Document:

Exhibit 10.4

Amended and Restated

REGISTRATION RIGHTS AGREEMENT

THE REGISTRATION RIGHTS AGREEMENT, dated as of October 28, 2019, by and among GALAXY NEXT GENERATION, INC., a Nevada corporation (the “Company”), and YA II PN, LTD., a Cayman Islands exempt company (the “Investor”) (the “October Registration Rights Agreement”) is hereby amended and restated as of November 25, 2019 (this “Agreement” or the “Registration Rights Agreement”).

WHEREAS:

A. In connection with the Securities Purchase Agreement by and among the parties hereto dated October 28, 2019 and amended and restated as of November 12, 2019 (the “Securities Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement, to issue and sell to the Investor (i) a secured convertible debenture (the “Convertible Debenture”) which shall be convertible into shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock,” as converted, the “Conversion Shares”) in accordance with the terms of the Convertible Debenture and (ii) has issued to the Investor, 500,000 shares of the Company’s Common Stock (the “Commitment Fee Shares”).  Capitalized terms not defined herein shall have the meaning ascribed to them in the Securities Purchase Agreement.

B. To induce the Investor to execute and deliver the Securities Purchase Agreement, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the “Securities Act”), and applicable state securities laws and other rights as provided for herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

1. DEFINITIONS.

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

(a) “Effectiveness Deadline” means, with respect to a Registration Statement filed hereunder with the U.S. Securities and Exchange Commission (“SEC”), the 110th calendar day following the date hereof.

(b) “Filing Deadline” means, with respect to the initial Registration Statement filed with the SEC as required hereunder, the 45th calendar day following the date hereof.

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(c) “Person” means a corporation, a limited liability company, an association, a partnership, an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.

(d) “Prospectus” means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

(e) “Registrable Securities” means all of (i) the 10,000,000 Conversion Shares issuable upon conversion of the Convertible Debenture, (ii)  any additional shares issuable in connection with any anti-dilution provisions in the Convertible Debenture (without giving effect to any limitations on exercise set forth in the Convertible Debenture) and (iii) any shares of Common Stock issued or issuable with respect to the Conversion Shares, the Convertible Debenture, any shares of Common Stock issuable as a result of any stock split, dividend or other distribution, recapitalization or similar event or otherwise, without regard to any limitations on the conversion of the Convertible Debenture.

(f) “Registration Statement” means the registration statements required to be filed hereunder (including any additional registration statements contemplated by Section 3(c)), including (in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement.

(g) “Required Registration Amount” means (i) with respect to the initial Registration Statement at least 5,418,703 shares of Common Stock issued or to be issued upon conversion of the Convertible Debenture and (ii) with respect to subsequent Registration Statements at least such number of shares of Common Stock as shall equal up to 300% of the maximum number of shares of Common Stock issuable upon conversion of the Convertible Debenture then outstanding (assuming for purposes hereof that (x) such Convertible Debenture is convertible at the Conversion Price (as defined therein) in effect as of the date of determination, and (y) any such conversion shall not take into account any limitations on the conversion of the Convertible Debentures set forth in the Statement of Designations), in each case subject to any cutback set forth in Section 2(d).

(h)  “Rule 415” means Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC  having substantially the same purpose and effect as such Rule.

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2. REGISTRATION.

(a) The Company’s registration obligations set forth in this Section 2, including its obligation to file Registration Statements, obtain effectiveness of Registration Statements, and maintain the continuous effectiveness of Registration Statement that have been declared effective shall begin on the date hereof and continue until all the Registrable Securities have been sold or may permanently be sold without any restrictions pursuant to Rule 144, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holders (the “Registration Period”).  

(b) On or prior to the Filing Deadline, prepare and file with the SEC a Registration Statement on Form S-1 or SB-2 (or, if the Company is then eligible, on Form S-3) covering the resale by the Investor of all of the Registrable Securities.  Each Registration Statement prepared pursuant hereto shall register for resale at least the number of shares of Common Stock equal to the Required Registration Amount as of date the Registration Statement is initially filed with the SEC. Each Registration Statement shall contain the “Selling Stockholders” and “Plan of Distribution” sections in substantially the form attached hereto as Exhibit A and contain all the required disclosures set forth on Exhibit B.  The Company shall use its best efforts to have each Registration Statement declared effective by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline.  By 9:30 am on the business day following the date of effectiveness, the Company shall file with the SEC in accordance with Rule 424 under the 1933 Act the final Prospectus to be used in connection with sales pursuant to such Registration Statement.  Prior to the filing of the Registration Statement with the SEC, the Company shall furnish a draft of the Registration Statement to the Investor for their review and comment.  The Investor shall furnish comments on the Registration Statement to the Company within 24 hours of the receipt thereof from the Company.

(c) During the Registration Period, the Company shall (i) promptly prepare and file with the SEC such amendments (including post-effective amendments) and supplements to a Registration Statement and the Prospectus used in connection with a Registration Statement, which Prospectus is to be filed pursuant to Rule 424 promulgated under the Securities Act, as may be necessary to keep such Registration Statement effective at all times during the Registration Period, (ii) prepare and file with the SEC additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities; (iii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and as so supplemented or amended to be filed pursuant to Rule 424; (iv) respond as promptly as reasonably possible to any comments received from the SEC with respect to a Registration Statement or any amendment thereto and as promptly as reasonably possible provide the Investor  true and complete copies of all correspondence from and to the SEC relating to a Registration Statement (provided that the Company may excise any information contained therein which would constitute material non-public information as to any Investor which has not executed a confidentiality agreement with the Company); and (v) comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities of the Company covered by such Registration Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such Registration Statement.  In the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 2(c)) by reason of the Company’s filing a report on Form 10-KSB, Form 10-Q or Form 8-K or any analogous report under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company shall incorporate such report by reference into the Registration Statement, if applicable, or shall file such amendments or supplements with the SEC on the same day on which the Exchange Act report is filed which created the requirement for the Company to amend or supplement the Registration Statement. 

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(d) Reduction of Registrable Securities Included in a Registration Statement. Notwithstanding anything contained herein, in the event that the SEC requires the Company to reduce the number of Registrable Securities to be included in a Registration Statement in order to allow the Company to rely on Rule 415 with respect to a Registration Statement, then the Company shall be obligated to include in such Registration Statement (which may be a subsequent Registration Statement if the Company needs to withdraw a Registration Statement and refile a new Registration Statement in order to rely on Rule 415) only such limited portion of the Registrable Securities as the SEC shall permit.  Any Registrable Securities that are excluded in accordance with the foregoing terms are hereinafter referred to as “Cut Back Securities.”  To the extent Cut Back Securities exist, as soon as may be permitted by the SEC, the Company shall be required to file a Registration Statement covering the resale of the Cut Back Securities (subject also to the terms of this Section) and shall use best efforts to cause such Registration Statement to be declared effective as promptly as practicable thereafter.

(e) Failure to File or Obtain Effectiveness of the Registration Statement or Remain Current.     If: (i) a Registration Statement is not filed on or prior to its Filing Date or  (ii) a Registration Statement is not declared effective on or prior to the Effectiveness Deadline or (iii) the Company fails to file with the SEC a request for acceleration in accordance with Rule 461 promulgated under the Securities Act, within 5 Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that a Registration Statement will not be “reviewed,” or not subject to further review, or (iv) after the effectiveness, a Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities, except for Cut Back Securities for which it is required to be effective, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell such Registrable Securities for more than 30 consecutive calendar days or more than an aggregate of 40 calendar days during any 12-month period (which need not be consecutive calendar days), or (v) if after the 6 month anniversary of the date hereof, the Company does not have available adequate current public information as set forth in Rule 144(c) (any such failure or breach being referred to as an “Event”), then in addition to any other rights the holders of the Convertible Debentures may have hereunder or under applicable law, the Company shall be in breach of the terms and conditions of this Agreement and such event shall be deemed an event of default under the Convertible Debenture and on each such Event date and on each monthly anniversary of each such Event date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each holder of Convertible Debenture an amount in cash, as partial liquidated damages (“Liquidated Damages”) and not as a penalty, equal to 2.0% of the aggregate purchase price paid by such holder pursuant to the Securities Purchase Agreement for any Convertible Debentures then held by such holder.  The parties agree that the maximum aggregate Liquidated Damages payable to a holder of Convertible Debentures under this Agreement shall be 24% of the aggregate Purchase Price paid by such holder pursuant to the Securities Purchase Agreement.  The partial Liquidated Damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event.

(f) Liquidated Damages.  The Company and the Investor hereto acknowledge and agree that the sums payable under subsection 2(f) above shall constitute liquidated damages and not penalties and are in addition to all other rights of the Investor, including the right to call a default.  The parties further acknowledge that (i) the amount of loss or damages likely to be incurred is incapable or is difficult to precisely estimate, (ii) the amounts specified in such subsections bear a reasonable relationship to, and are not plainly or grossly disproportionate to, the probable loss likely to be incurred in connection with any failure by the Company to obtain or maintain the effectiveness of a Registration Statement, (iii) one of the reasons for the Company and the Investor reaching an agreement as to such amounts was the uncertainty and cost of litigation regarding the question of actual damages, and (iv) the Company and the Investor are sophisticated business parties and have been represented by sophisticated and able legal counsel and negotiated this Agreement at arm’s length. 

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3. RELATED OBLIGATIONS.

(a) The Company shall, not less than three 3 Trading Days prior to the filing of each Registration Statement and not less than 1 Trading Day prior to the filing of any related amendments and supplements to all Registration Statements (except for annual reports on Form 10-K or Form 10-KSB), furnish to each Investor electronic copies of all such documents proposed to be filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the reasonable and prompt review of such Investor, The Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto to which the Investors shall reasonably object in good faith; provided that, the Company is notified of such objection in writing no later than 2 Trading Days after the Investors have been so furnished copies of a Registration Statement.

(b) The Company shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, which obligation may be met by directing the Investor to www.sec.gov, (i) an electronic copy of such Registration Statement as declared effective by the SEC and any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference, all exhibits and each preliminary prospectus, (ii) an electronic copy of the final prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number of copies as such Investor may reasonably request) and (iii) such other documents as such Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor.

(c) The Company shall use its best efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under such other securities or “blue sky” laws of such jurisdictions in the United States as any Investor reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (w) make any change to its articles of incorporation or by-laws, (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(c), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.  The Company shall promptly notify each Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

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(d) As promptly as practicable after becoming aware of such event or development, the Company shall notify each Investor in writing of the happening of any event as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain any material, nonpublic information), and promptly prepare a supplement or amendment to such Registration Statement to correct such untrue statement or omission, and deliver an electronic copy of such supplement or amendment to each Investor, which delivery obligation may be fulfilled by directing the Investor to www.sec.gov.  The Company shall also promptly notify each Investor in writing (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to each Investor by facsimile on the same day of such effectiveness), (ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus or related information, and (iii) of the Company’s reasonable determination that a post-effective amendment to a Registration Statement would be appropriate.

(e) The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction within the United States of America and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify each Investor who holds Registrable Securities being sold of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

(f) If, after the execution of this Agreement, a Investor believes, after consultation with its legal counsel, that it could reasonably be deemed to be an underwriter of Registrable Securities, at the request of any Investor, the Company shall furnish to such Investor, on the date of the effectiveness of the Registration Statement and thereafter from time to time on such dates as a Investor may reasonably request (i) a letter, dated such date, from the Company’s independent certified public accountants in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, and (ii) an opinion, dated as of such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance as is customarily given in an underwritten public offering, addressed to the Investors.

(g) If, after the execution of this Agreement, a Investor believes, after consultation with its legal counsel, that it could reasonably be deemed to be an underwriter of Registrable Securities, at the request of any Investor, the Company shall make available for inspection by (i) any Investor and (ii) one (1) firm of accountants or other agents retained by the Investors (collectively, the “Inspectors”) all pertinent financial and other records, and pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector, and cause the Company’s officers, directors and employees to supply all information which any Inspector may reasonably request; provided, however, that each Inspector shall agree, and each Investor hereby agrees, to hold in strict confidence and shall not make any disclosure (except to a Investor) or use  any Record or other information which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (a) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required under the Securities Act, (b) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent jurisdiction, or (c) the information in such Records has been made generally available to the public other than by disclosure in violation of this or any other agreement of which the Inspector and the Investor has knowledge.  Each Investor agrees that it shall, upon learning that disclosure of such Records is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed confidential.

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(h) The Company shall hold in confidence and not make any disclosure of information concerning a Investor provided to the Company unless (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement.  The Company agrees that it shall, upon learning that disclosure of such information concerning a Investor is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt written notice to such Investor and allow such Investor, at the Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

(i) The Company shall use its best efforts either to cause all the Registrable Securities covered by a Registration Statement (i) to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or (ii) the inclusion for quotation on the OTC Bulletin Board for such Registrable Securities.  The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section 3(i).

(j) The Company shall cooperate with each Investor who holds Registrable Securities being offered and, to the extent applicable, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the case may be, as the Investors may reasonably request and registered in such names as the Investors may request.

(k) The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any registration hereunder.

(l) Within 2 business days after a Registration Statement which covers Registrable Securities is declared effective by the SEC, the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to the Investor whose Registrable Securities are included in such Registration Statement) confirmation in such form customary for such notices of effectiveness, that such Registration Statement has been declared effective by the SEC.

(m) The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities pursuant to a Registration Statement.

4. OBLIGATIONS OF THE INVESTORS.

(a) The Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(d) such Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering such Registrable Securities until such Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(d) or receipt of notice that no supplement or amendment is required.  Notwithstanding anything to the contrary, the Company shall cause its transfer agent to deliver unlegended certificates for shares of Common Stock to a transferee of a Investor in accordance with the terms of the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which a Investor has entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section 3(d) and for which the Investor has not yet settled.

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(b) The Investor covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it or an exemption therefrom in connection with sales of Registrable Securities pursuant to the Registration Statement.

5. EXPENSES OF REGISTRATION.

All expenses incurred in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers, legal and accounting fees shall be paid by the Company. 

6. INDEMNIFICATION.

With respect to Registrable Securities which are included in a Registration Statement under this Agreement:

(a) To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, the directors, officers, partners, employees, agents, representatives of, and each Person, if any, who controls any Investor within the meaning of the Securities Act or the Exchange Act (each, an “Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses, joint or several (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”), or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation there under relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement (the matters in the foregoing clauses (i) through (iii) being, collectively, “Violations”).  The Company shall reimburse the Investor and each such controlling person promptly as such expenses are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.  Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (x) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person expressly for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (y) shall not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c); and (z) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the Investors pursuant to Section 9 hereof.

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(b) In connection with a Registration Statement, the Investor agrees to severally and not jointly indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers, employees, representatives, or agents and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act (each an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or is based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written information furnished to the Company by such Investor expressly for use in connection with such Registration Statement; and, subject to Section 6(d), such Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of such Investor, which consent shall not be unreasonably withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to such Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement.  Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investors pursuant to Section 9.  Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(b) with respect to any prospectus shall not inure to the benefit of any Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected and such new prospectus was delivered to each Investor prior to such Investor’s use of the prospectus to which the Claim relates.

(c) Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses of not more than one (1) counsel for such Indemnified Person or Indemnified Party to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing  interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding.  The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim.  The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.  No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent; provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent.  No indemnifying party shall, without the prior written consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability in respect to such claim or litigation.  Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made.  The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend such action.

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(d) The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or Indemnified Damages are incurred.

(e) The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

7. CONTRIBUTION.

To the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that:  (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller from the sale of such Registrable Securities.

8. REPORTS UNDER THE EXCHANGE ACT.

With a view to making available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any similar rule or regulation of the SEC that may at any time permit the Investors to sell securities of the Company to the public without registration (“Rule 144”), and as a material inducement to the Investor’s purchase of the Convertible Debentures, the Company represents, warrants, and covenants to the following: 

(a) The Company is subject to the reporting requirements of section 13 or 15(d) of the Exchange Act and has filed all required reports under section 13 or 15(d) of the Exchange Act during the 12 months prior to the date hereof (or for such shorter period that the issuer was required to file such reports), other than Form 8-K reports.

(b) During the Registration Period, the Company shall file with the SEC in a timely manner all required reports under section 13 or 15(d) of the Exchange Act (it being understood that nothing herein shall limit the Company’s obligations under the Securities Purchase Agreement) and such reports shall conform to the requirement of the Exchange Act and the SEC for filing thereunder. 

(c) The Company shall furnish to the Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration.

-10-

 

9. AMENDMENT OF REGISTRATION RIGHTS.

Provisions of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Investor who then hold at least two-thirds (2/3) of the Registrable Securities.  Any amendment or waiver effected in accordance with this Section 9 shall be binding upon each Investor and the Company.  No such amendment shall be effective to the extent that it applies to fewer than all of the holders of the Registrable Securities.  No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of this Agreement unless the same consideration also is offered to all of the parties to this Agreement.

10. MISCELLANEOUS.

(a) A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities or owns the right to receive the Registrable Securities.  If the Company receives conflicting instructions, notices or elections from two (2) or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such Registrable Securities.

(b) No Piggyback on Registrations.  The Company shall not file any other registration statements on Form S-3, Form S-1 or otherwise until the initial Registration Statement required hereunder is declared effective by the SEC, provided that this Section 10(b) shall not prohibit the Company from filing amendments to registration statements already filed.  The Company shall not include other securities, or shares of Common Stock issued or deemed to have been issued by the Company directly or to be issued upon conversion or exercise of such securities, in an aggregate amount greater than 500,000 shares of  the Company’s Common Stock on a Registration Statement unless otherwise agreed to by the Investor.

(c) Piggy-Back Registrations.  If at any time there is not an effective Registration Statement covering all of the Registrable Securities and the Company shall determine to prepare and file with the SEC a registration statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with the stock option or other employee benefit plans, then the Company shall send to the Investor a written notice of such determination and, if within fifteen (15) days after the date of such notice, any such Investor shall so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities such Investor requests to be registered; provided, however, that, the Company shall not be required to register any Registrable Securities pursuant to this Section 10(c) that are eligible for resale pursuant to Rule 144(k) promulgated under the Securities Act or that are the subject of a then effective Registration Statement.

-11-

 

(d) Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered upon:  (i) receipt, when delivered personally, (ii) 1 Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed to the party to receive the same, or  (iii) receipt, when sent by electronic mail (provided that the electronic mail transmission is not returned in error or the sender is not otherwise notified of any error in transmission. The addresses and e­mail addresses for such communications shall be:

		
	If to the Company, to:

	Galaxy Next Generation, Inc.

	 	286 Big A Road

	 	Toccoa, GA30577

	 	Attention:    Magen McGahee

Telephone:  (706)491-6893

	 	Email: magen@galaxynect.com

	 

    With Copy to:
	 

      Jones & Haley, P.C.

      750 Hammond Drive

Building 12-100

Atlanta, GA 30328

	 	Attention:  Richard W. Jones

	 	Telephone: (770) 804-0500

	 	Email: jones@corplaw.net

	 	 
	If to the Investor:

	YA II PN, Ltd. 

c/o Yorkville Advisors Global, LP

	 	1012 Springfield Avenue

	 	Mountainside, NJ 07092

	 	Attention:Mark Angelo 

    Telephone: (732) 213-1864

	 	Email: mangelo@yorkvilleadvisors.com

    

	With a copy to:

	David Gonzalez, Esq. 

	 	1012 Springfield Avenue

	 	Mountainside, NJ 07092

	 	Telephone:(201) 536-5109

	 	Email: dgonzalez@yorkvilleadvisors.com

-12-

 

(e)Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

(f) The laws of the State of New Jersey shall govern all issues concerning the relative rights of the Company and the Investor as its stockholders.  All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New Jersey, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New Jersey or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New Jersey.  Each party hereby irrevocably submits to the non-exclusive jurisdiction of the Superior Courts of the State of New Jersey, sitting in Union County, New Jersey and federal courts for the District of New Jersey sitting Newark, New Jersey, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.  Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.  If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

(g) This Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties hereto.

(h) The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

(i) This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement.  This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

(j) Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

-13-

 

(k) The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict construction will be applied against any party.

(l) This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

 

 

 

 

 

 

-14-

 

IN WITNESS WHEREOF, the Investor and the Company have caused their signature page to this Registration Rights Agreement to be duly executed as of the date first above written.

		
	 	COMPANY:

	 	GALAXY NEXT GENERATION, INC.

	 	 
	 	By: /s/ Gary Lecroy 

	 	Name: Gary Lecroy

	 	Title:President

	 	 

  

IN WITNESS WHEREOF, the Investor and the Company have caused their signature page to this Registration Rights Agreement to be duly executed as of the date first above written.

		
	 	INVESTOR:

	 	YA II PN, LTD.

	 	By: Yorkville Advisors Global, LP 

	 	Its:  Investment Manager 

	 	 
	 	By: Yorkville Advisors Global II, LLC

	 	Its:  General Partner

 

By: /s/ Daivd Gonzalez

Name: David Gonzalez 

Title: Member

-15-

 

EXHIBIT A

SELLING STOCKHOLDERS 

AND PLAN OF DISTRIBUTION

Selling Stockholders

 

The shares of Common Stock being offered by the selling stockholders are issuable upon conversion of the convertible debenture.  For additional information regarding the issuance of the convertible debenture, see “Private Placement of Convertible Debentures above.  We are registering the shares of Common Stock in order to permit the selling stockholders to offer the shares for resale from time to time.  Except as otherwise noted and except for the ownership of the convertible debenture issued pursuant to the Securities Purchase Agreement, the selling stockholders have not had any material relationship with us within the past three years.

The table below lists the selling stockholders and other information regarding the beneficial ownership of the shares of Common Stock by each of the selling stockholders.  The second column lists the number of shares of Common Stock beneficially owned by each selling stockholder, based on its ownership of the convertible debentures, as of ________, 200_, assuming conversion of all the convertible debenture held by the selling stockholders on that date, without regard to any limitations on conversions or exercise.

The third column lists the shares of Common Stock being offered by this prospectus by the selling stockholders.

In accordance with the terms of a registration rights agreement with the selling stockholders, this prospectus generally covers the resale of at least ___________ shares of common stock issued or issuable to the selling stockholders pursuant to the Securities Purchase Agreement.  Because the conversion price of the convertible debenture may be adjusted, the number of shares that will actually be issued may be more or less than the number of shares being offered by this prospectus.  The fourth column assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus.

-16-

 

Under the terms of the convertible debenture, a selling stockholder may not convert the convertible debenture to the extent such conversion or exercise would cause such selling stockholder, together with its affiliates, to beneficially own a number of shares of Common Stock which would exceed 4.99% of our then outstanding shares of Common Stock following such conversion or exercise, excluding for purposes of such determination shares of Common Stock issuable upon conversion of the convertible debentures which have not been converted.  The number of shares in the second column does not reflect this limitation.  The selling stockholders may sell all, some or none of their shares in this offering.  See "Plan of Distribution."

  				
	

    

    Name of Selling Stockholder

    	

    Number of Shares Owned Prior to Offering

    	Maximum Number of Shares to be Sold Pursuant to this Prospectus

    	

    Number of Shares Owned After Offering

    
	YAII PN, Ltd. (1)

    	

    	 	 

(1) YAII PN, Ltd. is a Cayman Island exempt company.  YAII PN, Ltd.  is managed by Yorkville Advisors Global, LP.  Investment decisions for Yorkville Advisors Global, LP are made by Matthew Beckman, its portfolio manager.  

Plan of Distribution

Each Selling Stockholder (the “Selling Stockholders”) of the common stock and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their shares of common stock on the __________ or any other stock exchange, market or trading facility on which the shares are traded or in private transactions.  These sales may be at fixed or negotiated prices.  A Selling Stockholder may use any one or more of the following methods when selling shares:

· ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

· block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;

· purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

· an exchange distribution in accordance with the rules of the applicable exchange;

-17-

 

· privately negotiated transactions;

· broker-dealers may agree with the Selling Stockholders to sell a specified number of such shares at a stipulated price per share;

· through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; 

· a combination of any such methods of sale; or

· any other method permitted pursuant to applicable law.

The Selling Stockholders may also sell shares under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”), if available, rather than under this prospectus.

Broker-dealers engaged by the Selling Stockholders may arrange for other brokers-dealers to participate in sales.  Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with NASDR Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with NASDR IM-2440.  

In connection with the sale of the common stock or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Common Stock in the course of hedging the positions they assume.  The Selling Stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

-18-

 

The Selling Stockholders and any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales.  In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act.  Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the Common Stock. In no event shall any broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent (8%).

The Company is required to pay certain fees and expenses incurred by the Company incident to the registration of the shares.  The Company has agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.  

Because Selling Stockholders may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to the prospectus delivery requirements of the Securities Act including Rule 172 thereunder.  In addition, any securities covered by this prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus.  There is no underwriter or coordinating broker acting in connection with the proposed sale of the resale shares by the Selling Stockholders.

We agreed to keep this prospectus effective until the earlier of (i) the date on which the shares may be resold by the Selling Stockholders without registration and without regard to any volume limitations by reason of Rule 144(k) under the Securities Act or any other rule of similar effect or (ii) all of the shares have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect.  The resale shares will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the resale shares may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

Under applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale shares may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution.  In addition, the Selling Stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of shares of the common stock by the Selling Stockholders or any other person.  We will make copies of this prospectus available to the Selling Stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

-19-

 

EXHIBIT B

OTHER DISCLOSURES

See attachment provided separately.  

 

 

 

 

 

 

 

 

 

-20-EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into November 29, 2019, effective as of December
1, 2019 (the “Effective Date”), by and between INVESTVIEW INC., a Nevada corporation (the “Employer”),
and JOSEPH CAMMARATA (“Executive”).

 

FOR
AND IN CONSIDERATION of the mutual covenants herein contained, the parties agree as follows:

 

ARTICLE
I

ASSOCIATION
AND RELATIONSHIP

 

1.1 Nature
of Employment. The Employer hereby employs Executive, and Executive hereby accepts employment from the Employer, upon the
terms and conditions set forth herein.

 

1.2 Services.
Executive will devote his time, attention, and services to the business and affairs of the Employer.

 

1.3 Duties.
During the term of this Agreement, Executive will be employed by the Employer and will serve as the chief executive officer of
Employer.

 

ARTICLE
II

COMPENSATION
AND BENEFITS

 

2.1 Compensation.
For all services rendered by Executive pursuant to this Agreement, the Employer will compensate Executive as follows:

 

(a) Salary.
Executive will be paid, in accordance with the normal payroll practice of the Employer, annual compensation in the amount of
$1 for all hours worked, exempt from overtime pay.

 

(b) Salary
Escalation. The board of directors or the designated compensation committee will conduct an annual review to determine whether
an increase in salary is appropriate based on the Employer’s or its subsidiaries’ results of operations, increased
activities or responsibilities of Executive, or such other factors as the board of directors or the designated compensation committee
thereof may deem appropriate.

 

(c) Equity
Compensation. Executive or its Assignee, will receive 20,000,000 vested shares of the Employer’s common stock upon dual
execution of this Agreement. In addition, Executive will receive 250,000,000 shares of the Employer’s common stock that
will be subject to forfeiture. The forfeiture provisions will expire upon achievement of certain Earnings (as defined below) milestones
in the APEX/SAFETek program as follows:

 

	APEX/SAFETek
    Earnings Milestones	 	Forfeiture
    Extinguished
	$2,500,000	 	62,500,000
	$10,000,000	 	62,500,000
	$15,000,000	 	62,500,000
	$20,000,000	 	62,500,000
	Total
    Award	 	250,000,000

 

    	 	 	 

    	 

    

 

However,
if Executive is successful in introducing the Employer to a funding opportunity that results in the Employer receiving funding
of at least $5.0 million before the first APEX/SAFETek Earnings milestone is met, then that initial milestone will be deemed met,
and the remaining forfeiture provisions will expire as follows:

 

	APEX/SAFETek
    Earnings Milestones	 	Forfeiture
    Extinguished
	Funding
    of >$5.0 million	 	62,500,000
	$2,500,000	 	62,500,000
	$10,000,000	 	62,500,000
	$15,000,000	 	62,500,000
	Total
    Award	 	250,000,000

 

For
the purpose of subsections 2.1(c) and 2.1(d), “Earnings” is defined as the gross revenue generated, minus lease
payments, commissions, hosting costs, and the reinvestment amount. It is also understood by all Parties that the additional 250
million shares will be issued immediately, to be held by Investview and the certificates of shares delivered to Executive, or
its Assignee, when each forfeiture provision from above is extinguished.

 

(d) Additional
Compensation. Executive (or his designee) will receive additional compensation related to the success of the Employer’s
APEX/SAFETek program as follows: (i) $250 per sale of APEX Packs when the sale is the direct result of Executive or an entity
hired by Executive; (ii) $125 per sale of APEX Packs when the sale is not the direct result of Executive or an entity hired by
Executive (if the sales price of an APEX Pack is increased from $13,750 to $15,000, this amount will increase from $125 per sale
to $150 per sale); and (iii) 25% of Employer’s Earnings generated from APEX/SAFETek operations. For the purpose of this
Agreement, an “APEX Pack” is defined as a Crypto or Artificial Intelligence Mining Card.

 

(e) Incentive
Compensation. The Employer may provide Executive with additional incentive compensation in the form of cash bonuses, stock
options, or other awards, as will be determined in the sole discretion of the board of directors or the designated compensation
committee thereof, taking into consideration the growth and profitability of the Employer or its subsidiaries, the relative contribution
by Executive to the business of the Employer, the economy in general, and such other factors as the board of directors or designated
compensation committee deems relevant.

 

(f) Other
Benefits. The Employer will additionally provide to Executive incentive, retirement, pension, profit sharing, stock option,
health, medical, or other employee benefit plans that are consistent with and similar to such plans provided by the Employer to
its employees generally.

 

    	 	2	 

    	 

    

 

2.2 Continuation
of Compensation During Disability. If Executive is unable to perform his services by reason of disability due to illness or
incapacity for a period of more than six consecutive months, the compensation thereafter payable to him during the next succeeding
consecutive three months will be one-half of the compensation provided for in subsections 2.1(a) and (b),
and during the following consecutive three months will be one-fourth of the salary provided for in subsections 2.1(a) and
(b); provided, however, that no such compensation will be payable after the
termination of this Agreement. During the initial six consecutive months of disability, Executive will be entitled to receive
incentive compensation at the same annual rate as incentive compensation, if any, earned with respect to the Employer’s
fiscal year last preceding the date his illness or incapacity commenced. Notwithstanding the foregoing, if his illness or incapacity
does not cease to exist within the 12 consecutive months provided herein, Executive will not be entitled to receive any further
compensation from the Employer, and the Employer may thereupon terminate this Agreement. For purposes of this Agreement, Executive
is “incapacitated” when he is unable to continue his normal duties of employment by reason of a medically determined
physical or mental impairment. In determining whether or not Executive is incapacitated, the Employer may rely upon the opinion
of any doctor or practitioner of any recognized field of medicine or psychiatric practice selected jointly by the Employer and
Executive and such other evidence as the Employer deems reasonably necessary. Executive’s Compensation is unaffected and
will be paid in full during any length or term of incapacity.

 

2.3 Vacations
and Meetings. Executive will be entitled each year to reasonable vacation weeks and to attend appropriate meetings and conventions
related to the Employer’s business of a duration and at such time as may be mutually agreed between the parties. Vacations
will be taken by Executive at a time and with starting and ending dates mutually convenient to the Employer and Executive.

 

2.4 Personal
Leave. Executive will be entitled each year to paid leave of some amount of mutually agreed days to accommodate those times
when Executive is ill and unable to perform his duties.

 

ARTICLE
III

COVENANT
TO NOT DISCLOSE CONFIDENTIAL INFORMATION

 

3.1 Definition
of Confidential Information. For purposes of this Agreement, the term “Confidential Information” will mean
information in written, graphic, or electronic form under the care or custody of Executive as a direct or indirect consequence
of or through his employment with the Employer and the special proprietary information regarding the business, methods, and operation
of the Employer that is designated by the Employer as “limited,” “private,” or “confidential”
or similarly designated or for which there is any reasonable basis to believe is, or which appears to be, treated by the Employer
as private, restricted, or secret, but does not include information generally available to the public or to businesses in the
financial education, research, and services industry.

 

3.2 Protection
of Confidential Information and Goodwill. Executive acknowledges that in the course of carrying out, performing, and fulfilling
his responsibilities to the Employer, he will be given access to and be entrusted with Confidential Information relating to the
Employer’s business. Executive recognizes that: (a) the goodwill of the Employer depends upon, among other things, keeping
the Confidential Information confidential and that unauthorized disclosure of the Confidential Information would irreparably damage
the Employer; and (b) disclosure of any Confidential Information to competitors of the Employer or to the general public would
be highly detrimental to the Employer. Executive further acknowledges that in the course of performing his obligations to the
Employer, he will be a representative of the Employer to many other persons and, in some instances, the Employer’s primary
contact with these persons, and as such will be responsible for maintaining or enhancing the business and goodwill of the Employer
with them.

 

3.3 Covenants
Regarding Confidential Information. In further consideration of the employment
of Executive by the Employer and in consideration of the compensation to be paid to Executive during his employment, he hereby
agrees as follows:

 

(a) Nondisclosure
of Confidential Information. Executive will not, during his employment with the Employer or at any time after termination
of his employment, irrespective of the time, manner, or cause of termination, use, disclose, copy, or assist any other person
or firm in the use, disclosure, or copying, of any Confidential Information.

 

    	 	3	 

    	 

    

 

(b) Return
of Confidential Information. All files, records, documents, drawings, equipment,
and similar items, whether in written or electronic form, relating to the business of the Employer, whether prepared by Executive
or otherwise coming into his possession, will remain the exclusive property of the Employer and will not be removed from the premises
of the Employer, except when necessary in carrying out the business of the Employer,
without the prior written consent of the Employer. Upon termination of Executive’s employment, Executive agrees to deliver
to the Employer all Confidential Information and all copies thereof along with any
and all other property belonging to the Employer whatsoever.

 

ARTICLE
IV

ENFORCEMENT
OF COVENANTS

 

4.1 Relief.
Executive agrees that a breach or threatened breach by him of any covenant contained in this Agreement will cause such damage
to the Employer as will be irreparable, and for that reason, Executive further agrees that the Employer will be entitled as a
matter of right to an injunction from any court of competent jurisdiction restraining any further violation of such covenants
by Executive and his employers, employees, partners, and agents. The right to injunction will be cumulative and in addition to
whatever other equitable or legal remedies the Employer may have, including, specifically, recovery of damages.

 

4.2 Survival
of Covenants. The covenants contained in Article III above and the remedies provided under this Article IV will survive for
a period of one year after any termination of Executive’s employment.

 

ARTICLE
V

TERM
AND TERMINATION

 

5.1 Term.
Except as provided herein, the term of this Agreement will be for a period of five years commencing on the Effective Date and
will automatically renew for five-year periods unless notice of termination is provided at least 90 days preceding expiration
of the applicable term. Notwithstanding the foregoing, this Agreement may otherwise be terminated pursuant to the terms hereof.

 

5.2 Termination.
Executive’s employment hereunder may be terminated without any breach of this Agreement only under the following circumstances:

 

(a) Termination
for Cause. The Employer will have the right to terminate this Agreement for cause (“Cause”) by showing
that: (i) Executive has materially breached the terms hereof; (ii) Executive, in the determination of the board of directors,
has been grossly negligent in the performance of his duties; (iii) Executive has engaged in material willful or gross misconduct
in the performance of his duties hereunder; or (iv) there has been entered a final non-appealable conviction of or a plea of guilty
or nolo contendere by Executive to a felony or misdemeanor involving fraud, embezzlement, theft, or dishonesty or other
criminal conduct against the Employer. Notwithstanding the foregoing, this Agreement will not be deemed to have been terminated
for Cause, without: (x) reasonable notice to Executive setting forth the reasons for the Employer’s intention to terminate
for Cause; (xi) an opportunity for Executive, together with his counsel, to be heard before the full board of directors of the
Employer; and (xii) delivery to Executive of written notice of termination setting forth the finding that in the good faith opinion
of the board of directors, Executive was guilty of an act or acts constituting Cause under this provision and specifying the particulars
thereof in detail.

 

    	 	4	 

    	 

    

 

(b) Termination
upon Death or Incapacity of Executive. This Agreement will terminate immediately upon Executive’s death or upon Executive’s
incapacity for longer than one year as set forth in section 2.2.

 

(c) Termination
upon Change of Control. Notwithstanding any provision of this Agreement to the contrary, Executive may terminate this Agreement,
but not the covenants set forth in Article III, at any time within 60 days after the happening of any of the following events:

 

(i) the
sale by the Employer of substantially all of its assets to a single purchaser or to a group of associated purchasers;

 

(ii) the
sale, exchange, or other disposition to a single person or group of persons under common control in one transaction or series
of related transactions resulting in such person or persons owning, directly or indirectly, greater than 25% of the combined voting
power of the outstanding shares of the Employer’s common stock;

 

(iii) more
than 50% of the members of the board of directors of the Employer are persons who are neither nominated for election by
the board or an authorized committee of the board nor appointed by the board;

 

(iv) the
decision by the Employer to terminate its business and liquidate its assets; or

 

(v) the
merger or consolidation of the Employer in a transaction in which the shareholders of the Employer immediately prior to such merger
or consolidation receive less than 50% of the outstanding voting shares of the new or
continuing corporation.

 

In
the event that the Employer is not the surviving entity, then the provisions of this Agreement will inure to the benefit of and
be binding upon the surviving or resulting entity. If as a result of the merger, consolidation, transfer of assets, or other event
listed above, the duties of Executive are increased, then the compensation of Executive provided for in section 2.1 will be reasonably
increased to compensate for the additional duties and responsibilities assigned to him.

 

(d) Termination
by Executive for Cause. Executive will have the right to terminate this Agreement in the event of: (i) the Employer’s
intentional breach of any covenant or term of this Agreement, but only if the Employer fails to cure such breach within 20 days
following the receipt of notice from Executive setting forth the conditions giving rise to such breach; (ii) an assignment to
Executive of any duties inconsistent with, or a significant change in the nature or scope of, Executive’s authorities or
duties from those authorities and duties held by him as of the date hereof and as increased from time to time in accordance with
the terms of section 1.3; or (iii) the failure by the Employer to obtain the assumption of the commitment to perform this Agreement
by any successor corporation.

 

5.3 Termination
Payments.

 

(a) Termination
Other than for Cause. In the event that Executive’s employment is terminated or modified by the Employer without Executive’s
express written consent during the term hereof for reasons other than Cause as defined in subsection 5.2(a) or Executive terminates
this Agreement in accordance with subsection 5.2(c) or subsection 5.2(d), the Employer will:

 

(i) pay
to Executive all amounts accrued through the date of termination, any accrued but unused vacation days calculated at Executive’s
salary rate in effect on the termination date, and any other benefits specifically provided to Executive under any benefit plan;

 

    	 	5	 

    	 

    

 

(ii) waive
and automatically terminate all forfeiture restrictions governing stock or options held by Executive, which thereupon will be
fully vested and held free from forfeiture by Executive;

 

(iii) grant
Executive an additional 250,000,000 shares of Employer’s common stock; and

 

(iv) maintain
in full force and effect, for the continued benefit of Executive for the number of years (including partial years) remaining in
the term of employment hereunder, coverage under the Employer’s group health insurance plan; provided that Executive’s
continued participation is possible under the general terms and provisions of such plan. In the event that the participation of
Executive and his family in the Employer’s group health plan is barred, the Employer will reimburse Executive the same percentage
of the cost that would have been covered by the Employer under its then-existing plan for Executive’s cost of obtaining
coverage with benefits substantially similar to those to which he would otherwise have been entitled to receive.

 

Notwithstanding
the foregoing, in the event that the aggregate amount of payments made to Executive under this Agreement on account of any termination
occurring as a result of a change in control of the Employer would exceed the amount permitted as a deduction to the Employer
under the provisions of Section 280G of the Internal Revenue Code of 1986, as amended, and any Treasury Regulations thereunder,
and the imposition of an excise tax payable by Executive as provided under Section 4999 of the Internal Revenue Code of 1986,
as amended, and any Treasury Regulations thereunder, such payments will be reduced by the amount required to avoid the loss of
deduction and imposition of excise tax. No payments will be made to Executive prior to determining whether this reduction is required,
which determination will be made and all amounts due paid by Employer within a reasonable time, not to exceed 10 days, after termination.

 

(b) Termination
upon Death of Executive. If Executive dies during the term of this Agreement,
this Agreement will terminate and the Employer will pay to the estate of Executive the following:

 

(i) within
10 days after the date of termination, all amounts accrued through the date of termination,
an amount for any accrued but unused vacation days calculated at Executive’s salary in effect on the termination date, and
any other benefits specifically provided to Executive under any benefit plan; and

 

(ii) in
six equal monthly installments commencing on the first day of the month immediately following the month in which Executive dies,
an amount equal to one year’s salary provided for in subsection 2.1(a) and (b).

 

    	 	6	 

    	 

    

 

(c) Termination
by the Employer for Cause. If the Employer terminates this Agreement for Cause, the Employer will deliver to Executive, within
30 days following the effective date of such termination, all amounts accrued through the date of termination, one year of salary
at the then-current rate (which may be paid in a lump sum or over the course of one calendar year, at the Employer’s election
and any other benefits specifically provided to Executive under any benefit plan.

 

(d) Termination
by Executive Without Cause. If Executive terminates this Agreement for any reason other than in accordance with the provisions
of subsection 5.2(d), the Employer will deliver to Executive, within 30 days following
the effective date of such termination, all amounts accrued through the date of termination and any other benefits specifically
provided to Executive under any benefit plan.

 

ARTICLE
VI

MISCELLANEOUS

 

6.1 Exit
Interview. To ensure a clear understanding of this Agreement, including the protection of the Employer’s business interests,
Executive agrees, at no additional expense to him, to engage in an exit interview with the Employer at a time and place designated
by the Employer.

 

6.2 Severability.
If any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal, or unenforceable
in any respect, such invalidity, illegality, or unenforceability will not affect the validity and enforceability of any other
provisions hereof. Further, should any provisions within this Agreement ever be reformed or rewritten by a judicial body, those
provisions as rewritten will be binding upon the Employer and Executive.

 

6.3 Right
of Setoff. The Employer and Executive will each be entitled, at its and his option and not in lieu of any other remedies to
which it or he may be entitled, to set off any amounts due from the other or any
affiliate of the other against any amount due and payable by such person or any affiliate
of such person pursuant to this Agreement or otherwise.

 

6.4 Representations
and Warranties of Executive. Executive represents and warrants to the Employer that: (a) Executive understands and voluntarily
agrees to the provisions of this Agreement; (b) Executive is not aware of any existing medical condition that might cause him
to be or become unable to fulfill his duties under this Agreement; (c) Executive has had the opportunity to consult legal counsel
of his own selection about this Agreement; and (d) Executive is free to enter into this Agreement and has no commitment, arrangement,
or understanding to or with any third party that restrains or is in conflict with this Agreement or that would operate to prevent
Executive from performing the services to the Employer that he has agreed to provide hereunder.

 

6.5 Succession.
This Agreement and the rights and obligations hereunder will be binding upon and inure to the benefit of the parties hereto and
their respective legal representatives, and will also bind and inure to the benefit of any successor of the Employer by merger
or consolidation or any assignee of all or substantially all of its property.

 

6.6 Assignment.
Except to any successor or assignee of the Employer as provided in section 6.5, neither this Agreement nor any rights or benefits
hereunder may be assigned by either party hereto without the prior written consent of the other party. Neither Executive nor his
spouse or designated contingent beneficiary, nor their estates, will have any right
to anticipate, encumber, or dispose of any payment due under this Agreement. Such payments and other rights are expressly declared
nonassignable and nontransferable, except for any shares of the Employer that are no longer subject to forfeiture or as specifically
provided herein.

 

    	 	7	 

    	 

    

 

6.7 Reimbursement
of Expenses. In the event that it is necessary or desirable for Executive to retain legal counsel or incur other costs and
expenses in connection with the interpretation or enforcement of any and all of his rights under this Agreement, Executive will
be entitled to payment by the Employer of reasonable attorneys’ fees, costs, and expenses incurred by him in connection
with the interpretation or enforcement of said rights. Payment will be made to Executive by the Employer at the time such attorneys’
fees, costs, and expenses are incurred by him. If, however, Executive does not prevail in such enforcement action, he will repay
any such payments to the Employer and will reimburse the Employer for reasonable attorneys’ fees, costs, and expenses incurred
by the Employer in connection with such action. Further, Executive will reimburse the Employer for any attorneys’ fees and
all other costs and expenses incurred by the Employer in any action brought by the Employer relating to the enforcement of this
Agreement in which the Employer is the prevailing party. Fees payable hereunder will be in addition to any other damages, fees,
or amounts provided for herein.

 

6.8 Indemnification.
The Employer will indemnify Executive and hold him harmless from liability for acts or decisions made by him while performing
services for the Employer to the greatest extent permitted by applicable law. The Employer
will use its best efforts to obtain coverage for Executive under any insurance policy now in force or hereafter obtained during
the term of this Agreement insuring officers and directors of the Employer against such liability. Executive agrees to indemnify
and to hold the Employer harmless from any and all damages, losses, claims, liabilities, costs, or expenses arising from Executive’s
acts or omissions in violation of his duties under this Agreement that constitute fraud, gross negligence, or willful and knowing
violations of the terms of this Agreement.

 

6.9 Notices.
Any notice, demand, request, or other communication permitted or required under this Agreement will be in writing and will be
deemed to have been given as of the date so delivered, if personally delivered; as of the date so sent, if sent by electronic
mail and receipt is acknowledged by the recipient; one day after the date so sent, if delivered by
overnight courier service; or three days after the date so mailed, if mailed by certified mail, return receipt requested,
addressed as set forth on the signature page hereto or such other addresses as will be furnished in writing by any party. Each
party, by notice duly given in accordance herewith, may specify a different address for the giving of any notice hereunder.

 

6.10 Entire
Agreement. This Agreement contains the entire agreement between the parties hereto with respect to the subject matter contained
herein. No change, addition, or amendment will be made except by written agreement signed by the parties hereto.

 

6.11 Waiver
of Breach. The failure by any party to insist upon the strict performance of any covenant, duty, agreement, or condition of
this Agreement or the failure to exercise any right or remedy consequent upon a breach hereof will not constitute a waiver of
any such breach or of any covenant, agreement, term, or condition and the waiver by either party hereto of a breach of any provision
of this Agreement will not operate or be construed as a waiver of any subsequent breach by any party.

 

6.12 Counterparts.
This Agreement may be executed in a number of identical counterparts, each of which for all purposes is to be deemed an original,
and all of which constitute, collectively, one agreement. In making proof of this Agreement, it will not be necessary to produce
or account for more than one such counterpart.

 

6.13 Descriptive
Headings. In the event of a conflict between titles to articles and sections and the text, the text will control.

 

6.14 Governing
Law. This Agreement will be governed by and construed under and in accordance with the laws of the state of Utah without giving
effect to any choice or conflict of law provision or rule (whether the state of Utah or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the state of Utah.

 

    	 	8	 

    	 

    

 

SIGNED
AND DELIVERED to be effective as of the Effective Date set forth above.    

 

	 	 	EMPLOYER:
	 	 	 	 
		 	INVESTVIEW,
    INC.
	Address:	 	 
	234
    Industrial Way West, Suite A202 

    Eatontown, New Jersey 07724	 	By:	
	 	 	Name:	Annette
    Raynor
	 	 	Title:	Chief
    Executive Officer
	Address:	 	 	 
	109
    White Oak Lane, Suite 200-N	 	 	 
	Old
    Bridge, NJ 08857	 	 	 
	 	 	 	 
	 	 	EXECUTIVE:
	 	 	 
	 	 	

	 	 	JOSEPH
    CAMMARATA

 

    	 	9

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