Document:

EXHIBIT 10.6

 

THE REGISTERED HOLDER OF THIS PURCHASE WARRANT
BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD
OF ONE HUNDRED EIGHTY DAYS FOLLOWING AUGUST 24, 2022 (THE “EFFECTIVE DATE”) TO ANYONE OTHER THAN (I) AEGIS
CAPITAL CORP. OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING FOR WHICH THIS PURCHASE WARRANT WAS ISSUED TO THE PLACEMENT AGENT AS
CONSIDERATION (THE “OFFERING”), OR (II) A BONA FIDE OFFICER OR PARTNER OF AEGIS CAPITAL CORP.

 

THIS PURCHASE WARRANT IS NOT EXERCISABLE PRIOR
TO FEBRUARY 24, 2023. VOID AFTER 5:00 P.M., EASTERN TIME, FEBRUARY 24, 2028.

 

COMMON STOCK PURCHASE WARRANT

 

For the Purchase of 603,864 Shares of Common
Stock

 

of

 

Volcon,
Inc.

 

 

1.          Purchase
Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of Aegis Capital Corp. (“Holder”),
as registered owner of this Purchase Warrant, to Volcon, Inc., a Delaware corporation (the “Company”),
Holder is entitled, at any time or from time to time beginning February 24, 2023 (the “Commencement Date”),
and at or before 5:00 p.m., Eastern time, February 24, 2028 (the “Expiration Date”), but not thereafter,
to subscribe for, purchase and receive, in whole or in part, up to 603,864 shares of common stock of the Company, par value $0.00001 per
share (the “Shares”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is
a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding
day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees not
to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $3.5625 per Share; provided, however,
that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Warrant, including the
exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise
Price” shall mean the initial exercise price or the adjusted exercise price, depending on the context.

 

2.            Exercise.

 

2.1           Exercise
Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and delivered
to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased payable in cash by
wire transfer of immediately available funds to an account designated by the Company or by certified check or official bank check. If
the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase
Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease and expire. Each exercise
hereof shall be irrevocable.

 

2.2           Cashless
Exercise. The Company shall use its best efforts to cause a Registration Statement to remain effective with a current prospectus
and to maintain the registration of the Shares and of the Warrants under the Exchange Act. If at any time on or after the Initial Exercise
Date, there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance
of the Purchase Warrant to the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless
exercise” in which the Holder shall be entitled to receive the number of Purchase Warrants in accordance with the following formula:

  

	X	=	Y(A-B)	 
	A	 
	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share; and
	 	B	=	The Exercise Price.
	 	 	 	 	 	 	 

 

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For purposes of this Section
2.2, the fair market value of a Share is defined as follows:

 

(i) if the Company’s common stock is traded on a national securities
exchange, the OTCQB or OTCQX, the value shall be deemed to be the closing price on such exchange, the OTCQB or OTCQX, as the case may
be, on the Business Day immediately preceding the date that the exercise form is delivered pursuant to Section 8.4 in connection with
the exercise of the Purchase Warrant; or

 

(ii) if the Company’s common stock is not then traded on a securities
exchange, the OTCQB or OTCQX and if prices for the Company’s common stock are then reported on the “Pink Sheets” published
by OTC Markets Group, Inc., the value shall be deemed to be the closing bid prior to the exercise form being submitted in connection with
the exercise of the Purchase Warrant so reported; provided, however, if there is no active public market, the value shall be the fair
market value thereof, as determined in good faith by the Company’s Board of Directors. 

 

2.3           Legend.
Each certificate for the securities purchased under this Purchase Warrant shall bear a legend as follows unless such securities have been
registered under the Securities Act of 1933, as amended (the “Act”):

 

The securities represented by this certificate
have not been registered under the Securities Act of 1933, as amended (the “Act”), or applicable state law. Neither the securities
nor any interest therein may be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement
under the Act, or pursuant to an exemption from registration under the Act and applicable state law which, in the opinion of counsel to
the Company, is available.

 

2.4           Resale
of Shares. Holder and the Company acknowledge that as of the date hereof the Staff of the Division of Corporation Finance of the SEC
has published Compliance & Disclosure Interpretation 528.04 in the Securities Act Rules section thereof, stating that the holder of
securities issued in connection with a public offering may not rely upon Rule 144 promulgated under the Act to establish an exemption
from registration requirements under Section 4(a)(1) under the Act, but may nonetheless apply Rule 144 constructively for the resale of
such shares in the following manner: (a) provided that six months has elapsed since the last sale under the registration statement, an
underwriter or finder may resell the securities in accordance with the provisions of Rule 144(c), (e), and (f), except for the notice
requirement; (b) a purchaser of the shares from an underwriter receives restricted securities unless the sale is made with an appropriate,
current prospectus, or unless the sale is made pursuant to the conditions contained in (a) above; (c) a purchaser of the shares from an
underwriter who receives restricted securities may include the underwriter’s holding period, provided that the underwriter or finder
is not an affiliate of the issuer; and (d) if an underwriter transfers the shares to its employees, the employees may tack the firm’s
holding period for purposes of Rule 144(d), but they must aggregate sales of the distributed shares with those of other employees, as
well as those of the underwriter or finder, for a six-month period from the date of the transfer to the employees. Holder and the Company
also acknowledge that the Staff of the Division of Corporation Finance of the SEC has advised in various no-action letters that the holding
period associated with securities issued without registration to a service provider commences upon the completion of the services, which
the Company agrees and acknowledges shall be the final closing of the Offering, and that Rule 144(d)(3)(ii) provides that securities acquired
from the issuer solely in exchange for other securities of the same issuer shall be deemed to have been acquired at the same time as the
securities surrendered for conversion (which the Company agrees is the date of the initial issuance of this Purchase Warrant). In the
event that following a reasonably-timed written request by Holder to transfer the Shares in accordance with Compliance & Disclosure
Interpretation 528.04 counsel for the Company in good faith concludes that Compliance & Disclosure Interpretation 528.04 no longer
may be relied upon as a result of changes in applicable laws, regulations, or interpretations of the SEC Division of Corporation Finance,
or as a result of judicial interpretations not known by the Company or its counsel on the date hereof (either, a “Registration
Trigger Event”), then the Company shall promptly, and in any event within five (5) business days following the request,
provide written notice to Holder of such determination. As a condition to giving such notice, the parties shall negotiate in good faith
a single demand registration right pursuant to an agreement in customary form reasonably acceptable to the parties; provided that notwithstanding
anything to the contrary, the obligations of the Company pursuant to this Section 2 shall terminate on the fifth anniversary of the commencement
of sales of the public offering. In the absence of such conclusion by counsel for the Company, the Company shall, upon such a request
of Holder given no earlier than six months after the final closing of the Offering, instruct its transfer agent to permit the transfer
of such shares in accordance with Compliance & Disclosure Interpretation 528.04, provided that Holder has provided such documentation
as shall be reasonably be requested by the Company to establish compliance with the conditions of Compliance & Disclosure Interpretation
528.04. Notwithstanding anything to the contrary, pursuant to FINRA Rule 5110(g)(8)(A), the Holder shall not be entitled to more than
one demand registration right hereunder and the duration of the registration rights hereunder shall not exceed five years from the commencement
of sales of the public offering.

 

 

 

 

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3.            Transfer.

  

3.1           General
Restrictions. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder will not:
(a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days following the Effective
Date to anyone other than: (i) Aegis Capital Corp (“Aegis”) or an underwriter, placement agent, or a selected
dealer participating in the Offering, or (ii) a bona fide officer or partner of Aegis or of any such underwriter, placement agent or selected
dealer, in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) for a period of one hundred eighty (180) days following
the Effective Date cause this Purchase Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative,
put or call transaction that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder,
except as provided for in FINRA Rule 5110(g)(2). After 180 days after the Effective Date, transfers to others may be made subject to compliance
with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company
the assignment form attached hereto duly executed and completed, together with the Purchase Warrant and payment of all transfer taxes,
if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant on the books of
the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly
evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated
by any such assignment.

  

3.2           Restrictions
Imposed by the Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) if required by
applicable law, the Company has received the opinion of counsel for the Company that the securities may be transferred pursuant to an
exemption from registration under the Act and applicable state securities laws, or (ii) a registration statement or a post-effective amendment
to the Registration Statement relating to the offer and sale of such securities has been filed by the Company and declared effective by
the U.S. Securities and Exchange Commission (the “Commission”) and compliance with applicable state securities
law has been established.

 

4.            Piggyback
Registration Rights.

 

4.1      
   Grant of Right. Whenever the Company proposes to register any shares of its common stock under the Act (other
than (i) a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 of the Act is applicable,
or (ii) a registration statement on Form S-4, S-8 or any successor form thereto or another form not available for registering the Shares
issuable upon exercise of this Purchase Warrant for sale to the public, whether for its own account or for the account of one or more
stockholders of the Company (a “Piggyback Registration”), the Company shall give prompt written notice
(in any event no later than ten (10) Business Days prior to the filing of such registration statement) to the Holder of the Company’s
intention to effect such a registration and, subject to the remaining provisions of this Section 4.1, shall include in such registration
such number of Shares underlying this Purchase Warrant (the “Registrable Securities”) that the Holders
have (within ten (10) Business Days of the respective Holder’s receipt of such notice) requested in writing (including such number)
to be included within such registration. If a Piggyback Registration is an underwritten offering and the managing underwriter advises
the Company that it has determined in good faith that marketing factors require a limit on the number of shares of common stock to be
included in such registration, including all Shares issuable upon exercise of this Purchase Warrant (if the Holder has elected to include
such shares in such Piggyback Registration) and all other shares of common stock proposed to be included in such underwritten offering,
the Company shall include in such registration (i) first, the number of shares of common stock that the Company proposes to sell and (ii)
second, the number of shares of common stock, if any, requested to be included therein by selling stockholders (including the Holder)
allocated pro rata among all such persons on the basis of the number of shares of common stock then owned by each such person. If any
Piggyback Registration is initiated as a primary underwritten offering on behalf of the Company, the Company shall select the investment
banking firm or firms to act as the managing underwriter or underwriters in connection with such offering. Notwithstanding anything to
the contrary, the obligations of the Company pursuant to this Section 4.1 shall terminate on the earlier of (i) the fifth anniversary
of the Effective Date and (ii) the date that Rule 144 would allow the Holder to sell its Registrable Securities during any ninety (90)
day period, and shall not be applicable so long as the Company’s Registration Statement on Form S-1 (No. 333-259468 covering the
Registrable Securities remains effective at such time. The duration of the piggyback registration right shall not exceed seven years from
the commencement of sales of the public offering.

 

 

 

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4.2           Indemnification.
The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder and
each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20 (a) of the Securities Exchange
Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or liability (including all
reasonable attorneys’ fees and other out-of-pocket expenses reasonably incurred in investigating, preparing or defending against
any claim whatsoever) to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration
statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify
Aegis contained in the Placement Agent Agreement between Aegis and the Company, dated as of August 22, 2022. The Holder(s) of the Registrable
Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify
the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the
Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns,
in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained
in the Placement Agent Agreement pursuant to which Aegis has agreed to indemnify the Company.

 

4.3           Exercise
of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s) to exercise their Purchase
Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

4.4           Documents
Delivered to Holders. The Company shall deliver promptly to each Holder participating in the offering requesting the correspondence
and memoranda described below, copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda
relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder and underwriter
to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the registration statement
as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access
to books, records and properties and opportunities to discuss the business of the Company with its officers and independent auditors,
all to such reasonable extent and at such reasonable times, during normal business hours, as any such Holder shall reasonably request.

 

4.5           Underwriting
Agreement. The Holders shall be parties to any underwriting agreement relating to a Piggyback Registration. Such Holders shall not
be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate
to such Holders, their Shares and the amount and nature of their ownership thereof and their intended methods of distribution.

 

4.6           Documents
to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company a
completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

  

4.7           Damages.
Should the Company fail to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available
to the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened breach
of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of
posting bond or other security.

 

5.            New
Purchase Warrants to be Issued.

 

5.1           Partial
Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned in whole
or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax if exercised
pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor
to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder
as to which this Purchase Warrant has not been exercised or assigned.

 

 

 

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5.2           Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase
Warrant and of reasonably satisfactory indemnification or the posting of a bond, determined in the sole discretion of the Company, the
Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered
as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

6.            Adjustments.

 

6.1           Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall be subject
to adjustment from time to time as hereinafter set forth:

 

6.1.1           Share
Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective day
thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares, and the Exercise
Price shall be proportionately decreased.

 

6.1.2           Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding Shares is decreased
by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date thereof, the number
of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding Shares, and the Exercise Price shall
be proportionately increased.

 

6.1.3           Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share reconstruction
or amalgamation or consolidation or merger of the Company with or into another corporation (other than a consolidation or share reconstruction
or amalgamation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization
of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as
an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Warrant shall
have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof,
for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or
consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares of the Company obtainable
upon exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also results in a change in Shares
covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions
of this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations,
or consolidations, sales or other transfers.

  

6.1.4           Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
6.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated in the
Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase Warrants reflecting
a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the
computation thereof.

 

6.2          Substitute
Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation or merger of the Company
with or into, another corporation (other than a consolidation or share reconstruction or amalgamation or merger which does not result
in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction or
amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase Warrant
then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant) to receive,
upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable upon such
consolidation or share reconstruction or amalgamation, by a holder of the number of Shares of the Company for which such Purchase Warrant
might have been exercised immediately prior to such consolidation, share reconstruction or amalgamation or merger, sale or transfer. Such
supplemental Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this Section 6.
The above provision of this Section shall similarly apply to successive consolidations or share reconstructions or amalgamations or mergers.

 

 

 

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6.3           Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the exercise
of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent
of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest
whole number of Shares or other securities, properties or rights.

 

7.             Reservation.
The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose of issuance upon exercise
of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon the exercise thereof.
The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise Price therefor, in accordance
with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable
and not subject to preemptive rights of any shareholder.

 

8.            Certain
Notice Requirements.

 

8.1           Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to receive
notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder of the
Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events described in
Section 8.2 shall occur, then, in one or more of said events, the Company shall deliver to each Holder a copy of each notice relating
to such events given to the other shareholders of the Company at the same time and in the same manner that such notice is given to the
shareholders.

 

8.2           Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings, as indicated by the
accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall offer to all the holders
of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable for shares of capital
stock of the Company, or any option, right or warrant to subscribe therefor.

 

8.3           Notice
of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section
6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe
the event causing the change and the method of calculating same.

 

 

8.4           Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall be
deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered Holder
of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to following address
or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

Aegis Capital Corp.,

810 Seventh Avenue, 18th Floor,

New York, NY 10019,

Attention: Global Equity Markets

 

 

 

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with a copy (which shall not constitute notice) to:

 

Anthony W. Basch, Esq.

Kaufman & Canoles, P.C.

1021 E. Cary Street, Suite 1400

Two James Center

Richmond, VA 23219

Tel.: (804) 771-5700

 

If to the Company:

 

Volcon, Inc.

2590 Oakmont Drive, Suite 520

Round Rock, TX 78665

Attention; Jordan Davis, Chief Executive Officer

 

with a copy (which shall not constitute notice) to:

 

Amy R. Curtis

Mark R. Goldschmidt

Holland & Knight LLP

One Arts Plaza

1722 Routh Street, Suite 1500

Dallas, Texas 75201

 

9.            Miscellaneous.

 

9.1           Amendments.
The Company and Aegis may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders in order
to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other provisions
herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and Aegis may deem necessary
or desirable and that the Company and Aegis deem shall not adversely affect the interest of the Holders. All other modifications or amendments
shall require the written consent of and be signed by (i) the Company and (ii) the Holder(s) of Purchase Warrants then-exercisable for
at least a majority of the Shares then-exercisable pursuant to all then-outstanding Purchase Warrants.

 

9.2           Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3.           Entire
Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection with
this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4           Binding
Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their
permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any
legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein contained.

 

 

 

 

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9.5           Governing
Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any
action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought and enforced in
the courts located in the City of New York, County of New York, and State of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8 hereof. Such mailing
shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the
Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable
attorneys’ fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor.
The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder
hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby.

 

9.6           Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed
or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or any provision hereof
or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver of any breach,
non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set forth in a written instrument
executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance
or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

9.7           Exchange
Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any time prior
to the complete exercise of this Purchase Warrant by Holder, if the Company and Aegis enter into an agreement (“Exchange Agreement”)
pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash or a combination of both,
then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

 

 

[Signature Page Follows]

 

 

 

 

 

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Purchase Warrant to be signed by its duly authorized officer as of the date first written above.

 

Volcon, Inc.

 

 

 

 

By: /s/ Jordan Davis                                  

Name: Jordan Davis

Title: Chief Executive Officer

 

  

 

 

 

 

 

 

 

 

 

    	 	9	 

     

    

 

[Form to be used to exercise
Purchase Warrant]

 

Date: __________, 20___

 

The undersigned hereby elects
irrevocably to exercise the Purchase Warrant for ______ shares of common stock, par value $0.00001 per share (the “Shares”),
of Volcon, Inc., a Delaware corporation (the “Company”), and hereby makes payment of $____ (at the rate
of $____ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant is exercised
in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Shares for which
this Purchase Warrant has not been exercised.

 

or

 

The undersigned hereby elects
irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares, as determined in
accordance with the following formula:

 

	 	X	=	Y(A-B)	 
	A	 
	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share which is equal to $_____; and
	 	B	=	The Exercise Price which is equal to $______ per share
	 	 	 	 	 	 	 

The undersigned agrees and
acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect to the calculation
shall be resolved by the Company in its sole discretion.

 

Please issue the Shares as
to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant
representing the number of Shares for which this Purchase Warrant has not been converted.

 

Signature                                                                          

 

 

Signature Guaranteed                                                      

 

 

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

  Name:                                                                           

 (Print in Block Letters)

 

Address:                                                                    
     

                            
                                 
                              

 

 

NOTICE: The signature to this
form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or any change whatsoever,
and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national
securities exchange.

 

 

 

 

 

    	 	10	 

     

    

 

[Form to be used to assign
Purchase Warrant]

 

ASSIGNMENT

 

 

(To be executed by the registered Holder to effect
a transfer of the within Purchase Warrant):

 

 

 

FOR VALUE RECEIVED, __________________ does hereby
sell, assign and transfer unto the right to purchase shares of Common Stock, par value $0.00001 per share, of Volcon, Inc., a Delaware
corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize the Company to
transfer such right on the books of the Company.

 

 

 

Dated: __________, 20__

 

 

 

Signature                                                                            

 

 

 

 

Signature Guaranteed                                                   

 

 

 

 

NOTICE: The signature to this form must correspond with the name as
written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed
by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.

 

 

 

    	 	11EX-10.6

 Exhibit 10.6 

Execution Version 

SECOND AMENDED AND RESTATED 

SHAREHOLDERS AGREEMENT 

This Second Amended and Restated Shareholders Agreement (this “Agreement”) is made and entered into as of August 1, 2022, by
and among Alpha Capital Holdco Company, an exempted company incorporated with limited liability in the Cayman Islands (the “Company”), DDT Investments Ltd., a BVI business company incorporated in the British Virgin Islands, Cumorah
Group Ltd., a BVI business company incorporated in the British Virgin Islands, ETZ Chaim Investments Ltd., a BVI business company incorporated in the British Virgin Islands (together with DDT Investments Ltd. and Cumorah Group Ltd., the
“Founders”), Crescera Growth Capital Master Semantix Fundo de Investimento em Participações Multiestratégia, an investment fund organized under the laws of the Federative Republic of Brazil
(“Crescera”), Fundo de Investimento em Partipações Inovabra I – Investimento no Exterior, an investment fund organized under the laws of the Federative Republic of Brazil (“Inovabra” and, together
with Crescera, the “Growth Investors”), and Alpha Capital Sponsor LLC, a Cayman Islands limited liability company (the “Sponsor” and, together with Company, the Founders and the Growth Investors, the
“Parties”, and each a “Party”). 
 WHEREAS, pursuant to the Business Combination Agreement, dated as of
the date hereof (the “BCA”), by and among the Company, Semantix Tecnologia em Sistema de Informação S.A. (“Semantix”), Alpha Capital Acquisition Company (the “SPAC”), Alpha Merger Sub
I Company (“First Merger Sub”), Alpha Merger Sub II Company (“Second Merger Sub”) and Alpha Merger Sub III Company (“Third Merger Sub”), Semantix and the SPAC have agreed to consummate a series of transactions which
will result in (i) First Merger Sub merging with and into SPAC, with SPAC surviving as a direct wholly owned subsidiary of the Company, (ii) SPAC merging with and into Second Merger Sub, with Second Merger Sub surviving as a direct wholly
owned subsidiary of the Company and (iii) Third Merger Sub merging with and into an exempted company incorporated with limited liability in the Cayman Islands (“Newco”) to be formed by Semantix Tecnologia em Sistema de
Informação S.A., a sociedade anônima organized under the laws of Brazil, with Newco surviving as a direct wholly owned subsidiary of the Company (collectively, the “Business Combination”); 

WHEREAS, immediately following the closing of the Business Combination, the Founders, Crescera, Inovabra and the Sponsor will, collectively,
hold a majority of the issued and outstanding Shares (as defined below); 
 WHEREAS, pursuant to the BCA, the Parties entered into that
certain Amended and Restated Shareholders Agreement dated April 13, 2022, by and among the Company, the Founders, the Growth Investors and the Sponsor (the “Prior Agreement”), to provide for, among other things, certain
governance matters and other rights and obligations associated with the ownership of Shares; 
 WHEREAS, Section 1.1 and
Section 2.1 of the Prior Agreement may be amended at any time by the execution of an instrument in writing signed on behalf of each of the Company, the Founders, the Growth Investors and the Sponsor; and 

 WHEREAS, the Company, the Founders, the Growth Investors and the Sponsor wish to amend and
restate the Prior Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree that the Prior Agreement is hereby amended and restated in its entirety by this Agreement, and the parties further agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. Capitalized terms used in this Agreement have the meanings set forth below. 

“Action” means any claim, action, suit, proceeding, audit, examination, assessment, arbitration, litigation, mediation or
investigation, by or before any Governmental Authority. 
 “Affiliate” means, with respect to any specified Person, any
other Person that, directly or indirectly, controls, is controlled by, or is under common control with, such specified Person, whether through one or more intermediaries or otherwise. The term “control” (including, with correlative
meaning, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by Contract or otherwise. For the avoidance of doubt, no Party to this Agreement shall be deemed to be an Affiliate of the Company or any of the Company’s
Subsidiaries solely as a result of its ownership of Shares. 
 “Agreement” shall have the meaning specified in the preamble
hereto. 
 “BCA” shall have the meaning set forth in the recitals hereto. 

“Board” means the board of directors of the Company. 

“Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York City, New York or
São Paulo, Brazil are authorized or required by Law to close. 
 “Closing Date” shall have the meaning ascribed to
“Closing Date” in the BCA. 
 “Commission” means the United States Securities and Exchange Commission. 

“Company” shall have the meaning set forth in the preamble hereto. 

“Company Public Documents” has the meaning specified in Section 4.1(a). 

“Contracts” means any legally binding contracts, agreements, subcontracts, leases, and purchase orders. 

  
 2 

 “Controlled Company Eligible” means qualifying as a controlled company
under the listing rules of Nasdaq. 
 “Crescera” shall have the meaning specified in the preamble hereto. 

“Crescera Director” means any Director who was appointed or nominated to the Board by Crescera pursuant to, and in accordance
with, Section 2.1. 
 “Crescera Group” means (i) Crescera or (ii) any Affiliates controlled or
managed by Crescera or by the same investment managers of Crescera, including, for the avoidance of doubt, any fund or account managed by the same managers as Crescera. 

“Director” has the meaning specified in Section 2.1(a) 

“Effective Date” has the meaning specified in Section 5.1. 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and any successor thereto, as the same
shall be in effect from time to time. 
 “Founders” shall have the meaning specified in the preamble hereto. 

“Founders Directors” means each of the Directors who were appointed or nominated to the Board by the Founders pursuant to,
and in accordance with, Section 2.1. 
 “Founders Group” means the Founders and their respective Affiliates.

 “Founders Independent Directors” means the Founders Directors who satisfy the Independent Requirements. 

“Group” means, with respect to Crescera, the Crescera Group; with respect to the Founders, the Founders Group; with respect
to Inovabra, the Inovabra Group; and, with respect to the Sponsor, the Sponsor Group. 
 “Growth Investors” shall have the
meaning specified in the preamble hereto. 
 “Growth Investors Directors” means the Crescera Director and the Inovabra
Director, collectively. 
 “Governmental Authority” means any federal, state, provincial, municipal, local or foreign
government, governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court or tribunal. 

“Governmental Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case,
entered by or with any Governmental Authority. 
 “Independent Requirements” means the independent requirements applicable
to audit committee members of “foreign private issuers” (as defined in Rule 3b-4 of the Exchange Act) as set forth in Rule 10A-3 under the Exchange Act. 

  
 3 

 “Inovabra” shall have the meaning specified in the preamble hereto. 

“Inovabra Director” means any Directors who was appointed or nominated to the Board by Inovabra pursuant to, and in
accordance with, Section 2.1. 
 “Inovabra Group” means (i) Inovabra or (ii) any Affiliates
controlled or managed by Inovabra or by the same investment managers of Inovabra, including, for the avoidance of doubt, any fund or account managed by the same managers as Inovabra.. 

“Law” means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority.

 “Necessary Action” means, with respect to a specified result set forth in this Agreement, any action that is necessary
or advisable, to the fullest extent permitted by applicable Law, to cause such specified result, including: (a) voting or providing a written consent or proxy with respect to the Shares; (b) causing the adoption of amendments to the
Organizational Documents; (c) executing agreements and instruments relating to such specified result; and (d) making, or causing to be made, with any Governmental Authority, all filings, registrations or similar actions, in each case of
the foregoing, that are in connection with causing such specified result; provided, that, solely in the case of the Sponsor Group, in no event shall “Necessary Action” require any member of the Sponsor Group to commit to voting or
providing a written consent or proxy with respect to any Shares held by any member of the Sponsor Group or otherwise committing to the taking of any action that would be reasonably likely to, in the Sponsor’s good faith determination, require
the Sponsor to be a member of any “group” for purposes of Section 13(d) of the Exchange Act (other than any “group” comprised solely of members of the Sponsor Group). 

“Nasdaq” means the Nasdaq Stock Market LLC. 

“Organizational Documents” means, with respect to the Company and any of its Subsidiaries, collectively, such Person’s
articles of association, memorandum of association, bylaws or other similar governing instruments required by the Laws of its jurisdiction of formation or organization. 

“Party” shall have the meaning set forth in the preamble hereto. 

“Permanent Disability” means, with respect to an individual, if he or she is legally incompetent or unable to manage his or
her financial affairs for a ninety (90) day period. The determination of mental competency by such individual’s attending physician may be conclusively relied upon by the parties hereto. An individual shall be deemed Permanently Disabled
as of the earlier of a) the determination of legal incapacity by a court of competent jurisdiction or (b) the expiration of such ninety (90) day period. 

“Person” means any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated
association, joint venture, joint stock company, Governmental Authority or instrumentality or other entity of any kind. 

  
 4 

 “Representative” means, with respect to any Person, such Person’s
Affiliates and its and their respective professional advisors, directors, officers, members, managers, shareholders, partners, employees, agents and authorized representatives. 

“Shares” means ordinary shares of the Company, par value of $0.001 each. 

“Sponsor” has the meaning specified in the preamble hereto. 

“Sponsor Director” means any Director who was appointed or nominated to the Board by the Sponsor pursuant to, and in
accordance with, Section 2.1. 
 “Sponsor Group” means the Sponsor and any Affiliates of the Sponsor. 

“Subsidiary” means, with respect to a Person, a corporation or other entity of which more than 50% of the voting power of the
equity securities or equity interests is owned, directly or indirectly, by such Person. 
 “Transaction Agreements” means
this Agreement and the Transaction Agreements (as defined in the BCA). 
 “Transfer” means, with respect to any securities,
to sell, assign, transfer, pledge or otherwise dispose of such securities. 
 “Transferee” shall have the meaning specified
in Section 7.4. 
 ARTICLE II 

BOARD MATTERS; APPROVAL RIGHTS 

Section 2.1 Initial Board Composition. 

(a) As of the Effective Date, the initial number of directors of the Board (each, a “Director”) shall be seven (7). 

(b) In accordance with the Company’s Organizational Documents, as of the Effective Date, the Directors shall be divided into three
(3) classes of Directors designated as Class I, Class II and Class III. Each class of Directors shall consist, as nearly equal as possible, of one third (1/3) of the total number of Directors constituting the entire Board.

 (c) The Parties shall take all Necessary Action to cause the initial composition of the Board, as of the Effective Date, to be divided
into Class I, Class II and Class III, as follows: 
 (i) the Class I Directors shall be comprised of two
(2) Founders Independent Directors; 
 (ii) the Class II Directors shall be comprised of the Crescera Director and
the Inovabra Director; and 
 (iii) the Class III Directors shall be comprised of the Sponsor Director and the two
(2) remaining Founders Directors; provided, that if the Sponsor Director does not comply with the Independent Requirements, one (1) out of the two (2) Founders Directors who are Class III Directors shall comply with the
Independent Requirements. 

  
 5 

 (d) The initial term of the Class I Directors shall expire at the first (1st) annual
meeting of shareholders of the Company following the Effective Date at which Directors are elected. The initial term of the Class II Directors shall expire at the second (2nd) annual meeting of shareholders of the Company following the
Effective Date at which Directors are elected. The initial term of the Class III Directors shall expire at the third (3rd) annual meeting of shareholders of the Company following the Effective Date at which Directors are elected. Thereafter, at
each succeeding annual general meeting of the Company, successors to the class of Directors whose term expires at that meeting shall be elected for a three (3)-year term of office pursuant to the appointment rights set forth in Sections 2.1(b) and
2.1(c) above, except that (i) the Sponsor’s appointment right to appoint the Sponsor Director pursuant to Section 2.1(c)(iii) shall terminate following the expiration of the initial term of the Sponsor Director, and (ii) the
Founders shall have the right to appoint one (1) additional Founders Director to replace the Sponsor Director; provided, that if the Sponsor Director to be replaced meets the Independent Requirements, then the Founders Director to replace such
Sponsor Director shall be a Founders Independent Director. 
 Section 2.2 Founders, Growth Investors and Sponsor Representation.

 (a) For so long as (i) the Founders Group holds a number of Shares representing at least seven and
one-half percent (7.5%) of the Shares then issued and outstanding, (ii) the Crescera Group holds a number of Shares representing at least seven and one-half percent
(7.5%) of the Shares then issued and outstanding, or (iii) the Inovabra Group holds a number of Shares representing at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, at
the request of each such Party whose Group holds at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, each such other Party (excluding, for the avoidance of doubt, the Sponsor)
shall take all Necessary Action to (i) include in the slate of nominees proposed by the Board for election as Directors at each applicable annual or special meeting of shareholders at which Directors are to be elected such number of individuals
nominated by each such Party whose Group holds at least seven and one-half percent (7.5%) of the Shares then issued and outstanding so that, if elected, there will be a number of Founders Directors, the
Crescera Director or the Inovabra Director, as applicable, in accordance with Section 2.1; (ii) to include such individuals in the Company’s proxy or similar materials and form of proxy (or equivalent thereof) disseminated to
shareholders in connection with the election of Directors at each applicable annual or special meeting of shareholders held for the election of Directors; and (iii) cause the election of each such individuals to the Board, including nominating
such individuals to be elected as directors and by soliciting proxies in favor of the election of such individuals. 
 (b) If at any time
any of the Founders Group, the Crescera Group or the Inovabra Group, respectively, holds a number of Shares then issued and outstanding representing less than the minimum percentages set forth in Section 2.2(a) above so that the rights provided
therein no longer apply, but which are at least five percent (5%) of the Shares then issued and outstanding, then any Director previously nominated by each such Party whose Group holds less than seven and
one-half percent (7.5%) but at least five percent (5%) of the Shares then issued and outstanding, and then serving on the Board, shall be entitled to serve for the remainder of his or her term as a
Class I, Class II or Class III Director, as applicable, and shall not be required to resign from the Board prior to the expiration of such term. 

  
 6 

 (c) During the term of the Sponsor Director, Sponsor shall have the right to designate two
(2) observers at any and all meetings of the Board (but, for the avoidance of doubt, such observers will not be entitled to attend any meetings of any committees thereof except to the extent invited by such committee), in Sponsor’s sole
discretion. Such observers shall be entitled to receive all notices and materials provided to Directors, and have the same access and information rights as a Director; provided, that such observers shall not be entitled to receive any notices,
materials, information or access to the extent providing such notices, materials, information or access, as applicable, would result in the waiver of any applicable privilege. Such observers will not have voting rights or fiduciary obligations to
the Company, its Subsidiaries or their equity holders, but shall be bound by the same confidentiality obligations as the Directors. 
 (d)
If at any time any of the Founders Group, the Crescera Group or the Inovabra Group, respectively, holds a number of Shares then issued and outstanding representing less than five percent (5%) of the Shares then issued and outstanding, the Agreement
will terminate and be of no further force and effect with respect to such Party pursuant to Section 6.1(b) and any Director previously nominated by each such Party whose Group holds less than five percent (5%) of the Shares then issued and
outstanding and then serving on the Board shall be required to resign from the Board if so requested by any of the other Parties hereto whose Group holds at least five percent (5%) of the Shares then issued and outstanding. 

(e) Any Sponsor Director serving on the Board and any Board observers designated by the Sponsor shall be required to resign following the
termination of this Agreement with respect to the Sponsor pursuant to Section 6.1(b) below. 
 Section 2.3 No Liability to
Founders, Growth Investors or Sponsor. None of the Founders, the Growth Investors, the Sponsor or any of their respective Affiliates shall have any liability as a result of appointing a person as a director, nor for any act or omission by such
appointed person in his or her capacity as a director of the Company, nor as a result of voting for any such appointee in accordance with the provisions of this Agreement. 

Section 2.4 Chairperson. For so long as the Founders Group holds a number of Shares representing at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, the Founders Directors shall have the right to designate the Chairperson of the Board. The Chairperson may, but is not required to, be a Founders
Director. 
 Section 2.5 Committee Representation. The Parties agree that (i) the Sponsor Director will serve on the audit
committee of the Board if such Sponsor Director complies with the Independent Requirements or on the Nominating and Corporate Governance Committee (or any other committee with similar functions if a Nominating and Corporate Governance Committee is
not formed by the Company following the Effective Date) and (ii) for so long as the Founders Group holds at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, the Founders
Directors shall have the right to appoint one (1) Founders Director to serve on each committee of the Board, provided that, in each case of items (i) and (ii), such appointment complies with the applicable rules of Nasdaq and the
Commission that apply to “foreign private issuers” (as defined in Rule 3b-4 of the Exchange Act). 

  
 7 

 Section 2.6 Vacancies and Removal.

(a) For so long as (i) the Founders Group holds a number of Shares representing at least seven and
one-half percent (7.5%) of the Shares then issued and outstanding, (ii) the Crescera Group holds a number of Shares representing at least seven and one-half percent
(7.5%) of the Shares then issued and outstanding, or (iii) the Inovabra Group holds a number of Shares representing at least seven and one-half percent (7.5%) of the Shares then issued and outstanding,
then each such Party whose Group holds at least seven and one-half percent (7.5%) of the Shares then issued and outstanding shall have the exclusive right to (1) request the removal from the Board of the
Founders Directors, Crescera Director or Inovabra Director, as the case may be, whom it had originally nominated to the Board, and (2) appoint or nominate for appointment or election to the Board a Director to fill the vacancy resulting from
such removal or any other vacancies created by reason of death or resignation of any then-serving Founders Director, Crescera Director or Inovabra Director, as the case may be, whom it had originally nominated to the Board. The Parties shall take
all Necessary Action to cause (1) any such removal of any such Founders Director, Crescera Director or Inovabra Director, as the case may be, from the Board, and (2) any such vacancies on the Board to be filled by replacement Directors
nominated by each such nominating Party whose Group holds at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, in each case, as promptly as reasonably practicable. 

(b) The Sponsor shall have the exclusive right to (1) request the removal from the Board of the Sponsor Director whom it had originally
nominated to the Board and (2) appoint or nominate for election to the Board a Director to fill the vacancy of such removal or any other vacancies created by reason of death or resignation of any then-serving Sponsor Director whom it had
originally nominated to the Board. The Parties shall take all Necessary Action to cause (1) the removal of any such Sponsor Director from the Board, and (2) any such vacancy to be filled by a replacement Sponsor Director nominated by the
Sponsor, in each case, as promptly as reasonably practicable. 
 Section 2.7 Board Meeting Expenses. The Company shall pay
all reasonable and documented out-of-pocket costs and expenses (including travel and lodging) incurred by each Director nominated pursuant to this Agreement in the
course of, and in connection with, his or her service as a Director, including in connection with attending regular and special meetings of the Board, any board of directors or board of managers of any of the Company’s Subsidiaries or any of
their respective committees. 
 Section 2.8 Director Indemnification. As promptly as reasonably practicable following the
Effective Date, and from time to time, the Company shall enter into an indemnification agreement in form and substance reasonably satisfactory to the Parties hereto with each Founders Director, each Growth Investors Director and the Sponsor
Director, indemnifying and holding harmless each such Director and his/her alternate, to the fullest extent permissible by law, from and against all liabilities, damages, actions, suits, proceedings, claims, costs, charges and expenses suffered or
incurred by or brought or made against such Directors or his/her alternate as a result of any act, matter or thing done or omitted to be done by him/her in good faith in the course of acting as a Director or alternate Director, as applicable, of the
Company or any Subsidiary of the Company. Such indemnification agreements shall reflect that (a) the Company is the indemnitor of first resort (i.e., the Company’s obligations to the Directors are primary, and any obligation of the
Directors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by any Director are secondary), (b) the Company shall be required 

  
 8 

 
to advance the full amount of expenses incurred by each Director and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent
legally permitted and as required by the terms of this Agreement, any other agreement between the Company and the Directors or the Organizational Documents of the Company and (c) the Company hereby irrevocably waives, relinquishes and releases
each of the Directors from any and all claims against any of the Directors for contribution, subrogation or any other recovery of any kind in respect thereof. 

Section 2.9 D&O Insurance. The Company shall (a) purchase directors’ and officers’ liability insurance from
time to time in an amount determined by the Board to be reasonable and customary and (b) for so long as a Director nominated pursuant to this Agreement serves as a Director of the Company, maintain such coverage with respect to such Director
and shall use commercially reasonable efforts to extend such coverage for a period of not less than six (6) years from any removal or resignation of such Director, in respect of any act or omission occurring at or prior to such event. 

Section 2.10 Controlled Company Exception. At all times at which the Company is Controlled Company Eligible and for so long as
requested by the Founders, the Company shall take all Necessary Action to avail itself of all “controlled company” exemptions to the rules of Nasdaq or any other exchange on which the Shares are then listed and shall comply with all
requirements under Law and all disclosure requirements to take such actions. 
 Section 2.11 Foreign Private Issuer Exception.
At all times at which the Company is eligible to qualify as a “foreign private issuer” (as defined in Rule 3b-4 of the Exchange Act) and for so long as requested by the Founders, the Company shall
take all Necessary Action to avail itself of all “foreign private issuer” exemptions to the rules of Nasdaq or any other exchange on which the Shares are then listed and shall comply with all requirements under Law and all disclosure
requirements to take such actions 
 Section 2.12 Sharing of Information. Each of the Company, the Founders, the Growth
Investors and the Sponsor agree and acknowledge that the Founders Directors, the Growth Investors Directors and the Sponsor Director may share, on a need-to-know basis,
confidential, non-public information about the Company and its Subsidiaries with the Founders, Crescera, Inovabra, the Sponsor, and their Representatives, respectively. 

ARTICLE III 

CERTAIN COVENANTS 

Section 3.1 Corporate Opportunities. 

(a) From and after the Effective Date and for so long as any of the Founders Directors, the Sponsor Director, the Crescera Director or the
Inovabra Director continue to serve on the Board, (i) the Board will renounce to the fullest extent permitted by Law any interest or expectancy of the Company in, or in being communicated about, presented with or offered an opportunity to
participate in, any corporate opportunities of the Company or its Subsidiaries that are presented to any such Director or any directors, officers or employees of the Founders Group, the Sponsor Group, the Crescera Group or the Inovabra Group, as the
case may be; and (ii) in the 

  
 9 

 
event that any such Director or any director, officer or employee of the Founders Group, the Sponsor Group, the Crescera Group or the Inovabra Group acquires knowledge of a corporate opportunity
for itself, herself or himself and the Company or any of its Affiliates, such Director shall, to the fullest extent permitted by Law, have no duty (fiduciary, contractual or otherwise) to communicate, present or offer such transaction or other
business opportunity or matter to the Company or any of its Affiliates or shareholders and, to the fullest extent permitted by Law, shall not be liable to the Company or its shareholders or to any Affiliate of the Company for breach of any duty
(fiduciary, contractual or otherwise) as a shareholder, director or officer of the Company solely by reason of the fact that such Director pursues or acquires such corporate opportunity for itself, herself or himself, or offers or directs such
corporate opportunity to another Person (including, without limitation, any member of the Founders Group) or does not present such opportunity to the Company or any of its Affiliates or shareholders. 

(b) For the purposes of this Section 3.1, “corporate opportunities” shall include, but not be limited to,
business opportunities which the Company and its Subsidiaries are financially able to undertake, which are, from their nature, in the line of data analytics and artificial intelligence, are of practical advantage to it and are ones in which the
Company and its Subsidiaries would have an interest or a reasonable expectancy, and in which, by embracing the opportunities or allowing such opportunities to be embraced by the relevant Party or its respective directors, officers or employees, the
self-interest of the such relevant Party or any of its directors, officers or employees will or could be brought into conflict with that of the Company and its Subsidiaries. 

Section 3.2 No Share Transfer Restrictions. Except as otherwise contemplated by the Transaction Agreements and the Company’s
Organizational Documents, the Company will not, without the prior written consent of the Founders and the Growth Investors, take, or cause to be taken, directly or indirectly, any action, including making or failing to make any election under the
Law of any state, which has the effect, directly or indirectly, of restricting or limiting the ability of the Founders or the Growth Investors to freely Transfer their Shares in accordance with applicable Laws or would restrict or limit the rights
of any transferee of the Founders or the Growth Investors (as applicable) as a holder of Shares. Without limiting the generality of the foregoing, other than to ensure compliance with applicable Laws, the Company will not, without the prior written
consent of the Founders and the Growth Investors, take any action, or take any action to recommend to its shareholders any action, which would among other things, limit the legal rights of, or deny any benefit to, the Founders or the Growth
Investors as Company shareholders either (a) solely as a result of the amount of Shares owned by the Founders or the Growth Investors or (b) in a manner not applicable to the Company shareholders generally. 

ARTICLE IV 

DISCLOSURE; ACCESS TO INFORMATION 

Section 4.1 Disclosure and Financial Information(a) . Except as otherwise contemplated by the Transaction Agreements
and the Company’s Organizational Documents, for so long as the Founders Group hold a number of Shares representing at least seven and one-half percent (7.5%) of the Shares then issued and outstanding, no
(a) reports, notices and proxy (or equivalent thereof) and information statements to be sent or made available by the Company or its Subsidiaries to its or their respective security holders and (b) registration statements and prospectuses
to be filed by the Company or its Subsidiaries with the Commission or any securities 

  
 10 

 
exchange pursuant to the listed company manual (or similar requirements) of such exchange (collectively, the documents identified in clauses (a) and (b) are referred to in this Agreement as
“Company Public Documents”) or any other document which refers to, or contains information not previously publicly disclosed with respect to the direct ownership of the Company by the Founders will be filed with the Commission or
otherwise made public by the Company or its Subsidiaries without the prior written consent of the Founders other than to ensure compliance with applicable Laws. 

Section 4.2 Access to Information. 

(a) For so long as (i) the Founders Group holds a number of Shares representing at least five percent (5%) of the Shares then issued and
outstanding, (ii) the Crescera Group holds a number of Shares representing at least five percent (5%) of the Shares then issued and outstanding, or (iii) the Inovabra Group holds a number of Shares representing at least five percent (5%)
of the Shares then issued and outstanding and, in each case, no Director appointed by such Group who does not meet the Independent Requirements is then serving on the Board: 

(i) the Company shall permit, unless prohibited by applicable Law, the Party whose Group holds at least five percent (5%) of
the Shares then issued and outstanding, at reasonable times and upon reasonable notice to (i) visit and inspect any of the properties of the Company and its Subsidiaries, (ii) examine the corporate and financial records of the Company and
its Subsidiaries and make copies thereof or extracts therefrom, and (iii) discuss the affairs, finances and accounts of any such Persons with the Directors, officers, key employees and independent accountants of the Company and its
Subsidiaries. 
 (ii) the Company shall, and shall cause its Subsidiaries to, provide the Party whose Group holds at least
five percent (5%) of the Shares then issued and outstanding, in addition to other information that might be reasonably requested by written inquiry by such Party, from time to time (i) to the extent otherwise prepared by the Company, operating
and capital expenditure budgets and periodic information packages relating to the operations and cash flows of the Company and its Subsidiaries, (ii) access to the executive officers of the Company from time to time at reasonable times and upon
reasonable notice to discuss the Company’s annual business plan and operating budget, and (iii) updates with respect to, and access to other information regarding, progress on the Company’s projects and related technology development
roadmap. 
 (b) For so long as (i) the Founders Group holds a number of Shares representing at least five percent (5%) of the Shares
then issued and outstanding, (ii) the Crescera Group holds a number of Shares representing at least five percent (5%) of the Shares then issued and outstanding, or (iii) the Inovabra Group holds a number of Shares representing at least
five percent (5%) of the Shares then issued and outstanding: 
 (i) the Company, upon the reasonable request of each such
Party whose Group holds at least five percent (5%) of the Shares then issued and outstanding, shall make available to such requesting Party all information, records and documents in its possession that may be relevant to any tax return, audit,
examination, proceeding or determination with respect to taxes of the Company or any of its Subsidiaries or any member of of such Party’s Group, as the case may be; and 

  
 11 

 (ii) each such Party, upon the reasonable request of the Company, shall make
available to the Company all information, records and documents in the possession of such Party’s Group that may be relevant to any tax return, audit, examination, proceeding or determination with respect to taxes of the Company or any of its
Subsidiaries. 
 Section 4.3 Confidentiality.

(a) The Founders, Crescera, Inovabra and the Sponsor shall not, and shall cause each member of the Founders Group, the Crescera Group, the
Inovabra Group and the Sponsor Group not to, disclose any confidential non-public information provided to the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor Group, or to any Founders
Director, the Crescera Director, the Inovabra Director and the Sponsor Director, respectively, in each case, pursuant to the terms of this Agreement, to any Person outside of the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor
Group, respectively.
 (b) Notwithstanding the foregoing, any member of the Founders Group, the Crescera Group, the Inovabra Group and the
Sponsor Group shall be permitted to disclose such information to its directors, officers or employees, and any other member of the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor Group and any Founders Director, the Crescera
Director, the Inovabra Director and Sponsor Director shall be permitted to disclose any such information to their respective attorneys, accountants, consultants, advisors and other representatives if such Persons have a need to know such information
in order to perform their duties and/or properly advise any member of the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor Group, and are bound by an obligation to maintain confidentiality with respect to such information.

(c) Any member of the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor Group shall be permitted to disclose any
confidential non-public information to any Person outside of the Founders Group, the Crescera Group, the Inovabra Group and the Sponsor Group, respectively, (a) to the extent required (i) to comply
with applicable Laws or stock exchange regulations, including in connection with the filing of financial or other reports required to be filed with any Governmental Authority or stock exchange, or (ii) by any subpoena, investigative demand,
audit or similar process of any Governmental Authority, (b) in connection with any financing or capital raising transaction by any such member, subject to the execution of one or more customary confidentiality agreements with potential lenders
or initial purchasers, or (c) subject to the execution of one or more customary confidentiality agreements, in connection with any transaction involving the direct or indirect sale or other disposition of Shares by any member of the Founders
Group, the Crescera Group, the Inovabra Group and the Sponsor Group, as applicable. 

  
 12 

 ARTICLE V 

EFFECTIVENESS 

Section 5.1 Condition to Effectiveness. This Agreement is being executed on the date hereof and shall automatically become
effective upon, but only upon, the consummation of the transactions contemplated by the Business Combination Agreement and the Business Combination (such date, the “Effective Date”). If the Business Combination Agreement is terminated
pursuant to its terms, this Agreement shall be void and of no further force or effect. For the avoidance of doubt, the Parties hereby acknowledge that any shareholders agreement relating to Semantix in effect prior to the Effective Date shall be
terminated and be with no force or effect as from the Effective Date. 
 ARTICLE VI 

TERMINATION 

Section 6.1 Term. The terms of this Agreement shall terminate, and be of no further force and effect: 

(a) upon the written mutual agreement of all of the parties hereto and on the date specified in such agreement; 

(b) with respect to (i) the Founders, if the Founders Group holds a number of Shares representing less than five percent (5%) of all
Shares then issued and outstanding; (ii) Crescera, if the Crescera Group holds a number of Shares representing less than five percent (5%) of all Shares then issued and outstanding; (iii) Inovabra, if the Inovabra Group holds a number of
Shares representing less than five percent (5%) of all Shares then issued and outstanding; and (iv) the Sponsor Group, the earlier of (x) three (3) years as from the Effective Date or (y) the date on which the Sponsor Group no longer
holds any Shares; provided, in each of the foregoing cases, that: 
 (i) such Party shall remain bound by the surviving
provisions set forth in Section 6.2; and 
 (ii) if following such termination with respect to one or more Parties,
there still remain two or more Parties bound by the provisions of this Agreement (in addition to the surviving provisions set forth in Section 6.2), this Agreement shall continue in full force and effect as between such remaining Parties. 

(c) if the Founders Group, the Crescera Group and the Inovabra Group collectively hold a number of Shares representing less than forty percent
(40%) of the Shares then issued and outstanding; or 
 (d) upon the death or Permanent Disability of Leonardo Santos. 

Section 6.2 Survival. If this Agreement is terminated pursuant to Section 6.1, this Agreement shall
become void and of no further force and effect, except for: (i) the provisions set forth in this Section 6.2, Section 2.1(b), Section 2.2(b),
Section 2.6, Section 2.7, Section 2.12, Section 3.1, Section 4.3 (which shall survive for one (1) year after the
termination of this Agreement) and Article VI, and (ii) the rights with respect to the breach of any provision hereof by the Company. 

  
 13 

 Section 6.3 Consequences of TerminationSection 6.4 . Upon the termination
of this Agreement, no Party shall have any claim against any other Party under this Agreement, except for any claim arising from any breaches by such other Party of: 

(a) this Agreement on or prior to such termination; or 

(b) the surviving provisions set forth in Section 6.2 after such termination. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Amendment and Waiver. This Agreement may be amended by the Company, the Founders and the Growth Investors at any
time by execution of an instrument in writing signed on behalf of each of the Company, the Founders and the Growth Investors. In addition, any proposed amendment to Sections 2.1, Section 2.2(c), Section 2.3 (solely as it
relates to the Sponsor Group), Section 2.5 (solely as it relates to the Sponsor Group), Section 2.6(b), Section 2.8, 2.12 or 4.3 (solely as it relates to the Sponsor Group), Section 6.1, this
Article VII or any definitions to the extent used therein (including the definition of “Sponsor”, “Sponsor Director”, “Sponsor Group”, the final sentence of the definition of
“Affiliate” and the proviso to the definition of “Necessary Action”) shall also require the written consent of the Sponsor (unless, for the avoidance of doubt, if this Agreement is terminated with respect to the Sponsor pursuant
to Section 6.1(b) above). 
 Section 7.2 Severability. The Parties acknowledge that the rights and obligations
provided for in this Agreement are subject to the applicable provisions of applicable Laws and stock exchange regulations. In the event that any term, provision, covenant or restriction of this Agreement, or the application thereof, is held to be
illegal, invalid or unenforceable under any present or future applicable Law: (a) such provision will be fully severable; (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never
comprised a part hereof; (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by its severance here from; and (d) in lieu of such
illegal, invalid or unenforceable provision, the Parties agree to cooperate to effect an amendment pursuant to Section 7.1 in order to cure the illegality, invalidity or unenforceability of such provision to effect the
terms of such illegal, invalid or unenforceable provision as may be possible. 
 Section 7.3 Entire Agreement. Except as
otherwise expressly set forth herein, this Agreement amends and restates the Prior Agreement in its entirety and constitutes the full and entire agreement and understanding among the Parties with respect to the subject matter hereof and thereof and
supersedes and preempts any prior understandings, agreements or representations by or among the Parties, written or oral, which may have related to the subject matter hereof in any way. 

  
 14 

 Section 7.4 Successors and Assigns. This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns and transferees. Neither this Agreement nor any rights, interests or obligations that may accrue to the Parties hereunder may be transferred
or assigned by any Party without the prior written consent of the other Parties hereto and any attempted assignment without such consent shall be null and void and of no effect; provided that each Founder, each Growth Investor and the Sponsor may
assign any and all of their respective rights under this Agreement, together with Transferring their respective Shares, to any member of its respective Group (each, a “Transferee”). A Founder, a Growth Investor or the Sponsor (as
applicable) shall give written notice to the Company of its transfer of rights under this Section 7.4 no later than five (5) Business Days after such Person enters into a binding agreement for such transfer of rights.
Such notice shall state the name and address of the Transferee and identify the amount of Shares transferred and the scope of rights being transferred under this Section 7.4. In connection with any such transfer, the term
“Founders”, “Growth Investors” or “Sponsor” as used in this Agreement shall, where appropriate to give effect to the assignment of rights and obligations hereunder to such Transferee, be deemed to refer to such
Transferee. A Founder, a Growth Investor or the Sponsor (as applicable) and any Transferee may exercise the rights under this Agreement in such priority, as among themselves, as they shall agree upon among themselves, and the Company shall observe
any such agreement of which it shall have notice as provided above. A Founder, a Growth Investor or the Sponsor (as applicable) shall cause Transferee to execute and deliver to the Company a joinder agreement in form and substance of Exhibit A
attached hereto and agree to be bound by the terms and conditions of this Agreement. 
 Section 7.5 Applicability of Rights in the
Event of an Acquisition of the Company. In the event the Company merges into, consolidates, sells substantially all of its assets to or otherwise becomes an Affiliate of a Person (other than the Founders or the Growth Investors (as applicable)),
pursuant to a transaction or series of related transactions in which any member of the Founders Group, the Crescera Group, the Inovabra Group or the Sponsor Group (as applicable) receives equity securities of such Person (or of any Affiliate of such
Person) in exchange for Shares held by any member of the Founders Group, the Crescera Group, the Inovabra Group or the Sponsor Group (as applicable), all of the rights of the Founders, the Growth Investors and the Sponsor set forth in this Agreement
shall continue in full force and effect and shall apply to the Person the equity securities of which are received by the Founders, the Growth Investors and the Sponsor pursuant to such transaction or series of related transactions. The Company
agrees that, without the consent of the Founders, it will not enter into any Contract which will have the effect set forth in the first clause of the preceding sentence, unless such Person agrees to be bound by the foregoing provision. 

Section 7.6 Counterparts. This Agreement may be executed in separate counterparts each of which shall be an original and all
of which taken together shall constitute one and the same agreement. 
 Section 7.7 Remedies. The parties hereto agree and
acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that a party hereto shall have the right to injunctive relief or specific performance, in addition to all of its rights and remedies
at law or in equity, to enforce the provisions of this Agreement. Nothing contained in this Agreement shall be construed to confer upon any Person who is not a signatory hereto any rights or benefits, as a third party beneficiary or otherwise.

  
 15 

 Section 7.8 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed given: (a) on the date delivered if delivered personally; (b) one (1) Business Day after being sent by an internationally recognized overnight courier guaranteeing overnight delivery; (c) on the
date of transmission, if delivered by email, with confirmation of transmission; or (d) on the fifth (5th) Business Day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications,
to be valid, must be addressed as follows: 
  

	 	(a)	 if to the Company, to: 

Semantix Tecnologia em Sistema de Informação S.A. 

Av. Eusébio Matoso, 1.375, 10o andar 

São Paulo, São Paulo, Brazil, ZIP05423-180 

Attention: Depto. Jurídico 

Email: juridico@semantix.com.br 

with copies to (which shall not constitute notice): 

Skadden, Arps, Slate, Meagher & Flom LLP 

One Manhattan West 
 New York,
New York 10001 
 Attention: Filipe Areno 

Email: filipe.areno@skadden.com 
  

	 	(b)	 if to the Founders, to: 

Rua Treze de Maio, n° 1203, Apartamento 802 

São Paulo, São Paulo, Brazil, ZIP 01327-001 

Attention: Leonardo Augusto Oliveira Dias 

Email: loliveira@semantix.com.br 
  

	 	(c)	 if to Crescera, to: 

Crescera Growth Capital Ltda. 

Rua Anibal de Medonça, no 27, 2o andar 

Rio de Janeiro, Rio de Janeiro, Brazil, ZIP 22410-050 

Attention:         Jaime Cardoso Danvila; Priscila Pereira Rodrigues 

Email:               jaime.cardoso@crescera.com 

                 
priscila.rodrigues@crescera.com 
  

	 	(d)	 if to Inovabra, to: 

2B Capital S.A. 
 Avenida
Presidente Juscelino Kubitschek, 1309, 10o andar 
 São Paulo, São Paulo, Brazil, ZIP:
04543-011 
 Attention:         Rafael Padilha; Leandro
Kakumu Kayano 
 Email:
              rafael.padilha@bradescobbi.com.br; 

                 lkayano@2bcapital.com.br

  
 16 

	 	(e)	 if to Sponsor, to: 

Alpha Capital Acquisition Company 

1230 Avenue of the Americas, 16th Floor 

New York, NY 10020 
 Attention:
        Alec Oxenford 
 Email:
             alec@alpha-capital.io 
 with a copy to (which shall not
constitute notice): 
 Davis Polk & Wardwell, LLP 

450 Lexington Avenue 
 New York,
NY 10017 
 Attention:         Daniel Brass 

                 Derek Dostal 

Email:              daniel.brass@davispolk.com 

                derek.dostal@davispolk.com

 or to such other address or to the attention of such Person or Persons as the recipient Party has specified by prior written notice to the sending Party
(or in the case of counsel, to such other readily ascertainable business address as such counsel may hereafter maintain). If more than one method for sending notice as set forth in this Section 7.8 is used, the earliest
notice date established as set forth in this Section 7.8 shall control. 
 Section 7.9 Governing
Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to principles
or rules of conflict of Laws to the extent such principles or rules would require or permit the application of Laws of another jurisdiction. 

Section 7.10 Jurisdiction; WAIVER OF JURY TRIAL. 

(a) Any proceeding or Action based upon, arising out of or related to this Agreement must be brought in the Delaware Court of Chancery or, in
the event (but only in the event) that the Delaware Court of Chancery does not have subject matter jurisdiction over such legal action or proceeding, the United States District Court for the District of Delaware or, in the event (but only
in the event) that such United States District Court for the District of Delaware also does not have subject matter jurisdiction over such legal action or proceeding, any Delaware state court sitting in New Castle County, in connection with any
matter based upon or arising out of this Agreement or the actions of the parties hereof, and each of the parties irrevocably (i) submits to the exclusive jurisdiction of each such court in any such proceeding or Action, (ii) waives any
objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, (iii) agrees that all claims in respect of the proceeding or Action shall be heard and determined only in any such court, and (iv) agrees
not to bring any proceeding or Action arising out of or relating to this Agreement in any other court. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by Law or to commence legal
proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action, suit or proceeding brought pursuant to this Section 7.10. 

  
 17 

 (b) EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER
THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY, UNCONDITIONALLY AND VOLUNTARILY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SERVICES CONTEMPLATED HEREBY. 
 Section 7.11
Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 

Section 7.12 Interpretation and Rules of Construction. In this Agreement, except to the extent otherwise
provided or that the context otherwise requires: 
 (a) when a reference is made in this Agreement to an Article or Section, such
reference is to an Article or Section of this Agreement; 
 (b) the headings preceding the text of Articles and Sections included
herein are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement; 
 (c) whenever the
words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without limitation”; 

(d) the word “or” is not exclusive and is deemed to have the meaning “and/or”; 

(e) the words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, refer
to this Agreement as a whole and not to any particular provision of this Agreement; 
 (f) all terms defined in this Agreement have the
defined meanings when used in any certificate or other document delivered or made available pursuant hereto, unless otherwise defined therein; 

(g) where used with respect to information, the phrases “delivered” or “made available” shall mean that the information
referred to has been physically or electronically delivered to the relevant Party or a Representative designated by such Party in writing as acceptable to receive such information on behalf of such Party; 

(h) references to “day” or “days” are to calendar days; 

(i) the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; 

(j) references to a Person are also to its successors and permitted assigns; and 

  
 18 

 (k) when calculating the period of time before which, within which or following which any
act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is not a Business Day, the period in question shall, if
applicable, end on the next succeeding Business Day. 
 Section 7.13 Actions in Other Capacities. Nothing in this Agreement
shall limit, restrict or otherwise affect any actions taken by a Founder in its capacity as a shareholder of the Company or indirect shareholder of any of its Subsidiaries or Affiliates. 

Section 7.14 No Joint and Several Liability. Notwithstanding any other provision of this Agreement, (i) all representations,
warranties, covenants and obligations of each Founder or Growth Investor (as applicable) are several and not joint, and in no event shall a Founder or Growth Investor (as applicable) have any responsibility or liability with respect to the acts or
omissions of the other Founders or Growth Investor (as applicable), (ii) all rights of each Founder or Growth Investor (as applicable) are several and not joint, and in no event shall a Founder or Growth Investor (as applicable) have any interest
with respect to a right or property of the other Founders or Growth Investor (as applicable), and (iii) any liability pursuant to this Agreement that has to be allocated between the Founder or Growth Investor (as applicable) shall be allocated
to each Founder or Growth Investor (as applicable) pro rata based on the percentage of the equity ownership of each Founder or Growth Investor (as applicable) in the Company. 

Section 7.15 Founders Group Representative. Each of DDT Investments Ltd., Cumorah Group Ltd. and ETZ Chaim Investments Ltd. hereby
irrevocably and unconditionally authorizes and appoints Leonardo Santos as representative of the Founders Group for all purposes of this Agreement. Any action taken or any exercise of powers under this Agreement by Leonardo Santos shall be binding
on each other Founder for purposes thereof, shall be deemed to be taken or exercised by each other Founder, and the Company and each other party hereto shall be entitled to assume that any action taken by Leonardo Santos for purposes of this
Agreement is binding on all of the Founders, and the parties hereto shall be entitled to rely on the same without being required to make further enquiries in respect thereof. Each of DDT Investments Ltd., Cumorah Group Ltd. and ETZ Chaim Investments
Ltd. hereby irrevocably and unconditionally releases and waives any and all claims and demands of any kind whatsoever (whether existing now or in the future, including with respect to contingent liabilities), such Founder may have against Leonardo
Santos in relation to the performance (or non-performance) of any of the rights and duties of his duties as representative of each other Founder pursuant to this Section 7.15, except
in the case of fraud or willful misconduct by Leonardo Santos. 
 [The remainder of this page is intentionally left blank. Signature pages
follow.] 

  
 19 

 IN WITNESS WHEREOF, the Parties have executed this Second Amended and Restated Shareholders Agreement on the
day and year first above written. 
  

	
	ALPHA CAPITAL HOLDCO COMPANY
	
	 /s/ Rafael Steinhauser

	Name: Rafael Steinhauser
	Title: Authorized Signatory
	
	DDT INVESTMENTS LTD.
	
	 /s/ Leonardo Dos Santos Poça D ́Água

	 Name: Leonardo Dos Santos Poça D ́Água

Title: Authorized Signatory

	
	CUMORAH Group Ltd.,
	
	 /s/ Leonardo Dos Santos Poça D ́Água

	Name: Leonardo Dos Santos Poça D ́Água
	Title: Authorized Signatory
	
	ETZ CHAIM INVESTMENTS LTD.
	
	 /s/ Leonardo Dos Santos Poça D ́Água

	 Name: Leonardo Dos Santos Poça D ́Água

Title: Authorized Signatory

	
	CRESCERA GROWTH CAPITAL MASTER SEMANTIX FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA
	
	 /s/ Jaime Cardoso Danvila

	 Crescera Growth Capital Ltda.
 Name: Jaime
Cardoso Danvila

	Title: Director

 [Signature Page to Second A&R Shareholders Agreement] 

 
	
	CRESCERA GROWTH CAPITAL MASTER SEMANTIX FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA
	
	 /s/ Priscila Pereira Rodrigues

	 Crescera Growth Capital Ltda.
 Name: Priscila
Pereira Rodrigues

	Title: Director
	
	FUNDO DE INVESTIMENTO EM PARTIPAÇÕES INOVABRA I – INVESTIMENTO NO EXTERIOR
	
	 /s/ Manuel Maria Pulido Garcia Ferrao de Sousa

2B Capital S.A.
 Name: Manuel Maria Pulido Garcia Ferrao de
Sousa

	Title: Executive Principal
	
	FUNDO DE INVESTIMENTO EM PARTIPAÇÕES INOVABRA I – INVESTIMENTO NO EXTERIOR
	
	 /s/ Leandro Kakumu Kayano

	2B Capital S.A.
	Name: Leandro Kakumu Kayano
	Title: Principal
	
	ALPHA CAPITAL SPONSOR LLC
	
	 /s/ Rafael Steinhauser

	Name: Rafael Steinhauser
	Title: Manager

 [Signature Page to Second A&R Shareholders Agreement] 

 Exhibit A 

Form of Joinder Agreement 
 This
Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining Party”) in accordance with the Second Amended and Restated Shareholders Agreement dated as of August 1, 2022
(as the same may be amended from time to time, the “Shareholders Agreement”) among Alpha Capital Holdco Company, an exempted company incorporated with limited liability in the Cayman Islands (the “Company”), DDT
Investments Ltd., a BVI business company incorporated in the British Virgin Islands, Cumorah Group Ltd., a BVI business company incorporated in the British Virgin Islands, ETZ Chaim Investments Ltd., a BVI business company incorporated in the
British Virgin Islands (together with DDT Investments Ltd. and Cumorah Group Ltd., the “Founders”), Crescera Growth Capital Master Semantix Fundo de Investimento em Participações Multiestratégia, an investment
fund organized under the laws of the Federative Republic of Brazil (“Crescera”), Fundo de Investimento em Partipações Inovabra I – Investimento no Exterior, an investment fund organized under the laws of the
Federative Republic of Brazil (“Inovabra” and, together with Crescera, the “Growth Investors”), and Alpha Capital Sponsor LLC, a Cayman Islands limited liability company (the “Sponsor” and, together
with Company, the Founders and the Growth Investors, the “Parties”, and each a “Party”). 
 Capitalized
terms used, but not defined, herein shall have the meaning ascribed to such terms in the Shareholders Agreement. 
 The Joining Party hereby
acknowledges and agrees that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party under the Shareholders Agreement as of the date hereof and shall have all of the rights and obligations of the shareholder from
whom it has acquired Shares (to the extent permitted by the Shareholders Agreement) as if it had executed the Shareholders Agreement. The Joining Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions
and conditions contained in the Shareholders Agreement. 
 [signature page follows] 

 IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 

 

	
	Date: _________________, 20[ ]
	[NAME OF JOINING PARTY]
	By:
	Name:
	Title:
	
	Address for Notices:

  

	
	AGREED ON THIS [ ] day of [ ], 20[ ]:
	By:
	Name:
	Title:

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