Document:

Exhibit 4.2

 

RIGHTS AGREEMENT

 

This Right Agreement (this
 “Agreement”) is made as of October 20, 2021 between Accretion Acquisition Corp., a Delaware corporation,
with offices at 410 17th Street, #1110, Denver, CO 80202 (the “Company”), and Continental Stock Transfer &
Trust Company, a New York limited purposes trust company, with offices at 1 State Street, New York, New York 10004 (“Rights
Agent”).

 

WHEREAS, the Company is engaged
in an initial public offering (the “Offering”) of units of the Company’s equity securities (each, a “Unit”
and collectively, the “Units”) to EarlyBirdCapital, Inc. and Stephens Inc. (the “Representatives”),
as representatives of the several underwriters, each such Unit comprised of one share of common stock of the Company, par value $0.001
per share (“Common Stock”), one right to receive one-tenth of one share of Common Stock (each, a “Right”
and collectively, the “Rights”) upon the happening of an “Exchange Event” (defined
herein), and one warrant to purchase one-half of one share of Common Stock, and in connection therewith, has determined to issue and deliver
up to 20,700,000 Rights (including up to 2,700,000 Rights subject to the over-allotment option) to public investors in the Offering; and

 

WHEREAS, the Company has filed
with the Securities and Exchange Commission a registration statement on Form S-1, File No. 333-258925, and the prospectus forming
a part thereof (the “Prospectus”), for the registration under the Securities Act of 1933, as amended, of the
Units and each of the securities comprising the Units, and the shares of Common Stock underlying the Rights; and

 

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

 

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

 

WHEREAS, all acts and things
have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on
behalf of the Rights Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution
and delivery of this Agreement.

 

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

 

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

 

2.           Rights.

 

2.1.         Form of
Right. Each Right shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions
of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board and the Secretary
of the Company and shall bear a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed
upon any Right shall have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may be
issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2.         Effect
of Countersignature. Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of
no effect and may not be exchanged for shares of Common Stock.

 

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2.3.         Registration.

 

2.3.1.          Right
Register. The Rights Agent shall maintain books (“Right Register”) for the registration of original issuance
and the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the
Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to
the Rights Agent by the Company.

 

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

 

2.4.          Detachability
of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until ten business days
following the earlier to occur of: (i) the 90th day following the date of the Prospectus or (ii) the announcement
by EarlyBirdCapital, Inc. and Stephens Inc. of its intention to allow separate earlier trading, except that in no event will the
securities comprising the Units be separately tradeable until the Company files a Current Report on Form 8-K which includes an audited
balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering including the proceeds received by the Company
from the exercise of the over-allotment option, if the over-allotment option is exercised by the date thereof and the Company issues a
press release and files a Current Report on Form 8-K announcing when such separate trading shall begin.

 

3.           Terms
and Exchange of Rights

 

3.1.          Rights.
Each Right shall entitle the holder thereof to receive one-tenth of one share of Common Stock upon the happening of an Exchange Event
(defined below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its shares of Common
Stock upon an Exchange Event as the purchase price for such shares of Common Stock has been included in the purchase price for the Units.
In no event will the Company be required to net cash settle the Rights. The provisions of this Section 3.1 may not be modified, amended
or deleted without the prior written consent of the Representatives.

 

3.2.         Exchange
Event. An “Exchange Event” shall occur upon the Company’s consummation of an initial Business Combination
(as defined in the Company’s Amended and Restated Certificate of Incorporation).

 

3.3.         Exchange
of Rights.

 

3.3.1.          Issuance
of Shares of Common Stock. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the
Rights to return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to
the registered holder of such Right(s) a certificate or certificates, or book entry position, for the number of full shares Common
Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it. Notwithstanding the foregoing,
or any provision contained in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights.
The Company shall not issue fractional shares upon exchange of Rights. At the time of an Exchange Event, the Company will either instruct
the Rights Agent to round up to the nearest whole share of Common Stock or otherwise inform it how fractional shares will be addressed,
in accordance with Section 155 of the Delaware General Corporation Law. Each holder of a Right will be required to affirmatively
convert his, her or its rights in order to receive the 1/10 of a share underlying each right (without paying any additional consideration)
upon consummation of the Exchange Event. Each holder of a Right will be required to indicate his, her or its election to convert the Rights
into the underlying shares as well as to return the original certificates evidencing the Rights to the Company.

 

3.3.2.          Valid
Issuance. All shares of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

 

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3.3.3.          Date
of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock is issued shall for all purposes
be deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of
such certificate.

 

3.3.4           Company
Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting
entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration the holders of the
shares of Common Stock will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1
above.

 

3.5          Duration
of Rights. If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated Certificate
of Incorporation, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4.           Transfer
and Exchange of Rights.

 

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

 

4.2.         Procedure
for Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer,
and thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights
so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer
bears a restrictive legend, the Rights Agent shall not cancel such Right and issue new Rights in exchange therefor until the Rights Agent
has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also
bear a restrictive legend.

 

4.3.         Fractional
Rights. The Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a Right Certificate for a fraction of a Right.

 

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

 

4.5.         Right
Execution and Countersignature. The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever required
by the Rights Agent, will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

5.           Other
Provisions Relating to Rights of Holders of Rights.

 

5.1.         No
Rights as Shareholder. Until exchange of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or
other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings
of shareholders or the election of directors of the Company or any other matter.

 

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

 

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5.3.         Reservation
of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common
Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6.           Concerning
the Rights Agent and Other Matters.

 

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

 

6.2.         Resignation,
Consolidation, or Merger of Rights Agent.

 

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

 

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

 

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

 

6.3.         Fees
and Expenses of Rights Agent.

 

6.3.1.          Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

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

 

6.4.         Liability
of Rights Agent.

 

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

 

6.4.2.          Indemnity.
The Rights Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6
below, the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of
the Rights Agent’s gross negligence, willful misconduct, or bad faith.

 

6.4.3.          Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to
the authorization or reservation of any Common Stock to be issued pursuant to this Agreement or any Right or as to whether any Common
Stock will when issued be valid and fully paid and nonassessable.

 

6.5.         Acceptance
of Agency. The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth.

 

6.6          Waiver.
The Rights Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date
hereof, by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7.           Miscellaneous
Provisions.

 

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

 

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7.2.         Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to
or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by
the Company with the Rights Agent), as follows:

 

Accretion Acquisition Corp.

410 17th Street, Suite 1110

Denver, CO 80202

Attn: Brad Morse

 

Any notice, statement or demand authorized by
this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given
when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street

New York, New York 10004

Attn: Compliance Department

 

with a copy to:

 

EarlyBirdCapital, Inc.

366 Madison Avenue, 8th Floor

New York, New York 10017

Attention: Steven Levine

 

Stephens Inc.

65 E 55th Street, 22nd Floor

New York, New York 10022

Attn: Keith Behrens

 

7.3.         Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws
of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in
any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for
the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby
waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such 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 7.2 hereof. Such mailing shall be deemed personal service and
shall be legal and binding upon the Company in any action, proceeding or claim.

 

7.4.         Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties
hereto and the registered holders of the Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, the Representatives, any
right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. The Representatives shall be deemed to be third-party beneficiaries of this Agreement with respect to Sections 3.1, 7.4 and
7.8 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and
exclusive benefit of the parties hereto (and the Representatives with respect to the Sections 3.1, 7.4 and 7.8 hereof) and their
successors and assigns and of the registered holders of the Rights. The provisions of this Section 7.4 may not be modified,
amended or deleted without the prior written consent of the Representatives.

 

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7.5.         Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the
Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any
such holder to submit his, her or its Right for inspection by it.

 

7.6.         Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

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

 

7.8          Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders. All other modifications or amendments shall require the written consent or vote
of the registered holders of a majority of the then outstanding Rights. The provisions of this Section 7.8 may not be modified, amended
or deleted without the prior written consent of the Representatives.

 

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

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, this Agreement has been duly
executed by the parties hereto as of the day and year first above written.

 

	 	ACCRETION ACQUISITION CORP.
	 	 	 
	 	By:	 /s/ Brad Morse                     
	 	 	Name: Brad Morse  
	 	 	Title:  Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 /s/ Steven Vacante
	 	 	Name: Steven Vacante
	 	 	Title: Vice President

 

[Signature Page to Rights Agreement]

 

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Exhibit A

 

Form of Right

 

See attached.

 

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	NUMBER	RIGHTS

 

______R

 

ACCRETION ACQUISITION CORP.

INCORPORATED UNDER THE LAWS OF DELAWARE

RIGHT

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP 00438Y 123

 

THIS CERTIFIES THAT, for value
received

 

is the registered holder of a right or rights (the “Right”
or “Rights,” respectively) to receive one-tenth of one share of common stock, par value $0.001 per share (“Common Stock”),
of Accretion Acquisition Corp., a Delaware corporation (the “Company”), for each Right evidenced by this Right Certificate
on the Company’s completion of an initial business combination (as defined in the prospectus relating to the Company’s initial
public offering (“Prospectus”)) upon surrender of this Right Certificate pursuant to the Rights Agreement (the “Rights
Agreement”) between the Company and Continental Stock Transfer & Trust Company (the “Rights Agent”). In no
event will the Company be required to net cash settle any Right.

 

Upon liquidation of the Company in the event an initial business combination
is not consummated during the required period as identified in the Company’s Amended and Restated Certificate of Incorporation,
as the same may be amended from time to time, the Right(s) shall expire and be worthless. The holder of a Right or Rights shall have
no right or interest of any kind in the Company’s trust account (as defined in the Prospectus).

 

Upon due presentment for registration of transfer of the Right Certificate
at the office or agency of the Rights Agent a new Right Certificate or Right Certificates of like tenor and evidencing in the aggregate
a like number of Rights shall be issued to the transferee in exchange for this Right Certificate, without charge except for any applicable
tax or other governmental charge.

 

The Company and the Rights Agent may deem and treat the registered
holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone),
for the purpose of any conversion hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.

 

Holders of a Right or Rights are not entitled to any of the rights
of a stockholder of the Company.

 

Dated:

 

	Secretary	 	[Corporate Seal]

Delaware	 	Chairman of the Board

 

The following abbreviations, when used in the inscription
on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	TEN COM –	as tenants in common	 	UNIF GIFT MIN ACT -	_____	Custodian	______	 

	TEN ENT –	as tenants by the entireties	 	 	(Cust)	 	(Minor)	 
	JT TEN –	as joint tenants with right of survivorship	 	 
	 	and not as tenants in common	 	 	under Uniform Gifts to Minors
	 	 	 	 	Act ______________
	 	 	 	 	(State)

 

Additional Abbreviations may also be used though
not in the above list.

 

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ACCRETION ACQUISITION CORP.

 

The Company will furnish without charge to each
shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each
class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights.
This certificate and the rights represented thereby are issued and shall be held subject to all the provisions of the Rights Agreement,
and all amendments thereto, to all of which the holder of this certificate by acceptance hereof assents.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 
	 	 
	 	 

 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	 
	 
	 
	 
	 
	 

 

	Rights represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 
	 	Attorney to transfer the said Rights on the books of the within named Company will full power of substitution in the premises.

 

	Dated	 	 

 

	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

	
    THE SIGNATURE(S) SHOULD BE GUARANTEED BY
    AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
    SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

    
	 

 

    1112Exhibit 10.1

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made as of October 20, 2021 by and between Accretion Acquisition Corp. (the
 “Company”) and Continental Stock Transfer & Trust Company (“Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, File No. 333-258925 (“Registration Statement”) and prospectus (“Prospectus”)
for the initial public offering of the Company’s units (“Units”), each of which consists of one share of the
Company’s common stock, par value $0.001 per share (“Common Stock”), one right to receive one-tenth of one share
of Common Stock, and one-half of one warrant (“Warrant”), each whole Warrant entitling the holder to purchase one share
of Common Stock (such initial public offering referred to as the “IPO”) has been declared effective as of the date
hereof (“Effective Date”) by the Securities and Exchange Commission (capitalized terms used herein and not otherwise
defined shall have the meanings set forth in the Registration Statement);

 

WHEREAS, the Company has entered
into an Underwriting Agreement (“Underwriting Agreement”) with EarlyBirdCapital, Inc. and Stephens Inc. as representatives
(the “Representatives”) of the several underwriters (“Underwriters”) named therein;

 

WHEREAS, as described in the
Prospectus, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $181,800,000 ($209,700,000 if
the over-allotment option is exercised in full) of the proceeds from the IPO and a simultaneous private placement of Warrants will be
delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust
Account”) for the benefit of the Company and the holders of the Common Stock included in the Units issued in the IPO as hereinafter
provided (the proceeds to be delivered to the Trustee and any interest subsequently earned thereon will be referred to herein as the “Property”;
the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,”
and the Public Stockholders and the Company will be referred to together as the “Beneficiaries”); and

 

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

 

IT IS AGREED:

 

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

 

(a) Hold the Property
in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the Trustee initially
at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) in the
United States, maintained by Trustee, and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

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

 

(c) In a timely manner,
upon the written instruction of the Company, either (i) invest and reinvest the Property in United States “government securities”
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”),
having a maturity of 185 days or less, and/or in any open ended investment company registered under the Investment Company Act that holds
itself out as a money market fund selected by the Company meeting the conditions of paragraph (d) of Rule 2a-7 promulgated under
the Investment Company Act, which invest only in direct U.S. government treasury obligations or (ii) cause the brokerage institution
referred to in 1(a) above to place the Property in a cash demand deposit account; it being understood that unless the Company instructs
the Trustee to do either of the foregoing, the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder; and while account funds are invested or uninvested, the Trustee may earn bank credits or other consideration;

 

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

 

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

 

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

 

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

 

(h) Render to the Company
monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust
Account;

 

    1

     

    

 

(i) Commence liquidation
of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter from the Company (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B,
as applicable, signed on behalf of the Company and, in the case of a Termination Letter in a form substantially similar to that attached
hereto as Exhibit A, jointly acknowledged and agreed to by the Representatives, and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to
therein; provided, however, that in the event that a Termination Letter has not been received by the Trustee within the period of time
(the “Last Date”) provided in the Company’s Amended and Restated Certificate of Incorporation, as the same may
be amended from time to time (the “Certificate of Incorporation”), the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed to the Public
Stockholders as of the Last Date; and

 

(j) Upon receipt of a
letter (an “Amendment Notification Letter”) in the form of Exhibit C, signed on behalf of the Company
by an authorized officer, distribute to Public Stockholders who exercised their redemption rights in connection with an amendment to Article Fifth
of the Company’s Amended and Restated Certificate of Incorporation (an “Amendment”) an amount equal to the pro
rata share of the Property relating to the Common Stock for which such Public Stockholders have exercised redemption rights in connection
with such Amendment.

 

2. Limited Distributions of Income from
Trust Account.

 

(a) Upon written request
from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D,
the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover
any income or other tax obligation owed by the Company or liquidation expenses not to exceed $100,000.

 

(b) The limited distributions
referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided in Section 2(a) above,
no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) or 1(j) hereof.

 

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

 

(a) Give all instructions
to the Trustee hereunder in writing, signed by any one of the Company’s authorized officers. The Trustee shall be entitled to rely
on such written instructions from the Company confirmed by telephone instruction from a person which the Trustee in good faith believes
to be given by any one of the persons authorized above to give written instructions;

 

(b) Subject to the provisions
of Section 5 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all
expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any claim, potential
claim, action, suit, or other proceeding brought against the Trustee which in any way arises out of or relates to this Agreement, the
services of the Trustee hereunder, or the Property or any income earned from investment of the Property, except for expenses and losses
resulting from the Trustee’s gross negligence, fraud, or willful misconduct. Promptly after the receipt by the Trustee of notice
of demand or claim or the commencement of any action, suit, or proceeding, pursuant to which the Trustee intends to seek indemnification
under this paragraph, it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”).
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain
the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may
not agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably withheld.
The Company may participate in such action with its own counsel;

 

(c) Pay the Trustee an
initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as
set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee shall be deducted
by the Trustee pursuant to Section 1(i) solely in connection with the consummation of a business combination (a
 “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and first year’s fee at
the consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

(d) In connection with
any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit or certificate of a
firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes verifying the vote of the Company’s
stockholders regarding such Business Combination;

 

(e) In the event that
the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees
that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;

 

(f) If the Company has
an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter in the form of Exhibit C providing
instructions for the distribution of funds to Public Stockholders who exercise their redemption rights in connection with such Amendment;
and

 

(g) Provide the Representatives
with a copy of any Termination Letter, Amendment Notification Letter, and/or any other correspondence that it issues to the Trustee with
respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

    2

     

    

 

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

 

(a) Take any action with
respect to the Property, other than as directed in Sections 1 and 2 hereof, and the Trustee shall have
no liability to any party except for liability arising out of its own gross negligence, fraud or willful misconduct;

 

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

 

(c) Change the investment
of any Property, other than in compliance with Section 1(c);

 

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

 

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

 

(f) The other parties
hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and
in the exercise of its own best judgment (provided, that with respect to its duties under Sections 1(i), 1(j),
and 2(a) above, the Trustee shall take no action except as set forth in written instructions from the Company, confirmed
by telephone, in accordance with Section 3(a)), except for its gross negligence, fraud or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion, or advice of counsel (including
counsel chosen by the Trustee), statement, instrument, report, or other paper or document (not only as to its due execution and the validity
and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which is believed
by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person or persons (provided, that with
respect to its duties under Sections 1(i), 1(j), and 2(a) above, the Trustee shall take no action
except as set forth in written instructions from the Company, confirmed by telephone, in accordance with Section 3(a)).
The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination, or rescission of this Agreement or any
of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by the proper party or parties and, if the
duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(g) Verify the correctness
of the information set forth in the Registration Statement or to confirm or assure that any Business Combination consummated by the Company
or any other action taken by it is as contemplated by the Registration Statement;

 

(h) File local, state,
and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account or deliver payee statements
to the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income earned on the Property;

 

(i) Pay any taxes on
behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes and that such taxes,
if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section 2(a) hereof);

 

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

 

(k) Verify calculations,
qualify, or otherwise approve Company requests for distributions pursuant to Sections 1(i), 1(j), and 2(a) above.

 

5. Trust Account Waiver. The Trustee
has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust
Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future. In
the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 3(b) or Section 3(c) hereof,
the Trustee shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the Property or
any monies in the Trust Account.

 

    3

     

    

 

6. Termination. This Agreement shall
terminate as follows:

 

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

 

(b) At such time that
the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section 1(i) hereof,
and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect
to Section 3(b) and Section 5.

 

7. Miscellaneous.

 

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

 

(b) This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of
law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto consent to the
jurisdiction and venue of any state or federal court located in the City of New York, Borough of Manhattan, for purposes of resolving
any disputes hereunder. As to any claim, cross-claim, or counterclaim in any way relating to this Agreement, each party waives the right
to trial by jury.

 

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

 

(d) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections 1(i) and
1(j) (which sections may not be modified, amended or deleted without the affirmative vote of a majority of the then outstanding shares
of Common Stock of the Company; provided that no such amendment will affect any Public Stockholder who has otherwise indicated his, her
or its election to redeem his, her or its shares of Common Stock in connection with a vote sought to amend this Agreement), this Agreement
or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however,
that no such change, amendment or modification may be made without the prior written consent of the Representatives. The Trustee may require
from Company counsel an opinion as to the propriety of any proposed amendment.

 

(e) Any notice, consent
or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express
mail or similar private courier service, by certified mail (return receipt requested), by hand delivery, by email or by facsimile transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez 

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

Accretion Acquisition Corp.

410 17th Street, #1110

Denver, CO 80202

Attn: Brad Morse

E-mail: Brad@fulcrumef.com

 

    4

     

    

 

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

 

EarlyBirdCapital, Inc.

366 Madison Avenue, 8th Floor

New York, NY 10017

Attn: Steven Levine

E-mail: slevine@ebccap.com

 

Stephens Inc.

65 E 55th Street, 22nd Floor

New York, NY 10022

Attn: Keith Behrens

Email: keith.behrens@stephens.com

 

		and	

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

E-mail: dmiller@graubard.com

 

		and	

 

Davis Graham & Stubbs LLP

1550 17th Street, Suite 500

Denver, Colorado 80202

Attn: John Elofson

Sam Seiberling

Sam Niebrugge 

E-mail: John.Elofson@dgslaw.com

Sam.Seiberling@dgslaw.com

Sam.Niebrugge@dgslaw.com

 

(f) This Agreement may
not be assigned by the Trustee or the Company without the prior consent of the other party.

 

(g) Each of the Trustee
and the Company hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to
perform its respective obligations as contemplated hereunder.

 

(h) Each of the Company
and the Trustee hereby acknowledge that the Representatives are third party beneficiaries of this Agreement.

 

[Signature Page Follows]

 

    5

     

    

 

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

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, 

as Trustee
	 	 	 	 
	 	By:	/s/ Francis Wolf
	 	 	Name:	Francis Wolf
	 	 	Title:	Vice President
	 	 	 	 
	 	ACCRETION ACQUISITION CORP.
	 	 	 	 
	 	By:	/s/ Brad Morse
	 	 	Name:	Brad Morse 
	 	 	Title:	Chief Executive Officer 

 

    6

     

    

 

SCHEDULE
A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,500.00	 
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Section 2	 	Billed to Company following disbursement made to Company under Section 2	 	$	250.00	 
	Paying Agent services as required pursuant to section 1(i) and 1(j)	 	Billed to Company upon delivery of service pursuant to section 1(i) and 1(j)	 	 	Prevailing rates	 

 

    Sch. A-1

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Accretion Acquisition Corp. (“Company”) and Continental Stock Transfer &
Trust Company, dated as of _______, 2021 (“Trust Agreement”), this is to advise you that the Company has entered into
an agreement with [__________________] to consummate a business combination (“Business Combination”) on or about [insert
date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the Business
Combination (“Consummation Date”). Capitalized terms used herein and not otherwise defined shall have the meanings
set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments and to transfer the proceeds to the Trust Account
to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to
the account or accounts that the Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are
on deposit in the trust account awaiting distribution, the Company will not earn any interest or dividends.

 

On the Consummation Date (i) counsel
for the Company shall deliver to you written notification that the Business Combination has been consummated and (ii) the Company
shall deliver to you (a) a certificate of the Chief Executive Officer, which verifies the vote of the Company’s stockholders
in connection with the Business Combination if a vote is held and (b) joint written instructions from the Company and the Representative
with respect to the transfer of the funds held in the Trust Account (“Instruction Letter”). You are hereby directed
and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the counsel’s letter and the Instruction
Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be
liquidated by the Consummation Date without penalty, you will notify the Company of the same and the Company shall direct you as to whether
such funds should remain in the Trust Account and distributed after the Consummation Date to the Company. Upon the distribution of all
the funds in the Trust Account pursuant to the terms hereof, your obligations under the Trust Agreement shall be terminated.

 

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

 

	 	Very truly yours,
	 	 
	 	ACCRETION ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:	 Brad Morse 
	 	 	Title:	 Chief Executive Officer

 

AGREED TO AND ACKNOWLEDGED BY

 

	EARLYBIRDCAPITAL, INC.	 

 

	By:	 	 
	 	Name: 	 	 
	 	Title:	 	 

 

	STEPHENS INC.	 
	 	 	 	 
	By:	 	 
	 	Name: 	 	 
	 	Title:	 	 

 

    A-1

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Accretion Acquisition Corp. (“Company”) and Continental Stock Transfer &
Trust Company, dated as of _______, 2021 (“Trust Agreement”), this is to advise you that the Company has been unable
to effect a Business Combination with a Target Company within the time frame specified in the Company’s Amended and Restated Certificate
of Incorporation, as described in the Company’s prospectus relating to its IPO. Capitalized terms used herein and not otherwise
defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds
into the trust operating account to await distribution to the Public Stockholders. The Company has selected [____________, 20__] as the
effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the liquidation
proceeds. It is acknowledged that while the funds are on deposit in the trust operating account awaiting distribution, the Company will
not earn any interest or dividends. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent, to distribute
said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement
shall be terminated.

 

	 	Very truly yours,
	 	 
	 	ACCRETION ACQUISITION CORP.
	 	 	 	 
	 	By:	 
	 	 	Name:	 Brad Morse
	 	 	Title:	 Chief Executive Officer

 

	cc:	
    EarlyBirdCapital, Inc.

    Stephens Inc.

 

    B-1

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account Amendment Notification Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Reference is made to the Investment
Management Trust Agreement between Accretion Acquisition Corp. (“Company”) and Continental Stock Transfer &
Trust Company, dated as of _______, 2021 (“Trust Agreement”). Capitalized words used herein and not otherwise defined
shall have the meanings ascribed to them in the Trust Agreement.

 

Pursuant to Section 1(j) of
the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly, in accordance with the terms of the
Trust Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust Account to distribute to the Public Stockholders
that have requested conversion of their shares in connection with such Amendment. The remaining funds shall be reinvested by you as previously
instructed.

 

	 	Very truly yours,
	 	 
	 	ACCRETION ACQUISITION CORP.
	 	 	 	 
	 	By:	 
	 	 	Name:	Brad Morse
	 	 	Title:	Chief Executive Officer

 

	cc:	
    EarlyBirdCapital, Inc.

    Stephens Inc.

 

    C-1

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account Withdrawal Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 2(a) of
the Investment Management Trust Agreement between Accretion Acquisition Corp. (“Company”) and Continental Stock Transfer &
Trust Company, dated as of _______, 2021 (“Trust Agreement”), the Company hereby requests that you deliver to the Company
[$_______] of the interest income earned on the Property as of the date hereof. The Company needs such funds to pay for its [income or
other tax obligations][dissolution and liquidation expenses, which expenses will not exceed $100,000].

 

In accordance with the terms
of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of
this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	ACCRETION ACQUISITION CORP.
	 	 	 	 
	 	By:	 
	 	 	Name:	Brad Morse  
	 	 	Title:	Chief Executive Officer

 

	cc:	
    EarlyBirdCapital, Inc.

    Stephens Inc.

 

    D-1

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