Document:

Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT 

WESTERN ACQUISITION VENTURES CORP.

 

This Investment Management
Trust Agreement (this “Agreement”) is made effective as of January 11, 2022, by and between Western Acquisition Ventures
Corp., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited
liability trust company (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, File No. 333-260384 (the “Registration Statement”) and prospectus (the “Prospectus”)
for the initial public offering of the Company’s units (the “Units”), each of which consists of one share of the Company’s
common stock, par value $0.0001 per share (the “Common Stock”), and one redeemable warrant to purchase one (1) share
of Common Stock at a price of $11.50 per whole share, subject to adjustment (such initial public offering hereinafter referred to as the
 “Offering”), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission (the “SEC”);

 

WHEREAS, the Company
has entered into an Underwriting Agreement, dated January 11, 2022 (the “Underwriting Agreement”), with A.G.P./Alliance
Global Partners (“A.G.P.”), as representative (the “Representative”) of the several underwriters named therein
(the “Underwriters”);

 

WHEREAS, as described
in the Prospectus, $100,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting
Agreement) (or $115,000,000, if the Underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to
be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”) for the
benefit of the Company, the holders of the Common Stock included in the Units issued in the Offering, and the Underwriters, as hereinafter
provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,”
the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,” and
the Public Stockholders, the Company and the Underwriters will be referred to together as the “Beneficiaries”);

 

WHEREAS, pursuant to
the Underwriting Agreement, the Company will pay A.G.P. an underwriting fee of $500,000 upon completion of the Offering. As an additional
underwriting fee, Western Acquisition Ventures Sponsor LLC, the sponsor of the Company, previously transferred to A.G.P. 750,000 shares
of Common Stock (97,826 of which are subject to forfeiture, as further described in the Registration Statement). The Company will pay
A.G.P. an advisory fee of 4.5% of the proceeds from the Offering, payable in cash at consummation of a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination (the “Business Combination”) by the
Company (it being understood that, if the Business Combination does not occur, then A.G.P. shall not be entitled to such advisory fee)
(the “Business Combination Fee”); and

 

WHEREAS, the Company
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the
Property.

 

NOW THEREFORE, IT
IS AGREED:

 

1.
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a) Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated Trust Account, which Trust
Account shall be established by the Trustee in the United States at J.P. Morgan Chase Bank, N.A., maintained by the Trustee, and at a
brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

(b) Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c) In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”),
having a maturity of 180 days or less, or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the
Investment Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined by the Company, it being understood
that the Trustee has no obligation to monitor or question the Company’s determination that an investment is in compliance with the
foregoing clause; Company shall not instruct the Trustee to invest in any other securities or assets;

 

     

     

    

 

(d) Collect
and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e) Promptly
notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring action
by the Company;

 

(f) Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of its tax
returns, or in connection with the preparation or completion of the audit of the Company’s financial statements by the Company’s
auditors;

 

(g) Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the
Company to do so;

 

(h) Render
to the Company, and to such other person as the Company may instruct, monthly written statements of the activities of, and amounts in,
the Trust Account reflecting all receipts and disbursements of the Trust Account;

 

(i) Commence
liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter
from the Company (the “Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A
or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, President,
Vice President, Secretary or Chairman of the board of directors of the Company (the “Board”) or other authorized officer of
the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest earned
on the funds held in the Trust Account (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses
in the case of a Termination Letter in the form of Exhibit B hereto), only as directed in the Termination Letter and the other documents
referred to therein, or (y) upon the date which is, the later of (1) 12 months (or up to 18 months, as described in the Company’s
amended and restated certificate of incorporation (the “Amended and Restated Certificate of Incorporation”)) after the closing
of the Offering and (2) such later date as may be approved by the Company’s stockholders in accordance with the Company’s
Amended and Restated Certificate of Incorporation if a Termination Letter has not been received by the Trustee prior to such date, in
which case the Trust Account shall be liquidated in accordance with the procedures set forth in the form of letter attached hereto as
Exhibit B and the Property in the Trust Account, including interest earned on the funds in the Trust Account (less up to $100,000
of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record
as of such date; provided, however, that in the event the Trustee receives a Termination Letter in a form substantially similar
to Exhibit B hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination Letter by the
date specified in clause (y) of this Section 1(i), the Trustee shall keep the Trust Account open until twelve (12) months following
the date the Property has been distributed to the Public Stockholders;

 

(j) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C,
withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to
cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property,
which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment, and the Company
shall forward such payment to the relevant taxing authority; provided, however, that to the extent there is not sufficient
cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated
by the Company in writing to make such distribution so long as there is no reduction in the principal amount initially deposited in the
Trust Account (it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not be
payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the Company
is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

     

     

    

 

(k) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D,
the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem shares of Common Stock
from Public Stockholders properly submitted for redemption in connection with a stockholder vote to approve: (i) an amendment to
the Amended and Restated Certificate of Incorporation to modify the substance or timing of the ability of Public Stockholders to seek
redemption in connection with an initial Business Combination or the Company’s obligation to redeem 100% of its public shares of
Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Amended and Restated
Certificate of Incorporation, or (ii) an amendment with respect to any other provision of the Amended and Restated Certificate of
Incorporation relating to stockholders’ rights or pre-initial Business Combination activity. The written request of the Company
referenced above shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have
no responsibility to look beyond said request; and

 

(l) Not
make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j), (k) or (l) above.

 

2.
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, Chief
Financial Officer, President, Executive Vice President, Vice President, or Secretary. In addition, except with respect to its duties under
Sections 1(i), 1(j), 1(k) and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any
verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons
authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b) Subject
to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all documented out-of-pocket expenses,
including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by
it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving
any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the
Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s
gross negligence, fraud, or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the
right to conduct and manage the defense against such Indemnified Claim; provided, that the Trustee shall obtain the consent of
the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle
any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company
may participate in such action with its own counsel;

 

(c) Pay
the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and transaction
processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property
shall not be used to pay such fees unless and until the closing of the Business Combination. The Company shall pay the Trustee the initial
acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the
annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall
not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be
provided in Section 2(b) hereof;

 

(d) In
connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit or
certificate of the inspector of elections for the stockholder meeting verifying the vote of such stockholders regarding such Business
Combination;

 

(e) Provide
the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

     

     

    

 

(f) Unless
otherwise agreed between the Company and the Representative, ensure that any Instruction Letter (as defined in Exhibit A) delivered
in connection with a Termination Letter in the form of Exhibit A expressly provides that the Business Combination Fee is paid directly
to the account or accounts directed by the Representative prior to any transfer of the funds held in the Trust Account to the Company
or any other person;

 

(g) Instruct
the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make
any distributions that are not permitted under this Agreement; and

 

(h) Within
four (4) business days after the Underwriters exercise their over-allotment option in connection with the Offering (or any unexercised
portion thereof) or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Business Combination
Fee, as defined above.

 

3.
Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a) Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement
and that which is expressly set forth herein;

 

(b) Take
any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any
third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, and in no event shall
the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a result of
the liquidation of any such investment prior to its maturity date or the failure of the Company to provide timely written investment instruction;

 

(c) Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind
with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to
do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d) Refund
any depreciation in principal of any Property;

 

(e) Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise
in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f) The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The
Trustee 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 Trustee, which counsel may be the Company’s counsel), 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 the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed
by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent
thereto;

 

(g) Verify
the correctness of the information set forth in the Registration Statement;

 

(h) Provide
any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by
the Registration Statement;

 

(i) File
information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements
to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

     

     

    

 

(j) Prepare,
execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating
to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, income
tax obligations, except pursuant to Section 1(j) hereof; or

 

(k) Verify
calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j), 1(k) or
1(l) hereof.

 

4.
Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it
may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company and its
assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

5.
Termination. This Agreement shall terminate as follows:

 

(a) If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts
to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the
Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms
of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited
to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that in the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York
or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from
any liability whatsoever; or

 

(b) At
such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions of
Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Section 2(b).

 

6.
Miscellaneous.

 

(a) The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures
to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall
rely upon all information supplied to it by the Company, including, account names, account numbers, and all other identifying information
relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s
gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or out-of-pocket expense resulting
from any error in the information or transmission of the funds.

 

(b) 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. This Agreement may
be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute
but one instrument.

 

(c) This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Subject to
Section 6(d), this Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical
error) by a writing signed by each of the parties hereto.

 

     

     

    

 

(d) This
Agreement or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the Consent
of the Stockholders. For purposes of this Section 6(d), the “Consent of the Stockholders” means receipt by the Trustee
of a certificate from the inspector of elections of the stockholder meeting certifying that the Company’s stockholders of record
as of a record date established in accordance with Section 213(a) of the Delaware General Corporation Law, as amended (“DGCL”)
(or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock, of the Company
voting together as a single class, have voted in favor of such change, amendment or modification. No such amendment will affect any Public
Stockholder who has otherwise properly indicated his election to redeem his shares of Common Stock in connection with such stockholder
vote. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee may rely
conclusively on the certification from the inspector or elections referenced above and shall be relieved of all liability to any party
for executing the proposed amendment in reliance thereon.

 

(e) The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York,
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.

 

(f) 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 or by electronic
mail:

 

if to the Trustee, to: 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, NY 11219 

Attn: Relationship Management 

Email: admin12@astfinancial.com

 

if to the Company, to: 

Western Acquisition
Ventures Corp. 

42 Broadway, 12th
Floor 

New York, New York
10004 

Attention: Stephen
Christoffersen 

Email: schristoffersen@westacqventures.com

 

in each case, with copies to: 

Reed Smith LLP 

599 Lexington Avenue 

New York, NY 10022 

Attention: Aron
Izower, Esq., Wendy Grasso, Esq. and Marc Hauser, Esq. 

Email: AIzower@reedsmith.com;
WGrasso@reedsmith.com; MHauser@reedsmith.com

 

(g) Each
of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make
any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account
under any circumstance.

 

(h) This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation
and agreement of such parties and shall not be construed for or against any party hereto.

 

(i) This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.

 

     

     

    

 

(j) Each
of the Company and the Trustee hereby acknowledges and agrees that the Underwriters are a third party beneficiaries of this Agreement.

 

(k) Except
as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity.

 

[Signature page follows]

 

     

     

    

 

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

 

	 	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, as Trustee
	 	 	 
	 	 	 
	 	By	/s/ Barbara J. Robbins
	 	 	Name:  Barbara J. Robbins
	 	 	Title:  SR Vice President
	 	 	 
	 	 	 
	 	WESTERN ACQUISITION VENTURES CORP.
	 	 	 
	 	 	 
	 	By	/s/ Stephen Christoffersen
	 	 	Name:  Stephen Christoffersen
	 	 	Title:  Chief Executive Officer

 

[Signature Page to Investment Management
Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee.	 	Initial closing of Offering by wire transfer.	 	$	4,000	 
	Trustee administration fee	 	Payable annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.	 	$	8,000	 
	Transaction processing fee for disbursements to Company under Sections 1(i), (j), (k) and (l)	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 1	 	$	150	 
	Paying Agent services as required pursuant to Section 1(i), (j), (k) and (l) 	 	Billed to Company upon delivery of service pursuant to Section 1(i), (j), (k) and (l)	 	 	Prevailing rates	 

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue | 

Brooklyn, NY 11219 

Attn: Relationship Management

 

		Re:	Trust Account No. Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Acquisition Corp. (the “Company”) and American Stock Transfer &
Trust Company, LLC (the “Trustee”), dated as of January 11, 2022 (the “Trust Agreement”), this is to advise
you that the Company has entered into an agreement with ___________________ (the “Target Business”) to consummate a business
combination with Target Business (the “Business Combination”) on or about [insert date]. The Company shall notify you at least
forty-eight (48) hours (or such shorter time as you may agree) in advance of the actual date fixed for the consummation of the Business
Combination (the “Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in
the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account on [insert date], such
that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or
accounts that the Company shall direct on the Consummation Date (including as directed to it by the Representative (with respect to the
Business Combination Fee)). It is acknowledged and agreed that while the funds are on deposit in the Trust Account awaiting distribution,
the Company will not earn any interest or dividends.

 

On the Consummation Date (i) counsel
for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated substantially
concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”) and (ii) the
Company shall deliver to you (a) a certificate of its Chief Executive Officer (the “Vote Verification Certificate”),
which verifies either that (i) the Business Combination has been approved by a vote of the Company’s stockholders, if a vote
is held or (ii) no vote of the Company’s stockholders for the approval of the Business Combination is required and none has
been held, and (b) a joint written instruction signed by the Company and the Representative with respect to the transfer of the funds
held in the Trust Account, including payment of amounts owed to Public Stockholders who have properly exercised their redemption rights
and payment of the Business Combination Fee to the Representative from the Trust Account (the “Instruction Letter”). You are
hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification, the
Vote Verification Certificate and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain
deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing
of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the
Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses
related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by you of written instructions from the Company, the funds held
in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following such original Consummation Date as set forth in such notice or as soon thereafter as possible.

 

     

     

    

 

	 	
    Very truly yours,

	 	 
	 	Western Acquisition Ventures Corp.
	 	 
	 	By 	 
	 	 	Name:
	 	 	Title:

		cc:	A.G.P./Alliance Global Partners 

 

     

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, NY 11219 

Attn: Relationship Management

 

		Re:	Trust Account No. Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Western Acquisition Ventures Corp. (the “Company”) and American Stock Transfer &
Trust Company, LLC (the “Trustee”), dated as of January 11, 2022 (the “Trust Agreement”), this is to advise
you that the Company has been unable to effect a Business Combination within the time frame specified in the Company’s Amended and
Restated Certificate of Incorporation, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used
but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account on ____________, 20__ and keep the
total proceeds thereof in the Trust Account to await distribution to the Public Stockholders. The Company has selected July ___,
2023 as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the
liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said
funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses
related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise
provided in Section 1(i) of the Trust Agreement.

 

	 	Very truly yours,
	 	 
	 	Western Acquisition Ventures Corp.
	 	 
	 	By 	 
	 	 	Name:
	 	 	Title:

		cc:	A.G.P./Alliance Global Partners 

 

     

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, NY 11219 

Attn: Relationship Management

 

		Re:	Trust Account No. Tax Withdrawal Instruction

 

Ladies and Gentlemen:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between Western Acquisition Ventures Corp. (the “Company”) and American Stock Transfer &
Trust Company, LLC (the “Trustee”), dated as of January 11, 2022 (the “Trust Agreement”), the Company hereby
requests that you deliver to the Company $______________ of the interest income earned on the Property as of the date hereof. Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds
to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	Western Acquisition Ventures Corp.
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

	
    cc:
	
    A.G.P./Alliance Global Partners

 

     

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, NY 11219 

Attn: Relationship Management

 

		Re:	Trust Account No. Stockholder Redemption Withdrawal Instruction

 

Gentlemen:

 

Pursuant to Section 1(k) of
the Investment Management Trust Agreement between Western Acquisition Ventures Corp. (the “Company”) and American Stock Transfer &
Trust Company, LLC (the “Trustee”), dated as of January ___, 2022 (the “Trust Agreement”), the Company hereby
requests that you deliver $_____________ of the principal and interest income earned on the Property as of the date hereof to a segregated
account held by you on behalf of Public Stockholders who have properly elected to have their shares of Common Stock that were sold by
the Company in the Offering (the “Public Shares”) redeemed by the Company as described below. Capitalized terms used but not
defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds
to pay the Public Stockholders who have properly elected to have their Public Shares redeemed by the Company in connection with a stockholder
vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation to modify the substance or timing
of the ability of Public Stockholders to seek redemption in connection with an initial Business Combination or the Company’s obligation
to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within such time as is described
in the Company’s Amended and Restated Certificate of Incorporation or to affect provisions of the Company’s Amended and Restated
Certificate of Incorporation relating to the Company’s pre-initial Business Combination activity or related stockholder rights.
As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
a segregated account held by you on behalf of such Public Stockholders.

 

	 	Very truly yours,
	 	 
	 	Western Acquisition Ventures Corp.
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:

		cc:	A.G.P./Alliance Global PartnersExhibit 10.3

 

REGISTRATION RIGHTS AGREEMENT

WESTERN ACQUISITION VENTURES CORP.

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of January 11, 2022, is made and entered into by and among each of Western
Acquisition Ventures Corp., a Delaware corporation (the “Company”), Western Acquisition Ventures Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2
of this Agreement, including, without limitation, A.G.P./Alliance Global Partners, Inc., a Delaware corporation (each, a “Holder”
and collectively, the “Holders”).

 

RECITALS

 

WHEREAS, On June 9,
2021, the Sponsor purchased 4,312,500 of the Company’s Common Stock (“Common Stock”) for an aggregate purchase price
of $25,000, which includes 1,207,500 shares of Common Stock transferred to A.G.P./Alliance Global Partners (“A.G.P.”) after
issuance (up to 157,500 shares of which are subject to forfeiture to the extent that the underwriters’ over-allotment option in
the Company’s initial public offering (the “IPO”) is not exercised in full or in part). On November 22, 2021, the
Company effected a 2:3 split of its Common Stock, and A.G.P. sold back to the Sponsor 55,000 founder shares for $478.26, such that the
Sponsor owns 2,125,000 founder shares, and A.G.P. owns 750,000 founder shares (of which 277,174 founder shares and 97,826 founder shares,
respectively, are subject to forfeiture to the extent that the over-allotment option is not exercised in full or in part so that the initial
stockholders will collectively own 20% of the Company’s issued and outstanding shares after this offering).

 

WHEREAS, the Sponsor
has entered into a unit subscription agreement with the Company (the “Placement Unit Subscription Agreement”), pursuant to
which the Sponsor agreed to purchase 361,000 units (or up to 376,000 units depending on the extent to which the underwriters’ over-allotment
option is exercised) of the Company (each, a “Placement Unit” and collectively, the “Placement Units”), each Placement
Unit consisting of one share of Common Stock (each, a “Placement Share” and collectively, the “Placement Shares”)
and one redeemable warrant, with each warrant entitling the holder to purchase one share of Common Stock at a price of $11.50 per whole
share, subject to adjustment (each, a “Placement Warrant” and collectively, the “Placement Warrants”), in a private
placement transaction occurring simultaneously with the closing of the IPO;

 

WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below), the Sponsor,
or an affiliate of the Sponsor or certain of the Company’s officers and directors, may loan to the Company funds as the Company
may require, which loans may be convertible into units (“Working Capital Units”) at a price of $10.00 per unit, each unit
consisting of one share of Common Stock and one redeemable warrant; and

 

WHEREAS, the Company
and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights
with respect to certain securities of the Company, as set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

1.1
         Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective
meanings set forth below:

 

		(i)	“Adverse Disclosure” shall mean any public disclosure
of material non-public information, of which disclosure, in the good faith judgment of the Board or the Chairman, Chief Executive Officer
or principal financial officer of the Company, after consultation with counsel to the Company: (i) would be required to be made in any
Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any Prospectus
and any preliminary Prospectus, in the light of the circumstances under which they were made) not misleading; (ii) would not be
required to be made at such time if the Registration Statement were not being filed, and (iii) the Company has a bona fide business
purpose for not making such information public.

 

     

     

    

 

		(ii)	“Agreement” shall have the meaning given in the Preamble.

 

		(iii)	“Board” shall mean the Board of Directors of the Company.

 

		(iv)	“Business Combination” shall mean any merger, capital stock exchange, asset acquisition, stock
purchase, reorganization, or similar business transaction with one or more businesses involving the Company.

 

		(v)	“Business Day” shall mean any day, other than a Saturday or a Sunday, that is neither a legal
holiday nor a day on which banking institutions are generally authorized or required by law or regulation to close in the City of New
York, New York.

 

		(vi)	“Commission” shall mean the Securities and Exchange Commission.

 

		(vii)	“Common Stock” shall have the meaning given in the Recitals hereto.

 

		(viii)	“Company” shall have the meaning given in the Preamble.

 

		(ix)	“Demand Registration” shall have the meaning given in subsection 2.1.1.

 

		(x)	“Demanding Holders” shall have the meaning given in subsection 2.1.1.

 

		(xi)	“Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time
to time.

 

		(xii)	“Form S-1” shall have the meaning given in subsection 2.1.1.

 

		(xiii)	“Form S-3” shall have the meaning given in subsection 2.3.

 

		(xiv)	“Founder Shares” shall have the meaning given in the Recitals hereto.

 

		(xv)	“Founder Shares Lock-up Period” shall mean, with respect to the Founder Shares, the period
beginning on the later of: (i) one year after the date that the registration statement for the IPO is declared effective by the SEC;
and (ii) the consummation by the Company of its initial business combination, and terminating on the five-year anniversary of the
completion of its initial business combination; provided, in each case, that the Company has an effective registration statement under
the Securities Act covering the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to such
shares of common stock is available (or the Company permits holders to exercise their warrants on a cashless basis under the circumstances
specified in the warrant agreement).

 

		(xvi)	“Holders” shall have the meaning given in the Preamble.

 

		(xvii)	“IPO” shall have meaning set forth in the Recitals hereto.

 

    	 	- 2 -	 

     

    

 

		(xviii)	“Letter Agreement” shall mean that certain letter agreement dated as of January 11, 2022
by and among the Company, the Sponsor, and each of the Company’s officers, directors, and director nominees.

 

		(xix)	“Maximum Number of Securities” shall have the meaning given in subsection 2.1.4.

 

		(xx)	“Misstatement” shall mean an untrue statement of a material fact or an omission to state a
material fact required to be stated in a Registration Statement, or Prospectus, or necessary to make the statements in a Registration
Statement, or Prospectus (in the case of a Prospectus in the light of the circumstances under which they were made) not misleading.

 

		(xxi)	“Permitted Transferees” shall mean any person or entity to whom a Holder of Registrable Securities
is permitted to transfer such Registrable Securities prior to the expiration of the Founder Shares Lock-up Period or Placement Unit Lock-up
Period, as the case may be, under the Letter Agreement, the Placement Unit Subscription Agreements and any other applicable agreement
between such Holder and the Company, and to any transferee thereafter.

 

		(xxii)	“Piggy-back Registration” shall have the meaning given in Section 2.2.1.

 

		(xxiii)	“Placement Share” or “Placement Shares” shall have the meaning given in the Recitals
hereto.

 

		(xxiv)	“Placement Unit Lock-up Period” shall mean, with respect to the Placement Units, Placement
Shares, Placement Warrants, and any of the shares of Common Stock issued or issuable upon the exercise of such Placement Warrants, a period
beginning on the date of the issuance of the Placement Units (including Placement Shares, Placement Warrants, and any of the shares of
Common Stock issued or issuable upon the exercise of such Placement Warrants) and terminating 30 days after the consummation of a Business
Combination, subject to certain exceptions set forth in the Letter Agreement and the Placement Unit Subscription Agreements.

 

		(xxv)	“Placement Unit” or “Placement Units” shall have the meaning given in the Recitals
hereto.

 

		(xxvi)	“Placement Warrant” or “Placement Warrants” shall have the meaning given in the
Recitals hereto.

 

		(xxvii)	“Pro Rata” shall have the meaning given in Section 2.1.4.

 

		(xxviii)	“Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented
by any and all prospectus supplements and as amended by any and all post-effective amendments, and including all materials incorporated
by reference in such prospectus.

 

		(xxix)	“Prospectus Date” shall mean the date of the final Prospectus filed with the Commission and
relating to the IPO.

 

		(xxx)	“Registrable Security” shall mean: (a) the Founder
Shares; (b) the Placement Warrants (including any shares of Common Stock issued or issuable upon the exercise of any such Placement
Warrants); (c) the Placement Shares; (d) any outstanding shares of Common Stock or any other equity security (including the
Common Stock issued or issuable upon the exercise of any other equity security) held by a Holder as of the date of this Agreement; (e) any
equity securities (including the shares of Common Stock issued or issuable upon the exercise of any such equity security) of the Company
issuable upon conversion of any working capital loans made to the Company by a Holder (including the Working Capital Units and any shares
of Common Stock issuable upon the exercise of the warrants included in the Working Capital Units); and, (f) any other equity security
of the Company issued or issuable with respect to any such shares of Common Stock by way of a stock dividend or stock split or in connection
with a combination of stock, acquisition, recapitalization, consolidation, reorganization, stock exchange, stock reconstruction, and
amalgamation or contractual control arrangement with, purchasing all or substantially all of the assets of, or engagement in any other
similar transaction; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable
Securities when: (i) a Registration Statement with respect to the sale of such securities shall have become effective under the
Securities Act, at the earlier of: (A) one year following the date the Registration Statement is declared effective, or (B) the
date that such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement;
(ii) such securities may otherwise be transferred, new certificates for such securities not bearing a legend restricting further
transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (iii) such securities shall have ceased to be outstanding; (iv) such securities have been sold to,
or through, a broker, dealer or underwriter in a public distribution or other public securities transaction; or, (v) such securities
have been sold without registration pursuant to Section 4(a)(1) of the Securities Act or Rule 144 or Rule 145 promulgated
under the Securities Act (or any successor rule promulgated thereafter by the Commission).

 

    	 	- 3 -	 

     

    

 

		(xxxi)	“Registration” shall mean a registration effected
by preparing and filing a Registration Statement or similar document in compliance with the requirements of the Securities Act, and the
applicable rules and regulations promulgated thereunder, and such Registration Statement becoming effective.

 

		(xxxii)	“Registration Expenses” shall mean the out-of-pocket
expenses of a Registration, including, without limitation, the following:

 

		(a)	all registration and filing fees (including fees with respect to filings required to be made with the
Financial Industry Regulatory Authority, Inc. (“FINRA”) and any securities exchange on which the Common Stock is then
listed);

		(b)	fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements
of counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities);

		(c)	printing, messenger, telephone, and delivery expenses;

		(d)	reasonable fees and disbursements of counsel for the Company;

		(e)	reasonable fees and disbursements of all independent registered public accountants of the Company incurred
specifically in connection with such Registration, and

		(f)	reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of the
Demanding Holders initiating a Demand Registration to be registered for offer and sale in the applicable Registration.

 

		(xxxiii)	“Registration Statement” shall mean any registration
statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such
registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits
to and all materials incorporated by reference in such registration statement.

 

		(xxxiv)	“Requesting Holder” shall have the meaning given in
subsection 2.1.1.

 

		(xxxv)	“Securities Act” shall mean the U.S. Securities Act
of 1933, as amended from time to time.

 

		(xxxvi)	“Sponsor” shall have the meaning given in the Preamble.

 

		(xxxvii)	“Underwriter” shall mean a securities dealer who purchases
any Registrable Securities as principal in an Underwritten Offering, and not as part of such dealer’s market-making activities.

 

		(xxxviii)	“Underwritten Registration” or “Underwritten
Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting
for distribution to the public.

 

		(xxxix)	“Working Capital Units” shall have the meaning given
in the Recitals hereto.

 

    	 	- 4 -	 

     

    

 

ARTICLE II

REGISTRATIONS

 

		2.1	Demand Registration.

 

		2.1.1	Request for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4
                                                                                                          hereof, at any time and from time to time on or after the date the Company consummates the Business Combination, the Holders of a
                                                                                                          majority-in-interest of the then outstanding number of Registrable Securities (the “Demanding Holders”), may make a
                                                                                                          written demand for Registration under the Securities Act of all or part of their Registrable Securities, which written demand shall
                                                                                                          describe the amount and type of securities to be included in such Registration and the intended method(s) of distribution thereof
                                                                                                          (such written demand a “Demand Registration”). The Company shall, within ten (10) days of the Company’s receipt of
                                                                                                          the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of
                                                                                                          Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in a
                                                                                                          Registration pursuant to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable
                                                                                                          Securities in such Registration, a “Requesting Holder”) shall so notify the Company, in writing, within five (5)
                                                                                                          Business Days after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written
                                                                                                          notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable
                                                                                                          Securities included in a Registration pursuant to a Demand Registration and the Company shall, not more than forty five (45) days
                                                                                                          after the Company’s receipt of the Demand Registration, file a Registration Statement on Form S-1 or any similar long-form
                                                                                                          registration statement that may be available at that time (“Form S-1”) with respect to all Registrable Securities
                                                                                                          requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration, and shall use its reasonable best
                                                                                                          efforts to cause such Registration Statement to be declared effective by the Commission as soon as practicable thereafter; provided,
                                                                                                          however, that the Company may use a Registration Statement on Form S-3 or any successor form thereto if the Company would qualify to
                                                                                                          use such form within 30 days after the date on which the initial demand request is given and the Company shall not be required to
                                                                                                          file such Registration Statement until it is so qualified. Under no circumstances shall the Company be obligated to effect more than
                                                                                                          an aggregate of three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all
                                                                                                          Registrable Securities; provided, however, that a Registration shall not be counted for such purposes unless a Registration
                                                                                                          Statement has become effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf
                                                                                                          of the Requesting Holders in such Demand Registration have been sold in accordance with Section 3.1 of this Agreement.

 

		2.1.2	Effective Registration. Notwithstanding the provisions
of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration shall not count as a
Registration unless and until: (i) the Registration Statement filed with the Commission with respect to a Registration pursuant
to a Demand Registration has been declared effective by the Commission, and (ii) the Company has complied with all of its obligations
under this Agreement with respect thereto; provided, however, that if after such Registration Statement has been declared effective,
an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently interfered with by any stop
order or injunction of the Commission, federal or state court or any other governmental agency, the Registration Statement with respect
to such Registration shall be deemed not to have been declared effective, unless and until, (x) such stop order or injunction is
removed, rescinded or otherwise terminated, and (y) a majority-in-interest of the Demanding Holders initiating such Demand Registration
thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing, but in no event later
than five (5) days, of such election; and, provided, further, that the Company shall not be obligated or required to file another
Registration Statement until the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand
Registration becomes effective or is subsequently terminated.

 

    	 	- 5 -	 

     

    

 

		2.1.3	Underwritten Offering. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof,
if a majority-in-interest of the Demanding Holders so advise the Company as part of their Demand Registration that the offering of the
Registrable Securities pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding
Holder or Requesting Holder (if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s
participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering
to the extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering
under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten
Offering by a majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

		2.1.4	Reduction of Underwritten Offering. If the managing Underwriter
or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises the Company, the Demanding
Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding
Holders and the Requesting Holders (if any) desire to sell, taken together with all other shares of Common Stock or other equity securities
that the Company desires to sell and the shares of Common Stock, if any, as to which a Registration has been requested pursuant to separate
written contractual piggy-back registration rights held by any other stockholders who desire to sell, exceeds the maximum dollar amount
or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number
of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such Underwritten
Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata
based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included
in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders
have collectively requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (i), the Registrable Securities of Holders (Pro Rata, based on the respective number
of Registrable Securities that each Holder has so requested) exercising their rights to register their Registrable Securities pursuant
to subsection 2.2.1 hereof, which can be sold without exceeding the Maximum Number of Securities; (iii) third, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii),the shares of Common Stock or other
equity securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Securities; and (iv) fourth,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii) and (iii), the shares
of Common Stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant
to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities.

 

    	 	- 6 -	 

     

    

 

		2.1.5	Demand Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right in their sole discretion to withdraw from a Registration pursuant to such Demand Registration upon written notification to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

		2.2	Piggy-back Registration.

 

		2.2.1	Piggy-back Rights. If, at any time on or after the date the Company consummates a Business Combination,
the Company proposes to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities
or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of
stockholders of the Company (or by the Company and by the stockholders of the Company including, without limitation, pursuant to Section 2.1
hereof), other than a Registration Statement: (i) filed in connection with any employee stock option or other benefit plan; (ii) for
an exchange offer, as part of a merger, consolidation or similar transaction or for an offering of securities solely to the Company’s
existing stockholders; (iii) for an offering of debt that is convertible into equity securities of the Company; or, (iv) for
a dividend reinvestment plan, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable
Securities as soon as practicable but not less than ten (10) days before the anticipated filing date of such Registration Statement,
which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of
the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may
request in writing within five (5) Business Days after receipt of such written notice (such Registration a “Piggy-back Registration”).
The Company shall, in good faith, cause such Registrable Securities to be included in such Piggy-back Registration and shall use its best
efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.2.1 to be included in a Piggy-back Registration on the same terms and conditions as any similar
securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in
accordance with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities
through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected
for such Underwritten Offering by the Company. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration
at any time in its sole discretion.

 

    	 	- 7 -	 

     

    

 

		2.2.2	Reduction of Piggy-back Registration. If the managing Underwriter
or Underwriters in an Underwritten Registration that is to be a Piggy-back Registration, in good faith, advises the Company and the Holders
of Registrable Securities participating in the Piggy-back Registration in writing that the dollar amount or number of the shares of Common
Stock that the Company desires to sell, taken together with: (i) the shares of Common Stock, if any, as to which Registration has
been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable Securities
hereunder; (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2.1 hereof; and,
(iii) the shares of Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back
registration rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

		(a)	If the Registration is undertaken for the Company’s account, the Company shall include in any such
Registration: (A) first, the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold
without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been
reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities
pursuant to subsection 2.2.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and, (C) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common
Stock, if any, as to which Registration has been requested pursuant to written contractual piggy-back registration rights of other stockholders
of the Company, which can be sold without exceeding the Maximum Number of Securities; and,

		(b)	If the Registration is pursuant to a request by persons or entities
other than the Holders of Registrable Securities, then the Company shall include in any such Registration: (A) first, the shares
of Common Stock or other equity securities, if any, of such requesting persons or entities other than the Holders of Registrable Securities,
which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their
Registrable Securities pursuant to subsection 2.2.1, Pro Rata, which can be sold without exceeding the Maximum Number of Securities;
(C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B),
the shares of Common Stock or other equity securities that the Company desires to sell which can be sold without exceeding the Maximum
Number of Securities; and, (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(A), (B) and (C), the shares of Common Stock or other equity securities for the account of other persons or entities that the Company
is obligated to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without
exceeding the Maximum Number of Securities.

 

		2.2.3	Piggy-back Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw
from a Piggy-back Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of his, her or its intention to withdraw from such Piggy-back Registration prior to the effectiveness of the Registration Statement
filed with the Commission with respect to such Piggy-back Registration. The Company (in its sole discretion or as the result of a request
for withdrawal by persons pursuant to separate written contractual obligations) may postpone or withdraw the filing or effectiveness of
a Piggy-back Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with the Piggy-back Registration prior to its withdrawal under this subsection 2.2.3.

 

    	 	- 8 -	 

     

    

 

		2.2.4	Unlimited Piggy-back Registration Rights. For purposes of clarity, any Registration effected pursuant
to Section 2.2 hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof;
provided, however, that the rights to demand a Piggy-back Registration under this Section 2.2 shall terminate on the second anniversary
of the consummation of the Business Combination.

 

2.3
         Registrations on Form S-3. Provided that the Company has
qualified for the use of a Registration Statement on Form S-3 or any successor form thereto, any Holder of Registrable Securities
may, at any time, and from time to time, request in writing that the Company, pursuant to Rule 415 under the Securities Act (or
any successor rule promulgated thereafter by the Commission), register the resale of any or all of their Registrable Securities
on Form S-3 or any similar short-form Registration Statement that may be available at such time (“Form S-3”); provided,
however, that the Company shall not be obligated to effect such request through an Underwritten Offering. Within ten (10) days of
the Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3,
the Company shall promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities,
and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities
in such Registration on Form S-3 shall so notify the Company, in writing, within five (5) days after the receipt by the Holder
of the notice from the Company. As soon as practicable thereafter, but not more than thirty (30) days after the Company’s initial
receipt of such written request for a Registration on Form S-3, the Company shall file a Registration Statement on Form S-3
with respect to the Registrable Securities of such Holder(s) as are specified in such written request, together with all or such
portion of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written notification
given by such Holder or Holders, and shall use its reasonable best efforts to cause such Registration Statement to be declared effective
by the Commission as soon as practicable thereafter; provided, however, that the Company shall not be obligated to effect any such Registration
pursuant to Section 2.3 hereof if: (i) a Form S-3 is not available for such offering; or (ii) the Holders of Registrable
Securities, together with the Holders of any other equity securities of the Company entitled to inclusion in such Registration, propose
to sell the Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less than $10,000,000.
The rights to demand Registration on Form S-3 under this Section 2.3 shall terminate on the third anniversary of the Business
Combination.

 

2.4
         Restrictions on Registration Rights. The Company shall not be obligated to effect any Demand Registration within 180
days after the effective date of a previous Demand Registration or a previous Piggy-back Registration in which holders of Registrable
Securities were permitted to register, and actually sold, 75% of the Registrable Securities requested to be included therein. The Company
may postpone for up to 120 days the filing or effectiveness of (A) a Registration Statement for a Demand Registration if the Holders
have requested an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of underwriters to firmly
underwrite the offer, or (B) a Registration Statement for a Demand Registration or a Registration on Form S -3 if the Registration
Statement is required under applicable law, rule or regulation to contain: (i) financial statements that are unavailable to
the Company for reasons beyond the Company’s control; (ii) audited financial statements as of a date other than the Company’s
fiscal year end (unless the Holders requesting Registration agree to pay the reasonable expenses of this audit); (iii) pro forma
financial statements that are required to be included in a registration statement; or (iv) if the Board determines in its reasonable
good faith judgment that such Demand Registration would (x) materially interfere with a significant acquisition, corporate organization
or other similar transaction involving the Company, (y) require the Company to make an Adverse Disclosure, or (z) render the
Company unable to comply with requirements under the Securities Act or Exchange Act; provided, that in such event the Holders of a majority-in-interest
of the Registrable Securities initiating a Demand Registration shall be entitled to withdraw such request and, if such request is withdrawn,
such Demand Registration shall not count as one of the permitted Demand Registrations hereunder and the Company shall pay all Registration
Expenses in connection with such Registration. The Company may delay a Demand Registration hereunder only twice in any period of twelve
consecutive months.

 

    	 	- 9 -	 

     

    

 

ARTICLE III

COMPANY PROCEDURES

 

3.1
         General Procedures. If at any time on or after the date the Company consummates a Business Combination, the Company
is required to effect the Registration of Registrable Securities, the Company shall use its best efforts to effect such Registration to
permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the
Company shall:

 

		3.1.1	Prepare and file with the Commission, as soon as practicable, a Registration Statement with respect to
such Registrable Securities, and use its reasonable best efforts to cause such Registration Statement to become effective and remain effective
until all Registrable Securities covered by such Registration Statement have been sold;

 

		3.1.2	Prepare and file with the Commission such amendments and post-effective amendments to the Registration
Statement, and such supplements to the Prospectus, as may be requested by any Holder or any Underwriter of Registrable Securities or as
may be required by the rules, regulations or instructions applicable to the registration form used by the Company or by the Securities
Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by
such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or
supplement to the Prospectus and either (i) any underwriter over-allotment option has terminated by its terms, or (ii) the underwriters
have advised the Company that they will not exercise such option or any remaining portion thereof;

 

		3.1.3	Furnish without charge to the Underwriters, if any, and each Holder of Registrable Securities included
in such Registration, or such Holders’ legal counsel, copies of the Prospectus included in such Registration Statement (including
each preliminary Prospectus), and each amendment and supplement thereto (in each case including all exhibits thereto and documents incorporated
by reference therein), and such other documents as the Underwriters and each Holder of Registrable Securities included in such Registration
or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such Holders;

 

		3.1.4	Prior to any public offering of Registrable Securities, use its best efforts to (i) register or qualify
the Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions
in the United States as any Holder of Registrable Securities included in such Registration Statement (in light of their intended plan
of distribution) may reasonably request, and (ii) take such action necessary to cause such Registrable Securities covered by the
Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business
and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Holders
of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such
jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where
it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation
in any such jurisdiction where it is not then otherwise so subject;

 

		3.1.5	Use commercially reasonable efforts to cause all such Registrable Securities to be listed on each securities
exchange or automated quotation system on which similar securities issued by the Company are then listed;

 

    	 	- 10 -	 

     

    

 

		3.1.6	Provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities
no later than the effective date of such Registration Statement;

 

		3.1.7	Advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge
thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation
or threatening of any proceeding for such purpose and promptly use its commercially reasonable best efforts to prevent the issuance of
any stop order or to obtain its withdrawal if such stop order should be issued;

 

		3.1.8	At least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment
or supplement to such Registration Statement or Prospectus or any document that is to be incorporated by reference into such Registration
Statement or Prospectus, furnish a copy thereof to each seller of such Registrable Securities and its counsel, including, without limitation,
providing copies promptly upon receipt of any comment letters received with respect to any such Registration Statement or Prospectus.
The Company shall not include the name of any Holder or any information regarding any Holder in any Registration Statement or Prospectus,
any amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated by reference into such
Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent of such Holder and providing
each such Holder a reasonable amount of time to review and comment on such applicable document, which comments the Company shall include
unless contrary to applicable law;

 

		3.1.9	Notify the Holders at any time when a Prospectus relating to such Registration Statement is required to
be delivered under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration
Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

		3.1.10	In the event of an Underwritten Offering, permit the participating Holders to rely on any “cold
comfort” letter from the Company’s independent registered public accountants provided to the managing Underwriter of such
offering;

 

		3.1.11	In the event of an Underwritten Offering, permit the participating Holders to rely on any opinion(s) of
counsel representing the Company for the purposes of such Registration issued to the managing Underwriter of such offering covering legal
matters with respect to the Registration;

 

		3.1.12	In the event of any Underwritten Offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the managing Underwriter of such offering;

 

		3.1.13	Make available to its security holders, as soon as reasonably
practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s
first full calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a) of
the Securities Act and Rule 158 thereunder, and which requirement will be deemed to be satisfied if the Company timely files complete
and accurate information on Forms 10-Q, 10-K and 8-K under the Exchange Act and otherwise complies with Rule 158 under the Securities
Act;

 

		3.1.14	If the Registration involves the Registration of Registrable Securities
involving gross proceeds in excess of $25,000,000, use its reasonable efforts to make available senior executives of the Company to participate
in customary “road show” presentations that may be reasonably requested by the Underwriter in any Underwritten Offering;
and,

 

    	 	- 11 -	 

     

    

 

		3.1.15	Otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably
be requested by the Holders, in connection with such Registration.

 

3.2          Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the
Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions
and discounts, brokerage fees, Underwriter marketing costs and all fees and expenses of any legal counsel representing the Holders.

 

3.3          Requirements
for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of the Company
pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities
on the basis provided in any underwriting arrangements approved by the Company, and (ii) completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required
under the terms of such underwriting arrangements.

 

3.4          Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until they are advised in writing
by the Company that the use of the Prospectus may be resumed and they have received copies of a supplemented or amended Prospectus correcting
the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as soon as reasonably
practicable after the time of such notice) and, if so directed by the Company, each Holder shall deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable
Securities at the time of receipt of such notice. If the continued use of a Registration Statement in respect of any Registration at any
time would require the Company to make an Adverse Disclosure, or would require the inclusion in such Registration Statement of: (i) financial
statements that are unavailable to the Company for reasons beyond the Company’s control; (ii) audited financial statements
as of a date other than the Company’s fiscal year end (unless the Holders requesting Registration agree to pay the reasonable expenses
of this audit); or (iii) pro forma financial statements that are required to be included in a registration statement, the Company
may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of,
such Registration Statement for no more than 180 days. In the event the Company exercises its rights under the preceding sentence, the
Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any
Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of
the expiration of any period during which it exercised its rights under this Section 3.4.

 

3.5          Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company
under the Exchange Act, covenants to use reasonable best efforts to file timely (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or
15(d) of the Exchange Act and to promptly upon request by a Holder furnish such Holder with true and complete copies of such filings.
The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required
from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act
within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal
opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer
as to whether it has complied with such requirements.

 

    	 	- 12 -	 

     

    

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

		4.1	Indemnification.

 

		4.1.1	The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities,
its officers and directors and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities and expenses (including reasonable attorneys’ fees) caused by any untrue or alleged untrue statement of material
fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto, or
any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly
for use therein. The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters
(within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the
Holder.

 

		4.1.2	In connection with any Registration Statement in which a Holder of Registrable Securities is participating,
such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and
officers and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages,
liabilities and expenses (including, without limitation, reasonable attorneys’ fees) resulting from any untrue statement of material
fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any
omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the
extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly
for use therein; provided, however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable
Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds
received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities
shall indemnify the Underwriters, their officers, directors and each person who controls such Underwriters (within the meaning of the
Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

		4.1.3	Any person entitled to indemnification herein shall (i) give
prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure
to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has not materially
prejudiced the indemnifying party), and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the
defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party
shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not
be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be
obligated to pay the fees and expenses of more than one counsel (plus local counsel) for all parties indemnified by such indemnifying
party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between
such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the
consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects
by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement
does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from
all liability in respect to such claim or litigation.

 

    	 	- 13 -	 

     

    

 

		4.1.4	The indemnification provided for under this Agreement shall remain in full force and effect regardless
of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified
party and shall survive the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering
also agrees to make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the
Company’s or such Holder’s indemnification is unavailable for any reason.

 

		4.1.5	If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

ARTICLE V

MISCELLANEOUS

 

5.1         Notices.
Any notice or communication under this Agreement must be in writing and given by: (i) deposit in the United States mail,
addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested; (ii) delivery
in person or by courier service providing evidence of delivery; or (iii) transmission by hand delivery, electronic mail or
facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed
sufficiently given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which
it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as
it is delivered to the addressee (with the delivery receipt of the intended recipient or the affidavit of messenger) or at such time
as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed to the
Company at:

 

    	 	- 14 -	 

     

    

 

Western Acquisition Ventures Corp.

42 Broadway, 12th
Floor

New York, New York 10004

Attention: Stephen Christoffersen

Email: schristoffersen@westacqventures.com

 

with a copy to:

 

Reed Smith LLP

599 Lexington Avenue

New York, NY 10022

Attention: Marc D. Hauser, Esq.

Email:
mhauser@reedsmith.com

 

and to the Holders, at such Holder’s address referenced
in Schedule A.

 

Any party may change its address
for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

		5.2	Assignment; No Third Party Beneficiaries.

 

		5.2.1	This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or
delegated by the Company in whole or in part. Prior to the expiration of the Founder Lock-up Period or Placement Unit Lock-up Period,
as the case may be, no Holder may assign or delegate his, her or its rights, duties or obligations under this Agreement in whole or in
part. Notwithstanding the above, as it applies to the Registrable Securities, the Holder may transfer such securities during the respective
lock-up period to any Permitted Transferee (as such term is defined in that certain Warrant Agreement between the Company and Continental
Stock Transfer & Trust Company) but only if such Permitted Transferee agrees to become bound by the transfer restrictions set
forth in this Agreement, the Letter Agreement and, if applicable, the Placement Unit Subscription Agreements.

 

		5.2.2	Except as set forth in subsection 5.2.1 hereof, this Agreement and the rights, duties and obligations
of the Holders of Registrable Securities hereunder may be assigned or delegated by such Holder of Registrable Securities in conjunction
with and to the extent of any transfer of Registrable Securities by any such Holder.

 

		5.2.3	This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each
of the Holders, the permitted assigns and its successors and the permitted assigns of the Holders.

 

		5.2.4	This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other
than as expressly set forth in this Agreement and Section 5.2 hereof.

 

		5.2.5	No assignment by any party hereto of such party’s rights,
duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written
notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement of the assignee, in a form reasonably
satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate
of joinder to this Agreement). Any transfer or assignment made other than as provided in this Section 5.2 shall be null and void.

 

    	 	- 15 -	 

     

    

 

5.3          Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original,
and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4          Governing
Law; Venue. THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. Any legal suit, action or proceeding arising out of or based
upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States or the courts
of the State of New York in each case located in the city of New York, and each party irrevocably submits to the exclusive jurisdiction
of such courts in any such suit, action or proceeding.

 

EACH PARTY HERETO ACKNOWLEDGES
AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND,
THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH
OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

5.5          Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest
of the then outstanding Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this Agreement
may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding
the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares
of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the
consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or
delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any
rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party
shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

5.7          Other
Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities, has any right
to require the Company to register any securities of the Company for sale or to include such securities of the Company in any Registration
filed by the Company for the sale of securities for its own account or for the account of any other person.

 

5.8          Termination.
This Agreement shall terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement or, (ii) the date
as of which (A) all of the Registrable Securities have either been sold pursuant to a Registration Statement or cease to be Registrable
Securities (but in no event prior to the applicable period referred to in Section 4(3) of the Securities Act and Rule 174
thereunder) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule 144
(or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale. The provisions
of Section 3.5 and Article IV shall survive any termination.

 

[Signature page follows]

 

    	 	- 16 -	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	COMPANY:
	 	 
	 	WESTERN ACQUISITION VENTURES CORP.
	 	a Delaware corporation
	 	 
	 	 
	 	By:	/s/ Stephen Christoffersen
	 	Name: Stephen Christoffersen
	 	Title: Chief Executive Officer
	 	 
	 	HOLDERS:
	 	 
	 	WESTERN ACQUISITION VENTURES SPONSOR
    LLC
	 	 
	 	a Delaware limited liability company
	 	 
	 	 
	 	By:	/s/
William Lischak
	 	Name: William Lischak
	 	Title: Managing Member
	 	 
	 	A.G.P./ALLIANCE GLOBAL PARTNERS, INC.
	 	 
	 	a Delaware corporation
	 	 
	 	 
	 	By:	/s/
    Thomas J. Higgins
	 	Name: Thomas J. Higgins
	 	Title:
    Managing Director

 

[Registration Rights Agreement]

 

     

     

    

 

Schedule A

 

	Holder	 	Address
	Western Acquisition Ventures Sponsor, LLC	 	42 Broadway, 12th Floor; New York, New York 10004
	A.G.P./Alliance Global Partners, Inc.	 	590 Madison Avenue, 28th Floor, New York, NY 10022

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]