Document:

Exhibit 10.1

 

AMENDMENT AGREEMENT

 

This AMENDMENT
AGREEMENT (this “Agreement”) is dated as of August 29, 2022 (the “Effective Date”) is entered
into by and between IDEANOMICS, INC. (the “Issuer”) and YA II PN, LTD. (“YA II”).

 

BACKGROUND

 

WHEREAS, on
October 25, 2021, the Issuer issued and sold to YA II, and YA II purchased from the Issuer, that certain Convertible Debenture (No. IDEX-102421)
(the “Original Debenture”) with a face amount of $75,000,000.00. As of the Effective Date, the outstanding principal
balance (the “Outstanding Balance”) of the Original Debenture was $16,717,808.55, consisting of outstanding principal
of $16,666,667.00 and accrued and unpaid interest of $51,141.55.

 

WHEREAS, the
Issuer and YA II have agreed to amend the terms of the Original Debenture as set forth in this Agreement. On the Effective Date, the Issuer
shall issue and deliver to YA II, and YA II shall accept from the Issuer, that certain Amended and Restated Convertible Debenture (the
 “Amended Debenture”) of even date herewith given by the Issuer in favor of YA II, which shall amend and restate the
terms of the Original Debenture in its entirety.

 

NOW, THEREFORE,
in consideration of the foregoing and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the parties
hereto agree as follow:

 

1.            
Outstanding Balance; Reaffirmations; Issuance of Amended Debenture. As of the Effective Date, the Outstanding Balance on the
Original Debenture was $16,717,808.55, which immediately prior to the Effective Date was due and owing by the Issuer to YA II in accordance
with the terms of the Original Debenture. The Issuer had, and has, no right of offset, setoff, deduction, or defense to the enforcement
of the terms of the Original Debenture by YA II, and the Issuer hereby waives, and releases YA II from any right it had or may have to
any such offsets, setoffs, deductions or defenses to the enforcement by YA II of the Original Debenture. Moreover, the Issuer has no claims
or causes of action against YA II or Yorkville Advisors Global, LP (“Yorkville”), YA II’s investment manager,
or Yorkville’s and YA II’s respective partners, officers, employees, affiliates or successor or assigns (collectively, the
 “YA Parties”), and the Issuer hereby waives and releases the YA Parties from any claims or causes of action whatsoever
in connection with, or related to, the Original Debenture, any other financing transaction and any other dealings between the parties
hereto occurring on or prior to the Effective Date. On the Effective Date, the Issuer shall issue to YA II, and YA II shall accept from
the Issuer, the Amended Debenture. The Outstanding Balance of the Original Debenture shall be equal to the Amended Principal Amount as
set forth in the Amended Debenture.

 

2.             Escrow.
On the Effective Date, the Issuer shall escrow with Transfer Online, Inc. (the “Escrow Agent”) the sum of
$8,333,333.50 (representing 50% of the principal portion of the Outstanding Balance, the “Escrow Funds”))
pursuant to the terms of an Escrow Agreement of even date herewith among the Issuer, YA II and the Escrow Agent, which shall be
disbursed by the Escrow Agent in accordance with the terms hereof. If, on or prior to September 12, 2022, the Issuer files with the
U.S. Securities and Exchange Commission (“SEC”) all Initial Periodic Reports (as defined herein) required to be
filed by the Issuer under applicable laws and regulations so as to be current on all of its periodic SEC filings as of such date,
then promptly upon receipt of written instructions from YA II the Escrow Agent shall promptly disburse the Escrow Funds (without
interest) to the Issuer. If the Issuer fails to file all Initial Periodic Reports by September 12, 2022, in strict compliance with
the immediately preceding sentence, then upon receipt of written instructions from YA II the Escrow Agent shall promptly disburse
the Escrow Funds (without interest) to YA II, which amount shall reduce the outstanding balance on the Amended Debenture in
accordance with the terms thereof. The Issuer shall pay all fees and expenses of the Escrow Agent.

 

     

     

    

 

For purposes hereof,
 “Initial Periodic Reports” means the Issuer’s (i) Annual Report on Form 10-K for the fiscal year ended December
31, 2021, (ii) Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, (iii) Quarterly Report on Form 10-Q for the
fiscal quarter ended June 30, 2022, and (iv) all other reports required to be filed by the Issuer with the SEC under all applicable laws
and regulations (including, without limitation, Regulation S-K); provided that all such Initial Periodic Reports shall include,
when filed, all financial statements, audit reports (when applicable) and other information required to be included in such Initial Periodic
Reports to be in full compliance with all applicable laws and regulations.

 

3.            
Issuer’s Covenants. The Issuer desires to satisfy the Amended Debenture through a conversion, or series of conversions,
of the Amended Debenture into shares of Issuer’s common stock to be made by YA II, all on the terms set forth herein and in the
Amended Debenture. The Issuer acknowledges, agrees and covenants that YA II has full and complete right and authority to convert the Amended
Debenture and sell the underlying common stock at its sole and absolute discretion. The Issuer hereby fully and forever waives any and
all defenses to YA II’s enforcement of the Amended Debenture based on the manner, method, or timing of any or all conversions of
the Amended Debenture or the sale of any or all of the underlying common stock. The Issuer hereby acknowledges, agrees and covenants that
it shall promptly issue to YA II shares of its common stock upon conversion of the Amended Debenture by YA II, all on the terms set forth
in the Amended Debenture. The consideration for the conversion of the Amended Debenture shall consist solely of the conversion (and no
other consideration) of the Amended Debenture. The Issuer shall reserve the Designated Shares (as defined herein) for the sole and exclusive
right of YA II upon conversion of the Amended Debenture. Such reserve shall remain in place until the full outstanding balances of the
Amended Debenture is indefeasibly satisfied in full.

 

4.           
Representations and warranties. The Issuer hereby represents and warrants to the YA II as of the date of this Agreement
that:

 

(a)         
it has the requisite corporate power and authority to enter into this Agreement and the Amended Debenture and to consummate the
transactions contemplated by this Agreement and the Amended Debenture;

 

(b)         
it has taken all necessary corporate actions to authorize the execution, delivery and performance of this Agreement and the Amended
Debenture and no further action is required by the Issuer, the Board of Directors or the Issuer’s stockholders in connection therewith;

 

(c)          
the obligations assumed by the Issuer in this Agreement and the Amended Debenture are legal, valid, and enforceable obligations
binding on it in accordance with its terms;

 

(d)         
Neither YA II nor any YA Party is an “affiliate” of the Issuer and none of them has been an “affiliate”
of the Issuer at any time during the 90 days immediately preceding the Effective Date;

 

(e)          
Neither YA II nor any YA Party has paid or given any monetary consideration to the Issuer in connection with this Agreement or the issuance
of the Amended Debenture;

 

     

     

    

 

(f)           
For purposes of Rule 144 as promulgated under the Securities Act of 1933, as amended (the “Securities Act”), the Amended
Debenture was issued on the date of the issuance of the Original Debenture; namely, October 25, 2021;

 

(g)          
Immediately upon the Issuer’s filing all Initial Periodic Reports, YA II shall be eligible to sell the Underlying Shares (as defined
in the Amended Debenture) in accordance with Rule 144. Within three (3) business days of each conversion of the Amended Debenture by YA
II, the Issuer shall cause its legal counsel to issue to the Issuer’s transfer agent and/or to YA II one or more legal opinions
under which such legal counsel opines that the Underlying Shares may be issued to YA II without restrictive legends and/or any restrictive
legends on any Common Shares held by YA II from the conversion of the Debenture or the Amended Debenture may be removed upon YA II’s
sale of the Underlying Shares, all in accordance with applicable laws and regulations, including Rule 144 promulgated under the Securities
Act.

 

The Issuer has authority to issue to
YA II upon conversion of the Amended Debenture not less than 98,369,977 shares of Common Stock (the “Designated Shares”)
in accordance Nasdaq Rule 5635(d) without the necessity of obtaining stockholder approval for the Company’s issuance of the Designated
Shares to YA II upon conversion of the Amended Debenture.

 

5.           
Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of
New York, without giving effect to conflicts of laws thereof. Each of the parties’ consents to the jurisdiction of the Courts of
the State of New York sitting in New York County, New York and the U.S. District Court for the Southern District of New York sitting in
New York County, New York in connection with any dispute arising under this Agreement and hereby waives, to the maximum extent permitted
by law, any objection, including any objection based on forum non conveniens to the bringing of any such proceeding in such jurisdictions.

 

6.           
Fees and Expenses. If the Issuer fails to strictly comply with the terms of this Agreement, then the Issuer shall reimburse
YA II promptly for all fees, costs and expenses, including, without limitation, attorneys’ fees and expenses incurred by YA II in
any action in connection with this Agreement, including, without limitation, those incurred: (i) during any workout, attempted workout,
and/or in connection with the rendering of legal advice as to YA II’s rights, remedies and obligations, (ii) collecting any sums
which become due to YA II, (iii) defending or prosecuting any proceeding or any counterclaim to any proceeding or appeal; or (iv) the
protection, preservation or enforcement of any rights or remedies of YA II.

 

7.           
No Waiver. Any waiver by YA II of a breach of any provision of this Agreement shall not operate as or be construed to
be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of YA II to insist
upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of
the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. Any waiver must be in writing.

 

     

     

    

 

8.             Savings
Provision. If any provision of this Agreement is invalid, illegal or unenforceable, the balance of this Agreement shall remain
in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other
persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder shall violate
applicable laws governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum
permitted rate of interest. The Issuer covenants (to the extent that it may lawfully do so) that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law
which would prohibit or forgive the Issuer from paying all or any portion of the principal of or interest on this Agreement as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance
of this indenture, and the Issuer (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any
such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein
granted to YA II, but will suffer and permit the execution of every such as though no such law has been enacted.

 

9.            
Counterparts and delivery. 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.

 

10.         
WAVIER OF JURY TRIAL. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A
TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT AND THE AMENDED
DEBENTURE OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR THE PARTIES’ ACCEPTANCE OF THIS AGREEMENT AND THE AMENDED DEBENTURE.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

     

     

    

 

IN WITNESS WHEREOF, the Issuer
and YA II have caused this Agreement to be signed by their duly authorized officers.

 

	 	IDEANOMICS,
    INC.
	 	
	 	By:	/s/ Alfred P. Poor
	 	Name:   	Alfred P. Poor
	 	Title: 	Chief Executive Officer

 

	 	YA
    II PN, LTD.
	 	 
	 	By:	Yorkville
    Advisors Global, LP
	 	Its:	Investment
    Manager
	 	 	 
	 	 	By:	Yorkville
    Advisors Global II, LLC
	 	 	Its:	General
    Partner
	 	 	 
	 	By:	/s/
    Troy Rillo
	 	Name:  	Troy
    Rillo
	 	Title:	MemberExhibit
10.2

 

IDEANOMICS,
INC.

 

AMENDED
AND RESTATED CONVERTIBLE DEBENTURE

 

	Amended
    Principal Amount:	$16,717,808.55
	(Original
    Principal Amount):	$75,000,000.00
	 	 
	Reissuance
    Date:	August
    29, 2022
	(Original
    Issuance Date):	October
    25, 2021
	 	 
	Debenture
    Number:	IDEX-102421/A

 

FOR
VALUE RECEIVED, IDEANOMICS, INC., a Nevada corporation (the “Company”), hereby promises to pay to the order of
YA II PN, LTD., or its registered assigns (the “Holder ”), the amount set out above as the Amended Principal
Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise, the “Principal”)
when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the
terms hereof) and to pay interest (“ Interest”) on any outstanding Principal at the applicable Interest Rate from
the date set out above as of the Reissuance Date (the “Issuance Date”) until the same becomes due and payable, whether
upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof). Certain
capitalized terms used herein are defined in Section 17. This Debenture is being issued pursuant to that certain Amendment Agreement
(the “Amendment Agreement”) of even date herewith between the Company and the Holder. This Debenture amends and restates
the original Convertible Debenture (No. IDEX-102421) (the “Original Debenture”) in the Original Principal Amount of
$75.0 million issued by the Company to the Holder. The Company acknowledges and agrees that the Amended Principal Amount reflects the
outstanding balance on the Original Debenture (without any adjustment) as of the Reissuance Date and that the Company has not received
any monetary consideration from the Holder or any other person or entity in connection with this Debenture.

 

(1)           GENERAL
TERMS

 

(a)
Maturity Date. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal,
accrued and unpaid Interest, and any other amounts outstanding pursuant to the terms of this Debenture. The “Maturity Date”
shall be January 29, 2023.

 

(b)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Amended Principal Amount hereof at an annual rate
equal to 4% (“Interest Rate”); provided that such Interest Rate shall be increased to 18% upon an Event of
Default. Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by
applicable law.

 

(c)
No Right of Prepayment. The Company shall not have the right to prepay any amounts due under this Debenture prior to the Maturity
Date without the Holder’s prior written consent, which may be given or withheld by the Holder’s sole and exclusive discretion.

 

     

     

    

 

(2)           EVENTS
OF DEFAULT.

 

(a)
An “Event of Default”, wherever used herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any
order, rule or regulation of any administrative or governmental body):

 

(i)
           the Company’s failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Debenture;

 

(ii)
          The Company or any subsidiary of the Company shall commence, or there shall be commenced against the Company or any subsidiary of the
Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Company or
any subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors,
dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Company
or any subsidiary of the Company or there is commenced against the Company or any subsidiary of the Company any such bankruptcy, insolvency
or other proceeding which remains undismissed for a period of 61 days; or the Company or any subsidiary of the Company is adjudicated
insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Company or any
subsidiary of the Company suffers any appointment of any custodian, private or court appointed receiver or the like for it or any substantial
part of its property which continues undischarged or unstayed for a period of sixty one (61) days; or the Company or any subsidiary of
the Company makes a general assignment for the benefit of creditors; or the Company or any subsidiary of the Company shall fail to pay,
or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Company or any subsidiary
of the Company shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts;
or the Company or any subsidiary of the Company shall by any act or failure to act expressly indicate its consent to, approval of or
acquiescence in any of the foregoing; or any corporate or other action is taken by the Company or any subsidiary of the Company for the
purpose of effecting any of the foregoing;

 

(iii)
           The Company or any subsidiary of the Company shall default beyond applicable grace and cured periods (if any) in any of its obligations
under any other debenture or any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument
under which there may be issued, or by which there may be secured or evidenced any indebtedness for borrowed money or money due under
any long term leasing or factoring arrangement of the Company or any subsidiary of the Company in an amount exceeding $5,000,000, whether
such indebtedness now exists or shall hereafter be created and such default shall result in such indebtedness becoming or being declared
due and payable and such default is not thereafter cured within fifteen (15) Business Days;

 

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(iv)
           The Common Stock shall cease to be quoted or listed for trading, fail to have a bid price or VWAP, or fail to maintain a trading market
on any Primary Market, for a period of 10 consecutive Trading Days;

 

(v)
           The Company or any subsidiary of the Company shall be a party to any Change of Control Transaction (as defined in Section 17) unless
in connection with such Change of Control Transaction this Debenture is retired; provided, however, that neither of the following shall
constitute a Change of Control (i) the sale of Timios; and (ii) the sale of any subsidiary of the Company to the Holder or any affiliate
of the Holder;

 

(vi)
           the Company’s (A) failure to cure a Conversion Failure by delivery
of (I) the required number of shares of Common Stock or (II) the Buy-In Price within five (5) Business Days after the
applicable Conversion Failure or (B) notice, written or oral, to any holder of the Debenture, including by way of public
announcement, at any time, of its intention not to comply with a request for conversion of any Debenture into shares of Common Stock
that is tendered in accordance with the provisions of the Debenture, other than pursuant to Section 3(c);

 

(vii)
           The Company shall fail for any reason to deliver the payment in cash pursuant to a Buy-In (as defined herein) within five (5) Business
Days after such payment is due;

 

(viii)
           The Company’s failure to file with the Commission (any Periodic Report (as defined herein) on or before the due date of such filing
as established by the Commission. For purposes hereof, “Periodic Reports” means the Issuer’s (i) Quarterly Report
on Form 10-Q for the fiscal quarter ending September 30, 2022, (ii) Annual Report on Form 10-K for the fiscal year ending December 31,
2022, and (iii) all other reports required to be filed by the Issuer with the Commission under applicable laws and regulations (including,
without limitation, Regulation S-K) for so long as any amounts are outstanding under this Debenture; provided that all such Periodic
Reports shall include, when filed, all information, financial statements, audit reports (when applicable) and other information required
to be included in such Periodic Reports in compliance with all applicable laws and regulations;

 

(ix)
           If by September 13, 2022 or on any date thereafter, for any reason whatsoever, the Holder is unable to effect sales of the Underlying
Shares in reliance on Rule 144 promulgated under the Securities Act of 1933 or the Company or its legal counsel are unable or unwilling
to render legal opinions in accordance with Section 4(g) of the Amendment Agreement (even if such basis for being unable or unwilling
to render such opinions is based on its interpretation of Rule 144; it being a material inducement to the Holder that it be able to effect
sales of the Underlying Shares in reliance on Rule 144 commencing on September 13, 2022; or

 

(x)
           The Company shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit any
material breach or default of any provision of this Debenture (except as may be covered by Section 2(a)(i) through 2(a)(ix) hereof) or
any Transaction Document (as defined in Section 17) which is not cured within the time prescribed (if any).

 

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(b)
During the time that any portion of this Debenture is outstanding, if any Event of Default has occurred, the full unpaid Principal amount
of this Debenture, together with interest and other amounts owing in respect thereof, to the date of acceleration shall become at the
Holder’s election given by notice pursuant to Section 7, immediately due and payable in cash. Furthermore, in addition to any other
remedies, the Holder shall have the right (but not the obligation) to convert this Debenture (subject to the limitations set out in Section
3(c) at any time after (x) an Event of Default or (y) the Maturity Date at the Conversion Price. The Holder need not provide and the
Company hereby waives any presentment, demand, protest or other notice of any kind, (other than the required notice of conversion) and
the Holder may immediately enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable
law. Such declaration may be rescinded and annulled by Holder at any time prior to payment hereunder. No such rescission or annulment
shall affect any subsequent Event of Default or impair any right consequent thereon.

 

(3)
CONVERSION OF DEBENTURE. This Debenture shall be convertible into shares of the Company’s Common Stock, on the terms and
conditions set forth in this Section 3.

 

(a)
Conversion Right. Subject to the provisions of this Section 3(c), at any time or times on or after the Issuance Date, the Holder
shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into fully paid and nonassessable
shares of Common Stock, at the Conversion Rate (as defined below). The number of shares of Common Stock issuable upon conversion of any
Conversion Amount pursuant to this Section 3(a) shall be determined by dividing (x) such Conversion Amount by (y) the Conversion Price
(the “Conversion Rate”). The Company shall not issue any fraction of a share of Common Stock upon any conversion.
If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share
of Common Stock up or down to the nearest whole share. The Company shall pay any and all transfer, stamp and similar taxes that may be
payable with respect to the issuance and delivery of Common Stock upon conversion of any Conversion Amount.

 

(i)
           “Conversion Amount” means the portion of the Principal converted, redeemed or otherwise with respect to which
this and
accrued Interest to be determination is being made.

 

(ii)
 “          Conversion Price” means, as of any Conversion Date (as defined below) or other date of determination, the lower of
(y) $1.50 (the “Fixed Conversion Price”) or (z) 85% of the lowest daily VWAP during the 7 consecutive Trading Days
immediately preceding the Conversion Date or other date of determination (the “Variable Conversion Price”), but not
lower than $0.20 per share of Common Stock. The Conversion Price shall be adjusted from time to time pursuant to the other terms and
conditions of this Debenture.

 

    4

     

    

 

(b)
Mechanics of Conversion.

 

(i)
           Optional Conversion. To convert any Conversion Amount into shares
of Common Stock on any date (a “Conversion Date”), the Holder shall (A) transmit by email or facsimile with
confirmation of delivery (or otherwise deliver by method set forth in Section 7), for receipt on or prior to 11:59 p.m., New
York Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the
 “Conversion Notice”) to the Company and (B) if required by Section 3(b)(iii), surrender this Debenture to a
nationally recognized overnight delivery service for delivery to the Company (or an indemnification undertaking reasonably
satisfactory to the Company with respect to this Debenture in the case of its loss, theft or destruction). On or before the third
(3rd ) Business Day following the date of receipt of a Conversion Notice (the “Share Delivery Date”),
the Company shall (X) if legends are not required to be placed on certificates of Common Stock and provided that the Transfer Agent
is participating in the Depository Trust Company’s (“DTC”) Fast Automated Securities Transfer Program,
credit such aggregate number of shares of Common Stock to which the Holder shall be entitled 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 deliver to the address as specified in the Conversion
Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the
Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant to rules and regulations
of the Commission. If this Debenture is physically surrendered for conversion and the outstanding Principal of this Debenture is
greater than the Principal portion of the Conversion Amount being converted, then the Company shall as soon as practicable and in no
event later than three (3) Business Days after receipt of this Debenture and at its own expense, issue and deliver to the holder a
new Debenture representing the outstanding Principal not converted. The Person or Persons entitled to receive the shares of Common
Stock issuable upon a conversion of this Debenture shall be treated for all purposes as the record holder or holders of such shares
of Common Stock upon the transmission of a Conversion Notice.

 

(ii)
           Company’s Failure to Timely Convert. If within three (3) Trading Days after the Company’s receipt of a copy of a Conversion
Notice the Company shall fail to issue and deliver a certificate to the Holder or credit the Holder’s balance account with DTC
for the number of shares of Common Stock to which the Holder is entitled upon such holder's conversion of any Conversion Amount (a “Conversion
Failure”), and if on or after such Trading Day the Holder purchases (in an open market transaction or otherwise) Common Stock
to deliver in satisfaction of a sale by the Holder of Common Stock issuable upon such conversion that the Holder anticipated receiving
from the Company (a “Buy-In”), then the Company shall, within three (3) Business Days after the Holder’s request
and in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price
(including brokerage commissions and other out of pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In
Price”), at which point the Company’s obligation to deliver such certificate (and to issue such Common Stock) shall terminate,
or (ii) promptly honor its obligation to deliver to the Holder a certificate or certificates representing such Common Stock and pay cash
to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock,
times (B) the Closing Bid Price on the Conversion Date.

 

(iii)
           Book-Entry. Notwithstanding anything to the contrary set forth
herein, upon conversion of any portion of this Debenture in accordance with the terms hereof, the Holder shall not be required to
physically surrender this Debenture to the Company unless (A) the full Conversion Amount represented by this Debenture is being
converted or (B) the Holder has provided the Company with prior written notice (which notice may be included in a Conversion Notice)
requesting reissuance of this Debenture upon physical surrender of this Debenture. The Holder and the Company shall maintain records
showing the Principal and Interest converted and the dates of such conversions or shall use such other method, reasonably
satisfactory to the Holder and the Company, so as not to require physical surrender of this Debenture upon conversion.

 

    5

     

    

 

(c)
Limitations on Conversions.

 

(i)
           Beneficial Ownership. The Holder shall not have the right to convert any portion of this Debenture or receive shares of Common
Stock as payment of Interest hereunder to the extent that after giving effect to such conversion or receipt of such Interest payment,
the Holder, together with any affiliate thereof, would beneficially own (as determined in accordance with Section 13(d) of the Exchange
Act and the rules promulgated thereunder) in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving
effect to such conversion or receipt of shares as payment of interest. Since the Holder will not be obligated to report to the Company
the number of shares of Common Stock it may hold at the time of a conversion hereunder, unless the conversion at issue would result in
the issuance of shares of Common Stock in excess of 4.99% of the then outstanding shares of Common Stock without regard to any other
shares which may be beneficially owned by the Holder or an affiliate thereof, the Holder shall have the authority, responsibility and
obligation to determine whether the restriction contained in this Section will limit any particular conversion hereunder and to the extent
that the Holder determines that the limitation contained in this Section applies, the determination of which portion of the Principal
amount of this Debenture is convertible shall be the responsibility and obligation of the Holder. The provisions of this Section may
be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 65 days prior notice to the Company. Other
Holders shall be unaffected by any such waiver.

 

(d)
Other Provisions.

 

(i)
           The Company shall at all times reserve and keep available out of its authorized Common Stock the full number of shares of Common Stock
issuable upon conversion of all outstanding amounts under this Debenture; and within three (3) Business Days following the receipt by
the Company of a Holder’s notice that such minimum number of Underlying Shares is not so reserved, the Company shall promptly reserve
a sufficient number of shares of Common Stock to comply with such requirement.

 

(ii)
           All calculations under this Section 3 shall be rounded to the nearest $0.0001 or whole share.

 

(iii)
           The Company covenants that it will at all times reserve and keep available out of its authorized and unissued shares of Common Stock
solely for the purpose of issuance upon conversion of this Debenture and payment of Interest on this Debenture, each as herein provided,
free from preemptive rights or any other actual contingent purchase rights of persons other than the Holder, not less than such number
of shares of the Common Stock as shall be issuable (taking into account the adjustments and restrictions set forth herein) upon the conversion
of the outstanding principal amount of this Debenture and payment of Interest hereunder. The Company covenants that all shares of Common
Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid, nonassessable.

 

    6

     

    

 

(iv)
           Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 2 herein
for the Company’s failure to deliver certificates representing shares of Common Stock upon conversion within the period specified
herein and such Holder 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, in each case without the need to post a bond or provide other security. The
exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under
applicable law.

 

(v)
          Conversion Costs. The Company is obligated to cause its legal counsel to deliver legal opinions to the Company’s transfer
agent and the Holder pursuant to Section 4(g) of the Amendment Agreement. To the extent that are not provided (either timely or at all),
then, in addition to being an Event of Default hereunder, the Company agrees to reimburse the Holder for all reasonable costs incurred
by the Holder in connection with any legal opinions paid for by the Holder in connection with sale of Underlying Shares of Common Stock.
The Holder shall notify the Company of any such costs and expenses it incurs that are referred to in this section from time to time and
all amounts owed hereunder shall be paid by the Company with reasonable promptness.

 

(e)
Adjustments to Conversion Price upon Subdivision or Combination of Common Stock. If the Company at any time after the Issuance
Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of
Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will be proportionately
reduced and the number of shares of Common Stock obtainable upon conversion of this Debenture will be proportionately increased. If the
Company at any time after the Issuance Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding
shares of Common Stock into a smaller number of shares, any Conversion Price in effect immediately prior to such combination will be
proportionately increased and the number of shares of Common Stock issuable upon exercise of this Warrant will be proportionately decreased.
Any adjustment under this Section 3(e) shall become effective at the close of business on the date the subdivision or combination becomes
effective.

 

(f)
Notification of Adjustment. Whenever the Conversion Price is adjusted pursuant to Section 3 hereof, the Company shall promptly
send the Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring
such adjustment.

 

    7

     

    

 

(4)       INDEMNIFICATION.

 

With
respect to the Company’s obligations under this Debenture and the Amendment Agreement:

 

To
the fullest extent permitted by law, the Company shall, and hereby does, indemnify, hold harmless and defend the Holder, its
investment manager and their respective directors, officers, partners, employees, agents, representatives, and successors and
assigns of, and each Person, if any, who controls Holder within the meaning of the Securities Act or the Exchange Act (each,
an “Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges,
costs, reasonable attorneys’ fees, 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 party 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 any filing made in any public filing (including, without limitation, any Periodic
Reports) made by the Company with the SEC, 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; or (ii) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act, any other law, including, without limitation, any state securities law (the matters in the
foregoing clauses (i) through (iii) being, collectively, “Violations”). The Company shall reimburse the
Indemnified Persons and each such controlling person promptly as such expenses are incurred and are due and payable, for any legal
fees or disbursements or other reasonable expenses incurred by them in connection with investigating or defending any such
Claim.

 

Promptly
after receipt by an Indemnified Person or Indemnified Party under this Section 4 of notice of the commencement of any action or
proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 4, 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, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with
the fees and expenses of not more than one (1) counsel for such Indemnified Person or Indemnified Party to be paid by the
indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel
of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such
proceeding. The Indemnified Party or Indemnified Person shall cooperate fully 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 which relates to such action or claim. The
indemnifying party shall keep the Indemnified Party or Indemnified Person fully 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, that 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, 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 of a release from all liability in respect to such claim or litigation. Following indemnification as provided for
hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person 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 under this Section 4, except to the extent that
the indemnifying party is prejudiced in its ability to defend such action.

 

    8

     

    

 

The
indemnification required by this Section 4 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.

 

The
indemnity 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.

 

(5)
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 4 to the fullest
extent permitted by law.

 

(6)       REISSUANCE
OF THIS DEBENTURE.

 

(a)
Transfer. If this Debenture is to be transferred, the Holder shall surrender this Debenture to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Debenture (in accordance with Section 6(d)), registered in the name
of the registered transferee or assignee, representing the outstanding Principal being transferred by the Holder (along with any accrued
and unpaid interest thereof) and, if less then the entire outstanding Principal is being transferred, a new Debenture (in accordance
with Section 6(d)) to the Holder representing the outstanding Principal not being transferred. The Holder and any assignee, by acceptance
of this Debenture, acknowledge and agree that, by reason of the provisions of Section 3(c)(iii) following conversion or redemption of
any portion of this Debenture, the outstanding Principal represented by this Debenture may be less than the Principal stated on the Amended
Principal Amount of this Debenture.

 

(b)
Lost, Stolen or Mutilated Debenture. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Debenture, and, in the case of loss, theft or destruction, of any indemnification undertaking
by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Debenture, the
Company shall execute and deliver to the Holder a new Debenture (in accordance with Section 6(d)) representing the outstanding Principal.

 

(c) Debenture
Exchangeable for Different Denominations. This Debenture is exchangeable, upon the surrender hereof by the Holder at the
principal office of the Company, for a new Debenture or Debentures (in accordance with Section 6(d)) representing in the
aggregate the outstanding Principal of this Debenture, and each such new Debenture will represent such portion of such outstanding
Principal as is designated by the Holder at the time of such surrender.

 

    9

     

    

 

(d)
Issuance of New Debentures. Whenever the Company is required to issue a new Debenture pursuant to the terms of this Debenture,
such new Debenture (i) shall be of like tenor with this Debenture, (ii) shall represent, as indicated on the Amended Principal Amount
of such new Debenture, the Principal remaining outstanding (or in the case of a new Debenture being issued pursuant to Section 6(a) or
Section 6(c), the Principal designated by the Holder which, when added to the principal represented by the other new Debentures issued
in connection with such issuance, does not exceed the Principal remaining outstanding under this Debenture immediately prior to such
issuance of new Debentures), (iii) shall have an issuance date, as indicated on the Amended Principal Amount of such new Debenture, which
is the same as the Issuance Date of this Debenture, (iv) shall have the same rights and conditions as this Debenture, and (v) shall represent
accrued and unpaid Interest from the Issuance Date.

 

(7) NOTICES
.. Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in writing
and will be deemed to have been delivered: upon the later of (A) either (i) receipt, when delivered personally or (ii) 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 and (B) receipt, when sent by e-mail. The addresses and e-mail addresses for such communications shall
be:

 

	If
    to the Company, to:	Ideanomics,
    Inc.
	 	1441
    Broadway, Suite #5116
	 	New
    York NY 10018
	 	Telephone:
    212-206-1216
	 	Attention:
    Chief Executive Officer
	 	E-Mail:
    apoor@ideanomics.com
	 	 
	If
    to the Holder:	YA
    II PN, Ltd
	 	c/o
    Yorkville Advisors Global, LLC
	 	1012
    Springfield Avenue
	 	Mountainside,
    NJ 07092
	 	Attention:
    Mark Angelo
	 	Telephone:
    201-985-8300
	 	Email:
    Legal@yorkvilleadvisors.com

 

or
at such other address and/or e-mail address and/or to the attention of such other person as the recipient party has specified by written
notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (i)
given by the recipient of such notice, consent, waiver or other communication, (ii) electronically generated upon sending the e-mail
or (iii) provided by a nationally recognized overnight delivery 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.

 

    10

     

    

 

(8)
Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligations of the Company, which are absolute
and unconditional, to pay the principal of, interest and other charges (if any) on, this Debenture at the time, place, and rate, and
in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company.

 

(9)
This Debenture shall not entitle the Holder to any of the rights of a stockholder of the Company, including without limitation, the right
to vote, to receive dividends and other distributions, or to receive any notice of, or to attend, meetings of stockholders or any other
proceedings of the Company, unless and to the extent converted into shares of Common Stock in accordance with the terms hereof.

 

(10)
After the Issuance Date, without the Holder’s consent, the Company will not and will not permit any of their subsidiaries to, directly
or indirectly, enter into, create, incur, assume or suffer to exist any indebtedness of any kind, on or with respect to any of its property
or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom that is senior in any respect to
the obligations of the Company under this Debenture.

 

(11)
This Debenture shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflicts
of laws thereof. Each of the parties consents to the jurisdiction of the Courts of the State of New York sitting in New York County,
New York and the U.S. District Court for the Southern District of New York sitting in New York County, New York in connection with any
dispute arising under this Debenture and hereby waives, to the maximum extent permitted by law, any objection, including any objection
based on forum non conveniens to the bringing of any such proceeding in such jurisdictions.

 

(12)
If the Company fails to strictly comply with the terms of this Debenture and/or the Amendment Agreement, then the Company shall reimburse
the Holder promptly for all fees, costs and expenses, including, without limitation, attorneys’ fees and expenses incurred by the
Holder in any action in connection with this Debenture and/or the Amendment Agreement, including, without limitation, those incurred:
(i) during any workout, attempted workout, and/or in connection with the rendering of legal advice as to the Holder’s rights, remedies
and obligations, (ii) collecting any sums which become due to the Holder, (iii) defending or prosecuting any proceeding or any counterclaim
to any proceeding or appeal; or (iv) the protection, preservation or enforcement of any rights or remedies of the Holder.

 

(13)
Any waiver by the Holder of a breach of any provision of this Debenture shall not operate as or be construed to be a waiver of any other
breach of such provision or of any breach of any other provision of this Debenture. The failure of the Holder to insist upon strict adherence
to any term of this Debenture on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter
to insist upon strict adherence to that term or any other term of this Debenture. Any waiver must be in writing.

 

    11

     

    

 

(14)
If any provision of this Debenture is invalid, illegal or unenforceable, the balance of this Debenture shall remain in effect, and
if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and
circumstances. If it shall be found that any interest or other amount deemed interest due hereunder shall violate applicable laws
governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum permitted
rate of interest. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would
prohibit or forgive the Company from paying all or any portion of the principal of or interest on this Debenture as contemplated
herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this
indenture, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law,
and covenants that it will not, by resort to any such law, hinder, delay or impeded the execution of any power herein granted to the
Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

 

(15)
Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the
next succeeding Business Day.

 

(16)
THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION DOCUMENT OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES’
ACCEPTANCE OF THIS AGREEMENT.

 

(17)
CERTAIN DEFINITIONS. For purposes of this Debenture, the following terms shall have the following meanings:

 

 (a) “Bloomberg” means Bloomberg Financial Markets.

 

(b)
 “Business Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday in
the United States or a day on which banking institutions are authorized or required by law or other government action to close.

 

(c)
 “Change of Control Transaction” means the occurrence of (a) an acquisition after the Issuance Date by an
individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective
control (whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of
fifty percent (50%) of the voting securities of the Company (except that the acquisition of voting securities by the Holder or any
other current holder of convertible securities of the Company shall not constitute a Change of Control Transaction for purposes
hereof), (b) a replacement at one time or over time of more than one-half of the members of the board of directors of the Company
(other than as due to the death or disability of a member of the board of directors) which is not approved by a majority of those
individuals who are members of the board of directors on the Issuance Date (or by those individuals who are serving as members of
the board of directors on any date whose nomination to the board of directors was approved by a majority of the members of the board
of directors who are members on the Issuance Date), (c) the merger, consolidation or sale of fifty percent (50%) or more of the
assets of the Company or any subsidiary of the Company in one or a series of related transactions with or into another entity,
or (d) the execution by the Company of an agreement to which the Company is a party or by which it is bound, providing for any of
the events set forth above in (a), (b) or (c). No transfer to a wholly-owned subsidiary shall be deemed a Change of Control
Transaction under this provision.

 

    12

     

    

 

(d)
 “Closing Bid Price” means the price per share in the last reported trade of the Common Stock on a Primary Market or
on the exchange which the Common Stock is then listed as quoted by Bloomberg.

 

(e)
 “Convertible Securities” means any stock or securities (other than Options) directly or indirectly convertible into
or exercisable or exchangeable for Common Stock.

 

 (f) “Commission” means the U.S. Securities and Exchange Commission.

 

(g)
 “Common Stock” means the common stock, par value $0.001, of the Company and stock of any other class into
which such shares may hereafter be changed or reclassified.

 

(h)
 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(i)
 “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

 

(j)
 “Person” means a corporation, an association, a partnership, organization, a business, an individual, a government
or political subdivision thereof or a governmental agency.

 

(k)
 “Primary Market” means any of the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Market, the Nasdaq Global
Select Market, the Nasdaq Capital Market, or the OTC QB, and any successor to any of the foregoing markets or exchanges.

 

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

 

(m)
 “Trading Day” means a day on which the shares of Common Stock are quoted or traded on a Primary Market on which the
shares of Common Stock are then quoted or listed; provided, that in the event that the shares of Common Stock are not listed or quoted,
then Trading Day shall mean a Business Day.

 

(n)
 “Transaction Documents” means any existing or future agreement between the Company and the Holder, including without
limitation the Amendment Agreement.

 

(o)
 “Underlying Shares” means the shares of Common Stock issuable upon conversion of this Debenture or as payment of interest
in accordance with the terms hereof.

 

(p)
 “VWAP” means, for any security as of any date, the daily dollar volume-weighted average price for such security on
the Primary Market during regular trading hours as reported by Bloomberg LP through its “Historical Prices – Px Table with
Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg.

 

    13

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Convertible Debenture to be duly executed by a duly authorized officer as of the date
set forth above.

 

	 	COMPANY:
	 	IDEANOMICS,
    INC.
	 	
	 	By:	/s/ Alfred P. Poor
	 	Name:   	Alfred P. Poor
	 	Title: 	Chief Executive Officer

 

     

     

    

 

EXHIBIT
A

CONVERSION
NOTICE

 

(To
be executed by the Holder in order to Convert the Debenture)

 

TO:

 

The
undersigned hereby irrevocably elects to convert $______________________________ of the outstanding balance of Debenture No.
IDEX-101421/A into Shares of Common Stock of IDEANOMICS, INC., according to the conditions stated therein, as of the
Conversion Date written below.

 

	Conversion
    Date:	 

 

	Conversion
    Amount to be converted: 	$	 

 

	Conversion
    Price: 	$	 

 

	Number
    of shares of Common Stock to be issued:	 

 

Please
issue the shares of Common Stock in the following name and to the following address:

 

Issue to:

 

	Authorized Signature:	 
	 	 

	Name:	 
	 	 

	Title:	 

 

Broker
DTC Participant Code:

 

Account
Number:

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