Document:

Exhibit 10.1

 

 

  

SEVERANCE
AGREEMENT

 

AND
GENERAL RELEASE OF ALL CLAIMS

 

 

 

	to:	Sachin Barot
	 	 
	FROM:	David Moradi, on behalf of AudioEye, Inc.
	 	 
	SUBJECT:	Severance Agreement and General Release of All Claims
	 	 
	DATE:	May 19, 2021

 

 

 

On March 9, 2021, pursuant
to the Employment Agreement by and between AudioEye, Inc. (“AudioEye”) and you effective May 16, 2019 (the “Employment
Agreement”), you were notified that the Term of your Employment Agreement (as defined in the Employment Agreement) would not
renew and would expire on May 15, 2021. Your employment terminated on May 17, 2021 (the “Separation Date”). You and
AudioEye have now agreed to the terms related to your separation of employment, including AudioEye making a severance payment available
to you (the “Severance Benefits”), subject to the terms of this Severance Agreement and General Release of All Claims
(the “Agreement”).

 

1.                 
Severance Benefits and Health Care Continuation. If you sign and deliver this Agreement to me within 21 days after you receive
this Agreement, and you do not revoke the Agreement within seven calendar days thereafter, and you have not breached any obligations under
this Agreement or the Employment Agreement, then AudioEye will provide you with the following:

 

a.     
AudioEye will pay you $125,000, less applicable deductions and withholdings. AudioEye will make this payment to you within
30 days after this Agreement becomes irrevocable.

 

b.     
To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current
group health insurance policies, you will be eligible to continue your group health insurance benefits. If you timely elect continued
coverage under COBRA, the Company will pay your COBRA premiums necessary to continue your coverage (including coverage for eligible dependents,
if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) beginning on June
1, 2021 and ending on the earliest to occur of: (i) November 30, 2021; (ii) the date you and your eligible dependents, if applicable,
become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation
coverage for any reason, including plan termination. In the event you become covered under another employer’s group health plan
or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event.

 

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		2.	Continuing Obligations.

 

a.     
By signing this Agreement, you acknowledge entering into the Employment Agreement and that you received material consideration
in exchange for your entering into the Employment Agreement. You affirm your understanding of, and commitment to abide by, all of your
obligations under the Employment Agreement that survive the Separation Date, including without limitation each of your obligations under
Section 12 and 13 of the Employment Agreement.

 

b.     
After the Separation Date and ending on November 17, 2021, you will provide transition assistance related to your job duties
and responsibilities and reasonable cooperation to the Company with regard to legal, administrative, and other matters with which you
were involved while employed by the Company, including making yourself available to answer questions from time-to-time. Although we do
not expect that such assistance and cooperation will be of a magnitude that you incur expenses, if you do, the Company will reimburse
you for all reasonable expenses that you incur in providing such assistance and cooperation.

 

		3.	General Release and Waiver of Claims.

 

a.     
Release and Waiver by You. In exchange for the consideration provided in this Agreement, you and your heirs, executors,
representatives, administrators, agents, and assigns (collectively, the "Releasors") irrevocably and unconditionally
fully and forever waive, release, and discharge AudioEye, its affiliates, predecessors, successors, assigns, and present and past employee
benefit plans sponsored or maintained by AudioEye, and each of its and their respective present and past officers, directors, employees,
attorneys, and fiduciaries, in their corporate and individual capacities (collectively, the "Released Parties"), from
any and all claims, demands, actions, causes of actions, judgments, rights, fees, damages, debts, obligations, liabilities, and expenses
(inclusive of attorneys’ fees) of any kind whatsoever, whether known or unknown, (collectively, "Claims") that
Releasors may have or have ever had against the Released Parties, or any of them, arising out of, or in any way related to (x) your hire,
compensation, benefits, employment, termination, or separation from employment with AudioEye, or (y) any other matter, in all cases by
reason of any actual or alleged act, omission, transaction, practice, conduct, or occurrence from the beginning of time up to and including
the date of your execution of this Agreement, including, but not limited to:

 

(i) any and
all Claims under Title VII of the Civil Rights Act of 1964 (Title VII), the Americans with Disabilities Act (ADA), the Family and Medical
Leave Act (FMLA) (regarding existing but not prospective claims), the Equal Pay Act, the Employee Retirement Income Security Act (ERISA)
(regarding unvested benefits), the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Fair Credit Reporting Act (FCRA), the
Worker Adjustment and Retraining Notification (WARN) Act, the Age Discrimination in Employment Act (ADEA), the Uniform Services Employment
and Reemployment Rights Act (USERRA), the Genetic Information Nondiscrimination Act (GINA), the Immigration Reform and Control Act (IRCA), the
Arizona wage laws, the Arizona equal pay laws, the Arizona Employment Protection Act, the Arizona Civil Rights Act, the Arizona Occupational
Health and Safety Act, the Arizona right to work laws, the Arizona employee drug testing laws, the Arizona Medical Marijuana Act, the
Arizona genetic testing laws, and all state or local whistleblower protection statutes, codes,
or regulation, all including any amendments and their respective implementing regulations, and any other federal, state, local,
or foreign law (statutory, regulatory, or otherwise) that may be legally waived and released; however, the identification of specific
statutes is for purposes of example only, and the omission of any specific statute or law shall not limit the scope of this general release
in any manner;

 

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(ii) any and
all Claims arising out of or relating to any agreements (whether express or implied) to which you and AudioEye are parties, including
without limitation any claims to any severance or other compensation under the Employment Agreement and any claims arising out of the
Plan (as defined below) and any related award agreements;

 

(iii) any and
all Claims for compensation (other than already earned compensation) of any type whatsoever, including but not limited to claims for salary,
wages, bonuses, commissions, equity, restricted stock units, incentive compensation, vacation, and severance that may be legally
waived and released;

 

(iv) any and
all Claims arising under tort, contract, and quasi-contract law, including but not limited to claims of breach of an express or implied
contract, tortious interference with contract or prospective business advantage, breach of the covenant of good faith and fair dealing,
promissory estoppel, detrimental reliance, invasion of privacy, nonphysical injury, personal injury or sickness or any other harm, wrongful
or retaliatory discharge, fraud, defamation, slander, libel, false imprisonment, and negligent or intentional infliction of emotional
distress; and

 

(v) any and
all Claims for monetary or equitable relief, including but not limited to attorneys’ fees, back pay (except that which has already
been earned), front pay, reinstatement, experts' fees, medical fees or expenses, costs and disbursements, punitive damages, liquidated
damages, and penalties.

 

You
are hereby acknowledge that the Claims released above including Claims of which you may not be aware or do not suspect at the time you
sign this Agreement.

 

b.
Specific Release of ADEA Claims by You. In further consideration of the payments and benefits provided to you in this Agreement,
the Releasors hereby irrevocably and unconditionally fully and forever waive, release, and discharge the Released Parties from any and
all Claims, whether known or unknown, from the beginning of time through the date of your execution of this Agreement arising
under the Age Discrimination in Employment Act (ADEA) and the Older Workers Benefit Protection Act, and the implementing regulations.
By signing this Agreement, you hereby acknowledge and confirm that:

 

(i) you have
read this Agreement in its entirety and understand all of its terms;

 

(ii) by this Agreement,
you have been advised in writing to consult with an attorney of your choosing and have consulted with such counsel before signing this Agreement;

 

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(iii) you knowingly,
freely, and voluntarily agree to all of the terms and conditions set out in this Agreement, including without limitation the
waiver, release, and covenants contained in it;

 

(iv) you are
signing this Agreement, including the waiver and release, in exchange for good and valuable consideration in addition to anything
of value to which you are otherwise entitled;

 

(v) you were
given 21 days after receipt of this Agreement to consider the terms of this Agreement and consult with an attorney of your choice,
although you may sign it sooner if desired, and changes to drafts of this Agreement, whether material or immaterial, do not restart
the running of the 21-day period;

 

(vi) you understand
that you have seven days after signing this Agreement to revoke your acceptance of this Agreement by delivering notice of revocation
to Brittani Morelli at AudioEye, by email to bmorelli@audioEye.com or overnight delivery before the end of this seven-day period to 5210
East Williams Circle, Suite 750, Tucson, Arizona 85711; and

 

(vii) you understand
that the releases contained in this Agreement does not apply to rights and claims that may arise after you sign this Agreement.

 

c. Exclusions. The
general releases and waiver of claims contained in Section 3(a) above excludes, and you do not waive, release, or discharge: (i) any right
to file an administrative charge or complaint with, or testify, assist, or participate in an investigation, hearing, or proceeding conducted
by, the Equal Employment Opportunity Commission or other federal, state, or local administrative agencies, although you waive any right
to monetary relief related to any filed charge or administrative complaint; and (ii) claims that cannot be waived by law, such as claims
for unemployment benefit rights and workers' compensation; (iii) indemnification rights you have against AudioEye; (iv) any right to file
an unfair labor practice charge under the National Labor Relations Act; (v) a challenge to the effectiveness of a release of claims under
the ADEA pursuant to the Older Workers Benefit Protection Act, and (vi) any rights to vested benefits, such as pension, or retirement
benefits, or vested equity awards, the rights to which are governed by the terms of the applicable plan documents and award agreements,
including as discussed further below.

 

d. Release and Waiver
by AudioEye. In exchange for the consideration provided in this Agreement, AudioEye irrevocably and unconditionally fully and forever
waives, releases, and discharges you from any and all Claims that AudioEye may have or has ever had against you arising out of, or in
any way related to (x) your hire, compensation, benefits, employment, termination, or separation from employment with AudioEye, or (y)
any other matter, in all cases by reason of any actual or alleged act, omission, transaction, practice, conduct, or occurrence from the
beginning of time up to and including the date of AudioEye’s execution of this Agreement; provided, however, that AudioEye does
not release you from any Claims arising out of, or in any way related to, this Agreement, any actual or alleged criminal or fraudulent
act, omission, transaction, practice, conduct, or occurrence by you, or any breach of a duty of loyalty or fiduciary duty (other than
the duty of care) that you owe or owed AudioEye.

 

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4.                 
Retention, Return and Destruction of Property. You will be entitled to keep, and shall have title to, the following property
(which may or may not be AudioEye property) in your possession or under your control: any computers, cellular telephones, furniture, printers
and any other electronic or computer-related equipment. On or before June 9, 2021, you will deliver promptly to AudioEye keys in your
possession or under your control. On or before June 9, 2021, you will remove any AudioEye data contained on any of your personal devices
(including any of the retained property) or that you have stored remotely, including on the cloud. You will cooperate with AudioEye to
ensure such data is fully removed from all personal devices.

 

5.                 
Non-Admission. There is no implication or admission of liability or wrongdoing by AudioEye or the other Released Parties with
respect to any and all matters related to your employment or the cessation of that employment, nor may this Agreement be considered as
an admission by AudioEye of any liability or violation of law.

 

6.                 
Governing Law. This Agreement and all questions relating to its validity, interpretation, performance, and enforcement, will
be governed by, and construed in accordance with the internal laws, and not the law of conflicts, of the State of Arizona.

 

7.                 
Attorneys’ Fees. The prevailing party in any litigation to enforce this Agreement will recover all of such party’s
reasonable costs, expenses, and attorneys’ fees from the other party.

 

8.                 
Entire Agreement. Neither party has made any representations, warranties, inducements or oral agreements, except as expressly
set forth in this Agreement. This Agreement revokes and supersedes all agreements previously entered into by the parties with respect
to the subject matter, except as set forth herein and except that nothing herein will supersede or preempt the post-employment rights
and obligations set forth in the Employment Agreement or any other agreement between you and AudioEye, and/or an AudioEye policy acknowledged
by you in writing, dealing with confidentiality, non-solicitation of employees or actual or potential customers, inventions and/or assignment
of inventions. In the event of a direct conflict between the terms of this Agreement and any such rights and obligations specified on
the preceding sentence, then the terms of this Agreement will control. The parties may not change, modify, or rescind this Agreement except
in a writing, signed by both parties. Any attempt at oral modification of this Agreement shall be void and of no effect.

 

9.                 
Severability. The provisions of this Agreement are severable, and if any one or more of these provisions are held to be invalid
or unenforceable, in whole or in part, the remaining provisions and any partially enforceable provisions will be binding and enforceable.

 

10.             
Time to Consider. As set forth above, you may take 21 calendar days after receiving this Agreement to accept and sign the Agreement.
To the extent you sign this Agreement prior to the expiration of such time, we will understand that it is your desire to waive any remaining
portion of the 21-day period within which to consider this Agreement (but not the seven-day period within which you may revoke this Agreement).
You acknowledge that you have had a reasonable time to consider this Agreement, and that you could have and would have taken the full
21 days to consider this Agreement had you needed or desired it. You acknowledge that no pressure has been applied or unreasonable deadline
stated by AudioEye in connection with your executing this Agreement and that you were guided by your own judgment, and desire to expedite
payment of the amount set forth above in determining to sign this Agreement before the expiration of the 21-day period.

 

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11.             
Time to Revoke. You also have the right to revoke this Agreement for any reason within seven calendar days after you have signed
it by email delivery of a written notice of revocation to Ms. Morelli as provided above. You further acknowledge that you understand that
the Agreement will not become effective or enforceable unless and until you have signed and delivered this Agreement within the period
set forth above, you have not revoked it, and the applicable revocation period has expired.

 

12.             
RSUs. You received three separate awards of Restricted Share Units (“RSUs”) pursuant to the Audio Eye, Inc. 2019
Equity Incentive Plan, as amended and restated on May 18, 2020, (the “Plan”) as follows: (a) an award of 80,900 RSUs with
a grant date of June 3, 2019 (the “2019 Grant”), (b) an award of 26,967 performance-based RSUs on May 20, 2020 (the “2020
Performance-Based Grant”), and (c) an award of 26,967 time-based RSUs on May 20, 2020 (the “2020 Time-Based Grant”).
The parties confirm that (x) 26,967 RSUs from the 2019 Grant have vested; (y) zero RSUs from the 2020 Performance-Based Grant have vested;
and (z) all 26,967 RSUs from the 2020 Time-Based Grant have vested. All other RSUs are unvested and shall be deemed forfeited as of the
Separation Date. Your rights and obligations with respect to the vested RSUs shall be as set forth in the Plan, the applicable Restricted
Stock Unit Agreements, and other documents referenced therein.

 

13.             
Non-Disparagement. You agree that from the date of this Agreement forward you will not make, either yourself or through an
agent, any oral or written statements or omissions that are or reasonably could be interpreted to be of a negative or critical nature
concerning AudioEye or its employees, including, but not limited to, statements about the Company's business practices, the activities
of its employees and shareholders, events in the workplace, and your treatment by AudioEye, to anyone other than in private and privileged
conversations with your legal advisor, or as required by law or administrative agency process.

 

14.             
Acknowledgment. 

 

a.     
You acknowledge and agree that: (i) AudioEye has not made any promises, covenants, representations, or warranties to you or
anyone else other than those explicitly set forth in this Agreement, and further acknowledge and agree that you have not received, relied
upon, or been induced, coerced, or unduly influenced to enter into this Agreement by any statements, promises, covenants, or representations
other than the ones set forth in this Agreement; (ii) you have been given a reasonable period of time to consider this Agreement; (iii)
you have had the opportunity to consult with and be advised by legal counsel, and have had the opportunity to make whatever investigation
or inquiry that you might have deemed necessary or desirable in connection with the subject matter of this Agreement prior to its execution;
(iv) this Agreement is written in a manner understandable to you, and you have read and understood all sections and paragraphs of this
Agreement; (v) you have relied on your own judgment and the advice of your attorneys (if you have consulted with legal counsel) regarding
the consideration for and the terms of this Agreement; and (vi) you have executed this Agreement voluntarily, on the advice of counsel
(if you have consulted with legal counsel), and with full knowledge and understanding of its contents.

 

b.     
You further acknowledge, represent and warrant that, other than the Severance Benefits, you have received payment in full of
all of the compensation, benefits and/or payments of any kind due you from the Company and its affiliates and subsidiaries (or any of
them), whether arising out of the Employment Agreement, the Plan, any related award agreements, or otherwise, including all wages, bonuses,
equity, expense reimbursements, payments to benefit plans, and any other payment under a plan, program, practice, promise, or arrangement
of AudioEye and its subsidiaries and affiliates. You understand and agree that, except as provided herein, you are not entitled to any
additional compensation or benefits from AudioEye or any of the other Releasors.

 

* * *

 

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This offer made in this Agreement
is effective only until midnight on the 21st day after the Company gave you this Agreement. If you decide to accept the benefits described
herein, please sign, and date this Agreement where indicated below, and return it to Ms. Morelli before that time as provided above. If
you do not accept the offer by that time, then the offer of Severance Benefits and this Agreement will be deemed withdrawn.

 

Sincerely,

 

	AUDIOEYE, INC.	 
	 	 
	/s/ David Moradi	 
	David Moradi	 

 

I HAVE READ, UNDERSTAND AND AGREE FULLY TO THE FOREGOING AGREEMENT:

 

	/s/ Sachin Barot	 
	Sachin Barot	 
	 	 
	Date:	6/10/2021	

 

    7Exhibit 4.4

 

RIGHTS AGREEMENT

 

This Rights Agreement
(this “Agreement”) is made as of June 7, 2021 between SPK Acquisition Corp., a Delaware corporation (the
“Company”), and Continental Stock Transfer & Trust Company, a New York corporation, with offices at 1 State Street,
New York, New York 10004 (the “Right Agent”).

 

WHEREAS, the Company
has received a firm commitment from Chardan Capital Markets, LLC (the “Representative”), as representative of the several
underwriters, to purchase up to an aggregate of 5,750,000 units, each unit (“Unit”) comprised of one share of common
stock of the Company, par value $.0001 (the “Common Stock”) and one right to receive one-tenth of one share of Common
Stock (a “Public Right”) upon the happening of the triggering event described herein, and in connection therewith,
will issue and deliver up to an aggregate of 5,750,000 Public Rights upon consummation of such public offering, 750,000 of which
are attributable to the over-allotment option (“Public Offering”);

 

WHEREAS, simultaneously
with the consummation of the Public Offering, the Company will issue and deliver up to an aggregate of 220,000 rights underlying
private units (the “Private Rights”);

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-255461
(“Registration Statement”), for the registration, under the Securities Act of 1933, as amended (“Act”)
of, among other securities, the Public Rights and the Common Stock issuable to the holders of the Public Rights;

 

WHEREAS, the Company
desires the Right Agent to act on behalf of the Company, and the Right Agent is willing to so act, in connection with the issuance,
registration, transfer and exchange of the Rights;

 

WHEREAS, the Company
desires to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights,
limitation of rights, and immunities of the Company, the Right Agent, and the holders of the Rights; and

 

WHEREAS, all acts
and things have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned
by or on behalf of the Right Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

NOW, THEREFORE,
in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

	1.	Appointment of Right Agent. The Company hereby appoints the Right Agent to act as agent for the Company for the Rights, and the Right Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

	2.	Rights.

 

	 	2.1.	Form of Right. Each Right shall be issued in registered or book entry form, as requested by the Company or the holder of a Right. Any Rights issued in registered form shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s seal, if any. In the event the person whose facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

	 	2.2.	Effect of Countersignature. Unless and until countersigned by the Right Agent pursuant to this Agreement, a registered Right shall be invalid and of no effect and may not be exchanged for Common Stock.

 

    

     

    

 

	 	2.3.	Registration.

 

	 	2.3.1.	Right Register. The Right Agent shall maintain books (“Right Register”) for the registration of original issuance and the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Right Agent shall issue and register the Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Right Agent by the Company.

 

	 	2.3.2.	Registered Holder. Prior to due presentment for registration of transfer of any Right, the Company and the Right Agent may deem and treat the person in whose name such Right shall be registered upon the Right Register (“registered holder”) as the absolute owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone other than the Company or the Right Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

 

	 	2.4.	Detachability of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until the ninetieth (90th) day after the date hereof unless the Representative informs the Company and the Right Agent of its decision to allow earlier separate trading, but in no event will separate trading of the securities comprising the Units begin until (i) the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current Report on Form 8-K announcing when such separate trading shall begin.

 

	3.	Terms and Exchange of Rights.

 

	 	3.1.	Rights. Each Right shall entitle the holder thereof to receive one-tenth of one share of Common Stock upon the happening of the Exchange Event (described below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its shares of Common Stock upon the Exchange Event as the purchase price for such shares of Common Stock has been included in the purchase price for the Units. In no event will the Company be required to net cash settle the Rights or issue fractional shares of Common Stock. The provisions of this Section 3.1 may not be modified, amended or deleted without the prior written consent of the Representative.

 

	 	3.2.	Exchange Event. The Exchange Event shall be the Company’s consummation of an initial Business Combination (as defined in the Company’s Amended and Restated Certificate of Incorporation).

 

	 	3.3.	Exchange of Rights.

 

	 	3.3.1.	Issuance of Certificates. As soon as practicable upon the occurrence of the Exchange Event, the Company shall direct holders of the Rights to return their Rights Certificates to the Right Agent. If the Company is not the surviving entity in a Business Combination, the holder of Rights must affirmatively elect to such conversion. Upon receipt of a valid Rights Certificate, the Right Agent shall issue to the registered holder of such Right(s) a certificate or certificates for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights. At the time of the Exchange Event, the Company will instruct the Right Agent to round down to the nearest whole share of Common Stock or otherwise inform it how fractional shares will be addressed in accordance with Delaware law.

 

    

     

    

 

	 	3.3.2.	Valid Issuance. All shares of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

 

	 	3.3.3.	Date of Issuance. Each person in whose name any such certificate for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate.

 

	 	3.3.4.	Company Not Surviving Following Exchange Event. If the Exchange Event results in the Company not continuing as a publicly held reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Common Stock will receive in with the Exchange Event, for the number of shares such holder is entitled to pursuant to Section 3.1 above.

 

	 	3.4.	Duration of Rights. If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

	4.	Transfer and Exchange of Rights.

 

	 	4.1.	Registration of Transfer. The Right Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall be cancelled by the Right Agent.

 

	 	4.2.	Procedure for Surrender of Rights. Rights may be surrendered to the Right Agent, together with a written request for exchange or transfer, and thereupon the Right Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer bears a restrictive legend, the Right Agent shall not cancel such Right and issue new Rights in exchange therefor until the Right Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also bear a restrictive legend.

 

	 	4.3.	Fractional Rights. The Right Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right Certificate for a fraction of a Right.

 

	 	4.4.	Service Charges. There shall be a reasonable service charge paid to the Right Agent for any exchange or registration of transfer of Rights.

 

	 	4.5.	Right Execution and Countersignature. The Right Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Right Agent, will supply the Right Agent with Rights duly executed on behalf of the Company for such purpose.

 

	5.	Other Provisions Relating to Rights of Holders of Rights.

 

	 	5.1.	
        No Rights as Shareholder.
Until exchange of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered holder thereof
to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or other
distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings
of shareholders or the election of directors of the Company or any other matter.

 

    

     

    

 

	 	5.2.	Lost, Stolen, Mutilated, or Destroyed Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Right Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed. Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Right shall be at any time enforceable by anyone.

 

	 	5.3.	Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

	6.	Concerning the Right Agent and Other Matters.

 

	 	6.1.	Payment of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Right Agent in respect of the issuance or delivery of shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated to pay any transfer taxes in respect of the Rights or such shares.

 

	 	6.2.	Resignation, Consolidation, or Merger of Right Agent.

 

	 	6.2.1.	Appointment of Successor Right Agent. The Right Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Right Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Right Agent in place of the Right Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Right Agent or by the holder of the Right (who shall, with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Right Agent at the Company’s cost. Any successor Right Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Right Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Right Agent with like effect as if originally named as Right Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Right Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Right Agent all the authority, powers, and rights of such predecessor Right Agent hereunder; and upon request of any successor Right Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Right Agent all such authority, powers, rights, immunities, duties, and obligations.

 

	 	6.2.2.	Notice of Successor Right Agent. In the event a successor Right Agent shall be appointed, the Company shall give notice thereof to the predecessor Right Agent and the transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

	 	6.2.3.	Merger or Consolidation of Right Agent. Any corporation into which the Right Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Right Agent shall be a party shall be the successor Right Agent under this Agreement without any further act.

  

    

     

    

	 	6.3.	Fees and Expenses of Right Agent.

  

	 	6.3.1.	Remuneration. The Company agrees to pay the Right Agent reasonable remuneration for its services as such Right Agent hereunder and will reimburse the Right Agent upon demand for all expenditures that the Right Agent may reasonably incur in the execution of its duties hereunder.

 

	 	6.3.2.	Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Right Agent for the carrying out or performing of the provisions of this Agreement.

 

	 	6.4.	Liability of Right Agent.

 

	 	6.4.1.	Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Right Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer or Chief Financial Officer and delivered to the Right Agent. The Right Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

	 	6.4.2.	Indemnity. The Right Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Right Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Right Agent in the execution of this Agreement except as a result of the Right Agent’s gross negligence, willful misconduct, or bad faith.

 

	 	6.4.3.	Exclusions. The Right Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Right or as to whether any shares of Common Stock will, when issued, be valid and fully paid and nonassessable.

 

	 	6.5.	Acceptance of Agency. The Right Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth.

 

	 	6.6.	Waiver. The Right Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and the Right Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

	7.	Miscellaneous Provisions.

 

	 	7.1.	Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Right Agent shall bind and inure to the benefit of their respective successors and assigns.

 

	 	7.2.	Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Right Agent or by the holder of any Right to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Right Agent), as follows:

 

    

     

    

 

	 	SPK Acquisition Corp.

Room 368, 302 Buwei

211 Fute North Road,

China (Shanghai) Pilot Free Trade Zone, 200131

Attn: Sophie Ye Tao

 

	 	Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Right or by the Company to or on the Right Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Right Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street

New York, NY 10004

Attn: Compliance Department

 

and

 

Loeb & Loeb LLP

35 Park Avenue

New York, New York 10154

Attn: Tahra Wright, Esq.

 

and

 

Chardan Capital Markets, LLC

17 State Street, Suite 1600

New York, New York 10004

Attn: Shai Gerson

 

and

 

White and Williams LLP

7 Times Square, Suite 2900

New York, New York 10036

Attn: Alexandria Kane

 

	 	7.3.	Applicable Law. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

	 	7.4.	Persons Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, the Representative, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and the Representative with respect to Sections 3.1, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights.

 

    

     

    

 

	 	7.5.	Examination of this Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Right Agent in the County of Nassau County, State of New York, for inspection by the registered holder of any Right. The Right Agent may require any such holder to submit his, her or its Right for inspection by it.

 

	 	7.6.	Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

	 	7.7.	Effect of Headings. The Section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

	 	7.8.	Amendments. This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the registered holders. All other modifications or amendments shall require the written consent or vote of the registered holders of a majority of the then outstanding Rights. The provisions of this Section 7.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

	 	7.9.	Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    

     

    

 

IN WITNESS WHEREOF,
this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	SPK ACQUISITION CORP.
	 	   	 
	 	By:	/s/Sophie
Ye Tao
	 	Name:	Sophie
Ye Tao 
	 	Title:	Chief Executive
Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	   	 
	 	By:	/s/Stacy
Aqui
	 	Name:	Stacy Aqui
	 	Title:	Vice President

 

[Signature page
to Rights Agreement between SPK Acquisition Corp. and

Continental Stock Transfer & Trust
Company]

 

    

     

    

 

EXHIBIT A

 

Form of Right

 

A-1

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