Exhibit 10.2


 


SPONSOR SUPPORT AGREEMENT


 


This SPONSOR SUPPORT AGREEMENT,
dated as of January 5, 2023 (this “Agreement”), is entered into by and among the stockholders listed on Exhibit
A hereto (each, a “Stockholder”), iCoreConnect Inc., a Nevada corporation (the “Company”) and
FG Merger Corp., a Delaware corporation (“Buyer”). Capitalized terms used but not defined in this Agreement shall have
the meanings ascribed to them in the Merger Agreement (as defined below).


 


WHEREAS, Buyer, FG Merger
Sub Inc., a Nevada corporation and wholly owned subsidiary of Buyer (“Merger Sub”), and the Company are parties to
that certain Merger Agreement and Plan of Reorganization dated as of the date hereof, as amended, modified or supplemented from time to
time (the “Merger Agreement”) which provides, among other things, that, upon the terms and subject to the conditions
thereof, Merger Sub will be merged with and into the Company (the “Merger”), with the Company surviving the Merger;


 


WHEREAS, as of the date hereof,
each Stockholder owns the number of shares of common stock, par value $0.0001 per share, of Buyer set forth on Exhibit A (all such
shares, or any successor shares of Buyer of which ownership of record or the power to vote is hereafter acquired by the Stockholder prior
to the termination of this Agreement being referred to herein as the “Shares”); and


 


WHEREAS, in order to induce
the Company, to enter into the Merger Agreement, each Stockholder is executing and delivering this Agreement to the Company.


 


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:


 


1.
Agreement to Vote. During the period commencing on the date hereof and ending on the earlier to occur of (a) the Effective
Time, and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 9.1 thereof (the “Expiration
Time”), each Stockholder, with respect to its Shares, hereby irrevocably agrees to (1) appear at any meeting of the stockholders
of Buyer (a “Buyer Stockholders’ Meeting”) in person or proxy or otherwise cause the Shares to be counted as
present thereat for the purpose of establishing a quorum, (2) vote, or cause to be voted or consented at a Buyer Stockholders’ Meeting,
or in any action by written consent of the stockholders, all of the Shares owned as of the record date for such meeting (a) in favor of
the approval and adoption of the Merger Agreement, the transactions contemplated by the Merger Agreement and this Agreement, (b) in favor
of any other matter reasonably necessary to the consummation of the transactions contemplated by the Merger Agreement and considered and
voted upon by the stockholders of Buyer and (c) in favor of the approval of the Parent Proposals (as defined in the Merger Agreement),
and (3) against any other action that would reasonably be expected to (x) materially impede, interfere with, delay, postpone or adversely
affect the Merger or any of the Transactions, (y) result in a breach of any covenant, representation or warranty or other obligation or
agreement of Buyer under the Merger Agreement or (z) result in a breach of any covenant, representation or warranty or other obligation
or agreement of the Stockholder contained in this Agreement. Each Stockholder acknowledges receipt and review of a copy of the Merger
Agreement. The obligations of each Stockholder specified in this Section 1 shall apply whether or not the Merger or any action
described above is recommended by the Parent Board.


 


Each Stockholder hereby agrees that it shall not
commit or agree to take any action inconsistent with the foregoing. Nothing in this Agreement shall be deemed to impose any obligation
or limitation on votes or actions taken by any director, officer, employee or agent of any Stockholder or by any Stockholder that is a
natural person, in each case, in his or her capacity as a director or officer of Buyer. Each Stockholder is executing this Agreement solely
in such capacity as a record or beneficial holder of Shares.


 


2.
Redemptions Rights; Waiver Conversion Ratios. Each Stockholder further agrees that it will not exercise its right to redeem
all or a portion of such Stockholder’s Shares (in connection with the Transactions or otherwise) as set forth in the organizational
documents of Buyer.


 






     


     


    

 


3. Transfer
of Shares. Hereafter until the Expiration Time, each Stockholder agrees that it shall not, directly or indirectly, (a) sell,
assign, transfer (including by operation of law), allow the creation of a lien, pledge, distribute, dispose of or otherwise encumber
any of the Shares, either voluntarily or involuntarily (collectively, “Transfer”), or otherwise agree or offer to
do any of the foregoing, (b) deposit any Shares 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, (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 Shares, (d) 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, with respect to any Shares, (e) 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 Share, (f)
take any action that would have the effect of preventing or disabling Stockholder from performing its obligations hereunder or (g)
publicly announce any intention to effect any transaction specified in this Section 3; provided, that, Transfers by a
Stockholder are permitted to an affiliate of such Stockholder (a “Permitted Transfer”); provided, further, that
any Permitted Transfer shall be permitted only if, as a precondition to such Transfer, the transferee also agrees in a writing,
reasonably satisfactory in form and substance to the Company, to assume all of the obligations of the Stockholder under, and be
bound by all of the terms of, this Agreement; provided, further, that any Transfer permitted under this Section 3 shall not
relieve the Stockholder of its obligations under this Agreement. Any Transfer in violation of this Section 3 with respect to
the Stockholder’s Shares shall be null and void. Nothing in this Agreement shall prohibit direct or indirect transfers of
equity or other interests in a Stockholder.


 


4.
Representations and Warranties. Each Stockholder, severally and not jointly, represents and warrants for and on behalf of
itself to the Company as follows:


 


(a)
The execution, delivery and performance by Stockholder of this Agreement and the consummation by Stockholder of the transactions
contemplated hereby do not and will not (i) conflict with or violate any Law applicable to Stockholder, (ii) require any consent, approval
or authorization of, declaration, filing or registration with, or notice to, any person or entity, (iii) result in the creation of any
Lien on any Shares (other than pursuant to this Agreement or transfer restrictions under applicable securities laws or the organization
documents of Stockholder) or (iv) conflict with or result in a breach of or constitute a default under any provision of Stockholder’s
organizational documents.


 


(b)
Stockholder is the only record and a beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of and has good,
valid and marketable title to the Shares free and clear of any Lien (other than (i) pursuant to this Agreement or (ii) transfer restrictions
under applicable securities Laws) and has the sole power (as currently in effect) to vote the Shares and has not entered into any voting
agreement or voting trust with respect to any of the Shares that is inconsistent with the Stockholder’s obligations pursuant to
this Agreement. Stockholder has the full right, power and authority to sell, transfer and deliver such Shares, and Stockholder does not
own, directly or indirectly, any other Shares, other than Parent Warrants held by Stockholder (if any).


 


(c)
Stockholder is a natural person or a legal entity duly organized, validly existing and, to the extent such concept is applicable,
in good standing under the Laws of the jurisdiction of its organization has the power, authority and capacity to execute, deliver and
perform this Agreement, has not entered into any agreement or undertaking that would interfere with, or prohibit or prevent it from satisfying,
its obligations pursuant to this Agreement and that this Agreement has been duly authorized, executed and delivered by Stockholder. This
Agreement, assuming due authorization, execution and delivery hereof by the Company and the Buyer, constitutes a legal, valid and binding
obligation of Stockholder, enforceable against Stockholder in accordance with its terms (except as such enforceability may be limited
by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating to
or affecting creditors’ rights and to general equitable principles).


 


(d)
As of the date of this Agreement, there is no action, proceeding or, to the Stockholder’s knowledge, investigation pending
against the Stockholder or, to the knowledge of the Stockholder, threatened against the Stockholder that questions the beneficial or record
ownership of the Stockholder’s Shares, the validity of this Agreement or the performance by the Stockholder of its obligations under
this Agreement.


 


(e)
Stockholder understands and acknowledges that the Company is entering into the Business Combination Agreement in reliance upon
the Stockholder’s execution and delivery of this Agreement.


 






     


     


    

 





(f)
Except as disclosed in the Prospectus, no investment banker, broker, finder or other intermediary is entitled to any broker’s,
finder’s, financial advisor’s or other similar fee or commission for which Buyer, Merger Sub or the Company is or will be
liable in connection with the transactions contemplated hereby based upon arrangements made by or, to the knowledge of the Stockholder,
on behalf of the Stockholder.


 


5.
New Shares. In the event that, during the period commencing on the date hereof and ending at the Expiration Time, (a) any
Shares are issued to Stockholder after the date of this Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification,
combination or exchange of Shares or otherwise, (b) a Stockholder purchases or otherwise acquires beneficial ownership of any Shares or
(c) a Stockholder acquires the right to vote or share in the voting of any Shares (collectively the “New Securities”),
then such New Securities acquired or purchased by such Stockholder shall be subject to the terms of this Agreement to the same extent
as if they constituted the Shares owned by such Stockholder as of the date hereof.


 


6.
No Challenges. Each Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to take all
actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Buyer, Merger
Sub, the Company or any of their respective successors or directors (a) challenging the validity of, or seeking to enjoin the operation
of, any provision of this Agreement or the Merger Agreement or (b) alleging a breach of any fiduciary duty of any person in connection
with the evaluation, negotiation or entry into the Merger Agreement.


 


7.
Termination. This Agreement and the obligations of Stockholder under this Agreement shall automatically terminate upon the
earliest of: (a) the Effective Time; (b) the termination of the Merger Agreement in accordance with its terms; and (c) the mutual agreement
of the Company and Buyer. Upon termination or expiration of this Agreement, no party shall have any further obligations or liabilities
under this Agreement; provided, however, such termination or expiration shall not relieve any party from liability for any willful breach
of this Agreement occurring prior to its termination.


 


8.
Miscellaneous.


 


(a)
Except as otherwise provided herein or in any Transaction Document, 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
contemplated hereby are consummated.


 


(b)
All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be
deemed to have been duly given upon receipt) by delivery in person, by telecopy or e-mail or by registered or certified mail (postage
prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall
be specified in a notice given in accordance with this Section 8(b)):


 


If to Stockholder:


 


To such Stockholder’s address set forth in Exhibit
A.


with copies to (which shall not constitute notice):


 


Loeb & Loeb

345 Park Avenue, 19th Floor

New York, NY 10154

Attention: Mitchell S. Nussbaum, Esq.

E-mail: mnussbaum@loeb.com


 


If to the Company:


 


iCoreConnect Inc.


529 E Crown Point Road, Suite 250


Ocoee, FL 34761


Attention: Archit Shah, CFO





Email: ashah@icoreconnect.com


 






     


     


    

 


with a copy to:


 


ArentFox Schiff LLP


1717 K Street NW


Washington, DC 20006


Attention: Ralph V. De Martino


Email: ralph.demartino@afslaw.com


 


If to Buyer, to:


 


FG Merger Corp.


105 S. Maple Street


Itasca, Illinois 60143


Attention: Wesley Schrader


Email: wes@waveriderpartners.com


 


with a copy to:


 


Loeb & Loeb LLP


345 Park Avenue


New York, NY 10154


Attention: Mitchell Nussbaum


Email: mnussbaum@loeb.com


 


(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 hereto 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.


 


(d)
This Agreement and the Merger Agreement constitute the entire agreement among the parties with respect to the subject matter hereof
and supersede 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).


 


(e)
This Agreement shall be binding upon and inure solely to the benefit of each party hereto, 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.


 


(f)
This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware applicable to contracts
executed in and to be performed in that State without giving effect to principles or rules of conflict of laws to the extent such principles
or rules would require or permit the application of Laws of another jurisdiction. All actions, suits or proceedings (collectively, “Action”)
arising out of or relating to this Agreement shall be heard and determined exclusively in any federal or state court having jurisdiction
within the State of Delaware. The parties hereto hereby (i) submit to the exclusive jurisdiction of federal or state courts within the
State of Delaware for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto, and (ii) irrevocably
waive, and agree not to assert by way of motion, defense, or otherwise, in any such Action, any claim that it is not subject personally
to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is
brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereunder
may not be enforced in or by any of the above-named courts.


 






     


     


    

 





(g)
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 shall 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 any federal or state court within the State
of Delaware 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 further waives (i) any defense in any action for specific performance that
a remedy at law would be adequate and (b) any requirement to post security or a bond as a prerequisite to obtaining equitable relief.


 


(h)
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 hereto 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.


 


(i)
Each Stockholder shall execute and deliver, or cause to be delivered, such additional documents, and take, or cause to be taken,
all such further actions and do, or cause to be done, all things reasonably necessary (including under applicable Laws), or reasonably
requested by Buyer or the Company, to effect the actions and consummate the Merger and the other transactions contemplated by this Agreement
and the Merger Agreement (including the Transactions), in each case, on the terms and subject to the conditions set forth therein and
herein, as applicable.


 


(j)
This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the execution
and delivery of a written agreement executed by Buyer, the Company and each Stockholder.


 


(k)
This Agreement shall not be effective or binding upon Stockholder until such time as the Merger Agreement is executed by each of
the parties thereto.


 


(l)
If, and as often as, there are any changes in Buyer by way of stock split, stock dividend, combination or reclassification, or
through merger, consolidation, reorganization, recapitalization or business combination, or by any other means, equitable adjustment shall
be made to the provisions of this Agreement as may be required so that the rights, privileges, duties and obligations hereunder shall
continue with respect to Stockholder and the Shares as so changed.


 


(m)
Each of the parties hereto hereby waives to the fullest extent permitted by applicable law any right it may have to a trial by
jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement. Each of the parties
hereto (i) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other
party would not, in the event of litigation, seek to enforce that foregoing waiver and (ii) acknowledges that it and the other parties
hereto have been induced to enter into this Agreement and the transactions contemplated hereby, as applicable, by, among other things,
the mutual waivers and certifications in this Section 8(m).


 


(n)
Stockholder hereby authorizes Buyer and the Company to publish and disclose in any disclosure required by the United States Securities
and Exchange Commission the Stockholder’s identity and beneficial ownership of the Shares and the nature of the Stockholder’s
obligations under this Agreement.


 


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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the date first written above.


 


 


	 	STOCKHOLDERS:
	 	 
	 	FG MERGER INVESTORS LLC
	 	 
	 	By: 	/s/ Larry G. Swets, Jr
	 	Name: Larry G. Swets, Jr.
	 	Title: Manager
	 	 
	 	By: 	/s/ D. Kyle Cerminara
	 	Name: D. Kyle Cerminara
	 	Title: Manager
	 	 
	 	By:	/s/ Hassan R. Baqar
	 	Name: Hassan R. Baqar
	 	Title: Manager
	 	 
	 	 
	 	/s/ D. Kyle Cerminara
	 	D. Kyle Cerminara
	 	 
	 	/s/ Larry G. Swets, Jr.
	 	Larry G. Swets, Jr.
	 	 
	 	/s/ Hassan R. Baqar
	 	Hassan R. Baqar
	 	 
	 	/s/ M. Wesley Schrader
	 	M. Wesley Schrader
	 	 
	 	/s/ Jeff Sutton
	 	Jeff Sutton
	 	 
	 	/s/ Ryan Turner
	 	Ryan Turner



 






     


     


    

 


	 	COMPANY:
	 	 
	 	icoreconnect inc.
	 	 
	 	By:	/s/ Robert McDermott
	 	Name: Robert McDermott 
	 	Title: President and CEO
	 	 
	 	BUYER:
	 	 
	 	FG Merger Corp.
	 	 
	 	By:	/s/ M. Wesley Schrader
	 	Name: M. Wesley Schrader
	 	Title: Chief Executive Officer


 









     


     


    

 


Exhibit A


Stockholders


 


	Stockholder	Number of Shares of

 Common Stock	Address for Notices
	FG Merger Investors LLC	2,007,500	105 S. Maple Street

Itasca, Illinois  60143
	D. Kyle Cerminara	15,000	105 S. Maple Street

Itasca, Illinois  60143
	Larry G. Swets, Jr.	10,000	105 S. Maple Street

Itasca, Illinois  60143
	Hassan R. Baqar	10,000	105 S. Maple Street

Itasca, Illinois  60143
	M. Wesley Schrader	10,000	105 S. Maple Street

Itasca, Illinois  60143
	Jeff Sutton	7,500	105 S. Maple Street

Itasca, Illinois  60143
	Ryan Turner	7,500	105 S. Maple Street

Itasca, Illinois  60143
	Total	2,067,500