<SEC-DOCUMENT>0001104659-25-064685.txt : 20250701
<SEC-HEADER>0001104659-25-064685.hdr.sgml : 20250701
<ACCEPTANCE-DATETIME>20250701153316
ACCESSION NUMBER:		0001104659-25-064685
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250701
DATE AS OF CHANGE:		20250701

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LANTRONIX INC
		CENTRAL INDEX KEY:			0001114925
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		ORGANIZATION NAME:           	06 Technology
		EIN:				330362767
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60979
		FILM NUMBER:		251095996

	BUSINESS ADDRESS:	
		STREET 1:		48 DISCOVERY, SUITE 250
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
		BUSINESS PHONE:		9494533990

	MAIL ADDRESS:	
		STREET 1:		48 DISCOVERY, SUITE 250
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chain of Lakes Investment Fund, LLC
		CENTRAL INDEX KEY:			0001762999
		ORGANIZATION NAME:           	
		EIN:				832465159
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		2600 EAGAN WOODS DR.
		STREET 2:		SUITE 350
		CITY:			EAGAN
		STATE:			MN
		ZIP:			55121
		BUSINESS PHONE:		651-256-6160

	MAIL ADDRESS:	
		STREET 1:		2600 EAGAN WOODS DR.
		STREET 2:		SUITE 350
		CITY:			EAGAN
		STATE:			MN
		ZIP:			55121
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <submissionType>SCHEDULE 13D/A</submissionType>
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    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <dateOfEvent>06/24/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001114925</issuerCIK>
        <issuerCUSIP>516548203</issuerCUSIP>
        <issuerName>LANTRONIX INC</issuerName>
        <address>
          <com:street1>48 Discovery, Suite 250</com:street1>
          <com:city>Irvine</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92618</com:zipCode>
        </address>
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      <authorizedPersons>
        <notificationInfo>
          <personName>Chain of Lakes Inv Fund, LLC</personName>
          <personPhoneNum>702-807-7858</personPhoneNum>
          <personAddress>
            <com:street1>Attention: Timothy O'Connell</com:street1>
            <com:street2>2600 Eagan Woods Dr., Suite 350</com:street2>
            <com:city>Eagan</com:city>
            <com:stateOrCountry>MN</com:stateOrCountry>
            <com:zipCode>55121</com:zipCode>
          </personAddress>
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      <reportingPersonInfo>
        <reportingPersonCIK>0001762999</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Chain of Lakes Investment Fund, LLC</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1184152.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1184152.00</sharedDispositivePower>
        <aggregateAmountOwned>1184152.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>3.0</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
        <commentContent>(1) The amounts in rows 8, 10 and 11 represent shares of Common Stock of Lantronix, Inc. held of record by Chain of Lakes Investment Fund, LLC ("COLIF").  These shares are subject to the terms of a Cooperation Agreement, which impacts the voting of such shares regarding certain matters.  See Item 4

(2) Percentage in row 13 calculated based on 38,890,328 shares of common stock, par value $0.0001 per share, outstanding as of May 1, 2025, as reported in the Form 10-Q for the quarterly period ended March 31, 2025, of Lantronix, Inc.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Christopher B. Woodruff</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>AF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1184152.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1184152.00</sharedDispositivePower>
        <aggregateAmountOwned>1184152.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>3.0</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>(1) The amounts in rows 8, 10 and 11 represent shares of Common Stock of Lantronix, Inc. held of record by COLIF.  These shares are subject to the terms of a Cooperation Agreement, which impacts the voting of such shares regarding certain matters.  See Item 4 As described in Item 2, Mr. Woodruff is deemed to have shared voting and dispositive power over the shares of the Company held by COLIF as a result of his position as President of COLIF.  Reference is made to Item 2 to this Schedule 13D. Mr. Woodruff disclaims beneficial ownership of the Common Shares owned by COLIF.

(2) Percentage in row 13 calculated based on 38,890,328 shares of common stock, par value $0.0001 per share, outstanding as of May 1, 2025, as reported in the Form 10-Q for the quarterly period ended March 31, 2025, of Lantronix, Inc.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Haluk L. Bayraktar</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>W8</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1668191.00</sharedVotingPower>
        <soleDispositivePower>1668191.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1668191.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.3</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>(1) The amounts in rows 8, 9 and 11 represent shares of Common Stock of Lantronix, Inc. held of record by Mr. Bayraktar.  These shares are subject to the terms of a Cooperation Agreement, which impacts the voting of such shares regarding certain matters.  See Item 4.

(2) Percentage in row 13 calculated based on 38,890,328 shares of common stock, par value $0.0001 per share, outstanding as of May 1, 2025, as reported in the Form 10-Q for the quarterly period ended March 31, 2025, of Lantronix, Inc.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Emre Aciksoz</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>W8</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>220000.00</sharedVotingPower>
        <soleDispositivePower>220000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>220000.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0.6</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>(1) The amounts in rows 8, 9 and 11 represent shares of Common Stock of Lantronix, Inc. held of record by Mr. Aciksoz.  These shares are subject to the terms of a Cooperation Agreement, which impacts the voting of such shares regarding certain matters.  See Item 4.

(2) Percentage in row 13 calculated based on 38,890,328 shares of common stock, par value $0.0001 per share, outstanding as of May 1, 2025, as reported in the Form 10-Q for the quarterly period ended March 31, 2025, of Lantronix, Inc.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock</securityTitle>
        <issuerName>LANTRONIX INC</issuerName>
        <issuerPrincipalAddress>
          <com:street1>48 Discovery, Suite 250</com:street1>
          <com:city>Irvine</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92618</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Amendment No. 1 to Schedule 13D (this "Amendment") relates to the shares of common stock, $0.0001 par value per share (the "Common Stock"), of Lantronix, Inc., a Delaware corporation (the "Issuer") that are or may be deemed to be beneficially owned by the Reporting Persons (as defined below) and amends certain information included in the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on June 2, 2025 (the "Original Schedule 13D").</commentText>
      </item1>
      <item2>
        <filingPersonName>This Amendment is being jointly filed by Chain of Lakes Investment Fund, LLC ("COLIF"), Christopher B. Woodruff, Haluk L. Bayraktar and Emre Aciksoz (the "Reporting Persons").</filingPersonName>
        <principalBusinessAddress>The information set forth in Item 2(b) of the Original Schedule 13D is incorporated by reference in its entirety into this Item 2(b).</principalBusinessAddress>
        <principalJob>COLIF is principally engaged in the business of investing.  Mr. Woodruff is principally engaged as President of COLIF and may be deemed to have shared voting and shared dispositive power over the Common Stock held of record by COLIF as a result of his position as President of COLIF.  Mr. Bayraktar is principally engaged in serving as Chief Executive Officer of Baykar Technologies.  Mr. Aciksoz is principally engaged in the business of investing.</principalJob>
        <hasBeenConvicted>The information set forth in Item 2(d) of the Original Schedule 13D is incorporated by reference in its entirety into this Item 2(d).</hasBeenConvicted>
        <convictionDescription>The information set forth in Item 2(e) of the Original Schedule 13D is incorporated by reference in its entirety into this Item 2(e).</convictionDescription>
        <citizenship>COLIF is a Delaware limited liability company.

Christopher B. Woodruff is an individual and citizen of the United States of America.

Haluk L. Bayraktar is an individual and citizen of Turkey.

Emre Aciksoz is an individual and citizen of Turkey.</citizenship>
      </item2>
      <item3>
        <fundsSource>The Reporting Persons may be deemed to constitute a group pursuant to Rule 13d-5(b). If the Reporting Persons are deemed to have formed a group, the group could be deemed to beneficially own the shares collectively held by the group, which would be an aggregate of 3,072,343 shares of Common Stock or 7.9% of the issued and outstanding shares of Common Stock of the Issuer; however, each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock held by the other Reporting Persons except to the extent of their pecuniary interest therein (if any).

All of the shares of Common Stock to which this Statement relates were purchased on behalf of the Reporting Persons using the investment capital of the respective Reporting Person (or in the case of Mr. Woodruff, the investment capital of COLIF). The aggregate purchase price of the 3,072,343 shares of Common Stock acquired was approximately $10,873,561.  The shares of the Issuer's Common Stock held by the Reporting Persons is referred to herein as the "Shares."</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>The Reporting Persons acquired the Shares because they believed the Shares were materially undervalued and represented an attractive investment opportunity. As described in paragraphs one, two and three of Item 4 of the Original Schedule 13D, the Reporting Persons were of the view that (i) the Issuer's Board of Directors (the "Board"), had been highly ineffective at creating any sustainable shareholder value since the Issuer's shares began to be publicly traded on August 4, 2000 (the "IPO"); (ii) the ongoing lack of scale in the Issuer's business, combined with its highly inefficient public-company structure, left shareholders at serious risk of further value degradation; and (iii) the Issuer's business presented significantly more value to a strategic acquirer than its public market valuation.

As a result of the foregoing and as disclosed in detail in Item 4 of the Original Schedule 13D, the Reporting Persons considered taking one or more actions described in subjections (a) through (j) of Item 4 of Schedule 13D, and intended to seek to replace a majority of the current members of the Board of the Issuer with candidates that were committed to an expedited return of shareholders' capital through a sale of the Issuer by running a competing proxy statement at the Issuer's 2025 Annual Meeting of Stockholders.

Subsequent to the filing of the Original Schedule 13D, the Reporting Persons engaged in discussions with the Issuer, and the parties have agreed to resolve their differences with respect to this matter by entering into a Cooperation Agreement dated June 24, 2025 (the "Cooperation Agreement").  Under the terms of the Cooperation Agreement, the Issuer agreed to appoint James (Jim) C. Auker to its Board and agreed to nominate him for election to the Issuer's Board at its 2025 Annual Meeting of Stockholders (the date for which has not yet been announced).  The Reporting Persons agreed not to become a party to any agreements, arrangements or understandings with Mr. Auker regarding his Board service, and all of the parties to the Cooperation Agreement acknowledged that Mr. Auker would be subject to the standard policies and benefits applicable to members of the Board generally.  The parties further agreed that so long as the Reporting Persons hold in the aggregate 1% of the Issuer's then outstanding shares of Common Stock, then to the extent that Mr. Auker is unable or unwilling to serve on the Board during the term of the Cooperation Agreement, COLIF shall have the ability to recommend a replacement appointee, subject to certain limitations.

The Cooperation Agreement has an initial term that ends on the earlier of the date that is (i) 15 days prior to the deadline for the submission of stockholder nominations for the Company's 2026 annual meeting of stockholders, and (ii) 120 days prior to the first anniversary of the 2025 annual meeting of stockholders, with the ability of the Issuer to extend the term to the comparable periods related to the 2027 annual meeting of stockholders (or anniversary of 2026 annual meeting of stockholders), to the extent that Mr. Auker (or his replacement) is renominated by the Issuer, all as described in and subject to the terms of the Cooperation Agreement.

In addition to matters related to Board service, the Cooperation Agreement also obligates the Issuer to use its reasonable best efforts to engage a nationally recognized investment bank or financial advisor within 60 days of Mr. Auker's appointment to the Board to evaluate the Issuer's strategic alternatives, which shall be periodically reviewed and reassessed by the Board during the term of the Cooperation Agreement.

The Reporting Persons also agreed to vote all shares of the Issuer's Common Stock owned by them in favor of the election of the Board's director nominees and in accordance with the Board's recommendations on various proposals and business that may be brought forth at meetings of the Issuer's stockholders, subject to certain limitations for various extraordinary corporate transactions and to the extent that Institutional Shareholder Services Inc. or Glass, Lewis &amp; Co., LLC recommend otherwise (except with respect to recommendations related to the election or removal of directors).

In addition, except as otherwise addressed in the Cooperation Agreement, the Reporting Persons agreed not to: (i) acquire additional Issuer securities or assets; (ii) nominate persons to the Board; (iii) participate in proxy solicitations with respect to the Issuer's directors or other matters; (iv) take various other actions regarding matters to be undertaken at meetings of stockholders; (v) form groups related to the voting of the Issuer's shares, including creating voting trusts; (vi) engage in certain short-sales or swap transactions with respect to the Issuer's securities; and (vii) take various other actions, including initiating various types of unsolicited extraordinary corporate transactions involving the Issuer.

The Cooperation Agreement also prohibits the parties from making various statements that would constitute an attack on, or otherwise disparage, attempt to discredit, criticize, call into disrepute, defame, slander, impugn or are reasonably likely to damage the reputation of the opposing parties.  In addition, the parties agreed not to encourage, pursue or assist any other persons in legal proceedings against each other, subject to certain limitations.

A copy of the Cooperation Agreement has been filed as Exhibit 1 hereto, and the foregoing summary of its terms is qualified in its entirety by reference to the specific terms of such agreement.

The Reporting Persons intend to review their investment in the Issuer on a continuing basis, and depending on various factors, may in the future take such actions with respect to their investment in the Issuer as they deem appropriate, subject to compliance with the terms of the Cooperation Agreement.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The information set forth in the cover pages of this Schedule 13D is hereby incorporated by reference in this Item 5.  As of the date hereof the Reporting Persons beneficially own an aggregate of 3,072,343 shares of the Issuer's Common Stock, representing 7.9% of the outstanding shares.</percentageOfClassSecurities>
        <numberOfShares>The information set forth in the cover pages of this Schedule 13D is hereby incorporated by reference in this Item 5.

The Reporting Persons may be deemed to constitute a group pursuant to Rule 13d-5(b), in which case each of the Reporting Persons could be deemed to beneficially own all the shares of Common Stock held by the other Reporting Persons; however, each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock held by the other Reporting Persons except to the extent of their pecuniary interest therein (if any).</numberOfShares>
        <transactionDesc>Information concerning transactions in the Shares effected by the Reporting Persons since the filing of the Original Schedule 13D on June 2, 2025 is set forth in Exhibit 2 hereto and is incorporated herein by reference. All of the transactions in Shares listed hereto were effected in the open market.</transactionDesc>
        <listOfShareholders>No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, shares beneficially owned by any of the Reporting Persons.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>The Reporting Persons' discussions of their views about the Issuer, and their entry into the Cooperation Agreement, may result in the Reporting Persons being deemed to be acting together for the purpose of acquiring, holding, voting or disposing of the Issuer's securities for purposes of Rule 13d-5(b).

As described in Item 4 above, on June 24, 2025, the Reporting Persons and the Issuer entered into a Cooperation Agreement.  The material aspects of the Cooperation Agreement have been summarized in Item 4 above.  Such summary is incorporated by reference into this Item 6, and is qualified in its entirety by reference to the terms of the Cooperation Agreement, a copy of which has been filed as Exhibit 1 hereto.

Except as described herein, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect to any securities of the Issuer.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>1 Cooperation Agreement among Lantronix, Inc., Chain of Lakes Investment Fund, LLC, Haluk L. Bayraktar and Emre Aciksoz dated June 24, 2025 (excluding Exhibit A thereto)

2  Schedule of Transactions by the Reporting Persons since Original Schedule 13D

3*  Joint Filing Agreement

* Incorporated by reference to Exhibit 2 to the Original Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on June 2, 2025.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Chain of Lakes Investment Fund, LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Christopher B. Woodruff</signature>
          <title>President</title>
          <date>06/30/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Christopher B. Woodruff</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Christopher B. Woodruff</signature>
          <title>Christopher B. Woodruff</title>
          <date>06/30/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Haluk L. Bayraktar</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Haluk L. Bayraktar</signature>
          <title>Haluk L. Bayraktar</title>
          <date>06/30/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Emre Aciksoz</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Emre Aciksoz</signature>
          <title>Emre Aciksoz</title>
          <date>06/30/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2519491d1_ex1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">COOPERATION AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This COOPERATION AGREEMENT
(this &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement</B>&rdquo;) is made and entered into as of June&nbsp;24, 2025, by and among Lantronix,&nbsp;Inc., a Delaware
corporation (the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Company</B>&rdquo;) with its principal executive offices at 48&nbsp;Discovery, Suite&nbsp;250 Irvine, CA 92618,
Chain of Lakes Investment Fund, LLC (&ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chain of Lakes</B>&rdquo;), a Delaware limited liability company, with its principal place
of business at 2600&nbsp;Eagan Woods Dr., Suite&nbsp;350, Eagan, MN, 55121, Haluk&nbsp;L. Bayraktar, an individual, and Emre Aciksoz,
an individual. The Company, Chain of Lakes, Mr.&nbsp;Bayraktar, and Mr.&nbsp;Aciksoz are each herein referred to as a &ldquo;Party&rdquo;
and collectively, the &ldquo;Parties.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, on June&nbsp;2, 2025,
Chain of Lakes, together with Haluk L. Bayraktar, and Emre Aciksoz (collectively, the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reporting Persons</B>&rdquo;), jointly
filed a Schedule 13D with the U.S.&nbsp;Securities and Exchange Commission (the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule 13D&rdquo;);</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as of the date hereof,
the only shares of the Company&rsquo;s common stock, par value $0.0001 per share (the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock</B>&rdquo;), beneficially
owned by the Reporting Persons are as follows: Chain of Lakes, 1,184,152&nbsp;shares (with shared voting and dispositive power exercised
by Christopher&nbsp;B. Woodruff solely in his capacity as President of Chain of Lakes and without individual beneficial ownership); Haluk&nbsp;L.
Bayraktar, 1,668,191&nbsp;shares; and Emre Aciksoz, 220,000&nbsp;shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Schedule 13D
indicates that the Reporting Persons intend to run a competing proxy solicitation in connection with the Company&rsquo;s 2025 Annual Meeting
of Stockholders (the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025 Annual Meeting</B>&rdquo;) to replace a majority of the current members of the Board of Directors
(the &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board</B>&rdquo;) with candidates who support an expedited return of shareholder capital through a potential sale of the
Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, following discussions
between the Parties, the Parties have agreed to resolve the matter pursuant to the terms set forth herein, including certain changes to
the composition of the Board and other related matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board Composition and Related Matters.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company agrees that, as promptly as practicable
following the execution and delivery of this Agreement, the Board and all applicable committees thereof will take all necessary actions
to (i)&nbsp;increase the size of the Board from five&nbsp;(5)&nbsp;to six&nbsp;(6)&nbsp;directors, and (ii)&nbsp;appoint James Auker (the
&ldquo;New Director&rdquo;) to fill the vacancy thereby created. The Company further agrees to nominate the New Director for election
at the 2025 Annual Meeting and to recommend, support and solicit proxies for the election of the New Director in the same manner as for
the Company&rsquo;s other director nominees at the 2025 Annual Meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Reporting Persons each represents and warrants
that as of the date of this Agreement neither it nor any of its Affiliates (as defined below) is, and during the term of this Agreement
such persons will not become, a party to any agreement, arrangement or understanding, written or oral, with the New Director regarding
such person&rsquo;s service on the Board or any committee thereof.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each Party acknowledges that the New Director,
upon appointment to the Board, shall be governed by all the same policies, processes, procedures, codes, rules, standards and guidelines
applicable to all members of the Board, including, but not limited to, the Company&rsquo;s corporate governance, ethics, conflict of interest,
confidentiality, stock ownership and trading policies and guidelines and similar governance documents, policies, procedures, processes,
codes, rules, standards and guidelines that are applicable to all of the Company&rsquo;s non-employee directors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The New Director will be entitled to the same
director benefits as other non-employee members of the Board, including, but not limited to, (i)&nbsp;compensation for such director&rsquo;s
service as a director and reimbursement of such director&rsquo;s expenses on the same basis as all other non-employee directors of the
Company; (ii)&nbsp;equity-based compensation grants and other benefits on the same basis as all other non-employee directors of the Company;
and (iii)&nbsp;the same rights of indemnification advancement and directors&rsquo; and officers&rsquo; liability insurance coverage as
the other non-employee directors of the Company as such rights may exist from time to time.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company agrees that if the New Director
is unable or unwilling to serve as a director for any reason, resigns as a director or is removed as a director prior to the Termination
Date (as defined below), then Chain of Lakes shall have the ability to recommend a replacement person (the &ldquo;Replacement Appointee&rdquo;),
provided that any such substitute person so recommended shall qualify as &ldquo;independent&rdquo; pursuant to Nasdaq&rsquo;s listing
standards and have the relevant business, financial, or governance expertise to fill the resulting vacancy, including with respect to
any applicable committee(s)&nbsp;of the Board of which the New Director was a member immediately prior to the New Director becoming unable
or unwilling to serve as a director, and shall provide any information the Company reasonably requires to complete its customary onboarding
procedures for Board members (including a completed directors&rsquo; and officers&rsquo; questionnaire in substantially similar form and
substance to those required by the then current members of the Board and consent to a customary background check). Upon the recommendation
of a Replacement Appointee by Chain of Lakes, the Board and/or any applicable committee thereof shall make its determination regarding
whether such Replacement Appointee meets the foregoing criteria no later than ten&nbsp;(10)&nbsp;Business Days after such recommendation;
provided, however, that if the Board does not accept such Replacement Appointee as recommended, the Parties shall continue to follow the
aforementioned procedures until a Replacement Appointee is appointed or elected to the Board as recommended by Chain of Lakes. Subject
to applicable national securities exchange rules&nbsp;and applicable law, upon a Replacement Appointee&rsquo;s appointment to the Board,
the Board and all applicable committees of the Board shall take all actions necessary to appoint such Replacement Appointee to any applicable
committee(s)&nbsp;of the Board of which the New Director was a member immediately prior to the New Director becoming unable or unwilling
to serve as a director. The provisions of this section shall apply to any Replacement Appointee nominated or appointed to the Board who
becomes unable to serve as a director or nominee prior to the Termination Date. Any Replacement Appointee shall be considered a New Director
for all purposes of this Agreement and shall succeed to all of the rights and privileges, and be bound by the terms and conditions, of
the New Director under this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&rsquo;s obligations under subparagraph
(e)&nbsp;shall terminate upon the earliest of such time as: (a)&nbsp;the Reporting Persons beneficially own shares of the Company&rsquo;s
common stock representing in the aggregate less than one percent&nbsp;(1%) of the Company&rsquo;s then-outstanding common stock; or (b)&nbsp;any
of the Reporting Persons or any of their Representatives breaches in any material respect any of the terms of this Agreement, upon five
Business Days written notice by the Company to the Reporting Persons if such breach has not been cured within such notice period, provided,
in the case of this clause&nbsp;(b), that the Company is not in material breach of this Agreement at the time such notice is given or
prior to the end of the notice period.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company agrees to use its reasonable best
efforts to engage a nationally recognized investment bank or financial advisor within sixty&nbsp;(60) days following the appointment of
the New Director to the Board. The engagement shall include the evaluation of strategic alternatives, including but not limited to a potential
sale of the company, acquisitions, divestitures, partnerships, joint ventures, or other transactions, as well as continuing to operate
as an independent publicly traded entity. During the term of this Agreement, the Board, in consultation with such financial advisor, shall
periodically review and reassess such strategic alternatives. For the avoidance of doubt, nothing in this Section&nbsp;1(g)&nbsp;shall
be construed as obligating the Company to pursue or consummate any transaction. Chain of Lakes shall have the right, upon reasonable prior
written notice and during normal business hours, to make reasonable inquiries and receive periodic updates solely to confirm the Company&rsquo;s
compliance with its obligations set forth in the first two sentences of this Section&nbsp;1(g). The Company shall respond to such inquiries
in good faith; provided, however, that nothing herein shall require the Company to disclose material non-public information. All information
provided to Chain of Lakes in response to such inquiries shall be treated as confidential by Chain of Lakes and may not be further disclosed
by Chain of Lakes without the prior written consent of the Board.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting Commitment</U></B></FONT>.
Until the Termination Date, the Reporting Persons shall appear in person or by proxy at each Stockholder Meeting for quorum purposes and
to vote all shares of Common Stock that are owned of record or beneficially owned, as of the record date for such Stockholder Meeting,
by it or its controlling or controlled Affiliates and over which it has voting power on the Company&rsquo;s proxy card or consent card
(a)&nbsp;in favor of the election of each person nominated by the Board for election as a director; (b)&nbsp;against the election as director
of any person that is not approved and recommended by the Board for election at any such Stockholder Meeting; (c)&nbsp;against any proposals
or resolutions to remove any member of the Board; and (d)&nbsp;in accordance with the recommendation of the Board on all other proposals
or business that may be the subject of stockholder action at such Stockholder Meeting; provided, however, that the Reporting Persons shall
each be permitted to vote all or some of the shares of Common Stock that it beneficially owns and over which it has voting power at such
Stockholder Meeting in its sole discretion with respect to an Extraordinary Transaction; provided further, that to the extent Institutional
Shareholder Services Inc. (&ldquo;ISS&rdquo;) or Glass, Lewis&nbsp;&amp; Co., LLC (&ldquo;Glass Lewis&rdquo;) recommends otherwise, the
Reporting Persons may vote their shares of Common Stock in accordance with the ISS or Glass Lewis recommendation on such matter (other
than the election or removal of directors to which this proviso shall not apply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Standstill</U></B></FONT>.
Prior to the Termination Date, except as otherwise expressly provided in this Agreement, without the prior written consent of the Board,
the Reporting Persons shall not, and shall cause each of its controlled Affiliates not to, directly or indirectly:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>acquire,
or offer, seek or agree to acquire, by purchase or otherwise (including by joining a partnership, limited partnership, syndicate or other
group, including a &ldquo;group&rdquo; as defined pursuant to Section&nbsp;13(d)&nbsp;of the Exchange Act (as defined below)), or direct
any third party in the acquisition of beneficial ownership of any securities of the Company or assets of the Company, or rights or options
to acquire any securities of the Company or assets of the Company, or engage in any swap or hedging transactions or other derivative
agreements of any nature with respect to securities of the Company;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;nominate, recommend for nomination
or give notice of an intent to nominate or recommend for nomination a person for election or removal at any Stockholder Meeting at which
the Company&rsquo;s directors are to be elected or otherwise seek representation on the Board; (ii)&nbsp;knowingly initiate or participate
in, directly or indirectly, any solicitation of proxies or consents in respect of any election contest or removal contest at any Stockholder
Meeting with respect to the Company&rsquo;s directors; (iii)&nbsp;submit, initiate, make or be a proponent of any business by any stockholder
of the Company to be brought before any Stockholder Meeting; (iv)&nbsp;knowingly initiate, encourage or participate in any solicitation
of proxies or consents in respect of any business by any stockholder of the Company to be brought before any Stockholder Meeting; (v)&nbsp;knowingly
initiate, seek to advise, influence, encourage or participate in any &ldquo;withhold,&rdquo; &ldquo;against,&rdquo; &ldquo;vote no,&rdquo;
defeat quorum or similar campaign with respect to any nomination or proposal made by or at the direction of the Board and brought before
any Stockholder Meeting; (vi)&nbsp;knowingly encourage, advise or influence any other person or knowingly assist any person in so encouraging,
advising or influencing any person with respect to the giving or withholding of any proxy, consent or other authority to vote or in conducting
any type of referendum, binding or non-binding (other than such encouragement, advice or influence that is consistent with the Company&rsquo;s
recommendation in connection with such matter); or (vii)&nbsp;request that, or knowingly encourage any person to request that, the Company
call any Stockholder Meeting;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">form, join or in any way participate in any
group or agreement of any kind with respect to any Voting Securities, including in connection with any election or removal contest with
respect to the Company&rsquo;s directors or any business by any stockholder of the Company to be brought before any Stockholder Meeting;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">deposit any Voting Securities in any voting
trust or subject any Voting Securities to any arrangement or agreement with respect to the voting thereof (other than as otherwise in
accordance with this Agreement);</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">engage in any short sale or any purchase, sale
or grant of any option, warrant, convertible security, stock appreciation right or other similar right (including any put or call option
or &ldquo;swap&rdquo; transaction)&nbsp;with respect to any security (other than a broad-based market basket or index)&nbsp;that includes,
relates to or derives any significant part of its value from a decline n the market price or value of the securities of the Company and
would, in the aggregate or individually, result in any of the Reporting Persons, ceasing to have a &ldquo;net long position&rdquo; in
the Company;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sell, offer or agree to sell all or substantially
all, directly or indirectly, through swap or hedging transactions or otherwise, voting rights decoupled from the underlying common stock
of the Company held by a Representative of any of the Reporting Persons to any third party;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">demand an inspection of the stock list materials
or the books and records of the Company or its subsidiaries;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;make any public proposal with respect
to or (ii)&nbsp;make any public statement or otherwise seek to encourage, advise or assist any person with respect to any public proposals
or statements related to (A)&nbsp;any change in the number or term of directors serving on the Board or the filling of any vacancies or
newly created directorships on the Board, (B)&nbsp;any change in the capitalization or dividend policy of the Company, (C)&nbsp;any other
change in the Company&rsquo;s management, governance, corporate structure, affairs or policies, (D)&nbsp;any Extraordinary Transaction
or any material acquisition of any assets or businesses of the Company or any of its subsidiaries, (E)&nbsp;causing any class or series
of the Company&rsquo;s equity securities to be delisted from, or to cease to be authorized to be quoted on, any securities exchange, (F)&nbsp;causing
any class or series of the Company&rsquo;s equity securities to become eligible for termination of registration pursuant to Section&nbsp;12(g)(4)&nbsp;of
the Exchange Act, or (G)&nbsp;any intent, purpose, plan or proposal that is inconsistent with the standstill provisions of this Agreement;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">knowingly initiate, directly or indirectly,
any unsolicited Extraordinary Transaction or make, directly or indirectly, any unsolicited proposal, either alone or in concert with others,
to the Company or the Board (or any committee thereof)&nbsp;that would reasonably be expected to require a public announcement or disclosure
regarding any such matter (it being understood that the foregoing shall not restrict the Reporting Persons from tendering shares, receiving
payment for shares or otherwise participating in any Extraordinary Transaction on the same basis as other stockholders of the Company);</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">effect or seek to effect, offer or propose to
effect, cause, or in any way knowingly assist or facilitate any other person to effect or seek, offer or propose to effect or participate
in, any unsolicited: (i)&nbsp;material acquisition of any assets or businesses of the Company or any of its subsidiaries; (ii)&nbsp;tender
offer or exchange offer, merger, consolidation, acquisition, share exchange or other business combination involving any of the Voting
Securities or any of the material assets or businesses of the Company or any of its subsidiaries; or (iii)&nbsp;recapitalization, restructuring,
liquidation, dissolution or other material transaction with respect to the Company or any of its subsidiaries or any material portion
of its or their businesses (it being understood that each of the foregoing (i)-(iii)&nbsp;shall not restrict any of the Reporting Persons
from tendering shares, receiving payment for shares or otherwise participating in any Extraordinary Transaction on the same basis as other
stockholders of the Company);</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">enter into any negotiations, agreements, arrangements
or understandings with any Third Party with respect to the foregoing, or advise, assist, knowingly encourage or seek to persuade any Third
Party to take any action with respect to any of the foregoing, or otherwise take or cause any action inconsistent with any of the foregoing;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">publicly make or in any way advance publicly
any request or proposal that the Company or the Board (or any committee thereof)&nbsp;amend, modify or waive any provision of this Agreement;
or</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">take any action challenging the validity or
enforceability of this <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3</U> or this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything in
this Agreement to the contrary, the restrictions in this <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3</U> shall not prevent any of the Reporting Persons from (1)&nbsp;making
any factual statement or public disclosure as required by applicable legal process, subpoena or legal requirement from any governmental
authority with competent jurisdiction over the Party from whom information is sought (so long as such request did not arise as a result
of action by any of the Reporting Persons or its Affiliates), (2)&nbsp;making any confidential communication to the Company or its directors
and officers that would not be reasonably expected to trigger public disclosure obligations for any of the Parties, or (3)&nbsp;tendering
shares of Common Stock, receiving payment for shares of Common Stock or otherwise participating in any transaction on the same basis as
the other stockholders of the Company or from participating in any such transaction that has been approved by the Board, subject to the
other terms of this Agreement. Furthermore, for the avoidance of doubt, nothing in this Section&nbsp;3 shall be deemed to limit the exercise
in good faith by the New Director of his fiduciary duties in his capacity as a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Disparagement</U></B></FONT>.
Subject to applicable law, until the later to occur of (A)&nbsp;the Termination Date or (B)&nbsp;if the Company delivers the Renomination
Notice (as defined below) (regardless of whether the New Director accepts such nomination and/or resigns prior to the Termination Date),
the Extension Date, the Company and the Reporting Persons shall each refrain from making, and shall instruct their respective Representatives
not to make or cause to be made, any public or private statement to a third party or announcement, including without limitation in any
document or report filed with or furnished to the SEC or through the press, media (including social media), analysts or other persons,
that constitutes an ad hominem attack on, or otherwise disparages, attempts to discredit, criticizes, calls into disrepute, defames, slanders,
impugns or is reasonably likely to damage the reputation of, (a)&nbsp;in the case of statements or announcements by any of the Reporting
Persons or their Representatives, the Company, any of its Representatives, any of its current or former directors, officers or employees,
or the Company&rsquo;s corporate strategy, corporate activities, practices, procedures, business, business operations, products or services
and (b)&nbsp;in the case of statements or announcements by the Company or its Representatives, any of the Reporting Persons or any of
their Representatives. The restrictions in this Section&nbsp;4 shall not (a)&nbsp;apply to (i)&nbsp;any compelled testimony or production
of information, whether by legal process, subpoena or as part of a response to a request for information from any governmental or regulatory
authority with jurisdiction over the Party from whom information is sought, in each case, to the extent legally required, or (ii)&nbsp;any
disclosure that such Party reasonably believes, after consultation with outside counsel, to be legally required by applicable law, rules&nbsp;or
regulations; (b)&nbsp;prohibit any Party from reporting what it reasonably believes, after consultation with outside counsel, to be violations
of federal law or regulation to any governmental authority pursuant to Section&nbsp;21F of the Exchange Act or Rule&nbsp;21F promulgated
thereunder; or (c)&nbsp;apply to efforts to enforce either Party&rsquo;s rights pursuant to this Agreement in accordance with this Agreement.
The limitations set forth in this Section&nbsp;4 shall not prevent any Party from responding to any public statement made by the other
Party of the nature described in this Section&nbsp;4 if such statement by the other Party was made in breach of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
Litigation</U></B></FONT>. Prior to the Termination Date, each Party hereby covenants and agrees that it shall not, and shall not permit
any of its Representatives acting on its behalf to, directly or indirectly, alone or in concert with others, knowingly encourage, pursue
or assist any other person to threaten or initiate, any action, suit, claim or proceeding before any court (each, a &ldquo;Legal Proceeding&rdquo;)&nbsp;against
any of the other Parties or any of their respective Representatives, except for (a)&nbsp;claims arising out of facts not known by such
Party as of the date hereof, (b)&nbsp;any Legal Proceeding initiated primarily to remedy a breach of or to enforce this Agreement and
(c)&nbsp;counterclaims and affirmative defenses with respect to any Legal Proceeding initiated by, or on behalf of one Party or its Affiliates
against any of the other Parties or any of their respective Affiliates; provided, however, that this <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;5</U> shall not prevent
any Party or any of its Representatives from (i)&nbsp;responding to oral questions, interrogatories, requests for information or documents,
subpoenas, civil investigative demands or similar processes (each, a &ldquo;Legal Requirement&rdquo;) in connection with any Legal Proceeding
if such Legal Proceeding has not been initiated by, on behalf of or at the direct or indirect suggestion of such Party or any of its Representatives;
provided, further, that in the event any Party or any of its Representatives receives such Legal Requirement, such Party shall give prompt
written notice of such Legal Requirement to the other Parties (except where such notice would be legally prohibited or not practicable);
(ii)&nbsp;bringing bona fide commercial disputes that do not in any manner relate to the subject matter of this Agreement; (iii)&nbsp;exercising
statutory appraisal rights; or (iv)&nbsp;responding to or complying with a validly issued legal process. Each Party represents and warrants
that neither it nor any assignee has filed any Legal Proceeding against any of the other Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public Statements; SEC
Filings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promptly following the execution of this Agreement,
the Company shall issue a mutually agreeable press release (the &ldquo;Company&rsquo;s Press Release&rdquo;)&nbsp;announcing the terms
of this Agreement in the form attached hereto as <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;A</U>. Prior to the issuance of the Press Release and subject to the
terms of this Agreement, neither the Company (including the Board and any committee thereof)&nbsp;or any of the Reporting Persons nor
any of their respective Affiliates or Associates shall issue any press release or public announcement with respect to the entry into this
Agreement or take any action that would require public disclosure of this Agreement without the prior written consent of the other Parties,
except to the extent required by law.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promptly following the execution of this Agreement,
the Company shall file (or cause to be filed)&nbsp;with the SEC a Current Report on Form&nbsp;8-K reporting its entry into this Agreement,
disclosing applicable items to conform to its obligations hereunder and appending this Agreement as an exhibit thereto (the &ldquo;Form&nbsp;8-K&rdquo;).
The Form&nbsp;8-K shall be consistent with the terms of this Agreement and the Press Release. The Company shall provide Chain of Lakes
and its Representatives with a reasonable opportunity to review and comment on the Form&nbsp;8-K prior to the filing with the SEC and
consider in good faith any timely comments of the members of the Chain of Lakes and its Representatives.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promptly following the execution of this Agreement,
Chain of Lakes shall file (or cause to be filed)&nbsp;with the SEC an amended Schedule&nbsp;13D reporting entry into this Agreement by
the Reporting Persons, disclosing applicable items to conform to its obligations hereunder. The amended Schedule&nbsp;13D shall be consistent
with the terms of this Agreement and the Press Release. Chain of Lakes shall provide the Company and its Representatives with a reasonable
opportunity to review and comment on the amended Schedule&nbsp;13D prior to the filing with the SEC and consider in good faith any timely
comments of the Company and its Representatives.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Affiliates
and Associates</U></B></FONT>. Each Party shall instruct its controlled Affiliates and its Associates to comply with the terms of this
Agreement and shall be responsible for any breach of this Agreement by any such controlled Affiliate or such Associate. A breach of this
Agreement by a controlled Affiliate or an Associate of a Party, if such controlled Affiliate or such Associate is not a party to this
Agreement, shall be deemed to occur if such controlled Affiliate or such Associate engages in conduct that would constitute a breach of
this Agreement if such controlled Affiliate or such Associate was a party to the same extent as a party to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representations and
Warranties.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each of the Reporting Persons represents and
warrants that (i)&nbsp;the authorized signatory set forth on the signature page&nbsp;hereto has full power and authority to execute, deliver
and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby, and (ii)&nbsp;this Agreement
has been duly and validly executed and delivered by it, constitutes a valid and binding obligation and agreement of it and is enforceable
against it in accordance with its terms. Chain of Lakes represents and warrants that the execution of this Agreement, the consummation
of any of the transactions contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof,
will not conflict with, or result in a breach or violation of any organizational documents of it as currently in effect, and that the
execution, delivery and performance of this Agreement by it does not and will not violate or conflict with (A)&nbsp;any law, rule, regulation,
order, judgment or decree applicable to it or (B)&nbsp;result in any breach or violation of or constitute a default (or an event which
with notice or lapse of time or both could constitute such a breach, violation or default)&nbsp;under or pursuant to, or result in the
loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document,
agreement, contract, commitment, understanding or arrangement to which it is a party or by which it is bound.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company hereby represents and warrants that
it has full power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions
contemplated hereby, and that this Agreement has been duly and validly authorized, executed and delivered by the Company, constitutes
a valid and binding obligation and agreement of the Company and is enforceable against the Company in accordance with its terms. The Company
represents and warrants that the execution of this Agreement, the consummation of any of the transactions contemplated hereby, and the
fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not conflict with, or result in a breach or violation
of the organizational documents of the Company as currently in effect, and that the execution, delivery and performance of this Agreement
by the Company does not and will not violate or conflict with (i)&nbsp;any law, rule, regulation, order, judgment or decree applicable
to the Company or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event which with notice or lapse of time
or both could constitute such a breach, violation or default)&nbsp;under or pursuant to, or result in the loss of a material benefit under,
or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment,
understanding or arrangement to which the Company is a party or by which it is bound.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Termination</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The initial term of this Agreement shall end
on the earlier of (i)&nbsp;the date that is fifteen&nbsp;(15) days prior to the deadline for the submission of stockholder nominations
for the Company&rsquo;s 2026 annual meeting of stockholders, and (ii)&nbsp;the date that is one hundred twenty&nbsp;(120) days prior to
the first anniversary of the 2025 Annual Meeting (the date of termination, the &ldquo;Termination Date&rdquo;); <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided, however</U>,
that the term of this Agreement shall be extended until the date (such date, the &ldquo;Extension Date&rdquo;)&nbsp;that is the earlier
of (i)&nbsp;the date that is fifteen&nbsp;(15) days prior to the deadline for the submission of stockholder nominations for the Company&rsquo;s
2027 (or such later year in the case of successive renewals)&nbsp;annual meeting of stockholders, and (ii)&nbsp;the date that is one hundred
twenty days&nbsp;(120) prior to the first anniversary of the 2026 Annual Meeting (or such later year in the case of successive renewal)&nbsp;if
the Company notifies the Reporting Persons ten days prior to the originally scheduled Termination Date that it has irrevocably offered
the New Director to re-nominate such New Director (including any Replacement Appointee)&nbsp;at the 2026 Annual Meeting and recommend,
support and solicit proxies for the election of such New Director at the 2026 Annual Meeting in the same manner as for the Company&rsquo;s
other nominees at such annual meeting (such notification, the &ldquo;Renomination Notification&rdquo;), unless the New Director resigns
from the Board prior to the originally scheduled Termination Date (in which case (i)&nbsp;the Company shall not be obligated to re-nominate,
recommend, support or solicit proxies for the New Director and (ii)&nbsp;the term of this Agreement shall not be extended and shall end
on the originally scheduled Termination Date).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If this Agreement is terminated in accordance
with this <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9</U>, this Agreement shall forthwith become null and void, but no termination shall relieve any Party from
liability for any breach of this Agreement prior to such termination. Notwithstanding the foregoing, <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;4</U>, this <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9</U>
and <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sections&nbsp;11</U> through <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</U> shall survive the termination or expiration of this Agreement in accordance with their respective
terms.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notices</U></B></FONT>.
All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall be
in writing and shall be deemed to have been given (a)&nbsp;when delivered by hand, with written confirmation of receipt; (b)&nbsp;upon
sending if sent by electronic mail to the electronic mail addresses below, with confirmation of receipt from the receiving party by electronic
mail; (c)&nbsp;one&nbsp;(1)&nbsp;Business Day after being sent by a nationally recognized overnight carrier to the addresses set forth
below; or (d)&nbsp;when actually delivered if sent by any other method that results in delivery, with written confirmation of receipt:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If to the Company to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Lantronix,&nbsp;Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">48 Discovery, Suite&nbsp;250&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Irvine, California 92618&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Corporate Secretary&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: dgallagher@lantronix.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">with a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">O&rsquo;Melveny&nbsp;&amp; Myers LLP&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">610 Newport Center Drive&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">17<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>th</SUP></FONT>
Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Newport Beach, CA 92660&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Andor Terner&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: aterner@omm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If to the Reporting Persons:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Chain of Lakes Investment Fund, LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">2600 Eagan Woods Dr.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Suite&nbsp;350&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Eagan, MN, 55121.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Timothy O&rsquo;Connell</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing
Law; Jurisdiction; Jury Waiver</U></B></FONT>. This Agreement, and any disputes arising out of or related to this Agreement (whether for
breach of contract, tortious conduct or otherwise), shall be governed by, and construed in accordance with, the laws of the State of Delaware,
without giving effect to its conflict of laws principles. The Parties agree that exclusive jurisdiction and venue for any Legal Proceeding
arising out of or related to this Agreement shall exclusively lie in the Court of Chancery of the State of Delaware or, if such court
does not have subject matter jurisdiction, the Superior Court of the State of Delaware or, if jurisdiction is vested exclusively in the
Federal courts of the United States, the Federal courts of the United States sitting in the State of Delaware, and any appellate court
from any such state or Federal court. Each Party waives any objection it may now or hereafter have to the laying of venue of any such
Legal Proceeding in any such court, and irrevocably submits to personal jurisdiction in any such court in any such Legal Proceeding and
hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any court that any such Legal Proceeding brought
in any such court has been brought in any inconvenient forum. Each Party irrevocably consents to accept service of process in any such
Legal Proceeding by first class certified or registered mail, postage prepaid, return receipt requested, addressed to it at the address
set forth in <U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10</U>. Nothing contained herein shall be deemed to affect the right of any Party to serve process in any
manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF
OR RELATED TO THIS AGREEMENT. Each of the Parties irrevocably agrees that, subject to any available appeal rights, any decision, order,
or judgment issued by such above named courts shall be binding and enforceable, and irrevocably agrees to abide by any such decision,
order, or judgment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specific
Performance</U></B></FONT>. Each Party to this Agreement acknowledges and agrees that the other Parties would be irreparably injured by
an actual breach of this Agreement by the first- mentioned Party or its Representatives and that monetary remedies would be inadequate
to protect the Parties against any actual or threatened breach or continuation of any breach of this Agreement. Without prejudice to any
other rights and remedies otherwise available to the Parties under this Agreement, each Party shall be entitled to seek equitable relief
by way of injunction or otherwise and specific performance of the provisions hereof without the necessity of posting a bond or other security,
if any of the other Parties or any of their respective Representatives breach or threaten to breach any provision of this Agreement. Such
remedy shall not be deemed to be the exclusive remedy for a breach of this Agreement but shall be in addition to all other remedies available
at law or equity to the non-breaching Party(ies).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
Definitions and Interpretations</U></B></FONT>. As used in this Agreement: (a)&nbsp;the terms &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Affiliate</B>&rdquo; and &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Associate</B>&rdquo;
(and any plurals thereof)&nbsp;have the meanings ascribed to such terms under Rule&nbsp;12b-2 promulgated by the SEC under the Exchange
Act and shall include all persons or entities that at any time prior to the Termination Date become Affiliates or Associates of any applicable
person or entity referred to in this Agreement; provided, however, that the term &ldquo;Associate&rdquo; shall refer only to Associates
controlled by the Company or any of the Reporting Persons, as applicable, and &ldquo;Affiliates&rdquo; of a person shall not include any
entity, solely by reason of the fact that one or more of such person&rsquo;s employees or principals serves as a member of its board of
directors or similar governing body, unless such person otherwise controls such entity (as the term &ldquo;control&rdquo; is defined in
Rule&nbsp;12b-2 promulgated by the SEC under the Exchange Act); provided, further, that, for purposes of this Agreement, each of the Reporting
Persons shall not be an Affiliate or Associate of the Company and the Company shall not be an Affiliate or Associate of any of the Reporting
Persons; (b)&nbsp;the terms &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">beneficial ownership</B>,&rdquo; &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">group</B>,&rdquo; &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">participant</B>,&rdquo; &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">person</B>,&rdquo;
&ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">proxy</B>&rdquo; and &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">solicitation</B>&rdquo; (and any plurals or variations thereof) have the meanings ascribed to
such terms under the Exchange Act, provided, that the meaning of &ldquo;solicitation&rdquo; shall be without regard to the exclusions
set forth in Rules&nbsp;14a-1(l)(2)(iv)&nbsp;and 14a-2 under the Exchange Act as in effect as of the date of this Agreement; (c)&nbsp;the
term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Day</B>&rdquo; means any day that is not a Saturday, Sunday or other day on which commercial banks in the State
of New York are authorized or obligated to be closed by applicable law; (d)&nbsp;the term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange Act</B>&rdquo; means the
Securities Exchange Act of 1934, as amended, and the rules&nbsp;and regulations promulgated thereunder; (e)&nbsp;the term &ldquo;Extraordinary
Transaction&rdquo; means any tender offer, exchange offer, merger, consolidation, acquisition, business combination, sale, recapitalization,
restructuring, or other transaction with a Third Party that, in each case, results in a change in control of the Company or the sale,
lease or exchange of all or substantially all of its property and assets, including its goodwill and its corporate franchises; (f)&nbsp;the
term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representatives</B>&rdquo; of a person means (i)&nbsp;such person&rsquo;s Affiliates and Associates and (ii)&nbsp;such
person&rsquo;s Affiliates and Associates and their respective directors, officers, employees, partners, members, managers, consultants,
legal or other advisors, agents and other representatives acting in a capacity on behalf of, in concert with or at the direction of such
person or its Affiliates or Associates; (g)&nbsp;the term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC</B>&rdquo; means the U.S. Securities and Exchange Commission;
(h)&nbsp;the term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Meeting</B>&rdquo; means each annual or special meeting of stockholders of the Company, or any
action by consent in lieu of a meeting of the Company&rsquo;s stockholders, and any adjournment, postponement, rescheduling or continuation
thereof; (i)&nbsp;the term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third Party</B>&rdquo; refers to any person that is not a Party to this Agreement or an Affiliate
or Associate thereof, a member of the Board, a director or officer of the Company, Chain of Lakes or other of the Reporting Persons, or
legal counsel to any Party to this Agreement; and (j)&nbsp;the term &ldquo;<B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting Securities</B>&rdquo; shall mean the Common Stock
and any other securities of the Company entitled to vote in the election of directors. In this Agreement, unless a clear contrary intention
appears, (i)&nbsp;the word &ldquo;including&rdquo; (in its various forms)&nbsp;means &ldquo;including, without limitation,&rdquo; (ii)&nbsp;the
words &ldquo;hereunder,&rdquo; &ldquo;hereof,&rdquo; &ldquo;hereto&rdquo; and words of similar import are references in this Agreement
as a whole and not to any particular provision of this Agreement, (iii)&nbsp;the word &ldquo;or&rdquo; is not exclusive, (iv)&nbsp;references
to &ldquo;Sections&rdquo; in this Agreement are references to Sections of this Agreement unless otherwise indicated, (v)&nbsp;whenever
the context requires, the masculine gender shall include the feminine and neuter genders, and (vi)&nbsp;all references to &ldquo;days&rdquo;
shall be to calendar days unless otherwise indicated as a &ldquo;Business Day.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miscellaneous</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Agreement, including all exhibits and schedules
hereto, contains the entire agreement between the Parties and supersedes all other prior agreements and understandings, both written and
oral, between the Parties with respect to the subject matter hereof.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except as otherwise expressly provided in this
Agreement, this Agreement is solely for the benefit of the Parties and is not enforceable by any other persons.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Agreement shall not be assignable by operation
of law or otherwise by a Party without the consent of the other Parties. Any purported assignment without such consent is void <I STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ab initio</I>.
Subject to the foregoing sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by and against the
permitted successors and assigns of each Party.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither the failure nor any delay by a Party
in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.
It is hereby stipulated and declared to be the intention of the Parties that the Parties would have executed the remaining terms, provisions,
covenants and restrictions without including any of such which may be hereafter declared invalid, void or unenforceable. In addition,
the Parties agree to use their reasonable best efforts to agree upon and substitute a valid and enforceable term, provision, covenant
or restriction for any of such that is held invalid, void or unenforceable by a court of competent jurisdiction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any amendment or modification of the terms and
conditions set forth herein or any waiver of such terms and conditions must be agreed to in a writing signed by each Party.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Agreement may be executed in one or more
textually identical counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
agreement. Signatures to this Agreement transmitted by facsimile transmission, by electronic mail in &ldquo;portable document format&rdquo;
(&ldquo;.pdf&rdquo;) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document,
shall have the same effect as physical delivery of the paper document bearing the original signature.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each Party hereto shall bear its own costs and
expenses (including attorneys&rsquo; fees)&nbsp;incurred in connection with this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each of the Parties acknowledges that it has
been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it
has executed this Agreement with the advice of such counsel. Each Party and its counsel cooperated and participated in the drafting and
preparation of this Agreement, and any and all drafts relating thereto exchanged among the Parties will be deemed the work product of
all of the Parties and may not be construed against any Party by reason of its drafting or preparation. Accordingly, any rule&nbsp;of
law or any legal decision that would require interpretation of any ambiguities in this Agreement against any Party that drafted or prepared
it is of no application and is hereby expressly waived by each of the Parties, and any controversy over interpretations of this Agreement
will be decided without regard to events of drafting or preparation.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The headings set forth in this Agreement are
for convenience of reference purposes only and will not affect or be deemed to affect in any way the meaning or interpretation of this
Agreement or any term or provision of this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signature Pages&nbsp;Follow]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, each of the Parties has executed
this Agreement, or caused the same to be executed by its duly authorized representative, as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">THE COMPANY:</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">LANTRONIX,&nbsp;INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%; text-align: left">/s/Saleel Awsare</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Saleel Awsare</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">President and Chief Executive Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Signatures continue on next page]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Chain of Lakes Investment Fund, LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%; text-align: left">/s/ Christopher B. Woodruff</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Christopher B. Woodruff</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">President</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Haluk L. Bayraktar</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">/s/ Haluk L. Bayraktar</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Haluk L. Bayraktar</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Individual</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Emre Aciksoz</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">/s/ Emre Aciksoz</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Emre Aciksoz</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Individual</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Omitted:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exhibit&nbsp;A - Company Press Release</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2519491d1_ex2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt inherit; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Exhibit&nbsp;2</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE OF TRANSACTIONS IN SHARES&nbsp;SINCE
FILING ORIGINAL SCHEDULE 13D</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth all transactions in the Shares effected
since the filing of the Original Schedule 13D on June&nbsp;2, 2025 by the Reporting Persons. All such transactions were effected in the
open market and the price per share includes commissions. The Price Per Share ($) is a weighted average price.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade Date</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reporting Person</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Type</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Price Per Share ($)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/5/2025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haluk L. Bayraktar</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bought</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,548</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.32</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/6/2025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haluk L. Bayraktar</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bought</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,307</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.30</FONT></TD></TR>
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