Document:

Voting
Agreement

VOTING
AGREEMENT, dated as of March 1, 2021 (this “Agreement”), by and among Pineapple Energy LLC, a Delaware limited
liability company (“Pineapple”), Communications Systems, Inc., a Minnesota corporation (“Parent”),
and the undersigned holders (the “Shareholders” and each, a “Shareholder”) of capital stock
of Parent. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Merger
Agreement (as hereinafter defined).

W
I T N E S S E T H:

WHEREAS,
concurrently with the execution of this Agreement, Pineapple, Helios Merger Co., a Delaware corporation and a wholly owned Subsidiary
of Parent (“Merger Sub”), Parent and the other parties thereto are entering into an Agreement and Plan of Merger,
dated as of the date hereof (as amended from time to time, the “Merger Agreement”), pursuant to which, on the
terms and subject to the conditions set forth therein, Merger Sub will be merged with and into Pineapple (the “Merger”),
and the outstanding Units (other than Excluded Units, which will be cancelled) will be converted into shares of Parent Common
Stock; and

WHEREAS,
as a material condition and inducement to the willingness of Pineapple to enter into the Merger Agreement, Pineapple has required
that the Shareholders agree, and the Shareholders, in order to induce Pineapple to enter into the Merger Agreement and in consideration
of the substantial expenses incurred and to be incurred by Pineapple in connection therewith, have agreed, to enter into this
Agreement and abide by the covenants and obligations as set forth herein.

NOW,
THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements set forth herein, and
for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending
to be legally bound, hereby agree as follows:

ARTICLE
I

General

1.1.       

Defined
Terms. The following capitalized terms, as used in this Agreement, shall have the meanings set
forth below.

“Beneficial
Owner” means, with respect to any securities, any Person who, directly or indirectly, through any contract, arrangement,
understanding, relationship or otherwise, has or shares (a) voting power, which includes the power to vote, or to direct
the voting of, such security; and/or (b) investment power, which includes the power to dispose, or to direct the disposition,
of such security; and shall otherwise be interpreted in accordance with the term “beneficial owner” as defined in
Rule 13d-3 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. The terms
“Beneficial Ownership,” “Beneficially Own” and “Beneficially Owned” shall
have a correlative meaning.

“Covered
Securities” means, with respect to each Shareholder, such Shareholder’s Existing Shares, together with any Shares
or other voting capital stock of Parent of which such Shareholder has or acquires Beneficial Ownership on or after the date hereof;
provided that for purposes of this definition of “Covered Securities,” a Person shall be deemed to be the Beneficial
Owner of any Shares which such Person has the right to acquire pursuant to any agreement, arrangement or understanding or upon
the exercise of conversion rights, exchange rights, warrants or options, or otherwise (irrespective of whether the right to acquire
such Shares is exercisable immediately or only after the passage of time, including the passage of time in excess of sixty days,
the satisfaction of any conditions, the occurrence of any event or any combination of the foregoing).

“Covered
Shares” means, with respect to each Shareholder, such Shareholder’s Existing Shares, together with any Shares
or other voting capital stock of Parent of which such Shareholder has or acquires Beneficial Ownership (determined without the
application of Rule 13d-3(d)(1)) on or after the date hereof.

“Existing
Shares” means, with respect to each Shareholder, the number of Shares Beneficially Owned (determined without the application
of Rule 13d-3(d)(1)) or owned of record by such Shareholder, as set forth opposite such Shareholder’s name in Schedule I
hereto, but with respect to any Shares owned by or allocated

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to
the Communications Systems, Inc. Employee Stock Ownership Plan (“ESOP”), means only (i) Shares allocated to the Shareholder’s
ESOP account, or (ii) Shares that the Shareholder has the power to vote under the ESOP governing documents.

“Shares”
means the shares of Parent Common Stock, shares of Parent Preferred Stock and any other capital stock of Parent.

“Transfer”
means, directly or indirectly, to sell, transfer, assign, deposit, pledge, encumber (including creating or incurring any lien
upon), hypothecate or similarly dispose of (including by gift, merger, consolidation by operation of Law or otherwise (including
by conversion into securities or other consideration), either voluntarily or involuntarily, or by tendering into any tender or
exchange offer), or to enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership or any contract, option or other arrangement or understanding with respect to the voting of or sale,
transfer, assignment, deposit, pledge, encumbrance (including the creation or incurment of any lien upon), hypothecation or similar
disposition of (including by gift, merger, consolidation by operation of Law or otherwise (including by conversion into securities
or other consideration), either voluntarily or involuntarily, or by tendering into any tender or exchange offer).

ARTICLE
II

Voting

2.1.       

Agreement
to Vote. Subject to the terms of this Agreement, each Shareholder hereby covenants and agrees,
severally and not jointly, that during the term of this Agreement and at the Parent Shareholder Meeting and at any other meeting
of the holders of Shares, however called, including any adjournment or postponement thereof, and in connection with any written
consent of the holders of Shares, or in any other circumstance upon which a vote, consent or other approval of the holders of
Shares is sought, such Shareholder shall, in each case, to the fullest extent that such matters are submitted for the vote, written
consent or approval of such Shareholder and that the Covered Shares are entitled to vote thereon or consent thereto:

(a)       

appear
at any such meeting or otherwise cause the Covered Shares to be counted as present thereat for purposes of calculating a quorum;
and

(b)       

vote
(or cause to be voted), in person or by proxy, or deliver (or cause to be delivered) a written consent covering, all of the Covered
Shares (A) in favor of the approval of the Merger Agreement and the other Transactions (including the CVR Agreement and the
Parent Stock Issuance); (B) against any action or agreement submitted for the vote or written consent of the holders of Shares
that would result in a breach in any material respect of any covenant, representation or warranty or other obligation or agreement
of Parent or Merger Sub under the Merger Agreement or that is otherwise in opposition to the Merger or any of the other Transactions
(including the CVR Agreement and the Parent Stock Issuance); (C) against any extraordinary corporate transaction (other than
the Merger or the Transactions, including the CVR Agreement and the Parent Stock Issuance), such as a merger, consolidation, business
combination, tender or exchange offer, reorganization, recapitalization, liquidation, sale or transfer of all or substantially
all of the securities of Parent (other than pursuant to the Merger or the Transactions, including the CVR Agreement and the Parent
Stock Issuance) or any other Acquisition Proposal; and (D) against any other action, agreement or transaction submitted for
the vote or written consent of the holders of Shares that is intended, or could reasonably be expected to, impede, interfere with,
delay, postpone, discourage, or adversely affect the consummation of the Merger and the other Transactions; provided, that
the foregoing covenants shall apply solely with respect to actions taken with respect to the Covered Shares; and provided further
that nothing in this Agreement limits or restricts the Shareholders from voting on the Dispositions (as defined in the Merger
Agreement) or any matters other than those explicitly set forth in this Section 2.1(b), in their sole discretion.

Any
such vote shall be cast (or consent shall be given) by such Shareholder in accordance with such procedures relating thereto as
will ensure that he or she is duly counted, including for purposes of determining whether a quorum is present. Neither this Section
2.1(b) nor anything else in this Agreement shall require such Shareholder to exercise any warrants or options (if any) to
acquire Shares or other capital stock of Parent. Such Shareholder shall provide

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Pineapple
with at least five Business Days’ prior written notice prior to signing any action proposed to be taken by written consent
with respect to any Covered Shares. The obligations of such Shareholder under this Agreement, including this Article II,
shall apply whether or not a Parent Board Recommendation Change has occurred.

(c)       

Solely
in the event of a failure by such Shareholder to act in accordance with such Shareholder’s obligations as to voting pursuant
to Sections 2.1(a) and 2.1(b), such Shareholder hereby irrevocably grants to and appoints Pineapple (and any designee
thereof) as such Shareholder’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place
and stead of such Shareholder, to represent, vote and otherwise act (by voting at any meeting of shareholders of the company or
otherwise) with respect to such Shareholder’s Covered Shares solely as and to the extent set forth in this Section 2.1
until the termination of this Agreement in accordance with Section 5.1, to the same extent and with the same effect
as such Shareholder might or could do under applicable law, rules and regulations. The proxy granted pursuant to this Section
2.1(c) is coupled with an interest and is irrevocable. Such Shareholder will take such further action and will execute such
other instruments as may be necessary to effectuate the grant of this proxy. Notwithstanding the foregoing, this proxy shall terminate
upon termination of this agreement in accordance with Section 5.1.

2.2.       

Cap.
Notwithstanding any other provision of this Agreement, in no event shall any provision of this Agreement, individually or in combination
with any other provision hereof or of the Merger Agreement, be interpreted to, nor shall any person be entitled to enforce this
Agreement in a manner so as to, give rise to a “control share acquisition” or “business combination” with
an “interested shareholder” (as such terms are defined in the Minnesota Business Corporation Act (“MBCA”)
for any purpose under the MBCA, and in the event of any determination that the foregoing would be the case, the terms of this
Agreement shall be deemed modified ab initio to the extent (and only to the extent) required to avoid such a control share acquisition
or business combination. For the avoidance of doubt, in no event shall the aggregate amount of Covered Shares subject to this
Agreement exceed 19.9% of the issued and outstanding Shares (as such percentage is calculated pursuant to Section 302A.011, Subd.
41 of the MBCA), and this Section 2.2 shall be deemed to release from the obligations under this Agreement such number
of Covered Shares as may be necessary to cause such aggregate amount to not exceed such percentage.

2.3.       

No
Inconsistent Agreements. Other than this Agreement, each Shareholder confirms and agrees, severally
and not jointly, that such Shareholder (a) has not entered into, and shall not enter into at any time while this Agreement
is in effect, any voting arrangement, whether by proxy, consent, power of attorney, voting agreement, voting trust or otherwise,
with respect to the Covered Shares, (b) has not granted, and shall not grant at any time while this Agreement is in effect,
a proxy, consent or power of attorney with respect to the Covered Shares and (c) has not taken and shall not take any action
that would have the effect of making any representation and warranty of such Shareholder contained herein untrue or incorrect
or preventing or disabling such Shareholder from performing any of his or her obligations under this Agreement.

ARTICLE
III

Representations and Warranties

3.1.       

Representations
and Warranties of the Shareholders. Each Shareholder hereby represents and warrants, severally
and not jointly, to Pineapple as follows:

(a)       

Due
Authority; Validity of Agreement. Such Shareholder has all requisite legal right, power, authority and capacity to execute
and deliver this Agreement and to perform his or her obligations hereunder. This Agreement has been duly executed and delivered
by such Shareholder and, assuming this Agreement constitutes a valid and binding obligation of the other parties hereto, constitutes
a legal, valid and binding obligation of such Shareholder, enforceable against him or her in accordance with its terms, subject
to the General Enforceability Exceptions.

(b)       

Ownership.
(i) Such Shareholder is the Beneficial Owner of, and has, good, valid and marketable title to such Shareholder’s Existing
Shares, (ii) the Shareholder has sole voting power, and sole power of disposition (subject, in the case of Restricted Stock, to
the restrictions applicable thereto), with respect to all of the Existing Shares, (iii) the Existing Shares are all of the Shares
owned, either of record or beneficially, by the Shareholder as of the date hereof, (iv) the Existing Shares are free and clear
of all Encumbrances, other than liens arising under the securities Laws, any Encumbrances created by this Agreement and the restrictions
imposed by the applicable grant agreement and plan relating to any Shares that are unvested awards of “restricted shares,”
(v) the Shareholder has not appointed or granted any proxy, which appointment or grant is still effective, with respect to the
Existing Shares, and (vi) the Shareholder has the sole right and power to agree to all of the matters set forth in this Agreement.
Schedule I sets forth the number of Shares Beneficially Owned by such Shareholder as of the date hereof.

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(c)       

No
Violation. The execution, delivery and performance of this Agreement by such Shareholder do not and will not (whether with
or without notice or lapse of time, or both) (i) breach, violate, result in the loss of any benefit under, constitute a default
under, result in the termination of or a right of termination or cancellation under, or result in the creation, acceleration or
change of any rights or obligations of any party or the creation of any lien upon any of the Covered Shares under, any Contract
that is binding on such Shareholder or any of his or her properties or assets, or (ii) violate any Laws applicable to such
Shareholder or by which any of such Shareholder’s assets or properties is bound, except for any of the foregoing as would
not, individually or in the aggregate, impair the ability of such Shareholder to consummate the transactions contemplated hereby.

(d)       

Consents
and Approvals. Other than filings, permits, authorizations, consents and approvals as may be required under securities Laws,
the execution and delivery of this Agreement by such Shareholder do not, and the performance by such Shareholder of his or her
obligations under this Agreement will not, require such Shareholder to obtain any consent, approval, authorization or permit of,
or to make any filing or registration with or declaration or notification to, any Governmental Authority, except where the failure
to obtain such consents, approvals, authorizations or permits, or to make such filings, registrations, declarations or notifications,
would not, individually or in the aggregate, materially impair the ability of such Shareholder to consummate the transactions
contemplated hereby.

(e)       

Absence
of Litigation. As of the date hereof, there is no Action or Governmental Order in effect, pending or, to such Shareholder’s
knowledge, threatened against such Shareholder before or by any Governmental Authority that would, individually or in the aggregate,
impair the ability of such Shareholder to consummate the transactions contemplated hereby.

(f)       

Reliance
by Pineapple. Such Shareholder understands and acknowledges that Pineapple is entering into the Merger Agreement in reliance
upon such Shareholder’s execution and delivery of this Agreement and the representations and warranties, covenants and other
agreements of such Shareholder contained herein.

3.2.       

Representations
and Warranties of Pineapple. Pineapple hereby represents and warrants to the Shareholders as follows:

(a)       

Organization;
Authorization; Validity of Agreement; Necessary Action. Pineapple is a limited liability company, validly existing and in
good standing under the Laws of the state of Delaware. Pineapple has all limited liability company power and authority to execute
and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution
and delivery by Pineapple of this Agreement and the performance by it of its obligations hereunder have been duly and validly
authorized by Pineapple and no other limited liability company action on the part of Pineapple is necessary to authorize the execution
and delivery by it of this Agreement or the performance by it of its obligations hereunder. This Agreement has been duly executed
and delivered by Pineapple and, assuming this Agreement constitutes a valid and binding obligation of the other parties hereto,
constitutes a legal, valid and binding obligation of Pineapple, enforceable against it in accordance with its terms, subject to
the General Enforceability Exceptions.

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(b)       

No
Violation. The execution, delivery and performance of this Agreement by Pineapple and the consummation by Pineapple of the
transactions contemplated hereby do not and will not (whether with or without notice or lapse of time, or both) (i) breach
or violate any provision of the certificate of formation or operating agreement of Pineapple, (ii) breach, violate, result
in the loss of any benefit under, constitute a default under, result in the termination of or a right of termination or cancellation
under, or result in the creation, acceleration or change of any rights or obligations of any party or the creation of any lien
upon any of the properties or assets of Pineapple under, any Contract that is binding on Pineapple or (iii) violate any Law
applicable to Pineapple or by which any of Pineapple’s assets or properties is bound, except in each case as would not,
individually or in the aggregate, impair the ability of Pineapple to consummate the transactions contemplated hereby.

ARTICLE
IV

Other Covenants

4.1.       

Prohibition
on Transfers, Other Actions. Until the earlier of the Effective Time or, if earlier, the termination
of this Agreement or the Merger Agreement in accordance with their respective terms, each Shareholder hereby covenants and agrees,
severally and not jointly, not to (i) Transfer any of such Shareholder’s Covered Securities, Beneficial Ownership thereof
or any other interest specifically therein (including by tendering into any tender or exchange offer by any Person other than
Pineapple or any of its subsidiaries); (ii) enter into any agreement, arrangement or understanding with any Person (other
than Pineapple), or take any other action that would prevent or disable such Shareholder from performing his or her obligations
under this Agreement; or (iii) take any action that would result in such Shareholder not having the legal power, authority
or right to comply with and perform his or her covenants under this Agreement; provided, that this Section 4.1 shall
not prohibit the Transfer of any of the Covered Securities by such Shareholder (A) upon the death of such Shareholder, (B) to
any member of such Shareholder’s immediate family, (C) as a result of the forfeiture to Parent or cancellation of any equity
award pursuant to the terms thereof, or (D) the sale of Shares issued pursuant to an equity award upon vesting, settlement or
exercise of such equity award solely to cover the exercise price thereof or to satisfy tax obligations resulting from such vesting,
settlement or exercise; provided, however, that any Transfer referred to in the foregoing clause (A) or (B) shall
be permitted only if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form
and substance to Pineapple, to be bound by the terms of this Agreement. Any purported Transfer of the Covered Securities in violation
of this Section 4.1 shall be null and void ab initio. Promptly following the date hereof, (i) each Shareholder
and Parent shall deliver joint written instructions to Parent’s transfer agent stating that while this Agreement is in effect,
the Existing Shares cannot be Transferred in any manner without the prior written consent of Pineapple and (ii) Parent shall
(or shall cause Parent’s transfer agent to) comply with the requirements of Sections 302A.417, 302A.429 and 302A.455 of
the MBCA. If any Covered Securities are acquired after the date hereof by any of the Shareholders, the foregoing instructions
shall be delivered with respect to such newly acquired Covered Securities promptly following the acquisition of such Covered Securities.

4.2.       

No
Solicitation. From the date hereof until the Effective Time, or if earlier, the termination of
this Agreement or the Merger Agreement in accordance with their respective terms, each Shareholder, severally and not jointly
and solely in such Shareholder’s capacity as a shareholder of Parent, agrees not to, directly or indirectly, take any action
that would violate Section 7.1 of the Merger Agreement if such Shareholder were deemed a “Representative” of
Parent for purposes of such Section 7.1 of the Merger Agreement; provided, the foregoing shall not serve to limit or restrict
any actions taken by a Shareholder in any capacity other than as shareholder of Parent or to the extent such actions are permitted
or required under such Section 7.1 of the Merger Agreement.

4.3.       

Notice
of Acquisitions. Each Shareholder hereby agrees, severally and not jointly, to notify Pineapple
in writing as promptly as practicable (and in any event within two Business Days following such acquisition by such Shareholder)
of the number of any additional Shares or other securities of Parent of which such Shareholder acquires Beneficial Ownership on
or after the date hereof.

4.4.       

Waiver
of Appraisal Rights. Each Shareholder hereby irrevocably and unconditionally waives any rights
of appraisal, any dissenters’ rights and any similar rights relating to the Merger and the other Transactions that such
Shareholder may have by virtue of any Covered Shares owned by such Shareholder, including under Section 302A.471 or 302A.473 of
the MBCA.

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4.5.       

Further
Assurances. From time to time, at Pineapple’s reasonable request and expense, each Shareholder
shall execute and deliver such additional documents, transfers, assignments, endorsements, proxies, consents and other instruments
and take all such further reasonable action as may be necessary to effectuate the intent of this Agreement.

4.6.       

Parent
Agreement. Parent hereby acknowledges the restrictions on Transfers of Covered Securities contained
in Section 4.1. Parent agrees (i) not to register the Transfer (other than those permitted under Section 4.1)
of any certificated or uncertificated interest representing any Covered Securities without the prior written consent of Pineapple
and (ii) to take all such other actions reasonably necessary in furtherance of such Shareholder’s commitments hereunder,
including (to the extent reasonably within Parent’s power) prohibiting or refusing to give effect to any action in violation
hereof.

4.7.       

Public
Announcement. Each Shareholder hereby (a) consents to and authorizes the publication and disclosure
by Parent, Merger Sub and Pineapple (including in any publicly filed documents relating to the Merger and the other Transactions)
of: (i) such Shareholder’s identity, (ii) such Shareholder’s ownership of Shares of Parent or other securities of
Parent (including the number of such shares or other securities), (iii) the nature of such Shareholder’s commitments, arrangements
and understandings under this Agreement, and (iv) any other information that Pineapple or Parent determines to be necessary in
any SEC disclosure document in connection with the Merger and the other Transactions, and (b) agrees as promptly as practicable
to notify Pineapple and Parent of any required corrections with respect to any written information supplied by such Shareholder
specifically for use in any such disclosure document.

ARTICLE
V

Miscellaneous

5.1.       

Termination.
This Agreement shall remain in effect until the earliest to occur of (i) the Effective Time, (ii) the termination
of the Merger Agreement in accordance with its terms, and (iii) with respect to any Shareholder, the mutual written agreement
of Pineapple and such Shareholder, at which time this Agreement shall automatically terminate and be of no further force or effect
(other than with respect to breaches occurring prior to the termination of the Merger Agreement that caused or contributed in
any material respect to the termination of the Merger Agreement).

5.2.       

No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Pineapple any
direct or indirect ownership or incidence of ownership of or with respect to any Covered Shares, except as otherwise provided
herein. All rights, ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to
the Shareholders, and Pineapple shall have no authority to direct the Shareholders in the voting or disposition of any of the
Covered Shares, except as otherwise provided herein.

5.3.       

Notices.
All notices and other communications hereunder shall be in writing and shall be deemed duly delivered (i) three (3) Business
Days after being sent by registered or certified mail, return receipt requested, postage prepaid, or (ii) one (1) Business Day
after being sent for next Business Day delivery, fees prepaid, via a reputable overnight courier service, in each case to the
intended recipient as set forth below:

 

if
to Pineapple:

Pineapple
Energy LLC

315
East Lake Street, Suite 301

Wayzata,
MN 55391

Attn.:Scott
Honour

Marcy
Haymaker

Telephone: (952) 456-5300

Email:shonour@northernpacificgroup.com

mhaymaker@northernpacificgroup.com

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

Faegre
Drinker Biddle & Reath LLP

2200
Wells Fargo Center

90
South Seventh Street

Minneapolis,
Minnesota 55402

Attn.:
Steven Kennedy

Jonathan
Nygren

Telephone:
(612) 766-7000

Facsimile: (612) 766-1600

Email:steven.kennedy@faegredrinker.com

jon.nygren@faegredrinker.com

if
to Parent or Merger Sub:

Communications
Systems, Inc. .

10900 Red Circle Drive

Minnetonka, Minnesota 55343

Attn.: Mark Fandrich

Telephone: (952) 582-6416

Email: Mark.Fandrich@commsysinc.com

 

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

Ballard
Spahr LLP

80
S. 8th Street, Suite 2000

Minneapolis,
MN 55402

Attn.:Barbara Rummel

Peter
Jaslow

Telephone:(612)
371-3211

Facsimile:(612) 371-3207

Email:rummelb@ballardspahr.com

jaslowp@ballardspahr.com

 

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Any
party to this Agreement may give any notice or other communication hereunder using any other means (including personal delivery,
messenger service, telecopy, ordinary mail or electronic mail), but no such notice or other communication shall be deemed to have
been duly given unless and until it actually is received by the party for whom it is intended. Any party to this Agreement may
change the address to which notices and other communications hereunder are to be delivered by giving the other parties to this
Agreement notice in the manner herein set forth.

5.4.       

Interpretation

(a)       

.
When a reference is made in this Agreement to Sections or Exhibits, such reference shall be to a Section or Exhibit to this Agreement
unless otherwise indicated. The words “include,” “includes” and “including” when used herein
shall be deemed in each case to be followed by the words “without limitation.” The word “extent” in the
phrase “to the extent” means the degree to which a subject or other thing extends, and such phrase does not mean simply
“if”. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. Whenever the context may require, any pronouns used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and
vice versa. Any reference to any Law shall be deemed to refer to such Law as from time to time amended and also to all rules and
regulations promulgated thereunder and interpretations thereof, unless the context requires otherwise. Any reference to any Contract
or other document means such Contract or document as from time to time amended, modified or supplemented and includes all exhibits,
schedules or other attachments thereto. The parties hereto agree that they have been represented by counsel during the negotiation,
drafting, preparation and execution of this Agreement and, therefore, waive the application of any Law or rule of construction
providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

5.5.       

Counterparts
and Signatures. This Agreement may be executed in two or more counterparts (including by facsimile or by an electronic scan delivered
by electronic mail), each of which shall be deemed an original but all of which together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each of the parties hereto and delivered to the other
parties, it being understood that all parties need not sign the same counterpart. This Agreement may be executed and delivered
by facsimile, by an electronic scan delivered by electronic mail or by electronic signature.

 

5.6.       

Entire
Agreement. This Agreement (including the Schedule hereto and the documents and instruments referred
to herein) contains all of the terms of the understandings of the parties hereto with respect to the subject matter hereof and
supersedes any prior understandings, agreements or representations by or among the parties hereto, or any of them, written or
oral, with respect to the subject matter hereof, and the parties hereto specifically disclaim reliance on any such prior understandings,
agreements or representations to the extent not embodied in this Agreement.

5.7.       

Governing
Law; Submission to Jurisdiction; Waivers

.

(a)       

This
Agreement, and any dispute arising out of, relating to, or in connection with this Agreement shall be governed by and construed
in accordance with the internal Laws of the State of Minnesota without giving effect to any choice or conflict of Law provision
or rule (whether of the State of Minnesota or any other jurisdiction) that would cause the application of the Laws of any jurisdiction
other than the State of Minnesota.

(b)       

The
parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in any state or federal court located

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in
Minneapolis, Minnesota (the “Chosen Court”) in any action or proceeding arising
out of or relating to this Agreement, (b) agrees that all claims in respect of such action or proceeding shall be heard and determined
in any such Chosen Court, (c) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other
request for leave from any such Chosen Court and (d) agrees not to bring any action or proceeding arising out of or relating to
this Agreement or any of the transactions contemplated by this Agreement in any other court. Each of the parties hereto waives
any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other
security that might be required of any other party with respect thereto. Each of Parent, Pineapple and each Shareholder hereby
agrees that service of any process, summons, notice or document by U.S. registered mail to the respective addresses set forth
in Section 5.3 shall be effective service of process for any proceeding arising out of, relating to or in connection with
this Agreement.

(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, the transactions contemplated hereby or the
actions of Pineapple, Parent, Merger Sub or the Shareholders in the negotiation, administration, performance and enforcement of
this Agreement.

5.8.       

Amendment;
Waiver; Expenses

.

(a)       

This
Agreement may not be amended, except by an instrument in writing signed by each of the parties hereto. Each party hereto may waive
any right of such party hereunder by an instrument in writing signed by such party and delivered to the other parties hereto.

(b)       

All
fees and expenses incurred in connection with this Agreement and the Transactions shall be paid by the party incurring such fees
and expenses, whether or not the Merger is consummated.

5.9.       

Enforcement;
Specific Performance. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party will be
deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise
by a party of any one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms
or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an injunction or injunctions
to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement without posting a
bond or undertaking, this being in addition to any other remedy to which they are entitled at law or in equity.

5.10.       

Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not
affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction
declares that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination
shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable
term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of
the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court
does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable
term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business
and other purposes of such invalid or unenforceable term.

5.11.       

Assignment.
No party hereto may assign any of its rights or delegate any of its performance obligations under this Agreement, in whole
or in part, by operation of law or otherwise without the prior written consent of the other parties hereto, and any such assignment
or attempted or purported assignment without such prior written consent shall be null and void. Subject to the preceding sentence,
this Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors
and permitted assigns. Any purported assignment of rights or delegation of performance obligations in violation of this Section
5.11 shall be void.

    	Voting Agreement
	Page 8

    	 

    

5.12.       

Shareholder
Capacity. Each Shareholder is entering into this Agreement solely in his or her capacity as the
Beneficial Owner of Shares, and not such Shareholder’s capacity as a director or, if applicable, officer of Parent or any
of its subsidiaries. Accordingly, notwithstanding anything to the contrary contained in this Agreement, nothing herein shall in
any way (a) restrict or limit such Shareholder from taking (or omitting to take) any action in his or her capacity as a director
or officer of Parent taken in order to fulfill his or her fiduciary obligations under applicable Law or (b) restrict or limit
(or require such Shareholder to attempt to restrict or limit) such Shareholder from acting in such capacity or voting in such
capacity in the good faith exercise of his or her fiduciary duties under applicable Law.

[Signature
page follows]

    	Voting Agreement
	Page 9

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed (where applicable, by their respective officers or
other authorized Person thereunto duly authorized) as of the date first written above.

PINEAPPLE
ENERGY LLC

 

 

By:

Name:

Title:

    	Voting Agreement
	Signature Page

    	 

    

 

COMMUNICATIONS
SYSTEMS, INC.

 

 

By:

Name:

Title:

 

THE
SHAREHOLDERS:

  

Mark
Fandrich

  

Anita
Kumar

  

Roger
H.D. Lacey

  

Richard
A. Primuth

  

Randall
D. Sampson

  

Steven
C. Webster

  

Michael
R. Zapata

 

 

    	Voting Agreement
	Signature Page

    	 

    

Schedule
I

 

Existing
Shares Beneficially Owned by Shareholders

 

 

Each
of the Shareholders set forth below Beneficially Owns or owns of record the following Existing Shares as of the date first written
above:

 

 

	Shareholder	#
    Shares 
	Mark
    Fandrich	23,856
    
	Anita
    Kumar	8,195
    
	Roger
    H.D. Lacey	94,210
    
	Richard
    A. Primuth	26,129
    
	Randall
    D. Sampson	1,124,893
	Steven
    C. Webster	5,000
	Michael
    R. Zapata	0

 

 

    	Voting Agreement
	Schedule ICONTINGENT
VALUE RIGHTS AGREEMENT

THIS
CONTINGENT VALUE RIGHTS AGREEMENT, dated as of [●], 2021 (this “Agreement”), by and among COMMUNICATIONS
SYSTEMS, INC., a Minnesota corporation (the “Parent”), [●], as Rights Agent (the “Rights Agent”),
and [●], in [its/his/her] capacity as the initial CVR Holders’ Representative (the “CVR Holders’ Representative”).

Recitals

WHEREAS,
the Parent, Helios Merger Co., a Delaware corporation and direct wholly owned subsidiary of the Parent (the “Merger Sub”),
and Pineapple Energy, LLC, a Delaware limited liability company (the “Company”), entered into an Agreement
and Plan of Merger dated as of March 1, 2021 (the “Merger Agreement”), pursuant to which the Merger Sub will
merge with and into the Company (the “Merger”), with the Company surviving the Merger as a subsidiary of the
Parent;

WHEREAS,
pursuant to the Merger Agreement, the Parent agreed to issue and distribute to the Persons, who as of immediately prior to the
Effective Time are shareholders of record of the Parent, the right to receive certain contingent value rights, on the terms and
subject to the conditions hereinafter described; and

WHEREAS,
the Parent desires that the Rights Agent act as its agent for the purposes of effecting the distribution of the CVRs (as hereinafter
defined) to those shareholders of the Parent entitled to receive CVRs and performing the other services described in this Agreement.

NOW
THEREFORE, in consideration of the foregoing
and the consummation of the transactions referred to above, the parties hereto, intending to be legally bound, agree as follows:

ARTICLE
I

DEFINITIONS

Section
1.1.Definitions. For all purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires:

(a)       the
terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

(b)       all
accounting terms used herein and not expressly defined herein shall have the meanings assigned to such terms in accordance with
United States generally accepted accounting principles, as in effect on the date hereof;

(c)       the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement
as a whole and not to any particular Article, Section or other subdivision;

(d)       unless
the context otherwise requires, words describing the singular number shall include the plural and vice versa, words denoting any
gender shall include all genders and

     

    	 

    

words
denoting natural Persons shall include corporations, limited liability companies, partnerships and other Persons and vice versa;

(e)       all
references to “including” shall be deemed to mean including without limitation; and

(f)       capitalized
terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Merger Agreement. The following terms
shall have the meanings ascribed to them as follows:

“Accountant”
has the meaning set forth in Section 2.8.

“Affiliate”
means, with respect to any Person, any Person that controls, is controlled by, or is under common control with such Person.

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in Minneapolis, Minnesota
are authorized or required by Law to be closed for business.

“CVR
Escrow” means a segregated escrow account in which all: (i) Net Proceeds, and (ii) the Reserve Fund amounts,
if any, will be held until disbursed pursuant to the terms of this Agreement.

“CVR
Payment Amount” means (a)(i) with respect to any Legacy Monetization for which a Disposition Agreement is entered into
prior to the Effective Time, 100% of the Net Proceeds in respect of each respective item of Gross Proceeds received by the Parent
or any of its Affiliates regardless of when any such Gross Proceeds are actually received, or (ii) with respect to any Legacy
Monetization for which a Disposition Agreement is entered into following the Effective Time, 90% of Net Proceeds in respect of
each respective item of Gross Proceeds received by the Parent or any of its Affiliates as a result of any Legacy Monetization
regardless of when any such Gross Proceeds are actually received, less (b) any Reserve Fund amounts applicable to each
such respective item of Gross Proceeds. Notwithstanding the foregoing, any CVR Payment Amount that is less than $200,000 shall
be aggregated with the next subsequent CVR Payment Amount, and if not paid prior thereto, included in the Final CVR Payment and,
further provided, in no event shall any CVR Payment, including the Final CVR Payment, be made if the CVR Payment Amount would
be less than $50,000 in the aggregate.

“CVR
Payment Date” means the 75th day after the end of the calendar quarter in which a respective item of Gross Proceeds
is received by the Parent.

“CVR
Payment Period” means each calendar quarter during the CVR Term, with the first CVR Payment Period commencing on the
date hereof and ending on [●], 2021.

“CVR
Payment Statement” means, for a given CVR Payment Period, a written statement of the Parent, setting forth in reasonable
detail, (i) the CVR Payment Amount for such CVR Payment Period, (ii) a description of the total amounts received during such CVR
Payment Period from each Legacy Monetization, and (iii) a calculation of any Monetization Expenses during such CVR Payment Period.

    	 	1	 

    	 

    

“CVR
Register” has the meaning set forth in Section 2.4(b).

“CVR
Registrar” has the meaning set forth in Section 2.4(b).

“CVRs”
means the contingent value rights issued by the Parent as contemplated by this Agreement. Unless otherwise specified herein, for
purposes of this Agreement all the CVRs shall be considered as part of and shall act as one class only.

“CVR
Term” means the period beginning on the Effective Time and ending on the date that is eighteen (18) months following
the Effective Time.

“Disposition
Agreement” means a definitive agreement, contract or other document entered into by the Parent providing for the sale,
transfer, disposition, spin-off, or license of all or any part of the Parent Legacy Assets.

“DTC”
means The Depository Trust Company or any successor thereto.

“Effective
Time” has the meaning set forth in the Merger Agreement.

“Final
CVR Payment” means the CVR Payment Date on which the last CVR Payment related to all the Legacy Monetization is made.

“Gross
Proceeds” means all cash or cash proceeds (and the fair market value, as determined by the Parent, as of the time of
receipt of such non-cash consideration, of all non-cash consideration such as stock or marketable securities) received by the
Parent from a Legacy Monetization.

“Holder”
means a Person in whose name a CVR is registered in the CVR Register.

“Legacy
Monetization” means the sale, transfer, disposition, spin-off, or license of all or any part of the Parent Legacy Assets,
which transaction is consummated during the CVR Term. A Legacy Monetization will also include the distribution of any cash or
cash equivalents (“Legacy Cash”) that are a part of the Parent Legacy Assets in any amount that is in excess
of the liabilities and obligations relating to Parent or the Parent Legacy Assets at the Effective Time.

“Legacy
Shareholders” has the meaning set forth in Section 2.2.

“Monetization
Expenses” means:

(a)       any
expenses incurred or accrued relating to an unpaid invoice by the Parent or any of its Affiliates as a result of pursuing, negotiating,
entering into and closing any Legacy Monetization, fees and out-of-pocket expenses of the Rights Agent and CVR Holders’
Representative and any other brokerage fee, finder’s fee, success fees, transaction fees, service fees, commission, accountant
fees, advisor fees, legal fees and similar items in incurred as a result of pursuing, negotiating, entering into and closing any
Legacy Monetization, provided, however, that, in each case, in no event shall the Monetization Expenses include any administrative
or similar expenses or fees payable by the Parent in connection with its general overhead;

    	 	2	 

    	 

    

(b)       any
applicable Tax (including any applicable value added or sales taxes) imposed on Gross Proceeds and payable by the Parent or any
of its Affiliates (regardless of whether the due date for such Taxes arises during or after the CVR Term) and, without duplication,
any income or other similar Taxes payable by the Parent or any of its Affiliates that would not have been incurred by the Parent
or any of its Affiliates but for the Legacy Monetization or Gross Proceeds; provided that such Taxes shall be computed after taking
into account any available net operating loss carryforwards or other Tax attributes existing as of the Effective Time actually
recognized by the Parent or its Affiliates;

(c)       to
the extent not paid with Legacy Cash or by revenue generated solely by the Parent Legacy Assets prior to the closing of the Legacy
Monetization, any expenses incurred by Parent or any of its Affiliates in respect of the performance of this Agreement following
the Effective Time, including preserving and maintaining any Parent Legacy Assets, indemnification expenses with respect to Parent
Legacy Assets, allocation of rent expenses or in respect of its performance of any Contract in connection with any Parent Legacy
Assets, including any costs related to the prosecution, maintenance or enforcement by Parent or any of its Affiliates of intellectual
property rights in the Parent Legacy Assets;

(d)       any
loss, liability, damage, judgment, fine, penalty, cost or expense incurred or reasonably
expected to be incurred by Parent or any of its Affiliates arising out of any third-party claims, demands, actions, or other proceedings
relating to any disposition of Parent Legacy Assets, including indemnification obligations of the Parent or any of its Affiliates
set forth in any Disposition Agreement; and

(e)       to
the extent not paid by revenue generated solely by the Parent Legacy Assets prior to the closing of the Legacy Monetization, any
Liabilities borne by the Parent or any of its Affiliates pursuant to any Contract or Disposition Agreement primarily related to
Parent Legacy Assets, including costs or severance payments and benefits arising from the termination thereof and the termination
of employees of Parent whose position related primarily to the Parent Legacy Assets; provided, that obligations under the change
in control agreements related to the persons set forth on Schedule 2 shall not constitute Monetization Expenses unless
these scheduled individuals are notified of termination of employment or the individuals notify Parent of their intent to terminate
their employment prior to the Effective Time.

“Net
Proceeds” means, with respect to each respective Legacy Monetization, the excess, if any, of (i) all Gross Proceeds
less (ii) all Monetization Expenses. For clarity, to the extent Monetization Expenses
exceed Gross Proceeds for any CVR Payment Period, any excess Monetization Expenses shall be applied against Gross Proceeds in
subsequent CVR Payment Periods.

“Notice
of Objection” has the meaning set forth in Section 2.5(b).

“Parent
Legacy Assets” means any and all assets, properties, and equipment of the Parent in existence as of the Effective Time;
provided, that the Parent Legacy Assets shall not include any cash or cash equivalents in existence as of the Effective Time to
cover the earn out obligations relating to Parent’s acquisition of IVDesk Minnesota, Inc. (the “Earn Out”);
however, following the satisfaction of all obligations relating to the Earn Out, any remaining Earn Out amounts shall

    	 	3	 

    	 

    

constitute
Parent Legacy Assets. Notwithstanding the foregoing, Parent may retain and utilize duplicate copies of the books and records of
Parent.

“Permitted
Transfer” means: (i) a transfer of any or all of the CVRs (upon the death of the Holder) by will or intestacy;
(ii) a transfer by instrument to an inter vivos or testamentary trust in which the CVRs are to be passed to beneficiaries
under the terms of such trust; (iii) transfers made pursuant to a court order of a court of competent jurisdiction (such
as in connection with divorce, bankruptcy or liquidation); (iv) a transfer made by operation of law (including a consolidation
or merger) or in connection with the dissolution, liquidation or termination of any corporation, limited liability company, partnership
or other entity; (v) a transfer from a participant’s account in a tax-qualified employee benefit plan to the participant
or to such participant’s account in a different tax-qualified employee benefit plan or to a tax-qualified individual retirement
account for the benefit of such participant; or (vi) a transfer from a participant in a tax-qualified employee benefit plan,
who received the CVRs from such participant’s account in such tax-qualified employee benefit plan, to such participant’s
account in a different tax-qualified employee benefit plan or to a tax-qualified individual retirement account for the benefit
of such participant.

“Person”
means any individual, firm, corporation, limited liability company, partnership, trust or other entity, and shall include any
successor (by merger or otherwise) thereof or thereto.

“Reserve
Fund” means, with regard to each particular Legacy Monetization other than a distribution of Legacy Cash, a reasonable
amount to be determined by the Parent, not to exceed: (i) in the case of any Legacy Monetization for which a Disposition Agreement
is entered into prior to the Effective Time, 7.5% of the Gross Proceeds of such Legacy Monetization, and (ii) in the case of any
Legacy Monetization for which a Disposition Agreement is entered into following the Effective Time, 6.75% of the Gross Proceeds
of such Legacy Monetization, which is to be retained as part of the CVR Escrow in accordance with this Agreement to satisfy any
indemnification obligations of the Parent contained in the Disposition Agreement for such Legacy Monetization in excess of any
escrow fund established pursuant to the Disposition Agreement for such Legacy Monetization for purposes of satisfying the Parent’s
indemnification obligations thereunder.

“Surviving
Person” has the meaning set forth in Section 6.1(a).

ARTICLE
II

CONTINGENT VALUE RIGHTS

Section
2.1.Appointment of Rights Agent. The Parent hereby appoints [●] to act as the
Rights Agent for the Parent in accordance with the instructions hereinafter set forth in this Agreement, and the Rights Agent
hereby accepts such appointment.

Section
2.2.Issuance of CVRs. The CVRs shall be issued and distributed by the Rights Agent after
the Effective Time to the Persons who as of the close of trading on the Nasdaq Capital Market on the Business Day before the Effective
Time are shareholders of record of the Parent (the “Legacy Shareholders”). Each Legacy Shareholder is entitled
to one (1) CVR for each share of Parent Common Stock held by such Legacy Shareholder as of immediately prior to the Effective
Time.

    	 	4	 

    	 

    

Section
2.3.Nontransferable. The CVRs shall not be sold, assigned, transferred, pledged, encumbered
or in any other manner transferred or disposed of, in whole or in part, other than through a Permitted Transfer. The
CVRs will not be listed on any quotation system or traded on any securities exchange.

Section
2.4.No Certificate; Registration; Registration of Transfer; Change of Address.

(a)       The
CVRs shall be issued in book-entry form only and shall not be evidenced by a certificate or other instrument.

(b)       The
Rights Agent shall keep a register (the “CVR Register”) for the registration of CVRs. The Rights Agent is hereby
initially appointed as the registrar and transfer agent (the “CVR Registrar”) for the purpose of registering
CVRs and transfers of CVRs as herein provided. The CVR Register will initially show one
position for Cede & Co. representing shares of Parent Common Stock held by DTC on behalf of the street holders of the
shares of Parent Common Stock held by such holders as of immediately prior to the Effective Time. The Rights Agent will have no
responsibility whatsoever directly to the street name holders with respect to transfers of CVRs. With respect to any payments
or issuances to be made under this Agreement, the Rights Agent will accomplish the payment to any former street name holders of
shares of Parent Common Stock by sending one lump-sum payment or issuance to DTC. The Rights Agent will have no responsibilities
whatsoever with regard to the distribution of payments by DTC to such street name holders.

(c)       Subject
to the restriction on transferability set forth in Section 2.3, every request made to effect a Permitted Transfer of a
CVR must be in writing and accompanied by a written instrument or instruments of transfer and any other requested documentation
in a form reasonably satisfactory to the Parent and the CVR Registrar, duly executed by the registered Holder or Holders thereof
or by the duly appointed legal representative thereof. A request for a transfer of a CVR shall be accompanied by such documentation
establishing satisfaction that the transfer is a Permitted Transfer as may be reasonably requested by the Parent and the CVR Registrar
(including opinions of counsel), if appropriate. Upon receipt of such written notice, the CVR Registrar shall, subject to its
reasonable determination that the transfer instrument is in proper form and the transfer otherwise complies with the other terms
and conditions herein, register the transfer of the CVRs in the CVR Register. All duly transferred CVRs registered in the CVR
Register shall be the valid obligations of the Parent, evidencing the same right and shall entitle the transferee to the same
benefits and rights under this Agreement, as those held by the transferor. No transfer of a CVR shall be valid until registered
in the CVR Register, and any transfer not duly registered in the CVR Register will be void ab initio. Any transfer or assignment
of the CVRs shall be without charge (other than the cost of any transfer Tax which shall be the responsibility of the transferor)
to the Holder. The Parent and the Rights Agent may require evidence of payment of a sum
sufficient to cover any stamp, documentary, registration, or other Tax or governmental charge that is imposed in connection with
any such registration of transfer (or evidence that such Taxes and charges are not applicable). 

(d)       A
Holder (or the CVR Holders’ Representative, on behalf of a Holder) may make a written request to the CVR Registrar to change
such Holder’s address of record in the CVR

    	 	5	 

    	 

    

Register.
The written request must be duly executed by the Holder and conform to such other reasonable requirements as the CVR Registrar
may from time to time establish. Upon receipt of such proper written notice, the CVR Registrar shall promptly record the change
of address in the CVR Register.

(e)       The
Parent will provide written instructions to the Rights Agent for the distribution of CVRs to holders of Parent Common Stock as
of immediately prior to the Effective Time. Subject to the terms and conditions of this Agreement and the Parent’s prompt
confirmation of the Effective Time, the Rights Agent shall effect the distribution of the CVRs, less any applicable withholding
tax, to each holder of Parent Common Stock as of the Effective Time by the mailing of a statement of holding reflecting such CVRs.

Section
2.5.Payment Procedures.

(a)       Within
forty-five (45) days after the end of each CVR Payment Date during the CVR Term in which the Parent received Gross Proceeds, the
Parent shall deliver to the CVR Representative and Rights Agent a CVR Payment Statement for such CVR Payment Period. Concurrent
with the delivery of each CVR Payment Statement, the Parent shall provide the CVR Representative and Rights Agent with reasonable
documentation to support its calculation of the CVR Payment and Monetization Expenses. Upon the CVR Holders’ Representative’s
request, the Parent shall make its accounting personnel available during normal business hours to the CVR Holders’ Representative
or its authorized representative to discuss and answer questions with respect to the calculation of the CVR Payment Amount. Within
fifteen (15) days after the CVR Holders’ Representative’s receipt of all information contemplated by this Section
2.5(a), the CVR Holders’ Representative may deliver a written notice to the Parent (with a copy to the Rights Agent)
specifying that the CVR Holders’ Representative objects to the indicated CVR Payment Amount (a “Notice of Objection”),
and stating the reason upon which the CVR Holders’ Representative has determined that (i) a CVR Payment Amount is due and
payable, or (ii) the calculation of the CVR Payment Amount is in error. Any Notice of Objection shall identify in reasonable detail
the nature of any proposed revisions to the CVR Payment. Any dispute arising from a Notice of Objection shall be resolved in accordance
with Section 7.4 or by an independent third party valuation expert selected by the Parent and the CVR Holders’ Representative
(and subject to the execution of a reasonable and customary confidentiality/nonuse agreement), whose decision shall be binding
on the parties hereto and every Holder. The fees charged by the valuation expert referenced in the foregoing sentence shall be
allocated between the Parent and the Holders (by deduction from the CVR Payment Amount) in the same proportion that the disputed
amount of the CVR Payment Amount that was unsuccessfully disputed by (as finally determined by the valuation expert) bears to
the total disputed amount of the CVR Payment Amount.

(b)       On
or before each CVR Payment Date, the Parent shall deliver to the Rights Agent and cause the Rights Agent to deliver to the Holders,
pro rata as to their CVR holdings, the amount of the indicated CVR Payment Amount. It is understood that all Monetization Expenses
shall be applied in full (but without duplication) against respective Gross Proceeds. Any Reserve Fund amounts in the CVR Escrow
established for a Legacy Monetization shall be released from such Reserve Fund upon the earlier of: (i) twelve (12) months following
the consummation of the applicable Legacy Monetization; and (ii) the expiration of any generally applicable indemnity escrow established
for purposes of breaches of the Parent’s representations and warranties in any

    	 	6	 

    	 

    

Disposition
Agreement. Thereafter, any such released Reserve Fund amounts shall be included by the Parent in the CVR Payment Amount paid on
the next CVR Payment Date.

(c)       All
payments by the Parent hereunder shall be made in U.S. dollars. The Parent shall be entitled to deduct and withhold, or cause
to be deducted or withheld, from each CVR Payment Amount otherwise payable pursuant to this Agreement, such amounts as Parent
is required to deduct and withhold with respect to the making of such payment under the Internal Revenue Code of 1986, as amended
or succeeded, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld or paid over to
or deposited with the relevant governmental entity, such withheld amounts shall be treated for all purposes of this Agreement
as having been paid to the Holder in respect of which such deduction and withholding was made.

Section
2.6.No Voting, Dividends or Interest; No Equity or Ownership Interest in Parent.

(a)       The
CVRs shall not have any voting or dividend rights, and interest shall not accrue on any amounts payable on the CVRs.

(b)       The
CVRs shall not represent any equity or ownership interest in the Parent (or in any constituent company to the Merger) or in any
Parent Legacy Assets or other asset. It is hereby acknowledged and agreed that the CVRs shall not represent a security of the
Parent. The rights or remedies of the holders of CVRs are contractual rights limited to those expressly set forth in this Agreement,
and such Holders’ sole right to receive property is the right to receive cash from the Parent in accordance with the terms
hereof.

(c)       Each
Holder acknowledges and agrees to the appointment and authority of the CVR Holders’ Representative to act as the exclusive
representative, agent and attorney-in-fact of such Holder and all Holders as set forth in this Agreement. Each Holder agrees that
such Holder will not challenge or contest any action, inaction, determination or decision of the CVR Holders’ Representative
or the authority or power of the CVR Holders’ Representative and will not threaten, bring, commence, institute, maintain,
prosecute or voluntarily aid any action, which challenges the validity of or seeks to enjoin the operation of any provision of
this Agreement, including the provisions relating to the authority of the CVR Holders’ Representative to act on behalf of
such Holder and all Holders as set forth in this Agreement.

(d)       It
is hereby acknowledged and agreed that the CVRs and the possibility of any payment hereunder with respect thereto are highly speculative
and subject to numerous factors outside of the Parent’s control, and there is no assurance that Holders will receive any
payments under this Agreement or in connection with the CVRs. Each Holder acknowledges that it is highly possible that no Legacy
Monetization will occur prior to the expiration of the CVR Term and that there will not be any Gross Proceeds that may be the
subject of a CVR Payment Amount. 

Section
2.7.Discretion and Decision Making Authority; No Fiduciary Duty.

(a)       Until
the expiration of the CVR Term, the CVR Holders’ Representative and the Parent shall cooperate to use commercially reasonable
efforts to pursue Legacy Monetizations, and the CVR Holders’ Representative shall have the final discretion and decision
making authority, not to be unreasonably withheld, over the final terms of each Legacy

    	 	7	 

    	 

    

Monetization,
including the particular manner, and upon what terms and conditions each Legacy Monetization is consummated; provided, that, any
such Legacy Monetization shall require the Parent to execute the Disposition Agreement (so long as such Disposition Agreement
does not include unreasonable burdens or obligations on the Parent). In furtherance of the foregoing:

(i)       the
Parent shall not, before the expiration of the CVR Term, sell, transfer, dispose, spin-off, or license any Parent Legacy Assets
or use Legacy Cash, except pursuant to a Legacy Monetization agreed to by the CVR Holders’ Representative or in the ordinary
course of business of the Parent Legacy Assets consistent with past practice;

(ii)       the
Parent shall not before the expiration of the CVR Term terminate or intentionally materially negatively impact the Parent Legacy
Assets, including by failing to preserve and maintain the Parent Legacy Assets, without the prior written approval of the CVR
Holders’ Representative, which consent shall not be unreasonably withheld, conditioned or delayed; and

(iii)       the
Parent shall pay $[●] to the CVR Holders’ Representative at the Effective Time as compensation for services rendered
by the CVR Holders’ Representative pursuant to this Agreement.

(b)       The
CVR Holders’ Representative, after good faith discussions with Parent, shall be entitled to be reimbursed from the CVR Escrow
for direct costs and expenses related to any Legacy Monetization.

(c)       It
is acknowledged and agreed that neither the Parent nor its Affiliates owe, by virtue of their obligations under this Agreement,
a fiduciary duty or any implied duties to the Holders and the parties hereto, and the Parent and its Affiliates intend solely
the express provisions of this Agreement to govern their contractual relationship with respect to the CVRs. It is acknowledged
and agreed that this Section 2.7(c) is an essential and material term of this Agreement. Except as expressly set
forth herein, none of the Parent or any of its Subsidiaries shall have any obligation or liability whatsoever to any Holder relating
to or in connection with any action, or failure to act, with respect to the sale of the Parent Legacy Assets. Following the CVR
Term, the Parent shall be permitted to take any action in respect of the Parent Legacy Assets in order to satisfy any wind-down
Liabilities associated with the Parent Legacy Assets.

Section
2.8.Audit Right and Information Rights.

(a)       Prior
to the termination of this Agreement, upon not less than forty-five (45) calendar days’ prior written request by the CVR
Holders’ Representative, the Parent shall meet at reasonable times during normal business hours with the CVR Holders’
Representative to discuss the content of any CVR Payment Statement. Such meeting shall not be requested more frequently than twice
each calendar year. The Parent agrees to maintain, for at least one year after the last possible Legacy Monetization, all books
and records relevant to the calculation of a CVR Payment Amount and the amount of Net Proceeds. Prior to the termination of this
Agreement (but not requested more frequently than once per calendar year), subject to not less than forty-five (45) calendar days
advance written notice from the CVR Holders’ Representative and prior execution

    	 	8	 

    	 

    

and
delivery by it and an independent accounting firm of national reputation chosen by the CVR Holders’ Representative (the
“Accountant”) of a reasonable and customary confidentiality/nonuse agreement, the Parent shall permit the CVR
Holders’ Representative and the Accountant, acting as agent of the CVR Holders’ Representative, at the CVR Holders’
Representative’s cost, to have access during normal business hours to the books and records of the Parent as may be reasonably
necessary to (and for the sole purpose) audit the calculation of such CVR Payment Amount or the calculation of the amount of Net
Proceeds.

(b)       Commencing
at the Effective Time and ending on the Final CVR Payment date, the CVR Holders’ Representative will have access to the
schedule of deposits and releases regarding the CVR Escrow.

Section
2.9.Termination. This Agreement will expire and be of no force or effect, the parties
hereto will have no liability hereunder (other than with respect to monies due and owing by the Parent to the CVR Holders’
Representative, if applicable, and the Rights Agent or any other rights of the Rights Agent which expressly survive the termination
of this Agreement), and no additional payments will be required to be made (and the CVRs
will expire without any consideration or compensation therefor), upon the earlier of (a) the payment of the full amount
of all CVR Payment Amounts to the Rights Agent and the payment of the full amount of all CVR Payment Amounts to the Holders by
the mailing by the Rights Agent of each applicable CVR Payment Amount to each Holder at the address reflected in the CVR Register
and (b) the expiration of the CVR Term; provided that this Agreement shall remain in effect and not limit
the right of Holders to receive the CVR Payment Amounts to the extent earned prior to the expiration of this Agreement or held
in the CVR Escrow or Reserve Fund, and the provisions applicable thereto will survive the expiration of this Agreement until such
CVR Payments have been made, if applicable.

Section
2.10.Ability to Abandon CVR. A Holder may at any time, at such Holder’s option,
abandon all of such Holder’s remaining rights in a CVR by transferring such CVR to the Parent with or without consideration
therefor. Nothing in this Agreement is intended to prohibit the Parent from offering to acquire CVRs for consideration in its
sole discretion.

ARTICLE
III

THE RIGHTS AGENT

Section
3.1.Certain Duties and Responsibilities. The Rights Agent shall not have any liability
for any actions taken or not taken in connection with this Agreement, except to the extent of its willful misconduct, fraud, bad
faith or gross negligence. No provision of this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers.

Section
3.2.Certain Rights of Rights Agent. The Rights Agent undertakes to perform such duties
and only such duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into
this Agreement against the Rights Agent. The Rights Agent will report to both the CVR Holders’ Representative and Parent.
In addition:

    	 	9	 

    	 

    

(a)       the
Rights Agent may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties;

(b)       the
Rights Agent may engage and consult with counsel of its selection and the written advice of such counsel or any opinion of counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon;

(c)       in
the event of arbitration, the Rights Agent may engage and consult with tax experts, valuation firms and other experts and third
parties that it, in its sole and absolute discretion, deems appropriate or necessary to enable it to discharge its duties hereunder;

(d)       the
Rights Agent shall not be required to give any note or surety in respect of the execution of such powers or otherwise in respect
of the premises; and

(e)       the
Parent agrees to indemnify the Rights Agent for, and hold the Rights Agent harmless against, any loss, liability, claim, demands,
suits or expense arising out of or in connection with the Rights Agent’s duties under this Agreement, including the costs
and expenses of defending the Rights Agent against any claims, charges, demands, suits or loss, unless such loss shall have been
determined by a court of competent jurisdiction to be a result of the Rights Agent’s willful misconduct, fraud, bad faith
or gross negligence or for the fees of counsel and expenses in connection with any lawsuit initiated by the Rights Agent on behalf
of itself or the Holders.

(f)       The
Parent agrees (i) to pay the fees and expenses of the Rights Agent in connection with this Agreement, as set forth on Schedule
1 hereto, and (ii) to reimburse the Rights Agent for all taxes and governmental charges, reasonable expenses and other charges
of any kind and nature incurred by the Rights Agent in the execution of this Agreement (other than taxes measured by the Rights
Agent’s net income). The Rights Agent shall also be entitled to reimbursement from the Parent for all reasonable and necessary
out-of-pocket expenses paid or incurred by it in connection with the administration by the Rights Agent of its duties hereunder.
An invoice for the agreed-upon fee of the Rights Agent as set forth on Schedule I will be rendered a reasonable time prior
to, and paid on, the Effective Time. The foregoing shall not apply to the extent an expense
has been determined by a decision of a court of competent jurisdiction to have resulted from the Rights Agent’s gross negligence,
fraud, bad faith or willful misconduct. An invoice for any out-of-pocket expenses and per item fees realized will be rendered
and payable within thirty (30) days after receipt by the Parent.

Section
3.3.Resignation and Appointment of Successor.

(a)       The
Rights Agent may resign at any time by giving written notice thereof to the Parent specifying a date when such resignation shall
take effect, which notice shall be sent at least thirty (30) days prior to the date so specified.

(b)       If
the Rights Agent resigns or become incapable of acting, the Parent shall promptly appoint a qualified successor Rights Agent who
may be the CVR Holders’ Representative or a Holder but shall not be an officer of the Parent. The successor Rights Agent

    	 	10	 

    	 

    

so
appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the successor
Rights Agent.

(c)       The
Parent shall give notice of each resignation and each removal of a Rights Agent and each appointment of a successor Rights Agent
by mailing written notice of such event by first-class mail, postage prepaid, to the CVR Holders’ Representative. The CVR
Holders’ Representative shall forward such notice to the Holders.

Section
3.4.Acceptance of Appointment by Successor. Every successor Rights Agent appointed hereunder
shall execute, acknowledge and deliver to the Parent, the CVR Holders’ Representative and to the retiring Rights Agent an
instrument accepting such appointment and a counterpart of this Agreement, and thereupon such successor Rights Agent, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Rights
Agent; provided, that upon the request of Parent, the CVR Holders’ Representative or the successor Rights Agent, such retiring
Rights Agent shall execute and deliver an instrument transferring to such successor Rights Agent all the rights, powers and trusts
of the retiring Rights Agent.

ARTICLE
IV

COVENANTS

Section
4.1.List of Holders. The CVR Holders’ Representative shall furnish or cause to
be furnished to the Rights Agent the names, addresses and shareholdings of the Holders immediately prior to the Effective Time.
The Parent shall cause the CVR Registrar to promptly provide a copy of the CVR Register to the CVR Holders’ Representative
upon reasonable request.

Section
4.2.Provision of CVR Payment Amounts. The Parent shall promptly provide the Rights Agent
with the applicable cash payable in respect of any CVR Payment Amount, if any, to be distributed to the Holders in accordance
with the terms of this Agreement.

Section
4.3.Assignments. The Parent shall not, in whole or in part, assign any of its obligations
under this Agreement other than in accordance with the terms of Section 6.1 or Section 7.2 hereof. At any time,
the CVR Holders’ Representative may assign any of its rights or obligations under this Agreement (or this Agreement in its
entirety) to any third party (reasonably acceptable to the Parent) to serve as a successor CVR Holders’ Representative,
provided that such assignee executes a written joinder to this Agreement assuming the rights and duties of the CVR Holders’
Representative. The CVR Holders’ Representative will incur no liability of any kind to the Holders with respect to any action
or omission by the CVR Holders’ Representative in connection with the CVR Holders’ Representative’s services
pursuant to this Agreement, except in the event of liability directly resulting from the CVR Holders’ Representative’s
fraud, gross negligence or willful misconduct.

Section
4.4.Records. The Parent shall, and shall cause its Affiliates to, keep true, complete
and accurate records in sufficient detail to enable the Holders and their consultants or professional advisors to confirm (a)
whether any payments related to any Legacy Monetization giving rise to any CVR Payment Amounts have been received by Parent or
its successors or

    	 	11	 

    	 

    

Affiliates
and (b) the applicable CVR Payment Amount payable to each Holder hereunder in accordance with the terms specified in this Agreement.

ARTICLE
V

AMENDMENTS

Section
5.1.Amendments without Consent of Holders. Without the consent of any Holders or of
the CVR Holders’ Representative (except as to items described in (b), (d), (g) and (h) below, which shall require the prior
written consent of the CVR Holders’ Representative), the Parent, at any time and from time to time after the Effective Time,
may unilaterally execute and implement one or more amendments hereto:

(a)       to
evidence the succession of another Person to the Parent and the assumption by any such successor of the covenants of the Parent
herein, in a transaction contemplated by Section 6.1 hereof;

(b)       to
evidence the appointment of another Person as a successor Rights Agent and the assumption by any successor Rights Agent of the
covenants and obligations of the Rights Agent herein in accordance with the provisions hereof;

(c)       to
add to the covenants of the Parent such further covenants, restrictions, conditions or provisions as the Parent and the Rights
Agent consider to be for the protection and benefit of the Holders; provided that in each case, such provisions do not
adversely affect the interests of the Holders;

(d)       to
cure any ambiguity, to correct or supplement any provision in this Agreement that may be defective or inconsistent with any other
provision in this Agreement, or to make any other provisions with respect to matters or questions arising under this Agreement; provided that,
in each case, such provisions do not adversely affect the interests of the Holders;

(e)       as
may be necessary or appropriate to ensure that the CVRs are not subject to registration under the Securities Act or the Exchange
Act and the rules and regulations promulgated thereunder, or any applicable foreign or state securities or “blue sky”
laws; provided that, in each case, such amendment does not adversely affect the interests of the Holders;

(f)       as
may be necessary or appropriate to ensure that the Parent is not required to produce a prospectus or an admission document in
order to comply with applicable Law;

(g)       to
cancel the applicable CVRs (i) in the event that any Holder has abandoned its rights in accordance with this Agreement or
(ii) following a transfer of such CVRs to the Parent or its Affiliates in accordance with this Agreement;

(h)       to
effect any other amendment to this Agreement for the purpose of adding, eliminating or changing any provisions of this Agreement;
provided that, in each case, such amendment does not adversely affect the interests of the Holders; or

    	 	12	 

    	 

    

(i)       as
may be necessary or appropriate to ensure that the Parent complies with applicable Law.

Promptly
after the execution by the Parent of any amendment pursuant to the provisions of this Section 5.1, the Parent shall provide
a copy of such amendment to the CVR Holders’ Representative.

Section
5.2.Amendments with Consent of Holders. Subject to Section 5.1 (which amendments
pursuant to Section 5.1 may be made without the consent of the Holders or of the CVR Holders’ Representative), with
the consent of not less than a majority of the outstanding CVRs, whether evidenced in writing or taken at a meeting of the Holders,
the CVR Holders’ Representative, the Parent and the CVR Holders’ Representative may enter into one or more amendments
hereto for the purpose of adding, eliminating or changing any provisions of this Agreement, even if such addition, elimination
or change is in any way adverse to the interests of the Holders. The Parent and the Rights Agent agree to fully cooperate with
the CVR Holders’ Representative in soliciting and obtaining the consent of the Holders as required by this Section. Promptly
after the execution by the Parent, the CVR Representative and the Rights Agent of any amendment pursuant to the provisions of
this Section 5.2, the Parent will mail (or cause the Rights Agent to mail) a notice thereof by first class mail to the
Holders at their addresses as they appear on the CVR Register, setting forth in general terms the substance of such amendment.

Section
5.3.Effect of Amendments. Upon the execution of any amendment under this Article
V, this Agreement shall be modified in accordance therewith, such amendment shall form a part of this Agreement for all purposes
and every Holder shall be bound thereby.

ARTICLE
VI

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

Section
6.1.Parent May Consolidate, Etc. The Parent shall not consolidate with or merge into
any other Person (other than a merger or consolidation where the Parent is the surviving corporation), unless:

(a)       the
Person formed by such consolidation or into which the Parent is merged, (the “Surviving Person”) shall expressly
assume payment (if and to the extent required hereunder) of amounts on all the CVRs and the performance of every duty and covenant
of this Agreement on the part of the Parent to be performed or observed; and

(b)       the
Parent has delivered to the CVR Holders’ Representative and the Rights Agent an Officer’s Certificate, stating that
such consolidation or merger complies with this Article VI and that all conditions precedent herein provided for relating
to such transaction have been complied with.

Section
6.2.No Allocation to Parent Legacy Assets. No transaction described in Section 6.1
shall give, and the Merger shall not give, the Holders the right to a CVR Payment Amount.

    	 	13	 

    	 

    

Section
6.3.Successor Substituted. Upon any consolidation of or merger by the Parent with or
into any other Person, the Surviving Person shall succeed to, and be substituted for, and may exercise every right and power of,
the Parent under this Agreement with the same effect as if the Surviving Person had been named as Parent herein.

ARTICLE
VII

OTHER PROVISIONS OF GENERAL APPLICATION

Section
7.1.Notices. Any notice, report, request, approval or consent required or permitted
to be given under this Agreement shall be in writing and shall be addressed as follows:

(a)       if
to a Holder or any or all Holders or the CVR Holders’ Representative, addressed to the CVR Holders’ Representative
at: [●],

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

 

Ballard
Spahr LLP

80
S. 8th Street, Suite 2000

Minneapolis,
MN 55402

Attn.:Barbara Rummel

Peter
Jaslow

Telephone:(612)
371-3211

Facsimile:(612) 371-3207

Email:rummelb@ballardspahr.com

jaslowp@ballardspahr.com

 

(b)       if
to the Parent, addressed to it at:

Pineapple
Energy Corp.

315 Lake Street East

Wayzata, Minnesota 55391

Attn.: Chief Executive Officer

Telephone: (952) 456-5300

Email: Kyle@pineappleenergy.com

 

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

Faegre
Drinker Biddle & Reath LLP

2200
Wells Fargo Center

90
S. 7th Street

Minneapolis,
MN 55402-3901

Attn.:Steven Kennedy

Jonathan
Zimmerman

Jonathan
Nygren

Telephone:(612)
766-7000

Facsimile:(612) 766-1600

    	 	14	 

    	 

    

Email:Steven.Kennedy@FaegreDrinker.commailto:rummelb@ballardspahr.com

Jon.Zimmerman@FaegreDrinker.com

Jon.Nygren@FaegreDrinker.com

(c)       if
to the Rights Agent, addressed to it at: [●], email: [●], with a copy to [●], [●], email: [●];

or,
in each case, to the most recent address, specified by written notice, given to the sender pursuant to this Section.

All
notices and other communications hereunder shall be in writing and shall be deemed to have been duly delivered (i) three (3) Business
Days after being sent by registered or certified mail, return receipt requested, postage prepaid, (ii) one (1) Business Day after
being sent for next Business Day delivery, fees prepaid, via a reputable overnight courier service, (iii) if sent by email transmission
prior to 6:00 p.m. recipient’s local time, upon transmission (provided, no “bounce back” or similar message
of non-delivery is received with respect thereto) or (iv) if sent by email transmission after 6:00 p.m. recipient’s local
time and no “bounce back” or similar message of non-delivery is received with respect thereto, the Business Day following
the date of transmission; provided, that, in each case, the notice or other communication is sent to the physical address or email
address set forth next to the name of such Party above (or to such other physical address or email address as such Party shall
have specified in a written notice given to the other Parties hereto).

Section
7.2.Successors and Assigns. All covenants and agreements in this Agreement by the Parent
shall bind its successors and assigns, whether so expressed or not. The Parent may not assign this Agreement without the prior
written consent of the CVR Holders’ Representative. All covenants and agreements in this Agreement by the CVR Holders’
Representative shall bind his successors, whether so expressed or not. In the event the CVR Holders’ Representative resigns
(without assigning its rights or obligations to a successor CVR Holders’ Representative), dies or is incapacitated, a successor
CVR Holders’ Representative shall be elected by a majority in interest of the Holders.

Section
7.3.Benefits of Agreement. The Parent and the Rights Agent hereby agree that the respective
covenants and agreements set forth herein are intended to be for the benefit of, and shall be enforceable by, the CVR Holders’
Representative (on behalf of itself and the Holders) and the Holders, acting by the written consent of Holders of not less than
a majority of the then-outstanding CVRs, all of whom are intended third-party beneficiaries hereof. Nothing in this Agreement,
express or implied, will give to any Person (other than the Rights Agent, the Parent, the Parent’s successors and permitted
assignees, and the Holders and their respective successors and permitted assignees) any benefit or any legal or equitable right,
remedy or claim under this Agreement or under any covenant or provision herein contained, all such covenants and provisions being
for the sole benefit of the Rights Agent, the Parent, the Parent’s successors and permitted assignees, and the Holders and
their respective successors and permitted assignees. The rights of Holders are limited to those expressly provided in this Agreement
and the Merger Agreement.

    	 	15	 

    	 

    

Section
7.4.Governing Law. This Agreement and the CVRs shall be governed by and construed in
accordance with the internal laws of the State of Minnesota without giving effect to any choice or conflict of law provision or
rule (whether of the State of Minnesota or any other jurisdiction) that would cause the application of laws of any jurisdictions
other than those of the State of Minnesota. Each of the parties to this Agreement (i) consents to submit itself to the exclusive
personal jurisdiction of the state and federal courts located in Minneapolis, Minnesota (the “Chosen Court”)
in any action or proceeding arising out of or relating to this Agreement or the CVRs, (ii) agrees that all claims in respect of
such action or proceeding shall be heard and determined in any such Chosen Court, (iii) agrees that it shall not attempt to deny
or defeat such personal jurisdiction by motion or other request for leave from any such Chosen Court, and (iv) agrees not to bring
any action or proceeding arising out of or relating to this Agreement or any of the transaction contemplated by this Agreement
in any other court. Each of the parties hereto waives any defense of inconvenient forum to the maintenance of any action or proceeding
so brought and waives any bond, surety or other security that might be required of any other party with respect thereto. Any party
may make service on another party by sending or delivering a copy of the process to the party to be served at the address and
in the manner provided for the giving of notices in Section 7.1. Nothing in this Section 7.4, however,
shall affect the right of any party to serve legal process in any other manner permitted by law.

Section
7.5.Legal Holidays. In the event that a CVR Payment Date shall not be a Business Day,
then, notwithstanding any provision of this Agreement to the contrary, any payment required to be made in respect of the CVRs
on such date need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect
as if made on the CVR Payment Date.

Section
7.6.Severability Clause. In case any one or more of the provisions contained in this
Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Agreement, but this Agreement shall be construed as if such invalid
or illegal or unenforceable provision had never been contained herein. Upon such determination that any term or other provision
is invalid, illegal or unenforceable, the arbitration forum or other tribunal making such determination is authorized and instructed
to modify this Agreement so as to effect the original intent of the parties as closely as possible so that the transactions and
agreements contemplated herein are consummated as originally contemplated to the fullest extent possible.

Section
7.7.Entire Agreement. This Agreement represents the entire understanding of the parties
hereto with reference to the CVRs and the subject matter of this Agreement and supersedes any and all other prior or contemporaneous
oral or written agreements made with respect to the CVRs or this Agreement, except for the Merger Agreement. If and to the extent
that any provision of this Agreement is inconsistent with or conflicts with the Merger Agreement, this Agreement shall govern
and be controlling.

Section
7.8.Interpretation. The language used in this Agreement is the language chosen by the
parties to express their mutual intent, and no provision of this Agreement shall be interpreted for or against a party because
that party or its attorney drafted the provision.

    	 	16	 

    	 

    

Section
7.9.Force Majeure. Notwithstanding anything to the contrary contained herein, none of
the Rights Agent, the Parent or any of its Subsidiaries will be liable for any delays or failures in performance resulting from
acts beyond its reasonable control including acts of God, pandemics (including COVID-19), terrorist acts, shortage of
supply, breakdowns or malfunctions, interruptions or malfunctions of computer facilities, or loss of data due to power failures
or mechanical difficulties with information storage or retrieval systems, labor difficulties, war or civil unrest.

Section
7.10.WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH
PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATION OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND
(IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 7.10.

[Signature
Page Follows]

    	 	17	 

    	 

    

IN
WITNESS WHEREOF, the parties have executed and delivered this Contingent Value Rights Agreement as of the day and year first above
written.

	Communications
    Systems, Inc.
	 	 
	By:	 
	 	 
	Name:	 
	 	 
	Title:	 
	 	 
	 	 
	[●]	 
	 	 
	By:	 
	 	 
	Name:	 
	 	 
	Title:	 
	 	 
	 	 
	[●]	 
	 	 
	By:	 
	 	 
	Name:	 
	 	 
	Title:	 

 

     

    	 

    

Schedule
1

[●]

 

 

Schedule
2

Mark
D. Fandrich

Scott
Fluegge

Kristin
A. Hlavka

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