Document:

Exhibit 10.3

 

Execution Version

 

LOCK-UP AGREEMENT

 

This LOCK-UP AGREEMENT (this
“Agreement”) is made and entered into as of May 18, 2022, by and between (i) Kludein I Acquisition Corp.,
a Delaware corporation (together with its successors, the “Purchaser”), and (ii) the undersigned (“Holder”).
Any capitalized term used but not defined in this Agreement shall have the meaning ascribed to such term in the Merger Agreement (as defined
below).

 

WHEREAS, on or about
the date hereof, the Purchaser, Near Intelligence Holdings Inc., a Delaware corporation (the “Company”), Paas
Merger Sub 1, a Delaware corporation and a wholly-owned subsidiary of the Purchaser (“Merger Sub 1”), and Paas
Merger Sub 2, a Delaware limited liability company and a wholly-owned subsidiary of the Purchaser (“Merger Sub 2”
and, together with Merger Sub 1, the “Merger Subs”), have entered into that certain Agreement and Plan of Merger
(as amended from time to time in accordance with the terms thereof, the “Merger Agreement”), pursuant to which,
among other things, (i) Merger Sub 1 shall merge with and into the Company, with the Company continuing as the surviving entity (the “First
Merger”), and as a result of which, among other things, all of the issued and outstanding capital stock of the Company as
of immediately prior to the First Effective Time shall no longer be outstanding and shall automatically be cancelled and shall cease to
exist, in exchange for the right to receive the Merger Consideration as set forth in the Merger Agreement, all upon the terms and subject
to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the DGCL, and (ii) the Company,
as the surviving entity of the First Merger, shall merge with and into Merger Sub 2, with Merger Sub 2 continuing as the surviving entity
(the “Surviving Entity”) (the “Second Merger” and, together with the First Merger,
the “Mergers”), and as a result of which, among other things, all of the issued and outstanding capital stock
of the Company as of immediately prior to the Second Effective Time shall no longer be outstanding and shall automatically be cancelled
and shall cease to exist and each membership interest of Merger Sub 2 issued and outstanding immediately prior to the Second Effective
Time shall remain outstanding as a membership interest of the Surviving Entity, all upon the terms and subject to the conditions set forth
in the Merger Agreement and in accordance with the applicable provisions of the LLCA;

 

WHEREAS, prior to the
execution and delivery of the Merger Agreement, the Company and Near Pte. Ltd., a Singapore corporation (“N Sing”),
have entered into that certain contribution agreement (together with all agreements, deeds, instruments or other documents as may be necessary
or appropriate to implement and effect the Contribution (the “Contribution Documents”), and have consummated
the Contribution by N Sing of the assets specified in the Contribution Documents to the Company in exchange for capital stock of the Company
pursuant to the terms and conditions of the Contribution Documents;

 

WHEREAS, prior to the
First Effective Time, N Sing shall distribute the capital stock of the Company received by it in the Contribution to all of the N Sing
Shareholders, such that all of the N Sing Shareholders shall constitute and become the sole Company Stockholders and the capital stock
and ownership structure of the Company shall reflect the share capital and ownership structure of N Sing on a 1,000:1 basis as provided
in the Contribution Documents at the time of such distribution (such distribution, together with the Contribution, the “Reorganization”);

 

WHEREAS, following
the Reorganization, Holder will be a holder of Company Stock and, if applicable, Company Warrants or Company RSUs, in such amounts and
classes or series as set forth underneath Holder’s name on the signature page hereto; and

 

WHEREAS, pursuant to
the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, the parties desire to enter into
this Agreement, pursuant to which the Restricted Securities (as defined below) shall become subject to limitations on disposition as set
forth herein.

 

     

     

    

 

NOW, THEREFORE, in
consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the
parties hereby agree as follows:

 

1.
Lock-Up Provisions.

 

(a)
Subject to the exceptions set forth herein, Holder hereby agrees not to, during the period (the “Lock-Up Period”)
commencing from the Closing and ending on the earlier of (i) 180 days after the date of the Closing and (ii) the date on which the Purchaser
completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Purchaser’s
stockholders having the right to exchange their Purchaser Class A Common Stock for cash, securities or other property: (A) lend, offer,
pledge, hypothecate, encumber, donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or
contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Restricted
Securities, (B) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of the Restricted Securities, or (C) publicly disclose the intention to do any of the foregoing, whether any such transaction
described in clauses (A) or (B) above is to be settled by delivery of Restricted Securities or other securities, in cash or otherwise
(any of the foregoing described in clauses (A), (B) or (C), a “Transfer”). “Restricted Securities”
shall mean the Merger Consideration received by Holder in connection with the Merger (all such securities, together with any securities
paid as dividends or distributions with respect to such securities or into which such securities are exchanged or converted, but, for
the avoidance of doubt, shall exclude (1) any shares of the Purchaser Class A Common Stock acquired as part of a PIPE Financing and (2)
any shares of Purchaser Class A Common Stock or other securities convertible into or exercisable or exchangeable for shares of Purchaser
Class A Common Stock acquired by Holder in open market transactions after the Closing.

 

(b)
For the avoidance or doubt, the restrictions set forth in Section 1(a) shall not apply to:

 

(i) Transfers
to any Permitted Transferee (as defined below);

 

(ii) pledges
of any Restricted Securities held by such Holder to a financial institution that create a mere security interest in such Restricted Securities
pursuant to a bona fide loan or indebtedness transaction so long as such Holder continues to control the exercise of the voting
rights of such pledged Restricted Securities as well as any foreclosures on such pledged Restricted Securities;

 

(iii) with
respect to any Assumed RSUs, Transfers to the Purchaser to satisfy tax withholding obligations pursuant to the Purchaser’s equity
incentive plans or arrangements;

 

(iv) with
respect to any Assumed RSUs, Transfers to the Purchaser pursuant to any contractual arrangement in effect at the Closing that provides
for the repurchase by the Purchaser or forfeiture of such Holder’s Restricted Securities in connection with the termination of such
Holder’s service to the Purchaser or any of its Subsidiaries which Transfers are effectuated in accordance with the terms of such
contractual arrangement;

 

(v) transactions
to satisfy any U.S. federal, state, or local income tax obligations of such Holder (or its direct or indirect owners) arising from a change
in the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or the U.S. Treasury Regulations promulgated
thereunder (the “Regulations”) after the date on which the Merger Agreement was executed by the parties, and
such change prevents the Mergers from qualifying as a “reorganization” pursuant to Section 368 of the Code (and the Mergers
do not qualify for similar tax-free treatment pursuant to any successor or other provision of the Code or Regulations taking into account
such changes), in each case, solely to the extent necessary to cover any tax liability as a result of the transaction; and

 

(vi) the
entry, by Holder, at any time after the Closing, of any trading plan providing for the sale of Purchaser Class A Common Stock by Holder,
which trading plan meets the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended, provided, however,
that such plan does not provide for, or permit, the sale of any Purchaser Class A Common Stock during the Lock-Up Period and no public
announcement or filing is voluntarily made or required regarding such plan during the Lock-Up Period;

 

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provided, however, that in
the case of clause (i) and clause (ii), it shall be a condition to such transfer that the transferee executes and delivers to the Purchaser
an agreement stating that the transferee is receiving and holding the Restricted Securities subject to the provisions of this Agreement
applicable to Holder, and there shall be no further transfer of such Restricted Securities except in accordance with this Agreement. As
used in this Agreement, the term “Permitted Transferee” shall mean: with respect to Holder, (1) if such Holder
is an individual, (w) the members of such Holder’s immediate family (for purposes of this Agreement, “immediate family”
shall mean with respect to any natural person, any of the following: such person’s spouse, the siblings of such person and his or
her spouse, and the direct descendants and ascendants (including adopted and step children and parents) of such person and his or her
spouses and siblings), (x) any transferee pursuant to a qualified domestic relations order or by virtue of laws of descent and distribution
upon death of such Holder, (y) a partnership, limited liability company or other entity of which such Holder and/or the immediate family
of such Holder are the legal and beneficial owner of all of the outstanding equity securities or similar interests, and (z) any trust
for the direct or indirect benefit of such Holder or the immediate family of such Holder, (2) if such Holder is a trust, the trustor or
beneficiary of such trust or the estate of a beneficiary of such trust, (3) if such Holder is an entity, (x) as a distribution to limited
partners, shareholders, members of, or owners of similar equity interests in such Holder upon the liquidation and dissolution of such
Holder, and (y) such Holder’s officers or directors or immediate family members of any of such Holder’s officers or directors,
and (4) any affiliate (as defined in Rule 405 under the Securities Act of 1933, as amended) of Holder. Holder further agrees to execute
such agreements as may be reasonably requested by the Purchaser that are consistent with the foregoing or that are necessary to give further
effect thereto.

 

(c)
If any Transfer is made or attempted contrary to the provisions of this Agreement, such purported Transfer shall be null and void
ab initio, and the Purchaser shall refuse to recognize any such purported transferee of the Restricted Securities as one of its
equity holders for any purpose. In order to enforce this Section 1, the Purchaser may impose stop-transfer instructions with
respect to the Restricted Securities of Holder (and Permitted Transferees and assigns thereof) until the end of the Lock-Up Period.

 

(d)
During the Lock-Up Period, each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a
legend in substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF MAY 18, 2022, BY AND BETWEEN THE ISSUER
OF SUCH SECURITIES (THE “ISSUER”) AND THE ISSUER’S SECURITY HOLDER NAMED THEREIN (THE “HOLDER”). A COPY
OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO HOLDER UPON WRITTEN REQUEST.”

 

(e)
For the avoidance of any doubt, Holder shall retain all of its rights as a stockholder of the Purchaser during the Lock-Up Period,
including the right to vote any Restricted Securities, subject to the terms of the Merger Agreement.

 

2.
Miscellaneous.

 

(a)
Termination of Merger Agreement. Notwithstanding anything to the contrary contained herein, this Agreement and all rights
and obligations of the parties hereunder shall automatically terminate and be of no further force or effect upon the earlier of (i) the
termination of the Merger Agreement pursuant to its terms and (ii) the date on which none of the Purchaser or any holder of Restricted
Securities has any rights or obligations hereunder.

 

(b)
Binding Effect; Assignment. This Agreement shall be binding upon Holder upon Holder’s execution and delivery of this
Agreement, but this Agreement shall only become effective upon the Closing. This Agreement and all of the provisions hereof shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. No party hereto shall assign
this Agreement or any part hereof without the prior written consent of the other party hereto, except that (i) the Purchaser may freely
assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation,
equity sale, asset sale or otherwise) without obtaining the consent or approval of Holder, and (ii) for the avoidance of doubt, in connection
with a transfer of any Restricted Securities in accordance with the terms of this Agreement, transferee to whom such Restricted Securities
are transferred shall thenceforth be entitled to all the rights and be subject to all the obligations under this Agreement; provided,
that no such assignment shall relieve the assigning party of its obligations hereunder.

 

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(c)
Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection
with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person
or entity that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

(d)
Governing Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflict of law principles
thereof. All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in the Chancery Court of the
State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over a particular matter, any U.S.
state or federal court located in the State of Delaware (or in any appellate court thereof) (the “Specified Courts”).
Each party hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out
of or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of motion,
defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that
its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of
the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court.
Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by Law. Each party irrevocably consents to the service of the summons and complaint and any other process
in any other action or proceeding relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by
personal delivery of copies of such process to such party at the applicable address set forth in Section 2(g). Nothing in
this Section 2(d) shall affect the right of any party to serve legal process in any other manner permitted by applicable
Law.

 

(e)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (I) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (II) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 2(e).

 

(f)  
Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in
construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement
shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include
the plural and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words “without
limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other words of similar import
shall be deemed in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement;
and (iv) the term “or” means “and/or”. The parties have participated jointly in the negotiation and drafting of
this Agreement. Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue
of the authorship of any provision of this Agreement.

 

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(g)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii)
one (1) Business Day after being sent, if sent by reputable, nationally recognized overnight courier service, or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If to the Purchaser at or prior to the Closing, to:	 	With a copy (which will not constitute notice) to:
	 	 	 
	KludeIn I Acquisition Corp.	 	Ellenoff Grossman & Schole LLP
	1096 Keeler Avenue	 	1345 Avenue of the Americas, 11th Floor
	Berkeley, California 94708	 	New York, New York 10105
	Attn: Mini Krishnamoorthy	 	Attn: 	Mathew A. Gray, Esq.
	Telephone: (650) 246-9907	 	 	Stuart Neuhauser, Esq.
	Email: mk@kludein.com	 	Facsimile No.: (212) 370-7889
	 	 	Telephone No.: (212) 370-1300
	 	 	Email: 	mgray@egsllp.com
	 	 	 	sneuhauser@egsllp.com
	 	 	 
	If to the Purchaser after the Closing, to:	 	with copies (which shall not constitute notice) to:
	 	 	 
	Near Intelligence Holdings Inc.	 	Ellenoff Grossman & Schole LLP
	100W Walnut St	 	1345 Avenue of the Americas, 11th Floor
	STE A-4	 	New York, New York 10105
	Pasadena, CA 91124, USA	 	Attn:	 Mathew A. Gray, Esq.
	 	 	 	Douglas S. Ellenoff, Esq.
	Attn: ANIL MATHEWS	 	Facsimile No.: (212) 370-7889
	Telephone: 415.271.2500	 	Telephone No.: (212) 370-1300
	Email: anil@near.com	 	Email: 	 mgray@egsllp.com
	 	 	 	ellenoff@egsllp.com
	 	 	 
	 	 	and
	 	 	 
	 	 	Kirkland & Ellis
	 	 	26th Floor, Gloucester Tower, The Landmark
	 	 	15 Queen’s Road Central
	 	 	Hong Kong
	 	 	Attn: Daniel Dusek and Joseph Raymond Casey
	 	 	Facsimile No.: +852 3761 3301
	 	 	Telephone No.: +852 3761 9140
	 	 	Email: daniel.dusek@kirkland.com;
	 	 	joseph.casey@kirkland.com
	 	 	 
	 	 	and
	 	 	 
	 	 	Kirkland & Ellis LLP
	 	 	601 Lexington Avenue
	 	 	New York, New York 10022
	 	 	Attn: Tamar Donikyan
	 	 	Facsimile No.: +1 (212) 446 4900
	 	 	Telephone No.: +1 (212) 909 3421
	 	 	Email: tamar.donikyan@kirkland.com
	 	 	 
	If to Holder, to:  the address set forth below Holder’s name on the signature page to this Agreement.

 

(h)
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the
Purchaser and Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of
or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed
as a further or continuing waiver of any such term, condition, or provision.

 

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(i) Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be
modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired
thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon
such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall substitute
for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid,
legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(j) Specific
Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event
of a breach of this Agreement by Holder, money damages will be inadequate and the Purchaser will have no adequate remedy at law, and
agrees that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by Holder in
accordance with their specific terms or were otherwise breached. Accordingly, the Purchaser shall be entitled to an injunction or
restraining order to prevent breaches of this Agreement by Holder and to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in
addition to any other right or remedy to which the Purchaser may be entitled under this Agreement, at law or in equity.

 

(k)
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties with respect
to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
is expressly canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations
of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall limit
any of the rights or remedies of the Purchaser or any of the obligations of Holder under any other agreement between Holder and the Purchaser
or any certificate or instrument executed by Holder in favor of the Purchaser, and nothing in any other agreement, certificate or instrument
shall limit any of the rights or remedies of the Purchaser or any of the obligations of Holder under this Agreement.

 

(l) Further
Assurances. From time to time, at a party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action as may
be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(m) Counterparts. 
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of
which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. A
photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement, shall have the same
validity and enforceability as an originally signed copy.

 

(n) Waivers.
Notwithstanding the foregoing, in the event that any Company Stockholder owning more than one percent (1%) of then-outstanding
common stock of the Purchaser after the Closing, Executive Officer or Senior Leader (other than the undersigned) is granted a waiver
or release by the Purchaser to sell or transfer or otherwise dispose of any of its Restricted Securities (such a party, the
“Triggering Release Party”) prior to the expiration of the Lock-Up Period (other than pursuant to the
exceptions set forth in this Agreement) (a “Triggering Release”), then, unless the undersigned consents
otherwise in writing, a number of each of the undersigned’s Restricted Securities subject to these restrictions shall also be
released (a “Pro Rata Release”) from the restrictions set forth in this Agreement, such number of
Restricted Securities released being the total number of the undersigned’s Restricted Securities held on the date of such
Triggering Release multiplied by a fraction, the numerator of which shall be the number of Restricted Securities held by the
Triggering Release Party that were released pursuant to the Triggering Release, and the denominator of which shall be the total
number of Restricted Securities held by the Triggering Release Party on such date, provided, however, that this provision shall not
apply in the case where Restricted Securities held by such Triggering Release Party are released either (i) to make a Transfer that
is required by applicable Law or (ii) to permit such Triggering Release Party to avoid an impending insolvency, bankruptcy or
assignment for the benefit of such Triggering Release Party’s creditors.

 

{Remainder of Page Intentionally Left Blank;
Signature Pages Follow}

 

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

 

	 	Purchaser:
	 	 
	 	KLUDEIN I ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Mini Krishnamoorthy
	 	Name: 	Mini Krishnamoorthy
	 	Title:	Chief Financial Officer

 

[Signature Page to
Lock-Up Agreement]

 

     

     

    

 

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

 

	Holder:	 	 
	 	 	 
	Name of Holder:  	 	 

 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Number and Type of Company Securities:	 
	Company Common Stock:_______________________________________________________	 
	Shares of Company Series A Preferred Shares:_______________________________________	 
	Shares of Company Series B Preferred Shares:_______________________________________	 
	Shares of Company Series C Preferred Shares:_______________________________________	 
	Shares of Company Series D Preferred Shares:_______________________________________	 
	Shares of Company Series U Preferred Shares:_______________________________________	 
	Company RSUs:_____________________________________________________________	 
	Company Warrants:___________________________________________________________	 

 

	Address for Notice:	 
	 	 
	Address:_________________________________________	 
	 ________________________________________________	 
	 ________________________________________________	 
	Facsimile No.:_____________________________________	 
	Telephone No.:____________________________________	 
	Email:____________________________________________	 

 

[Signature Page to Lock-Up Agreement]Exhibit 10.4

 

Execution Version

 

NON-COMPETITION AND NON-SOLICITATION AGREEMENT

 

This NON-COMPETITION AND NON-SOLICITATION
AGREEMENT (this “Agreement”) is being executed and delivered as of May 18, 2022, by [_______________________]
(the “Subject Party”) in favor of and for the benefit of KludeIn I Acquisition Corp., a Delaware corporation
(together with its successors, the “Purchaser”) and Near Intelligence Holdings Inc., a Delaware corporation
(together with its successors, the “Company”; and the Company, together with the Purchaser and each of the Company’s
direct and indirect Subsidiaries as of the date hereof through the Closing, the “Covered Parties”). Any capitalized
term used but not defined in this Agreement shall have the meaning ascribed to such term in the Merger Agreement (as defined below).

 

WHEREAS, on or about the date
hereof, the Purchaser, the Company, Paas Merger Sub 1 Inc., a Delaware corporation and a wholly-owned subsidiary of the Purchaser (“Merger
Sub 1”), and Paas Merger Sub 2 LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Purchaser
(“Merger Sub 2” and, together with Merger Sub 1, the “Merger Subs”), have entered
into that certain Agreement and Plan of Merger (as amended from time to time in accordance with the terms thereof, the “Merger
Agreement”), pursuant to which, among other things, (i) Merger Sub 1 shall merge with and into the Company, with the Company
continuing as the surviving entity and a wholly-owned subsidiary of the Purchaser (the “First Merger”), and
(ii) immediately following the First Merger, the Company, as the surviving entity of the First Merger, shall merge with and into Merger
Sub 2, with Merger Sub 2 continuing as the surviving entity (the “Surviving Entity”) (the “Second
Merger” and, together with the First Merger, the “Mergers”), and as a result of which, among other
things, all of the issued and outstanding capital stock of the Company as of immediately prior to the Second Effective Time shall no longer
be outstanding and shall automatically be cancelled and shall cease to exist and each membership interest of Merger Sub 2 issued and outstanding
immediately prior to the Second Effective Time shall remain outstanding as a membership interest of the Surviving Entity, all upon the
terms and subject to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the LLCA;

 

WHEREAS, as of the date of
this Agreement, the Subject Party holds Company Stock and/or Company RSUs, each of which Company RSUs will be assumed by the Purchaser
and converted into the Assumed RSUs pursuant to the Merger Agreement upon completion of the Mergers;

 

WHEREAS, the Company, directly
and indirectly through its Subsidiaries, is engaged in the business of designing and developing of software for providing location and
audience based, data driven analytical services, including, without limitation, owning and operating a location intelligence and human
mobility data platform or otherwise dealing in or with all software, hardware and programs related to the above (collectively, the “Business”);

 

WHEREAS, in connection with,
and as a condition to the execution and delivery of the Merger Agreement and the consummation of the Merger and the other transactions
contemplated by the Merger Agreement (collectively, the “Transactions”), and to enable the Purchaser to secure
more fully the benefits of the Transactions, including the protection and maintenance of the goodwill and confidential information of
the Company and its Subsidiaries, the Purchaser has required that the Subject Party enter into this Agreement;

 

WHEREAS, the Subject Party
is entering into this Agreement in order to induce the Purchaser to enter into the Merger Agreement and consummate the Transactions, pursuant
to which the Subject Party shall directly or indirectly receive a material benefit; and

 

WHEREAS, the Subject Party,
as a former and/or current shareholder, director, officer and/or employee of the Company or its Subsidiaries, has contributed to the value
of the Company and its Subsidiaries and has obtained extensive and valuable knowledge and confidential information concerning the business
of the Company and its Subsidiaries.

 

     

     

    

 

NOW, THEREFORE, in order to
induce the Purchaser to enter into the Merger Agreement and consummate the Transactions, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Subject Party hereby agrees as follows:

 

		1.	Restriction on Competition.

 

(a) Restriction.
Subject to the last sentence of this Section 1(a), except to the extent prohibited by applicable law, the Subject Party hereby
agrees that during the period from the Closing until the second (2nd) anniversary of the Closing Date (the “Restricted
Period”), the Subject Party shall not, and shall cause its Affiliates not to, without the prior written consent of the Purchaser
(which may be withheld in its sole discretion), anywhere in the United States of America or in Singapore or in any other markets in which
the Covered Parties are engaged in the Business as of the Closing Date (the “Territory”), directly or indirectly
engage in the Business (other than through a Covered Party or its respective Affiliates (collectively, the “Permitted Parties”))
or own, manage, finance or control, or participate in the ownership, management, financing or control of, or become engaged or serve as
an officer, director, member, partner, employee, agent, consultant, advisor or representative of, a business or entity (other than a Permitted
Party) that engages in the Business (a “Competitor”). Notwithstanding the foregoing, nothing shall prohibit
the Subject Party or its Affiliates from (i) taking any of the foregoing actions specified in this Section 1(a) with respect to
any Competitor where not more than ten percent (10%) of the aggregate revenue of such Competitor for the latest twelve-month period immediately
prior to the actions otherwise restricted by this Section 1(a) is generated by the operation of the Business or a similar product
or business line as any product or business line of the Covered Parties, so long as the Subject Party or its Affiliates or immediate family
members are not involved in the management or control of such Competitor, (ii) investing in any private investment funds in which the
investment decisions are not controlled by the Subject Party or its Affiliates, (iii) maintaining or increasing (as may be required pursuant
to the terms of any contractual call rights) any investment in which the Subject Party or its Affiliates are invested as of the date hereof,
(iv) serving as an independent director on a board of directors, in accordance with the policies of the Purchaser as determined by the
Post-Closing Purchaser Board, or (v) owning passive investments of no more than two percent (2%) of any class of outstanding equity interests
in a Competitor that is publicly traded, so long as the Subject Party or its Affiliates or immediate family members are not involved in
the management or control of such Competitor.

 

(b) Acknowledgment.
The Subject Party acknowledges and agrees, based upon the Subject Party’s own education, experience and training, that (i) the Subject
Party possesses knowledge of confidential information of the Company and its Subsidiaries and the Business, (ii) the Subject Party’s
execution of this Agreement is a material inducement to the Purchaser and the Company to consummate the Transactions and to realize the
goodwill of the Company and its Subsidiaries, for which the Subject Party and/or its Affiliates will receive a substantial direct or indirect
financial benefit, and that the Purchaser and the Company would not have entered into the Merger Agreement or consummated the Transactions
but for the Subject Party’s agreements set forth in this Agreement, (iii) it would impair the goodwill of the Company and its Subsidiaries
and reduce the value of the assets of the Company and its Subsidiaries and cause serious and irreparable injury if the Subject Party were
to use its ability and knowledge by engaging in the Business in competition with a Covered Party, and/or to otherwise breach the obligations
contained herein and that the Covered Parties would not have an adequate remedy at law because of the unique nature of the Business, (iv)
the Subject Party and its Affiliates have no intention of engaging in the Business (other than through the Permitted Parties) during the
Restricted Period in breach of this Agreement, (v) every effort has been made to limit the restrictions placed upon the Subject Party
to those that are reasonable and necessary to protect the Covered Parties’ legitimate interests, (vi) the Covered Parties conduct
and intend to conduct the Business everywhere in the Territory and compete with other businesses that are or could be located in any part
of the Territory, (vii) the foregoing restrictions on competition are fair and reasonable in type of prohibited activity, geographic area
covered, scope and duration, (viii) the consideration provided to the Subject Party under this Agreement and the Merger Agreement is not
illusory, and (ix) such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests
of the Covered Parties.

 

    2

     

    

 

		2.	No Solicitation; No Disparagement.

 

(a) No
Solicitation of Employees and Consultants. Except to the extent prohibited by applicable law, the Subject Party agrees that, during
the Restricted Period, the Subject Party and its Affiliates shall not, without the prior written consent of the Purchaser (which may be
withheld in its sole discretion), either on its own behalf or on behalf of any other Person (other than, if applicable, a Permitted Party
in the performance of the Subject Party’s duties on behalf of the Permitted Parties), directly or indirectly: (i) hire or engage
as an employee, independent contractor, consultant or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage
or otherwise knowingly cause (or attempt to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee,
consultant or independent contractor) of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship
between any Covered Personnel and any Covered Party; provided, however, the Subject Party and its Affiliates shall not be
deemed to have violated this Section 2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment
or engagement from the Subject Party or its Affiliate (or other Person whom any of them is acting on behalf of) by responding to a general
advertisement or solicitation program conducted by or on behalf of the Subject Party or its Affiliate (or such other Person whom any of
them is acting on behalf of) that is not targeted at such Covered Personnel or Covered Personnel generally, and any related hiring or
engaging of such Covered Personnel shall not be deemed a breach of this Section 2(a). For purposes of this Agreement, “Covered
Personnel” shall mean any Person who is or was an employee, consultant or independent contractor of the Covered Parties
as of the Closing or during the one (1)-year period preceding the Closing.

 

(b) Non-Solicitation
of Customers and Suppliers. Except to the extent prohibited by applicable law, the Subject Party agrees that, during the Restricted
Period, the Subject Party and its Affiliates shall not, without the prior written consent of the Purchaser (which may be withheld in its
sole discretion), individually or on behalf of any other Person (other than, if applicable, a Permitted Party in the performance of the
Subject Party’s duties on behalf of the Permitted Parties), directly or indirectly, knowingly: (i) solicit, induce, encourage or
otherwise cause (or attempt to do any of the foregoing) any Covered Customer (as defined below) to (A) cease being, or not become, a client
or customer of any Covered Party with respect to the Business or (B) reduce the amount of business of such Covered Customer with any Covered
Party, or otherwise alter such business relationship in a manner adverse to any Covered Party, in either case, with respect to or relating
to the Business; (ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered
Party and any Covered Customer; (iii) divert any business with any Covered Customer relating to the Business from a Covered Party; (iv)
solicit for business, provide services to, engage in or do business with, any Covered Customer for products or services that are part
of the Business; or (v) knowingly interfere with or disrupt (or attempt to interfere with or disrupt), the relationship between, on the
one hand, any Person that was a vendor, supplier, distributor, or other service provider of a Covered Party at the time of such interference
or disruption, and, on the other hand, a Covered Party, for a purpose competitive with the Business. For purposes of this Agreement, a
“Covered Customer” shall mean any Person who is or was an actual customer or client (or prospective customer
or client with whom the Subject Party actively marketed or made or took specific action to make a proposal) of a Covered Party, as of
the Closing or during the one (1)-year period preceding the Closing.

 

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(c) Non-Disparagement.
The Subject Party agrees that, from and after the Closing until the two (2)-year anniversary of the end of the Restricted Period, the
Subject Party and its Affiliates shall not directly or indirectly engage in any conduct that involves the making or publishing (including
through electronic mail distribution or online social media) of any written or oral statements or remarks that are disparaging, deleterious
or damaging to the integrity, reputation or goodwill of one or more of the Covered Parties or their respective management, officers, employees,
independent contractors or consultants. Notwithstanding the foregoing, subject to Section 3 below, the provisions of this Section
2(c) shall not restrict the Subject Party or its Affiliates from providing truthful testimony or information in response to a subpoena
or investigation by a Governmental Authority or in connection with any legal action by the Subject Party or its Affiliate against any
Covered Party, including under this Agreement, the Merger Agreement or any other Ancillary Document that is asserted by the Subject Party
or its Affiliate in good faith.

 

3. Confidentiality.
From and after the Closing Date, the Subject Party shall, and shall cause its Representatives to, keep confidential and not (except,
if applicable, in the performance of the Subject Party’s duties on behalf of the Permitted Parties) directly or indirectly use,
disclose, reveal, publish, transfer or provide access to, any and all Covered Party Information without the prior written consent of the
Purchaser (which may be withheld in its sole discretion). As used in this Agreement, “Covered Party Information”
means all material and information relating to the business, affairs and assets of any Covered Party, including material and information
that concerns or relates to such Covered Party’s bidding and proposal, technical information, computer hardware or software, administrative,
management, operational, data processing, financial, marketing, customers, sales, human resources, employees, vendors, business development,
planning and/or other business activities, regardless of whether such material and information is maintained in physical, electronic,
or other form, that is: (a) gathered, compiled, generated, produced or maintained by such Covered Party through its Representatives, or
provided to such Covered Party by its suppliers, service providers or customers; and (b) intended and maintained by such Covered Party
or its Representatives, suppliers, service providers or customers to be kept in confidence. Covered Party Information also includes information
disclosed to any Covered Party by a third party to the extent that a Covered Party has an obligation of confidentiality in connection
therewith. The obligations set forth in this Section 3 shall not apply to any Covered Party Information where the Subject Party
can prove that such material or information: (i) is known or available through other lawful sources not bound by a confidentiality agreement
or other confidentiality obligation with respect to such material or information; (ii) is or becomes publicly known through no violation
of this Agreement or other non-disclosure obligation of the Subject Party or any of its Representatives; (iii) is already in the possession
of the Subject Party at the time of disclosure through lawful sources not bound by a confidentiality agreement or other confidentiality
obligation as evidenced by the Subject Party’s documents and records; or (iv) is required to be disclosed pursuant to an order of
any administrative body or court of competent jurisdiction (provided that (A) the applicable Covered Party is given reasonable prior written
notice, to the extent permitted by applicable law, (B) the Subject Party cooperates (and causes its Representatives to cooperate) with
any reasonable request of any Covered Party to seek to prevent or narrow such disclosure and (C) if, after compliance with clauses (A)
and (B), such disclosure is still required, the Subject Party and its Representatives only disclose such portion of the Covered Party
Information that is expressly required by such order, as it may be subsequently narrowed).

 

4. Representations
and Warranties. The Subject Party hereby represents and warrants, to and for the benefit of the Covered Parties as of the date of
this Agreement and as of the Closing Date, that: (a) the Subject Party has full power and capacity to execute and deliver, and to perform
all of the Subject Party’s obligations under, this Agreement; and (b) neither the execution and delivery of this Agreement nor the
performance of the Subject Party’s obligations hereunder shall result directly or indirectly in a violation or breach of any agreement
or obligation by which the Subject Party is a party or otherwise bound. By entering into this Agreement, the Subject Party certifies and
acknowledges that the Subject Party has carefully read all of the provisions of this Agreement, and that the Subject Party voluntarily
and knowingly enters into this Agreement.

 

5. Remedies.
The covenants and undertakings of the Subject Party contained in this Agreement relate to matters which are of a special, unique and
extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered Parties, the
amount of which may be impossible to estimate or determine and which cannot be adequately compensated. The Subject Party agrees that,
in the event of any breach or threatened breach by the Subject Party or its Affiliates of any covenant or obligation contained in this
Agreement, each applicable Covered Party shall be entitled to obtain the following remedies (in addition to, and not in lieu of, any other
remedy at law or in equity or pursuant to the Merger Agreement or the other Ancillary Documents that may be available to the Covered Parties,
including monetary damages), and a court of competent jurisdiction may award: (a) an injunction, restraining order or other equitable
relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages or that monetary damages
would be insufficient or posting bond or security, which the Subject Party expressly waives; and (b) recovery of the Covered Party’s
attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement. The Subject Party hereby
consents to the award of any of the above remedies to the applicable Covered Party in connection with any such breach or threatened breach.
The Subject Party hereby acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated
to this Agreement (or any other non-competition agreement with the Subject Party) under or in connection with the Merger Agreement shall
not be considered a measure of, or a limit on, the damages of the Covered Parties.

 

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6. Survival
of Obligations. The expiration of the Restricted Period shall not relieve the Subject Party of any obligation or liability arising
from any breach by the Subject Party of this Agreement during the Restricted Period. The Subject Party further agrees that the time period
during which the covenants contained in Section 1 and Section 2 of this Agreement will be effective shall be computed by
excluding from such computation any time during which the Subject Party is in violation of any provision of such Sections.

 

7. Miscellaneous.

 

(a) Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when
delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one (1) Business
Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days after being
mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case, to the applicable party at the following
addresses (or at such other address for a party as shall be specified by like notice):

 

	If to the Purchaser at or prior to the Closing, to:	 	with a copy (that will not constitute notice) to:
	KludeIn I Acquisition Corp.	 	Ellenoff Grossman & Schole LLP
	1096 Keeler Avenue	 	1345 Avenue of the Americas, 11th Floor
	Berkeley, California 94708	 	New York, New York 10105
	Attn: Mini Krishnamoorthy	 	Attn: 	 Douglas S. Ellenoff, Esq.
	Telephone: (650) 246-9907	 	 	Matthew A. Gray, Esq.
	Email: mk@kludein.com	 	Facsimile No.: (212) 370-7889
	 	 	Telephone No.: (212) 370-1300
	 	 	Email:	 ellenoff@egsllp.com
	 	 	 	mgray@egsllp.com
	 	 	 
	If to the Company (or any other Covered Party) at or prior to the Closing, or to the Purchaser (or any other Covered Party) after the Closing, to: 

Near Intelligence Holdings Inc. 

100W Walnut St 

STE A-4	 	with a copy (that will not constitute notice) to: 

Ellenoff Grossman & Schole LLP 

1345 Avenue of the Americas, 11th Floor

 New York, New York 10105
	Pasadena, CA 91124, USA	 	Attn: 	Douglas S. Ellenoff, Esq.
	Attn: ANIL MATHEWS	 	 	Matthew A. Gray, Esq.
	Telephone: 415.271.2500	 	Facsimile No.: (212) 370-7889
	Email: anil@near.com	 	Telephone No.: (212) 370-1300
	 	 	Email: 	 ellenoff@egsllp.com
	 	 	 	mgray@egsllp.com
	 	 	 	 
	 	 	and
	 	 	 
	 	 	Kirkland & Ellis
	 	 	26th Floor, Gloucester Tower, The Landmark
	 	 	15 Queen’s Road Central
	 	 	Hong Kong
	 	 	Attn: Daniel Dusek and Joseph Raymond Casey
	 	 	Facsimile No.: +852 3761 3301
	 	 	Telephone No.: +852 3761 9140
	 	 	Email: daniel.dusek@kirkland.com;
	 	 	joseph.casey@kirkland.com
	 	 	 
	 	 	and
	 	 	 
	 	 	Kirkland & Ellis LLP
	 	 	601 Lexington Avenue
	 	 	New York, New York 10022
	 	 	Attn: Tamar Donikyan
	 	 	Facsimile No.: +1 (212) 446 4900
	 	 	Telephone No.: +1 (212) 909 3421
	 	 	Email: tamar.donikyan@kirkland.com
	 	 	 
	If to the Subject Party, to:

the address below the Subject Party’s name on the signature page to this Agreement.

 

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(b) Integration
and Non-Exclusivity. This Agreement, the Merger Agreement and the other Ancillary Documents contain the entire agreement between the
Subject Party and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the rights and remedies of
the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies which they may have, whether
at law, in equity, by contract or otherwise, all of which shall be cumulative (and not alternative). Without limiting the generality of
the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities of the Subject Party and its Affiliates,
under this Agreement, are in addition to their respective rights, remedies, obligations and liabilities (i) under the laws of unfair competition,
misappropriation of trade secrets, or other requirements of statutory or common law, or any applicable rules and regulations and (ii)
otherwise conferred by contract, including the Merger Agreement and any other written agreement between the Subject Party or its Affiliates
and any of the Covered Parties. Nothing in the Merger Agreement shall limit any of the obligations, liabilities, rights or remedies of
the Subject Party or the Covered Parties under this Agreement, nor shall any breach of the Merger Agreement or any other agreement between
the Subject Party or its Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy of the Covered Parties
under this Agreement. If any term or condition of any other agreement between the Subject Party or its Affiliate and any of the Covered
Parties conflicts or is inconsistent with the terms and conditions of this Agreement, the more restrictive terms shall control as to the
Subject Party or its Affiliate, as applicable.

 

(c) Severability;
Reformation. Each provision of this Agreement is separable from every other provision of this Agreement. If any provision of this
Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of competent jurisdiction, then (i)
such provision shall be deemed amended to conform to applicable laws so as to be valid, legal and enforceable to the fullest possible
extent, (ii) the invalidity, illegality or unenforceability of such provision shall not affect the validity, legality or enforceability
of such provision under any other circumstances or in any other jurisdiction, and (iii) the invalidity, illegality or unenforceability
of such provision shall not affect the validity, legality or enforceability of the remainder of such provision or the validity, legality
or enforceability of any other provision of this Agreement. The Subject Party and the Covered Parties shall substitute for any invalid,
illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable,
the intent and purpose of such invalid, illegal or unenforceable provision. Without limiting the foregoing, if any court of competent
jurisdiction determines that any part hereof is unenforceable because of the duration, geographic area covered, scope of such provision,
or otherwise, such court shall have the power to reduce the duration, geographic area covered or scope of such provision, as the case
may be, and, in its reduced form, such provision will then be enforceable.

 

(d) Amendment;
Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed by the Subject Party,
the Purchaser and the Company (or their respective successors or permitted assigns). No waiver shall be effective unless it is expressly
set forth in a written instrument executed by the waiving party and any such waiver shall have no effect except in the specific instance
in which it is given. Any delay or omission by a party in exercising its rights under this Agreement, or failure to insist upon strict
compliance with any term, covenant, or condition of this Agreement shall not be deemed a waiver of such term, covenant, condition or right,
nor shall any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment
of such right or power at any other time or times.

 

(e) Governing
Law and Dispute Resolutions. The provisions of Sections 9.6 (Governing Law; Jurisdiction) and 9.7 (Waiver of Jury Trial)
of the Merger Agreement are incorporated herein by reference, mutatis mutandis, as if set forth in full herein; provided, however,
that the provisions of Section 9.7 (Waiver of Jury Trial) only shall apply to any Subject Party located in California to the extent
permitted under applicable law.

 

(f) Attorneys’
Fees. If any party brings any action or arbitration, at law or in equity, to enforce or interpret the terms of this Agreement, the
prevailing party shall be entitled to recover from the other party all reasonable and documented out-of-pocket attorneys’ fees incurred
by such prevailing party in connection with such action or arbitration, in addition to any relief to which such party may be entitled,
as determined by the arbitrator or court of competent jurisdiction providing over such action or arbitration.

 

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(g) Successors
and Assigns; Third Party Beneficiaries. This Agreement shall be binding upon the Subject Party and the Subject Party’s estate,
successors and permitted assigns, and shall inure to the benefit of the Permitted Parties, and their respective successors and permitted
assigns. Each Permitted Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any
Person which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise)
of such Permitted Party or all or substantially all of the assets of such Permitted Party and its Subsidiaries, taken as a whole, without
obtaining the consent or approval of the Subject Party. The Subject Party agrees that the obligations of the Subject Party under this
Agreement are personal and will not be assigned by the Subject Party. Each of the Permitted Parties are express third-party beneficiaries
of this Agreement and shall be considered parties under and for purposes of this Agreement.

 

(h) Authorization
to Act on Behalf of Covered Parties. In the event that the Subject Party serves as a director, officer, employee or other authorized
agent of a Permitted Party, the Subject Party shall have no authority, express or implied, to act or make any determination on behalf
of a Covered Party in connection with this Agreement or any dispute or Action with respect hereto.

 

(i) Construction.
The Subject Party acknowledges that the Subject Party has had the opportunity to be represented by counsel of the Subject Party’s
choice. Any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not be applied in
the construction or interpretation of this Agreement. Neither the drafting history nor the negotiating history of this Agreement shall
be used or referred to in connection with the construction or interpretation of this Agreement. The headings and subheadings contained
in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. In
this Agreement: (i) the words “include,” “includes” and “including” when used herein shall be deemed
in each case to be followed by the words “without limitation”; (ii) the definitions contained herein are applicable to the
singular as well as the plural forms of such terms; (iii) whenever required by the context, any pronoun shall include the corresponding
masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (iv)
the words “herein,” “hereto,” and “hereby” and other words of similar import shall be deemed in each
case to refer to this Agreement as a whole and not to any particular Section or other subdivision of this Agreement; (v) the word “if”
and other words of similar import when used herein shall be deemed in each case to be followed by the phrase “and only if”;
(vi) the term “or” means “and/or”; and (vii) any agreement or instrument defined or referred to herein or in any
agreement or instrument that is referred to herein means such agreement or instrument as from time to time amended, modified or supplemented,
including by waiver or consent, and includes all attachments thereto and instruments incorporated therein.

 

(j) Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which
when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. A photocopy,
faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement, shall have the same validity and enforceability
as an originally signed copy.

 

(k) Effectiveness.
This Agreement shall only become effective upon the consummation of the Transactions. In the event that the Merger Agreement is validly
terminated in accordance with its terms prior to the consummation of the Transactions, this Agreement shall automatically terminate and
become null and void, and the parties shall have no obligations hereunder.

  

[Remainder of Page Intentionally Left Blank;
Signature Page Follows]

 

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IN WITNESS WHEREOF, the undersigned
has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first written above.

 

	 	Subject Party:
	 		 
	 	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

  

	 	Address for Notice:
	 	 	 
	 	Address: 	 
	 	 
	 	 
	 	Facsimile No.:	 
	 	Telephone No.: 	 
	 	Email:	 

 

     

     

    

 

Acknowledged and accepted as of the date
first written above:

 

	The Purchaser: 	 
	 	 	 
	KLUDEIN I ACQUISITION CORP.	 
	 	 	 
	By:	/s/ Mini Krishnamoorthy	 
	Name:   	Mini Krishnamoorthy	 
	Title: 	Chief Financial Officer	 

 

	The Company:	 
	 	 	 
	NEAR INTELLIGENCE HOLDINGS INC.	 
	 	 	 
	By:	/s/ Anil Mathews	 
	Name:   	Anil Mathews	 
	Title: 	Authorized Signatory

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