Document:

EX-10.18

 Certain confidential portions (indicated by brackets and asterisks) have been omitted from this exhibit
because such information is both (i) non-material and (ii) would be competitively harmful if publicly disclosed. 
  

Exhibit 10.18 
 LETTER OF
INTENT 
 11 January 2021 
 Re:
Proposal for a Joint Venture to build, equip and operate data centers in [***], USA. 
 Gentlemen: 

This Letter Of Intent (the “LOI”) shall provide the basic terms and conditions to enter into joint venture with Bitfury Holding B.V., whose
registered office is located at Strawinskylaan 3051, 1077ZX Amsterdam, the Netherlands or its affiliate(s) or assignee(s) (“Bitfury”) with WindHQ LLC, whose registered office is located at 1212 New York Avenue, N.W., Suite 1000,
Washington, DC 20005, U.S.A. or its affiliate(s) or assignee(s) (“WindHQ”). This letter summarizes the basic terms on which the HWJV (as defined below) will be set up which would become the basis for the transaction to be executed.
This LOI is not legally binding unless explicitly stated otherwise. 
  

			
	Parties	  	WindHQ and Bitfury each a “Party” and together the “Parties”.
		
	Definitions	  	 Equipment means servers and data centers; the specification of which will be agreed by the Parties in the binding purchase
orders.
  
 Hardware means Equipment with total power capacity of
approximately 110-MegaWatts (“MW”) up to 500-MW.
  

Data Center(s) means one or more data center(s) located in [***], USA. The specific capacity and technical specifications of the Data
Centers are to be agreed by the Parties in good faith in due course.
  
 Net
Profit means the mined Bitcoins of the Data Center minus the electricity, maintenance, pool and remote service expenses.
  

Power means electrical power at a weighted average price of approximately [***] per MegaWatt hours (“MWh”) including
transmission, ancillary services to be supplied to the HWJVs by WindHQ or by its affiliate(s).

		
	Origination & Co-development:	  	 The Parties shall collaborate to identify and secure the locations, Power and the sites to set up and deploy the Data Center(s) according to
the following indicative schedule:
  
 •  110-MW in a twelve (12) months period after execution of this LOI;
  

•  210-MW in a twenty-four (24) months after execution
of this LOI;

  
 1 

			
		  	 •  340-MW in a thirty-six (36) months after execution of this LOI; and
  

•  500-MW in sixty (60) months after execution of this
LOI.

		
	HWJVs	  	The Parties will set up the Hardware in one or more joint ventures according to the legal structure provided in Appendix 2 (the “HWJVs”) where WindHQ will hold minimum 51% and Bitfury will hold maximum 49% of all
outstanding shares of the HWJVs based on the monetary capital contribution of the Parties.
		
		  	 WindHQ will contribute the capital in cash equivalent to its shareholding to sustain the initial capital expenditures and initial site
operating costs of the HWJVs (the “Capex Cost”).
  
 Bitfury will
contribute the capital in cash equivalent to its shareholding to sustain the initial capital expenditures and initial site operating costs of the HWJVs.

		
	Services and Power	  	 In order to set up and operate the HWJVs, the Parties will enter into one or more service or colocation agreements pursuant to which WindHQ
shall provide the use of the Data Center and shall make available a supply of electricity, while Bitfury shall provide the Bitfury Services (as defined below).
  

Bitfury or its affiliate(s) shall be exclusive suppliers of Pool Services (as defined below); Maintenance Services (as defined below) and Remote Services (as
defined below) with respect to the Hardware (the “Bitfury Services”). The list of Services to be provided in Appendix 3.

		
	Profit Share	  	 The Parties hereby agree that Bitfury and WindHQ or their affiliates shall enter into a Profit Share Agreement (the “PSA”)
under which they will share the Net Profits according to their shareholding in the particular HWJV.
  

		
	Anti-Dilution	  	Both Parties shall be entitled to make in kind or cash contribution to maintain their initial shareholding in the HWJV.
		
	Shareholder Agreement	  	The transaction contemplated by this LOI shall be subject to negotiation and execution of a Shareholder Agreement (the “SHA”), which shall identify the relationship of the Parties and provide the terms on decision
making, resolution of deadlocks, among other terms, to define the rights and relationship of the Parties. The SHA of the HJWV will also set out board composition and their competences as well as reserved
matters.

  
 2 

			
	Completion	  	The Parties aim to negotiate and execute definitive and legally binding agreements (including SHA, Bitfury and WindHQ services agreements and relevant power purchase agreements) according to the power supply schedule provided in the
Section Origination & Co-development and otherwise in all material respects in accordance with this LOI.
		
	Confidentiality	  	Unless required by law or regulation, no Party shall knowingly or intentionally disclose in a formal public manner the terms of this LOI or the transaction contemplated hereby, and each Party shall treat as confidential the
counterparty’s contributions and any information supplied by the other Party. This section is binding upon the Parties.
		
	Assignment	  	Neither Party shall be able to assign the LOI without the other Party’s prior written consent subject to any permitted assignments. The permitted assignment will include, inter alia, assignment or novation of the LOI by
Bitfury to any affiliate of Bitfury. This section is binding upon the Parties.

  
 3 

 BINDING TERMS 

Each Party shall bear its own costs, whether legal, administrative, notarial, travel-related, technical or other, related to the negotiation, preparation and
execution of this LOI, or otherwise connected with the negotiation, preparation and execution of the transaction. 
 The terms and conditions contained in
this LOI are strictly private and confidential. The Parties hereto shall maintain the strictest confidentiality concerning the transaction and transaction documents contemplated in this LOI, provided that the Parties shall be entitled to disclose
details of these terms and conditions and the proposed transaction to its employees, directors, shareholders, investors, lenders and advisers on a need-to-know basis. No
public statement shall be made without the prior written consent of the other Party unless required by law or regulation. 
 This LOI shall automatically
terminate upon the earlier of: (i) the execution of binding agreements between the Parties; or (ii) automatically upon 180 days following execution of this LOI. 

This LOI and any disputes or claims arising out of or in connection with it or its subject matter or formation are governed by and construed in accordance
with the laws of the state of New York. Any dispute, controversy or claim arising out of or relating to this LOI, or the breach, termination or invalidity hereof, shall be referred to and finally resolved by arbitration under the LCIA Rules, which
Rules are deemed incorporated by reference into this clause. The number of arbitrators shall be one. The seat, or legal place, of arbitration shall be New York. The language to be used in the arbitral proceedings shall be English. 

This LOI may be signed in counterparts, each of which shall be deemed an original and all such counterparts shall be deemed on and the same instrument.
Signatures to this LOI may be transmitted by facsimile or electronic transmission and shall be deemed to be as valid as an original if transmitted by facsimile or electronic transmission. 

Please confirm the above is acceptable to you by signing in the space provided below and returning a signed LOI to Bitfury. 

 

			
	Sincerely,
	
	Bitfury Holding BV
		
	By:	 	
                     

	Name:	 	Olegs Blinkovs
	Title:	 	Director
	
	WindHQ LLC
		
	By:	 	  

	Name:	 	Leandro Alves
	Title:	 	President

  
 4 

 Certain confidential portions (indicated by brackets and asterisks) have been omitted from this exhibit
because such information is both (i) non-material and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 1 – Indicative List of Sites 
  

									
	 Sites
	  	 Total Capacity (MW)
	  	Expected Power
Price
(USD/MWh)	 	Expected
Curtailment
(%/year)	 	County
	[***]	  	 Up to 40-MW
	  	[***]	 	15-25%	 	[***]
	[***]	  	 Up to 200-MW in incremental phases of 10-MW
	  	[***]	 	1%-2%	 	[***]
	[***]	  	 Up to 200-MW in incremental phases of 10-MW
	  	[***]	 	1%-2%	 	[***]

  
 5 

 Certain confidential portions (indicated by brackets and asterisks) have been omitted from this exhibit
because such information is both (i) non-material and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 2 – Legal Structure 

[***] 

  
 6 

 Appendix 3 – Services 

WINDHQ SERVICES: 
 Energy 

Procure and/or provided energy directly from WindHQ affiliates for Data Centers at the lowest possible price; design and executed mitigation measures to
electricity demand charges. Manage basis risk and pricing risk, by selecting locations that minimize such electricity costs and their related additives. Explore energy generation sources and energy storage that mitigate or by-pass the legacy costs associated with the electricity grid, and that may provide ancillary services. Invoke strategies that allow additional revenue or reduced cost associated with the electricity to the Data
Center(s) operations. 
 Site Tasks 
 Will
provide periodic maintenance to critical electrical and mechanical systems of the Hardware (excluding the server rooms). 
 For Projects with transmission
lines: 
  

	 	•	 	 Check farming and braces; 

 

	 	•	 	 Check Guy wires; 

  

	 	•	 	 Observe sag/tension; 

  

	 	•	 	 Check Ground Wires; 

  

	 	•	 	 Monitor Vegetation for mitigation/mow/cut. 

For Projects with substations: 
  

	 	•	 	 Walk around for cleanliness, and maintain vegetation control; 

 

	 	•	 	 Check/Pump Transformer Containment; 

 

	 	•	 	 Relays/Control Switches Normal; 

 

	 	•	 	 HMI Functioning; Log Book OK; 

 

	 	•	 	 Gate Locks Functional; 

 

	 	•	 	 Check MPT Oil Levels-Main Tank, Conservator, LTC; 

 

	 	•	 	 Check MPT Monitors (DGA and Bushing Monitor); 

 

	 	•	 	 Download Monitor Data (DGA and Bushing Monitor); Control Room-Cleanliness; and 

 

	 	•	 	 Perform periodic maintenance as deemed reasonable by industry standards. 

Collection System: 
  

	 	•	 	 Check each PMT for leaks; 

 

	 	•	 	 Check area for Vegetation eradication and maintain vegetation control; and 

 

	 	•	 	 Check Junction Boxes-Locks/Chain and Vegetation; and 

 

	 	•	 	 Perform periodic maintenance as deemed reasonable by industry standards. 

  
 7 

 Roads and Civil Works: 
  

	 	•	 	 Check Conditions-Vegetation/Drainage/Stabilization, and maintain vegetation control; 

 

	 	•	 	 Test Back-up Generator(s); 

 

	 	•	 	 Building Condition; 

  

	 	•	 	 Log Books; and 

Inspect Containment Area Status.Reporting Services 

Produce and maintain with periodic updates the “Facility Administration Plan”, including a proposed annual budget for current and subsequent
year(s). Report monthly site revenue and operating expense performance for prior month, monthly accounts payable and accounts receivable, financial account balances and cash flow summaries, YTD financial performance information, reporting of results
of any asset administrative issues. Monthly, Quarterly and Annually, prepare a summary level report that incorporates the reports of O&M Contractor and additionally shall include: Data Center Availability, Energy Consumption, Gross Revenue, Net
revenue, Expenses for Operation and Maintenance (O&M), Spare parts consumption, Spare parts procurement, Discussion of operational performance, Discussion of environmental issues, Discussion of Regulatory issues, Discussion of safety issues,
Discussion of landowner issues, Discussion of easement and/or ROW issues, and Monthly comparison a of actual vs. budgeted EBITDA. 
 BITFURY SERVICES:

 Remote Services 
 Remote Services shall
include services reasonably required to support and monitor the operations of the Hardware at the Data Center, including, but not limited to: 
  

	 	•	 	 Complete configuration of IT ROOM Hardware’s and pool connectivity; 

 

	 	•	 	 24x7 remote supervision and support of the Hardware and Data Center; 

 

	 	•	 	 Optimization of Data Center operations and servers’ performance; 

 

	 	•	 	 Software and patch updates, as required; 

 

	 	•	 	 Communication with local site maintenance team if they reasonably need assistance for manual intervention on
site; and 

  

	 	•	 	 Pool services connectivity. 

Pool Services 
 Pool Services shall include
transaction verification services. 
 Hardware Maintenance Services 

  
 8 

 Hardware Maintenance Services shall include daily maintenance of the Hardware pursuant to Bitfury’s
instructions and specifications including the below services.  
 Data Center Operational Services (“DCOPS”) 

 

	 	•	 	 Provision of DCOPS to ensure the Data Center meets standards of performance and uptime; 

 

	 	•	 	 An electronics repair team will be provided under DCOPS for server repairs down to component levels;

  

	 	•	 	 Tests during commissioning; and 

 

	 	•	 	 Depending on operational situation, DCOPS will staff the site accordingly. 

Facilities Management (“FM”) 
  

	 	•	 	 FM will provide periodic maintenance to critical electrical and mechanical systems of the Hardware in the server
rooms; 

  

	 	•	 	 FM will work under the same service level agreement as DCOPS; and 

 

	 	•	 	 FM will include all health, safety and environment matters for the Data Center, management of all personnel and
contractor access and egress from the site. 

  
 9Document

Exhibit 4.6

 slide1
 D E L AW A R E  SEAL ZI PR ECR UITER, INC.CO RPORATE June 29, 2010 ZRB FULLY PAID AND NONASSESSABLE SHARES OF CLASS B COMMON STOCK, $0.00001 PAR VALUE PER SHARE, OF ZipRecruiter, Inc. transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. Dated: This certifies that is the record holder of INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE C O U N T E R S IG N E D A N D R E G IS T E R E D : A M E R IC A N S TO C K TR A N S FE R & TR U S T C O M PA N Y, LLC (B R O O K LY N , N Y ) T R A N S F E R A G E N T A N D R E G IS T R A R B Y : A U T H O R IZ E D S IG N A T U R E CHIEF EXECUTIVE OFFICER SECRETARY CUSIP 98980B 20 2 SEE REVERSE FOR CERTAIN DEFINITIONS AND LEGENDS
 
slide2
The Corporation shall furnish without charge to each stockholder who so requests a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock of the Corporation or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Such requests shall be made to the Corporation’s Secretary at the principal office of the Corporation. KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, OR DESTROYED THE CORPORATION WILL REQUIRE A BOND INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: Additional abbreviations may also be used though not in the above list. TEN COM – as tenants in common TEN ENT – as tenants by the entireties JT TEN – as joint tenants with right of survivorship and not as tenants in common COM PROP – as community property UNIF GIFT MIN ACT – ......................... Custodian ......................... (Cust) (Minor) under Uniform Gifts to Minors Act.............................................................................. (State) UNIF TRF MIN ACT – ................. Custodian (until age ..................) (Cust) ..................................... under Uniform Transfers (Minor) to Minors Act............................................................ (State) FOR VALUE RECEIVED, _____________________________________________________ hereby sell(s), assign(s) and transfer(s) unto PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE shares of the capital stock represented by within Certificate, and do hereby irrevocably constitute and appoint attorney-in-fact to transfer the said stock on the books of the within named Corporation with full power of the substitution in the premises. Dated NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. By THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION, (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15. GUARANTEES BY A NOTARY PUBLIC ARE NOT ACCEPTABLE. SIGNATURE GUARANTEES MUST NOT BE DATED. Signature(s) Guaranteed: (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) X X

slide1
 D E L AW A R E  SEAL ZI PR ECR UITER, INC.CO RPORATE June 29, 2010 ZRB FULLY PAID AND NONASSESSABLE SHARES OF CLASS B COMMON STOCK, $0.00001 PAR VALUE PER SHARE, OF ZipRecruiter, Inc. transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. Dated: This certifies that is the record holder of INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE C O U N T E R S IG N E D A N D R E G IS T E R E D : A M E R IC A N S TO C K TR A N S FE R & TR U S T C O M PA N Y, LLC (B R O O K LY N , N Y ) T R A N S F E R A G E N T A N D R E G IS T R A R B Y : A U T H O R IZ E D S IG N A T U R E CHIEF EXECUTIVE OFFICER SECRETARY CUSIP 98980B 20 2 SEE REVERSE FOR CERTAIN DEFINITIONS AND LEGENDS
 
slide2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]