Document:

EXHIBIT 10.16

    

    

    The following form of agreement was executed by The Ohio Valley Bank Company and each of the following directors on the dates indicated beside their names:

    

    

    	
            Name

          	 	
            Date of Agreement

          
	 	 	 
	
            David W. Thomas

          	 	
            December 20, 2016

          
	 	 	 
	
            Thomas E. Wiseman

          	 	
            December 13, 2016

          
	 	 	 
	
            Anna P. Barnitz

          	 	
            December 13, 2016

          
	 	 	 
	
            Brent A. Saunders

          	 	
            December 13, 2016

          

    

    

    

    

    2016 DETERMINATION OF DIRECTOR’S FEES

     

    FOR PURPOSES OF THE DIRECTOR DEFERRED FEE AGREEMENT

    FOR _____________

    

    

    THIS AGREEMENT is made this ______ day of December, 2016, by and between THE OHIO VALLEY BANK COMPANY located in Gallipolis, Ohio (the
      “Company”), and _________  (the “Director”).

     

    The Company and the Director entered into a DEFERRED FEE AGREEMENT most recently amended on ___________ (the “Agreement”).

     

    The Director agrees that the definition of “Fees” in Section 1.10 be amended to read as follows effective for deferrals on or after January
      1, 2017:

    

    

    1.10 “Fees” means the total annual board retainer and monthly fees paid to all directors, earned by the Director during a Plan Year.  For
      purposes of clarity, Fees does not include any lead director fees, committee meeting or chair fees or other special director fees.

    

    

    The parties, by executing this Agreement hereby agree to the terms stated herein. 

    

    

     

    	
            DIRECTOR:

          	 	
            THE OHIO VALLEY BANK COMPANY

          
	 	 	 
	 	 	 
	 	 	
            By:

          	 
	 	 	
             

            Title:EXHIBIT 10.17

    

    

    The following form of agreement was executed by The Ohio Valley Bank Company and each of the following directors on the dates indicated beside their names:

    

    

    	
            Name

          	 	
            Date of Agreement

          
	 	 	 
	
            David W. Thomas

          	 	
            December 20, 2016

          
	 	 	 
	
            Thomas E. Wiseman

          	 	
            December 13, 2016

          

    

    

    

    

    2016 DETERMINATION OF DIRECTOR’S FEES

     

    FOR PURPOSES OF THE DIRECTOR RETIREMENT AGREEMENT

    FOR _____________

    

    

    THIS AGREEMENT is made this ______ day of December, 2016, by and between THE OHIO VALLEY BANK COMPANY located in Gallipolis, Ohio (the
      “Company”), and ______________ (the “Director”).

     

    The Company and the Director entered into a DIRECTOR RETIREMENT AGREEMENT most recently amended and restated on ____________________, 20__
      (the “Agreement”).

     

    The Director agrees that Director’s “total annual or monthly fees” for purposes of sections 2.1.1 Normal Retirement Benefit, 2.2.1
      Disability Benefit, and 3.1.1 Death During Active Service will include the annual board retainer and monthly fees paid to all directors, earned by the Director during a Plan Year and will not include committee fees of any type, lead director fees or
      other special director fees.

    

    

    The parties, by executing this Agreement hereby agree to the terms stated herein.

    

    

     

    	
            DIRECTOR:

          	 	
            THE OHIO VALLEY BANK COMPANY

          
	 	 	 
	 	 	 
	 	 	
            By:

          	 
	 	 	
             

            Title:Exhibit 4.5

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

The following summary of the
material terms of certain securities of Schultze Special Purpose Acquisition Corp. II, a Delaware corporation (“we,” “us,”
“our,” “the company” or “our company”), is not intended to be a complete summary of the rights and
preferences of such securities and is subject to and qualified by reference to our amended and restated certificate of incorporation,
our bylaws and the warrant agreement, dated October 7, 2021, between the company and Continental Stock Transfer & Trust Company (the
“Warrant Agreement”), in each case incorporated by reference as exhibits to the company’s Annual Report on Form 10-K
(the “Report”) of which this exhibit is a part, and applicable Delaware law, including the Delaware General Corporation Law
(the “DGCL”).

 

As of the end of the period
covered by the Report, we had the following three classes of securities registered under Section 12 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”): (i) units, each consisting of one share of Class A common stock and one-half of one
redeemable warrant, (ii) Class A common stock, par value $0.0001 per share, and (iii) warrants, each whole warrant exercisable for one
share of Class A common stock at an exercise price of $11.50. This exhibit also references the company’s Class B common stock, par
value $0.0001 per share (“Class B common stock” or “founder shares”), which is not registered pursuant to Section
12 of the Exchange Act but is convertible into Class A common stock. The description of the Class B common stock is included to assist
in the description of the Class A common stock. Unless the context otherwise requires, references to our “sponsor” are to
Schultze Special Purpose Acquisition Sponsor II, LLC, a Delaware limited liability company, and references to our “initial stockholders”
are to the holders of our founder shares prior to our initial public offering. Terms used but not defined herein shall have the meaning
ascribed to such terms in the Report.

 

General

 

Pursuant to our amended and
restated certificate of incorporation, our authorized capital stock consists of 200,000,000 shares of Class A common stock, par value
$0.0001 per share, 20,000,000 shares of Class B common stock, par value $0.0001 per share, and 1,000,000 shares of preferred stock, par
value $0.0001 per share.

 

Our units, Class A common
stock and warrants are listed on the Nasdaq Global Market (“Nasdaq”) under the symbols “SAMAU,” “SAMA”
and “SAMAW,” respectively. 

 

Units

 

Each unit consists of one
share of Class A common stock and one-half of one warrant. Each whole warrant entitles the holder to purchase one share of Class A common
stock. Pursuant to the Warrant Agreement, a warrant holder may exercise his, her or its warrants only for a whole number of shares of
Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrant holder. No fractional warrants
will be issued upon separation of the units and only whole warrants will trade.

 

The Class A common stock and
warrants comprising the units commenced separate trading on November 29, 2021. Holders have the option to continue to hold units or separate
their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the
units into shares of Class A common stock and warrants.  

 

Common Stock

 

Common stockholders of record
are entitled to one vote for each share held on all matters to be voted on by stockholders. Other than with regard to our directors prior
to our initial business combination, holders of the Class A common stock and holders of the Class B common stock will vote together as
a single class on all matters submitted to a vote of our stockholders, except as required by law. Unless specified in our amended and
restated certificate of incorporation or bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange rules,
the affirmative vote of a majority of our shares of common stock that are voted is required to approve any such matter voted on by our
stockholders. Our board of directors is divided into two classes, each of which will generally serve for a term of two years with only
one class of directors being elected in each year. There is no cumulative voting with respect to the election of directors, with the result
that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors. Our stockholders are
entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior
to our initial business combination, only holders of our founder shares will have the right to vote on the election of directors. Holders
of our public shares will not be entitled to vote on the election of directors during such time.

 

     

     

    

 

Because our amended and restated
certificate of incorporation authorizes the issuance of up to 200,000,000 shares of Class A common stock, if we were to enter into an
initial business combination, we may (depending on the terms of such an initial business combination) be required to increase the number
of shares of Class A common stock which we are authorized to issue at the same time as our stockholders vote on the initial business combination
to the extent we seek stockholder approval in connection with our initial business combination.

 

In accordance with Nasdaq
corporate governance requirements, we are required to hold an annual meeting no later than one full year after our first fiscal year end
following our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders
for the purposes of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such
a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business
combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our
stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may attempt to force
us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

 

We will provide our stockholders
with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the consummation
of our initial business combination including interest earned on the funds held in the trust account and not previously released to us
to pay our taxes, divided by the number of then outstanding public shares, subject to the limitations described herein. The per-share
amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we
will pay to the underwriters of our initial public offering. Our sponsor, initial stockholders, officers and directors have entered into
a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and
any public shares held by them in connection with the completion of our initial business combination. Unlike many blank check companies
that hold stockholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related
redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if
a stockholder vote is not required by law and we do not decide to hold a stockholder vote for business or other reasons, we will, pursuant
to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of the SEC, and file
tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated certificate of incorporation
requires these tender offer documents to contain substantially the same financial and other information about the initial business combination
and the redemption rights as is required under the SEC’s proxy rules. If, however, a stockholder approval of the transaction is
required by law, or we decide to obtain stockholder approval for business or other reasons, we will, like many blank check companies,
offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules.
If we seek stockholder approval, we will complete our initial business combination only if a majority of the outstanding shares of common
stock voted are voted in favor of the initial business combination. A quorum for such meeting will consist of the holders present in person
or by proxy of shares of outstanding capital stock of the company representing a majority of the voting power of all outstanding shares
of capital stock of the company entitled to vote at such meeting.

 

However, the participation
of our sponsor, initial stockholders, officers, directors, advisors or their affiliates in privately-negotiated transactions, if any,
could result in the approval of our initial business combination even if a majority of our public stockholders vote, or indicate their
intention to vote, against such business combination. For purposes of seeking approval of the majority of our outstanding shares of common
stock voted, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. We intend to
give approximately 30 days (but not less than 10 days nor more than 60 days) prior written notice of any such meeting, if required, at
which a vote shall be taken to approve our initial business combination. These quorum and voting thresholds, and the voting agreements
of our sponsor, initial stockholders, officers and directors, may make it more likely that we will consummate our initial business combination.

 

    2

     

    

 

If we seek stockholder approval
of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to
the tender offer rules, our amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate
of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under
Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares
of Class A common stock sold in our initial public offering, which we refer to as the “Excess Shares”. However, we would not
be restricting our stockholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business
combination. Our stockholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our
initial business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on
the open market. Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if we complete
the initial business combination. As a result, such stockholders will continue to hold that number of shares exceeding 15% and, in order
to dispose such shares, would be required to sell their shares in open market transactions, potentially at a loss.

 

Pursuant to our amended and
restated certificate of incorporation, if we do not complete our initial business combination by April 13, 2023, we will (i) cease all
operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter
subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account including interest earned on the funds held in the trust account not previously released to
us (net of taxes payable and $150,000 for any dissolution or liquidation related expenses, as applicable), divided by the number of then
outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the
right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in
each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our sponsor,
initial stockholders, officers and directors have agreed to waive their rights to liquidating distributions from the trust account with
respect to any founder shares held by them if we fail to complete our initial business combination by April 13, 2023. However, if our
sponsor, initial stockholders, officers or directors acquire public shares, they will be entitled to liquidating distributions from the
trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed time period.

 

In the event of a liquidation,
dissolution or winding up of the company after an initial business combination, our stockholders are entitled to share ratably in all
assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of stock,
if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights. There are no sinking
fund provisions applicable to the common stock, except that we will provide our public stockholders with the opportunity to redeem their
public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, upon the completion
of our initial business combination, subject to the limitations described herein.

 

    3

     

    

 

Founder Shares

 

The founder shares are identical
to the shares of Class A common stock included in the units sold in our initial public offering, and holders of founder shares have the
same stockholder rights as public stockholders, except that (i) the founder shares are subject to certain transfer restrictions, as described
in more detail below, (ii) our sponsor, initial stockholders, officers and directors have entered into a letter agreement with us, pursuant
to which they have agreed (A) to waive their redemption rights with respect to any founder shares and any public shares held by them in
connection with the completion of our initial business combination, (B) to waive their redemption rights with respect to their founder
shares and public shares in connection with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation
(x) to modify the substance or timing of our obligation to allow redemptions in connection with our initial business combination or to
redeem 100% of our public shares if we do not complete our initial business combination by April 13, 2023 or (y) with respect to any other
provision relating to stockholders’ rights or pre-initial business combination activity and (C) to waive their rights to liquidating
distributions from the trust account with respect to any founder shares held by them if we fail to complete our initial business combination
by April 13, 2023, although they will be entitled to liquidating distributions from the trust account with respect to any public shares
they hold if we fail to complete our initial business combination within such time period, (iii) the founder shares are shares of our
Class B common stock that will automatically convert into shares of our Class A common stock at the time of our initial business combination,
or at any time prior thereto at the option of the holder, on a one-for-one basis, subject to adjustment as described herein and in our
amended and restated certificate of incorporation, and (iv) are entitled to registration rights. If we submit our business combination
to our public stockholders for a vote, our initial stockholders have agreed to vote their founder shares and any public shares held by
them in favor of our initial business combination and our executive officers and directors have also agreed to vote any public shares
held by them in favor of our initial business combination. As a result, we would need only 6,187,501, or 37.5% (assuming all outstanding
shares are voted), or 1,031,251, or 6.25% (assuming only the minimum number of shares representing a quorum are voted), of the 16,500,000
public shares sold in our initial public offering to be voted in favor of a transaction in order to have our initial business combination
approved. Permitted transferees of the founder shares held by our sponsor, initial stockholders, officers and directors would be subject
to the same restrictions. Furthermore, if our anchor investors vote all of the public shares underlying the 14,857,500 units they acquired
in our initial public offering in favor of an initial business combination, we would not need any of the other public shares sold in our
initial public offering to be voted in favor of an initial business combination in order to have our initial business combination approved.
Although our anchor investors are not contractually obligated to vote in favor of an initial business combination, their interest in certain
of our founder shares may provide an incentive for them to do so.

 

The shares of Class B common
stock will automatically convert into shares of Class A common stock at the time of our initial business combination on a one-for-one
basis (subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like), and subject to further
adjustment as provided herein. In the case that additional shares of Class A common stock, or equity-linked securities, are issued or
deemed issued in excess of the amounts issued in our initial public offering and related to the closing of the initial business combination,
the ratio at which shares of Class B common stock shall convert into shares of Class A common stock will be adjusted (unless the holders
of a majority of the outstanding shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed
issuance) so that the number of shares of Class A common stock issuable upon conversion of all shares of Class B common stock will equal,
in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common stock outstanding upon completion
of our initial public offering plus all shares of Class A common stock and equity-linked securities issued or deemed issued in connection
with the initial business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the
initial business combination). We cannot determine at this time whether a majority of the holders of our Class B common stock at the time
of any future issuance would agree to waive such adjustment to the conversion ratio. They may waive such adjustment due to (but not limited
to) the following: (i) closing conditions which are part of the agreement for our initial business combination; (ii) negotiation with
Class A stockholders on structuring an initial business combination; or (iii) negotiation with parties providing financing which would
trigger the anti-dilution provisions of the Class B common stock. If such adjustment is not waived, the issuance would not reduce the
percentage ownership of holders of our Class B common stock, but would reduce the percentage ownership of holders of our Class A common
stock. If such adjustment is waived, the issuance would reduce the percentage ownership of holders of both classes of our common stock.
Holders of founder shares may also elect to convert their shares of Class B common stock into an equal number of shares of Class A common
stock, subject to adjustment as provided above, at any time. The term “equity-linked securities” refers to any debt or equity
securities that are convertible, exercisable or exchangeable for shares of Class A common stock issues in a financing transaction in connection
with our initial business combination, including but not limited to a private placement of equity or debt. Securities could be “deemed
issued” for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of convertible
securities, warrants or similar securities.

 

    4

     

    

 

The founder shares and any
shares of Class A common stock issued upon conversion thereof are subject to transfer restrictions pursuant to lock-up provisions in a
letter agreement among us and our initial stockholders, sponsor, officers and directors. Those lock-up provisions provide that such securities
are not transferable or salable until the earlier of (A) one year after the completion of our initial business combination or (B) subsequent
to our initial business combination, (x) if the last reported sale price of our Class A common stock equals or exceeds $12.00 per share
(as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger,
capital stock exchange, reorganization or other similar transaction that results in all of our stockholders having the right to exchange
their shares of common stock for cash, securities or other property, except (a) to our officers or directors, any affiliates or family
members of any of our officers or directors, any members of our sponsor, or any affiliates of our sponsor, as well as affiliates of such
members and funds and accounts advised by such members; (b) in the case of an individual, by gift to a member of the individual’s
immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such
person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of
the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers
made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation of an initial business
combination at prices no greater than the price at which the shares or warrants were originally purchased; (f) in the event of our liquidation
prior to the completion of our initial business combination; (g) by virtue of the laws of the State of Delaware or our sponsor’s
limited liability company agreement upon dissolution of our sponsor; or (h) in the event of our liquidation, merger capital stock exchange,
reorganization or other similar transaction which results in all of our stockholders having the right to exchange their shares of common
stock for cash, securities or other property subsequent to the completion of our initial business combination, provided, however, that
in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement agreeing to be bound by
these transfer restrictions and the other restrictions contained in the letter agreement and by the same agreements entered into by our
sponsor with respect to such securities (including provisions relating to voting, the trust account and liquidating distributions).

 

Prior to our initial business
combination, only holders of our founder shares will have the right to vote on the election of directors. Holders of our public shares
will not be entitled to vote on the election of directors during such time. These provisions of our amended and restated certificate of
incorporation may only be amended by a resolution passed by a majority of our Class B common stock. With respect to any other matter submitted
to a vote of our stockholders, including any vote in connection with our initial business combination, except as required by law, holders
of our founder shares and holders of our public shares will vote together as a single class, with each share entitling the holder to one
vote.

 

Preferred Stock

 

Our amended and restated certificate
of incorporation authorizes the issuance of preferred stock with such designation, rights and preferences as may be determined from time
to time by our board of directors. Accordingly, our board of directors is empowered, without stockholder approval, to issue preferred
stock with dividend, liquidation, conversion, voting or other rights which could adversely affect the voting power or other rights of
the holders of common stock. However, the underwriting agreement related to our initial public offering prohibits us, prior to a business
combination, from issuing preferred stock which participates in any manner in the proceeds of the trust account, or which votes as a class
with the common stock on a business combination. We may issue some or all of the authorized preferred stock to effect a business combination.
In addition, the preferred stock could be utilized as a method of discouraging, delaying or preventing a change in control of us. Although
we do not currently intend to issue any shares of preferred stock, we cannot assure you that we will not do so in the future.

 

    5

     

    

 

Warrants

 

Each whole warrant entitles
the registered holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as discussed
below, at any time commencing on the later of 30 days after the completion of an initial business combination or October 13, 2022.
However, no warrants will be exercisable for cash unless we have an effective and current registration statement covering the shares of
Class A common stock issuable upon exercise of the warrants and a current prospectus relating to such shares of Class A common
stock. Notwithstanding the foregoing, if a registration statement covering the shares of Class A common stock issuable upon exercise
of the public warrants is not effective within 90 days following the consummation of our initial business combination, warrant holders
may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective
registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be able to
exercise their warrants on a cashless basis. In the event of such cashless exercise, each holder would pay the exercise price by surrendering
the warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of
the number of shares of Class A common stock underlying the warrants, multiplied by the excess of the “fair market value”
(defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value” for this
purpose will mean the average last reported sale price of the shares of Class A common stock for the 10 trading days ending on the
trading day prior to the date of exercise. The warrants will expire on the fifth anniversary of our completion of an initial business
combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

Once the warrants become exercisable,
we may call the warrants for redemption:

 

		●	in whole and not in part;

 

		●	at a price of $0.01 per warrant;

 

		●	upon not less than 30 days’ prior written notice of redemption to each warrant holder; and

 

		●	if, and only if, the last reported sale price of the Class A common stock for any 20 trading days
within a 30-trading day period ending three business days before we send the notice of redemption to the warrant holders equals or
exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like and certain issuances
of Class A common stock and equity-linked securities). If and when the warrants become redeemable by us, we may exercise our
redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities
laws.

 

We have established the $18.00
per share (as adjusted) redemption criteria discussed above to prevent a redemption call unless there is at the time of the call a significant
premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants,
each warrant holder will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Class A
common stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like and certain issuances of Class A common stock and equity-linked securities) as well as the $11.50 warrant exercise
price after the redemption notice is issued.

 

Redemption Procedures and
Cashless Exercise. If we call the warrants for redemption as described above, our management will have the option to require any holder
that wishes to exercise his, her or its warrant to do so on a “cashless basis.” In determining whether to require all holders
to exercise their warrants on a “cashless basis,” our management will consider, among other factors, our cash position, the
number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares of Class A
common stock issuable upon the exercise of our warrants. If our management takes advantage of this option, all holders of warrants would
pay the exercise price by surrendering their warrants for that number of shares of Class A common stock equal to the quotient obtained
by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the excess
of the “fair market value” (defined below) over the exercise price of the warrants by (y) the fair market value. The
“fair market value” shall mean the average last reported sale price of the Class A common stock for the 10 trading days
ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. If our management
takes advantage of this option, the notice of redemption will contain the information necessary to calculate the number of shares
of Class A common stock to be received upon exercise of the warrants, including the “fair market value” in such case.
Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect
of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise of the warrants
after our initial business combination.

 

The right to exercise will
be forfeited unless the warrants are exercised prior to the date specified in the notice of redemption. On and after the redemption date,
a record holder of a warrant will have no further rights except to receive the redemption price for such holder’s warrant upon surrender
of such warrant.

 

The redemption criteria for
our warrants have been established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise
price and provide a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the
share price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price
of the warrants.

 

    6

     

    

 

The warrants were issued in
registered form under the Warrant Agreement, which provides that the terms of the warrants may be amended without the consent of any holder
(i) to cure any ambiguity or correct any mistake, including to conform the provisions of the Warrant Agreement to the description
of the terms of the warrants and the Warrant Agreement set forth in our final prospectus, or to cure, correct or supplement any defective
provision or (ii) to add or change any other provisions with respect to matters or questions arising under the Warrant Agreement
as the parties to the Warrant Agreement may deem necessary or desirable and that the parties deem to not adversely affect the interests
of the registered holders of the warrants, but requires the approval by the holders of at least 50% of the then outstanding public warrants
to make any change that adversely affects the interests of the registered holders of public warrants.

 

Anti-dilution Adjustments.
If the number of outstanding shares of Class A common stock is increased by a stock dividend payable in shares of Class A common
stock, or by a split-up of shares of Class A common stock or other similar event, then, on the effective date of such stock
dividend, split-up or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will
be increased in proportion to such increase in the outstanding shares of Class A common stock. A rights offering to holders of Class A
common stock entitling holders to purchase shares of Class A common stock at a price less than the historical fair market value (as
defined below) will be deemed a stock dividend of a number of shares of Class A common stock equal to the product of (i) the
number of shares of Class A common stock actually sold in such rights offering (or issuable under any other equity securities sold
in such rights offering that are convertible into or exercisable for Class A common stock) and (ii) one minus the quotient of
(x) the price per share of Class A common stock paid in such rights offering divided by (y) the historical fair market
value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for Class A common stock,
in determining the price payable for Class A common stock, there will be taken into account any consideration received for such rights,
as well as any additional amount payable upon conversion or exercise and (ii) “historical fair market value” means the volume
weighted average price of Class A common stock as reported during the ten trading day period ending on the trading day prior to the
first date on which the shares of Class A common stock trade on the applicable exchange or in the applicable market, regular way,
without the right to receive such rights.

 

In addition, if we, at any
time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the
holders of Class A common stock on account of such shares of Class A common stock (or other shares of our capital stock into
which the warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends, (c) to satisfy
the redemption rights of the holders of Class A common stock in connection with a proposed initial business combination, (d) to
satisfy the redemption rights of the holders of Class A common stock in connection with a stockholder vote to amend our amended and
restated certificate of incorporation (i) to modify the substance or timing of our obligation to allow redemptions in connection
with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination by
April 13, 2023 or (ii) with respect to any other provision relating to stockholders’ rights or pre-initial business combination
activity, or (e) in connection with the redemption of our public shares if we do not complete our initial business combination by
April 13, 2023, then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the
amount of cash and/or the fair market value of any securities or other assets paid on each share of Class A common stock in respect
of such event.

 

If the number of outstanding
shares of our Class A common stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares
of Class A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased
in proportion to such decrease in outstanding shares of Class A common stock.

 

Whenever the number of shares
of Class A common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price
will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of
which will be the number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such
adjustment, and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately
thereafter.

 

    7

     

    

 

In addition, if (x) we
issue additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with
the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of Class A common
stock (with such issue price or effective issue price to be determined in good faith by our board of directors, and in the case of any
such issuance to our initial stockholders or their affiliates, without taking into account any founder shares held by them prior to such
issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of
the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation
of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A common
stock during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination
(such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price
of the warrants will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

 

In case of any reclassification
or reorganization of the outstanding shares of Class A common stock (other than those described above or that solely affects the
par value of such shares of Class A common stock), or in the case of any merger or consolidation of us with or into another corporation
(other than a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A common stock), or in the case of any sale or conveyance to another corporation or entity of
the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders
of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in
the warrants and in lieu of the shares of our Class A common stock immediately theretofore purchasable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the
holder of the warrants would have received if such holder had exercised their warrants immediately prior to such event.

 

The warrants may be exercised
upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form
on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price,
by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have the rights
or privileges of holders of shares of common stock and any voting rights until they exercise their warrants and receive shares of Class
A common stock. After the issuance of shares of Class A common stock upon exercise of the warrants, each holder will be entitled
to one vote for each share held of record on all matters to be voted on by stockholders.

 

Under the terms of the Warrant
Agreement, we have agreed to use our commercially reasonable efforts to have declared effective a prospectus relating to the shares of
Class A common stock issuable upon exercise of the warrants and keep such prospectus current until the expiration of the warrants. However,
we cannot assure you that we will be able to do so and, if we do not maintain a current prospectus relating to the shares of Class A common
stock issuable upon exercise of the warrants, holders will be unable to exercise their warrants for cash and we will not be required to
net cash settle or cash settle the warrant exercise.

 

Warrant holders may elect
to be subject to a restriction on the exercise of their warrants such that an electing warrant holder would not be able to exercise their
warrants to the extent that, after giving effect to such exercise, such holder would beneficially own in excess of 9.8% of the shares
of common stock outstanding.

 

No fractional shares of Class
A common stock will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share,
we will round down to the nearest whole number of shares of Class A common stock to be issued to the holder.

 

    8

     

    

 

Private Placement Warrants

 

The private placement warrants
(including the shares of Class A common stock issuable upon exercise of the private placement warrants) will not be transferable, assignable
or salable until 30 days after the completion of our initial business combination (except in connection with the same limited exceptions
that the founder shares may be transferred as described above). Otherwise, the private placement warrants have terms and provisions that
are identical to those of the warrants sold as part of the units in our initial public offering except that private placement warrants
held by Stifel Venture, an affiliate of one of the underwriters of our initial public offering, will not be exercisable more than five
years from the commencement of sales of our initial public offering in accordance with FINRA Rule 5110(g)(8)(A).

 

Dividends

 

We have not paid any cash
dividends on our shares of common stock to date and do not intend to pay cash dividends prior to the completion of a business combination.
The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general
financial condition subsequent to completion of a business combination. The payment of any dividends subsequent to a business combination
will be within the discretion of our then board of directors. It is the present intention of our board of directors to retain all earnings,
if any, for use in our business operations and, accordingly, our board does not anticipate declaring any dividends in the foreseeable
future.

 

Our Transfer Agent and Warrant Agent

 

The transfer agent for our
securities and warrant agent for our warrants is Continental Stock Transfer & Trust Company, 1 State Street, New York, New York 10004.

 

Listing of our Securities

 

Our units, Class A common
stock and warrants are listed on Nasdaq under the symbols “SAMAU,” “SAMA” and “SAMAW,” respectively.

 

Certain Anti-Takeover Provisions of Delaware
Law and our Amended and Restated Certificate of Incorporation and Bylaws

 

Staggered board of directors

 

Our amended and restated certificate
of incorporation provides that our board of directors is classified into two classes of directors of approximately equal size. As a result,
in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings.
Furthermore, because our board is classified, directors may be removed only with cause by a majority of our outstanding shares.

 

Special meeting of stockholders

 

Our bylaws provide that special
meetings of our stockholders may be called only by a majority vote of our board of directors, by our Chief Executive Officer or by our
Chairman.

 

Action by Written Consent

 

Under Delaware law, stockholder
action may be taken by written consent in lieu of a meeting unless the existing charter expressly prohibits action by consent. Our amended
and restated certificate of incorporation prohibits stockholder action by written consent other than with respect to our Class B
common stock. Prohibiting action by written consent is expected to protect the company from unwarranted actions by stockholders so management
can focus on the company’s search for a business combination.

 

Advance notice requirements for stockholder proposals and director
nominations

 

Our bylaws provide that stockholders
seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual
meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder’s notice will need to
be received by the company secretary at our principal executive offices not later than the close of business on the 90th day nor earlier
than the open of business on the 120th day prior to the anniversary date of the immediately preceding annual meeting of stockholders.
Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply with the notice
periods contained therein. Our bylaws also specify certain requirements as to the form and content of a stockholders’ meeting. These
provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for
directors at our annual meeting of stockholders.

 

    9

     

    

 

Class B common stock consent right

 

For so long as any shares
of Class B common stock remain outstanding, we may not, without the prior vote or written consent of the holders of a majority of
the shares of Class B common stock then outstanding, voting separately as a single class, amend, alter or repeal any provision of
our amended and restated certificate of incorporation, whether by merger, consolidation or otherwise, if such amendment, alteration or
repeal would alter or change the powers, preferences or relative, participating, optional or other or special rights of the Class B
common stock. Any action required or permitted to be taken at any meeting of the holders of Class B common stock may be taken without
a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed
by the holders of the outstanding Class B common stock having not less than the minimum number of votes that would be necessary to
authorize or take such action at a meeting at which all shares of Class B common stock were present and voted.

 

Authorized but unissued shares

 

Our authorized but unissued
common stock and preferred stock are available for future issuances without stockholder approval and could be utilized for a variety of
corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of
authorized but unissued and unreserved common stock and preferred stock could render more difficult or discourage an attempt to obtain
control of us by means of a proxy contest, tender offer, merger or otherwise.

 

Exclusive Forum Selection

 

Our amended and restated certificate
of incorporation requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions against our directors,
officers and employees for breach of fiduciary duty and other similar actions may be brought only in the Court of Chancery in the State
of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will be deemed to have consented to service of process
on such stockholder’s counsel; provided that the exclusive forum provision will not apply to any action (A) as to which the Court
of Chancery in the State of Delaware determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery
(and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination),
(B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, (C) for which the Court of Chancery
does not have subject matter jurisdiction, or (D) arising under the Securities Act. Although we believe this provision benefits our company
by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, a court may determine
that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits
against our directors and officers, although our stockholders will not be deemed to have waived our compliance with federal securities
laws and the rules and regulations thereunder.

 

Our amended and restated certificate
of incorporation provides that the exclusive forum provision will be applicable to the fullest extent permitted by applicable law but
will not apply to suits brought to enforce any duty or liability created by the Exchange Act, the Securities Act or any other claim for
which the federal courts have exclusive jurisdiction. Section 27 of the Exchange Act creates exclusive federal jurisdiction over
all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder, and Section 22
of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits
brought to enforce any duty or liability created by the Exchange Act, the Securities Act or any other claim for which the federal courts
have exclusive jurisdiction.

 

    10

     

    

 

Section 203 of the Delaware General Corporation Law

 

We have opted out of Section
203 of the DGCL. However, our amended and restated certificate of incorporation contains similar provisions providing that we may not
engage in certain “business combinations” with any “interested stockholder” for a three-year period following
the time that the stockholder became an interested stockholder, unless:

 

		●	prior to such time, our board of directors approved either the business combination or the transaction
which resulted in the stockholder becoming an interested stockholder;

 

		●	upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder,
the interested stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, excluding certain
shares; or

 

		●	at or subsequent to that time, the business combination is approved by our board of directors and by the
affirmative vote of holders of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.

 

Generally, a “business
combination” includes a merger, asset or stock sale or certain other transactions resulting in a financial benefit to the interested
stockholder. Subject to certain exceptions, an “interested stockholder” is a person who, together with that person’s
affiliates and associates, owns, or within the previous three years owned, 15% or more of our voting stock.

 

Under certain circumstances,
this provision will make it more difficult for a person who would be an “interested stockholder” to effect various business
combinations with a corporation for a three-year period. This provision may encourage companies interested in acquiring our company
to negotiate in advance with our board of directors because the stockholder approval requirement would be avoided if our board of directors
approves either the business combination or the transaction which results in the stockholder becoming an interested stockholder. These
provisions also may have the effect of preventing changes in our board of directors and may make it more difficult to accomplish transactions
which stockholders may otherwise deem to be in their best interests.

 

Our amended and restated certificate
of incorporation provides that our sponsor and its affiliates, any of its direct or indirect transferees of at least 15% of our outstanding
common stock and any group of which such persons are a part of do not constitute “interested stockholders” for purposes of
this provision.

 

Limitation on Liability and Indemnification
of Directors and Officers

 

Our amended and restated certificate
of incorporation provides that our directors and officers will be indemnified by us to the fullest extent authorized by Delaware law as
it now exists or may in the future be amended. In addition, our amended and restated certificate of incorporation provides that our directors
will not be personally liable for monetary damages to us for breaches of their fiduciary duty as directors, unless they violated their
duty of loyalty to us or our stockholders, acted in bad faith, knowingly or intentionally violated the law, authorized unlawful payments
of dividends, unlawful stock purchases or unlawful redemptions, or derived an improper personal benefit from their actions as directors.

 

We have entered into agreements
with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our amended
and restated certificate of incorporation. Our bylaws also permit us to secure insurance on behalf of any officer, director or employee
for any liability arising out of his or her actions, regardless of whether Delaware law would permit indemnification. We have purchased
a policy of directors’ and officers’ liability insurance that insures our directors and officers against the cost of defense,
settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify the directors and officers.

 

These provisions may discourage
stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. These provisions also may have the effect
of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise
benefit us and our stockholders. Furthermore, a stockholder’s investment may be adversely affected to the extent we pay the costs
of settlement and damage awards against directors and officers pursuant to these indemnification provisions. We believe that these provisions,
the insurance and the indemnity agreements are necessary to attract and retain talented and experienced directors and officers.

 

Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing
provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable.

 

 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]