Document:

Exhibit
10.1

 

STOCK
PURCHASE AGREEMENT

 

This
Stock Purchase Agreement (the “Agreement”) effective this, the 8th day of November, 2021 (the “Effective
Date”) is entered into, by, and between Global Tech Industries Group, Inc. (“GTII”), a corporation organized
under the laws of the State of Nevada, with its principal place of business at 511 Sixth Avenue, Suite 800 New York, NY 1001, and Trento
Resources and Energy Corp. (“Trento”), a corporation organized under the laws of the State of Delaware with its
principal place of business at 8 The Green STE A, Dover, DE 19901 and Sean Wintraub (“Wintraub”), an individual.
Trento and Wintraub shall hereafter be referred to collectively as the “Sellers” and individually as a “Seller”.
The entities and individuals entering into this to this Agreement maybe referred to individually as a “Party” or collectively
as the “Parties.”

 

WHEREAS,
the Sellers own all of the authorized, issued, and outstanding common stock of Trento Energy Resources, Inc.; and

 

WHEREAS,
Sellers are presently engaged in securing sufficient funding to establish and support large-scale mining operations at the Trento Mining
Project (the “Trento Project”), located in the third region of Atacama, Chile, Copiapo commune, between coordinates N 6,987,600
and E 384, 800 22 kilometers northeast of the city of Copiapo, Chile; and

 

WHEREAS,
Trento estimates that amount of geological resources at the Trento Project as appearing in the Geological Estimation Certificate
(the “Geological Estimation”) attached hereto as Exhibit A; and

 

WHEREAS,
the Seller desires to sell to GTII, and GTII desires to acquire from the Seller, in consideration for the issuance by GTII of that amount
of newly issued shares of GTII common stock (the “GTII” Stock) set forth in this Agreement, all of Trento’s authorized,
issued, and outstanding common stock (the “Trento Stock”)

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties to this
Agreement, and in light of the above recitals, the Parties to this Agreement hereby agree as follows:

 

		1.	Sale
                                            AND PURCHASE.

 

		a.	Sale
                                            and Purchase of Stock. In consideration for the Purchase Price (as defined in Section
                                            1.b, below, of this Agreement) and the other covenants of GTII in this Agreement, Sellers
                                            agree to sell to GTII, and GTII agrees to purchase from Sellers, on the Closing Date (as
                                            defined in Section 2 of this Agreement), all 350,000,000 common shares of the Trento Stock,
                                            representing 100% of the authorized capital stock and equity ownership interest in Trento.

 

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		b.	Purchase
                                            Price. As consideration for the sale by Sellers of the Trento Stock, GTII will issue
                                            and pay to Sellers, at the Closing, the aggregate amount of 100,000 shares of GTII’s
                                            common stock (the “Purchase Price”):

 

	 	a.
  Sean Wintraub	100,000
  Shares

 

		c.	Legends.
                                            The certificates evidencing the GTII Stock will bear legends in substantially the following
                                            form:

 

		i.	“The
                                            shares represented by this certificate have not been registered or qualified under the Securities
                                            Act of 1933, as amended, and may not be sold or transferred without registration under said
                                            Act or an exemption therefrom” 

 

		ii.	“Subject
                                            to Stock Purchase Agreement, Dated [Effective Date]”

 

	 	d.	Non-Distributive
  Covenant. Sellers agree that they will not, individually or collectively, offer for sale any of the GTII Stock issued pursuant
  to this Agreement until the expiration of 12 months or successful funding of the Trento Project as described in Section 6.b., below,
  from the issuance date thereof, except that

 

		iii.	Nothing
                                            herein shall be considered as a bar to the participation of the Seller as a seller in a public
                                            offering by GTII.

 

		2.	closing.

 

		a.	Time
                                            and Place of Closing. Closing shall take place virtually no later than November 10,
                                            2021, unless extended in writing by GTII and Seller.

 

		b.	Actions
                                            at Closing. At Closing, the following shall take place:

 

		i.	GTII
                                            will instruct its transfer agent to cause to be issued the GTII Shares as set forth in 1,
                                            b., above;

 

		ii.	Seller
                                            will tender to GTII a stock certificate or other documentation evidencing ownership of the
                                            Trento Stock by GTII;

 

		iii.	Seller
                                            will deliver to GTII copies of necessary resolutions of the Board of Directors of Trento
                                            authorizing the execution, delivery, and performance of this Agreement, which resolutions
                                            have been certified by an officer of Trento as being valid and in full force and effect.

 

		iv.	GTII
                                            will deliver to Trento copies of (1) corporate resolutions of the Board of Directors of GTII
                                            authorizing the execution, delivery and performance of this Agreement; (3) appointment of
                                            Sean Wintraub as the Chief Executive Officer, Aldo Delpero and Vice President and Managing
                                            Director, and Charles Chiarelli as Treasurer and Chief Financial Officer; and other agreements
                                            contemplated by this Agreement, which resolutions have been certified by an officer of GTII
                                            as being valid and in full force and effect.

 

		v.	Delivery
                                            of any additional documents or instruments as a Party may reasonably request or as may be
                                            necessary to evidence and effect this Agreement, including but not limited to copies of the
                                            front and back of each Seller driver’s license, current primary residence, and social
                                            security number.

 

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		3.	REPRESENTATIONS
                                            AND WARRANTIES OF TRENTO AND SELLERS. Sellers, on behalf of Trento and each of them,
                                            represent and warrant as follows:

 

		a.	Power
                                            and Authority. Sellers and Trento have full power and authority to enter into this Agreement
                                            and to perform its obligations hereunder. The execution, delivery, and performance of this
                                            Agreement by Trento has been duly authorized by all Seller, and any necessary action on its
                                            part has been take.

 

		b.	Good
                                            Standing. Trento (i) is duly organized, validly existing and in good standing under the
                                            laws of State of Delaware, having a unique Delaware File Number of 6373508; (ii) has all
                                            necessary power and authority to own its assets and to conduct its business as it is currently
                                            being conducted; and (iii) is duly qualified or licensed to do business and is in good standing
                                            in every jurisdiction (both domestic and foreign) where such qualification or licensing is
                                            required.

 

		c.	Approvals.
                                            To Sellers knowledge, no authorization, consent or approval of, or registration or filing
                                            with, any governmental authority or any other person is required to be obtained or made by
                                            Sellers in connection with the execution, delivery or performance of this Agreement.

 

		d.	Capitalization.
                                            The authorized capital stock of Sellers consists of 350,000,000 shares of common stock, having
                                            no par value, of which 100,000 shares are issued and outstanding. All of the outstanding
                                            shares of the capital stock of Trento are validly issued, fully paid and nonassessable, and,
                                            if issued, have been issued in full compliance with all applicable federal, state, local
                                            and foreign securities laws and other laws. Trento has no other classes of stock, whether
                                            common or preferred.

 

		e.	Representations
                                            True on Closing Date. The representations and warranties of Sellers set forth in this
                                            Agreement are true and correct as of the Effective Date of this Agreement, and will be true
                                            and correct on the Closing Date as though such representations and warranties were made as
                                            of the Closing Date. GTII’s knowledge will not act as a waiver of any breach of the
                                            representations and warranties contained herein by Sellers.

 

		f.	Non-Contravention.
                                            To Sellers knowledge, neither the execution nor delivery of this Agreement, nor the performance
                                            of this Agreement will contravene or result in a material violation of any of the provisions
                                            of any other agreement or obligation of Sellers.

 

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		4.	REPRESENTATIONS
                                            AND WARRANTIES GTII. GTII represents and warrants as follows:

 

		a.	Power
                                            and Authority. GTII has full power and authority to enter into this Agreement and to
                                            perform its obligations hereunder. The execution, delivery, and performance of this Agreement
                                            by GTII has been duly authorized by all GTII, and any necessary action on its part has been
                                            take.

 

		b.	Good
                                            Standing. GTII (i) is duly organized, validly existing and in good standing under the
                                            laws of State of Nevada; (ii) has all necessary power and authority to own its assets and
                                            to conduct its business as it is currently being conducted; and (iii) is duly qualified or
                                            licensed to do business and is in good standing in every jurisdiction (both domestic and
                                            foreign) where such qualification or licensing is required.

 

		c.	Approvals.
                                            To GTII’s knowledge, no authorization, consent or approval of, or registration or filing
                                            with, any governmental authority or any other person is required to be obtained or made by
                                            GTII in connection with the execution, delivery or performance of this Agreement.

 

		d.	Capitalization.
                                            The authorized capital stock of GTII consists of 550,000,000 shares of common stock, par
                                            value $0.001 per share, of which approximately 250,000,000 shares are issued, outstanding,
                                            and 50,000 shares of preferred stock, par value $0.001 per share, of which 1,000 shares of
                                            Series A Preferred Stock (super voting) are issued and outstanding. All of the outstanding
                                            shares of the capital stock of GTII are validly issued, fully paid and nonassessable, and
                                            have been issued in full compliance with all applicable federal, state, local and foreign
                                            securities laws and other laws.

 

		e.	Representations
                                            True on Closing Date. The representations and warranties of GTII set forth in this Agreement
                                            are true and correct as of the Effective Date of this Agreement, and will be true and correct
                                            on the Closing Date as though such representations and warranties were made as of the Closing
                                            Date. Trento or Sellers knowledge will not act as a waiver of any breach of the representations
                                            and warranties contained herein by GTII.

 

		f.	Non-Contravention.
                                            To GTII’s knowledge, neither the execution nor delivery of this Agreement, nor the
                                            performance of this Agreement will contravene or result in a material violation of any of
                                            the provisions of any other agreement or obligation of GTII.

 

		5.	CONDITION
                                            TO CLOSING.

 

		a.	Conditions
                                            Precedent to GTII’s Obligation to Close. GTII’s obligation to close the stock
                                            purchase as contemplated in this Agreement is conditioned upon the occurrence or waiver by
                                            GTII of the following:

 

		i.	GTII
                                            is satisfied in its sole and absolute discretion with its due diligence investigation of
                                            Sellers, its business and its management.

 

		ii.	Seller
                                            shall have delivered to GTII all certificates or documentation evidencing the Trento Stock.

 

		iii.	All
                                            representations and warranties of Sellers made in this Agreement or in any exhibit or schedule
                                            hereto delivered by Trento must be true and correct as of the Closing Date with the same
                                            force and effect as if made on and as of that date.

 

		iv.	Sellers
                                            must have performed and complied with all agreements, covenants and conditions required by
                                            this Agreement to be performed or complied with by Sellers prior to or at the Closing Date.

 

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		b.	Conditions
                                            Precedent to Seller’s Obligation to Close. Seller’ obligation to close the
                                            stock purchase as contemplated in this Agreement is conditioned upon the occurrence or waiver
                                            by Seller of the following:

 

		i.	Seller
                                            are satisfied in their sole and absolute discretion with their due diligence investigation
                                            of GTII, its business and its management.

 

		ii.	All
                                            representations and warranties of GTII made in this Agreement or in any exhibit hereto delivered
                                            by GTII must be true and correct on and as of the Closing Date with the same force and effect
                                            as if made on and as of that date.

 

		iii.	GTII
                                            must have performed and complied with all agreements and conditions required by this Agreement
                                            to be performed or complied with by GTII prior to or at the Closing Date.

 

		c.	Conditions
                                            Subsequent to Closing. The following conditions shall occur subsequent to Closing and
                                            within the timeframes provided herein.

 

		i.	Audit.
                                            The Parties acknowledged that the successful completion, within ninety (90) calendar
                                            days of the Effective Date, of an audit, and acceptable to GTII’s auditors, of Trento
                                            for calendar years 2019 and 2020, as well as 2021 year-to-date, or from date of formation
                                            of Trento to the Effective Date, of this Agreement (collectively the “Audited Financial
                                            Statements”), by an auditor that is subject to the public corporation accounting oversight
                                            board (“PCAOB”), is a material term of this Agreement. As such:

 

		(1)	GTII
                                            will hold any GTII Stock issued, if any, prior to completion of the Audited Financial Statements,
                                            pending successful completion of the Audited Financial Statements.

 

		(2)	The
                                            inability, refusal, or other failure by Seller or Trento to successful complete the Audited
                                            Financial Statements shall be grounds for rescission of this Agreement. In such case, the
                                            Seller consent to cancellation of the certificates to be issued pursuant to this Agreement,
                                            and GTII shall immediately and irrevocably return the Trento Shares to Seller.

 

		(3)	The
                                            Parties shall thereafter release each other from any claims one Party may have against another
                                            Party for failure to successfully complete the Audited Financial Statements.

 

		(4)	Extension
                                            of Audit Period. At the request of Trento, GTII shall not object to a reasonable extension
                                            of the audit period.

 

		ii.	GTII’s
                                            Approval of Trento’s Business Plan. Sellers and Trento shall deliver, to GTII,
                                            a business plan, with associated Audited Financial Statements, in a form acceptable to GTII.
                                            Approval of the business plan by the Board of Directors of GTII, in its sole discretion shall
                                            be a material term of this Agreement.

 

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		6.	ISSUANCE
                                            OF ADDITIONAL GTII STOCK.

 

		a.	If,
                                            within 6 months of the Effective Date of this Agreement, Sellers have secured sufficient
                                            funding to establish and support large-scale mining operations at the Trento Project, GTII
                                            shall issue, to Sellers, 100,000,000 shares of the GTII Stock (the “Additional GTII
                                            Stock”)

 

		i.	As
                                            used herein, sufficient funding shall mean evidence of the possession of unencumbered funds,
                                            in United States Dollars, deposited in a financial institution in the United States or the
                                            United Kingdom.

 

		b.	If,
                                            within 6 months after the issuance of the Additional GTII Stock, the Parties obtain confirmation
                                            of the presence of the geological resources in those amounts contained in the Geological
                                            Estimation, GTII shall issue, to Sellers, that amount of GTII Stock representing industry
                                            standard multipliers for said geological resources.

 

		i.	As
                                            used herein, confirmation of the presence of the geological resources means confirmation
                                            by an auditor subject to the PCAOB and acceptable to GTII’s auditors.

 

		7.	INTERNATIONAL
                                            LEVIES AND ASSESSMENTS. Sellers shall comply with all required regulatory authorities,
                                            whether based in the United States or internationally, with respect to the Trento Project.
                                            If any regulatory authority assesses liability for actions taken in the three years prior
                                            to the Execution Date of this Agreement, GTII shall assume the defense of any such assessment.
                                            However, Seller will retain liability for any amounts due to said regulatory authority.

 

		8.	INDEMNIFICATION.
                                            

 

		a.	Indemnification
                                            by Sellers. Trento, and Seller, and each of them agree to indemnify, defend and hold
                                            harmless GTII and its affiliates against any and all claims, demands, losses, costs, expenses,
                                            obligations, liabilities and damages, including interest, penalties and attorney’s
                                            fees and costs, incurred by GTII or any of its affiliates arising, resulting from, or relating
                                            to any breach of, or failure by Trento to perform any of its representations, warranties,
                                            covenants or agreements in this Agreement or in any exhibit or other document furnished or
                                            to be furnished by Seller or Trento under this Agreement.

 

		b.	Indemnification
                                            by GTII. GTII agrees to indemnify, defend and hold harmless Seller, Trento, and its affiliates
                                            against any and all claims, demands, losses, costs, expenses, obligations, liabilities and
                                            damages, including interest, penalties and attorneys’ fees and costs incurred by Trento
                                            or any of its affiliates arising, resulting from or relating to any breach of, or failure
                                            by GTII to perform, any of its representations, warranties, covenants or agreements in this
                                            Agreement.

 

		c.	Procedure
                                            for Indemnification Claims.

 

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		i.	Whenever
                                            any parties become aware that a claim (an “Underlying Claim”) has arisen entitling
                                            them to seek indemnification under Section 8 of this Agreement, such parties (the “Indemnified
                                            Parties”) shall promptly send a notice (“Notice”) to the parties liable
                                            for such indemnification (the “Indemnifying Parties”) of the right to indemnification
                                            (the “Indemnity Claim”); provided, however, that the failure to so notify the
                                            Indemnifying Parties will relieve the Indemnifying Parties from liability under this Agreement
                                            with respect to such Indemnity Claim only if, and only to the extent that, such failure to
                                            notify the Indemnifying Parties results in the forfeiture by the Indemnifying Parties of
                                            rights and defenses otherwise available to the Indemnifying Parties with respect to the Underlying
                                            Claim. Any Notice pursuant to this Section 8.3(a) shall set forth in reasonable detail, to
                                            the extent then available, the basis for such Indemnity Claim and an estimate of the amount
                                            of damages arising therefore.

 

		ii.	If
                                            an Indemnity Claim does not result from or arise in connection with any Underlying Claim
                                            or legal proceedings by a third party, the Indemnifying Parties will have thirty (30) calendar
                                            days following receipt of the Notice to issue a written response to the Indemnified Parties,
                                            indicating the Indemnifying Parties’ intention to either (i) contest the Indemnity
                                            Claim or (ii) accept the Indemnity Claim as valid. The Indemnifying Parties’ failure
                                            to provide such a written response within such thirty (30) day period shall be deemed to
                                            be an acceptance of the Indemnity Claim as valid. In the event that an Indemnity Claim is
                                            accepted as valid, the Indemnifying Parties shall, within fifteen (15) Business Days thereafter,
                                            pay the damages incurred by the Indemnified Parties in respect of the Underlying Claim in
                                            cash by wire transfer of immediately available funds to the account or accounts specified
                                            by the Indemnified Parties. To the extent appropriate, payments for indemnifiable damages
                                            made pursuant to this Agreement will be treated as adjustments to the Purchase Price.

 

		iii.	In
                                            the event an Indemnity Claim results from or arises in connection with any Underlying Claim
                                            or legal proceedings by a third party, the Indemnifying Parties shall have fifteen (15) calendar
                                            days following receipt of the Notice to send a Notice to the Indemnified Parties of their
                                            election to, at their sole cost and expense, assume the defense of any such Underlying Claim
                                            or legal proceeding; provided that such Notice of election shall contain a confirmation by
                                            the Indemnifying Parties of their obligation to hold harmless the Indemnified Parties with
                                            respect to damages arising from such Underlying Claim. The failure by the Indemnifying Parties
                                            to elect to assume the defense of any such Underlying Claim within such fifteen (15) day
                                            period shall entitle the Indemnified Parties to undertake control of the defense of the Underlying
                                            Claim on behalf of and for the account and risk of the Indemnifying Parties in such manner
                                            as the Indemnified Parties may deem appropriate, including, but not limited to, settling
                                            the Underlying Claim. The parties controlling the defense of the Underlying Claim shall not,
                                            however, settle or compromise such Underlying Claim without the prior written consent of
                                            the other parties, which consent shall not be unreasonably withheld or delayed. The non-controlling
                                            parties shall be entitled to participate in (but not control) the defense of any such action,
                                            with their own counsel and at their own expense.

 

		iv.	The
                                            Indemnifying Parties and the Indemnified Parties will cooperate reasonably, fully and in
                                            good faith with each other, at the sole expense of the Indemnifying Parties, in connection
                                            with the defense, compromise or settlement of any Underlying Claim including, without limitation,
                                            by making available to the other parties all pertinent information and witnesses within their
                                            reasonable control.

 

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		9.	EQUITABLE
                                            RELIEF.

 

		a.	Damages
                                            Inadequate. Each party acknowledges that it would be impossible to measure in money the
                                            damages to the other party if there is a failure to comply with any covenants and provisions
                                            of this Agreement, and agrees that in the event of any breach of any covenant or provision,
                                            the other party to this Agreement will not have an adequate remedy at law.

 

		b.	Equitable
                                            Relief. It is therefore agreed that the other party to this Agreement who is entitled
                                            to the benefit of the covenants and provisions of this Agreement which have been breached,
                                            in addition to any other rights or remedies which they may have, will be entitled to immediate
                                            injunctive or other equitable relief to enforce such covenants and provisions, and that in
                                            the event that any such action or proceeding is brought in equity to enforce them, the defaulting
                                            or breaching party will not urge a defense that there is an adequate remedy at law.

 

		10.	FURTHER
                                            ASSURANCES. Following the Closing, each party shall furnish to the other party such instruments
                                            and other documents as such parties may reasonably request for the purpose of carrying out
                                            or evidencing the transactions contemplated hereby.

 

		11.	FEES
                                            AND EXPENSES. Each Party hereto shall pay all fees, costs and expenses that it incurs
                                            in connection with the negotiation and preparation of this Agreement and in carrying out
                                            the transactions contemplated hereby (including, without limitation, all fees and expenses
                                            of its counsel(s) and accountant(s).

 

		12.	NOTICE.
                                            Any notice or communication required or permitted under this Agreement will be sufficiently
                                            given if delivered in person, by certified mail, return receipt requested or by email.

 

		a.	If
                                            to Sellers

 

Sean
Wintraub, Chief Executive Officer

Trento
Resources and Energy Corp

8
The Green STE A

Dover,
Delaware 19901

Email:
osean@waterislife.com

 

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		b.	If
                                            to GTII

 

David
Reichman, Chief Executive Officer

Global
Tech Industries Groups, Inc.

511
Sixth Avenue, Suite 800

New
York, New York 10011

Email:
david@gtii-us.com

 

		13.	ASSIGNMENT.
                                            This Agreement will not be assignable by either party without the prior written consent of
                                            the other party.

 

		14.	FORCE
                                            MAJEURE. If performance of this Agreement or any obligation under this Agreement is prevented,
                                            restricted, or interfered with by causes beyond either Party’s reasonable control (“Force
                                            Majeure”), and if the Party unable to carry out its obligations provides the other
                                            Party prompt written notice of such event, then the obligations of the party invoking this
                                            provision will be suspended to the extent necessary by such event. The term Force Majeure
                                            will include, without limitation:

 

		a.	Acts
                                            of God, fire, explosion, vandalism, storm or other similar occurrence, orders or acts of
                                            military or civil authority, or by national emergencies, insurrections, riots, or wars, or
                                            strikes, lock-outs, or work stoppages.

 

		15.	ENTIRE
                                            AGREEMENT. This Agreement, and any agreement incorporated by reference, contains the
                                            entire agreement of the Parties, and there are no other promises or conditions in any other
                                            agreement whether oral or written.

 

		16.	AMENDMENTS.
                                            This Agreement may not be amended or modified except by an instrument in writing signed
                                            by the Parties

 

		17.	SEVERABILITY.
                                            If a court finds that any provision of this Agreement is invalid or unenforceable for
                                            any reason, the remaining provisions will continue to be valid and enforceable. If a court
                                            finds that any provision of this Agreement is invalid or unenforceable, but that by limiting
                                            such provision it would become valid and enforceable, then such provision will be deemed
                                            to be written, construed, and enforced as so limited.

 

		18.	APPLICABLE
                                            LAW. The laws of the State of New York shall govern, construe and enforce all of the
                                            rights and duties of the parties arising from, or relating in any way to, the subject matter
                                            of this Agreement. The Parties agree that any action brought to enforce any portion of this
                                            agreement will be brought in a New York State court or a federal court which sits in the
                                            State of New York.

 

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		19.	WAIVER
                                            OF RIGHT. The failure of either party to enforce any provision of this Agreement will
                                            not be construed as a waiver or limitation of that party’s right to subsequently
                                            enforce and compel strict compliance with every provision of this Agreement.

 

		20.	HEADINGS.
                                            Headings are used for reference only and carry no legal significance.

 

		21.	REPRESENTATIONS.
                                            Each Party, where applicable, represents and warrants that: (a) it is duly organized, validly
                                            existing and in good standing under the laws of the state where organized; (b) has all requisite
                                            power and authority to own and operate its assets and carry on its business; (c) it is duly
                                            qualified to transact business and is in good standing in each jurisdiction in which the
                                            obligations under this Agreement are to be performed; (d) this Agreement is valid and binding
                                            obligation of each Party, enforceable in accordance with its terms.

 

		22.	AUTHORIZED
                                            SIGNATORIES. It is agreed and warranted by the Parties that the individuals singing this
                                            Agreement on behalf of the respective Parties are authorized to execute such an agreement.
                                            No further proof of authorization will be required.

 

[SIGNATURE
PAGE TO FOLLOW]

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

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IN
WITNESS WHEREOF, the Parties hereunder have caused this Agreement to be executed as of the Effective Date, above.

 

	 	Global Tech Industries Group, Inc.
	 	 	 
	 	By:	/s/ David
    Reichman
	 	 	David
    Reichman, 
	 	 	Chairman
    and Chief Executive Officer
	 	Dated:	November 9, 2021 

 

	 	By:	/s/ Frank
    Benintendo
	 	 	Frank
    Benintendo, 
	 	 	Vice-Chairman
    and Secretary
	 	Dated:
	November 9, 2021

 

For
Trento Resources and Energy Corp:

 

	/s/ Sean
    Wintraub	 
	Sean
    Wintraub, Chief Executive Officer	 
	Date:	November 9, 2021     	 

 

For
Sean Wintraub:

 

	/s/
    Sean Wintraub	 
	Sean
    Wintraub, Trento Shareholder Owning 	 
	100%
    of its Issued and Outstanding Common Stock	 
	Date:	November 9, 2021             	 

 

    	Page 11 of 11EX-4.1

 Exhibit 4.1 

WARRANT AGREEMENT 

between 
 INTEGRATED RAIL
AND RESOURCES ACQUISITION CORP. 
 and 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC. 

THIS WARRANT AGREEMENT (this “Agreement”), dated as of November 11, 2021, is by and between Integrated Rail and
Resources Acquisition Corp., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company, as warrant agent (the “Warrant
Agent”, also referred to herein as the “Transfer Agent”). 
 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 Class A common stock of the Company, par value $0.0001 per share
(“Common Stock”) and one-half of one redeemable Public Warrant (as defined below) (the “Units”) and, in connection therewith, has determined to issue and deliver
up to 10,000,000 warrants (or up to 11,500,000 warrants if the Over-allotment Option is exercised in full) to public investors in the Offering (the “Public Warrants”); and 

WHEREAS, on November 11, 2021, the Company entered into that certain Private Placement Warrants Purchase Agreement with DHIP Natural
Resources Investments, LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 8,500,000 warrants (or 9,400,000 in the event that the Over-allotment Option
(as defined below) in connection with the Company’s Offering is exercised in full) simultaneously with the closing of the Offering bearing the legend set forth in Exhibit B hereto (the “Private Placement
Warrants”) at a purchase price of $1.00 per Private Placement Warrant; and 
 WHEREAS, in order to finance the
Company’s transaction costs in connection with an intended initial Business Combination (as defined below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s executive officers and directors may, but are not obligated
to, loan to the Company funds as the Company may require, of which up to $1,500,000.00 of such loans may be convertible into up to an additional 1,500,000 warrants at a price of $1.00 per warrant (the “Working Capital
Warrants”); and 
 WHEREAS, following consummation of the Offering, the Company may issue additional warrants (“Post
IPO Warrants”; together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection with, or following the consummation by the Company of, a Business
Combination (defined below); and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the
“Commission”) registration statement on Form S-1, File No. 333-256381 (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; and 
 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; and 
 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 be issued in registered form only, and, if a physical certificate is issued, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or
bear the facsimile signature of, the Chairman of the Board, President, Chief Executive Officer, 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. 

2.2 Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to
this Agreement, a Warrant certificate 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, 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. All of the Public Warrants shall initially be represented by one or more book-entry certificates (each, a
“Book-Entry Warrant Certificate”) deposited with The Depository Trust Company (the “Depositary”) and registered in the name of Cede & Co., a nominee of the Depositary. 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 (i) the Depositary or its nominee for each Book-Entry Warrant Certificate, or (ii) institutions that
have accounts with the Depositary (each 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 Warrant Certificate, and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in
physical form evidencing such Warrants (“Definitive Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit A, with appropriate insertions, modifications and omissions,
as provided above. 
 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 a Definitive Warrant 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 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 Stifel, Nicolaus & Company, Incorporated, as representative of the several underwriters (the “Representative”), but in no event shall the 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 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 Form 8-K, and (B) the Company issues a press release and files with the Commission a current report on Form 8-K
announcing when such separate trading shall begin. 

 2.5 No Fractional Warrants Other Than as Part of Units. The Company shall not issue
fractional Warrants other than as part of the Units, each of which is comprised of one share of Common Stock and one-half of one Public Warrant. If, upon the detachment of Public Warrants from 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 Private Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants shall be
identical to the Public Warrants, except that so long as they are held by the Sponsor or any Permitted Transferees (as defined below), as applicable, the Private Placement Warrants and the Working Capital Warrants: (i) may be exercised for cash
or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination (as defined below), and
(iii) shall not be redeemable by the Company pursuant to Section 6 hereof; provided, however, that in the case of (ii) the Private Placement Warrants and the Working Capital Warrants and any shares
of Common Stock held by the Sponsor or any Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants and the Working Capital Warrants may be transferred by the holders thereof: 

(a) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any
affiliate of the Sponsor or to any member(s) of the Sponsor or any of their affiliates, officers, directors and direct and indirect equity holders; 

(b) in the case of an individual, by gift to a member such individual’s immediate family or to a trust, the beneficiary of which is a
member of such individual’s immediate family, an affiliate of such individual or to a charitable organization; 
 (c) in the case of an
individual, by virtue of the 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 an initial Business
Combination at prices no greater than the price at which the Private Placement Warrants were originally purchased; 
 (f) in the event of
the Company’s liquidation prior to consummation of the Company’s Business Combination; or 
 (g) by virtue of the laws of the
State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; 
 provided, however, that, in the
case of clauses (a) through (e) or (g), these transferees (the “Permitted Transferees”) enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

 2.7 Working Capital Warrants. The Working Capital Warrants shall be identical to the Private Placement Warrants. 

2.8 Post-IPO Warrants. The Post-IPO Warrants, when and
if issued, shall have the same terms and be in the same form as the Public Warrants except as may be agreed upon by the Company. 

 3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each whole 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 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 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; provided, that the Company shall provide at least five (5) 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. 

3.2 Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise
Period”) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination, involving the Company and one or more businesses (a “Business Combination”), or (ii) the date that is twelve (12) months from the date of the closing of the Offering, and
terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes its initial Business Combination, (y) 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 (z) other than with respect to the Private Placement Warrants and
the Working Capital Warrants to the extent then held by the Sponsor or any Permitted Transferees, the Redemption Date (as defined below) to the extent then held by the original purchasers thereof or their Permitted Transferees, in the event of a
redemption (as set forth in Section 6 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. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a Private Placement
Warrant or a Working Capital Warrant) to the extent then held by the original purchasers thereof or their Permitted Transferees in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant
(other than a Private Placement Warrant or a Working Capital Warrant to the extent then held by Sponsor or any Permitted Transferees in the event of a redemption) not exercised on or before the Expiration Date shall become 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 Book-Entry Warrant Certificate, 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”) 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 Certificate, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) payment in full of the Warrant Price for each full 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) by certified check payable to the order of the Warrant Agent or by wire transfer; 

 (b) in the event of a redemption pursuant to Section 6 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 quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value,” as defined in
this subsection 3.3.1(b) by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b) and Section 6.3, the “Fair Market Value” shall mean the average last 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; 

(c) with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working Capital
Warrant is held by the Sponsor or a Permitted Transferee, as applicable, 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 difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection 3.3.1(c), 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 shares of 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
Warrant is sent to the Warrant Agent; or 
 (d) as provided in Section 7.4 hereof. 

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. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation shall be made to the records maintained by the
Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. 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 registration statement under the Securities Act with respect to the shares of Common Stock underlying the Public
Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4. 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 has 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, except pursuant to Section 7.4. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the
holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit
solely for the shares of Common Stock underlying such Unit. 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 subsection 3.3.1(b) and 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. 

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, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and 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 4.9% (or such other amount as a 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 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. 
 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 the 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 Common Stock) and (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 Common Stock, in determining the price payable for 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. 

 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 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 Common Stock in connection with a
proposed initial Business Combination, (d) as a result of the repurchase of shares of Common Stock by the Company if a proposed Business Combination is presented to the stockholders of the Company for approval, (e) to satisfy the
redemption rights of the holders of Common Stock in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of
the public shares of Common Stock if the Company does not complete the Business Combination within the period set forth in the Company’s amended and restated certificate of incorporation or (f) in connection with the redemption of public
shares of Common Stock 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 Common Stock during
the 365-day period ending on the date of declaration of such dividend or distribution (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) does not exceed $0.50 (being
5% of the offering price of the Units in the Offering). 
 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, as provided in subsection
4.1.1 or Section 4.2 above, 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 (i) the Company issues additional shares of Common Stock or securities convertible into or exercisable or exchangeable for
shares of Common Stock 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 founder shares held by such holder or affiliates, as applicable, prior to such issuance) (the
“New Issuance Price”), (ii) 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 initial Business Combination on the
date of the consummation thereof (net of redemptions) and (iii) the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the
initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the New Issuance Price and
the Redemption Trigger Price (as defined below) shall be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price. 

 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 subsections 4.1.1 or 4.1.2 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 entity or conversion of the Company as another entity (other than a consolidation or merger 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 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 in connection with the closing of any such consolidation, merger, sale or conveyance, the successor or purchasing entity shall
execute an amendment hereto with the Warrant Agent providing for delivery of such Alternative Issuance; provided, further, that (i) if the holders of the 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 consolidation or merger, 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 Common Stock in such consolidation or merger 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 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 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 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)
(but in no event less than zero) 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) 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 Common Stock consists exclusively of
cash, the amount of such cash per share of Common Stock, and (ii) in all other cases, the amount of cash per share of Common Stock, if any, plus 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 will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant. 

 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 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 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 the Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. 

4.9 No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an
adjustment to the conversion ratio of the Company’s Class B common stock (the “Class B Common Stock”) into shares of Common Stock or the conversion of the shares of Class B
Common Stock into shares of Common Stock, in each case, pursuant to the Company’s Charter, as amended from time to time. 
 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, in the case of certificated Warrants, 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, 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 Certificate or Definitive Warrant Certificate, each Book-Entry Warrant Certificate and Definitive Warrant
Certificate 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 Private Placement Warrants and the Working Capital 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. 
 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. 
 6.
Redemption. 
 6.1 Redemption. Subject to Section 6.4 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 of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in
Section 6.2 below, at the price of $0.01 per Warrant (the “Redemption Price”), provided that the last sales price of the Common Stock reported has been at least $18.00 per share (the
“Redemption Trigger Price”; 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 provided that 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 6.2 below) or
the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1; provided, however, that if and when the Public Warrants become redeemable by the Company, the Company may not
exercise such redemption right if the issuance of shares of Common Stock upon exercise of the Public Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect such registration
or qualification. 
 6.2 Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the
Warrants, 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
(the “30-day 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. 

6.3 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) of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 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. 

 6.4 Exclusion of Private Placement Warrants and Working Capital Warrants. The Company
agrees that the redemption rights provided in this Section 6 shall not apply to the Private Placement Warrants or the Working Capital Warrants if at the time of the redemption such Private Placement Warrants or the Working
Capital Warrants continue to be held by the Sponsor or any Permitted Transferees, as applicable. However, once such. Private Placement Warrants or Working Capital Warrants are transferred (other than to Permitted Transferees under Section 2.6),
the Company may redeem the Private Placement Warrants and the Working Capital Warrants, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants or the Working Capital Warrants to
exercise the Private Placement Warrant and the Working Capital Warrants prior to redemption pursuant to Section 6.3. Private Placement Warrants and Working Capital Warrants that are transferred to persons other than Permitted Transferees shall
upon such transfer cease to be Private Placement Warrants or Working Capital Warrants and shall become Public Warrants under this Agreement. 

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 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. 

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

7.4.1 Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of its initial Business Combination, it shall use its best 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 best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration 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 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 rule) or another exemption) 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 difference between the Warrant Price and the “Fair Market Value” (as defined below) by (y) the Fair Market Value. 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 statute)) 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 any 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
the 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 not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of
the Common Stock issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require a holder of Public Warrants who exercises Public Warrants to
exercise such Public Warrants on a “cashless basis,” it agrees to use its best efforts to register or qualify for sale the Common Stock issuable upon exercise of the Public Warrant under the blue sky laws of the state of residence of the
exercising Public Warrant holder to the extent an exemption is not available. 
 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 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 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 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 Transfer Agent for the 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. 

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 Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the Board 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. 
 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 the Warrant Agent as trustee thereunder). 

 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 so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

Integrated Rail and Resources Acquisition Corp. 
 6100 Southwest
Boulevard, Suite 320 
 Fort Worth, TX 76109 
 Richard Bertel

 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 so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Warrant Agent with the Company), as follows: 
 American Stock Transfer & Trust Company, LLC 

48 Wall Street, 22nd Floor 
 New York, New York 10005 

Attention: Legal Department 
 9.3 Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the
application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement may 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. The Company hereby waives any objection to such jurisdiction and that such courts represent an inconvenient forum.
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. 
 9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to
confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders of the Warrants and, for purposes of Sections 7.4, 9.4 and 9.8, the Representative, 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,
for purposes of Sections 7.4, 9.4 and 9.8, the Representative, 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 the Warrant Agent.

 9.6 Counterparts. 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. 

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 (i) for the purpose of curing any ambiguity, or correcting any mistake, including to conform the provisions of this Agreement to the description of the terms of the Warrants and this Agreement in the
Registration Statement or curing, correcting or supplementing any defective provision contained herein or adding or changing any other 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 interest of the Registered Holders, and (ii) to provide for the delivery of Alternative Issuance pursuant to Section 4.4. All other modifications or amendments, including
any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the vote or written consent of the Registered Holders of a majority of the then outstanding Public Warrants. Any amendment solely to the Private Placement
Warrants or the Working Capital Warrants shall require the vote or written consent of a majority of the holders of the then outstanding Private Placement Warrants or the Working Capital Warrants, as applicable. 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. 

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. 

[Signature Page Follows] 

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

			
	INTEGRATED RAIL AND RESOURCES ACQUISITION CORP.
		
	By:	 	 /s/ Richard Bertel

	Name:	 	Richard Bertel
	Title:	 	Chief Executive Officer
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC as Warrant Agent
		
	By:	 	 /s/ Michael A. Nespoli

	Name:	 	Michael A. Nespoli
	Title:	 	Executive Director, Relationship Manager

 [Signature Page to Warrant Agreement] 

 EXHIBIT A 

[Form of Warrant Certificate] 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

INTEGRATED RAIL AND RESOURCES ACQUISITION CORP. 

Incorporated Under the Laws of the State of Delaware 

CUSIP 45827R 114 
 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 Integrated Rail and Resources 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 Warrants, a holder would
be entitled to receive a fractional interest in a share of Common Stock, the Company will, upon exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to the Warrant holder. The number of shares of Common
Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events 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 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 void. 

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, without regard to conflicts of laws principles thereof. 
  

			
	INTEGRATED RAIL AND RESOURCES ACQUISITION CORP.
		
	By:	 	              

	Name:
	Title:
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC as Warrant Agent
		
	By:	 	              

	Name:
	Title:

 [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 American Stock Transfer & Trust Company, LLC a New York limited liability trust company, as warrant agent (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 principal corporate trust office 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 principal corporate trust office 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 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 governmental charge 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. 

 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 Integrated Rail and Resources 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 of the Warrant Agreement and the Company has required cashless exercise pursuant to Section 6.3 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 6.3 of the Warrant Agreement. 

In the event that the Warrant is a Private Placement Warrant or a Working Capital 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 _______. 

[Signature Page Follows] 

			
	Date:     , 20	  	              

		  	 (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 S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)). 

 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 INTEGRATED RAIL AND RESOURCES ACQUISITION
CORP. (THE “COMPANY”), DHIP NATURAL RESOURCES INVESTMENTS, 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 SECTION 3 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 CLASS A 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.”

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