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RELEASE AND SETTLEMENT AGREEMENT

This Release and Settlement Agreement (“Agreement”) is entered into by and between THE HAGERTY GROUP, LLC, a Delaware limited liability company (the “Hagerty Group”), and KELLY SMITH (“Smith”) (the Hagerty Group and Smith are collectively referred to as the "Parties"), as of the date the Agreement is signed by both Parties.

Smith’s last date of employment with the Hagerty Group was June 17, 2022 (the “Separation Date”). Except as otherwise set forth in this Agreement, the Separation Date is the employment termination date for Smith for all purposes, meaning Smith is not entitled to any further compensation, monies, or other benefits from the Hagerty Group, including coverage under any benefit plans or programs sponsored by the Hagerty Group, as of the Separation Date.

A dispute has arisen between the Parties regarding the amount due Smith after the Separation Date under the Employment Agreement signed by Smith on March 4, 2021 (the “Matter”). The Parties desire to fully and completely resolve the Matter between and among them and ensure they have amicably resolved and settled all possible differences or claims pertaining to, arising from, or associated with the Matter, Smith’s employment and/or his separation of employment from the Hagerty Group.

Accordingly, the parties agree to the following:

1.Consideration. In consideration of the covenants and releases by Smith herein, payment shall be made to Smith and his attorneys by the Hagerty Group in the amount of
$550,000 (hereinafter “Settlement Amount”). The Settlement Amount will be paid as follows:

(a)$500,000 shall be paid to Smith via check or electronic funds. Payroll taxes and other withholdings will be withheld from this amount. The Hagerty Group will issue an IRS Form W-2 to Smith reflecting payment of this amount.

(b)$50,000 shall be paid to Smith’s attorneys, Ashbaugh Beal, via check or electronic funds. No payroll taxes or other withholdings will be withheld from this amount. Smith has authorized this payment to his attorneys. Executed IRS W-9 Forms for Ashbaugh Beal and Smith shall be provided to the Hagerty Group. The Hagerty Group will issue an IRS Form 1099 to Ashbaugh Beal and Smith in connection with this amount.

Payment of the Settlement Amount shall be made on the Hagerty Group’s next regularly scheduled payroll period following the Effective Date of this Agreement as set forth in Paragraph 6 below.

2.Taxes. Smith agrees that he will pay all of his obligations for local, state, and federal tax arising out of any of the payments made pursuant to this Agreement. Smith further agrees that he has made his own independent analysis of the taxability of these payments and is not relying on advice from the Hagerty Group or its legal counsel. Smith further agrees to indemnify and hold the Hagerty Group harmless from and against any tax or tax withholdings claims, amounts, interest, penalties, fines or assessments brought or sought by any taxing authority or governmental agency with regard to the above recited sums. In the event the Hagerty Group receives written notice that any claim or assessments for taxes, withholding obligations, penalties and/or interest arising out of this settlement are being or will be made against the Hagerty Group, the Hagerty Group shall promptly, after receipt of such written notice, notify Smith by letter sent to counsel for Smith.

3.No Admission of Liability. Nothing in this Agreement shall be construed as an admission by Smith or the Hagerty Group of any wrongdoing, liability, or noncompliance with any federal, state, city, or local rule, ordinance, statute, common law, or other legal obligation.

4.Smith Representations. Smith specifically represents, warrants, and confirms that Smith:

a.has not filed any claims, complaints, or actions of any kind against the Hagerty Group with any arbitration tribunal, federal, state, or local court or government or administrative agency;

b.has not made any claims or allegations to the Hagerty Group related to sexual harassment, sex discrimination, or sexual abuse, and that none of the payments set forth in this Agreement are related to sexual harassment, sex discrimination, or sexual abuse;

c.has been properly paid for all hours worked for the Hagerty Group through and including the Separation Date;

d.has received all salary, wages, commissions, bonuses, and other compensation due to Smith, and any vested benefits accrued before the Separation Date under the terms of any written Hagerty Group policy or benefit program through and including the Separation Date; and

e.has not engaged in any unlawful conduct relating to the business of the Hagerty Group.

5.Mutual Release.

(a)Smith’s General Release and Waiver of Claims

In exchange for the consideration provided in this Agreement, Smith and Smith’s heirs, executors, representatives, administrators, agents, insurers, and assigns (collectively, the "Releasors") irrevocably and unconditionally fully and forever waive, release, and discharge the Hagerty Group, including each member of the Hagerty Group's parents, subsidiaries, affiliates, predecessors, successors, and assigns, and each of its and their respective officers, directors, employees, shareholders, trustees, and partners, in their corporate and individual capacities (collectively, the “Released Parties”), from any and all claims, demands, actions, causes of actions, judgments, rights, fees, damages,

debts, obligations, liabilities, and expenses (inclusive of attorneys' fees) of any kind whatsoever, whether known or unknown (collectively, “Claims”), that Releasors may have or have ever had against the Released Parties, or any of them, arising out of, or in any way related to the Matter, Smith’s hire, benefits, employment, termination, or separation from employment with the Hagerty Group by reason of any actual or alleged act, omission, transaction, practice, conduct, occurrence, or other matter from the beginning of time up to and including the date of Smith’s execution of this Agreement, including, but not limited to:

(i)any and all claims under Title VII of the Civil Rights Act of 1964 (Title VII), the Americans with Disabilities Act (ADA), the Family and Medical Leave Act (FMLA) (regarding existing but not prospective claims), the Fair Labor Standards Act (FLSA), the Equal Pay Act, Employee Retirement Income Security Act (ERISA) (regarding unvested benefits), the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Fair Credit Reporting Act (FCRA), the Worker Adjustment and Retraining Notification (WARN) Act, the National Labor Relations Act (NLRA), the Age Discrimination in Employment Act (ADEA), the Uniform Services Employment and Reemployment Rights Act (USERRA), the Genetic Information Nondiscrimination Act (GINA), the Immigration Reform and Control Act (IRCA), and any/all state and local laws that may be legally waived, all including any amendments and their respective implementing regulations, and any other federal, state, local, or foreign law (statutory, regulatory, or otherwise) that may be legally waived and released; however, the identification of specific statutes is for purposes of example only, and the omission of any specific statute or law shall not limit the scope of this general release in any manner;

(ii)any and all claims for compensation of any type whatsoever, including but not limited to claims for salary, wages, bonuses, commissions, incentive compensation, vacation, and severance that may be legally waived and released;

(iii)any and all claims arising under tort, contract, and quasi-contract law, including but not limited to claims of breach of an express or implied contract, tortious interference with contract or prospective business advantage, breach of the covenant of good faith and fair dealing, promissory estoppel, detrimental reliance, invasion of privacy, nonphysical injury, personal injury or sickness or any other harm, wrongful or retaliatory discharge, fraud, defamation, slander, libel, false imprisonment, and negligent or intentional infliction of emotional distress; and

(iv)any and all claims for monetary or equitable relief, including but not limited to attorneys' fees, back pay, front pay, reinstatement, expert fees, medical fees or expenses, costs and disbursements, punitive damages, liquidated damages, and penalties; and

(v)any indemnification rights Smith has against the Hagerty Group.

However, this general release and waiver of claims excludes, and Smith does not waive, release, or discharge: (A) any right to file an administrative charge or complaint with, or testify, assist, or participate in an investigation, hearing, or proceeding conducted by, the Equal Employment Opportunity Commission or other similar federal or state administrative agencies, although Smith waives any right to monetary relief related to any filed charge or administrative complaint; and (B) claims that cannot be waived by law, such as claims for unemployment benefit rights and workers’ compensation; and (C) any right to file an unfair labor practice charge under the National Labor Relations Act or Smith's rights under a collective bargaining agreement without processes; and (D) protections against retaliation under the Taxpayer First Act (26 U.S.C.
§ 2623(d)); and (E) any rights to vested benefits, such as pension or retirement benefits, the rights to which are governed by the terms of the applicable plan documents and award agreements.

If Smith applies for unemployment benefits, the Hagerty Group shall not actively contest it. However, the Hagerty Group will respond truthfully, completely, and timely to any inquiries by the applicable state unemployment insurance agency or department of labor concerning the termination of Smith’s employment.

f.Specific Release of ADEA Claims

In further consideration of the payments and benefits provided to Smith in this Agreement, the Releasors hereby irrevocably and unconditionally fully and forever waive, release, and discharge the Released Parties from any and all Claims, whether known or unknown, from the beginning of time through the date of Smith's execution of this Agreement, arising under the Age Discrimination in Employment Act (ADEA), as amended, and its implementing regulations. By signing this Agreement, Smith hereby acknowledges and confirms that:

(vi)Smith has read this Agreement in its entirety and understands all of its terms;

(vii)by this Agreement, Smith has been advised in writing to consult with an attorney of Smith's choosing before signing this Agreement;

(viii)Smith knowingly, freely, and voluntarily agrees to all of the terms and conditions set out in this Agreement including, without limitation, the waiver, release, and covenants contained in it;

(ix)Smith is signing this Agreement, including the waiver and release, in exchange for good and valuable consideration in addition to anything of value to which Smith is otherwise entitled;

(x)Smith was given at least twenty-one (21) days to consider the terms of this Agreement and consult with an attorney of Smith's choice, although Smith may sign it sooner if desired and changes to this Agreement, whether material or immaterial, do not restart the running of the 21-day period;

(xi)Smith understands that he has seven (7) days after signing this Agreement to revoke the release in this paragraph by delivering written notice of revocation to Edward J. Bardelli at Warner Norcross + Judd LLP, 1500 Warner Building, 150 Ottawa Avenue NW, Grand Rapids, Michigan 49503, stating: “I hereby revoke my acceptance of the Release and Settlement Agreement.” The notice must be received during the revocation period. Once this revocation period expires, if Smith has not revoked this Agreement, it will be a binding, non- revocable agreement; and

(xii)Smith understands that the release contained in this paragraph does not apply to rights and claims that may arise after Smith signs this Agreement.

(b)The Hagerty Group Release of Smith

In exchange for the Releasors’ waiver and release of claims against the Released Parties, and non-revocation of any portion of that release, the Hagerty Group expressly waives and releases any and all claims whatsoever it has or may at any time in the future have against Smith, whether presently known or unknown, suspected or unsuspected, with the exception of claims arising directly out of: (i) events, acts, or omissions taking place after the Parties' execution of this Agreement; (ii) Smith’s breach of any terms and conditions of this Agreement; and (iii) a criminal conviction of Smith by State or Federal authorities based on Smith’s conduct as an employee of the Hagerty Group occurring during Smith’s employment with the Hagerty Group.

6.Effective Date. This Agreement shall not become effective until the eighth (8th) day after Smith signs, without revoking, this Agreement ("Effective Date"). No payments due to the Employee under this Agreement shall be made or begin before the Effective Date

7.Confidentiality of This Agreement. The Parties agree that this Agreement and its terms are confidential and shall not be disclosed; and that confidentiality is a material term of this Agreement. Smith agrees not to disclose this Agreement or its terms to anyone other than his spouse, if any, attorney(s), his tax preparers and accountants. Smith further agrees that he will instruct the above-mentioned individuals not to disclose this Agreement or its terms.

Upon inquiry by any person as to the status of the Matter, the Parties shall refuse to comment concerning the terms of the Agreement or the merits of the Matter and shall merely respond that the Matter has been resolved. By way of example, without limitation, the Parties shall not respond to or in any way participate in or contribute to any public or private discussion, notice, or other publicity concerning or in any way relating to, the terms of the Agreement or the merits of the Matter. Further, the Parties shall not disclose the above settlement information to any other person or organization, nor shall they indirectly or anonymously disclose the above settlement information online or via social media.

The Parties agree that this Agreement does not in any way restrict or impede the Parties from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order. Should the above-mentioned settlement information be disclosed, in whole or in part, pursuant to law, regulation, or lawful order or process of a judicial, administrative, civil or criminal authority or proceeding, the Parties shall thereafter continue to be bound by the confidentiality provisions of this Agreement, and no such disclosure shall relieve them from the confidentiality requirements herein. Any party receiving an order calling for the disclosure of any of the above settlement information shall promptly provide written notice of any such order to the non-receiving party.

Nothing in this Agreement prohibits or restricts Smith (or his attorney) from initiating communications directly with, responding to an inquiry from, or providing testimony before the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any other self-regulatory organization, or any other federal or state regulatory authority regarding this Agreement or its underlying facts or circumstances or a possible securities law violation.

8.Mutual Nondisparagement. Smith agrees and covenants that he shall not at any time make, publish, or communicate to any person or entity or in any public forum any defamatory or maliciously false, or disparaging remarks, comments, or statements concerning the Hagerty Group, its businesses, Board of Directors, current Chief Executive Officer and those who currently report directly to the Chief Executive Officer.

The Hagerty Group will instruct its Board of Directors, current Chief Executive Officer and those who currently report directly to the Chief Executive Officer that they shall not at any time make, publish, or communicate to any person or entity or in any public forum any defamatory or maliciously false, or disparaging remarks, comments, or statements concerning Smith.

The Hagerty Group will provide the names of the individuals referenced in this Paragraph to Smith’s attorneys as of the Effective Date of this Agreement.

Nothing in this Paragraph in any way restricts or impedes the Parties from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order. Any Party receiving notice of any such order shall promptly provide written notice to the non-receiving Party.

9.Response to Inquiries by Prospective Employers. The Hagerty Group agrees that all inquiries from prospective employers regarding Smith shall be directed to its Human Resources Department. Unless otherwise authorized by Smith in writing, only dates of employment and positions held by Smith will be released. The Hagerty Group will not characterize Smith’s departure from the Hagerty Group in any manner, including without limitation, that he was terminated for “Cause” as defined in the Employment Agreement signed by Smith on March 4, 2021.

10.Arbitration. The Parties agree that any dispute, controversy, or claim arising out of or related to this Agreement, or any alleged breach of this Agreement shall be governed by the Federal Arbitration Act (FAA) and submitted to and decided by binding arbitration to be held in Grand Traverse County, Michigan. Arbitration shall be administered before JAMS in accordance with its respective rules, except as modified by this Agreement. Each Party shall pay its own costs of arbitration. Any arbitral award determination shall be final and binding on the Parties and may be entered as a judgment in a court of competent jurisdiction. Notwithstanding the foregoing obligation to arbitrate, nothing in this Agreement prevents a Party from seeking temporary or preliminary injunctive relief in aid of arbitration from a court of competent jurisdiction.

11.Other Remedies. The Parties agree that if either party unsuccessfully seeks relief against the other by commencing, joining in, or participating in any legal or administrative action or proceeding (except as required by law or by lawful process), or in any other manner unsuccessfully asserts any liability against the other for any claims released or waived herein or any claims arising from the Agreement, then the unsuccessful party shall pay to the successful party, in addition to any other damages caused by such action or assertion of liability, all reasonable attorneys’ fees and associated costs incurred by the successful party in defending or otherwise responding to such action, proceeding, or assertion of liability.

Further, if either party successfully obtains relief against the other party by commencing, joining in, or participating in any legal or administrative action or proceeding or in any other manner successfully asserts any liability against the other party as a result of the other party’s breach of, or failure to abide by, the terms of the Agreement, then the party who breached, or failed to abide by, the Agreement shall pay to the other party, in addition to any other damages caused by such breach or failure to abide by the terms of the Agreement, all reasonable attorneys’ fees and associated costs incurred by the other party in prosecuting or otherwise pursuing such action, proceeding, or assertion of liability.

12.Severability. If any part, term, or provision of the Agreement is held by a court, arbitrator, or administrative body to be illegal or in conflict with any law, or by statute becomes illegal or in conflict with any law, the validity of the remaining portions or provisions shall not be affected and the rights and obligations of the Parties shall be construed and enforced as if the Agreement did not contain the particular, invalid part, term, or provision.

13.Integration Clause. Unless specifically provided herein, this Agreement contains all of the understandings and representations between the Hagerty Group and Smith relating to the subject matter hereof and supersedes all prior and contemporaneous understandings, discussions, agreements, representations, and warranties, both written and oral, regarding such subject matter; provided, however, that nothing in this Agreement modifies, supersedes, voids, or otherwise alters Paragraphs 8 and 9 of the Employment Agreement signed by Smith on March 4, 2021.

14.Modification and Waiver. No provision of this Agreement may be amended or modified unless the amendment or modification is agreed to in writing and signed by Smith and an authorized representative of the Hagerty Group. No waiver by either Party of any breach by the other Party of any condition or provision of this Agreement to be performed by the other Party shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of or delay by either Party in exercising any right, power, or privilege under this Agreement operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power, or privilege.

15.Notices. All notices under this Agreement must be given in writing by certified mail, return receipt requested or email at the addresses indicated in this Agreement or any other address designated in writing by either Party as follows:

Notice to the Hagerty Group: The Hagerty Group, LLC Attn: Barbara Matthews General Counsel
121 Drivers Edge Traverse City, MI 49684 bmatthews@hagerty.com

Copy to:
Edward J. Bardelli
Warner Norcross + Judd LLP 150 Ottawa Ave NW
Grand Rapids, MI 49503 ebardelli@wnj.com

Notice to Smith:
Kelly Smith
2310 W. Three Lakes Drive Meridian, ID 83646

Copy to:
Joseph M. Campos Ashbaugh Beal
4400 Columbia Center
701 Fifth Avenue
Seattle, WA 98104 jcampos@ashbaughbeal.com

1.Attorneys' Fees. Except as otherwise expressly provided herein, each party hereto shall bear all attorneys' fees, costs, and expenses arising from the service of their own counsel in connection with the matters giving rise to this Agreement.

2.Successors and Assigns. The Hagerty Group may freely assign this Agreement at any time. This Agreement shall inure to the benefit of the Hagerty Group and its successors and assigns. Smith may not assign this Agreement in whole or in part. Any purported assignment by Smith shall be null and void from the initial date of the purported assignment.

3.Governing Law, Jurisdiction and Venue. This Agreement and all matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the laws of Michigan without regard to any conflicts of laws principles that would require the laws of any other jurisdiction to apply. Subject to Paragraph 10 above, any action or proceeding by either of the Parties to enforce this Agreement shall be brought only in any state or federal court located in the state of Michigan, county of Grand Traverse. The Parties hereby irrevocably submit to the exclusive jurisdiction of these courts and waive the defense of inconvenient forum to the maintenance of any action or proceeding in such venue.

4.Counterparts. This Agreement may be executed in several identical counterparts, each of which when executed by the Parties hereto and delivered shall be an original, but all of which together shall constitute a single instrument. In making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart.

IN WITNESS WHEREOF, the entity below has caused this Agreement to be executed by an officer duly authorized thereunto by its Board of Directors, and the individual below has hereunto set his hand and seal, all as of the date and year written below.

Dated: October 20, 2022            KELLY SMITH

By: /s/ Kelly Smith                                        

Dated:  November 8, 2022    THE HAGERTY GROUP, LLC

By: /s/ McKeel O Hagerty                           

Title: Chief Executive OfficerEXHIBIT 10.2

 

SPONSOR
LETTER AGREEMENT

 

This
SPONSOR LETTER AGREEMENT (this “Agreement”), dated as of August 30, 2022, is made by and among Minority Equality Opportunities
Acquisition Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), Minority Equality Opportunities Acquisition
Inc., a Delaware corporation (“MEOA”), and Digerati Technologies, Inc., a Nevada corporation (the “Company”).
The Sponsor, MEOA and the Company shall be referred to herein from time to time collectively as the “Parties”. Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Business Combination Agreement (as
defined below).

 

WHEREAS,
MEOA, the Company and certain other Persons party thereto are entering into that certain Business Combination Agreement, dated as of
the date hereof (as it may be amended, restated or otherwise modified from time to time in accordance with its terms, the “Business
Combination Agreement”); and

 

WHEREAS,
the Business Combination Agreement contemplates that the Parties will enter into this Agreement concurrently with the entry into the
Business Combination Agreement by the parties thereto, pursuant to which, among other things, the Sponsor will (a) vote in favor of approval
of the Business Combination Agreement and the transactions contemplated thereby, (b) waive any adjustment to the conversion ratio set
forth in the Governing Documents of MEOA or any other anti-dilution or similar protection with respect to all of the MEOA Class B Shares,
such that the MEOA Class B Shares will convert into MEOA Class A Shares at the Closing on a one-to-one basis, (c) subject certain of
the MEOA Class B Shares currently held by it to potential forfeiture, (d) forfeit certain redeemable warrants owned by it and that are
exercisable to purchase 3,776,500 MEOA Class A Shares (the “Sponsor Warrants”), and (e) execute a customary lock-up
agreement with respect to any MEOA Class A Shares received by the Sponsor in connection with the consummation of the Merger and those
MEOA Class A Shares issuable upon exercise of the Sponsor Warrants.

 

NOW,
THEREFORE, in consideration of the premises and the mutual promises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties, each intending to be legally bound, hereby agree as follows:

 

1.
 Agreement to Vote. The Sponsor hereby agrees to vote at any meeting of the shareholders
of MEOA, and in any action by written resolution of the shareholders of MEOA, all of the Sponsor’s MEOA Class B Shares (together
with any other Equity Securities of MEOA that the Sponsor holds of record or beneficially, as of the date of this Agreement, or of which
it acquires record or beneficial ownership after the date hereof, collectively, the “Subject Equity Securities”) in
favor of the Transaction Proposals.

 

2.
 Waiver of Anti-dilution Protection. The Sponsor hereby (a) waives any rights to adjustment
or other anti-dilution protections, subject to, and conditioned upon, the occurrence of the Closing (for itself and for its successors
and assigns), to the fullest extent permitted by law and the Amended and Restated Certificate of Incorporation of MEOA, and (b) agrees
not to assert or perfect any rights to adjustment or other anti-dilution protections, in each case with respect to the rate that the
MEOA Class B Shares held by it convert into MEOA Class A Shares in connection with the transactions contemplated by the Business Combination
Agreement, such that the MEOA Class B Shares held by it will convert into MEOA Class A Shares at the Closing on a one-to-one basis.

 

    1

     

    

 

3.
 Forfeiture of Founder Shares and Sponsor Warrants.

  

(a)
 General. The Parties hereby acknowledge that, as of the date of this Agreement, the
Sponsor beneficially owns an aggregate of 3,162,500 MEOA Class B Shares (the “Founder Shares”) which it acquired pursuant
to that certain Securities Subscription Agreement dated April 21, 2021 by and between the Sponsor and MEOA, and Sponsor Warrants exercisable
to purchase 5,395,000 MEOA Class A shares, which it acquired pursuant to that certain Private Placement Warrants Purchase Agreement dated
as of August 25, 2021 by and between the Sponsor and MEOA.

 

(b)
 Forfeiture of Shares. The Sponsor hereby agrees that, upon the Closing of the transactions
contemplated by the Business Combination Agreement, the Sponsor shall automatically forfeit and surrender to MEOA, for no consideration
for such forfeiture and surrender and without the need for any further action on the part of the Sponsor or any other Party, a number
of Founder Shares as is equal to the product obtained by multiplying (i) if the Net Closing Cash (as defined below) is within a range
set forth in one of the rows under the column entitled “Net Closing Cash” in the table set forth on Schedule A attached
hereto, the percentage set forth in the corresponding row of such table under the column entitled “Percentage Forfeited”,
by (ii) the total number of Sponsor Shares beneficially owned upon closing (and prior to giving effect to any transfer or contribution
of Founder Shares as contemplated by the last sentence of this Section 3(b)). Following the forfeiture and surrender of any Founder Shares
pursuant to this Section 3(b), such Founder Shares shall be deemed to be cancelled and no longer outstanding. Notwithstanding the foregoing
and for the avoidance of doubt, in the event that the Sponsor transfers any Founder Shares to potential investors in a private placement
of the securities of either MEOA or the Company to close on or prior to the Closing Date (the “PIPE”) as compensation
for such investors participating in the PIPE, or the Sponsor otherwise contributes any Founder Shares to a PIPE or similar capital raising
transaction, then the aggregate number of Founder Shares subject to forfeiture by the Sponsor pursuant to this Section 3(c) shall be
reduced, on a one-for-one basis, by the number of Founder Shares so transferred and/or contributed.

 

(c) Net
Closing Cash. For purposes of this Agreement, “Net Closing Cash” is defined as an amount of cash, as determined
immediately prior to the Closing of the transactions contemplated by the Business Combination Agreement, calculated as follows: Cash
in Trust in MEOA’s Trust Account (the “Trust Account”), gross of redemptions, plus (x) the amount of any third
party investments that are made into MEOA at or about the time of the Closing of the transactions contemplated by the Business Combination
Agreement, (y) any cash that is in the operating account of MEOA, and (z) fifty percent (50%) of the net proceeds received as a result
of the issuance by the Company of its securities in connection with the Closing of the transactions contemplated by the Business Combination
Agreement, if any, and minus (1) the aggregate amount of all redemptions from the Trust Account, (2) repayment to the Sponsor of any
loans that have been made by the Sponsor (or its affiliates) to MEOA, (3) the payment of expenses that are payable by MEOA, and (4) fifty
percent (50%) of the cash portion of the fee payable for the fairness opinion delivered to the Board of Directors of MEOA in connection
with the transactions contemplated by the Business Combination Agreement. For the avoidance of doubt: (A) amounts paid in stock will
not be included in Net Closing Cash; (B) cash on the balance sheet of the Company will not be included in Net Closing Cash; (C) Net Closing
Cash will not include cash transaction expenses of the Company; and (D) the loan(s) from the Sponsor include extension fees and working
capital loan(s).

 

(d) Forfeiture
of Warrants. The Sponsor hereby agrees that, upon the Closing of the transactions contemplated by the Business Combination Agreement,
the Sponsor shall automatically forfeit and surrender to MEOA, for no consideration for such forfeiture and surrender, and without the
need for any further action on the part of the Sponsor or any other Party, Sponsor Warrants exercisable in the aggregate to purchase
3,776,500 MEOA Class A Shares.

 

4. Lock
Up. The Sponsor hereby agrees, in connection with closing of the Merger, to execute a customary lock-up agreement with respect to
any MEOA Class A Shares received by the Sponsor in connection with the Merger and the Class A Shares issuable upon exercise of the Sponsor
Warrants, which agreement shall terminate no later than 180 days from the Closing (such 180-day period, the “Lock-Up Period”).

 

    2

     

    

 

5.
 No Transfers. The Sponsor hereby agrees that, except as provided in that certain letter
agreement dated as of August 25, 2021, by and among MEOA, the Sponsor and certain other parties thereto (the “Insider Letter”),
and except for any Transfers that may be effected so as to generate funds that the Sponsor will provide to the Company and/or MEOA prior
to the Effective Time, and subject to the term of the Lock-Up Period, it shall not, directly or indirectly, effect any Transfers (as
defined in the Insider Letter) of MEOA Class B Shares, the Sponsor Warrants or the Class A Shares issuable upon exercise of the Sponsor
Warrants from the date hereof until the Expiration Time, provided, that the transferee of any Transfer permitted by the Insider
Letter or that may otherwise be permitted pursuant to this Agreement, must enter into a written agreement in form and substance reasonably
satisfactory to the Company agreeing to be bound by this Agreement prior to the occurrence of such Transfer.

 

6.
 Other Covenants. During the period commencing on the date hereof and ending on the earlier
to occur of (a) the Effective Time and (b) such date and time as the Business Combination Agreement shall be terminated in accordance
with Section 7.1 thereof (the “Expiration Time”), the Sponsor hereby agrees to be bound by and subject to (i)
Sections 5.3 (a) (Confidentiality) and 5.4(a) (Public Announcements) of the Business Combination Agreement to the same extent as such
provisions apply to the parties to the Business Combination Agreement, as if the Sponsor is directly a party thereto, and (ii) Section
5.6(b) (Exclusive Dealing) of the Business Combination Agreement to the same extent as such provisions apply to MEOA as if the Sponsor
is directly party thereto.

 

7.
 Termination. This Agreement shall automatically terminate, without any notice or other
action by any Party, and be void ab initio upon the earlier of (a) the Effective Time; and (b) the termination of the Business
Combination Agreement in accordance with its terms. Notwithstanding the foregoing or anything to the contrary in this Agreement, the
termination of this Agreement shall not affect any Liability on the part of any Party for a Willful Breach of any covenant or agreement
set forth in this Agreement prior to such termination or Fraud. Upon termination of this Agreement as provided in the immediately preceding
sentence, none of the Parties shall have any further obligations or Liabilities under, or with respect to, this Agreement.

 

8.
 No Recourse. Except for claims pursuant to the Business Combination Agreement or any
other Ancillary Document by any party(ies) thereto against any other party(ies) thereto (but subject to the terms and conditions set
forth therein), each Party agrees that (a) this Agreement may only be enforced against, and any action for breach of this Agreement may
only be made against, the Parties, and no claims of any nature whatsoever (whether in tort, contract or otherwise) arising under or relating
to this Agreement, the negotiation hereof or its subject matter, or the transactions contemplated hereby shall be asserted against any
Company Non-Party Affiliate or any MEOA Non-Party Affiliate (other than the Sponsor, on the terms and subject to the conditions set forth
herein), and (b) none of the Company Non-Party Affiliates or the MEOA Non-Party Affiliates (other than the Sponsor, on the terms and
subject to the conditions set forth herein) shall have any Liability arising out of or relating to this Agreement, the negotiation hereof
or its subject matter, or the transactions contemplated hereby, including with respect to any claim (whether in tort, contract or otherwise)
for breach of this Agreement or in respect of any written or oral representations made or alleged to be made in connection herewith,
as expressly provided herein, or for any actual or alleged inaccuracies, misstatements or omissions with respect to any information or
materials of any kind furnished in connection with this Agreement, the negotiation hereof or the transactions contemplated hereby.

 

    3

     

    

 

9.
 Fiduciary Duties. Notwithstanding anything in this Agreement to the contrary, (a) the
Sponsor makes no agreement or understanding herein in any capacity other than in the Sponsor’s capacity as a record holder and
beneficial owner of the Subject Equity Securities, and (b) nothing herein will be construed to limit or affect any action or inaction
by any representative of the Sponsor serving as a member of the board of directors (or other similar governing body) of any MEOA Party
or as an officer, employee or fiduciary of any MEOA Party, in each case, acting in such person’s capacity as a director, officer,
employee or fiduciary of such MEOA Party.

 

10.
 No Third-Party Beneficiaries. This Agreement shall be for the sole benefit of the Parties
and their respective successors and permitted assigns and is not intended, nor shall be construed, to give any Person, other than the
Parties and their respective successors and assigns, any legal or equitable right, benefit or remedy of any nature whatsoever by reason
this Agreement. Nothing in this Agreement, expressed or implied, is intended to or shall constitute the Parties, partners or participants
in a joint venture.

 

11.
 Incorporation by Reference. Sections 8.1 (Non-Survival), 8.2 (Entire Agreement; Assignment).
8.3 (Amendment), 8.5 (Governing Law), 8.7 (Construction; Interpretation), 8.10 (Severability), 8.11 (Counterparts; Electronic Signatures),
8.15 (Waiver of Jury Trial), 8.16 (Submission to Jurisdiction) and 8.17 (Remedies) of the Business Combination Agreement are incorporated
herein and shall apply to this Agreement mutatis mutandis.

 

[remainder
of page intentionally left blank; signature page follows]

 

    4

     

    

 

IN
WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed on its behalf as of the day and year first above
written.

 

	 	Minority Equality Opportunities
	 	Acquisition Sponsor, LLC 
	 	 	 
	 	By:	/s/ Kurt Kalbfleisch
	 	 	Name:  	Kurt Kalbfleisch
	 	 	Title:	Co-Manager
	 	 	 
	 	Minority Equality Opportunities Acquisition Inc.
	 	 	 
	 	By:	/s/ Shawn D. Rochester
	 	 	Name:	Shawn D. Rochester
	 	 	Title:	President & CEO
	 	 	 
	 	Digerati Technologies, Inc.
	 	 	 
	 	By:	/s/ Arthur L. Smith
	 	 	Name:	Arthur L. Smith
	 	 	Title:	President & CEO

 

[Signature
Page to Sponsor Letter Agreement]

 

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SCHEDULE
A

 

Forfeiture
of Founder Shares

 

	Net Closing Cash	 	Percentage

 Forfeited	 
	$35,000,000 or more	 	 	0.0	%
	$34,999,999 - $20,000,000	 	 	4.0	%
	$19,999,999 - $18,000,000	 	 	8.0	%
	$17,999,999-  $16,000,000	 	 	12.0	%
	$15,999,999 - $14,000,000	 	 	16.0	%
	$13,999,999 - $12,000,000	 	 	20.0	%
	$11,999,999 - $10,000,000	 	 	24.0	%
	$9,999,999 - $8,000,000	 	 	28.0	%
	$7,999,999 - $6,000,000	 	 	32.0	%
	$5,999,999 - $4,000,000	 	 	36.0	%
	$3,999,999 - $2,000,000	 	 	40.0	%
	$1,999,999 - $0	 	 	44.0	%

  

 

6

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