Document:

Exhibit 10.1

 

COMMERCIAL LEASE AGREEMENT

 

This is a LEASE (“Lease”),
dated February 26, 2021, between Gilbert Property Management, LLC an Arizona limited liability company (“Landlord”),
and AZ2CAL Enterprises, LLC an Arizona Limited Liability Company (“Tenant”).

 

In consideration of the mutual
promises below, Landlord and Tenant agree as follows:

 

BASIC PROVISIONS

 

	Landlord	Gilbert Property Management, LLC 14269 N. 87th Street #205
	 	Scottsdale, AZ 85260
	 	P: 877-360-8839
	 	E: Info@zonedproperties.com
	 	 
	Tenant	AZ2CAL Enterprises, LLC 1525 S. Higley Road Gilbert, AZ 85296
	 	ATTN:
	 	P: (480) 666-5521
	 	E: rmwood@msn.com
	 	 
	Premises	988 S 182nd Place, Gilbert AZ 85296 APN: 304-29-038
	 	 
	 	Approximate Rentable Square Feet of the Lot: 34,717
	Base Rent	$2,750.00 paid on Commencement
	 	 
	Term	24 Months (April 1, 2021 through March 31, 2023)
	 	 
	Commencement Date	April 1, 2021
	 	 
	Security Deposit	$2,750.00 paid at execution
	 	 
	Payments	All payments made to “Zoned Properties, Inc.” as agent to Landlord
	 	 
	Use of Premises	Construction company site services, including dumpster and portable toilet rentals, and other administrative uses.

 

	Exhibits	Exhibit “A”:  	Aerial View of the lot
	 	Exhibit “B”:	Tenant’s Improvements
	 	Exhibit “C”:	
        Tenant’s Purchase Option 

        

 

     

     

    

 

ARTICLE I

Grant of Lease

 

For and in consideration
of the rents and covenants hereinafter set forth, Landlord does hereby lease to Tenant, and Tenant does hereby lease from Landlord
the Premises as described in the Basic Provisions. Tenant is hereby granted an exclusive right to use the premises during the term
of this Lease for their intended purposes.

 

ARTICLE II

Term

 

This Lease shall be for
the term of 2 years as set forth in the Basic Provisions. The date the Term commences shall be referred to in this Lease as
the “Commencement Date” and is April 1, 2021. The word “Term” will include any renewal and extensions
of the original term, where the context so requires. The Commencement Date shall be contingent upon Landlord being able to deliver
the Premises in a condition clear of any equipment, debris, or vehicles; and secured by a property boundary perimeter fence. If
Landlord cannot deliver upon these conditions, any deposits or commissions shall be refunded in full to all parties, and all agreements
contemplated between the parties shall no longer be in force or effect, and shall be considered terminated, null and void.

 

ARTICLE III

Rent, Additional Rent and Tenant
Obligations

 

3.1 Base
Rent & Additional Rent. In consideration of Landlord leasing the Premises to Tenant, Tenant shall pay Base Rent and Additional
Rent as NNN to Landlord in advance on the first day of each calendar month, beginning on the Commencement Date as follows: During
Month 1, no rent or expenses shall be due; During Months 02-24, base rent in the amount of $2,750.00 Per month plus NNN’s
to Landlord (Base Rent plus all applicable monthly Rental Tax, Property Taxes pro-rated per month, and all required Insurance with
Landlord additionally named).

 

3.1.a. Rental Abatement: During
the month of April 2021, no rent or expenses will be due to allow Tenant time to make alterations to the Premise.

 

3.2 Late
Charge and Rent without Offset. Tenant acknowledges that late payment by Tenant to Landlord of any Base Rent, Additional Rental
or other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such
costs being extremely difficult and impracticable to ascertain. Accordingly, if any Base Rent, or any other sum due from tenant
is not received within five (5) days after due date Tenant shall pay to Landlord an additional sum equal to 5% of such overdue
payment. Landlord and Tenant hereby agree that such late charge represents a fair and reasonable estimate of the costs that Landlord
will incur by reason of any such late payment. In addition to any installment of Base Rent, Additional Rental, or other charges
to be paid by Tenant accruing under the Lease, which shall not be and remains unpaid for twenty (20) days thereafter, paid when
due, shall bear interest at the rate of 12% per annum from the date when the same is due until the same shall be paid.

 

3.3
Personal Property Taxes. Tenant shall pay, prior to delinquency, all taxes assessed or levied upon its occupancy of the
Premises, or upon the trade fixtures, furnishings, equipment and all other personal property of Tenant located in the
Premises, and when possible, Tenant shall cause such trade fixtures, furnishings, equipment and other personal property to be
assessed and billed separately from the property of Landlord.

 

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3.4 Utilities.
Tenant shall be responsible for the hook up, installation, and payment of all utilities including but not limited to; water,
sewer, electricity, phone, Internet, and cable which it may desire on the Premises. Landlord will not be responsible for any services,
installations, fees, or fines associated with any installation of utilities by Tenant. Landlord will cooperate with all permit
applications required by any governmental authority.

 

ARTICLE IV

Security Deposit

 

Upon
signing the Lease, Tenant shall pay Landlord $2,750.00 as a Security Deposit. If at any time Tenant is in default, Landlord
can use the Security Deposit or any portion of it to cure the default or to compensate Landlord for all damage sustained by Landlord
resulting from Tenant’s default. If Tenant is not in default at the expiration or termination of this Lease, Landlord shall return
the entire Security Deposit to Tenant. Landlord’s obligations with respect to the Security Deposit are those of a debtor and not
of a trustee, and Landlord can commingle the Security Deposit with Landlord’s general funds. Landlord shall not be required to
pay Tenant interest on the Security Deposit.

 

ARTICLE V

Services

 

 5.1 Deleted

 

5.2 Interruption
of and Limitation on Services. Failure to any extent to make available, or any slow-down, stoppage or interruption of any services
described in Article 5 hereof resulting from any cause whatsoever shall not render Landlord liable in any respect for damages,
nor be construed as an eviction of Tenant, nor relieve Tenant from fulfillment of any covenant or agreement hereof.

 

5.3 Signs.
With Landlord’s prior written consent, Tenant shall be permitted to erect a sign or signs upon the Premises at its expense,
provided all signage is in compliance with size and other requirements of the Town of Gilbert and as may be set forth by applicable
ordinances and regulations. Landlord agrees and acknowledges that the sign may name either the Tenant or its dba. All sign costs
are paid by Tenant.

 

 5.4 Parking. N/A

 

 5.5 Utilities. Tenant to be responsible for access to and payment of all Utilities.

 

5.6 Property
Taxes. Tenant to pay Landlord a monthly pro-rated payment for all property taxes assessed on the Premises and the property,
of which Landlord will accrue and directly pay such property taxes to the appropriate authority on a timely basis applicable to
the property.

 

ARTICLE VI

Insurance AS APPLICABLE

 

6.1
Tenant’s Property Insurance. Tenant shall keep all of its equipment, Tenant Improvements (TIs), furniture, fixtures and
personal property which may be located in, upon or about the Premises insured for the benefit of Tenant on an extended
coverage basis in an amount equivalent to the full replacement value thereof against: (a) Loss or damage by fire or other
casualty; (b) such other risk or risks of a similar or dissimilar nature as are now, or may in the future be, customarily
covered with respect to a tenant’s equipment, furniture, fixtures, personal property and leasehold improvements paid for by
Tenant or Landlord located in the Premises on an “all risk” basis (generally as defined by the insurance industry),
together with vandalism and malicious mischief endorsements and other coverage as Tenant may deem appropriate or necessary.
The proceeds from any such policy shall be used by Tenant for the reasonable replacement of personal property and the
restoration of the TIs or alterations. Tenant’s policy shall name Landlord as an additional insured. In any event,
Tenant’s failure to obtain required insurance shall not affect the non-liability of Landlord pursuant to Section 6.5 for loss
or damage to Tenant’s equipment, furniture, fixtures or personal property.

 

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6.2 Tenant’s
Public Liability Insurance. During the term of this Lease, Tenant, at its cost, shall obtain and maintain for the benefit of
Tenant and Landlord a comprehensive public liability and property damage insurance policy insuring against any claims or liability
occurring in or about the Premises and arising out of the ownership, use, occupancy, or maintenance of the Premises and all areas
appurtenant thereto and shall include a Landlord’s Protective Liability endorsement attached thereto, or if such endorsement is
not available, shall name Landlord as an additional insured.

 

6.3 Insurance
Policies. All insurance required to be provided by Tenant under this Lease: (a) shall be issued by insurance companies authorized
to do business in the state of Arizona with a financial rating acceptable to Landlord (as rated in the most recent edition of Best’s
Insurance Reports); (b) shall be issued as a primary policy and name the Landlord and Landlord’s managing agent, if any, as additional
insured parties with loss payable clauses satisfactory to Landlord; (c) shall have limits in an amount of not less than $1,000,000
for injury to or death of one person in any one accident or occurrence and in an amount of not less than $2,000,000 for injury
to or death or more than one person in any one accident or occurrence and against liability for property damage of at least $1,000,000,
$2,000,000 aggregate; and (d) shall contain an endorsement requiring at least thirty (30) days prior written notice of cancellation
to Landlord, Landlord’s managing agent and Landlord’s lender, before cancellation or change in coverage, scope or amount of any
policy. Tenant shall deliver a certificate or certified copy of such policy together with evidence of payment of all current premiums
to Landlord no later than Ten (10) days before the Possession of the Premises by Tenant or the Commencement Date, whichever comes
first. Tenant’s failure to provide evidence of such coverage to Landlord may, in Landlord’s sole discretion, constitute a default
under this Lease. Tenant shall, on or before ten (10) days prior to the expiration of such policies, furnish Landlord with renewals
or “binders” thereof, or if Tenant fails to so furnish, Landlord may order such insurance and charge the cost thereof
to Tenant, which amount shall be payable by Tenant upon demand.

 

6.4 Waiver
of Subrogation. Landlord and Tenant each hereby waives any and all rights of recovery against the other, or against the officers,
employees, agents and representatives of the other, for loss of or damage to such waiving party or its property or the property
of others under its control, where such loss or damage is insured against under any valid and collectible insurance policy in force
at the time of such loss or damage. Landlord and Tenant shall, upon obtaining the policies of insurance required hereunder, give
notice to the insurance carrier or carriers that the foregoing mutual waiver of subrogation is contained in the Lease.

 

6.5
Release. Tenant agrees, to the extent not expressly prohibited by law, that Landlord, its agents, employees, invitees and
servants, shall not be liable and Tenant waives all claims for injury or damage to Tenant’s business or any loss of income
therefrom or for damage to the property of Tenant, Tenant’s employees, invitees, customers or any other person in or about
the Building, parking facilities or the Premises, nor shall Landlord be liable for any injury sustained by the person of
Tenant or by any other person, occurring in or about the Building, parking facilities or the Premises, resulting directly or
indirectly from any existing or future conditions defect or from any occurrence or act, or omission of Landlord, its agents,
employees, invitees or servants, or of any other occupants in the Building, except that such waiver of claims by Tenant shall
not apply to the negligence or misconduct of Landlord, its agents, employees, invitees and servants.

 

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6.6 Indemnity.
As material consideration to Landlord, Tenant shall indemnify, defend and hold Landlord, its agents, employees and servants
harmless from and indemnify them against any and all claims, damage and liability occasioned by or arising from Tenant’s use of
the Premises or arising from any act (or failure to act) or neglect of Tenant, its agents, employees or invitees. Tenant shall
further indemnify and hold harmless Landlord, its agents, employees and servants against and from any loss, damage, cost and expense
arising out of or in connection with any accident, theft, loss or other occurrence causing injury to any person or damage to or
loss of property due to or arising from any act (or failure to act) or neglect of Tenant, its agents, employees or invitees with
respect to the use of said Premises and any part thereof by Tenant, its agents, employees and invitees. Tenant shall further indemnify
and hold harmless Landlord from and against any and all claims arising from any breach or default by Tenant under the terms of
this Lease, or arising from any negligence of the Tenant, or any of the Tenant’s agents, contractors, or employees, and from reasonable
costs, attorneys’ fees, expenses and liabilities incurred in the defense of any claim or any action brought thereon. If any action
or proceeding be brought against Landlord by reason of any such claim, Tenant, upon notice from Landlord, shall defend the same
at Tenant’s expense by counsel satisfactory to Landlord.

 

ARTICLE VIII

Alterations and Improvements

 

8.1 Landlord’s
Consent. During the term of this Lease, Tenant shall not make any improvements, alterations, additions to or installations
in or to the Premises (“Alterations”) out of the ordinary course of business without Landlord’s prior written consent
which consent will not be unreasonably withheld, delayed, or conditioned.

 

8.2 Tenant’s
Obligations. Along with any request for Landlord’s consent to construct Alterations, and before commencement of the work or
delivery of any materials to the Premises, Tenant shall furnish Landlord with copies of the plans and specifications, names and
addresses of contractors, copies of contracts, and an indemnification in such form and amounts as may be reasonably satisfactory
to Landlord. After obtaining Landlord’s written consent, Tenant shall secure all appropriate governmental approvals and permits
and Tenant shall furnish Landlord with copies of the necessary permits and licenses. All such work shall be completed with due
diligence and only by contractors or mechanics approved in writing by Landlord and in compliance with plans and specifications
approved by Landlord. All such construction shall be performed in a manner which will not interfere with the quiet enjoyment of
other Tenants of the Building and such work will be completed at such time and in such manner as Landlord may from time to time
reasonably designate. All such Alterations shall comply with all insurance requirements and all laws, ordinances, rules and regulations
of all governmental authorities and shall be constructed in a good and workmanlike manner. Tenant shall give Landlord not less
than ten (10) days’ notice prior to the commencement of any work, and Landlord shall have the right to post notices of non-responsibility
on the Premises as provided by law. Tenant shall permit Landlord to inspect construction operations.

 

ARTICLE IX

Use

 

9.1 Use
of Premises. Tenant shall use the Premises solely for the purpose defined under the Basic Provisions on page one (1) of this
Lease titled “Use of Premises” and for no other purpose without Landlord’s written consent.

 

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9.2 Compliance
with Laws. Tenant shall promptly comply with all laws, statutes, ordinances, orders, rules, regulations and requirements affecting
the Premises and the Building, including without limitation any rules and regulations of Landlord and to any reasonable modifications
to these rules and regulations as Landlord may adopt. Tenant shall not use or permit the use of the Premises in any manner that
may injure the Premises or the Building, will tend to create waste or a nuisance or that tends to disturb or menace other tenants.

 

ARTICLE X

Maintenance and Repairs

 

10.1 Tenant’s
Responsibilities. Notwithstanding anything in this Lease to the contrary and except as specifically provided hereinafter to
the contrary and as applicable, Tenant shall, during the Lease Term, at Tenant’s expense, maintain and keep the Premises, in as
good order, condition and repair as they were at the time Tenant took possession of the same, except for reasonable wear and tear
and damage from fire and other casualties not caused by Tenant or its agents, contractors, servants, employees or invitees. As
provided elsewhere in this Lease or in the rules and regulations promulgated by Landlord, Tenant shall keep the Premises in a neat
and sanitary condition and shall not commit any nuisance or waste on the Premises. All damage or injury to the Premises caused
by Tenant, its agents, contractors, servants, employees or invitees, shall be repaired, restored and replaced promptly by Tenant
at its sole cost and expense to the satisfaction of Landlord. All repairs, restorations and replacements shall be in quality and
class equal to the original work. If Tenant fails to perform Tenant’s obligations under this section, Landlord may at Landlord’s
option enter upon the Premises after ten (10) days prior written notice to Tenant, and put the same in good order, condition and
repair, and the cost thereof together with interest thereon at the rate of 12% per annum shall be due and payable to Landlord together
with Tenant’s next rental installment.

 

10.2 Landlord’s
Responsibility. Landlord will not be responsible for any Maintenance or Repairs.

 

ARTICLE XI

Assignment or Subletting

 

Tenant
agrees to use and occupy the Premises throughout the entire Term for the purpose or purposes specified and for no other purpose,
and not to transfer, pledge, mortgage, or assign this Lease or any part thereof, whether by voluntary act, operation of law, or
otherwise, without obtaining the prior written consent of Landlord in each instance. Consent by Landlord is required in writing
for any assignment or subletting of this Lease or to any other person or entity and will not be unreasonably withheld.

 

ARTICLE XII

Damage by Fire or Other Casualty

 

 12.1 Partial Damage. Deleted

 

 12.2 Major Damage. Deleted

 

 12.3 Tenant’s Remedies. Deleted

 

ARTICLE XIII

Eminent Domain

 

13.1
Condemnation of Premises. If the whole of or any substantial part of the Premises is taken by any public authority under
the power of eminent domain, or sold under the threat of the exercise of such power, or taken in any manner for any public or
quasi-public use (all of which are hereinafter called “condemnation”), so as to render the remaining portion of the
Premises unsuitable for the purposes intended hereunder, then the Landlord shall have the option to rebuild the Premises to
the extent of the proceeds received from the public authority or to terminate the remaining term of this Lease as of the day
possession shall be taken or the right to take possession be acquired by such public authority and Landlord shall make a pro
rate refund of any prepaid rent.

 

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13.2 Award
of Damages. All damages awarded for such taking by condemnation shall belong to and be the property of Landlord, and Tenant
hereby assigns to Landlord its interest, if any, in said award, including any award for the leasehold estate.

 

ARTICLE XIV

Surrender of Premises

 

14.1 Surrender.
On the last day of the Term, or on the earlier termination thereof, Tenant shall peaceably surrender the Premises in good condition
and repair consistent with Tenant’s duty to make repairs as herein provided, reasonable wear and tear and damage by casualty or
act of God excepted. On or before the last day of the Term, or the date of earlier termination thereof, Tenant shall, at its expense,
remove all of its property, any signage, movable furniture, modular or mobile offices, trade fixtures, and equipment from the Premises
at Tenant’s sole cost and expense, and all property not removed shall be deemed abandoned. Tenant shall reimburse Landlord for
any expenses incurred by Landlord for removal or storage of abandoned property and for restoring said Premises to such good order,
condition and repair.

 

14.2 Holding
Over. If the Premises are not surrendered at the end of the Lease Term or sooner termination thereof, Tenant shall indemnify
Landlord against loss or liability resulting from delay by Tenant in surrendering the Premises. If Tenant remains in possession
of the Premises after expiration of this Lease, it shall be deemed to be occupying the Premises without claim of right and Tenant
shall pay Landlord for all reasonable costs arising out of any loss or liability resulting from delay by Tenant in so surrendering
the Premises and shall pay a charge for each day of occupancy an amount equal to 150% the Base Rent (on a daily basis) previously
charged Tenant by Landlord immediately prior to the termination or expiration of the Term.

 

ARTICLE XV

Default of Tenant

 

15.1 Defaults.
The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant:

 

(a) Without
the prior written consent of Landlord or except as expressly permitted in this Lease, Tenant vacates or abandons the Premises,
or Tenant assigns, pledges, mortgages, transfers, or sublets this Lease in any manner.

 

(b)
Failure by Tenant to observe or perform any of Tenant’s obligations under the Lease, including (i) failure to make any
payment of Base Rent, Additional Rental or any other payment required to be made by Tenant hereunder within five (5) days
after said payment is due, where such failure shall continue for a period of five (5) days after written notice hereof from
Landlord to Tenant; or (ii) failure to perform any material covenant, condition or provision of this Lease to be observed or
performed by Tenant, other than the payment of funds described above, where such failure shall continue for a period of
thirty (30) days after written notice hereof from Landlord to Tenant, provided, however, that if the nature of Tenant’s
default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be
in default if Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to
completion.

 

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(c) Tenant
causes any of the following events: (i) making by Tenant of any general assignment, or general arrangement for the benefit of creditors;
(ii) filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement
under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within 60 days);
(iii) appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or
of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) attachment, execution
or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease,
where such seizure is not discharged within thirty (30) days. As used in this Section or elsewhere in this Article, the term “Tenant”
shall also mean any guarantor of Tenant’s obligations under this Lease.

 

15.2 Remedies.
All rights and remedies of Landlord herein enumerated shall be cumulative with all other remedies at law or in equity and are not
intended to be exclusive of any other remedies or means of redress. In the event of any default or breach by Tenant, Landlord,
in Landlord’s sole discretion, shall have the right, without any further demand or notice, to pursue any one or more of the following
remedies:

 

(a) Lock
the doors to the Premises and exclude Tenant therefrom. Upon Landlord identifying and listing each item of Tenant’s property and
providing such list to Tenant, retain or take possession of any property belonging to Tenant upon the Premises pursuant to Landlord’s
landlord lien. Such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of
Tenant, and Landlord shall in no event be liable for any damage or loss thereto. Client records, files and other confidential information
shall not be subject to this or other Landlord remedy provisions.

 

(b) To
institute suit against Tenant to collect each installment of Base Rent, or other sum as it becomes due or to enforce any other
obligation under this Lease.

 

(c) As
a matter of right, to procure the appointment of a receiver by any court of competent jurisdiction upon ex parte application and
without notice, notice being hereby expressly waived. All rents, issues, and profits, income and revenue from the Premises shall
be applied by such receiver to the payment of the Base Rent, together with any other obligations of the Tenant under this Lease;
or

 

(d)
To re-enter and take possession of the Premises and all personal property therein and to remove Tenant and Tenant’s agents
and employees therefrom, and either: (i) Terminate this Lease and sue Tenant for damages for breach of the obligations of
Tenant under this Lease; or (ii) Without terminating this Lease, relet, assign or sublet the Premises as the agent and for
the account of Tenant in the name of Landlord or otherwise, upon the best terms and conditions Landlord may make with the new
tenant for such term or terms (which may be greater or less than the period which would otherwise have constituted the
balance of the Lease Term) and on such conditions as Landlord, in its reasonable and prudent discretion, may determine and
may collect and receive the rent therefor, provided Landlord shall in no way be responsible or liable for any failure to
relet the Premises or any part thereof, or for any failure to collect any rent due upon any such reletting, provided however,
Landlord shall have the duty to make a reasonable effort to relet and collect rent. In this event, the rents received on any
such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, reasonable
and necessary repossession costs, attorneys’ fees, real estate commission paid, alteration costs and expenses of preparing
said Premises for reletting, and thereafter toward payment of the Base Rent, and of any other amounts payable by Tenant under
this Lease. If the sum realized shall not be sufficient to pay such Base Rent, Additional Rental and other charges, within
ten (10) days after demand, Tenant will pay to Landlord any such deficiency as it accrues. Landlord may sue Tenant therefor
as each deficiency shall arise, if Tenant shall fail to pay such deficiency.

 

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(e) No
failure by Landlord to insist upon the strict performance of any covenant, agreement, term or condition of this Lease or to exercise
any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such
breach, shall constitute a waiver of any such breach or the relinquishment for the future of such covenant, agreement, term or
condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Tenant, and no breach thereof,
shall be waived, altered, modified or terminated except by written instrument executed by Landlord

 

15.3 Defaults
by Landlord and Remedies of Tenant. Landlord shall not be in default unless Landlord fails to perform obligations required
of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord and
to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished
to Tenant in writing, specifying wherein Landlord has failed to perform such obligations; provided, however, that if the nature
of Landlord’s obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be in default
if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion.
Tenant’s obligation to pay Rent and other sums due under this Lease shall be abated during any period of time that the Premises
cannot be used by Tenant due to Landlord’s default. The Tenant shall have all remedies available at law or in equity. All
rights and remedies of Tenant are cumulative and are not intended to be exclusive of any other remedies or means of redress.

 

ARTICLE XVI

Subordination and Attornment

 

16.1 Subordination.
Provided the secured creditor rights of Tenant’s purchase money or other creditors in trade fixtures or equipment are not abrogated
or compromised thereby this Lease shall be subject and subordinate to any mortgage or deed of trust now or hereafter placed upon
the Premises by Landlord, its successors or assigns, and to all consolidations, replacements, renewals and extensions thereof.
Tenant agrees at any time hereafter, upon demand (and in any event, no later than ten (10) days of Tenant’s receipt of notice from
Landlord), to execute and deliver any instruments, releases or other documents that may be reasonably required for the purpose
of the subjecting and subordinating this Lease, as above provided, to the lien of any such mortgage, deed of trust or ground lease,
as the case may be, and failing to do so, within ten (10) days after written demand, does hereby make, constitute and irrevocably
appoint Landlord as its Attorney in Fact and in its name, place and stead to do so. It is agreed, nevertheless, that as long as
Tenant is not in default in the payment of Base Rent, and the payment of other charges to be paid by Tenant under this Lease, and
the performance of all covenants, agreements and conditions to be performed by Tenant under this Lease, then Tenant’s right
to continue to occupy the Premises and to conduct its business thereon, in accordance with the terms of this Lease as against any
landlord, mortgagee, trustee or their successors or assigns shall not be interfered with. The above subordination shall be effective
without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such subordination.

 

16.2
Attornment. Notwithstanding anything contained in this Article, in the event the holder of any mortgage or deed of trust
shall at any time elect to have this Lease constituted prior and superior to its mortgage or deed of trust, then, and in such
event, upon any such holder or landlord notifying Tenant to that effect in writing, this Lease shall be deemed prior and
superior to such mortgage or deed of trust, whether this Lease is dated prior to or subsequent to the date of such mortgage
or deed of trust and Tenant shall execute such attornment agreement as may be reasonably requested by said holder. In the
event any proceedings are brought for default under any such ground or underlying lease, or in the event of foreclosure or
the exercise of the power of sale under any such mortgage or deed of trust, Tenant shall attorn to the purchaser of the
Premises at such foreclosure or sale and recognize such purchaser as Landlord under this Lease, provided such purchaser
agrees to be bound by the terms of this Lease.

 

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ARTICLE XVII

Miscellaneous

 

17.1 Estoppel
Certificate. From time to time and within fifteen (15) days after written request by Landlord, Tenant agrees to deliver to
Landlord a statement in writing certifying to the following: (i) this Lease is unmodified and in full force and effect (or if there
have been modifications that the Lease as modified is in full force and effect and stating the modifications); (ii) the dates to
which the Base Rent, and other charges have been paid; (iii) Landlord is not in default under any provision of this Lease or, if
in default, the nature thereof specified in detail; (iv) the amount of monthly Base Rent and Additional Rental currently payable
by Tenant; (v) the amount of any prepaid rent, deposits or charges and (vi) such other matters as may be reasonably requested by
Landlord or any mortgagee or prospective purchaser of the Premises. Any such statement may be conclusively relied upon by any prospective
purchaser or encumbrancer of the Premises.

 

17.2 Notices.
All notices, demands and requests shall be in writing, and shall be effectively served in any of the following manners: If addressed
to Tenant, a notice is effectively served by facsimile, by hand delivery to an officer of Tenant, or by forwarding such notice,
demand or request by certified mail, postage prepaid addressed to Tenant at the address set forth in the Basic Provisions in which
case said notice shall be deemed received 72 hours after mailing such notice; if addressed to Landlord, a notice is effectively
served by facsimile, by delivery to an officer of Landlord, or by forwarding such notice, demand or request by certified or registered
mail, postage prepaid, addressed to Landlord at the address set forth in the Basic Provisions or at such other address as Landlord
may designate by written notice to Tenant, in which case said notice shall be deemed received 72 hours after mailing such notice.
All notices delivered by electronic facsimile or hand delivery shall be deemed effectively served upon delivery.

 

17.3 Landlord’s
Enforcement Rights. All rights and remedies of Landlord under this Lease or that may be provided by law may be executed by
Landlord in its own name, individually, or in the name of its agent and all legal proceedings for the enforcement of any such rights
or remedies, including those set forth in Article XV, may be commenced and prosecuted to final judgment and execution by Landlord
in its own name or in the name of its agent. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible,
be cumulative with all other remedies at law or in equity.

 

17.4 Quiet
and Peaceful Possession. Landlord covenants and agrees that Tenant, upon paying the Base Rent, and other charges herein provided
for and in observing and keeping the covenants, agreements and conditions of this Lease, shall lawfully and quietly hold, occupy
and enjoy the Premises during the Term of this Lease.

 

17.5 Binding
Effect; Severability; Choice of Law. If any term or provision of this Lease shall to any extent be held invalid or unenforceable
by a court of competent jurisdiction, the remaining terms and provisions of this Lease shall not be affected thereby, but each
term and provision of this Lease shall be valid and enforced to the fullest extent permitted by law. This Lease shall be construed
and enforced in accordance with the laws of the state of Arizona.

 

    Page 10 of 15

     

    

 

17.6 Governmental
Laws; Tenant’s Covenants. All rights and occupancy of Tenant herein shall be subject to all governmental laws, ordinances and
regulations, and Tenant shall comply with the same. Tenant covenants not to do or suffer any waste or damage or disfigurement or
injury to the Premises or Building and Tenant further covenants that it will not unreasonably vacate or abandon the Premises during
the term of this Lease.

 

17.7 Broker’s
Commission. Landlord and Tenant represent and warrant to each other that this Lease was brought about solely due to the efforts
of Landlord and Tenant and that there are no other claims for brokerage commissions or finder’s fees in connection with this Lease,
EXCEPT for Gail Brown of Avison Young—Arizona, Ltd. (Tenant/Buyer’s Broker). Tenant agrees to indemnify Landlord
against and hold it harmless from all liabilities arising from any claims, including any reasonable attorneys’ fees connected therewith,
relating to claims for real estate commission arising out of Tenant’s conversations or negotiations with any other real estate
broker or leasing agent other than Gail Brown.

Upon
lease execution, Landlord shall pay to Avison Young a commission equal to five percent (5%) of the total lease consideration over
the Lease Term ($3,240.00). Should the Tenant exercise its Option to Purchase, upon COE, Landlord (Seller) shall pay to Avison
Young a commission equal to three percent (3%) of the purchase price, minus the unamortized portion of the lease commission previously
paid ($10,050.00 minus $135.00 for each month of the Lease Term remaining).

 

17.8 Landlord’s
Liability. The term “Landlord” as used in this Lease so far as covenants or obligations on the part of Landlord are
concerned shall be limited to mean and include only the owner or owners of the Premises at the time in question, and in the event
of any transfer or conveyance the then grantor shall be automatically freed and released from and after the date of such transfer
or conveyance of all personal liability as respects the performance of any covenant or obligation under this Lease. In case of
default, breach or violation by Landlord under the terms of this lease, Tenant shall look solely to the equity of Landlord in the
Premises (at the time of the breach or default) or to the proceeds of a sale of Landlord’s equity in the Premises pursuant to foreclosure
of a judgment against Landlord.

 

17.9 Consents
and Approvals. Any consent or approval of either party provided for under the terms of this Lease shall in no event be unreasonably
or arbitrarily delayed or withheld.

 

17.10 Waivers.
No waiver by Landlord or Tenant of any provision hereof shall be deemed a waiver of any other provision hereof or any subsequent
breach by Tenant or Landlord of the same or any other provision. Landlord’s consent to or approval of any act shall not be deemed
to render unnecessary the obtaining of Landlord’s consent to or approval of any subsequent act by Tenant.

 

 17.11 Time of the Essence. Time is of the essence of this Lease.

 

17.12 Rules
and Regulations. Landlord may from time to time adopt, promulgate, and revise “Rules and Regulations” of the Premises
with respect to the safety, care and cleanliness of the Premises and the Building, and the preservation of good order thereon.
Tenant shall perform, observe and comply with the Rules and Regulations and, upon written notice thereof to Tenant,

 

17.13 Attorney’s
Fees. If either party brings any legal action to enforce this Lease or declare rights hereunder, the prevailing party in any
such action, on trial or appeal, shall be entitled to its costs and expenses incurred, together with reasonable attorney’s fees
to be paid by the losing party as fixed by the court.

 

17.14 Executed
in Counterparts. This Lease may be executed in counterparts, each of which is deemed an original, but all of which constitute
one and the same instrument. Signatures sent via pdf or facsimile shall be deemed original signatures.

 

[SIGNATURE PAGE TO FOLLOW]

 

    Page 11 of 15

     

    

 

The parties have caused this Lease to be executed as
of the day and year written above.

 

	LANDLORD:	 	 
	 	 	 	 
	Gilbert Property Management,
    LLC

    an Arizona limited liability company	 	 
	 	 	 	 
	By	/s/
    Bryan McLaren	 	Date: 3/3/2021
	 	 	 	 
	Its:	Authorized Agent	 	 
	 	 	 	 
	TENANT:	 	 
	 	 	 
	AZ2CAL Enterprises, LLC	 	 
	an Arizona limited liability
    company	 	 
	 	 	 	 
	By:	/s/
    Robin Wood	 	Date: 03/01/2021
		Robin Wood	 	 
	 	 	 	 
	Its:	Member	 	 

 

    Page 12 of 15

     

    

 

EXHIBIT “A”

 

AERIAL VIEW OF THE PREMISES

 

 

    Page 13 of 15

     

    

 

EXHIBIT “B”

 

TENANT’S IMPROVEMENTS

 

Tenant may, at its discretion, have electric, sewer
and water connected to the Premises. Landlord will cooperate with Tenant's efforts to obtain permits and approvals during the Construction
Period and during the entire lease term.

 

Other than the aforementioned Tenant Improvements,
Tenant has inspected the Premises and accepts and rents the same in “As-Is” condition, with no other representations
or warranties by Landlord of any kind or nature, express or implied. Landlord shall have no obligation to install or pay for any
improvements or alterations in the Premises. It is acknowledged and agreed that all Tenant Improvements under this Lease are and
shall be the property of Landlord from and after their installation.

 

    Page 14 of 15

     

    

 

EXHIBIT “C”

 

TENANT’S OPTION TO PURCHASE

 

Option
to purchase can be exercised any time after the 4th month of the lease term, but no later than the end of the 12th
month of the lease term, by giving the Landlord written notice. The purchase price shall be Three Hundred Thirty-Five Thousand
and 00/100 Dollars ($335,000.00). Should the Tenant exercise its Option to Purchase, $750 of each lease payment made prior to COE,
along with the security deposit, shall be credited toward the Purchase Price of the Property.

 

Should
the Tenant exercise its Option to Purchase, COE shall occur no later than 30 days after opening of escrow. The AAR Vacant Land/Lot
Purchase Contract shall be used to document the transaction. The parties will make every reasonable attempt to fully execute the
purchase contract within 7 business days of Tenant giving written notice to Landlord of its desire to exercise the Option to Purchase.
No earnest money deposit shall be required.

 

Escrow agent shall be Chicago Title (Susan
Bush, susan.bush@ctt.com, 602.667.1180.

 

 

Page 15 of 15Exhibit 4.4

 

STRATIM CLOUD ACQUISITION CORP.

 

and

 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

WARRANT AGREEMENT

 

Dated as of ____________, 2021

 

THIS WARRANT AGREEMENT
(this “Agreement”), dated as of ___________, 2021, is by and between Stratim Cloud Acquisition Corp., a Delaware
corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York limited purpose
trust company, as warrant agent (in such capacity, the “Warrant Agent”).

 

WHEREAS, the Company
has entered into that certain Warrant Purchase Agreement with Stratim Cloud Acquisition, LLC, a Delaware limited liability company
(the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 4,666,667 warrants (or up
to 5,166,667 warrants in the aggregate if the Over-allotment Option (as defined below) in connection with the Company’s Offering
(as defined below) is exercised in full) simultaneously with the closing of the Offering (and the closing of the Over-allotment
Option, if applicable) bearing the legend set forth in Exhibit B hereto (the “Sponsor Warrants”) at a purchase
price of $1.50 per Sponsor Warrant;

 

WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended initial merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business
Combination”), the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible
into up to an additional 1,000,000 Sponsor Warrants at a price of $1.50 per Sponsor Warrant;

 

WHEREAS, the Company
is engaged in an initial public offering (the “Offering”) of units of the Company’s equity securities,
each such unit comprised of one share of Common Stock (as defined below) and one-third of one Public Warrant (as defined below)
(the “Units”) and, in connection therewith, has determined to issue and deliver up to 9,583,333 redeemable warrants
(including up to 1,250,000 redeemable warrants subject to the Over-allotment Option) to public investors in the Offering (the “Public
Warrants” and, together with the Sponsor Warrants, the “Warrants”). Each whole Warrant entitles the
holder thereof to purchase one share of Class A common stock of the Company, par value $0.0001 per share (“Common
Stock”), for $11.50 per whole share, subject to adjustment as described herein. Only whole Warrants are exercisable.
A holder of the Public Warrants will not be able to exercise any fraction of a Warrant;

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1,
File No. 333-[●] (the “Registration Statement”) and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the
Public Warrants and the shares of Common Stock included in the Units;

 

     

     

    

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption and exercise of the Warrants;

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding and legal obligations
of the Company, and to authorize the execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

		1.	Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

		2.	Warrants.

 

		2.1	Form of Warrant. Each Warrant shall initially be issued in registered form only.

 

		2.2	Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent, either by manual or facsimile signature, pursuant to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

		2.3	Registration.

 

	 	2.3.1	Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book-entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in its account, a “Participant”).

 

If the Depositary subsequently
ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct the Warrant Agent regarding
making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer
necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the
Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the
Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants (“Definitive
Warrant Certificates”) which shall be in the form annexed hereto as Exhibit A.

 

    2

     

    

 

Physical certificates,
if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, the Chief Executive Officer, the
President, the Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile
signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before
such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

	 	2.3.2	Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

		2.4	Detachability of Warrants. The shares of Common Stock and Public Warrants comprising the Units shall begin separate trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of BofA Securities, Inc. and Cowen and Company, LLC, but in no event shall the shares of Common Stock and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a Current Report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds then received by the Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing of the Current Report on Form 8-K, and (B) the Company issues a press release announcing when such separate trading shall begin.

 

		2.5	Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units. If, upon the detachment of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder.

 

		2.6	Sponsor Warrants. The Sponsor Warrants shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its Permitted Transferees (as defined below) the Sponsor Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) including the shares of Common Stock issuable upon exercise of the Sponsor Warrants, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination, and (iii) shall not be redeemable by the Company; provided, however, that in the case of (ii), the Sponsor Warrants and any shares of Common Stock issued upon exercise of the Sponsor Warrants may be transferred by the holders thereof:

 

	 	(a)	to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsor, or any affiliates of the Sponsor;

 

    3

     

    

 

	 	(b)	in the case of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization;

 

	 	(c)	in the case of an individual, by virtue of laws of descent and distribution upon death of the individual;

 

	 	(d)	in the case of an individual, pursuant to a qualified domestic relations order;

 

	 	(e)	by private sales or transfers made in connection with the consummation of the Company’s Business Combination at prices no greater than the price at which the securities were originally purchased;

 

	 	(f)	in the event of the Company’s liquidation prior to the Company’s completion of an initial Business Combination;

 

	 	(g)	by virtue of the laws of Delaware or the Sponsor’s limited liability company agreement, as amended, upon dissolution of the Sponsor; and

 

	 	(h)	in the event of the Company’s completion of a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property subsequent to the completion of the initial Business Combination; provided, however, that in the case of clauses (a) through (e) these permitted transferees (the “Permitted Transferees”) must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in this Agreement.

 

		3.	Terms and Exercise of Warrants.

 

		3.1	Warrant Price. Each Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per whole share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant to a “cashless exercise,” to the extent permitted hereunder) described in the prior sentence at which shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days (unless otherwise required by the Commission, any national securities exchange on which the Warrants are listed or applicable law); provided, that the Company shall provide at least three (3) Business Days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants.

 

    4

     

    

 

		3.2	Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) (A) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a Business Combination, and (ii) the date that is twelve (12) months from the date of the closing of the Offering, and (B) terminating at the earlier to occur of: (w) 5:00 p.m., New York City time on the date that is five (5) years after the date on which the Company completes its initial Business Combination, (x) the liquidation of the Company in accordance with the Company’s amended and restated certificate of incorporation, as amended from time to time, if the Company fails to consummate a Business Combination, and (y) other than with respect to the Sponsor Warrants then held by the Sponsor or its Permitted Transferees, the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below, with respect to an effective registration statement or a valid exemption therefrom being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a Sponsor Warrant then held by the Sponsor or its Permitted Transferees) in the event of a redemption (as set forth in Section 6 hereof), each Warrant (other than a Sponsor Warrant then held by the Sponsor or its Permitted Transferees) not exercised on or before the Expiration Date shall become null and void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in duration among all the Warrants.

 

		3.3	Exercise of Warrants.

 

	 	3.3.1	Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised (the “Book-Entry Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”) any shares of Common Stock pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) the payment in full of the Warrant Price for each share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as follows:

 

	 	(a)	in lawful money of the United States, in good certified check or good bank draft payable to the order of the Warrant Agent;

 

	 	(b)	in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s board of directors (the “Board”) has elected to require all holders of the Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common Stock equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined in this subsection 3.3.1(b)) over the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of this subsection 3.3.1(b), Section 6.1 and Section 6.4, the “Fair Market Value” shall mean the average last reported sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants, pursuant to Section 6 hereof;

 

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	 	(c)	with respect to any Sponsor Warrant, so long as such Sponsor Warrant is held by the Sponsor or a Permitted Transferee, by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined in this subsection 3.3.1(c)) over the Warrant Price, by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Fair Market Value” shall mean the average last reported sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise of the Sponsor Warrant is sent to the Warrant Agent; 

 

	 	(d)	as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

	 	(e)	as provided in Section 7.4 hereof.

 

The Warrant Agent shall forward
funds received for warrant exercises in a given month by the 5th (5th) Business Day of the following month by wire transfer
to an account designated by the Company.

 

	 	3.3.2	Issuance of Shares of Common Stock on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless (a) a registration statement under the Securities Act with respect to the shares of Common Stock underlying the Public Warrants is then effective and (b) a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4 or a valid exemption from registration is available. No Warrant shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the shares of Common Stock issuable upon such Warrant exercise have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants. Subject to Section 4.6 of this Agreement, a Registered Holder of Public Warrants may exercise its Public Warrants only for a whole number of shares of Common Stock. In no event will the Company be required to net cash settle the Warrant exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis,” the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of Common Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such holder.

 

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	 	3.3.3	Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and non-assessable.

 

	 	3.3.4	Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding date on which the share transfer books or book-entry system are open.

 

	 	3.3.5	Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election is made by a holder, such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% or such other amount as the holder may specify (the “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission, as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

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		4.	Adjustments.

 

		4.1	Stock Dividends.

 

	 	4.1.1	Split-Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock. A rights offering to holders of shares of Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the shares of Common Stock) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for shares of Common Stock, in determining the price payable for shares of Common Stock, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. No shares of Common Stock shall be issued at less than their par value.

 

	 	4.1.2	Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the shares of Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of the shares of Common Stock in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with its initial Business Combination or to redeem 100% of the Company’s public shares of Common Stock if the Company does not complete its initial Business Combination within the time period set forth therein or (ii) with respect to any other provision relating to the Company’s stockholders’ rights or pre-initial Business Combination activity, or (e) in connection with the redemption of public shares upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the shares of Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution to the extent it does not exceed $0.50 (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant).

 

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		4.2	Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

		4.3	Adjustments in Exercise Price.

 

	 	4.3.1	Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.

 

	 	4.3.2	If (x) the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Common Stock (with such issue price or effective issue price to be determined in good faith by the Board and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any shares of Class B common stock, par value $0.0001 per share, of the Company held by the Sponsor, certain executive officers of the Company, or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business Combination on the date of the completion of the Company’s initial Business Combination (net of redemptions), and (z) the volume-weighted average trading price of Common Stock during the twenty (20) trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described in Section 6.1 shall be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described in Section 6.2 shall be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

 

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	 	4.4	Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of the Company with or into another corporation (other than a merger or consolidation in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however, that (i) if the holders of the shares of Common Stock were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such merger or consolidation, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the shares of Common Stock in such merger or consolidation that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the shares of Common Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for in the Company’s amended and restated certificate of incorporation or as a result of the repurchase of shares of Common Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding shares of Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the shares of Common Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided, further, that if less
than 70% of the consideration receivable by the holders of the shares of Common Stock in the applicable event is payable in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each share of Common Stock shall be the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of the shares of Common Stock consists exclusively of cash, the amount of such cash per share of Common Stock, and (ii) in all other cases, the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event shall the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

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		4.5	Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

		4.6	No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue fractional shares of Common Stock upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to such holder.

 

		4.7	Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common Stock as is stated in the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

		4.8	Other Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent registered public accountants, investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8 as a result of any issuance of securities in connection with a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

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		5.	Transfer and Exchange of Warrants.

 

		5.1	Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

		5.2	Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer reasonably acceptable to the Warrant Agent, duly executed by the registered holder thereof, or by a duly authorized attorney, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant, each Book-Entry Warrant may be transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Sponsor Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

		5.3	Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

		5.4	Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

		5.5	Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

		5.6	Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date.

 

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		6.	Redemption.

 

		6.1	Redemption of Warrants when the price per share of Common Stock equals or exceeds $18.00. Subject to Sections 6.5 and 6.6 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office(s) of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at the price (the “Redemption Price”) of $0.01 per Warrant, provided that (i) the last sales price of the Common Stock reported has been at least $18.00 per share (subject to adjustment in compliance with Section 4 hereof), on each of twenty (20) trading days, within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given and (ii) there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.3 below) or the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1.

 

		6.2	Redemption of Warrants when the price per share of Common Stock equals or exceeds $10.00. Subject to Sections 6.5 and 6.6 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, commencing ninety (90) days after they are first exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that (i) the last reported sales price of the Common Stock reported has been at least $10.00 per share (subject to adjustment in compliance with Section 4 hereof), on the trading day prior to the date on which notice of the redemption is given and (ii) there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.3 below). During the Redemption Period in connection with a redemption pursuant to this Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1 and receive a number of shares of Common Stock determined by reference to the table below, based on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Fair Market Value” (as such term is defined in subsection 3.3.1(b)) (a “Make-Whole Exercise”).

 

	 	 	Fair Market Value of shares of Common Stock ($)	 
	Redemption Date (period to

 expiration of the Warrants)	 	≤10	 	 	11	 	 	12	 	 	13	 	 	14	 	 	15	 	 	16	 	 	17	 	 	≥18	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3 months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

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The exact Fair Market Value and
Redemption Date (as defined below) may not be set forth in the table above, in which case, if the Fair Market Value is between
two values in the table or the Redemption Date is between two redemption dates in the table, the number of shares of Common Stock
to be issued for each Warrant exercised in a Make-Whole Exercise shall be determined by a straight-line interpolation between the
number of shares set forth for the higher and lower Fair Market Values and the earlier and later redemption dates, as applicable,
based on a 365- or 366-day year, as applicable.

 

The stock prices set forth in
the column headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of
a Warrant is adjusted pursuant to Section 4. The adjusted stock prices in the column headings shall equal the stock prices immediately
prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise of
a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of
a Warrant as so adjusted. The number of shares in the table above shall be adjusted in the same manner and at the same time as
the number of shares issuable upon exercise of a Warrant. In no event will the number of shares issued in connection with a Make-Whole
Exercise exceed 0.361 shares of Common Stock per Warrant (subject to adjustment).

 

		6.3	Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (such 30-day period, the “Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice.

 

		6.4	Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with subsection 3.3.1(b) or Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3 hereof and prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

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		6.5	Exclusion of Sponsor Warrants. The Company agrees that the redemption rights provided in Section 6.1 and Section 6.2 shall not apply to the Sponsor Warrants if at the time of the redemption such Sponsor Warrants continue to be held by the initial holder thereof or its Permitted Transferees. However, once such Sponsor Warrants are transferred (other than to Permitted Transferees under subsection 2.6), the Company may redeem the Sponsor Warrants, provided that the criteria for redemption are met, including the opportunity of the holder of such Sponsor Warrants to exercise the Sponsor Warrants prior to redemption pursuant to Section 6.4. Sponsor Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Sponsor Warrants and shall become Public Warrants under this Agreement, including for purposes of Section 9.8 hereof.

 

		6.6	Public Warrants Held By the Company’s Officers or Directors. The Company agrees that if Public Warrants are held by any of the Company’s officers or directors, the Public Warrants held by such officers and directors shall be subject to the redemption rights provided in Section 6.2, except that such officers and directors shall only receive “Fair Market Value” for such Public Warrants if they exercise their Public Warrants in connection with such redemption. “Fair Market Value” in this Section 6.6 shall mean the last reported sale price of the Public Warrants on the applicable Redemption Date.

 

		7.	Other Provisions Relating to Rights of Holders of Warrants.

 

		7.1	No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other matter.

 

		7.2	Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

		7.3	Reservation of Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

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		7.4	Registration of Shares of Common Stock; Cashless Exercise at Company’s Option.

 

	 	7.4.1	Registration of Shares of Common Stock. The Company agrees that as soon as practicable, but in no event later than twenty (20) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission a registration statement for the registration, under the Securities Act of the shares of Common Stock issuable upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within sixty (60) Business Days following the closing of its initial Business Combination and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration statement covering the issuance of the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor statute) or another exemption) for that number of shares of Common Stock equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) over the Warrant Price by (y) the Fair Market Value and (B) 0.361 shares of Common Stock per Warrant. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume-weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless exercise” is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a “cashless basis” in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the shares of Common Stock issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1.

 

	 	7.4.2	Cashless Exercise at Company’s Option. If Common Stock is at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act (or any successor statute), the Company may, at its option, (i) require holders of Public Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor statute) as described in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the shares of Common Stock issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable efforts to register or qualify for sale the shares of Common Stock issuable upon exercise of the Public Warrant under applicable blue sky laws to the extent an exemption is not available.

 

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		8.	Concerning the Warrant Agent and Other Matters.

 

		8.1	Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company and the Warrant Agent shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

		8.2	Resignation, Consolidation, or Merger of Warrant Agent.

 

	 	8.2.1	Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation or other entity organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

	 	8.2.2	Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the Company’s transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

	 	8.2.3	Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be consolidated or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act.

 

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		8.3	Fees and Expenses of Warrant Agent.

 

	 	8.3.1	Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

	 	8.3.2	Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement.

 

		8.4	Liability of Warrant Agent.

 

	 	8.4.1	Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer or the Secretary of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

	 	8.4.2	Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

 

	 	8.4.3	Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and non-assessable.

 

		8.5	Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common Stock through the exercise of the Warrants.

 

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		8.6	Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and Continental Stock Transfer & Trust Company, as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

		9.	Miscellaneous Provisions.

 

		9.1	Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns.

 

		9.2	Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when delivered if by hand or overnight delivery or if sent by trackable mail or private courier service when sent, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Stratim Cloud Acquisition Corp.

369 Pine St Suite 103

San Francisco, CA 94104

Attention: Chief Financial Officer

 

Any notice, statement or demand
authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given when delivered if by hand or overnight delivery or if sent by trackable mail or private courier service when
sent, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

		9.3	Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed by and construed in accordance with the laws of the State of New York, including, without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations Law and New York Civil Practice Laws and Rule 327(b). The Company hereby agrees that any action, proceeding or claim against it arising out of, or otherwise based on, this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be the exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

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Notwithstanding the foregoing
the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or
any other claim for which the federal district courts of the United States of America are the sole and exclusive forum. Any person
or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented
to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions
above, is filed in a court other than a court located within the State of New York or the United States District Court for the
Southern District of New York (a “ foreign action”) in the name of any warrant holder, such warrant holder shall be
deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New York
or the United States District Court for the Southern District of New York in connection with any action brought in any such court
to enforce the forum provisions (an “ enforcement action”), and (y) having service of process made upon such warrant
holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such
warrant holder.

 

		9.4	Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person, corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

		9.5	Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by it.

 

		9.6	Counterparts; Electronic Signatures. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this Agreement transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

		9.7	Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

		9.8	Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of (i) curing any ambiguity or to correct any mistake, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the Prospectus, or defective provision contained herein or (ii) adding or changing any provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the rights of the Registered Holders under this Agreement. All other modifications or amendments, including any modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Sponsor Warrants, shall require the vote or written consent of the Registered Holders of 50% of the then-outstanding Public Warrants and, solely with respect to any amendment to the terms of the Sponsor Warrants or any provision of this Agreement with respect to the Sponsor Warrants, 50% of the then-outstanding Sponsor Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders.

 

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		9.9	Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

		9.10	Business Continuity Plan. The Warrant Agent shall maintain plans for business continuity, disaster recovery, and backup capabilities and facilities designed to ensure the Warrant Agent’s continued performance of its obligations under this Agreement, including, without limitation, loss of production, loss of systems, loss of equipment, failure of carriers and the failure of the Warrant Agent’s or its supplier’s equipment, computer systems or business systems (“Business Continuity Plan”). Such Business Continuity Plan shall include, but shall not be limited to, testing, accountability and corrective actions designed to be promptly implemented, if necessary. In addition, in the event that the Warrant Agent has knowledge of an incident affecting the integrity or availability of such Business Continuity Plan, then the Warrant Agent shall, as promptly as practicable, but no later than twenty-four (24) hours (or sooner to the extent required by applicable law or regulation) after the Warrant Agent becomes aware of such incident, notify the Company in writing of such incident and provide the Company with updates, as deemed appropriate by the Warrant Agent under the circumstances, with respect to the status of all related remediation efforts in connection with such incident. The Warrant Agent represents that, as of the date of this Agreement, such Business Continuity Plan is active and functioning normally in all material respects.

 

		9.11	Confidentiality. The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party, including inter alia, personal, non-public warrant holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Warrant Agreement, including the fees for services, shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law or regulation, including, without limitation, pursuant to requests from the Securities and Exchange Commission and subpoenas from state or federal government authorities (e.g., in divorce and criminal actions).

 

Exhibit A Form of Warrant
Certificate

 

Exhibit B Legend —
Sponsor’s Warrants

 

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

 

	 	STRATIM CLOUD ACQUISITION CORP.
	 	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:	 
	 	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 	 	 	 
	 	By:	 
	 	 	Name: 	James F. Kiszka
	 	 	Title:	Vice President

 

[Signature Page to Warrant Agreement]

 

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EXHIBIT A

 

Form of Warrant Certificate

 

[FACE]

 

Number

 

Warrants

 

THIS WARRANT SHALL BE NULL AND VOID IF
NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

Stratim Cloud Acquisition Corp.

Incorporated Under the Laws of the State of Delaware

 

CUSIP [●]

 

Warrant Certificate

 

This Warrant Certificate
certifies that                     ,
or registered assigns, is the registered holder of                     
warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase shares of
Class A common stock, $0.0001 par value per share (“Common Stock”), of Stratim Cloud Acquisition Corp., a Delaware
corporation (the “Company”). Each Warrant entitles the holder, upon exercise during the period set forth in
the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable shares of Common
Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant
Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the
United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of
the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used
in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole Warrant
is initially exercisable for one fully paid and non-assessable share of Common Stock. No fractional shares will be issued upon
exercise of any Warrant. If, upon the exercise of Warrant, a holder would be entitled to receive a fractional interest in a share,
the Company will, upon exercise, round down to the nearest whole number of the number of shares of Common Stock to be issued to
the holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence
of certain events as set forth in the Warrant Agreement.

 

The initial Exercise
Price per share of Common Stock for any Warrant is equal to $11.50 per whole share. The Exercise Price is subject to adjustment
upon the occurrence of certain events as set forth in the Warrant Agreement.

 

Subject to the conditions
set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised
by the end of such Exercise Period, such Warrants shall become null and void. The Warrants may be redeemed, subject to certain
conditions, as set forth in the Warrant Agreement.

 

    A-1

     

    

 

Reference is hereby
made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

 

This Warrant Certificate
shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate
shall be governed by and construed in accordance with the internal laws of the State of New York.

 

	 	STRATIM CLOUD ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title:
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title:

 

    A-2

     

    

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced
by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive             
shares of Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of [•], 2021 (the “Warrant
Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York
limited purpose trust company, as warrant agent (or successor warrant agent) (collectively, the “Warrant Agent”),
which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for
a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company
and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered
Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request
to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in
the Warrant Agreement.

 

Warrants may be exercised
at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed
and executed, together with payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless exercise”
as provided for in the Warrant Agreement) at the designated office(s) of the Warrant Agent. In the event that upon any exercise
of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby,
there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants
not exercised.

 

Notwithstanding anything
else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a
registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and
(ii) a prospectus thereunder relating to the shares of Common Stock is current, except through “cashless exercise”
as provided for in the Warrant Agreement.

 

The Warrant Agreement
provides that upon the occurrence of certain events the number of shares of Common Stock issuable upon exercise of the Warrants
set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof
would be entitled to receive a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to
the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.

 

Warrant Certificates,
when surrendered at the designated office(s) of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant
Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing
in the aggregate a like number of Warrants.

 

Upon due presentation
for registration of transfer of this Warrant Certificate at the office(s) of the Warrant Agent a new Warrant Certificate or Warrant
Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange
for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or
other third-party charges imposed in connection therewith.

 

The Company and the
Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution
to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice
to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of
the Company.

 

    A-3

     

    

 

Election to Purchase

 

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby
irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive             
shares of Common Stock and herewith tenders payment for such shares of Common Stock to the order of Stratim Cloud Acquisition Corp.
(the “Company”) in the amount of $                    
in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common Stock be registered
in the name of                     ,
whose address is                     
and that such shares of Common Stock be delivered to whose address is                     .
If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned
requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the
name of                     ,
whose address is                     ,
and that such Warrant Certificate be delivered to                     ,
whose address is                     .

 

In the event that the
Warrant has been called for redemption by the Company pursuant to Section 6.1 or Section 6.2 of the Warrant
Agreement and the Company has required cashless exercise pursuant to Section 6.4 of the Warrant Agreement, the number
of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(b)
and Section 6.4 of the Warrant Agreement.

 

In the event that the
Warrant is a Sponsor Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of
the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance
with subsection 3.3.1(c) of the Warrant Agreement.

 

In the event that the
Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the
number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4
of the Warrant Agreement.

 

In the event that the
Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of shares
of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant
Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned
hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions
of the Warrant Agreement, to receive shares of Common Stock. If said number of shares of Common Stock is less than all of the shares
of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant
Certificate representing the remaining balance of such shares of Common Stock be registered in the name of                     ,
whose address is                     ,
and that such Warrant Certificate be delivered to                     ,
whose address is                     .

 

	Date:                     ,	 	(Signature)
	 	 	 
	 	 	(Address)
	 	 	 
	 	 	(Tax Identification Number)
	 	 	 
	Signature Guaranteed:	 	 
	 	 	 

 

THE SIGNATURE(S) SHOULD BE GUARANTEED
BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO SEC RULE 17Ad-15 (OR ANY SUCCESSOR RULE) under
the SECURITIES exchange act, OF 1934, AS AMENDED).

 

    A-4

     

    

 

EXHIBIT B

 

LEGEND

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN
THE LETTER AGREEMENT BY AND AMONG STRATIM CLOUD ACQUISITION CORP. (THE “COMPANY”),
Stratim Cloud Acquisition, LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE
COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN THE RECITALS OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT
TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT
TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE
AND SHARES OF COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER
A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

 

B-1

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