Document:

Exhibit 10.1

 

REGISTRATION RIGHTS AGREEMENT 

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of December 16, 2021, is made and entered into by and among Revelstone Capital Acquisition
Corp., a Delaware corporation (the “Company”), Revelstone Capital, LLC, a Delaware limited liability company (the “Sponsor”),
certain affiliates of Roth Capital Partners, LLC listed under “Roth Parties” on the signature page hereto (the “Roth
Parties”), the qualified institutional buyers or institutional accredited investors listed under “Anchor Investors”
on the signature pages hereto (the “Anchor Investors”), and the undersigned parties listed under Holder on the signature
page hereto (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant
to Section 5.2 of this Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS 

 

WHEREAS, the Company
and the Sponsor have entered into that certain Securities Subscription Agreement (the “Founder Shares Purchase Agreement”),
dated as of May 11, 2021 pursuant to which the Sponsor purchased an aggregate of 4,312,500 shares (the “Founder Shares”)
of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common Stock”), up to 562,500
of which are subject to forfeiture by the Sponsor depending on the extent to which the underwriters’ over-allotment option is exercised;

 

WHEREAS, the Sponsor
has entered into certain Stock Transfer Agreements (the “Stock Transfer Agreements”), each dated as of November 18,
2021, with each of the individuals set forth on Exhibit A attached hereto, pursuant to which the Sponsor transferred an aggregate of 1,125,000
Founder Shares to such individuals on the terms set forth in the Stock Transfer Agreements;

 

WHEREAS, simultaneously
with the closing of the Company’s initial public offering, the Sponsor expects to transfer an aggregate of 3,187,500 Founder Shares
to the other Holders, which are subject to forfeiture;

 

WHEREAS, the Founder
Shares are convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”),
on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS, on December
16, 2021, the Company and the Sponsor entered into that certain Sponsor Warrants Purchase Agreement (the “Sponsor Warrants Purchase
Agreement”), pursuant to which the Sponsor agreed to purchase an aggregate of 5,050,000 warrants
(or up to 5,725,000 warrants if the over-allotment option in connection with the Company’s initial public offering is exercised
in full) (the “Private Placement Warrants”), in a private placement transaction occurring simultaneously with the closing
of the Company’s initial public offering, each Private Placement Warrant entitling the holder thereof to purchase one share of Common
Stock at a price of $11.50;

 

WHEREAS, on December
16, 2021, the Company and the Roth Parties entered into that certain Warrants Purchase Agreement (the “Roth Warrants Purchase
Agreement”), pursuant to which the Roth Parties agreed to purchase an aggregate of 750,000 warrants
(regardless of whether the over-allotment option in connection with the Company’s initial public offering is exercised in full)
(the “Private Placement Warrants”), in a private placement transaction occurring simultaneously with the closing of
the Company’s initial public offering, each Private Placement Warrant entitling the holder thereof to purchase one share of Common
Stock at a price of $11.50: and

 

WHEREAS, the Company
and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights
with respect to certain securities of the Company, as set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

     

     

    

 

ARTICLE I 

 

DEFINITIONS

 

1.1 Definitions. The terms defined in this Article I
shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive
Officer, the President or the principal financial officer of the Company, after consultation with counsel to the Company, (i) would be
required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not
misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the Company
has a bona fide business purpose for not making such information public.

 

“Agreement” shall have the meaning
given in the Preamble.

 

“Anchor Investors” shall have
the meaning given in the Preamble.

 

“Board” shall mean the Board
of Directors of the Company.

 

“Business Combination”
shall mean any merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one
or more businesses, involving the Company.

 

“Business Day”
means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally
authorized or required by law or regulation to close in the City of New York, New York.

 

“Class B Common Stock” shall
have the meaning given in the Recitals hereto.

 

“Commission” shall mean the
Securities and Exchange Commission.

 

“Common Stock” shall have the
meaning given in the Recitals hereto.

 

“Company” shall have the meaning
given in the Preamble.

 

“Demand Registration” shall
have the meaning given in subsection 2.1.1.

 

“Demanding Holder” shall have
the meaning given in subsection 2.1.1.

 

“Exchange Act” shall mean the
Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form S-1” shall have the meaning
given in subsection 2.1.1.

 

“Form S-3” shall have the meaning
given in subsection 2.3.

 

“Founder Shares”
shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of Common Stock issuable upon conversion
thereof.

 

“Founder Shares Lock-up
Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) one year after the completion
of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the last reported sale price
of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, rights issuances, consolidations,
reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period commencing
at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation,
merger, share exchange, reorganization or other similar transaction that results in all of the Company’s public stockholders having
the right to exchange their shares of Common Stock for cash, securities or other property (except with respect to Permitted Transferees).

 

     

     

    

 

“Founder Shares Purchase
Agreement” shall have the meaning given in the Recitals hereto.

 

“Holders”
shall have the meaning given in the Preamble.

 

“Insider Letter”
shall mean that certain letter agreement, dated as of December 16, 2021, by and among the Sponsor and each of the Company’s officers,
directors and director nominees.

 

“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements contained therein (in the case of any Prospectus, in the light of the circumstances
under which they were made) not misleading.

 

“Permitted Transferees”
shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior
to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, pursuant to the Insider
Letter and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.2.1.

 

“Private Placement
Lock-up Period” shall mean, with respect to Private Placement Warrants that are held by the initial purchasers of such Private
Placement Warrants or their Permitted Transferees, the Private Placement Warrants and any shares of Common Stock issued or issuable upon
the exercise or conversion of the Private Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants
or their Permitted Transferees, the period ending 30 days after the completion of the Company’s initial Business Combination.

 

“Private Placement
Warrants” shall have the meaning given in the Recitals hereto.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security”
shall mean (a) the shares of Common Stock issued or issuable upon the conversion of any Founder Shares, (b) the Private Placement Warrants
(including any shares of the Common Stock issued or issuable upon the exercise of any such Private Placement Warrants), (c) any outstanding
shares of Common Stock or any other equity security (including, without limitation, the shares of Common Stock issued or issuable upon
the exercise of any other equity security, units comprising shares of Common Stock and warrants, and warrants) of the Company held by
a Holder from time to time, (d) any equity securities (including the shares of the Common Stock issued or issuable upon the exercise of
any such equity security) of the Company issuable upon conversion of any working capital loans in an amount up to $1,500,000 made to the
Company by a Holder, and (e) any other equity security of the Company issued or issuable with respect to any such share of the Common
Stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation
or reorganization; provided, however, that, as to any particular Registrable Security, such securities shall cease to be
Registrable Securities when: (A) a Registration Statement with respect to the resale of such securities shall have become effective under
the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration
Statement; (B) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting
further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration
pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated by the Commission) (but with no volume or
other restrictions or limitations); or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public
distribution or other public securities transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

     

     

    

 

“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A) all registration and filing
fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any securities
exchange on which the Common Stock is then listed;

 

(B) fees and expenses of compliance
with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriter(s) in connection with blue
sky qualifications of Registrable Securities);

 

(C) printing, messenger, telephone
and delivery expenses;

 

(D) reasonable fees and disbursements
of counsel for the Company;

 

(E) reasonable fees and disbursements
of all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

 

(F) reasonable fees and expenses
of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered
for offer and sale in the applicable Registration.

 

“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the
Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder”
shall have the meaning given in subsection 2.1.1.

 

“Roth Parties”
shall have the meaning given in the Preamble hereto.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

 

“Sponsor”
shall have the meaning given in the Preamble hereto

.

“Sponsor Warrants
Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to one or more Underwriters
in a firm commitment underwriting for distribution to the public.

 

     

     

    

 

ARTICLE II 

 

REGISTRATIONS

 

2.1 Demand Registration.

 

2.1.1 Request for
Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to
time on or after the date the Company consummates the Business Combination, the Holders of at least thirty percent (30%) in interest
of the then-outstanding number of Registrable Securities or (ii) Roth Parties and their respective designees (the
 “Demanding Holders”) may make a written demand for Registration under the Securities Act of all or part of their
Registrable Securities, which written demand shall describe the amount and type of securities to be included in such Registration
and the intended method(s) of distribution thereof (such written demand a “Demand Registration”). The Company
shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other Holders of
Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a portion
of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes
all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”) shall
so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon receipt
by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be
entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall
effect, as soon thereafter as reasonably practicable, but not more than forty five (45) days immediately after the Company’s
receipt of the Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting
Holders pursuant to such Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate
of three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all
Registrable Securities, including one (1) Demand Registration on behalf of all of the Roth Parties and their respective designees; provided, however,
that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that
may be available at such time (“Form S-1”) has become effective and all of the Registrable Securities requested
by the Requesting Holders to be registered for resale on behalf of the Requesting Holders in such Form S-1 Registration have been
sold, in accordance with Section 3.1 of this Agreement.

 

2.1.2 Effective Registration.
Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand
Registration shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission with respect
to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied with
all of its obligations under this Agreement with respect thereto; provided, further, that if, after such Registration Statement
has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently
interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental agency the Registration
Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until, (i) such stop order
or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders initiating such
Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing, but
in no event later than five (5) days, of such election; provided, further, that the Company shall not be obligated or required
to file another Registration Statement until the Registration Statement that has been previously filed with respect to a Registration
pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

2.1.3 Underwritten Offering.
Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the Demanding Holders
so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant to such Demand Registration
shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder (if any) to include its
Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such Underwritten Offering
and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided herein. All such
Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.1.3 shall
enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the majority-in-interest
of the Demanding Holders initiating the Demand Registration.

 

2.1.4 Reduction of
Underwritten Offering. If the managing Underwriter(s) in an Underwritten Registration pursuant to a Demand Registration, in good
faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number of
Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other
Common Stock or other equity securities that the Company desires to sell for its own account and the Common Stock, if any, as to
which a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other
stockholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the
Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the
probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the
 “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i)
first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective
number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in such
Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders have
requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clause (i), the Common Stock or other equity securities that the Company desires
to sell for its own account, which can be sold without exceeding the Maximum Number of Securities; and (iii) third, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Common Stock or other
equity securities of other persons or entities that the Company is obligated to register for resale in a Registration pursuant to
separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of
Securities.

 

     

     

    

 

2.1.5 Demand Registration
Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting
Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from a Registration pursuant
to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter(s) (if any) of
their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the Commission
with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding anything to the
contrary in this Agreement, (i) the Company may effect any Underwritten Registration pursuant to any then effective Registration Statement,
including a Form S-3, that is then available for such offering and (ii) the Company shall be responsible for the Registration Expenses
incurred in connection with a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

2.2 Piggyback Registration.

 

2.2.1 Piggyback Rights.
If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration Statement
under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company and
by the stockholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a Registration Statement
(i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely
to the Company’s existing stockholders, (iii) for an offering of debt that is convertible into equity securities of the Company
or (iv) for a dividend reinvestment plan, then the Company shall give written notice of such proposed filing to all of the Holders of
Registrable Securities as soon as reasonably practicable but not less than ten (10) days before the anticipated filing date of such Registration
Statement, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter(s), if any, in such offering, and (B) offer to all of the Holders of Registrable
Securities the opportunity to register the resale of such number of Registrable Securities as such Holders may request in writing within
five (5) days after receipt of such written notice (such Registration a “Piggyback Registration”). The Company shall,
in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its best efforts to cause
the managing Underwriter(s) of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant
to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar securities
of the Company included in such Registration and to permit the resale or other disposition of such Registrable Securities in accordance
with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an
Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the Company.

 

2.2.2 Reduction of Piggyback
Registration. If the managing Underwriter(s) in an Underwritten Registration that is to be a Piggyback Registration, in good faith,
advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount
or number of the Common Stock that the Company desires to sell, taken together with (i) the Common Stock, if any, as to which Registration
has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder (ii) the Registrable Securities as to which registration has been requested pursuant Section 2.2 hereof, and
(iii) the Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration
rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

     

     

    

 

(a) If the Registration is
undertaken for the Company’s account, the Company shall include in any such Registration (A) first, the Common Stock or other equity
securities that the Company desires to sell for its own account, which can be sold without exceeding the Maximum Number of Securities;
(B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities
of Holders exercising their rights to register the resale of their Registrable Securities pursuant to subsection 2.2.1 hereof,
Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clauses (A) and (B), the Common Stock, if any, as to which Registration has been requested
pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding
the Maximum Number of Securities;

 

(b) If the Registration is
pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall include in any such
Registration (A) first, the Common Stock or other equity securities, if any, of such requesting persons or entities, other than the Holders
of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights
to register the resale of their Registrable Securities pursuant to subsection 2.2.1, pro rata based on the number of Registrable
Securities that each Holder has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Holders have requested to be included in such Underwritten Registration, which can be sold without exceeding the Maximum Number
of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and
(B), the Common Stock or other equity securities that the Company desires to sell for its own account, which can be sold without exceeding
the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (A), (B) and (C), the Common Stock or other equity securities for the account of other persons or entities that the Company is
obligated to register for resale pursuant to separate written contractual arrangements with such persons or entities, which can be sold
without exceeding the Maximum Number of Securities.

 

2.2.3 Piggyback Registration
Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason
whatsoever upon written notification to the Company and the Underwriter(s) (if any) of his, her or its intention to withdraw from such
Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback
Registration (or in the case of an Underwritten Registration pursuant to Rule 415 under the Securities Act, at least two business days
prior to the time of pricing of the applicable offering). The Company (whether on its own good faith determination or as the result of
a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed
with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement.
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in
connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

 

2.2.4 Unlimited Piggyback
Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not be counted
as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

     

     

    

 

2.3 Registrations on
Form S-3. The Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company,
pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale
of any or all of their Registrable Securities on Form S-3 or any similar short form registration statement that may be available at
such time (“Form S-3”), or if the Company is ineligible to use Form S-3, on Form S-1; provided, however,
that the Company shall not be obligated to effect such request through an Underwritten Offering. Within five (5) days of the
Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the
Company shall promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable Securities,
and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable
Securities in such Registration on Form S-3 shall so notify the Company, in writing, within ten (10) days after the receipt by the
Holder of the notice from the Company. As soon as reasonably practicable thereafter, but not more than twelve (12) days after the
Company’s initial receipt of such written request for a Registration on Form S-3, the Company shall register the resale of all
or such portion of such Holder’s Registrable Securities as are specified in such written request, together with all or such
portion of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written
notification given by such Holder or Holders; provided, however, that the Company shall not be obligated to effect any
such Registration pursuant to Section 2.3 hereof if the Holders of Registrable Securities, together with the Holders of any
other equity securities of the Company entitled to inclusion in such Registration, propose to sell the Registrable Securities and
such other equity securities (if any) at any aggregate price to the public of less than $10,000,000. The Company shall maintain each
registration statement pursuant to this Section 2.3 (a “Shelf”) in accordance with the terms hereof, and
shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to
keep such Shelf continuously effective, available for use and in compliance with the provisions of the Securities Act until such
time as there are no longer any Registrable Securities included on such Shelf. In the event the Company files a Shelf on Form S-1,
the Company shall use its commercially reasonable efforts to convert the Form S-1 to a Form S-3 as soon as reasonably practicable
after the Company is eligible to use Form S-3. Registrations effected pursuant to this Section 2.3 shall not be counted as
Demand Registrations effected pursuant to Section 2.1.

 

2.4 Restrictions on Registration
Rights. If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date
of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration
and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection
2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to
become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the
commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration would be materially
detrimental to the Company and the Board concludes as a result that it is essential to defer the filing of such Registration Statement
at such time, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating that
in the good faith judgment of the Board it would be materially detrimental to the Company for such Registration Statement to be filed
in the near future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company shall
have the right to defer such filing for a period of not more than thirty (30) days; provided, however, that the Company
shall not defer its obligation in this manner more than once in any 12-month period. Notwithstanding anything to the contrary contained
in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall become effective, with respect to
any Registrable Securities held by any Holder, until after the expiration of the Founder Shares Lock-Up Period or the Private Placement
Lock-Up Period, as the case may be.

 

ARTICLE III 

 

COMPANY PROCEDURES

 

3.1 General Procedures.
If at any time on or after the date the Company consummates a Business Combination the Company is required to effect the Registration
of Registrable Securities, the Company shall use its best efforts to effect such Registration to permit the resale of such Registrable
Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1 prepare and file with
the Commission as soon as reasonably practicable a Registration Statement with respect to such Registrable Securities and use its reasonable
best efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by
such Registration Statement have been sold;

 

3.1.2 prepare and file
with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be reasonably requested by the majority in interest of the Holders with Registrable Securities registered for
resale on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in
accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

     

     

    

 

3.1.3 prior to filing a Registration
Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriter(s), if any, and the Holders
of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such Registration Statement
as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and
documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus),
and such other documents as the Underwriter(s) and the Holders of Registrable Securities included in such Registration or the legal counsel
for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holders;

 

3.1.4 prior to any public offering
of Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities covered by the Registration Statement
under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable Securities
included in such Registration Statement (in light of their intended plan of distribution) may request and (ii) take such action necessary
to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental
authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that
may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement to consummate the
disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would
be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5 cause all such Registrable
Securities to be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are
then listed;

 

3.1.6 provide a transfer agent
or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration
Statement;

 

3.1.7 advise each seller of
such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by
the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such
purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop
order should be issued;

 

3.1.8 at least five (5) days
prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus,
furnish a copy thereof to each seller of such Registrable Securities or its counsel;

 

3.1.9 notify the Holders at
any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening
of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement,
and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10 permit a representative
of the Holders, the Underwriter(s), if any, and any attorney or accountant retained by such Holders or Underwriter(s) to participate,
at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors
and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or accountant in connection
with the Registration; provided, however, that such representatives or Underwriter(s) enter into a confidentiality agreement, in form
and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11 obtain a
 “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Registration, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as
the managing Underwriter(s) may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

     

     

    

 

3.1.12 on the date the Registrable
Securities are delivered for resale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company
for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriter(s), if
any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the participating
Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and negative
assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;

 

3.1.13 in the event of any Underwritten
Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing Underwriter(s)
of such offering;

 

3.1.14 make available to its
security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning
with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which satisfies
the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission);

 

3.1.15 if the Registration involves
the Registration of the resale of the Registrable Securities involving gross proceeds in excess of $25,000,000, use its reasonable efforts
to make available senior executives of the Company to participate in customary “road show” presentations that may be reasonably
requested by the Underwriter(s) in any Underwritten Offering; and

 

3.1.16 otherwise, in good faith,
cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating Holders, in connection
with such Registration.

 

3.2 Registration Expenses.
The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall
bear all incremental selling expenses relating to the resale of Registrable Securities, such as Underwriters’ commissions and discounts,
brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,” all
reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3 Requirements for Participation
in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of the Company pursuant to
a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities on the basis provided
in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney,
indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under the terms of
such underwriting arrangements.

 

3.4 Suspension of Sales;
Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement,
each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or
amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
or amendment as soon as reasonably practicable after the time of such notice), or until it is advised in writing by the Company that the
use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of
any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration
Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may,
upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such
Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by the Company
to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend,
immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection
with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period
during which it exercised its rights under this Section 3.4.

 

     

     

    

 

3.5 Reporting Obligations.
As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange
Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required
to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly
furnish the Holders with true and complete copies of all such filings. The Company further covenants that it shall take such further action
as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of the Common
Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated
under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal opinions. Upon
the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether
it has complied with such requirements.

 

ARTICLE IV 

 

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

4.1.1 The Company agrees to
indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors, agents and each person who
controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket expenses
(including, without limitation, reasonable attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact
contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission
or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except
insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use
therein. The Company shall indemnify the Underwriter(s), their officers and directors and each person who controls such Underwriter(s)
(within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the
Holder.

 

4.1.2 In connection with any
Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing
such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus
and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls the
Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and out-of-pocket expenses (including,
without limitation, reasonable attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration
Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or
omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided,
however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities,
and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by
such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall
indemnify the Underwriter(s), their officers, directors and each person who controls such Underwriter(s) (within the meaning of the Securities
Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3 Any person entitled
to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks
indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification
hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified
party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to
such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the
indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not
entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one
counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any
indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with
respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any
judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by
the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim
or litigation.

 

     

     

    

 

4.1.4 The indemnification provided
for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified
party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. The Company
and each Holder of Registrable Securities participating in an offering also agrees to make such provisions as are reasonably requested
by any indemnified party for contribution to such party in the event the Company’s or such Holder’s indemnification is unavailable
for any reason.

 

4.1.5 If the indemnification
provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party
in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying
the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages,
liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified
party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of
a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying
party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information
and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection
4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The
amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject
to the limitations set forth in subsections 4.1.1, 4.1.2, and 4.1.3 above, any legal or other fees, charges or expenses
reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just
and equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of
allocation, which does not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant
to this subsection 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

ARTICLE V 

 

MISCELLANEOUS

 

5.1 Notices. Any notice
or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to
be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service
providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail, telecopy, telegram or facsimile. Each notice
or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent,
and received, in the case of mailed notices, on the third Business Day following the date on which it is mailed and, in the case of notices
delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the
addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation.
Any notice or communication under this Agreement must be addressed, if to the Company, to: Revelstone Capital Acquisition Corp., 14350
Myford Road, Irvine, CA 92606, Attention: Daniel Neukomm or Morgan Callagy, co-Chief Executive Officer, and, if to any Holder, at such
Holder’s address or facsimile number as set forth in the Company’s books and records. Any party may change its address for
notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) calendar days after delivery of such notice as provided in this Section 5.1.

 

     

     

    

 

5.2 Assignment; No Third
Party Beneficiaries.

 

5.2.1 This Agreement and the
rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

 

5.2.2 Prior to the expiration
of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign or delegate such
Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable
Securities by such Holder to a Permitted Transferee.

 

5.2.3 This Agreement and the
provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns
of the Holders, which shall include Permitted Transferees.

 

5.2.4 This Agreement shall not
confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section
5.2 hereof.

 

5.2.5 No assignment by any party
hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the
Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement
of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may
be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in
this Section 5.2 shall be null and void.

 

5.3 Counterparts. This
Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original,
and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4 Governing Law; Venue.
NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO
AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION.

 

5.5 Amendments and Modifications.
Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities (which majority
interest must include a majority in interest of the Roth Parties if such amendment or modification affects in any way the rights of the
Roth Parties hereunder) at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement
may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding
the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares
of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the
consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or
delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any
rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party
shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

5.6 Other Registration
Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities, has any right to require
the Company to register the offer, sale or resale of any securities of the Company for sale or to include such securities of the Company
in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person. Further,
the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms
and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement
shall prevail.

 

5.7 Term. This Agreement
shall terminate with respect to any Holder on the date that such Holder no longer holds any Registrable Securities. The provisions of
Section 3.5 and Article IV shall survive any termination.

 

     

     

    

 

[SIGNATURE PAGES FOLLOW]

 

     

     

    

 

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

 

	 	COMPANY:
	 	 
	 	REVELSTONE CAPITAL ACQUISITION CORP., 
 a Delaware corporation
	 	 	 
	 	By:	/s/ Daniel Neukomm
	 	 	Name: Daniel Neukomm
	 	 	Title: Chief Executive Officer  
	 	 
	 	HOLDERS:
	 	 
	 	REVELSTONE CAPITAL, LLC,

 a Delaware limited liability company
	 	 	 
	 	By:	/s/ Morgan Callagy
	 	 	Name: Morgan Callagy
	 	 	Title: Managing Member

 

	 	ROTH CAPITAL PARTNERS, LLC:
	 	 
	 	By:	 /s/ Aaron M. Gurewitz
	 	 	Name: Aaron M. Gurewitz
	 	 	Title: Head of Equity Capital Markets

 

     

     

    

 

	 	By:	 /s/ Morgan Callagy
	 	 	Name: Morgan Callagy
	 	 
	 	By: 	/s/ Daniel Neukomm
	 	 	Name: Daniel Neukomm
	 	 
	 	By:	 /s/ Margaret McDonald
	 	 	Name: Margaret McDonald
	 	 
	 	By: 	/s/ Jeff Rosenthal
	 	 	Name: Jeff Rosenthal
	 	 
	 	By:	 /s/ Jason White
	 	 	Name: Jason White
	 	 
	 	By: 	/s/ Rich Brown
	 	 	Name: Rich Brown
	 	 
	 	 	LA JOLLA GROUP, INC.
	 	 	 
	 	By: 	/s/ Michael Pratt
	 	 	Name: Michael Pratt
	 	 	Title: Chief Financial Officer
	 	 
	 	By: 	/s/ Assia Grazioli Venier
	 	 	Name: Assia Grazioli Venier
	 	 
	 	By: 	/s/ Jonathan Goodwin
	 	 	Name: Jonathan Goodwin
	 	 
	 	By:	 /s/ Nate Bosshard
	 	 	Name: Nate Bosshard
	 	 
	 	By: 	/s/ Richard Anthony
	 	 	Name: Richard Anthony
	 	 
	 	 	HDM3 INVESTMENTS, LLC
	 	 	 
	 	By: 	/s/ Dan Nguyen
	 	 	Name: Dan Nguyen
	 	 	Title: Member
	 	 
	 	 	POIEMA TRUST NO. 1
	 	 	 
	 	By: 	/s/ Giancarlo Maniaci
	 	 	Name: Giancarlo Maniaci
	 	 	Title: Trustee
	 	 
	 	 	ANTONIO FAMILY TRUST DATED AUGUST 22, 2017
	 	 	 
	 	By: 	/s/ Alfred Antonio
	 	 	Name: Alfred Antonio
	 	 	Title: Trustee
	 	 
	 	By: 	/s/ Ray Zadjmool
	 	 	Name: Ray Zadjmool

 

     

     

    

 

	 	 	TIMOTHY JAMES LEASON SEPARATE PROPERTY LIVING TRUST
	 	 
	 	By: 	/s/ T.J. Leason
	 	 	Name: T.J. Leason
	 	 	Title: Trustee
	 	 
	 	ANCHOR INVESTORS:
	 	 
	 	Antara Capital Total Return SPAC Master
    Fund LP
	 	 
	 	By:	 /s/ Lance Kravitz
	 	 	Name: Lance Kravitz
	 	 	Title: COO/CFO
	 	 
	 	ATALAYA SPECIAL PURPOSE INVESTMENT
    FUND II LP
	 	ACM ALAMEDA SPECIAL PURPOSE INVESTMENT
    FUND II LP
	 	ACM ASOF VII (CAYMAN) HOLDCO LP
	 	ACM ALAMOSA (CAYMAN) HOLDCO LP
	 	 
	 	By: 	/s/ Ivan Zinn
	 	 	Name: Ivan Zinn
	 	 	Title: Authorized Signatory
	 	 
	 	CORBIN ERISA OPPORTUNITY FUND, LTD.
	 	 
	 	By: Corbin Capital Partners, L.P.,
    its Investment Manager
	 	 
	 	By:	 /s/ Cesar Bello
	 	 	Name: Cesar Bello
	 	 	Title: Deal Counsel
	 	 
	 	CAAS CAPITAL MASTER FUND LP
	 	 
	 	By: 	/s/ Jane Korach
	 	 	Name: Jane Korach
	 	 	Title: General Counsel
	 	 
	 	CNH PARTNERS, LLC, IN ITS CAPACITY
    AS INVESTMENT ADVISER FOR INVESTOR:
	 	CNH Master Account, L.P.
	 	 
	 	AQR CAPITAL MANAGEMENT, LLC,
    IN ITS CAPACITY AS INVESTMENT ADVISER FOR INVESTORS:
	 	AQR Corporate Arbitrage Master Account,
    L.P.
	 	AQR Absolute Return Master Account,
    L.P.
	 	AQR Tax Advantaged Absolute Return
    Fund, L.P.
	 	AQR Global Alternative Investment
    Offshore Fund, L.P.
	 	AQR Tax Aware Legacy Fund, LLC
	 	AQR DELTA Master Account, L.P.
	 	AQR Global Alternative Premia Master
    Account, L.P.
	 	AQR Innovation - Series 14 Tactical
    Risk Premia Fund
	 	 
	 	By: 	/s/ Bethany Oleynick
	 	 	Name: Bethany Oleynick
	 	 	Title: Managing Director & Authorized Signatory
	 	 

     

     

    

 

	 	CROSSINGBRIDGE LOW DURATION HIGH YIELD
    FUND
	 	 
	 	By:	 /s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	CROSSINGBRIDGE PRE-MERGER SPAC ETF
	 	 
	 	By:	 /s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	DESTINATIONS GLOBAL FIXED INCOME OPPORTUNITIES
    FUND
	 	 
	 	By: 	/s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	DESTINATIONS LOW DURATION FIXED INCOME
    FUND
	 	 
	 	By: 	/s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	RIVERPARK STRATEGIC INCOME FUND
	 	 
	 	By: 	/s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	OLSONUBBEN, LLC
	 	 
	 	By:	 /s/ David K. Sherman
	 	 	Name: David K. Sherman
	 	 	Title: Authorized Agent as Investment Adviser
	 	 
	 	GOVERNORS LANE MASTER FUND LP, by
    its general partner, GOVERNORS LANE FUND GENERAL PARTNER LLC
	 	 
	 	By: 	/s/ Olivia Maginley
	 	 	Name: Olivia Maginley
	 	 	Title: Authorized Signatory
	 	 
	 	METEORA CAPITAL PARTNERS, LP
	 	 
	 	By: 	/s/ Joseph Tonnos
	 	 	Name: Joseph Tonnos
	 	 	Title: Associate PM & Principal
	 	 
	 	METEORA SPECIAL OPPORTUNITY FUND I,
    LP
	 	 
	 	By:	 /s/ Joseph Tonnos
	 	 	Name: Joseph Tonnos
	 	 	Title: Associate PM & Principal
	 	 
	 	Polygon Global Equities Master Fund
	 	 
	 	By: 	/s/ Mark Gwynne
	 	 	Name: Mark Gwynne
	 	 	Title: Portfolio Manager
	 	 

     

     

    

 

	 	RADCLIFFE SPAC MASTER FUND, L.P.
	 	 
	 	By:	 Radcliffe Capital Management, L.P., its manager
	 	By: 	RGC Management Company, LLC, its general partner
	 	 	 
	 	By:	 /s/ Steven Katznelson
	 	 	Name: Steven Katznelson
	 	 	Title: Managing Member
	 	 
	 	RiverNorth SPAC Arbitrage Fund, LP
	 	 
	 	By:	 /s/ Marcus L. Collins
	 	 	Name: Marcus L. Collins
	 	 	Title: 	General Counsel of the Managing Member of the General Partner of the Fund
	 	 
	 	SCMD Anchor Acquisition, Ltd.
	 	 
	 	By:	 /s/ Wayne Cohen
	 	 	Name: Wayne Cohen
	 	 	Title: Secretary
	 	 
	 	SCEN Anchor Acquisition, Ltd.
	 	 
	 	By:	 /s/ Wayne Cohen
	 	 	Name: Wayne Cohen
	 	 	Title: Secretary
	 	 
	 	SCCO Anchor Acquisition, Ltd.
	 	 
	 	By:	 /s/ Wayne Cohen
	 	 	Name: Wayne Cohen
	 	 	Title: Secretary
	 	 
	 	Sculptor SC II, LP
	 	 
	 	By:	 Sculptor Capital II LP, its investment manager
	 	By: 	Sculptor Capital Holding II LLC, its General Partner
	 	By: 	Sculptor Capital LP, its member
	 	By: 	Sculptor Capital Holding Corporation, its General Partner
	 	 	 
	 	By: 	/s/ Wayne Cohen
	 	 	Name: Wayne Cohen
	 	 	Title: President and Chief Operating Officer
	 	 
	 	SPACE SUMMIT OPPORTUNITY FUND I LP
	 	 
	 	By:	 /s/ Keith Fleischmann
	 	 	Name: Keith Fleischmann
	 	 	Title: Managing Member
	 	 
	 	TENOR OPPORTUNITY MASTER FUND, LTD.
	 	 
	 	By:	 /s/ Daniel Kochav
	 	 	Name: Daniel Kochav
	 	 	Title: Director
	 	 
	 	Sandia Investment Management LP
	 	 
	 	By: 	/s/ Thomas J. Cagna
	 	 	Name: Thomas J. Cagna
	 	 	Title: COO, CFO + CCO

 

     

     

    

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

Exhibit A

 

	ANCHOR INVESTOR ENTITY	 	Founder Shares	 
	CNH Master Account, L.P. 	 	 	3,615	 
	AQR Corporate Arbitrage Master Account, L.P. 	 	 	29,367	 
	AQR Absolute Return Master Account, L.P. 	 	 	18,768	 
	AQR Tax Advantaged Absolute Return Fund, L.P. 	 	 	955	 
	AQR Global Alternative Investment Offshore Fund, L.P. 	 	 	39,994	 
	AQR Tax Aware Legacy Fund, LLC 	 	 	198	 
	AQR DELTA Master Account, L.P. 	 	 	5,198	 
	AQR Global Alternative Premia Master Account, L.P. 	 	 	2,905	 
	AQR Innovation - Series 14 Tactical Risk Premia Fund 	 	 	250	 
	CaaS Capital Master Fund LP 	 	 	101,250	 
	Meteora Capital Partners, LP 	 	 	50,625	 
	Glazer Special Opportunity Fund I, LP 	 	 	50,625	 
	SCMD Anchor Acquisition, Ltd. 	 	 	32,906	 
	SCEN Anchor Acquisition, Ltd. 	 	 	10,125	 
	SCCO Anchor Acquisition, Ltd. 	 	 	10,125	 
	Sculptor SC II, LP 	 	 	48,094	 
	Tenor Opportunity Master Fund, Ltd. 	 	 	101,250	 
	Atom Master Fund L.P. 	 	 	4,219	 
	Boothbay Absolute Return Strategies, LP 	 	 	12,656	 
	Boothbay Diversified Alpha Master Fund LP 	 	 	6,328	 
	Sandia Crest LP 	 	 	17,226	 
	Walleye Opportunities Master Fund Ltd 	 	 	10,547	 
	Walleye Investments Fund LLC 	 	 	5,274	 
	Atalaya Special Purpose Investment Fund II LP 	 	 	7,509	 
	ACM Alameda Special Purpose Investment Fund II LP 	 	 	6,609	 
	ACM ASOF VII (Cayman)Holdco LP 	 	 	10,536	 
	ACM Alamosa (Cayman) Holdco LP 	 	 	21,060	 
	Corbin ERISA Opportunity Fund, Ltd. 	 	 	10,536	 
	CrossingBridge Low Duration High Yield Fund 	 	 	10,125	 
	CrossingBridge Pre-Merger SPAC ETF 	 	 	6,000	 
	Destinations Global Fixed Income Opportunities Fund 	 	 	10,650	 
	Destinations Low Duration Fixed Income Fund 	 	 	12,300	 
	RiverPark Strategic Income Fund 	 	 	5,925	 
	OlsonUbben LLC 	 	 	11,250	 
	Polygon Global Equities Master Fund 	 	 	56,250	 
	RiverNorth SPAC Arbitrage Fund, LP 	 	 	56,250	 
	Antara Capital Total Return SPAC Master Fund LP 	 	 	84,375	 
	Space Summit Opportunity Fund LP 	 	 	84,375	 
	RADCLIFFE SPAC MASTER FUND, L.P. 	 	 	84,375	 
	Governors Lane Master Fund LP 	 	 	84,375Exhibit 10.2

 

December 16, 2021

 

Revelstone Capital Acquisition Corp

14350 Myford Road 

Irvine, CA 92606

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and among Revelstone Capital Acquisition Corp., a Delaware corporation (the “Company”), and BofA
Securities, Inc. and Roth Capital Partners., as representatives (“the Representatives”) of the several underwriters
(the “Underwriters”) named therein, relating to an underwritten initial public offering (the “Public Offering”)
of 15,000,000 of the Company’s units (including up to 2,250,000 units that may be purchased to cover over-allotments, if any) (the
 “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share
(the “Common Stock”), and one-half of one redeemable warrant. Each whole Warrant (each, a “Warrant”)
entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units will
be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”), and the Company has applied
to have the Units listed on the Nasdaq Global Market. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company and the
Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, REVELSTONE CAPITAL, LLC (the “Sponsor”), each of the
undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each, an “Insider”
and collectively, the “Insiders”) and each of the undersigned affiliates of Roth Capital Partners, LLC (each, a “Roth
Affiliate” and collectively, the “Roth Affiliates,” who are collectively purchasing a total of 210,027 Founder
Shares (of which 18,343 are subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised)
and 750,000 Private Placement Warrants prior to or simultaneously with the closing of the Public Offering (as defined below)), hereby
severally (and not jointly and severally) agrees with the Company as follows:

 

1. The Sponsor,
each Insider and each Roth Affiliate agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in
connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or
her in favor of any proposed Business Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in connection
with such stockholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the
Sponsor, each Insider and each Roth Affiliate agrees that it, he or she will not sell or tender any shares of Capital Stock owned by it,
him or her in connection therewith.

 

2. The
Sponsor, each Insider and each Roth Affiliate hereby agrees that in the event that the Company fails to consummate a Business
Combination within 18 months from the closing of the Public Offering, or such later period approved by the Company’s
stockholders in accordance with the Company’s amended and restated certificate of incorporation (the
 “Charter”), the Sponsor, each Insider and each Roth Affiliate shall take all reasonable steps to cause the
Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not
more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Common Stock sold as part of
the Units in the Public Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account, including interest (less up to $100,000 of interest to pay dissolution
expenses and which interest shall be net of taxes payable), divided by the number of then issued and outstanding Offering Shares,
which redemption will completely extinguish all Public Stockholders’ rights as stockholders (including the right to receive
further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors,
dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of
creditors and other requirements of applicable law. the Sponsor, each Insider and each Roth Affiliate agree to not propose any
amendment to the Charter that would modify the substance or timing of the Company’s obligation to redeem 100% of the Offering
Shares if the Company does not complete a Business Combination within 18 months from the closing of the Public Offering, or with
respect to any other material provisions relating to stockholders’ rights or pre-initial business combination activity, unless
the Company provides its Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such
amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding Offering Shares.

 

     

     

    

 

The Sponsor, each
Insider and each Roth Affiliate acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies
held in the Trust Account as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The
Sponsor, each Insider and each Roth Affiliate hereby further waives, with respect to any shares of Common Stock held by it, him or her,
if any, any redemption rights it, he or she may have in connection with (x) the consummation of a Business Combination, including,
without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination or in the context
of a tender offer made by the Company to purchase shares of Common Stock and (y) a stockholder vote to approve an amendment to the
Charter (i) to modify the substance or timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company
does not complete a Business Combination within 18 months of the closing of the Public Offering or (ii) with respect to any other
provision relating to stockholders’ rights or pre-initial business combination activity (although the Sponsor, the Insiders and
their respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold
if the Company fails to consummate a Business Combination within 18 months from the closing of the Public Offering ).

 

3. Notwithstanding
the provisions set forth in paragraphs 7(a) and (b) below, during the period commencing on the effective date of the Underwriting
Agreement and ending 180 days after such date, the Sponsor, each Insider and each Roth Affiliate shall not, without the prior written
consent of the Representatives, offer, sell, contract to sell, pledge or otherwise dispose of (or enter into any transaction that is designed
to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due
to cash settlement or otherwise)), directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease
a call equivalent position within the meaning of Section 16 (“Section 16”) of the Securities Exchange Act
of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to, any Units, shares of
Capital Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock, or publicly announce
an intention to effect any such transaction; provided, however, that the foregoing does not apply to the forfeiture of any
Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or future independent director of the Company
(as long as such current or future independent director transferee is subject to this Letter Agreement or executes an agreement substantially
identical to the terms of this Letter Agreement, as applicable to directors and officers at the time of such transfer; and as long as,
to the extent any Section 16 reporting obligation is triggered as a result of such transfer, any related Section 16 filing includes
a practical explanation as to the nature of the transfer). The provisions of this paragraph will not apply if the release or waiver is
effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described
in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

4. In the
event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss,
liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to
which the Company may become subject as a result of any claim by (i) any third party for services rendered (other than the
Company’s independent registered public accountants) or products sold to the Company or (ii) a prospective target
business with which the Company has discussed entering into a transaction agreement (a “Target”); provided, however,
that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a
third party for services rendered (other than the Company’s independent registered public accountants) or products sold to the
Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.10 per Offering Share or
(ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account due
to reductions in the value of the trust assets, in each case, net of the amount of interest earned on the property in the Trust
Account which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to
seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against certain
liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver is
deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability for such
third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably
satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies
the Company in writing that it shall undertake such defense. For the avoidance of doubt, none of the Company’s officers or
directors will indemnify the Company for claims by third parties, including, without limitation, claims by vendors and prospective
target businesses.

 

     

     

    

 

5. To the extent
that the Underwriters do not exercise their over-allotment option to purchase up to an additional 2,250,000 Units within 45 days from
the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder
Shares in the aggregate equal to the product of 562,500 multiplied by a fraction, (i) the numerator of which is 2,250,000 minus the
number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which
is 2,250,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters
so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock
after the Public Offering. To the extent that the size of the Public Offering is increased or decreased, the Company will effect a capitalization
or share repurchase, redemption or stock split or other appropriate mechanism, as applicable, immediately prior to the consummation of
the Public Offering in such amount as to maintain the ownership of the Capital Stock of the Initial Stockholders prior to the Public Offering
at 20.0% of the Company’s issued and outstanding Capital Stock upon the consummation of the Public Offering. In connection with
such increase or decrease in the size of the Public Offering, (A) references to 2,250,000 in the numerator and denominator of the
formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of shares included in the Units
issued in the Public Offering and (B) the reference to 562,500 in the formula set forth in the immediately preceding sentence shall
be adjusted to such number of Founder Shares that the Sponsor would have to return to the Company in order to hold (with all of the Initial
Stockholders) an aggregate of 20.0% of the Company’s issued and outstanding Capital Stock after the Public Offering.

 

6. The Sponsor,
each Insider and each Roth Affiliate hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably
injured in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b),
and 9, as applicable, of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the
non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity,
in the event of such breach.

 

7.
(a) The Sponsor, each Insider and each Roth Affiliate agree that it, he or she shall not Transfer (as defined below) any
Founder Shares (or shares of Common Stock issuable upon conversion thereof) until the earlier of (A) one year after the
completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the
closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150
days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation,
merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders
having the right to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares
Lock-up Period”).

 

     

     

    

 

(b) The Sponsor,
each Insider and each Roth Affiliate agree that it, he or she shall not Transfer any Private Placement Warrants (or shares of Common Stock
issued or issuable upon the exercise of the Private Placement Warrants) until 30 days after the completion of a Business Combination (the
 “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”).

 

(c) Notwithstanding
the provisions set forth in paragraphs 3 and 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares
of Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares and that are
held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to
the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, the Sponsor,
any members of the Sponsor, or any affiliates of the Sponsor; (b) in the case of an individual, transfers by gift to a member of
the individual’s immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family or
an affiliate of such person, or to a charitable organization; (c) in the case of an individual, transfers by virtue of laws of descent
and distribution upon death of the individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations
order; (e) by private sales or transfers made in connection with the consummation of a Business Combination at prices no greater
than the price at which the securities were originally purchased; (f) in the event of the Company’s liquidation prior to the
completion of an initial Business Combination; (g) in the case of an entity, by virtue of the laws of its jurisdiction or its organizational
documents or operating agreement; or (h) in the event of the Company’s completion of a liquidation, merger, stock exchange,
reorganization or other similar transaction which results in all of the Company’s public stockholders having the right to exchange
their shares of Common Stock for cash, securities or other property subsequent to the completion of the initial Business Combination;
provided, however, that, in the case of clauses (a) through (e), these permitted transferees must enter into a written
agreement with the Company agreeing to be bound by the transfer restrictions herein.

 

8. The Sponsor,
each Insider and each Roth Affiliate represent and warrant that it, he or she has never been suspended or expelled from membership in
any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or
revoked. Each Insider’s biographical information furnished to the Company (including any such information included in the Prospectus)
is true and accurate in all respects and does not omit any material information with respect to the Insider’s background. Each Insider’s
questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents and warrants that: he or she is not
subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any jurisdiction; he or she has never been convicted of, or pleaded
guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person,
or (iii) pertaining to any dealings in any securities and he or she is not currently a defendant in any such criminal proceeding.

 

9. Except as disclosed
in, or as expressly contemplated by, the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider,
nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies
in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate
the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

 

     

     

    

 

10. The Sponsor,
each Insider and each Roth Affiliate has full right and power, without violating any agreement to which it, he or she is bound (including,
without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter
Agreement and, as applicable, to serve as an officer and/or a director on the board of directors of the Company and hereby consents to
being named in the Prospectus as an officer and/or a director of the Company.

 

11. As used herein,
(i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall
mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares” shall mean the 3,750,000 shares
of the Company’s Class B common stock, par value $0.0001 per share, (or 4,312,500 shares if the over-allotment option is not
exercised by the Underwriters) initially held by the Sponsor; (iv) “Initial Stockholders” shall mean the Sponsor
and any other holder of Founder Shares immediately prior to the Public Offering; (v) “Private Placement Warrants”
shall mean the warrants to purchase up to 5,800,000 shares of Common Stock (or 6,475,000 shares of Common Stock if the over-allotment
option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $5,800,000 in the aggregate (or
$6,475.000 if the over-allotment option is exercised in full), or $1.00 per warrant, in a private placement that shall occur simultaneously
with the consummation of the Public Offering; (vi) “Public Stockholders” shall mean the holders of securities
issued in the Public Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of the net
proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited; and (viii) “Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option
to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent
position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 with respect to
any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b).

 

12. This Letter
Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in
any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified
or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by (1) each
Insider that is the subject of any such change, amendment, modification or waiver and (2) the Sponsor.

 

13. Except as otherwise
provided herein, no party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without
the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on
the Sponsor, each Insider and each Roth Affiliate and their respective successors, heirs and assigns and permitted transferees.

 

14. Nothing in this
Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the parties hereto any right, remedy or
claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants,
conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the
parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

15. This Letter
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.

 

     

     

    

 

16. This Letter
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 Letter 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 Letter Agreement a provision as similar in terms
to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

17. This Letter
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
(i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

18. Each party hereto
shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party to this Letter Agreement
(including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable or responsible for
the obligations of another party, including, without limitation, indemnification obligations and notice obligations.

 

19. Any notice,
consent or request to be given in connection with any of the terms or provisions of this Letter 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 or facsimile
or other electronic transmission.

 

20. This Letter
Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated
and closed by December 31, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation
for a period of six years.

 

21. Each Roth Affiliate
hereby agrees and acknowledges that the Founder Shares and Private Placement Warrants owned or acquired by the Roth Affiliates are deemed
underwriting compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the
Public Offering pursuant to FINRA Rule 5110(e)(1). Additionally, in accordance with FINRA Rule 5110(g)(8), the Founder Shares
and Private Placement Warrants held by the Roth Affiliates may not be converted or exercised, as applicable, after five years from the
commencement of sales in this offering. Additionally, the Roth affiliates shall only be entitled to make one demand for registration,
excluding short form registration demands, which demand may not be exercised after five years from the commencement of sales of the Public
Offering. To the extent the Roth Affiliates are entitled to piggyback registration rights, such rights may not be exercised more than
seven years from the commencement of sales of the Public Offering.

 

[Signature Page Follows]

 

     

     

    

 

	 	Sincerely,
	 	 
	 	REVELSTONE CAPITAL, LLC
	 	 
	 	By:	/s/ Morgan Callagy
	 	 	Name: Morgan Callagy
	 	 	Title: Managing Member

 

[Sponsor Signature Page to Letter Agreement]

 

     

     

    

 

	By:	 /s/ Morgan Callagy	 
	Name:	 Morgan Callagy	 
	 	 
	By: 	/s/ Daniel Neukomm	 
	Name: 	Daniel Neukomm	 
	 	 
	By: 	/s/ Jason White	 
	Name:	 Jason White	 
	 	 
	By: 	/s/ Margaret McDonald	 
	Name: 	Margaret McDonald	 
	 	 
	By: 	/s/ Jeff Rosenthal	 
	Name: 	Jeff Rosenthal	 

 

[Insider Signature Page to Letter Agreement] 

 

     

     

    

 

	 	ROTH Capital Partners, LLC:
	 	 	 
	 	By:	/s/ Aaron M. Gurewitz
	 	 	Name:	 Aaron M. Gurewitz
	 	 	Title:	Head of Equity Capital Markets

 

[Roth Signature Page to
Letter Agreement]

 

     

     

    

 

Acknowledged and Agreed:

 

	REVELSTONE CAPITAL ACQUISITION CORP.	 
	 	 
	By:	/s/ Morgan Callagy	 
	 	Name: Morgan Callagy	 
	 	Title: Co-Chief Executive Officer 	 

 

[Company Signature Page to Letter Agreement]

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