Document:

Exhibit 10.29

 

THIS CONVERTIBLE SECURED NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE AFFECTED EXCEPT IN COMPLIANCE WITH RULE
144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDERS SATISFACTORY TO THE
COMPANY PROVIDING THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE
COMMISSION.

 

NYIAX,
Inc.

 

CONVERTIBLE NOTE

 

	$	                             	 	                             	, 2021

 

FOR VALUE RECEIVED, NYIAX, Inc. , a Delaware corporation with principal
place business at 244 5th Avenue, Suite 2669,NYC, NY 10001 , (hereinafter called “Borrower” or the “Company”),
hereby promises to pay to ____________________ (“Holder”), on order, the sum of ___________ U.S. Dollars (US$__________)
in cash, with interest accruing at the annual rate of ten (10.0%) percent with such interest payment in kind (“PIK”), with
a payment in Company common Stock valued at (i) $5.00 per share on the Maturity Date (as hereinafter defined) or (ii) the lesser of five
($5.00) dollars per share or the price determined pursuant to Section 1.3. Company and Holder collectively shall be designated for purposes
of this Note as the Parties.

 

The principal and accrued interest pursuant to this Note shall automatically
convert to shares equivalent to those purchased by an equity investor satisfying the terms of the Automatic Conversion addressed in Section
1.3 below. All the shares issuable upon Automatic Conversion will be fully paid and non-assessable, and free from all taxes, liens and
charges with respect to the issue thereof. The Borrower shall at all times have authorized and reserved for issuance of sufficient shares
of its stock to provide for the payment of interest in stock at Maturity and upon conversion of this Note including all accrued interest
thereof.

 

The following terms shall apply to this Note:

 

ARTICLE I

 

PAYMENT RELATED PROVISIONS

 

1.1   Interest Payments.
Borrower shall pay interest on the outstanding principal amount of this Note on the Maturity Date. The principal amount of this Note plus
any accrued and unpaid interest shall be collectively referred to herein as the “Debt.”

 

1.2   Repayment.
This Note, including accrued interest, shall be repaid to the Holder on or before the Maturity Date unless the Automatic Conversion provisions
contained herein are satisfied in section 1.3.

 

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1.3   Automatic
Conversion. In the event the Company undergoes any financing event or series of financing events on or before the Maturity
Date in an equity or debt financing in which cumulative gross proceeds equal or exceed five million dollars ($5,000,000) (“Financing
Event”) exclusive of this Offering, then the outstanding principal balance of the Note and all accrued and unpaid interest
(the “Conversion Amount”), shall be automatically converted into such Equity Securities under the same terms
and conditions as those Equity Securities purchased in the Financing Event. In no event shall the Company issue fractional shares, all
fractional shares shall be rounded up to the next whole share. The “Conversion Price” of Equity Securities for
the Borrower shall mean with respect to an automatic conversion in connection with the Financing Event, a price per share equal to : (i)
80% of the price per share paid by the purchasers of such Equity Securities in such Financing Event; or (ii) If the Company were to complete
an Initial Public Offering (“IPO”) as its Financing Event then the Conversion Price of the Note and all accrued interest from
the PIK shall convert at a fifteen (15%) discount to the IPO offering price

 

 1.4 Maturity Date: Unless earlier converted as set forth above, the outstanding principal and all accrued interest under the Notes will become due and payable on the earliest to occur of: (i) May 30th, 2022; (ii) a declared acceleration following an event of default, after any applicable grace period, or (iii) a Change in Control (defined below), as applicable, (A “Change in Control” shall mean (i) merger, or consolidation of the Company with ,or acquisition of voting securities by another person or entity which results in any person or entity acquiring majority voting control of the Company, or (ii) the disposition of all or substantially all of the assets of the Company).

 

ARTICLE II

 

EVENTS OF DEFAULT

 

The occurrence of any of the following events of default (each, an
“Event of Default”) shall, at the option of the Holder hereof, make all sums or principal and interest then remaining unpaid
hereon and all other amounts payable hereunder immediately due and payable, all without demand, presentment or notice, or grace period,
all of which hereby are expressly waived, except as set forth below:

 

2.1   Breach of Covenant.
The Borrower breaches any covenant or other term, or condition of this Note and such breach continues in excess of a period of thirty
(30) business days after written notice to the Borrower from a Holder.

 

2.2   Breach of Representations
and Warranties. Any representation or warranty of the Borrower made in any agreement, statement or certificate given in writing pursuant
hereto or in connection herewith shall be false or misleading in any material respect.

 

2.3   Receiver or Trustee.
The Borrower shall make an assignment for the benefit of Holders or apply for or consent to the appointment of a receiver or trustee for
it or for a substantial part of its property or business; or such a receiver or trustee shall otherwise be appointed.

 

2.4   Bankruptcy. Bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings or relief under any bankruptcy law or any law for the relief
of Borrowers shall be instituted by or against the Borrower.

 

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ARTICLE III

 

REPRESENTATIONS BY HOLDER

 

Holders represent and warrant to Borrower as follows:

 

3.1    To the best of its knowledge,
Holder has received and examined all public information, of or concerning Borrower which Holder considers necessary to making an informed
decision regarding this Note. In addition, Holder has had the opportunity to ask questions of, and receive answers from, the officers
and agents of Borrower concerning Borrower and to obtain such information, to the extent such persons possessed the same or could acquire
it without unreasonable effort or expense, as Holder deemed necessary to verify the accuracy of the information referred to herein.

 

3.2   Holder acknowledges and
understands that (i) the proceeds of this Note will not be sufficient to provide Borrower with the necessary funds to achieve its current
business plan; (ii) the Borrower does not have sufficient cash available to repay this Note; (iii) this Note will not be guaranteed, (iv)
Holder bears the economic risk of never being repaid on this Note; and (v) the Borrower may use the proceeds of this Note to satisfy past
payables. Holder has such knowledge and experience in financial and business matters that the Holder can evaluate the merits and risks
of the Holder’s investment in this Note.

 

3.3   Holder hereby certifies
that Holder is an “Accredited Investor” (as that term is defined by Regulation D under the Securities Act of 1933, as amended
(the “Securities Act”)) because at least one of the following statements is applicable to Holder:

 

(a) Holder is an Accredited Investor because the Holder had
individual income of more than $200,000 in each of the two prior calendar years and reasonably expects to have individual income in excess
of $200,000 during the current calendar year.

 

(b) Holder is an Accredited Investor because the Holder and
his spouse together had income of more than $300,000 in each of the two prior calendar years and reasonably expect to have joint income
in excess of $300,000 during the current calendar year.

 

(c) Holder is an Accredited Investor because the Holder has
an individual net worth, or the Holder and his spouse have a joint net worth of more than $1,000,000. For purposes of this Section
3.3(c), “net worth” means the excess of the Investor’s total assets at fair market value, not including the value of
the Investor’s primary residence, over Investor’s total liabilities, not including the amount of indebtedness on the
Investor’s primary residence that does not exceed the value of the Investor’s primary residence.

 

(d) Holder which is an entity is an Accredited Investor because
the Holder has total assets in excess of $5,000,000.

 

3.4   Holder is acquiring this
Note for its own account, for investment purposes only, and not with a view to the resale or distribution of all or any part thereof.

 

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3.5   Holder acknowledges that
this Note (a) has not been registered under applicable securities laws, (b) will be a “restricted security” as defined in applicable
securities laws, (c) has been issued in reliance on the statutory exemptions from registration contemplated by applicable securities laws
based (in part) on the accuracy of Holder’s representations contained herein, and (d) will not be transferable without registration
under applicable securities laws, unless an exemption from such registration requirements is available.

 

3.7   Holder has had this Note
and any other documents executed in connection herewith reviewed by their own counsel.

 

ARTICLE IV

 

MISCELLANEOUS

 

4.1   Failure or Indulgency
Not Waiver. No failure or delay on the part of Holder hereof in the exercise of any power, right or privilege hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise
thereof or the exercise of any other right, power or privilege. All rights and remedies existing hereunder are cumulative to, and not
exclusive of, any rights or remedies otherwise available.

 

4.2   Notices. Any notice
herein required or permitted to be given shall be in writing and may be personally served and shall be deemed to be delivered upon receipt
or if sent by United States mail, three (3) business days after being deposited in the United States mail, certified, with postage pre-paid
and properly addressed, if sent by fax transmission (with the original sent by certified or registered mail or by overnight courier) and
shall be deemed to have been delivered on the day telecopied, or by electronic mail or services such as Docusign with acknowledged receipt
by the Parties. For the purposes hereof, the addresses and fax numbers of Holder and the Borrower are as set forth on the signature page
hereof. Holder and Borrower may change the address, fax number, and email for service by service of written, fax notice, or email notice
to the other as herein provided as follows (or to such other address as any party may give in a notice given in accordance with the provisions
hereof):

 

Borrower: 

NYIAX, Inc.,

244 5th Avenue

NYC, NY 10001

 

	Attn:	Robert Ainbinder,
    Interim CEO
	 	Mark Grinbaum, Co-Founder,
    EVP and Corp. Secretary

 

Holder:

Name:

Address

 

Attn:

 

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4.3   Definition of Note.
The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed,
or if later amended or supplemented, then as so amended or supplemented.

 

4.4   Assignability.
This Note may not be assigned by the Borrower without the written consent of the Holder. This Note shall be binding upon the Borrower
and its successors and assigns and shall inure to the benefit of the Holder and its successors and assigns.

 

4.5   Cost of Collection.
If default is made in the payment of this Note, Borrower shall pay the Holder hereof costs of collection, including attorneys’ fees.

 

4.6   Governing Law; Dispute
Resolution; Waiver of Jury Trial. This Note shall be governed by and construed in accordance with the laws of the State of New York,
without reference to principles of conflict of laws. The Parties irrevocably submit to the jurisdiction of any state or federal court
sitting in or for the United States District Court for the Southern District of New York or any New York State court sitting in New York
County, New York with respect to any dispute arising out of or relating to the Securities, and each party irrevocably agrees that all
claims in respect of such dispute or proceeding shall be heard and determined in such courts. The Parties hereby irrevocably waive, to
the fullest extent permitted by law, any objection that they may now or hereafter have to the venue of any dispute arising out of or relating
to the Securities or the transactions contemplated hereby brought in such court or any defense of inconvenient forum for the maintenance
of such dispute or proceeding. Each party agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on
the judgment or in any other manner provided by law. THE PARTIES HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTER
CLAIM BROUGHT OR ASSERTED BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER ON ANY MATTERS WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATED
TO THIS AGREEMENT.

 

4.7   No Amendment. This Note
shall not be amended without the prior written consent of the Holder.

 

IN WITNESS WHEREOF, Borrower has caused this Note to be signed in its
name on the ____ day of _________, 2021.

 

	NYIAX,
    Inc. By:
	Holder:

	 	 
	Name:
	Name:

	Title:	Title:
	 	 
	Address
    for Notice to Borrower:
	Address
        for Notice to Holder:

	 	 
	Email:
	Email:

	Date:	Date:

 

 

5 | P a g eExhibit 10.30

 

 

 

Warrant Certificate No.

 

NEITHER THE SECURITIES REPRESENTED BY
THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE
STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER
OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.

 

	Effective Date:		 Void After:

 

NYIAX, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

NYIAX, Inc., a
Delaware corporation (the “Company”), for value received on ___________ (the “Effective Date”),
hereby issues to _______________________________________________________(the “Holder” or “Warrant Holder”)
this Warrant (the “Warrant”) to purchase ______ shares (each such share as from time to time adjusted as hereinafter
provided being a “Warrant Share” and all such shares being the “Warrant Shares”) of the Company’s
Common Stock (as defined below), at the Exercise Price (as defined below), as adjusted from time to time as provided herein, on or before
_________ or at the initial public offering (“IPO”) of the Company which every event occurs first (the “Expiration
Date”), all subject to the following terms and conditions. This Warrant has been issued to the Holder pursuant to that certain
Securities Purchase Agreement dated _______________ by and between the Company and the Holder (the “Securities Purchase Agreement”).

 

As used in this
Warrant, (i) “Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks in
the City of New York, New York, are authorized or required by law or executive order to close; (ii) “Common Stock”
means the common stock of the Company, par value $0.001 per share, including any securities issued or issuable with respect thereto or
into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination,
recapitalization, reclassification, reorganization or other similar event; (iii) “Exercise Price” means five ($5) dollars
per share of Common Stock, subject to adjustment as provided herein; (iv) “Trading Day” means any day on which the
Common Stock is traded (or available for trading) on its principal trading market; and (v) “Affiliate” means any person
that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, a person,
as such terms are used and construed in Rule 144 promulgated under the Securities Act of 1933, as amended (the “Securities Act”).

 

     

     

    

 

	1.	DURATION AND EXERCISE OF WARRANTS

 

(a) Exercise
Period. The Holder may exercise this Warrant in whole or in part on any Business Day on or before 5:00 P.M., Eastern Time, on the
Expiration Date, at which time this Warrant shall become void and of no value.

 

(b)
Exercise Procedures.

 

(i) While
this Warrant remains outstanding and exercisable in accordance with Section 1(a), the Holder may exercise this Warrant in whole or in
part at any time and from time to time by:

 

(A)
delivery to the Company of a duly executed copy of the Notice of Exercise attached as Exhibit A.

 

(B) surrender
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder; and

 

(C) payment
of the then-applicable Exercise Price per share multiplied by the number of Warrant Shares being purchased upon exercise of the Warrant
(such amount, the “Aggregate Exercise Price”) made in the form of cash, or by certified check, bank draft or money
order payable in lawful money of the United States of America.

 

(ii) Upon
the exercise of this Warrant in compliance with the provisions of this Section 1(b), the Company shall promptly issue and cause to be
delivered to the Holder a certificate for the Warrant Shares purchased by the Holder. Each exercise of this Warrant shall be effective
immediately prior to the close of business on the date (the “Date of Exercise”) that the conditions set forth in Section
1(b) have been satisfied, as the case may be. On the first Business Day following the date on which the Company has received each of the
Notice of Exercise and the Aggregate Exercise Price (the “Exercise Delivery Documents”), the Company shall transmit
an acknowledgment of receipt of the Exercise Delivery Documents to the Company’s transfer agent (the “Transfer Agent”).
On or before the third (3rd) Business Day following the date on which the Company has received all of the Exercise Delivery
Documents (the “Share Delivery Date”), the Company shall (X) provided that the Transfer Agent is participating in The
Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, upon the request of the Holder, credit
such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its
designee’s balance account with DTC through its Deposit Withdrawal Agent Commission system, or (Y) if the Transfer Agent is not
participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch by overnight courier to the address as specified
in the Notice of Exercise, a certificate, registered in the Company’s share register in the name of the Holder or its designee,
for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. Upon delivery of the Exercise Delivery
Documents, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect
to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant Shares.

 

(c) Partial
Exercise. This Warrant shall be exercisable, either in its entirety or, from time to time, for part only of the number of
Warrant Shares referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant to Section 1 and
the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the actual number of Warrant Shares
being acquired upon such an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business
Days after any exercise and at its own expense, issue a new Warrant of like tenor representing the right to purchase the number of
Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to
which this Warrant is exercised.

 

(d) Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company
shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section
16.

 

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	2.	ISSUANCE OF WARRANT SHARES

 

(a) The
Company covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized, fully
paid and non-assessable, and (ii) free from all liens, charges and security interests, with the exception of claims arising through the
acts or omissions of any Holder and except as arising from applicable Federal and state securities laws.

 

(b) The
Company shall register this Warrant upon records to be maintained by the Company for that purpose in the name of the record holder of
such Warrant from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner thereof for
the purpose of any exercise thereof, any distribution to the Holder thereof and for all other purposes.

 

(c) The
Company will not, by amendment of its certificate of incorporation, by-laws or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out
of all the provisions of this Warrant and in the taking of all action necessary or appropriate in order to protect the rights of the Holder
to exercise this Warrant, or against impairment of such rights.

 

	3.	ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT SHARES

 

(a) The
Exercise Price and the number of shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time
upon the occurrence of certain events described in this Section 3; provided, that notwithstanding the provisions of this Section
3, the Company shall not be required to make any adjustment if and to the extent that such adjustment would require the Company to issue
a number of shares of Common Stock in excess of its authorized but unissued shares of Common Stock, less all amounts of Common Stock that
have been reserved for issue upon the conversion of all outstanding securities convertible into shares of Common Stock and the exercise
of all outstanding options, warrants and other rights exercisable for shares of Common Stock. If the Company does not have the requisite
number of authorized but unissued shares of Common Stock to make any adjustment, the Company shall use its commercially best efforts to
obtain the necessary stockholder consent to increase the authorized number of shares of Common Stock to make such an adjustment pursuant
to this Section 3.

 

(i) Subdivision or
Combination of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or
otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to
such subdivision shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and
conversely, in case the outstanding shares of Common Stock of the Company shall be combined (whether by way of stock combination,
reverse stock split or otherwise) into a smaller number of shares, the Exercise Price in effect immediately prior to such
combination shall be proportionately increased and the number of Warrant Shares shall be proportionately decreased. The Exercise
Price and the Warrant Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or
events described in this Section 3(a)(i).

 

(ii) Dividends
in Stock, Property, Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares of stock
or other securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to receive, without
payment therefore:

 

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(A) any
shares of stock or other securities that are at any time directly or indirectly convertible into or exchangeable for Common Stock, or
any rights or options to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution, or

 

(B)
additional stock or other securities or property (including cash) by way of spin-off, split-up, reclassification, combination of
shares or similar corporate rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of
which shall be covered by the terms of Section 3(a)(i) above), then and in each such case, the Exercise Price and the number of
Warrant Shares to be obtained upon exercise of this Warrant shall be adjusted proportionately, and the Holder hereof shall, upon the
exercise of this Warrant, be entitled to receive, in addition to the number of shares of Common Stock receivable thereupon, and
without payment of any additional consideration therefor, the amount of stock and other securities and property (including cash in
the cases referred to above) that such Holder would hold on the date of such exercise had such Holder been the holder of record of
such Common Stock as of the date on which holders of Common Stock received or became entitled to receive such shares or all other
additional stock and other securities and property. The Exercise Price and the Warrant Shares, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described in this Section 3(a)(ii).

 

(iii) Reorganization,
Reclassification, Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital stock
of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its
assets or other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities,
or other assets or property (an “Organic Change”), then, as a condition of such Organic Change, lawful and adequate
provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of
the shares of the Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
by this Warrant) such shares of stock, securities or other assets or property as may be issued or payable with respect to or in exchange
for a number of outstanding shares of such Common Stock equal to the number of shares of such stock immediately theretofore purchasable
and receivable assuming the full exercise of the rights represented by this Warrant. In the event of any Organic Change, appropriate provision
shall be made by the Company with respect to the rights and interests of the Holder of this Warrant to the end that the provisions hereof
(including, without limitation, provisions for adjustments of the Exercise Price and of the number of shares purchasable and receivable
upon the exercise of this Warrant) shall thereafter be applicable, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise hereof. The Company will not affect any such consolidation, merger or sale unless, prior to the consummation
thereof, the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing
such assets shall assume by written instrument reasonably satisfactory in form and substance to the Holder executed and mailed or delivered
to the registered Holder hereof at the last address of such Holder appearing on the books of the Company, the obligation to deliver to
such Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to
purchase.

 

If there is an Organic Change, then
the Company shall cause to be mailed to the Holder at its last address as it shall appear on the books and records of the Company, at
least 10 calendar days before the effective date of the Organic Change, a notice stating the date on which such Organic Change is expected
to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
exchange their shares for securities, cash, or other property delivered upon such Organic Change; provided, that the failure to mail such
notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified
in such notice. The Holder is entitled to exercise this Warrant during the 10-day period commencing on the date of such notice to the
effective date of the event triggering such notice. In any event, the successor corporation (if other than the Company) resulting from
such consolidation or merger or the corporation purchasing such assets shall be deemed to assume such obligation to deliver to such Holder
such shares of stock, securities or assets even in the absence of a written instrument assuming such obligation to the extent such assumption
occurs by operation of law.

 

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(b) Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The
Company shall promptly furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such adjustments and readjustments;
and (ii) the number of shares and the amount, if any, of other property which at the time would be received upon the exercise of the Warrant.

 

(c) Certain
Events. If any event occurs as to which the other provisions of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in accordance with the basic intent and principles of such
provisions, or if strictly applicable would not fairly protect the purchase rights of the Holder under this Warrant in accordance with
the basic intent and principles of such provisions, then the Company's Board of Directors will, in good faith, make an appropriate adjustment
to protect the rights of the Holder; provided, that no such adjustment pursuant to this Section 3(c) will increase the Exercise
Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 3.

 

	4.	REDEMPTION OF WARRANTS

 

(a) General.
Prior to the Expiration Date, the Company shall have the option, subject to the conditions set forth herein, to redeem all of the Warrants
then outstanding at the Redemption Price (defined hereafter), upon not less than thirty (30) days nor more than sixty (60) days prior
written notice to the Warrant Holders at any time provided that, at the time of delivery of such notice (i) there is an effective registration
statement covering the resale of the Warrant Shares or the Warrant Shares are otherwise freely tradable; (ii) the average daily trading
volume of the Company’s Common Stock has been at least 25,000 shares per day during the four (4) week period immediately preceding
the issuance of the notice of redemption; and (iii) the closing bid price of the Company’s Common Stock for 20 of the 30 consecutive
trading days prior to the date of the notice of redemption is at least 150% of the then Exercise Price of the Warrants at the time of
written notice to the Warrant Holders, as proportionately adjusted to reflect any stock splits, stock dividends, combination of shares
or like events.

 

(b) Notice. Notice
of redemption will be effective upon mailing in accordance with this Section and such date may be referred to below as the
“Notice Date.” Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less
than 30 days prior to the date fixed for redemption to the Holders of the Warrants to be redeemed at their last addresses as they
shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been
duly given whether or not the Holder received such notice.

 

(c) Redemption
Date and Redemption Price. The notice of redemption shall state the date set for redemption, which date shall be not less than thirty
(30) days, or more than sixty (60) days, from the Notice Date (the “Redemption Date”). The Company shall not mail the
notice of redemption unless all funds necessary to pay for redemption of the Warrants to be redeemed shall have first been set aside by
the Company for the benefit of the Warrant Holders so as to be and continue to be available therefor. The redemption price to be paid
to the Warrant Holders will be $0.001 dollars for each share of Common Stock of the Company to which the Warrant Holder would then be
entitled upon exercise of the Warrant being redeemed, as adjusted from time to time as provided herein (the “Redemption Price”).

 

    4 | Page

     

    

 

(d) Exercise.
Following the Notice Date, the Warrant Holders may exercise their Warrants in accordance with Section 1 of this Warrant between the Notice
Date and 5:00 p.m. Eastern Time on the Redemption Date and such exercise shall be timely if the form of election to purchase duly executed
and the Warrant Exercise Price for the shares of Common Stock to be purchased are actually received by the Company at its principal offices
prior to 5:00 p.m. Eastern Time on the Redemption Date.

 

(e) Mailing.
If any Warrant Holder does not wish to exercise any Warrant being redeemed, he should mail such Warrant to the Company at its principal
offices after receiving the notice of redemption. On and after 5:00 p.m. Eastern Time on the Redemption Date, notwithstanding that any
Warrant subject to redemption shall not have been surrendered for redemption, the obligation evidenced by all Warrants not surrendered
for redemption or effectively exercised shall be deemed no longer outstanding, and all rights with respect thereto shall forthwith cease
and terminate, except only the right of the holder of each Warrant subject to redemption to receive the Redemption Price for each share
of Common Stock to which he would be entitled if he exercised the Warrant upon receiving notice of redemption of the Warrant subject to
redemption held by him.

 

	5.	TRANSFERS AND EXCHANGES OF WARRANT AND WARRANT SHARES

 

(a) Registration
of Transfers and Exchanges. Subject to Section 5(c), upon the Holder’s surrender of this Warrant, with a duly executed copy
of the Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices or at such other office
or agency as the Company may specify in writing to the Holder, the Company shall register the transfer of all or any portion of this Warrant.
Upon such registration of transfer, the Company shall issue a new Warrant, in substantially the form of this Warrant, evidencing the acquisition
rights transferred to the transferee and a new Warrant, in similar form, evidencing the remaining acquisition rights not transferred,
to the Holder requesting the transfer.

 

(b) Warrant
Exchangeable for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially the
form of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder,
each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of Warrant Shares as
shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding such re-certification
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder.

 

(c) Restrictions on
Transfers. This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an
exemption from such registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of the
Warrant may be effected without registration under the Securities Act, which opinion will be in form and from counsel reasonably
satisfactory to the Company.

 

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(d) Permitted
Transfers and Assignments. Notwithstanding any provision to the contrary in this Section 5, the Holder may transfer, with or without
consideration, this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates (as such term is defined
under Rule 144 of the Securities Act) without obtaining the opinion from counsel that may be required by Section 5(c)(ii), provided,
that the Holder delivers to the Company and its counsel certification, documentation, and other assurances reasonably required by the
Company’s counsel to enable the Company’s counsel to render an opinion to the Company’s Transfer Agent that such transfer
does not violate applicable securities laws.

 

	6.	MUTILATED OR MISSING WARRANT CERTIFICATE

 

If this Warrant
is mutilated, lost, stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and upon
cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially the
form of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that, as a prerequisite
to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction as well as an indemnity
from the Holder of a lost, stolen or destroyed Warrant.

 

	7.	PAYMENT OF TAXES

 

The Company will
pay all transfer and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant Shares
(and replacement Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that the Company
shall not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates for Warrant
Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.

 

	8.	FRACTIONAL WARRANT SHARES

 

No fractional
Warrant Shares shall be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round
up the number of Warrant Shares issuable to nearest whole share.

 

	9.	NO STOCK RIGHTS AND LEGEND

 

No holder of this
Warrant, as such, shall be entitled to vote or be deemed the holder of any other securities of the Company that may at any time be issuable
on the exercise hereof, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, the rights
of a stockholder of the Company or the right to vote for the election of directors or upon any matter submitted to stockholders at any
meeting thereof, or give or withhold consent to any corporate action or to receive notice of meetings or other actions affecting stockholders
(except as provided herein), or to receive dividends or subscription rights or otherwise (except as provide herein).

 

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Each certificate
for Warrant Shares initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND
ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF
COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES
MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE ACT OR APPLICABLE STATE SECURITIES LAWS.”

 

	10.	PIGGYBACK REGISTRATION RIGHT

 

If, at any time
within twelve (12) months of the Effective Date, the Company proposes to file a registration statement under the Securities Act with respect
to an offering by the Company of its Common Stock (other than a registration (i) pursuant to a Registration Statement on Form S-8 (or
other registration solely relating to an offering or sale to employees or directors of the Company pursuant to any employee stock plan
or other employee benefit arrangement), (ii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction
subject to Rule 145 under the Securities Act or any successor rule thereto), or (iii) in connection with any dividend or distribution
reinvestment or similar plan), then the Company shall give written notice (each, a “Company Piggy-Back Notice”) of such proposed
filing to Holder at least fifteen (15) days before the anticipated filing date of such registration statement, and such Company Piggy-Back
Notice also shall be required to offer to such Rightsholders the opportunity to register such aggregate number of Warrant Shares as the
Holder may request. The Holder shall have the right, exercisable for the five days immediately following the giving of a Company Piggy-Back
Notice, to request, by written notice (the “Holder Notice”) to the Company, the inclusion of all or any portion of the Warrant
Shares of the Holder in such registration statement. The Company shall use reasonable efforts to cause the managing underwriter(s) of
a proposed underwritten offering to permit the inclusion of the Warrant Shares which were the subject of the Holder Notice in such underwritten
offering on the same terms and conditions as any Common Stock of the Company included therein. Notwithstanding anything to the contrary
contained in this paragraph, if the managing underwriter(s) of such underwritten offering or any proposed underwritten offering delivers
a written opinion to the Holder that the total number of shares of Common Stock which they, the Company and any other person intend to
include in such offering is such as to materially and adversely affect the success of such offering, then the amount of securities to
be offered for the accounts of the Holder and persons other than the Company shall be eliminated or reduced pro rata (based on the amount
of securities owned by the Holder and other persons which carry registration rights) to the extent necessary to reduce the total amount
of securities to be included in such offering to the amount recommended by such managing underwriter(s) in the managing underwriter’s
written opinion.

 

Notwithstanding anything
contained to the contrary in this Section 10, the Company shall have the absolute right, whether before or after the giving of a
Company Piggy-Back Notice or Holder Notice, to determine not to file a registration statement to which the Holder shall have the
right to include its Warrant Shares therein pursuant to this Section 10, to withdraw such registration statement or to delay or
suspend pursuing the effectiveness of such registration statement. In the event of such a determination after the giving of a
Company Piggy-Back Notice, the Company shall give notice of such determination to the Holder and other persons which carry
registration rights and, thereupon, (A) in the case of a determination not to register or to withdraw such registration statement,
the Company shall be relieved of its obligation under this Section 10 to register any of the Warrant Shares in connection with such
registration and (B) in the case of a determination to delay the registration, the Company shall be permitted to delay or suspend
the registration of Warrant Shares pursuant to this Section 10 for the same period as the delay in the registration of such other
securities.

 

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	11.	NOTICES

 

All notices, consents,
waivers, and other communications under this Warrant must be in writing and will be deemed given to a party when (a) delivered to the
appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile or e-mail with
confirmation of transmission by the transmitting equipment; (c) received or rejected by the addressee, if sent by certified mail, return
receipt requested, if to the registered Holder hereof; or (d) seven days after the placement of the notice into the mails (first class
postage prepaid), to the Holder at the address, facsimile number, or e-mail address furnished by the registered Holder to the Company,
or if to the Company, to it at:

 

NYIAX, Inc.

244 5th Avenue,

Suite 2669

New York, NY 10001

Attention: Mark Grinbaum

Email: mgrinbaum@nyiax.com

 

	12.	SEVERABILITY

 

If a court of
competent jurisdiction holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain
in full force and effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force
and effect to the extent not held invalid or unenforceable.

 

	13.	BINDING EFFECT

 

This Warrant shall
be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, the registered Holder or Holders
from time to time of this Warrant and the Warrant Shares.

 

	14.	SURVIVAL OF RIGHTS AND DUTIES

 

This Warrant shall
terminate and be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on which
this Warrant has been exercised in full.

 

	15.	GOVERNING LAW

 

This Warrant will
be governed by and construed under the laws of the State of Delaware without regard to conflicts of laws principles that would require
the application of any other law.

 

	16.	DISPUTE RESOLUTION

 

In the case of a dispute
as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within two (2) Business Days of receipt of the Notice of Exercise
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such
determination or calculation of the Exercise Price or the Warrant Shares within three Business Days of such disputed determination
or arithmetic calculation being submitted to the Holder, then the Company shall, within two Business Days, submit via facsimile (a)
the disputed determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved
by the Holder or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside
accountant. The Company shall cause at its expense the investment bank or the accountant, as the case may be, to perform the
determinations or calculations and notify the Company and the Holder of the results no later than ten (10) Business Days from the
time it receives the disputed determinations or calculations. Such investment bank’s or accountant’s determination or
calculation, as the case may be, shall be binding upon all parties absent demonstrable error.

 

    8 | Page

     

    

 

	17.	NOTICES OF RECORD DATE

 

Upon (a) any establishment
by the Company of a record date of the holders of any class of securities for the purpose of determining the holders thereof who are entitled
to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other right, or (b) any
capital reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into any other corporation,
any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution, liquidation or winding
up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock (whether newly issued, or from
treasury, or previously issued and then outstanding, or any combination thereof), the Company shall mail to the Holder at least ten (10)
Business Days, or such longer period as may be required by law, prior to the record date specified therein, a notice specifying (i) the
date established as the record date for the purpose of such dividend, distribution, option or right and a description of such dividend,
option or right, (ii) the date on which any such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation
or winding up, or sale is expected to become effective and (iii) the date, if any, fixed as to when the holders of record of Common Stock
shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such reorganization, reclassification,
transfer, consolation, merger, dissolution, liquidation or winding up.

 

	18.	RESERVATION OF SHARES

 

The Company shall
reserve and keep available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant, free
from pre-emptive rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation
of any applicable law or regulation. Without limiting the generality of the foregoing, the Company covenants that it will use commercially
reasonable efforts to take all such action as may be necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and use commercially reasonable efforts to obtain all such
authorizations, exemptions or consents, including but not limited to consents from the Company’s stockholders or Board of Directors
or any public regulatory body, as may be necessary to enable the Company to perform its obligations under this Warrant.

 

	19.	NO THIRD-PARTY RIGHTS

 

This Warrant is
not intended, and will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or entity
may assert any rights as third-party beneficiary hereunder.

 

[remainder of page intentionally
left blank]

 

    9 | Page

     

    

 

IN WITNESS WHEREOF, the Company has
caused this Warrant to be duly executed as of the date first set forth above.

 

	 	NYIAX, INC.
	 		
	 	By: 	
	 	Name:
    	Mark Grinbaum
	 	Title:	Co-Founder, EVP, Corporate Secretary and Treasurer

 

    10 | Page

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

(To be executed by the Holder of Warrant
if such Holder desires to exercise Warrant)

 

To NYIAX, Inc.:

 

The undersigned hereby irrevocably
elects to exercise this Warrant and to purchase thereunder, __________full shares of NYIAX, Inc.’s common stock issuable upon exercise of
the Warrant and delivery of $ __________(in cash as provided for in the foregoing Warrant) and any applicable taxes payable by the undersigned
pursuant to such Warrant; and

 

The undersigned requests that certificates for such shares
be issued in the name of:

 

 

 

(Please print name, address and social
security or federal employer

identification number (if applicable))

 

 

 

 

 

If the shares issuable
upon this exercise of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise of the Warrant,
the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered to:

 

 

 

(Please print name, address and social
security or federal employer

identification number (if applicable))

 

 

 

 

 

	 	Name of Holder (print): ____________________________
	 	(Signature):______________________________________
	 	(By:)___________________________________________
	 	(Title:)__________________________________________
	 	Dated:__________________________________________

 

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EXHIBIT B

 

FORM
OF ASSIGNMENT

 

FOR VALUE RECEIVED,
hereby sells, assigns and transfers to each assignee set forth below all of the rights of the undersigned under the Warrant
(as defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set opposite the name of such assignee below
and in and to the foregoing Warrant with respect to said acquisition rights and the shares issuable upon exercise of the Warrant:

 

	Name of Assignee	 	Address	 	Number of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

If the total of
the Warrant Shares are not all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant evidencing
the right to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.

 

	 	Name of Holder (print): ____________________________
	 	(Signature):______________________________________
	 	(By:)___________________________________________
	 	(Title:)__________________________________________
	 	Dated:__________________________________________

 

 

12 | Page

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