Document:

Exhibit 10.5

 

        
Exhibit
10.5

PLACEMENT AGENCY AGREEMENT

 

March
12, 2019

 

ThinkEquity,
a division of Fordham Financial Management, Inc.

17
State Street, 22nd Floor New York, NY 10004

 

Taglich
Brothers

790 New
York Avenue

Huntington,
NY 11743

 

Ladies
and Gentlemen:

 

Subject
to the terms and conditions herein (this “Agreement”) and the
Transaction Documents (defined below), Bridgeline Digital, Inc., a
Delaware corporation (the “Company”), hereby agrees
to sell securities consisting of, (i) shares of Series C
Convertible Preferred Stock, par value $0.001 per share with
rights, preferences and privileges as set forth in the Certificate
of Designations attached as Exhibit A (each a “Preferred Share” and
collectively, the “Preferred Shares”), (ii)
Series A warrants to purchase Common Stock (the “Series A Warrants”) in
the form attached as Exhibit B; (iii) Series B
warrants to purchase Common Stock in the form attached as
Exhibit C (the
“Series B
Warrants”); and (iv) Series C warrants to purchase
Common Stock in the form attached as Exhibit D (the
“Series C
Warrants” and together with the Series A Warrants and
Series B Warrants, the “Warrants”), directly to
various investors (each, an “Investor” and,
collectively, the “Investors”) through
ThinkEquity, a division of Fordham Financial Management, Inc. and
Taglich Brothers Inc. (the “Placement Agents”), as
placement agents. The Securities (as defined herein) shall be
offered and sold pursuant to Section 4(a)(2) under the Securities
Act of 1933, as amended (the “Securities Act”). The
documents executed and delivered by the Company and the Investors
in connection with the Offering (as defined below), including,
without limitation, a securities purchase agreement (the
“Purchase
Agreement”) and a registration rights agreement (the
“RRA”)
shall be collectively referred to herein as the “Transaction Documents.”
The Purchase Price to the Investors for each Preferred Share and
related Warrants is $1,000. The exercise price to the Investors for
each share of Common Stock issuable upon exercise of the Series A
Warrants, Series B Warrants and Series C Warrants is $0.18, $0.18
and $0.001, respectively. The Placement Agent may retain other
brokers or dealers to act as sub-agents or selected-dealers on its
behalf in connection with the Offering (as defined below). The
Shares, the Preferred Shares, the Warrants, the shares of Common
Stock issuable upon conversion of the Preferred Shares (the
“Conversion
Shares”) and the shares of Common Stock issuable upon
exercise of the Warrants (the “Warrant Shares”) are
hereafter referred to as the “Securities”).

 

The
Company hereby confirms its agreement with the Placement Agent as
follows:

 

Section
1. Agreement to Act as Placement
Agent.

 

(a) On the basis of the
representations, warranties and agreements of the Company herein
contained, and subject to all the terms and conditions of this
Agreement, the Placement Agents shall be the exclusive Placement
Agents in connection with the offering and sale by the Company of
the Securities pursuant to Section 4(a)(2) under the Securities
Act, with the terms of such offering (the “Offering”) to be subject
to market conditions and negotiations between the Company, the
Placement Agent and the prospective Investors. The Placement Agents
will act on a reasonable best efforts basis and the Company agrees
and acknowledges that there is no guarantee of the successful
placement of the Securities, or any portion thereof, in the
prospective Offering. Under no circumstances will the Placement
Agents or any of its “Affiliates” (as defined below) be
obligated to underwrite or purchase any of the Securities for its
own account or otherwise provide any financing. The Placement
Agents shall act solely as the Company’s agent and not as
principal. The Placement Agents shall have no authority to bind the
Company with respect to any prospective offer to purchase
Securities and the Company shall have the sole right to accept
offers to purchase Securities and may reject any such offer, in
whole or in part. Subject to the terms and conditions hereof,
payment of the purchase price for, and delivery of, the Securities
shall be made at one or more closings (each a “Closing” and the date on
which each Closing occurs, a “Closing Date”). As
compensation for services rendered, on each Closing Date, the
Company shall pay to the Placement Agent the fees and expenses set
forth below:

 

 

 

-1-

 

 

(i) A cash fee equal to
8% of the gross proceeds received by the Company from the sale of
the Securities at the Closing of the Offering to Investors;
provided,
however, the
Company shall not be required to pay such fee for the existing
investors of the Company or the investors set forth on Schedule A
attached hereto.

 

(ii) The
Company also agrees to pay to the Placement Agents $90,000 for
out-of-pocket expenses; provided, however, that in the event that
the Offering is terminated, the Company agrees to reimburse the
Placement Agents pursuant to Section 6 hereof.

 

(b) The Company hereby
agrees to issue to the Placement Agents (and/or its designees) on
the Closing Date, upon payment of $100.00 by the Placement Agents
on the Closing Date, warrants (“Placement Agent’s
Warrants”) to purchase that number of shares of Common
Stock equal to 5% of the aggregate number of Shares placed in the
Offering, plus any Shares underlying any convertible securities
Placed in the Offering. The Placement Agent’s Warrants shall
have the same terms, including exercise price and registration
rights, as the Series A Warrants issued to investors in the
Offering; provided,
however, in the
event no Warrants are issued to Investors, the exercise price of
the Placement Agent’s Warrants shall be 110% of the price at
which the Preferred Shares are sold to Investors provided, further that, in the event no
Preferred Shares are issued to Investors, the exercise price of the
Placement Agent’s Warrants shall be 110% of market price of
the Company’s Common Stock on the Closing Date. The Placement
Agent’s Warrant agreement, shall be exercisable, in whole or
in part, commencing on the issuance date and will have the same
terms as the Warrants issued to the Investors. The Placement
Agents’ Warrant Agreement and the shares of Common Stock and
Preferred Shares issuable upon exercise thereof are hereinafter
referred to together as the “Placement Agents’
Securities.” The Placement Agent understands and
agrees that there are significant restrictions pursuant to FINRA
Rule 5110 against transferring the Placement Agents’ Warrant
Agreement and the underlying Placement Agent’s Securities
during the one hundred eighty (180) days after the Closing Date and
by its acceptance thereof shall agree that it will not sell,
transfer, assign, pledge or hypothecate the Placement Agents’
Warrant Agreement, or any portion thereof, or be the subject of any
hedging, short sale, derivative, put or call transaction that would
result in the effective economic disposition of such securities for
a period of one hundred eighty (180) days following the Closing
Date to anyone other than (i) a selected dealer in connection with
the Offering, or (ii) a bona fide officer or partner of the
Placement Agents or selected dealer; and only if any such
transferee agrees to the foregoing lock-up restrictions. Delivery
of the Placement Agents’ Warrant Agreement shall be made on
the Closing Date and shall be issued in the name or names and in
such authorized denominations as the Placement Agents may
request.

 

(c) The term of the
Placement Agents' exclusive engagement will be until the completion
of the Offering (the “Exclusive Term”);
provided,
however, that a
party hereto may terminate the engagement with respect to itself at
any time upon fifteen (15) days written notice to the other
parties. Notwithstanding anything to the contrary contained herein,
the provisions concerning confidentiality, indemnification and
contribution contained herein and the Company’s obligations
contained in the indemnification provisions will survive any
expiration or termination of this Agreement, and the
Company’s obligation to pay fees actually earned and payable
and to reimburse expenses actually incurred and reimbursable
pursuant to Section 1 hereof and which are permitted to be
reimbursed under FINRA Rule 5110(f)(2)(D)(i), will survive any
expiration or termination of this Agreement. Nothing in this
Agreement shall be construed to limit the ability of the Placement
Agents or their Affiliates to pursue, investigate, analyze, invest
in, or engage in investment banking, financial advisory or any
other business relationship with Persons (as defined herein) other
than the Company. As used herein (i) “Persons” means an
individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or
subdivision thereof) or other entity of any kind and (ii)
“Affiliate” means any
Person that, directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under
Rule 405 under the Securities Act.

 

 

 

-2-

 

 

Section
2. Representations and Warranties. The
Company represents and warrants to the Placement Agents, as of the
date hereof and as of the Closing Date, all of the representations,
warranties and agreements of the Company that were made by the
Company to the Buyers (as defined in the Purchase Agreement) in
Section 3 of the Purchase Agreement, and that such representations
and warranties set forth in Section 3 thereof are hereby
incorporated by reference herein. The Company agrees to all of the
agreements and covenants in Section 4 of the Purchase Agreement
with respect to the Placement Agents and that such agreements and
covenants set forth in Section 4 thereof are incorporated by
reference herein.

 

Section
3. Delivery and Payment. Each Closing shall
occur at the offices of Gracin & Marlow, LLP, The Chrysler
Building,405 Lexington Avenue, 26th Floor, New York,
New York 10174 (or at such other place as shall be agreed upon by
the Placement Agents and the Company) (“Placement Agent
Counsel”). Subject to the terms and conditions hereof,
at each Closing payment of the purchase price for the Securities
sold on such Closing Date shall be made by Federal Funds wire
transfer, against delivery of such Securities, and such Securities
shall be registered in such name or names and shall be in such
denominations, as the Placement Agents may request at least one (1)
business day before the time of purchase.

 

Deliveries of the
documents with respect to the purchase of the Securities, if any,
shall be made at the offices of Placement Agent Counsel. All
actions taken at a Closing shall be deemed to have occurred
simultaneously.

 

Section
4. Covenants and Agreements of the Company.
The Company further covenants and agrees with the Placement Agent
as follows:

 

(a) Intentionally
Omitted.

 

(b) Blue Sky Compliance. The
Company will cooperate with the Placement Agents and the Investors
in endeavoring to qualify the Securities for sale under the
securities laws of such jurisdictions (United States and foreign)
as the Placement Agents and the Investors may reasonably request
and will make such applications, file such documents, and furnish
such information as may be reasonably required for that purpose,
provided the Company shall not be required to qualify as a foreign
corporation or to file a general consent to service of process in
any jurisdiction where it is not now so qualified or required to
file such a consent, and provided further that the Company shall
not be required to produce any new disclosure document other than
the Transaction Documents. The Company will, from time to time,
prepare and file such statements, reports and other documents as
are or may be required to continue such qualifications in effect
for so long a period as the Placement Agents may reasonably request
for distribution of the Securities. The Company will advise the
Placement Agents promptly of the suspension of the qualification or
registration of (or any such exemption relating to) the Securities
for offering, sale or trading in any jurisdiction or any initiation
or threat of any proceeding for any such purpose, and in the event
of the issuance of any order suspending such qualification,
registration or exemption, the Company shall use its best efforts
to obtain the withdrawal thereof at the earliest possible
moment.

 

(c) Amendments and Supplements to the
Transaction Documents and Other Matters. The Company will
comply with the Securities Act and the Securities Exchange Act of
1934, and the rules and regulations of the Commission thereunder,
so as to permit the completion of the distribution of the
Securities as contemplated in this Agreement and the Transaction
Documents. If, prior to the termination of the Offering, any event
shall occur as a result of which, in the judgment of the Company or
in the opinion of the Placement Agents or counsel for the Placement
Agents, it becomes necessary to amend or supplement the Transaction
Documents in order to make the statements therein, in the light of
the circumstances under which they were made, as the case may be,
not misleading, or if it is necessary at any time to amend or
supplement the Transaction Documents, the Company will promptly
prepare and furnish at its own expense to the Placement Agent and
to dealers, an appropriate amendment or supplement to the
Transaction Documents that is necessary in order to make the
statements therein as so amended or supplemented, in the light of
the circumstances under which they were made, as the case may be,
not misleading, or so that the Transaction Documents, as so amended
or supplemented, will comply with law. Before amending or
supplementing Transaction Documents in connection with the
Offering, the Company will furnish the Placement Agents with a copy
of such proposed amendment or supplement and will disseminate any
such amendment or supplement to which the Placement Agents
reasonably objects.

 

 

 

-3-

 

 

(d) Copies of any Amendments and
Supplements to the Transaction Documents. The Company will
furnish the Placement Agents, without charge, during the period
beginning on the date hereof and ending on the later of the last
Closing Date of the Offering, as many copies of the Transaction
Documents and any amendments and supplements thereto as the
Placement Agents may reasonably request.

 

(e) Intentionally
Omitted.

 

(f) Transfer Agent. The Company
will maintain, at its expense, a registrar and transfer agent for
the Common Stock and the Preferred Shares.

 

(g) Intentionally
Omitted.

 

(h) Intentionally
Omitted.

 

(i) Additional
Documents. The
Company will enter into any subscription, purchase or other
customary agreements as the Placement Agents or the Investors
reasonably deem necessary or appropriate to consummate the
Offering, all of which will be in form and substance reasonably
acceptable to the Placement Agents and the Investors. The Company
agrees that the Placement Agents may rely upon, and each is a third
party beneficiary of, the representations and warranties, and
applicable covenants, set forth in any such purchase, subscription
or other agreement with Investors in the Offering.

 

(j) No Manipulation of
Price.  The
Company will not take, directly or indirectly, any action designed
to cause or result in, or that has constituted or might reasonably
be expected to constitute, the stabilization or manipulation of the
price of any securities of the Company.

 

(k) Acknowledgment. The Company
acknowledges that any advice given by the Placement Agents to the
Company is solely for the benefit and use of the Board of Directors
of the Company and may not be used, reproduced, disseminated,
quoted or referred to, without the Placement Agents' prior written
consent.

 

Intentionally
Omitted.

 

Section
5. Conditions of the Obligations of the Placement
Agents. The obligations of the Placement Agents hereunder
shall be subject to the accuracy of the representations and
warranties on the part of the Company set forth in Section 2
hereof, in each case as of the date hereof and as of each Closing
Date as though then made, to the timely performance by each of the
Company of its covenants and other obligations hereunder on and as
of such dates, and to each of the following additional
conditions:

 

(a) No Untrue Statements. The
Placement Agents shall not have discovered and disclosed to the
Company on or prior to the Closing Date that the SEC Filings
contains an untrue statement of a fact which, in the opinion of
Placement Agents’ Counsel, is material or omits to state
any fact which, in the opinion of such counsel, is material
and is required to be stated therein or is necessary to make
the statements therein not misleading..

 

(b) Compliance with Regulatory
Requirements. No order having the effect of ceasing or
suspending the distribution of the Securities or any other
securities of the Company shall have been issued by any securities
commission, securities regulatory authority or stock exchange and
no proceedings for that purpose shall have been instituted or shall
be pending or, to the knowledge of the Company, contemplated by any
securities commission, securities regulatory authority or stock
exchange.

 

 

 

-4-

 

 

(c) Corporate Proceedings. All
corporate proceedings and other legal matters in connection with
this Agreement, the Transaction Documents, and the registration or
exemption therefrom, sale and delivery of the Securities, shall
have been completed or resolved in a manner reasonably satisfactory
to the Placement Agent Counsel, and such counsel shall have been
furnished with such papers and information as it may reasonably
have requested to enable such counsel to pass upon the matters
referred to in this Section 5.

 

(d) No Material Adverse Change.
Subsequent to the execution and delivery of this Agreement and
prior to each Closing Date, in the Placement Agents’ sole
judgment after consultation with the Company, there shall not have
occurred any Material Adverse Effect (as defined in the Purchase
Agreement).

 

(e) Opinion of Counsel for the
Company. The Placement Agents shall have received on each
Closing Date the favorable opinion of Disclosure Law Group, legal
counsel to the Company, dated as of such Closing Date.

 

(f) Secretary’s Certificate.
At the Closing Date, the Placement Agents shall have received a
certificate of the Company signed by the Secretary of the Company,
dated the Closing Date certifying: (i) that each of the
Company’s charter, bylaws and Certificate of Designation is
true and complete, has not been modified and is in full force and
effect; (ii) that the resolutions of the Company’s Board of
Directors relating to the Offering are in full force and effect and
have not been modified; (iii) as to the accuracy and completeness
of all correspondence between the Company or its counsel and the
Commission; and (iv) as to the incumbency of the officers of the
Company. The documents referred to in such certificate shall be
attached to such certificate..

 

(g) Officer’s Certificate..
The Placement Agents shall have received on each Closing Date a
certificate of the Company, dated as of such Closing Date, signed
by the Chief Executive Officer and Chief Financial Officer of the
Company, to the effect that, and the Placement Agents shall be
satisfied that, the signers of such certificate have reviewed this
Agreement and the Transaction Documents and to the further effect
that:

 

(h) Intentionally
Omitted.

 

(i) Stock Exchange Listing. The
Common Stock shall be registered under the Exchange Act and shall
be listed on the Trading Market, and the Company shall not have
taken any action designed to terminate, or likely to have the
effect of terminating, the registration of the Common Stock
under the Exchange Act or delisting or suspending from trading the
Common Stock from the Trading Market, nor shall the Company have
received any information suggesting that the Commission or the
Trading Market is contemplating terminating such registration or
listing. “Trading
Market” means the Nasdaq Capital Market.

 

(j) Placement Agents’ Warrant
Agreements. On or before the Closing Date, the Placement
Agents shall have received executed copies of the Placement
Agents’ Warrant Agreements, provided the Company has received
the Placement Agents’ designees for such Warrant Agreements
at least two (2) business days prior to Closing Date.

 

(k) Lock-Up Agreements. On or
before the date of this Agreement, the Company shall have delivered
to the Placement Agents executed copies of the Lock-Up Agreements
from each of the Lock-Up Parties set forth in the Purchase
Agreement.

 

(l) Additional Documents. On or
before each Closing Date, the Placement Agents and counsel for the
Placement Agents shall have received such information and documents
as they may reasonably require for the purposes of enabling them to
pass upon the issuance and sale of the Securities as contemplated
herein, or in order to evidence the accuracy of any of the
representations and warranties, or the satisfaction of any of the
conditions or agreements, herein contained.

 

 

 

-5-

 

 

If any
condition specified in this Section 5 is not satisfied when and as
required to be satisfied, this Agreement may be terminated by the
Placement Agents by notice to the Company at any time on or prior
to a Closing Date, which termination shall be without liability on
the part of any party to any other party, except that Section 6
(Payment of Expenses), Section 7 (Indemnification and Contribution)
and Section 8 (Representations and Indemnities to Survive Delivery)
shall at all times be effective and shall survive such
termination.

 

Section
6. Payment of Expenses. The Company agrees
to pay all costs, fees and expenses incurred by the Company in
connection with the performance of its obligations hereunder and in
connection with the transactions contemplated hereby, including,
without limitation: (i) all expenses incident to the issuance,
delivery and qualification of the Securities (including all
printing and engraving costs); (ii) all fees and expenses of the
registrar and transfer agent of the Common Stock and Preferred
Shares; (iii) all necessary issue, transfer and other stamp taxes
in connection with the issuance and sale of the Securities;
(iv) all fees and expenses of the Company’s counsel,
independent public or certified public accountants and other
advisors; (v) all costs and expenses incurred in connection with
the preparation, printing, filing, shipping and distribution of the
Transaction Documents, and all amendments and supplements thereto,
and this Agreement; (vi) all filing fees, reasonable
attorneys’ fees and expenses incurred by the Company or the
Placement Agents in connection with qualifying or registering (or
obtaining exemptions from the qualification or registration of) all
or any part of the Securities for offer and sale under the state
securities or blue sky laws or the securities laws of any other
country, and, if requested by the Placement Agents, preparing and
printing a “Blue Sky
Survey,” an “International Blue Sky
Survey” or other memorandum, and any supplements
thereto, advising the Placement Agents of such qualifications,
registrations and exemptions; (vii) the fees and expenses
associated with including the Securities on the Trading Market;
(viii) the costs associated with post-Closing advertising the
Offering in the national editions of the Wall Street Journal and
New York Times; and (ix) the fees and expenses of the Placement
Agents’ due diligence and legal counsel not to exceed
$90,000; provided,
however, if the
Engagement Agreement (as defined herein) between the Company and
ThinkEquity is terminated without an offering then such amount
shall not exceed $90,000. The Advance of $15,000 paid by the
Company in connection the Engagement Agreement, dated January 29,
2019 by and between the Company and ThinkEquity shall be applied
towards the fees and expenses of the Placement Agents’ due
diligence and legal counsel.

 

Section
7. Indemnification and
Contribution.

 

(a) The
Company agrees to indemnify and hold harmless the Placement Agents,
their Affiliates and each person controlling the Placement Agents
(within the meaning of Section 15 of the Securities Act), and the
directors, officers, agents and employees of the Placement Agents,
their Affiliates and each such controlling person (the Placement
Agents, and each such entity or person. an “Indemnified Person”) from
and against any losses, claims, damages, judgments, assessments,
costs and other liabilities (collectively, the “Liabilities”), and shall
reimburse each Indemnified Person for all fees and expenses
(including the reasonable fees and expenses of one counsel for all
Indemnified Persons, except as otherwise expressly provided herein)
(collectively, the “Expenses”) as they are
incurred by an Indemnified Person in investigating, preparing,
pursuing or defending any Actions, whether or not any Indemnified
Person is a party thereto, (i) caused by, or arising out of or in
connection with, any untrue statement or alleged untrue statement
of a material fact contained in any Transaction Document or by any
omission or alleged omission to state therein a material fact
necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading (other
than untrue statements or alleged untrue statements in, or
omissions or alleged omissions from, information relating to an
Indemnified Person furnished in writing by or on behalf of such
Indemnified Person expressly for use in the Transaction Documents)
or (ii) otherwise arising out of or in connection with advice or
services rendered or to be rendered by any Indemnified Person
pursuant to this Agreement, the transactions contemplated thereby
or any Indemnified Person's actions or inactions in connection with
any such advice, services or transactions; provided, however, that, the Company
shall not be responsible for any Liabilities or Expenses of any
Indemnified Person that are finally judicially determined to have
resulted solely from such Indemnified Person's (x) gross negligence
or willful misconduct in connection with any of the advice,
actions, inactions or services referred to above or (y) use of any
offering materials or information concerning the Company in
connection with the offer or sale of the Securities in the Offering
which were not authorized for such use by the Company and which use
constitutes gross negligence or willful misconduct. The Company
also agrees to reimburse each Indemnified Person for all Expenses
as they are incurred in connection with enforcing such Indemnified
Person's rights under this Agreement.

 

 

 

-6-

 

 

(b)           Upon
receipt by an Indemnified Person of actual notice of an Action
against such Indemnified Person with respect to which indemnity may
be sought under this Agreement, such Indemnified Person shall
promptly notify the Company in writing; provided that failure by
any Indemnified Person so to notify the Company shall not relieve
the Company from any liability which the Company may have on
account of this indemnity or otherwise to such Indemnified Person,
except to the extent the Company shall have been prejudiced by such
failure. The Company shall, if requested by the Placement Agent,
assume the defense of any such Action including the employment of
counsel reasonably satisfactory to the Placement Agents, which
counsel may also be counsel to the Company. Any Indemnified Person
shall have the right to employ separate counsel in any such action
and participate in the defense thereof, but the fees and expenses
of such counsel shall be at the expense of such Indemnified Person
unless: (i) the Company has failed promptly to assume the defense
and employ counsel or (ii) the named parties to any such Action
(including any impeded parties) include such Indemnified Person and
the Company, and such Indemnified Person shall have been advised in
the reasonable opinion of counsel that there is an actual conflict
of interest that prevents the counsel selected by the Company from
representing both the Company (or another client of such counsel)
and any Indemnified Person; provided that the Company shall not in
such event be responsible hereunder for the fees and expenses of
more than one firm of separate counsel for all Indemnified Persons
in connection with any Action or related Actions (as defined
herein), in addition to any local counsel. The Company shall not be
liable for any settlement of any Action effected without its
written consent (which shall not be unreasonably withheld). In
addition, the Company shall not, without the prior written consent
of the Placement Agents (which shall not be unreasonably withheld),
settle, compromise or consent to the entry of any judgment in or
otherwise seek to terminate any pending or threatened Action in
respect of which indemnification or contribution may be sought
hereunder (whether or not such Indemnified Person is a party
thereto) unless such settlement, compromise, consent or termination
includes an unconditional release of each Indemnified Person from
all Liabilities arising out of such Action for which
indemnification or contribution may be sought hereunder. The
indemnification required hereby shall be made by periodic payments
of the amount thereof during the course of the investigation or
defense, as such expense, loss, damage or liability is incurred and
is due and payable. “Action” means any action,
suit, inquiry, notice of violation, proceeding or investigation
affecting the Company, any Subsidiary or any of their respective
properties before or by any court, arbitrator, governmental or
administrative agency or regulatory authority (federal, state,
county, local or foreign).

 

(c)           In
the event that the foregoing indemnity is unavailable to an
Indemnified Person other than in accordance with this Agreement,
the Company shall contribute to the Liabilities and Expenses paid
or payable by such Indemnified Person in such proportion as is
appropriate to reflect (i) the relative benefits to the Company, on
the one hand, and to the Placement Agents and any other Indemnified
Person, on the other hand, of the matters contemplated by this
Agreement or (ii) if the allocation provided by the immediately
preceding clause is not permitted by applicable law, not only such
relative benefits but also the relative fault of the Company, on
the one hand, and the Placement Agents and any other Indemnified
Person, on the other hand, in connection with the matters as to
which such Liabilities or Expenses relate, as well as any other
relevant equitable considerations; provided that in no event shall
the Company contribute less than the amount necessary to ensure
that all Indemnified Persons, in the aggregate, are not liable for
any Liabilities and Expenses in excess of the amount of fees
actually received by the Placement Agents pursuant to this
Agreement. For purposes of this paragraph, the relative benefits to
the Company, on the one hand, and to the Placement Agents on the
other hand, of the matters contemplated by this Agreement shall be
deemed to be in the same proportion as (a) the total value paid or
contemplated to be paid to or received or contemplated to be
received by the Company in the transaction or transactions that are
within the scope of this Agreement, whether or not any such
transaction is consummated, bears to (b) the fees paid to the
Placement Agents under this Agreement. Notwithstanding the above,
no person guilty of fraudulent misrepresentation within the meaning
of Section 11(f) of the Securities Act, as amended, shall be
entitled to contribution from a party who was not guilty of
fraudulent misrepresentation.

 

 

 

-7-

 

 

(d)           The
Company also agrees that no Indemnified Person shall have any
liability (whether direct or indirect, in contract or tort or
otherwise) to the Company for or in connection with advice or
services rendered or to be rendered by any Indemnified Person
pursuant to this Agreement, the transactions contemplated thereby
or any Indemnified Person's actions or inactions in connection with
any such advice, services or transactions except for Liabilities
(and related Expenses) of the Company that are finally judicially
determined to have resulted solely from such Indemnified Person's
gross negligence or willful misconduct in connection with any such
advice, actions, inactions or services.

 

(e)           The
reimbursement, indemnity and contribution obligations of the
Company set forth herein shall apply to any modification of this
Agreement and shall remain in full force and effect regardless of
any termination of, or the completion of any Indemnified Person's
services under or in connection with, this Agreement.

 

Section
8. Representations and Indemnities to Survive
Delivery. The respective indemnities, agreements,
representations, warranties and other statements of the Company or
any person controlling the Company, of its officers, and of the
Placement Agents set forth in or made pursuant to this Agreement
will remain in full force and effect, regardless of any
investigation made by or on behalf of the Placement Agent, the
Company, or any of its or their partners, officers or directors or
any controlling person, as the case may be, and will survive
delivery of and payment for the Securities sold hereunder and any
termination of this Agreement. A successor to a Placement Agents,
or to the Company, its directors or officers or any person
controlling the Company, shall be entitled to the benefits of the
indemnity, contribution and reimbursement agreements contained in
this Agreement.

 

Section
9. Notices. All communications hereunder
shall be in writing and shall be mailed, hand delivered or
telecopied and confirmed to the parties hereto as
follows:

 

If to
the Placement Agent to:

 

ThinkEquity

17
State Street, 22nd Floor

New
York, NY 10004

Attn:
Mr. Eric Lord, Head of Investment Banking

Fax:
(212) 349-2550

Email:
notices@think-equity.com

 

With a copy to:

 

Gracin
& Marlow, LLP

The
Chrysler Building

405
Lexington Avenue, 26th Floor New York, NY
101174

Facsimile:
(212) 907-6457

Attention:
Leslie Marlow, Esq.

 

If to
the Company:

 

Bridgeline
Digital, Inc.

100
Summit Drive

Burlington,
MA 01803

Telephone:
(781) 376-5555

Attention: Ari Kahn, CEO

E-mail:
akahn@bridgeline.com

 

with a copy (for informational purposes only) to:

 

Disclosure
Law Group, a Professional Corporation

600
West Broadway, Suite 700

San
Diego, CA 92101

Telephone:
(619) 272-7050

Facsimile:
(619) 330-2101

Attention:
Daniel W. Rumsey, Esq.

Email:
drumsey@disclosurelawgroup.com

 

 

 

 

-8-

 

 

Any
party hereto may change the address for receipt of communications
by giving written notice to the others.

 

Section
10. Right of First Refusal. The Placement
Agent shall have an irrevocable right of first refusal (the
“Right of First
Refusal”), to act as sole financial advisor, sole
investment banker, sole book-runner, and/or sole placement agent,
at the Placement Agent’s sole discretion, for each and every
future public and private equity and debt offering (each, a
“Subject
Transaction”), during the six (6) month period after
the Closing Date, of the Company, or any successor to or subsidiary
of the Company, on terms and conditions customary to the Placement
Agents for such Subject Transactions. For the avoidance of any
doubt, the Company shall not retain, engage or solicit any
additional investment banker, book-runner, financial advisor,
underwriter and/or placement agent in a Subject Transaction without
the express written consent of the Placement Agents.

 

Section
11. Successors. This Agreement will inure to
the benefit of and be binding upon the parties hereto, and to the
benefit of the employees, officers and directors and controlling
persons referred to in Section 7 hereof, and to their respective
successors, and personal representative, and no other person will
have any right or obligation hereunder.

 

Section
12. Partial Unenforceability. The invalidity
or unenforceability of any section, paragraph or provision of this
Agreement shall not affect the validity or enforceability of any
other section, paragraph or provision hereof. If any Section,
paragraph or provision of this Agreement is for any reason
determined to be invalid or unenforceable, there shall be deemed to
be made such minor changes (and only such minor changes) as are
necessary to make it valid and enforceable.

 

Section
13. Governing Law Provisions. This Agreement
shall be deemed to have been made and delivered in New York City
and both this Agreement and the transactions contemplated hereby
shall be governed as to validity, interpretation, construction,
effect and in all other respects by the internal laws of the State
of New York, without regard to the conflict of laws principles
thereof. Each of the Placement Agent and the Company: (i) agrees
that any legal suit, action or proceeding arising out of or
relating to this Agreement and/or the transactions contemplated
hereby shall be instituted exclusively in New York Supreme Court,
County of New York, or in the United States District Court for the
Southern District of New York, (ii) waives any objection which it
may have or hereafter to the venue of any such suit, action or
proceeding, and (iii) irrevocably consents to the jurisdiction of
the New York Supreme Court, County of New York, and the United
States District Court for the Southern District of New York in any
such suit, action or proceeding. Each of the Placement Agent and
the Company further agrees to accept and acknowledge service of any
and all process which may be served in any such suit, action or
proceeding 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 agrees that service of process upon the Company mailed by
certified mail to the Company’s address shall be deemed in
every respect effective service of process upon the Company, in any
such suit, action or proceeding, and service of process upon the
Placement Agent mailed by certified mail to the Placement
Agent’s address shall be deemed in every respect effective
service process upon the Placement Agent, in any such suit, action
or proceeding. Notwithstanding any provision of this Agreement to
the contrary, the Company agrees that neither the Placement Agent
nor its Affiliates, and the respective officers, directors,
employees, agents and representatives of the Placement Agent, its
Affiliates and each other person, if any, controlling the Placement
Agent or any of its Affiliates, shall have any liability (whether
direct or indirect, in contract or tort or otherwise) to the
Company for or in connection with the engagement and transaction
described herein except for any such liability for losses, claims,
damages or liabilities incurred by us that are finally judicially
determined to have resulted from the bad faith or gross negligence
of such individuals or entities. If either party shall commence an
action or proceeding to enforce any provision of this Agreement,
then the prevailing party in such action or proceeding shall be
reimbursed by the other party for its reasonable attorney’s
fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or
proceeding.

 

 

 

-9-

 

 

Section
14. General Provisions.

 

(a)           This
Agreement constitutes the entire agreement of the parties to this
Agreement and supersedes all prior written or oral and all
contemporaneous oral agreements, understandings and negotiations
with respect to the subject matter hereof. Notwithstanding anything
herein to the contrary, the Engagement Agreement, dated January 29,
2019, as amended February 4, 2019 (the “Engagement Agreement”),
between the Company and ThinkEquity shall continue to be effective
and the terms therein shall continue to survive and be enforceable
by the in accordance with its terms, provided that, in the event of
a conflict between the terms of the Engagement Agreement and this
Agreement, the terms of this Agreement shall prevail shall continue
to be effective and the terms therein shall continue to survive and
be enforceable by the Placement Agents in accordance with its
terms. This Agreement may be executed in two or more counterparts,
each one of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument.
This Agreement may not be amended or modified unless in writing by
all of the parties hereto, and no condition herein (express or
implied) may be waived unless waived in writing by each party whom
the condition is meant to benefit. Section headings herein are for
the convenience of the parties only and shall not affect the
construction or interpretation of this Agreement.

 

(b)           The
Company acknowledges that in connection with the offering of the
Securities: (i) the Placement Agents have acted at arms length, are
not agents of, and owe no fiduciary duties to the Company or any
other person, (ii) the Placement Agent owes the Company only those
duties and obligations set forth in this Agreement and (iii) the
Placement Agents may have interests that differ from those of the
Company. The Company waives to the full extent permitted by
applicable law any claims it may have against the Placement Agents
arising from an alleged breach of fiduciary duty in connection with
the offering of the Securities.

 

Section
15. Fee Tail. ThinkEquity shall be entitled
to the Placement Fee and Placement Agent’s Warrants with
respect to any private or public financing or other capital raising
transaction of any kind consummated within 24 months period of the
termination or expiration of this Agreement with an investor whom
ThinkEquity has, directly or indirectly, introduced to the Company
in connection with the Offering or during the term of this
Agreement.

 

 

 

[The
remainder of this page has been intentionally left
blank.]

 

 

-10-

 

If the
foregoing is in accordance with your understanding of our
agreement, please sign below whereupon this instrument, along with
all counterparts hereof, shall become a binding agreement in
accordance with its terms.

 

Very
truly yours,

 

BRIDGELINE
DIGITAL, INC.

a
Delaware corporation

 

 

By:                                                           

Name:

Title:

 

 

 

The
foregoing Placement Agency Agreement is hereby confirmed and
accepted as of the date first above written.

 

THINKEQUITY, A DIVISION OF FORDHAM FINANCIAL MANAGEMENT,
INC.

 

 

By:                                                         

Name:

Title:

 

 

TAGLICH BROTHERS, INC.

 

 

By:                                                         

Name:

Title:

 

 

 

-11-

 

Schedule A

 

 

Excluded
Investors

 

 

 

 

 

 

-12-Exhibit 10.1

    

    

      Execution Version

      

      

      

      

      

      

      

      

      

      

      SECURITIES PURCHASE AGREEMENT

       

        

      by and between

       

        

      MERCADOLIBRE, INC.

       

        

      and

       

        

      PAYPAL, INC.

       

        

       March 11, 2019

       

        

       

        

       

        

       

        

      
        
          

      

      	 	 	 	
              Page

            
	
              Securities Purchase Agreement

            	
              1

            
	
              1.

            	Definitions

            	
              1

            
	
              2.

            	
              Authorization, Purchase and Sale of the Securities.

            	
              4

            
	 	
              2.1

            	
              Authorization, Purchase and Sale.

            	
              4

            
	 	
              2.2

            	
              Closing.

            	
              4

            
	
              3.

            	
              Representations and Warranties of the Company

            	
              5

            
	 	
              3.1

            	
              Organization and Power.

            	
              5

            
	 	
              3.2

            	
              Authorization

            	
              5

            
	 	
              3.3

            	
              The Subject Shares

            	
              5

            
	 	
              3.4

            	
              Capitalization

            	
              5

            
	 	
              3.5

            	
              No Conflict

            	
              5

            
	 	
              3.6

            	
              Consents

            	
              6

            
	 	
              3.7

            	
              Financial Statements.

            	
              6

            
	 	
              3.8

            	
              Litigation

            	
              6

            
	 	
              3.9

            	
              Title to Properties

            	
              6

            
	 	
              3.10

            	
              Intellectual Property

            	 7

            
	 	
              3.11

            	
              No Undisclosed Relationships

            	
              7

            
	 	
              3.12

            	
              Permits

            	
              7

            
	 	
              3.13

            	
              No Labor Disputes

            	
              7

            
	 	
              3.14

            	
              Environmental Compliance

            	 8

            
	 	
              3.15

            	
              Taxes

            	
              8

            
	 	
              3.16

            	
              Insurance

            	
              8

            
	 	
              3.17

            	
              No Unlawful Payments

            	
              8

            
	 	
              3.18

            	
              Compliance with Anti-Money Laundering Laws

            	
              9

            
	 	
              3.19

            	
              No Conflicts with Sanctions Laws

            	
              9

            
	 	
              3.20

            	
              No Integration

            	
              9

            
	 	
              3.21

            	
              No General Solicitation or Directed Selling Efforts

            	
              9

            
	 	
              3.22

            	
              Securities Law Exemptions

            	
              9

            
	 	
              3.23

            	
              Absence of Certain Changes

            	 10

            
	 	
              3.24

            	
              No Defaults

            	
              10

            
	 	
              3.25

            	
              Brokers

            	
              10

            
	 	
              3.26

            	
              NASDAQ

            	
              10

            
	 	
              3.27

            	
              U.S. Activities

            	
              10

            
	 	
              3.29

            	
              Other Private Placements

            	
              10

            
	 	
              3.30

            	
              No Other Representations and Warranties

            	
              11

            

      

      

      
        
          

      

      	
              4.

            	
              Representations and Warranties of the Purchaser

            	
              11

            
	 	
              4.1

            	
              Organization

            	
              11

            
	 	
              4.2

            	
              Authorization

            	
              11

            
	 	
              4.3

            	
              No Conflict

            	
              11

            
	 	
              4.4

            	
              Consents

            	
              12

            
	 	
              4.5

            	
              Brokers

            	
              12

            
	 	
              4.6

            	
              Purchase Entirely for Own Account

            	
              12

            
	 	
              4.7

            	
              Investor Status

            	
              12

            
	 	
              4.8

            	
              Information.

            	
              12

            
	 	
              4.9

            	
              Securities Not Registered.

            	
              12

            
	 	
              4.10

            	
              Financing

            	
              13

            
	 	
              4.11

            	
              Non-Reliance

            	
              13

            
	
              5.

            	 	
              Covenants.

            	
              13

            
	 	
              5.1

            	
              Rule 144 Reporting.

            	
              13

            
	 	
              5.2

            	
              Trading of Company Securities.

            	
              14

            
	 	
              5.3

            	
              Lock-Up.

            	
              14

            
	 	
              5.4

            	
              Board Observer

            	
              14

            
	 	
              5.5

            	
              Cooperation

            	
              15

            
	
              6.

            	
              Conditions Precedent.

            	
              15

            
	 	
              6.1

            	
              Mutual Conditions of Closing

            	
              15

            
	 	
              6.2

            	
              Conditions to the Obligation of the Purchaser to Consummate the Closing

            	
              15

            
	 	
              6.3

            	
              Conditions to the Obligation of the Company to Consummate the Closing

            	
              16

            
	
              7.

            	
              Legends; Securities Act Compliance

            	
              16

            
	
              8.

            	
              Termination.

            	
              16

            
	 	
              8.1

            	
              Conditions of Termination

            	
              16

            
	 	
              8.2

            	
              Effect of Termination

            	
              16

            
	
              9.

            	
              Miscellaneous Provisions.

            	
              17

            
	 	
              9.1

            	
              Survival

            	
              17

            
	 	
              9.2

            	
              Interpretation

            	
              17

            
	 	
              9.3

            	
              Notices

            	
              18

            
	 	
              9.4

            	
              Severability

            	
              18

            
	 	
              9.5

            	
              Governing Law; Jurisdiction; WAIVER OF JURY TRIAL.

            	
              19

            
	 	
              9.6

            	
              Delays or Omissions; Waiver

            	
              19

            
	 	
              9.7

            	
              Specific Performance

            	
              19

            
	 	
              9.8

            	
              Fees; Expenses.

            	
              19

            
	 	
              9.9

            	
              Assignment

            	
              19

            
	 	
              9.10

            	
              No Third Party Beneficiaries

            	 20

            
	 	
              9.11

            	
              Counterparts

            	
              20

            
	 	
              9.12

            	
              Entire Agreement; Amendments

            	 20

            
	 	
              9.13

            	
              No Personal Liability of Directors, Officers, Owners, Etc

            	 20

            
	 	 	 	 

      
        
          

      

      
      Securities Purchase Agreement

       

            

      SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as
          of March 11, 2019, by and between MercadoLibre, Inc., a Delaware corporation (the “Company”), and PayPal, Inc., a Delaware corporation (the “Purchaser”).

       

        

      WHEREAS, concurrently with the execution and delivery of this Agreement, the Company entered into a Securities Purchase Agreement with
          Dragoneer Investment Group, LLC (“Dragoneer”) pursuant to which Dragoneer will purchase preferred securities of the Company for aggregate consideration of $100,000,000
          (the “Concurrent Private Placement”);

       

        

      WHEREAS, on the date hereof, the Company will file a Registration Statement on Form S-3ASR and a prospectus supplement thereto with the
          U.S. Securities and Exchange Commission (the “SEC”) registering the sale of shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”) and announcing the Company’s intention to complete a sale of shares of the Common Stock, which sale is expected to be completed on or prior to March 15, 2019
          (the “Concurrent Public Offering”);

       

        

      WHEREAS, subject to the terms and conditions set forth herein, the Company desires to issue and sell to the Purchaser, and the Purchaser
          desires to purchase from the Company, the Subject Shares (as defined below);

       

        

      WHEREAS, the Board (as defined below) has (i) determined that it is in the best interests of the Company and its stockholders, and
          declared it advisable, to enter into this Agreement providing for the transactions contemplated hereby in accordance with the General Corporation Law of the State of Delaware (the “DGCL”),

          upon the terms and subject to the conditions set forth herein and therein, and (ii) approved the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby in accordance with the DGCL, upon
          the terms and conditions contained herein and therein; and

       

        

      WHEREAS, the Purchaser has approved the execution, delivery and performance of this Agreement and the consummation of the transactions
          contemplated hereby in accordance with applicable Law (as defined below), upon the terms and conditions contained herein.

          

        

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

       

        

      1.          Definitions. 

          As used in this Agreement, the following terms shall have the following respective meanings:

       

        

      “Affiliate” means, with respect to any Person, any other
          Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, such specified Person.

       

        

      “Agreement” shall have the meaning set forth in the
          preamble.

       

        

      “Anti-Money Laundering Laws” shall have the meaning set
          forth in Section 3.18.

       

        

      “Bankruptcy and Equity Exception” shall have the meaning set
          forth in Section 3.2.

       

        

      “Board” shall mean the Board of Directors of the Company.

      
        1

        
          

      

      “Board Documents” shall have the meaning set forth in Section 5.4.

       

        

      “Business Day” shall mean any day, other than a Saturday,
          Sunday and any day which is a legal holiday under the laws of the State of New York or California or is a day on which banking institutions located in the State of New York or California are authorized or required by Law or other governmental
          action to close.

       

        

      “Capital Stock” shall mean, with respect to any Person, any
          and all shares of stock, partnership interests or other equivalent interests (however designated, whether voting or non-voting) in such Person’s equity.

       

        

      “Common Stock” shall have the meaning set forth in the
          recitals.

       

        

      “Closing” shall have the meaning set forth in Section 2.2(a).

       

        

      “Closing Date” shall have the meaning set forth in Section 2.2(a).

       

        

      “Company” shall have the meaning set forth in the preamble.

       

        

      “Concurrent Public Offering” shall have the meaning set
          forth in the recitals.

          

        

      “Consent” shall have the meaning set forth in Section 3.5.

       

        

      “control” (including the terms “controlling,” “controlled by” and “under common
              control with”) with respect to any Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such Person, whether through the ownership of Equity
          Securities, by contract or otherwise.

       

        

      “Delaware Court” shall have the meaning set forth in Section 9.5(b).

       

        

      “DGCL” shall have the meaning set forth in the recitals.

       

        

      “Environmental Laws” shall have the meaning set forth in Section 3.10.

       

        

      “Equity Securities” shall mean, with respect to any Person,
          (i) shares of Capital Stock of, or other equity or voting interest in, such Person, (ii) any securities convertible into or exchangeable for shares of Capital Stock of, or other equity or voting interest in, such Person, (iii) options, warrants,
          rights or other commitments or agreements to acquire from such Person, or that obligates such Person to issue, any Capital Stock of, or other equity or voting interest in, or any securities convertible into or exchangeable for shares of Capital
          Stock of, or other equity or voting interest in, such Person, and (iv) obligations of such Person to grant, extend or enter into any subscription, warrant, right, convertible or exchangeable security or other similar agreement or commitment
          relating to any Capital Stock of, or other equity or voting interest (including any voting debt) in, such Person.

       

        

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

       

        

      “FCPA” shall have the meaning set forth in Section 3.17.

       

        

      “GAAP” shall mean U.S. generally accepted accounting
          principles.

       

        

      
        2

        
          

      

      “Governmental Entity” shall mean any United States or
          non-United States federal, state or local government, or any agency, bureau, board, commission, department, tribunal or instrumentality thereof or any court, tribunal, or arbitral or judicial body, including NASDAQ.

       

        

      “HMT” shall have the meaning set forth in Section 3.19.

          

        

      “Lock-Up Expiration Date” has the meaning set forth in Section 5.4.

       

        

      “Law” shall mean any applicable law, statute, code,
          ordinance, rule, regulation, or agency requirement of or undertaking to or agreement with any Governmental Entity, including common law.

       

        

      “Lien” shall mean any lien, charge, pledge, security
          interest, claim or other encumbrance.

       

        

      “Material Adverse Effect” means any change, event, effect or
          circumstance (each, an “Effect”) that, individually or taken together with all other Effects that have occurred prior to, and are continuing as of, the date of
          determination of the occurrence of the Material Adverse Effect, has a material adverse effect on the business, properties, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its
          Subsidiaries taken as a whole.

       

        

      “NASDAQ” shall mean Nasdaq Global Market (or its successor).

          

        

      “Observer” shall have the meaning set forth in Section 5.4.

       

        

      “OFAC” shall have the meaning set forth in Section 3.19.

       

        

      “Organizational Document” shall mean, as applicable, an
          entity’s agreement or certificate of limited partnership, limited liability company agreement, certificate of formation, certificate or articles of incorporation, bylaws or other similar organizational documents.

       

        

      “Per Share Purchase Price” shall mean the lesser of (i)
          $436.10 and (ii) the public offering price per share of Common Stock in the Concurrent Public Offering.

       

        

      “Person” shall mean any individual, corporation, limited
          liability company, limited or general partnership, joint venture, association, joint-stock company, trust, unincorporated organization, government, any agency or political subdivisions thereof or other “Person” as contemplated by Section 13(d) of
          the Exchange Act.

       

        

      “Purchase Price” shall have the meaning set forth in Section 2.1.

       

        

      “Purchaser” shall have the meaning set forth in the
          preamble.

       

        

      “Purchaser Adverse Effect” shall have the meaning set forth
          in the Section 4.3.

       

        

      “Representatives” shall mean, with respect to any Person,
          such Person’s Affiliates and such Person’s and each such Affiliate’s respective directors, officers, employees, managers, trustees, principals, stockholders, members, general or limited partners, agents and other representatives.

       

        

      “Rule 144” shall have the meaning set forth in Section 4.8(a).

       

        

      “Sanctioned Country” shall have the meaning set forth in Section 3.19.

       

        

      “SEC” shall mean have the meaning set forth in the recitals.

      
        3

        
          

      

       

        

      “SEC Reports” shall mean (i) the Company’s Form 10-K for the
          fiscal year ended December 31, 2018 and (ii) the portions of the Company’s Definitive Proxy Statement on Schedule 14A that are incorporated by reference into the Company’s Form 10-K for the fiscal year ended December 31, 2018.

       

        

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

       

        

      “Subject Shares” shall mean a number of shares of Common
          Stock equal to (i) $750,000,000 divided by (ii) the Per Share Purchase Price (rounded up to the nearest whole share).

       

        

      “Subsidiary” means, with respect to any Person, any other
          Person of which at least a majority of the securities or ownership interests having by their terms ordinary voting power to elect a majority of the board of directors or other persons performing similar functions is directly or indirectly owned
          or controlled by such Person and/or by one or more of its Subsidiaries.

       

        

      “Taxes” shall mean any and all taxes, levies, fees, imposts,
          duties and charges of whatever kind (including any interest, penalties or additions to the tax imposed in connection therewith or with respect thereto) imposed by any Governmental Entity, including, without limitation, taxes imposed on, or
          measured by, income, franchise, profits or gross receipts, and any ad valorem, value added, sales, use, service, real or personal property, capital stock, license, payroll, withholding, employment, social security, workers’ compensation,
          unemployment compensation, utility, severance, production, excise, stamp, occupation, premium, windfall profits, transfer and gains taxes and customs or duties.

       

        

      “UNSC” shall have the meaning set forth in Section 3.19.

       

        

      2.          Authorization,

              Purchase and Sale of the Securities.

       

        

      2.1          Authorization,

              Purchase and Sale.

       

        

      (a)          Subject to and upon the terms and conditions of this Agreement, the
          Company will issue and sell to the Purchaser, and the Purchaser will purchase from the Company, at the Closing, the Subject Shares for an aggregate purchase price equal to the product of (i) the number of Subject Shares and (ii) the Per Share
          Purchase Price (such amount, the “Purchase Price”). 

       

       

        

      2.2          Closing.

       

          

       (a)          The

          closing of the purchase and sale of the Subject Shares (the “Closing”) shall take place at the offices of Cleary Gottlieb Steen & Hamilton LLP, One Liberty Plaza,
          New York, NY 10006, on the date on which all of the conditions set forth in Section 6 have
          been satisfied or duly waived, or at such other place or such other date as mutually agreed to by the parties hereto (the date on which the Closing occurs, the “Closing Date”).

       

          

      (b)          At

          the Closing:

       

       

        

       

       

      (i)          the Company shall deliver to the Purchaser evidence that the Subject
          Shares have been issued in book-entry form; and

       

        

      (ii)          the Purchaser shall deliver, or cause to be delivered, to the Company
          the Purchase Price by wire transfer of immediately available funds to an account or accounts that the Company shall designate at least two (2) Business Days prior to the Closing Date.

          

        

      
        4

        
          

      

      3.          Representations and Warranties of
              the Company.  The Company hereby represents and warrants, as of the date hereof and as of the Closing Date, to the Purchaser as follows:

       

        

      3.1          Organization

              and Power. The Company and each of its Subsidiaries have been duly organized and are validly existing and in good standing under the laws of their respective jurisdictions of organization, are duly qualified to do business and are
          in good standing in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary to own or hold their respective
          properties and to conduct the businesses in which they are engaged, except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a Material Adverse Effect.

       

        

      3.2          Authorization. 

          The Company has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder and all action required to be taken for the due and proper authorization, execution and delivery by it of this
          Agreement and the due and proper authorization of the consummation by it of the transactions contemplated thereby has been duly and validly taken and, assuming due execution and delivery by the Purchaser, constitutes a valid and binding agreement
          of the Company enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors’ rights
          and to general equity principles (the “Bankruptcy and Equity Exception”). This Agreement has been duly authorized, executed and delivered by the Company.

       

        

      3.3          The
              Subject Shares. The Subject Shares have been duly authorized and, when issued in accordance with the terms of this Agreement, will be validly issued, fully paid and non-assessable, and the issuance of the Subject Shares will not be
          subject to any preemptive or similar rights.

       

        

      3.4          Capitalization.
          The Company has the following authorized capitalization: 110,000,000 shares of Common Stock and 40,000,000 shares of preferred stock, par value $0.001 per share; all the outstanding shares of capital stock of the Company have been duly and
          validly authorized and issued and are fully paid and non-assessable and are not subject to any pre-emptive or similar rights; there are no outstanding rights (including, without limitation, pre-emptive rights), warrants or options to acquire, or
          instruments convertible into or exchangeable for, any shares of capital stock or other equity interest in the Company or any of its Subsidiaries, or any contract, commitment, agreement, understanding or arrangement of any kind relating to the
          issuance of any capital stock of the Company or any such subsidiary, any such convertible or exchangeable securities or any such rights, warrants or options, except as disclosed in the SEC Reports; and all the outstanding shares of capital stock
          or other equity interests of each subsidiary owned, directly or indirectly, by the Company have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of
          any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party.

       

        

      3.5          No
              Conflict.  The execution, delivery and performance by the Company of this Agreement, and the consummation of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of
          the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Subsidiaries pursuant to, any indenture, mortgage, deed
          of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of
          its Subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws (including estatutos sociales and estatutos sociais) or similar constitutive or organizational documents of the Company or any of its Subsidiaries or (iii) result in the violation of any law or
          statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority.

       

        

      
        5

        
          

      

      3.6          Consents. 

          No consent, approval, authorization, order, registration or qualification of or with (any of the foregoing being a “Consent”),  any court or arbitrator or governmental
          or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the sale of the Subject Shares and the consummation of the transactions contemplated by this Agreement, except for such consents,
          approvals, authorizations, orders and registrations or qualifications as may have been obtained under the Securities Act and such as may be required under applicable state securities laws in connection with the issuance of Subject Shares.

       

        

      3.7          SEC
              Documents; Financial Statements.

       

        

      (a) Each of the documents filed by the Company with the SEC (the “SEC
              Documents”) since January 1, 2018, as of its respective filing date, complied in all material respects with the requirements of the Securities Act and the Exchange Act, as the case may be, and the rules and regulations of the SEC
          promulgated thereunder applicable to such SEC Document, and, except to the extent that information contained in any SEC Document has been revised or superseded by a later filed SEC Document filed and publicly available prior to the date of this
          Agreement (including the Preliminary Prospectus Supplement to be filed pursuant to Rule 424(b) on the date hereof), none of the SEC Documents contained any untrue statement of a material fact or omitted to state a material fact required to be
          stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

       

        

      (b) The consolidated financial statements and the related notes thereto of the Company and its consolidated Subsidiaries included or
          incorporated by reference in the SEC Reports present fairly the financial position of the Company and its consolidated Subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the periods
          specified.  Such consolidated financial statements have been prepared in conformity with U.S. GAAP applied on a consistent basis throughout the periods covered thereby; and the other financial information included or incorporated by reference in
          the SEC Reports has been derived from the accounting records of the Company and its consolidated Subsidiaries and presents fairly the information shown thereby.

       

        

      3.8          Litigation. 

          There are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its Subsidiaries is or may be a party or to which any property of the Company or any of its Subsidiaries is or may
          be the subject that, individually or in the aggregate, if determined adversely to the Company or any of its Subsidiaries, could reasonably be expected to have a Material Adverse Effect. No such investigations, actions, suits or proceedings are,
          to the knowledge of the Company, threatened or contemplated by any governmental or regulatory authority or threatened by others.

       

        

      3.9          Title
              to Properties.  The Company and its Subsidiaries have good and marketable title in fee simple (in the case of real property) to, or have valid rights to lease or otherwise use, all items of real and personal property that are
          material to the respective businesses of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made
          and proposed to be made of such property by the Company and its Subsidiaries or (ii) could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

      
        6

        
          

      

       

        

      3.10          Intellectual

              Property. Except as disclosed in the SEC Reports: (i) the Company and its Subsidiaries own or possess adequate rights to use all material uniform resource locators (URLs), patents, patent applications, trademarks, service marks,
          trade names, trademark registrations, service mark registrations, copyrights, licenses, inventions and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures)
          material for the conduct of their respective businesses as they are currently conducted (collectively, “Intellectual Property”); (ii) there are no third parties who have
          established or, to the Company’s knowledge, will be able to establish rights to any Intellectual Property, except for, and to the extent of, the ownership rights of the owners of the Intellectual Property which the SEC Reports disclose is
          licensed to the Company; (iii) to the Company’s knowledge, there is no infringement by third parties of any Intellectual Property; (iv) to the Company’s knowledge, there is no pending or threatened action, suit, proceeding or claim by others
          challenging the Company’s or its Subsidiaries’ rights in or to any Intellectual Property, and the Company or any of its Subsidiaries is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; (v)
          to the Company’s knowledge, there is no pending or threatened action, suit, proceeding or claim by others challenging the validity, enforceability or scope of any Intellectual Property, and the Company or any of its Subsidiaries is unaware of any
          facts which could form a reasonable basis for any such action, suit, proceeding or claim; (vi) to the Company’s knowledge, there is no pending or threatened action, suit, proceeding or claim by others that the Company or any of its Subsidiaries
          infringes, misappropriates or otherwise violates any patent, trademark, trade name, service mark, copyright, trade secret or other proprietary rights of others, and the Company or any of its Subsidiaries is unaware of any facts which could form a
          reasonable basis for any such action, suit, proceeding or claim; (vii) to the best of the Company’s knowledge, the Company and its Subsidiaries have complied in all material respects with the terms of any agreement pursuant to which Intellectual
          Property has been licensed to the Company or any of its Subsidiaries, and all such agreements that are material for the conduct of their respective businesses as they are currently conducted are in full force and effect; and (viii) to the best of
          the Company’s knowledge, there is no patent or patent application that contains claims that interfere with the issued or pending claims of any of the Intellectual Property or that challenges the validity, enforceability or scope of any of the
          Intellectual Property except, in each case, as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

       

        

      3.11          No
              Undisclosed Relationships. To the Company’s knowledge, no relationship, direct or indirect, exists between or among the Company or any of its Subsidiaries, on the one hand, and the directors, officers, stockholders, customers or
          suppliers of the Company or any of its Subsidiaries, on the other, that is required by the Securities Act to be described in a registration statement to be filed with the SEC and that is not so described in the SEC Reports.

       

        

      3.12          Permits. 

          The Company and its Subsidiaries possess all licenses, certificates, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory
          authorities that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses, except where the failure to possess or make the same would not, individually or in the aggregate, have a
          Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received notice of any revocation or modification of any such license, certificate, permit or authorization or has any reason to believe that any such license,
          certificate, permit or authorization will not be renewed in the ordinary course.

       

        

      3.13          No
              Labor Disputes. Neither the Company nor any of its Subsidiaries is engaged in any illegal labor practice, except as would not, individually or in the aggregate, have a Material Adverse Effect. No labor disturbance by or dispute
          with employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is contemplated or threatened and the Company is not aware of any existing or imminent labor disturbance by, or dispute with, the employees of
          any of its or its Subsidiaries’ principal suppliers, contractors or customers, except as would not, individually or in the aggregate, have a Material Adverse Effect.

      
        7

        
          

      

       

        

      3.14          Environmental

              Compliance.  (i) The Company and its Subsidiaries (x) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations,
          requirements, decisions and orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”), (y) have received and are in compliance with all permits, licenses, certificates or other authorizations or approvals required of them under applicable Environmental Laws to conduct their respective
          businesses, and (z) have not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, and (ii) there are no costs
          or liabilities associated with Environmental Laws of or relating to the Company or its Subsidiaries, except in the case of each of (x) and (y) above, for any such failure to comply, or failure to receive required permits, licenses or approvals,
          or cost or liability as would not, individually or in the aggregate, have a Material Adverse Effect.

       

        

      3.15          Taxes.
          The Company and its subsidiaries have paid all material federal, state, local and non-U.S. Taxes and filed all material Tax returns required to be paid or filed through the date hereof except for any Taxes (i) for which an extension has been
          obtained or (ii) which are being contested in good faith and by appropriate proceedings (provided adequate reserves have been provided for such Taxes); and there is no material Tax deficiency that has been, or could reasonably be expected to be,
          asserted against the Company or any of its subsidiaries or any of their respective properties or assets.

       

        

      3.16          Insurance.
          The Company and its Subsidiaries have insurance against such losses and risks as the Company reasonably believes is prudent for companies engaged in similar business in similar industries; all policies of insurance insuring the Company or any of
          its Subsidiaries or their respective businesses, assets, directors and officers and employees are in full force and effect; the Company and its Subsidiaries are in compliance with the terms of such policies and instruments; there are no claims by
          the Company or any of its Subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the Company nor any such Subsidiary has been refused any
          insurance coverage sought or applied for; and neither the Company nor any of its Subsidiaries has (i) received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made
          in order to continue such insurance or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost from similar insurers as may be
          necessary to continue its business except, in each case, as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

       

        

      3.17          No
              Unlawful Payments. Neither the Company nor any of its Subsidiaries, nor any director, officer or employee of the Company or any of its Subsidiaries nor, to the knowledge of the Company, any agent, affiliate or other person
          associated with or acting on behalf of the Company or any of its Subsidiaries has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act
          in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or of a public
          international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (iii) violated or is in violation of any provision of
          the Foreign Corrupt Practices Act of 1977, as amended (“FCPA”) or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign
          Public Officials in International Business Transactions, or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit,
          including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit. The Company and its Subsidiaries have instituted, maintain and enforce, policies and procedures designed to promote
          and ensure compliance with all applicable anti-bribery and anti-corruption laws. Neither the Company nor its Subsidiaries will use, directly or indirectly, the proceeds of the offering of the Shares hereunder in furtherance of an offer, payment,
          promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.

      
        8

        
          

      

       

        

      3.18          Compliance

              with Anti-Money Laundering Laws.  The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements, including those of the
          Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of all jurisdictions where the Company or any of its Subsidiaries conducts business, the rules and regulations thereunder and any
          related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no
          action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the
          Company, threatened.

       

        

      3.19          No
              Conflicts with Sanctions Laws. Neither the Company nor any of its Subsidiaries, directors, officers or employees, nor, to the knowledge of the Company, any agent, affiliate or other person associated with or acting on behalf of the
          Company or any of its Subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. government, (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the
          Treasury (“OFAC”) or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or “blocked person”), the
          United Nations Security Council (“UNSC”), the European Union, Her Majesty’s Treasury (“HMT”),

          or other relevant sanctions authority (collectively, “Sanctions”), nor is the Company or any of its Subsidiaries located, organized or resident in a country or territory
          that is the subject or target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea and Syria (each, a “Sanctioned Country”) provided however, notwithstanding the above, the Company maintains Subsidiaries in Venezuela; and the Company will not directly or indirectly use the proceeds of the offering of
          the Subject Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate any activities of or business with any person that, at the time of such
          funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any other manner that will result in a violation by any person of Sanctions. For the
          past five years, the Company and its Subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target
          of Sanctions or with any Sanctioned Country.

       

        

      3.20          No
              Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any
          security (as defined in the Securities Act), that is or will be integrated with the sale of the Subject Shares in a manner that would require registration of the Subject Shares under the Securities Act.

       

        

      3.21          No
              General Solicitation or Directed Selling Efforts. None of the Company or any of its affiliates or any other person acting on its or their behalf has solicited offers for, or offered or sold, the Subject Shares by means of any form
          of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act.

      
        9

        
          

      

       

        

      3.22          Securities

              Law Exemptions. Assuming the accuracy of the representations and warranties of the Purchaser, it is not necessary, in connection with the issuance and sale of the Subject Shares to the Purchaser, to register the Subject Shares
          under the Securities Act.

       

        

      3.23          Absence

              of Certain Changes.  Since December 31, 2018, (i) there has not been any material change in the capital stock, long-term debt, notes payable or current portion of long-term debt of the Company or any of its Subsidiaries, or any
          dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock, or any material adverse change, or any development involving a prospective material adverse change, in or affecting
          the business, properties, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its subsidiaries taken as a whole; (ii) neither the Company nor any of its Subsidiaries has entered into any
          transaction or agreement that is material to the Company and its Subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and its Subsidiaries taken as a whole.

       

        

      3.24          No
              Defaults.  Neither the Company nor any of its Subsidiaries is: (i) in violation of its charter or by-laws (including estatutos sociales and
          estatutos sociais) or similar constitutive or organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or
          both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its
          Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries is subject; or (iii) in violation of any law or statute or any judgment,
          order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate, have a Material
          Adverse Effect.

       

        

      3.25          Brokers. 

          The Company has not retained, utilized or been represented by any broker or finder in connection with the transactions contemplated by this Agreement whose fees the Purchaser could be required to pay.

       

        

      3.26          NASDAQ.
          Shares of the Common Stock are registered pursuant to Section 12(b) of the Exchange Act and are listed on NASDAQ, and there is no action pending by the Company or any other Person to terminate the registration of the Common Stock under the
          Exchange Act or to delist the Common Stock from NASDAQ, nor has the Company received any notification that the SEC or NASDAQ is currently contemplating terminating such registration or listing. The issuance and sale of the Subject Shares does not
          and will not contravene NASDAQ rules or regulations.

       

          

      3.27          U.S.
              Activities.  The fair market value of the assets of the Company and its Subsidiaries located in the United States do not exceed $90,000,000 in the aggregate. During the year ended December 31, 2018, the aggregate sales by the
          Company and its Subsidiaries in, or into, the United States did not exceed $90,000,000 in the aggregate.

       

        

      3.28          Other
              Private Placements.  The terms of the Concurrent Private Placement have not been amended or modified.  The terms of any private placement for Common Stock entered into on or prior to the Closing Date, including the securities
          issued pursuant thereto, are no more favorable than the terms provided to the Purchaser under this Agreement and the Common Stock received pursuant hereto.

       

          

      3.29          IT
              Systems.  The Company and its Subsidiaries’ information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all material respects as required in connection with the operation of the business of the Company and its subsidiaries as currently
          conducted, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants, to the best of the Company’s knowledge.  The Company and its Subsidiaries have implemented and maintained commercially
          reasonable controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and data (including all personal,
          personally identifiable, sensitive, confidential or regulated data (“Personal Data”)) used in connection with their businesses, and to the best of the Company’s
          knowledge, there have been no breaches, violations, outages or unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify any other person, nor any incidents under
          internal review or investigations relating to the same. The Company and its Subsidiaries are presently in material compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or
          governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access,
          misappropriation or modification.

      
        10

        
          

      

       

        

      3.30          No
              Other Representations and Warranties.  Except for the representations and warranties contained in Section 3 and any schedules or certificates delivered in connection herewith, the Company makes no other representation or warranty, express or implied, written or oral, and hereby, to the maximum extent permitted by
          applicable Law, disclaims any such representation or warranty, whether by the Company or any other Person, with respect to the Company or with respect to any other information (including, without limitation, pro forma financial information,
          financial projections or other forward-looking statements) provided to or made available to the Purchaser or any of their respective Representatives in connection with the transactions contemplated hereby.

       

        

      4.          Representations and Warranties of
              the Purchaser.  The Purchaser hereby represents and warrants, as of the date hereof and as of the Closing Date, to the Company as follows:

       

        

      4.1          Organization. 

          The Purchaser is a legal entity duly organized, validly existing and in good standing under the Laws of the jurisdiction of its organization.

       

        

      4.2          Authorization. 

          The Purchaser has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder and all action required to be taken for the due and proper authorization, execution and delivery by it of this
          Agreement and the due and proper authorization of the consummation by it of the transactions contemplated thereby has been duly and validly taken and, assuming due execution and delivery by the Company, constitutes a valid and binding agreement
          of such Purchaser enforceable against such Purchase in accordance with its terms, subject to the Bankruptcy and Equity Exception.

       

        

      4.3          No
              Conflict.  The execution, delivery and performance of this Agreement by the Purchaser, the issuance of the Subject Shares in accordance with this Agreement, and the consummation of the other transactions contemplated hereby and
          thereby do not and will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or
          assets of the Purchaser or any of its Subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Purchaser or any of its Subsidiaries is a party or by which the Purchaser or any
          of its Subsidiaries is bound or to which any of the property or assets of the Purchaser or any of its Subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar constitutive or organizational
          documents of the Purchaser or any of its Subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of
          each of clauses (i) and (iii), as would not, individually or in the aggregate, reasonably be expected to materially delay or hinder the ability of the Purchaser to perform its obligations under this Agreement (a “Purchaser Adverse Effect”).

      
        11

        
          

      

       

        

      4.4          Consents. 

          No Consent of any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Purchaser in connection with (i) the execution, delivery or performance of this Agreement and the
          consummation of the transactions contemplated hereby or (ii) the issuance of the Subject Shares in accordance with this Agreement, except for such consents, approvals, authorizations, orders and registrations or qualifications as may have been
          obtained under the Securities Act and such as may be required under applicable state securities laws in connection with the issuance of the Subject Shares and such Consents the failure of which to make or obtain would not, individually or in the
          aggregate, reasonably be expected to have a Purchaser Adverse Effect.

       

        

      4.5          Brokers. 

          The Purchaser has not retained, utilized or been represented by any broker or finder in connection with the transactions contemplated by this Agreement whose fees the Company could be required to pay.

       

        

      4.6          Purchase

              Entirely for Own Account.  The Purchaser is acquiring the Subject Shares for its own account solely for the purpose of investment, not as nominee or agent, and not with a view to, or for sale in connection with, any distribution of
          the Subject Shares in violation of the Securities Act, and the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the same, in violation of the Securities Act.  The Purchaser has no present
          agreement, undertaking, arrangement, obligation or commitment providing for the disposition of the Subject Shares.

       

        

      4.7          Investor

              Status.  The Purchaser certifies and represents to the Company that it is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act.

       

        

      4.8          Information.
          The Purchaser and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Subject Shares that have been requested by it. The
          Purchaser and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries nor any other due diligence investigations conducted by the Purchaser or its advisors, if any, or its representatives
          shall modify, amend or affect the Purchaser’s right to rely on the Company’s representations and warranties contained herein. The Purchaser understands that its investment in the Subject Shares involves a high degree of risk. The Purchaser has
          sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Subject Shares.

          

        

      4.9          Securities

              Not Registered.

       

        

      (a)          The Purchaser understands that none of the Subject Shares have been
          approved or disapproved by the SEC or by any state securities commission nor have the Subject Shares been registered under the Securities Act, by reason of their issuance by the Company in a transaction exempt from the registration requirements
          of the Securities Act, and that the Subject Shares being acquired by the Purchaser are “restricted securities” under applicable federal securities laws and must continue to be held by the Purchaser unless a subsequent disposition thereof is
          registered under the Securities Act or is exempt from such registration. Such Purchaser agrees: (A) that the Purchaser will not sell, assign, pledge, give, transfer or otherwise dispose of the Subject Shares or any interest therein, or make any
          offer or attempt to do any of the foregoing, except pursuant to a registration of the Subject Shares under the Securities Act and all applicable state or local securities laws, or in a transaction that is exempt from the registration provisions
          of the Securities Act and all applicable state or local securities laws, (B) that any certificates representing the Subject Shares will bear a legend making reference to the foregoing restrictions and (C) that the Company shall not be required to
          give effect to any purported transfer of the Subject Shares except upon compliance with the foregoing restrictions. 

       

        

       

      
        
          12

          
            

        

      

       

      (b)         

          The Purchaser understands that the Subject Shares shall be subject to the restrictions contained herein.

       

        

      (c)         

          The Purchaser understands that the Subject Shares, and any securities issued in respect thereof or in exchange therefor, will bear the following legends:

       

        

      “THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM.

       

        

      THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I)
          PURSUANT TO ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, INCLUDING RULE 144 OR REGULATION S UNDER THE SECURITIES ACT (IF AVAILABLE), (II) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR
          (III) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY
          ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.”

       

        

      4.10          Financing. 

          The Purchaser has, or by the Closing will have, an amount of cash sufficient to enable it to consummate the transactions contemplated hereunder on the terms and conditions set forth in this Agreement.

       

        

      4.11          Non-Reliance. 

          Neither the Purchaser nor any of its Representatives has relied or is relying on any representation or warranty, express or implied, written or oral, made by the Company or any of its Representatives, except those representations and warranties
          expressly set forth in Section 3 or in any schedule or certificate delivered in connection
          herewith.  Neither the Company nor any of its Representatives will have or be subject to any liability or indemnification obligation to the Purchaser or any other Person resulting from any other express or implied representation or warranty with
          respect to the Company, unless any such information is expressly included in a representation or warranty contained in Section 3 or in any schedule or certificate delivered in connection herewith.

       

        

      5.          Covenants.

       

        

      5.1          Rule
              144 Reporting.  With a view to making available the benefits of certain rules and regulations of the SEC that may permit the sale of the Subject Shares to the public without registration, the Company agrees to use its reasonable
          best efforts to:

       

        

      
        	

              	
                (a)          make and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 under the Securities Act (or any similar provision then in effect), at all times from
                    and after the Closing Date;

                 

                  

              

      

      
         

        

        
          13

          
            

        

        	

              	
                (b)          file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act at all times from and after the Closing Date; and

                 

                  

              

      

      
        	

              	
                (c)          furnish (i) to the extent accurate, forthwith upon request, a written statement of the Company that it has complied with the reporting requirements of Rule 144 under the Securities Act (or any similar
                    provision then in effect) and (ii) unless otherwise available via the SEC’s EDGAR filing system, to the Purchaser forthwith upon request a copy of the most recent annual or quarterly report of the Company, and such other reports and
                    documents so filed as the Purchaser may reasonably request in availing itself of any rule or regulation of the SEC allowing the Purchaser to sell any such securities without registration.

                 

                  

              

      

      5.2          Trading

              of Company Securities.  During the periods between the date hereof and the Closing, neither the Purchaser nor any of its Affiliates shall sell short any securities of the Company or derivatives thereof.

       

        

      5.3          Lock-Up. 

          Until the date that is 180 days after the Closing Date (the “Lock-Up Expiration Date”), the Purchaser agrees that it shall not, without the Company’s written consent,
          (A) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, make any short sale relating to, or otherwise transfer or dispose of,
          directly or indirectly, any of the Subject Shares, or publicly disclose the intention to make any offer, sale, pledge or disposition, or (B) enter into any swap or other agreement that transfers, in whole or in part, any of the economic
          consequences of ownership of the Subject Shares, whether any such transaction described in clauses (A) and (B) is to be settled by delivery of shares of Common Stock, any other security, in cash or otherwise.  Notwithstanding anything contained
          in this Section 5.3 to the contrary, the Purchaser shall be permitted to sell, transfer or dispose of Subject Shares prior to the Lock-Up Expiration Date to maintain the Purchaser’s percentage ownership in the Common Stock at 5.00% or less. Prior
          to the Lock-Up Expiration Date, the Company shall not enter into, or agree to enter into, any agreement relating to a strategic investment by a third-party (including issuance or sale of any securities other than Common Stock) on terms more
          favorable than the terms provided to the Purchaser under this Agreement and the Common Stock received pursuant hereto; provided, however, that it shall not be a violation of this provision to issue Common Stock to a strategic investor at a price
          per share of Common Stock less than the Per Share Purchase Price as long as the price per share of Common Stock is at least 97% of the closing trading price of the Common Stock on the trading day immediately prior to such investment.

       

        

      5.4          Board
              Observer.  Following the Closing, and no later than 10 Business Days following the entry into a commercial agreement pursuant to the terms of Section 5.5
          hereof,  the Company shall use its reasonable best efforts to (1) identify, together with the Purchaser, one authorized representative of the Purchaser who shall be acceptable to both the Company and the Purchaser, and (2) use its good faith
          efforts to seek the approval of the Board to designate such representative as an observer to the Board (the “Observer”), who shall be, subject to the exceptions set
          forth below, invited to attend all meetings of the Board and in connection therewith shall be entitled to receive copies of all notices, minutes, consents, and other materials that the Company provides to its directors on the same terms and in
          the same manner as provided to the other members of the Board  (the “Board Documents”). The Observer may participate in discussions of matters brought before the Board,
          but shall in all other respects be a nonvoting observer. The Company shall have the right at its sole discretion to exclude the Observer from any portion or all of any meeting of the Board, or withhold a portion of the Board Documents, on a
          case-by-case basis, if required by law or if the Board or any officer of the Company determines that exclusion of the Observer is reasonably necessary (i) to preserve the attorney-client privilege between the Company and its counsel, (ii) to
          prevent disclosure of trade secrets to the Observer, or (iii) to prevent disclosure of any other information to the Observer, which information the Board or any officer of the Company reasonably believes would result in disclosure the Company is
          not prepared to disclose to any third party at such time. The Company and the Purchaser agree that upon the appointment of any such Observer, the Company and the Purchaser shall negotiate, and shall use good faith efforts to cause the Observer to
          enter into, a confidentiality agreement and any other agreements reasonably deemed necessary by the Company to approve the appointment of the Observer. Upon the resignation of any Observer, the Company and the Purchaser shall use their good faith
          efforts to appoint a replacement representative as Observer in accordance with the procedures set forth above, in each case within 30 calendar days of any such Observer resignation. Purchaser shall maintain the right to designate one Observer
          pursuant to this Section 5.4 only so long as it continues to hold at least fifty percent
          (50%) of the shares of Common Stock purchased at the Closing and any Observer shall lose all rights set forth above upon the sale by Purchaser of fifty percent (50%) or more of the shares of Common Stock purchased at the Closing.

      

      

      
        14

        
          

      

      5.5          Cooperation. 

          Following the Closing, each of the Company and the Purchaser shall use their respective reasonable best efforts to cooperate with one another to enter into a commercial agreement, within ninety (90) days of the Closing Date, that establishes
          complementary initiatives to strengthen the respective companies’ networks.

       

        

      6.          Conditions Precedent.

       

        

      6.1          Mutual
              Conditions of Closing.  The obligations of the Company and the Purchaser to consummate the transactions to be consummated at the Closing is subject to the satisfaction, or mutual written waiver, of the following conditions
          precedent:

       

        

      
        	

              	
                (a)          There shall not be any Law or Governmental Order in effect that enjoins, prohibits or materially alters the terms of the transactions contemplated by this Agreement, and no action, suit, investigation or
                    proceeding pending by a Governmental Authority of competent jurisdiction that seeks such a Governmental Order; and

                 

                  

              

      

      
        	

              	
                (b)          The issue and sale of the Subject Shares shall be exempt from the requirement to file a prospectus or registration statement and there shall be no requirement to deliver an offering memorandum under
                    applicable securities Law relating to the sale of the Subject Shares.

                 

                  

              

      

      6.2          Conditions

              to the Obligation of the Purchaser to Consummate the Closing.  The obligation of the Purchaser to consummate the transactions to be consummated at the Closing, and to purchase and pay for the Subject Shares pursuant to this
          Agreement, is subject to the satisfaction, or due waiver in writing by the Purchaser, of the following conditions precedent:

       

        

      
        	

              	
                (a)          the Company shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or
                    prior to the Closing Date;

                 

                  

              

      

      
        	

              	
                (b)          the representations and warranties of the Company contained in this Agreement shall be true and correct in all material respects (other than those representations and warranties contained in Sections 3.1, 3.2 3.3, 3.22 and 3.25,
                    which shall be true and correct in all respects) as of the Closing Date (except in the case of representations and warranties that are made as of a specified date, which shall be true and correct in all respects as of such specified
                    date);

                 

                  

              

      

      
        	

              	
                (c)          the Company shall have consummated the Concurrent Public Offering resulting in gross proceeds to the Company of at least $500,000,000;

                 

                  

              

      

      
         

        

        
          15

          
            

        

        	

              	
                (d)          the Subject Shares shall represent 5.00% or less of the outstanding Common Stock of the Company;

                 

                  

              

      

      
        	

              	
                 (e)          the Company shall have delivered to the Purchaser a certificate, dated the Closing Date and executed by a duly authorized officer, to the effect that the conditions set forth in Sections 6.2(a), (b), (c)
                    and (d) have been satisfied; and

                 

                  

              

      

      
        	

              	
                 (f)          the Purchaser shall have received an opinion from Cleary Gottlieb Steen & Hamilton LLP, counsel to the Company, dated the Closing Date and satisfactory in form and substance to counsel for the
                    Purchaser.

                 

                  

              

      

      6.3          Conditions

              to the Obligation of the Company to Consummate the Closing.  The obligation of the Company to consummate the transactions to be consummated at the Closing, and to issue and sell to the Purchaser the Subject Shares pursuant to this
          Agreement, is subject to the satisfaction of the following conditions precedent:

       

        

      
        	

              	
                (a)          the Purchaser shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or
                    prior to the Closing Dates; and

                 

                  

              

      

      
        	

              	
                (b)          the representations and warranties of the Purchaser contained in this Agreement shall be true and correct in all material respects (other than those representations and warranties contained in Sections 4.1, 4.2
                    and 4.5 which shall be true and correct in all respects) as of the Closing Date (except in the case of representations and warranties that are made as of a
                    specified date, which shall be true and correct in all respects as of such specified date); and

                 

                  

              

      

      
        	

              	
                (c)          the Purchaser shall have delivered to the Company a certificate, dated the Closing Date and executed by a duly authorized officer, to the effect that the conditions set forth in Sections 6.3(a) and (b) have
                    been satisfied.

                 

                  

              

      

      7.          Legends; Securities Act Compliance. 

          The Subject Shares or the notice sent to any holder of the Subject Shares in book-entry form will bear a legend conspicuously thereon as provided in Section 4.8.

       

        

      8.          Termination. 

       

            

      8.1          Conditions

              of Termination.  Notwithstanding anything to the contrary contained herein, this Agreement may be terminated: (a) at any time before the Closing by either the Company, on the one hand, or the Purchaser, on the other hand, if any of
          the conditions to Closing to which such party is entitled to the benefit of shall have become permanently incapable of fulfillment and shall not have been waived in writing (to the extent permitted by applicable Law); or (b) at any time after the
          date that is 30 days after the date of this Agreement by either the Company, on the one hand, or the Purchaser, on the other hand, if the Closing shall not have occurred on or
          before such date; provided, however, that the right to terminate this Agreement pursuant
          to the preceding clause (a) or clause (b) shall not be available to a party if the inability to satisfy any of the conditions to Closing was due primarily to the failure of such party to perform any of its obligations under this Agreement.

       

        

      8.2          Effect
              of Termination.  In the event of any termination pursuant to Section 8.1,
          this Agreement shall become null and void and have no further effect, with no liability on the part of the Company or the Purchaser, or their respective Affiliates or Representatives, with respect to this Agreement, except (a) for the terms of
          this Section 8.2 and Section

            9, which shall survive the termination of this Agreement, and (b) that nothing in this Section

            8.2 shall relieve any party hereto from liability or damages incurred or suffered by any other party resulting from any intentional (x) breach of any
          representation or warranty of such first party or (y) failure of such first party to perform a covenant thereof.  As used in the foregoing sentence, “intentional” shall mean an act or omission by such party which such party actually knew, or
          reasonably should have known, would constitute a breach of this Agreement by such party.

       

        

      
        16

        
          

      

      9.          Miscellaneous Provisions.
       

        

      9.1          Survival. 

          The representations and warranties set forth in Sections 3.1, 3.2, 3.3, 3.4, 4.1, 4.2 and 4.3
          shall survive the execution and delivery of this Agreement and the Closing indefinitely and the other representations and warranties contained in this Agreement shall survive the execution and delivery of this Agreement and the Closing for a
          period of 18 months following the Closing Date, regardless of any investigation made by or on behalf of the Company or the Purchaser.  The covenants made in this Agreement shall survive the Closing indefinitely until fully performed in accordance
          with their terms and remain operative and in full force and effect in accordance with their terms regardless of acceptance of any of the Subject Shares and payment therefor and repayment, conversion or repurchase thereof.

       

        

      9.2          Interpretation. 

          The term “or” when used in this Agreement is not exclusive.  The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement will refer to this Agreement as a whole and not to any particular provision of this
          Agreement, and section and subsection references are to this Agreement unless otherwise specified.  The headings in this Agreement are included for convenience of reference only and will not limit or otherwise affect the meaning or interpretation
          of this Agreement.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they will be deemed to be followed by the words “without limitation.” The phrases “the date of this Agreement,” “the date hereof” and terms of
          similar import, unless the context otherwise requires, will be deemed to refer to the date set forth in the first paragraph of this Agreement.  The meanings given to terms defined herein will be equally applicable to both the singular and plural
          forms of such terms.  All matters to be agreed to by any party hereto must be agreed to in writing by such party unless otherwise indicated herein.  Except as otherwise specified herein, references to agreements, policies, standards, guidelines
          or instruments, or to statutes or regulations, are to such agreements, policies, standards, guidelines or instruments, or statutes or regulations, as amended or supplemented from time to time (or to successors thereto).  All references herein to
          the Subsidiaries of a Person shall be deemed to include all direct and indirect Subsidiaries of such Person, unless otherwise indicated or the context otherwise requires.  The parties hereto agree that they have been represented by counsel during
          the negotiation and execution of this Agreement and, therefore, waive the application of any Law, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such
          agreement or document.

          

        

      
        17

        
          

      

      9.3          Notices. 

          All notices, requests, consents, and other communications under this Agreement shall be in writing and shall be deemed delivered (a) three Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid,
          (b) one Business Day after being sent via a reputable nationwide overnight courier service guaranteeing next business day delivery or (c) on the date of delivery if delivered personally or via e-mail, in each case to the intended recipient as set
          forth below:

      

      

      	 (a)	 

            	
              if to the Company, addressed as follows:

            
	 	 	 	 
	 	 	
              MercadoLibre, Inc. 

              Arias 3751, 7th Floor 

              Buenos Aires, C1430CRG

            
	 	 	
              Attention:

            	
              Jacobo Cohen Imach

            
	 	 	 	
              Gabriela Colombo

            
	 	 	
              Email:

            	
              jcimach@mercadolibre.com

            
	 	 	 	
              gabriela.colombo@mercadolibre.com

            
	 	 	 	 
	 	 	
              with copies (which shall not constitute notice) to:

            
	 	 	 	 
	 	 	
              Cleary Gottlieb Steen and Hamilton LLP 

              One Liberty Plaza 

              New York, NY 10006

            
	 	 	
              Attention:

            	
              Nicolas Grabar

            
	 	 	 	
              Andrea Basham

            
	 	 	
              Email:

            	
              ngrabar@cgsh.com

            
	 	 	 	
              abasham@cgsh.com

            
	 	 	 	 
	
              (b)

            	
              

              

            	
              if to the Purchaser, to:

            
	 	 	 	 
	 	 	
              with copies (which shall not constitute notice) to:

            
	 	 	 	 
	 	 	
              PayPal, Inc. 

              2211 North First Street 

              San Jose, CA 95131

            
	 	 	
              Facsimile:

            	
              (408) 967-9990

            
	 	 	
              Attention:

            	
              General Counsel

            
	 	 	 	 
	 	 	
              with copies (which shall not constitute notice) to:

            
	 	 	 	 
	 	 	
              Skadden, Arps, Slate, Meagher & Flom LLP

               525 University Avenue, Suite 1400 

              Palo Alto, CA 94301

            
	 	 	
              Attention:

            	
              Michael Mies

            
	 	 	
              Email:

            	
              michael.mies@skadden.com

            

      

      

      Any party may change the address to which notices, requests, consents or other communications hereunder are to be delivered by giving the other parties
          notice in the manner set forth in this Section 9.3.

       

        

      9.4          Severability. 

          In the event that any provision of this Agreement, or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and
          effect and the application of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto.  The parties further agree to replace such void or unenforceable provision of this
          Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision.

       

        

      
        18

        
          

      

      9.5          Governing

              Law; Jurisdiction; WAIVER OF JURY TRIAL.

       

        

      
        	

              	
                (a)           This Agreement, and all claims or causes
                    of action (whether in contract, tort or statute) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement, shall be governed by and enforced and construed in
                    accordance with the Laws of the State of Delaware (including its statute of limitations), regardless of the Laws that might otherwise govern under applicable principles of conflicts of law thereof.

                 

                  

              

      

      
        	

              	
                (b)           Each of the parties hereto irrevocably
                    (i) agrees that any legal suit, action or proceeding brought by any party hereto arising out of or based upon this Agreement shall be instituted in the Court of Chancery of the State of Delaware (provided, that if jurisdiction is not then available in such court, then any such legal suit, action or proceeding shall be brought in any federal court located in the State of Delaware
                    or in any other Delaware state court) (any of the foregoing Delaware courts, a “Delaware Court”); (ii) waives, to the fullest extent it may effectively do so,
                    any objection which it may now or hereafter have to the laying of venue of any such proceeding; and (iii) submits to the non-exclusive jurisdiction of a Delaware Court in any such suit, action or proceeding.

                 

                  

              

      

      
        	

              	
                (c)           EACH OF THE PARTIES HERETO HEREBY
                    IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE PURCHASER OR THE COMPANY IN THE
                    NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF.

                 

                  

              

      

      9.6          Delays
              or Omissions; Waiver.  No delay or omission to exercise any right, power, or remedy accruing to a party upon any breach or default of another party under this Agreement shall impair any such right, power, or remedy of such party,
          nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any
          other breach or default theretofore or thereafter occurring.  No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or be construed as, a further or
          continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement.  Any agreement on the part of a party or parties hereto to any waiver shall be valid only if set forth in an
          instrument in writing signed on behalf of such party or parties, as applicable.  Any delay in exercising any right under this Agreement shall not constitute a waiver of such right.

       

        

      9.7          Specific

              Performance. The parties hereto agree that the obligations imposed on them in this Agreement are special, unique and of an extraordinary character, and that irreparable damages for which money damages, even if available, would not
          be an adequate remedy, would occur in the event that the parties hereto do not perform the provisions of this Agreement in accordance with its specified terms or otherwise breach such provisions. The parties hereto acknowledge and agree that the
          parties shall be entitled to an injunction, specific performance and other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which
          they are entitled, at law or in equity; and the parties hereto further agree to waive any requirement for the securing or posting of any bond or other security in connection with the obtaining of any such injunctive or other equitable relief.
          Each of the parties hereto agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief as provided herein on the basis that (x) any party has an adequate remedy at law or (y) an award of specific
          performance is not an appropriate remedy for any reason at law or equity.

       

        

      9.8          Fees;
              Expenses.  All fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby and thereby shall be paid by the party incurring them, whether or not the transactions contemplated hereby and
          thereby are consummated.

       

        

      9.9          Assignment. 

          (i) The Purchaser may not assign its rights or obligations under this Agreement without the prior written consent of the Company and (ii) the Company may not assign its rights or obligations under this Agreement without the prior written consent
          of the Purchaser.  Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties to this Agreement and their respective successors and permitted assigns.  Any purported
          assignment other than in compliance with the terms hereof shall be void ab initio.

       

          

      
        19

        
          

      

      9.10          No
              Third Party Beneficiaries.  This Agreement does not create any rights, claims or benefits inuring to any Person that is not a party hereto nor create or establish any third party beneficiary hereto.  Without limiting the foregoing,
          the representations and warranties in this Agreement are the product of negotiations among the parties hereto and are for the sole benefit of the parties hereto.  In some instances, the representations and warranties in this Agreement may
          represent an allocation among the parties hereto of risks associated with particular matters regardless of the knowledge of any of the parties hereto.  Consequently, Persons other than the parties hereto may not rely upon the representations and
          warranties in this Agreement as characterizations of actual facts or circumstances as of the date of this Agreement or as of any other date.

       

        

      9.11          Counterparts. 

          This Agreement may be executed and delivered (including by facsimile or electronic transmission) in any number of counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed an original,
          but all of which taken together shall constitute a single instrument.

       

        

      9.12          Entire

              Agreement; Amendments.  This Agreement and the documents and instruments and other agreements among the parties hereto as contemplated by or referred to herein, including the Exhibit hereto, constitute the entire agreement between
          the parties hereto respecting the subject matter hereof and supersede all prior agreements, negotiations, understandings, representations and statements respecting the subject matter hereof, whether written or oral.  No modification, alteration
          or change in any of the terms of this Agreement shall be valid or binding upon the parties hereto unless made in writing and duly executed by the Company and the Purchaser.

       

        

      9.13          No
              Personal Liability of Directors, Officers, Owners, Etc.  No director, officer, employee, incorporator, equityholder, managing member, member, general partner, limited partner, principal or other agent of the Purchaser or the
          Company shall have any liability for any obligations of the Purchaser or the Company, as applicable, under this Agreement or for any claim based on, in respect of, or by reason of, the respective obligations of the Purchaser or the Company, as
          applicable, under this Agreement.  Each party hereby waives and releases all such liability.  This waiver and release is a material inducement to each party’s entry into this Agreement.

       

        

      [Remainder of the Page Intentionally Left Blank]

      
        20

        
          

      

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly appointed officers as of the date first
          above written.

       

        

      	 	
              COMPANY:

               

                

            
	 	
              MERCADOLIBRE, INC.

            
	 	 	 
	 	
              By:

            	
              /s/ Pedro Arnt

            
	 	
              Name:

            	
              Pedro Arnt

            
	 	
              Title:

            	
              Chief Financial Officer

            
	 	 	 
	 	
              PURCHASER:

               

                

            
	 	
              PAYPAL, INC.

            
	 	 	 
	 	
              By:

            	
              /s/ Jeremy Jonkers

            
	 	
              Name:

            	
              Jeremy Jonkers

            
	 	
              Title:

            	
              Vice President, Corporate Development and Ventures

            

      

      

      
        

      

      

      

      

      

      

    

  

  21

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