EXHIBIT 10.2


 


SHAREHOLDER
SUPPORT AGREEMENT AND DEED


 


This SHAREHOLDER SUPPORT AGREEMENT
AND DEED (this “Agreement”) is made and entered into as of May 26, 2022, by and among ECARX Holdings Inc., an
exempted company limited by shares incorporated under the laws of the Cayman Islands (the “Company”), COVA Acquisition
Corp., an exempted company limited by shares incorporated under the laws of the Cayman Islands (“SPAC”), and certain
Persons listed on Schedule A hereto (each, a “Shareholder” and collectively, the “Shareholders”).


 


WHEREAS, capitalized
terms used but not otherwise defined in this Agreement shall have the meanings ascribed thereto in the Agreement and Plan of Merger (the
 “Merger Agreement”) dated as of the date hereof, entered into by and among the Company, Ecarx Temp Limited, an exempted
company limited by shares incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of the Company (“Merger
Sub 1”), Ecarx&Co Limited, an exempted company limited by shares incorporated under the laws of the Cayman Islands and a
direct wholly owned subsidiary of the Company (“Merger Sub 2”), and SPAC, pursuant to which, among other things, (i) Merger
Sub 1 will merge with and into SPAC, with SPAC surviving the First Merger as a wholly owned subsidiary of the Company (the “First
Merger”), and (ii) SPAC will merge with and into Merger Sub 2, with Merger Sub 2 surviving the Second Merger as a wholly
owned subsidiary of the Company (the “Second Merger” and together with the First Merger, collectively, the “Mergers”);


 


WHEREAS, each Shareholder
is, as of the date of this Agreement, the beneficial and sole legal owner of such number of Ordinary Shares and Preferred Shares of the
Company set forth opposite such Shareholder’s name on Schedule A hereto (such Ordinary Shares and Preferred Shares being
collectively referred to herein as the “Owned Shares”; and the Owned Shares and any other Company Shares, Company Ordinary
Shares or any securities convertible into or exercisable or exchangeable for Company Shares or Company Ordinary Shares, as the case may
be, acquired by such Shareholder after the date of this Agreement and during the term of this Agreement, including upon exercise of Company
Options, being collectively referred to herein as the “Subject Shares” of such Shareholder); and


 


WHEREAS, as a condition
to their willingness to enter into the Merger Agreement, the Company and SPAC have requested that the Shareholders enter into this Agreement.


 


NOW, THEREFORE,
in consideration of the premises set forth above, which are incorporated into this Agreement as if fully set forth below, and intending
to be legally bound hereby, the parties hereto agree as follows:


 



     


     


    

 


Article I


 


Representations
and Warranties of THE SHAREHOLDERS


 


Each Shareholder hereby represents and warrants
to the Company and SPAC as follows:


 


Section 1.1             Corporate
Organization. Such Shareholder has been duly formed and is validly existing and in good standing under the Laws of the place of its
incorporation or establishment and has the requisite power and authority to own, lease or operate its assets and properties and to conduct
its business as it is now being conducted.


 


Section 1.2             Due
Authorization. Such Shareholder has all requisite power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated hereby have been duly and validly authorized and no other corporate or equivalent proceeding on the part
of such Shareholder is necessary to authorize the execution and delivery of this Agreement or such Shareholder’s performance hereunder
or to consummate the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by such Shareholder
and, assuming due authorization and execution by each other party hereto, constitutes a legal, valid and binding obligation of such Shareholder,
enforceable against such Shareholder in accordance with its terms, subject to the Enforceability Exceptions.


 


Section 1.3             Governmental
Authorities; Consents. No consent of or with any Governmental Authority on the part of such Shareholder is required to be obtained
or made in connection with the execution, delivery or performance by such Shareholder of this Agreement or the consummation by such Shareholder
of the transactions contemplated hereby, other than (a) applicable requirements, if any, of the Securities Act, the Exchange Act,
and/ or any state “blue sky” securities Laws, and the rules and regulations thereunder and (b) where the failure
to obtain or make such consents or to make such filings or notifications would not reasonably be expected to prevent, impede or, in any
material respect, delay or adversely affect the execution and performance by such Shareholder of its obligations under this Agreement
or the consummation of the transactions contemplated hereby.


 


Section 1.4             No-Conflict.
The execution, delivery and performance by such Shareholder of this Agreement do not and will not (a) contravene or conflict with
or violate any provision of, or result in the breach of the Organizational Documents of such Shareholder, (b) contravene or conflict
with or result in a violation of any provision of any Law or Governmental Order binding upon or applicable to such Shareholder or any
of its properties or assets, (c) violate, conflict with, result in a breach of any provision of or the loss of any benefit under,
constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or result in the termination
or acceleration of, or a right of termination, cancellation, modification, acceleration or amendment under, accelerate the performance
required by, any of the terms, conditions or provisions of any Contract to which such Shareholder is a party, or (d) result in the
creation or imposition of any Encumbrance on any properties or assets of such Shareholder, except in the case of each of clauses (b) through
(d) that do not, and would not reasonably be expected to, prevent, impede or, in any material respect, delay or adversely affect
the performance by such Shareholder of its obligations under this Agreement or the consummation of the transactions contemplated hereby.


 



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Section 1.5             Owned
Shares. Such Shareholder is the beneficial and sole legal owner of the Owned Shares, and all such Owned Shares are owned by such Shareholder
free and clear of all liens or encumbrances, other than liens or encumbrances pursuant to this Agreement, the other Transaction Documents,
the Organizational Documents of the Company, the Investors Rights Agreement and any applicable securities Laws. Such Shareholder does
not legally or beneficially own any shares of the Company other than the Owned Shares. Such Shareholder has the sole right to vote the
Owned Shares (to the extent such securities have voting rights), and none of the Owned Shares is subject to any voting trust or other
agreement, arrangement or restriction with respect to the voting of the Owned Shares, except as contemplated by this Agreement, the Investors
Rights Agreement and the Company Charter.


 


Section 1.6             Acknowledgement.
Such Shareholder understands and acknowledges that each of the Company and SPAC is entering into the Merger Agreement in reliance upon
such Shareholder’s execution and delivery of this Agreement. Such Shareholder has received a copy of the Merger Agreement and is
familiar with the provisions of the Merger Agreement.


 


Section 1.7             Absence
of Litigation. As of the date hereof, there is no action, suit, investigation or proceeding pending against, or, to the knowledge
of such Shareholder, threatened against, such Shareholder or any of such Shareholder’s properties or assets (including such Shareholder’s
Owned Shares) that could reasonably be expected to prevent, delay or impair the ability of such Shareholder to perform its obligations
hereunder or to consummate the transactions contemplated hereby.


 


Section 1.8             Adequate
Information. Such Shareholder is a sophisticated shareholder and has adequate information concerning the business and financial condition
of SPAC and the Company to make an informed decision regarding this Agreement and the transactions contemplated by the Merger Agreement
and has independently and without reliance upon SPAC or the Company and based on such information as such Shareholder has deemed appropriate,
made its own analysis and decision to enter into this Agreement. Such Shareholder acknowledges that SPAC and the Company have not made
and do not make any representation or warranty, whether express or implied, of any kind or character except as expressly set forth in
this Agreement. Such Shareholder acknowledges that the agreements contained herein with respect to the Subject Shares held by such Shareholder
are irrevocable and shall only terminate pursuant to Section 5.2 hereof.


 


Section 1.9             Restricted
Securities. Such Shareholder understands that the Company Ordinary Shares to be held by it immediately following the consummation
of the Mergers will be “restricted securities” under applicable U.S. federal and state securities Laws and, if such Shareholder
is an affiliate of the Company, “control securities” as such term is used under Rule 144 promulgated under the Securities
Act, and that, pursuant to these Laws, such Shareholder may be required to hold such Company Ordinary Shares indefinitely unless (a) they
are registered with the SEC and qualified by state authorities, or (b) an exemption from such registration and qualification requirements
is available, and that any certificates or book entries representing the Company Ordinary Shares shall contain a legend to such effect.


 



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Article II


 


Representations
and Warranties of SPAC


 


SPAC hereby represents and warrants to the Company
and each Shareholder as follows:


 


Section 2.1             Corporate
Organization. SPAC is an exempted company duly incorporated, validly existing and in good standing under the Laws of the Cayman Islands
and has the requisite corporate power and authority to own, lease or operate its assets and properties and to conduct its business as
it is now being conducted.


 


Section 2.2             Due
Authorization. SPAC has all requisite corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated hereby have been duly and validly authorized and approved by the board of directors of SPAC and no other
corporate or equivalent proceeding on the part of SPAC is necessary to authorize the execution and delivery of this Agreement or SPAC’s
performance hereunder or to consummate the transactions contemplated hereby (except that the SPAC Shareholders’ Approval is a condition
to the respective obligations of each party to the Merger Agreement to consummate the Mergers). This Agreement has been duly and validly
executed and delivered by SPAC and, assuming due authorization and execution by each other party hereto, constitutes a legal, valid and
binding obligation of SPAC, enforceable against SPAC in accordance with its terms, subject to the Enforceability Exceptions.


 


Section 2.3             No-Conflict.
Subject to obtaining the SPAC Shareholders’ Approval, the execution, delivery and performance by SPAC of this Agreement and the
consummation of the transactions by SPAC contemplated hereby do not and will not (a) contravene or conflict with or violate any provision
of, or result in the breach of the Organizational Documents of SPAC, (b) contravene or conflict with or result in a violation of
any provision of any Law, Permit or Governmental Order binding upon or applicable to SPAC or any of its properties or assets, (c) violate,
conflict with, result in a breach of any provision of or the loss of any benefit under, constitute a default (or an event which, with
notice or lapse of time or both, would constitute a default) under, or result in the termination or acceleration of, or a right of termination,
cancellation, modification, acceleration or amendment under, accelerate the performance required by, any of the terms, conditions or provisions
of any Contract to which SPAC is a party, or (d) result in the creation or imposition of any Encumbrance upon any of the properties
or assets of SPAC (including the Trust Account), except in the case of each of clauses (b) through (d) that do not, and would
not reasonably be expected to prevent, impede or, in any material respect, delay or adversely affect the performance by SPAC of its obligations
under this Agreement or the consummation of the transactions contemplated hereby.


 



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Article III


 


Representations
and Warranties of the Company


 


The Company hereby represents and warrants to
SPAC and each Shareholder as follows:


 


Section 3.1             Corporate
Organization. The Company is an exempted company duly incorporated, is validly existing and is in good standing under the Laws of
the Cayman Islands and has the requisite corporate power and authority to own, lease or operate its assets and properties and to conduct
its business as it is now being conducted.


 


Section 3.2             Due
Authorization. The Company has the requisite corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated hereby have been duly authorized by the Company Board, and no other corporate proceeding on the part
of the Company is necessary to authorize this Agreement or the Company’s performance hereunder (except that the Company Shareholders’
Approval is a condition to the respective obligations of each party to the Merger Agreement to consummate of the Transactions). This Agreement
has been duly and validly executed and delivered by the Company and, assuming due and valid authorization, execution and delivery by each
other party hereto, constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its
terms, subject to the Enforceability Exceptions.


 


Section 3.3             No-Conflict.
The execution, delivery and performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not and will not, (a) contravene or conflict with, violate any provision of, trigger shareholder rights that have not been
duly waived under, or result in the breach of the Organizational Documents of the Company or any of its Subsidiaries, (b) contravene
or conflict with or constitute a violation of any provision of any Law, Material Permit or Governmental Order binding upon or applicable
to the Company or any of its Subsidiaries or any of their respective properties or assets, (c) violate, conflict with, result in
a breach of any provision of or the loss of any benefit under, constitute a default (or an event which, with notice or lapse of time or
both, would constitute a default) under, or result in the termination or acceleration of, or a right of termination, cancellation, modification,
acceleration or amendment under, accelerate the performance required by, any of the terms, conditions or provisions of any Contracts to
which the Company is a party, or (d) result in the creation or imposition of any Encumbrance on any properties or assets or Equity
Security of the Company or any of its Subsidiaries (other than any Permitted Encumbrance), except in the case of clauses (b) through
(d) above that do not, and would not reasonably be expected to, prevent, impede or, in any material respect, delay or adversely affect
the performance by the Company of its obligations under this Agreement or the consummation of the transactions contemplated hereby.


 



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Article IV


 


Agreement
to Vote; Certain Other Covenants of THE ShareholderS


 


Each Shareholder covenants and agrees during the
term of this Agreement as follows:


 


Section 4.1             Agreement
to Vote.


 


(a)            In
Favor of the Company Shareholders’ Approval. From the date of this Agreement until the date of termination of this Agreement,
at any meeting of the Company Shareholders called to seek the Company Shareholders’ Approval, including any extraordinary general
meeting (as defined in the Company Charter), or at any adjournment thereof or postponement thereof, or in connection with any written
consent of the Company Shareholders or in any other circumstances upon which a vote, consent or other approval with respect to the Transactions,
the Merger Agreement or any other Transaction Documents is sought, such Shareholder shall (i) if a meeting is held, appear at such
meeting in person or by proxy or otherwise cause the Subject Shares to be counted as present at such meeting for purposes of establishing
a quorum, and (ii) vote or cause to be voted (including by proxy, withholding class vote and/or written consent, if applicable)
the Subject Shares in favor of granting the Company Shareholders’ Approval or, if there are insufficient votes in favor of granting
the Company Shareholders’ Approval, in favor of the adjournment or postponement of such meeting of the Company Shareholders to
a later date.


 


(b)            Against
Other Transactions. From the date of this Agreement until the date of termination of this Agreement, at any meeting of the Company
Shareholders or at any adjournment or postponement thereof, or in connection with any written consent of the Company Shareholders or in
any other circumstances upon which such Shareholder’s vote, consent or other approval is sought, such Shareholder shall (i) if
a meeting is held, appear at such meeting in person or by proxy or otherwise cause the Subject Shares to be counted as present at such
meeting for purposes of establishing a quorum, (ii) vote (or cause to be voted) the Subject Shares (including by proxy, withholding
class vote and/or written consent, if applicable) against (w) any business combination agreement, merger agreement or merger, scheme
of arrangement, business combination, consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution,
liquidation or winding up of or by the Company or any public offering of any Equity Securities of the Company (other than the Merger Agreement
and the Transactions), (x) other than in connection with the Transactions, any Company Acquisition Proposal, (y) allowing the
Company to execute or enter into, any agreement related to a Company Acquisition Proposal other than in connection with the Transactions,
and (z) any amendment of Organizational Documents of the Company or entering into any agreement or agreement in principle or other
proposal or transaction involving the Company or any of its Subsidiaries, which amendment, agreement or other proposal or transaction
would be reasonably likely to in any material respect impede, interfere with, delay or attempt to discourage, frustrate the purposes of,
result in a breach by the Company of, prevent or nullify any provision of the Merger Agreement or any other Transaction Document, the
Transactions or change in any manner the voting rights of any class of the Company’s share capital.


 



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(c)            Revoke
Other Proxies. Such Shareholder represents and warrants that any proxies or powers of attorney heretofore given in respect of the
Subject Shares that may still be in effect are not irrevocable, and such proxies or powers of attorney have been or are hereby revoked.


 


Section 4.2             No
Transfer. From the date of this Agreement until the date of termination of this Agreement, such Shareholder shall not, directly or
indirectly, (i) (a) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option, right or warrant
to purchase or otherwise transfer, dispose of or agree to transfer or dispose of, directly or indirectly, or establish or increase a put
equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, and
the rules and regulations of the SEC promulgated thereunder, with respect to any Subject Share, (b) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Subject Shares, whether
any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) publicly announce any intention
to effect any transaction specified in clause (a) or (b) (the actions specified in clauses (a) to (c), collectively,
 “Transfer”), (ii) grant any proxies or powers of attorney or enter into any voting arrangement, whether by proxy,
voting agreement, voting trust, voting deed or otherwise (including pursuant to any loan of Subject Shares), or enter into any other agreement,
with respect to any Subject Shares, in each case, other than as set forth in this Agreement or any Transaction Documents, (iii) take
any action that would reasonably be expected to make any representation or warranty of such Shareholder herein untrue or incorrect, or
would reasonably be expected to have the effect of preventing or disabling such Shareholder from performing its obligations hereunder,
or (iv) commit or agree to take any of the foregoing actions. Notwithstanding the foregoing, such Shareholder may make Transfers
of the Subject Shares (x) pursuant to this Agreement, (y) upon the consent of the Company and SPAC, and (z) by virtue of
such Shareholder’s Organizational Documents upon liquidation or dissolution of such Shareholder; provided, further,
that in the case of clause (z), the transferee will not be required to assume voting obligations if the transferee’s assumption
of such obligations would violate any applicable Laws, including any securities Laws, or would reasonably be expected to materially delay
or impede the Registration Statement or Proxy Statement being declared effective under the Securities Act. Any action attempted to be
taken in violation of the preceding sentence will be null and void.


 


Section 4.3             Waiver
of Anti-Dilution Protection. Such Shareholder hereby waives, and agrees not to exercise, assert or claim, to the fullest extent permitted
by applicable Law, the anti-dilution protection pursuant to the Company Charter in connection with the Transactions.


 



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Section 4.4             No
Redemption. Such Shareholder irrevocably and unconditionally agrees that, from the date hereof and until the termination of this Agreement,
such Shareholder shall not elect to cause the Company to redeem any Subject Shares now or at any time legally or beneficially owned by
such Shareholder, or submit or surrender any of its Subject Shares for redemption, in each case pursuant to the Company Charter.


 


Section 4.5             New
Securities. In the event that prior to the Closing (i) any Company Shares or other securities are issued or otherwise distributed
to such Shareholder, including, without limitation, pursuant to any share dividend or distribution, or any change occurs in any of the
Company Shares or other share capital of the Company by reason of any share subdivision, recapitalization, combination, reverse share
split, consolidation, exchange of shares or the like, (ii) such Shareholder acquires legal or beneficial ownership of any Company
Shares after the date of this Agreement, including upon exercise of options, or (iii) such Shareholder acquires the right to vote
or share in the voting of any Company Shares after the date of this Agreement (collectively, the “New Securities”),
the term “Subject Shares” shall be deemed to refer to and include such New Securities (including all such share dividends
and distributions and any securities into which or for which any or all of the Subject Shares may be changed or exchanged into).


 


Section 4.6             Shareholders’
Consent, Authorization or Approval. Each Shareholder hereby irrevocably agrees and confirms that, insofar as such Shareholder’s
consent, authorization or approval is required in respect of or in connection with the transactions contemplated by the Merger Agreement
and the other Transaction Documents, including without limitation, the matters as set out in items (c) and (e) of Part I
and item (a) of Part IV of Exhibit B of the Investors Rights Agreement and as may be required by Article 18 (Variation
of Rights of Shares), Article 137 (Amendment of the Memorandum and Articles) and Section 4.3.1 of Schedule A (Protective
Provisions) of the Company Charter, such Shareholder hereby grants, provides and gives such consent, authorization or approval, and
all specific resolutions that may be required to have been adopted by such Shareholder or class of shareholders in connection with the
transactions contemplated by the Merger Agreement and the other Transaction Documents are hereby deemed adopted and approved by such Shareholder.
To the extent a director appointed by such Shareholder will not serve as a director of the Company after the Closing, upon request of
the Company, such Shareholder shall deliver a notice to the Company to remove such director or cause such director to execute and deliver
a resignation letter to the Company providing for such director’s resignation from the board of directors of the Company at the
First Effective Time.


 


Section 4.7             Existing
Investors Rights Agreement. Each of the Shareholders and the Company hereby agrees that, in accordance with the terms thereof, (i) the
Investors Rights Agreement, (ii) any rights of such Shareholder under the Investors Rights Agreement (including, for the avoidance
of doubt, any registration rights of such Shareholder with respect to any Company Shares thereunder) and (iii) any rights under any
other agreement providing for redemption rights, put rights, purchase rights or other similar rights not generally available to the shareholders
of the Company, shall be terminated effective as of the First Effective Time, and thereupon shall be of no further force or effect, without
any further action on the part of any of the Shareholders or the Company, and neither the Company, the Shareholders, nor any of their
respective affiliates or subsidiaries shall have any further rights, duties, liabilities or obligations thereunder and each Shareholder
and the Company hereby releases in full any and all claims with respect thereto with effect on and from the First Effective Time.


 



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Section 4.8             Additional
Matters. Each Shareholder shall, from time to time, (i) execute and deliver, or cause to be executed and delivered, such additional
or further consents, documents and other instruments as the Company or SPAC may reasonably request for the purpose of effectively consummating
the transactions contemplated by this Agreement, the Merger Agreement and the other Transaction Documents and (ii) refrain from exercising
any veto right, consent right or similar right (whether under the Organizational Documents of the Company or the Cayman Companies Act)
which would prevent, impede or, in any material respect, delay or adversely affect the consummation of the Transactions.


 


Section 4.9             Acquisition
Proposals; Confidentiality. Such Shareholder shall be bound by and comply with Section 5.5 (Acquisition Proposals and Alternative
Transactions) and Section 10.14 (Confidentiality) of the Merger Agreement (and any relevant definitions contained in any
such sections) as if (a) such Shareholder was an original signatory to the Merger Agreement with respect to such provisions, and
(b) each reference to “the Company” contained in Section 5.5 of the Merger Agreement and “Affiliates”
contained in Section 10.14 of the Merger Agreement shall also refer to such Shareholder.


 


Section 4.10           Lock-Up
Provisions.


 


(a)            Subject
to the exceptions set forth herein, during the applicable Lock-Up Period (as defined below), such Shareholder agrees not to, without the
prior written consent of the Company Board, Transfer any Locked-Up Shares held by it. The foregoing limitations shall remain in full force
and effect for a period of six (6) months from and after the Closing (such period, the “Lock-Up Period”) with
respect to all the Locked-Up Shares. For purpose of this Section 4.10, “Locked-Up Shares” means any Company Ordinary
Shares that are held by such Shareholder immediately after the First Effective Time and any Company Ordinary Shares acquired by such Shareholder
upon the exercise of Company Options.


 


(b)           The
restrictions set forth in Section 4.10(a) (the “Lock-Up Restrictions”) shall not apply to:


 


(i)            transfers
by such Shareholder to (A) any shareholder, partner or member of such Shareholder via dividend or share repurchase as part of a distribution,
or (B) any Person that is an affiliate of such Shareholder;


 


(ii)           transfers
by virtue of the Laws of the state of such Shareholder’s organization and such Shareholder’s Organizational Documents upon
dissolution of such Shareholder;


 



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(iii)          pledges
of any Locked-Up Shares to a financial institution that create a mere security interest in such Locked-Up Shares pursuant to a bona fide
loan or indebtedness transaction so long as such Shareholder continues to control the exercise of the voting rights of such pledged Locked-Up
Shares (as well as any foreclosures on such pledged Locked-Up Shares so long as the transferee in such foreclosure agrees to become a
party to this Agreement and be bound by all obligations applicable to such Shareholder, provided that such agreement shall only
take effect in the event that the transferee takes possession of the Locked-Up Shares as a result of foreclosure);


 


(iv)          transfers
of any Company Ordinary Shares acquired as part of the Permitted Financing or Subsequent Equity Financing;


 


(v)           transactions
relating to Company Ordinary Shares or other securities convertible into or exercisable or exchangeable for Company Ordinary Shares acquired
in open market transactions after the Closing, provided that no such transaction is required to be, or is, publicly announced (whether
on Form 4, Form 5 or otherwise, other than a required filing on Schedule 13F, 13G or 13G/A) during the applicable Lock-Up Period;


 


(vi)          the
exercise of any options to purchase Company Ordinary Shares (which exercises may be effected on a cashless basis to the extent the instruments
representing such options or warrants permit exercises on a cashless basis);


 


(vii)         transfers
to the Company to satisfy tax withholding obligations pursuant to the Company’s equity incentive plans or arrangements;


 


(viii)        the
establishment, at any time after the Closing, by a Shareholder of a trading plan providing for the sale of Company Ordinary Shares that
meets the requirements of Rule 10b5-1(c) under the Exchange Act (a “Trading Plan”); provided, however,
that no sales of Locked-Up Shares, shall be made by such Shareholder pursuant to such Trading Plan during the applicable Lock-Up Period
and no public announcement or filing is voluntarily made regarding such plan during the applicable Lock-Up Period; and


 


(ix)          transfers
made in connection with a liquidation, merger, share exchange or other similar transaction that results in all of the Company’s
shareholders having the right to exchange their Company Ordinary Shares for cash, securities or other property subsequent to the Closing
Date;


 


provided, however, that in the case of
clauses (i) through (iv), these permitted transferees must enter into a written agreement, in substantially the form of this
Agreement, agreeing to be bound by the Lock-Up Restrictions and shall have the same rights and benefits under this Agreement. For purposes
of this paragraph, “affiliate” shall have the meaning set forth in Rule 405 under the Securities Act of 1933, as amended.


 



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(c)            For
the avoidance of doubt, such Shareholder shall retain all of its rights as a shareholder of the Company during the Lock-Up Period, including
the right to vote any Locked-Up Shares or receive any dividends or distributions thereon.


 


(d)            In
furtherance of the foregoing, the Company, and any duly appointed transfer agent for the registration or transfer of the Locked-Up Securities,
are hereby authorized to decline to make any transfer of securities if such Transfer would constitute a violation or breach of the Lock-Up
Restrictions.


 


Article V


 


General
Provisions


 


Section 5.1             Mutual
Release.


 


(a) Shareholder
Release. Such Shareholder, on its own behalf and on behalf of each of its Affiliates (other than the Company or any of the
Company’s Subsidiaries) and each of its and their successors, assigns and executors (each, a “Shareholder
Releasor”), effective as at the First Effective Time, shall be deemed to have, and hereby does, irrevocably,
unconditionally, knowingly and voluntarily release, waive, relinquish and forever discharge the Company, SPAC, their respective
Subsidiaries and each of their respective successors, assigns, heirs, executors, officers, directors, partners, managers and
employees (in each case in their capacity as such) (each, a “Shareholder Releasee”), from (x) any and all
obligations or duties the Company, SPAC or any of their respective Subsidiaries has prior to or as of the First Effective Time to
such Shareholder Releasor or (y) all claims, demands, Liabilities, defenses, affirmative defenses, setoffs, counterclaims,
actions and causes of action of whatever kind or nature, whether known or unknown, which any Shareholder Releasor has prior to or as
of the First Effective Time, against any Shareholder Releasee arising out of, based upon or resulting from any Contract,
transaction, event, circumstance, action, failure to act or occurrence of any sort or type, whether known or unknown, and which
occurred, existed, was taken, permitted or begun prior to the First Effective Time (except in the event of fraud on the part of a
Shareholder Releasee); provided, however, that nothing contained in this Section 5.1 shall release, waive,
relinquish, discharge or otherwise affect the rights or obligations of any party (i) arising under this Agreement, the Merger
Agreement, the other Transaction Documents or the Company’s Organizational Documents, (ii) for indemnification or
contribution, in any Shareholder Releasor’s capacity as an officer or director of the Company, (iii) arising under any
then-existing insurance policy of the Company, or (iv) for any claim for fraud.


 



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(b)            Company
Release. Each of the Company, SPAC and their respective Subsidiaries and each of its and their successors, assigns and executors (each,
a “Company Releasor”), effective as at the First Effective Time, shall be deemed to have, and hereby does, irrevocably,
unconditionally, knowingly and voluntarily release, waive, relinquish and forever discharge such Shareholder and its respective successors,
assigns, heirs, executors, officers, directors, partners, members, managers and employees (in each case in their capacity as such) (each,
a “Company Releasee”), from (x) any and all obligations or duties such Company Releasee has prior to or as of
the First Effective Time to such Company Releasor or (y) all claims, demands, Liabilities, defenses, affirmative defenses, setoffs,
counterclaims, actions and causes of action of whatever kind or nature, whether known or unknown, which any Company Releasor has, may
have or might have or may assert now or in the future, against any Company Releasee arising out of, based upon or resulting from any Contract,
transaction, event, circumstance, action, failure to act or occurrence of any sort or type, whether known or unknown, and which occurred,
existed, was taken, permitted or begun prior to the First Effective Time (except in the event of fraud on the part of a Company Releasee);
provided, however, that nothing contained in this Section 5.1(b) shall release, waive, relinquish, discharge
or otherwise affect the rights or obligations of any party (i) arising under this Agreement, the Merger Agreement or the other Transaction
Documents or (ii) for any claim for fraud.


 


Section 5.2             Termination.
This Agreement shall terminate upon the earlier of:


 


(a)            the
Closing, provided, however, that upon such termination, (i)  Section 4.8, this Section 5.1,
Section 5.4 and Section 5.7 shall survive indefinitely; and (ii) Section 4.10 and Section 5.3
shall survive until the date on which none of the Company, such Shareholder or any holder of a Locked-Up Share (as defined below) has
any rights or obligations hereunder; and


 


(b)           the
termination of the Merger Agreement in accordance with its terms, and upon such termination, no party shall have any liability hereunder
other than for its actual fraud or willful and material breach of this Agreement prior to such termination.


 


Section 5.3             Legends.
The Company shall remove, and shall cause to be removed (including by causing its transfer agent to remove), any legends, marks, stop-transfer
instructions or other similar notations pertaining to the lock-up arrangements herein from the book-entries evidencing any Locked-Up Shares
at the time any such share is no longer subject to the Lock-Up Restrictions (any such Locked-Up Share, a “Free Share”),
and shall take all such actions (and shall cause to be taken all such actions) necessary or proper to cause the Free Shares to be consolidated
under the CUSIP(s) and/or ISIN(s) applicable to the unrestricted Company Ordinary Shares so that the Free Shares are in a like
position. Any holder of a Locked-Up Share is an express third-party beneficiary of this Section 5.3 and entitled to enforce
specifically the obligations of the Company set forth in this Section 5.3 directly against the Company.


 


Section 5.4             Notice.
All general notices, demands or other communications required or permitted to be given or made hereunder shall be in writing and delivered
personally or sent by courier or sent by registered post or sent by electronic mail to the Company and SPAC in accordance with Section 10.3
of the Merger Agreement and to each Shareholder at its address set forth on Schedule A hereto (or at such other address or email
address as a party may from time to time notify the other parties by like notice).


 



    12


     


    

 


Section 5.5             Entire
Agreement; Amendment. This Agreement constitutes the entire agreement among the parties hereto relating to the subject matter hereof
and the transactions contemplated hereby and supersedes any other agreements, whether written or oral, that may have been made or entered
into by or between the parties hereto or any of their respective Subsidiaries relating to the subject matter hereof or the transactions
contemplated hereby. This Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to
any particular provision, except by a written instrument executed by all parties hereto.


 


Section 5.6             Assignment.
Other than in connection with the Transfer of any Subject Shares or Locked-Up Shares in accordance with the terms of this Agreement, which
shall not be deemed to be an assignment of this Agreement or the rights or obligations hereunder, no party hereto shall assign this Agreement
or any part hereof without the prior written consent of the other parties hereto and any such transfer without prior written consent shall
be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
permitted successors and assigns.


 


Section 5.7             Governing
Law. This Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this Agreement (whether based
on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of this Agreement,
shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the principles of conflicts
of laws that would otherwise require the application of the law of any other state.


 


Section 5.8             Enforcement.
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed
in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled
to seek an injunction or injunctions to prevent breaches of this Agreement and to specific enforcement of the terms and provisions of
this Agreement, in addition to any other remedy to which any party is entitled at law or in equity. In the event that any Action shall
be brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby waives the defense, that
there is an adequate remedy at law, and each party agrees to waive any requirement for the securing or posting of any bond in connection
therewith.


 


Section 5.9             Counterparts
This Agreement may be executed in two or more counterparts (any of which may be delivered by electronic transmission), each of which shall
constitute an original, and all of which taken together shall constitute one and the same instrument. Delivery by email to counsel for
the other parties of a counterpart executed by a party shall be deemed to meet the requirements of the previous sentence.


 


[Signature pages follow]


 



    13


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	COVA Acquisition Corp.	 
	 	 
	By:	 /s/ Jun Hong Heng	 
	Name: Jun Hong Heng	 
	
    Title: Chief Executive Officer

    
	 


 


	In the presence of:	 
	Witness	 
	 	 
	Signature: 	/s/ Karanveer Dhillon	 
	Print Name: Karanveer Dhillon	 


 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	ECARX Holdings Inc.	 
	 	 
	By:	/s/ Ziyu Shen	 
	Name:	 Ziyu Shen	 
	Title:	Director	 



 


	In the presence of:	 
	Witness	 
	 	 
	Signature:	/s/ Xiangru Song	 
	Print Name: 	Xiangru Song	 


 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	Fu&Li Industrious Innovators Limited	 
	 	 
	By:	/s/ Shufu Li	 
	Name: 	Shufu Li	 
	Title:	Director	 



 


	In the presence of:	 
	Witness	 
	 	 
	Signature:	/s/ Weilie Ye	 
	Print Name: 	Weilie Ye	 


 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	Jie&Hao Holding Limited	 
	 	 
	By:	/s/ Ziyu Shen	 
	Name: 	Ziyu Shen

	 
	Title:	Director	 



 


	In the presence of:	 
	Witness	 
	 	 
	Signature:	/s/ Xiangru Song	 
	Print Name: 	Xiangru Song	 


 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    


 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	SHINE LINK VENTURE LIMITED	 
	 	 
	By:	For and on behalf on T Proteus Limited	 
		/s/ Catherine Yim	 
	 	/s/ Edward Gumbley	 
	Name: T Proteus Limited	 
	Title: Director	 
	 	 
	In the presence of:	 
	Witness	 



 
	Signature:	 /s/ Claudia Ng	                                    


Print Name: 
Claudia Ng 



 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	Baidu (Hong Kong) Limited	 
	 	 
	By:	/s/ Herman Yu	 
	Name: Herman Yu	 
	Title: Director	 
	 	 
	In the presence of:	 
	Witness	 



 
	Signature:	 /s/ Maonan Wei	                                     


Print Name:  Maonan Wei



 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	Suzhou Xiangcheng Venture Capital Co., Ltd.	 
	 	 
	By:	/s/ Chenling Tao	 
	Name: Chenling Tao	 
	Title: Legal Representative	 
	 	 
	In the presence of:	 
	Witness	 



 





	Signature:	 /s/ Yuewen Gu	                                     



Print Name:   Yuewen Gu



 


[Signature Page to Company
Shareholder Support Agreement]


 



    


     


    

 


IN WITNESS WHEREOF, the parties hereto have hereunto
caused this Agreement to be duly executed as of the date hereof as a Deed.


 


EXECUTED AND DELIVERED AS A DEED for and on behalf of:


 


	Suzhou Huanxiu Lake Yihao Investment Co., Ltd.	 
	 	 
	By:	/s/ Dongjun Li	 
	Name: Dongjun Li	 
	Title: Legal Representative	 
	 	 
	In the presence of:	 
	Witness	 



 





	Signature:	 /s/ Wenlong He	                                     


Print Name:  Wenlong He