<SEC-DOCUMENT>0001213900-23-035993.txt : 20230503
<SEC-HEADER>0001213900-23-035993.hdr.sgml : 20230503
<ACCEPTANCE-DATETIME>20230503162150
ACCESSION NUMBER:		0001213900-23-035993
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		13
FILED AS OF DATE:		20230503
DATE AS OF CHANGE:		20230503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05703
		FILM NUMBER:		23884352

	BUSINESS ADDRESS:	
		STREET 1:		120 WALL STREET
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-644-2400

	MAIL ADDRESS:	
		STREET 1:		120 WALL STREET
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>ea177556-8k_siebert.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CURRENT
REPORT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to Section 13 or 15(d) of the</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of Report (Date of earliest event reported): April 27, 2023</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Siebert
Financial Corp.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of registrant as specified in its charter)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
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    York</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0-5703</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11-1796714</B></FONT></TD></TR>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
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 of&#160;incorporation)</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission
    File Number)</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS
    Employer <BR>
Identification Number)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><B>535
    Fifth Avenue</B><B>, 4<SUP>th</SUP> Floor</B><B>,
    New York</B><B>, NY</B></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><B>10017</B></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&#8217;s
telephone number, including area code: <B>(212) 644-2400</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Former name or former address,
if changed since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
communications pursuant to Rule 425 under the Securities Act</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9746;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered pursuant to Section 12(b) of the Act:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
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    of each class</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 2%; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trading
    Symbol(s)</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 2%; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 2.2pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
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    <TD>&#160;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 2.2pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIEB</FONT></TD>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 2.2pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
1.01 Entry into a Material Definitive Agreement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">On
April 27, 2023, Siebert Financial Corp., a New York corporation (the &#8220;Company&#8221;), announced that it entered into an agreement
to sell newly issued shares of the Company&#8217;s Common Stock, par value $0.01 per share (the &#8220;Common Stock&#8221;) to Kakaopay
Corporation (&#8220;Kakaopay&#8221;), a company established under the Laws of the Republic of Korea and a fintech subsidiary of Korean-based
conglomerate Kakao Corp.</FONT></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">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock
Purchase Agreements</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">On
April 27, 2023, the Company entered into a Stock Purchase Agreement with Kakaopay (the &#8220;First Tranche Stock Purchase Agreement&#8221;),
pursuant to which the Company will issue and sell to Kakaopay 8,075,607 shares of Common Stock (the &#8220;First Tranche Shares&#8221;,
and such transaction, the &#8220;First Tranche&#8221;) at a per share price of Two Dollars Fifteen Cents ($2.15), which will represent
19.9% of the outstanding equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche
Shares).</FONT></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">&#160;</FONT></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">Concurrent
with the execution of the First Tranche Stock Purchase Agreement, the Company and Kakaopay entered into a second Stock Purchase Agreement
(the &#8220;Second Tranche Stock Purchase Agreement&#8221;, and together with the First Tranche Stock Purchase Agreement, the &#8220;Stock
Purchase Agreements&#8221;), pursuant to which the Company will issue and sell to Kakaopay an additional 25,756,470 shares of Common
Stock (the &#8220;Second Tranche Shares&#8221;, and such transaction, the &#8220;Second Tranche&#8221;) at a per share price of Two Dollars
Thirty Five Cents ($2.35), so that Kakaopay will own 51% of the outstanding equity securities of the Company on a fully diluted basis
(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares).</FONT></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">&#160;</FONT></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">The
consummation of each of the First Tranche and the Second Tranche is subject to a number of conditions, including among others, (i) the
listing by the Company of the shares of Common Stock issuable in the First Tranche and the Second Tranche, respectively, on the Nasdaq
Capital Market, (ii) the accuracy of certain representations and warranties as of the closing of the First Tranche and Second Tranche,
respectively, (iii) the absence of any material adverse effect having occurred between April 27, 2023 and the closing of the First Tranche
and the Second Tranche, respectively, and (iv) the performance by each of Kakaopay and the Company of all covenants, agreements and obligations
required to be performed by each party prior to the closing of the First Tranche and Second Tranche, respectively.</FONT></P>

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<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">The
consummation of the First Tranche is further subject to specific conditions. The conditions of Kakaopay&#8217;s obligation to close the
First Tranche, includes among others, the filing by the Company of the notice of the change in ownership and control of Park Wilshire
(contemplated by the First Tranche Stock Purchase Agreement) with the Texas Department of Insurance. The approval of the Company&#8217;s stockholders
is not required to close the First Tranche.</FONT></P>

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<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">The
consummation of the Second Tranche is also subject to a number of specific conditions. The conditions of Kakaopay&#8217;s obligation
to close the Second Tranche, includes among others, (i) the affirmative vote of a majority of the outstanding shares of Common Stock
and the affirmative vote of the holders of a majority of the outstanding shares of Common Stock not beneficially owned, directly or indirectly,
by the Gebbia Stockholders, Kakaopay or any of their respective affiliates (together, the &#8220;Requisite Stockholder Approval&#8221;),
(ii) approval by FINRA, (iii) favorable completion of the review by the Committee on Foreign Investment in the United States (&#8220;CFIUS&#8221;),
(iv) certain performance conditions relating to order execution and the execution of employment and consulting agreements for key personnel
of the Company and the Company&#8217;s registered broker-dealer subsidiary, Muriel Siebert &amp; Co., Inc. (&#8220;Muriel Siebert &amp;
Co.&#8221;) and (v) the approvals in connection to the filing of an overseas direct investment report as required under the Foreign Exchange
Transactions Act of the Republic of Korea, and, if applicable in accordance with applicable law, any antitrust report or filing with
the Korea Fair Trade Commission shall have been obtained or provided.</FONT></P>

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<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">For
the avoidance of doubt, the terms of the Stock Purchase Agreements contemplate the possibility that the First Tranche, but not the Second
Tranche, is consummated.</FONT></P>

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<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">The
Stock Purchase Agreements and the transactions contemplated thereby (the &#8220;Transactions&#8221;) were unanimously approved by the
Company&#8217;s board of directors (the &#8220;Board&#8221;) based upon the unanimous recommendation of a special committee of independent
directors (the &#8220;Special Committee&#8221;). The Company agreed that it will not solicit alternative proposals. However, the Company
(acting upon the recommendation of the Special Committee) or the Special Committee, subject to certain conditions, may respond to an
unsolicited Alternative Proposal (as defined below) and enter into an agreement for a Superior Proposal (as defined below and such agreement,
an &#8220;Alternative Acquisition Agreement&#8221;) and terminate the Stock Purchase Agreement only if the Board (acting on the recommendation
of the Special Committee) or the Special Committee, in good faith, after consultation with its financial advisor and its outside legal
counsel, determines (x) that a bona fide, written and unsolicited Alternative Proposal constitutes a Superior Proposal and (y) that failure
to enter into an Alternative Acquisition Agreement and terminate the Second Tranche Stock Purchase Agreement pursuant to its terms could
be inconsistent with the directors&#8217; fiduciary duties under applicable law; provided that the Company notifies Kakaopay in writing
that the Board (acting on the recommendation of the Special Committee) or the Special Committee has made the determinations provided
in the foregoing clause (x) and (y) ten (10) calendar days (the &#8220;Company Notice Period&#8221;) prior to terminating the Second
Tranche Stock Purchase Agreement or changing its recommendation to stockholders to approve the Second Tranche Stock Purchase Agreement.
A &#8220;Superior Proposal&#8221; means a bona fide, written and unsolicited Alternative Proposal involving (i) assets that generate
more than fifty percent (50%) of the consolidated total revenues of the Company and its subsidiaries, taken as a whole, (ii) assets that
constitute more than fifty percent (50%) of the consolidated total assets of the Company and its subsidiaries, taken as a whole, or (iii)
more than fifty percent (50%) of the total voting power of the equity securities of the Company, in each case, that the Board (after
consultation with outside legal counsel and an independent financial advisor) reasonably determines, in good faith, would, if consummated,
result in a transaction that is more favorable to the stockholders of the Company than the Transactions after taking into account all
such factors and matters deemed relevant in good faith by the Board, including legal, financial (including the financing terms of any
such proposal), regulatory, timing or other aspects of such proposal and the Transactions. An &#8220;Alternative Proposal&#8221; means
any proposal or offer relating to (i) a merger, consolidation, share exchange or business combination involving the Company or any of
its Subsidiaries, (ii) a sale, lease, exchange, mortgage, transfer or other disposition, in a single transaction or series of related
transactions, of ten percent (10%) or more of the assets of the Company and its subsidiaries, taken as a whole, (iii) a purchase or sale
of shares of capital stock or other securities, in a single transaction or a series of related transactions, representing ten percent
(10%) or more of the voting power of the capital stock of Company or any of its subsidiaries, including by way of a tender offer or exchange
offer, (iv) a reorganization, recapitalization, liquidation or dissolution of the Company or any of its subsidiaries or (v) any other
transaction having a similar effect to those described in clauses (i) - (iv) or that would prevent or materially impede or delay the
consummation of the closing of either the first or second stock purchase, in each case, other than the Transactions.</FONT></P>

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<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">Neither
the Special Committee nor the Board shall withdraw, modify or amend, or propose to withdraw the Board&#8217;s recommendation to the Company
stockholders that they vote in favor of approval of the Second Tranche (the &#8220;Board Recommendation&#8221;) in any manner adverse
to Kakaopay unless the Company terminates the Second Tranche Stock Purchase Agreement as provided in the Second Tranche Stock Purchase
Agreement and described below. During the Company Notice Period (which may be extended by mutual written consent between the parties),
the Company shall negotiate with Kakaopay in good faith in respect of adjustments in the terms and conditions of the Second Tranche Stock
Purchase Agreement such that such Alternative Proposal would cease to constitute a Superior Proposal, if the Company, in its sole discretion,
proposes to make such adjustments (it being agreed that in the event that, after commencement of the Company Notice Period, there is
any revision to the terms of a superior proposal, including, any revision in price, the Company Notice Period shall be extended by four
(4) Business Days (it being understood that there may be multiple extensions)). If, following the end of such Company Notice Period (as
extended pursuant to the preceding sentence), the Board determines in good faith, after consulting with outside financial advisor and
legal counsel, that such Alternative Proposal continues to constitute a Superior Proposal after taking into account any adjustments made
by Kakaopay during the Company Notice Period upon the terms and subject to the conditions of the Second Tranche Stock Purchase Agreement,
provided that the Company shall have complied with its obligations under such agreement, and the Board shall terminate the Second Tranche
Stock Purchase Agreement pursuant to its terms to enter into an agreement relating to such Superior Proposal.</FONT></P>

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<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">The
Stock Purchase Agreements provide for the termination of such agreements under certain circumstances, including among others, (i) by
mutual consent of the parties, (ii) by either party upon the outside date of each respective agreement, and (iii) by either party for
breaches by the other party of certain representations and warranties.</FONT></P>

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<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">The
Second Tranche Stock Purchase Agreement can also be terminated under certain circumstances, including among others, (i) by either party
if the First Tranche Stock Purchase Agreement has been terminated by its own terms, (ii) by either party if certain closing conditions
have not been satisfied, including those relating to CFIUS and obtaining the Requisite Stockholder Approval, (iii) by Kakaopay if the
Board (acting upon the recommendation of the Special Committee) fails to make, withdraws, modified or amends in any manner adverse to
Kakaopay, the Board Recommendation, and (iv) by the Company if the Board has authorized the Company to enter into an Alternative Acquisition
Agreement. The Second Tranche Stock Purchase Agreement also provides that the Company shall pay to Kakaopay a termination fee of $5 million
if the Second Tranche Stock Purchase Agreement is terminated under certain circumstances, including among others, pursuant to clauses
(iii) and (iv) above.</FONT></P>

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<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">The
foregoing descriptions of the First Tranche Stock Purchase Agreement and Second Tranche Stock Purchase Agreement are not complete and
are qualified in their entirety by reference to the First Tranche Stock Purchase Agreement and Second Tranche Stock Purchase Agreement,
copies of which are attached to this Current Report on Form 8-K as Exhibits 10.28 and 10.29 and incorporated herein by reference.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Foreign
Broker-Dealer Fee Sharing Agreement</I></B></FONT></P>

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<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">Concurrent
with the execution of the Stock Purchase Agreements, Muriel Siebert &amp; Co., Inc. and Kakaopay&#8217;s registered brokerage, Kakaopay
Securities Corp., a corporation organized and existing under the laws of South Korea, entered into a Foreign Broker-Dealer Fee Sharing
Agreement (the &#8220;Foreign Broker-Dealer Fee Sharing Agreement&#8221;), establishing the terms relating to the brokerage, trading,
sharing of revenues, and similar matters.</FONT></P>

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<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">The
foregoing description of the Foreign Broker-Dealer Fee Sharing Agreement is not complete and is qualified in its entirety by reference
to the Broker-Dealer Fee Sharing Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.30 and incorporated
herein by reference.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Support
and Restrictive Covenant Agreement</I></B></FONT></P>

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<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">Concurrent
with the execution of the Stock Purchase Agreements, Company Directors Gloria Gebbia and John J. Gebbia and certain persons who control
in excess of 50% (in the aggregate) of the voting securities of the Company (collectively, the &#8220;Gebbia Stockholders&#8221;), each
entered into a Support and Restrictive Covenant Agreement (the &#8220;Support and Restrictive Covenant Agreement&#8221;), pursuant to
which the Gebbia Stockholders agreed to vote in favor of the Stock Purchase Agreements and against any transaction that could reasonably
result in the failure or interference with the transactions contemplated by the Stock Purchase Agreements and the Transactions.</FONT></P>

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<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">The
Gebbia Stockholders also agreed that until earlier of the closing of the Second Tranche or the termination of the Second Tranche Stock
Purchase Agreement (the &#8220;Restricted Period&#8221;), the Gebbia Stockholders would not, directly or indirectly, (i) transfer or
otherwise dispose of their shares, or enter into any undertakings with respect to such transfer or disposal, subject to certain limited
exceptions; (ii) engage, or resolve or agree to engage, in various activities that would reasonably be expected to lead to any Alternative
Proposal. The Gebbia Stockholders also agreed that during the three year-period following consummation of the First Tranche (but in no
event surviving the termination of the Second Tranche Stock Purchase Agreement), they (i) would not solicit any employee or customer
or interfere with business relationships between the Company (or its subsidiaries) and any of its customers or suppliers; provided, however,
such non-solicitation restriction does not apply to soliciting customers on behalf of two companies in which certain Gebbia Stockholders
have an interest or to real estate ventures (the &#8220;Permitted Ventures&#8221;); and (ii) would not compete or assist any person that
engages in the same industry as the Company or its affiliates or otherwise competes against Kakaopay of its affiliates anywhere in the
world; provided, however, that such non-competition restriction does not apply to the Permitted Ventures nor to the business of RISE
Financial Services, LLC. The Gebbia Stockholders and Kakaopay also mutually agreed that they shall not make any disparaging statement
about one another.</FONT></P>

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<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">The
foregoing description of the Support and Restrictive Covenant Agreement is not complete and is qualified in its entirety by reference
to the Support and Restrictive Covenant Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.31 through
Exhibit 10.37 and incorporated herein by reference.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stockholders&#8217;
Agreement</I></B></FONT></P>

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<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">Concurrent
with the consummation of the First Tranche, the Company, Kakaopay, and the Gebbia Stockholders shall enter into a Stockholders&#8217;
Agreement (the &#8220;Stockholders&#8217; Agreement&#8221;) whereby the parties agree that the Board will consist of seven directors.
The parties agree that following the consummation of the First Tranche, one of the seven directors will be designated by Kakaopay, and
six (the &#8220;Gebbia Directors&#8221;) will be nominated by the Gebbia Stockholders, of whom three shall be independent directors.
The parties agree that following the consummation of the Second Tranche three of the Gebbia Directors will resign and be replaced by
three individuals designated by Kakaopay, such that the composition of the Board will be: four nominees designated by Kakaopay, of whom
one shall be an independent director, and three designated by the Gebbia Stockholders, two of whom shall be independent directors and
one of whom shall be an &#8220;audit committee financial expert&#8221; within the meaning of Sections 406 and 407 of the Sarbanes-Oxley
Act of 2002. The Stockholders&#8217; Agreement also provides for designation of directors in the event that the Gebbia Stockholders or
Kakaopay reduce their shareholdings in the Company. The Stockholders&#8217; Agreement also includes provisions to reallocate who among
Kakaopay and the Gebbia Stockholders are entitled to designate directors in the event that the ownership percentages of Kakaopay or the
Gebbia Stockholders change.</FONT></P>

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<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">The
Stockholders&#8217; Agreement provides further that for a period of one year following the consummation of the Second Tranche (the &#8220;Transition
Period&#8221;), the Company, Kakaopay and the Gebbia Stockholders agree to cause the Board and management of the Company to implement
the Company business plan as such has been agreed to by the parties, and to use the investment proceeds as documented under the Stockholders&#8217;
Agreement. The parties further agree that various specified events require the prior written consent of at least two/thirds of the Board,
including at least one director designated by Kakaopay and one director designated by the Gebbia Stockholders.</FONT></P>

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<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">Pursuant
to the Stockholders&#8217; Agreement, from the period commencing with the consummation of the First Tranche and continuing until such
time as either the Gebbia Stockholders, in the aggregate, or Kakaopay, hold less than five percent of the issued and outstanding Common
Stock on a fully-diluted basis, Kakaopay and each Gebbia Stockholder agree to vote all shares of Common Stock held by such stockholder
to elect directors nominated by Kakaopay and Gebbia Stockholders.</FONT></P>

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<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">The
Stockholders&#8217; Agreement also restricts each of Kakaopay and the Gebbia Stockholders (in each case, an &#8220;Offering Stockholder&#8221;)
from transferring any shares of Common Stock except in compliance with the terms of the Stockholders&#8217; Agreement, which provides
the Company a right of first refusal if Kakaopay or any of the Gebbia Stockholders desires to accept a bona fide offer to transfer all
or any portion of its or their shares, provided that the Offering Stockholder may transfer shares of Common Stock representing up to
5% of the outstanding shares of Common Stock as of the date of the agreement without triggering the Company&#8217;s right of first refusal.
After the Offering Stockholder allows the Company to exercise its right of first refusal to purchase the shares offered by the Offering
Stockholder, and in the event that the Company has not exercised its right to purchase all or a portion of the offered stock, the other
party to the Stockholders&#8217; Agreement shall have the right of second refusal to purchase the offered shares (or any portion thereof).</FONT></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">&#160;</FONT></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">The
foregoing description of the Stockholders&#8217; Agreement is not complete and is qualified in its entirety by reference to the Stockholders&#8217;
Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.38 and incorporated herein by reference.</FONT></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">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Registration
Rights and Lock-Up Agreement</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">Concurrent
with the consummation of the First Tranche, the Company and Kakaopay shall enter into a Registration Rights Agreement (the &#8220;Registration
Rights Agreement&#8221;) whereby the Company agrees to grant Kakaopay certain registration rights with respect
to certain securities of the Company held by Kakaopay. In exchange for such registration rights, the parties agree to a lock-up period
ending the earlier of the outside date pursuant to the Second Tranche Stock Purchase Agreement and the date that such agreement is terminated.</FONT></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">&#160;</FONT></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">The
foregoing description of the Registration Rights Agreement is not complete and is qualified in its entirety by reference to the Registration
Rights Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.39 and incorporated herein by reference.</FONT></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">&#160;</FONT></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">The
representations, warranties and covenants of each party set forth in the aforementioned agreements have been made and/or will be made
only for purposes of, and were and are solely for the benefit of the parties to, such agreements, may be subject to limitations agreed
upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual
risk between the parties to such agreements, instead of establishing these matters as facts, and may be subject to standards of materiality
applicable to the contracting parties that differ from those applicable to investors. In addition, certain representations and warranties
were made only as of the date of any of the aforementioned agreements or such other date as is specified therein. Moreover, information
concerning the subject matter of the representations and warranties may change after the date of any of the aforementioned agreements,
which subsequent information may or may not be fully reflected in the parties&#8217; public disclosures. Accordingly, the aforementioned
agreements have been included with this filing only to provide investors with information regarding the terms of these agreements, and
not to provide investors with any other factual information regarding the parties, their respective affiliates or their respective businesses.</FONT></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">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>No
Offer or Solicitation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">This
communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or
an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction in connection
with the Stock Purchase Agreements, the Transactions or stockholder approval or otherwise, nor shall there be any sale, issuance or transfer
of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities
for sale into the United States. No offer of securities shall be made in the United States absent registration under the Securities Act
of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.</FONT></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">&#160;</FONT></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"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Participants
in the Solicitation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">The
Company and their directors and executive officers may be deemed participants in the solicitation of proxies of the Company&#8217;s stockholders
in respect of the proposed Second Tranche Stock Purchase Agreement. The Company&#8217;s stockholders and other interested persons may
obtain more detailed information about the names and interests of these directors and officers of the Company, including, when filed
with the SEC, the Company&#8217;s proxy statement. These documents can be obtained free of charge at the SEC&#8217;s web site at www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Forward-Looking
Statements</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></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">This
Current Report on Form 8-K contains certain &#8220;forward-looking statements&#8221; within the meaning of the &#8220;safe harbor&#8221;
provisions of the Private Securities Litigation Reform Act of 1995 with respect to the proposed transactions. These forward-looking statements
generally are identified by the words such as &#8220;believe,&#8221; &#8220;project,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221;
&#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;strategy,&#8221; &#8220;future,&#8221; &#8220;opportunity,&#8221; &#8220;plan,&#8221;
&#8220;may,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would,&#8221; &#8220;will be,&#8221; &#8220;will continue,&#8221;
&#8220;will likely result&#8221; and similar expressions, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations
and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates
and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors
could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including
but not limited to: (i) the risk that the closing of the First Tranche Stock Purchase Agreement or Second Tranche Stock Purchase Agreement
may not be completed in a timely manner or at all, which may adversely affect the price of the Company&#8217;s securities; (ii) the failure
to satisfy the conditions to the closing of the First Tranche Stock Purchase Agreement or Second Tranche Stock Purchase Agreement, including
the approval of various regulators and approval by a majority-of-the-minority stockholders of the Company; (iii) the occurrence of any
event, change or other circumstance that could give rise to the termination of the First Tranche Stock Purchase Agreement or Second Tranche
Stock Purchase Agreement; (iv) the outcome of any legal proceedings that may be instituted against any of the parties to the First Tranche
Stock Purchase Agreement, Second Tranche Stock Purchase Agreement or related transaction agreements following the announcement of the
entry into the agreements; (v) the ability of the parties to recognize the benefits of the investment; the expected future market opportunities
of the Company, and (vi) those factors discussed in the Company&#8217;s filings with the SEC and that that will be contained in the definitive
Proxy Statement relating to a Special Meeting of Shareholders. You should carefully consider the foregoing factors and the other risks
and uncertainties that will be described in the &#8220;Risk Factors&#8221; section of the definitive Proxy Statement and other documents
to be filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties
that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and
while the Company may elect to update these forward-looking statements at some point in the future, they assume no obligation to update
or revise these forward-looking statements, whether as a result of new information, future events or otherwise, subject to applicable
law. The Company gives no assurance that the Company will achieve its expectations.&#160;</FONT></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">&#160;</FONT></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"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
9.01 Financial Statements and Exhibits.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
Exhibits. The following exhibit is furnished with this Form 8-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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    <TD>10.28</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-28_siebert.htm">First Tranche Stock Purchase Agreement</A></TD></TR>
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    <TD>10.29</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-29_siebert.htm">Second Tranche Stock Purchase Agreement</A></TD></TR>
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    <TD>10.31</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-31_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
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    <TD>10.32</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-32_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
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    <TD>10.33</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-33_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>10.34</TD>
    <TD>&#160;</TD>
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    <TD>10.35</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-35_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
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    <TD>10.36</TD>
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    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-36_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
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    <TD>10.37</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-37_siebert.htm">Support and Restrictive Covenant Agreement</A></TD></TR>
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    <TD>10.38</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-38_siebert.htm">Stockholders&#8217; Agreement</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>10.39</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea177556ex10-39_siebert.htm">Registration Rights and Lock-Up Agreement</A></TD></TR>
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    <TD>104</TD>
    <TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Dated: May 3, 2023</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">SIEBERT FINANCIAL CORP.</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&#160;</TD>
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  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 60%">&#160;</TD>
    <TD STYLE="text-align: justify; width: 4%">By</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 36%"> /s/ Andrew H. Reich</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: left">Andrew H. Reich Executive Vice President, Chief Operating Officer, Chief Financial Officer, Secretary and Director (Principal executive,
financial and accounting officer)</TD>
    </TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<DOCUMENT>
<TYPE>EX-10.28
<SEQUENCE>2
<FILENAME>ea177556ex10-28_siebert.htm
<DESCRIPTION>FIRST TRANCHE STOCK PURCHASE AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: transparent"><B>Exhibit 10.28</B><FONT STYLE="font-variant: small-caps"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: transparent"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: transparent"><FONT STYLE="font-variant: small-caps">Execution Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>FIRST TRANCHE
STOCK PURCHASE AGREEMENT</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; background-color: transparent"><FONT STYLE="text-transform: none">Dated
as of</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; background-color: transparent"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; background-color: transparent"><FONT STYLE="text-transform: none">April
27, 2023</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; background-color: transparent"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>By</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>and</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>Between</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>SIEBERT FINANCIAL
CORP.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>and</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><FONT STYLE="text-transform: uppercase"><B>Kakaopay
Corporation</B></FONT></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>FIRST TRANCHE
STOCK PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">THIS
FIRST TRANCHE STOCK PURCHASE AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;; certain defined terms used in this Agreement are set forth
in <U>Section 8.1</U> hereto) is made as of the 27<SUP>th</SUP> day of April, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;) by and between
Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), and Kakaopay Corporation, a company established under
the Laws of the Republic of Korea (&ldquo;<U>Purchaser</U>&rdquo; and, together with the Company, the &ldquo;<U>Parties</U>&rdquo; and,
each, a &ldquo;<U>Party</U>&rdquo;), with respect to the following.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-variant: small-caps"><B>Recitals</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A.   Purchaser
wishes to purchase from the Company and the Company wishes to issue and sell to Purchaser, in two tranches, up to a total of Thirty-Three
Million, Eight Hundred Thirty-Two Thousand, Seventy-Seven (33,832,077) shares of Common Stock, $0.01 par value per share, of the Company
(the &ldquo;<U>Common Stock</U>&rdquo;), on the terms and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">B.   Upon
the terms and subject to the conditions of this Agreement, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six Hundred
Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding equity
securities of the Company on a Fully-Diluted Basis (taking into account the issuance of the First Tranche Shares), on the terms and conditions
set forth herein (the &ldquo;<U>First Tranche</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">C.   Concurrently
with the execution of this Agreement, the Company and the Purchaser shall enter into a separate Second Tranche Stock Purchase Agreement
(the &ldquo;<U>Second Tranche Agreement</U>&rdquo;), effective as of the Effective Date, pursuant to which Purchaser shall purchase shares
of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), so to own 51% of the outstanding equity securities of the Company on
a Fully-Diluted Basis (taking into account the issuance of the First Tranche Shares and the Second Tranche Shares) on the terms and conditions
set forth therein (such purchase, the &ldquo;<U>Second Tranche</U>&rdquo;, and, together with the First Tranche and the other transactions
contemplated hereby, the &ldquo;<U>Transactions</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">D.   Concurrently
with execution of this Agreement Muriel Siebert &amp; Co., Inc., and Kakaopay Securities Corp. have executed and delivered a Foreign Broker-Dealer
Fee Sharing Agreement (the &ldquo;<U>Fee Sharing Agreement</U>&rdquo;) establishing the terms relating to the sharing of revenues, commissions,
rebates or similar matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">E.   On
March 23, 2022, the board of directors of the Company (the &ldquo;<U>Board</U>&rdquo;), formed a special committee (the &ldquo;<U>Special
Committee</U>&rdquo;) consisting of three (3) independent directors not affiliated with the Gebbias.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">F.   On
April 26, 2023, the Special Committee, after receipt of an opinion from B. Riley Financial, Inc. (&ldquo;<U>B. Riley</U>&rdquo;), to the
effect that, as of the date of such opinion, and based upon and subject to the factors and assumptions set forth therein, the consideration
to be paid by Purchaser to the Company pursuant to the Transactions, taken together, is fair, from a financial point of view, to the Company,
recommended to the Board that it would be in the best interests of the Company and its stockholders to enter into this Agreement and complete
the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent"><FONT STYLE="font-variant: small-caps">G.   </FONT>The
whole Board has reviewed and evaluated this Agreement and the Transactions and, based upon the recommendations of the Special Committee,
has determined that execution of this Agreement and consummation of the Transactions, are in the best interests of the Company and its
stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Now,
therefore, the Parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">1.   <U>Purchase
and Sale of Common Stock</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.1   <U>The
Closing</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Subject
to the terms and conditions of this Agreement, Purchaser agrees to purchase at the Closing, and the Company agrees to issue and sell to
Purchaser, the First Tranche Shares at a per share purchase price of Two Dollars Fifteen Cents ($2.15) aggregating Seventeen Million,
Three Hundred Sixty-Two Thousand, Five Hundred Fifty-Five Dollars ($17,362,555) (the aggregate purchase price to be paid pursuant to this
<U>Section 1.1(a)</U>, being hereinafter referred to as the &ldquo;<U>First Tranche Purchase Price</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   The
purchase and sale of the First Tranche Shares shall take place remotely via the exchange of documents and signatures, within five (5)
Business Days after satisfaction or waiver of the conditions set forth in <U>Article 5</U> and <U>Article 6</U> or at such other time
and place as the Company and Purchaser mutually agree upon, orally or in writing (which time and place are designated as the &ldquo;<U>Closing</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.2 <U>Deliveries
at the Closing.</U>&nbsp;At the Closing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   the
Company shall deliver executed copies of each Ancillary Agreement to which the Company is a party, including but not limited to a stockholders&rsquo;
agreement in substantially the form attached hereto as <U>Exhibit A</U> (the &ldquo;<U>Stockholders Agreement</U>&rdquo;) and a registration
rights and lock-up agreement in substantially the form attached hereto as <U>Exhibit B</U> (the &ldquo;<U>Registration Rights Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Purchaser
shall deliver, or cause KSC to deliver, executed copies of each Ancillary Agreement to which Purchaser or KSC is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   the
Company and Purchaser shall deliver the certificates required by <U>Section 5.3</U> and <U>Section 6.3</U>, respectively;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   the
Company shall deliver to Purchaser a certificate (which, for all purposes in this Agreement, may be book-entry security entitlements)
representing the First Tranche Shares; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Purchaser
shall deliver the First Tranche Purchase Price by wire transfer of immediately available funds to a bank account designated by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.3   <U>Withholding</U>.
Each Party and any other Person with a withholding obligation under applicable Law shall be entitled to deduct and withhold from amounts
otherwise payable pursuant to this Agreement any amounts as are required to be withheld or deducted with respect to such payment under
the Code or any other applicable Law. To the extent that amounts are so deducted or withheld and remitted to the appropriate Governmental
Authority, such amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such
deduction or withholding was made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">2
<U>Representations and Warranties of the Company</U>. The Company hereby represents and warrants to Purchaser that, (a) except as set
forth on the disclosure schedule delivered by the Company to Purchaser concurrently with the execution and delivery of this Agreement
(the &ldquo;<U>Company Disclosure Schedule</U>&rdquo;) (it being agreed that disclosure of any item in any section of the Company Disclosure
Schedule shall be deemed disclosed with respect to any other section or subsection of this Agreement and the Disclosure Schedule to the
extent that the relevance thereof is reasonably apparent on its face), which exceptions shall be deemed to be part of the representations
and warranties made hereunder, or (b) as may be disclosed in the Company SEC Reports filed with or furnished to the SEC prior to the
date of this Agreement (but excluding any forward-looking disclosures set forth in any risk factor section or in the &ldquo;forward-looking
statements&rdquo; section of any Company SEC Report that are non-specific and cautionary in nature) the following representations and
warranties are true and complete as of the date of this Agreement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.1 <U>Organization,
Good Standing, Corporate Power and Qualification</U><FONT STYLE="font-size: 10pt"></FONT>. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of New York and has all requisite corporate power and
authority to carry on its business as now conducted and as presently proposed to be conducted. The Company is duly licensed or
qualified to do business and in good standing in each jurisdiction in which the nature of the business conducted by it or the
character or location of the properties and assets owned, leased or operated by it makes such licensing, qualification or standing
necessary, except where the failure to be so licensed or qualified or to be in good standing would not or reasonably be expected to,
either individually or in the aggregate, materially impair the ability of the Company to conduct the Business as it is currently
conducted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.2 <U>Capitalization</U><FONT STYLE="font-size: 10pt"></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
authorized capital stock of the Company consists of 100,000,000 shares of Common Stock of which 32,505,329 shares are issued and outstanding
as of the Effective Date. All of the issued and outstanding shares of the Common Stock have been duly and validly authorized, are fully
paid and nonassessable and not subject to any preemptive rights. There (a) are no outstanding or authorized options, warrants, or other
rights, agreements, arrangements, commitments or any obligation of the Company to issue or sell any of its shares of Common Stock; and
(b) is no obligation of the Company to purchase, redeem or otherwise acquire any shares of its capital stock or any interest therein or
to pay any dividend or make any other distribution in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   All
outstanding shares of Common Stock have been issued and granted in compliance with all applicable securities laws and other applicable
Laws and were issued free and clear of all Liens other than transfer restrictions under applicable securities laws and the Company Organizational
Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
Company has not issued any options, warrants, preemptive rights, calls, convertible securities or other rights, agreements, arrangements
or commitments of any character relating to the issued or unissued capital stock of the Company or obligating the Company to issue or
sell any shares of capital stock of, or other equity interests in, the Company. Neither the Company nor any of its Subsidiaries is a party
to, or otherwise bound by, and neither the Company nor any of its Subsidiaries has granted, any equity appreciation rights, participations,
phantom equity or similar rights. The Company is not a party to any voting trusts, voting agreements, proxies, shareholder agreements
or other agreements with respect to the voting or transfer of shares of Common Stock or any of the equity interests or other securities
of the Company or any of its Subsidiaries. There are no outstanding contractual obligations of the Company to repurchase, redeem or otherwise
acquire any shares of Common Stock. There are no outstanding contractual obligations of the Company to make any investment (in the form
of a loan, capital contribution or otherwise) in any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.3
<U>Authorization; Enforceability</U><FONT STYLE="font-size: 10pt"></FONT>. The Company has all requisite power and authority to
enter into, execute, deliver and perform its obligations under this Agreement and to consummate the First Tranche. The First Tranche
and the execution, delivery and performance by the Company of this Agreement and all other agreements, transactions and actions contemplated
hereby or thereby, have been duly and validly approved and authorized by the Company and the Board in accordance with applicable Law
and the Company&rsquo;s organizational documents as currently in effect (including, without limitation, the Company&rsquo;s certificate
of incorporation and bylaws, the &ldquo;<U>Company Organizational Documents</U>&rdquo;), and do not constitute an event of default under
any Material Contract. No approval of any of the Company&rsquo;s Affiliates or related persons (including equityholders, directors, officers
and otherwise) is necessary for the Company to enter into this Agreement or to consummate the First Tranche. This Agreement, when executed
and delivered by the Company, shall constitute valid and legally binding obligations of the Company, enforceable against the Company
in accordance with its terms except (a)&nbsp;as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, or other Laws of general application relating to or affecting the enforcement of creditors&rsquo; rights generally, or (b)
as limited by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: transparent">2.4 <U>Valid
Issuance of Shares</U>. The First Tranche Shares, when issued, sold and delivered in accordance with the terms and for the
consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer
other than restrictions on transfer under this Agreement, applicable state and federal securities Laws and Liens or encumbrances
created by or imposed by Purchaser. Assuming the accuracy of the representations and warranties of Purchaser in <U>Article 3</U>,
the First Tranche Shares will be issued in compliance with all applicable Laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.5 <U>Governmental
Consents and Filings</U><FONT STYLE="font-size: 10pt"></FONT>. No consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any federal, state or local Governmental Authority is required on the part
of the Company in connection with the consummation of the First Tranche, except for (a) filing the Form BD Amendment; (b) compliance
with the rules and regulations of Nasdaq Capital Market (&ldquo;<U>Nasdaq</U>&rdquo;); (c) compliance with any applicable foreign or
state securities or &ldquo;blue sky&rdquo; Laws; (d) the TDI Filing; and (e) those as to which requisite consents, approvals,
authorizations, permits or actions or waivers thereof have been obtained or requisite filings have been made or consents or notices
have been given, and those the failure of which to make, give or obtain would not (A) have, individually or in the aggregate, a
Material Adverse Effect on the Company or (B) prevent or materially delay the consummation of the First Tranche or the
Company&rsquo;s ability to observe and perform its material obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.6   <U>Reports
and Financial Statements.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company has filed all forms, reports, statements, certificates and other documents (including all exhibits, amendments and supplements
thereto) required to be filed by it with the SEC since December 31, 2018 (all such forms, reports, statements, certificates and other
documents filed with or furnished to the SEC since December 31, 2018, with any amendments or supplements thereto, collectively, the &ldquo;<U>Company
SEC Reports</U>&rdquo;), each of which, including any financial statements or schedules included therein, as finally amended prior to
the Effective Date, complied as of their respective dates, or if amended or supplemented prior to the Effective Date, as of the date of
the last such amendment or supplement, as to form in all material respects with the applicable requirements of the Securities Act, the
Exchange Act and the Sarbanes-Oxley Act of 2002 (the &ldquo;<U>Sarbanes-Oxley Act</U>&rdquo;) and, in each case, the rules and regulations
of the SEC promulgated thereunder. None of the Company&rsquo;s Subsidiaries is required to file periodic reports with the SEC under
the Securities Act, the Exchange Act, or the Sarbanes-Oxley Act. None of the Company SEC Reports contained, when filed with the
SEC or, if amended, as of the date of such amendment, any untrue statement of a material fact or omitted to state a material fact required
to be stated or incorporated by reference therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Each
of the consolidated financial statements of the Company and its Subsidiaries included (or incorporated by reference) in the Company SEC
Reports (including the related notes and schedules, where applicable) fairly present in all material respects the results of the consolidated
operations and changes in stockholders&rsquo; equity and consolidated financial position of the Company and its Subsidiaries for the respective
fiscal periods or as of the respective dates therein set forth (subject, in the case of unaudited statements, to normal year-end adjustments
and other adjustments described therein, including the notes thereto). Each of such consolidated financial statements (including
the related notes and schedules, where applicable) complied, as of the date of filing, in all material respects with applicable accounting
requirements and with the published rules and regulations of the SEC applicable thereto and each of such financial statements (including
the related notes and schedules, where applicable) were prepared in accordance with GAAP (except, in the case of unaudited statements,
as permitted by the rules and regulations of the SEC) consistently applied during the periods involved, except in each case as indicated
in such statements or in the notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
Company has established and maintains disclosure controls and procedures and internal control over financial reporting (as such terms
are defined in paragraphs (e) and (f), respectively, of Rule 13a-15 under the Exchange Act) as required by Rule 13a-15 under the Exchange
Act. The Company&rsquo;s disclosure controls and procedures are reasonably designed to ensure that all material information required to
be disclosed by the Company in the reports that it files or furnishes under the Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the rules and forms of the SEC, and that all such material information is accumulated and communicated
to the Company&rsquo;s management as appropriate to allow timely decisions regarding required disclosure and to make the certifications
required pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.7   <U>Material
Contracts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Neither
the Company nor any of its Subsidiaries is a party to any Contract required to have been filed with the SEC by the Company as a &ldquo;material
contract&rdquo; pursuant to Item 601(b)(10) of Regulation S-K under the Securities Act that has not been so filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   <U>Section
2.7(b)</U> of the Company Disclosure Schedule lists, as of the date of this Agreement, the following types of contracts and agreements
to which the Company or any of its Subsidiaries is a party (such contracts and agreements as are required to be set forth on <U>Section
2.7(b)</U> of the Company Disclosure Schedule being the &ldquo;<U>Material Contracts</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i)   each
contract and agreement (A) with consideration paid or payable to the Company or any of its Subsidiaries of more than $100,000, in the
aggregate, and (B) with suppliers to the Company or any of its Subsidiaries for expenditures paid or payable by the Company or any of
its Subsidiaries of more than $100,000, in the aggregate, in each case over the twelve (12)-month period ending December 31, 2022;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii)   each
Advisory Contract or other investment advisory, asset management or similar agreements entered into by the Company and its Subsidiaries,
providing for revenues in excess of $100,000 per annum;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iii)   all
broker, distributor, dealer, manufacturer&rsquo;s representative, franchise, agency, sales promotion, market research, marketing consulting
and advertising contracts and agreements to which the Company or any of its Subsidiaries is a party that are material to the business
of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iv)   all
Service Agreements and management contracts, including any contracts involving the payment of royalties or other amounts calculated based
upon the revenues or income of the Company or any of its Subsidiaries or income or revenues related to any Product of the Company or any
of its Subsidiaries to which the Company or any of its Subsidiaries is a party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(v)   all
Contracts providing for the development of any software or Intellectual Property Rights, independently or jointly, either by or for the
Company or any of its Subsidiaries (other than employee invention assignment agreements and consulting agreements with authors on the
Company&rsquo;s or any of its Subsidiaries&rsquo; standard form of agreement);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vi)   all
Contracts evidencing Indebtedness with a principal amount, or involving obligations, in excess of $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vii)   all
partnership, joint venture, property management, profit sharing, carry interest or similar Contracts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(viii)   all
Contracts with any Governmental Authority to which the Company or any of its Subsidiaries is a party, other than any Company Permits;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ix)   all
Contracts that limit, or purport to limit, the ability of the Company or any of its Subsidiaries to compete in any line of business or
with any person or entity or in any geographic area or during any period of time or to hire or retain any person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(x)   all
Contracts that result in any person or entity holding a power of attorney from the Company or any of its Subsidiaries that relates to
the Company and its Subsidiaries or their respective businesses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xi)   all
leases or master leases of personal property reasonably likely to result in annual payments of $50,000 or more in a twelve (12)-month
period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xii)   Contracts
which involve the license or grant of rights to Company Owned IP by the Company or any of its Subsidiaries, but excluding any nonexclusive
licenses (or sublicenses) of Company Owned IP granted to the Company&rsquo;s clients in the ordinary course of business that are substantially
in the same form as the Company&rsquo;s or its Subsidiaries&rsquo; standard form Advisory Contracts as have been provided to Purchaser;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xiii)   any
&ldquo;material contract&rdquo; (as such term is defined in Item 601(b)(10) of Regulation S-K under the Securities Act) or any other contract
that is material to the Company and its Subsidiaries, taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   (i)
Each Material Contract is a legal, valid and binding obligation of the Company or any of its Subsidiaries party thereto and, to the Knowledge
of the Company, is enforceable in accordance with its terms against the other parties thereto, there are no grounds for termination, rescission
or repudiation of any Material Contract, and neither the Company nor any of its Subsidiaries is in material breach or violation of, or
material default under, any Material Contract nor has any Material Contract been canceled by the other party; (ii) to the Knowledge of
the Company, no other party is in material breach or violation of, or material default under, any Material Contract; and (iii) the Company
or any of its Subsidiaries have not received any written, or to the Knowledge of the Company, oral claim of default under any such Material
Contract. The Company has furnished or made available to Purchaser true and complete copies of all Material Contracts without redaction,
including amendments thereto that are material in nature. The Company is not renegotiating or offering to renegotiate any Contract with
a Top Customer in a way that would be materially adverse to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.8   <U>Taxes.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company,
the Company and its Subsidiaries have timely: (i) filed (taking into account any valid extension of time within which to file) with
the appropriate Taxing Authority all Tax Returns required to have been filed by the Company or any of its Subsidiaries and all such Tax
Returns are true, correct and complete; and (ii) paid all Taxes required to be paid by any of them, except to the extent adequate reserves
in accordance with GAAP for such Taxes are reflected on the financial statements of the Company included in the Company SEC Reports. The
financial statements of the Company included in the Company SEC Reports reflect adequate reserves in accordance with GAAP for Taxes of
the Company or any Company Subsidiary as of the date thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company,
the Company and its Subsidiaries have: (i) timely paid, deducted, withheld and collected all amounts required to be paid, deducted, withheld
or collected by any of them with respect to any payment owing to, or received from, their employees, creditors, independent contractors,
customers and other third parties (and have timely paid over any amounts so withheld, deducted or collected to the appropriate Governmental
Authority); and (ii) otherwise complied with all applicable Laws relating to the payment, withholding, collection and remittance of Taxes
(including information reporting requirements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company:
(i) neither the Company nor any of its Subsidiaries is the subject of any currently pending claim, litigation, audit, examination, investigation,
or other proceeding with respect to Taxes; and (ii) there is no deficiency for Taxes that has been assessed by any Taxing Authority against
the Company or any of its Subsidiaries. Neither the Company nor any of its Subsidiaries has waived or extended any statute of limitations
with respect to the collection or assessment of any Taxes, which waiver or extension has not since expired. Except for Permitted
Liens, there are no Liens for Taxes on any of the assets of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Neither
the Company nor any of its Subsidiaries: (i) is a party to, or bound by, any Tax allocation, indemnification or sharing agreement (other
than an agreement solely among the Company and any of its Subsidiaries, and other than any agreement entered into with third Persons in
the ordinary course of business the principal purpose of which is not related to the allocation, indemnification, or sharing of Taxes);
or (ii) has any Liability for Taxes of any Person (other than the Company or any of its Subsidiaries) under Treasury Regulations Section
1.1502-6 (or any similar provision of state, local, or non-U.S. Law) or as transferee or successor or otherwise by operation of Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   Neither
the Company nor any of its Subsidiaries has participated in any &ldquo;listed transaction&rdquo; within the meaning of Treasury Regulations
Section 1.6011-4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   Within
the last three (3) years: (i) no private letter rulings or technical advice memoranda have been issued by any Taxing Authority with respect
to the Company or any of its Subsidiaries; (ii) no closing agreements have been entered into between the Company or any of its Subsidiaries,
on the one hand, and any Taxing Authority, on the other hand; and (iii) no claim has been made in writing by any Taxing Authority in a
jurisdiction where the Company or any of its Subsidiaries has not filed income or franchise Tax Returns that the Company or any of its
Subsidiaries is or may be subject to material income or franchise Tax by, or required to file income or franchise Tax Returns with respect
to material Taxes in, such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></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; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g)   Within
the last three (3) years, neither the Company nor any of its Subsidiaries has distributed stock of another Person, or has had its stock
distributed by another Person, in a transaction that was purported or intended to be governed in whole or in part by Section 355(a) of
the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.9   <U>Labor
and Employment Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Each
of the Company and its Subsidiaries is, and during the past three (3) years has been in compliance, in all material respects, with all
applicable Laws governing the employment of labor, including all Contractual commitments and all such Laws relating to discrimination
or harassment in employment; terms and conditions of employment; termination of employment; wages; overtime classification; hours; meal
and rest breaks; occupational safety and health; plant closings; employee whistle-blowing; immigration and employment eligibility verification;
employee privacy; defamation; background checks and other consumer reports regarding employees and applicants; employment practices; negligent
hiring or retention; affirmative action and other employment-related obligations on federal contractors and subcontractors; classification
of employees, consultants and independent contractors; labor relations; collective bargaining; unemployment insurance; the collection
and payment of withholding and/or social security taxes and any similar tax; employee benefits; and workers&rsquo; compensation (collectively,
&ldquo;<B><U>Employment Matters</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Section
2.9(b)(i) of the Company Disclosure Schedule sets forth a true, correct and complete listing, as of the date specified therein, of the
name of all employees of the Company and its Subsidiaries and designates, together with such employee&rsquo;s position or function; annual
base salary or wage; status as &ldquo;exempt&rdquo; or &ldquo;nonexempt&rdquo; for employment classification purposes; accrued leave as
of the date specified therein; any incentive or bonus arrangements with respect to such employee; and any severance potentially payable
to such employee upon termination of employment. <U>Section 2.9(b)(ii)</U> of the Company Disclosure Schedule sets forth a true, correct
and complete listing, as of the date specified therein, of the name of all current consultants and independent contractors of the Company
and its Subsidiaries, together with such individual&rsquo;s compensation arrangement with the Company or any of its Subsidiaries and whether
such individual has entered into a written agreement regarding his or her contractor engagement. The employment of each employee of the
Company or any of its subsidiaries and the engagement of each independent contractor of the Company or any of its subsidiaries is terminable
at will by the Company or the applicable subsidiary without any penalty, Liability, or severance obligation incurred by the Company or
any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   None
of the Company or any of its Subsidiaries is a party to, or bound by, any labor agreement, collective bargaining agreement, work rules
or practices, or any other labor-related agreement or arrangement with any labor union, trade union or labor organization. No employees
of the Company or any of its subsidiaries are represented by any labor union, trade union or labor organization with respect to their
employment with the Company or any of its Subsidiaries. No labor union, trade union, labor organization or group of employees of the Company
or any of its subsidiaries has made a pending demand (in writing) for recognition or certification, and there are no representation or
certification proceedings or petitions seeking a representation proceeding presently pending or threatened in writing to the Company to
be brought or filed with the National Labor Relations Board or any other labor relations tribunal or Governmental Authority. To the Knowledge
of the Company, there is no union organizing activities with respect to any employees of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   There
has been no actual, or to the Knowledge of the Company, threatened (i) material arbitrations, material grievances, labor disputes, strikes,
work stoppages, work slowdowns or lockouts against or involving the Company or any of its Subsidiaries; or (ii) unfair labor practice
charges, grievances or complaints pending or threatened by or on behalf of any employee or group of employees of the Company or any of
its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   Each
of the Company and its Subsidiaries: (i) has taken reasonable steps to properly classify and treat all of their employees as &ldquo;employees&rdquo;
and independent contractors as &ldquo;independent contractors&rdquo;; (ii) has taken reasonable steps to properly classify and treat all
of their employees as &ldquo;exempt&rdquo; or &ldquo;nonexempt&rdquo; from overtime requirements under applicable law; (iii)&nbsp;has
maintained legally adequate records regarding the service of all of their employees, including, where required by applicable Law, records
of hours worked; (iv) is not delinquent in any material payments to, or on behalf of, any current or former employees or independent contractors
for any services or amounts required to be reimbursed or otherwise paid; (v) has withheld, remitted, and reported all material amounts
required by Law or by Contract to be withheld, remitted, and reported with respect to wages, salaries and other payments to any current
or former independent contractors or employees; and (vi) is not liable for any material payment to any trust or other fund governed by
or maintained by or on behalf of any Governmental Authority with respect to unemployment compensation benefits, social security or other
benefits or obligations for any current or former independent contractors or employees (other than routine payments to be made in the
ordinary course of business and consistent with past practice).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   The
Company and its Subsidiaries have paid in full or accrued in their books and records: (i)&nbsp;to all current, former and temporary employees
any wages, salaries, commissions, bonuses, benefits, compensation, overtime, cash outs of accrued unused vacation, paid time-off or other
leave and severance and any other amounts due upon termination of employment that are due and payable and (ii) to all independent contractors,
consultants and other service providers any fees for services that are due and payable. The Company and its Subsidiaries do not
have any Liability as a joint employer with respect to any temporary employees leased or staffed through a third-party entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g)   There
are no, and in the past three (3) years there have been no, pending, or to the Knowledge of the Company, threatened investigations, audits,
or any Actions by any Governmental Authority relating to any Employment Matters of the Company or any of its Subsidiaries. Neither the
Company nor any of its Subsidiaries is a party to, or otherwise bound by, any consent decree with, or citation by, any Governmental Authority
relating to any Employment Matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h)   During
the past three (3) years, neither the Company nor any of its Subsidiaries has effectuated (i) a &ldquo;plant closing&rdquo; (as defined
in the WARN Act) affecting any site of employment or one or more facilities or operating units within any site of employment or facility
of the Company or any of its Subsidiaries; or (ii) a &ldquo;mass layoff&rdquo; (as defined in the WARN Act) affecting any site of employment
or facility of the Company or any of its subsidiaries; and neither the Company nor any of its subsidiaries has been affected by any transaction
or engaged in layoffs or employment terminations sufficient in number to trigger application of any similar state or local law. No employee
of the Company or any of its subsidiaries has suffered an &ldquo;employment loss&rdquo; (as defined in the WARN Act) within the past six
(6) months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i)   To
the Knowledge of the Company, each employee of the Company or any of its Subsidiaries is: (i) a United States citizen, (ii) a United States
national, (iii) a lawful permanent resident of the United States, or (iv) an alien authorized to work in the United States either specifically
for the Company or one of its subsidiaries or for any United States employer. The Company or one of its Subsidiaries has completed a Form
I-9 (Employment Eligibility Verification) for each employee hired since November 6, 1986, and each such Form I-9 has since been updated
as required by applicable Law and, to the Knowledge of the Company, is correct and complete. For each employee of the Company or any of
its Subsidiaries employed in the United States, an authorized official of the Company or one of its Subsidiaries has reviewed the original
documentation relating to the identity and employment authorization of such employee in compliance with applicable Law and such documentation
appeared, to such official, to be genuine on its face and to relate to the employee presenting such documentation. Further, where required
by applicable Law, each of the Company and its Subsidiaries utilize E-Verify pursuant to the terms of the E-Verify Memorandum of Understanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j)   To
the Knowledge of the Company: (i) no employee or independent contractor of the Company or any of its Subsidiaries is in material violation
of any term of any employment Contract, consulting Contract, non-disclosure Contract, common law non-disclosure obligation, non-competition
Contract, non-solicitation Contract, proprietary information Contract or any other Contract relating to confidential or proprietary information,
intellectual property, competition, or related matters; and (ii) the continued employment by the Company and its Subsidiaries of their
respective employees, and the performance of the Contracts with the Company and its Subsidiaries by their respective independent contractors,
will not result in any such material violation. Neither the Company nor any of its Subsidiaries has received any notice alleging that
any such material violation has occurred within the past three (3) years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(k)   The
Company and all Subsidiaries have promptly, thoroughly and impartially investigated all sexual harassment allegations made by or about
any employee or independent contractor of the Company or any of its Subsidiaries since January 1, 2019. With respect to each such allegation
with potential merit, the Company or its Subsidiary, as applicable, has taken prompt corrective action that is reasonably calculated to
prevent further harassment. The Company and its Subsidiaries do not reasonably expect any Liabilities with respect to any such allegations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.10   <U>Employee
Benefit Plans</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Section
2.10(a) of the Company Disclosure Schedule contains a correct and complete list, as of the date of this Agreement, of each material Employee
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i)   each
Employee Plan has been maintained and administered in compliance with its terms and with applicable Law, including ERISA and the Code
to the extent applicable thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii)   each
Employee Plan that is intended to be qualified within the meaning of Section 401(a) of the Code has received a favorable determination
letter from the IRS or is entitled to rely upon a favorable opinion issued by the IRS, and, to the Knowledge of the Company, no events
have occurred that would reasonably be expected to adversely affect the qualified status of any such Employee Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iii)   neither
the Company nor any of its ERISA Affiliates has ever (x) sponsored, maintained or contributed to an Employee Plan that was subject to
Section 412 of the Code or Title IV of ERISA or (y) been obligated to contribute to, or had any Liability with respect to, a &ldquo;multiemployer
plan&rdquo; (as defined in Section 4001(a)(3) of ERISA) or a plan described in Section 413 of the Code;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iv)   no
Employee Plan provides benefits, including death or medical benefits, with respect to current or former employees or other individual
service providers of the Company or its Subsidiaries beyond their retirement or other termination of service, other than (A) coverage
mandated by applicable Law, (B) severance benefits that do not exceed three (3) years following termination of employment or (C) group
life and disability insurance policies made available to current employees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(v)   all
contributions or other amounts payable by the Company or its Subsidiaries as of the date of this Agreement with respect to each Employee
Plan have been paid or accrued in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vi)   with
respect to each Employee Plan that is subject to Section 409A of the Code, such Employee Plan has been operated and administered in compliance
with Section 409A of the Code;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vii)   there
has been no prohibited transaction (within the meaning of Section 406 of ERISA or Section 4975 of the Code and other than a transaction
that is exempt under a statutory or administrative exemption) with respect to any Employee Plan that would result in Liability to the
Company or any of its ERISA Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(viii)   there
are no pending or, to the Knowledge of the Company, threatened claims (other than routine claims for benefits) with respect to any Employee
Plan that would reasonably be expected to result in any Liability of the Company or any of its Subsidiaries; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ix)   Except
as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, each International
Employee Plan has been duly registered in compliance with all applicable Laws of each jurisdiction where such registration is required
and, as to any International Employee Plan that is required by applicable Law to be funded and/or book-reserved, such International Employee
Plan is funded and/or book reserved, as appropriate, based upon reasonable actuarial assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   Except
as expressly provided in this Agreement, the consummation of the First Tranche will not (either alone or together with any other event)
(i) entitle any employee, director or independent contractor of the Company or any of its Subsidiaries to any payment, forgiveness of
indebtedness, or distribution, (ii) accelerate the time of payment or vesting or trigger any payment or funding of compensation or benefits
under, or increase the amount payable under or trigger any other obligation pursuant to, any Employee Plan, or (iii) result in any payment
to any &ldquo;disqualified individual&rdquo; (as such term is defined in Section 280G of the Code and the regulations thereunder) that
would reasonably be expected to, individually or in combination with any other such payment, be characterized as an &ldquo;excess parachute
payment&rdquo; (as defined in Section 280G(b)(1) of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.11   <U>Intellectual
Property</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company and/or its Subsidiaries exclusively own and have valid title of the Company Owned IP, free and clear of any Liens, other than
Permitted Liens. Except as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect, the Company Owned IP is subsisting and, to the Knowledge of the Company, valid and enforceable. The Company or a Company Subsidiary
duly licenses pursuant to a valid written Contract all Company Licensed IP that is material to the conduct of the business of the Company
and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   As
of the date of this Agreement, there are no legal disputes or claims pending or threatened in writing, alleging infringement, misappropriation
or any other violation of any Intellectual Property Rights of any Person by the Company or any of its Subsidiaries or contesting the validity,
use, ownership enforceability or registrability of any Company Owned IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
operation of the business of the Company and its Subsidiaries has not infringed, misappropriated, or otherwise violated any Intellectual
Property rights of any Person in any material respect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   To
the Knowledge of the Company, no Company Owned IP has been infringed, misappropriated, or otherwise violated by any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   Section
2.11(e) of the Company Disclosure Schedule contains a complete and correct list, as of the date of this Agreement, of all (i) Company
Registered IP (showing in each, as applicable, the filing date, date of issuance, expiration date and registration or application number,
and registrar) and (ii) all Contracts pursuant to which the Company or any of its Subsidiary is granted a right to use any Company Licensed
IP, including for the software or Business Systems of any other persons, in each case, that are material to the business of the Company
or any Company Subsidiaries, other than (x) unmodified, commercially available, &ldquo;off-the-shelf&rdquo; software or (y) Business Systems
with a replacement cost or aggregate annual license and maintenance fees of less than $50,000). Except as would not have or reasonably
be expected to have a Material Adverse Effect on the Company, the Company and its Subsidiaries have paid all fees and filed all documents
reasonably necessary to maintain the Company Registered IP. None of the issued Company Registered IP has been adjudged invalid or unenforceable
in whole or in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   The
Company and its Subsidiaries have taken commercially reasonable steps to protect the trade secrets and confidential information comprising
the Company Owned IP and to protect any confidential information of any other Person that is in their possession or control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g)   Except
as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, all Persons who
have contributed, developed or conceived any Company Owned IP have executed valid, written agreements with the Company or one of the Company
Subsidiaries, pursuant to which such Persons have assigned to the Company or the applicable Company Subsidiary, based on a present tense
assignment, all of their entire right, title, and interest in and to any Intellectual Property Rights created, conceived or otherwise
developed by such Person in the course of and related to his, her or its relationship with the Company or the applicable Company Subsidiary,
without further consideration or any restrictions or obligations whatsoever, including on the use or other disposition or ownership of
such Intellectual Property Rights, except as required by applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h)   The
Company and the Company Subsidiaries do not use and have not used any Open Source Software or any modification or derivative thereof in
a manner that would (i) grant or purport to grant to any other person any rights to or immunities under any of the Company Owned IP, or
(ii) require the Company or any Company Subsidiaries to disclose, distribute, license or provide the source code to any Product components
or Business Systems owned or purported to be owned by the Company or any Company Subsidiaries at no or minimal charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i)   The
Company and each of the Company Subsidiaries currently, and in the past three (3) years, have complied in all material respects with all
applicable Privacy and Data Security Requirements. The Company and the Company Subsidiaries have each implemented reasonable data security
safeguards designed to protect the security and integrity of its Business Systems and any Personal Information or Business Data held or
processed by or on behalf of the Company or any Company Subsidiary, including implementing industry standard procedures designed to prevent
unauthorized access and the introduction of disabling devices, malware, or viruses. In the past three (3) years, neither the Company nor
any of the Company Subsidiaries has (i) experienced any data security breaches that were required to be reported under applicable Privacy/Data
Security Laws or contracts entered into by the Company or any Company Subsidiary; or (ii) been subject to or received written notice of
any Action by any Governmental Authority or any customer, or received any material claims or complaints regarding the collection, dissemination,
storage or use of Personal Information, or the material violation of any applicable Privacy and Data Security Requirements, and, to the
Knowledge of the Company, there is no reasonable basis for the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j)   The
Company or one of the Company Subsidiaries (i) exclusively owns and possesses all right, title and interest in and to the Business Data
free and clear of any restrictions of any nature or (ii) has all rights to use, exploit, publish, reproduce, distribute, license, sell,
and create derivative works of the Business Data, in whole or in part, in the manner in which the Company and the Company Subsidiaries
receive and use such Business Data prior to the Closing Date. The Company and the Company Subsidiaries are not subject to any contractual
requirements, privacy policies, or other legal obligations, including based on the consummation of the First Tranche, that would prohibit
Purchaser from receiving or using Personal Information or other Business Data, in the manner in which the Company and the Company Subsidiaries
receive and use such Personal Information and other Business Data prior to the Closing Date or result in material liabilities in connection
with Privacy and Data Security Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.12   <U>International
Trade Laws</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company Group, each of its officers, directors and employees, and, to the Knowledge of the Company, agents, distributors, or sub-distributors
of any member of the Company Group or to the Knowledge of the Company, any other Persons while acting for or on behalf of them, is and
has been for the past five (5) years in compliance with: (i) all applicable sanctions laws, including the U.S. economic sanctions laws
administered by the U.S. Department of the Treasury, Office of Foreign Assets Control (&ldquo;<U>OFAC</U>&rdquo;), the U.S. Department
of State, the United Nations Security Council, the United Kingdom and the European Union (&ldquo;<U>Sanctions</U>&rdquo;); (ii) all applicable
laws or regulations regarding the importation of goods, including the U.S. import laws administered by U.S. Customs and Border Protection;
(iii) all applicable export control laws, including the Export Administration Regulations administered by the U.S. Department of Commerce
(&ldquo;<U>Commerce</U>&rdquo;), the International Traffic in Arms Regulations administered by the U.S. Department of State, and the EU
Dual Use Regulation; and (iv) the anti-boycott regulations administered by Commerce and the U.S. Department of the Treasury (collectively,
the &ldquo;<U>Customs &amp; International Trade Laws</U>&rdquo;), related to the regulation of exports (including deemed exports), re-exports,
transfers, releases, shipments, transmissions, imports or similar transfer of goods, technology, software or services, or any other transactions
or business dealings, by or on behalf of any member of the Company Group. Without limiting the foregoing: (x) no member of the Company
Group has made any voluntary or involuntary disclosure or received written notice that it is subject to any civil or criminal investigation,
proceeding, audit or any other inquiry, or has conducted any internal investigation, or is aware of any allegation involving or otherwise
relating to any alleged or actual material violation of the Customs &amp; International Trade Laws; and (y) there is no pending or, to
the Knowledge of the Company, threatened Action pending against, or, to the Knowledge of the Company, investigation by a Governmental
Authority of, any member of the Company Group, nor is there any order imposed or, to the Knowledge of the Company, threatened to be imposed
upon any member of the Company Group by or before any Governmental Authority, in each case in connection with any allegation involving
or otherwise relating to any alleged or actual material violation of the Customs &amp; International Trade Laws. Without limiting any
of the foregoing, the Company Group has not, in the past five (5) years, conducted any unlawful business in or with persons located, organized,
or resident in a jurisdiction subject to comprehensive U.S. Sanctions, including but not limited to Iran, North Korea, Syria, Cuba, and
the Crimea, so-called Donetsk People&rsquo;s Republic, and so-called Luhansk People&rsquo;s Republic regions of Ukraine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   No
member of the Company Group, their respective officers, directors and employees and, to the Knowledge of the Company, agents, distributors,
or sub-distributors of any member of the Company or to the Knowledge of the Company, any other Persons while acting for or on behalf of
them, is designated on, or is owned 50% or more in the aggregate or controlled by any party that is designated on, any list of prohibited
parties maintained by any applicable Governmental Authority, including OFAC&rsquo;s Specially Designated Nationals and Blocked Persons
List, and the EU Consolidated List.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   Each
member of the Company Group, and each of their respective officers, directors and employees, has not, and to the Knowledge of the Company,
agents, resellers or other third-party representatives of the Company or to the Knowledge of the Company, any other Persons while acting
for or on behalf of them, have not, directly or indirectly, violated or taken any act in furtherance of violating any provision of the
U.S. Foreign Corrupt Practices Act of 1977 (as amended), the U.K. Bribery Act 2010 or any other anti-corruption or anti-bribery law (collectively,
the &ldquo;<U>Anti-Corruption Laws</U>&rdquo;) to the extent applicable to the Company Group&rsquo;s operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Each
member of the Company Group, and each of their respective officers, directors and employees, has not, and to the Knowledge of the Company,
agents, resellers or other third-party representatives of the Company Group or to the Knowledge of the Company, any other Persons while
acting for or on behalf of them, have not, directly or indirectly taken any act in furtherance of or authorized an offer, payment, promise
to pay, gift, bribe, rebate, loan, payoff, kickback or any other transfer of value provided to any Person for the purpose of inducing
such Person to do any act or make any decision in an official capacity, including a decision to fail to perform an official function,
or use his or her or its influence with a Governmental Authority in order to affect any act or decision of such Governmental Authority
for the purpose of assisting any Person to obtain or retain any business, or to facilitate efforts of any Person to transact business
or for any other improper purpose, in violation of applicable Anti-Corruption Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.13   <U>Absence
of Certain Changes or Events</U>. Since December 31, 2021, no material change, event or effect has occurred on the Company. Between
December 31, 2021 and the Effective Date, the Company Group has conducted their respective businesses in all material respects only in
the ordinary course consistent with past practice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.14   <U>Litigation</U>.
There is no material litigation, arbitration, investigation by a Governmental Authority or other Person, suit, action or proceeding pending
(each, an &ldquo;<U>Action</U>&rdquo;) or threatened in writing against the Company, any of its Subsidiaries or any director, officer
or employee of any of the Company or any of its Subsidiaries, except for any such Action as would not or reasonably be expected to, either
individually or in the <FONT STYLE="font-family: Times New Roman, Times, Serif">aggregate, materially impair the ability of the Company
to conduct the Business as it is currently conducted or, if adversely determined, result in material damages to the Company or any Subsidiaries</FONT>.
To the Knowledge of the Company, no event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such
Action. The Company is not subject to any order (including any temporary restraining order), decision, judgment, writ, injunction (including
any preliminary or permanent injunction), directive, stipulation, decree, award or other determination of or by any Governmental Authority
(each, an &ldquo;<U>Order</U>&rdquo;), <FONT STYLE="font-family: Times New Roman, Times, Serif">except for any such Action as would not
or reasonably be expected to, either individually or in the aggregate, materially impair the ability of the Company to conduct the Business
as it is currently conducted or, if adversely determined, result in material damages to the Company or any Subsidiaries</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.15   <U>Title
to Property and Assets</U>. The Company has good, valid and marketable title, of record and beneficially, to all of its properties, and
interests in properties and assets, real and personal, free and clear of all Liens, except Permitted Liens. With respect to the property
and assets it leases, the Company is in material compliance with such leases and holds a valid leasehold interest free of any Liens, except
Permitted Liens.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.16
<U>Compliance with Law</U><FONT STYLE="font-size: 10pt"></FONT>. The Company and its Subsidiaries hold, and have at all times since
January 1, 2020 held, all material licenses, registrations, franchises, certificates, variances, permits, charters and authorizations
(the &ldquo;<U>Company Permits</U>&rdquo;), necessary for the lawful conduct of their respective businesses and ownership of their respective
properties, rights and assets under and pursuant to each (and have paid all fees and assessments due and payable in connection therewith).
No suspension, revocation or cancellation of any of the Company Permits is pending or, to the Knowledge of the Company, threatened in
writing, and, to the Knowledge of the Company, no suspension, revocation or cancellation of any such necessary license, registration,
franchise, certificate, variance, permit, charter or authorization is threatened. Neither the Company nor any of its Subsidiaries is,
or has been in the past three (3) years, in material conflict with, or in material default, breach or violation of, (a) any Law applicable
to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected,
or (b) any Material Contract or Company Permit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.17 <U>Insurance</U><FONT STYLE="font-size: 10pt"></FONT>.
The Company and its Subsidiaries maintain insurance policies against such risks and in such amounts as the management of the Company
reasonably has determined to be prudent and consistent with industry practice. All such policies are in full force and effect in
accordance with their terms and all premiums with respect thereto covering all periods up to and including the Effective Date have
been paid, or will be paid when due. The Company has not received any written notice of cancellation, material change in premium or
denial of renewal in respect of any such policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.18   <U>Opinion
of Financial Advisor</U>. B. Riley has delivered to the Special Committee an opinion to the effect that, as of the date of such opinion,
and based upon and subject to the factors and assumptions set forth therein, the consideration to be paid by Purchaser to the Company
pursuant to the Transactions as provided in this Agreement, taken together, is fair, from a financial point of view, to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.19 <U>Finders&rsquo;
Fees</U><FONT STYLE="font-size: 10pt"></FONT>. Except as set forth in Section 2.19 of the Company Disclosure Schedule, no agent,
broker, investment banker or financial advisor retained by the Company is or will be entitled to any broker&rsquo;s or
finder&rsquo;s fee or any other similar commission or fee payable by the Company or any Subsidiary of the Company in connection with
any of the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.20   <U>Broker-Dealer
Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company Group is current in all material filings required by the SEC or any other Governmental Authority. The Company Broker Dealers are
members in good standing of FINRA. As of the date hereof, other than the Company Broker Dealers, none of the Company&rsquo;s Subsidiaries
engages in activities that would require it to be registered as a broker-dealer with the SEC or any other Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   None
of the Company or any of its Subsidiaries or, to the Knowledge of the Company, any &ldquo;associated person&rdquo; (within the meaning
of the Exchange Act)) of the Company, is ineligible from registration as a broker-dealer or as an &ldquo;associated person&rdquo; of a
registered broker-dealer (within the meaning the Exchange Act), as applicable, pursuant to Section 15(b) of the Exchange Act. As of the
date hereof, there is no proceeding, investigation, inquiry or other action pending or, to the Knowledge of the Company, threatened in
writing that would reasonably be expected to result in the Company, the Company Broker Dealers or any &ldquo;associated person&rdquo;
(within the meaning of the Exchange Act) thereof becoming ineligible to act in such capacity. The Company Broker Dealers are, and at all
times required by applicable Law have been, duly registered (i) with the SEC as broker-dealers under the Exchange Act, and (ii) in each
state or any other jurisdiction where the conduct of their business required such registration, licensing or qualification. Each such
registration or license is in full force and effect. The Company Broker Dealers are in compliance in all material respects with the applicable
provisions of the Exchange Act. In the last three (3) years, each associated person of the Company Broker Dealers, including any director,
officer and employee of the Company Broker Dealers who is required to be registered as a broker-dealer, principal, registered representative,
or salesperson in connection with his, her or its activities for or with the Company Broker Dealers with any Governmental Authority have
been duly licensed or registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   In
the last three (3) years, the Company has timely filed any amendment to the Company Broker Dealers&rsquo; Form BD (a &ldquo;<U>Form BD
Amendment</U>&rdquo;). The Company has provided or made available to Purchaser accurate copies of the Form BD Amendment, as most recently
amended and filed with the SEC. The information contained in such form was materially accurate at the time of filing and the Company has
made all amendments to such form as it is required to make under any applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   The
Company Broker Dealers currently maintain, and at all times since for the last three (3) years have maintained, &ldquo;net capital&rdquo;
(as such term is defined in Rule 15c3-1 under the Exchange Act): (i) equal to or in excess of the minimum &ldquo;net capital&rdquo; required
to be maintained by it under the Exchange Act and such additional amounts, if any, required by FINRA and any other Governmental Authority
and (ii) in an amount sufficient to ensure that it has not been required to file notice under Rule 17a-11 under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   The
Company Broker Dealers have in effect, and at all times required by applicable Law in the last three (3) years have had in effect, written
policies and procedures necessary to comply with applicable Law (including FINRA Rule 3120, the federal securities Laws and regulations,
anti-money laundering Laws, including a written customer identification program), complete and correct copies of which have been provided
to Purchaser and the Company Broker Dealers and, to the Knowledge of the Company, their employees have complied in all material respects
with such policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   As
of the date hereof, the Company and its Subsidiaries are not required to be registered, licensed or qualified as a bank, trust company,
commodity trading advisor, commodity broker-dealer, commodity pool operator, futures commission merchant, transfer agent, real estate
broker, or municipal advisor. The Company and its Subsidiaries have not received written notice of any proceeding instituted by a Governmental
Authority concerning any failure to obtain any such registration, license or qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.21   <U>Investment
Adviser Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   During
the three (3) year period prior to the date hereof, Company Financial Advisor and, to the Knowledge of the Company, each of its officers
and employees, who is required to be registered, licensed or qualified as (i) an investment adviser or (ii) an investment adviser representative,
in each case, under the Investment Advisers Act or any applicable similar U.S. state securities Law is registered, licensed or qualified
as such, and all such registrations and licenses are in full force and effect. Company Financial Advisor is in compliance in all material
respects with the applicable provisions of the Investment Advisers Act. As of the date hereof, to the Knowledge of the Company, Company
Financial Advisor does not act (x) as an investment adviser to any non-U.S. Person or any Advisory Client outside the U.S. in a manner
or to an extent that requires registration in any such jurisdiction, or (y) as an investment adviser (or, for the avoidance of doubt,
a sub-adviser) to any pooled investment vehicle or fund, including any such vehicle or fund (A) excepted from the definition of &ldquo;investment
company&rdquo; (as defined under the Investment Advisers Act) under Section 3(c)(1) or Section 3(c)(7) of the Investment Advisers Act,
or (B) required to register as an &ldquo;investment company&rdquo; under the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   During
the three (3) year period prior to the date hereof, Company Financial Advisor (to the extent required) has timely filed Form ADV, and
as of the date of filing, no Form ADV contained any untrue statement of a material fact or omitted to state a material fact required to
be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading. Each such Form ADV is in compliance with the applicable requirements of the Investment Advisers Act, except where the failure
to be in compliance would not have a Material Adverse Effect. Company Financial Advisor has made available to Purchaser a correct and
complete copy of Company Financial Advisor&rsquo; Form ADV as in effect as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   None
of Company Financial Advisor or, to the Knowledge of the Company, any officer or employee of, or any other &ldquo;person associated with&rdquo;
(as defined in the Investment Advisers Act) Company Financial Advisor is ineligible pursuant to Section 203(e) or 203(f) of the Investment
Advisers Act to serve as a registered investment adviser or as a person associated with a registered investment adviser, nor is there
any proceeding, investigation or other action pending or, to the Knowledge of the Company, threatened by any Governmental Authority that
would result in the ineligibility of Company Financial Advisor or any officer or employee of, or any other &ldquo;person associated with&rdquo;
Company Financial Advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Company
Financial Advisor has designated and approved a chief compliance officer in accordance with Rule 206(4)-7 under the Investment Advisers
Act or other applicable Law. Company Financial Advisor has established in compliance with requirements of applicable Law, and maintained
in effect at all times required by applicable Law in the prior three (3) years, (i) written anti-money laundering policies and procedures
that incorporate, among other things, a written customer identification program, (ii) a code of ethics and a written policy regarding
insider trading and the protection of material non-public information, (iii) written cyber security and identity theft policies and procedures,
(iv) written supervisory procedures and a supervisory control system, (v) written policies and procedures designed to protect non-public
personal information about Advisory Clients and other third parties, (vi) written recordkeeping policies and procedures, and (vii) other
policies required to be maintained by such Company Financial Advisor under applicable Law, including (to the extent applicable) Rules
204A-1 and 206(4)-7 under the Investment Advisers Act, except, in each case under clauses (i)-(vii), as would not, individually or in
the aggregate, reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. Neither Company Financial
Advisor nor any &ldquo;covered associate&rdquo; thereof has made a &ldquo;contribution&rdquo; or &ldquo;coordinated&rdquo; or &ldquo;solicited&rdquo;
a &ldquo;contribution&rdquo; to an &ldquo;official&rdquo; of a government entity (as such terms are defined in Rule 206(4)-5 under the
Investment Advisers Act) that would disqualify or otherwise prevent Company Financial Advisor from providing Investment Advisory Services
for compensation to such government entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   With
respect to each Advisory Client, (i) there has been in full force and effect an Advisory Contract at all times that Company Financial
Advisor was performing Investment Advisory Services for such Advisory Client, (ii) each Advisory Contract is a valid and binding Contract
of Company Financial Advisor and such Advisory Client, enforceable in accordance with its terms, (iii) each Advisory Contract has been
entered into and performed by Company Financial Advisor in accordance with its terms (including any applicable investment restrictions
or policies of such Advisory Client), the Investment Advisers Act and applicable Law, (iv) each Advisory Contract includes all provisions
required by Section 205 of the Investment Advisers Act and (v) there have been no material errors, miscalculations, discrepancies and/or
changes to calculation methodologies with respect to any fees charged under such Advisory Contracts (or any material credits, refunds
or reimbursements to such Advisory Clients related thereto), and all fees paid by such Advisory Client have been calculated in all material
respects in accordance with the relevant Advisory Contract and applicable Law, using a calculation methodology for such fees consistent
with the Advisory Contract, except, in each case under clauses (i)-(v), as would not, individually or in the aggregate, reasonably be
expected to be material to the Company and its Subsidiaries, taken as a whole. Company Financial Advisor has delivered or made available
to Purchaser a true and complete copy of each Advisory Contract for each Advisory Client (or, if applicable, each form thereof currently
in effect for any Advisory Client).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   None
of the Company, Company Financial Advisor or any of their Subsidiaries or, to the Knowledge of the Company, any director, executive officer
or any other officer thereof is or has been (i) subject to ineligibility pursuant to Section 203 of the Investment Advisers Act to serve
as a registered investment adviser or as an &ldquo;associated person&rdquo; (as defined in the Investment Advisers Act) of a registered
investment adviser, (ii) subject to disqualification pursuant to Rule 206(4)-3 under the Investment Advisers Act or (iii) subject to any
Disqualification Event specified in Rule 506(d)(1)(i)-(viii) of Regulation D promulgated under the Securities Act (including, for the
avoidance of doubt, Disqualification Events that would have triggered disqualification under Rule 506(d)(1) but occurred before September
23, 2013 or have been waived by a waiver, order, judgment or decree granted under Rule 506(d)(2)(ii) or (iii)), nor is there any proceeding,
investigation or other Action pending or threatened in writing (or, to the Knowledge of the Company, otherwise) by any Governmental Authority
that would reasonably be expected to result in any such Disqualification Event. None of the Company, any of its Subsidiaries, any officer,
director or employee thereof or, to the Knowledge of the Company, any other &ldquo;affiliated person&rdquo; (as defined in the Investment
Company Act) thereof is subject to ineligibility pursuant to Section 9(a) or 9(b) of the Investment Company Act to serve in any capacity
referred to in Section 9(a) thereof to a Public Fund, nor is there any Action pending or, to the Knowledge of the Company, threatened
in writing, by any Governmental Authority, which would provide a basis for such ineligibility which would reasonably be expected to be,
individually or in the aggregate, material to the Company and its Subsidiaries, taken as a whole. Each employee of the Company or any
of its Subsidiaries who is required to be registered or licensed as a registered representative, principal, investment adviser representative,
salesperson or equivalent with any Governmental Authority is duly registered or licensed as such and such registration or license is in
full force and effect, except as would not, individually or in the aggregate, reasonably be expected to be material to the Company and
its Subsidiaries, taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g)   None
of the Company or any of its Subsidiaries has &ldquo;custody&rdquo; (as such term is defined in Rule 206(4)-2 under the Investment Advisers
Act) of any funds or securities of any Advisory Client, except such &ldquo;custody&rdquo; as arises solely as a result of the Company
or any of its Subsidiaries&rsquo; authority to make withdrawals from client accounts to pay its advisory fees and, with respect thereto,
the Company and its Subsidiaries comply with all applicable requirements of said Rule 206(4)-2 in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h)
During the three (3) year period prior to the date hereof, none of the Company or any of its Subsidiaries has (i) received a written
&ldquo;wells notice&rdquo; or other written indication of the commencement of an enforcement action from the SEC, FINRA or any other
Governmental Authority, (ii) been subject to a formal governmental order instituting proceedings or similar action from the SEC, FINRA
or any other Governmental Authority, (iii) settled any claim or proceeding of the SEC, FINRA or any other Governmental Authority or (iv)
received any written notice from any Governmental Authority that alleges any material noncompliance with any applicable Law governing
the operations of investment advisers or broker-dealers. If Company Financial Advisor has in the past undergone an examination, inspection,
investigation or inquiry from a Governmental Authority and has received, at the conclusion thereof, communication from such Governmental
Authority regarding the outcome of such examination, inspection, investigation or inquiry (<I>e.g.</I>, a &ldquo;deficiency letter&rdquo;
or other such communication), it has (x) timely responded, to the extent required, to such communication and (y) remedied or otherwise
corrected any issue(s) or compliance matter(s) identified in such communication in the manner asserted in such responsive communication,
and has experienced no repeated incidents of the nature identified by the Governmental Authority in its communication to Company Financial
Advisor that would lead to possible &ldquo;recidivist&rdquo; status, except to the extent as would not, individually or in the aggregate,
reasonably be expected to be material to the Company and its Subsidiaries (including as a result of discovery by any Governmental Authority
in a future examination, inspection, investigation or inquiry), taken as a whole.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i)   Neither
the Company nor any of its Subsidiaries currently advises, has plans to commence advising, or in the past three (3) years has advised,
any Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j)   Neither
the Company nor any of its Subsidiary has, in the past three (3) years, entered into or been a party to any effective agreement with any
person to solicit or find investment advisory clients for the Company or any of its Subsidiary, except pursuant to a written agreement
in conformance with the &ldquo;cash solicitation rule&rdquo; or revised &ldquo;marketing rule&rdquo; then applicable under the Investment
Advisers Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.22   <U>Affiliate
Transactions</U>. The Company is not conducting, permitting or suffering to be conducted, transactions with any Affiliate other than transactions
for services in the ordinary course of business pursuant to terms that are no less favorable to such Person than the terms upon which
such transactions would have been made had they been made to or with a Person that is not an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.23   <U>Insurance
Regulatory Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   <U>Insurance
Regulatory Matters</U>. The Company has made available to Purchaser true and complete copies of all examination reports (and have
notified Purchaser in writing of any pending examinations to the Knowledge of the Company) conducted by an Insurance Regulator with respect
to the Company or Park Wilshire that have been finalized since January 1, 2019, unless the most recent examination report for the Company
or Park Wilshire was received prior to that date, in which case a true and complete copy of each such earlier examination report.&nbsp;
Since January 1, 2019, no violations have been asserted in writing by any Insurance Regulator, other than any violation which has been
cured or otherwise resolved to the satisfaction of such Insurance Regulator without imposition of any material penalty, condition or obligation
on the Company or Park Wilshire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   <U>Insurance
Contracts</U>. The Company has made available to Purchaser all insurance treaties, agreements, slips, binders, cover notes and similar
arrangements in force as of the date of this Agreement to which the Company or Park Wilshire are a party or otherwise bound (the &ldquo;<U>Insurance
Contracts</U>&rdquo;). For the avoidance of doubt, an Insurance Contract is &ldquo;in force as of the date of this Agreement&rdquo;
if the contract term of such Insurance Contract is in effect on the date of this Agreement. Each Insurance Contract is valid and
binding on the Company or Park Wilshire, and to the Knowledge of the Company, each other party thereto, and is in full force and effect.&nbsp;
The Company or Park Wilshire, and, to the Knowledge of the Company, any other party thereto, have performed all obligations required to
be performed by it under each Insurance Contract. The Company or Park Wilshire have not received notice of the existence of any
event or condition which constitutes, or, after notice or lapse of time or both, will constitute, a default on the part of the Company
or Park Wilshire under any Insurance Contract. To the Knowledge of the Company, there are no events or conditions which constitute,
or, after notice or lapse of time or both, will constitute, a default on the part of any counterparty under such Insurance Contracts.&nbsp;
To the Knowledge of the Company, no counterparty under an Insurance Contract is insolvent or the subject of a rehabilitation, liquidation,
conservatorship, receivership, bankruptcy or similar proceeding. All Insurance Contracts have been issued, to the extent required by applicable
Law, on forms filed with and approved by all applicable Insurance Regulators and other Governmental Authorities, or not objected to by
any such Insurance Regulators or Governmental Authorities within any period provided for objection, and all such forms comply in all material
respects with applicable Laws. All premium rates with respect to the Insurance Contracts, to the extent required by applicable Law,
have been filed with and approved by all applicable Insurance Regulators and other Governmental Authorities or were not objected to by
any such Insurance Regulator or other Governmental Authority within any period provided for objection. All Insurance Contracts issued
by the Company or Park Wilshire have been marketed, sold and issued in compliance in all material respects with all applicable Laws, all
applicable orders and directives of all Insurance Regulators and other Governmental Authorities. There are no unpaid claims or assessments
made against the Company or Park Wilshire by any state insurance guaranty associations, funds or similar organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   <U>Insurance
Licenses</U>. <U>Section 2.23(c)</U> of the Company Disclosure Schedule contains a true and correct list of all state insurance certificates
of authority and all other approvals, authorizations, consents, franchises, licenses, permits, registrations, certificates, accreditations,
qualifications, variances and similar rights to write and/or offer and sell insurance products issued to the Company or Park Wilshire
by any Insurance Regulator or other Governmental Authority (collectively, &ldquo;<U>Insurance Licenses</U>&rdquo;). Each Insurance
License is in good standing and in full force and effect. The Company or Park Wilshire are, and since January 1, 2019 have been,
in material compliance with the terms of the Insurance Licenses and no revocation, lapse, limitation, suspension or cancellation of any
of the Insurance Licenses is pending or, to the Knowledge of the Company, has been threatened in writing. The Company has delivered
or made available to Purchaser true and complete copies of each Insurance License issued to the Company or Park Wilshire. Park Wilshire
is (i) duly licensed and authorized as an insurance company in its jurisdiction of organization (including each jurisdiction in which
it is deemed by applicable Law to be commercially domiciled), and (ii) duly licensed, authorized or otherwise eligible to transact the
business of insurance, as applicable, in each other jurisdiction where it is required to be so licensed, authorized or otherwise eligible
in order to conduct its business as currently conducted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.24
<U>Environmental Matters</U><FONT STYLE="font-size: 10pt"></FONT>. (a) The Company is not, or has not been in the past three (3)
years, in violation in any material respect of any applicable Environmental Law; (b) to the Knowledge of the Company, the Company has
not released or caused any release of Hazardous Substances on or from any property currently or formerly owned, leased or operated by
the Company (including, without limitation, soils and surface and ground waters) in violation in any material respect of any Environmental
Law in a manner or quantity which requires reporting, investigation, remediation, monitoring or other response action by the Company
pursuant to applicable Environmental Laws; (c) to the Knowledge of the Company, the Company has not transported or disposed of, or arranged
for the transportation or disposal of, Hazardous Substances at any real property not owned, operated or leased by the Company, in violation
in any material respect of any Environmental Law or otherwise in a manner or quantity that has resulted or would reasonably be expected
to result in a material Liability to the Company under any Environmental Law; (d) the Company has all material permits, licenses and
other authorizations required of the Company under applicable Environmental Law (&ldquo;<U>Environmental Permits</U>&rdquo;); and (e)
the Company is in compliance in all material respects with the terms and conditions of its Environmental Permits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.25   <U>Properties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   <U>Section
2.25(a)</U> of the Company Disclosure Schedule sets forth, as of the date hereof, a true, correct and complete list of all the real property
owned by the Company and its Subsidiaries (collectively, &ldquo;<U>Owned Real Property</U>&rdquo;). The Company has good and marketable
title to all Owned Real Property, free and clear of all Liens, except Permitted Liens. To the extent the same are in the Company&rsquo;s
actual or constructive possession, the Company has made available to Purchaser true, correct and complete copies of the most recent (i)
vesting deed, (ii) title commitment, (iii) owner&rsquo;s title insurance policy, and (iv) survey of each parcel of Owned Real Property,
together with copies of any existing mortgages and/or deeds of trust, as well as any related promissory note(s). There are no encroachments
from the Owned Real property onto adjacent property, nor are there any encroachments from any adjacent property onto the Owned Real Property.
Other than the Owned Real Property, the Company and its Subsidiaries do not own and have never owned any real property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   <U>Section
2.25(b)</U> of the Company Disclosure Schedule sets forth as of the date hereof, a true, correct and complete list of all the real estate
leases, subleases, licenses and occupancy agreements (together with any amendments, modifications, supplements, replacements, restatements
and guarantees thereof or thereto, including any oral amendments, each, a &ldquo;<U>Real Property Lease</U>&rdquo;) to which the Company
or any of its Subsidiaries is a party with respect to all real property leased, subleased, licensed or otherwise used or occupied by the
Company or any of its Subsidiaries on the date hereof (collectively, the &ldquo;<U>Leased Real Property</U>&rdquo;). The Company or each
of its Subsidiaries has valid leasehold interests in the Leased Real Property, free and clear of all Liens, except for Permitted Liens,
and with rights to quiet possession and quiet enjoyment that are not violated. Each Real Property Lease is (i) valid, binding and in full
force and effect without material default thereunder by the lessee or, to the Knowledge of the Company, the lessor, and (ii) enforceable
against the Company or the applicable Subsidiary and, to the Knowledge of the Company, any counterparty thereto. The Company and each
of its Subsidiaries has in all material respects performed all obligations required to be performed by it under each Real Property Lease,
and to the Knowledge of the Company, each counterparty to each Real Property Lease has in all material respects performed all obligations
required to be performed by it under such Real Property Lease, and no event or condition exists which constitutes or, after notice or
lapse of time or both, will constitute, a material default on the part of the Company or any of its Subsidiaries under any Real Property
Lease. The Company has not failed and will not fail to exercise any right of renewal with respect to any Real Property Lease except in
the ordinary course of business, consistent with past practice. The Company has made available to Purchaser a true, correct and complete
copy of each Real Property Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   Except
as set forth on <U>Section 2.25(c)</U> of the Company Disclosure Schedule, the consummation of the Transactions contemplated by this Agreement
does not require the consent of any party to any Real Property Lease, and will not result in a breach of or default under such Real Property
Lease or otherwise cause such Real Property Lease to cease to be legal, valid, binding, enforceable and in full force and effect on identical
terms following the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Except
as set forth on <U>Section 2.25(d)</U> of the Company Disclosure Schedule, to the Knowledge of the Company, there is no fact or circumstance
which exists that may lead to the material impairment, cancellation or early termination of any Real Property Lease. Except as set forth
on <U>Section 2.25(d)</U> of the Company Disclosure Schedule, to the Knowledge of the Company, there is no fact or circumstance which
exists that may lead to the material impairment of the use, value or occupancy of any Owned Real Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   Neither
the Company nor any of its Subsidiaries has leased, subleased, licensed or otherwise granted any person a right to use or occupy all or
any portion of any Owned Real Property or Leased Real Property. Other than the Company, there are no Persons occupying any portion of
the Owned Real Property or Leased Real Property, as tenants-at-sufferance, trespassers or otherwise. There are no pending or, to the Knowledge
of the Company, threatened condemnation proceedings, other proceedings or enforcement actions against the Owned Real Property or the Leased
Real Property, nor has the Company received any notice from any insurance company or board of fire underwriters of any circumstance that
could adversely impact the insurability of such property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   The
Owned Real Property and the Leased Real Property constitute all of the interests in real property used or held for use by the Company
in connection with the operation and conduct of the Company&rsquo;s business, and no operations or conduct of the Company&rsquo;s business
takes place, occurs or is located on lands or premises other than those constituting the Owned Real Property and Leased Real Property.
The Owned Real Property and the Leased Real Property, taken together, constitute all real property required for, and together with all
improvements thereon are sufficient for, the operation and conduct of the Company&rsquo;s business in the ordinary course, as currently
conducted and consistent with past practice. Neither the Owned Real Property or the Leased Real property nor the use or occupancy thereof
violates in any way any applicable permits, licenses, approvals, certificates of occupancy, etc., and all permits, licenses, approvals,
certificates of occupancy, etc. necessary for the conduct of the Company&rsquo;s business in the ordinary course, as currently conducted
and consistent with past practice have been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.26   <U>CFIUS</U>.
The Company hereby represents that it does not (a) produce, design, test, manufacture, fabricate, or develop one or more critical technologies
(as defined in 31 C.F.R. &sect;800.215) or (b) perform the functions as set forth in column 2 of appendix A to 31 C.F.R. Part 800 with
respect to covered investment critical infrastructure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.27   <U>No
Other Representations or Warranties</U>. Except for the express written representations and warranties made by the Company in this <U>Article
2</U> and in any certificate to be delivered by the Company pursuant to this Agreement, neither the Company nor any other Person makes
any express or implied representation or warranty with respect to the Company or any of its Affiliates or with respect to any other information
provided to Purchaser or any of its Affiliates or its and their respective Representatives by or on behalf of the Company or any of its
Subsidiaries in connection with the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">3.
<U>Representations and Warranties of Purchaser</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser hereby represents and warrants
to the Company that, except as set forth on the disclosure schedule delivered by Purchaser to the Company concurrently with the execution
and delivery of this Agreement (the &ldquo;<U>Purchaser Disclosure Schedule</U>&rdquo;) (it being agreed that disclosure of any item
in any section of the Purchaser Disclosure Schedule shall be deemed disclosed with respect to any other section or subsection of this
Agreement and the Purchaser Disclosure Schedule to the extent that the relevance thereof is reasonably apparent on its face), which exceptions
shall be deemed to be part of the representations and warranties made hereunder, the following representations and warranties are true
and complete as of the date of this Agreement, except as otherwise indicated:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.1 <U>Organization,
Corporate Power and Qualification</U>.<FONT STYLE="font-size: 10pt"> Purchaser is a company duly organized, validly existing and in
good standing under the laws of the Republic of Korea and has all requisite corporate power and authority to carry on its business
as now conducted and as presently proposed to be conducted.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.2
<U>Authorization; Enforceability</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser has all requisite power and authority to enter
into, execute, deliver and perform its obligations under this Agreement and to consummate the First Tranche. The consummation of the
First Tranche and the execution, delivery and performance by Purchaser of this Agreement and all other agreements, transactions and actions
contemplated hereby or thereby, have been duly and validly approved and authorized by Purchaser in accordance with applicable Law and
Purchaser&rsquo;s organizational documents as currently in effect (including, without limitation, Purchaser&rsquo;s articles of incorporation).
Except for the Purchaser Required Approvals, no approval of any of Purchaser&rsquo;s Affiliates or related persons (including equityholders,
directors, officers and otherwise) is necessary for Purchaser to enter into this Agreement or to consummate the First Tranche. This Agreement,
when executed and delivered by Purchaser, shall constitute valid and legally binding obligations of Purchaser, enforceable against Purchaser
in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance,
or any other Laws of general application relating to or affecting the enforcement of creditors&rsquo; rights generally, or (ii) as limited
by Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.3   <U>Governmental
Consents and Filings.</U> No consent, approval, order or authorization of, or registration, qualification, designation, declaration or
filing with, any federal, state or local Governmental Authority is required on the part of Purchaser or its Affiliates in connection with
the consummation of the Transactions, except for (a) filing the Form BD Amendment; (b) compliance with the rules and regulations of Nasdaq;
(c) compliance with any applicable foreign or state securities or &ldquo;blue sky&rdquo; Laws; (d) the Purchaser Required Approvals; and
(e) those as to which requisite consents, approvals, authorizations, permits or actions or waivers thereof have been obtained or requisite
filings have been made or consents or notices have been given, and those the failure of which to make, give or obtain would not (A) have,
individually or in the aggregate, a Purchaser Material Adverse Effect or (B) prevent or materially delay the consummation of the Transactions
or Purchaser&rsquo;s ability to observe and perform its material obligations hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.4
<U>Purchase Entirely for Own Account</U><FONT STYLE="font-size: 10pt"></FONT>. This Agreement is made with Purchaser in reliance
upon such Purchaser&rsquo;s representations and warranties to the Company, which by Purchaser&rsquo;s execution of this Agreement, Purchaser
hereby confirms, that the First Tranche Shares to be acquired by Purchaser will be acquired for investment for such Purchaser&rsquo;s
own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that Purchaser has
no present intention of selling, granting any participation in, or otherwise distributing the same.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.5
<U>Disclosure of Information</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser has had an opportunity to receive all information
related to the Company requested by it and to ask questions of and receive answers from the Company regarding the Company, its business
and the terms and conditions of the offering of the Securities. Purchaser acknowledges receipt of copies of the Company SEC Reports.
Neither such inquiries nor any other due diligence investigation conducted by Purchaser shall modify, limit or otherwise affect Purchaser&rsquo;s
right to rely on the Company&rsquo;s representations and warranties contained in this Agreement and to raise any claim based on such
representations and warranties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.6
<U>Restricted Securities</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser understands that the First Tranche Shares have not
been, and will not be, registered under the Securities Act, by reason of a specific exemption from the registration provisions of the
Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of Purchaser&rsquo;s
representations and warranties as expressed herein. Purchaser understands that the First Tranche Shares are &ldquo;restricted securities&rdquo;
under applicable U.S. federal and state securities Laws and that, pursuant to these Laws, Purchaser must hold the First Tranche Shares
indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification
requirements is available. Except as provided in the Registration Rights Agreement, Purchaser acknowledges that the Company has no obligation
to register or qualify the First Tranche Shares for resale. Purchaser further acknowledges that if an exemption from registration or
qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale,
the holding period for the First Tranche Shares, and on requirements relating to the Company which are outside of Purchaser&rsquo;s control,
and which the Company is under no obligation, and may not be able, to satisfy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.7 <U>Legends</U><FONT STYLE="font-size: 10pt"></FONT>.
Purchaser understands that the First Tranche Shares and any securities issued in respect of or exchange for the First Tranche
Shares, may be notated with one or all of the following legends:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   &ldquo;THE
SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH
A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
THE SECURITIES ACT OF 1933.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Any
legend required by the securities Laws of any state to the extent such Laws are applicable to the First Tranche Shares represented by
the certificate, instrument, or book entry so legended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.8
<U>Accredited Investor</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser is an &ldquo;accredited investor&rdquo; as that term
is defined in Rule 501(a) of Regulation D under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.9
<U>No General Solicitation</U><FONT STYLE="font-size: 10pt"></FONT>. Neither Purchaser, nor any of its officers, directors, employees,
agents, shareholders or partners has either directly or indirectly, including, through a broker or finder (a)&nbsp;engaged in any general
solicitation, or (b)&nbsp;published any advertisement in connection with the offer and sale of the First Tranche Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.10
<U>Exculpation </U>. Purchaser acknowledges that it is not relying upon any Person, other than the Company and its officers and directors,
in making its investment or decision to invest in the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.11
<U>&ldquo;Bad Actor&rdquo; Disqualification</U>. Purchaser is not subject to any of the &ldquo;Bad Actor&rdquo; disqualifications described
in Rule 506(d)(1)(i) to (viii) under the Securities Act (a &ldquo;<U>Disqualification Event</U>&rdquo;), except for a Disqualification
Event covered by Rule 506(d)(2) or (d)(3).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.12
<U>Sanctions Laws</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser represents and warrants that Purchaser, the investors thereof,
and each of their direct and indirect equity holders up to and including the ultimate parent entity of each investor, and their respective
members, directors, officers, and employees, are not as of the Effective Date and will not be as of the Closing: (a) the target of any
Sanctions; (b) located, organized, or resident in any jurisdiction that is the subject of comprehensive Sanctions, including Cuba, Iran,
North Korea, Syria, and the Crimea, so-called Donetsk People&rsquo;s Republic, and so-called Luhansk People&rsquo;s Republic regions
of Ukraine; or (c) owned 50% or more or controlled by any Person described in (a) or (b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.13   <U>Finders&rsquo;
Fees</U>. Except as set forth in Section 3.13 of the Purchaser Disclosure Schedule, no agent, broker, investment banker or financial advisor
retained by Purchaser is or will be entitled to any broker&rsquo;s or finder&rsquo;s fee or any other similar commission or fee payable
by the Company or any Subsidiary of the Company in connection with the consummation of the First Tranche.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.14   <U>No
Other Representations or Warranties; No Reliance</U>. Except for the express written representations and warranties made by Purchaser
in this <U>Article 3</U> and in any certificate delivered by Purchaser pursuant to this Agreement, none of Purchaser or any other Person
makes any express or implied representation or warranty with respect to Purchaser or any of its Affiliates or with respect to any other
information provided to the Company or any of its Affiliates or its and their respective Representatives by or on behalf of Purchaser
in connection with the consummation of the First Tranche.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">4.   <U>Covenants
of the Parties</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.1 <U>Board
Seat</U><FONT STYLE="font-size: 10pt"></FONT>. On the Closing Date, the Company will take all necessary actions to appoint one (1)
designee of Purchaser (the &ldquo;<U>Purchaser&rsquo;s Designee</U>&rdquo;) to the Board who (1) must meet the qualifications
required by the rules of the SEC and Nasdaq and the Company Organizational Documents to serve on the Board and, (2) whose
designation otherwise shall comply with the terms of the Stockholders Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></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; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.2   <U>No
Solicitation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   From
the Effective Date until the earlier of the Closing or the termination of this Agreement in accordance with <U>Article 7</U>, except as
specifically permitted by this <U>Section 4.2</U>, the Company shall not, and shall cause each of its Subsidiaries, directors, executive
officers and controlled Affiliates not to, and shall instruct its other Representatives not to, directly or indirectly: (i) solicit, initiate,
facilitate or knowingly encourage, directly or indirectly, any inquiries, offers or proposals that constitute, or would reasonably be
expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations with (or inquiries, proposals or offers or other
efforts that would reasonably be expected to lead to any Alternative Proposal), furnish or disclose any non-public information relating
to the Company or any of its Subsidiaries to any Person that has made any Alternative Proposal; (iii) amend or grant any waiver or release
under any standstill or similar agreement with respect to any class of equity securities of the Company; (iv)&nbsp;approve, endorse, recommend,
execute or enter into any agreement in principle, letter of intent, memorandum of understanding, term sheet, acquisition agreement, merger
agreement, option agreement, joint venture agreement, partnership agreement or other written arrangement relating to any Alternative Proposal
or any proposal or offer that could reasonably be expected to lead to an Alternative Proposal, or (v)&nbsp;resolve or agree to do any
of the foregoing or otherwise authorize or permit any of its Representatives to take any such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Effective
upon the Effective Date, the Company shall, and shall cause each of its Subsidiaries, Representatives and Subsidiaries&rsquo; Representatives
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. The Company shall promptly inform its Representatives and its Subsidiaries&rsquo; Representatives of the Company&rsquo;s obligations
under this <U>Section 4.2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
Company shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. The Company shall keep Purchaser reasonably informed
on a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request,
including the material terms and conditions thereof and any material amendments or proposed amendments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Nothing
set forth in this Agreement shall prohibit the Company from (i) complying with its disclosure obligations under U.S. federal or state
Law with regard to an Alternative Proposal, (ii) taking and disclosing to the stockholders of the Company any position contemplated by
Rule 14d-9, Rule 14e-2(a) or Item 1012(a) of Regulation M-A promulgated under the Exchange Act, or (iii) making any &ldquo;stop, look
and listen&rdquo; or similar communication of the type contemplated by Rule 14d-9(f) under the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.3 <U>CFIUS</U><FONT STYLE="font-size: 10pt"></FONT>.
Notwithstanding anything to the contrary in this Agreement, the Parties agree that: (a) the Purchaser shall not request or obtain,
and the Company shall not grant the Purchaser access to any sensitive personal data (as defined in 31 C.F.R. &sect; 800.241 as the
same may be amended or restated from time to time) of U.S. citizens maintained, collected by, or in the possession of the Company;
and (b) the Purchaser shall not have any involvement in substantive decision making of the Company regarding the use, development,
acquisition, safekeeping, or release of any sensitive personal data (as defined in 31 C.F.R. &sect; 800.241 as the same may be
amended or restated from time to time) of U.S. citizens maintained, collected by, or in possession of the Company until Closing of
the Second Tranche Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.4   <U>Further
Action; Reasonable Best Efforts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Upon
the terms and subject to the conditions of this Agreement, each of the Company and Purchaser shall (i) at the request of the other Party,
execute and deliver such other instruments and do and perform such other acts and things as may be reasonably necessary or desirable for
effecting completely the consummation of the Transactions and (ii) use its reasonable best efforts to take promptly, or cause to be taken,
all appropriate action, and to do promptly, or cause to be done, all things necessary, proper or advisable under applicable Laws or otherwise
to consummate and make effective the Transactions, to satisfy the conditions to the obligations to consummate the First Tranche, to effect
all necessary registrations and filings and to remove any injunctions or other impediments or delays, legal or otherwise, in order to
consummate and make effective the Transactions for the purpose of securing to the Parties hereto the benefits contemplated by this Agreement,
including, without limitation, using its reasonable best efforts to obtain all permits, consents, waivers, approvals, authorizations,
qualifications and Orders of Governmental Authorities as are necessary for the consummation of the First Tranche, including the TDI Filing
and filing of the Form BD Amendment, and to fulfill the conditions to the First Tranche. If, at any time after the Effective Date, any
further action is necessary or desirable to carry out the purposes of this Agreement, the proper officers, managers and directors of each
of the Company and Purchaser shall use their reasonable best efforts to take all such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Each
of the Parties shall (and shall cause each of its Affiliates to) keep each other apprised of the status of matters relating to the Transactions,
including promptly notifying the other Party of any communication it or any of its Affiliates receives from any Governmental Authority
relating to the matters that are the subject of this Agreement and permitting the other Party to review in advance, and to the extent
reasonably practicable consult about, any proposed communication by such Party to any Governmental Authority in connection with the Transactions.
No Party to this Agreement shall agree to participate in any meeting with any Governmental Authority in respect of any filings, investigation
or other inquiry unless, to the extent reasonably practicable, it consults with the other Party in advance and, to the extent permitted
by such Governmental Authority, gives the other Party the opportunity to attend and participate at such meeting. Subject to the terms
of the Confidentiality Agreement, the Parties will coordinate and cooperate fully with each other in exchanging such information and providing
such assistance as the other Parties may reasonably request in connection with the foregoing. Subject to the terms of the Confidentiality
Agreement, the Parties will provide each other with copies of all material correspondence, filings or communications, including any documents,
information and data contained therewith, between them or any of their Representatives, on the one hand, and any Governmental Authority
or members of its staff, on the other hand, with respect to this Agreement and the Transactions. No Party shall take or cause to be taken
any action before any Governmental Authority that is inconsistent with or intended to delay its action on requests for a consent or the
consummation of the First Tranche.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.5   <U>Conduct
of Business by the Company Pending the Closing</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company agrees that, between the date of this Agreement and the Closing or the earlier termination of this Agreement, except as (i) expressly
contemplated by any other provision of this Agreement, any Ancillary Agreement or the Second Tranche Agreement, (ii) set forth in <U>Section
4.5(a)</U> of the Company Disclosure Schedule, or (iii) required by applicable Law (including (x) as may be requested or compelled by
any Governmental Authority and (y) COVID-19 Measures), unless Purchaser shall otherwise consent in writing (which consent shall not be
unreasonably conditioned, withheld or delayed):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i)   the
Company shall conduct its and its Subsidiaries&rsquo; business in the ordinary course of business and in a manner consistent with past
practice; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii)   the
Company shall use its commercially reasonable efforts to preserve substantially intact the current business organization of the Company
and its Subsidiaries, to keep available the services of the current officers, key employees and consultants of the Company and its Subsidiaries
and to preserve intact the current business relationships and ongoing relationships of the Company and its Subsidiaries with customers,
suppliers, joint venture partners, distributors, creditors, landlords and other business relations of the Company and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   The
Company agrees that, between the date of this Agreement and the Closing or the earlier termination of this Agreement, the provisions set
forth in <U>Section 4.7(b)</U> of the Second Tranche Agreement shall apply <I>mutatis mutandis </I>to this <U>Section 4.5(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.6   <U>Access
to Information; Confidentiality</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   From
the Effective Date until the Closing, the Company Group, on the one hand, and Purchaser, on the other hand, shall: (i) provide to the
other Party (and the other Party&rsquo;s Representatives) access at reasonable times upon prior notice to the officers, employees, agents,
properties, offices and other facilities of such Party and to the books and records thereof; and (ii) furnish promptly to the other Party
such information concerning the business, properties, contracts, assets, Liabilities, personnel and other aspects of such Party as the
other Party or its Representatives may reasonably request; <U>provided</U>, <U>however</U>, that (x) the Company Group, Purchaser, and
their respective Representatives shall conduct any such activities in such a manner as not to unreasonably interfere with the business
or operations of the other Party; and (y) nothing herein shall require the Company and Purchaser to provide access to, or to disclose
any information to, the other Party or any of its Representatives if such access or disclosure, in the good faith reasonable belief of
such Party, (A) would waive any legal privilege or (B) would be in violation of applicable Laws or regulations of any Governmental Authority
or the provisions of any agreement to which such Party is a Party (taking into account the confidential nature of the disclosure); <U>provided</U>,
that, in each case, the Company and Purchaser shall use their respective reasonable best efforts to provide such access as can be provided
(or otherwise convey such information regarding the applicable matter as can be conveyed) in a manner without violating such privilege,
contract or Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   All
information obtained by the Parties pursuant to this <U>Section 4.6</U> shall be kept confidential in accordance with that certain Mutual
Non-Disclosure Agreement dated October 20, 2022, by and between the Company and Purchaser (the &ldquo;<U>Confidentiality Agreement</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.7   <U>Public
Announcements</U>. The initial press release relating to this Agreement shall be a joint press release the text of which has been agreed
to by each of Purchaser and the Company. Thereafter, between the date of this Agreement and the Closing Date or the earlier termination
of this Agreement in accordance with Article 7, unless otherwise required by applicable Law (including the filing of a current report
on Form 8-K within four (4) business days following the entrance into a material definitive agreement) or the requirements of Nasdaq or
the Korea Exchange (in which case Purchaser and the Company shall each use their reasonable best efforts to consult with each other before
making any required public statement or communication and coordinate such required public statement or communication with the other Party,
prior to announcement or issuance), no Party to this Agreement shall make any other public statement or issue any other public communication
regarding this Agreement or the Transactions without the prior written consent of Purchaser and the Company, in each case, which consent
shall not be unreasonably withheld, conditioned or delayed; provided, however, (i) each Party hereto and its Affiliates may make internal
announcements regarding this Agreement and the Transactions to their respective directors, officers, managers and employees without the
consent of any other Party hereto and may make public statements regarding this Agreement and the Transactions containing information
or events already publicly known other than as a result of a breach of this <U>Section 4.7</U> and (ii) the restrictions set forth in
this <U>Section 4.7</U> shall not apply to such release, statement, announcement, or other disclosure that is strictly made with respect
to, (x) in the case of the Company, communications in response to an Alternative Proposal or in connection with change of the Board Recommendation
in accordance with the provisions of <U>Section 4.2(d)</U> or (y) as required by applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.8   <U>Notification
of Certain Matters</U>. The Company shall give prompt notice to Purchaser, and Purchaser shall give prompt notice to the Company, of (a)&nbsp;receipt
of any notice or other communication in writing from any Person alleging that the consent or approval of such third-party is or may be
required in connection with the Transactions or (b) the occurrence, or non-occurrence, of any event the occurrence, or non-occurrence,
of which would reasonably be expected to cause the conditions set forth in <U>Article 5</U> and <U>Article 6</U> to not be satisfied;
<U>provided</U>, <U>however</U>, that the delivery of any notice pursuant to this <U>Section 4.8</U> shall not limit or otherwise affect
the remedies available hereunder to the Party receiving such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.9   <U>Financing</U>.
Purchaser shall use commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things
necessary, proper or advisable to arrange and obtain financing necessary to complete the purchase of the First Tranche Shares on the terms
set forth in this Agreement. For the avoidance of doubt, financing shall not be a condition to the closing of the Transactions set forth
in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.10
<U>Listing of Common Stock</U><FONT STYLE="font-size: 10pt"></FONT>. The Company shall use its best efforts to cause the shares
of Common Stock to be issued in connection with the First Tranche to be listed on Nasdaq, subject to official notice of issuance, prior
to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">5
<U>Conditions to Purchaser&rsquo;s Obligations at the Closing</U><FONT STYLE="font-size: 10pt"></FONT>. The obligations of Purchaser
to purchase the First Tranche Shares at the Closing are subject to the fulfillment, on or before such Closing, of each of the following
conditions, unless otherwise waived:<FONT STYLE="font-size: 10pt"><SUP>20</SUP></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.1
<U>Representations and Warranties</U><FONT STYLE="font-size: 10pt"></FONT>. The representations and warranties of the Company contained
in <U>Section 2.1</U> (Organization, Good Standing Corporate Power and Qualification), <U>Section 2.3</U> (Authorization; Enforceability),
<U>Section 2.4</U> (Valid Issuance of Shares) and <U>Section 2.19</U> (Finders&rsquo; Fees) shall each be true and correct in all material
respects as of the Closing Date as though made on the Closing Date, except to the extent that any such representation and warranty expressly
speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date. The representations
and warranties of the Company contained in <U>Section 2.2</U> (Capitalization), shall each be true and correct in all respects other
than <I>de minimis</I> inaccuracies as of the Closing Date as though made on the Closing Date, except to the extent that any such representation
and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such
earlier date. All other representations and warranties of the Company contained in this Agreement shall be true and correct (without
giving any effect to any limitation as to &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; or any similar limitation
set forth therein) in all respects as of the Closing Date, as though made on and as of the Closing Date, except (a) to the extent that
any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be
true and correct as of such earlier date and (b) where the failure of such representations and warranties to be true and correct (whether
as of the Closing Date or such earlier date), taken as a whole, does not result in a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.2
<U>Performance</U><FONT STYLE="font-size: 10pt"></FONT>. The Company shall have performed and complied with, in all material respects,
all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with
by the Company on or before the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.3
<U>Compliance Certificate</U><FONT STYLE="font-size: 10pt"></FONT>. An executive officer of the Company shall deliver to the Purchaser
at the Closing a certificate certifying that the conditions specified in <U>Section 5.1</U> and <U>Section 5.2</U> have been fulfilled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.4
<U>Qualifications</U><FONT STYLE="font-size: 10pt"></FONT>. All authorizations, approvals or permits, if any, of any Governmental
Authority or regulatory body of the United States or of any state that are required in connection with the lawful issuance and sale of
the First Tranche Shares pursuant to this Agreement shall be obtained and effective as of such Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.5   <U>No
Order</U>. No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law, rule, regulation, judgment,
decree, executive order or award which is then in effect and has the effect of making the Transactions illegal or otherwise prohibiting
consummation of the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.6   <U>Material
Adverse Effect</U>. No Material Adverse Effect shall have occurred between the date of this Agreement and the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.7 <U>Support
and Restrictive Covenant Agreement</U><FONT STYLE="font-size: 10pt"></FONT>. The Support and Restrictive Covenant Agreement shall be
in full force and effect without modification, alteration, recission or suspension of any kind.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.8
<U>TDI Filing</U><FONT STYLE="font-size: 10pt"></FONT>. TDI Filing shall have been filed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.9
<U>Listing of Common Stock</U><FONT STYLE="font-size: 10pt"></FONT>. The shares of Common Stock issuable in the First Tranche pursuant
to this Agreement shall have been approved for listing on Nasdaq, subject to official notice of issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">6
<U>Conditions of the Company&rsquo;s Obligations at the Closing</U><FONT STYLE="font-size: 10pt"></FONT>. The obligations of the
Company to sell the First Tranche Shares to Purchaser at the Closing are subject to the fulfillment, on or before such Closing, of each
of the following conditions, unless otherwise waived:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.1
<U>Representations and Warranties</U><FONT STYLE="font-size: 10pt"></FONT>. The representations and warranties of Purchaser contained
in <U>Section 3.1</U> (Organization, Good Standing Corporate Power and Qualification), <U>Section 3.2</U> (Authorization; Enforceability)
and <U>Section 3.12</U> (Finders&rsquo; Fees) shall each be true and correct in all material respects as of the Closing Date as though
made on the Closing Date, except to the extent that any such representation and warranty expressly speaks as of an earlier date, in which
case such representation and warranty shall be true and correct as of such earlier date. All other representations and warranties of
Purchaser contained in this Agreement shall be true and correct (without giving any effect to any limitation as to &ldquo;materiality&rdquo;
or &ldquo;Purchaser Material Adverse Effect&rdquo; or any similar limitation set forth therein) in all respects as of the Closing Date,
as though made on and as of the Closing Date, except (a) to the extent that any such representation and warranty expressly speaks as
of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date and (b) where the
failure of such representations and warranties to be true and correct (whether as of the Closing Date or such earlier date), taken as
a whole, does not result in a Purchaser Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.2
<U>Performance</U><FONT STYLE="font-size: 10pt"></FONT>. Purchaser shall have performed and complied with, in all material respects,
all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with
by Purchaser on or before the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.3   <U>Compliance
Certificate</U>. An executive officer of Purchaser shall deliver to the Company at the Closing a certificate certifying that the conditions
specified in <U>Section 6.1</U> and <U>Section 6.2</U> have been fulfilled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.4
<U>Qualifications</U><FONT STYLE="font-size: 10pt"></FONT>. All authorizations, approvals or permits, if any, of any Governmental
Authority or regulatory body of the United States or of any state that are required in connection with the lawful issuance and sale of
the First Tranche Shares pursuant to this Agreement shall be obtained and effective as of such Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.5   <U>No
Order</U>. No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law, rule, regulation, judgment,
decree, executive order or award which is then in effect and has the effect of making the Transactions illegal or otherwise prohibiting
consummation of the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.6   <U>Purchaser
Material Adverse Effect</U>. No Purchaser Material Adverse Effect shall have occurred between the date of this Agreement and the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">7.   <U>Termination;
Effect of Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.1   <U>Termination
by Mutual Consent</U>. This Agreement may be terminated at any time prior to the Closing Date by mutual written consent of Purchaser and
the Company (acting upon the recommendation of the Special Committee).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.2   <U>Termination
by Either Purchaser or the Company</U>. This Agreement may be terminated by either Purchaser or the Company (acting upon the recommendation
of the Special Committee) at any time prior to the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   if
the First Tranche has not been consummated by the Outside Date, except that the right to terminate this Agreement under this <U>Section
7.2(a)</U> shall not be available to any Party whose failure to fulfill any of its obligations has been a principal cause of, or resulted
in, the failure to consummate the First Tranche by such date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
any Laws effected after the date of this Agreement should prohibit consummation of the First Tranche; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   if
(i) any Orders issued by a court of competent jurisdiction shall restrain, enjoin or otherwise prohibit consummation of the First Tranche,
and (ii) such Orders shall have become final and non-appealable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.3
<U>Termination by Purchaser</U><FONT STYLE="font-size: 10pt"></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   This
Agreement may be terminated by Purchaser at any time prior to the Closing Date if the Company shall have breached any of its representations,
warranties, covenants or agreements contained in this Agreement, which breach (i) would give rise to the failure of a condition set forth
in <U>Section 5.1</U> or <U>Section 5.2</U> and (ii) has not been cured by the Company within thirty (30) Business Days after the Company&rsquo;s
receipt of written notice of such breach from Purchaser; provided, that Purchaser shall not have a right to terminate this Agreement pursuant
to this <U>Section 7.3</U> if Purchaser is then in material breach of any representation, warranty, agreement or covenant contained in
this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
the Second Tranche Agreement has been terminated in accordance with its terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.4
<U>Termination by the Company</U><FONT STYLE="font-size: 10pt"></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   This
Agreement may be terminated by the Company prior to the Closing if the Special Committee shall determine that Purchaser shall have breached
any of its representations, warranties, covenants or agreements contained in this Agreement, which breach (i) would give rise to the failure
of a condition set forth in <U>Section 6.1</U> or <U>Section 6.2</U> and (ii) has not been cured by Purchaser within thirty (30) Business
Days after Purchaser&rsquo;s receipt of written notice of such breach from the Company; provided, that the Company shall not have a right
to terminate this Agreement pursuant to this <U>Section 7.4</U> if the Company is then in material breach of any representation, warranty,
agreement or covenant contained in this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
the Second Tranche Agreement has been terminated in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.5   <U>Effect
of Termination</U>. If this Agreement is terminated pursuant to this <U>Article 7</U>, it shall, to the fullest extent permitted by applicable
Laws, become void and of no further force and effect, with no Liability on the part of any Party (or any partner, stockholder, director,
officer, employee, agent or representative of any such Party), except that if such termination results from fraud or the willful failure
of any Party to perform its obligations under this Agreement, then such Party shall be fully liable for any Liabilities incurred or suffered
by the other Parties as a result of such failure or breach. In determining Liabilities recoverable upon termination by a Party for the
other Party&rsquo;s breach, such Liabilities shall not be limited to reimbursement of expenses or out-of-pocket costs and may include
the benefit of the bargain lost by such Party or, in the case of the Company, the holders of Common Stock, which shall be deemed to be
damages payable to such Party. The provisions of this <U>Section 7.5</U>, <U>Section 7.3</U>, <U>Section 7.6</U> and <U>Article 8</U>
shall survive any termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.6   <U>Fees
and Expenses Following Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Except
as otherwise expressly provided in this Agreement, all fees, costs and expenses incurred in connection with this Agreement and the Transactions
and the other transactions contemplated by this Agreement shall be borne by the Party incurring such fees, costs and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   The
Parties acknowledge that (i) the agreements contained in this <U>Section 7.6</U> are an integral part of the Transactions and the other
transactions contemplated by this Agreement and (ii) without these agreements, Purchaser, on one hand, and the Company, on the other hand,
would not have entered into this Agreement. Accordingly, if either Party fails to pay when due any amounts required to be paid by it pursuant
to this <U>Section 7.6</U> and, in order to obtain such payment, the other Party commences an Action which results in a judgment against
Purchaser or the Company, as the case may be, for such amounts, then, in addition to the amount of such judgment, the applicable Party
shall pay to the other Party an amount equal to the fees, costs and expenses (including reasonable attorneys&rsquo; fees, costs and expenses)
incurred by such Party in connection with such Action, together with interest from the date of termination of this Agreement on all amounts
so owed at the prime rate as published in the Wall Street Journal in effect on the date such payment was required to be made plus three
percent (3%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.7   <U>Extension;
Waiver</U>. At any time prior to the Closing, each of Purchaser and the Company (acting on the recommendation of the Special Committee)
may (a) extend the time for the performance of any of the obligations of any other Party, (b) waive any inaccuracies in the representations
and warranties of any other Party contained in this Agreement or in any document delivered under this Agreement or (c) subject to applicable
Laws, waive compliance with any of the covenants or conditions contained in this Agreement. Any agreement on the part of any Party to
any extension or waiver shall be valid only if set forth in an instrument in writing signed by such Party. The failure of any Party to
assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></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; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">8.
<U>Miscellaneous</U><FONT STYLE="font-size: 10pt"></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.1
<U>Defined Terms Used in this Agreement</U><FONT STYLE="font-size: 10pt"></FONT>. In addition to the terms defined elsewhere in
this Agreement, the following terms used in this Agreement shall be construed to have the meanings set forth or referenced below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Action</B>&rdquo;
has the meaning set forth in <U>Section 2.14</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Advisory
Client</B>&rdquo; means any Person to which Company Financial Advisor provides Investment Advisory Services (or sub-advisory services)
pursuant to an Advisory Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Advisory
Contract</B>&rdquo; means an investment advisory agreement entered into by a Company Financial Advisor or any of its Company Subsidiaries
with a Client for the purpose of providing Investment Advisory Services to such Client.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Affiliate</B>&rdquo;
means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common
control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person,
or any venture capital fund or registered investment company now or hereafter existing that is controlled by one or more general partners,
managing members or investment advisers of, or shares the same management company or investment adviser with, such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Agreement</B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Alternative
Proposal</B>&rdquo; means any proposal or offer relating to (i) a merger, consolidation, share exchange or business combination involving
the Company or any of its Subsidiaries, (ii) a sale, lease, exchange, mortgage, transfer or other disposition, in a single transaction
or series of related transactions, of ten percent (10%) or more of the assets of the Company and its Subsidiaries, taken as a whole,
(iii) a purchase or sale of shares of capital stock or other securities, in a single transaction or a series of related transactions,
representing ten percent (10%) or more of the voting power of the capital stock of Company or any of its Subsidiaries, including by way
of a tender offer or exchange offer, (iv) a reorganization, recapitalization, liquidation or dissolution of the Company or any of its
Subsidiaries or (v) any other transaction having a similar effect to those described in clauses (i) - (iv) or that would prevent or materially
impede or delay the consummation of the Closing, in each case, other than the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Ancillary
Agreements</B>&rdquo; means, collectively, the Stockholders Agreement, the Registration Rights Agreement, the Support and Restrictive
Covenant Agreement, the Fee Sharing Agreement and all other agreements, certificates and instruments executed and delivered by the Company
and Purchaser in connection with the Transactions and expressly contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Anti-Corruption
Laws</B>&rdquo; has the meaning set forth in <U>Section 2.12(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Board</B>&rdquo;
has the meaning set forth in the Recitals<U STYLE="text-decoration: none">.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Data</B>&rdquo; means all business information and data, including Personal Information (whether of employees, contractors, consultants,
customers, consumers, or other persons and whether in electronic or any other form or medium) that is accessed, collected, used, processed,
stored, shared, distributed, transferred, disclosed, destroyed, or disposed of by any of the Business Systems, Products or otherwise
in the course of the conduct of the business of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></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; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Day</B>&rdquo; means any day that is not a Saturday, Sunday or other day on which banks are required or authorized to be closed in New
York City, New York and Seoul, Republic of Korea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Systems</B>&rdquo; mean all software, computer hardware (whether general or special purpose), electronic data processing, information,
record keeping, communications, telecommunications, networks, interfaces, platforms, servers, peripherals, and computer systems, including
any outsourced systems and processes, that are owned by, or used in the conduct of the business of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>CFIUS</B>&rdquo;
means the Committee on Foreign Investment in the United States, and each member agency thereof acting on its behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Client</B>&rdquo;
means any client or customer of a Company Financial Advisor or any of its Company Subsidiaries, including for the Investment Advisory
Services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Closing</B>&rdquo;
has the meaning set forth in <U>Section 1.1(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Closing
Date</B>&rdquo; means the date on which the Closing occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Code</B>&rdquo;
means the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Commerce</B>&rdquo;
has the meaning set forth in <U>Section 2.12(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Common
Stock</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Broker Dealers</B>&rdquo; means Muriel Siebert &amp; Co., Inc., a Delaware corporation, and RISE Financial Services, LLC, a Delaware
limited liability company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Disclosure Schedule</B>&rdquo; has the meaning set forth in <U>Article 2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Financial Advisor</B>&rdquo; means Siebert AdvisorNXT, Inc., a New York corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Group</B>&rdquo; means the Company and each of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Licensed IP</B>&rdquo; means all Intellectual Property Rights owned or purported to be owned by a third-party and licensed to the Company
or any of its Subsidiaries or to which the Company or any of its Subsidiaries otherwise has a right to use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Organizational Documents</B>&rdquo; has the meaning set forth in <U>Section 2.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Owned IP</B>&rdquo; means any and all Intellectual Property Rights that are owned or purported to be owned by the Company or any of its
Subsidiaries (including any and all Company Registered IP).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Permits</B>&rdquo; has the meaning set forth in <U>Section 2.16</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Registered IP</B>&rdquo; means all U.S. and foreign: (i) Patents; (ii) registrations and applications for Trademarks; (iii) copyrights
registrations and applications therefor; (iv) registered mask works and applications to register mask works; and (v) Domain Name registrations;
in each of the foregoing (i) - (v) owned, filed in the name of, or applied for by the Company or any of its Subsidiaries with a Governmental
Authority or domain name registrar, whether alone or jointly with others, but in all cases, excluding any items that are abandoned, expired,
cancelled, withdrawn, or refused.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
SEC Reports</B>&rdquo; has the meaning set forth in <U>Section 2.6(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Waiving Parties</B>&rdquo; has the meaning set forth in <U>Section 8.13(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Website</B>&rdquo; means all websites owned, operated or hosted by or on behalf of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Confidentiality
Agreement</B>&rdquo; has the meaning set forth in <U>Section 4.6(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Contract</B>&rdquo;
means, with respect to any Person, any contract, lease, license, indenture, note, agreement or other legally binding instrument to which
such Person or its Subsidiaries is a party or by which any of their respective properties, rights or assets is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>COVID-19</B>&rdquo;
means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>COVID-19
Measures</B>&rdquo; means any quarantine, &ldquo;shelter in place,&rdquo; &ldquo;stay at home,&rdquo; workforce reduction, face covering,
personal protective equipment, social distancing, delay, shut down (including, the shutdown of air cargo routes, shut down of foodservice
or certain business activities), closure, sequester, safety or similar Law, directive, guidelines or recommendations promulgated by any
health organization or Governmental Authority, including with respect to the United States, the Centers for Disease Control and Prevention
and the World Health Organization, in each case, in connection with or in response to COVID-19, including the CARES Act and Families
First Act, and any future Law, directive, guidelines or recommendations promulgated by any Governmental Authority in connection with
or in response to COVID-19.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Customs
&amp; International Trade Laws</B>&rdquo; has the meaning set forth in <U>Section 2.12(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Disqualification
Event</B>&rdquo; has the meaning set forth in <U>Section 3.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Dollars</B>&rdquo;
or &ldquo;<B>$</B>&rdquo; means dollars of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Effect</B>&rdquo;
means any event, occurrence, fact, condition, change, development, circumstance or effect or cause thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Effective
Date</B>&rdquo; has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Employee
Plan</B>&rdquo; means each &ldquo;employee benefit plan,&rdquo; as defined in Section 3(3) of ERISA (whether or not subject to ERISA)
and each other written or unwritten plan, agreement, policy or other arrangement involving compensation (other than workers&rsquo; compensation,
unemployment compensation and other government programs), employment, severance, consulting, disability benefits, supplemental unemployment
benefits, vacation benefits, retirement benefits, deferred compensation, profit-sharing, bonuses, equity-based awards, other forms of
incentive compensation, post-retirement insurance benefits, employee loans, or other material benefits, entered into, maintained or contributed
to by the Company or any of its Subsidiaries or with respect to which the Company or any of its Subsidiaries has or is reasonably expected
to have any Liability, including due to an ERISA Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Employment
Matters</B>&rdquo; has the meaning set forth in <U>Section 2.9(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Environmental
Laws</B>&rdquo; means any United States federal, state or local or non-United States Laws relating to: (a) releases or threatened releases
of Hazardous Substances or materials containing Hazardous Substances; (b) the manufacture, handling, presence in the fabric of any building,
transport, use, treatment, storage or disposal of Hazardous Substances or materials containing Hazardous Substances; or (c) pollution,
contamination or protection of the environment or natural resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Environmental
Permits</B>&rdquo; has the meaning set forth in <U>Section 2.25</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>ERISA</B>&rdquo;
means the Employee Retirement Income Security Act of 1974, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>ERISA
Affiliate</B>&rdquo; means any Person that, together with the Company or any of its Subsidiaries, would be deemed a &ldquo;single employer&rdquo;
within the meaning of Section 414(b), (c), (m) or (o) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Exchange
Act</B>&rdquo; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Fee
Sharing Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>FINRA</B>&rdquo;
means the Financial Industry Regulatory Authority and any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>First
Tranche Purchase Price</B>&rdquo; has the meaning set forth in <U>Section 1.1(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>First
Tranche Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Form
BD Amendment</B>&rdquo; has the meaning set forth in <U>Section 2.20(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Fully-Diluted
Basis</B>&rdquo; means, with respect to the calculation of the number of outstanding equity securities of the Company, the sum of (a)
the aggregate number of shares of Common Stock issued and outstanding immediately prior to the Closing Date, (b) the aggregate number
of shares of Common Stock issuable upon exercise or conversion of any outstanding securities of the Company that are exercisable for
or convertible into Common Stock, including any options, warrants, convertible notes or other convertible instruments of the Company,
(c) the aggregate number of shares of Common Stock issuable upon vesting and settlement of any Company&rsquo;s restricted stock units
and (d) the aggregate number of shares of Common Stock issuable upon exercise of any other Company&rsquo;s convertible instruments issued,
issuable or reserved for issuance under the Employee Plan or any other similar plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Fund</B>&rdquo;
means any Public Fund, Private Fund or Non-U.S. Retail Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>GAAP</B>&rdquo;
means United States generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Gebbias</B>&rdquo;
means, collectively, John Gebbia, Gloria Gebbia, Richard Gebbia, John M. Gebbia, David Gebbia, Kimberly Gebbia and John &amp; Gloria
Gebbia Living Trust, and any additional members of the Gebbia family who enters into, becomes a party to, or otherwise becomes bound
by the terms of, the Support and Restrictive Covenant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Governmental
Authority</B>&rdquo; means any federal, state, local or non-U.S. governmental or regulatory authority, agency, department, commission
or administration or any court, tribunal or judicial or arbitral body or department in any jurisdiction or a legal entity that is owned
or controlled by a Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Hazardous
Substance(s)</B>&rdquo; means those polluting or contaminating substances defined in or regulated under the following United States federal
statutes and their state counterparts, as each may be amended from time to time, and all regulations thereunder: the Hazardous Materials
Transportation Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability
Act, the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal Insecticide, Fungicide, and Rodenticide Act
and the Clean Air Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Indebtedness</B>&rdquo;
means for any person and its Subsidiaries, on a consolidated basis, an amount equal to, without duplication, (i) indebtedness for borrowed
money of such person and its Subsidiaries, including indebtedness evidenced by any note, bond, debenture, mortgage, letter of credit,
performance bond or other debt instrument or debt security, (ii) net obligations of such person and its Subsidiaries in respect of interest
rate swaps, hedges or similar arrangements, including any swaps, hedges or similar arrangements related to foreign exchange (other than
any such amounts that are accounted for (in accordance with applicable accounting standards) as working capital current liabilities),
(iii) obligations of such person and its Subsidiaries under capitalized leases, (iv) any deferred purchase price liabilities such person
and its Subsidiaries related to past acquisitions, whether or not represented by a note, earn-out or contingent purchase payment or otherwise
(other than any such amounts that are accounted for (in accordance with applicable accounting standards) as working capital current liabilities),
(v) obligations of such person and its Subsidiaries under or in connection with off balance sheet financing arrangements, and (vi) all
amounts (including for the avoidance of doubt, the principal amounts, plus any related accrued and unpaid interest, fees and prepayment
premiums or penalties) and obligations of the type referred to in the foregoing clauses of this definition of other persons for the payment
of which such person is responsible or liable, as obligor, guarantor, surety or otherwise, including any guarantee of such obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Insurance
Contracts</B>&rdquo; has the meaning set forth in <U>Section 2.24(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Insurance
License</B>&rdquo; has the meaning set forth in <U>Section 2.24(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Insurance
Regulator</B>&rdquo; means the Governmental Authority charged with supervision of insurance and reinsurance companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Intellectual
Property Rights</B>&rdquo; means all common law and statutory rights in any jurisdiction throughout the world in, arising out of, or
associated with: (i) patents and utility models and applications therefor and all reissues, divisions, re-examinations, renewals, extensions,
provisionals, continuations and continuations-in-part thereof (&ldquo;<U>Patents</U>&rdquo;); (ii) trade secrets, confidential information,
or proprietary information; (iii) copyrights, copyrights registrations, mask works, and applications therefor, and all other rights corresponding
thereto throughout the world; (iv) domain names and uniform resource locators (&ldquo;<U>Domain Names</U>&rdquo;); (v) industrial designs;
(vi) trade names, logos, common law trademarks and service marks, any registrations or applications therefor, and related goodwill (&ldquo;<U>Trademarks</U>&rdquo;);
(vii) all rights in databases and data collections; (viii) all moral and economic rights of authors and inventors, however denominated;
(ix) any similar or equivalent rights to any of the foregoing (as applicable); (x) copies and tangible embodiments of any of the foregoing,
in whatever form or medium, including Software and Technology; and (xi) all legal rights arising from items (i) through (x), including
the right to prosecute and perfect such interests and rights to sue, oppose, cancel, interfere and enjoin based upon such interests,
including such rights based on past infringement, if any, in connection with any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>International
Employee Plan</B>&rdquo; means any Employee Plan that is maintained in a jurisdiction outside of the United States for the benefit of
employees, independent contractors, consultants and/or directors located in such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Advisers Act</B>&rdquo; means the Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Advisory Services</B>&rdquo; means investment management or investment advisory services, including any subadvisory services, that involve
acting as an &ldquo;investment adviser&rdquo; within the meaning of the Investment Advisers Act or other applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Company Act</B>&rdquo; means the Investment Company Act of 1940, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>IRS</B>&rdquo;
means the United States Internal Revenue Service, or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Knowledge
of the Company</B>&rdquo; (or any formulation herein expressly referencing &ldquo;knowledge&rdquo; of the Company) means the actual knowledge
of the Company&rsquo;s Chief Executive Officer, the Company&rsquo;s Chief Operating Officer, Chief Financial Officer, and John M. Gebbia,
after reasonable due inquiry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>KSC</B>&rdquo;
means Kakaopay Securities Corp., a Korean corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Law</B>&rdquo;
means any law (including common law), ordinance, writ, statute, treaty, rule, code, regulation or directive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Leased
Real Property</B>&rdquo; has the meaning set forth in <U>Section 2.25(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Liability</B>&rdquo;
means any obligation or liability (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether
accrued or unaccrued, whether liquidated or unliquidated, whether determined, determinable or otherwise and whether due or to become
due).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Lien</B>&rdquo;
means, with respect to any asset, any mortgage, lien, pledge, charge, hypothecation, claim, encroachment, easement, real property title
defect, adverse claim, option, security interest or encumbrance of any kind with respect to such asset. For the avoidance of doubt, the
license or other grant of rights with respect to Intellectual Property Rights, in and of itself, shall not be deemed to be a Lien.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Material
Adverse Effect</B>&rdquo; means an Effect that, individually or in the aggregate, with all other Effects, has had or would reasonably
be expected to have a material adverse effect on (a) the business, condition (financial or otherwise), assets, Liabilities or results
of operation of the Company and its Subsidiaries, taken as a whole, or (b) the ability of the Company to perform its obligations under
this Agreement and to consummate the Transactions; <U>provided</U>, <U>however</U>, that, for the purposes of the foregoing clause (a),
in no event will any of the following be deemed, either alone or in combination, to constitute, or be taken into account in determining
whether there has been or will be, a Material Adverse Effect: any adverse Effect attributable to: (i) operating, business, regulatory
or other conditions (financial or otherwise) generally effecting the industries in which the Company or its Subsidiaries operate; (ii)
general economic conditions, including changes in the credit, securities, currency, banking, exchange, debt, financial or capital markets
(including changes in interest or exchange rates), in each case, in the United States, including any suspension of trading in securities
(whether equity, debt, derivative or hybrid securities) generally on any securities exchange or over-the-counter market operating in
the United States; (iii) any stoppage or shutdown of any Governmental Authority (including any default by a Governmental Authority or
delays in payments or delays or failures to act by any Governmental Authority), or any continuation of any such stoppage or shutdown;
(iv) the announcement or negotiation or pendency or consummation of the Transactions (including the identity of Purchaser or any communication
by Purchaser or any of its Affiliates regarding its plans or intentions with respect to the business of the Company or any of its Subsidiaries)
or the taking of any action required by this Agreement and the other agreements contemplated hereby, including the completion of the
Transactions; (v) any actions taken, or failures to take action, or such other changes or events, in each case, which Purchaser has requested
in writing or to which it has consented in writing, in each case, after the date of this Agreement; (vi) changes in GAAP or other accounting
requirements or principles or any changes in applicable Laws or the interpretation thereof or other legal or regulatory conditions; (vii)
the failure of the Company or its Subsidiaries to meet or achieve the results set forth in any internal or budget, plan, projection,
prediction or forecast (although the underlying facts and circumstances resulting in such failure shall be taken into account unless
otherwise excluded under <U>clauses (i)</U> through <U>(vi)</U> or <U>(viii)</U> through <U>(x)</U> of this definition); (viii) global,
national or regional political, financial, economic or business conditions, including hostilities, acts of war, sabotage or terrorism
or military actions or any escalation, worsening or diminution of any such hostilities, acts of war, sabotage or terrorism or military
actions existing or underway; (ix) effects arising from or relating to epidemics, pandemics, or disease outbreaks, including COVID-19
or any COVID-19 Measures; or (x) hurricanes, earthquakes, floods, tsunamis, tornadoes, mudslides, wild fires, or other natural disasters
and other force majeure events in the United States or any other country or region in the world or (xi), in each case with respect to
any of the foregoing clauses (i), (ii), (iii), (vi), (viii), (ix) or (x), to the extent such change does not disproportionately affect
the Company and its Subsidiaries, taken as a whole, relative to other similarly situated companies in the industries in which the Company
and its Subsidiaries operate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Material
Contract</B>&rdquo; has the meaning set forth in <U>Section 2.7(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Nasdaq</B>&rdquo;
has the meaning set forth in <U>Section 2.5.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Non-U.S.
Retail Fund</B>&rdquo; means each vehicle for collective investment in whatever form of organization, including the form of a corporation,
company, limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series
of any of the foregoing (a) that is registered or authorized by a non-U.S. Governmental Authority in the jurisdiction in which it is
established, and (b) for which the Company or any of its Subsidiaries acts as the sponsor, general partner, managing member, trustee,
investment manager, investment adviser, sub-adviser or in a similar capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>OFAC</B>&rdquo;
has the meaning set forth in <U>Section 2.12(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Open
Source Software</B>&rdquo; means any software that is licensed pursuant to: (a) any license that is a license now or in the future approved
by the Open Source Initiative and listed at http://www.opensource.org/licenses, which licenses include all versions of the GNU General
Public License (GPL), the GNU Lesser General Public License (LGPL), the GNU Affero GPL, the MIT license, the Eclipse Public License,
the Common Public License, the CDDL, the Mozilla Public License (MPL), the Artistic License, the Netscape Public License, the Sun Community
Source License (SCSL), and the Sun Industry Standards License (SISL); or (b) any license to software that is considered &ldquo;free&rdquo;
or &ldquo;open source software&rdquo; by the Free Software Foundation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Order</B>&rdquo;
has the meaning set forth in <U>Section 2.14</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Outside
Date</B>&rdquo; means May 27, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Owned
Real Property</B>&rdquo; has the meaning set forth in <U>Section 2.25(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Park
Wilshire</B>&rdquo; means Park Wilshire Companies, Inc., a Texas corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Permitted
Lien</B>&rdquo; means all: (i) Liens for Taxes or other governmental charges not yet due or payable or for which adequate reserves in
accordance with GAAP are reflected on the financial statements of the Company included in the Company SEC Reports; (ii) mechanics&rsquo;,
carriers&rsquo;, workers&rsquo;, repairers&rsquo;, landlords&rsquo; and similar statutory Liens arising or incurred in the ordinary course
of business; (iii) covenants, conditions, restrictions, easements, rights of way, defects, imperfections, irregularities of title or
other, similar encumbrances, including those identified on title policies or preliminary title reports, affecting Owned Real Property
or Leased Real Property, that (i) do not constitute a Lien securing the payment of a sum of money, (ii) are not violated, and (iii) do
not and would not reasonably be expected to, individually or in the aggregate, materially impair the value, use or occupancy of any such
property, or otherwise materially impair the business operations (as currently conducted and consistent with past practice) at such property;
(iv) Liens that shall be released prior to or as of the Closing; (v) Liens created by or through Purchaser or any of its Affiliates;
(vi) rights, interests, Liens or titles of, or through, a licensor, sublicensor, licensee, sublicensee, lessor or sublessor under any
license, lease or other similar agreement granted by the Company and disclosed to Purchaser, or in the property being leased or licensed
thereby; (vii) zoning, building, entitlement and other land use and environmental regulations promulgated by any Governmental Authority
that are not violated by the current use (consistent with past practice) of any real property of the Company or any of its Subsidiaries
and which do not materially detract from the value of such real property; and (viii) statutory or contractual Liens of lessors or Liens
on the lessor&rsquo;s or prior lessor&rsquo;s interests related to any lease of the Company or any of its Subsidiaries relating to any
real property that do not materially interfere with the present uses (consistent with past practice) of such real property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Person</B>&rdquo;
means any individual, corporation, partnership, trust, limited liability company, association or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Personal
Information</B>&rdquo; means (i) information related to an identified or identifiable individual (e.g., name, address telephone number,
email address, financial account number, government-issued identifier), (ii) any other data used or intended to be used or which allows
one to identify, contact, or precisely locate an individual, including any internet protocol address or other persistent identifier,
and (iii) any other, similar information or data, each to the extent defined as &ldquo;personal data,&rdquo; &ldquo;personal information,&rdquo;
&ldquo;personally identifiable information&rdquo; or similar terms by applicable Privacy/Data Security Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Privacy/Data
Security Laws</B>&rdquo; means all applicable Laws governing the receipt, collection, use, storage, processing, sharing, security, disclosure,
or transfer of Personal Information or the security of Personal Information or Business Data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Privacy
and Data Security Requirements</B>&rdquo; means all (i) Privacy/Data Security Laws; (ii) rules or other requirements of industry self-regulatory
programs or standards including the Payment Card Industry Data Security Standard (PCI DSS), and industry requirements; (iii) provisions
of any Contracts to which any the Company or any of its Subsidiaries is bound imposing obligations with respect to the collection, use,
security, or transfer of Personal Information or Business Data held or processed by or on behalf of the Company or any of its Subsidiaries;
or (iv) privacy or data security policies (including statements on Company Websites) with which the Company or any of its Subsidiaries
has been or is contractually obligated to comply, whether policies of Company, any of its Subsidiaries or any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Private
Fund</B>&rdquo; means each vehicle for collective investment (in whatever form of organization, including the form of a corporation,
company, limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series
of any of the foregoing) (i) that is not registered with the SEC as an investment company under the Investment Company Act, and (ii)
for which the Company or one or more of its Subsidiaries, acts as the sponsor, general partner, managing member, trustee, investment
manager, investment adviser, sub-adviser, or in a similar capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Products</B>&rdquo;
mean any products (including software programs, mobile and web applications) or services (including interactive or hosted services) licensed,
sold, distributed other otherwise made available by or on behalf of the Company or any of its Subsidiaries, including Siebert AdvisorNXT,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></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; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Public
Fund</B>&rdquo; means each vehicle for collective investment (in whatever form of organization, including the form of a corporation,
company, limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series
of any of the foregoing) (i) that is registered with the SEC as an investment company under the Investment Company Act (including any
business development company regulated as such under the Investment Company Act), and (ii) for which the Company or one or more of its
Subsidiaries acts as the sponsor, general partner, managing member, trustee, investment manager, investment adviser, sub-adviser, or
in a similar capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Disclosure Schedule</B>&rdquo; has the meaning set forth in <U>Article 3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Material Adverse Effect</B>&rdquo; means an Effect that, individually or in the aggregate, with all other Effects, has had or would reasonably
be expected to have a material adverse effect on (a) the business, condition (financial or otherwise), assets, Liabilities or results
of operation of Purchaser, or (b) the ability of Purchaser to perform its obligations under this Agreement and to consummate the Transactions;
<U>provided</U>, <U>however</U>, that, for the purposes of the foregoing clause (a), in no event will any of the following be deemed,
either alone or in combination, to constitute, or be taken into account in determining whether there has been or will be, a Purchaser
Material Adverse Effect: any adverse Effect attributable to: (i) operating, business, regulatory or other conditions (financial or otherwise)
generally effecting the industries in which Purchaser operates; (ii) general economic conditions, including changes in the credit, securities,
currency, banking, exchange, debt, financial or capital markets (including changes in interest or exchange rates), in each case, in the
United States or the Republic of Korea, including any suspension of trading in securities (whether equity, debt, derivative or hybrid
securities) generally on any securities exchange or over-the-counter market operating in the United States or the Republic of Korea;
(iii) any stoppage or shutdown of any Governmental Authority (including any default by a Governmental Authority or delays in payments
or delays or failures to act by any Governmental Authority), or any continuation of any such stoppage or shutdown; (iv) the announcement
or negotiation or pendency or consummation of the Transactions or the taking of any action required by this Agreement and the other agreements
contemplated hereby, including the completion of the Transactions; (v) any actions taken or not taken by Purchaser as required by this
Agreement; (vi) any actions taken, or failures to take action, or such other changes or events, in each case, which the Company has requested
in writing or to which it has consented in writing, in each case, after the date of this Agreement; (vii) changes in GAAP or other accounting
requirements or principles or any changes in applicable Laws or the interpretation thereof or other legal or regulatory conditions; (viii)
global, national or regional political, financial, economic or business conditions, including hostilities, acts of war, sabotage or terrorism
or military actions or any escalation, worsening or diminution of any such hostilities, acts of war, sabotage or terrorism or military
actions existing or underway; (ix) effects arising from or relating to epidemics, pandemics, or disease outbreaks, including COVID-19
or any COVID-19 Measures; or (x) hurricanes, earthquakes, floods, tsunamis, tornadoes, mudslides, wild fires, or other natural disasters
and other force majeure events in the United States or any other country or region in the world or (x), in each case with respect to
any of the foregoing clauses (i), (ii), (iii), (vii), (viii), (ix) or (x), to the extent such change does not disproportionately affect
Purchaser, relative to other similarly situated participants in the industries in which Purchaser operates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser&rsquo;s
Designee</B>&rdquo; has the meaning set forth in <U>Section 4.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Required Approvals</B>&rdquo; means the filing of the overseas direct investment report as required under the Foreign Exchange Transactions
Act of the Republic of Korea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Waiving Parties</B>&rdquo; has the meaning set forth in <U>Section 8.13(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Real
Property Lease</B>&rdquo; has the meaning set forth in <U>Section 2.25(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Registration
Rights Agreement</B>&rdquo; has the meaning set forth in <U>Section 1.2(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Representative</B>&rdquo;
means, with respect to any Person, such Person&rsquo;s directors, managers, officers, employees, investment bankers, attorneys, accountants
and other advisors or representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Sanctions</B>&rdquo;
has the meaning set forth in <U>Section 2.12</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Sarbanes-Oxley
Act</B>&rdquo; has the meaning set forth in <U>Section 2.6(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>SEC</B>&rdquo;
means the United States Securities and Exchange Commission and any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Securities
Act</B>&rdquo; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Service
Agreement</B>&rdquo; means all non-standard employment and consulting contracts or agreements to which the Company is a party, with respect
to which the Company has any severance obligation (and, for the avoidance of doubt, excluding standard form agreements for employees
outside of the United States and contracts or agreements that can be terminated at any time without severance or termination pay and
upon notice of not more than sixty (60) days).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Special
Committee</B>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Stockholders
Agreement</B>&rdquo; has the meaning set forth in <U>Section 1.2(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Subsidiary</B>&rdquo;
means, with respect to any specified Person, any: (i) corporation, fifty percent (50%) or more of the voting or capital stock of which
is, as of the time in question, directly or indirectly owned by such Person; and (ii) partnership, joint venture, association, or other
entity in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity economic interest thereof or has
the power to elect or direct the election of more than fifty percent (50%) of the members of the governing body of such partnership,
joint venture, association or other entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Support
and Restrictive Covenant Agreement</B>&rdquo; means the Support and Restrictive Covenant Agreement to be entered into by each of the Gebbias
and Purchaser concurrently with the execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Taxes</B>&rdquo;
means all federal, state, local, non-U.S. or other taxes of any kind (together with all interest, penalties, additions to tax and additional
amounts imposed with respect thereto) imposed by any Taxing Authority, including taxes, fees or assessments with respect to income, franchises,
premiums or other profits, gross receipts, property, sales, use, capital stock, payroll, employment, social security, workers&rsquo;
compensation or unemployment compensation, and taxes or other similar charges of any kind in the nature of excise, withholding, ad valorem
or value added.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I></I></B></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; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Taxing
Authority</B>&rdquo; means the IRS and any other U.S. or non-U.S. Governmental Authority responsible for the collection of any Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Tax
Period</B>&rdquo; means, with respect to any Tax, the year, or shorter period, if applicable, for which the Tax is reported as provided
under applicable Tax law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Tax
Return</B>&rdquo; means any return, declaration, report, claim for refund or information return, certificate, bill, statement or other
written information required to be filed with any Taxing Authority relating to Taxes, including any supplement, schedule or attachment
thereto, and including any amendment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>TDI</B>&rdquo;
means the Texas Department of Insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>TDI
Filing</B>&rdquo; means the filing of the notice of the change in ownership and control of Park Wilshire contemplated by this Agreement
with TDI pursuant to applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Top
Customers</B>&rdquo; mean the top ten (10) customers of the Company by dollar volume of sales to such customers (in aggregate with their
respective Affiliates) for the fiscal year ended December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Transactions</B>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Treasury
Regulations</B>&rdquo; means the regulations promulgated under the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>WARN
Act</B>&rdquo; means the federal Worker Adjustment and Retraining Notification Act of 1988, and similar state, local and foreign Laws
related to plant closings, relocations, mass layoffs and employment losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.2   <U>Non-Survival
of Representations and Warranties</U>. Except in the case of claims against a Party in respect of such Party&rsquo;s fraud, none of the
representations, warranties, covenants, obligations or other agreements in this Agreement or in any certificate, statement or instrument
delivered pursuant to this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations,
agreements and other provisions, shall survive the Closing and all such representations, warranties, covenants, obligations or other agreements
shall terminate and expire upon the occurrence of the Closing (and there shall be no Liability after the Closing in respect thereof),
except for (a)&nbsp;those covenants and agreements contained herein that by their terms expressly apply in whole or in part after the
Closing and then only with respect to any breaches occurring after the Closing and (b)&nbsp;this <U>Article 8</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.3
<FONT STYLE="background-color: white"><U>Parties in Interest; Successors and Assigns</U></FONT><FONT STYLE="font-size: 10pt"></FONT>.
The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of
the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the Parties or their respective
successors and assigns any rights, remedies, obligations or&nbsp;Liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.4
<FONT STYLE="background-color: white"><U>Governing Law</U></FONT><FONT STYLE="font-size: 10pt"></FONT>. This Agreement shall be
governed by the internal law of the State of New York, without regard to conflict of law principles that would result in the application
of any law other than the law of the State of New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.5
<U>CONSENT TO JURISDICTION</U><FONT STYLE="font-size: 10pt"></FONT>. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK.
EACH PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF
PROCESS UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS
STATED HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO SECTION 8.9 AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.6
<U>WAIVER OF JURY TRIAL</U><FONT STYLE="font-size: 10pt"></FONT>. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY
WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED
AND SOLD PURSUANT HERETO OR THE SUBJECT MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES
THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THESE TRANSACTIONS, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS,
TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY
DISCUSSED BY EACH OF THE PARTIES AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS
THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.7
<U>Counterparts</U><FONT STYLE="font-size: 10pt"></FONT>. This Agreement may be executed in two (2) counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via
facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, <I>e.g.</I>,
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered
and be valid and effective for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.8   <U>Interpretation</U>.
Except where expressly stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement: (a) &ldquo;include&rdquo;,
&ldquo;includes&rdquo; and &ldquo;including&rdquo; are not limiting; (b) &ldquo;hereof&rdquo;, &ldquo;hereto&rdquo;, &ldquo;hereby&rdquo;,
&ldquo;herein&rdquo; and &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement refer to this Agreement as a
whole and not to any particular provision of this Agreement; (c) &ldquo;date hereof&rdquo; refers to the date set forth in the initial
caption of this Agreement; (d) &ldquo;extent&rdquo; in the phrase &ldquo;to the extent&rdquo; means the degree to which a subject or other
thing extends, and such phrase does not mean simply &ldquo;if&rdquo;; (e) descriptive headings, the table of defined terms and the table
of contents are inserted for convenience only and do not affect in any way the meaning or interpretation of this Agreement; (f)&nbsp;definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms; (g)&nbsp;references to a Person
are also to its permitted successors and assigns; (h)&nbsp;references to an &ldquo;Article&rdquo;, &ldquo;Section&rdquo;, &ldquo;Recital&rdquo;,
&ldquo;preamble&rdquo;, &ldquo;Annex&rdquo;, &ldquo;Exhibit&rdquo; or &ldquo;Schedule&rdquo; refer to an article, section, recital or
preamble of, or an annex, exhibit or schedule to, this Agreement; (i)&nbsp;references to &ldquo;$&rdquo; or otherwise to dollar amounts
refer to the lawful currency of the United States; (j)&nbsp;references to a federal, state, local or foreign statute or law include any
rules, regulations and delegated legislation issued thereunder; (k)&nbsp;references to a communication by a regulatory agency include
a communication by the staff of such regulatory agency and (l)&nbsp;references to &ldquo;made available&rdquo; mean made available through
an electronic data room, through EDGAR or otherwise at least twenty-four (24) hours prior to the execution of this Agreement. The language
used in this Agreement shall be deemed to be the language chosen by the Parties hereto to express their mutual intent, and no rule of
strict construction shall be applied against any Party hereto. No summary of this Agreement prepared by any party shall affect the meaning
or interpretation of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.9
<FONT STYLE="background-color: white"><U>Notices</U></FONT>. All notices and other communications given or made pursuant to this Agreement
shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a)&nbsp;personal delivery to the Party
to be notified, (b)&nbsp;when sent, if sent by electronic mail during normal business hours of the recipient, and if not sent during
normal business hours, then on the recipient&rsquo;s next Business Day, (c)&nbsp;five (5) days after having been sent by registered or
certified U.S. mail, return receipt requested, postage prepaid, or (d)&nbsp;one (1) Business Day after deposit with a nationally recognized
overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications shall
be sent to the respective parties at their address as set forth below or such other address for which notice has been given pursuant
to this <U>Section 8.9</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">mth@msk.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to Purchaser:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kakaopay Corporation</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">166 Pangyoyeok-ro, 15th Fl. Tower B,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bundang-gu, Seongnam-si,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gyeonggi-do, Republic of Korea 13529</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: Hochul Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dongyoup Oh</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">simon.shin121@kakaopaycorp.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dwhy.oh@kakaopaycorp.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white"></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 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greenberg Traurig, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">One Vanderbilt Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael D. Helsel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jang H. Yeo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Namoury</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">helselm@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yeoj@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adam.namoury@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shin &amp; Kim LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seoul, Republic of Korea 03155</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Young Joon Park</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hae Seong Ahn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Kang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yjopark@shinkim.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">hseahn@shinkim.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">jameskang@shinkim.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.10
<U>Specific Performance</U><FONT STYLE="font-size: 10pt"></FONT>. The Parties hereto agree that irreparable damage would occur
if any provision of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the Parties hereto
shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions to prevent breaches of this Agreement
or to enforce specifically the performance of the terms and provisions hereof (including the parties&rsquo; obligation to consummate
the First Tranche) in the courts of the State of New York or, if that court does not have jurisdiction, any federal court located in
the State of New York or any other New York state court without proof of actual damages or otherwise, in addition to any other remedy
to which they are entitled at law or in equity as expressly permitted in this Agreement. Each of the parties hereto hereby further waives,
to the fullest extent permitted by applicable Law, (a)&nbsp;any defense in any action for specific performance that a remedy at law would
be adequate and (b)&nbsp;any requirement under any Law to post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.11
<U>Amendments and Waivers</U><FONT STYLE="font-size: 10pt"></FONT>. Any term of this Agreement may be amended, terminated or waived
only with the written consent of the Company (acting on the recommendation of the Special Committee) and Purchaser. Any amendment or
waiver effected in accordance with this <U>Section&nbsp;8.11</U> shall be binding upon Purchaser and each transferee of the First Tranche
Shares, each future holder of all such securities, and the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.12
<U>Severability</U><FONT STYLE="font-size: 10pt"></FONT>. If any term or other provision of this Agreement is invalid, illegal
or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless
remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible
in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.13
<U>Entire Agreement; Assignment</U><FONT STYLE="font-size: 10pt"></FONT>. This Agreement constitutes the full and entire understanding
and agreement between the Parties with respect to the subject matter hereof, and any other written or oral agreement relating to the
subject matter hereof existing between the Parties are expressly canceled, superseded by this Agreement and merged herein. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.14
<U>Legal Representation</U><FONT STYLE="font-size: 10pt"></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company hereby agrees on behalf of its directors, members, partners, officers, employees and Affiliates, and each of their respective
successors and assigns (all such parties, the &ldquo;<U>Company Waiving Parties</U>&rdquo;), that Greenberg Traurig, LLP and Shin &amp;
Kim, LLC may represent Purchaser or its Subsidiaries or any of their respective directors, managers, members, partners, officers, employees
or Affiliates, in each case, in connection with any Action or obligation arising out of or relating to this Agreement, notwithstanding
its representation (or any continued representation) of Purchaser or its Subsidiaries or other Purchaser Waiving Parties, and each of
Purchaser and the Company on behalf of itself and Company Waiving Parties hereby consents thereto and irrevocably waives (and will not
assert) any conflict of interest, breach of duty or any other objection arising therefrom or relating thereto. The Company and Purchaser
acknowledge that the foregoing provision applies whether or not Greenberg Traurig, LLP and Shin &amp; Kim, LLC provides legal services
to any of Purchaser and its Subsidiaries after the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Purchaser
hereby agrees on behalf of its directors, managers, members, partners, officers, employees and Affiliates, and each of their respective
successors and assigns (all such parties, the &ldquo;<U>Purchaser Waiving Parties</U>&rdquo;), that Mitchell Silberberg &amp; Knupp, LLP
and O&rsquo;Melveny &amp; Myers LLP may represent the Company or any of their respective directors, members, partners, officers, employees or
Affiliates, in each case, in connection with any Action or obligation arising out of or relating to this Agreement, notwithstanding its
representation (or any continued representation) of the Company or other Company Waiving Parties, and each of the Company and Purchaser
on behalf of itself and the Purchaser Waiving Parties hereby consents thereto and irrevocably waives (and will not assert) any conflict
of interest, breach of duty or any other objection arising therefrom or relating thereto. Purchaser acknowledges that the foregoing provision
applies whether or not Mitchell Silberberg &amp; Knupp, LLP and O&rsquo;Melveny &amp; Myers provide legal services to the Company after the
Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-weight: normal">[SIGNATURE
PAGE FOLLOWS]</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">IN WITNESS WHEREOF, the
parties have executed this First Tranche Stock Purchase Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Won Keun Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Won Keun Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Executive Officer</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B></B>&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white"><B><U>EXHIBIT
A &ndash; FORM OF STOCKHOLDERS AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">[<I>See attached</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B><U>EXHIBIT B &ndash;
FORM OF REGISTRATION RIGHTS AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">[<I>See attached</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; background-color: white"></P>

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<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>3
<FILENAME>ea177556ex10-29_siebert.htm
<DESCRIPTION>SECOND TRANCHE STOCK PURCHASE AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 10.29</B></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>SECOND TRANCHE
STOCK PURCHASE AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>Dated as of</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>April 27, 2023</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>By</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>and</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>Between</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>SIEBERT FINANCIAL
CORP.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>and</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><FONT STYLE="text-transform: uppercase"><B>Kakaopay
Corporation</B></FONT></P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: transparent"><B>SECOND TRANCHE
STOCK PURCHASE AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">THIS
SECOND TRANCHE STOCK PURCHASE AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;; certain defined terms used in this Agreement are set forth
in <U>Section 8.1</U> hereto) is made as of the 27<SUP>th</SUP> day of April, 2023 <FONT STYLE="font-family: Times New Roman, Times, Serif">(the
&ldquo;<U>Effective Date</U>&rdquo;) </FONT>by and between Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;),
and Kakaopay Corporation, a company established under the Laws of the Republic of Korea (&ldquo;<U>Purchaser</U>&rdquo; and, together
with the Company, the &ldquo;<U>Parties</U>&rdquo; and, each, a &ldquo;<U>Party</U>&rdquo;), with respect to the following.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-variant: small-caps"><B>Recitals</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A. Purchaser
wishes to purchase from the Company and the Company wishes to issue and sell to Purchaser, in two tranches, up to a total of Thirty-Three
Million, Eight Hundred Thirty-Two Thousand, Seventy-Seven (33,832,077) shares of Common Stock, $0.01 par value per share, of the Company
(the &ldquo;<U>Common Stock</U>&rdquo;), on the terms and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">B. Concurrently
with the execution of this Agreement, Purchaser and the Company shall enter into a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a Fully-Diluted Basis (taking into account the issuance of the First Tranche Shares), on the terms
and conditions set forth in the First Tranche Agreement (the &ldquo;<U>First Tranche</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">C. After
receipt of the Requisite Stockholder Approval, the TDI Approval, the FINRA Approvals and the IMA Consents, upon the terms and subject
to the conditions of this Agreement, and subject to the consummation of the First Tranche, Purchaser shall purchase Twenty-Five Million,
Seven Hundred Fifty-Six Thousand, Four Hundred Seventy (25,756,470) shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;)
which, together with the First Tranche Shares, will constitute 51% of the outstanding equity securities of the Company on a Fully-Diluted
Basis (taking into account the issuance of the First Tranche Shares and the Second Tranche Shares) (such purchase, the &ldquo;<U>Second
Tranche</U>&rdquo;, and, together with the First Tranche and the other transactions contemplated hereby, the &ldquo;<U>Transactions</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">D. Pursuant
to the rules of the Nasdaq Capital Market (&ldquo;<U>Nasdaq</U>&rdquo;) upon which the shares of Common Stock are traded, consummation
of the Second Tranche requires the affirmative vote of a majority of the Company&rsquo;s stockholders prior to consummation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">E. Concurrently
with the execution of this Agreement, each of the Gebbias shall enter into a Support and Restrictive Covenant Agreement with Purchaser
(the &ldquo;<U>Support and Restrictive Covenant Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">F. Following
the execution of this Agreement and prior to the Closing, each of the Key Personnel shall enter into an employment agreement (each, an
&ldquo;<U>Employment Agreement</U>&rdquo;) with the Company or Muriel Siebert &amp; Co., Inc., as applicable, and each of the Key Consulting
Personnel shall enter into a consulting agreement (each, a &ldquo;<U>Consulting Agreement</U>&rdquo;) with Muriel Siebert &amp; Co., Inc.,
which shall become effective and conditioned upon the consummation of the Second Tranche.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">G. On
March 23, 2022, the board of directors of the Company (the &ldquo;<U>Board</U>&rdquo;), formed a special committee (the &ldquo;<U>Special
Committee</U>&rdquo;) consisting of three (3) independent directors not affiliated with the Gebbias.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">H. On
April 26, 2023, the Special Committee, after receipt of an opinion from B. Riley Financial, Inc. (&ldquo;<U>B. Riley</U>&rdquo;), to the
effect that, as of the date of such opinion, and based upon and subject to the factors and assumptions set forth therein, the consideration
to be paid by Purchaser to the Company pursuant to the Transactions, taken together, is fair, from a financial point of view, to the Company,
recommended to the Board that it would be in the best interests of the Company and its stockholders to enter into this Agreement and complete
the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent"><FONT STYLE="font-variant: small-caps">I. </FONT>The
whole Board has reviewed and evaluated this Agreement and the Transactions and, based upon the recommendations of the Special Committee,
has determined that execution of this Agreement and consummation of the Transactions, are in the best interests of the Company and its
stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">J. The
whole Board determined and resolved (based upon the recommendation of the Special Committee) to submit the Second Tranche for approval
of the Company&rsquo;s stockholders including Approval by a Majority-of-the-Minority of the Company&rsquo;s Stockholders and, subject
to the terms of this Agreement, to recommend to the Company stockholders that they vote in favor of approval of the Second Tranche.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Now,
therefore, the Parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">1. <U>Purchase
and Sale of Common Stock</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.1 <U>The
Closing</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) Subject
to the terms and conditions of this Agreement, Purchaser agrees to purchase at the Closing, and the Company agrees to issue and sell to
Purchaser the Second Tranche Shares at a per share purchase price of Two Dollars Thirty Five Cents ($2.35) aggregating Sixty Million,
Five Hundred Twenty-Seven, Seven Hundred Five Dollars ($60,527,705), (the aggregate purchase price to be paid pursuant to this <U>Section
1.1(a)</U>, being hereinafter referred to as the &ldquo;<U>Second Tranche Purchase Price</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) The
purchase and sale of the Second Tranche Shares shall take place remotely via the exchange of documents and signatures, within five (5)
Business Days after satisfaction or waiver of the conditions set forth in <U>Article 5</U> and <U>Article 6</U> or at such other time
and place as the Company and Purchaser mutually agree upon, orally or in writing (which time and place are designated as the &ldquo;<U>Closing</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.2
<U>Deliveries at the Closing</U><FONT STYLE="text-decoration: none">. </FONT>At the Closing,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) the
Company shall deliver to Purchaser a certificate (which, for all purposes in this Agreement, may be book-entry security entitlements)
representing the Second Tranche Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Purchaser
shall deliver the Second Tranche Purchase Price by wire transfer of immediately available funds to a bank account designated by the Company;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) the
Company and Purchaser shall deliver the certificates required by <U>Section 5.3</U> and <U>Section 6.3</U>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">1.3 <U>Withholding</U>.
Each Party and any other Person with a withholding obligation under applicable Law shall be entitled to deduct and withhold from amounts
otherwise payable pursuant to this Agreement any amounts as are required to be withheld or deducted with respect to such payment under
the Code or any other applicable Law. To the extent that amounts are so deducted or withheld and remitted to the appropriate Governmental
Authority, such amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such
deduction or withholding was made.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">2.
<U>Representations and Warranties of the Company</U>. The Company hereby represents and warrants to Purchaser that, (a) except as set
forth on the disclosure schedule delivered by the Company to Purchaser concurrently with the execution and delivery of this Agreement
(the &ldquo;<U>Company Disclosure Schedule</U>&rdquo;) (it being agreed that disclosure of any item in any section of the Company Disclosure
Schedule shall be deemed disclosed with respect to any other section or subsection of this Agreement and the Disclosure Schedule to the
extent that the relevance thereof is reasonably apparent on its face), which exceptions shall be deemed to be part of the representations
and warranties made hereunder, or (b) as may be disclosed in the Company SEC Reports filed with or furnished to the SEC prior to the
date of this Agreement (but excluding any forward-looking disclosures set forth in any risk factor section or in the &ldquo;forward-looking
statements&rdquo; section of any Company SEC Report that are non-specific and cautionary in nature) the following representations and
warranties are true and complete as of the date of this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.1
<U>Organization, Good Standing, Corporate Power and Qualification</U>. The Company is a corporation duly organized, validly existing
and in good standing under the laws of the State of New York and has all requisite corporate power and authority to carry on its business
as now conducted and as presently proposed to be conducted. The Company is duly licensed or qualified to do business and in good standing
in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned,
leased or operated by it makes such licensing, qualification or standing necessary, except where the failure to be so licensed or qualified
or to be in good standing would not or reasonably be expected to, either individually or in the aggregate, materially impair the ability
of the Company to conduct the Business as it is currently conducted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.2 <U>Capitalization.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) The
authorized capital stock of the Company consists of 100,000,000 shares of Common Stock of which 32,505,329 shares are issued and outstanding
as of the Effective Date. All of the issued and outstanding shares of the Common Stock have been duly and validly authorized, are fully
paid and nonassessable and not subject to any preemptive rights. There (a) are no outstanding or authorized options, warrants, or other
rights, agreements, arrangements, commitments or any obligation of the Company to issue or sell any of its shares of Common Stock; and
(b) is no obligation of the Company to purchase, redeem or otherwise acquire any shares of its capital stock or any interest therein or
to pay any dividend or make any other distribution in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) All
outstanding shares of Common Stock have been issued and granted in compliance with all applicable securities laws and other applicable
Laws and were issued free and clear of all Liens other than transfer restrictions under applicable securities laws and the Company Organizational
Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) The
Company has not issued any options, warrants, preemptive rights, calls, convertible securities or other rights, agreements, arrangements
or commitments of any character relating to the issued or unissued capital stock of the Company or obligating the Company to issue or
sell any shares of capital stock of, or other equity interests in, the Company. Neither the Company nor any of its Subsidiaries is a party
to, or otherwise bound by, and neither the Company nor any of its Subsidiaries has granted, any equity appreciation rights, participations,
phantom equity or similar rights. The Company is not a party to any voting trusts, voting agreements, proxies, shareholder agreements
or other agreements with respect to the voting or transfer of shares of Common Stock or any of the equity interests or other securities
of the Company or any of its Subsidiaries. There are no outstanding contractual obligations of the Company to repurchase, redeem or otherwise
acquire any shares of Common Stock. There are no outstanding contractual obligations of the Company to make any investment (in the form
of a loan, capital contribution or otherwise) in any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.3
<U>Authorization; Enforceability</U>. The Company has all requisite power and authority to enter into, execute, deliver and perform its
obligations under this Agreement and to consummate the Transactions. The Transactions and the execution, delivery and performance by
the Company of this Agreement and all other agreements, transactions and actions contemplated hereby or thereby, have been duly and validly
approved and authorized by the Company and the Board in accordance with applicable Law and the Company&rsquo;s organizational documents
as currently in effect (including, without limitation, the Company&rsquo;s certificate of incorporation and bylaws, the &ldquo;<U>Company
Organizational Documents</U>&rdquo;), and do not constitute an event of default under any Material Contract. Except for the Requisite
Stockholder Approval, the TDI Approval, the filing of the CMA Applications, the FINRA Approvals and Form BD Amendment, no other approval
of any of the Company&rsquo;s Affiliates or related persons (including equityholders, directors, officers and otherwise) is necessary
for the Company to enter into this Agreement or to consummate the Transactions. This Agreement, when executed and delivered by the Company,
shall constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with its terms except
(a)&nbsp;as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other Laws of general
application relating to or affecting the enforcement of creditors&rsquo; rights generally, or (b) as limited by Laws relating to the
availability of specific performance, injunctive relief, or other equitable remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.4
<U>Valid Issuance of Shares</U>. <FONT STYLE="font-size: 10pt">The Second Tranche Shares, when issued, sold and delivered in accordance
with the terms and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of
restrictions on transfer other than restrictions on transfer under this Agreement, applicable state and federal securities Laws and Liens
or encumbrances created by or imposed by Purchaser. Assuming the accuracy of the representations and warranties of Purchaser in <U>Article
3</U>, the Second Tranche Shares will be issued in compliance with all applicable Laws. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.5
<U>Governmental Consents and Filings</U>. No consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any federal, state or local Governmental Authority is required on the part of the Company in connection with
the consummation of the Transactions, except for (a) compliance with the applicable requirements of the Exchange Act including the filing
of the Company&rsquo;s proxy statement (the &ldquo;<U>Proxy Statement</U>&rdquo;) with respect to the meeting of the Company&rsquo;s
stockholders (the &ldquo;<U>Company Stockholder Meeting</U>&rdquo;) to be held to consider, among other matters, the approval of the
issuance of the Second Tranche Shares upon the terms set forth herein; (b) the TDI Approval, the filing of the CMA Applications, the
FINRA Approvals and Form BD Amendment; (c) compliance with the rules and regulations of Nasdaq; (d) compliance with any applicable foreign
or state securities or &ldquo;blue sky&rdquo; Laws; and (e) receipt of the Requisite Stockholder Approval; and (f) those as to which
requisite consents, approvals, authorizations, permits or actions or waivers thereof have been obtained or requisite filings have been
made or consents or notices have been given, and those the failure of which to make, give or obtain would not (i) have, individually
or in the aggregate, a Material Adverse Effect on the Company or (ii) prevent or materially delay the consummation of the Transactions
or the Company&rsquo;s ability to observe and perform its material obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.6 <U>Reports
and Financial Statements.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) The
Company has filed all forms, reports, statements, certificates and other documents (including all exhibits, amendments and supplements
thereto) required to be filed by it with the SEC since December 31, 2018 (all such forms, reports, statements, certificates and other
documents filed with or furnished to the SEC since December 31, 2018, with any amendments or supplements thereto, collectively, the &ldquo;<U>Company
SEC Reports</U>&rdquo;), each of which, including any financial statements or schedules included therein, as finally amended prior to
the Effective Date, complied as of their respective dates, or if amended or supplemented prior to the Effective Date, as of the date of
the last such amendment or supplement, as to form in all material respects with the applicable requirements of the Securities Act, the
Exchange Act and the Sarbanes-Oxley Act of 2002 (the &ldquo;<U>Sarbanes-Oxley Act</U>&rdquo;) and, in each case, the rules and regulations
of the SEC promulgated thereunder.&nbsp; None of the Company&rsquo;s Subsidiaries is required to file periodic reports with the SEC under
the Securities Act, the Exchange Act, or the Sarbanes-Oxley Act.&nbsp; None of the Company SEC Reports contained, when filed with the
SEC or, if amended, as of the date of such amendment, any untrue statement of a material fact or omitted to state a material fact required
to be stated or incorporated by reference therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Each
of the consolidated financial statements of the Company and its Subsidiaries included (or incorporated by reference) in the Company SEC
Reports (including the related notes and schedules, where applicable) fairly present in all material respects the results of the consolidated
operations and changes in stockholders&rsquo; equity and consolidated financial position of the Company and its Subsidiaries for the respective
fiscal periods or as of the respective dates therein set forth (subject, in the case of unaudited statements, to normal year-end adjustments
and other adjustments described therein, including the notes thereto).&nbsp; Each of such consolidated financial statements (including
the related notes and schedules, where applicable) complied, as of the date of filing, in all material respects with applicable accounting
requirements and with the published rules and regulations of the SEC applicable thereto and each of such financial statements (including
the related notes and schedules, where applicable) were prepared in accordance with GAAP (except, in the case of unaudited statements,
as permitted by the rules and regulations of the SEC) consistently applied during the periods involved, except in each case as indicated
in such statements or in the notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) The
Company has established and maintains disclosure controls and procedures and internal control over financial reporting (as such terms
are defined in paragraphs (e) and (f), respectively, of Rule 13a-15 under the Exchange Act) as required by Rule 13a-15 under the Exchange
Act. The Company&rsquo;s disclosure controls and procedures are reasonably designed to ensure that all material information required to
be disclosed by the Company in the reports that it files or furnishes under the Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the rules and forms of the SEC, and that all such material information is accumulated and communicated
to the Company&rsquo;s management as appropriate to allow timely decisions regarding required disclosure and to make the certifications
required pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8pt; text-align: justify; text-indent: 1in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.7 <U>Material
Contracts</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) Neither
the Company nor any of its Subsidiaries is a party to any Contract required to have been filed with the SEC by the Company as a &ldquo;material
contract&rdquo; pursuant to Item 601(b)(10) of Regulation S-K under the Securities Act that has not been so filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) <U>Section
2.7(b)</U> of the Company Disclosure Schedule lists, as of the date of this Agreement, the following types of contracts and agreements
to which the Company or any of its Subsidiaries is a party (such contracts and agreements as are required to be set forth on <U>Section
2.7(b)</U> of the Company Disclosure Schedule being the &ldquo;<U>Material Contracts</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i) each
contract and agreement (A) with consideration paid or payable to the Company or any of its Subsidiaries of more than $100,000, in the
aggregate, and (B) with suppliers to the Company or any of its Subsidiaries for expenditures paid or payable by the Company or any of
its Subsidiaries of more than $100,000, in the aggregate, in each case over the twelve (12)-month period ending December 31, 2022;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii) each
Advisory Contract or other investment advisory, asset management or similar agreements entered into by the Company and its Subsidiaries,
providing for revenues in excess of $100,000 per annum;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iii) all
broker, distributor, dealer, manufacturer&rsquo;s representative, franchise, agency, sales promotion, market research, marketing consulting
and advertising contracts and agreements to which the Company or any of its Subsidiaries is a party that are material to the business
of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iv) all
Service Agreements and management contracts, including any contracts involving the payment of royalties or other amounts calculated based
upon the revenues or income of the Company or any of its Subsidiaries or income or revenues related to any Product of the Company or any
of its Subsidiaries to which the Company or any of its Subsidiaries is a party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(v) all
Contracts providing for the development of any software or Intellectual Property Rights, independently or jointly, either by or for the
Company or any of its Subsidiaries (other than employee invention assignment agreements and consulting agreements with authors on the
Company&rsquo;s or any of its Subsidiaries&rsquo; standard form of agreement);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vi) all
Contracts evidencing Indebtedness with a principal amount, or involving obligations, in excess of $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vii) all
partnership, joint venture, property management, profit sharing, carry interest or similar Contracts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(viii) all
Contracts with any Governmental Authority to which the Company or any of its Subsidiaries is a party, other than any Company Permits;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ix) all
Contracts that limit, or purport to limit, the ability of the Company or any of its Subsidiaries to compete in any line of business or
with any person or entity or in any geographic area or during any period of time or to hire or retain any person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(x) all
Contracts that result in any person or entity holding a power of attorney from the Company or any of its Subsidiaries that relates to
the Company and its Subsidiaries or their respective businesses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xi) all
leases or master leases of personal property reasonably likely to result in annual payments of $50,000 or more in a twelve (12)-month
period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xii) Contracts
which involve the license or grant of rights to Company Owned IP by the Company or any of its Subsidiaries, but excluding any nonexclusive
licenses (or sublicenses) of Company Owned IP granted to the Company&rsquo;s clients in the ordinary course of business that are substantially
in the same form as the Company&rsquo;s or its Subsidiaries&rsquo; standard form Advisory Contracts as have been provided to Purchaser;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xiii) any
&ldquo;material contract&rdquo; (as such term is defined in Item 601(b)(10) of Regulation S-K under the Securities Act) or any other contract
that is material to the Company and its Subsidiaries, taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) (i)
Each Material Contract is a legal, valid and binding obligation of the Company or any of its Subsidiaries party thereto and, to the Knowledge
of the Company, is enforceable in accordance with its terms against the other parties thereto, there are no grounds for termination, rescission
or repudiation of any Material Contract, and neither the Company nor any of its Subsidiaries is in material breach or violation of, or
material default under, any Material Contract nor has any Material Contract been canceled by the other party; (ii) to the Knowledge of
the Company, no other party is in material breach or violation of, or material default under, any Material Contract; and (iii) the Company
or any of its Subsidiaries have not received any written, or to the Knowledge of the Company, oral claim of default under any such Material
Contract. The Company has furnished or made available to Purchaser true and complete copies of all Material Contracts without redaction,
including amendments thereto that are material in nature. The Company is not renegotiating or offering to renegotiate any Contract with
a Top Customer in a way that would be materially adverse to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.8 <U>Taxes.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company,
the Company and its Subsidiaries have timely:&nbsp; (i) filed (taking into account any valid extension of time within which to file) with
the appropriate Taxing Authority all Tax Returns required to have been filed by the Company or any of its Subsidiaries and all such Tax
Returns are true, correct and complete; and (ii) paid all Taxes required to be paid by any of them, except to the extent adequate reserves
in accordance with GAAP for such Taxes are reflected on the financial statements of the Company included in the Company SEC Reports. The
financial statements of the Company included in the Company SEC Reports reflect adequate reserves in accordance with GAAP for Taxes of
the Company or any Company Subsidiary as of the date thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company,
the Company and its Subsidiaries have: (i) timely paid, deducted, withheld and collected all amounts required to be paid, deducted, withheld
or collected by any of them with respect to any payment owing to, or received from, their employees, creditors, independent contractors,
customers and other third parties (and have timely paid over any amounts so withheld, deducted or collected to the appropriate Governmental
Authority); and (ii) otherwise complied with all applicable Laws relating to the payment, withholding, collection and remittance of Taxes
(including information reporting requirements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company:
(i) neither the Company nor any of its Subsidiaries is the subject of any currently pending claim, litigation, audit, examination, investigation,
or other proceeding with respect to Taxes; and (ii) there is no deficiency for Taxes that has been assessed by any Taxing Authority against
the Company or any of its Subsidiaries.&nbsp; Neither the Company nor any of its Subsidiaries has waived or extended any statute of limitations
with respect to the collection or assessment of any Taxes, which waiver or extension has not since expired.&nbsp; Except for Permitted
Liens, there are no Liens for Taxes on any of the assets of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) Neither
the Company nor any of its Subsidiaries: (i) is a party to, or bound by, any Tax allocation, indemnification or sharing agreement (other
than an agreement solely among the Company and any of its Subsidiaries, and other than any agreement entered into with third Persons in
the ordinary course of business the principal purpose of which is not related to the allocation, indemnification, or sharing of Taxes);
or (ii) has any Liability for Taxes of any Person (other than the Company or any of its Subsidiaries) under Treasury Regulations Section
1.1502-6 (or any similar provision of state, local, or non-U.S. Law) or as transferee or successor or otherwise by operation of Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) Neither
the Company nor any of its Subsidiaries has participated in any &ldquo;listed transaction&rdquo; within the meaning of Treasury Regulations
Section 1.6011-4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) Within
the last three (3) years: (i) no private letter rulings or technical advice memoranda have been issued by any Taxing Authority with respect
to the Company or any of its Subsidiaries; (ii) no closing agreements have been entered into between the Company or any of its Subsidiaries,
on the one hand, and any Taxing Authority, on the other hand; and (iii) no claim has been made in writing by any Taxing Authority in a
jurisdiction where the Company or any of its Subsidiaries has not filed income or franchise Tax Returns that the Company or any of its
Subsidiaries is or may be subject to material income or franchise Tax by, or required to file income or franchise Tax Returns with respect
to material Taxes in, such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g) Within
the last three (3) years, neither the Company nor any of its Subsidiaries has distributed stock of another Person, or has had its stock
distributed by another Person, in a transaction that was purported or intended to be governed in whole or in part by Section 355(a) of
the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.9 <U>Labor
and Employment Matters</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)
Each of the Company and its Subsidiaries is, and during the past three (3) years has been in compliance, in all material respects, with
all applicable Laws governing the employment of labor, including all Contractual commitments and all such Laws relating to discrimination
or harassment in employment; terms and conditions of employment; termination of employment; wages; overtime classification; hours; meal
and rest breaks; occupational safety and health; plant closings; employee whistle-blowing; immigration and employment eligibility verification;
employee privacy; defamation; background checks and other consumer reports regarding employees and applicants; employment practices;
negligent hiring or retention; affirmative action and other employment-related obligations on federal contractors and subcontractors;
classification of employees, consultants and independent contractors; labor relations; collective bargaining; unemployment insurance;
the collection and payment of withholding and/or social security taxes and any similar tax; employee benefits; and workers&rsquo; compensation
(collectively, &ldquo;<U>Employment Matters</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Section
2.9(b)(i) of the Company Disclosure Schedule sets forth a true, correct and complete listing, as of the date specified therein, of the
name of all employees of the Company and its Subsidiaries and designates, together with such employee&rsquo;s position or function; annual
base salary or wage; status as &ldquo;exempt&rdquo; or &ldquo;nonexempt&rdquo; for employment classification purposes; accrued leave as
of the date specified therein; any incentive or bonus arrangements with respect to such employee; and any severance potentially payable
to such employee upon termination of employment. <U>Section 2.9(b)(ii) </U>of the Company Disclosure Schedule sets forth a true, correct
and complete listing, as of the date specified therein, of the name of all current consultants and independent contractors of the Company
and its Subsidiaries, together with such individual&rsquo;s compensation arrangement with the Company or any of its Subsidiaries and whether
such individual has entered into a written agreement regarding his or her contractor engagement. The employment of each employee of the
Company or any of its subsidiaries and the engagement of each independent contractor of the Company or any of its subsidiaries is terminable
at will by the Company or the applicable subsidiary without any penalty, Liability, or severance obligation incurred by the Company or
any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) None
of the Company or any of its Subsidiaries is a party to, or bound by, any labor agreement, collective bargaining agreement, work rules
or practices, or any other labor-related agreement or arrangement with any labor union, trade union or labor organization. No employees
of the Company or any of its subsidiaries are represented by any labor union, trade union or labor organization with respect to their
employment with the Company or any of its Subsidiaries. No labor union, trade union, labor organization or group of employees of the Company
or any of its subsidiaries has made a pending demand (in writing) for recognition or certification, and there are no representation or
certification proceedings or petitions seeking a representation proceeding presently pending or threatened in writing to the Company to
be brought or filed with the National Labor Relations Board or any other labor relations tribunal or Governmental Authority. To the Knowledge
of the Company, there is no union organizing activities with respect to any employees of the Company or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) There
has been no actual, or to the Knowledge of the Company, threatened (i) material arbitrations, material grievances, labor disputes, strikes,
work stoppages, work slowdowns or lockouts against or involving the Company or any of its Subsidiaries; or (ii) unfair labor practice
charges, grievances or complaints pending or threatened by or on behalf of any employee or group of employees of the Company or any of
its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) Each
of the Company and its Subsidiaries: (i) has taken reasonable steps to properly classify and treat all of their employees as &ldquo;employees&rdquo;
and independent contractors as &ldquo;independent contractors&rdquo;; (ii) has taken reasonable steps to properly classify and treat all
of their employees as &ldquo;exempt&rdquo; or &ldquo;nonexempt&rdquo; from overtime requirements under applicable law; (iii)&nbsp;has
maintained legally adequate records regarding the service of all of their employees, including, where required by applicable Law, records
of hours worked; (iv) is not delinquent in any material payments to, or on behalf of, any current or former employees or independent contractors
for any services or amounts required to be reimbursed or otherwise paid; (v) has withheld, remitted, and reported all material amounts
required by Law or by Contract to be withheld, remitted, and reported with respect to wages, salaries and other payments to any current
or former independent contractors or employees; and (vi) is not liable for any material payment to any trust or other fund governed by
or maintained by or on behalf of any Governmental Authority with respect to unemployment compensation benefits, social security or other
benefits or obligations for any current or former independent contractors or employees (other than routine payments to be made in the
ordinary course of business and consistent with past practice).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) The
Company and its Subsidiaries have paid in full or accrued in their books and records: (i)&nbsp;to all current, former and temporary employees
any wages, salaries, commissions, bonuses, benefits, compensation, overtime, cash outs of accrued unused vacation, paid time-off or other
leave and severance and any other amounts due upon termination of employment that are due and payable and (ii) to all independent contractors,
consultants and other service providers any fees for services that are due and payable.&nbsp; The Company and its Subsidiaries do not
have any Liability as a joint employer with respect to any temporary employees leased or staffed through a third-party entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g) There
are no, and in the past three (3) years there have been no, pending, or to the Knowledge of the Company, threatened investigations, audits,
or any Actions by any Governmental Authority relating to any Employment Matters of the Company or any of its Subsidiaries. Neither the
Company nor any of its Subsidiaries is a party to, or otherwise bound by, any consent decree with, or citation by, any Governmental Authority
relating to any Employment Matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h) During
the past three (3) years, neither the Company nor any of its Subsidiaries has effectuated (i) a &ldquo;plant closing&rdquo; (as defined
in the WARN Act) affecting any site of employment or one or more facilities or operating units within any site of employment or facility
of the Company or any of its Subsidiaries; or (ii) a &ldquo;mass layoff&rdquo; (as defined in the WARN Act) affecting any site of employment
or facility of the Company or any of its subsidiaries; and neither the Company nor any of its subsidiaries has been affected by any transaction
or engaged in layoffs or employment terminations sufficient in number to trigger application of any similar state or local law. No employee
of the Company or any of its subsidiaries has suffered an &ldquo;employment loss&rdquo; (as defined in the WARN Act) within the past six
(6) months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i) To
the Knowledge of the Company, each employee of the Company or any of its Subsidiaries is: (i) a United States citizen, (ii) a United States
national, (iii) a lawful permanent resident of the United States, or (iv) an alien authorized to work in the United States either specifically
for the Company or one of its subsidiaries or for any United States employer. The Company or one of its Subsidiaries has completed a Form
I-9 (Employment Eligibility Verification) for each employee hired since November 6, 1986, and each such Form I-9 has since been updated
as required by applicable Law and, to the Knowledge of the Company, is correct and complete. For each employee of the Company or any of
its Subsidiaries employed in the United States, an authorized official of the Company or one of its Subsidiaries has reviewed the original
documentation relating to the identity and employment authorization of such employee in compliance with applicable Law and such documentation
appeared, to such official, to be genuine on its face and to relate to the employee presenting such documentation. Further, where required
by applicable Law, each of the Company and its Subsidiaries utilize E-Verify pursuant to the terms of the E-Verify Memorandum of Understanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j) To
the Knowledge of the Company: (i) no employee or independent contractor of the Company or any of its Subsidiaries is in material violation
of any term of any employment Contract, consulting Contract, non-disclosure Contract, common law non-disclosure obligation, non-competition
Contract, non-solicitation Contract, proprietary information Contract or any other Contract relating to confidential or proprietary information,
intellectual property, competition, or related matters; and (ii) the continued employment by the Company and its Subsidiaries of their
respective employees, and the performance of the Contracts with the Company and its Subsidiaries by their respective independent contractors,
will not result in any such material violation. Neither the Company nor any of its Subsidiaries has received any notice alleging that
any such material violation has occurred within the past three (3) years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(k) The
Company and all Subsidiaries have promptly, thoroughly and impartially investigated all sexual harassment allegations made by or about
any employee or independent contractor of the Company or any of its Subsidiaries since January 1, 2019. With respect to each such allegation
with potential merit, the Company or its Subsidiary, as applicable, has taken prompt corrective action that is reasonably calculated to
prevent further harassment. The Company and its Subsidiaries do not reasonably expect any Liabilities with respect to any such allegations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.10 <U>Employee
Benefit Plans</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) Section
2.10(a) of the Company Disclosure Schedule contains a correct and complete list, as of the date of this Agreement, of each material Employee
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Except
as has not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i) each
Employee Plan has been maintained and administered in compliance with its terms and with applicable Law, including ERISA and the Code
to the extent applicable thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii) each
Employee Plan that is intended to be qualified within the meaning of Section 401(a) of the Code has received a favorable determination
letter from the IRS or is entitled to rely upon a favorable opinion issued by the IRS, and, to the Knowledge of the Company, no events
have occurred that would reasonably be expected to adversely affect the qualified status of any such Employee Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iii) neither
the Company nor any of its ERISA Affiliates has ever (x) sponsored, maintained or contributed to an Employee Plan that was subject to
Section 412 of the Code or Title IV of ERISA or (y) been obligated to contribute to, or had any Liability with respect to, a &ldquo;multiemployer
plan&rdquo; (as defined in Section 4001(a)(3) of ERISA) or a plan described in Section 413 of the Code;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iv) no
Employee Plan provides benefits, including death or medical benefits, with respect to current or former employees or other individual
service providers of the Company or its Subsidiaries beyond their retirement or other termination of service, other than (A) coverage
mandated by applicable Law, (B) severance benefits that do not exceed three (3) years following termination of employment or (C) group
life and disability insurance policies made available to current employees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(v) all
contributions or other amounts payable by the Company or its Subsidiaries as of the date of this Agreement with respect to each Employee
Plan have been paid or accrued in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vi) with
respect to each Employee Plan that is subject to Section 409A of the Code, such Employee Plan has been operated and administered in compliance
with Section 409A of the Code;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vii) there
has been no prohibited transaction (within the meaning of Section 406 of ERISA or Section 4975 of the Code and other than a transaction
that is exempt under a statutory or administrative exemption) with respect to any Employee Plan that would result in Liability to the
Company or any of its ERISA Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(viii) there
are no pending or, to the Knowledge of the Company, threatened claims (other than routine claims for benefits) with respect to any Employee
Plan that would reasonably be expected to result in any Liability of the Company or any of its Subsidiaries; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ix) Except
as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, each International
Employee Plan has been duly registered in compliance with all applicable Laws of each jurisdiction where such registration is required
and, as to any International Employee Plan that is required by applicable Law to be funded and/or book-reserved, such International Employee
Plan is funded and/or book reserved, as appropriate, based upon reasonable actuarial assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) Except
as expressly provided in this Agreement, the consummation of the Transactions will not (either alone or together with any other event)
(i) entitle any employee, director or independent contractor of the Company or any of its Subsidiaries to any payment, forgiveness of
indebtedness, or distribution, (ii) accelerate the time of payment or vesting or trigger any payment or funding of compensation or benefits
under, or increase the amount payable under or trigger any other obligation pursuant to, any Employee Plan, or (iii) result in any payment
to any &ldquo;disqualified individual&rdquo; (as such term is defined in Section 280G of the Code and the regulations thereunder) that
would reasonably be expected to, individually or in combination with any other such payment, be characterized as an &ldquo;excess parachute
payment&rdquo; (as defined in Section 280G(b)(1) of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.11 <U>Intellectual
Property</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) The
Company and/or its Subsidiaries exclusively own and have valid title of the Company Owned IP, free and clear of any Liens, other than
Permitted Liens. Except as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect, the Company Owned IP is subsisting and, to the Knowledge of the Company, valid and enforceable. The Company or a Company Subsidiary
duly licenses pursuant to a valid written Contract all Company Licensed IP that is material to the conduct of the business of the Company
and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) As
of the date of this Agreement, there are no legal disputes or claims pending or threatened in writing, alleging infringement, misappropriation
or any other violation of any Intellectual Property Rights of any Person by the Company or any of its Subsidiaries or contesting the validity,
use, ownership enforceability or registrability of any Company Owned IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) The
operation of the business of the Company and its Subsidiaries has not infringed, misappropriated, or otherwise violated any Intellectual
Property rights of any Person in any material respect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) To
the Knowledge of the Company, no Company Owned IP has been infringed, misappropriated, or otherwise violated by any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) <U>Section
2.11(e)</U> of the Company Disclosure Schedule contains a complete and correct list, as of the date of this Agreement, of all (i) Company
Registered IP (showing in each, as applicable, the filing date, date of issuance, expiration date and registration or application number,
and registrar) and (ii) all Contracts pursuant to which the Company or any of its Subsidiary is granted a right to use any Company Licensed
IP, including for the software or Business Systems of any other persons, in each case, that are material to the business of the Company
or any Company Subsidiaries, other than (x) unmodified, commercially available, &ldquo;off-the-shelf&rdquo; software or (y) Business Systems
with a replacement cost or aggregate annual license and maintenance fees of less than $50,000. Except as would not have or reasonably
be expected to have a Material Adverse Effect on the Company, the Company and its Subsidiaries have paid all fees and filed all documents
reasonably necessary to maintain the Company Registered IP. None of the issued Company Registered IP has been adjudged invalid or unenforceable
in whole or in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) The
Company and its Subsidiaries have taken commercially reasonable steps to protect the trade secrets and confidential information comprising
the Company Owned IP and to protect any confidential information of any other Person that is in their possession or control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g) Except
as would not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, all Persons who
have contributed, developed or conceived any Company Owned IP have executed valid, written agreements with the Company or one of the Company
Subsidiaries, pursuant to which such Persons have assigned to the Company or the applicable Company Subsidiary, based on a present tense
assignment, all of their entire right, title, and interest in and to any Intellectual Property Rights created, conceived or otherwise
developed by such Person in the course of and related to his, her or its relationship with the Company or the applicable Company Subsidiary,
without further consideration or any restrictions or obligations whatsoever, including on the use or other disposition or ownership of
such Intellectual Property Rights, except as required by applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h) The
Company and the Company Subsidiaries do not use and have not used any Open Source Software or any modification or derivative thereof in
a manner that would (i) grant or purport to grant to any other person any rights to or immunities under any of the Company Owned IP, or
(ii) require the Company or any Company Subsidiaries to disclose, distribute, license or provide the source code to any Product components
or Business Systems owned or purported to be owned by the Company or any Company Subsidiaries at no or minimal charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i) The
Company and each of the Company Subsidiaries currently, and in the past three (3) years, have complied in all material respects with all
applicable Privacy and Data Security Requirements. The Company and the Company Subsidiaries have each implemented reasonable data security
safeguards designed to protect the security and integrity of its Business Systems and any Personal Information or Business Data held or
processed by or on behalf of the Company or any Company Subsidiary, including implementing industry standard procedures designed to prevent
unauthorized access and the introduction of disabling devices, malware, or viruses. In the past three (3) years, neither the Company nor
any of the Company Subsidiaries has (i) experienced any data security breaches that were required to be reported under applicable Privacy/Data
Security Laws or contracts entered into by the Company or any Company Subsidiary; or (ii) been subject to or received written notice of
any Action by any Governmental Authority or any customer, or received any material claims or complaints regarding the collection, dissemination,
storage or use of Personal Information, or the material violation of any applicable Privacy and Data Security Requirements, and, to the
Knowledge of the Company, there is no reasonable basis for the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j) The
Company or one of the Company Subsidiaries (i) exclusively owns and possesses all right, title and interest in and to the Business Data
free and clear of any restrictions of any nature or (ii) has all rights to use, exploit, publish, reproduce, distribute, license, sell,
and create derivative works of the Business Data, in whole or in part, in the manner in which the Company and the Company Subsidiaries
receive and use such Business Data prior to the Closing Date. The Company and the Company Subsidiaries are not subject to any contractual
requirements, privacy policies, or other legal obligations, including based on the consummation of the Transactions, that would prohibit
Purchaser from receiving or using Personal Information or other Business Data, in the manner in which the Company and the Company Subsidiaries
receive and use such Personal Information and other Business Data prior to the Closing Date or result in material liabilities in connection
with Privacy and Data Security Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.12 <U>International
Trade Laws</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) The
Company Group, each of its officers, directors and employees, and, to the Knowledge of the Company, agents, distributors, or sub-distributors
of any member of the Company Group or to the Knowledge of the Company, any other Persons while acting for or on behalf of them, is and
has been for the past five (5) years in compliance with: (i) all applicable sanctions laws, including the U.S. economic sanctions laws
administered by the U.S. Department of the Treasury, Office of Foreign Assets Control (&ldquo;<U>OFAC</U>&rdquo;), the U.S. Department
of State, the United Nations Security Council, the United Kingdom and the European Union (&ldquo;Sanctions&rdquo;); (ii) all applicable
laws or regulations regarding the importation of goods, including the U.S. import laws administered by U.S. Customs and Border Protection;
(iii) all applicable export control laws, including the Export Administration Regulations administered by the U.S. Department of Commerce
(&ldquo;<U>Commerce</U>&rdquo;), the International Traffic in Arms Regulations administered by the U.S. Department of State, and the EU
Dual Use Regulation; and (iv) the anti-boycott regulations administered by Commerce and the U.S. Department of the Treasury (collectively,
the &ldquo;<U>Customs &amp; International Trade Laws</U>&rdquo;), related to the regulation of exports (including deemed exports), re-exports,
transfers, releases, shipments, transmissions, imports or similar transfer of goods, technology, software or services, or any other transactions
or business dealings, by or on behalf of any member of the Company Group. Without limiting the foregoing: (x) no member of the Company
Group has made any voluntary or involuntary disclosure or received written notice that it is subject to any civil or criminal investigation,
proceeding, audit or any other inquiry, or has conducted any internal investigation, or is aware of any allegation involving or otherwise
relating to any alleged or actual material violation of the Customs &amp; International Trade Laws; and (y) there is no pending or, to
the Knowledge of the Company, threatened Action pending against, or, to the Knowledge of the Company, investigation by a Governmental
Authority of, any member of the Company Group, nor is there any order imposed or, to the Knowledge of the Company, threatened to be imposed
upon any member of the Company Group by or before any Governmental Authority, in each case in connection with any allegation involving
or otherwise relating to any alleged or actual material violation of the Customs &amp; International Trade Laws. Without limiting any
of the foregoing, the Company Group has not, in the past five (5) years, conducted any unlawful business in or with persons located, organized,
or resident in a jurisdiction subject to comprehensive U.S. Sanctions, including but not limited to Iran, North Korea, Syria, Cuba, and
the Crimea, so-called Donetsk People&rsquo;s Republic, and so-called Luhansk People&rsquo;s Republic regions of Ukraine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) No
member of the Company Group, their respective officers, directors and employees and, to the Knowledge of the Company, agents, distributors,
or sub-distributors of any member of the Company or to the Knowledge of the Company, any other Persons while acting for or on behalf of
them, is designated on, or is owned 50% or more in the aggregate, or controlled by any party that is designated on, any list of prohibited
parties maintained by any applicable Governmental Authority, including OFAC&rsquo;s Specially Designated Nationals and Blocked Persons
List, and the EU Consolidated List.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) Each
member of the Company Group, and each of their respective officers, directors and employees, has not, and to the Knowledge of the Company,
agents, resellers or other third-party representatives of the Company or to the Knowledge of the Company, any other Persons while acting
for or on behalf of them, have not, directly or indirectly, violated or taken any act in furtherance of violating any provision of the
U.S. Foreign Corrupt Practices Act of 1977 (as amended), the U.K. Bribery Act 2010 or any other anti-corruption or anti-bribery law (collectively,
the &ldquo;<U>Anti-Corruption Laws</U>&rdquo;) to the extent applicable to the Company Group&rsquo;s operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) Each
member of the Company Group, and each of their respective officers, directors and employees, has not, and to the Knowledge of the Company,
agents, resellers or other third-party representatives of the Company Group or to the Knowledge of the Company, any other Persons while
acting for or on behalf of them, have not, directly or indirectly, taken any act in furtherance of or authorized an offer, payment, promise
to pay, gift, bribe, rebate, loan, payoff, kickback or any other transfer of value provided to any Person for the purpose of inducing
such Person to do any act or make any decision in an official capacity, including a decision to fail to perform an official function,
or use his or her or its influence with a Governmental Authority in order to affect any act or decision of such Governmental Authority
for the purpose of assisting any Person to obtain or retain any business, or to facilitate efforts of any Person to transact business
or for any other improper purpose, in violation of applicable Anti-Corruption Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.13 <U>Absence
of Certain Changes or Events</U>. Since December 31, 2021, no change, event or effect has occurred on the Company.&nbsp; Between December
31, 2021 and the Effective Date, the Company Group has conducted their respective businesses in all material respects only in the ordinary
course consistent with past practice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.14 <U>Litigation</U>.
There is no litigation, arbitration, investigation by a Governmental Authority or other Person, suit, action or proceeding pending (each,
an &ldquo;<U>Action</U>&rdquo;) or threatened in writing against the Company, any of its Subsidiaries or any director, officer or employee
of any of the Company or any of its Subsidiaries, except for any such Action as would not or reasonably be expected to, either individually
or in the aggregate, materially impair the ability of the Company to conduct the Business as it is currently conducted or, if adversely
determined, result in material damages to the Company or any Subsidiaries. To the Knowledge of the Company, no event has occurred or circumstances
exist that may give rise to, or serve as a basis for, any such Action. The Company is not subject to any order (including any temporary
restraining order), decision, judgment, writ, injunction (including any preliminary or permanent injunction), directive, stipulation,
decree, award or other determination of or by any Governmental Authority (each, an &ldquo;<U>Order</U>&rdquo;) , except for any such Action
as would not or reasonably be expected to, either individually or in the aggregate, materially impair the ability of the Company to conduct
the Business as it is currently conducted or, if adversely determined, result in material damages to the Company or any Subsidiaries.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.15 <U>Title
to Property and Assets</U>. The Company has good, valid and marketable title, of record and beneficially, to all of its properties, and
interests in properties and assets, real and personal, free and clear of all Liens, except Permitted Liens. With respect to the property
and assets it leases, the Company is in material compliance with such leases and holds a valid leasehold interest free of any Liens, except
Permitted Liens.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.16
<U>Compliance with Law</U>. The Company and its Subsidiaries hold, and have at all times since January 1, 2020, held, all material licenses,
registrations, franchises, certificates, variances, permits, charters and authorizations (the &ldquo;<U>Company Permits</U>&rdquo;) necessary
for the lawful conduct of their respective businesses and ownership of their respective properties, rights and assets under and pursuant
to each (and have paid all fees and assessments due and payable in connection therewith). No suspension, revocation or cancellation of
any of the Company Permits is pending or, to the Knowledge of the Company, threatened in writing, and, to the Knowledge of the Company,
no suspension, revocation or cancellation of any such necessary license, registration, franchise, certificate, variance, permit, charter
or authorization is threatened. Neither the Company nor any of its Subsidiaries is, or has been in the past three (3) years, in material
conflict with, or in material default, breach or violation of, (a) any Law applicable to the Company or any of its Subsidiaries or by
which any property or asset of the Company or any of its Subsidiaries is bound or affected, or (b) any Material Contract or Company Permit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.17
<U>Insurance</U>. The Company and its Subsidiaries maintain insurance policies against such risks and in such amounts as the management
of the Company reasonably has determined to be prudent and consistent with industry practice. All such policies are in full force and
effect in accordance with their terms and all premiums with respect thereto covering all periods up to and including the Effective Date
have been paid, or will be paid when due. The Company has not received any written notice of cancellation, material change in premium
or denial of renewal in respect of any such policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.18 <U>Opinion
of Financial Advisor</U>. B. Riley has delivered to the Special Committee an opinion to the effect that, as of the date of such opinion,
and based upon and subject to the factors and assumptions set forth therein, the consideration to be paid by Purchaser to the Company
pursuant to the Transactions as provided in this Agreement, taken together, is fair, from a financial point of view, to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.19
<U>Finders&rsquo; Fees</U><FONT STYLE="text-decoration: none">. </FONT>Except as set forth in Section 2.19 of the Company Disclosure
Schedule, no agent, broker, investment banker or financial advisor retained by the Company is or will be entitled to any broker&rsquo;s
or finder&rsquo;s fee or any other similar commission or fee payable by the Company or any Subsidiary of the Company in connection with
any of the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.20 <U>Broker-Dealer
Matters</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) The
Company Group is current in all material filings required by the SEC or any other Governmental Authority. The Company Broker Dealers are
members in good standing of FINRA. As of the date hereof, other than the Company Broker Dealers, none of the Company&rsquo;s Subsidiaries
engages in activities that would require it to be registered as a broker-dealer with the SEC or any other Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) None
of the Company or any of its Subsidiaries or, to the Knowledge of the Company, any &ldquo;associated person&rdquo; (within the meaning
of the Exchange Act)) of the Company, is ineligible from registration as a broker-dealer or as an &ldquo;associated person&rdquo; of a
registered broker-dealer (within the meaning the Exchange Act), as applicable, pursuant to Section 15(b) of the Exchange Act. Except as
disclosed in Company SEC Reports, as of the date hereof, there is no proceeding, investigation, inquiry or other action pending or, to
the Knowledge of the Company, threatened in writing that would reasonably be expected to result in the Company, the Company Broker Dealers
or any &ldquo;associated person&rdquo; (within the meaning of the Exchange Act) thereof becoming ineligible to act in such capacity. The
Company Broker Dealers are, and at all times required by applicable Law have been, duly registered (i) with the SEC as broker-dealers
under the Exchange Act, and (ii) in each state or any other jurisdiction where the conduct of their business required such registration,
licensing or qualification. Each such registration or license is in full force and effect. The Company Broker Dealers are in compliance
in all material respects with the applicable provisions of the Exchange Act. In the last three (3) years, each associated person of the
Company Broker Dealers, including any director, officer and employee of the Company Broker Dealers who is required to be registered as
a broker-dealer, principal, registered representative, or salesperson in connection with his, her or its activities for or with the Company
Broker Dealers with any Governmental Authority have been duly licensed or registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) In
the last three (3) years, the Company has timely filed any Form BD Amendment. The Company has provided or made available to Purchaser
accurate copies of the Company Broker Dealers&rsquo; Form BD, as most recently amended and filed with the SEC. The information contained
in such form was materially accurate at the time of filing and the Company has made all amendments to such form as it is required to make
under any applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) The
Company Broker Dealers currently maintain, and at all times since for the last three (3) years have maintained, &ldquo;net capital&rdquo;
(as such term is defined in Rule 15c3-1 under the Exchange Act): (i) equal to or in excess of the minimum &ldquo;net capital&rdquo; required
to be maintained by it under the Exchange Act and such additional amounts, if any, required by FINRA and any other Governmental Authority
and (ii) in an amount sufficient to ensure that it has not been required to file notice under Rule 17a-11 under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) The
Company Broker Dealers have in effect, and at all times required by applicable Law in the last three (3) years have had in effect, written
policies and procedures necessary to comply with applicable Law (including FINRA Rule 3120, the federal securities Laws and regulations,
anti-money laundering Laws, including a written customer identification program), complete and correct copies of which have been provided
to Purchaser and the Company Broker Dealers and, to the Knowledge of the Company, their employees have complied in all material respects
with such policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) As
of the date hereof, the Company and its Subsidiaries are not required to be registered, licensed or qualified as a bank, trust company,
commodity trading advisor, commodity broker-dealer, commodity pool operator, futures commission merchant, transfer agent, real estate
broker, or municipal advisor. The Company and its Subsidiaries have not received written notice of any proceeding instituted by a Governmental
Authority concerning any failure to obtain any such registration, license or qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.21 <U>Investment
Adviser Matters</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) During
the three (3) year period prior to the date hereof, Company Financial Advisor and, to the Knowledge of the Company, each of its officers
and employees, who is required to be registered, licensed or qualified as (i) an investment adviser or (ii) an investment adviser representative,
in each case, under the Investment Advisers Act or any applicable similar U.S. state securities Law is registered, licensed or qualified
as such, and all such registrations and licenses are in full force and effect. Company Financial Advisor is in compliance in all material
respects with the applicable provisions of the Investment Advisers Act. As of the date hereof, to the Knowledge of the Company, Company
Financial Advisor does not act (x) as an investment adviser to any non-U.S. Person or any Advisory Client outside the U.S. in a manner
or to an extent that requires registration in any such jurisdiction, or (y) as an investment adviser (or, for the avoidance of doubt,
a sub-adviser) to any pooled investment vehicle or fund, including any such vehicle or fund (A) excepted from the definition of &ldquo;investment
company&rdquo; (as defined under the Investment Advisers Act) under Section 3(c)(1) or Section 3(c)(7) of the Investment Advisers Act,
or (B) required to register as an &ldquo;investment company&rdquo; under the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) During
the three (3) year period prior to the date hereof, Company Financial Advisor (to the extent required) has timely filed Form ADV, and
as of the date of filing, no Form ADV contained any untrue statement of a material fact or omitted to state a material fact required to
be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading. Each such Form ADV is in compliance with the applicable requirements of the Investment Advisers Act, except where the failure
to be in compliance would not have a Material Adverse Effect. Company Financial Advisor has made available to Purchaser a correct and
complete copy of Company Financial Advisor&rsquo; Form ADV as in effect as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) None
of Company Financial Advisor or, to the Knowledge of the Company, any officer or employee of, or any other &ldquo;person associated with&rdquo;
(as defined in the Investment Advisers Act) Company Financial Advisor is ineligible pursuant to Section 203(e) or 203(f) of the Investment
Advisers Act to serve as a registered investment adviser or as a person associated with a registered investment adviser, nor is there
any proceeding, investigation or other action pending or, to the Knowledge of the Company, threatened by any Governmental Authority that
would result in the ineligibility of Company Financial Advisor or any officer or employee of, or any other &ldquo;person associated with&rdquo;
Company Financial Advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) Company
Financial Advisor has designated and approved a chief compliance officer in accordance with Rule 206(4)-7 under the Investment Advisers
Act or other applicable Law. Company Financial Advisor has established in compliance with requirements of applicable Law, and maintained
in effect at all times required by applicable Law in the prior three (3) years, (i) written anti-money laundering policies and procedures
that incorporate, among other things, a written customer identification program, (ii) a code of ethics and a written policy regarding
insider trading and the protection of material non-public information, (iii) written cyber security and identity theft policies and procedures,
(iv) written supervisory procedures and a supervisory control system, (v) written policies and procedures designed to protect non-public
personal information about Advisory Clients and other third parties, (vi) written recordkeeping policies and procedures, and (vii) other
policies required to be maintained by such Company Financial Advisor under applicable Law, including (to the extent applicable) Rules
204A-1 and 206(4)-7 under the Investment Advisers Act, except, in each case under clauses (i)-(vii), as would not, individually or in
the aggregate, reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. Neither Company Financial
Advisor nor any &ldquo;covered associate&rdquo; thereof has made a &ldquo;contribution&rdquo; or &ldquo;coordinated&rdquo; or &ldquo;solicited&rdquo;
a &ldquo;contribution&rdquo; to an &ldquo;official&rdquo; of a government entity (as such terms are defined in Rule 206(4)-5 under the
Investment Advisers Act) that would disqualify or otherwise prevent Company Financial Advisor from providing Investment Advisory Services
for compensation to such government entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) With
respect to each Advisory Client, (i) there has been in full force and effect an Advisory Contract at all times that Company Financial
Advisor was performing Investment Advisory Services for such Advisory Client, (ii) each Advisory Contract is a valid and binding Contract
of Company Financial Advisor and such Advisory Client, enforceable in accordance with its terms, (iii) each Advisory Contract has been
entered into and performed by Company Financial Advisor in accordance with its terms (including any applicable investment restrictions
or policies of such Advisory Client), the Investment Advisers Act and applicable Law, (iv) each Advisory Contract includes all provisions
required by Section 205 of the Investment Advisers Act and (v) there have been no material errors, miscalculations, discrepancies and/or
changes to calculation methodologies with respect to any fees charged under such Advisory Contracts (or any material credits, refunds
or reimbursements to such Advisory Clients related thereto), and all fees paid by such Advisory Client have been calculated in all material
respects in accordance with the relevant Advisory Contract and applicable Law, using a calculation methodology for such fees consistent
with the Advisory Contract, except, in each case under clauses (i)-(v), as would not, individually or in the aggregate, reasonably be
expected to be material to the Company and its Subsidiaries, taken as a whole. Company Financial Advisor has delivered or made available
to Purchaser a true and complete copy of each Advisory Contract for each Advisory Client (or, if applicable, each form thereof currently
in effect for any Advisory Client).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) None
of the Company, Company Financial Advisor or any of their Subsidiaries or, to the Knowledge of the Company, any director, executive officer
or any other officer thereof is or has been (i) subject to ineligibility pursuant to Section 203 of the Investment Advisers Act to serve
as a registered investment adviser or as an &ldquo;associated person&rdquo; (as defined in the Investment Advisers Act) of a registered
investment adviser, (ii) subject to disqualification pursuant to Rule 206(4)-3 under the Investment Advisers Act or (iii) subject to any
Disqualification Event specified in Rule 506(d)(1)(i)-(viii) of Regulation D promulgated under the Securities Act (including, for the
avoidance of doubt, Disqualification Events that would have triggered disqualification under Rule 506(d)(1) but occurred before September
23, 2013 or have been waived by a waiver, order, judgment or decree granted under Rule 506(d)(2)(ii) or (iii)), nor is there any proceeding,
investigation or other Action pending or threatened in writing (or, to the Knowledge of the Company, otherwise) by any Governmental Authority
that would reasonably be expected to result in any such Disqualification Event. None of the Company, any of its Subsidiaries, any officer,
director or employee thereof or, to the Knowledge of the Company, any other &ldquo;affiliated person&rdquo; (as defined in the Investment
Company Act) thereof is subject to ineligibility pursuant to Section 9(a) or 9(b) of the Investment Company Act to serve in any capacity
referred to in Section 9(a) thereof to a Public Fund, nor is there any Action pending or, to the Knowledge of the Company, threatened
in writing, by any Governmental Authority, which would provide a basis for such ineligibility, which would reasonably be expected to be,
individually or in the aggregate, material to the Company and its Subsidiaries, taken as a whole. Each employee of the Company or any
of its Subsidiaries who is required to be registered or licensed as a registered representative, principal, investment adviser representative,
salesperson or equivalent with any Governmental Authority is duly registered or licensed as such and such registration or license is in
full force and effect, except as would not, individually or in the aggregate, reasonably be expected to be material to the Company and
its Subsidiaries, taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(g) None
of the Company or any of its Subsidiaries has &ldquo;custody&rdquo; (as such term is defined in Rule 206(4)-2 under the Investment Advisers
Act) of any funds or securities of any Advisory Client, except such &ldquo;custody&rdquo; as arises solely as a result of the Company
or any of its Subsidiaries&rsquo; authority to make withdrawals from client accounts to pay its advisory fees and, with respect thereto,
the Company and its Subsidiaries comply with all applicable requirements of said Rule 206(4)-2 in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(h) During
the three (3) year period prior to the date hereof, none of the Company or any of its Subsidiaries has (i) received a written &ldquo;wells
notice&rdquo; or other written indication of the commencement of an enforcement action from the SEC, FINRA or any other Governmental Authority,
(ii) been subject to a formal governmental order instituting proceedings or similar action from the SEC, FINRA or any other Governmental
Authority, (iii) settled any claim or proceeding of the SEC, FINRA or any other Governmental Authority or (iv) received any written notice
from any Governmental Authority that alleges any material noncompliance with any applicable Law governing the operations of investment
advisers or broker-dealers. If Company Financial Advisor has in the past undergone an examination, inspection, investigation or inquiry
from a Governmental Authority and has received, at the conclusion thereof, communication from such Governmental Authority regarding the
outcome of such examination, inspection, investigation or inquiry (<I>e.g.</I>, a &ldquo;deficiency letter&rdquo; or other such communication),
it has (x) timely responded, to the extent required, to such communication and (y) remedied or otherwise corrected any issue(s) or compliance
matter(s) identified in such communication in the manner asserted in such responsive communication, and has experienced no repeated incidents
of the nature identified by the Governmental Authority in its communication to Company Financial Advisor that would lead to possible &ldquo;recidivist&rdquo;
status, except to the extent as would not, individually or in the aggregate, reasonably be expected to be material to the Company and
its Subsidiaries (including as a result of discovery by any Governmental Authority in a future examination, inspection, investigation
or inquiry), taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(i) Neither
the Company nor any of its Subsidiaries currently advises, has plans to commence advising, or in the past three (3) years has advised,
any Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(j) Neither
the Company nor any of its Subsidiary has, in the past three (3) years, entered into or been a party to any effective agreement with any
person to solicit or find investment advisory clients for the Company or any of its Subsidiary, except pursuant to a written agreement
in conformance with the &ldquo;cash solicitation rule&rdquo; or revised &ldquo;marketing rule&rdquo; then applicable under the Investment
Advisers Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.22 <U>Affiliate
Transactions</U>. The Company is not conducting, permitting or suffering to be conducted, transactions with any Affiliate other than transactions
for services in the ordinary course of business pursuant to terms that are no less favorable to such Person than the terms upon which
such transactions would have been made had they been made to or with a Person that is not an Affiliate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.23 <U>Insurance
Regulatory Matters</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) <U>Insurance
Regulatory Matters</U>.&nbsp; The Company has made available to Purchaser true and complete copies of all examination reports (and have
notified Purchaser in writing of any pending examinations to the Knowledge of the Company) conducted by an Insurance Regulator with respect
to the Company or Park Wilshire that have been finalized since January 1, 2019, unless the most recent examination report for the Company
or Park Wilshire was received prior to that date, in which case a true and complete copy of each such earlier examination report.&nbsp;
Since January 1, 2019, no violations have been asserted in writing by any Insurance Regulator, other than any violation which has been
cured or otherwise resolved to the satisfaction of such Insurance Regulator without imposition of any material penalty, condition or obligation
on the Company or Park Wilshire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) <U>Insurance
Contracts</U>. The Company has made available to Purchaser all insurance treaties, agreements, slips, binders, cover notes and similar
arrangements in force as of the date of this Agreement to which the Company or Park Wilshire are a party or otherwise bound (the &ldquo;<U>Insurance
Contracts</U>&rdquo;).&nbsp; For the avoidance of doubt, an Insurance Contract is &ldquo;in force as of the date of this Agreement&rdquo;
if the contract term of such Insurance Contract is in effect on the date of this Agreement.&nbsp; Each Insurance Contract is valid and
binding on the Company or Park Wilshire, and to the Knowledge of the Company, each other party thereto, and is in full force and effect.&nbsp;
The Company or Park Wilshire, and, to the Knowledge of the Company, any other party thereto, have performed all obligations required to
be performed by it under each Insurance Contract.&nbsp; The Company or Park Wilshire have not received notice of the existence of any
event or condition which constitutes, or, after notice or lapse of time or both, will constitute, a default on the part of the Company
or Park Wilshire under any Insurance Contract.&nbsp; To the Knowledge of the Company, there are no events or conditions which constitute,
or, after notice or lapse of time or both, will constitute, a default on the part of any counterparty under such Insurance Contracts.&nbsp;
To the Knowledge of the Company, no counterparty under an Insurance Contract is insolvent or the subject of a rehabilitation, liquidation,
conservatorship, receivership, bankruptcy or similar proceeding. All Insurance Contracts have been issued, to the extent required by applicable
Law, on forms filed with and approved by all applicable Insurance Regulators and other Governmental Authorities, or not objected to by
any such Insurance Regulators or Governmental Authorities within any period provided for objection, and all such forms comply in all material
respects with applicable Laws.&nbsp; All premium rates with respect to the Insurance Contracts, to the extent required by applicable Law,
have been filed with and approved by all applicable Insurance Regulators and other Governmental Authorities or were not objected to by
any such Insurance Regulator or other Governmental Authority within any period provided for objection.&nbsp; All Insurance Contracts issued
by the Company or Park Wilshire have been marketed, sold and issued in compliance in all material respects with all applicable Laws, all
applicable orders and directives of all Insurance Regulators and other Governmental Authorities. There are no unpaid claims or assessments
made against the Company or Park Wilshire by any state insurance guaranty associations, funds or similar organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) <U>Insurance
Licenses</U>. <U>Section 2.23(c)</U> of the Company Disclosure Schedule contains a true and correct list of all state insurance certificates
of authority and all other approvals, authorizations, consents, franchises, licenses, permits, registrations, certificates, accreditations,
qualifications, variances and similar rights to write and/or offer and sell insurance products issued to the Company or Park Wilshire
by any Insurance Regulator or other Governmental Authority (collectively, &ldquo;<U>Insurance Licenses</U>&rdquo;).&nbsp; Each Insurance
License is in good standing and in full force and effect.&nbsp; The Company or Park Wilshire are, and since January 1, 2019 have been,
in material compliance with the terms of the Insurance Licenses and no revocation, lapse, limitation, suspension or cancellation of any
of the Insurance Licenses is pending or, to the Knowledge of the Company, has been threatened in writing.&nbsp; The Company has delivered
or made available to Purchaser true and complete copies of each Insurance License issued to the Company or Park Wilshire.&nbsp; Park Wilshire
is (i) duly licensed and authorized as an insurance company in its jurisdiction of organization (including each jurisdiction in which
it is deemed by applicable Law to be commercially domiciled), and (ii) duly licensed, authorized or otherwise eligible to transact the
business of insurance, as applicable, in each other jurisdiction where it is required to be so licensed, authorized or otherwise eligible
in order to conduct its business as currently conducted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.24
<U>Environmental Matters</U>. (a) The Company is not, or has not been in the past three (3) years, in violation in any material respect
of any applicable Environmental Law; (b) to the Knowledge of the Company, the Company has not released or caused any release of Hazardous
Substances on or from any property currently or formerly owned, leased or operated by the Company (including, without limitation, soils
and surface and ground waters) in violation in any material respect of any Environmental Law in a manner or quantity which requires reporting,
investigation, remediation, monitoring or other response action by the Company pursuant to applicable Environmental Laws; (c) to the
Knowledge of the Company, the Company has not transported or disposed of, or arranged for the transportation or disposal of, Hazardous
Substances at any real property not owned, operated or leased by the Company, in violation in any material respect of any Environmental
Law or otherwise in a manner or quantity that has resulted or would reasonably be expected to result in a material Liability to the Company
under any Environmental Law; (d) the Company has all material permits, licenses and other authorizations required of the Company under
applicable Environmental Law (&ldquo;<U>Environmental Permits</U>&rdquo;); and (e) the Company is in compliance in all material respects
with the terms and conditions of its Environmental Permits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.25 <U>Properties.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) <U>Section
2.25(a)</U> of the Company Disclosure Schedule sets forth, as of the date hereof, a true, correct and complete list of all the real property
owned by the Company and its Subsidiaries (collectively, &ldquo;<U>Owned Real Property</U>&rdquo;). The Company has good and marketable
title to all Owned Real Property, free and clear of all Liens, except Permitted Liens. To the extent the same are in the Company&rsquo;s
actual or constructive possession, the Company has made available to Purchaser true, correct and complete copies of the most recent: (i)
vesting deed, (ii) title commitment, (iii) owner&rsquo;s title insurance policy, and (iv) survey of each parcel of Owned Real Property,
together with copies of any existing mortgages and/or deeds of trust, as well as any related promissory note(s). There are no encroachments
from the Owned Real property onto adjacent property, nor are there any encroachments from any adjacent property onto the Owned Real Property.
Other than the Owned Real Property, the Company and its Subsidiaries do not own and have never owned any real property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) <U>Section
2.25(b)</U> of the Company Disclosure Schedule sets forth as of the date hereof, a true, correct and complete list of all the real estate
leases, subleases, licenses and occupancy agreements (together with any amendments, modifications, supplements, replacements, restatements
and guarantees thereof or thereto, including any oral amendments, each, a &ldquo;<U>Real Property Lease</U>&rdquo;) to which the Company
or any of its Subsidiaries is a party with respect to all real property leased, subleased, licensed or otherwise used or occupied by the
Company or any of its Subsidiaries on the date hereof (collectively, the &ldquo;<U>Leased Real Property</U>&rdquo;). The Company or each
of its Subsidiaries has valid leasehold interests in the Leased Real Property, free and clear of all Liens, except for Permitted Liens,
and with rights to quiet possession and quiet enjoyment that are not violated. Each Real Property Lease is (i) valid, binding and in full
force and effect without material default thereunder by the lessee or, to the Knowledge of the Company, the lessor, and (ii) enforceable
against the Company or the applicable Subsidiary and, to the Knowledge of the Company, any counterparty thereto. The Company and each
of its Subsidiaries has in all material respects performed all obligations required to be performed by it under each Real Property Lease,
and to the Knowledge of the Company, each counterparty to each Real Property Lease has in all material respects performed all obligations
required to be performed by it under such Real Property Lease, and no event or condition exists which constitutes or, after notice or
lapse of time or both, will constitute, a material default on the part of the Company or any of its Subsidiaries under any Real Property
Lease. The Company has not failed and will not fail to exercise any right of renewal with respect to any Real Property Lease except in
the ordinary course of business, consistent with past practice. The Company has made available to Purchaser a true, correct and complete
copy of each Real Property Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) Except
as set forth on <U>Section 2.25(c)</U> of the Company Disclosure Schedule, the consummation of the Transactions contemplated by this Agreement
does not require the consent of any party to any Real Property Lease, and will not result in a breach of or default under such Real Property
Lease or otherwise cause such Real Property Lease to cease to be legal, valid, binding, enforceable and in full force and effect on identical
terms following the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d) Except
as set forth on <U>Section 2.25(d)</U> of the Company Disclosure Schedule, to the Knowledge of the Company, there is no fact or circumstance
which exists that may lead to the material impairment, cancellation or early termination of any Real Property Lease. Except as set forth
on Section 2.25(d) of the Company Disclosure Schedule, to the Knowledge of the Company, there is no fact or circumstance which exists
that may lead to the material impairment of the use, value or occupancy of any Owned Real Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e) Neither
the Company nor any of its Subsidiaries has leased, subleased, licensed or otherwise granted any person a right to use or occupy all or
any portion of any Owned Real Property or Leased Real Property. Other than the Company, there are no Persons occupying any portion of
the Owned Real Property or Leased Real Property, as tenants-at-sufferance, trespassers or otherwise. There are no pending or, to the Knowledge
of the Company, threatened condemnation proceedings, other proceedings or enforcement actions against the Owned Real Property or the Leased
Real Property, nor has the Company received any notice from any insurance company or board of fire underwriters of any circumstance that
could adversely impact the insurability of such property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f) The
Owned Real Property and the Leased Real Property constitute all of the interests in real property used or held for use by the Company
in connection with the operation and conduct of the Company&rsquo;s business, and no operations or conduct of the Company&rsquo;s business
takes place, occurs or is located on lands or premises other than those constituting the Owned Real Property and Leased Real Property.
The Owned Real Property and the Leased Real Property, taken together, constitute all real property required for, and together with all
improvements thereon are sufficient for, the operation and conduct of the Company&rsquo;s business in the ordinary course, as currently
conducted and consistent with past practice. Neither the Owned Real Property or the Leased Real property nor the use or occupancy thereof
violates in any way any applicable permits, licenses, approvals, certificates of occupancy, etc., and all permits, licenses, approvals,
certificates of occupancy, etc. necessary for the conduct of the Company&rsquo;s business in the ordinary course, as currently conducted
and consistent with past practice have been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.26 <U>CFIUS</U>.
The Company hereby represents that it does not (a) produce, design, test, manufacture, fabricate, or develop one or more critical technologies
(as defined in 31 C.F.R. &sect;800.215) or (b) perform the functions as set forth in column 2 of appendix A to 31 C.F.R. Part 800 with
respect to covered investment critical infrastructure.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">2.27 <U>No
Other Representations or Warranties</U>. Except for the express written representations and warranties made by the Company in this <U>Article
2</U> and in any certificate to be delivered by the Company pursuant to this Agreement, neither the Company nor any other Person makes
any express or implied representation or warranty with respect to the Company or any of its Affiliates or with respect to any other information
provided to Purchaser or any of its Affiliates or its and their respective Representatives by or on behalf of the Company or any of its
Subsidiaries in connection with the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">3.
<U>Representations and Warranties of Purchaser</U>. Purchaser hereby represents and warrants to the Company that, except as set forth
on the disclosure schedule delivered by Purchaser to the Company concurrently with the execution and delivery of this Agreement (the
&ldquo;<U>Purchaser Disclosure Schedule</U>&rdquo;) (it being agreed that disclosure of any item in any section of the Purchaser Disclosure
Schedule shall be deemed disclosed with respect to any other section or subsection of this Agreement and the Purchaser Disclosure Schedule
to the extent that the relevance thereof is reasonably apparent on its face), which exceptions shall be deemed to be part of the representations
and warranties made hereunder, the following representations and warranties are true and complete as of the date of this Agreement, except
as otherwise indicated:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.1 <U>Organization,
Corporate Power and Qualification</U>. Purchaser is a company duly organized, validly existing and in good standing under the laws of
the Republic of Korea and has all requisite corporate power and authority to carry on its business as now conducted and as presently proposed
to be conducted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.2
<U>Authorization; Enforceability</U>. Purchaser has all requisite power and authority to enter into, execute, deliver and perform its
obligations under this Agreement and to consummate the Transactions. The Transactions and the execution, delivery and performance by
Purchaser of this Agreement and all other agreements, transactions and actions contemplated hereby or thereby, have been duly and validly
approved and authorized by Purchaser in accordance with applicable Law and Purchaser&rsquo;s organizational documents as currently in
effect (including, without limitation, Purchaser&rsquo;s articles of incorporation). Except for the Purchaser Required Approvals, the
TDI Approval, filing of the CMA Applications, the FINRA Approvals and Purchaser&rsquo;s amendment to the Company Broker Dealers&rsquo;
Form BD to reflect the new ownership and control of the Company (the &ldquo;<U>Form BD Amendment</U>&rdquo;), no approval of any of Purchaser&rsquo;s
Affiliates or related persons (including equityholders, directors, officers and otherwise) is necessary for Purchaser to enter into this
Agreement or to consummate the Transactions. This Agreement, when executed and delivered by Purchaser, shall constitute valid and legally
binding obligations of Purchaser, enforceable against Purchaser in accordance with its terms except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or any other Laws of general application relating to or affecting the
enforcement of creditors&rsquo; rights generally, or (ii) as limited by Laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.3
<U>Governmental Consents and Filings</U>. No consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any federal, state or local Governmental Authority is required on the part of Purchaser or its Affiliates
in connection with the consummation of the Transactions, except for (a) the TDI Approval, the filing of the CMA Applications, the FINRA
Approvals and Form BD Amendment; (b) compliance with the rules and regulations of Nasdaq; (c) compliance with any applicable foreign
or state securities or &ldquo;blue sky&rdquo; Laws; (d) the Purchaser Required Approvals; and (e) those as to which requisite consents,
approvals, authorizations, permits or actions or waivers thereof have been obtained or requisite filings have been made or consents or
notices have been given, and those the failure of which to make, give or obtain would not (A) have, individually or in the aggregate,
a Purchaser Material Adverse Effect or (B) prevent or materially delay the consummation of the Transactions or Purchaser&rsquo;s ability
to observe and perform its material obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.4
<U>Purchase Entirely for Own Account</U>. This Agreement is made with Purchaser in reliance upon such Purchaser&rsquo;s representations
and warranties to the Company, which by Purchaser&rsquo;s execution of this Agreement, Purchaser hereby confirms, that the Second Tranche
Shares to be acquired by Purchaser will be acquired for investment for such Purchaser&rsquo;s own account, not as a nominee or agent,
and not with a view to the resale or distribution of any part thereof, and that Purchaser has no present intention of selling, granting
any participation in, or otherwise distributing the same.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.5
<U>Disclosure of Information</U>. Purchaser has had an opportunity to receive all information related to the Company requested by it
and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the
offering of the Securities. Purchaser acknowledges receipt of copies of the Company SEC Reports. Neither such inquiries nor any other
due diligence investigation conducted by Purchaser shall modify, limit or otherwise affect Purchaser&rsquo;s right to rely on the Company&rsquo;s
representations and warranties contained in this Agreement and to raise any claim based on such representations and warranties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.6
<U>Restricted Securities.</U> Purchaser understands that the Second Tranche Shares have not been, and will not be, registered under the
Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of Purchaser&rsquo;s representations and warranties as expressed
herein. Purchaser understands that the Second Tranche Shares are &ldquo;restricted securities&rdquo; under applicable U.S. federal and
state securities Laws and that, pursuant to these Laws, Purchaser must hold the Second Tranche Shares indefinitely unless they are registered
with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.
Except as provided in the Registration Rights Agreement, Purchaser acknowledges that the Company has no obligation to register or qualify
the Second Tranche Shares for resale. Purchaser further acknowledges that if an exemption from registration or qualification is available,
it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the
Second Tranche Shares, and on requirements relating to the Company which are outside of Purchaser&rsquo;s control, and which the Company
is under no obligation, and may not be able, to satisfy.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.7
<U>Legends.</U> Purchaser understands that the Second Tranche Shares and any securities issued in respect of or exchange for the Second
Tranche Shares, may be notated with one or all of the following legends:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) &ldquo;THE
SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH
A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
THE SECURITIES ACT OF 1933.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Any
legend required by the securities Laws of any state to the extent such Laws are applicable to the Second Tranche Shares represented by
the certificate, instrument, or book entry so legended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><U>3.8
Accredited Investor.</U> Purchaser is an &ldquo;accredited investor&rdquo; as that term is defined in Rule 501(a) of Regulation D under
the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.9
<U>No General Solicitation</U>. Neither Purchaser, nor any of its officers, directors, employees, agents, shareholders or partners has
either directly or indirectly, including, through a broker or finder (a)&nbsp;engaged in any general solicitation, or (b)&nbsp;published
any advertisement in connection with the offer and sale of the Second Tranche Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.10
<U>Exculpation</U> . Purchaser acknowledges that it is not relying upon any Person, other than the Company and its officers and directors,
in making its investment or decision to invest in the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.11
<U>&ldquo;Bad Actor&rdquo; Disqualification.</U> Purchaser is not subject to any of the &ldquo;Bad Actor&rdquo; disqualifications described
in Rule 506(d)(1)(i) to (viii) under the Securities Act (a &ldquo;<U>Disqualification Event</U>&rdquo;), except for a Disqualification
Event covered by Rule 506(d)(2) or (d)(3).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.12
<U>Sanctions Laws.</U> Purchaser represents and warrants that Purchaser, the investors thereof, and each of their direct and indirect
equity holders up to and including the ultimate parent entity of each investor, and their respective members, directors, officers, and
employees, are not as of the Effective Date and will not be as of the Closing: (a) the target of any Sanctions; (b) located, organized,
or resident in any jurisdiction that is the subject of comprehensive Sanctions, including Cuba, Iran, North Korea, Syria, and the Crimea,
so-called Donetsk People&rsquo;s Republic, and so-called Luhansk People&rsquo;s Republic regions of Ukraine; or (c) owned 50% or more
or controlled by any Person described in (a) or (b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.13 <U>Finders&rsquo;
Fees</U>. Except as set forth in Section 3.13 of the Purchaser Disclosure Schedule, no agent, broker, investment banker or financial advisor
retained by Purchaser is or will be entitled to any broker&rsquo;s or finder&rsquo;s fee or any other similar commission or fee payable
by the Company or any Subsidiary of the Company in connection with any of the Transactions.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">3.14 <U>No
Other Representations or Warranties; No Reliance</U>. Except for the express written representations and warranties made by Purchaser
in this <U>Article 3</U> and in any certificate delivered by Purchaser pursuant to this Agreement, none of Purchaser or any other Person
makes any express or implied representation or warranty with respect to Purchaser or any of its Affiliates or with respect to any other
information provided to the Company or any of its Affiliates or its and their respective Representatives by or on behalf of Purchaser
in connection with the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">4. <U>Covenants
of the Parties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.1
<U>Board</U>. On or before the Closing Date, subject to the fiduciary duties of the Board, the Company agrees to, and shall take, or
cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to, (i) establish the size of
the Board at seven (7) directors, (ii) create at least four (4) vacancies on the Board and (iii) nominate such number of persons designated
by Purchaser for election as directors at a meeting of the stockholders of the Company at which directors are to be elected and shall
take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to vote in favor of
those persons to be appointed as a director of the Company, such that four (4) directors of the Company are persons designated by Purchaser
as at the Closing Date, each of whom (1) must meet the qualifications required by the rules of the SEC and Nasdaq and the Company Organizational
Documents to serve on the Board and, (2) whose designation otherwise shall comply with the terms of the Stockholders Agreement (as defined
in the First Tranche Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.2 <U>No
Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a) From
the Effective Date until the earlier of the Closing or the termination of this Agreement in accordance with <U>Article 7</U>, except as
specifically permitted by this <U>Section 4.2</U>, the Company shall not, and shall cause each of its Subsidiaries, directors, executive
officers and controlled Affiliates not to, and shall instruct its other Representatives not to, directly or indirectly: (i) solicit, initiate,
facilitate or knowingly encourage, directly or indirectly, any inquiries, offers or proposals that constitute, or would reasonably be
expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations with (or inquiries, proposals or offers or other
efforts that could reasonably be expected to lead to any Alternative Proposal), furnish or disclose any non-public information relating
to the Company or any of its Subsidiaries to any Person that has made any Alternative Proposal; (iii) amend or grant any waiver or release
under any standstill or similar agreement with respect to any class of equity securities of the Company; (iv)&nbsp;approve, endorse, recommend,
execute or enter into any agreement in principle, letter of intent, memorandum of understanding, term sheet, acquisition agreement, merger
agreement, option agreement, joint venture agreement, partnership agreement or other written arrangement relating to any Alternative Proposal
(each, a &ldquo;<U>Company Acquisition Agreement</U>&rdquo;) or any proposal or offer that could reasonably be expected to lead to an
Alternative Proposal, or (v)&nbsp;resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives
to take any such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b) Effective
upon the Effective Date, the Company shall, and shall cause each of its Subsidiaries, Representatives and Subsidiaries&rsquo; Representatives
to, immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. The Company shall promptly inform its Representatives and its Subsidiaries&rsquo; Representatives of the Company&rsquo;s obligations
under this <U>Section 4.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c) The
Company shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. The Company shall keep Purchaser reasonably informed
on a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request,
including the material terms and conditions thereof and any material amendments or proposed amendments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></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; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   Notwithstanding
anything to the contrary in this <U>Section 4.2</U>, the Company (acting upon the recommendation of the Special Committee) or the Special
Committee may, subject to prior written notice to Purchaser: (i) engage in discussions or negotiate with, or furnish or disclose any non-public
information relating to the Company or any of its Subsidiaries to any Person who has or Persons who have made a bona fide, written and
unsolicited Alternative Proposal if the Special Committee determines that such Alternative Proposal may result in a Superior Proposal,
but only so long as the Company has caused such Person or Persons to enter into a confidentiality agreement with the Company with terms
and conditions customary for transactions of such type (a copy of which shall be promptly (in all events within forty-eight (48) hours)
provided to Purchaser), and the Special Committee has, in good faith, (x) determined, based on the information then available and after
consultation with its financial advisor, that such bona fide, written and unsolicited Alternative Proposal either constitutes a Superior
Proposal or would reasonably be expected to lead to, or result in, a Superior Proposal, and (y) determined, after consultation with outside
legal counsel, that the failure to take such action could be inconsistent with the directors&rsquo; fiduciary duties under applicable
Law; and (ii) enter into an agreement, arrangement or understanding providing for the implementation of a Superior Proposal (an &ldquo;<U>Alternative
Acquisition Agreement</U>&rdquo;) and terminate this Agreement pursuant to <U>Section 7.4(a)</U>, if, and only if, (A) the Company and
their respective Representatives have not breached any of their obligations under this <U>Section 4.2</U>, (B) the Board (acting on the
recommendation of the Special Committee) or the Special Committee, in good faith, after consultation with its financial advisor and its
outside legal counsel, determines (x) that a bona fide, written and unsolicited Alternative Proposal constitutes a Superior Proposal and
(y) that failure to enter into an Alternative Acquisition Agreement and terminate this Agreement, pursuant to <U>Section 7.4(a)</U>, could
be inconsistent with the directors&rsquo; fiduciary duties under applicable Law, and (C) the Company notifies Purchaser in writing that
the Board (acting on the recommendation of the Special Committee) or the Special Committee has made the determinations provided in the
foregoing clause (x) and (y) ten (10) calendar days (the &ldquo;<U>Company Notice Period</U>&rdquo;) prior to terminating this Agreement
pursuant to <U>Section 7.4(a)</U> or changing its recommendation to stockholders pursuant to <U>Section 4.2(e)</U>, which notice shall
(1) state expressly that the Company has received an Alternative Proposal that the Board intends to declare a Superior Proposal and that
the Board intends to change its recommendation to stockholders pursuant to <U>Section 4.2(e)</U> and/or the Company intends to enter into
a Company Acquisition Agreement, and (2) include a copy of the most current version of the proposed agreement relating to such Superior
Proposal (which version shall be updated on a prompt basis), and a description of any financing commitments relating thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   Neither
the Special Committee nor the Board shall withdraw, modify or amend, or propose to withdraw the Board&rsquo;s recommendation to the Company
stockholders that they vote in favor of approval of the Second Tranche (the &ldquo;<U>Board Recommendation</U>&rdquo;) in any manner adverse
to Purchaser unless the Company terminates this Agreement as provided in <U>Section 4.2(d)</U> pursuant to <U>Section 7.4(a)</U>. The
Company shall, and shall instruct its Representatives to, during the Company Notice Period (which may be extended by mutual written consent
between the Parties), negotiate with Purchaser in good faith in respect of adjustments in the terms and conditions of this Agreement such
that such Alternative Proposal would cease to constitute a Superior Proposal, if the Company, in its sole discretion, proposes to make
such adjustments (it being agreed that in the event that, after commencement of the Company Notice Period, there is any revision to the
terms of a Superior Proposal, including, any revision in price, the Company Notice Period shall be extended by four (4) Business Days
(it being understood that there may be multiple extensions)). If, following the end of such Company Notice Period (as extended pursuant
to the preceding sentence), the Board determines in good faith, after consulting with outside financial advisor and legal counsel, that
such Alternative Proposal continues to constitute a Superior Proposal after taking into account any adjustments made by Purchaser during
the Company Notice Period upon the terms and subject to the conditions of this Agreement, provided that the Company shall have complied
with its obligations under this <U>Section 4.2(e)</U>, and the Board shall terminate this Agreement pursuant to <U>Section 7.4(a)</U>
to enter into a Company Acquisition Agreement, the Company shall concurrently pay to Purchaser the Termination Fee due under <U>Section
7.6(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   Nothing
set forth in this Agreement shall prohibit the Company from (i) complying with its disclosure obligations under U.S. federal or state
Law with regard to an Alternative Proposal, (ii) taking and disclosing to the stockholders of the Company any position contemplated by
Rule 14d-9, Rule 14e-2(a) or Item 1012(a) of Regulation M-A promulgated under the Exchange Act, or (iii) making any &ldquo;stop, look
and listen&rdquo; or similar communication of the type contemplated by Rule 14d-9(f) under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.3   <U>Proxy
Statement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   As
promptly as practicable after the date on which the conditions set forth is <U>Section 5.8</U> and <U>Section 5.9</U> are satisfied, the
Company shall prepare and file with the SEC the Proxy Statement in preliminary form. The Company shall cause the Proxy Statement to comply
as to form and substance in all material respects with the requirements of applicable Laws. Purchaser shall furnish all information concerning
itself as the Company may reasonably request in connection with the preparation of the Proxy Statement; <U>provided</U>, that the Company
assumes no responsibility with respect to information supplied by or on behalf of Purchaser and its Affiliates or their respective Representatives
for inclusion or incorporation by reference in the Proxy Statement. As promptly as practicable after the SEC confirms orally or in writing
that it has no further comments to the Proxy Statement or that it does not intend to review the Proxy Statement (the &ldquo;<U>Clearance
Date</U>&rdquo;), the Company shall file a definitive Proxy Statement with the SEC and shall mail notice of the Company Stockholders Meeting
and the Proxy Statement (collectively, the &ldquo;<U>Company Proxy Materials</U>&rdquo;) to the stockholders of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   The
Proxy Statement shall include the Board Recommendation, except to the extent that the Board shall have withdrawn, modified or amended
the Board Recommendation in accordance with <U>Section 4.2(e)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   To
the fullest extent permitted by applicable Law, no amendment or supplement to the Proxy Statement shall be made without the approval of
Purchaser, which approval shall not be unreasonably withheld, delayed or conditioned, provided that the restrictions set forth in this
Section 4.3(c) shall not apply to any amendment or supplement in response to an Alternative Proposal or in connection with change of the
Board Recommendation in accordance with the provisions of this Agreement. The Company shall promptly advise Purchaser upon becoming aware
of any comments, responses or requests from the SEC relating to the Proxy Materials, this Agreement, or the Transactions and shall promptly
reply to and/or amend the Proxy Statement in response to any comments from the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   The
information supplied by the Parties for inclusion in the Proxy Statement and shall not, at (i) the time the Proxy Materials (or any amendment
of or supplement to the Proxy Materials) are mailed to the stockholders of the Company, (ii) the time of the Company Stockholders Meeting
and (iii) the Closing Date, contain any misstatement of material fact or omit to state any material fact necessary to make the statements
therein, in light of the circumstances under which they are made, not misleading. If, at any time prior to the Closing Date Time, (x)
any information relating to the Company or any of its Subsidiaries should be discovered by the Company or any of its Subsidiaries that
should be set forth in an amendment or a supplement to the Proxy Statement so that the Proxy Statement would not include any misstatement
of material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which
they are made, not misleading, the Company shall promptly inform Purchaser and (y) any information relating to Purchaser should be discovered
by Purchaser that should be set forth in an amendment or supplement to the Proxy Statement so that the Proxy Statement would not include
any misstatement of material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances
under which they are made, not misleading, Purchaser shall promptly inform the Company; <U>provided</U>, that (A) the Company assumes
no responsibility with respect to information supplied by or on behalf of Purchaser or its Affiliates or their respective Representatives
for inclusion or incorporation by reference in the Proxy Statement and (B) Purchaser assumes no responsibility with respect to information
supplied by or on behalf of the Company, its controlled Affiliates or their respective Representatives for inclusion or incorporation
by reference in the Proxy Statement . All documents that the Company is responsible for filing with the SEC in connection with the Transactions
shall comply as to form and substance in all material respects with the applicable requirements of the New York General Corporate Law,
the Securities Act and the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

<!-- Field: Page; Sequence: 28; 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; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.4   <U>Company
Stockholder Meeting</U>. The Company shall take all lawful actions necessary to call and hold the Company Stockholders Meeting as promptly
as practicable after the Clearance Date. The Company shall adjourn the Company Stockholders Meeting only if needed to obtain additional
proxies or votes in favor of the issuance of the Second Tranche Shares. Subject to the Board&rsquo;s and the Special Committee&rsquo;s
fiduciary obligations under applicable Law, the Company shall use its reasonable best efforts to solicit or cause to be solicited from
the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche Shares in accordance with this Agreement and to
secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.5
<U>CFIUS</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Pursuant
to the DPA, the Company and Purchaser shall cooperate to prepare and file with CFIUS: (1) a draft joint voluntary notice with respect
to the Second Tranche (the &ldquo;Draft CFIUS Notice&rdquo;) as soon as practicable following the date of this Agreement, and (2) a joint
voluntary notice (&ldquo;CFIUS Filing&rdquo;) as soon as practicable following the receipt of CFIUS&rsquo;s comments on the Draft CFIUS
Notice or confirmation by CFIUS that it has no comments. Each of the Parties shall use its reasonable best efforts to: (i) cooperate in
all respects with each other in connection with any filing or submission and in connection with any inquiries; (ii) to the extent not
prohibited by a Governmental Authority, promptly inform the other Party of any communication and supply to the other Party any written
communication received by such Party from CFIUS or any other Governmental Authority; (iii) permit counsel for the other Party reasonable
opportunity to review in advance, and consider in good faith, the views of the other Party in connection with, any proposed written communication
to CFIUS pertaining to the substance of the CFIUS Filing or substantive matters related to the CFIUS process, and any Party engaging in
telephonic discussions with CFIUS shall promptly inform the other Party of such discussion; provided that this Section 4.05(a) shall not
apply to the extent such communications (1) involve confidential business information, or (2) relate purely to administrative matters
such as the scheduling of calls, submission logistics, and non-substantive process steps. No Party shall independently participate in
any in-person meeting or video conference with any Governmental Authority with respect to any filings, review, investigation or other
inquiry without giving the other Party sufficient prior notice of the meeting and, to the extent permitted by such Governmental Authority,
give the other Party the opportunity to participate in such meetings and conferences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Each
of the Parties shall exercise reasonable best efforts to obtain CFIUS Approval; provided that for purposes of this 4.5(b) &ldquo;reasonable
best efforts&rdquo; shall not require Purchaser to agree to any action, condition, or restriction required by CFIUS in connection with
CFIUS Approval that would materially interfere with Purchaser&rsquo;s ability to operate or manage the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
Company and Purchaser shall each be responsible for their respective attorneys&rsquo; fees and related expenses associated with the preparation
and submission of a CFIUS Filing and the pursuit of CFIUS Approval. The Purchaser shall be responsible for the filing fee required in
connection with the CFIUS Filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.6   <U>Further
Action; Reasonable Best Efforts</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Upon
the terms and subject to the conditions of this Agreement, each of the Company and Purchaser shall (i) at the request of the other Party,
execute and deliver such other instruments and do and perform such other acts and things as may be reasonably necessary or desirable for
effecting completely the consummation of the Transactions and (ii) use its reasonable best efforts to take promptly, or cause to be taken,
all appropriate action, and to do promptly, or cause to be done, all things necessary, proper or advisable under applicable Laws or otherwise
to consummate and make effective the Transactions, to satisfy the conditions to the obligations to consummate the Second Tranche, to effect
all necessary registrations and filings and to remove any injunctions or other impediments or delays, legal or otherwise, in order to
consummate and make effective the Transactions for the purpose of securing to the Parties hereto the benefits contemplated by this Agreement,
including, without limitation, using its reasonable best efforts to obtain all permits, consents, waivers, approvals, authorizations,
qualifications and Orders of Governmental Authorities as are necessary for the consummation of the Transactions, including the TDI Approval,
the CMA Applications, the FINRA Approvals and the Form BD Amendment, and to fulfill the conditions to the Second Tranche. If, at any time
after the Effective Date, any further action is necessary or desirable to carry out the purposes of this Agreement, the proper officers,
managers and directors of each of the Company and Purchaser shall use their reasonable best efforts to take all such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Each
of the Parties shall (and shall cause each of its Affiliates to) keep each other apprised of the status of matters relating to the Transactions,
including promptly notifying the other Party of any communication it or any of its Affiliates receives from any Governmental Authority
relating to the matters that are the subject of this Agreement and permitting the other Party to review in advance, and to the extent
reasonably practicable consult about, any proposed communication by such Party to any Governmental Authority in connection with the Transactions.
No Party to this Agreement shall agree to participate in any meeting with any Governmental Authority in respect of any filings, investigation
or other inquiry unless, to the extent reasonably practicable, it consults with the other Party in advance and, to the extent permitted
by such Governmental Authority, gives the other Party the opportunity to attend and participate at such meeting. Subject to the terms
of the Confidentiality Agreement, the Parties will coordinate and cooperate fully with each other in exchanging such information and providing
such assistance as the other Parties may reasonably request in connection with the foregoing. Subject to the terms of the Confidentiality
Agreement, the Parties will provide each other with copies of all material correspondence, filings or communications, including any documents,
information and data contained therewith, between them or any of their Representatives, on the one hand, and any Governmental Authority
or members of its staff, on the other hand, with respect to this Agreement and the Transactions. No Party shall take or cause to be taken
any action before any Governmental Authority that is inconsistent with or intended to delay its action on requests for a consent or the
consummation of the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.7   <U>Conduct
of Business by the Company Pending the Closing</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company agrees that, between the date of this Agreement and the Closing or the earlier termination of this Agreement, except as (i) expressly
contemplated by any other provision of this Agreement, (ii) set forth in <U>Section 4.7(a)</U> of the Company Disclosure Schedule, or
(iii) required by applicable Law (including (x) as may be requested or compelled by any Governmental Authority and (y) COVID-19 Measures),
unless Purchaser shall otherwise consent in writing (which consent shall not be unreasonably conditioned, withheld or delayed):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i)   the
Company shall conduct its and its Subsidiaries&rsquo; business in the ordinary course of business and in a manner consistent with past
practice; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii)   the
Company shall use its commercially reasonable efforts to preserve substantially intact the current business organization of the Company
and its Subsidiaries, to keep available the services of the current officers, key employees and consultants of the Company and its Subsidiaries
and to preserve intact the current business relationships and ongoing relationships of the Company and its Subsidiaries with customers,
suppliers, joint venture partners, distributors, creditors, landlords and other business relations of the Company and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   By
way of amplification and not limitation, except (i) as expressly contemplated by any other provision of this Agreement, (ii) as set forth
in Section&nbsp;4.7(b) of the Company Disclosure Schedule, or (iii) as required by applicable Law (including (x) as may be requested or
compelled by any Governmental Authority and (y) COVID-19 Measures), the Company shall not, and shall cause its Subsidiaries not to, between
the date of this Agreement and the Closing or the earlier termination of this Agreement, directly or indirectly, do any of the following
without the prior written consent of Purchaser (which consent shall not be unreasonably conditioned, withheld or delayed):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(i)   amend
or otherwise change the Company Organizational Documents or equivalent organizational documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ii)   form
or create any Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iii)   issue,
sell, pledge, dispose of, grant or encumber, or authorize the issuance, sale, pledge, disposition, grant or encumbrance of, (x)&nbsp;any
shares of any class of capital stock of the Company or its Subsidiaries, or any options, warrants, convertible securities or other rights
of any kind to acquire any shares of such capital stock, or any other ownership interest (including, without limitation, any phantom interest),
of the Company or its Subsidiaries, or (y) except in the ordinary course of business and in a manner consistent with past practice, any
material assets of the Company or its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(iv)   declare,
set aside, make or pay any dividend or other distribution, payable in cash, stock, property or otherwise, with respect to any of its capital
stock or other equity interests, including, but not limited to, any distribution or dividend derived from the funds paid by Purchaser
to the Company for the purchase of the First Tranche Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(v)   reclassify,
combine, split, subdivide or redeem, or purchase or otherwise acquire, directly or indirectly, any of its capital stock, other than redemptions
of equity securities from former employees upon the terms set forth in the underlying agreements governing such equity securities or other
equity interests;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vi)   (x)&nbsp;acquire
(including, without limitation, by merger, consolidation, or acquisition of stock or assets or any other business combination) any corporation,
partnership, other business organization or any division thereof in an amount in excess of $250,000; or (y)&nbsp;incur any indebtedness
for borrowed money in excess of $250,000 or issue any debt securities or assume, guarantee or endorse, or otherwise become responsible
for, the obligations of any person, or make any loans or advances, or intentionally grant any security interest in any of its assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(vii)   (w)
grant any increase in the compensation or benefits payable or to become payable to any current or former director, officer, employee or
consultant of the Company or its Subsidiaries, other than increases in base compensation to employees or other individual service providers
whose base compensation would not exceed, on an annualized basis, $200,000 or immaterial benefit increases on account of annual renewals
of the Company&rsquo;s or its Subsidiaries&rsquo; health and welfare programs, (x) amend any existing Service Agreement with, or terminate
or enter into any severance or termination agreement with, or grant any change of control or retention payments or benefits to, in each
case, any current or former director, officer, employee or consultant whose base compensation would exceed, on an annualized basis, $200,000,
(y) take any action that will result in the acceleration of vesting or payment timing or requirement for funding of any compensation or
benefits to any current or former director, officer, employee or consultant of the Company or its Subsidiaries, or (z) hire or otherwise
enter into any new Service Agreement or similar arrangement with any person whose base compensation would exceed, on an annualized basis,
$200,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(viii)
institute a layoff resulting in a mass layoff within the meaning of the WARN Act or any similar state Law;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(ix)   voluntarily
recognize a labor union or similar organization or enter into a collective bargaining agreement or other labor union contract;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(x)   other
than as required by Law, grant any severance or termination pay to, any director, officer, or other employee of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xi)   adopt,
amend and/or terminate any Employee Plan (or any arrangement that would be considered an Employee Plan if in effect on the date hereof)
except (x) as may be required by applicable Law or (y) in the event of annual renewals of health and welfare programs in the ordinary
course and consistent with past practice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xii)   except
in the ordinary course of business, make any material tax election, amend any income Tax Return or other material Tax Return or settle
or compromise any material United States federal, state, local or non-United States income tax liability, in each case, that would reasonably
be expected to have an adverse impact on the Company or its Subsidiaries or the Transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xiii)   materially
amend, or modify or consent to the termination (excluding any expiration in accordance with its terms) of any Material Contract or amend,
waive, modify or consent to the termination (excluding any expiration in accordance with its terms) of the Company&rsquo;s material rights
thereunder, in each case in a manner that is adverse to the Company and its Subsidiaries, taken as a whole;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xiv)
(x) other than statutory expirations for any registered Company Owned IP and Company Licensed IP (&ldquo;<U>Company IP</U>&rdquo;) cause
any material item of Company IP to lapse or to be abandoned, invalidated, dedicated to the public, or disclaimed, or otherwise become
unenforceable or fail to perform or make any applicable filings, recordings or other similar actions or filings, (y) fail to pay all required
fees and Taxes required or advisable to maintain and protect its interest in any material Company IP or (z) sell, assign, license or sublicense
(other than nonexclusive licenses and sublicenses of Company IP granted in the ordinary course of business) any material item of Company
IP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xv)   acquire
any fee interest in real property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xvi)   modify
any privacy policy or the operation or security of any Business Systems in any manner that is materially adverse to the business of the
Company, except as required by Privacy/Data Security Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xvii)   waive,
release, compromise, settle or satisfy any pending or threatened material claim or compromise or settle any liability, other than in the
ordinary course of business or that do not exceed $250,000 in the aggregate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xviii)   enter
into any material new line of business outside of the business currently conducted by the Company or its Subsidiaries; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">(xix)   enter
into any agreement or otherwise make a binding commitment to do any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.8   <U>Access
to Information; Confidentiality</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   From
the Effective Date until the Closing, the Company Group, on the one hand, and Purchaser, on the other hand, shall: (i) provide to the
other Party (and the other Party&rsquo;s Representatives) access at reasonable times upon prior notice to the officers, employees, agents,
properties, offices and other facilities of such Party and to the books and records thereof; and (ii) furnish promptly to the other Party
such information concerning the business, properties, contracts, assets, Liabilities, personnel and other aspects of such Party as the
other Party or its Representatives may reasonably request; <U>provided</U>, <U>however</U>, that (x) the Company Group, Purchaser, and
their respective Representatives shall conduct any such activities in such a manner as not to unreasonably interfere with the business
or operations of the other Party; and (y) nothing herein shall require the Company and Purchaser to provide access to, or to disclose
any information to, the other Party or any of its Representatives if such access or disclosure, in the good faith reasonable belief of
such Party, (A) would waive any legal privilege or (B) would be in violation of applicable Laws or regulations of any Governmental Authority
or the provisions of any agreement to which such Party is a Party (taking into account the confidential nature of the disclosure); <U>provided</U>,
that, in each case, the Company and Purchaser shall use their respective reasonable best efforts to provide such access as can be provided
(or otherwise convey such information regarding the applicable matter as can be conveyed) in a manner without violating such privilege,
contract or Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   All
information obtained by the Parties pursuant to this <U>Section 4.8</U> shall be kept confidential in accordance with that certain Mutual
Non-Disclosure Agreement dated October 20, 2022, by and between the Company and Purchaser (the &ldquo;<U>Confidentiality Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.9   <U>Public
Announcements</U>. The initial press release relating to this Agreement shall be a joint press release the text of which has been agreed
to by each of Purchaser and the Company. Thereafter, between the date of this Agreement and the Closing Date or the earlier termination
of this Agreement in accordance with Article 7, unless otherwise required by applicable Law (including the filing of a current report
on Form 8-K within four (4) business days following the entrance into a material definitive agreement) or the requirements of Nasdaq or
the Korea Exchange (in which case Purchaser and the Company shall each use their reasonable best efforts to consult with each other before
making any required public statement or communication and coordinate such required public statement or communication with the other Party,
prior to announcement or issuance), no Party to this Agreement shall make any other public statement or issue any other public communication
regarding this Agreement or the Transactions without the prior written consent of Purchaser and the Company, in each case, which consent
shall not be unreasonably withheld, conditioned or delayed; provided, however, (i) each Party hereto and its Affiliates may make internal
announcements regarding this Agreement and the Transactions to their respective directors, officers, managers and employees without the
consent of any other Party hereto and may make public statements regarding this Agreement and the Transactions containing information
or events already publicly known other than as a result of a breach of this <U>Section 4.9</U> and (ii) the restrictions set forth in
this <U>Section 4.9</U> shall not apply to such release, statement, announcement, or other disclosure that is strictly made with respect
to, (x) in the case of the Company, communications in response to an Alternative Proposal or in connection with change of the Board Recommendation
in accordance with the provisions of <U>Section 4.2(d)</U> or (y) as required by applicable Laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.10   <U>Notification
of Certain Matters</U>. The Company shall give prompt notice to Purchaser, and Purchaser shall give prompt notice to the Company, of (a)&nbsp;receipt
of any notice or other communication in writing from any Person alleging that the consent or approval of such third-party is or may be
required in connection with the Transactions or (b) the occurrence, or non-occurrence, of any event the occurrence, or non-occurrence,
of which would reasonably be expected to cause the conditions set forth in <U>Article 5</U> and <U>Article 6</U> to not be satisfied;
<U>provided</U>, <U>however</U>, that the delivery of any notice pursuant to this <U>Section 4.10</U> shall not limit or otherwise affect
the remedies available hereunder to the Party receiving such notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.11   <U>Financing</U>.
Purchaser shall use commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things
necessary, proper or advisable to arrange and obtain financing necessary to complete the purchase of the Second Tranche Shares on the
terms set forth in this Agreement. For the avoidance of doubt, financing shall not be a condition to the closing of the Transactions set
forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.12   <U>FINRA
Approvals</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   As
soon as reasonably practicable following the date hereof, but, in no event more than thirty (30) days from the date hereof, the Company
shall prepare and submit an application with FINRA including a Form CMA (the &ldquo;<U>CMA Application</U>&rdquo;) consistent with the
requirements of FINRA Rule 1017 seeking approval of the change of ownership and control of the Company contemplated by this Agreement.
The CMA Applications shall be subject to the approval of Purchaser, which approval shall not be unreasonably withheld, conditioned or
delayed. Purchaser shall (and shall cause its Affiliates to) timely provide to the Company all information required to complete the CMA
Applications and respond to any further FINRA requests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Purchaser
acknowledges and agrees that, notwithstanding anything in this Agreement to the contrary, the Company shall not be obligated to take any
action that would reasonably be expected to give rise to any requirement for an application pursuant to FINRA Rule 1017(a)(5) (<I>i.e.</I>,
a material change in business operations) for approval of any material change in the operations of the Company&rsquo;s business in connection
with the transactions contemplated hereby prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   Notwithstanding
anything to the contrary contained herein: (i) the application fee due to FINRA for the CMA Applications and the fixed fee of a consultant
designated by Company and reasonably acceptable to Purchaser (which acceptance shall not be unreasonably withheld, conditioned or delayed)
to assist with the preparation and submission of the CMA Application shall be borne by the Company; (ii) all other costs or expenses (including
reasonable legal fees) incurred by Purchaser, or the Company in connection with the CMA Applications shall be borne equally by Purchaser
and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.13   <U>Listing
of Common Stock.</U> The Company shall use its reasonable best efforts to cause the shares of Common Stock to be issued in connection
with the Second Tranche to be listed on Nasdaq, subject to official notice of issuance, prior to the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">4.14 <U>Investment
Adviser Matters. </U>The Company shall use its reasonable best efforts to obtain all IMA Consents as soon as possible following the
Effective Date and, in any case, prior to the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">5. <U>Conditions
to Purchaser&rsquo;s Obligations at the Closing.</U> The obligations of Purchaser to purchase the Second Tranche Shares at the
Closing are subject to the fulfillment, on or before such Closing, of each of the following conditions, unless otherwise waived:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.1
<U>Representations and Warranties</U>. The representations and warranties of the Company contained in <U>Section 2.1</U> (Organization,
Good Standing, Corporate Power and Qualification), <U>Section 2.3</U> (Authorization; Enforceability), <U>Section 2.4</U> (Valid Issuance
of Shares) and <U>Section 2.19</U> (Finders&rsquo; Fees) shall each be true and correct in all material respects as of the Closing Date
as though made on the Closing Date, except to the extent that any such representation and warranty expressly speaks as of an earlier
date, in which case such representation and warranty shall be true and correct as of such earlier date. The representations and warranties
of the Company contained in <U>Section 2.2</U> (Capitalization), shall each be true and correct in all respects other than <I>de minimis
</I>inaccuracies as of the Closing Date as though made on the Closing Date, except to the extent that any such representation and warranty
expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date.
All other representations and warranties of the Company contained in this Agreement shall be true and correct (without giving any effect
to any limitation as to &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; or any similar limitation set forth therein)
in all respects as of the Closing Date, as though made on and as of the Closing Date, except (a) to the extent that any such representation
and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such
earlier date and (b) where the failure of such representations and warranties to be true and correct (whether as of the Closing Date
or such earlier date), taken as a whole, does not result in a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.2
<U>Performance</U>. The Company shall have performed and complied with, in all material respects, all covenants, agreements, obligations
and conditions contained in this Agreement that are required to be performed or complied with by the Company on or before the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.3
<U>Compliance Certificate</U>. An executive officer of the Company shall deliver to the Purchaser at the Closing a certificate certifying
that the conditions specified in <U>Section 5.1</U> and <U>Section 5.2</U> have been fulfilled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.4 <U>Qualifications</U>.
All authorizations, approvals or permits, if any, of any Governmental Authority or regulatory body of the United States (including
FINRA, CFIUS and TDI) or of any state that are required in connection with the lawful issuance and sale of the Second Tranche Shares
pursuant to this Agreement shall be obtained and effective as of such Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.5   <U>No
Order</U>. No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law, rule, regulation, judgment,
decree, executive order or award which is then in effect and has the effect of making the Transactions illegal or otherwise prohibiting
consummation of the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.6   <U>Requisite
Stockholder Approval</U>. The Requisite Stockholder Approval shall have been obtained.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.7
<U>Purchaser Required Approvals</U>. The Purchaser Required Approvals shall have been obtained or provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.8
<U>Closing Condition 1.</U> The Closing Condition 1 as defined in Section 5.8 of the Purchaser Disclosure Schedule shall have been satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.9   <U>Closing
Condition 2</U>. The Closing Condition 2 as defined in Section 5.9 of the Purchaser Disclosure Schedule shall have been satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.10   <U>Employment
Agreements and Consulting Agreements</U>. The Company or Muriel Siebert &amp; Co., Inc., as applicable, on the one hand and each of the
Key Consulting Personnel and Key Personnel on the other, shall have entered into Employment Agreement or Consulting Agreement, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.11   <U>Material
Adverse Effect</U>. No Material Adverse Effect shall have occurred between the date of this Agreement and the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.12   <U>Purchaser&rsquo;s
Designee</U>. The Purchaser&rsquo;s Designees shall have been appointed to the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.13   <U>The
IMA Consents</U>. IMA Consents representing at least 75% of the total advisory fees payable pursuant to the Company Financial Advisor&rsquo;s
investment management agreements in force immediately prior to the Closing, shall have been obtained.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.14   <U>Third
Party Consents</U>. All third party written consents, approvals and authorizations in connection with Transactions set forth on <U>Section
5.14</U> of the Company Disclosure Schedule, in a form satisfactory to Purchaser, shall have been obtained by the Company, and the Company
shall have delivered to Purchaser copies of all such third party written consents, approvals and authorizations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.15
<U>FINRA Approvals; Form BD Amendment</U>. The FINRA Approvals shall have been obtained and the Form BD Amendment shall have been filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.16
<U>Support and Restrictive Covenant Agreement</U>. The Support and Restrictive Covenant Agreement shall be in full force and effect without
modification, alteration, recission or suspension of any kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">5.17
<U>Listing of Common Stock</U>. The shares of Common Stock issuable in the Second Tranche pursuant to this Agreement shall have been
approved for listing on Nasdaq, subject to official notice of issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></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; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">6.
<U>Conditions of the Company&rsquo;s Obligations at the Closing</U>. The obligations of the Company to sell the Second Tranche Shares
to Purchaser at the Closing are subject to the fulfillment, on or before such Closing, of each of the following conditions, unless otherwise
waived:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.1
<U>Representations and Warranties</U>. The representations and warranties of Purchaser contained in <U>Section 3.1</U> (Organization,
Good Standing Corporate Power and Qualification), <U>Section 3.2</U> (Authorization; Enforceability) and <U>Section 3.12</U> (Finders&rsquo;
Fees) shall each be true and correct in all material respects as of the Closing Date as though made on the Closing Date, except to the
extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty
shall be true and correct as of such earlier date. All other representations and warranties of Purchaser contained in this Agreement
shall be true and correct (without giving any effect to any limitation as to &ldquo;materiality&rdquo; or &ldquo;Purchaser Material Adverse
Effect&rdquo; or any similar limitation set forth therein) in all respects as of the Closing Date, as though made on and as of the Closing
Date, except (a) to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation
and warranty shall be true and correct as of such earlier date and (b) where the failure of such representations and warranties to be
true and correct (whether as of the Closing Date or such earlier date), taken as a whole, does not result in a Purchaser Material Adverse
Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.2
<U>Performance</U>. Purchaser shall have performed and complied with, in all material respects, all covenants, agreements, obligations
and conditions contained in this Agreement that are required to be performed or complied with by Purchaser on or before the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.3   <U>Compliance
Certificate</U>. An executive officer of Purchaser shall deliver to the Company at the Closing a certificate certifying that the conditions
specified in <U>Section 6.1</U> and <U>Section 6.2</U> have been fulfilled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.4
<U>Qualifications</U>. All authorizations, approvals or permits, if any, of any Governmental Authority or regulatory body of the United
States (including FINRA, CFIUS and TDI) or of any state that are required in connection with the lawful issuance and sale of the Second
Tranche Shares pursuant to this Agreement shall be obtained and effective as of such Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.5   <U>No
Order</U>. No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law, rule, regulation, judgment,
decree, executive order or award which is then in effect and has the effect of making the Transactions illegal or otherwise prohibiting
consummation of the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.6   <U>Approval
of a Majority-of-the-Minority of the Company&rsquo;s Stockholders</U>. The Approval of a Majority-of-the-Minority of the Company&rsquo;s
Stockholders shall have been obtained.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">6.7   <U>Purchaser
Material Adverse Effect</U>. No Purchaser Material Adverse Effect shall have occurred between the date of this Agreement and the Closing
Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">7.   <U>Termination;
Effect of Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.1   <U>Termination
by Mutual Consent</U>. This Agreement may be terminated at any time prior to the Closing Date, whether before or after the Requisite Stockholder
Approval shall have been obtained, by mutual written consent of Purchaser and the Company (acting upon the recommendation of the Special
Committee).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.2   <U>Termination
by Either Purchaser or the Company</U>. This Agreement may be terminated by either Purchaser or the Company (acting upon the recommendation
of the Special Committee) at any time prior to the Closing Date:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   if
the Second Tranche has not been consummated by January 31, 2024, which may be extended by an additional ninety (90) calendar day-period
by mutual written consent between the Parties (the &ldquo;<U>Outside Date</U>&rdquo;), except that the right to terminate this Agreement
under this <U>Section 7.2(a)</U> shall not be available to any Party whose failure to fulfill any of its obligations has been a principal
cause of, or resulted in, the failure to consummate the Second Tranche by such date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
any Laws effected after the date of this Agreement should prohibit consummation of the Second Tranche;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   if
(i) any Orders issued by a court of competent jurisdiction shall restrain, enjoin or otherwise prohibit consummation of the Second Tranche,
and (ii) such Orders shall have become final and non-appealable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   if
the Requisite Stockholder Approval shall not have been obtained at the Company Stockholders Meeting (or at any adjournment or postponement
thereof) held in accordance with this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(e)   if
the First Tranche Agreement has been terminated in accordance with its terms; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(f)   if
the President of the United States of America shall have made a determination under the DPA to suspend or to block the Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.3   <U>Termination
by Purchaser</U>. This Agreement may be terminated by Purchaser at any time prior to the Closing Date:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   if,
prior to the time the Requisite Stockholder Approval is obtained, the Board (acting upon the recommendation of the Special Committee)
fails to make, withdraws, modifies or amends in any manner adverse to Purchaser, the Board Recommendation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
(i) the Special Committee or the Board (acting upon the recommendation of the Special Committee) approves, endorses or recommends a Superior
Proposal, (ii) a tender offer or exchange offer for any outstanding shares of capital stock of the Company is commenced and the Special
Committee or the Board (acting upon the recommendation of the Special Committee) fails to recommend against acceptance of such tender
offer or exchange offer by its stockholders (for purposes hereof, taking of no position with respect to the acceptance of such tender
offer or exchange offer by its stockholders shall constitute a failure to recommend against acceptance of such tender offer or exchange
offer) within ten (10) Business Days of the commencement of such tender offer or exchange offer, or (iii) the Company (acting upon the
recommendation of the Special Committee), the Special Committee or the Board (acting upon the recommendation of the Special Committee)
publicly announces its intention to do any of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></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; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   if
the Company shall have breached any of its representations, warranties, covenants or agreements contained in this Agreement, which breach
(i) would give rise to the failure of a condition set forth in <U>Section 5.1</U> or <U>Section 5.2</U> and (ii) has not been cured by
the Company within thirty (30) Business Days after the Company&rsquo;s receipt of written notice of such breach from Purchaser; <U>provided</U>,
that Purchaser shall not have a right to terminate this Agreement pursuant to this <U>Section 7.3(c)</U> if Purchaser is then in material
breach of any representation, warranty, agreement or covenant contained in this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(d)   if
the First Tranche Agreement has been terminated in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.4   <U>Termination
by the Company</U>. This Agreement may be terminated by the Company prior to the Closing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   if
the Board shall have authorized the Company to enter into an Alternative Acquisition Agreement in compliance with the terms of this Agreement;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   if
the Special Committee shall determine that Purchaser shall have breached any of its representations, warranties, covenants or agreements
contained in this Agreement, which breach (i) would give rise to the failure of a condition set forth in <U>Section 6.1</U> or <U>Section
6.2</U> and (ii) has not been cured by Purchaser within thirty (30) Business Days after Purchaser&rsquo;s receipt of written notice of
such breach from the Company; <U>provided</U>, that the Company shall not have a right to terminate this Agreement pursuant to this <U>Section
7.4(b)</U> if the Company is then in material breach of any representation, warranty, agreement or covenant contained in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.5   <U>Effect
of Termination</U>. If this Agreement is terminated pursuant to this <U>Article 7</U>, it shall, to the fullest extent permitted by applicable
Laws, become void and of no further force and effect, with no Liability on the part of any Party (or any partner, stockholder, director,
officer, employee, agent or representative of any such Party), except that if such termination results from fraud or the willful failure
of any Party to perform its obligations under this Agreement, then such Party shall be fully liable for any Liabilities incurred or suffered
by the other Parties as a result of such failure or breach. In determining Liabilities recoverable upon termination by a Party for the
other Party&rsquo;s breach, such Liabilities shall not be limited to reimbursement of expenses or out-of-pocket costs and may include
the benefit of the bargain lost by such Party or, in the case of the Company, the holders of Common Stock, which shall be deemed to be
damages payable to such Party. The provisions of this <U>Section 7.5</U>, <U>Section 7.6</U> and <U>Article 8</U> shall survive any termination
of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.6   <U>Fees
and Expenses Following Termination</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   Except
as otherwise expressly provided in this Agreement, all fees, costs and expenses incurred in connection with this Agreement and the Transactions
and the other transactions contemplated by this Agreement shall be borne by the Party incurring such fees, costs and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   The
Company shall pay, or cause to be paid, to Purchaser by wire transfer of immediately available funds an amount equal to Five Million Dollars
($5,000,000) (such amount, the &ldquo;<U>Termination Fee</U>&rdquo;) if this Agreement is validly terminated (i) by either Purchaser or
the Company, pursuant to Section 7.2(a) (<I>Outside Date</I>) or by Purchaser pursuant to <U>Section 7.3(c)</U> (<I>Company Breach</I>);
provided, that (x) prior to such termination, an Alternative Proposal shall have been publicly disclosed and not withdrawn; and (y) within
twelve (12) months following the date of such termination of this Agreement, the Company shall have entered into or consummated or signed
a definitive agreement with respect to any Alternative Proposal, or resolved or agreed to, or otherwise authorized or permitted any of
its Representatives to do so, then the Company shall pay to Purchaser (by wire transfer of immediately available funds), immediately prior
to and as a condition to consummating such transaction, the Termination Fee (it being understood for all purposes of this <U>Section 7.6(b)</U>,
all references in the definition of Alternative Proposal to 10% shall be deemed to be references to &ldquo;50%&rdquo; instead), , (ii)
by Purchaser, pursuant to <U>Section 7.3(a)</U> (<I>Adverse Board Recommendation</I>), or <U>Section 7.3(b)</U> (<I>Recommendation of
Superior Proposal</I>), in which case payment of the Termination Fee shall be made within two (2) Business Days of such termination, and
(iii) by the Company, pursuant to <U>Section 7.4(a)</U> (<I>Alternative Acquisition Agreement</I>), in which case payment of the Termination
Fee shall be made concurrently with such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(c)   The
Parties acknowledge that (i) the agreements contained in this <U>Section 7.6</U> are an integral part of the Transactions and the other
transactions contemplated by this Agreement and (ii) without these agreements, Purchaser, on one hand, and the Company, on the other hand,
would not have entered into this Agreement. Accordingly, if either Party fails to pay when due any amounts required to be paid by it pursuant
to this <U>Section 7.6</U> and, in order to obtain such payment, the other Party commences an Action which results in a judgment against
Purchaser or the Company, as the case may be, for such amounts, then, in addition to the amount of such judgment, the applicable Party
shall pay to the other Party an amount equal to the fees, costs and expenses (including reasonable attorneys&rsquo; fees, costs and expenses)
incurred by such Party in connection with such Action, together with interest from the date of termination of this Agreement on all amounts
so owed at the prime rate as published in the Wall Street Journal in effect on the date such payment was required to be made plus three
percent (3%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">7.7   <U>Extension;
Waiver</U>. At any time prior to the Closing, each of Purchaser and the Company (acting on the recommendation of the Special Committee)
may (a) extend the time for the performance of any of the obligations of any other Party, (b) waive any inaccuracies in the representations
and warranties of any other Party contained in this Agreement or in any document delivered under this Agreement or (c) subject to applicable
Laws, waive compliance with any of the covenants or conditions contained in this Agreement. Any agreement on the part of any Party to
any extension or waiver shall be valid only if set forth in an instrument in writing signed by such Party. The failure of any Party to
assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">8.
<U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.1
<U>Defined Terms Used in this Agreement</U>. In addition to the terms defined elsewhere in this Agreement, the following terms used in
this Agreement shall be construed to have the meanings set forth or referenced below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Action</B>&rdquo;
has the meaning set forth in <U>Section 2.14</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Advisory
Client</B>&rdquo; means any Person to which Company Financial Advisor provides Investment Advisory Services (or sub-advisory services)
pursuant to an Advisory Contract.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Advisory
Contract</B>&rdquo; means an investment advisory agreement entered into by a Company Financial Advisor or any of its Company Subsidiaries
with a Client for the purpose of providing Investment Advisory Services to such Client.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Affiliate</B>&rdquo;
means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common
control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person,
or any venture capital fund or registered investment company now or hereafter existing that is controlled by one or more general partners,
managing members or investment advisers of, or shares the same management company or investment adviser with, such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Agreement</B>&rdquo;
has the meaning set forth in the preamble.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Alternative
Acquisition Agreement</B>&rdquo; has the meaning set forth in <U>Section 4.2(d)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Alternative
Proposal</B>&rdquo; means any proposal or offer relating to (i) a merger, consolidation, share exchange or business combination involving
the Company or any of its Subsidiaries, (ii) a sale, lease, exchange, mortgage, transfer or other disposition, in a single transaction
or series of related transactions, of ten percent (10%) or more of the assets of the Company and its Subsidiaries, taken as a whole, (iii)
a purchase or sale of shares of capital stock or other securities, in a single transaction or a series of related transactions, representing
ten percent (10%) or more of the voting power of the capital stock of Company or any of its Subsidiaries, including by way of a tender
offer or exchange offer, (iv) a reorganization, recapitalization, liquidation or dissolution of the Company or any of its Subsidiaries
or (v) any other transaction having a similar effect to those described in clauses (i) - (iv) or that would prevent or materially impede
or delay the consummation of the Closing, in each case, other than the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Anti-Corruption
Laws</B>&rdquo; has the meaning set forth in <U>Section 2.12(c)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Approval
of a Majority-of-the-Minority of the Company&rsquo;s Stockholders</B>&rdquo; means the approval of the issuance and sale of the Second
Tranche Shares by the affirmative vote of the holders of a majority of the outstanding shares of Common Stock not beneficially owned,
directly or indirectly, by the Gebbias, Purchaser or any Affiliate of Purchaser or of any of the Gebbias.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Board</B>&rdquo;
has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Board
Recommendation</B>&rdquo; has the meaning set forth in <U>Section 4.2(e).</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Data</B>&rdquo; means all business information and data, including Personal Information (whether of employees, contractors, consultants,
customers, consumers, or other persons and whether in electronic or any other form or medium) that is accessed, collected, used, processed,
stored, shared, distributed, transferred, disclosed, destroyed, or disposed of by any of the Business Systems, Products or otherwise in
the course of the conduct of the business of the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Day</B>&rdquo; means any day that is not a Saturday, Sunday or other day on which banks are required or authorized to be closed in New
York City, New York and Seoul, Republic of Korea.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Business
Systems</B>&rdquo; mean all software, computer hardware (whether general or special purpose), electronic data processing, information,
record keeping, communications, telecommunications, networks, interfaces, platforms, servers, peripherals, and computer systems, including
any outsourced systems and processes, that are owned by, or used in the conduct of the business of the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>CFIUS</B>&rdquo;
means the Committee on Foreign Investment in the United States, and each member agency thereof acting on its behalf.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>CFIUS
Approval</B>&rdquo; means (a) a written notice from CFIUS received by Purchaser and the Company that (1) the Second Tranche is not subject
to the DPA; or (2) CFIUS has determined that there are no unresolved national security concerns with respect to the Second Tranche and
has concluded all action under the DPA; or (b) if CFIUS has sent a report to the President of the United States of America requesting
the President&rsquo;s decision with respect to the Second Tranche, the President of the United States of America has announced a decision
not to suspend or prohibit the Second Tranche pursuant to his authorities under the DPA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>CFIUS
Filing</B>&rdquo; has the meaning set forth in <U>Section 4.5(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Clearance
Date</B>&rdquo; has the meaning set forth in <U>Section 4.3(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Client</B>&rdquo;
means any client or customer of a Company Financial Advisor or any of its Company Subsidiaries, including for the Investment Advisory
Services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Closing</B>&rdquo;
has the meaning set forth in <U>Section 1.1(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Closing
Date</B>&rdquo; means the date on which the Closing occurs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>CMA
Application</B>&rdquo; has the meaning set forth in <U>Section 4.12(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Code</B>&rdquo;
means the Internal Revenue Code of 1986, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Commerce</B>&rdquo;
has the meaning set forth in <U>Section 2.12(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Common
Stock</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Acquisition Agreement</B>&rdquo; has the meaning set forth in <U>Section 4.2(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Broker Dealers</B>&rdquo; means Muriel Siebert &amp; Co., Inc., a Delaware corporation, and RISE Financial Services, LLC, a Delaware limited
liability company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Disclosure Schedule</B>&rdquo; has the meaning set forth in <U>Article 2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Financial Advisor</B>&rdquo; means Siebert AdvisorNXT, Inc., a New York corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Group</B>&rdquo; means the Company and each of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
IP</B>&rdquo; has the meaning set forth in <U>Section 4.07(b)(xiv)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Licensed IP</B>&rdquo; means all Intellectual Property Rights owned or purported to be owned by a third-party and licensed to which the
Company or any of its Subsidiaries otherwise has a right to use.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Notice Period</B>&rdquo; has the meaning set forth in <U>Section 4.2(d)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Organizational Documents</B>&rdquo; has the meaning set forth in <U>Section 2.3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Owned IP</B>&rdquo; means any and all Intellectual Property Rights that are owned or purported to be owned by the Company or any of its
Subsidiaries (including any and all Company Registered IP).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Permits</B>&rdquo; has the meaning set forth in <U>Section 2.16</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Proxy Materials</B>&rdquo; has the meaning set forth in <U>Section 4.3(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Registered IP</B>&rdquo; means all U.S. and foreign: (i) Patents; (ii) registrations and applications for Trademarks; (iii) copyrights
registrations and applications therefor; (iv) registered mask works and applications to register mask works; and (v) Domain Name registrations;
in each of the foregoing (i) - (v) owned, filed in the name of, or applied for by the Company or any of its Subsidiaries with a Governmental
Authority or domain name registrar, whether alone or jointly with others, but in all cases, excluding any items that are abandoned, expired,
cancelled, withdrawn, or refused.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
SEC Reports</B>&rdquo; has the meaning set forth in <U>Section 2.6(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Stockholder Meeting</B>&rdquo; has the meaning set forth in <U>Section 2.5</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Waiving Parties</B>&rdquo; has the meaning set forth in <U>Section 8.13(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Company
Website</B>&rdquo; means all websites owned, operated or hosted by or on behalf of the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Confidentiality
Agreement</B>&rdquo; has the meaning set forth in <U>Section 4.8(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Consulting
Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Contract</B>&rdquo;
means, with respect to any Person, any contract, lease, license, indenture, note, agreement or other legally binding instrument to which
such Person or its Subsidiaries is a party or by which any of their respective properties, rights or assets is bound.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>COVID-19</B>&rdquo;
means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>COVID-19
Measures</B>&rdquo; means any quarantine, &ldquo;shelter in place,&rdquo; &ldquo;stay at home,&rdquo; workforce reduction, face covering,
personal protective equipment, social distancing, delay, shut down (including, the shutdown of air cargo routes, shut down of foodservice
or certain business activities), closure, sequester, safety or similar Law, directive, guidelines or recommendations promulgated by any
health organization or Governmental Authority, including with respect to the United States, the Centers for Disease Control and Prevention
and the World Health Organization, in each case, in connection with or in response to COVID-19, including the CARES Act and Families First
Act, and any future Law, directive, guidelines or recommendations promulgated by any Governmental Authority in connection with or in response
to COVID-19.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Customs
&amp; International Trade Laws</B>&rdquo; has the meaning set forth in <U>Section 2.12(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Disqualification
Event</B>&rdquo; has the meaning set forth in <U>Section 3.10</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Dollars</B>&rdquo;
or &ldquo;<B>$</B>&rdquo; means dollars of the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in; background-color: white">&ldquo;<B>DPA</B>&rdquo;
means Section 721 of the Defense Production Act of 1950, as amended (50 U.S.C. &sect; 4565), and all interim or final rules and regulations
issued and effective thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Draft
CFIUS Notice</B>&rdquo; has the meaning set forth in Section 4.5(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Effect</B>&rdquo;
means any event, occurrence, fact, condition, change, development, circumstance or effect or cause thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Effective
Date</B>&rdquo; has the meaning set forth in the preamble.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Employee
Plan</B>&rdquo; means each &ldquo;employee benefit plan,&rdquo; as defined in Section 3(3) of ERISA (whether or not subject to ERISA)
and each other written or unwritten plan, agreement, policy or other arrangement involving compensation (other than workers&rsquo; compensation,
unemployment compensation and other government programs), employment, severance, consulting, disability benefits, supplemental unemployment
benefits, vacation benefits, retirement benefits, deferred compensation, profit-sharing, bonuses, equity-based awards, other forms of
incentive compensation, post-retirement insurance benefits, employee loans, or other material benefits, entered into, maintained or contributed
to by the Company or any of its Subsidiaries or with respect to which the Company or any of its Subsidiaries has or is reasonably expected
to have any Liability, including due to an ERISA Affiliate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Employment
Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Employment
Matters</B>&rdquo; has the meaning set forth in <U>Section 2.9(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Environmental
Laws</B>&rdquo; means any United States federal, state or local or non-United States Laws relating to: (a) releases or threatened releases
of Hazardous Substances or materials containing Hazardous Substances; (b) the manufacture, handling, presence in the fabric of any building,
transport, use, treatment, storage or disposal of Hazardous Substances or materials containing Hazardous Substances; or (c) pollution,
contamination or protection of the environment or natural resources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Environmental
Permits</B>&rdquo; has the meaning set forth in <U>Section 2.25</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>ERISA</B>&rdquo;
means the Employee Retirement Income Security Act of 1974, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>ERISA
Affiliate</B>&rdquo; means any Person that, together with the Company or any of its Subsidiaries, would be deemed a &ldquo;single employer&rdquo;
within the meaning of Section 414(b), (c), (m) or (o) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Exchange
Act</B>&rdquo; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>FINRA</B>&rdquo;
means the Financial Industry Regulatory Authority and any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>FINRA
Approval</B>&rdquo; means the approval of FINRA of the change in ownership and control of the Company and the acquisition of the Second
Tranche Shares by Purchaser, contemplated by this Agreement pursuant to FINRA Rule 1017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>First
Tranche</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>First
Tranche Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>First
Tranche Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Form
BD Amendment</B>&rdquo; has the meaning set forth in <U>Section 3.2</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Fully-Diluted
Basis</B>&rdquo; means, with respect to the calculation of the number of outstanding equity securities of the Company, the sum of (a)
the aggregate number of shares of Common Stock issued and outstanding immediately prior to the Closing Date, (b) the aggregate number
of shares of Common Stock issuable upon exercise or conversion of any outstanding securities of the Company that are exercisable for
or convertible into Common Stock, including any options, warrants, convertible notes or other convertible instruments of the Company,
(c) the aggregate number of shares of Common Stock issuable upon vesting and settlement of any Company&rsquo;s restricted stock units
and (d) the aggregate number of shares of Common Stock issuable upon exercise of any other Company&rsquo;s convertible instruments issued,
issuable or reserved for issuance under the Employee Plan or any other similar plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Fund</B>&rdquo;
means any Public Fund, Private Fund or Non-U.S. Retail Fund.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>GAAP</B>&rdquo;
means United States generally accepted accounting principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Gebbias</B>&rdquo;
means, collectively, John Gebbia, Gloria Gebbia, Richard Gebbia, John M. Gebbia, David Gebbia<B><I>,</I></B> Kimberly Gebbia and John
&amp; Gloria Gebbia Living Trust, and any additional members of the Gebbia family who enters into, becomes a party to, or otherwise becomes
bound by the terms of, the Support and Restrictive Covenant Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Governmental
Authority</B>&rdquo; means any federal, state, local or non-U.S. governmental or regulatory authority, agency, department, commission
or administration or any court, tribunal or judicial or arbitral body or department in any jurisdiction or a legal entity that is owned
or controlled by a Governmental Authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Hazardous
Substance(s)</B>&rdquo; means those polluting or contaminating substances defined in or regulated under the following United States federal
statutes and their state counterparts, as each may be amended from time to time, and all regulations thereunder: the Hazardous Materials
Transportation Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act,
the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal Insecticide, Fungicide, and Rodenticide Act and the
Clean Air Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>IMA
Consents</B>&rdquo; means the written consents for assignment of the Company Financial Advisor&rsquo;s investment management agreements
as required under the Company Financial Advisor&rsquo;s investment management agreements and the Investment Advisers Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Indebtedness</B>&rdquo;
means for any person and its Subsidiaries, on a consolidated basis, an amount equal to, without duplication, (i) indebtedness for borrowed
money of such person and its Subsidiaries, including indebtedness evidenced by any note, bond, debenture, mortgage, letter of credit,
performance bond or other debt instrument or debt security, (ii) net obligations of such person and its Subsidiaries in respect of interest
rate swaps, hedges or similar arrangements, including any swaps, hedges or similar arrangements related to foreign exchange (other than
any such amounts that are accounted for (in accordance with applicable accounting standards) as working capital current liabilities),
(iii) obligations of such person and its Subsidiaries under capitalized leases, (iv) any deferred purchase price liabilities such person
and its Subsidiaries related to past acquisitions, whether or not represented by a note, earn-out or contingent purchase payment or otherwise
(other than any such amounts that are accounted for (in accordance with applicable accounting standards) as working capital current liabilities),
(v) obligations of such person and its Subsidiaries under or in connection with off balance sheet financing arrangements, and (vi) all
amounts (including for the avoidance of doubt, the principal amounts, plus any related accrued and unpaid interest, fees and prepayment
premiums or penalties) and obligations of the type referred to in the foregoing clauses of this definition of other persons for the payment
of which such person is responsible or liable, as obligor, guarantor, surety or otherwise, including any guarantee of such obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Insurance
Contracts</B>&rdquo; has the meaning set forth in <U>Section 2.24(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Insurance
License</B>&rdquo; has the meaning set forth in <U>Section 2.24(c)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B>&ldquo;Insurance
Regulator&rdquo; </B>means the Governmental Authority charged with supervision of insurance and reinsurance companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Intellectual
Property Rights</B>&rdquo; means all common law and statutory rights in any jurisdiction throughout the world in, arising out of, or associated
with: (i) patents and utility models and applications therefor and all reissues, divisions, re-examinations, renewals, extensions, provisionals,
continuations and continuations-in-part thereof (&ldquo;<U>Patents</U>&rdquo;); (ii) trade secrets, confidential information, or proprietary
information; (iii) copyrights, copyrights registrations, mask works, and applications therefor, and all other rights corresponding thereto
throughout the world; (iv) domain names and uniform resource locators (&ldquo;<U>Domain Names</U>&rdquo;); (v) industrial designs; (vi)
trade names, logos, common law trademarks and service marks, any registrations or applications therefor, and related goodwill (&ldquo;<U>Trademarks</U>&rdquo;);
(vii) all rights in databases and data collections; (viii) all moral and economic rights of authors and inventors, however denominated;
(ix) any similar or equivalent rights to any of the foregoing (as applicable); (x) copies and tangible embodiments of any of the foregoing,
in whatever form or medium, including Software and Technology; and (xi) all legal rights arising from items (i) through (x), including
the right to prosecute and perfect such interests and rights to sue, oppose, cancel, interfere and enjoin based upon such interests, including
such rights based on past infringement, if any, in connection with any of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>International
Employee Plan</B>&rdquo; means any Employee Plan that is maintained in a jurisdiction outside of the United States for the benefit of
employees, independent contractors, consultants and/or directors located in such jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Advisers Act</B>&rdquo; means the Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Advisory Services</B>&rdquo; means investment management or investment advisory services, including any subadvisory services, that involve
acting as an &ldquo;investment adviser&rdquo; within the meaning of the Investment Advisers Act or other applicable Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Investment
Company Act</B>&rdquo; means the Investment Company Act of 1940, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>IRS</B>&rdquo;
means the United States Internal Revenue Service, or any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Key
Consulting Personnel</B>&rdquo; means <FONT STYLE="font-family: Times New Roman, Times, Serif">Matthew Shatz and Ralph Daiuto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Key
Personnel</B>&rdquo; means <FONT STYLE="font-family: Times New Roman, Times, Serif">Michael Colombino, Anthony Palmeri, Anthony Gulemmo,
Eric Tassell, John M. Gebbia, Richard Gebbia, David Gebbia, John Gebbia, Andrew Reich, John T Gebbia and Gloria Gebbia</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Knowledge
of the Company</B>&rdquo; (or any formulation herein expressly referencing &ldquo;knowledge&rdquo; of the Company) means the actual and
constructive knowledge of the Company&rsquo;s Chief Executive Officer, the Company&rsquo;s Chief Operating Officer, Chief Financial Officer,
and John M. Gebbia, after reasonable due inquiry.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>KSC</B>&rdquo;
means Kakaopay Securities Corp., a Korean corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Law</B>&rdquo;
means any law (including common law), ordinance, writ, statute, treaty, rule, code, regulation or directive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Leased
Real Property</B>&rdquo; has the meaning set forth in <U>Section 2.25(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Liability</B>&rdquo;
means any obligation or liability (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued
or unaccrued, whether liquidated or unliquidated, whether determined, determinable or otherwise and whether due or to become due).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Lien</B>&rdquo;
means, with respect to any asset, any mortgage, lien, pledge, charge, hypothecation, claim, encroachment, easement, real property title
defect, adverse claim, option, security interest or encumbrance of any kind with respect to such asset. For the avoidance of doubt, the
license or other grant of rights with respect to Intellectual Property Rights, in and of itself, shall not be deemed to be a Lien.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Material
Adverse Effect</B>&rdquo; means an Effect that, individually or in the aggregate, with all other Effects, has had or would reasonably
be expected to have a material adverse effect on (a) the business, condition (financial or otherwise), assets, Liabilities or results
of operation of the Company and its Subsidiaries, taken as a whole, or (b) the ability of the Company to perform its obligations under
this Agreement and to consummate the Transactions; <U>provided</U>, <U>however</U>, that, for the purposes of the foregoing clause (a),
in no event will any of the following be deemed, either alone or in combination, to constitute, or be taken into account in determining
whether there has been or will be, a Material Adverse Effect: any adverse Effect attributable to: (i) operating, business, regulatory
or other conditions (financial or otherwise) generally effecting the industries in which the Company or its Subsidiaries operate; (ii)
general economic conditions, including changes in the credit, securities, currency, banking, exchange, debt, financial or capital markets
(including changes in interest or exchange rates), in each case, in the United States, including any suspension of trading in securities
(whether equity, debt, derivative or hybrid securities) generally on any securities exchange or over-the-counter market operating in the
United States; (iii) any stoppage or shutdown of any Governmental Authority (including any default by a Governmental Authority or delays
in payments or delays or failures to act by any Governmental Authority), or any continuation of any such stoppage or shutdown; (iv) the
announcement or negotiation or pendency or consummation of the Transactions (including the identity of Purchaser or any communication
by Purchaser or any of its Affiliates regarding its plans or intentions with respect to the business of the Company or any of its Subsidiaries)
or the taking of any action required by this Agreement and the other agreements contemplated hereby, including the completion of the Transactions;
(v) any actions taken, or failures to take action, or such other changes or events, in each case, which Purchaser has requested in writing
or to which it has consented in writing, in each case, after the date of this Agreement; (vi) changes in GAAP or other accounting requirements
or principles or any changes in applicable Laws or the interpretation thereof or other legal or regulatory conditions; (vii) the failure
of the Company or its Subsidiaries to meet or achieve the results set forth in any internal or budget, plan, projection, prediction or
forecast (although the underlying facts and circumstances resulting in such failure shall be taken into account unless otherwise excluded
under <U>clauses (i)</U> through <U>(vi)</U> or <U>(viii)</U> through <U>(x)</U> of this definition); (viii) global, national or regional
political, financial, economic or business conditions, including hostilities, acts of war, sabotage or terrorism or military actions or
any escalation, worsening or diminution of any such hostilities, acts of war, sabotage or terrorism or military actions existing or underway;
(ix) effects arising from or relating to epidemics, pandemics, or disease outbreaks, including COVID-19 or any COVID-19 Measures; or (x)
hurricanes, earthquakes, floods, tsunamis, tornadoes, mudslides, wild fires, or other natural disasters and other force majeure events
in the United States or any other country or region in the world or (xi), in each case with respect to any of the foregoing clauses (i),
(ii), (iii), (vi), (viii), (ix) or (x), to the extent such change does not disproportionately affect the Company and its Subsidiaries,
taken as a whole, relative to other similarly situated companies in the industries in which the Company and its Subsidiaries operate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Material
Contract</B>&rdquo; has the meaning set forth in <U>Section 2.7(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Nasdaq</B>&rdquo;
has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Non-U.S.
Retail Fund</B>&rdquo; means each vehicle for collective investment in whatever form of organization, including the form of a corporation,
company, limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series of
any of the foregoing (a) that is registered or authorized by a non-U.S. Governmental Authority in the jurisdiction in which it is established,
and (b) for which the Company or any of its Subsidiaries acts as the sponsor, general partner, managing member, trustee, investment manager,
investment adviser, sub-adviser or in a similar capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>OFAC</B>&rdquo;
has the meaning set forth in <U>Section 2.12(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Open
Source Software</B>&rdquo; means any software that is licensed pursuant to: (a) any license that is a license now or in the future approved
by the Open Source Initiative and listed at http://www.opensource.org/licenses, which licenses include all versions of the GNU General
Public License (GPL), the GNU Lesser General Public License (LGPL), the GNU Affero GPL, the MIT license, the Eclipse Public License, the
Common Public License, the CDDL, the Mozilla Public License (MPL), the Artistic License, the Netscape Public License, the Sun Community
Source License (SCSL), and the Sun Industry Standards License (SISL); or (b) any license to software that is considered &ldquo;free&rdquo;
or &ldquo;open source software&rdquo; by the Free Software Foundation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Order</B>&rdquo;
has the meaning set forth in <U>Section 2.14</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Outside
Date</B>&rdquo; has the meaning set forth in <U>Section 7.2(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Owned
Real Property</B>&rdquo; has the meaning set forth in <U>Section 2.25(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B>&ldquo;Park
Wilshire&rdquo; </B>means Park Wilshire Companies, Inc., a Texas corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Permitted
Lien</B>&rdquo; means all: (i) Liens for Taxes or other governmental charges not yet due or payable or for which adequate reserves in
accordance with GAAP are reflected on the financial statements of the Company included in the Company SEC Reports; (ii) mechanics&rsquo;,
carriers&rsquo;, workers&rsquo;, repairers&rsquo;, landlords&rsquo; and similar statutory Liens arising or incurred in the ordinary course
of business; (iii) covenants, conditions, restrictions, easements, rights of way, defects, imperfections, irregularities of title or other,
similar encumbrances, including those identified on title policies or preliminary title reports, affecting Owned Real Property or Leased
Real Property, that (i) do not constitute a Lien securing the payment of a sum of money, (ii) are not violated, and (iii) do not and would
not reasonably be expected to, individually or in the aggregate, materially impair the value, use or occupancy of any such property, or
otherwise materially impair the business operations (as currently conducted and consistent with past practice) at such property; (iv)
Liens that shall be released prior to or as of the Closing; (v) Liens created by or through Purchaser or any of its Affiliates; (vi) rights,
interests, Liens or titles of, or through, a licensor, sublicensor, licensee, sublicensee, lessor or sublessor under any license, lease
or other similar agreement granted by the Company and disclosed to Purchaser, or in the property being leased or licensed thereby; (vii)
zoning, building, entitlement and other land use and environmental regulations promulgated by any Governmental Authority that are not
violated by the current use (consistent with past practice) of any real property of the Company or any of its Subsidiaries and which do
not materially detract from the value of such real property; and (viii) statutory or contractual Liens of lessors or Liens on the lessor&rsquo;s
or prior lessor&rsquo;s interests related to any lease of the Company or any of its Subsidiaries relating to any real property that do
not materially interfere with the present uses (consistent with past practice) of such real property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Person</B>&rdquo;
means any individual, corporation, partnership, trust, limited liability company, association or other entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Personal
Information</B>&rdquo; means (i) information related to an identified or identifiable individual (<I>e.g.</I>, name, address telephone
number, email address, financial account number, government-issued identifier), (ii) any other data used or intended to be used or which
allows one to identify, contact, or precisely locate an individual, including any internet protocol address or other persistent identifier,
and (iii) any other, similar information or data, each to the extent defined as &ldquo;personal data,&rdquo; &ldquo;personal information,&rdquo;
&ldquo;personally identifiable information&rdquo; or similar terms by applicable Privacy/Data Security Laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Privacy/Data
Security Laws</B>&rdquo; means all applicable Laws governing the receipt, collection, use, storage, processing, sharing, security, disclosure,
or transfer of Personal Information or the security of Personal Information or Business Data.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"><B>&ldquo;Privacy
and Data Security Requirements</B>&rdquo; means all (i) Privacy/Data Security Laws; (ii) rules or other requirements of industry self-regulatory
programs or standards including the Payment Card Industry Data Security Standard (PCI DSS), and industry requirements; (iii) provisions
of any Contracts to which any the Company or any of its Subsidiaries is bound imposing obligations with respect to the collection, use,
security, or transfer of Personal Information or Business Data held or processed by or on behalf of the Company or any of its Subsidiaries;
or (iv) privacy or data security policies (including statements on Company Websites) with which the Company or any of its Subsidiaries
has been or is contractually obligated to comply, whether policies of Company, any of its Subsidiaries or any other Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Private
Fund</B>&rdquo; means each vehicle for collective investment (in whatever form of organization, including the form of a corporation, company,
limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series of any of
the foregoing) (i) that is not registered with the SEC as an investment company under the Investment Company Act, and (ii) for which the
Company or one or more of its Subsidiaries, acts as the sponsor, general partner, managing member, trustee, investment manager, investment
adviser, sub-adviser, or in a similar capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Products&rdquo;</B>
mean any products (including software programs, mobile and web applications) or services (including interactive or hosted services) licensed,
sold, distributed other otherwise made available by or on behalf of the Company or any of its Subsidiaries, including Siebert AdvisorNXT,
Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Proxy
Statement</B>&rdquo; has the meaning set forth in <U>Section 2.5</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Public
Fund</B>&rdquo; means each vehicle for collective investment (in whatever form of organization, including the form of a corporation, company,
limited liability company, partnership, association, trust or other entity, and including each separate portfolio or series of any of
the foregoing) (i) that is registered with the SEC as an investment company under the Investment Company Act (including any business development
company regulated as such under the Investment Company Act), and (ii) for which the Company or one or more of its Subsidiaries acts as
the sponsor, general partner, managing member, trustee, investment manager, investment adviser, sub-adviser, or in a similar capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Disclosure Schedule</B>&rdquo; has the meaning set forth in <U>Article 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Material Adverse Effect</B>&rdquo; means an Effect that, individually or in the aggregate, with all other Effects, has had or would reasonably
be expected to have a material adverse effect on (a) the business, condition (financial or otherwise), assets, Liabilities or results
of operation of Purchaser, or (b) the ability of Purchaser to perform its obligations under this Agreement and to consummate the Transactions;
<U>provided</U>, <U>however</U>, that, for the purposes of the foregoing clause (a), in no event will any of the following be deemed,
either alone or in combination, to constitute, or be taken into account in determining whether there has been or will be, a Purchaser
Material Adverse Effect: any adverse Effect attributable to: (i) operating, business, regulatory or other conditions (financial or otherwise)
generally effecting the industries in which Purchaser operates; (ii) general economic conditions, including changes in the credit, securities,
currency, banking, exchange, debt, financial or capital markets (including changes in interest or exchange rates), in each case, in the
United States or the Republic of Korea, including any suspension of trading in securities (whether equity, debt, derivative or hybrid
securities) generally on any securities exchange or over-the-counter market operating in the United States or the Republic of Korea; (iii)
any stoppage or shutdown of any Governmental Authority (including any default by a Governmental Authority or delays in payments or delays
or failures to act by any Governmental Authority), or any continuation of any such stoppage or shutdown; (iv) the announcement or negotiation
or pendency or consummation of the Transactions or the taking of any action required by this Agreement and the other agreements contemplated
hereby, including the completion of the Transactions; (v) any actions taken or not taken by Purchaser as required by this Agreement; (vi)
any actions taken, or failures to take action, or such other changes or events, in each case, which the Company has requested in writing
or to which it has consented in writing, in each case, after the date of this Agreement; (vii) changes in GAAP or other accounting requirements
or principles or any changes in applicable Laws or the interpretation thereof or other legal or regulatory conditions; (viii) global,
national or regional political, financial, economic or business conditions, including hostilities, acts of war, sabotage or terrorism
or military actions or any escalation, worsening or diminution of any such hostilities, acts of war, sabotage or terrorism or military
actions existing or underway; (ix) effects arising from or relating to epidemics, pandemics, or disease outbreaks, including COVID-19
or any COVID-19 Measures; or (x) hurricanes, earthquakes, floods, tsunamis, tornadoes, mudslides, wild fires, or other natural disasters
and other force majeure events in the United States or any other country or region in the world or (x), in each case with respect to any
of the foregoing clauses (i), (ii), (iii), (vii), (viii), (ix) or (x), to the extent such change does not disproportionately affect Purchaser,
relative to other similarly situated participants in the industries in which Purchaser operates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Required Approvals</B>&rdquo; means (a) the filing of the overseas direct investment report as required under the Foreign Exchange Transactions
Act of the Republic of Korea, and (b) if applicable in accordance with applicable Law, any antitrust report or filing to be made with
the Korea Fair Trade Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Purchaser
Waiving Parties</B>&rdquo; has the meaning set forth in <U>Section 8.13(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Real
Property Lease</B>&rdquo; has the meaning set forth in <U>Section 2.25(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Registration
Rights Agreement</B>&rdquo; means the registration rights and lock-up agreement by and among the Company, Purchaser and certain other
Persons parties thereto, to be executed prior to or concurrently with the consummation of the First Tranche.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Requisite
Stockholder Approval</B>&rdquo; means, collectively, the affirmative vote of a majority of the outstanding shares of Common Stock and
the Approval of the Majority of the Minority of the Company Stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Representative</B>&rdquo;
means, with respect to any Person, such Person&rsquo;s directors, managers, officers, employees, investment bankers, attorneys, accountants
and other advisors or representatives.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Sanctions</B>&rdquo;
has the meaning set forth in <U>Section 3.12</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Sarbanes-Oxley
Act</B>&rdquo; has the meaning set forth in <U>Section 2.6(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>SEC</B>&rdquo;
means the United States Securities and Exchange Commission and any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche Shares</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Securities
Act</B>&rdquo; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Service
Agreement</B>&rdquo; means all non-standard employment and consulting contracts or agreements to which the Company is a party, with respect
to which the Company has any severance obligation (and, for the avoidance of doubt, excluding standard form agreements for employees outside
of the United States and contracts or agreements that can be terminated at any time without severance or termination pay and upon notice
of not more than sixty (60) days).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Second
Tranche Purchase Price</B>&rdquo; has the meaning set forth in <U>Section 1.1(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Special
Committee</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Subsidiary</B>&rdquo;
means, with respect to any specified Person, any: (i) corporation, fifty percent (50%) or more of the voting or capital stock of which
is, as of the time in question, directly or indirectly owned by such Person; and (ii) partnership, joint venture, association, or other
entity in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity economic interest thereof or has the
power to elect or direct the election of more than fifty percent (50%) of the members of the governing body of such partnership, joint
venture, association or other entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Superior
Proposal</B>&rdquo; means a bona fide, written and unsolicited Alternative Proposal that did not result from a material breach of <U>Section
4.2</U> involving (i) assets that generate more than fifty percent (50%) of the consolidated total revenues of the Company and the Company
Subsidiaries, taken as a whole, (ii) assets that constitute more than fifty percent (50%) of the consolidated total assets of the Company
and the Company Subsidiaries, taken as a whole, or (iii) more than fifty percent (50%) of the total voting power of the equity securities
of the Company, in each case, that the Board (after consultation with outside legal counsel and an independent financial advisor) reasonably
determines, in good faith, would, if consummated, result in a transaction that is more favorable to the stockholders of the Company than
the Transactions after taking into account all such factors and matters deemed relevant in good faith by the Board, including legal, financial
(including the financing terms of any such proposal), regulatory, timing or other aspects of such proposal and the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Support
and Restrictive Covenant Agreement</B>&rdquo; has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Taxes</B>&rdquo;
means all federal, state, local, non-U.S. or other taxes of any kind (together with all interest, penalties, additions to tax and additional
amounts imposed with respect thereto) imposed by any Taxing Authority, including taxes, fees or assessments with respect to income, franchises,
premiums or other profits, gross receipts, property, sales, use, capital stock, payroll, employment, social security, workers&rsquo; compensation
or unemployment compensation, and taxes or other similar charges of any kind in the nature of excise, withholding, ad valorem or value
added.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Taxing
Authority</B>&rdquo; means the IRS and any other U.S. or non-U.S. Governmental Authority responsible for the collection of any Taxes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Tax
Period</B>&rdquo; means, with respect to any Tax, the year, or shorter period, if applicable, for which the Tax is reported as provided
under applicable Tax law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Tax
Return</B>&rdquo; means any return, declaration, report, claim for refund or information return, certificate, bill, statement or other
written information required to be filed with any Taxing Authority relating to Taxes, including any supplement, schedule or attachment
thereto, and including any amendment thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>TDI</B>&rdquo;
means the Texas Department of Insurance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>TDI
Approval</B>&rdquo; means the approval of TDI of the change in ownership and control of Park Wilshire contemplated by this Agreement pursuant
to applicable Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Termination
Fee</B>&rdquo; has the meaning set forth in <U>Section 7.6(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Top
Customers</B>&rdquo; mean the top ten (10) customers of the Company by dollar volume of sales to such customers (in aggregate with their
respective Affiliates) for the fiscal year ended December 31, 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Transactions</B>&rdquo;
has the meaning set forth in the Recitals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>Treasury
Regulations</B>&rdquo; means the regulations promulgated under the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">&ldquo;<B>WARN
Act</B>&rdquo; means the federal Worker Adjustment and Retraining Notification Act of 1988, and similar state, local and foreign Laws
related to plant closings, relocations, mass layoffs and employment losses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.2   <U>Non-Survival
of Representations and Warranties</U>. Except in the case of claims against a Party in respect of such Party&rsquo;s fraud, none of the
representations, warranties, covenants, obligations or other agreements in this Agreement or in any certificate, statement or instrument
delivered pursuant to this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations,
agreements and other provisions, shall survive the Closing and all such representations, warranties, covenants, obligations or other agreements
shall terminate and expire upon the occurrence of the Closing (and there shall be no Liability after the Closing in respect thereof),
except for (a)&nbsp;those covenants and agreements contained herein that by their terms expressly apply in whole or in part after the
Closing and then only with respect to any breaches occurring after the Closing and (b)&nbsp;this <U>Article 8</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.3
<FONT STYLE="background-color: white"><U>Parties in Interest; Successors and Assigns</U></FONT>. The terms and conditions of this Agreement
shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the Parties or their respective successors and assigns any rights, remedies,
obligations or&nbsp;Liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.4
<FONT STYLE="background-color: white"><U>Governing Law</U></FONT>. This Agreement shall be governed by the internal law of the State
of New York, without regard to conflict of law principles that would result in the application of any law other than the law of the State
of New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.5
<U>CONSENT TO JURISDICTION</U>. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO
THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH PARTY HEREBY CONSENTS AND SUBMITS TO
THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS UPON SUCH PARTY, AND AGREES THAT
ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED HEREIN OR SUCH OTHER ADDRESS
FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO SECTION 8.9 AND SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.6
<U>WAIVER OF JURY TRIAL</U>. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THESE TRANSACTIONS, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.7
<U>Counterparts</U>. This Agreement may be executed in two (2) counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or
any electronic signature complying with the U.S. federal ESIGN Act of 2000, <I>e.g.</I>, www.docusign.com) or other transmission method
and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.8   <U>Interpretation</U>.
Except where expressly stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement: (a) &ldquo;include&rdquo;,
&ldquo;includes&rdquo; and &ldquo;including&rdquo; are not limiting; (b) &ldquo;hereof&rdquo;, &ldquo;hereto&rdquo;, &ldquo;hereby&rdquo;,
&ldquo;herein&rdquo; and &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement refer to this Agreement as a
whole and not to any particular provision of this Agreement; (c) &ldquo;date hereof&rdquo; refers to the date set forth in the initial
caption of this Agreement; (d) &ldquo;extent&rdquo; in the phrase &ldquo;to the extent&rdquo; means the degree to which a subject or other
thing extends, and such phrase does not mean simply &ldquo;if&rdquo;; (e) descriptive headings, the table of defined terms and the table
of contents are inserted for convenience only and do not affect in any way the meaning or interpretation of this Agreement; (f)&nbsp;definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms; (g)&nbsp;references to a Person
are also to its permitted successors and assigns; (h)&nbsp;references to an &ldquo;Article&rdquo;, &ldquo;Section&rdquo;, &ldquo;Recital&rdquo;,
&ldquo;preamble&rdquo;, &ldquo;Annex&rdquo;, &ldquo;Exhibit&rdquo; or &ldquo;Schedule&rdquo; refer to an article, section, recital or
preamble of, or an annex, exhibit or schedule to, this Agreement; (i)&nbsp;references to &ldquo;$&rdquo; or otherwise to dollar amounts
refer to the lawful currency of the United States; (j)&nbsp;references to a federal, state, local or foreign statute or law include any
rules, regulations and delegated legislation issued thereunder; (k)&nbsp;references to a communication by a regulatory agency include
a communication by the staff of such regulatory agency and (l)&nbsp;references to &ldquo;made available&rdquo; mean made available through
an electronic data room, through EDGAR or otherwise at least twenty-four (24) hours prior to the execution of this Agreement. The language
used in this Agreement shall be deemed to be the language chosen by the Parties hereto to express their mutual intent, and no rule of
strict construction shall be applied against any Party hereto. No summary of this Agreement prepared by any party shall affect the meaning
or interpretation of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.9
<FONT STYLE="background-color: white"><U>Notices</U></FONT>. All notices and other communications given or made pursuant to this Agreement
shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a)&nbsp;personal delivery to the Party
to be notified, (b)&nbsp;when sent, if sent by electronic mail during normal business hours of the recipient, and if not sent during
normal business hours, then on the recipient&rsquo;s next Business Day, (c)&nbsp;five (5) days after having been sent by registered or
certified U.S. mail, return receipt requested, postage prepaid, or (d)&nbsp;one (1) Business Day after deposit with a nationally recognized
overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications shall
be sent to the respective parties at their address as set forth below or such other address for which notice has been given pursuant
to this <U>Section 8.9:</U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Siebert Financial Corp. &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl. &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10017 &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: Andrew Reich, CFO &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: areich@siebert.com &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2049 Century Park East, 18th Floor &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los Angeles, CA 90067 &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: Mark Hiraide &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: mth@msk.com &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2765 Sand Hill Road &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menlo Park, CA 94025-7019 &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: bfinkelstein@omm.com &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vshariff@omm.com &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to Purchaser:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kakaopay Corporation &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">166 Pangyoyeok-ro, 15th Fl. Tower B, &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bundang-gu, Seongnam-si, &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gyeonggi-do, Republic of Korea 13529 &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hochul Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dongyoup Oh &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">simon.shin121@kakaopaycorp.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dwhy.oh@kakaopaycorp.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greenberg Traurig, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">One Vanderbilt Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael D. Helsel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jang H. Yeo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Namoury</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:&nbsp; </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">helselm@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yeoj@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adam.namoury@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shin &amp; Kim LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seoul, Republic of Korea 03155</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Young Joon Park</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hae Seong Ahn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Kang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yjopark@shinkim.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">hseahn@shinkim.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">jameskang@shinkim.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.10
<U>Specific Performance</U>. The Parties hereto agree that irreparable damage would occur if any provision of this Agreement were not
performed in accordance with the terms hereof, and, accordingly, that the Parties hereto shall, to the fullest extent permitted by applicable
Law, be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of
the terms and provisions hereof (including the parties&rsquo; obligation to consummate the Transactions) in the courts of the State of
New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York state
court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity as
expressly permitted in this Agreement. Each of the parties hereto hereby further waives, to the fullest extent permitted by applicable
Law, (a)&nbsp;any defense in any action for specific performance that a remedy at law would be adequate and (b)&nbsp;any requirement
under any Law to post security or a bond as a prerequisite to obtaining equitable relief.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.11
<U>Amendments and Waivers</U>. Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company
(acting on the recommendation of the Special Committee) and Purchaser. Any amendment or waiver effected in accordance with this <U>Section&nbsp;8.11
</U>shall be binding upon Purchaser and each transferee of the Second Tranche Shares, each future holder of all such securities, and
the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.12
<U>Severability</U>. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule
of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so
long as the economic or legal substance of the Transactions is not affected in any manner materially adverse to any Party. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner
in order that the Transactions be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.13
<U>Entire Agreement; Assignment</U>. This Agreement constitutes the full and entire understanding and agreement between the Parties with
respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between
the Parties are expressly canceled, superseded by this Agreement and merged herein. This Agreement shall not be assigned (whether pursuant
to a merger, by operation of law or otherwise) by any Party without the prior express written consent of the other Parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in; background-color: white">8.14
<U>Legal Representation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(a)   The
Company hereby agrees on behalf of its directors, members, partners, officers, employees and Affiliates, and each of their respective
successors and assigns (all such parties, the &ldquo;<U>Company Waiving Parties</U>&rdquo;), that Greenberg Traurig, LLP and Shin &amp;
Kim, LLC may represent Purchaser or its Subsidiaries or any of their respective directors, managers, members, partners, officers, employees
or Affiliates, in each case, in connection with any Action or obligation arising out of or relating to this Agreement, notwithstanding
its representation (or any continued representation) of Purchaser or its Subsidiaries or other Purchaser Waiving Parties, and each of
Purchaser and the Company on behalf of itself and Company Waiving Parties hereby consents thereto and irrevocably waives (and will not
assert) any conflict of interest, breach of duty or any other objection arising therefrom or relating thereto. The Company and Purchaser
acknowledge that the foregoing provision applies whether or not Greenberg Traurig, LLP and Shin &amp; Kim, LLC provides legal services
to any of Purchaser and its Subsidiaries after the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">(b)   Purchaser
hereby agrees on behalf of its directors, managers, members, partners, officers, employees and Affiliates, and each of their respective
successors and assigns (all such parties, the &ldquo;<U>Purchaser Waiving Parties</U>&rdquo;), that Mitchell Silberberg &amp; Knupp, LLP
and O&rsquo;Melveny &amp; Myers LLP may represent the Company or any of their respective directors, members, partners, officers, employees or
Affiliates, in each case, in connection with any Action or obligation arising out of or relating to this Agreement, notwithstanding its
representation (or any continued representation) of the Company or other Company Waiving Parties, and each of the Company and Purchaser
on behalf of itself and the Purchaser Waiving Parties hereby consents thereto and irrevocably waives (and will not assert) any conflict
of interest, breach of duty or any other objection arising therefrom or relating thereto. Purchaser acknowledges that the foregoing provision
applies whether or not Mitchell Silberberg &amp; Knupp, LLP and O&rsquo;Melveny &amp; Myers provide legal services to the Company after the
Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-weight: normal">[SIGNATURE
PAGE FOLLOWS]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">IN WITNESS WHEREOF, the
parties have executed this Second Tranche Stock Purchase Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Won Keun Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Won Keun Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Executive Officer</TD></TR>
  </TABLE>

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

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

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

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

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

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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.30
<SEQUENCE>4
<FILENAME>ea177556ex10-30_siebert.htm
<DESCRIPTION>FOREIGN BROKER-DEALER FEE SHARING AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.30</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Foreign Broker-Dealer Fee Sharing Agreement</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Foreign Broker-Dealer
Fee Sharing Agreement (this &ldquo;<B>Agreement</B>&rdquo;) is made as of the April 27, 2023 by Kakaopay Securities Corp., a corporation
organized and existing under the laws of South Korea (&ldquo;<B>KPS</B>&rdquo;), with its principal place of business located at 8F B-dong
166 Pangyoyeok-ro Bundang-gu Seongnam-Si, 13529 South Korea, and Muriel Siebert &amp; Co., Inc. (&ldquo;<B>MSCO</B>&rdquo;), a corporation
organized and existing under the laws of Delaware, with an office at 653 Collins Ave., Miami Beach, FL 33139, USA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Kakaopay Corporation,
a parent company of KPS and Siebert Financial Corp., a parent company of MSCO, have entered into a First Tranche Stock Purchase Agreement
(&ldquo;<B>First Tranche Agreement</B>&rdquo;) and Second Tranche Stock Purchase Agreement (&ldquo;<B>Second Tranche Agreement</B>&rdquo;)
pursuant to which Kakaopay Corporation will purchase certain shares of Sibert Financial Corp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, MSCO is registered
as a broker-dealer with the U.S. Securities and Exchange Commission; and is a member of the Financial Industry Regulatory Authority (&ldquo;<B>FINRA</B>&rdquo;)
and Securities Investors Protection Corporation (&ldquo;<B>SIPC</B>&rdquo;) which is engaged in the business of providing various brokerage
services includes trading and execution services in the U.S;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, KPS is a broker-dealer
registered with the South Korean Financial Services Commission (&ldquo;<B>FSC</B>&rdquo;) which is engaged in the business of providing
various brokerage services includes trading and execution services in South Korea;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, KPS is &ldquo;foreign
broker-dealer&rdquo; as described in SEC Rule 15a-6 and the adopting release to SEC Rule 15a-6 (SEC Release 34-27017);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, KPS and MSCO have
entered into the DVP/RVP Execution Agreement dated March 14, 2023 establishing a trading account for KPS at MSCO (the &ldquo;<B>KPS Account</B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, MSCO intends to act
as agent for the KPS Account pursuant to SEC Rule 15a-6(a)(4) and KPS intends to use the KPS Account to execute trades for itself and
its customers; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, MSCO may receive
payment for order flow for executing trades for the KPS Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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 mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which KPS and MSCO
(each a &ldquo;<B>Party</B>&rdquo; collectively the &ldquo;<B>Parties</B>&rdquo;) hereby acknowledge, the Parties agree as follows:</P>

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


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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Commissions and Fees.</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">MSCO shall pay KPS referral fees for orders it receives from
KPS in accordance with the Applicable Laws (defined below) and the terms and conditions of <U>Schedule A</U>, attached hereto. For the
avoidance of doubt, MSCO and KPS acknowledge that MSCO may make such payments to KPS subject to SEC Rule 15a-6.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify">MSCO shall provide KPS with documentation supporting the calculation
of the amount of referral fees due KPS pursuant to this Agreement, in accordance with <U>Schedule A</U>, attached hereto.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Article 1,
the payment of referral fees is subject to confirmation by the staff of the FINRA or obtaining legal opinion from an independent reputable
U.S. licensed counsel knowledgeable in the area (to be paid by KPS) that payment of referral fees to KPS, pursuant to this agreement,
is permissible as a regulatory matter.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Representations, Warranties and Covenants by MSCO. </B>MSCO
represents, warrants and covenants to KPS as of the date first above written and as of the Effective Date as if made on that date, as
follows:</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><I>Registration.</I> MSCO is, and during the term of this
Agreement will remain, duly registered and in good standing as a broker-dealer with the SEC, a member of FINRA and the SIPC and a licensed
broker-dealer of every state and each jurisdiction where the nature of the business conducted or the location of MSCO&rsquo;s associated
persons makes such license necessary.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify"><I>Authority to Enter Agreement.</I> MSCO has all requisite
authority, whether arising under applicable federal or state law or the rules and regulations of any securities exchange or other self-regulatory
organization (&ldquo;<B>SRO</B>&rdquo;) to which MSCO is subject, to enter into this Agreement and to discharge the duties and obligations
apportioned to it in accordance with the terms hereof.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify"><I>Compliance with Applicable Law.</I> MSCO is in material
compliance, and during the term of this Agreement will remain in material compliance, with all applicable laws, statutes, regulations,
rules, codes, ordinances, decrees, writs or orders enacted, adopted, issued or promulgated by any governmental authority, regulatory
body or SRO, collectively referred to herein as &ldquo;Applicable Law.&rdquo;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Accuracy of Representations, Warranties and Covenants.
</I>MSCO will notify KPS promptly if any of the representations warranties and covenants set forth in this Section 2 cease to be true.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Representations, Warranties and Covenants by KPS. </B>&#9;KPS
represents, warrants, and covenants to MSCO as of the date first above written and as of the Effective Date as if made on that date,
that:</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><I>Registration.</I> KPS is duly registered and in good standing
as a broker-dealer with the FSC. KPS does not operate in the U.S. KPS&rsquo;s customers are not &ldquo;U.S. Persons&rdquo; as defined
in 17 CFR &sect; 230.902(k).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify"><I>Authority to Enter Agreement. </I> KPS has all requisite
authority, whether arising under applicable federal or state law, or the rules and regulations of any SRO to which KPS is subject, to
enter into this Agreement and to discharge the duties and obligations apportioned to it in accordance with the terms hereof.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify"><I>Compliance with Applicable Law.</I> KPS is in material
compliance, and during the term of this Agreement will remain in material compliance, with all applicable laws, statutes, regulations,
rules, codes, ordinances, decrees, writs or orders enacted, adopted, issued or promulgated by any governmental authority, regulatory
body or SRO, collectively referred to herein as &ldquo;Applicable Law&rdquo;.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Accuracy of Warranties and Representations.</I> KPS will
notify MSCO promptly if any of the representations and warranties set forth in this section 3 cease to be true.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Term and Termination.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><I>General</I>. This Agreement shall be effective on the date
to be mutually agreed upon by the Parties in writing, which shall be no later than one (1) month from the Closing (as defined in the
Second Tranche Agreement) (the &ldquo;<B>Effective Date</B>&rdquo;). If the Parties are unable to agree on the Effective Date that is
earlier than or by the date that is one (1) month from the Closing, then this Agreement shall automatically take effect on the next business
day following the lapse of such one (1) month period. This Agreement shall terminate pursuant to mutual written consent of the Parties
or upon the earlier of (i) 90 days&rsquo; prior written notice by the terminating Party to the non-terminating Party or (ii) the date
on which the Second Tranche Agreement is terminated.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -36.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify"><I>Termination for Cause</I>. Either Party may terminate this
Agreement immediately by written or oral notice in the event of a material breach of this Agreement by the non-terminating party or if
any representation or warranty made by the non-terminating party shall prove to be incorrect at any time in any material respect.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Assignment</B>. Neither party may assign this Agreement
without the prior written consent of the other party.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Severability</B>. If any provision or condition of this
Agreement shall be held to be invalid or unenforceable, the validity or enforceability of the remaining provisions and conditions shall
not be affected thereby.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>7.</B></TD><TD STYLE="text-align: justify"><B>Conflicts and Amendments</B>. This Agreement supersedes
all other agreements between the parties with respect to the arrangements contemplated herein. This Agreement may not be amended except
by a writing signed by both parties.</TD>
</TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Notices.</B> All notices pursuant to this Agreement shall
be sent as follows:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.95pt; text-align: justify; text-indent: 0.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notices to KPS shall be sent to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KPS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8F B-dong 166 Pangyoyeok-ro</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bundang-gu Seongnam-Si,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13529 South Korea</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 86%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jin Hyuk Kim hector.k@kakaopaysec.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jung Seok Lee jude.yong@kakaopaysec.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notices to MSCO shall be sent to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Muriel Siebert &amp; Co., Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">653 Collins Ave.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miami Beach, FL 33139</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">USA </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Michael Colombino, CFO</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.95pt; text-align: justify; text-indent: 0.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Choice of Law.</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify">This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to its conflict of law principles.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify">All disputes and controversies relating to or in any way arising
out of this Agreement shall be settled by arbitration before and under the rules and auspices of FINRA.</TD>
</TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify"><I>Provisional Remedies</I>. Notwithstanding the provisions
of this section that any dispute or controversy between the parties relating to or arising out of this Agreement shall be referred to
and settled by arbitration, the parties may, at any time prior to the initial arbitration hearing pertaining to such dispute or controversy,
seek by application to the United States District Court for the Southern District of New York or the Supreme Court of New York any such
temporary or provisional relief or remedy (the &ldquo;<B>Provisional Remedy</B>&rdquo;) provided for by the laws of the United States
of America or the laws of the State of New York as would be available in an action based upon such dispute or controversy in the absence
of an agreement to arbitrate. The parties acknowledge and agree that it is their intention to have any such application for a Provisional
Remedy decided by the court to which it is made and that such application shall not be referred to or settled by arbitration. No such
application to either said court for a Provisional Remedy, nor any act or conduct by either party in furtherance of or in opposition
to such application, shall constitute a relinquishment or waiver of any right to have the underlying dispute or controversy with respect
to which such application is made settled by arbitration in accordance with this section.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Non-Employment<FONT STYLE="background-color: white">.
</FONT></B><FONT STYLE="background-color: white"> This Agreement is not intended to confer any employee-employer relationship. Each Party
affirms that their personnel are not employees of the other Party for any purpose. Each Party shall be fully responsible for the acts
of their personnel, regardless of whether such personnel are acting within the scope of their employment or agency. Each Party shall
be solely responsible for the payment of compensation of their personnel, and shall inform the other Party that they are not entitled
to any employee benefits or to participate in any compensation plans of the other Party.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Force Majeure.</B> <FONT STYLE="background-color: white">Neither
party shall be liable for, nor shall either party be considered in breach of this Agreement due to any failure to perform its obligations
under this Agreement as a result of any cause beyond its control, including, but not limited to, an action by any military, civil or
regulatory authority, a change in any law or regulation, a fire, flood, earthquake, storm or similar act of God, a disruption, imperfection
or outage of telecommunications, power or other utility, electrical disturbances, brownouts or blackouts, systems failures, failure of,
or errors in, third party equipment and software, or any other cause, whether similar or dissimilar to any of the foregoing, which could
not have been prevented by the non-performing party with commercially reasonable care.</FONT></TD>
</TR></TABLE>

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left blank]</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>KAKAOPAY SECURITIES CORP. </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>MURIEL SIEBERT &amp; CO., INC.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify">/s/ Seung Hyo Lee</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Michael J. Colombino</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"> Seung Hyo Lee</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:&nbsp;</TD>
    <TD>Michael J. Colombino</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="text-align: justify; width: 35%">CEO</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 5%">Title:</TD>
    <TD STYLE="width: 35%">CFO</TD>
    </TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-10.31
<SEQUENCE>5
<FILENAME>ea177556ex10-31_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.31</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and John J. Gebbia (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns 0 shares of Common Stock (all such shares and any shares of Common Stock of which ownership is hereafter acquired by
Gebbia prior to the termination of this Agreement being referred to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, his ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that he has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in his possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">princhepes@aol.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Won Keun Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">JOHN J. GEBBIA</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ John J. Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>6
<FILENAME>ea177556ex10-32_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.32</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective
Date</U>&rdquo;), by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay
Corporation, a company established under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and Gloria Gebbia
(&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo; and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized
terms used but not defined in this Agreement shall have the respective meanings ascribed to such terms in that certain Second
Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns Ten Million, Six Hundred Sixty Thousand, Four Hundred Ninety-Four (10,660,494) shares of Common Stock (all such shares and any shares of Common Stock of which ownership is hereafter acquired by
Gebbia prior to the termination of this Agreement being referred to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, her ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia acknowledges
that she has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed by
this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and
agrees that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the
Company Group is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the
Non-Competition Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is
required for the reasonable protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer
should Gebbia breach the Non-Compete Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant
are reasonably necessary to protect the business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in her possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">princhepes@aol.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Won Keun Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">JOHN J. GEBBIA</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ John J. Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.33
<SEQUENCE>7
<FILENAME>ea177556ex10-33_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.33</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and John and Gloria Gebbia Living Trust (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns 0 shares of Common Stock (all such shares and any shares of Common Stock of which ownership is hereafter acquired by
Gebbia prior to the termination of this Agreement being referred to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During the three (3)
year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration of the
amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among other
things, its ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone or
in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint
venturer, equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or
otherwise) any other Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any
of Purchaser, the Company or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall
prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from being a passive owner of not more than three percent (3%) of the
outstanding stock of any class of a publicly-traded corporation so long as none of such Persons has any active participation in the
business of such corporation; and further <U>provided</U> that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from owning and operating the Permitted Ventures and the business of RISE, subject to the following requirements with
respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that it has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in its possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">princhepes@aol.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Won Keun Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">JOHN AND GLORIA GEBBIA LIVING TRUST</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ John and Gloria Gebbia Living Trust</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.34
<SEQUENCE>8
<FILENAME>ea177556ex10-34_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.34</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and Richard Gebbia (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns Three Hundred Sixty-Three Thousand, Five Hundred Thirty-Five (363,535) shares of Common Stock (all such shares and any
shares of Common Stock of which ownership is hereafter acquired by Gebbia prior to the termination of this Agreement being referred to
herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, his ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that he has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in his possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 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="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">rgebbia@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD>Won Keun Shin<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Executive Officer<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">RICHARD GEBBIA</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Richard Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.35
<SEQUENCE>9
<FILENAME>ea177556ex10-35_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.35</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and John M. Gebbia (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns One Million, Nine Hundred Seven Thousand, Eight Hundred Ninety-One (1,907,891) shares of Common Stock (all such shares
and any shares of Common Stock of which ownership is hereafter acquired by Gebbia prior to the termination of this Agreement being referred
to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, his ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that he has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in his possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 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="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">jgebbia@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD>Won Keun Shin<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">JOHN M. GEBBIA</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ John M. Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.36
<SEQUENCE>10
<FILENAME>ea177556ex10-36_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.36</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and David Gebbia (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns One Million, Three Hundred Ninety-Seven Thousand, Three Hundred Eighteen (1,397,318) shares of Common Stock (all such shares and any shares of Common Stock of which ownership is hereafter acquired by
Gebbia prior to the termination of this Agreement being referred to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, his ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that he has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in his possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">dgebbia@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Won Keun Shin&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD>Won Keun Shin<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Executive Officer<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">DAVID GEBBIA</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/  David Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.37
<SEQUENCE>11
<FILENAME>ea177556ex10-37_siebert.htm
<DESCRIPTION>SUPPORT AND RESTRICTIVE COVENANT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.37</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font-variant: small-caps">Execution
Version</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="text-transform: uppercase"><B><U>Support
and Restrictive Covenant Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 76.5pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Support
and Restrictive Covenant Agreement </FONT>(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April 27, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among Siebert Financial Corp., a New York corporation (the &ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established
under the Laws of Korea (&ldquo;<U>Purchaser</U>&rdquo;), and Kimberly Gebbia (&ldquo;<U>Gebbia</U>&rdquo;) (each, a &ldquo;<U>Party</U>&rdquo;
and, collectively, the &ldquo;<U>Parties</U>&rdquo;). Capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to such terms in that certain Second Tranche Agreement (as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with the
execution of this Agreement, Purchaser and the Company shall enter into (i) a First Tranche Stock Purchase Agreement (the &ldquo;<U>First
Tranche Agreement</U>&rdquo;), pursuant to which, among other things, Purchaser shall purchase Eight Million, Seventy-Five Thousand, Six
Hundred Seven (8,075,607) shares of Common Stock (the &ldquo;<U>First Tranche Shares</U>&rdquo;) representing 19.9% of the outstanding
equity securities of the Company on a fully diluted basis (taking into account the issuance of the First Tranche Shares), on the terms
and subject to the conditions set forth therein (the &ldquo;<U>First Tranche</U>&rdquo;), and (ii) a separate Second Tranche Stock Purchase
Agreement (the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and, together with the First Tranche Agreement, the &ldquo;<U>Tranches Agreements</U>&rdquo;),
pursuant to which Purchaser shall purchase shares of Common Stock (the &ldquo;<U>Second Tranche Shares</U>&rdquo;), such that following
the Closing, Purchaser shall own 51% of the outstanding equity securities of the Company on a Fully-Diluted Basis (as defined in the Second
Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares), on the terms and subject
to the conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated in the Tranches Agreement, the &ldquo;<U>Transactions</U>&rdquo;); and the Company shall enter into an agreement prior to
the closing of the Second Tranche Agreement to sell the Company&rsquo;s equity interests in RISE Financial Services, LLC (&ldquo;<U>RISE</U>&rdquo;)
to Gebbia family members and other current or new RISE shareholders, subject to a valuation, resulting in the Company&rsquo;s remaining
equity interests in RISE being reduced to ten percent (10%) of the outstanding equity interests in RISE (the &ldquo;<U>RISE Transaction</U>&rdquo;).
In the event of a Closing under the Second Tranche Agreement, the Company shall be granted the right to participate in future financing
rounds of RISE at the then-current valuation to maintain 10% ownership (a preemptive right);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the Effective
Date, Gebbia owns Two Million, Six Hundred Eighty-Nine Thousand, Five Hundred Ninety-Two (2,689,592) shares of Common Stock (all such shares and any shares of Common Stock of which ownership is hereafter acquired by
Gebbia prior to the termination of this Agreement being referred to herein as the &ldquo;<U>Gebbia Stock</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Gebbia, together with
the Persons listed in <U>Schedule I</U> hereof (together with Gebbia, the &ldquo;<U>Gebbias</U>&rdquo;), control in excess of 50% of the
voting securities of the Company and have appointed certain directors to the Board; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement is being
executed as an inducement to Purchaser and the Company to enter into the Tranches Agreements and to consummate the Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the Parties hereby
agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1. <U>Agreement to Vote</U>.
With respect to the Gebbia Stock, Gebbia shall vote, and shall cause to be voted as applicable at any meeting of the Company&rsquo;s
stockholders, and in any action that is subject to written consent of the Company&rsquo;s stockholders (which written consent shall be
delivered promptly, and in any event within two (2) Business Days, following request by the Company), all of the Gebbia Stock held by
Gebbia at such time (a) in favor of the approval and adoption of the Tranches Agreements and approval of the Transactions and (b)&nbsp;against
(i) any action, agreement or transaction or proposal that would result in a breach of any covenant, representation or warranty or any
other obligation or agreement of the Company under the Tranches Agreements or the other agreements entered into in connection with the
Transactions or that could reasonably be expected to result in the failure of the Transactions from being consummated, (ii) other than
the Transactions, any business combination, arrangement, amalgamation, merger, consolidation, reorganization, recapitalization, liquidation,
dissolution, winding-up, material asset sale or similar transaction involving the Company, or any issuance of securities by the Company,
or any resolution to approve, ratify or adopt any of the foregoing, and (iii) any resolution, transaction or other action that is inconsistent
with, or could reasonably be likely to impede, interfere with, delay, postpone or adversely affect in any way the Transactions or any
of the other matters and transactions contemplated by the Tranches Agreements, and, in each case, cause the Gebbia Stock to be counted
as present at any meeting of the Company&rsquo;s stockholders in respect of any of the matters described in clauses (a) and (b) above,
as applicable, for quorum purposes. Gebbia acknowledges receipt and review of a copy of each of the Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2. <U>Transfer of Shares</U>.
From the Effective Date until the earlier of the Closing or the termination of the Second Tranche Agreement in accordance with its terms
(such period, the &ldquo;<U>Restricted Period</U>&rdquo;), Gebbia shall not, directly or indirectly, (a) sell, assign, transfer (except
as may be specifically required by court order or by operation of law), lien, pledge, dispose of or otherwise encumber any of the Gebbia
Stock or otherwise agree to do any of the foregoing, except for a sale, assignment or transfer pursuant to the Tranches Agreements or
among the Gebbias, (b) deposit any Gebbia Stock into a voting trust or enter into a voting agreement or arrangement or grant any proxy
or power of attorney with respect thereto that is inconsistent with this Agreement or (c) enter into any contract, option or other arrangement
or undertaking with respect to the direct or indirect acquisition or sale, assignment, transfer (including by operation of law) or other
disposition of any Gebbia Stock; <U>provided</U>, that, the foregoing shall not prohibit the transfer of the Gebbia Stock by Gebbia to
an Affiliate of Gebbia, but only if such Affiliate executes this Agreement or a joinder agreeing to become a party to this Agreement
prior to such transfer. For the purposes of this Agreement, &ldquo;<U>Affiliate</U>&rdquo; has the meaning set forth in the Second Tranche
Agreement; <U>provided</U> that the term &ldquo;control&rdquo; when used in the definition of Affiliate in the Second Tranche Agreement
means, for purposes of this Agreement, the possession, directly or indirectly of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or executor, by contract or otherwise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3. <U>No
Solicitation of Alternative Proposal</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates
not to, directly or indirectly: (i) solicit, initiate, facilitate or knowingly encourage, directly or indirectly, any inquiries, offers
or proposals that constitute, or would reasonably be expected to lead to, any Alternative Proposal; (ii) engage in discussions or negotiations
with (or inquiries, proposals or offers or other efforts that would reasonably be expected to lead to any Alternative Proposal), furnish
or disclose any non-public information relating to the Company or any of its Subsidiaries to any Person that has made any Alternative
Proposal; (iii) amend or grant any waiver or release under any standstill or similar agreement with respect to any class of equity securities
of the Company; (iv) approve, endorse, recommend, execute or enter into any agreement in principle, letter of intent, memorandum of understanding,
term sheet, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement or other written
arrangement relating to any Alternative Proposal or any proposal or offer that could reasonably be expected to lead to an Alternative
Proposal, or (v) resolve or agree to do any of the foregoing or otherwise authorize or permit any of its Representatives to take any such
action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) During
the Restricted Period, subject to the terms of Section 4.2 of each of the Tranches Agreements, Gebbia shall, and shall cause its Affiliates
to immediately cease any existing solicitations, discussions or negotiations with any Person conducted with respect to any Alternative
Proposal. Gebbia shall promptly inform its Affiliates of Gebbia&rsquo;s obligations under this <U>Section 3</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
shall notify Purchaser as promptly as possible (but in no event later than forty-eight (48) hours) after receipt of (i) any Alternative
Proposal or any inquiry, offer or proposal that would reasonably be expected to lead to, or result in, an Alternative Proposal or (ii)
any request for non-public information relating to the Company or any of its Subsidiaries, or any request for access to the business,
properties, assets, personnel, books or records of the Company or any of its Subsidiaries by any third-party, that would reasonably be
expected to lead to, or result in, an Alternative Proposal, which notice shall be in writing and shall include the identity of such Person
or Persons, the material terms and conditions of such Alternative Proposal, inquiry, offer, proposal or request, as applicable, and, if
available, a copy of such Alternative Proposal, inquiry, offer, proposal or request. Gebbia shall keep Purchaser reasonably informed on
a current and prompt basis of the status and material details of any such Alternative Proposal, inquiry, offer, proposal or request, including
the material terms and conditions thereof and any material amendments or proposed amendments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4. <U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the consummation of the First Tranche (the &ldquo;<U>Non-Solicitation Period</U>&rdquo;), in further
consideration of the amounts to be paid pursuant to the Tranches Agreements, Gebbia shall not, and shall cause its Affiliates not to,
directly or indirectly, alone or in concert with others, without the prior written consent of Purchaser (which consent may be withheld
for any reason), (i) hire or solicit for employment any employee of the Company or its Subsidiaries, (ii) induce or encourage any such
employee to no longer be employed by the Company or its Subsidiaries, (iii) solicit any customer of the Company or its Subsidiaries, or
(iv) intentionally interfere with the business relationships between the Company or its Subsidiaries and any of its customers or suppliers;
<U>provided</U>, <U>however</U>, that nothing in this <U>Section 4</U> shall prohibit Gebbia, or any of Gebbia&rsquo;s Affiliates, from
(w) soliciting any customers of the Company or its Subsidiaries on behalf of MUSE Group, Inc., Endurance Management LLC or related to
real estate ventures (each of the foregoing, &ldquo;<U>Permitted Ventures</U>&rdquo;), (x) engaging in general solicitations to the public
or general advertising not targeted at employees of the Company or its Subsidiaries, (y) soliciting or hiring any employee whose employment
has been terminated by the Company or its Subsidiaries following the Effective Date or (z) soliciting or hiring any employee whose employment
with the Company has been terminated by the employee following the Effective Date (but only after at least one hundred and eighty (180)
days have passed since the date of termination of such employment).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
restrictions set forth in this <U>Section 4</U> shall apply only to customers or suppliers of the Company with which Gebbia had material
contact during the last twenty-four (24) months of Gebbia&rsquo;s involvement with the Company. For purposes of this Agreement, &ldquo;material
contact&rdquo; means contact between Gebbia and each customer or supplier (A) with whom or which Gebbia dealt on behalf of the Company;
(B) whose dealings with the Company were coordinated or supervised by Gebbia; (C) about whom Gebbia obtained confidential information
in the ordinary course of business as a result of Gebbia&rsquo;s employment or involvement with the Company; or (D) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for
Gebbia within twenty-four (24) months prior to the date of Gebbia&rsquo;s termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5. <U>Non-Competition</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) During
the three (3) year-period following the Closing (such period, the &ldquo;<U>Non-Competition Period</U>&rdquo;), in further consideration
of the amounts to be paid directly to the Company pursuant to the Tranches Agreements and indirectly benefiting Gebbia through, among
other things, her ownership of the Gebbia Stock, Gebbia shall not, and shall cause its Affiliates not to, directly or indirectly, alone
or in concert with others, engage in, participate in or otherwise assist (whether as an owner, officer, partner, principal, joint venturer,
equityholder, director, member, manager, investor, lender, employee, agent, independent contractor, consultant or otherwise) any other
Person that engages in the same industry of the Company or its Subsidiaries or otherwise competes against any of Purchaser, the Company
or any of their respective Affiliates anywhere in the world; <U>provided</U>, that nothing herein shall prohibit Gebbia or any of Gebbia&rsquo;s
Affiliates from being a passive owner of not more than three percent (3%) of the outstanding stock of any class of a publicly-traded corporation
so long as none of such Persons has any active participation in the business of such corporation; and further <U>provided</U> that nothing
herein shall prohibit Gebbia or any of Gebbia&rsquo;s Affiliates from owning and operating the Permitted Ventures and the business of
RISE, subject to the following requirements with respect to RISE:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Prior
to the closing of the RISE Transaction, RISE shall not expand its current level of business activity, and, following the closing of the
RISE Transaction, the Company and its Subsidiaries shall have no responsibility to RISE for capital, guarantees or loans, and sharing
of human resource and office space will be mutually agreed upon among the Company, RISE and Purchaser;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) RISE
shall operate as an independent introducing broker and not as a clearing broker,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) RISE
shall introduce, execute and clear all of its client orders through Muriel Siebert &amp; Co., Inc. (&ldquo;<U>MSCO</U>&rdquo;), as long
as MSCO can support the business of RISE for the Non-Competition Period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) RISE
shall have the focus of becoming a women and minority owned and operated company, targeting only such strategic investors to achieve the
mission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(v) Any
Contract or agreement between RISE and the Company or any of its Subsidiaries shall require prior approval by Purchaser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(vi) RISE
shall not solicit any current customers of the Company and its Subsidiaries, <U>provided</U> that RISE may accept such customers of the
Company that choose to voluntarily open accounts at RISE without RISE having breached this <U>Section 5(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If,
at the time of enforcement of the covenants contained in this <U>Section 5</U> (&ldquo;<U>Non-Compete Covenant</U>&rdquo;), any court
located in New York or other courts of competent jurisdiction (collectively, the &ldquo;<U>Courts</U>&rdquo;) holds that the duration,
scope or territory stated herein are unreasonable under circumstances then existing or is otherwise unenforceable, the Parties hereby
waive any and all rights to claim that the Non-Compete Covenant, in whole or in part, is null, void and of no effect, and agree that the
maximum duration, scope or area as determined by the Courts and/or as permitted by applicable Law shall be applied in the construction,
interpretation, and/or enforcement of the Non-Compete Covenant. Gebbia has consulted with legal counsel regarding the Non-Compete Covenant
and has determined and hereby acknowledges that the Non-Compete Covenant is reasonable in terms of duration, scope and area restrictions
and is necessary to protect the goodwill of the Company&rsquo;s businesses and the substantial investment made by Purchaser under the
Tranches Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
acknowledges that she has carefully read, given careful consideration to, and is in full accord as to the necessity of the restraints imposed
by this <U>Section 5</U> for the reasonable and proper protection of the business strategies, employee and customer relationships and
goodwill of the business of the Company Group and the shares of Common Stock being acquired by Purchaser. Gebbia acknowledges and agrees
that the Non-Compete Covenant substantially covers the activities that comprise the market in which the business of the Company Group
is currently conducted. Gebbia further acknowledges that its agreement to comply with the Non-Compete Covenant for the Non-Competition
Period is manifestly reasonable upon its face and that it is reasonable as to time and is not greater than is required for the reasonable
protection of Purchaser and the Company in light of the substantial harm that Purchaser would suffer should Gebbia breach the Non-Compete
Covenant. Gebbia further agrees that the nature, kind and character of the Non-Compete Covenant are reasonably necessary to protect the
business of the Company Group as currently conducted.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6. <U>Non-Disparagement</U>.
Gebbia agrees that it shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement,
remark, comment or communication regarding the Purchaser, its business or any of its Affiliates or employees. Purchaser agrees that it
shall not, and shall cause its Affiliates not to, make any negative, defamatory, disparaging or derogatory statement, remark, comment
or communication regarding Gebbia or any of Gebbia&rsquo;s Affiliates or business ventures. The provisions of this <U>Section 6</U> shall
not prevent any Person from responding truthfully to a court order, subpoena, government audit or investigation or as otherwise required
by law or from providing truthful testimony in a dispute involving any of the Purchaser, Gebbia and their respective Affiliates and business
ventures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7. <U>Confidentiality</U>.
Gebbia shall not disclose or use at any time, and will cause each of its Affiliates not to use or disclose at any time, any confidential
information provided by Purchaser or its Affiliates in connection with the Transactions (the &ldquo;<U>Confidential Information</U>&rdquo;);
<U>provided</U> that Gebbia may use the Confidential Information in connection with the Transactions, and may disclose the Confidential
Information to its Representatives who have a need to know such Confidential Information in connection with the Transactions and are
bound by duty to Gebbia or an agreement with Gebbia to keep the Confidential Information confidential. Gebbia further agrees to take
appropriate steps (and to cause each of its Affiliates to take appropriate steps) to safeguard such Confidential Information and to protect
it against disclosure, misuse, espionage, loss or theft. In the event Gebbia or any of its Affiliate is required by Law to disclose any
Confidential Information, Gebbia shall promptly notify Purchaser in writing, which notification shall include the nature of the legal
requirement and the extent of the required disclosure, and Gebbia shall cooperate with Purchaser and the Company, but shall not be required
to incur expenses, to preserve the confidentiality of such information consistent with applicable Law. Confidential Information shall
not include information that (a) at the time of disclosure to Gebbia, is generally available to the public; (b) after disclosure to Gebbia,
becomes generally available to the public, other than as a result of a breach of this Agreement by Gebbia or any other party; (c) Gebbia
can establish was already in her possession at the time the information was received from Purchaser or its Affiliates, provided that
the source of the information was not known by Gebbia to be bound by an obligation of confidentiality to Purchaser or any other party
with respect to such information; (d) Gebbia receives from a third party, provided that the source of the information was not known by
Gebbia to be bound to an obligation of confidentiality to Purchaser or any other party with respect to such information; and (e) Gebbia
can establish was developed independently by Gebbia without use, directly or indirectly, of any Confidential Information. This <U>Section
7</U> shall terminate at the end of the two (2) year period following the Closing under the Second Tranche Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8. <U>Company Stockholder Meeting</U>.
For the purposes of Section 4.4 of the Second Tranche Agreement, Gebbia shall reasonably cooperate with the Company in the Company&rsquo;s
efforts to solicit or cause to be solicited from the Company&rsquo;s stockholders proxies in favor of the issuance of the Second Tranche
Shares in accordance with the Second Tranche Agreement and to secure the Requisite Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9. <U>Reasonable Efforts to
Cooperate</U>. Subject to and in furtherance of the provisions of the Tranches Agreements, including without limitation, the covenants
of the Company and Purchaser set forth in Section 4.4 of the First Tranche Agreement and Section 4.6 of the Second Tranche Agreement,
Gebbia shall use its reasonable efforts to cooperate with Purchaser and the Company in good faith to consummate and make effective the
Transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10. <U>Representations and
Warranties of Gebbia</U>. Gebbia represents and warrants to Purchaser as of the Effective Date and as of the Closing as though made on
the Closing Date as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Gebbia of this Agreement do not and will not (i) conflict with or violate any United States or
non-United States Law applicable to Gebbia or the Company Group, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any Person, or (iii) result in the creation of any encumbrance on any shares of Gebbia Stock
(other than under this Agreement, the Tranches Agreements and the Ancillary Agreements (as defined in the First Tranche Agreement)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) As
of the Effective Date, Gebbia owns exclusively and has good and valid title to the shares of Gebbia Stock free and clear of any Lien,
proxy, option, right of first refusal, agreement, voting restriction, limitation on disposition, charge, adverse claim of ownership or
use or other encumbrance of any kind, other than pursuant to (i) this Agreement, and (ii) applicable securities Laws, and, as of the Effective
Date, Gebbia has the sole power (as currently in effect) to vote and right, power and authority to sell, transfer and deliver such shares
of Gebbia Stock, and Gebbia does not own, directly or indirectly, any other Common Stock. As an exception to the foregoing representation
and warranty, Gebbia has granted to BCW Securities LLC a warrant to purchase up to 800,000 shares of the Gebbia Stock, on the terms and
subject to the conditions set forth in such warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Gebbia
has the power, authority and capacity to execute, deliver and perform this Agreement and this Agreement has been duly authorized, executed
and delivered by Gebbia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11. <U>Representations and
Warranties of Purchaser</U>. Purchaser represents and warrants to Gebbia as of the Effective Date and as of the Closing as though made
on the Closing Date as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
execution, delivery and performance by Purchaser of this Agreement do not and will not (i) conflict with or violate any United States
or non-United States Law applicable to Purchaser or (ii) require any consent, approval or authorization of, declaration, filing or registration
with, or notice to, any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Purchaser
has the power, authority and capacity to execute, deliver and perform this Agreement, and this Agreement has been duly authorized, executed
and delivered by Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12. <U>Termination</U>. Unless
terminated earlier by mutual written agreement of the Parties, this Agreement shall automatically terminate upon the termination of the
Second Tranche Agreement in accordance with its terms, except for the provisions in <U>Section 6</U>, which shall survive termination
indefinitely.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">13. <U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Except
as otherwise provided herein, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such costs and expenses, whether or not the Transactions are consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (i) personal delivery to the Party to be notified, (ii) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(iii) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (iv) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below or
such other address for which notice has been given pursuant to this <U>Section 13(b)</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in; width: 30%">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in; width: 65%"><FONT STYLE="font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">mth@msk.com.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">vshariff@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">If to Purchaser:</TD>
    <TD COLSPAN="2">Kakaopay Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">166 Pangyoyeok-ro, 15th Fl. Tower B,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Bundang-gu, Seongnam-si,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Gyeonggi-do, Republic of Korea 13529</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Hochul Shin</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dongyoup Oh</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>simon.shin121@kakaopaycorp.com</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">dwhy.oh@kakaopaycorp.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">With copy to:</TD>
    <TD COLSPAN="2">Greenberg Traurig, LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">One Vanderbilt Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">New York, New York 10022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">Attn:</TD>
    <TD STYLE="width: 65%">Michael D. Helsel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jang H. Yeo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Adam Namoury</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:&nbsp;</TD>
    <TD>helselm@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>yeoj@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>adam.namoury@gtlaw.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Shin &amp; Kim LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD COLSPAN="2">Seoul, Republic of Korea 03155</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Young Joon Park</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Hae Seong Ahn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James Kang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>Email:</TD>
    <TD>yjopark@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>hseahn@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>jameskang@shinkim.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">If to Gebbia:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4<SUP>th</SUP> Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">John G. Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">kgebbia@siebert.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Sadis &amp; Goldberg LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">551 Fifth Avenue, 21<SUP>st</SUP> Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">New York, NY 10176</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="text-indent: 0in"> <FONT STYLE="font-size: 10pt">Paul Marino</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Robert <FONT STYLE="font-size: 10pt">Cromwell</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">pmarino@sadis.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 1in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">rcromwell@sadis.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) This
Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject matter hereof. This Agreement
shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any Party without the prior express written
consent of the other Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) This
Agreement shall be binding upon and inure solely to the benefit of each Party (and Purchaser&rsquo;s permitted assigns), and nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The
recitals in this Agreement constitute an integral part of the agreement of the Parties and are legally binding to the same extent as if
the same were set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The
Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof,
and, accordingly, that the Parties shall, to the fullest extent permitted by applicable Law, be entitled to an injunction or injunctions
to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts of the
State of New York or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York
state court without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity
as expressly permitted in this Agreement. Each of the Parties hereby further waives, to the fullest extent permitted by applicable Law,
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to
post security or a bond as a prerequisite to obtaining equitable relief.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) This
Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS
IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH
PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS
UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED
HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION 13(B)</U> AND SERVICE SO MADE WILL BE DEEMED TO BE
COMPLETED UPON ACTUAL RECEIPT. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE COMMON STOCK ISSUED AND SOLD PURSUANT HERETO OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND
THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED
THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This
Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature pages follow]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SIEBERT FINANCIAL CORP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">/s/ Andrew Reich<FONT STYLE="font-size: 10pt"></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Andrew Reich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PURCHASER</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KAKAOPAY CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Won Keun Shin&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Won Keun Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Executive Officer<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GEBBIA</B>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KIMBERLY GEBBIA</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Kimberly Gebbia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page to Support
and Restrictive Covenant Agreement]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John J. Gebbia</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">Gloria Gebbia</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">Richard Gebbia</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">John M. Gebbia</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">David Gebbia</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">Kimberly Gebbia</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">John &amp; Gloria Gebbia Living Trust</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.38
<SEQUENCE>12
<FILENAME>ea177556ex10-38_siebert.htm
<DESCRIPTION>STOCKHOLDERS' AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.38</B></P>

<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>FINAL FORM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">STOCKHOLDERS&rsquo; AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS STOCKHOLDERS&rsquo; AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is entered as of [&#9679;], 2023, by and among Siebert Financial Corp., a New York corporation (the
&ldquo;<U>Company</U>&rdquo;), Kakaopay Corporation, a company established under the Laws of the Republic of Korea (&ldquo;<U>Kakaopay</U>&rdquo;),
the stockholders of the Company listed on Schedule I hereto (the &ldquo;<U>Gebbia Stockholders</U>&rdquo;), and [&#9679;] (the &ldquo;<U>Gebbia
Representative</U>&rdquo;), in such individual&rsquo;s individual capacity and as a representative of the Gebbia Stockholders. The Company,
Kakaopay, the Gebbia Stockholders and the Gebbia Representative are sometimes referred to collectively as the &ldquo;<U>Parties</U>&rdquo;
and each as a &ldquo;<U>Party</U>&rdquo;. Capitalized terms used in this Agreement but not otherwise defined herein shall have the meanings
as defined in the First Tranche Agreement or the Second Tranche Agreement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company and Kakaopay
are parties to that certain First Tranche Stock Purchase Agreement, dated as of the date hereof (the &ldquo;<U>First Tranche Agreement</U>&rdquo;),
which provides for, among other things, the purchase by Kakaopay of Eight Million, Seventy-Five Thousand, Six Hundred Seven (8,075,607)
shares of common stock, par value $0.01 per share, of the Company (&ldquo;<U>Common Stock</U>&rdquo; and such purchased shares, the &ldquo;<U>First
Tranche Shares</U>&rdquo;) representing 19.9% of the Company&rsquo;s total issued and outstanding Common Stock on a Fully-Diluted Basis
(as defined in the First Tranche Agreement)(taking into account the issuance of the First Tranche Shares), on the terms and conditions
set forth in the First Tranche Agreement (such transaction, the &ldquo;<U>First Tranche</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, concurrently with
the execution of the First Tranche Agreement, the Company and Kakaopay entered into a separate Second Tranche Stock Purchase Agreement
(the &ldquo;<U>Second Tranche Agreement</U>&rdquo;), pursuant to which Kakaopay shall purchase shares of Common Stock (the &ldquo;<U>Second
Tranche Shares</U>&rdquo;), so to own 51% of the Company&rsquo;s total issued and outstanding Common Stock on a Fully-Diluted Basis (as
defined in the Second Tranche Agreement)(taking into account the issuance of the First Tranche Shares and the Second Tranche Shares) on
the terms and conditions set forth therein (such purchase, the &ldquo;<U>Second Tranche</U>&rdquo;, and, together with the First Tranche
and the other transactions contemplated thereby, the &ldquo;<U>Transactions</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company, Kakaopay
and the Gebbia Stockholders desire to set forth certain understandings amongst themselves, including certain governance matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, the Parties
hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>Article
I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B></B></FONT><B>DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.1 Certain
Defined Terms</B>. As used herein, the following terms shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common
control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person,
any venture capital fund or registered investment company now or hereafter existing that is controlled by one or more general partners,
managing members or investment advisers of, or shares the same management company or investment adviser with, such Person, or any relative
of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
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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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>beneficial owner</U>&rdquo;
or &ldquo;<U>beneficially own</U>&rdquo; has the meaning given such term in Rule 13d-3 under the Exchange Act and a Person&rsquo;s beneficial
ownership of Common Stock shall be calculated in accordance with the provisions of such Rule; provided, however, that for purposes of
determining beneficial ownership, (i) a Person shall be deemed to be the beneficial owner of any security that may be acquired by such
Person, whether within 60 days or thereafter, upon the conversion, exchange or exercise of any warrants, options, rights or other securities
and (ii)&nbsp;no Person shall be deemed to beneficially own any security solely as a result of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Board</U>&rdquo;
means the board of directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo;
means any day that is not a Saturday, Sunday or other day on which banks are required or authorized to be closed in New York City, New
York and Seoul, the Republic of Korea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Common Stock</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Company</U>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Company Organizational
Documents</U>&rdquo; means the Company&rsquo;s organizational documents as currently in effect including, without limitation, the Company&rsquo;s
certificate of incorporation and bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>control</U>&rdquo;
(including the terms &ldquo;controlled by&rdquo; and &ldquo;under common control with&rdquo;), with respect to the relationship between
or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs
or management of a Person, whether through the ownership of voting securities, by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Director</U>&rdquo;
means any member of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Exchange Act</U>&rdquo;
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Executive Officers</U>&rdquo;
mean the executive officers of the Company, including its Chief Executive Officer and Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>First Tranche</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>First Tranche Agreement</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>First Tranche Shares</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Gebbia Director</U>&rdquo;
has the meaning set forth in <U>Section 2.2(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Gebbia Representative</U>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Gebbia Stockholders</U>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Independent Director</U>&rdquo;
means a director who is not an executive officer or employee of the Company, who would satisfy the standards for being considered an independent
director under the rules of The NASDAQ Global Market or any successor exchange on which the Common Stock is listed or traded and who,
in the opinion of a majority of the Independent Directors then serving on the Board, has no relationship which would interfere with the
exercise of independent judgment in carrying out the responsibilities of a Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Kakaopay</U>&rdquo;
has the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Kakaopay Director</U>&rdquo;
has the meaning set forth in <U>Section 2.2(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Offered Stock</U>&rdquo;
has the meaning set forth in <U>Section 3.2.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Offering Stockholder</U>&rdquo;
has the meaning set forth in <U>Section 3.2.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Permitted Transferee</U>&rdquo;
means (i) the members of a Party&rsquo;s family, (ii) any trust for the direct or indirect benefit of a Party or the family of such Party,
(iii) if a Party is a trust, the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, and (iv) an Affiliate
of any Party. In the case of the Gebbia Stockholders and the Gebbia Representative, Permitted Transferee shall exclude Michael Gebbia,
Brooklyn Gebbia, Ireland Gebbia, Cross Gebbia and Mysteri Gebbia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Person</U>&rdquo;
means any individual, corporation, limited liability company, limited or general partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Prospective Transferee</U>&rdquo;
has the meaning set forth in <U>Section 3.2.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>ROFR Exercise Notice</U>&rdquo;
has the meaning set forth in <U>Section 3.4.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>ROFR Exercise Notice
Date</U>&rdquo; has the meaning set forth in <U>Section 3.4.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>ROFR Exercise Period</U>&rdquo;
has the meaning set forth in <U>Section 3.4.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>ROFR Notice</U>&rdquo;
has the meaning set forth in <U>Section 3.3(a).</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second ROFR Exercise
Notice</U>&rdquo; has the meaning set forth in <U>Section 3.5(b).</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second ROFR Exercise
Notice Date</U>&rdquo; has the meaning set forth in <U>Section 3.5(d).</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second ROFR Exercise
Period</U>&rdquo; has the meaning set forth in <U>Section 3.5(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second ROFR Notice</U>&rdquo;
has the meaning set forth in <U>Section 3.5(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second ROFR Offeree</U>&rdquo;
has the meaning set forth in <U>Section 3.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second Tranche</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Second Tranche Agreement</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Termination</U>&rdquo;
has the meaning set forth in <U>Section 4.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transactions</U>&rdquo;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transfer</U>&rdquo;
means, directly or indirectly, to sell, transfer, assign, pledge, encumber, hypothecate or similarly dispose of, either voluntarily or
involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, assignment,
pledge, encumbrance, voting, receipt of dividends or other distributions, hypothecation or similar disposition of, any Common Stock beneficially
owned by a Person, including, but not limited to, any swap or any other agreement including a transaction that transfers or separates,
in whole or in part, any of the economic consequences of ownership of the Common Stock and/or voting rights in respect thereto. A Transfer
shall not be deemed to have occurred solely by reason of a change of control of the ultimate controlling Persons as of the date hereof
of the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transferee</U>&rdquo;
means any Person to whom Kakaopay or the Gebbia Stockholders Transfers shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transfer Offer</U>&rdquo;
has the meaning set forth in <U>Section 3.2.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transition Period</U>&rdquo;
has the meaning set forth in <U>Section 2.3(b).</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B></B></FONT><B>CORPORATE GOVERNANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.1 Board Size</B>.
The Board shall consist of seven (7) Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.2 Board Designees</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   As
promptly as practicable, but in no event later than twenty (20) Business Days following the consummation of the First Tranche: the Company,
Kakaopay and the Gebbia Stockholders will cause the following Persons to be nominated and appointed to serve as Directors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD>one (1) nominee designated by Kakaopay (each nominee designated by Kakaopay, a &ldquo;<U>Kakaopay Director</U>&rdquo;) who shall fill
the current vacancy on the Board; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD>six (6) nominees designated by the Gebbia Stockholders (collectively, &ldquo;<U>Gebbia Directors</U>&rdquo;, and each a &ldquo;<U>Gebbia
Director</U>&rdquo;), of whom three (3) shall be Independent Directors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   As
promptly as practicable, but in no event later than twenty (20) Business Days following the consummation of the Second Tranche, the Company
and the Gebbia Stockholders cause three (3) of the Gebbia Directors to resign, which Gebbia Directors will be replaced by three individuals
designated by Kakaopay as Kakaopay Directors, and the Company, Kakaopay and the Gebbia Stockholders shall cause such Kakaopay Directors
to be appointed to serve as Directors such that following the consummation of the Second Tranche, the composition of the Board shall be
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD>four (4) nominees designated by Kakaopay as Kakaopay Directors, of whom one (1) shall be an Independent Director (as defined above),
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD>three (3) nominees designated by the Gebbia Stockholders as Gebbia Directors, of whom two (2) shall be Independent Directors, one
of whom shall be an &ldquo;audit committee financial expert&rdquo; within the meaning of Sections 406 and 407 of the Sarbanes-Oxley Act
of 2002.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   In
the event that the Gebbia Stockholders hold shares of Common Stock, in the aggregate, representing 10% or more, but less than 20%, of
the Company&rsquo;s total issued and outstanding Common Stock on a fully diluted basis as a result of one or more Transfer(s), issuance(s)
of Common Stock or otherwise, the Company, Kakaopay and the Gebbia Stockholders shall cause:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">five (5) nominees designated by Kakaopay as Kakaopay Directors, of whom two (2) shall be Independent Directors,
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">two (2) nominees designated by the Gebbia Stockholders as Gebbia Directors, of whom one (1) shall be an
Independent Director.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)   Notwithstanding
the foregoing and provided that in the aggregate Kakaopay and the Gebbia Stockholders hold shares of Common Stock exceeding 50% of the
Company&rsquo;s total issued and outstanding Common Stock on a fully diluted basis, in the event that Kakaopay holds shares of Common
Stock representing less than 51% of the Company&rsquo;s total issued and outstanding Common Stock on a fully diluted basis as a result
of one or more Transfer(s), issuance(s) of Common Stock or otherwise, the number of Kakaopay Directors and Gebbia Directors shall reflect
(as closely as possible and without the need to increase the size of the Board) the total shares of Common Stock owned by Kakaopay and
the Gebbia Stockholders, respectively, on a pro rata basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)   Kakaopay
and the Gebbia Stockholders agree to cause the Kakaopay Directors or Gebbia Directors, respectively, to resign as necessary, to create
vacancies that shall be filled by nominees in accordance with this <U>Section 2.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)   In
the event that a vacancy is created on the Board at any time by the death, disability, resignation or removal of a Kakaopay Director or
Gebbia Director, then (i) Kakaopay, with respect to a vacancy created by the death, disability, resignation or removal of a Kakaopay Director,
and (ii) the Gebbia Stockholders, with respect to a vacancy created by the death, disability, resignation or removal of a Gebbia Director,
shall be entitled to designate an individual to fill the vacancy immediately following such vacancy and the Board shall appoint such individual
to fill such vacancy. The Company, Kakaopay and the Gebbia Stockholders will cause such replacement designee to become a Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.3 Conduct
of the Company&rsquo;s Affairs</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   The
Company, Kakaopay and the Gebbia Stockholders agree to exercise all rights available to them to cause the Board and the management of
the Company to operate the business of the Company in the ordinary course and in accordance with the Company Organizational Documents,
the First Tranche Agreement and the Second Tranche Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   For
a period of one (1) year following the consummation of the Second Tranche (the &ldquo;<U>Transition Period</U>&rdquo;), the Company, Kakaopay
and the Gebbia Stockholders agree to cause the Board and the management of the Company, as applicable, to implement the Company&rsquo;s
business plan as such business plan has been agreed to by such Parties as of the date hereof, which business plan includes those items
set forth on Section 4.5(b) Disclosure Schedule for the First Tranche Agreement and Schedule 4.7(b) of the Company Disclosure Schedule
for the Second Tranche Agreement, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   The
use of investments proceeds will be used as documented in <U>Schedule II</U> hereto, provided that the Company provides a written report
to the Board on the planned monthly expenditures prior to incurring such expenditures. The Company, Kakaopay and the Gebbia Stockholders
further agree that any material changes to such business plan or material deviations in the operations of the Company from such business
plan during the Transition Period, shall require the prior written consent of the Gebbia Directors. Kakaopay and the Gebbia Stockholders
shall cause each of the Kakaopay Directors and the Gebbia Directors, as applicable, to take all required actions necessary to implement
the provisions set forth in this <U>Section 2.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)   Notwithstanding
anything contained in this <U>Article II</U> to the contrary, any item set forth on Schedule 4.5(b) of the Company Disclosure Schedule
for the First Tranche Agreement and Schedule 4.7(b) of the Company Disclosure Schedule for the Second Tranche Agreement may be approved
by a simple majority of the Board in accordance with the Company Organizational Documents and shall not be subject to the provisions of
<U>Section 2.4</U> of this Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.4 Matters
Requiring Consent</B>. For a period beginning upon the consummation of the First Tranche and ending the earlier of: (i) three years following
the consummation of the Second Tranche or the consummation of the First Tranche in case the consummation of the Second Tranche does not
take place, (ii) such time when Kakaopay holds shares of Common Stock representing less than ten percent (10%) of the Company&rsquo;s
total issued and outstanding Common Stock on a fully diluted basis or (iii) such time when the Gebbia Stockholders hold, in the aggregate,
shares of Common Stock representing less than ten percent (10%) of the Company&rsquo;s total issued and outstanding Common Stock on a
fully diluted basis, the Company shall not, without the prior written consent of at least two/thirds (2/3rds) of the Board (including
at least one (1) Kakaopay Director and one (1) Gebbia Director), agree to any of the following actions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   acquisitions,
mergers, amalgamation, consolidation, reorganization, recapitalization, voluntary de-listing from any trading market, or dispositions
of material assets or another business (whether through a merger, share purchase, asset purchase, other similar transaction, or any transaction
described in rule 13e-3 promulgated under the Securities Exchange Act of 1934, as amended);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   transactions
or agreements, or material amendments to existing agreements between the Company and/or its subsidiaries, on the one hand, and an Affiliate
(which shall not include the Company and/or its subsidiaries), on the other, including any going-private or other transaction with Kakaopay
or Kakaopay&rsquo;s Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   material
amendments to the Foreign Broker-Dealer Fee Sharing Agreement or any similar agreements between the Company and/or its Affiliates on the
one hand and Kakaopay and/or its Affiliates on the other related to the sharing of revenues, commissions, rebates or similar matters;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)   amendments
to, or waiver of any provisions of, any of the Company Organizational Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)   increases
or decreases to the size of the Board; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)   any
authorization, creation, issuance, offer or sale of any equity and/or equity related security (including any security convertible into,
exchangeable for, or exercisable for any security) of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.5 Voting Agreement</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   Except
as otherwise agreed to in writing by the Company in advance, from the period commencing with the consummation of the First Tranche and
continuing until the Termination, Kakaopay and each Gebbia Stockholder irrevocably and unconditionally agrees to vote (or cause to be
voted) all shares of Common Stock held by such stockholder at any meeting of the Company&rsquo;s stockholders, and at every adjournment
or postponement thereof, however called, or in connection with any written consent of the Company&rsquo;s stockholders (i) in favor of
(a) each Kakaopay Director nominated pursuant to <U>Section 2.2</U>, (b) each Gebbia Director nominated pursuant to <U>Section 2.2</U>,
(c) any proposal to adjourn or postpone such meeting of Company stockholders, and (d) any action which is intended or would be expected
to ensure the performance of any and all other agreements set forth in this Agreement, and (ii) against any action which is intended or
would be expected to prevent the performance of any other agreement set forth in this Agreement. Kakaopay and each Gebbia Stockholder
shall not enter into any contract or agreement with any Person, the effect of which would be inconsistent with the provisions and agreements
contained in this <U>Section 2.5</U> or that would otherwise violate this Agreement. Kakaopay and each Gebbia Stockholder shall retain
at all times the right to vote the shares of Common Stock held by such stockholder in such stockholder&rsquo;s sole discretion, and without
any other limitation, on any matters other than those set forth in this <U>Section 2.5</U> that are at any time or from time to time presented
for consideration to the Company&rsquo;s stockholders generally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   By
entering into this Agreement, solely to the extent of a failure of Kakaopay or a Gebbia Stockholder to act in accordance with its obligations
under <U>Section 2.5(a)</U> hereof, Kakaopay and the Gebbia Stockholders hereby appoint the Company and any designee of the Company, and
each of them individually, their proxies and attorneys-in-fact, with full power of substitution and re-substitution, to vote during the
term of this Agreement with respect to the shares of Common Stock held by such holders in accordance with <U>Section 2.5(a)</U> hereof.
Kakaopay and the Gebbia Stockholders shall take such further action or execute such other instruments as may be necessary to effectuate
the intent of this proxy and power of attorney. Each proxy and power of attorney granted by Kakaopay and the Gebbia Stockholders: (i)
is given to secure the performance of the duties of Kakaopay and each of the Gebbia Stockholders under this Agreement; (ii) shall be irrevocable
from the period commencing with the consummation of the First Tranche until the Termination; (iii) shall be deemed to be coupled with
an interest sufficient in law to support an irrevocable proxy; (iv) shall revoke any and all prior proxies granted by Kakaopay or any
Gebbia Stockholder with respect to shares of Common Stock; (v) is a durable power of attorney and shall survive the bankruptcy, death,
or incapacity of Kakaopay and each Gebbia Stockholder, respectively, to the extent not revoked and terminated in accordance with this
<U>Section 2.5(b)</U>; (vi) shall not be exercised to vote, consent or act on any matter except as contemplated by <U>Section 2.5(a)</U>
above; and (vii) shall be revoked, terminated and of no further force or effect, automatically and without further action, immediately
upon the Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   Kakaopay
and the Gebbia Stockholders are entering into this Agreement solely in their respective capacities as record holders or beneficial owners
of shares of Common Stock. This <U>Section 2.5</U> shall not in any way limit or affect any actions taken (or any failures to act) by
any director, officer or employee of Kakaopay or the Gebbia Stockholders in his or her capacity as a director, officer or employee of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>Article
III</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B></B></FONT><B>RESTRICTIONS ON TRANSFER; RIGHTS OF REFUSAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.1 Restrictions
on Transfer</B>. Each of Kakaopay and the Gebbia Stockholders agree not to Transfer any shares of Common Stock (i) other than in compliance
with the provisions of the Company Organizational Documents and any applicable law and (ii) except for a Transfer by a Party to such Party&rsquo;s
Permitted Transferee, only after such Party has fully complied with the provisions of this <U>Article III</U>. Any Transfer in contravention
of this <U>Section 3.1</U> shall be null and void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.2 Offered
Stock</B>. The Company shall have a right of first refusal if (i) Kakaopay or (ii) any of the Gebbia Stockholders (in each case, an &ldquo;<U>Offering
Stockholder</U>&rdquo;) receives a bona fide offer from any Person (a &ldquo;<U>Prospective Transferee</U>&rdquo;), that the Offering
Stockholder desires to accept (a &ldquo;<U>Transfer Offer</U>&rdquo;), to Transfer all or any portion of its shares of Common Stock in
one or more transactions (the &ldquo;<U>Offered Stock</U>&rdquo;); provided, however, that an Offering Stockholder may Transfer shares
of Common Stock representing up to 5% of the outstanding shares of Common Stock as of the date of this Agreement without such Transfers
qualifying as &ldquo;Transfer Offer&rdquo;; provided further, that in no case shall a Transfer by a Party to such Party&rsquo;s Permitted
Transferee qualify as a &ldquo;Transfer Offer&rdquo;. Each time an Offering Stockholder receives a Transfer Offer for any Offered Stock
from a Prospective Transferee, the Offering Stockholder shall first make an offering of the Offered Stock to the Company, followed by
an offer to the other Party hereto, if applicable (the &ldquo;<U>Second ROFR Offeree</U>&rdquo;), in accordance with the following provisions
of this <U>Article III</U>, prior to Transferring such Offered Stock to the Prospective Transferee. Neither Party may avoid the applicability
of the provisions set forth in this <U>Section 3.2</U>, if such avoidance is in connection to, or otherwise derives, directly or indirectly,
from either Party&rsquo;s failure to act in good faith. For the purposes of this <U>Section 3.2</U>, references to either Party shall
exclude the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.3 Offer Notice.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   The
Offering Stockholder shall, within five (5) Business Days of receipt of the Transfer Offer, give written notice (a &ldquo;<U>ROFR Notice</U>&rdquo;)
to the Company stating that it has received a Transfer Offer for the Offered Stock and specifying:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">the type and aggregate number of shares of Offered Stock to be Transferred by the Offering Stockholder&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">the proposed date of the closing of the Transfer, which shall not be less than 60 (sixty) days from the
date of the ROFR Notice, unless otherwise agreed to by the Company in writing&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">the purchase price per share for the Offered Stock and the other material terms and conditions of the
Transfer Offer&#894; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">the name of the Prospective Transferee who has offered to purchase such Offered Stock.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   The
ROFR Notice shall constitute the Offering Stockholder&rsquo;s offer to Transfer all or any portion of the Offered Stock to the Company
in accordance with the provisions of this <U>Article III</U>, which offer shall be irrevocable until the end of the ROFR Exercise Period
described in <U>Section 3.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   By
delivering the ROFR Notice, the Offering Stockholder represents and warrants to the Company that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">the Offering Stockholder has full right, title and interest in and to the Offered Stock described in the
ROFR Notice&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">the Offering Stockholder has all the necessary power and authority and has taken all necessary action
to Transfer the Offered Stock described in the ROFR Notice as contemplated by this <U>Article III</U>&#894; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">the Offered Stock described in the ROFR Notice is free and clear of any and all liens other than those
arising as a result of or under the terms of this Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.4 Exercise
of Right of First Refusal</B>. Within five (5) Business Days following the receipt of the ROFR Notice (the &ldquo;<U>ROFR Exercise Period</U>&rdquo;),
the Company shall deliver a written notice (the &ldquo;<U>ROFR Exercise Notice</U>&rdquo;) to the Offering Stockholder (such date of delivery,
the &ldquo;<U>ROFR Exercise Notice Date</U>&rdquo;) stating its election to either (i) exercise its right to purchase all or any portion
of the Offered Stock on the terms and conditions, including the purchase price, set forth in the ROFR Notice, and specifying therein the
number of shares of Offered Stock it elects to purchase, or (ii) decline to exercise its right to purchase all or any portion of the Offered
Stock. The Company&rsquo;s failure to deliver the ROFR Exercise Notice to the Offering Stockholder within the ROFR Exercise Period will
be deemed as a refusal to exercise its right to purchase the Offered Stock pursuant to this <U>Section 3.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.5 Right of
Second Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   In
the event that the Company has not exercised its right to purchase all of the Offered Stock or has declined to exercise its right to purchase
any of the Offered Stock pursuant to <U>Section 3.4</U> within the ROFR Exercise Period, the Offering Stockholder shall within five (5)
Business Days of the earlier of the ROFR Exercise Notice Date or the end of the ROFR Exercise Period, give written notice (the &ldquo;<U>Second
ROFR Notice</U>&rdquo;) to the Second ROFR Offeree stating that it has received a Transfer Offer for the Offered Stock (such Offered Stock
amount adjusted to reflect the election, if any, by the Company to purchase a portion of the Offered Stock pursuant to <U>Section 3.4</U>).
The Second ROFR Notice shall specify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD>the type and aggregate number of shares of the Offered Stock to be Transferred by the Offering Stockholder&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">the proposed date of the closing of the Transfer, which shall not be less than 60 (sixty) days from the
date of the Second ROFR Notice, unless otherwise agreed to by the Second ROFR Offeree in writing&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">the purchase price per share for the Offered Stock equal to that in the ROFR Notice, and the other material
terms and conditions of the Transfer Offer no less favorable than those in the ROFR Notice&#894; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">the name of the Prospective Transferee who has offered to purchase such Offered Stock.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   The
Second ROFR Notice shall constitute the Offering Stockholder&rsquo;s offer to Transfer all or any portion of the Offered Stock to the
Second ROFR Offeree in accordance with the provisions of this <U>Article III</U>, which offer shall be irrevocable for a period of five
(5) Business Days following the receipt of the Second ROFR Notice (the &ldquo;<U>Second ROFR Exercise Period</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)   By
delivering the Second ROFR Notice, the Offering Stockholder represents and warrants to the Second ROFR Offeree that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">the Offering Stockholder has full right, title and interest in and to the Offered Stock described in the
Second ROFR Notice&#894;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">the Offering Stockholder has all the necessary power and authority and has taken all necessary action
to Transfer the Offered Stock described in the Second ROFR Notice as contemplated by this <U>Article III</U>&#894; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">the Offered Stock described in the Second ROFR Notice is free and clear of any and all liens other than
those arising as a result of or under the terms of this Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)   During
the Second ROFR Exercise Period, the Second ROFR Offeree shall deliver a written notice (the &ldquo;<U>Second ROFR Exercise Notice</U>&rdquo;)
to the Offering Stockholder (such date of delivery, the &ldquo;<U>Second ROFR Exercise Notice Date</U>&rdquo;) stating its election to
either (i) exercise its right to purchase all or any portion of the Offered Stock on the terms and conditions, including the purchase
price, set forth in the Second ROFR Notice, and specifying therein the number of shares of Offered Stock it elects to purchase, or (ii)
decline to exercise its right to purchase all or any portion of the Offered Stock. The Second ROFR Offerees failure to deliver the Second
ROFR Exercise Notice to the Offering Stockholder within the Second ROFR Exercise Period will be deemed as a refusal to exercise its right
to purchase the Offered Stock pursuant to this <U>Section 3.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.6 Consummation
of Sale. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   In
the event that the Company, the Second ROFR Offeree, or both, has/have exercised its respective right to purchase all or any portion of
the Offered Stock, then the Offering Stockholder shall sell such Offered Stock to the Company, the Second ROFR Offeree, or both, respectively,
within ten (10) Business Days following the expiration of the ROFR Exercise Period and/or Second ROFR Exercise Period, respectively (which
periods may be extended for up to an additional ninety (90) days to the extent necessary to obtain required approvals or consents from
any governmental authority). The Offering Stockholder shall take all actions as may be necessary to consummate the sale or sales contemplated
by this <U>Article III</U> including, without limitation, entering into agreements and delivering certificates and instruments and consents
as may be deemed necessary or appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   In
the event that the Company and/or the Second ROFR Offeree has/have not exercised their respective rights to purchase all of the Offered
Stock by the expiration of the ROFR Exercise Period and the Second ROFR Exercise Period, respectively, then, provided the Offering Stockholder
has also complied with the provisions of <U>Article III</U>, to the extent applicable, the Offering Stockholder may Transfer all (or the
remaining portion) of such Offered Stock to the Prospective Transferee, at a price per share for the Offered Stock not less than that
specified in the ROFR Notice and the Second ROFR Notice and upon terms and conditions no more favorable to the Prospective Transferee
than those specified in the ROFR Notice and the Second ROFR Notice, but only to the extent that such Transfer occurs within ninety (90)
days after expiration of the Second ROFR Exercise Period. Any Offered Stock not Transferred within such ninety (90) day period will be
subject to the provisions of this <U>Article III</U> upon any subsequent Transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>Article
IV</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B></B></FONT><B>MISCELLANEOUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.1 Gebbia Representative</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)   The
Gebbia Stockholders, by approving this Agreement and the Transactions contemplated by the First Tranche Agreement and the Second Tranche
Agreement, the principal terms of the Transactions, and the consummation of the Transactions or by participating in the Transactions and
receiving the benefits thereof, shall be deemed to have approved the appointment of, and hereby irrevocably appoint and constitute, [&bull;]
as the Gebbia Representative for and on behalf of the Gebbia Stockholders to exercise rights on behalf of the Gebbia Stockholders pursuant
to <U>Article III</U>, to execute and deliver this Agreement and for all other purposes hereunder, to give and receive notices and communications,
to nominate the Gebbia Directors pursuant to <U>Section 2.2</U>, as applicable, to enter into and provide amendments and modifications
to and waivers in respect of this Agreement in accordance with <U>Section 4.5</U> of this Agreement, and to take all actions necessary
or appropriate in the good faith judgment of the Gebbia Representative for the accomplishment or any or all of the foregoing; provided
that the Gebbia Representative shall not be entitled to exercise the voting rights of any Gebbia Stockholder unless such Gebbia Stockholder
has granted the Gebbia Representative a proxy with respect to any such vote. The Gebbia Representative may resign at any time, and such
Gebbia Representative may be changed by the approval of the Gebbia Stockholders by the approval of the Gebbia Stockholders holding a majority
of the issued and outstanding Common Stock held in the aggregate by the Gebbia Stockholders immediately prior to the consummation of the
First Tranche upon not less than ten (10) day&rsquo;s prior written notice to all of the Gebbia Stockholders and to the Company. Following
the consummation of the First Tranche, notices or communications, in writing, to or from the Gebbia Representative shall constitute notice
to or from each of the Gebbia Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)   A
decision, act, consent or instruction of the Gebbia Representative in writing shall constitute a decision of all of the Gebbia Stockholders
and shall be final, binding and conclusive upon each and every Gebbia Stockholder, and the Company and Kakaopay may rely (without any
obligation for further inquiry, and disregarding any dispute between the Gebbia Representative and any Gebbia Stockholder) upon any decision,
act, consent or instruction of the Gebbia Representative in writing as being the decision, act, consent or instruction of each and every
Gebbia Stockholder. The Company and Kakaopay shall not incur any liability of any kind with respect to any action or omission by the Gebbia
Representative in connection with the Gebbia Representative&rsquo;s services pursuant to this Agreement and shall not incur any liability
of any kind to any Person for any acts done by them in accordance with such decision, act, consent or instruction of the Gebbia Representative
in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.2 Rights Not
Transferrable</B>. No Transferee of Kakaopay or the Gebbia Stockholders shall be entitled to any rights under this Agreement, other than
any Transferees who are Affiliates (through equity ownership) of Kakaopay or the Gebbia Stockholders, respectively, and who agree in writing
to be bound by the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.3 Termination</B>.
This Agreement shall terminate (the &ldquo;<U>Termination</U>&rdquo;), and any and all rights held by the Gebbia Stockholders and Kakaopay
pursuant to this Agreement shall cease, at such time as either the Gebbia Stockholders, in the aggregate, or Kakaopay hold less than five
percent (5%) of the of the Company&rsquo;s total issued and outstanding Common Stock on a fully diluted basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.4 Further
Assurance</B>. Each Party shall, at the request of the other Party, execute and deliver such other instruments and undertake such other
actions that may be reasonably necessary or desirable for implementing the provisions set forth in this Agreement, including, but not
limited to, the amendment of the Company Organizational Documents. The Parties shall and shall cause each its respective officers, managers
and/or directors, as applicable, to use their reasonable best efforts to take any further action that may be necessary or desirable for
such Party&rsquo;s performance of this Agreement after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.5 Amendments
and Modifications</B>. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this Agreement shall
be effective without the approval in writing of the Company, Kakaopay and the Gebbia Representative&#894; provided, that any Party may
waive in writing the benefit of any provision of this Agreement with respect to itself for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.6 Waivers,
Delays and Omissions</B>. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any Party, upon any
breach, default or noncompliance by another Party under this Agreement, shall impair any such right, power or remedy, nor shall it be
construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default
or noncompliance thereafter occurring. No single or partial exercise of any such right, power, remedy, or any abandonment or discontinuance
of steps to enforce such right power or remedy, or any course of conduct, preclude any other or further exercise thereof or the exercise
of any other right, power or remedy. It is further agreed that any waiver, permit, consent or approval of any kind or character on the
part of any Party hereto of any breach, default or noncompliance under this Agreement or any waiver on such Party&rsquo;s part of any
provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement, by law, or otherwise afforded to any Party, shall be cumulative and are not exclusive
of any rights or remedies which they would otherwise have hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.7 Successors,
Assigns and Transferees</B>. This Agreement shall bind and inure to the benefit of and be enforceable by the Parties hereto and their
permitted successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.8 Notices</B>.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt, or (a) personal delivery to the Party to be notified, (b) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next Business Day,
(c) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (d) one
(1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery,
with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth below
or such other address for which notice has been given pursuant to this <U>Section 4.8</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">if to the Company:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Siebert Financial Corp. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">535 Fifth Avenue, 4th Fl. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">New York, New York 10017 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="width: 67.5%"> <FONT STYLE="font-size: 10pt">Andrew Reich, CFO </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Email:</FONT>&nbsp;</TD>
    <TD> <FONT STYLE="font-size: 10pt">areich@siebert.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">with a copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">2049 Century Park East, 18th Floor </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Los Angeles, CA 90067 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="width: 67.5%"> <FONT STYLE="font-size: 10pt">Mark Hiraide </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">mth@msk.com </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">2765 Sand Hill Road </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Menlo Park, CA 94025-7019 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Brad Finkelstein </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Viq Shariff </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Email:</FONT>&nbsp;</TD>
    <TD STYLE="width: 67.5%"> <FONT STYLE="font-size: 10pt">bfinkelstein@omm.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">vshariff@omm.com </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">if to Kakaopay:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Kakaopay Corporation </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">166 Pangyoyeok-ro, 15th Fl. Tower B, </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Bundang-gu, Seongnam-si,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Gyeonggi-do, Republic of Korea 13529 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Hochul Shin </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Dongyoup Oh</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; width: 5%"><FONT STYLE="font-size: 10pt">Email:</FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; width: 67.5%"> <FONT STYLE="font-size: 10pt">simon.shin121@kakaopaycorp.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">dwhy.oh@kakaopaycorp.com </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in"></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 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">with a copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Greenberg Traurig, LLP </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">One Vanderbilt Avenue </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">New York, New York 10022 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attn:</FONT></TD>
    <TD> <FONT STYLE="font-size: 10pt">Michael D. Helsel </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jang H. Yeo </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Adam Namoury </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Email:</FONT>&nbsp;</TD>
    <TD STYLE="width: 67.5%"> <FONT STYLE="font-size: 10pt">helselm@gtlaw.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">yeoj@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">adam.namoury@gtlaw.com</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Shin &amp; Kim LLC </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">D-Tower (D2), 17 Jongno 3-gil, Jongno-gu, </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Seoul, Republic of Korea 03155 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="width: 67.5%"><FONT STYLE="font-size: 10pt">Young Joon Park </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Hae Seong Ahn </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">James Kang </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">yjopark@shinkim.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">hseahn@shinkim.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">jameskang@shinkim.com </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">if to the Gebbia Representative:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">John J Gebbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">500 Desota Dr</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fort Lauderdale, FL 33301b</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7.5%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Email:</FONT>&nbsp;</TD>
    <TD STYLE="width: 67.5%"> <FONT STYLE="font-size: 10pt">princhepes@aol.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.9 Interpretation</B>.
When a reference is made in this Agreement to a Section, Article, or Exhibit, such reference shall be to a Section, Article, or Exhibit
of this Agreement unless otherwise indicated. The headings contained in this Agreement or in any Exhibit are for convenience of reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. All words used in this Agreement will be
construed to be of such gender or number as the circumstances require. Any capitalized terms used in any Exhibit but not otherwise defined
therein shall have the meaning as defined in this Agreement. All Exhibits annexed hereto or referred to herein are hereby incorporated
in and made a part of this Agreement as if set forth herein. The word &ldquo;including&rdquo; and words of similar import when used in
this Agreement will mean &ldquo;including, without limitation,&rdquo; unless otherwise specified. The words &ldquo;hereof,&rdquo; &ldquo;herein&rdquo;
and &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to
any particular provision in this Agreement. The term &ldquo;or&rdquo; is not exclusive. The word &ldquo;will&rdquo; shall be construed
to have the same meaning and effect as the word &ldquo;shall.&rdquo; References to days mean calendar days unless otherwise specified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.10 Entire
Agreement; Assignment</B>. This Agreement constitutes the full and entire understanding and agreement between the Parties with respect
to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the Parties
are expressly canceled, superseded by this Agreement and merged herein. This Agreement shall not be assigned (whether pursuant to a merger,
by operation of law or otherwise) by any Party without the prior express written consent of the other Parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.11 Parties
in Interest; Successors and Assigns</B>. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party
other than the Parties or their respective successors and assigns any rights, remedies, obligations or Liabilities under or by reason
of this Agreement, except as expressly provided in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.12 Governing
Law</B>. This Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles that
would result in the application of any law other than the law of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.13 Consent
to Jurisdiction</B>. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT
WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK, NEW YORK. EACH PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION
OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE OF PROCESS UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF
PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS STATED HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS
BEEN GIVEN PURSUANT TO <U>SECTION 4.8</U> AND SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.14 Specific
Enforcement</B>. The Parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in
accordance with the terms hereof, and, accordingly, that the Parties hereto shall, to the fullest extent permitted by applicable Law,
be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms
and provisions hereof (including the Parties&rsquo; obligation to consummate the First Tranche) in the courts of the State of New York
or, if that court does not have jurisdiction, any federal court located in the State of New York or any other New York state court without
proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity as expressly permitted
in this Agreement. Each of the Parties hereto hereby further waives, to the fullest extent permitted by applicable Law, (a) any defense
in any action for specific performance that a remedy at law would be adequate and (b) any requirement under any Law to post security or
a bond as a prerequisite to obtaining equitable relief.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.15 Severability</B>.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that
any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that original
intent of the Parties is carried out to the fullest extent possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.16 Waiver
of Jury Trial</B>. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.17 Counterparts</B>.
This Agreement may be executed in more than one counterpart, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.18 Conflict</B>.
If at any time it becomes apparent that there is any inconsistency between the provision of this Agreement (on the one part) and the Company
Organizational Documents or agreements to which the Company is party (on the other part), the Company shall cause the Company Organizational
Documents and agreements to be revised to be consistent with this Agreement and to give effect to this Agreement, unless not permitted
under the applicable laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>SIEBERT FINANCIAL CORP.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-size: 10pt">Andrew Reich</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>KAKAOPAY CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>THE GEBBIA REPRESENTATIVE</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Gebbia Stockholders Signature Pages Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Page to Stockholders&rsquo; Agreement</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties
have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>GEBBIA STOCKHOLDER:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Name)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Signature)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Name and Title of Signatory)</FONT></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>Signature Page to Stockholders&rsquo; Agreement</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Schedule I<BR>
Gebbia Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Gloria Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Richard Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John M. Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">David Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Kimberly Gebbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John &amp; Gloria Gebbia Living Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.39
<SEQUENCE>13
<FILENAME>ea177556ex10-39_siebert.htm
<DESCRIPTION>REGISTRATION RIGHTS AND LOCK-UP AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.39</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">FINAL FORM</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGISTRATION RIGHTS AND LOCK-UP AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS REGISTRATION RIGHTS AND
LOCK-UP AGREEMENT (this &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Agreement</I></B></FONT>&rdquo;), dated
as of [&#9679;], 2023, is made and entered into by and among Siebert Financial Corp., a New York corporation (the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Company</I></B></FONT>&rdquo;),
Kakaopay Corporation, a company established under the laws of the Republic of Korea (the &ldquo;<U>Purchaser</U>&rdquo;), and the undersigned
parties listed under Holders on the signature pages hereto (each such party, collectively with the Purchaser and any person or entity
who hereafter becomes a party to this Agreement pursuant to <U>Section&nbsp;5.3</U>, the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Holders</I></B></FONT>&rdquo;
and each, a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Holder</I></B></FONT>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Company
and the Purchaser have entered into the First Tranche Stock Purchase Agreement, dated as of April 27, 2023 (as amended or supplemented
from time to time, the &ldquo;<U>First Tranche Agreement</U>&rdquo;), pursuant to which the Purchaser has purchased certain shares of
Common Stock, $0.01 par value per share, of the Company (&ldquo;<U>Common Stock</U>&rdquo;) on the terms and conditions set forth therein
(the &ldquo;<U>First Tranche</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Company
and the Purchaser have entered into the Second Tranche Stock Purchase Agreement, dated as of April 27, 2023 (as amended or supplemented
from time to time, the &ldquo;<U>Second Tranche Agreement</U>&rdquo; and together with the First Tranche Agreement, the &ldquo;<U>Stock
Purchase Agreements</U>&rdquo;), pursuant to which the Purchaser shall purchase certain additional shares of Common Stock on the terms
and conditions set forth therein (the &ldquo;<U>Second Tranche</U>&rdquo; and, together with the First Tranche and the other transactions
contemplated thereby, the &ldquo;<U>Transactions</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, to induce
the Purchaser to consummate the Transactions, the Company has agreed to grant the Holders certain registration rights with respect to
certain securities of the Company, as set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><U>DEFINITIONS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.1 <U>Definitions</U>.
The terms defined in this <U>Article&nbsp;I</U> shall, for all purposes of this Agreement, have the respective meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Addendum Agreement</B>&rdquo;
shall have the meaning given in <U>Section&nbsp;5.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Adverse
Disclosure</B></FONT>&rdquo; shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer or the Chief Financial Officer of the Company, after consultation with counsel to the Company,
(a)&nbsp;would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement
or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein (in the case of any Prospectus and any preliminary Prospectus, in the light of the circumstances under which they were
made) not misleading, (b)&nbsp;would not be required to be made at such time if the Registration Statement were not being filed, declared
effective or used, as the case may be, (c)&nbsp;the Company has a bona fide business purpose for not making such information public,
and (d) such disclosure (i) would be reasonably likely to have an adverse impact on the Company, (ii) could reasonably be expected to
have a material adverse effect on the Company&rsquo;s ability to effect a material proposed acquisition, disposition, financing, reorganization,
recapitalization or similar transaction or (iii) relates to information the accuracy of which has yet to be determined by the Company
or which is the subject of an ongoing investigation or inquiry; <U>provided</U> that the Company takes all reasonable action as necessary
to promptly make such determination and conclude such investigation or inquiry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Affiliated Entity</B>&rdquo;
shall have the meaning given in Section 2.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Agreement</B></FONT>&rdquo;
shall have the meaning given in the Preamble hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Block
Trade</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.5.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Board</B>&rdquo;
shall mean the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Closing</B></FONT>&rdquo;
shall have the meaning given in the First Tranche Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Closing
Date</B></FONT>&rdquo; shall have the meaning given in the First Tranche Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Commission</B></FONT>&rdquo;
shall mean the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Common
Stock</B></FONT>&rdquo; shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Company</B></FONT>&rdquo;
shall have the meaning given in the Preamble hereto and includes the Company&rsquo;s successors by recapitalization, merger, consolidation,
spin-off, reorganization or other similar transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Demand
Reimbursement</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.6</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Demanding
Holder</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Effectiveness Deadline</B>&rdquo;
shall have the meaning given in <U>Section&nbsp;2.1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Exchange
Act</B></FONT>&rdquo; shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, as may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>First Tranche</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>First Tranche Agreement</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Form
S-1 Shelf</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Form
S-3 Shelf</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Holder</B>&rdquo;
or &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Holders</B></FONT>&rdquo; shall have the meaning given in the Preamble
hereto, for so long as such person or entity holds any Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Holder
Information</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;4.1.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Legend Removal Date</B>&rdquo;
shall have the meaning given in <U>Section 3.7</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Legend Removal Request</B>&rdquo;
shall have the meaning given in <U>Section 3.7</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Lock-Up Period</B>&rdquo;
shall have the meaning given in <U>Section 2.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Lock-Up Securities</B>&rdquo;
shall have the meaning given in <U>Section 2.4.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Maximum
Number of Securities</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Minimum
Takedown Threshold</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Misstatement</B></FONT>&rdquo;
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light
of the circumstances under which they were made) not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Other Coordinated
Offering</B>&rdquo; shall have the meaning given in <U>Section&nbsp;2.5.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Piggyback
Registration</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.2.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Prospectus</B></FONT>&rdquo;
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Purchaser</B>&rdquo;
shall have the meaning given in the Preamble hereto and includes the Purchaser&rsquo;s successors by recapitalization, merger, consolidation,
spin-off, reorganization or other similar transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Registrable
Security</B></FONT>&rdquo; shall mean (a)&nbsp;any shares of Common Stock issued or issuable to a Holder pursuant to the terms of the
Stock Purchase Agreements, (b) any shares of Common Stock or any other security (including any security issued or issuable upon the exercise
or conversion of any such security) of the Company acquired by a Holder following the date hereof and (c) any other security of the Company
or any of its subsidiaries issued or issuable with respect to any securities referenced in the foregoing clauses (a) and (b) by way of
a stock dividend, stock split or other distribution, or in connection with a recapitalization, merger, consolidation, spin-off, reorganization
or other similar transaction; <U>provided</U>, <U>however</U>, that, as to any particular Registrable Security, such securities shall
cease to be Registrable Securities upon the earliest to occur of: (i)&nbsp;a Registration Statement with respect to the sale of such
securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or
exchanged in accordance with such Registration Statement by the applicable Holder; (ii)&nbsp;such securities shall have been otherwise
transferred, new certificates for such securities not bearing (or book entry positions not subject to) a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration under the
Securities Act; or (iii)&nbsp;such securities shall have ceased to be outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Registration</B></FONT>&rdquo;
shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, Prospectus
or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder,
and such registration statement becoming effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Registration
Expenses</B></FONT>&rdquo; shall mean the documented, out-of-pocket expenses of a Registration, including, without limitation, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(A) all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority,
Inc. (FINRA)) and any national securities exchange on which the Common Stock are then listed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for the Underwriters
in connection with blue sky qualifications of Registrable Securities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(C) printing,
messenger, telephone and delivery expenses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(D) reasonable
fees and disbursements of counsel for the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(E) reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(F) in
an Underwritten Offering, reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding
Holders (not to exceed $75,000 without the consent of the Company);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(G) the
costs and expenses of Company relating to analyst and investor presentations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(H) or
any &ldquo;road show&rdquo; undertaken in connection with the Registration and/or marketing of the Registrable Securities; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(I) any
other fees and disbursements customarily paid by the issuers of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Registration
Statement</B></FONT>&rdquo; shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements
to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Requesting
Holders</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Second Tranche</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Second Tranche Agreement</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Securities
Act</B></FONT>&rdquo; shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder, as may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Shelf</B></FONT>&rdquo;
shall mean the Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration Statement, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>S</I>helf
Registration</B></FONT>&rdquo; shall mean a registration of securities pursuant to a registration statement filed with the Commission
in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Shelf
Takedown</B></FONT>&rdquo; shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement,
including a Piggyback Registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Stock Purchase Agreements</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Subsequent
Shelf Registration Statement</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Transactions</B>&rdquo;
shall have the meaning given in the Recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Transfer</B></FONT>&rdquo;
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with respect
to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or
(c) public announcement of any intention to effect any transaction specified in clause&nbsp;(a) or (b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Underwriter</B></FONT>&rdquo;
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer&rsquo;s market-making activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Underwritten
Offering</B></FONT>&rdquo; shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment
underwriting for distribution to the public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Underwritten
Shelf Takedown</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B>Withdrawal
Notice</B></FONT>&rdquo; shall have the meaning given in <U>Section&nbsp;2.1.6</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><U>REGISTRATIONS AND OFFERINGS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.1 <U>Shelf
Registration</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.1 <U>Filing</U>.
As soon as practicable, but in any event within thirty (30) calendar days, after the expiration of the Lock-Up Period, the Company shall
submit to or file with the Commission a Registration Statement for a Shelf Registration on Form S-3 (&ldquo;<U>Form S-3 Shelf</U>&rdquo;)
covering the resale of all the Registrable Securities on a delayed or continuous basis and shall use its commercially reasonable efforts
to have such Shelf declared effective as soon as practicable after the filing thereof, but no later than the earlier of (a) the sixtieth
(60<SUP>th</SUP>) calendar day (or ninetieth (90<SUP>th</SUP>) calendar day if the Commission notifies the Company that it will &ldquo;review&rdquo;
the Registration Statement) following the Closing and (b) the tenth (10<SUP>th</SUP>) business day after the date the Company is notified
(orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be &ldquo;reviewed&rdquo; or will
not be subject to further review (such earlier date, the &ldquo;<U>Effectiveness Deadline</U>&rdquo;); <U>provided</U>, <U>however</U>,
that if such Effectiveness Deadlines falls on a Saturday, Sunday or other day that the SEC is closed for business, the Effectiveness Deadlines
shall be extended to the business day on which the SEC is open for business. Such Shelf shall provide for the resale of the Registrable
Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named
therein. The Company shall maintain a Shelf in accordance with the terms hereof and shall prepare and file with the Commission such amendments,
including post-effective amendments, and supplements as may be necessary to keep a Shelf continuously effective, available for use to
permit the Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions of the Securities
Act until such time as there are no longer any Registrable Securities. In the event the Company is ineligible to use a Form S-3 Shelf
and files a Registration Statement for a Shelf Registration on Form S-1 (&ldquo;<U>Form S-1 Shelf</U>&rdquo;) to satisfy its obligations
hereunder, the Company shall use its commercially reasonable efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration
Statement) to a Form S-3 Shelf as soon as practicable after the Company is eligible to use a Form S-3 Shelf. The Company&rsquo;s obligation
under this <U>Section&nbsp;2.1.1</U>, shall, for the avoidance of doubt, be subject to <U>Section&nbsp;3.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.2 <U>Subsequent
Shelf Registration</U>. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities
are still outstanding, the Company shall, subject to <U>Section&nbsp;3.4</U>, use its commercially reasonable efforts to as promptly as
is reasonably practicable cause such Shelf to again become effective under the Securities Act (including using its commercially reasonable
efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable
efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any
order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Subsequent
Shelf Registration Statement</I></B></FONT>&rdquo;) registering the resale of all Registrable Securities. If a Subsequent Shelf Registration
Statement is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration Statement
to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the
Subsequent Shelf Registration Statement shall be an automatic shelf registration statement (as defined in Rule 405 promulgated under the
Securities Act) if the Company is a well-known seasoned issuer at the time of filing (as defined in Rule 405 promulgated under the Securities
Act) at the most recent applicable eligibility determination date) and (ii)&nbsp;keep such Subsequent Shelf Registration Statement continuously
effective, available for use to permit the Holders named therein to sell their Registrable Securities included therein and in compliance
with the provisions of the Securities Act until such time as there are no longer any Registrable Securities. Any such Subsequent Shelf
Registration Statement shall be on Form S-3 to the extent that the Company is eligible to use such form at the time of filing. Otherwise,
such Subsequent Shelf Registration Statement shall be on another appropriate form. The Company&rsquo;s obligation under this <U>Section&nbsp;2.1.2</U>,
shall, for the avoidance of doubt, be subject to <U>Section&nbsp;3.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.3 <U>Additional
Registrable Securities</U>. Subject to <U>Section&nbsp;3.4</U>, in the event that any Holder holds Registrable Securities that are not
registered for resale on a delayed or continuous basis, the Company, upon written request of such Holder, shall promptly use its commercially
reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at the Company&rsquo;s option, any then
available Shelf (including by means of a post-effective amendment) or by filing a Subsequent Shelf Registration Statement and cause the
same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration Statement shall be subject
to the terms hereof; <U>provided</U>, <U>however</U>, that the Company shall only be required to cause such additional Registrable Securities
to be so covered twice per calendar year for each of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.4 <U>Requests
for Underwritten Shelf Takedowns</U>. Subject to <U>Section&nbsp;3.4</U>, at any time and from time to time when an effective Shelf is
on file with the Commission and only after the expiration of the Lock-Up Period, one or more Holders (any such Holder being in such case,
a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Demanding Holder</I></B></FONT>&rdquo;) may request to sell all
or any portion of its Registrable Securities in an Underwritten Offering that is registered pursuant to the Shelf (each, an &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Underwritten
Shelf Takedown</I></B></FONT>&rdquo;); <U>provided</U> that the Company shall only be obligated to effect an Underwritten Shelf Takedown
if such offering shall include Registrable Securities proposed to be sold by the Demanding Holder, either individually or together with
other Demanding Holders, with a total offering price of at least $10.0 million in the aggregate (the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Minimum
Takedown Threshold</I></B></FONT>&rdquo;); <U>provided</U> that, with respect to all remaining Registrable Securities held by the Demanding
Holder no Minimum Takedown Threshold shall apply. All requests for Underwritten Shelf Takedowns shall be made by giving written notice
to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown.
Subject to <U>Section&nbsp;2.5.4</U>, a majority-in-interest of the Demanding Holders shall have the right to select the Underwriters
for such offering (which shall consist of one or more reputable nationally recognized investment banks), subject to the Company&rsquo;s
prior approval (which shall not be unreasonably withheld, conditioned or delayed). The Holders may demand not more than two (2) Underwritten
Shelf Takedowns pursuant to this <U>Section&nbsp;2.1.4</U> within any six (6) month period. For the avoidance of doubt, the Company shall
not be required to effect an aggregate of more than four (4) Underwritten Shelf Takedowns pursuant to this <U>Section&nbsp;2.1.4</U> in
any twelve (12) month period. Notwithstanding anything to the contrary in this Agreement, the Company may effect any Underwritten Offering
pursuant to any then effective Registration Statement, including a Form S-3, that is then available for such offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.5 <U>Reduction
of Underwritten Offering</U>. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the
Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such Underwritten
Shelf Takedown (the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Requesting Holders</I></B></FONT>&rdquo;) (if
any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any)
desire to sell, taken together with all other Common Stock or other equity securities that the Company desires to sell and all other Common
Stock or other equity securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written
contractual piggy-back registration rights held by any other stockholders, exceeds the maximum dollar amount or maximum number of equity
securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Maximum Number of Securities</I></B></FONT>&rdquo;), then the
Company shall include in such Underwritten Offering, before including any Common Stock or other equity securities proposed to be sold
by Company or by other holders of Common Stock or other equity securities, the Registrable Securities of (i) first, the Demanding Holders
that can be sold without exceeding the Maximum Number of Securities (pro rata based on the respective number of Registrable Securities
that each Demanding Holder has requested be included in such Underwritten Shelf Takedown and the aggregate number of Registrable Securities
that all of the Demanding Holders have requested be included in such Underwritten Shelf Takedown) and (ii) second, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clause&nbsp;(i), the Requesting Holders (if any) (pro rata based
on the respective number of Registrable Securities that each Requesting Holder (if any) has requested be included in such Underwritten
Shelf Takedown and the aggregate number of Registrable Securities that all of the Requesting Holders have requested be included in such
Underwritten Shelf Takedown) that can be sold without exceeding the Maximum Number of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.6 <U>Withdrawal</U>.
Prior to the filing of the applicable &ldquo;red herring&rdquo; Prospectus or Prospectus supplement used for marketing such Underwritten
Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have the right to withdraw
from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Withdrawal
Notice</I></B></FONT>&rdquo;) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Underwritten
Shelf Takedown; <U>provided</U> that the remaining Demanding Holders may elect to have the Company continue an Underwritten Shelf Takedown
if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten Shelf
Takedown by such Demanding Holders. If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an Underwritten
Shelf Takedown by the withdrawing Demanding Holder for purposes of <U>Section&nbsp;2.1.4</U>, unless such Demanding Holder reimburses
the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown (or, if there is more than one Demanding Holder,
a pro rata portion of such Registration Expenses based on the respective number of Registrable Securities that each Demanding Holder requested
be included in such Underwritten Shelf Takedown) (a &ldquo;<U>Demand Reimbursement</U>&rdquo;); <U>provided</U> that, if any Demanding
Holder elects to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such Underwritten
Shelf Takedown shall instead count as an Underwritten Shelf Takedown for purposes of <U>Section&nbsp;2.1.4</U>. Following the receipt
of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate
in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with a Shelf Takedown prior to its withdrawal under this <U>Section&nbsp;2.1.6</U>, other than if a Demanding
Holder elects to pay such Registration Expenses pursuant to a Demand Reimbursement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2 <U>Piggyback
Registration</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.1 <U>Piggyback
Rights</U>. Subject to <U>Section&nbsp;2.5.3</U>, if the Company or any Holder proposes to conduct a registered offering of, or if the
Company proposes to file a Registration Statement under the Securities Act with respect to the Registration of, equity securities, or
securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the
account of stockholders of the Company (or by the Company and by the stockholders of the Company including, without limitation, an Underwritten
Shelf Takedown pursuant to <U>Section&nbsp;2.1</U>), other than a Registration Statement (or any registered offering with respect thereto)
(i)&nbsp;filed in connection with any employee stock option or other benefit plan, (ii)&nbsp;pursuant to a Registration Statement on Form
S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii)&nbsp;for
an offering of debt that is convertible into equity securities of the Company, (iv)&nbsp;for a dividend reinvestment plan, or (v) a Block
Trade or an Other Coordinated Offering (which shall be subject to <U>Section&nbsp;2.5</U>), then the Company shall give written notice
of such proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before
the anticipated filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to a Shelf Registration,
the applicable &ldquo;red herring&rdquo; Prospectus or Prospectus supplement used for marketing such offering, which notice shall (A)&nbsp;describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed
managing Underwriter or Underwriters, if any, in such offering, and (B)&nbsp;offer to all of the Holders of Registrable Securities the
opportunity to include in such registered offering such number of Registrable Securities as such Holders may request in writing within
five (5) days after receipt of such written notice (such registered offering, a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Piggyback
Registration</I></B></FONT>&rdquo;). Except with respect to an Underwritten Shelf Takedown under <U>Section&nbsp;2.1.4</U>, the rights
provided under this <U>Section&nbsp;2.2.1</U> shall not be available to any Holder at such time as there is an effective Shelf available
for the resale of the Registrable Securities pursuant to <U>Section&nbsp;2.1</U>. Subject to <U>Section&nbsp;2.2.2</U>, the Company shall,
in good faith, cause such Registrable Securities to be included in such Piggyback Registration and, if applicable, shall use its commercially
reasonable efforts to cause the managing Underwriter or Underwriters of such Piggyback Registration to permit the Registrable Securities
requested by the Holders pursuant to this <U>Section&nbsp;2.2.1</U> to be included therein on the same terms and conditions as any similar
securities of the Company included in such registered offering and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. The inclusion of any Holder&rsquo;s Registrable Securities in a Piggyback
Registration shall be subject to such Holder&rsquo;s agreement to enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.2 <U>Reduction
of Piggyback Registration</U>. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback Registration,
in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that
the dollar amount or number of Common Stock or other equity securities that the Company desires to sell, taken together with (i)&nbsp;Common
Stock or other equity securities, if any, as to which Registration or a registered offering has been demanded pursuant to separate written
contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii)&nbsp;the Registrable
Securities as to which registration has been requested pursuant to <U>Section&nbsp;2.2</U> hereof, and (iii) Common Stock or other equity
securities, if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual piggy-back
registration rights of persons or entities other than the Holders of Registrable Securities hereunder, exceeds the Maximum Number of Securities,
then:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a) if
the Registration or registered offering is undertaken for the Company&rsquo;s account, the Company shall include in any such Registration
or registered offering (A)&nbsp;first, Common Stock or other equity securities that the Company desires to sell, which can be sold without
exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clause&nbsp;(A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities
pursuant to <U>Section&nbsp;2.2.1</U>, pro rata, based on the respective number of Registrable Securities that each Holder has requested
be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to be included
in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clauses&nbsp;(A) and (B), the Common Stock or other equity securities,
if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual piggy-back registration
rights of persons or entities other than the Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum
Number of Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b) if
the Registration or registered offering is pursuant to a demand by persons or entities other than the Holders of Registrable Securities,
then the Company shall include in any such Registration or registered offering (A) first, the Common Stock or other equity securities,
if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding
the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause&nbsp;(A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to <U>Section&nbsp;2.2.1</U>,
pro rata, based on the respective number of Registrable Securities that each Holder has requested be included in such Underwritten Offering
and the aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten Offering, which
can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses&nbsp;(A) and (B), the Common Stock or other equity securities that the Company desires to sell,
which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses&nbsp;(A), (B) and (C), the Common Stock or other equity securities, if any, as to which
Registration or a registered offering has been requested pursuant to separate written contractual piggy-back registration rights of persons
or entities other than the Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum Number of Securities;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c) if
the Registration or registered offering and Underwritten Shelf Takedown is pursuant to a request by Holder(s) of Registrable Securities
pursuant to <U>Section&nbsp;2.1</U> hereof, then the Company shall include in any such Registration or registered offering securities
in the priority set forth in <U>Section&nbsp;2.1.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.3 <U>Piggyback
Registration Withdrawal</U>. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw from an Underwritten
Shelf Takedown, and related obligations, shall be governed by <U>Section&nbsp;2.1.6</U>) shall have the right to withdraw from a Piggyback
Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of
his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed
with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant to a Shelf Registration,
the filing of the applicable &ldquo;red herring&rdquo; Prospectus or Prospectus supplement with respect to such Piggyback Registration
used for marketing such transaction. The Company (whether on its own good faith determination or as the result of a request for withdrawal
by persons or entities pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission
in connection with a Piggyback Registration (which, in no circumstance, shall include a Shelf) at any time prior to the effectiveness
of such Registration Statement. Notwithstanding anything to the contrary in this Agreement (other than <U>Section&nbsp;2.1.6</U> with
respect to a Demand Reimbursement), the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback
Registration prior to its withdrawal under this <U>Section&nbsp;2.2.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.4 <U>Unlimited
Piggyback Registration Rights</U>. For purposes of clarity, subject to <U>Section&nbsp;2.1.6</U>, any Piggyback Registration effected
pursuant to <U>Section&nbsp;2.2</U> hereof shall not be counted as a demand for an Underwritten Shelf Takedown under <U>Section&nbsp;2.1.4</U>
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.3 <U>Market
Stand-off</U>. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade or Other Coordinated
Offering), if requested by the managing Underwriters, each Holder that is an executive officer or director or Holder (and for which it
is customary for such Holder to agree to a lock-up), agrees that, to the extent such Holder participates in such Underwritten Offering,
it shall not Transfer any Common Stock or other equity securities of the Company (other than those included in such offering pursuant
to this Agreement), without the prior written consent of the Company, during the ninety (90) day period (or such shorter time agreed to
by the managing Underwriters), beginning on the date of pricing of such offering, except as expressly permitted by such lock-up agreement
or in the event the managing Underwriters otherwise agree by written consent. Each such Holder agrees to execute a customary lock-up agreement
in favor of the Underwriters to such effect (in each case on substantially the same terms and conditions as all such Holders).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.4
<U>Lock-Up.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.1 Each
Holder agrees that, it, he or she will not during the period commencing on the date hereof through the earlier of (i) the Outside Date,
as defined in, and as may be extended in accordance with, the Second Tranche Agreement, or (ii) the date that the Second Tranche Agreement
is terminated (collectively, the &ldquo;<U>Lock-Up Period</U>): (i) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer
or dispose of, directly or indirectly, any Common Stock (collectively, the &ldquo;<U>Lock-Up Securities</U>&rdquo;); (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up
Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Lock-Up Securities, in
cash or otherwise; or (iii) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction,
swap, hedge or other arrangement relating to any Lock-Up Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.2 Notwithstanding
the foregoing, and subject to the conditions below, each Holder may transfer Lock-Up Securities without the prior written consent of the
Company in connection with (i) any transfers of Lock-Up Securities to a corporation, partnership, limited liability company, investment
fund or other business entity that controls or manages, is controlled or managed by or is under common control or management with such
Holder (an &ldquo;<U>Affiliated Entity</U>&rdquo;) and (ii) the transfer of Lock-Up Securities pursuant to a bona fide third party tender
offer, merger, consolidation or other similar transaction made to all holders of the Common Stock involving a change of control (as defined
below) of the Company after the date hereof and approved by the Company&rsquo;s board of directors; provided that in the event that the
tender offer, merger, consolidation or other such transaction is not completed, the Lock-Up Securities owned by each Holder shall remain
subject to the restrictions contained in this lock-up agreement. For purposes of clause (ii) above, &ldquo;change of control&rdquo; shall
mean the consummation of any bona fide third party tender offer, merger, amalgamation, consolidation or other similar transaction the
result of which is that any &ldquo;person&rdquo; (as defined in Section 13(d)(3) of the Exchange Act), or group of persons, becomes the
beneficial owner (as defined in Rules 13d-3 and 13d- 5 of the Exchange Act) of a majority of total voting power of the voting stock of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.3 If
any transfer not permitted under this <U>Section 2.4</U> is made or attempted contrary to the provisions of this Agreement, such purported
prohibited transfer shall be null and void ab initio, and the Company shall refuse to recognize any such purported transferee as one of
its equity holders for any purpose. In order to enforce this <U>Section 2.4</U>, the Company may impose stop-transfer instructions with
respect to the Lock-Up Securities of each Holder until the end of the Lock-Up Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.4 During
the Lock-Up Period, each certificate or book-entry position evidencing any Lock-Up Securities held by a Lock-Up Holder shall be marked
with a legend in substantially the following form, in addition to any other applicable legends:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">&ldquo;THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A REGISTRATION RIGHTS AND LOCK-UP AGREEMENT, DATED AS OF [X], 2023, BY AND
AMONG THE ISSUER OF SUCH SECURITIES AND THE REGISTERED HOLDER OF THE SHARES. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE
BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.5 For
the avoidance of doubt, each Lock-Up Holder shall retain all of its rights as a stockholder of the Company with respect to the Lock-Up
Securities it holds during the Lock-Up Period, including the right to vote any such Lock-Up Securities that are entitled to vote. The
Company agrees that upon the expiration of the Lock-Up Period, it shall take all actions necessary to cause its transfer agent to remove
the legend set forth in <U>Section 2.4.4</U> from all Lock-Up Securities, including, but not limited to, causing its legal counsel, at
the Company&rsquo;s expense, to deliver the necessary legal opinions, if any, to the Company&rsquo;s transfer agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5 <U>Block
Trades; Other Coordinated Offerings</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5.1 Notwithstanding
any other provision of this <U>Article&nbsp;II</U>, but subject to <U>Section&nbsp;3.4</U>, at any time and from time to time when an
effective Shelf is on file with the Commission, if a Demanding Holder wishes to engage in (a) an underwritten registered offering not
involving a &ldquo;roadshow,&rdquo; an offer commonly known as a &ldquo;block trade&rdquo; (a &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Block
Trade</I></B></FONT>&rdquo;), or (b) an &ldquo;at the market&rdquo; or similar registered offering through a broker, sales agent or distribution
agent, whether as agent or principal (an &ldquo;<U>Other Coordinated Offering</U>&rdquo;), in each case, (x) with a total offering price
of at least $10.0 million in the aggregate&nbsp;or (y) with respect to&nbsp;all remaining Registrable Securities held by the Demanding
Holder, then such Demanding Holder only needs to notify the Company of the Block Trade or Other Coordinated Offering at least five (5)
business days prior to the day such offering is to commence and the Company shall use its commercially reasonable efforts to facilitate
such Block Trade or Other Coordinated Offering; <U>provided</U> that the Demanding Holders representing a majority of the Registrable
Securities wishing to engage in the Block Trade or Other Coordinated Offering shall use commercially reasonable efforts to work with the
Company and any Underwriters, brokers, sales agents or placement agents prior to making such request in order to facilitate preparation
of the Registration Statement, Prospectus and other offering documentation related to the Block Trade or Other Coordinated Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5.2 Prior
to the filing of the applicable &ldquo;red herring&rdquo; Prospectus or Prospectus supplement used in connection with a Block Trade or
Other Coordinated Offering, a majority-in-interest of the Demanding Holders initiating such Block Trade or Other Coordinated Offering
shall have the right to submit a Withdrawal Notice to the Company, the Underwriter or Underwriters (if any) and any brokers, sales agents
or placement agents (if any) of their intention to withdraw from such Block Trade or Other Coordinated Offering. Notwithstanding anything
to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Block
Trade or Other Coordinated Offering prior to its withdrawal under this <U>Section&nbsp;2.5.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5.3 Notwithstanding
anything to the contrary in this Agreement, <U>Section&nbsp;2.2</U> shall not apply to a Block Trade or Other Coordinated Offering initiated
by a Demanding Holder pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5.4 The
Demanding Holder in a Block Trade or Other Coordinated Offering shall have the right to select the Underwriters and any brokers, sales
agents or placement agents (if any) for such Block Trade or Other Coordinated Offering (in each case, which shall consist of one or more
reputable nationally recognized investment banks).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5.5 A
Demanding Holder in the aggregate may demand no more than (i) one (1) Block Trade pursuant to this <U>Section&nbsp;2.5</U> within any
six (6) month period or (ii) two (2) Block Trades or Other Coordinated Offerings pursuant to this <U>Section&nbsp;2.5</U> in any twelve
(12) month period. For the avoidance of doubt, any Block Trade or Other Coordinated Offering effected pursuant to this <U>Section&nbsp;2.5</U>
shall not be counted as a demand for an Underwritten Shelf Takedown pursuant to <U>Section&nbsp;2.1.4</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
III</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><U>COMPANY PROCEDURES</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1 <U>General
Procedures</U>. In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect
such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and
pursuant thereto the Company shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.1 prepare
and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use its commercially
reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered
by such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement
or have ceased to be Registrable Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.2 prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be reasonably requested by any Holder of the Registrable Securities registered on such Registration Statement or any
Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the registration form
used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all
Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution set forth
in such Registration Statement or supplement to the Prospectus or have ceased to be Registrable Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.3 prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders&rsquo; legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such Holders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.4 notify
each seller of Registrable Securities promptly after it receives notice of the time when the Registration Statement has been declared
effective and when any post-effective amendments and supplements thereto become effective;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.5 furnish
counsel for the Underwriter(s), if any, and upon written request, for the sellers of the Registrable Securities in such Registration Statement
with copies of any written comments from the SEC or any written request by the SEC for amendments or supplements to a Registration Statement
or Prospectus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.6 prior
to any public offering of Registrable Securities, use best efforts to (i) register or qualify the Registrable Securities covered by the
Registration Statement under such securities or &ldquo;blue sky&rdquo; laws of such jurisdictions in the United States as the Holders
of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may request (or provide
evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification) and (ii) take
such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by
such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other
acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement
to consummate the disposition of such Registrable Securities in such jurisdictions; <U>provided</U>, <U>however</U>, that the Company
shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take
any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise
so subject;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.7 cause
all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the Company are
then listed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.8 provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of
such Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.9 advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding
for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal
if such stop order should be issued;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.10 at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus, including any document that is to be incorporated by reference into such Registration Statement or Prospectus
(or such shorter period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange Act, and the rules and
regulations promulgated under the Securities Act or Exchange Act, as applicable or (b) advisable in order to reduce the number of days
that sales are suspended pursuant to <U>Section&nbsp;3.4</U>), furnish, upon request, a copy thereof to each seller of such Registrable
Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference
therein);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.11 notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act,
of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in <U>Section&nbsp;3.4</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.12 in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering, or sale by a broker, placement agent or sales agent
pursuant to such Registration, in each of the following cases to the extent customary for a transaction of its type, permit a representative
of the Holders, the Underwriters or other financial institutions facilitating such Underwritten Offering, Block Trade, Other Coordinated
Offering or other sale pursuant to such Registration, if any, and any attorney, consultant or accountant retained by such Holders or Underwriter
to participate, at each such person&rsquo;s or entity&rsquo;s own expense, in the preparation of the Registration Statement, and cause
the Company&rsquo;s officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter,
financial institution, attorney, consultant or accountant in connection with the Registration; <U>provided</U>, <U>however</U>, that such
representatives, Underwriters or financial institutions agree to confidentiality arrangements in form and substance reasonably satisfactory
to the Company, prior to the release or disclosure of any such information;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.13 obtain
a &ldquo;comfort&rdquo; letter from the Company&rsquo;s independent registered public accountants in the event of an Underwritten Offering,
a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent pursuant to such Registration (subject
to such broker, placement agent or sales agent providing such certification or representation reasonably requested by the Company&rsquo;s
independent registered public accountants and the Company&rsquo;s counsel) in customary form and covering such matters of the type customarily
covered by &ldquo;comfort&rdquo; letters for a transaction of its type as the managing Underwriter may reasonably request, and reasonably
satisfactory to a majority-in-interest of the participating Holders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.14 in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent
pursuant to such Registration, on the date the Registrable Securities are delivered for sale pursuant to such Registration, to the extent
customary for a transaction of its type, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such
Registration, addressed to the participating Holders, the broker, placement agents or sales agent, if any, and the Underwriters, if any,
covering such legal matters with respect to the Registration in respect of which such opinion is being given as the participating Holders,
broker, placement agent, sales agent or Underwriter may reasonably request and as are customarily included in such opinions and negative
assurance letters;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.15 in
the event of any Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent
pursuant to such Registration, enter into and perform its obligations under an underwriting or other purchase or sales agreement, in usual
and customary form, with the managing Underwriter or the broker, placement agent or sales agent of such offering or sale;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.16 make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
months beginning with the first day of the Company&rsquo;s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section&nbsp;11(a) of the Securities Act and Rule 158 thereunder (or any successor rule then in effect);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.17 with
respect to an Underwritten Offering pursuant to <U>Section&nbsp;2.1.4</U>, use its commercially reasonable efforts to make available senior
executives of the Company to participate in customary &ldquo;road show&rdquo; presentations that may be reasonably requested by the Underwriter
in such Underwritten Offering; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.18 otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating Holders,
consistent with the terms of this Agreement, in connection with such Registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the Company shall
not be required to provide any documents or information to an Underwriter, broker, sales agent or placement agent if such Underwriter,
broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering
involving a registration as an Underwriter, broker, sales agent or placement agent, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.2 <U>Registration
Expenses</U>. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the
Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters&rsquo; commissions
and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of &ldquo;Registration Expenses,&rdquo;
all reasonable fees and expenses of any legal counsel representing the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.3 <U>Requirements
for Participation in Registration Statement in Offerings</U>. Notwithstanding anything in this Agreement to the contrary, if any Holder
does not provide the Company with its requested Holder Information, the Company may exclude such Holder&rsquo;s Registrable Securities
from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel, that it is necessary
or advisable to include such information in the applicable Registration Statement or Prospectus and such Holder continues thereafter to
withhold such information. In addition, no person or entity may participate in any Underwritten Offering or other offering for equity
securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person or entity (i)&nbsp;agrees to
sell such person&rsquo;s or entity&rsquo;s securities on the basis provided in any underwriting, sales, distribution or placement arrangements
approved by the Company and (ii)&nbsp;completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements,
underwriting or other agreements and other customary documents as may be reasonably required under the terms of such underwriting, sales,
distribution or placement arrangements. For the avoidance of doubt, the exclusion of a Holder&rsquo;s Registrable Securities as a result
of this <U>Section&nbsp;3.3</U> shall not affect the registration of the other Registrable Securities to be included in such Registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.4 <U>Suspension
of Sales; Adverse Disclosure; Restrictions on Registration Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.4.1 Upon
receipt of written notice from the Company that: (a) a Registration Statement or Prospectus contains a Misstatement; (b) any request by
the Commission for any amendment or supplement to any Registration Statement or Prospectus or for additional information or of the occurrence
of an event requiring the preparation of a supplement or amendment to such Prospectus so that, as thereafter delivered to the purchasers
of the securities covered by such Registration Statement or Prospectus, such Registration Statement or Prospectus will not contain an
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading; or (c) upon any suspension by the Company, pursuant to a written insider trading compliance program adopted by
the Board, of the ability of all &ldquo;insiders&rdquo; covered by such program to transact in the Company&rsquo;s securities because
of the existence of material non-public information, each of the Holders shall forthwith discontinue disposition of Registrable Securities
pursuant to such Registration Statement covering such Registrable Securities until (x) in the case of (a) or (b), it has received copies
of a supplemented or amended Prospectus (it being understood that the Company hereby covenants to prepare and file such supplement or
amendment as soon as reasonably practicable after the time of such notice), or until it is advised in writing by the Company that the
use of the Prospectus may be resumed, or (y) in the case of (c), until the restriction on the ability of &ldquo;insiders&rdquo; to transact
in the Company&rsquo;s securities is removed, and, if so directed by the Company, each such Holder will deliver to the Company all copies,
other than permanent file copies then in such Holder&rsquo;s possession, of the most recent Prospectus covering such Registrable Securities
at the time of receipt of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.4.2 Subject
to <U>Section&nbsp;3.4.4</U>, if the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration
at any time would (a)&nbsp;require the Company to make an Adverse Disclosure, (b)&nbsp;require the inclusion in such Registration Statement
of financial statements that are unavailable to the Company for reasons beyond the Company&rsquo;s control, or (c)&nbsp;in the good faith
judgment of the majority of the Board such Registration, be detrimental to the Company and the majority of the Board concludes as a result
that it is advisable to defer such filing, initial effectiveness or continued use at such time, the Company may, upon giving prompt written
notice of such action to the Holders (which notice shall not specify the nature of the event giving rise to such delay or suspension),
delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time determined
in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under this <U>Section&nbsp;3.4.2</U>,
each Holder agrees to suspend, immediately upon its receipt of the notice referred to above, its use of the Prospectus relating to any
Registration in connection with any sale or offer to sell Registrable Securities until such Holder receives written notice from the Company
that such sales or offers of Registrable Securities may be resumed, and in each case maintain the confidentiality of such notice and its
contents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.4.3 Subject
to <U>Section&nbsp;3.4.4</U>, (a)&nbsp;during the period starting with the date sixty (60) days prior to the Company&rsquo;s good faith
estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company-initiated
Registration and provided that the Company continues to actively employ, in good faith, all commercially reasonable efforts to maintain
the effectiveness of the applicable Shelf Registration, or (b)&nbsp;if, pursuant to <U>Section&nbsp;2.1.4</U>, Holders have requested
an Underwritten Shelf Takedown and the Company and Holders are unable to obtain the commitment of underwriters to firmly underwrite such
offering, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant
to <U>Section&nbsp;2.1.4</U> or <U>2.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.4.4 The
right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to <U>Section&nbsp;3.4.2</U>
or a registered offering pursuant to <U>Section&nbsp;3.4.3</U> shall be exercised by the Company, in the aggregate, for not more than
sixty (60) consecutive calendar days and not more than twice for not more than one hundred and twenty (120) total calendar days, during
any twelve (12)-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.5 <U>Reporting
Obligations</U>. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company
under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period)
all reports required to be filed by the Company after the date hereof pursuant to Sections&nbsp;13(a) or&nbsp;15(d) of the Exchange Act
and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly filed or furnished
with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System (EDGAR) shall be deemed to have been furnished
or delivered to the Holders pursuant to this <U>Section&nbsp;3.5</U>. The Company further covenants that it shall take such further action
as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock
held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated
under the Securities Act (or any successor rule then in effect). Upon the request of any Holder, the Company shall deliver to such Holder
a written certification of a duly authorized officer as to whether it has complied with such requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.6 <U>Rule
144</U>. With a view to make available to the Holders the benefits of Rule 144 promulgated under the Securities Act, the Company covenants
that it will (a) make available at all times information necessary to comply with Rule 144, if such Rule is available with respect to
resales of the Registrable Securities under the Securities Act, and (b) take such further action as the Holders may reasonably request,
all to the extent required from time to time to enable them to sell all Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144 (if available with respect to resales of the Registrable Securities),
as such rule may be amended from time to time. Upon request of any Holder, the Company will deliver to such Holder a written statement
as to whether the Company has complied with such information requirement, and, if not, the specific reasons for non-compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.7 <U>Legend
Removal</U>. Certificates (or book entry positions) evidencing the Registrable Securities shall not contain any legend (including any
legend set forth in the Stock Purchase Agreements): (i) while a Registration Statement is effective under the Securities Act, (ii) following
any sale of such Registrable Securities pursuant to Rule 144 promulgated under the Securities Act, (iii) while such Registrable Securities
are eligible for sale without restriction under Rule 144 or (iv) if such legend is not required under applicable requirements of the Securities
Act (including judicial interpretations and pronouncements issued by the Commission). The Company shall cause its counsel to issue any
legal opinion or instruction required by the Company&rsquo;s transfer agent to comply with the requirements set forth in this <U>Section
3.7</U>. At such time as a legend is no longer required for Registrable Securities under this <U>Section 3.7</U>, the Company will, no
later than two (2) business days following the delivery by a Holder to the Company or the Company&rsquo;s transfer agent of (i) a certificate
representing such Registrable Securities containing the legend or, (ii) if such Registrable Securities are uncertificated, a written request
to remove the legend from the applicable book entry position (each of the foregoing clauses (i) and (ii), a &ldquo;<U>Legend Removal Request</U>&rdquo;
and such second business day following a Legend Removal Request, the &ldquo;<U>Legend Removal Date</U>&rdquo;), deliver or cause to be
delivered to such Holder a certificate (or book entry position statement) representing such Registrable Securities that is free from such
removed legend. In addition to any other remedies available to such Holder, the Company shall pay to such Holder, in cash, as partial
liquidated damages and not as a penalty, for each $1,000 of Registrable Securities included in a Legend Removal Request (based on the
volume-weighted average price of the Common Stock or other applicable security on the date of the Legend Removal Request), $5.00 per trading
day for each trading day after the Legend Removal Date until such Registrable Securities are delivered without the removed legend, provided
that such Holder has furnished to the Company and its legal counsel standard and customary documentation required to facilitate removal
of the legend, satisfactory to the Company&rsquo;s legal counsel, acting reasonably.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
IV</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><U>INDEMNIFICATION AND CONTRIBUTION</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.1 <U>Indemnification</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.1 The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities and such Holder&rsquo;s officers, directors,
managers, directors, trustees, equityholders, beneficiaries, affiliates and agents and each person or entity who controls such Holder
(within the meaning of the Securities Act), against all losses, claims, damages, liabilities and out-of-pocket expenses (including, without
limitation, reasonable and documented outside attorneys&rsquo; fees or other expenses incurred in connection with investigating or defensing
such claim, loss, liability, damage or action) resulting from (i) any untrue or alleged untrue statement of material fact contained in
or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, or (ii) any violation or alleged violation by the Company of the Securities Act or any other similar federal or state
securities law except insofar as the same are caused by or contained in any information or affidavit so furnished in writing to the Company
by such Holder expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors and each person or
entity who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with
respect to the indemnification of the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.2 In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish (or
cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus (the &ldquo;<FONT STYLE="font-variant: normal; text-transform: none"><B><I>Holder Information</I></B></FONT>&rdquo;)
and, to the extent permitted by law, shall indemnify the Company and the Company&rsquo;s directors, officers and agents and each person
or entity who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket
expenses (including, without limitation, reasonable and documented outside attorneys&rsquo; fees) resulting from any untrue or alleged
untrue statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading, but only to the extent that such untrue statement is contained in (or not contained
in, in the case of an omission) any information or affidavit so furnished in writing by or on behalf of such Holder expressly for use
therein; <U>provided</U>, <U>however</U>, that the obligation to indemnify shall be several, not joint and several, among such Holders
of Registrable Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the
net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable
Securities shall indemnify the Underwriters, their officers, directors and each person or entity who controls such Underwriters (within
the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.3 Any
person or entity entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person&rsquo;s or entity&rsquo;s
right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in
such indemnified party&rsquo;s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist
with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to
the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled
to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all
parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party
a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim.
No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement
which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms
of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified party
or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party
of a release from all liability in respect to such claim or litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.4 The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive the
transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions
as are reasonably requested by any indemnified party for contribution to such party in the event the Company&rsquo;s or such Holder&rsquo;s
indemnification is unavailable for any reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.5 If
the indemnification provided under <U>Section&nbsp;4.1</U> from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result
of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not
made by, in the case of an omission), or relates to information supplied by (or not supplied by in the case of an omission), such indemnifying
party or indemnified party, and the indemnifying party&rsquo;s and indemnified party&rsquo;s relative intent, knowledge, access to information
and opportunity to correct or prevent such action; <U>provided</U>, <U>however</U>, that the liability of any Holder under this <U>Section&nbsp;4.1.5</U>
shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount
paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the
limitations set forth in <U>Sections&nbsp;4.1.1</U>, <U>4.1.2</U> and <U>4.1.3</U> above, any legal or other fees, charges or out-of-pocket
expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would
not be just and equitable if contribution pursuant to this <U>Section&nbsp;4.1.5</U> were determined by pro rata allocation or by any
other method of allocation, which does not take account of the equitable considerations referred to in this <U>Section&nbsp;4.1.5</U>.
No person or entity guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled
to contribution pursuant to this <U>Section&nbsp;4.1.5</U> from any person or entity who was not guilty of such fraudulent misrepresentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
V</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><U>MISCELLANEOUS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1 <U>Notices</U>.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient&rsquo;s next business day,
(c) five (5) days after having been sent by registered or certified U.S. mail, return receipt requested, postage prepaid, or (d) one (1)
business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with
written verification of receipt. All communications shall be sent to the respective parties at their address as set forth below or such
other address for which notice has been given pursuant to this <U>Section&nbsp;5.1</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Siebert Financial Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">535 Fifth Avenue, 4th Fl.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10017</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="width: 65%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew Reich, CFO</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">areich@siebert.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitchell Silberberg &amp; Knupp, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2049 Century Park East, 18th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Hiraide</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">mth@msk.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">O&rsquo;Melveny &amp; Myers LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2765 Sand Hill Road</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menlo Park, CA 94025-7019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brad Finkelstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Viq Shariff</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>Email:</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">bfinkelstein@omm.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vshariff@omm.com</FONT></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-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to Purchaser:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kakaopay Corporation</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">166 Pangyoyeok-ro, 15th Fl. Tower B, </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bundang-gu, Seongnam-si,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gyeonggi-do, Republic of Korea 13529</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD STYLE="width: 65%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hochul Shin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dongyoup Oh</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">simon.shin121@kakaopaycorp.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dwhy.oh@kakaopaycorp.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With copy to:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greenberg Traurig, LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">One Vanderbilt Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael D. Helsel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jang H. Yeo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Namoury</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">helselm@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yeoj@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adam.namoury@gtlaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shin &amp; Kim LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Young Joon Park</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hae Seong Ahn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Kang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yjopark@shinkim.com </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">hseahn@shinkim.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">jameskang@shinkim.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: -1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If to any other Holder, to
the address set forth under such Holder&rsquo;s signature to this Agreement or to such Holder&rsquo;s address as found in the Company&rsquo;s
books and records.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2 <U>Other
Registration Rights and Arrangements</U>. The Company represents and warrants that no person, other than a Holder, has any right to require
the Company to register any of the Company&rsquo;s securities for sale or to include the Company&rsquo;s securities in any registration
filed by the Company for the sale of securities for its own account or for the account of any other person. The Company shall not hereafter
enter into any agreement with respect to its securities which is inconsistent with or violates the rights granted to the Holders in this
Agreement and in the event of any conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall
prevail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.3 <U>Assignment;
No Third-Party Beneficiaries</U>. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or
delegated by the Company in whole or in part. Subject to <U>Section 2.4</U>, this Agreement and the rights, duties and obligations of
a Holder hereunder may be freely assigned or delegated by such Holder in conjunction with and to the extent of any permitted transfer
of Registrable Securities by any such Holder. This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit
of each of the parties hereto and their respective successors and permitted assigns and the Holders and their respective successors and
permitted assigns. This Agreement shall not confer any rights or benefits on any persons or entities that are not parties hereto, other
than as expressly set forth in <U>Article&nbsp;IV</U> and this <U>Section&nbsp;5.3</U>. Subject to <U>Section 2.4</U>, the rights of a
Holder may be transferred by such a Holder to a transferee who acquires or holds Registrable Securities; <U>provided</U>, <U>however</U>,
that such transferee has executed and delivered to the Company a properly completed agreement to be bound by the terms of this Agreement
substantially in form attached hereto as <U>Exhibit A</U> (an &ldquo;<U>Addendum Agreement</U>&rdquo;), and the transferor shall have
delivered to the Company no later than thirty (30) days following the date of the transfer, written notification of such transfer setting
forth the name of the transferor, the name and address of the transferee, and the number of Registrable Securities so transferred. The
execution of an Addendum Agreement shall constitute a permitted amendment of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.4 <U>Counterparts</U>.
This Agreement may be executed in multiple counterparts (including PDF counterparts), each of which shall be deemed an original, and all
of which together shall constitute the same instrument, but only one of which need be produced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.5 <U>Governing
Law; Venue</U>. This Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles
that would result in the application of any law other than the law of the State of New York. EACH PARTY IRREVOCABLY AGREES THAT ALL ACTIONS
OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN THE COUNTY OF NEW YORK,
NEW YORK. EACH PARTY HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN NEW YORK, NEW YORK, WAIVES PERSONAL SERVICE
OF PROCESS UPON SUCH PARTY, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO SUCH PARTY AT THE ADDRESS
STATED HEREIN OR SUCH OTHER ADDRESS FOR WHICH NOTICE HAS BEEN GIVEN PURSUANT TO <U>SECTION&nbsp;5.1</U> AND SERVICE SO MADE WILL BE DEEMED
TO BE COMPLETED UPON ACTUAL RECEIPT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.6 <U>Waiver
of Jury Trial</U>. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR THE SUBJECT MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING
OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION,
CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS <U>SECTION&nbsp;5.6</U>
HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HEREBY FURTHER
WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.7 <U>Amendments
and Modifications</U>. Upon the written consent of (a)&nbsp;the Company and (b) the Holders of a majority of the total Registrable Securities,
compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions,
covenants or conditions may be amended or modified; <U>provided</U>, <U>however</U>, that notwithstanding the foregoing, any amendment
hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares of capital stock of the Company,
in a manner that is materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected.
No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the
Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or
the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude
the exercise of any other rights or remedies hereunder or thereunder by such party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.8 <U>Term</U>.
This Agreement shall terminate, with respect to any Holder, on the date that such Holder no longer holds any Registrable Securities, and
with respect to the Company, on the date that no Registrable Securities remain outstanding. The provisions of <U>Section&nbsp;3.5</U>
and <U>Article&nbsp;IV</U> shall survive any termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.9 <U>Holder
Information</U>. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities held
by such Holder in order for the Company to make determinations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.10 <U>Severability</U>.
It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent permissible under the
laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this
Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision,
as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity
or enforceability of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. Notwithstanding
the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction,
it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of such provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.11 <U>Entire
Agreement</U>. This Agreement constitutes the full and entire agreement and understanding between the parties with respect to the subject
matter hereof and supersedes all prior agreements and understandings relating to such subject matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.12 <U>Adjustments</U>.
If, and as often as, there are any changes in the Registrable Securities by way of stock split, stock dividend, combination or reclassification,
or through merger, consolidation, reorganization, recapitalization or sale, or by any other means, appropriate adjustment shall be made
in the provisions of this Agreement, as may be required, so that the rights, privileges, duties and obligations hereunder shall continue
with respect to the Registrable Securities as so changed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">[SIGNATURE PAGES
FOLLOW]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>COMPANY:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>SIEBERT</B></FONT><B> <FONT STYLE="font-size: 10pt">FINANCIAL CORP.</FONT></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 60%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Registration Rights and Lock-Up
Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: left"><B>&nbsp;</B></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 0pt 3.5in; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>HOLDERS:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Kakaopay Corporation</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 60%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Registration Rights and Lock-Up
Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Addendum
Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Addendum Agreement (&ldquo;<U>Addendum
Agreement</U>&rdquo;) is executed on __________________, 20___, by the undersigned (the &ldquo;<U>New Holder</U>&rdquo;) pursuant to the
terms of that certain Registration Rights and Lock-Up Agreement, dated as of [&#9679;], 2023 (the &ldquo;<U>Agreement</U>&rdquo;), by
and among the Company and the Holders identified therein, as such Agreement may be amended, supplemented or otherwise modified from time
to time. Capitalized terms used but not defined in this Addendum Agreement shall have the respective meanings ascribed to such terms in
the Agreement. By the execution of this Addendum Agreement, the New Holder agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <U>Acknowledgment</U>.
New Holder acknowledges that New Holder is acquiring certain securities of the Company (the &ldquo;<U>Securities</U>&rdquo;) as a transferee
of such Securities from a party in such party&rsquo;s capacity as a holder of Registrable Securities under the Agreement, and after such
transfer, New Holder shall be considered a &ldquo;Holder&rdquo; and a holder of Registrable Securities for all purposes under the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <U>Agreement</U>.
New Holder hereby (a) agrees that the Securities shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement
with the same force and effect as if the New Holder were originally a party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <U>Notice</U>.
Any notice required or permitted by the Agreement shall be given to New Holder at the address listed below New Holder&rsquo;s signature
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">ACCEPTED AND AGREED:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>NEW HOLDER:</B></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>COMPANY:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>SIEBERT FINANCIAL CORP.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 20%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Address:</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Addendum Agreement]</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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