Document:

Exhibit 10.1

 

 _________________, 2021

 

Alpine
Acquisition Corporation

10141
N. Canyon View Lane

Fountain
Hills, Arizona 85268

 

Maxim
Group LLC

405
Lexington Avenue, 2nd Floor

New
York, NY 10174

 

	 	Re:	Initial
    Public Offering

 

Ladies
and Gentlemen:

 

This
letter (“Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) entered into by and between Alpine Acquisition Corporation, a Delaware corporation (the “Company”),
and Maxim Group LLC as representative (the “Representative”) of the several underwriters named in Schedule
I thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each Unit comprised of one share of common stock, par value $0.0001
(the “Common Stock”), and one-half of one warrant, each whole warrant exercisable for one share of Common Stock
(each, a “Warrant”). Certain capitalized terms used herein are defined in paragraph 12 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition
of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned hereby agrees, severally but not jointly, with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Common Stock
beneficially owned by him, her, or it, whether acquired before, in, or after the IPO, in favor of such Business Combination.

 

2.
(a) In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the “Certificate of Incorporation”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except for
the purpose of winding up, (ii) not more than ten (10) business days thereafter, redeem the IPO shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned funds held in the Trust Account
(less up to $100,000 to pay liquidation expenses and net of interest released to the Company to pay taxes as permitted pursuant to the
Trust Agreement), divided by the number of then outstanding IPO Shares, which redemption will extinguish public stockholders’ rights
as stockholders (including the right to receive further liquidation distributions, if any), and (iii) 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 the case of clauses (ii) and (iii) to the Company’s obligations under Delaware law to provide for claims of creditors and other
requirements of applicable law.

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account
(“Claim”) with respect to the Founders’ Shares owned by the undersigned and hereby waives any Claim the
undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company and will not seek
recourse against the Trust Account for any reason whatsoever. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Warrants, all rights of which will terminate on the Company’s liquidation.

 

[(c)
In the event of the liquidation of the Trust Account, the undersigned agrees to indemnify and hold harmless the Company for any debts
and obligations to target businesses or vendors or other entities that are owed money by the Company for services rendered or contracted
for or products sold to the Company, but only to the extent necessary to ensure that such debt or obligation does not reduce the amount
of funds in the Trust Account below $10.20 per share; provided that such indemnity shall not apply (i) if such vendor or prospective
target business executed an agreement waiving any right, title, interest or claim of any kind they may have in or to any monies held
in the Trust Account, or (ii) as to any claims under the Company’s obligation to indemnify the Underwriters against certain liabilities,
including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).]1

 

 

 

		1	For sponsor letter only.

 

     

     

    

 

3.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm, or another independent entity
that commonly renders valuation opinions, that such Business Combination is fair to the Company’s unaffiliated stockholders from
a financial point of view.

 

4.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation, finder
fee or other cash payment prior to, or for services rendered in order to effectuate, the consummation of the Business Combination; provided
that the Company shall be allowed to make the payments set forth in the Registration Statement under the caption “Prospectus Summary
– The Offering – Limited payments to insiders.”

 

5.
The undersigned agrees that until after the Company consummates a Business Combination, all Private Securities owned by him/her/it will
be subject to the transfer restrictions described in the Subscription Agreement relating to the undersigned’s Private Securities.

 

6.
(a) In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby
agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the
Company for its consideration, prior to presentation to any other entity, any suitable target business, subject to any fiduciary or contractual
obligations the undersigned might have.

 

(b)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in the event
of a breach of any of the obligations contained in 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.
The undersigned’s biographical information previously furnished to the Company and the Representative is true and accurate in all
respects, does not omit any material information with respect to the undersigned’s background and contains all of the information
required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act. The undersigned’s FINRA
Questionnaire previously furnished to the Company and the Representative is true and accurate in all respects. The undersigned represents
and warrants that:2

 

	 	(a)	he/she
    has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her or any
    partnership in which he/she was a general partner at or within two years before the time of filing; or (ii) any corporation or business
    association of which he/she was an executive officer at or within two years before the time of such filing;

 

	 	(b)	he/she
    has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her business or property, or any such
    partnership;

 

	 	(c)	he/she has never
    been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	he/she
    has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
    and minor offenses);

 

 

 

		2	For officer, director, and promoter letter only.

 

    2

     

    

 

	 	(e)	he/she
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent
    jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her from (i) acting as a futures commission merchant,
    introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person
    regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the foregoing,
    or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any
    investment company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct or practice
    in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in any activity
    in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities
    or federal commodities laws;

 

	 	(f)	he/she
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state
    authority barring, suspending or otherwise limiting for more than 60 days his/her right to engage in any activity described in 9(e)(i)
    above, or to be associated with persons engaged in any such activity;

 

	 	(g)	he/she
    has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities
    law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

	 	(h)	he/she
    has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	he/she
    has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
    not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
    law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
    to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
    desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
    with any business entity;

 

	 	(j)	he/she
    has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
    organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
    over its members or persons associated with a member;

 

	 	(k)	he/she
    has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
    municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

	 	(l)	he/she
    was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an
    agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures Trading Commission;
    or the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
    or deceptive conduct;

 

	 	(m)	he/she
    has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale, restrained
    or enjoined him/her from engaging or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale
    of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business
    of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of securities;

 

    3

     

    

 

	 	(n)	he/she
    has never been subject to any order of the SEC that orders him/her to cease and desist from committing or causing a future violation
    of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section 17(a)(1) of
    the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers Act or any other
    rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

	 	(o)	he/she
    has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that was
    the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation
    or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	he/she
    has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
    order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device
    for obtaining money or property through the mail by means of false representations;

 

	 	(q)	he/she
    is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an
    agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures Trading Commission;
    or the National Credit Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission,
    authority, agency or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association
    or credit union activities;

 

	 	(r)	he/she
    is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934, as amended
    (the “Exchange Act”), or section 203(e) or 203(f) of the Investment Advisers Act of 1940, as amended (the
    “Advisers Act”), that: (i) suspends or revokes the undersigned’s registration as a broker, dealer,
    municipal securities dealer or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes
    civil money penalties on, such person; or (iii) bars the undersigned from being associated with any entity or from participating
    in the offering of any penny stock; and

 

	 	(s)	he/she
    has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities self-regulatory
    organization (e.g., a registered national securities exchange or a registered national or affiliated securities association) for
    any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

8.
The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this Letter
Agreement [and to serve as a director and/or officer of the Company].

 

9.
The undersigned hereby waives any right to exercise redemption rights with respect to any shares of Common Stock owned or to be owned
by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether such shares are Founders’
Shares or shares purchased by the undersigned in the IPO or in the aftermarket, and agrees not to seek redemption with respect to such
shares in connection with any vote to approve a Business Combination (or sell such shares to the Company in a tender offer in connection
with such a Business Combination).

 

10.
(a) The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company’s
Certificate of Incorporation prior to the consummation of a Business Combination unless the Company provides public stockholders
with the opportunity to redeem their shares of Common Stock for cash upon such approval in accordance with such Article.

 

    4

     

    

 

(b)
In the event that the Company is not able to consummate a Business Combination within 12 months and the Company’s sponsors
request that the Company extends the period of time to consummate a business combination up to two times, each by an additional
three-month period pursuant to the Company’s Certificate of Incorporation (each an “Extension”), for each
Extension the sponsor will, upon five days advance notice prior to the applicable deadline, deposit into the Trust Account an
aggregate of $1,000,000, or $1,150,000 if the underwriters’ over-allotment option is exercised in full ($0.10 per Unit in
either case) pursuant to the terms of the Trust Agreement. Any such payments will be made in the form of non-interest bearing loans.
If the Company completes its initial Business Combination, the Company will, at the option of the lender, repay such loaned amounts
out of the proceeds of the Trust Account released to the Company or convert a portion or all of the total loan amount into warrants
at a price of $1.00 per warrant, which warrants will be identical to the Private Securities. If the Company does not complete a
Business Combination within the applicable period of time, the loans will not be repaid, and the sponsor waives its rights to be
repaid in such event. The sponsor is under no obligation to fund the Trust Account to extend the time for the Company to complete
its initial Business Combination.3

 

11.
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. Each of the
Company and the undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way
to this Letter Agreement (a “Proceeding”) shall be brought and enforced in the courts of the State of New York
of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

12.
As used herein, (i) a “Business Combination” means a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders”
means all officers, directors and sponsors of the Company immediately prior to the IPO; (iii) “Founders’ Shares”
means all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares”
means the shares of Common Stock issued in the Company’s IPO; (v) “Private Securities” means the Warrants
that are being sold privately by the Company simultaneously with the consummation of the IPO; (vi) “Trust Agreement”
means the Investment Management Trust Agreement between the Company and Continental Stock Transfer & Trust Company being entered
into in connection with the IPO and governing the use of funds held in the Trust Account; (vii) “Trust Account”
means the trust account into which a portion of the net proceeds of the IPO and sale of Private Securities will be deposited; and (viii)
“Registration Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-________)
filed with the Securities and Exchange Commission.

 

13.
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), except by a written instrument executed by all parties hereto.

 

14.
Each of the undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative
of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the subject
matter hereof.

 

 

[Signature
Page Follows]

 

 

 

		3	For
sponsor letter only.

 

    5

     

    

 

	 	[_____]
	 	Print Name of Insider
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Acknowledged and
    Agreed:
	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

 

[Insider
Letter Signature Page]

 

    6Exhibit
10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

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

 

WHEREAS,
the Company’s registration statement on Form S-1, File No. 333-_____ (“Registration Statement”) and prospectus
(“Prospectus”) for the initial public offering of the Company’s units (“Units”), each of
which consists of one share of common stock, par value $0.0001 per share (“Common Stock”) and one-half of one warrant
(“Warrant”), each whole Warrant entitling the holder to purchase one share of Common Stock (such initial public offering
referred to as the “IPO”) has been declared effective as of the date hereof (“Effective Date”)
by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth
in the Registration Statement);

 

WHEREAS,
the Company has entered into an Underwriting Agreement (“Underwriting Agreement”) with Maxim Group LLC as representative
(the “Representative”) of the several underwriters (“Underwriters”) named therein;

 

WHEREAS,
if a Business Combination (as defined herein) is not consummated within the initial 12 month period following the closing of the IPO,
the Company may extend such period by two extensions with each extension being three months for up to a maximum of 18 months in the aggregate,
subject to the Company’s sponsor or its affiliates or permitted designees depositing $1,000,000 (or $1,150,000 if the underwriters’
over-allotment option is exercised in full) into the Trust Account (defined below) no later than the 12 and 15 month anniversaries of
the IPO (each, an “Applicable Deadline”) for each three month extension (each, an “Extension”), in exchange for
which the sponsor will receive non-interest bearing, unsecured promissory notes for each Extension that will be repaid only if the Company
completes a Business Combination by the Applicable Deadline;

 

WHEREAS,
as described in the Prospectus, and in accordance with the Company’s Amended and Restated Certificate of Incorporation (“Certificate
of Incorporation”), $102,000,000 ($117,300,000 if the over-allotment option is exercised in full) of the proceeds from the
IPO and a simultaneous private placement of Warrants will be delivered to the Trustee to be deposited and held in a segregated trust
account located at all times in the United States (the “Trust Account”) for the benefit of the Company and the holders
of the shares of Common Stock included in the Units issued in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee
and any interest subsequently earned thereon will be referred to herein as the “Property”; the shareholders for whose
benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,” and the Public Stockholders
and the Company will be referred to together as the “Beneficiaries”);

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property equal to $3,500,000, or $4,025,000 if the Underwriters’ over-allotment
option is exercised in full, is attributable to deferred underwriting discounts and commissions that may be payable by the Company to
the Underwriters upon the consummation of the Business Combination (the “Deferred Discount”); and

 

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

 

IT
IS AGREED:

 

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

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(k)
Upon receipt of an extension letter (“Extension Letter”) substantially in the form of Exhibit D at least five
business days prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount
specified in the Extension Letter on or prior to the Applicable Deadline, follow the instructions set forth in the Extension Letter.

 

2. Limited
Distributions of Income from Trust Account.

 

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

 

    2

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(h)
Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in a form
substantially similar to that attached hereto as Exhibit A that the Deferred Discount be paid directly to the account or accounts
directed by the Representative on behalf of the Underwriters.

 

    3

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    4

     

    

 

6. Termination.
This Agreement shall terminate as follows:

 

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

 

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

 

7. Miscellaneous.

 

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

 

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

 

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

 

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

 

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

 

    5

     

    

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

Email:
fwolf@continentalstock.com

Email:
cgonzalez@continentalstock.com

 

if
to the Company, to:

 

Alpine
Acquisition Corporation

10141
N. Canyon View Lane

Fountain
Hills, Arizona 85268

Attn:

E-mail:

 

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

 

Maxim
Group LLC

405
Lexington Avenue, 2nd Floor

New
York, NY 10017

Attn:
John Shaw

E-mail:
jshaw@maximgrp.com

 

and

 

Graubard
Miller

The
Chrysler Building

405
Lexington Avenue

New
York, New York 10174

Attn:
David Alan Miller, Esq.

E-mail:
dmiller@graubard.com

 

and

 

Loeb
& Loeb LLP

345
Park Avenue

New
York, NY 10154

Attn:
Mitchell S. Nussbaum, Esq.

E-mail:
mnussbaum@loeb.com

 

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

 

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

 

(h)
Each of the Company and the Trustee hereby acknowledge that the Representative is a third party beneficiary of this Agreement.

 

 

[Signature
Page Follows]

 

    6

     

    

 

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

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title:	 
	 	 	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

 

[Signature
Page to IMTA]

 

    7

     

    

 

SCHEDULE
A

 

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

 

    Sch. A-1

     

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Alpine Acquisition Corporation (“Company”) and
Continental Stock Transfer & Trust Company, dated as of ______, 2021 (“Trust Agreement”), this is to advise you
that the Company has entered into an agreement with [__________________] to consummate a business combination (“Business Combination”)
on or about [insert date]. The Company shall notify you at least 48 hours in advance of the actual date of the consummation
of the Business Combination (“Consummation Date”). Capitalized terms used herein and not otherwise defined shall have
the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments and to transfer
the proceeds to the Trust Account at J.P. Morgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds held
in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation
Date (including as directed to it by the Representative on behalf of the Underwriters (with respect to the Deferred Discount)). It is
acknowledged and agreed that while the funds are on deposit in the trust account awaiting distribution, neither the Company nor the Underwriters
will earn any interest or dividends.

 

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

 

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

 

	 	Very truly
    yours,
	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

AGREED
TO AND ACKNOWLEDGED BY

 

	MAXIM GROUP
    LLC	 
	 	 	 	 
	By:	 	 
	 	Name: 	 	 
	 	Title:	 	 

 

    A-1

     

    

 

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

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

 

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

 

	 	Very truly
    yours,
	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

		cc:	Maxim
Group LLC

 

    B-1

     

    

 

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account Amendment Notification Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

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

 

Pursuant
to Section 1(j) of the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly, in accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust Account and to transfer $____
of the total proceeds of the Trust to the Trust Account at JPMorgan Chase Bank, N.A. to await distribution to the Public Stockholders
that have requested conversion of their shares in connection with such Amendment. The remaining funds shall be reinvested by you as previously
instructed.

 

	 	Very truly
    yours,
	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

		cc:	Maxim
Group LLC

 

    C-1

     

    

 

EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account - Extension Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Alpine Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company, dated as of ______, 2021 (“Trust Agreement”), this is to advise you that the Company
is extending the time available to consummate a Business Combination for an additional three (3) months, from _______ to _________ (the
“Extension”).

 

This
Extension Letter shall serve as the notice required with respect to Extension prior to the Applicable Deadline. Capitalized words used
herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to deposit $1,000,000 [(or $1,500,000 if the underwriters’
over-allotment option was exercised in full)], which will be wired to you, into the Trust Account investments upon receipt.

 

This
is the [first/second] of up to two Extension Letters.

 

	 	Very truly
    yours,
	 	 
	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

		cc:	Maxim
Group LLC

 

    D-1

     

    

 

EXHIBIT
E

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

		Re:	Trust
Account – Tax Withdrawal Instruction Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

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

 

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

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	ALPINE ACQUISITION
    CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

		cc:	Maxim
Group LLC

 

    E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}]]