Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

SECOND AMENDMENT TO CREDIT AGREEMENT 

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of April 27, 2020 (the “Second Amendment
Effective Date”), is entered into by and among HERITAGE INSURANCE HOLDINGS, INC., a Delaware corporation (the “Borrower”), the Guarantors, the Lenders party hereto, and Regions Bank, in its capacity as Administrative Agent
(the “Administrative Agent”). 
 R E C I T A L S 

WHEREAS, the Borrower, the Guarantors from time to time party thereto, the Lenders from time to time party thereto, and Regions Bank, as
Administrative Agent and Collateral Agent, are parties to that certain Credit Agreement, dated as of December 14, 2018 (as amended by that certain First Amendment to Credit Agreement, dated as of May 17, 2019, and as further amended,
restated, amended and restated, supplemented, increased, extended, refinanced, renewed, replaced, and/or otherwise modified in writing from time to time, the “Credit Agreement”); and 

WHEREAS, the Credit Parties have requested that the Credit Agreement be amended as provided in Section 3 below, and
the Lenders (by act of the Required Lenders) have agreed to consent to such amendments set forth herein, subject to the terms and conditions of this Amendment; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 A G R E E M E N T 

1. Introductory Paragraph and Recitals; Definitions. The above introductory paragraph and recitals (including any terms defined
therein) of this Amendment are incorporated herein by reference as if fully set forth in the body of this Amendment. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided for such terms in the Credit
Agreement (as amended by this Amendment). 
 2. Amendments to the Credit Agreement. Pursuant to Section 11.4 of the Credit
Agreement, the Credit Agreement is hereby amended in the following respects: 
 (a) The Table of Contents to the Credit Agreement is amended
by replacing the text “EEA” in the heading of Section 11.21 of the Credit Agreement with the text “Affected”. 

(b) Section 1.1 of the Credit Agreement is amended by inserting the following new definitions in the appropriate alphabetic order: 

“Affected Financial Institution” shall mean: (a) any EEA Financial Institution; or (b) any UK
Financial Institution. 
 “BHC Act Affiliate” of a party means an “affiliate” (as such term is
defined under, and interpreted in accordance with, 12 U.S.C. §–1841(k)) of such party. 
 “Covered
Entity” shall mean any of the following: (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §–252.82(b); (b) a “covered bank” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. §–47.3(b); and (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §–382.2(b). 

 “Covered Party” shall have the meaning provided in
Section 11.23. 
 “Default Right” has the meaning assigned to that term in, and
shall be interpreted in accordance with, 12 C.F.R. §§–252.81, 47.2 or 382.1, as applicable. 

“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be
interpreted in accordance with, 12 U.S.C. §–5390(c)(8)(D). 
 “QFC Credit Support” shall have the
meaning provided in Section 11.23. 
 “Resolution Authority” shall mean an EEA
Resolution Authority, or, with respect to any UK Financial Institution, a UK Resolution Authority. 
 “Supported
QFC” shall have the meaning provided in Section 11.23. 
 “U.S. Special Resolution
Regime” shall have the meaning provided in Section 11.23. 
 “UK Financial
Institution” shall mean any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the
FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” shall mean the Bank of England or any other public administrative authority having
responsibility for the resolution of any UK Financial Institution. 
 (c) The definitions of
“Bail-In Action”, “Bail-In Legislation” and “Write-Down and Conversion Powers” in Section 1.1 of the Credit Agreement are each amended and
restated in their entirety to read as follows: 
 “Bail-In Action”
shall mean the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

“Bail-In Legislation” shall mean: (a) with respect to any EEA
Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing Law for such EEA Member Country from time to time which is described in the applicable EU Bail-In Legislation Schedule; and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act of 2009 (as amended from time to time), and any other Law applicable in the United Kingdom
relating to the resolution of unsound or failing banks, investment firms or other financial institutions, or any affiliates of any of the foregoing (other than through liquidation, administration, or other insolvency proceedings). 

“Write-Down and Conversion Powers” shall mean: (a) with respect to any EEA Resolution Authority, the
write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in
the EU Bail-In Legislation Schedule; and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to
cancel, reduce, modify or change the form of a liability of any UK Financial Institution, or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that Person
or any other Person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it, or to suspend any obligation in respect of that liability, or any of the powers under that Bail-In legislation that are related or ancillary to any of those powers. 

  
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 (d) Clause (c) of the definition of “Permitted Acquisitions” in
Section 1.1 of the Credit Agreement is amended and restated in its entirety to read as follows: 
 (c) immediately after
giving effect to such Acquisition, either (i) there shall be at least $25,000,000 of Liquidity, or (ii) on a Pro Forma Basis, the Consolidated Leverage Ratio shall be at least 0.25:1.00 (a “quarter turn”) less
than the Consolidated Leverage Ratio required for the period of four (4) Fiscal Quarters most recently ended; 
 (e) Section
6.15(h) of the Credit Agreement is amended by replacing the text “EEA” with the text “Affected”. 
 (f) Section
8.6(o)(iii)(C) of the Credit Agreement is amended and restated in its entirety to read as follows: 
 (C) after giving effect
to any such Investment, either (i) there shall be at least $25,000,000 of Liquidity, or (ii) on a Pro Forma Basis, the Consolidated Leverage Ratio shall be at least 0.25:1.00 (a “quarter turn”) less than the
Consolidated Leverage Ratio required for the period of four (4) Fiscal Quarters most recently ended; 
 (g) Section 11.5(e) of the
Credit Agreement is amended to insert the text “, and this Section 11.5 shall not apply to any such pledge or assignment of a security agreement” immediately after the text “Federal Reserve Bank”.

 (h) Section 11.21 of the Credit Agreement is amended and restated in its entirety to read as follows: 

Section 11.21. Acknowledgement and Consent to Bail-In of Affected
Financial Institutions. Notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is
an Affected Financial Institution arising under any Credit Document, to the extent that such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority, and each party hereto agrees and
consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder that may be payable to it by any Lender that
is an Affected Financial Institution; and (b) the effects of any Bail-In Action on any such liability, including, if applicable, (i) a reduction, in full or in part, or cancellation of any such
liability, (ii) a conversion of all, or a portion, of such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to, or otherwise
conferred on, it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Credit Document, or (iii) the variation of the terms of
such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 
 (i) A new
Section 11.23 of the Credit Agreement is inserted at the end of Article XI of the Credit Agreement to read as follows: 

Section 11.23. Acknowledgement Regarding any Supported QFCs. 

(a) To the extent that the Credit Documents provide support, through a guarantee or otherwise, for any Swap Obligation or any
other agreement or instrument that is a QFC (such support, “QFC Credit Support”; and each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the
Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution
Regimes”) in respect of such Supported QFC and QFC 

  
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Credit Support (with the provisions below applicable notwithstanding that the Credit Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York
and/or of the United States or any other state of the United States. 
 (b) In the event that a Covered Entity that is a
party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective
under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the Laws of the United States or a state of the United States. In the event that a
Covered Party, or a BHC Act Affiliate of a Covered Party, becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Credit Documents that might otherwise apply to such Supported QFC or any QFC Credit Support
that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Credit Documents were governed by
the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any
Covered Party with respect to a Supported QFC or any QFC Credit Support. 
 3. Effectiveness; Conditions Precedent. This Amendment
shall become effective as of the Second Amendment Effective Date upon the satisfaction of each of the following conditions precedent: 

(a) Amendment. Receipt by the Administrative Agent of counterparts of this Amendment duly executed by each of the Credit
Parties, the Required Lenders, the Administrative Agent, and the Collateral Agent; and 
 (b) Fees and Expenses.
Receipt by (i) the Administrative Agent, for the account of each Lender that delivers its executed signature page to this Amendment to the Administrative Agent not in escrow on or prior to the date hereof, of an amendment fee in an amount equal
to the product of (A) five-hundredths percent (0.05%), and (B) the sum of (I) such Lender’s Revolving Commitment, and (II) such Lender’s portion of the outstanding principal amount of the Term Loan A, in
each case, as determined on the date hereof (which amendment fee shall be for such Lenders’ participation in this Amendment, shall be fully earned once paid, and shall be non-refundable for any reason
whatsoever), and (ii) the Administrative Agent and the Lenders of all other fees, expenses and other amounts due and payable on or prior to the date of this Agreement, including, without limitation, reimbursement or payment of all out-of-pocket expenses of the Administrative Agent (including, without limitation, reasonable fees, charges and disbursements of counsel to the Administrative Agent) required
to be reimbursed or paid by the Credit Parties hereunder, under any other Credit Document, and under any agreement with the Administrative Agent or the Collateral Agent. 

4. Representations and Warranties. The Borrower (on behalf of itself and the other Credit Parties) hereby represents and warrants to
the Administrative Agent and the Lenders as follows: 
 (a) the Borrower and each other Credit Party has taken all necessary
action to authorize the execution and delivery of, and performance under, this Amendment; 
 (b) this Amendment has been duly
executed and delivered by the Borrower and each other Credit Party and constitutes each such Credit Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to:
(i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar Laws affecting creditors’ rights generally; and/or (ii) general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity); 

  
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 (c) no consent, approval, authorization or order of, or filing, registration
or qualification with, any court or Governmental Authority or third-party is required in connection with the execution or delivery of, or performance under, this Amendment by the Borrower or any other Credit Party; 

(d) both immediately before and immediately after giving effect to this Amendment, the representations and warranties contained
in the Credit Agreement or any other Credit Document are true and correct in all material respects, except to the extent that such representations and warranties specifically refer to an earlier date, in which case, they are true and correct in all
material respects as of such earlier date; and 
 (e) both immediately before and immediately after giving effect to this
Amendment, no Default or Event of Default exists. 
 5. Reaffirmation. The Borrower (on behalf of itself and the other Credit
Parties): (a) (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Credit Documents (as amended by this Amendment), and (iii) agrees that this Amendment, and
all documents, agreements and instruments executed in connection with this Amendment, do not operate to reduce or discharge such Credit Party’s obligations under the Credit Documents (except to the extent such obligations are expressly
modified pursuant to this Amendment); and (b) (i) affirms that each of the Liens granted in, or pursuant to, the Credit Documents is valid and subsisting, and (ii) agrees that this Amendment, and all documents, agreements and instruments
executed in connection with this Amendment, do not, in any manner, impair, or otherwise adversely affect, any of the Liens granted in, or pursuant to, the Credit Documents. 

6. Miscellaneous. 

(a) Credit Document. This Amendment shall be deemed to be, and is, a Credit Document, and all references to a
“Credit Document” in the Credit Agreement and the other Credit Documents (including, without limitation, all such references in the representations and warranties in the Credit Agreement and the other Credit Documents) shall be
deemed to include this Amendment. 
 (b) No Other Changes. Except as expressly modified hereby, all of the terms and
provisions of the Credit Documents shall remain unchanged and in full force and effect. 
 (c) Counterparts; Delivery.
This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Amendment by telecopy or other electronic imaging means (including in “.pdf” form) shall be effective as delivery of a manually executed counterpart of this Amendment. 

(d) Fees and Expenses. The Borrower agrees to pay all reasonable out-of-pocket fees and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees and expenses of
Moore & Van Allen PLLC, as counsel to the Administrative Agent. 
 (e) Governing Law. THIS AMENDMENT AND ANY
CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF, OR RELATING TO THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK. 

  
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 [Remainder of Page Intentionally Left Blank; Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
as of the date first above written, intending to create an instrument under seal. 
  

					
	BORROWER:	 	HERITAGE INSURANCE HOLDINGS, INC.,
		 	a Delaware corporation
			
		 	By:	 	 /s/ Kirk Lusk (Seal)

		 	Name:	 	Kirk Lusk
		 	Title:	 	Chief Financial Officer
		
	GUARANTORS:	 	CONTRACTORS ALLIANCE NETWORK, LLC,
		 	a Florida limited liability company
		 	FIRST ACCESS INSURANCE GROUP, LLC,
		 	a Florida limited liability company
		 	HERITAGE INSURANCE CLAIMS, LLC,
		 	a Florida limited liability company
		 	HERITAGE MGA, LLC,
		 	a Florida limited liability company
		 	NBIC FINANCIAL HOLDINGS, INC.,
		 	a Delaware corporation
		 	NBIC HOLDINGS, INC.,
		 	a Delaware corporation
		 	NBIC SERVICE COMPANY, INC.,
		 	a Rhode Island corporation
		 	SKYE LANE PROPERTIES, LLC,
		 	a Florida limited liability company
		 	ZEPHYR ACQUISITION COMPANY,
		 	a Delaware corporation
			
		 	By:	 	 /s/ Kirk Lusk (Seal)

		 	Name:	 	Kirk Lusk
		 	Title:	 	Chief Financial Officer
		
		 	HI HOLDINGS, INC.,
		 	a Hawaii corporation
			
		 	By:	 	 /s/ Bruce Lucas (Seal)

		 	Name:	 	Bruce Lucas
		 	Title:	 	Chief Executive Officer

  
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	ADMINISTRATIVE AGENT	 		 	
	AND COLLATERAL AGENT:	 	REGIONS BANK,
		 	as Administrative Agent and Collateral Agent
			
		 	By:	 	 /s/ Hichem Kerma (Seal)

		 	Name:	 	Hichem Kerma
		 	Title:	 	Managing Director

  
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	LENDERS:	 	REGIONS BANK,
		 	as a Lender
			
		 	By:	 	 /s/ Hichem Kerma (Seal)

		 	Name:	 	Hichem Kerma
		 	Title:	 	Managing Director

  
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	BMO HARRIS BANK N.A.,
	as a Lender
		
	By:	 	 /s/ Catherine Liu (Seal)

	Name:	 	Catherine Liu
	Title:	 	Vice President

  
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	HANCOCK WHITNEY BANK,
	as a Lender
		
	By:	 	 /s/ Allen L. Harvell, Jr. (Seal)

	Name:	 	Allen L. Harvell, Jr.
	Title:	 	SVP

  
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	CIBC BANK USA,
	as a Lender
		
	By:	 	 /s/ Austin G. Love (Seal)

	Name:	 	Austin G. Love
	Title:	 	Managing Director

  
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	WOODFOREST NATIONAL BANK,
	as a Lender
		
	By:	 	 /s/ Jeffrey Mitchell (Seal)

	Name:	 	Jeffrey Mitchell
	Title:	 	Senior Vice President

  
 [Signature Pages
End]Exhibit 4.16 

 

Form of Representative’s Warrant
Agreement

 

THE REGISTERED HOLDER OF THIS PURCHASE
WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED
AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE
WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE
EFFECTIVE ECONOMIC DISPOSITION OF THE PURCHASE WARRANT BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) [__________] OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH
THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF [__________] OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE
WITH FINRA RULE 5110(G)(2).

 

THIS PURCHASE WARRANT IS NOT EXERCISABLE
PRIOR TO [            ] [DATE THAT IS ONE HUNDRED EIGHTY (180) DAYS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT]. VOID AFTER
5:00 P.M., EASTERN TIME, [          ] [DATE THAT IS FIVE (5) YEARS FROM THE EFFECTIVE DATE OF THE
REGISTRATION STATEMENT].

 

COMMON STOCK PURCHASE WARRANT

 

For the Purchase of [      ] Shares of Common
Stock

of

FREECAST, INC.

 

1.
Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of [__________] (“Holder”),
as registered owner of this Purchase Warrant, to FreeCast, Inc., a Florida corporation (the “Company”), Holder
is entitled, at any time or from time to time from [      ]
[DATE THAT IS ONE HUNDRED EIGHTY (180) DAYS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT] (the “Commencement
Date”), and at or before 5:00 p.m., Eastern time, [      ]
[DATE THAT IS FIVE (5) YEARS FROM THE EFFECTIVE DATE OF THE OFFERING] (the “Expiration Date”), but not
thereafter, to subscribe for, purchase and receive, in whole or in part, up to [      ]
shares of common stock of the Company, par value $0.0001 per share (the “Shares”), subject to adjustment as
provided in Section 5 hereof. If the Expiration Date is a day on which banking institutions are authorized by law to close, then
this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance with the terms herein.
During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase
Warrant. This Purchase Warrant is initially exercisable at $[        ] per Share [120% of the price of the Shares sold in the Offering];
provided, however, that upon the occurrence of any of the events specified in Section 5 hereof, the rights granted
by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall
be adjusted as therein specified. This Warrant is being issued pursuant to the certain Underwriting Agreement (the “Underwriting
Agreement”), dated ______, 2020, by and among the Company, the Holder and other underwriters named therein, providing
for the public offering (the “Offering”) of shares of common stock, par value $0.0001 per share, of the Company.
The term “Effective Date” shall mean the effective date of the Registration Statement on Form S-1 (File No.
333-236482). The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise price,
depending on the context.

 

     

     

    

 

1. Exercise.

 

1.1 Exercise
Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed
and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased
payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or
official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time,
on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented
hereby shall cease and expire.

 

1.2 Cashless
Exercise. In lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company pursuant
to Section 1.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion
thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto,
in which event the Company shall issue to Holder, Shares in accordance with the following formula:

 

	
         

        X =
	Y(A-B)
	A

 

Where,

 

X = The number of Shares to be issued to Holder;

Y = The number of Shares for which the Purchase Warrant
is being exercised;

A = The fair market value of one Share; and

B = The Exercise Price.

 

For purposes of this
Section 1.2, the fair market value of a Share is defined as follows:

 

(i) if
the Company’s common stock is traded on a securities exchange, the fair market value shall be deemed to be the closing price
on such exchange on the trading day immediately prior to the date the exercise form is submitted to the Company in connection with
the exercise of the Purchase Warrant; or

 

(ii) if
the Company’s common stock is actively traded over-the-counter, the fair market value shall be deemed to be the closing bid
price on the trading day immediately prior to the date the exercise form is submitted to the Company in connection with the exercise
of the Purchase Warrant; or

 

(iii) if
there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s
Board of Directors.

 

    2

     

    

 

1.3 Legend.
Each certificate for the securities purchased under this Purchase Warrant shall bear a legend as follows unless such securities
have been registered under the Securities Act of 1933, as amended (the “Act”):

 

“The securities
represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”),
or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise transferred
except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration
under the Securities Act and applicable state law which, in the opinion of counsel to the Company, is available.”

 

1.4 No
Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Warrant, in no event
will the Company be required to net cash settle the exercise of the Purchase Warrant. The holder of the Purchase Warrant will not
be entitled to exercise the Purchase Option unless it exercises such Purchase Warrant pursuant to the cashless exercise right or
a registration statement is effective, or an exemption from the registration requirements is available at such time and, if the
Holder is not able to exercise the Purchase Warrant, the Purchase Warrant will expire worthless.

 

2. Transfer.

 

2.1 General
Restrictions. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder
will not for a period of one hundred eighty (180) days following the Effective Date: (a) sell, transfer, assign, pledge or hypothecate
this Purchase Warrant to anyone other than: (i) [__________] (“[Underwriter]”) or another underwriter or a selected
dealer participating in the Offering, or (ii) a bona fide officer or partner of [Underwriter] or of any such underwriter or selected
dealer, in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or the securities issuable
hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective
economic disposition of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). On
and after one hundred eighty (180) days after the Effective Date, transfers to others may be made subject to compliance with or
exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company the
assignment form attached hereto duly executed and completed, together with the Purchase Warrant and payment of all transfer taxes,
if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant on the
books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate
assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of
such number as shall be contemplated by any such assignment.

 

    3

     

    

 

2.2 Restrictions
Imposed by the Securities Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until:
(i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption
from registration under the Securities Act and applicable state securities laws, the availability of which is established to the
reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Cozen O’Connor shall be deemed satisfactory
evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration
Statement relating to the offer and sale of such securities has been filed by the Company and declared effective by the U.S. Securities
and Exchange Commission (the “Commission”) and compliance with applicable state securities law has been established.

 

3. Registration
Rights.

 

3.1 “Piggy-Back”
Registration.

 

3.1.1 Grant
of Right. The Holder shall have the right, for a period of no more than seven (7) years from the Effective Date in accordance
with FINRA Rule 5110(f)(2)(G)(v), to include any portion of the Shares underlying the Purchase Warrants (collectively, the “Registrable
Securities”) as part of any other registration of securities filed by the Company (other than in connection with a transaction
contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent form); provided,
however, that if, solely in connection with any primary underwritten public offering for the account of the Company, the
managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of shares of common stock
which may be included in the Registration Statement because, in such underwriter(s)’ judgment, marketing or other factors
dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such
Registration Statement only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion
hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the
Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by
such Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company
has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such Registration
Statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

3.1.2 Terms.
The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 3.1.1 hereof,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company
shall furnish the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to
the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration
statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder. The holders of
the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written notice within
ten (10) days of the receipt of the Company’s notice of its intention to file a registration statement. Except as otherwise
provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this
Section 3.1.2; provided, however, that such registration rights shall terminate upon on the sixth anniversary of
the Commencement Date.

 

    4

     

    

 

3.2 General
Terms.

 

3.2.1 Indemnification.
The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder
and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20(a) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), against all loss, claim, damage, expense
or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing
or defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act
or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions
pursuant to which the Company has agreed to indemnify the Underwriters contained in Section 5.1 of the Underwriting Agreement
between the Underwriters and the Company, dated as of [            ], 2020. The Holder(s) of the Registrable Securities to be sold pursuant
to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company and
its affiliates, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other
expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject
under the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or
their successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the
same effect as the provisions contained in Section 5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed
to indemnify the Company.

 

3.2.2 Exercise
of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s) to exercise
their Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

3.2.3 Documents
Delivered to Holders. The Company shall furnish to each Holder participating in any underwritten offerings and to each underwriter
of any such offering, a signed counterpart, addressed to such Holder and underwriter, of: (i) an opinion of counsel to the Company,
dated the effective date of such registration statement (and an opinion dated the date of the closing under any underwriting agreement
related thereto), and (ii) a “cold comfort” letter dated the effective date of such registration statement (and a letter
dated the date of the closing under the underwriting agreement) signed by the independent registered public accounting firm which
has issued a report on the Company’s financial statements included in such registration statement, in each case covering
substantially the same matters with respect to such registration statement (and the prospectus included therein) and, in the case
of such accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily
covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten public
offerings of securities. The Company shall also deliver promptly to each Holder participating in the underwritten offering requesting
the correspondence and memoranda described below and to the managing underwriter copies of all correspondence between the Commission
and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect
to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice,
with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to comply
with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and
opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent
and at such reasonable times as any such Holder shall reasonably request.

 

    5

     

    

 

3.2.4 Underwriting
Agreement. In the event the Company shall enter into an underwriting agreement with any managing underwriter(s), if any, selected
by the Company with respect to the Registrable Securities that are being registered pursuant to this Section 3, which managing
underwriter shall be reasonably satisfactory to the Majority Holders. Such agreement shall be reasonably satisfactory in form and
substance to the Company and such managing underwriters, and shall contain such representations, warranties and covenants by the
Company and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders
shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their
option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters
shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties
to or agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended
methods of distribution.

 

3.2.5 Documents
to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company
a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

3.2.6 Damages.
Should the registration or the effectiveness thereof required by Section 3.1 hereof be delayed by the Company or the Company otherwise
fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to the Holder(s),
be entitled to seek specific performance or other equitable (including injunctive) relief against the threatened breach of such
provisions or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of
posting bond or other security.

 

4. New
Purchase Warrants to be Issued.

 

4.1 Partial
Exercise or Transfer. Subject to the restrictions in Section 2 hereof, this Purchase Warrant may be exercised or assigned
in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for
cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or
transfer tax if exercised pursuant to Section 1.1 hereto, the Company shall cause to be delivered to the Holder without charge
a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase
the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

4.2 Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver
a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

    6

     

    

 

5. Adjustments.

 

5.1 Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant
shall be subject to adjustment from time to time as hereinafter set forth:

 

5.1.1 Share
Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective
day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares,
and the Exercise Price shall be proportionately decreased.

 

5.1.2 Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares
is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date
thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding Shares, and
the Exercise Price shall be proportionately increased.

 

5.1.3 Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 5.1.1 or 5.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share
reconstruction or amalgamation or consolidation of the Company with or into another corporation or other entity (other than a consolidation
or share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the
property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder
of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant)
to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the
kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder
of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if
any reclassification also results in a change in Shares covered by Section 5.1.1 or 5.1.2, then such adjustment shall be made pursuant
to Sections 5.1.1, 5.1.2 and this Section 5.1.3. The provisions of this Section 5.1.3 shall similarly apply to successive reclassifications,
reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.

 

5.1.4 Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
5.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated
in [the Purchase Warrants initially issued pursuant to this Agreement]. The acceptance by any Holder of the issuance of new Purchase
Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

    7

     

    

 

5.2 Substitute
Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company
with or into, another corporation or other entity (other than a consolidation or share reconstruction or amalgamation which does
not result in any reclassification or change of the outstanding Shares), the corporation or other entity formed by such consolidation
or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that
the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration
of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other
securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of
Shares of the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share
reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall
be identical to the adjustments provided for in this Section 5. The above provision of this Section shall similarly apply to successive
consolidations or share reconstructions or amalgamations.

 

5.3 Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon
the exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests,
it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the
case may be, to the nearest whole number of Shares or other securities, properties or rights.

 

6. Reservation
and Listing. The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose
of issuance upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of
the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall
be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. The Company
further covenants and agrees that upon exercise of the Purchase Warrants and payment of the exercise price therefor, all Shares
and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any shareholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially
reasonable efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTC Bulletin Board or any successor trading market)
on which the Shares issued to the public in the Offering may then be listed and/or quoted.

 

    8

     

    

 

7. Certain
Notice Requirements.

 

7.1 Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent
or to receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as
a shareholder of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any
of the events described in Section 7.2 shall occur, then, in one or more of said events, the Company shall give written notice
of such event at least fifteen (15) days prior to the date fixed as a record date or the date of closing the transfer books for
the determination of the shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription
rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record
date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver
to each Holder a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that
such notice is given to the shareholders.

 

7.2 Events
Requiring Notice. The Company shall be required to give the notice described in this Section 7 upon one or more of the
following events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company
shall offer to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution,
liquidation or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation)
or a sale of all or substantially all of its property, assets and business shall be proposed.

 

7.3 Notice
of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant
to Section 5 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice
shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate
by the Company’s Chief Financial Officer.

 

7.4 Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and
shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the
registered Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the
Company, to following address or to such other address as the Company may designate by notice to the Holders:

If to the Holder:

 

____________

____________

____________

Attn: [●]

 

    9

     

    

 

with a copy (which shall not constitute notice) to:

 

Cozen O’Connor

33 South 6th Street, Suite 3800

Minneapolis, Minnesota 55402

Attn: Christopher J. Bellini, Esq.

Email: cbellini@cozen.com

 

If to the Company:

 

FreeCast, Inc.

6901 TPC Drive, Suite 200

Orlando, Florida 32801

Attention: William A. Mobley, Jr., Chief Executive Officer

Email: bmobley@freecast.com

 

with a copy (which shall not constitute notice) to:

 

Bahnsen Legal Group, PLLC

131 NE 1st Avenue, Suite 100

Boca Raton, Florida 33432

Attn: Jeffery A. Bahnsen

Email: jeff@bahnsenlaw.com

 

8. Miscellaneous.

 

8.1 Amendments.
The Company and [Underwriter] may from time to time supplement or amend this Purchase Warrant without the approval of any of the
Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent
with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the
Company and [Underwriter] may deem necessary or desirable and that the Company and [Underwriter] deem shall not adversely affect
the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party
against whom enforcement of the modification or amendment is sought.

 

8.2 Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

8.3 Entire
Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

8.4 Binding
Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company
and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions
herein contained.

 

    10

     

    

 

8.5 Governing
Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in
accordance with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby
agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be
brought and enforced in the New York Supreme Court, County of New York, or in 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 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 hereof. Such mailing shall be deemed personal service and
shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing
party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees
and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on
its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby.

 

8.6 Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall
not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant
or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be
effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver
is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any
other or subsequent breach, non-compliance or non-fulfillment.

 

8.7 Execution
in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto
in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one
and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto
and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic
transmission.

 

[Signature Page Follows]

 

    11

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the ______ day of ________________,
2020.

 

	 	FREECAST, INC.
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

 

    12

     

    

 

[Form to be used to exercise Purchase
Warrant]

 

Date: _______________, 20___

 

The undersigned hereby
elects irrevocably to exercise the Purchase Warrant for            shares of common stock, par value $0.0001 per share (the “Shares”),
of FreeCast, Inc., a Florida corporation (the “Company”), and hereby makes payment of $                (at the rate
of $         per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase
Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the
number of Shares for which this Purchase Warrant has not been exercised.

 

or

 

The undersigned hereby
elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares, as
determined in accordance with the following formula:

 

	
         

        X =
	Y(A-B)
	A

 

Where,

 

X = The number of Shares to be issued to Holder;

Y = The number of Shares for which the Purchase Warrant
is being exercised;

A = The fair market value of one Share which is equal
to $_____; and

B = The Exercise Price which is equal to $______ per
share

 

The undersigned agrees
and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect
to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue the Shares
as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

Signature

 

Signature Guaranteed                                   

 

    13

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

Name:

 

(Print in Block Letters)

 

	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

    14

     

    

 

[Form to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

(To be executed by the registered Holder
to effect a transfer of the within Purchase Warrant):

 

FOR VALUE RECEIVED, __________________
does hereby sell, assign and transfer unto the right to purchase shares of common stock, par value $0.0001 per share, of FreeCast,
Inc., a Florida corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize the
Company to transfer such right on the books of the Company.

 

Dated: __________, 20__

 

Signature

 

Signature Guaranteed                                         

 

NOTICE: The signature to this form must correspond with the
name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must
be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national
securities exchange.

 

 

15

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