Document:

Exhibit 10.4.2

 

GREENROSE ACQUISITION CORP.

1000 Woodbury Road

Woodbury, NY 11797

 

_______ __, 2020

 

Gentlemen:

 

Greenrose Acquisition Corp. (“Corporation”),
a blank check company formed for the purpose of acquiring one or more businesses or entities (a “Business Combination”),
intends to register its securities under the Securities Act of 1933, as amended (“Securities Act”), in connection with
its initial public offering to be lead-managed by Imperial Capital, LLC. (“IPO”). The Corporation currently anticipates
selling units in the IPO, each comprised of one share of common stock, par value $0.0001 per share, of the Corporation (“Common
Stock”) and one warrant (“Warrant”), each whole Warrant to purchase one share of Common Stock.

 

The undersigned hereby commits to purchase
an aggregate of 100,000 units of the Corporation (“Initial Units”) at $10.00 per Initial Unit and 500,000 warrants
of the Corporation (“Initial Warrants”) at $1.00 per Initial Warrant, for an aggregate purchase price of $1,500,000
(the “Initial Purchase Price”). Additionally, if the underwriters in the IPO exercise their over-allotment option in
full or part, the undersigned further commits to purchase up to an additional 10,000 Units (“Additional Units” and
together with the Initial Units, the “Private Units”) at $10.00 per Additional Unit and an additional 50,000 Warrants
(“Additional Warrants” and together with the Initial Warrants, the “Private Warrants”), for an aggregate
purchase price of up to $150,000 (the “Over-Allotment Purchase Price” and together with the Initial Purchase Price,
the “Purchase Price”). The Private Units and Private Warrants will be identical to the units and warrants to be sold
in the IPO except as to be described in the Corporation’s registration statement filed in connection with the IPO (“Registration
Statement”). The undersigned shall pay the Initial Purchase Price and Over-Allotment Purchase Price (if any) for the Initial
Units and Initial Warrants and Additional Units and Additional Warrants (if any) by wire transfer of immediately available funds
to the trust account established by the Corporation in connection with the IPO on the date the IPO and over-allotment option are
consummated, respectively. The undersigned agrees that if the size of the IPO is increased or decreased for any reason, the amount
of the undersigned’s investment will be either increased or decreased, as applicable, so that the undersigned’s percentage
of the aggregate investment in Private Units and Private Warrants made by the undersigned and other investors of the Company remains
the same.

 

The Private Units and Private Warrants
(“Private Securities”) will be identical to the units and warrants to be sold by the Corporation in the IPO, except
that:

 

	 	●	the undersigned agrees not to seek conversion, or seek to sell in any tender offer, in connection with any proposed Business Combination any shares of Common Stock included in the Private Units;

 

	 	●	the Private Securities and underlying securities will not be transferable by the undersigned until the consummation of a Business Combination (subject to certain exceptions as described in the Registration Statement);

 

	 	●	the Private Securities will be subject to customary registration rights, pursuant to a registration rights agreement on terms agreed upon by the Company and the Underwriters to be filed as an exhibit to the Registration Statement;

 

     

     

    

 

	 	●	the undersigned will not participate in any liquidation distribution with respect to the Private Securities or the underlying securities if the Corporation fails to consummate a Business Combination; and

 

	 	●	the Private Securities and the underlying securities will include any additional terms or restrictions as is customary in other similarly structured blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate the IPO, each of which will be set forth in the Registration Statement.

 

The undersigned acknowledges and agrees
that it will execute agreements in form and substance typical for transactions of this nature necessary to effectuate the foregoing
agreements and obligations prior to the consummation of the IPO as are reasonably acceptable to the undersigned, including but
not limited to a registration rights agreement.

 

The undersigned hereby represents and warrants
that, as applicable:

 

	 	(a)	it has been advised that the Private Securities and the underlying securities have not been registered under the Securities Act;

 

	 	(b)	it is acquiring the Private Securities and the underlying securities for its account for investment purposes only;

 

	 	(c)	it has no present intention of selling or otherwise disposing of the Private Securities or the underlying securities in violation of the securities laws of the United States;

 

	 	(d)	it is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended;

 

	 	(e)	it has had both the opportunity to ask questions and receive answers from the officers and directors of the Corporation and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder;

 

	 	(f)	it is familiar with the proposed business, management, financial condition and affairs of the Corporation;

 

	 	(g)	it has full power, authority and legal capacity to execute and deliver this letter and any documents contemplated herein or needed to consummate the transactions contemplated in this letter; and

 

	 	(h)	this letter constitutes a legal, valid and binding obligation, and is enforceable against it.

 

[SIGNATURE PAGE FOLLOWS]

 

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	 	Very truly yours,
	 	 
	 	IMPERIAL CAPITAL, LLC
	 	 
	 	By:	                      
	 	Name: 	 
	 	Title:	 

 

ACCEPTED AND AGREED

 

	GREENROSE ACQUISITION CORP.	 
	 	 	 
	By:	     	 
	Name: 	William F. Harley III	 
	Title:	Chief Executive Officer	 

 

 

3Exhibit 10.5

 

STOCK ESCROW AGREEMENT

 

STOCK ESCROW AGREEMENT,
dated as of [_____], 2020 (“Agreement”), by and among GREENROSE ACQUISITION CORP., a Delaware corporation (“Company”),
Greenrose Associates LLC, a New York limited liability company (the “Founder”) and CONTINENTAL STOCK TRANSFER &
TRUST COMPANY, a New York corporation (“Escrow Agent”).

 

WHEREAS, the Company
was formed for the purpose of completing a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination (a “Business Combination”) with one or more businesses or entities.

 

WHEREAS, the
Company has entered into an Underwriting Agreement, dated [_____], 2020 (“Underwriting Agreement”), with IMPERIAL
CAPITAL, LLC (the “Representative”) acting as representative of the several underwriters (collectively,
the “Underwriters”), pursuant to which, among other matters, the Underwriters have agreed to purchase 15,000,000
units (“Units”) of the Company, plus an additional 2,250,000 Units if the Representative exercises the
over-allotment option in full. Each Unit consists of one share of the Company’s common stock, par value $0.0001 per
share (“Common Stock”), and one Warrant, each Warrant to purchase one share of Common Stock,
all as more fully described in the Company’s final Prospectus, dated [_____], 2020 (“Prospectus”)
comprising part of the Company’s Registration Statement on Form S-1 (File No. 333-235724) under the Securities Act of
1933, as amended (“Registration Statement”), declared effective on [_____], 2020 (“Effective
Date”).

 

WHEREAS, the Founder
has agreed as a condition of the sale of the Units to deposit its 4,312,500 shares of Common Stock of the Company, in escrow as
hereinafter provided.

 

WHEREAS, the Company and the Founder desire
that the Escrow Agent accept the shares of Common Stock, in escrow, to be held and disbursed as hereinafter provided.

 

NOW, THEREFORE, for good and valuable consideration,
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1. Appointment of Escrow Agent.
The Company and the Founder hereby appoint the Escrow Agent to act in accordance with and subject to the terms of this Agreement
and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such terms.

 

2. Deposit of Shares. On or before
the Effective Date, the Founder shall have delivered to the Escrow Agent certificates (and applicable stock powers if requested
by the Escrow Agent) representing the Founder’s shares of Common Stock, to be held and disbursed subject to the terms and
conditions of this Agreement.

 

     

     

    

 

3. Disbursement of the Escrow Shares.

 

3.1 If the over-allotment
option to purchase all or a portion of the additional 2,250,000 Units of the Company is not exercised in full within 30 days of
the date of the Prospectus (as described in the Underwriting Agreement), Founder agrees that the Escrow Agent shall return to the
Company for cancellation, at no cost, the number of shares of Common Stock held by it determined by multiplying 562,500 multiplied
by a fraction, (i) the numerator of which is 2,250,000 minus the number of shares of Common Stock included in the Units purchased
by the Underwriters upon the exercise of the over-allotment option, and (ii) the denominator of which is 2,250,000. The Company
shall promptly provide notice to the Escrow Agent of the expiration or termination of the over-allotment option and the number
of Units, if any, purchased by the Underwriters in connection with the exercise thereof.

 

3.2 Except as otherwise
set forth herein, the Escrow Agent shall hold the shares remaining after any cancellation required pursuant to Section 3.1 above
(such remaining shares to be referred to herein as the “Escrow Shares”) until (i) with respect to 50% of the Escrow
Shares, the earlier of (x) one year after the date of the consummation of an initial Business Combination and (y) the date on which
the last sale price of the Common Stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations) for any 20 trading days within any 30-trading day period following the consummation of the Business Combination
and (ii) with respect to the remaining 50% of the Escrow Shares, one year after the date of the consummation of a Business Combination
(such period of time during which the Escrow Shares are held in escrow, the “Escrow Period”). The Company shall promptly
provide notice of the consummation of an initial Business Combination to the Escrow Agent. Upon completion of the Escrow Period,
the Escrow Agent shall disburse such amount of each Founder’s Escrow Shares to such Founder; provided, however, that if,
within the Escrow Period, the Company (or the surviving entity) subsequently consummates a liquidation, merger, stock exchange
or other similar transaction which results in all of the stockholders of such entity having the right to exchange their shares
of Common Stock for cash, securities or other property, then the Escrow Agent will, upon receipt of a notice executed by the Chairman
of the Board, Chief Executive Officer or other authorized officer of the Company, in form reasonably acceptable to the Escrow Agent,
certifying that such transaction is then being consummated or such conditions have been achieved, as applicable, release the Escrow
Shares to the Founder. The Escrow Agent shall have no further duties hereunder after the disbursement of the Escrow Shares in accordance
with this Section 3.2.

 

3.3 If the Escrow Agent
is notified by the Company pursuant to Section 6.7 hereof that the Company is being liquidated, then the Escrow Agent shall deliver
the certificates representing the Escrow Shares to the Founder promptly after the public stockholders are paid the liquidating
distributions and shall have no further duties hereunder.

 

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4. Rights of Founder in Escrow Shares.

 

4.1 Voting Rights
as a Stockholder. Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein provided,
the Founder shall retain all of its rights as a stockholder of the Company as long as any shares are held in escrow pursuant to
this Agreement, including, without limitation, the right to vote such shares.

 

4.2 Dividends and
Other Distributions in Respect of the Escrow Shares. For as long as any shares are held in escrow pursuant to this Agreement,
all dividends payable in cash with respect to the Escrow Shares shall be paid to the Founder, but all dividends payable in stock
or other non-cash property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance with
the terms hereof. As used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed
thereon, if any.

 

4.3 Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) to the Founder’s
and the Company’s officers, directors, employees, consultants or their affiliates, (ii) to a Founder’s stockholders,
partners or members upon the Founder’s liquidation, (iii) by bona fide gift to a member of the Founder’s immediate
family or to a trust, the beneficiary of which is the Founder or a member of the Founder’s immediate family for estate planning
purposes, (iv) by virtue of the laws of descent and distribution upon death of the Founder, (v) pursuant to a qualified domestic
relations order binding on the Founder, (vi) to the Company for no value for cancellation in connection with the consummation of
a Business Combination or (vii) by private sales of the Escrow Shares made at or prior to the consummation of a Business Combination
at prices no greater than the price at which the Escrow Shares were originally purchased; provided, however, that except for clause
(vi) or with the Company’s prior written consent, such permitted transfers may be implemented only upon the respective transferee’s
written agreement to be bound by the terms and conditions of this Agreement and of the Insider Letter signed by the Founder.

 

4.4 Insider Letter.
The Founder has executed a letter agreement with the Company and the Representative, dated as of the date hereto, the form of which
is filed as an exhibit to the Registration Statement (“Insider Letter”), respecting the rights and obligations of the
Founder in certain events, including, but not limited to, the liquidation of the Company.

 

5. Concerning the Escrow Agent.

 

5.1 Good Faith Reliance.
The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise of its own best judgment,
and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due
execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein
contained) which is believed by the Escrow Agent in good faith to be genuine and to be signed or presented by the proper person
or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination or rescission
of this Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the
duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

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5.2 Indemnification.
Subject to Section 5.8 below, the Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses,
including reasonable counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or
other proceeding involving any claim which in any way, directly or indirectly, arises out of or relates to this Agreement, the
services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses arising from the
gross negligence, fraud or willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other parties hereto
in writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an action in the
nature of interpleader in an appropriate court to determine ownership or disposition of the Escrow Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt of a final, non-appealable
order of a court having jurisdiction over all of the parties hereto directing to whom and under what circumstances the Escrow Shares
are to be disbursed and delivered. The provisions of this Section 5.2 shall survive in the event the Escrow Agent resigns or is
discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3 Compensation.
Subject to Section 5.8 below, the Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered
by it hereunder. The Escrow Agent shall also be entitled to reimbursement from the Company for all reasonable expenses paid or
incurred by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors’ and agents’
fees and disbursements and all taxes or other governmental charges.

 

5.4 Further Assurances.
From time to time on and after the date hereof, the Company and the Founder shall deliver or cause to be delivered to the Escrow
Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably
request to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure
itself that it is protected in acting hereunder.

 

5.5 Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties
hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective
at such time that the Escrow Agent shall turn the Escrow Shares over to a successor escrow agent appointed by the Company and approved
by the Representative, which approval will not be unreasonably withheld, conditioned or delayed. If no new escrow agent is so appointed
within the 60-day period following the giving of such notice of resignation, the Escrow Agent may deposit the Escrow Shares with
any court it reasonably deems appropriate in the State of New York.

 

5.6 Discharge of
Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested in
writing at any time by all of the other parties hereto; provided, however, that such resignation shall become effective only upon
the appointment of a successor escrow agent selected by the Company and approved by the Representative, which approval will not
be unreasonably withheld, conditioned or delayed.

 

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5.7 Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence, fraud or willful misconduct.

 

5.8 Waiver.
The Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Escrow Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

6. Miscellaneous.

 

6.1 Governing Law.
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder. As to any claim, cross-claim, or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

 

6.2 Third Party
Beneficiaries. Each of the parties to this Agreement hereby acknowledges that the Representative is a third party beneficiary
of this Agreement.

 

6.3 Entire Agreement.
This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and, except as expressly
provided herein, may only be changed, amended, or modified by a writing signed by each of the parties hereto.

 

6.4 Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
thereof.

 

6.5 Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

6.6 Notices.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery,
by email or by facsimile transmission:

 

If to the Company to:

 

Greenrose Acquisition Corp.

1000 Woodbury Road

Suite #212

Woodbury, NY 11797

Attention: William Harley III

Email: mickey@greenrosecorp.com

 

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If to the Founder to:

Greenrose Associates LLC

1000 Woodbury Road

Suite #212

Woodbury, NY 11797

Attention: William Harley III

Email: mickey@greenrosecorp.com

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust Company

1 State Street

30th Fl.

New York, New York 10004

Attn: Erika Young

Email: eyoung@continentalstock.com

 

A copy of any notice sent hereunder shall be sent to:

 

Imperial Capital LLC

10100 Santa Monica Blvd.

Suite 2400

Los Angeles, CA 90067

Attn: Chris Shepard

Fax No.:

Email:

 

with a copy to:

 

Tarter Krinsky & Drogin LLP

1350 Broadway

11th Floor

New York, NY 10018

Attn: Guy Molinari, Esq.

Email: gmolinari@tarterkrinsky.com

 

K&L Gates LLP

10100 Santa Monica Blvd.

Los Angeles, CA 90067

Attention: Leib Orlanski

 

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The parties may change
the persons and addresses to which the notices or other communications are to be sent by giving written notice to any such change
in the manner provided herein for giving notice.

 

6.7 Liquidation
of the Company. The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company
in the event that the Company fails to consummate a Business Combination within the time period specified in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time.

 

6.8 Counterparts.
This Agreement may be executed in several counterparts, each one of which shall constitute an original and may be delivered by
facsimile transmission and together shall constitute one instrument.

 

[Signature Page Follows]

 

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

 

	 	GREENROSE ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name: 	William Harley III
	 	Title:	Chief Executive Officer
	 	 	 
	 	GREENROSE ASSOCIATES LLC
	 	 	 
	 	By:	 
	 	Name:	William Harley III
	 	Title:	Managing Member
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

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