur or believes that it will incur debts that would be beyond their ability to pay as such
debts mature. The Target has not engaged in any business or in any transaction, and is not about to engage in any business or in any transaction,
for which the Target’s remaining assets constitute unreasonably small capital with which to conduct the business in which it is
engaged as such business is now conducted and is proposed to be conducted.

 

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(g) No Undisclosed
Events, Liabilities, Developments or Circumstances. No event, liability, development or circumstance has occurred or exists, or is
reasonably expected to exist or occur with respect to the Target, or any of its businesses, properties, liabilities, prospects, operations
(including results thereof) or condition (financial or otherwise), that (i) could have a material adverse effect on any Purchaser’s
investment hereunder or (ii) could have a Target Material Adverse Effect. The reserves, if any, established by the Target or the lack
of reserves, if applicable, are reasonable based upon facts and circumstances known by the Target on the date hereof and there are no
loss contingencies that are required to be accrued by the Statement of Financial Accounting Standard No. 5 of the Financial Accounting
Standards Board which are not provided for by the Target in its financial statements or otherwise.

 

(h) Foreign Corrupt
Practices. Neither the Target, the Target’s subsidiary or any director, officer, agent, employee, nor any other person acting
for or on behalf of the foregoing (individually and collectively, a “Target Affiliate”) have violated the U.S. Foreign
Corrupt Practices Act (the “FCPA”) or any other applicable anti-bribery or anti-corruption laws, nor has any Target
Affiliate offered, paid, promised to pay, or authorized the payment of any money, or offered, given, promised to give, or authorized the
giving of anything of value, to any officer, employee or any other person acting in an official capacity for any Governmental Entity to
any political party or official thereof or to any candidate for political office (individually and collectively, a “Government
Official”) or to any person under circumstances where such Company Affiliate knew or was aware of a high probability that all
or a portion of such money or thing of value would be offered, given or promised, directly or indirectly, to any Government Official,
for the purpose of

 

(i) (A) influencing
any act or decision of such Government Official in his/her official capacity, (B) inducing such Government Official to do or omit to do
any act in violation of his/her lawful duty, (C) securing any improper advantage, or (D) inducing such Government Official to influence
or affect any act or decision of any Governmental Entity, or

 

(ii) assisting the
Target in obtaining or retaining business for or with, or directing business to, the Target.

 

(i) Off-Balance
Sheet Arrangements. There is no transaction, arrangement, or other relationship to which the Target is a party that is required to
be disclosed by the Target in its Target Financial Statements and is not so disclosed or that otherwise could be reasonably likely to
have a Target Material Adverse Effect.

 

(j) Illegal or
Unauthorized Payments; Political Contributions. Neither the Target nor, to the best of the Target’s knowledge (after reasonable
inquiry of its officers and directors), any of the officers, directors, employees, agents or other representatives of the Target has,
directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not in contravention
of applicable law, (i) as a kickback or bribe to any Person or (ii) to any political organization, or the holder of or any aspirant to
any elective or appointive public office except for personal political contributions not involving the direct or indirect use of funds
of the Target.

 

(k) Money Laundering.
The Target is in compliance with, and has not previously violated, the USA Patriot Act of 2001 and all other applicable U.S. and non-U.S.
anti-money laundering laws and regulations, including, without limitation, the laws, regulations and Executive Orders and sanctions programs
administered by the U.S. Office of Foreign Assets Control, including, but not limited, to (i) Executive Order 13224 of September 23, 2001
entitled, “Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism”
(66 Fed. Reg. 49079 (2001)); and (ii) any regulations contained in 31 CFR, Subtitle B, Chapter V.

 

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(l) Management.
During the past five year period, no current or former officer or director or, to the knowledge of the Target, no current ten percent
(10%) or greater shareholder of the Target has been the subject of:

 

(i) a petition under
bankruptcy laws or any other insolvency or moratorium law or the appointment by a court of a receiver, fiscal agent or similar officer
for such Person, or any partnership in which such person was a general partner at or within two years before the filing of such petition
or such appointment, or any corporation or business association of which such person was an executive officer at or within two years before
the time of the filing of such petition or such appointment;

 

(ii) a conviction in
a criminal proceeding or a named subject of a pending criminal proceeding (excluding traffic violations that do not relate to driving
while intoxicated or driving under the influence);

 

(iii) any order, judgment
or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining
any such person from, or otherwise limiting, the following activities:

 

(A) Acting as a futures
commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the United States Commodity Futures Trading Commission or an associated person of any of the foregoing,
or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with
such activity;

 

(B) Engaging in any
particular type of business practice; or

 

(C) Engaging in any
activity in connection with the purchase or sale of any security or commodity or in connection with any violation of securities laws or
commodities laws;

 

(iv) any order, judgment
or decree, not subsequently reversed, suspended or vacated, of any authority barring, suspending or otherwise limiting for more than sixty
(60) days the right of any such person to engage in any activity described in the preceding sub paragraph, or to be associated with persons
engaged in any such activity;

 

(v) a finding by a
court of competent jurisdiction in a civil action or by the SEC or other authority to have violated any securities law, regulation or
decree and the judgment in such civil action or finding by the SEC or any other authority has not been subsequently reversed, suspended
or vacated; or

 

(vi) a finding by a
court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities
law, and the judgment in such civil action or finding has not been subsequently reversed, suspended or vacated.

 

(m) No Disagreements
with Accountants and Lawyers. There are no material disagreements of any kind presently existing, or reasonably anticipated by the
Target to arise, between the Target and the accountants and lawyers formerly or presently employed by the Target and the Target is current
with respect to any fees owed to its accountants and lawyers which could affect the Target’s ability to perform any of its obligations
under any of the Transaction Documents. In addition, on or prior to the date hereof, the Target had discussions with its accountants about
its financial statements. Based on those discussions, the Target has no reason to believe that it will need to restate any such financial
statements or any part thereof.

 

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(n) Cybersecurity.
The Target’s information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications,
and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all material respects as required
in connection with the operation of the business of the Target as currently conducted, free and clear of all material bugs, errors, defects,
Trojan horses, time bombs, malware and other corruptants that would reasonably be expected to have a Material Adverse Effect on the Target’s
business. The Target has implemented and maintained commercially reasonable physical, technical and administrative controls, policies,
procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation, redundancy
and security of all IT Systems and data, including “Personal Data,” used in connection with their businesses. “Personal
Data” means (i) a natural person’s name, street address, telephone number, e-mail address, photograph, social security
number or tax identification number, driver’s license number, passport number, credit card number, bank information, or customer
or account number; (ii) any information which would qualify as “personally identifying information” under the Federal Trade
Commission Act, as amended; (iii) “personal data” as defined by the European Union General Data Protection Regulation (“GDPR”)
(EU 2016/679); (iv) any information which would qualify as “protected health information” under the Health Insurance Portability
and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical Health Act (collectively, “HIPAA”);
and (v) any other piece of information that allows the identification of such natural person, or his or her family, or permits the collection
or analysis of any data related to an identified person’s health or sexual orientation. There have been no breaches, violations,
outages or unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability
or the duty to notify any other person or such, nor any incidents under internal review or investigations relating to the same except
in each case, where such would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.
The Target is presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court
or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security
of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation
or modification except in each case, where such would not, either individually or in the aggregate, reasonably be expected to result in
a Material Adverse Effect.

 

(o) Compliance
with Data Privacy Laws. The Target is, and since January 1, 2018 has been, in compliance with all applicable state and federal data
privacy and security laws and regulations, including without limitation HIPAA, and the Target has taken commercially reasonable actions
to prepare to comply with, and since May 25, 2018, has been and currently are in compliance with, the GDPR (EU 2016/679) (collectively,
the “Privacy Laws”) except in each case, where such would not, either individually or in the aggregate, reasonably
be expected to result in a Material Adverse Effect. To ensure compliance with the Privacy Laws, the Target has in place, comply with,
and take appropriate steps reasonably designed to ensure compliance in all material respects with their policies and procedures relating
to data privacy and security and the collection, storage, use, disclosure, handling, and analysis of Personal Data (the “Policies”).
The Target has at all times made all disclosures to users or customers required by applicable laws and regulatory rules or requirements,
and none of such disclosures made or contained in any Policy have, to the knowledge of the Target, been inaccurate or in violation of
any applicable laws and regulatory rules or requirements in any material respect. The Target further certifies that it: (i) has not received
notice of any actual or potential liability under or relating to, or actual or potential violation of, any of the Privacy Laws, and has
no knowledge of any event or condition that would reasonably be expected to result in any such notice; (ii) is currently conducting or
paying for, in whole or in part, any investigation, remediation, or other corrective action pursuant to any Privacy Law; or (iii) is a
party to any order, decree, or agreement that imposes any obligation or liability under any Privacy Law.

 

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(p) U.S. Real
Property Holding Corporation. The Target is not and has never been a U.S. real property holding corporation within the meaning of
Section 897 of the Internal Revenue Code of 1986, as amended, and the Target shall so certify upon Purchaser’s request.

 

(q) Bank Holding
Company Act. The Target is not subject to the Bank Holding Company Act of 1956, as amended (the “BHCA”) and to
regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). The Target does not own
or control, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five
percent (25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.
The Target does not exercise a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA
and to regulation by the Federal Reserve.

 

(r) Other Covered
Persons. Other than as provided in the Investor Securities Agreement, the Target is not aware of any person (other than any Issuer
Covered Person) that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with
the sale of any Securities.

 

(s) Disclosure.
No statement made by the Target in this Agreement, the Merger Agreement, the Management Presentation, any other Transaction Document or
the exhibits and schedules attached hereto or in any certificate or schedule furnished or to be furnished by or on behalf of the Target
to the Investors or any of their representatives in connection with the transactions contemplated hereby contains any untrue statement
of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading.
The due diligence materials previously provided by or on behalf of the Target to each Purchaser (if any) (the “Due Diligence
Materials”), have been prepared in a good faith effort by the Target to describe the Target’s present and proposed products,
and projected growth of the Target and do not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein not misleading, except that with respect to assumptions, projections and expressions of opinion or predictions
contained in the Due Diligence Materials, the Target represents only that such assumptions, projections, expressions of opinion and predictions
were made in good faith and that the Target believes there is a reasonable basis therefor. The Target acknowledges and agrees that no
Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby other than those specifically
set forth in Section 3.2.

 

ARTICLE IV.

 

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Transfer Restrictions.

 

(a) The Securities
may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Securities other than
pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser or in connection with a
pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide to the Company an opinion of
counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably
satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the Securities
Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and the Registration
Rights Agreement and shall have the rights and obligations of a Purchaser under this Agreement and the Registration Rights Agreement.

 

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(b) The Purchasers
agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in the following form:

 

NEITHER THIS SECURITY NOR THE SECURITIES
INTO WHICH THIS SECURITY IS CONVERTIBLE HAS 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. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED
INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

The Company acknowledges
and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered broker-dealer or grant
a security interest in some or all of the Securities to a financial institution that is an “accredited investor” as defined
in Rule 501(a) under the Securities Act and, if required under the terms of such arrangement, such Purchaser may transfer pledged or secured
Securities to the pledgees or secured parties. Such a pledge or transfer would not be subject to approval of the Company and no legal
opinion of legal counsel of the pledgee, secured party or pledgor shall be required in connection therewith. Further, no notice shall
be required of such pledge. At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation
as a pledgee or secured party of Securities may reasonably request in connection with a pledge or transfer of the Securities, including,
if the Securities are subject to registration pursuant to the Registration Rights Agreement, the preparation and filing of any required
prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities Act to appropriately
amend the list of Selling Stockholders (as defined in the Registration Rights Agreement) thereunder.

 

(c) Certificates
evidencing the Underlying Shares shall not contain any legend (including the legend set forth in Section 4.1(b) hereof): (i) while
a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities
Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under
Rule 144, without volume or manner-of-sale restrictions, (iv) if such legend is not required under applicable requirements of the Securities
Act (including judicial interpretations and pronouncements issued by the staff of the Commission), or (v) as otherwise provided in the
Certificate of Designation. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent or the Purchaser promptly
after the Effective Date if required by the Transfer Agent to effect the removal of the legend hereunder, or if requested by a Purchaser,
respectively. If all or any shares of Preferred Stock are converted at a time when there is an effective registration statement to cover
the resale of the Underlying Shares, or if such Underlying Shares may be sold under Rule 144 and the Company is then in compliance with
the current public information required under Rule 144, or if the Underlying Shares may be sold under Rule 144 without the requirement
for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without
volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the Securities Act
(including judicial interpretations and pronouncements issued by the staff of the Commission) or as provided in the Certificate of Designation,
then such Underlying Shares shall be issued free of all legends. The Company agrees that following the Effective Date or at such time
as such legend is no longer required under this Section 4.1(c), it will, no later than the earlier of (i) two (2) Trading Days
and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by a Purchaser
to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend
(such date, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing
such shares that is free from all restrictive and other legends. The Company may not make any notation on its records or give instructions
to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4. Certificates for Underlying Shares
subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s
prime broker with the Depository Trust Company System as directed by such Purchaser. As used herein, “Standard Settlement Period”
means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect
to the Common Stock as in effect on the date of delivery of a certificate representing Underlying Shares, as applicable, issued with a
restrictive legend.

 

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(d) In addition
to such Purchaser’s other available remedies, the Company shall pay to a Purchaser, in cash, (i) as partial liquidated damages and
not as a penalty, for each $1,000 of Underlying Shares (based on the VWAP of the Common Stock on the date such Securities are submitted
to the Transfer Agent) delivered for removal of the restrictive legend and subject to Section 4.1(c), $10 per Trading Day (increasing
to $20 per Trading Day five (5) Trading Days after such damages have begun to accrue) for each Trading Day after the Legend Removal Date
until such certificate is delivered without a legend and (ii) if the Company fails to (a) issue and deliver (or cause to be delivered)
to a Purchaser by the Legend Removal Date a certificate representing the Securities so delivered to the Company by such Purchaser that
is free from all restrictive and other legends and (b) if after the Legend Removal Date such Purchaser purchases (in an open market transaction
or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Purchaser of all or any portion of the number of shares
of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock that
such Purchaser anticipated receiving from the Company without any restrictive legend, then, an amount equal to the excess of such Purchaser’s
total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased
(including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”) over the product of
(x) such number of Underlying Shares that the Company was required to deliver to such Purchaser by the Legend Removal Date multiplied
by (y) the lowest closing sale price of the Common Stock on any Trading Day during the period commencing on the date of the delivery by
such Purchaser to the Company of the applicable Underlying Shares (as the case may be) and ending on the date of such delivery and payment
under this clause (ii).

 

(e) Each Purchaser,
severally and not jointly with the other Purchasers, agrees with the Company that such Purchaser will sell any Securities pursuant to
either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption
therefrom, and that if Securities are sold pursuant to a Registration Statement, they will be sold in compliance with the plan of distribution
set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing Securities as set forth
in this Section 4.1 is predicated upon the Company’s reliance upon this understanding.

 

4.2 Acknowledgment of
Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding shares of Common
Stock, which dilution may be substantial under certain market conditions. In addition, the Purchaser acknowledges that the Sponsor is
entitled, pursuant to certain anti-dilution rights granted to it, to receive additional shares of Common Stock at the closing of the Business
Combination. The Company further acknowledges that its obligations under the Transaction Documents, including, without limitation, its
obligation to issue the Underlying Shares pursuant to the Transaction Documents, are unconditional and absolute and not subject to any
right of set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the Company may have against
any Purchaser and regardless of the dilutive effect that such issuance may have on the ownership of the other stockholders of the Company.

 

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4.3 Furnishing of Information;
Public Information.

 

(a) Until the earliest
of the time that no Purchaser owns Securities, the Company covenants to maintain the registration of the Common Stock under Section 12(b)
or 12(g) of the Exchange Act and to timely file (without giving effect to any extensions pursuant to Rule 12b-25 of the Exchange Act or
any other applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act
even if the Company is not then subject to the reporting requirements of the Exchange Act.

 

(b) At any time
during the period commencing from the one (1) year anniversary of the Closing Date and ending at such time that all of the Securities
may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation
pursuant to Rule 144, if the Company shall fail for any reason to satisfy the current public information requirement under Rule 144(c)
(a “Public Information Failure”) in the event the Company has not kept a registration statement available as required
pursuant to the terms of the Registration Rights Agreement, then, in addition to such Purchaser’s other available remedies, the
Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty, by reason of any such delay in or reduction
of its ability to sell the Securities, an amount in cash equal to two percent (2.0%) of the aggregate Subscription Amount of such Purchaser’s
Securities on the day of a Public Information Failure and on every thirtieth (30th) day (pro-rated for periods totaling less
than thirty days) thereafter until the earlier of (a) the date such Public Information Failure is cured and (b) such time that such public
information is no longer required for the Purchasers to transfer the Underlying Shares pursuant to Rule 144. The payments to which a Purchaser
shall be entitled pursuant to this Section 4.3(b) are referred to herein as “Public Information Failure Payments.”
Public Information Failure Payments shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information
Failure Payments are incurred and (ii) the third (3rd) Business Day after the event or failure giving rise to the Public Information
Failure Payments is cured. In the event the Company fails to make Public Information Failure Payments in a timely manner, such Public
Information Failure Payments shall bear interest at the rate of 1.5% per month (prorated for partial months) until paid in full. Nothing
herein shall limit such Purchaser’s right to pursue actual damages for the Public Information Failure, and such Purchaser shall
have the right to pursue all remedies available to it at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief.

 

4.4 Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section
2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require the registration
under the Securities Act of the sale of the Securities or that would be integrated with the offer or sale of the Securities for purposes
of the rules and regulations of any Trading Market such that it would require stockholder approval prior to the closing of such other
transaction unless stockholder approval is obtained before the closing of such subsequent transaction.

 

4.5 Conversion Procedures.
The form of Notice of Conversion included in the Certificate of Designation set forth the totality of the procedures required of the Purchasers
in order to convert the Preferred Stock. Without limiting the preceding sentences, no ink-original Notice of Conversion shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required in order to
convert the Preferred Stock. No additional legal opinion, other information or instructions shall be required of the Purchasers to convert
their Preferred Stock. The Company shall honor conversions of the Preferred Stock and shall deliver Underlying Shares in accordance with
the terms, conditions and time periods set forth in the Transaction Documents.

 

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4.6 Securities Laws
Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the material terms of the
transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents and the Management Presentation
as exhibits thereto, with the Commission within the time required by the Exchange Act. From and after the issuance of such press release,
the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any of
the Purchasers by the Company, the Target or any of their respective officers, directors, employees or agents in connection with the transactions
contemplated by the Transaction Documents. In addition, effective upon the issuance of such press release, the Company acknowledges and
agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, the
Target or any of their respective officers, directors, agents, employees or Affiliates on the one hand, and any of the Purchasers or any
of their Affiliates on the other hand, shall terminate. The Company and each Purchaser shall consult with each other in issuing any other
press releases with respect to the transactions contemplated hereby, and neither the Company nor any Purchaser shall issue any such press
release nor otherwise make any such public statement without the prior consent of the Company, with respect to any press release of any
Purchaser, or without the prior consent of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably
be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other
party with prior notice of such public statement or communication. Notwithstanding the foregoing, neither the Company nor the Target shall
publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory
agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities law
in connection with (i) any registration statement contemplated by the Registration Rights Agreement and (ii) the filing of final Transaction
Documents with the Commission and (b) to the extent such disclosure is required by law or Trading Market regulations, in which case the
Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).

 

4.7 Stockholder Rights
Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any Purchaser
is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including any distribution
under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that any Purchaser
could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities under the Transaction Documents
or under any other agreement between the Company and the Purchasers.

 

4.8 Non-Public Information.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents and information
contained in the Management Presentation, which shall be disclosed pursuant to Section 4.6, the Company and the Target each covenant
and agree that neither it, nor any other Person acting on its behalf will provide any Purchaser or its agents or counsel with any information
that constitutes, or the Company or the Target reasonably believes constitutes, material non-public information, unless prior thereto
such Purchaser shall have consented to the receipt of such information and agreed with the Company to keep such information confidential.
Each of the Company and the Target understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
transactions in securities of the Company. To the extent that the Company, the Target or any of their respective officers, director, agents,
employees or Affiliates delivers any material, non-public information to a Purchaser without such Purchaser’s consent, each of the
Company and the Target hereby covenants and agrees that such Purchaser shall not have any duty of trust or confidentiality to the Company,
the Target or any of their respective officers, directors, agents, employees or Affiliates, or a duty to the Company, the Target or any
of their respective officers, directors, agents, employees or Affiliates not to trade while aware of, such material, non-public information,
provided that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant to any Transaction
Document constitutes, or contains, material, non-public information regarding the Company or the Target, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. Each of the Company and the Target understands and confirms
that each Purchaser shall be relying on the foregoing covenants and the covenants set forth in Section 4.6 hereof in effecting
transactions in securities of the Company.

 

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4.9 Reserved.

 

4.10 Indemnification
of Purchasers. Subject to the provisions of this Section 4.10, each of the Company and the Target will, severally, indemnify
and hold each Purchaser and its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with
a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who
controls such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors,
officers, shareholders, agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person
holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser
Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including
all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such
Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants
or agreements made by the Company or the Target in this Agreement or in the other Transaction Documents or (b) any action instituted against
the Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company or the Target
who is not an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless
such action is solely based upon a material breach of such Purchaser Party’s representations, warranties or covenants under the
Transaction Documents or any agreements or understandings such Purchaser Party may have with any such stockholder or any violations by
such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is finally judicially determined
to constitute fraud, gross negligence or willful misconduct). If any action shall be brought against any Purchaser Party in respect of
which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company and the Target in writing,
and either the Company or the Target shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable
to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the
defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent that (i)
the employment thereof has been specifically authorized by the Company or the Target in writing, (ii) the Company or the Target has failed
after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion
of counsel, a material conflict on any material issue between the position of the Company or the Target and the position of such Purchaser
Party, in which case the Company and the Target shall be responsible for the reasonable fees and expenses of no more than one such separate
counsel. Neither the Company nor the Target will be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser
Party effected without the Company’s or the Target’s prior written consent, which shall not be unreasonably withheld or delayed;
or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party’s breach
of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction
Documents. The indemnification required by this Section 4.10 shall be made by periodic payments of the amount thereof during the
course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall
be in addition to any cause of action or similar right of any Purchaser Party against the Company, the Target or others and any liabilities
the Company or the Target may be subject to pursuant to law.

 

4.11 Reservation and Listing of
Securities.

 

(a) Commencing on
the Closing Date, the Company shall maintain a reserve of the Required Minimum from its duly authorized shares of Common Stock for issuance
pursuant to the Transaction Documents in such amount as may then be required to fulfill its obligations in full under the Transaction
Documents.

 

(b) If, on any date
following the Closing Date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than 150%
of (i) the Required Minimum on such date, minus (ii) the number of shares of Common Stock previously issued pursuant to the Transaction
Documents, then the Board of Directors shall use commercially reasonable efforts to amend the Company’s certificate or articles
of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time
(minus the number of shares of Common Stock previously issued pursuant to the Transaction Documents), as soon as possible and in any event
not later than the 75th day after such date, provided that the Company will not be required at any time to authorize
a number of shares of Common Stock greater than the maximum remaining number of shares of Common Stock that could possibly be issued after
such time pursuant to the Transaction Documents.

 

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(c) The Company
shall, as applicable: (i) promptly after the Closing Date and in connection with the registration with the Commission of the Underlying
Shares, in the manner required by the principal Trading Market, prepare and file with such Trading Market an additional shares listing
application covering a number of shares of Common Stock at least equal to the Required Minimum on the date of such application, (ii) take
all steps reasonably necessary to cause such shares of Common Stock to be approved for listing or quotation on such Trading Market as
soon as practicable thereafter and to provide to the Purchasers evidence of such listing or quotation and (iii) use reasonable best efforts
to maintain the listing or quotation of such Common Stock on any date at least equal to the Required Minimum on such date on such Trading
Market or another Trading Market. The Company agrees to maintain the eligibility of the Common Stock for electronic transfer through the
Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to the
Depository Trust Company or such other established clearing corporation in connection with such electronic transfer. In addition, prior
to the Closing Date, the Company shall hold a special meeting of stockholders (which may also be at the annual meeting of stockholders)
providing for the approval of the issuance of all of the Securities in compliance with the rules and regulations of the principal Trading
Market (without regard to any limitation on conversion or exercise thereof) (the “19.9% Approval”), with the recommendation
of the Company’s Board of Directors that such proposal be approved, and the Company shall solicit proxies from its stockholders
in connection therewith in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders
shall vote their proxies in favor of such proposal.

 

4.12 Reserved.

 

4.13 Subsequent Equity
Sales.

 

(a) Except pursuant
to an Exempt Issuance, from the date hereof until twenty-four (24) months after the Effective Date, neither the Company nor any Subsidiary
shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common
Stock Equivalents at a price per share below $2.00, or (ii) file any registration statement (other than a customary universal shelf registration
statement on Form S-3) or any amendment or supplement thereto, in each case other than as contemplated pursuant to the Registration Rights
Agreement, the Registration Rights Agreement entered into pursuant to the Investor Purchase Agreement or to register for resale the shares
underlying the Company’s outstanding warrants.

 

(b) From the date
hereof until such time as no Purchaser holds any of the Preferred Shares, the Company shall be prohibited from effecting or entering into
an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination
of units thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the
Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right
to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is
based upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance
of such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date
after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly
related to the business of the Company or the market for the Common Stock or (ii) enters into, or effects a transaction under, any agreement,
including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price. For the
avoidance of doubt, a Variable Rate Transaction shall not be considered an Exempt Issuance. Any Purchaser shall be entitled to obtain
injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.

 

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(c) In the event
the Company proposes to enter into a Future Equity Issuance, the Purchasers shall receive the right to participate on a pro rata basis
in such Future Equity Issuance on the same terms as proposed by the parties to such Future Equity Issuance. The Company shall give notice
to each Purchaser, stating (i) its bona fide intention of a Future Equity Issuance, (ii) the number of such securities to be offered,
and (iii) the price and terms, if any, of the Future Equity Issuance. The Purchasers shall have ten (10) Business Days to exercise the
right to participate in the proposed Future Equity Issuance, at the price and on the terms specified in such notice, up to that portion
of such securities to be offered and issued in the Future Equity Issuance which equals the proportion that the Common Stock then held
by such Purchaser (including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable,
of the Securities then held by such Purchaser) bears to the total Common Stock of the Company then outstanding (assuming full conversion
and/or exercise, as applicable, of all Securities then then held by the Purchaser). If so exercised, the Company and the Purchasers electing
to participate in such Future Equity Issuance shall negotiate in good faith the definitive documents with respect to such Future Equity
Issuance. If the Purchasers elect not to participate in the proposed Future Equity Issuance within the period set forth above, the Company
shall be permitted to proceed with the Future Equity Issuance on the proposed terms without any additional consent from the Purchasers.

 

4.14 Equal Treatment
of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered
to all of the parties to the Transaction Documents. For clarification purposes, this provision constitutes a separate right granted to
each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as
a class and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition
or voting of Securities or otherwise.

 

4.15 Certain Transactions
and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither it, nor any Affiliate
acting on its behalf or pursuant to any understanding with it will execute any purchases or sales of any of the Company’s securities
during the period commencing with the execution of this Agreement and ending at such time that the transactions contemplated by this Agreement
are first publicly announced pursuant to the initial press release as described in Section 4.6. Each Purchaser, severally and not
jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed
by the Company pursuant to the initial press release as described in Section 4.6, such Purchaser will maintain the confidentiality
of the existence and terms of this transaction. Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement
to the contrary, the Company expressly acknowledges and agrees that, (i) no Purchaser makes any representation, warranty or covenant hereby
that it will not engage in effecting transactions in any securities of the Company after the time that the transactions contemplated by
this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.6, (ii) no Purchaser
shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities
laws from and after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial
press release as described in Section 4.6 and (iii) no Purchaser shall have any duty of trust or confidentiality or duty not to
trade in the securities of the Company to the Company after the issuance of the initial press release as described in Section 4.6.
Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers
manage separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions
made by the portfolio managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply
with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered
by this Agreement.

 

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4.16 Form D; Blue Sky
Filings. To the extent required by applicable law, the Company agrees to timely file a Form D with respect to the Securities as
required under Regulation D and to provide a copy thereof, promptly upon request of any Purchaser. The Company shall take such action
as the Company shall reasonably determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to
the Purchasers at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall
provide evidence of such actions promptly upon request of any Purchaser.

 

4.17 Capital Changes.
From the date hereof until one year after the Effective Date, the Company shall not undertake a reverse or forward stock split or reclassification
of the Common Stock without the prior written consent of the Purchasers holding a majority in interest of the shares of Preferred Stock
unless such split or reclassification is required to maintain the listing of Company Common Stock on a Trading Market.

 

4.18 Additional Covenants.
Until the Closing Date, the Target hereby covenants to each Purchaser such covenants set forth in the Merger Agreement as if such covenants
were incorporated by reference into this Agreement, mutatis mutandis. For the avoidance of doubt, this Section 4.18 shall
not relieve the Company and/or any of its Subsidiaries of any of its obligations pursuant to this Section 4 with respect to the
Company and/or any of its Subsidiaries or any of their respective securities, as applicable.

 

ARTICLE V.

 

MISCELLANEOUS

 

5.1 Termination.
This Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder
shall terminate without any further liability on the part of either party in respect thereof, upon the earlier to occur of (a) the mutual
written agreement of the parties hereto to terminate this Agreement, or (b) the termination (for any reason) of the Merger Agreement by
any party to the same. Additionally, (i) the Company may terminate this Agreement with respect to any Purchaser if any of the conditions
set forth in Section 2.3(a) applicable to such Purchaser shall have become incapable of fulfillment, and shall not have been waived
by the Company; and (ii) any Purchaser may terminate this Agreement (with respect to itself only) if (X) any of the conditions set forth
in Section 2.3(b) shall have become incapable of fulfillment, and shall not have been waived by such Purchaser or (Y) the Closing
shall not have occurred on or prior to December 31, 2022. Notwithstanding the foregoing, nothing herein will relieve any party from liability
for any intentional breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity
to recover losses, liabilities or damages arising from such breach; provided, that in the event that the Merger
Agreement is ever terminated by the Company and/or Target for any reason, each of the Purchasers hereby agrees (1) not to indirectly assert
a claim against Target by funding the Company or any other party to assert any such claim, and (2) that Target shall have third party
beneficiary rights to enforce its rights under this Section.

 

5.2 Fees and Expenses.
Except as expressly set forth in Schedule 5.2 and in the Transaction Documents to the contrary, each party shall pay the
fees and expenses of its advisers, 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 Agreement. The Company shall pay all Transfer Agent fees
(including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company and any conversion
notice delivered by a Purchaser), stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the
Purchasers.

 

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5.3 Entire Agreement.
The Transaction Documents and any agreement between the Company and a Purchaser with respect to the Services, together with the exhibits
and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede
all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged
into such documents, exhibits and schedules.

 

5.4 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via facsimile
at the facsimile number or email attachment at the e-mail address as set forth on the signature pages attached hereto at or prior to 5:30
p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such notice or communication is
delivered via facsimile or email attachment at the facsimile number or e-mail address as set forth on the signature pages attached hereto
on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading
Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party
to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages
attached hereto.

 

5.5 Amendments; Waivers.
No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of
an amendment, by the Company and the Purchaser or a group of Purchasers which purchased at least 67% in interest of the Preferred Stock
based on the initial Subscription Amounts hereunder (or, prior to the Closing, the Company and each Purchaser) or, in the case of a waiver,
by the party against whom enforcement of any such waived provision is sought, provided that if any amendment, modification
or waiver disproportionately and adversely impacts a Purchaser (or group of Purchasers), the consent of such disproportionately impacted
Purchaser (or group of Purchasers) shall also be required. No waiver of any default with respect to any provision, condition or requirement
of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other
provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner
impair the exercise of any such right. Any proposed amendment or waiver that disproportionately, materially and adversely affects the
rights and obligations of any Purchaser relative to the comparable rights and obligations of the other Purchasers shall require the prior
written consent of such adversely affected Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding
upon each Purchaser and holder of Securities and the Company. The Company shall give prompt notice of any amendment, modification or termination
hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, modification, termination, or waiver
effected in accordance with this Section 5.5.

 

5.6 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any
of the provisions hereof.

 

5.7 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may
not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger).
Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Securities,
provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction
Documents that apply to the “Purchasers.”

 

5.8 No Third-Party Beneficiaries.
Target shall be a third party beneficiary of Sections 5.1 and 5.22 hereof, and each of the parties named in Section 5.22
hereof shall also be third party beneficiaries of such Section 5.22 hereof and each such beneficiary of Sections 5.1 or
5.22 hereof shall have the independent ability to enforce such provision. For purposes of clarification, each of the parties hereto
acknowledges that Target and the parties referenced in Section 5.22 shall have the third party beneficiary rights contained herein.
This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for
the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.10 and
this Section 5.8

 

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5.9 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents (other than the Certificate
of Designation, which shall be governed by Delaware law) shall be governed by and construed and enforced in accordance with the internal
laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal Proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents
(other than the Certificate of Designation) (whether brought against a party hereto or its respective affiliates, directors, officers,
shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City
of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of
New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents, other than the Certificate
of Designation), and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such Action or Proceeding is improper or is an inconvenient venue for such Proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such Action or Proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for 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 other manner permitted
by law. If any party shall commence an Action or Proceeding to enforce any provisions of the Transaction Documents, then, in addition
to the obligations of the Company under Section 4.10, the prevailing party in such Action or Proceeding shall be reimbursed by
the non-prevailing party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation
and prosecution of such Action or Proceeding.

 

5.10 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

 

5.11 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that
the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original
thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13 Rescission and
Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of
the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and
the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may rescind or withdraw,
in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part
without prejudice to its future actions and rights; provided, however, that, in the case of a rescission of
a conversion of the Preferred Stock, the applicable Purchaser shall be required to return any shares of Common Stock subject to any such
rescinded conversion.

 

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5.14 Replacement of
Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall
issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of
and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of
such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

5.15 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers
and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may
not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby
agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would
be adequate.

 

5.16 Payment Set Aside.
To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a Purchaser enforces
or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are
subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded,
repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including, without limitation, any
bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation
or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not
been made or such enforcement or setoff had not occurred.

 

5.17 Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will
resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter
in force, in connection with any Action or Proceeding that may be brought by any Purchaser in order to enforce any right or remedy under
any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction Document, it is expressly agreed
and provided that the total liability of the Company under the Transaction Documents for payments in the nature of interest shall not
exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing,
in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums in the nature of interest
that the Company may be obligated to pay under the Transaction Documents exceed such Maximum Rate. It is agreed that if the maximum contract
rate of interest allowed by law and applicable to the Transaction Documents is increased or decreased by statute or any official governmental
action subsequent to the date hereof, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable to
the Transaction Documents from the effective date thereof forward, unless such application is precluded by applicable law. If under any
circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to any Purchaser with respect to indebtedness
evidenced by the Transaction Documents, such excess shall be applied by such Purchaser to the unpaid principal balance of any such indebtedness
or be refunded to the Company, the manner of handling such excess to be at such Purchaser’s election.

 

    38

     

    

 

5.18 Independent Nature
of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several and
not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance
of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any other Transaction Document,
and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser shall be entitled to independently
protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of the other Transaction
Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any Proceeding for such purpose.
Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. The
Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not
because it was required or requested to do so by any of the Purchasers. It is expressly understood and agreed that each provision contained
in this Agreement and in each other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and
the Purchasers collectively and not between and among the Purchasers.

 

5.19 Liquidated Damages.
The Company’s obligations to pay any liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation
of the Company and shall not terminate until all unpaid liquidated damages and other amounts have been paid notwithstanding the fact that
the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

 

5.20 Saturdays, Sundays,
Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

5.21 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference to
share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits,
stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. In
this Agreement, unless the context otherwise requires: (i) whenever required by the context, any pronoun used in this Agreement shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting the
generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words “without
limitation”; and (iii) the words “herein”, “hereto” and “hereby” and other words of similar
import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular portion of this
Agreement.

 

5.22 Trust Account Waiver.
Each Purchaser hereby acknowledges that the Company has established a trust account (the “Trust Account”) containing
the proceeds of its initial public offering (the “IPO”) and from certain private placements occurring simultaneously
with the IPO (including interest accrued from time to time thereon) for the benefit of the Company’s public stockholders and certain
other parties (including the underwriters of the IPO). For and in consideration of the Company entering into this Agreement, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Purchaser hereby (a) agrees that it
does not now and shall not at any time hereafter have any right, title, interest or claim of any kind in or to any assets held in or distributions
from the Trust Account, and shall not make any claim against the Trust Account, with respect to any claim based upon, arising out of,
resulting from, in connection with or relating to the Transaction Documents or the transactions contemplated hereby, regardless of whether
such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred
to hereafter as the “Released Claims”), (b) irrevocably waives any Released Claims that it may have against the Trust
Account or distributions therefrom now or in the future as a result of, or arising out of, any negotiations, contracts or agreements with
the Company, and (c) will not seek recourse against the Trust Account for any Released Claims. Notwithstanding the foregoing, nothing
in this Section 5.22 shall be deemed to limit any Purchaser’s right, title, interest or claim to any monies held in or distributions
from the Trust Account by virtue of its record or beneficial ownership of any shares of Common Stock acquired in the open market and outstanding
on the date hereof (whether acquired by such Purchaser prior to, on or after the date hereof), pursuant to a validly exercised redemption
right with respect to any such shares of Common Stock, and, for the avoidance of doubt, nothing contained herein shall limit any Purchaser’s
rights, if any, in respect of the Transaction Documents and the transactions contemplated thereby.

 

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5.23 NO LIABILITY UPON
GOOD FAITH TERMINATION. OTHER THAN WITH RESPECT TO ANY LIABILITIES ARISING PURSUANT TO SECTION 4.10 AND/OR SECTION 5.2 ABOVE, NONE
OF THE COMPANY, TARGET OR ANY AFFILIATE OF TARGET, OR ANY OTHER PARTY TO THE MERGER AGREEMENT, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS,
STOCKHOLDERS, MANAGERS, MEMBERS, ADVISORS OR LEGAL COUNSEL SHALL HAVE ANY LIABILITY (INCLUDING, BUT NOT LIMITED TO, AS A RESULT OF POTENTIAL
LOST PROFITS AND OPPORTUNITIES) TO ANY PURCHASER AS A RESULT OF THE TERMINATION OF THIS AGREEMENT AS A RESULT OF THE GOOD FAITH TERMINATION
OF THE MERGER AGREEMENT BECAUSE OF A FAILURE OF A CLOSING CONDITION TO BE MET (SOLELY TO THE EXTENT SUCH FAILURE IS OUTSIDE OF THE CONTROL
OF THE TARGET OR THE COMPANY, BUT REGARDLESS OF WHETHER THE MERGER AGREEMENT IS TERMINATED BY THE COMPANY OR TARGET).

 

5.24 WAIVER OF JURY
TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY
AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES
FOREVER TRIAL BY JURY.

 

(Signature Pages Follow)

 

    40

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	LARKSPUR HEALTH ACQUISITION CORP.	 	Address for Notice:
	 	              	 	100 Somerset Corporate Blvd., 2nd Floor
	By:	 	 	Bridgewater, New Jersey 08807
	Name: 	 	 	 
	Title:	 	 	Email: 
	 	 	 	 
	With a copy to (which shall not constitute notice):	 	 
	 	 	 
	
    Alston & Bird

    Attn:

    Facsimile:

    Email:
	 	 

 

Acknowledged and agreed by:

zyversa Therapeutics, Inc.

 

	By:	 	 
	Name: 	 	 
	Title: 	 	 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

     

     

    

 

[PURCHASER SIGNATURE PAGES TO LARSKPUR HEALTH ACQUISITION
CORP. SPA]

 

IN WITNESS WHEREOF, the undersigned
have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

Name of Purchaser: ____________________________________________________

 

Signature of Authorized Signatory of Purchaser: __________________________

 

Name of Authorized Signatory: ____________________________________

 

Title of Authorized Signatory: _____________________________________

 

Email Address of Authorized Signatory: ___________________________________________

 

Address for Notice to Purchaser:_________________________________________________

 

Address for Delivery of Securities to Purchaser (if not same as address
for notice):

 

Subscription Amount: $____________

 

Shares of Preferred Stock: ____________

 

Beneficial Ownership Blocker ☐ 4.99% or ☐ 9.99%

 

EIN Number: _______________________

 

[SIGNATURE PAGES CONTINUE]Exhibit 10.18

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of [●], 2022, is by and among Larkspur Health Acquisition Corp., a
Delaware corporation (the “Company”), and the undersigned Purchasers (each, a “Purchaser,” and collectively,
the “Purchasers”).

 

RECITALS

 

A. In connection with the
Securities Purchase Agreement by and among the parties hereto, dated as of [●], 2022 (the “Securities Purchase Agreement”),
the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement, to issue and sell to each Purchaser
shares of Preferred Stock (as defined in the Securities Purchase Agreement) (the “Preferred Shares”) which will be
convertible into shares of Common Stock (as defined in the Securities Purchase Agreement) (the “Conversion Shares”)
in accordance with the terms of the Certificate of Designation (as defined in the Securities Purchase Agreement).

 

B. To induce the Purchasers
to consummate the transactions contemplated by the Securities Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively,
the “1933 Act”), and applicable state securities laws.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the premises 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 each of the Purchasers hereby agree as follows:

 

1. Definitions.

 

Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement. As used in this Agreement,
the following terms shall have the following meanings:

 

(a) “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification,
commercial banks shall not be deemed to be authorized or required by law to remain closed due to “stay at home”, “shelter-in-place”,
“non-essential employee” or any other similar orders or restrictions or the closure of any physical branch locations at the
direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial
banks in The City of New York generally are open for use by customers on such day.

 

(b)
“Closing Date” shall have the meaning set forth in the Agreement and Plan of Merger dated July 20, 2022 between the
Company, Larkspur Merger Sub Inc and Zyversa Therapeutics, Inc.

 

(c)
“Effective Date” means the date that the applicable Registration Statement has been declared effective by the SEC.

 

     

     

    

 

(d) “Effectiveness
Deadline” means, with respect to the Initial Registration Statement required to be filed hereunder, the twentieth (20th)
calendar day following the date such registration statement is filed with the SEC (or, in the event of a “full review” by
the SEC, the sixtieth (60th) calendar day following the date such registration statement is filed with the SEC) and with respect
to any additional Registration Statements which may be required pursuant to Section 2(e), the thirtieth (30th) calendar
day following the date on which an additional Registration Statement is required to be filed hereunder (or, in the event of a “full
review” by the SEC, the sixtieth (60th) calendar day following the date thereof); provided, however,
that in the event the Company is notified by the SEC that one or more of the above Registration Statements will not be reviewed or is
no longer subject to further review and comments, the Effectiveness Deadline as to such Registration Statement shall be the fifth (5th)
Trading Day following the date on which the Company is so notified if such date precedes the dates otherwise required above, provided,
further, if such Effectiveness Date falls on a day that is not a Trading Day, then the Effectiveness Deadline shall be the
next succeeding Trading Day.

 

(e)
“Filing Deadline” means (i) with respect to the initial Registration Statement required to be filed pursuant to Section
2(a), the fifth (5th) calendar day after the Closing Date and (ii) with respect to any additional Registration Statements
that may be required to be filed by the Company pursuant to this Agreement, the earliest practicable date on which the Company is permitted
by applicable guidance of the SEC to file such additional Registration Statement.

 

(f)
“Investor” means a Purchaser or any transferee or assignee of any Registrable Securities, or Preferred Shares, as applicable,
to whom a Purchaser assigns its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance
with Section 9 and any transferee or assignee thereof to whom a transferee or assignee of any Registrable Securities or Preferred
Shares, as applicable, assigns its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance
with Section 9.

 

(g) “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization
or a government or any department or agency thereof.

 

(h)
“register,” “registered,” and “registration” refer to a registration effected
by preparing and filing one or more Registration Statements in compliance with the 1933 Act and pursuant to Rule 415 and the declaration
of effectiveness of such Registration Statement(s) by the SEC.

 

(i) “Registrable
Securities” means (i) the Conversion Shares and (ii) any capital stock of the Company issued or issuable with respect to the
Conversion Shares or the Preferred Shares, including, without limitation, (1) as a result of any stock split, stock dividend, recapitalization,
exchange or similar event or otherwise and (2) shares of capital stock of the Company into which the shares of Common Stock (as defined
in the Certificate of Designation) are converted or exchanged and shares of capital stock of a Successor Entity (as defined in the Certificate
of Designation) into which the shares of Common Stock are converted or exchanged, in each case, without regard to any limitations on conversion
of the Preferred Shares.

 

(j)
“Registration Statement” means a registration statement or registration statements of the Company filed under the 1933
Act covering Registrable Securities.

 

(k) “Required
Holders” shall mean, as of any given time, the holders of a majority of the Registrable Securities (on an as-converted and as-exercised
basis) as of such time.

 

(l)
“Required Registration Amount” means, as of any time of determination, 100% of the maximum number of Conversion Shares
issuable upon conversion of the Preferred Shares (assuming for purposes hereof that (x) the Preferred Shares are convertible at the Floor
Price (as defined in the Certificate of Designation) and (y) any such conversion shall not take into account any limitations on the conversion
of the Preferred Shares set forth in the Certificate of Designation)), subject to adjustment as provided in Section 2(d) and/or
Section 2(f).

 

    2

     

    

 

(m)
“Rule 144” means Rule 144 promulgated by the SEC under the 1933 Act, as such rule may be amended from time to time,
or any other similar or successor rule or regulation of the SEC that may at any time permit the Investors to sell securities of the Company
to the public without registration.

 

(n)
“Rule 415” means Rule 415 promulgated by the SEC under the 1933 Act, as such rule may be amended from time to time,
or any other similar or successor rule or regulation of the SEC providing for offering securities on a continuous or delayed basis.

 

(o)
“SEC” means the United States Securities and Exchange Commission or any successor thereto.

 

2. Registration.

 

(a) Mandatory Registration.
The Company shall prepare and, as soon as practicable, but in no event later than the Filing Deadline, file with the SEC an initial Registration
Statement on Form S-3 covering the resale of all of the Registrable Securities, provided that such initial Registration
Statement shall register for resale at least the number of shares of Common Stock equal to the Required Registration Amount as of the
date such Registration Statement is initially filed with the SEC; provided further that if Form S-3 is unavailable for such
a registration, the Company shall use such other form as is required by Section 2(c). Such initial Registration Statement, and
each other Registration Statement required to be filed pursuant to the terms of this Agreement, shall contain (except if otherwise directed
by the Required Holders) the “Selling Stockholders” and “Plan of Distribution” sections in substantially
the form attached hereto as Exhibit B. The Company shall use its best efforts to have such initial Registration Statement, and
each other Registration Statement required to be filed pursuant to the terms of this Agreement, declared effective by the SEC as soon
as practicable, but in no event later than the applicable Effectiveness Deadline for such Registration Statement.

 

(b) Legal Counsel.
Subject to Section 5 hereof, Manatt Phelps & Phillips, LLP, counsel solely to Alliance Global Partners, LLC (“Legal
Counsel”), shall review and oversee any registration, solely on behalf of Alliance Global Partners, LLC, pursuant to this Section
2.

 

(c) Ineligibility to Use
Form S-3. In the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the
Company shall (i) register the resale of the Registrable Securities on Form S-1 or another appropriate form reasonably acceptable to the
Required Holders and (ii) undertake to register the resale of the Registrable Securities on Form S-3 as soon as such form is available,
provided that the Company shall maintain the effectiveness of all Registration Statements then in effect until such time
as a Registration Statement on Form S-3 covering the resale of all the Registrable Securities has been declared effective by the SEC and
the prospectus contained therein is available for use.

 

(d) Sufficient Number of
Shares Registered. In the event the number of shares available under any Registration Statement is insufficient to cover all of the
Registrable Securities required to be covered by such Registration Statement or an Investor’s allocated portion of the Registrable
Securities pursuant to Section 2(h), the Company shall amend such Registration Statement (if permissible), or file with the SEC
a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover at least the Required Registration
Amount as of the Trading Day immediately preceding the date of the filing of such amendment or new Registration Statement, in each case,
as soon as practicable, but in any event not later than twenty (20) days after the necessity therefor arises (but taking account of any
Staff position with respect to the date on which the Staff will permit such amendment to the Registration Statement and/or such new Registration
Statement (as the case may be) to be filed with the SEC). The Company shall use its best efforts to cause such amendment to such Registration
Statement and/or such new Registration Statement (as the case may be) to become effective as soon as practicable following the filing
thereof with the SEC, but in no event later than the applicable Effectiveness Deadline for such Registration Statement. For purposes of
the foregoing provision, the number of shares available under a Registration Statement shall be deemed “insufficient to cover all
of the Registrable Securities” if at any time the number of shares of Common Stock available for resale under the applicable Registration
Statement is less than the product determined by multiplying (i) the Required Registration Amount as of such time by (ii) 0.90. The calculation
set forth in the foregoing sentence shall be made without regard to any limitations on conversion, amortization and/or redemption of the
Preferred Shares (and such calculation shall assume (A) that the Preferred Shares are then convertible in full into shares of Common Stock
at the then prevailing Conversion Rate (as defined in the Certificate of Designation), and (B) the initial outstanding principal amount
of the Preferred Shares remains outstanding through the scheduled Maturity Date (as defined in the Certificate of Designation) and no
redemptions of the Preferred Shares occur prior to the scheduled Maturity Date).

 

    3

     

    

 

(e) Effect of Failure to
File and Obtain and Maintain Effectiveness of any Registration Statement. If (i) a Registration Statement covering the resale of all
of the Registrable Securities required to be covered thereby (disregarding any reduction pursuant to Section 2(f)) and required
to be filed by the Company pursuant to this Agreement is (A) not filed with the SEC on or before the Filing Deadline for such Registration
Statement (a “Filing Failure”) (it being understood that if the Company files a Registration Statement without affording
each Investor and Legal Counsel the opportunity to review and comment on the same as required by Section 3(c) hereof, the Company
shall be deemed to not have satisfied this clause (i)(A) and such event shall be deemed to be a Filing Failure) or (B) not declared effective
by the SEC on or before the Effectiveness Deadline for such Registration Statement (an “Effectiveness Failure”) (it
being understood that if on the Business Day immediately following the Effective Date for such Registration Statement the Company shall
not have filed a “final” prospectus for such Registration Statement with the SEC under Rule 424(b) in accordance with Section
3(b) (whether or not such a prospectus is technically required by such rule), the Company shall be deemed to not have satisfied this
clause (i)(B) and such event shall be deemed to be an Effectiveness Failure), (ii) other than during an Allowable Grace Period (as defined
below), on any day after the Effective Date of a Registration Statement sales of all of the Registrable Securities required to be included
on such Registration Statement (disregarding any reduction pursuant to Section 2(f)) cannot be made pursuant to such Registration
Statement (including, without limitation, because of a failure to keep such Registration Statement effective, a failure to disclose such
information as is necessary for sales to be made pursuant to such Registration Statement, a suspension or delisting of (or a failure to
timely list) the shares of Common Stock on the Principal Market (as defined in the Securities Purchase Agreement) or any other limitations
imposed by the Principal Market, or a failure to register a sufficient number of shares of Common Stock or by reason of a stop order)
or the prospectus contained therein is not available for use for any reason (a “Maintenance Failure”), or (iii) if
a Registration Statement is not effective for any reason or the prospectus contained therein is not available for use for any reason,
and either (x) the Company fails for any reason to satisfy the requirements of Rule 144(c)(1), including, without limitation, the failure
to satisfy the current public information requirement under Rule 144(c) or (y) the Company has ever been an issuer described in Rule 144(i)(1)(i)
or becomes such an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Current
Public Information Failure”) as a result of which any of the Investors are unable to sell Registrable Securities without restriction
under Rule 144 (including, without limitation, volume restrictions), then, as partial relief for the damages to any holder by reason of
any such delay in, or reduction of, its ability to sell the underlying shares of Common Stock (which remedy shall not be exclusive of
any other remedies available at law or in equity, including, without limitation, specific performance), the Company shall pay to each
holder of Registrable Securities relating to such Registration Statement an amount in cash equal to one and one-half percent (1.5%) of
such Investor’s Subscription Amount (as defined in the Securities Purchase Agreement) (1) on the date of such Filing Failure, Effectiveness
Failure, Maintenance Failure or Current Public Information Failure, as applicable, and (2) on every thirty (30) day anniversary of (I)
a Filing Failure until such Filing Failure is cured; (II) an Effectiveness Failure until such Effectiveness Failure is cured; (III) a
Maintenance Failure until such Maintenance Failure is cured; and (IV) a Current Public Information Failure until the earlier of (i) the
date such Current Public Information Failure is cured and (ii) such time that such public information is no longer required pursuant to
Rule 144 (in each case, prorated for periods totaling less than thirty (30) days). The payments to which a holder of Registrable Securities
shall be entitled pursuant to this Section 2(e) are referred to herein as “Registration Delay Payments.” Following
the initial Registration Delay Payment for any particular event or failure (which shall be paid on the date of such event or failure,
as set forth above), without limiting the foregoing, if an event or failure giving rise to the Registration Delay Payments is cured prior
to any thirty (30) day anniversary of such event or failure, then such Registration Delay Payment shall be made on the third (3rd)
Business Day after such cure. In the event the Company fails to make Registration Delay Payments in a timely manner in accordance with
the foregoing, such Registration Delay Payments shall bear interest at the rate of two percent (2%) per month (prorated for partial months)
until paid in full. Notwithstanding the foregoing, no Registration Delay Payments shall be owed to an Investor (other than with respect
to a Maintenance Failure resulting from a suspension or delisting of (or a failure to timely list) the shares of Common Stock on the Principal
Market) with respect to any period during which all of such Investor’s Registrable Securities may be sold by such Investor without
restriction under Rule 144 (including, without limitation, volume restrictions) and without the need for current public information required
by Rule 144(c)(1) (or Rule 144(i)(2), if applicable).

 

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(f) Offering. Notwithstanding
anything to the contrary contained in this Agreement, but subject to the payment of the Registration Delay Payments pursuant to Section
2(e), in the event the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to
a Registration Statement filed pursuant to this Agreement as constituting an offering of securities by, or on behalf of, the Company,
or in any other manner, such that the Staff or the SEC do not permit such Registration Statement to become effective and used for resales
in a manner that does not constitute such an offering and that permits the continuous resale at the market by the Investors participating
therein (or as otherwise may be acceptable to each Investor) without being named therein as an “underwriter,” then the Company
shall reduce the number of shares to be included in such Registration Statement by all Investors until such time as the Staff and the
SEC shall so permit such Registration Statement to become effective as aforesaid. In making such reduction, the Company shall reduce the
number of shares to be included by all Investors on a pro rata basis (based upon the number of Registrable Securities otherwise required
to be included for each Investor) unless the inclusion of shares by a particular Investor or a particular set of Investors are resulting
in the Staff or the SEC’s “by or on behalf of the Company” offering position, in which event the shares held by such
Investor or set of Investors shall be the only shares subject to reduction (and if by a set of Investors on a pro rata basis by such Investors
or on such other basis as would result in the exclusion of the least number of shares by all such Investors); provided,
that, with respect to such pro rata portion allocated to any Investor, such Investor may elect the allocation of such pro
rata portion among the Registrable Securities of such Investor. In addition, in the event that the Staff or the SEC requires any Investor
seeking to sell securities under a Registration Statement filed pursuant to this Agreement to be specifically identified as an “underwriter”
in order to permit such Registration Statement to become effective, and such Investor does not consent to being so named as an underwriter
in such Registration Statement, then, in each such case, the Company shall reduce the total number of Registrable Securities to be registered
on behalf of such Investor, until such time as the Staff or the SEC does not require such identification or until such Investor accepts
such identification and the manner thereof. Any reduction pursuant to this paragraph will first reduce all Registrable Securities other
than those issued pursuant to the Securities Purchase Agreement. In the event of any reduction in Registrable Securities pursuant to this
paragraph, an affected Investor shall have the right to require, upon delivery of a written request to the Company signed by such Investor,
the Company to file a registration statement within twenty (20) days of such request (subject to any restrictions imposed by Rule 415
or required by the Staff or the SEC) for resale by such Investor in a manner acceptable to such Investor, and the Company shall following
such request cause to be and keep effective such registration statement in the same manner as otherwise contemplated in this Agreement
for registration statements hereunder, in each case until such time as: (i) all Registrable Securities held by such Investor have been
registered and sold pursuant to an effective Registration Statement in a manner acceptable to such Investor or (ii) all Registrable Securities
may be resold by such Investor without restriction (including, without limitation, volume limitations) pursuant to Rule 144 (taking account
of any Staff position with respect to “affiliate” status) and without the need for current public information required by
Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (iii) such Investor agrees to be named as an underwriter in any such Registration
Statement in a manner acceptable to such Investor as to all Registrable Securities held by such Investor and that have not theretofore
been included in a Registration Statement under this Agreement (it being understood that the special demand right under this sentence
may be exercised by an Investor multiple times and with respect to limited amounts of Registrable Securities in order to permit the resale
thereof by such Investor as contemplated above).

 

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(g) Piggyback Registrations.
Without limiting any obligation of the Company hereunder or under the Securities Purchase Agreement, if there is not an effective Registration
Statement covering all of the Registrable Securities or the prospectus contained therein is not available for use and the Company shall
determine to prepare and file with the SEC a registration statement or offering statement relating to an offering for its own account
or the account of others under the 1933 Act of any of its equity securities (other than on Form S-4 or Form S-8 (each as promulgated under
the 1933 Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity
or business or equity securities issuable in connection with the Company’s stock option or other employee benefit plans), then the
Company shall deliver to each Investor a written notice of such determination and, if within ten (10) days after the date of the delivery
of such notice, any such Investor shall so request in writing, the Company shall include in such registration statement or offering statement
all or any part of such Registrable Securities such Investor requests to be registered; provided, however,
the Company shall not be required to register any Registrable Securities pursuant to this Section 2(g) that are eligible for resale
pursuant to Rule 144 without restriction (including, without limitation, volume restrictions) and without the need for current public
information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or that are the subject of a then-effective Registration Statement.

 

(h) Allocation of Registrable
Securities. The initial number of Registrable Securities included in any Registration Statement and any increase in the number of
Registrable Securities included therein shall be allocated pro rata among the Investors based on the number of Registrable Securities
held by each Investor at the time such Registration Statement covering such initial number of Registrable Securities or increase thereof
is declared effective by the SEC. In the event that an Investor sells or otherwise transfers any of such Investor’s Registrable
Securities, each transferee or assignee (as the case may be) that becomes an Investor shall be allocated a pro rata portion of the then-remaining
number of Registrable Securities included in such Registration Statement for such transferor or assignee (as the case may be). Any shares
of Common Stock included in a Registration Statement and which remain allocated to any Person which ceases to hold any Registrable Securities
covered by such Registration Statement shall be allocated to the remaining Investors, pro rata based on the number of Registrable Securities
then held by such Investors which are covered by such Registration Statement.

 

(i) No Inclusion of Other
Securities. Except for securities issued by the Company pursuant to the Securities Purchase Agreement, as amended, dated as of July
20, 2022, the Company shall in no event include any securities other than Registrable Securities on any Registration Statement filed in
accordance with the terms of this Agreement without the prior written consent of the Required Holders.

 

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3. Related Obligations.

 

The Company shall use its
best efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof, and,
pursuant thereto, the Company shall have the following obligations:

 

(a) The Company shall promptly
prepare and file with the SEC a Registration Statement with respect to all the Registrable Securities (but in no event later than the
applicable Filing Deadline) and use its best efforts to cause such Registration Statement to become effective as soon as practicable after
such filing (but in no event later than the Effectiveness Deadline). Subject to Allowable Grace Periods, the Company shall keep each Registration
Statement effective (and the prospectus contained therein available for use) pursuant to Rule 415 for resales by the Investors on a delayed
or continuous basis at then-prevailing market prices (and not fixed prices) at all times until the earlier of (i) the date as of which
all of the Investors may sell all of the Registrable Securities required to be covered by such Registration Statement (disregarding any
reduction pursuant to Section 2(f)) without restriction pursuant to Rule 144 (including, without limitation, volume restrictions)
and without the need for current public information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (ii) the date on
which the Investors shall have sold all of the Registrable Securities covered by such Registration Statement (the “Registration
Period”). Notwithstanding anything to the contrary contained in this Agreement, the Company shall ensure that, when filed and
at all times while effective, each Registration Statement (including, without limitation, all amendments and supplements thereto) and
the prospectus (including, without limitation, all amendments and supplements thereto) used in connection with such Registration Statement
(1) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary
to make the statements therein (in the case of prospectuses, in the light of the circumstances in which they were made) not misleading
and (2) will disclose (whether directly or through incorporation by reference to other SEC filings to the extent permitted) all material
information regarding the Company and its securities. The Company shall submit to the SEC, within one (1) Business Day after the later
of the date that (i) the Company learns that no review of a particular Registration Statement will be made by the Staff or that the Staff
has no further comments on a particular Registration Statement (as the case may be) and (ii) the consent of Legal Counsel is obtained
pursuant to Section 3(c) (which consent shall be immediately sought), a request for acceleration of effectiveness of such Registration
Statement to a time and date not later than forty-eight (48) hours after the submission of such request. The Company shall respond in
writing to comments made by the SEC in respect of a Registration Statement as soon as practicable, but in no event later than fifteen
(15) Business Days after the receipt of comments by or notice from the SEC that an amendment is required in order for a Registration Statement
to be declared effective.

 

(b) Subject to Section
3(r) of this Agreement, the Company shall prepare and file with the SEC such amendments (including, without limitation, post-effective
amendments) and supplements to each Registration Statement and the prospectus used in connection with each such Registration Statement,
which prospectus is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may be necessary to keep each such Registration
Statement effective at all times during the Registration Period for such Registration Statement, and, during such period, comply with
the provisions of the 1933 Act with respect to the disposition of all Registrable Securities of the Company required to be covered by
such Registration Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended
methods of disposition by the seller or sellers thereof as set forth in such Registration Statement; provided, however,
by 8:30 a.m. (New York time) on the Business Day immediately following each Effective Date, the Company shall file with the SEC in accordance
with Rule 424(b) under the 1933 Act the final prospectus to be used in connection with sales pursuant to the applicable Registration Statement
(whether or not such a prospectus is technically required by such rule). In the case of amendments and supplements to any Registration
Statement which are required to be filed pursuant to this Agreement (including, without limitation, pursuant to this Section 3(b))
by reason of the Company filing a report on Form 8-K, Form 10-Q or Form 10-K or any analogous report under the Securities Exchange Act
of 1934, as amended (the “1934 Act”), the Company shall, if permitted under the applicable rules and regulations of
the SEC, have incorporated such report by reference into such Registration Statement, if applicable, or shall file such amendments or
supplements with the SEC on the same day on which the 1934 Act report is filed which created the requirement for the Company to amend
or supplement such Registration Statement.

 

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(c) The Company shall (A)
permit Legal Counsel and legal counsel for each other Investor to review and comment upon (i) each Registration Statement at least five
(5) Business Days prior to its filing with the SEC and (ii) all amendments and supplements to each Registration Statement (including,
without limitation, the prospectus contained therein) (except for Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, and any similar or successor reports) within a reasonable number of days prior to their filing with the SEC, and
(B) not file any Registration Statement or amendment or supplement thereto in a form to which Legal Counsel or any legal counsel for any
other Investor reasonably objects. The Company shall not submit a request for acceleration of the effectiveness of a Registration Statement
or any amendment or supplement thereto or to any prospectus contained therein without the prior consent of Legal Counsel, which consent
shall not be unreasonably withheld. The Company shall promptly furnish to Legal Counsel and legal counsel for each other Investor, without
charge, (i) copies of any correspondence from the SEC or the Staff to the Company or its representatives relating to each Registration
Statement, provided that such correspondence shall not contain any material, non-public information regarding the Company
or any of its Subsidiaries (as defined in the Securities Purchase Agreement), (ii) after the same is prepared and filed with the SEC,
one (1) copy of each Registration Statement and any amendment(s) and supplement(s) thereto, including, without limitation, financial statements
and schedules, all documents incorporated therein by reference, if requested by an Investor, and all exhibits and (iii) upon the effectiveness
of each Registration Statement, one (1) copy of the prospectus included in such Registration Statement and all amendments and supplements
thereto. The Company shall reasonably cooperate with Legal Counsel and legal counsel for each other Investor in performing the Company’s
obligations pursuant to this Section 3.

 

(d) The Company shall promptly
furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge, (i) after the same is
prepared and filed with the SEC, each Registration Statement and any amendment(s) and supplement(s) thereto, including, without limitation,
financial statements and schedules, all documents incorporated therein by reference, if requested by an Investor, all exhibits and each
preliminary prospectus, (ii) upon the effectiveness of each Registration Statement, the prospectus included in such Registration Statement
and all amendments and supplements thereto (or such other number of copies as such Investor may reasonably request from time to time)
and (iii) such other documents, including, without limitation, copies of any preliminary or final prospectus, as such Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor, it being agreed
that providing links to such documents as filed with the SEC shall be deemed “furnished” for purposes of this Agreement

 

(e) The Company shall use
its best efforts to (i) register and qualify, unless an exemption from registration and qualification applies, the resale by Investors
of the Registrable Securities covered by a Registration Statement under such other securities or “blue sky” laws of all applicable
jurisdictions in the United States, (ii) prepare and file in those jurisdictions, such amendments (including, without limitation, post-effective
amendments) and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during
the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect
at all times during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable
Securities for sale in such jurisdictions; provided, however, the Company shall not be required in connection
therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify
but for this Section 3(e), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service
of process in any such jurisdiction. The Company shall promptly notify Legal Counsel, legal counsel for each other Investor and each Investor
who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the registration
or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any jurisdiction
in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

 

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(f) The Company shall notify
Legal Counsel, legal counsel for each other Investor and each Investor in writing of the happening of any event, as promptly as practicable
after becoming aware of such event, as a result of which the prospectus included in a Registration Statement, as then in effect, may include
an untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading (provided that in no event shall such
notice contain any material, non-public information regarding the Company or any of its Subsidiaries), and, subject to Section 3(r),
promptly prepare a supplement or amendment to such Registration Statement and such prospectus contained therein to correct such untrue
statement or omission and such supplement or amendment to Legal Counsel, legal counsel for each other Investor and each Investor (or such
other number of copies as Legal Counsel, legal counsel for each other Investor or such Investor may reasonably request). The Company shall
also promptly notify Legal Counsel, legal counsel for each other Investor and each Investor in writing (i) when a prospectus or any prospectus
supplement or post-effective amendment has been filed, when a Registration Statement or any post-effective amendment has become effective
(notification of such effectiveness shall be delivered to Legal Counsel, legal counsel for each other Investor and each Investor by e-mail
on the same day of such effectiveness and by overnight mail), and when the Company receives written notice from the SEC that a Registration
Statement or any post-effective amendment will be reviewed by the SEC, (ii) of any request by the SEC for amendments or supplements to
a Registration Statement or related prospectus or related information, (iii) of the Company’s reasonable determination that a post-effective
amendment to a Registration Statement would be appropriate; and (iv) of the receipt of any request by the SEC or any other federal or
state governmental authority for any additional information relating to the Registration Statement or any amendment or supplement thereto
or any related prospectus. The Company shall respond as promptly as practicable to any comments received from the SEC with respect to
each Registration Statement or any amendment thereto (it being understood and agreed that the Company’s response to any such comments
shall be delivered to the SEC no later than fifteen (15) Business Days after the receipt thereof).

 

(g) The Company shall (i)
use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of each Registration Statement or
the use of any prospectus contained therein, or the suspension of the qualification, or the loss of an exemption from qualification, of
any of the Registrable Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal
of such order or suspension at the earliest possible moment and (ii) notify Legal Counsel, legal counsel for each other Investor and each
Investor who holds Registrable Securities of the issuance of such order and the resolution thereof or its receipt of actual notice of
the initiation or threat of any proceeding for such purpose.

 

(h) If any Investor may be
required under applicable securities law to be described in any Registration Statement as an underwriter and such Investor consents to
so being named an underwriter, at the request of any Investor, the Company shall furnish to such Investor, on the date of the effectiveness
of such Registration Statement and thereafter from time to time on such dates as an Investor may reasonably request (i) a letter, dated
such date, from the Company’s independent certified public accountants in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public offering, addressed to the Investors, and (ii) an opinion, dated
as of such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance as is customarily
given in an underwritten public offering, addressed to the Investors.

 

    9

     

    

 

(i) If any Investor may be
required under applicable securities law to be described in any Registration Statement as an underwriter and such Investor consents to
so being named an underwriter, upon the written request of such Investor, the Company shall make available for inspection by (i) such
Investor, (ii) legal counsel for such Investor and (iii) one (1) firm of accountants or other agents retained by such Investor (collectively,
the “Inspectors”), all pertinent financial and other records, and pertinent corporate documents and properties of the
Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector, and cause the Company’s
officers, directors and employees to supply all information which any Inspector may reasonably request; provided, however,
each Inspector shall agree in writing to hold in strict confidence and not to make any disclosure (except to such Investor) or use of
any Record or other information which the Company’s board of directors determines in good faith to be confidential, and of which
determination the Inspectors are so notified, unless (1) the disclosure of such Records is necessary to avoid or correct a misstatement
or omission in any Registration Statement (as reasonably jointly determined by the Company and such Investor) or is otherwise required
under the 1933 Act, (2) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government
body of competent jurisdiction, or (3) the information in such Records has been made generally available to the public other than by disclosure
in violation of this Agreement or any other Transaction Document (as defined in the Securities Purchase Agreement). Such Investor agrees
that it shall, upon learning that disclosure of such Records is sought in or by a court or governmental body of competent jurisdiction
or through other means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent
disclosure of, or to obtain a protective order for, the Records deemed confidential. Nothing herein (or in any other confidentiality agreement
between the Company and such Investor, if any) shall be deemed to limit any Investor’s ability to sell Registrable Securities in
a manner which is otherwise consistent with applicable laws and regulations.

 

(j) The Company shall hold
in confidence and not make any disclosure of information concerning an Investor provided to the Company unless (i) disclosure of
such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to
avoid or correct a misstatement or omission in any Registration Statement or is otherwise required to be disclosed in such Registration
Statement pursuant to the 1933 Act, (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable
order from a court or governmental body of competent jurisdiction, or (iv) such information has been made generally available to the public
other than by disclosure in violation of this Agreement or any other Transaction Document. The Company agrees that it shall, upon learning
that disclosure of such information concerning an Investor is sought in or by a court or governmental body of competent jurisdiction or
through other means, give prompt written notice to such Investor and allow such Investor, at such Investor’s expense, to undertake
appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

 

(k) Without limiting any obligation
of the Company under the Securities Purchase Agreement, the Company shall use its best efforts either to (i) cause all of the Registrable
Securities covered by each Registration Statement to be listed on each securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such
exchange, (ii) secure designation and quotation of all of the Registrable Securities covered by each Registration Statement on a Trading
Market (as defined in the Securities Purchase Agreement), or (iii) if, despite the Company’s best efforts to satisfy the preceding
clauses (i) or (ii) the Company is unsuccessful in satisfying the preceding clauses (i) or (ii), without limiting the generality of the
foregoing, to use its best efforts to arrange for at least two market makers to register with the Financial Industry Regulatory Authority
(“FINRA”) as such with respect to such Registrable Securities. In addition, the Company shall cooperate with each Investor
and any broker or dealer through which any such Investor proposes to sell its Registrable Securities in effecting a filing with FINRA
pursuant to FINRA Rule 5110 as requested by such Investor. The Company shall pay all fees and expenses in connection with satisfying its
obligations under this Section 3(k).

 

(l) The Company shall cooperate
with the Investors who hold Registrable Securities being offered and, to the extent applicable, facilitate the timely creation of accounts
in the name of each investor in the Direct Registration System of the Company’s transfer agent representing the Registrable Securities
to be offered pursuant to a Registration Statement as the Investors may reasonably request from time to time and registered in such names
as the Investors may request; provided, however, that the Company shall be permitted to establish reasonable
procedures to ensure compliance by each such Investor with the applicable provisions of the 1933 Act and, with respect to any Investors
who are deemed “affiliates” of the Company (as defined in the 1933 Act), with the Company’s insider trading policy as
then in effect.

 

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(m) If requested by an Investor,
the Company shall as soon as practicable after receipt of notice from such Investor and subject to Section 3(r) hereof, (i) incorporate
in a prospectus supplement or post-effective amendment such information as an Investor reasonably requests to be included therein relating
to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the number of Registrable
Securities being offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities
to be sold in such offering; (ii) make all required filings of such prospectus supplement or post-effective amendment after being notified
of the matters to be incorporated in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to
any Registration Statement or prospectus contained therein if reasonably requested by an Investor holding any Registrable Securities;
provided, however, that with respect to any Investors who are deemed “affiliates” of the Company
(as defined in the 1933 Act), any such filings shall only be required to be made during open trading windows as provided in the Company’s
insider trading policy as then in effect.

 

(n) The Company shall use
its reasonable best efforts to cause the Registrable Securities covered by a Registration Statement to be registered with or approved
by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities.

 

(o) If not available on the
SEC’s EDGAR system, the Company shall make generally available to its security holders as soon as practical, but not later than
ninety (90) days after the close of the period covered thereby, an earnings statement (in form complying with, and in the manner provided
by, the provisions of Rule 158 under the 1933 Act).

 

(p) The Company shall otherwise
use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any registration hereunder.

 

(q) Within one (1) Business
Day after a Registration Statement which covers Registrable Securities is declared effective by the SEC, the Company shall deliver, and
shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to the Investors
whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared
effective by the SEC in the form attached hereto as Exhibit A.

 

(r) Notwithstanding anything
to the contrary herein (but subject to the last sentence of this Section 3(r)), at any time after the Effective Date of a particular
Registration Statement, the Company may delay the disclosure of material, non-public information concerning the Company or any of its
Subsidiaries the disclosure of which at the time is not, in the good faith opinion of the board of directors of the Company, in the best
interest of the Company and, in the opinion of counsel to the Company, otherwise required (a “Grace Period”), provided
that the Company shall promptly notify the Investors in writing of the (i) existence of material, non-public information giving
rise to a Grace Period (provided that in each such notice the Company shall not disclose the content of such material, non-public
information to any of the Investors) and the date on which such Grace Period will begin and (ii) date on which such Grace Period ends,
provided further that (I) no Grace Period shall exceed fifteen (15) consecutive days and during any three hundred sixty
five (365) day period all such Grace Periods shall not exceed an aggregate of forty-five (45) days, (II) the first day of any Grace Period
must be at least five (5) Trading Days after the last day of any prior Grace Period and (III) no Grace Period may exist during the sixty
(60) Trading Day period immediately following the Effective Date of such Registration Statement (provided that such sixty
(60) Trading Day period shall be extended by the number of Trading Days during such period and any extension thereof contemplated by this
proviso during which such Registration Statement is not effective or the prospectus contained therein is not available for use) (each,
an “Allowable Grace Period”). For purposes of determining the length of a Grace Period above, such Grace Period shall
begin on and include the date the Investors receive the notice referred to in clause (i) above and shall end on and include the later
of the date the Investors receive the notice referred to in clause (ii) above and the date referred to in such notice. The provisions
of Section 3(g) hereof shall not be applicable during the period of any Allowable Grace Period. Upon expiration of each Grace Period,
the Company shall again be bound by the first sentence of Section 3(f) with respect to the information giving rise thereto unless
such material, non-public information is no longer applicable. Notwithstanding anything to the contrary contained in this Section 3(r),
the Company shall cause its transfer agent to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with
the terms of the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which such Investor
has entered into a contract for sale, and delivered a copy of the prospectus included as part of the particular Registration Statement
to the extent applicable, prior to such Investor’s receipt of the notice of a Grace Period and for which the Investor has not yet
settled.

 

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(s) The Company shall take
all other reasonable actions necessary to expedite and facilitate disposition by each Investors of its Registrable Securities pursuant
to each Registration Statement.

 

(t) Neither the Company nor
any Subsidiary or affiliate thereof shall identify any Investor as an underwriter in any public disclosure or filing with the SEC or the
Trading Market and any Purchaser being deemed an underwriter by the SEC shall not relieve the Company of any obligations it has under
this Agreement or any other Transaction Document (as defined in the Securities Purchase Agreement); provided, however,
that the foregoing shall not prohibit the Company from including the disclosure found in the “Plan of Distribution”
section attached hereto as Exhibit B in the Registration Statement.

 

(u) Neither the Company nor
any of its Subsidiaries has entered, as of the date hereof, nor shall the Company or any of its Subsidiaries, on or after the date of
this Agreement, enter into any agreement with respect to its securities, that would have the effect of impairing the rights granted to
the Purchasers in this Agreement or otherwise conflicts with the provisions hereof.

 

4. Obligations of the Investors.

 

(a) At least five (5) Business
Days prior to the first anticipated filing date of each Registration Statement, the Company shall notify each Investor in writing of the
information the Company requires from each such Investor with respect to such Registration Statement. It shall be a condition precedent
to the obligations of the Company to complete the registration pursuant to this Agreement with respect to the Registrable Securities of
a particular Investor that such Investor shall furnish to the Company such information regarding itself, the Registrable Securities held
by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably required to effect and maintain
the effectiveness of the registration of such Registrable Securities and shall execute such documents in connection with such registration
as the Company may reasonably request.

 

(b) Each Investor, by such
Investor’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company
in connection with the preparation and filing of each Registration Statement hereunder, unless such Investor has notified the Company
in writing of such Investor’s election to exclude all of such Investor’s Registrable Securities from such Registration Statement.

 

(c) Each Investor agrees that,
upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(g) or the first sentence
of Section 3(f), such Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration
Statement(s) covering such Registrable Securities until such Investor’s receipt of the copies of the supplemented or amended prospectus
contemplated by Section 3(g) or the first sentence of Section 3(f) or receipt of notice that no supplement or amendment
is required. Notwithstanding anything to the contrary in this Section 4(c), the Company shall cause its transfer agent to deliver
unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase Agreement in
connection with any sale of Registrable Securities with respect to which such Investor has entered into a contract for sale prior to the
Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section 3(g) or the
first sentence of Section 3(f) and for which such Investor has not yet settled.

 

    12

     

    

 

5. Expenses of Registration.

 

All reasonable expenses, other
than underwriting discounts and commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections
2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, FINRA
filing fees (if any) and fees and disbursements of counsel for the Company shall be paid by the Company. The Company shall reimburse Legal
Counsel for its fees and disbursements in connection with registration, filing or qualification pursuant to Sections 2 and 3
of this Agreement, which amount shall be limited to $10,000 for each such registration, filing or qualification.

 

6. Indemnification.

 

(a) To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend each Investor and each of its directors, officers,
shareholders, members, partners, employees, agents, advisors, representatives (and any other Persons with a functionally equivalent role
of a Person holding such titles notwithstanding the lack of such title or any other title) and each Person, if any, who controls such
Investor within the meaning of the 1933 Act or the 1934 Act and each of the directors, officers, shareholders, members, partners, employees,
agents, advisors, representatives (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
the lack of such title or any other title) of such controlling Persons (each, an “Indemnified Person”), against any
losses, obligations, claims, damages, liabilities, contingencies, judgments, fines, penalties, charges, costs (including, without limitation,
court costs, reasonable attorneys’ fees and costs of defense and investigation), amounts paid in settlement or expenses, joint or
several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry,
proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory
agency, body or the SEC, whether pending or threatened, whether or not an Indemnified Person is or may be a party thereto (“Indemnified
Damages”), to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened,
in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration
Statement or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the
securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus if used
prior to the effective date of such Registration Statement, or contained in the final prospectus (as amended or supplemented, if the Company
files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact
necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading
or (iii) any violation or alleged violation by the Company of the 1933 Act, the 1934 Act, any other law, including, without limitation,
any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant to
a Registration Statement or (iv) any violation of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively,
“Violations”). Subject to Section 6(c), the Company shall reimburse the Indemnified Persons, promptly as such
expenses are incurred and are due and payable, for any legal fees or other reasonable expenses incurred by them in connection with investigating
or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this
Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in
reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person for such Indemnified Person
expressly for use in connection with the preparation of such Registration Statement or any such amendment thereof or supplement thereto,
if such prospectus was timely made available by the Company pursuant to Section 3(d); and (ii) shall not apply to amounts paid
in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be
unreasonably withheld or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
of the Indemnified Person and shall survive the transfer of any of the Registrable Securities by any of the Investors pursuant to Section
9.

 

    13

     

    

 

(b) In connection with any
Registration Statement in which an Investor is participating, such Investor agrees to severally and not jointly indemnify, hold harmless
and defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each
of its officers who signs the Registration Statement and each Person, if any, who controls the Company within the meaning of the 1933
Act or the 1934 Act (each, an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may
become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based
upon any Violation, in each case, to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity
with written information furnished to the Company by such Investor expressly for use in connection with such Registration Statement; and,
subject to Section 6(c) and the below provisos in this Section 6(b), such Investor will reimburse an Indemnified Party any
legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such Claim; provided,
however, the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained
in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of such Investor, which consent shall not be unreasonably withheld or delayed, provided further that such Investor
shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds
to such Investor as a result of the applicable sale of Registrable Securities pursuant to such Registration Statement. Such indemnity
shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party and shall survive
the transfer of any of the Registrable Securities by any of the Investors pursuant to Section 9.

 

(c) Promptly after receipt
by an Indemnified Person or Indemnified Party (as the case may be) under this Section 6 of notice of the commencement of any action
or proceeding (including, without limitation, any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified
Party (as the case may be) shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6,
deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate
in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control
of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party
(as the case may be); provided, however, an Indemnified Person or Indemnified Party (as the case may be) shall
have the right to retain its own counsel with the fees and expenses of such counsel to be paid by the indemnifying party if: (i) the indemnifying
party has agreed in writing to pay such fees and expenses; (ii) the indemnifying party shall have failed promptly to assume the defense
of such Claim and to employ counsel reasonably satisfactory to such Indemnified Person or Indemnified Party (as the case may be) in any
such Claim; or (iii) the named parties to any such Claim (including, without limitation, any impleaded parties) include both such Indemnified
Person or Indemnified Party (as the case may be) and the indemnifying party, and such Indemnified Person or such Indemnified Party (as
the case may be) shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent
such Indemnified Person or such Indemnified Party and the indemnifying party (in which case, if such Indemnified Person or such Indemnified
Party (as the case may be) notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the
indemnifying party, then the indemnifying party shall not have the right to assume the defense thereof and such counsel shall be at the
expense of the indemnifying party, provided further that in the case of clause (iii) above the indemnifying party
shall not be responsible for the reasonable fees and expenses of more than one (1) separate legal counsel for such Indemnified Person
or Indemnified Party (as the case may be). The Indemnified Party or Indemnified Person (as the case may be) shall reasonably cooperate
with the indemnifying party in connection with any negotiation or defense of any such action or Claim by the indemnifying party and shall
furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified Person (as the case may
be) which relates to such action or Claim. The indemnifying party shall keep the Indemnified Party or Indemnified Person (as the case
may be) reasonably apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying
party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent; provided,
however, the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall,
without the prior written consent of the Indemnified Party or Indemnified Person (as the case may be), consent to entry of any judgment
or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party or Indemnified Person (as the case may be) of a release from all liability in respect to such Claim
or litigation, and such settlement shall not include any admission as to fault on the part of the Indemnified Party. Following indemnification
as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person (as
the case may be) with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made.
The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall
not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party (as the case may be) under this Section
6, except to the extent that the indemnifying party is materially and adversely prejudiced in its ability to defend such action.

 

(d) The indemnification required
by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as
and when bills are received or Indemnified Damages are incurred.

 

(e) The indemnity and contribution
agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person
against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

 

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7. Contribution.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided,
however: (i) no contribution shall be made under circumstances where the maker would not have been liable for indemnification
under the fault standards set forth in Section 6 of this Agreement, (ii) no Person involved in the sale of Registrable Securities
which Person is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in connection with such sale
shall be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (iii) contribution by any seller of Registrable Securities shall be limited in amount to the amount of net proceeds received by such
seller from the applicable sale of such Registrable Securities pursuant to such Registration Statement. Notwithstanding the provisions
of this Section 7, no Investor shall be required to contribute, in the aggregate, any amount in excess of the amount by which the
net proceeds actually received by such Investor from the applicable sale of the Registrable Securities subject to the Claim exceeds the
amount of any damages that such Investor has otherwise been required to pay, or would otherwise be required to pay under Section 6(b),
by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

8. Reports Under the 1934 Act.

 

With a view to making available
to the Investors the benefits of Rule 144, the Company agrees to:

 

(a) use its reasonable best
efforts to make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b) use its reasonable best
efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934
Act so long as the Company remains subject to such requirements (it being understood and agreed that nothing herein shall limit any obligations
of the Company under the Securities Purchase Agreement) and the filing of such reports and other documents is required for the applicable
provisions of Rule 144; and

 

(c) furnish to each Investor
so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company, if true, that it
has complied with the reporting, submission and posting requirements of Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most
recent annual or quarterly report of the Company and such other reports and documents so filed by the Company with the SEC if such reports
are not publicly available via EDGAR, and (iii) such other information as may be reasonably requested to permit the Investors to sell
such securities pursuant to Rule 144 without registration.

 

9. Assignment of Registration Rights.

 

All or any portion of the
rights under this Agreement shall be automatically assignable by each Investor to any transferee or assignee (as the case may be) of all
or any portion of such Investor’s Registrable Securities or Preferred Shares if: (i) such Investor agrees in writing with such transferee
or assignee (as the case may be) to assign all or any portion of such rights, and a copy of such agreement is furnished to the Company
within a reasonable time after such transfer or assignment (as the case may be); (ii) the Company is, within a reasonable time after such
transfer or assignment (as the case may be), furnished with written notice of (a) the name and address of such transferee or assignee
(as the case may be), and (b) the securities with respect to which such registration rights are being transferred or assigned (as the
case may be); (iii) immediately following such transfer or assignment (as the case may be) the further disposition of such securities
by such transferee or assignee (as the case may be) is restricted under the 1933 Act or applicable state securities laws if so required;
(iv) at or before the time the Company receives the written notice contemplated by clause (ii) of this sentence such transferee or assignee
(as the case may be) agrees in writing with the Company to be bound by all of the provisions contained herein; (v) such transfer or assignment
(as the case may be) shall have been made in accordance with the applicable requirements of the Securities Purchase Agreement and the
Preferred Shares; and (vi) such transfer or assignment (as the case may be) shall have been conducted in accordance with all applicable
federal and state securities laws.

 

10. Amendment of Registration Rights.

 

Provisions of this Agreement may be amended and
the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with
the written consent of the Company and the Required Holders; provided that any such amendment or waiver that complies with
the foregoing, but that disproportionately, materially and adversely affects the rights and obligations of any Investor relative to the
comparable rights and obligations of the other Investors shall require the prior written consent of such adversely affected Investor.
Any amendment or waiver effected in accordance with this Section 10 shall be binding upon each Investor and the Company, provided
that no such amendment shall be effective to the extent that it (1) applies to less than all of the holders of Registrable Securities
or (2) imposes any obligation or liability on any Investor without such Investor’s prior written consent (which may be granted or
withheld in such Investor’s sole discretion). No waiver shall be effective unless it is in writing and signed by an authorized representative
of the waiving party. No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision
of this Agreement unless the same consideration (other than the reimbursement of legal fees) also is offered to all of the parties to
this Agreement.

 

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11. Miscellaneous.

 

(a) Solely for purposes of
this Agreement, a Person is deemed to be a holder of Registrable Securities whenever such Person owns, or is deemed to own, of record
such Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect
to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from such record
owner of such Registrable Securities.

 

(b) 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 delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by electronic mail (provided that
such sent email is kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically
generated message from the recipient’s email server that such e-mail could not be delivered to such recipient); 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. The mailing addresses and e-mail addresses for such communications shall be:

 

If to the Company:

 

Larkspur Health Acquisition Corp.

100 Somerset Corporate Blvd., 2nd Floor

Bridgewater, New Jersey 08807

Telephone: (609) 310-0722

Attention: Chief Executive Officer

Email:

 

With a copy (for informational purposes only) to:

 

Alston & Bird LLP

[-]

Telephone:

Facsimile:

Attention:

Email:

 

If to the Transfer Agent:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Telephone: (212) 509-4000

Attention: Account Administration

Email: cstmail@continentalstock.com

 

If to Legal Counsel:

 

[NAME]

[ADDRESS]

Telephone:

Facsimile:

Attention:

E-mail:

 

If to a Purchaser, to its mailing address and/or
email address set forth on the Schedule of Purchasers attached to the Securities Purchase Agreement, with copies to such Purchaser’s
representatives as set forth on the Schedule of Purchasers, or to such other mailing address and/or email address 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 e-mail containing the time, date and recipient’s e-mail or (C) provided
by a courier or overnight courier service shall be rebuttable evidence of personal service, receipt by e-mail or receipt from a nationally
recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

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(c) Failure of any party to
exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate
as a waiver thereof. The Company and each Investor acknowledge and agree that irreparable damage would occur in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that each party hereto shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this
Agreement by any other party hereto and to enforce specifically the terms and provisions hereof (without the necessity of showing economic
loss and without any bond or other security being required), this being in addition to any other remedy to which any party may be entitled
by law or equity.

 

(d) All questions concerning
the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New
York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, 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. 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 HEREWITH OR ARISING OUT OF THIS AGREEMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(e) 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).

 

(f) This Agreement, the other
Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced herein and therein constitute
the entire agreement among the parties hereto and thereto solely with respect to the subject matter hereof and thereof. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to herein and therein. This Agreement, the other Transaction
Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced herein and therein supersede all prior
agreements and understandings among the parties hereto solely with respect to the subject matter hereof and thereof; provided,
however, nothing contained in this Agreement or any other Transaction Document shall (or shall be deemed to) (i) have any
effect on any agreements any Investor has entered into with the Company or any of its Subsidiaries prior to the date hereof with respect
to any prior investment made by such Investor in the Company, (ii) waive, alter, modify or amend in any respect any obligations of the
Company or any of its Subsidiaries or any rights of or benefits to any Investor or any other Person in any agreement entered into prior
to the date hereof between or among the Company and/or any of its Subsidiaries and any Investor and all such agreements shall continue
in full force and effect or (iii) limit any obligations of the Company under any of the other Transaction Documents.

 

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(g) Subject to compliance
with Section 9 (if applicable), this Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns
of each of the parties hereto. This Agreement is not for the benefit of, nor may any provision hereof be enforced by, any Person, other
than the parties hereto, their respective permitted successors and assigns and the Persons referred to in Sections 6 and 7
hereof.

 

(h) The headings in this Agreement
are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 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.

 

(i) This Agreement may be
executed in two or more identical counterparts, each of which shall be deemed an original, but 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 email 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.

 

(j) 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) 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. Notwithstanding anything to the contrary set forth in Section 10, terms used in this Agreement but
defined in the other Transaction Documents shall have the meanings ascribed to such terms on the Closing Date in such other Transaction
Documents unless otherwise consented to in writing by each Investor.

 

(l) All consents and other
determinations required to be made by the Investors pursuant to this Agreement shall be made, unless otherwise specified in this Agreement,
by the Required Holders, determined as if all of the outstanding Preferred Shares then held by the Investors have been converted for Registrable
Securities without regard to any limitations on redemption, amortization and/or conversion of the Preferred Shares.

 

(m) 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.

 

(n) The obligations of each
Investor under this Agreement and the other Transaction Documents are several and not joint with the obligations of any other Investor,
and no Investor shall be responsible in any way for the performance of the obligations of any other Investor under this Agreement or any
other Transaction Document. Nothing contained herein or in any other Transaction Document, and no action taken by any Investor pursuant
hereto or thereto, shall be deemed to constitute the Investors as, and the Company acknowledges that the Investors do not so constitute,
a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Investors are in
any way acting in concert or as a group or entity with respect to such obligations or the transactions contemplated by the Transaction
Documents or any matters, and the Company acknowledges that the Investors are not acting in concert or as a group, and the Company shall
not assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement or any of the other the
Transaction Documents. Each Investor shall be entitled to independently protect and enforce its rights, including, without limitation,
the rights arising out of this Agreement or out of any other Transaction Documents, and it shall not be necessary for any other Investor
to be joined as an additional party in any proceeding for such purpose. The use of a single agreement with respect to the obligations
of the Company contained herein was solely in the control of the Company, not the action or decision of any Investor, and was done solely
for the convenience of the Company and not because it was required or requested to do so by any Investor. It is expressly understood and
agreed that each provision contained in this Agreement and in each other Transaction Document is between the Company and an Investor,
solely, and not between the Company and the Investors collectively and not between and among Investors.

 

[signature page follows]

 

    18

     

    

 

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

 

	 	COMPANY:
	 	 
	 	LARKSPUR HEALTH ACQUISITION CORP.
	 	 	 
	 	By:	                   
	 	Name: 	 
	 	Title:	 

 

     

     

    

 

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

 

PURCHASER:

 

Name of Purchaser: __________________________

 

Signature of Authorized Signatory of Purchaser: __________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

 

     

     

    

 

EXHIBIT A

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

______________________

______________________

______________________

Attention: ______________

 

Re: Larkspur Health Acquisition
Corp.

 

Ladies and Gentlemen:

 

[We are][I am] counsel to Larkspur
Health Acquisition Corp., a Delaware corporation (the “Company”), and have represented the Company in connection with
that certain Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into by and among the Company
and the Purchasers named therein (collectively, the “Holders”) pursuant to which the Company issued to the Holders
series B convertible preferred stock (the “Preferred Shares”) convertible into the Company’s shares of common
stock, $0.0001 par value per share (the “Common Stock”). Pursuant to the Securities Purchase Agreement, the Company
also has entered into a Registration Rights Agreement with the Holders (the “Registration Rights Agreement”) pursuant
to which the Company agreed, among other things, to register the Registrable Securities (as defined in the Registration Rights Agreement),
including the shares of Common Stock issuable upon conversion of the Preferred Shares, under the Securities Act of 1933, as amended (the
“1933 Act”). In connection with the Company’s obligations under the Registration Rights Agreement, on ____________
___, 20__, the Company filed a Registration Statement on Form [S-1][S-3] (File No. 333-_____________) (the “Registration Statement”)
with the Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities which names each of
the Holders as a selling stockholder thereunder.

 

In connection with the foregoing,
[we][I] advise you that [a member of the SEC’s staff has advised [us][me] by telephone that [the SEC has entered an order declaring
the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS]] [an order declaring
the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS]] has been posted
on the web site of the SEC at www.sec.gov] and [we][I] have no knowledge, after a review of information posted on the website of the SEC
at http://www.sec.gov/litigation/stoporders.shtml, that any stop order suspending its effectiveness has been issued or that any proceedings
for that purpose are pending before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933
Act pursuant to the Registration Statement.

 

This letter shall serve as our
standing opinion to you that the shares of Common Stock underlying the Preferred Shares are freely transferable by the Holders pursuant
to the Registration Statement, provided the Registration Statement remains effective. You need not require further letters from us to
effect any future legend-free issuance or reissuance of such shares of Common Stock to the Holders as contemplated by the Company’s
Irrevocable Transfer Agent Instructions dated _________ __, 20__(the “Instructions”), provided that the conditions
set forth in such Instructions are met.

 

	 	Very truly yours,
	 	 
	 	[ISSUER’S COUNSEL]
	 	 	 
	 	By:	         

 

	CC:	[LEAD INVESTOR]
	 	[OTHER PURCHASERS]

 

     

     

    

 

EXHIBIT B

 

SELLING STOCKHOLDERS

 

The shares of common stock
being offered by the selling stockholders are those issuable to the selling stockholders upon conversion of the preferred shares and exercise
of the warrants. For additional information regarding the issuance of the preferred shares and the warrants, see [“Private Placement
of Preferred Shares”] above. We are registering the shares of common stock in order to permit the selling stockholders to offer
the shares for resale from time to time. Except for the ownership of the preferred shares and the warrants issued pursuant to the Securities
Purchase Agreement, the selling stockholders have not had any material relationship with us within the past three years.

 

The table below lists the
selling stockholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Securities Exchange
Act of 1934, as amended, and the rules and regulations thereunder) of the shares of common stock held by each of the selling stockholders.
The second column lists the number of shares of common stock beneficially owned by the selling stockholders, based on their respective
ownership of shares of common stock, preferred shares and warrants, as of ________, 20__, assuming conversion of the preferred shares
and exercise of the warrants held by each such selling stockholder on that date but taking account of any limitations on conversion and
exercise set forth therein.

 

The third column lists the
shares of common stock being offered by this prospectus by the selling stockholders and does not take in account any limitations on (i)
conversion of the preferred shares set forth therein or (ii) exercise of the warrants set forth therein.

 

In accordance with the terms
of a registration rights agreement with the holders of the preferred shares and the warrants, this prospectus generally covers the resale
of 150% of the sum of (i) the maximum number of shares of common stock issued or issuable pursuant to Certificate of Designation (assuming
a conversion price equal to the floor price of $[   ]), and (ii) the maximum number of shares of common stock issued or issuable upon exercise
of the warrants, in each case, determined as if the outstanding preferred shares and warrants were converted or exercised (as the case
may be) in full, in each case, without regard to any limitations on conversion or exercise contained therein solely for the purpose of
such calculation. Because the conversion price of the preferred shares and the exercise price of the warrants may be adjusted, the number
of shares that will actually be issued may be more or less than the number of shares being offered by this prospectus. The fourth column
assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus.

 

Under the terms of the preferred
shares and the warrants, a selling stockholder may not convert the preferred shares or exercise the warrants to the extent (but only to
the extent) such selling stockholder or any of its affiliates would beneficially own a number of shares of our common stock which would
exceed [4.99%][9.99%] of the outstanding shares of the Company. The number of shares in the second column reflects these limitations.
The selling stockholders may sell all, some or none of their shares in this offering. See “Plan of Distribution.”

  

	Name of Selling 

    Stockholder	 	Number of Shares of

    Common Stock Owned

    Prior to Offering	 	Maximum Number of 

    Shares of Common 

    Stock to be Sold

    Pursuant to this 

    Prospectus	 	Number of Shares of

    Common Stock of 

    Owned After 

    Offering
	[LEAD INVESTOR] (1)	 	 	 	 	 	 
	 	 	 	 	 	 	 
	[OTHER PURCHASERS]	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	(1) [    ]	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

     

     

    

 

PLAN OF DISTRIBUTION

 

We are registering the shares
of common stock issuable upon conversion of the preferred shares and exercise of the warrants to permit the resale of these shares of
common stock by the holders of the preferred shares and warrants from time to time after the date of this prospectus. We will not receive
any of the proceeds from the sale by the selling stockholders of the shares of common stock. We will bear all fees and expenses incident
to our obligation to register the shares of common stock.

 

The selling stockholders may
sell all or a portion of the shares of common stock held by them and offered hereby from time to time directly or through one or more
underwriters, broker-dealers or agents. If the shares of common stock are sold through underwriters or broker-dealers, the selling stockholders
will be responsible for underwriting discounts or commissions or agent’s commissions. The shares of common stock may be sold in
one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time
of sale or at negotiated prices. These sales may be effected in transactions, which may involve crosses or block transactions, pursuant
to one or more of the following methods:

 

	 	●	on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;
	 	 	 
	 	●	in the over-the-counter market;
	 	 	 
	 	●	in transactions otherwise than on these exchanges or systems or in the over-the-counter market;
	 	 	 
	 	●	through the writing or settlement of options, whether such options are listed on an options exchange or otherwise;
	 	 	 
	 	●	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;
	 	 	 
	 	●	block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;
	 	 	 
	 	●	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
	 	 	 
	 	●	an exchange distribution in accordance with the rules of the applicable exchange;
	 	 	 
	 	●	privately negotiated transactions;
	 	 	 
	 	●	short sales made after the date the Registration Statement is declared effective by the SEC;
	 	 	 
	 	●	broker-dealers may agree with a selling security holder to sell a specified number of such shares at a stipulated price per share;
	 	 	 
	 	●	a combination of any such methods of sale; and
	 	 	 
	 	●	any other method permitted pursuant to applicable law.

 

The selling stockholders may
also sell shares of common stock under Rule 144 promulgated under the Securities Act of 1933, as amended, if available, rather than under
this prospectus. In addition, the selling stockholders may transfer the shares of common stock by other means not described in this prospectus.
If the selling stockholders effect such transactions by selling shares of common stock to or through underwriters, broker-dealers or agents,
such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions from the selling
stockholders or commissions from purchasers of the shares of common stock for whom they may act as agent or to whom they may sell as principal
(which discounts, concessions or commissions as to particular underwriters, broker-dealers or agents may be in excess of those customary
in the types of transactions involved). In connection with sales of the shares of common stock or otherwise, the selling stockholders
may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the shares of common stock in the
course of hedging in positions they assume. The selling stockholders may also sell shares of common stock short and deliver shares of
common stock covered by this prospectus to close out short positions and to return borrowed shares in connection with such short sales.
The selling stockholders may also loan or pledge shares of common stock to broker-dealers that in turn may sell such shares.

 

     

     

    

 

The selling stockholders may
pledge or grant a security interest in some or all of the preferred shares, warrants or shares of common stock owned by them and, if they
default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock
from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of
the Securities Act amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors in
interest as selling stockholders under this prospectus. The selling stockholders also may transfer and donate the shares of common stock
in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial
owners for purposes of this prospectus.

 

To the extent required by
the Securities Act and the rules and regulations thereunder, the selling stockholders and any broker-dealer participating in the distribution
of the shares of common stock may be deemed to be “underwriters” within the meaning of the Securities Act, and any commission
paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting commissions or discounts under
the Securities Act. At the time a particular offering of the shares of common stock is made, a prospectus supplement, if required, will
be distributed, which will set forth the aggregate amount of shares of common stock being offered and the terms of the offering, including
the name or names of any broker-dealers or agents, any discounts, commissions and other terms constituting compensation from the selling
stockholders and any discounts, commissions or concessions allowed or re-allowed or paid to broker-dealers.

 

Under the securities laws
of some states, the shares of common stock may be sold in such states only through registered or licensed brokers or dealers. In addition,
in some states the shares of common stock may not be sold unless such shares have been registered or qualified for sale in such state
or an exemption from registration or qualification is available and is complied with.

 

There can be no assurance
that any selling stockholder will sell any or all of the shares of common stock registered pursuant to the registration statement, of
which this prospectus forms a part.

 

The selling stockholders and
any other person participating in such distribution will be subject to applicable provisions of the Securities Exchange Act of 1934, as
amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the Exchange
Act, which may limit the timing of purchases and sales of any of the shares of common stock by the selling stockholders and any other
participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of
the shares of common stock to engage in market-making activities with respect to the shares of common stock. All of the foregoing may
affect the marketability of the shares of common stock and the ability of any person or entity to engage in market-making activities with
respect to the shares of common stock.

 

We will pay all expenses of
the registration of the shares of common stock pursuant to the registration rights agreement, estimated to be $[   ] in total, including,
without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities or “blue sky”
laws; provided, however, a selling stockholder will pay all underwriting discounts and selling commissions, if any. We will indemnify
the selling stockholders against liabilities, including some liabilities under the Securities Act in accordance with the registration
rights agreements or the selling stockholders will be entitled to contribution. We may be indemnified by the selling stockholders against
civil liabilities, including liabilities under the Securities Act that may arise from any written information furnished to us by the selling
stockholder specifically for use in this prospectus, in accordance with the related registration rights agreements or we may be entitled
to contribution.

 

Once sold under the registration
statement, of which this prospectus forms a part, the shares of common stock will be freely tradable in the hands of persons other than
our affiliates.

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