Document:

Exhibit 10.1

 

August 25, 2021

 

Minority Equality Opportunities Acquisition Inc.

100 Executive Court, Suite 2

Waxahachie, TX 75165

 

		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”)
entered into by and among Minority Equality Opportunities Acquisition Inc., a Delaware corporation (the “Company”),
and Maxim Group LLC, as representative (the “Representative”) of the several underwriters (each, an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of 11,000,000 of the Company’s units (including up to 1,650,000 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 redeemable warrant. Each warrant (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 (File No. 333-258241) 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 Capital 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, each of Minority Equality Opportunities Acquisition Sponsor,
LLC (the “Sponsor”) and 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”),
hereby agrees with the Company as follows:

 

1.  The
Sponsor and each Insider 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 engages in a tender offer in connection with any proposed Business Combination, the Sponsor and each Insider
agrees that it, he or she will not seek to sell its, his or her shares of Capital Stock to the Company in connection with such tender
offer. Any such payments would be made in the form of a non-interest bearing loan.

 

2.  (a)
In the event that the Company fails to consummate a Business Combination within 12 months, the Sponsor may extend the time period by which
the Company must consummate a Business Combination by up to three (3) additional periods of three (3) months each (each such three (3)
month period, an “Extension Period”). If the Sponsor elects to extend, the Sponsor will deposit into the Trust
Account, with respect to each Extension Period, $1,100,000, or up to $1,265,000 if the Underwriters’ over-allotment option is exercised
in full ($0.10 per share in either case) on or prior to the date of the deadline. Such payment would be in the form of a non-interest-bearing
loan. Pursuant to this Letter Agreement, the Sponsor has agreed to waive its right to be repaid for such loan in the event that the Company
fails to complete a Business Combination.

 

(b)  The
Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within the timeframe
set forth in the Company’s amended and restated certificate of incorporation, as it may be amended from time to time (the “Charter”),
and Section 2(a) herein, the Sponsor and each Insider 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 (as
defined below), including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its
taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then 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 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.

 

The Sponsor and each Insider
agrees not to propose any amendment to the Charter to modify: (i) the substance or timing of the ability of holders of Offering Shares
to seek redemption in connection with a Business Combination or amendments to the Charter prior thereto; or (ii) (A) the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within such time set forth in
the Charter; or (B) any other provisions relating to stockholders' rights or pre-initial Business Combination activity, unless the Company
provides its public stockholders with the opportunity to redeem their shares of Common Stock 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 earned on the
funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then outstanding
Offering Shares.

 

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The Sponsor and each Insider
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 or any
other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The
Sponsor and each Insider hereby further waives, with respect to any shares of Common Stock held by it, him or her, if any, whether acquired
now or hereafter, any redemption rights it, he or she may have in connection with the consummation of a Business Combination or amendments
to the Charter prior thereto, including, without limitation, any such rights available in the context of a stockholder vote to approve
such Business Combination or a stockholder vote to approve an amendment to the Charter to modify: (i) (A) the substance or timing of the
Company’s obligation to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the
time period set forth in the Charter; or (B) any other provisions relating to stockholders' rights or pre-initial Business Combination
activity; or (ii) in the context of a tender offer made by the Company to purchase shares of Common Stock (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 the time period set forth in the Charter).

 

3.  During
the period commencing on the date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall
not, without the prior written consent of the Representative: (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge,
grant any option to purchase or otherwise dispose of or agree to dispose of, 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 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), 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 Capital Stock owned by it, him or her; (ii) enter into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of any Units, shares of Capital Stock, Warrants or any securities convertible into, or exercisable,
or exchangeable for, shares of Capital Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such
securities, in cash or otherwise; or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii).
Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions
set forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver by press release through
a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted shall
only be effective two business days after the publication date of such press release. 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 upon the failure of the Company to consummate its initial Business Combination within
the time period set forth in the Charter, the Sponsor (the “Indemnitor”) 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)
to which the Company may become subject as a result of any claim by: (i) any third party for services rendered or products sold to the
Company; or (ii) any prospective target business with which the Company has entered into a written letter of intent, confidentiality or
other similar agreement or Business Combination agreement (a “Target”); provided, however, that
such indemnification of the Company by the Indemnitor shall: (x) apply only to the extent necessary to ensure that such claims by a third
party or a Target do not reduce the amount of funds in the Trust Account to below the lesser of: (i) $10.15 per Offering Share; and (ii)
the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.15
per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets, less interest earned on the Trust
Account which may be withdrawn to pay taxes; (y) not apply to any claims by a third party or a Target which executed a waiver of any and
all rights to the monies held in the Trust Account (whether or not such waiver is enforceable); and (z) not apply to any claims under
the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933,
as amended. The Indemnitor 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 Indemnitor, the Indemnitor notifies the Company
in writing that it shall undertake such defense.

 

5.  To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,150,000 Units in full 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 412,500 multiplied by a fraction: (i) the numerator of which is 1,650,000 minus the number
of Units purchased by the Underwriters upon the exercise of their over-allotment option; and (ii) the denominator of which is 1,650,000.
The Sponsor will be required to forfeit only that number of Founder Shares as is necessary 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 (prior to giving effect
to the issuance of any shares of Capital Stock to the Underwriters).

 

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6.  (a)
Each of the officers and directors of the Company hereby agrees not to participate in the formation of, or become an officer or director
of, any other special purpose acquisition company with a class of securities registered under the Securities Exchange Act of 1934, as
amended, or the Exchange Act, until the Company has entered into a definitive agreement regarding an initial Business Combination or until
the Company has liquidated the Trust Account. Also, the Sponsor and the officers and directors of the Company will offer all suitable
Business Combination opportunities within the Company’s area of focus (and other related sectors, as discussed in the Prospectus)
to the Company before any other person or company, until the Company has consummated an initial Business Combination, or until the Company
has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

(b)  The
Sponsor and each Insider 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, 6(a), 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 and each Insider agrees that it, he or she shall not Transfer 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; or (B)
subsequent to the Business Combination: (x) if the last sale 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 and each Insider agrees that it, he or she shall not Transfer any Founder Shares, Private Placement Warrants or shares of Common
Stock issued or issuable upon the conversion of the Founder Shares or exercise of the Private Placement Warrants, until 30 days after
the completion of a Business Combination (the “Private Placement Lock-up Period”, together with the Founder
Shares Lock-up Period, the “Lock-up Periods”).

 

(c)  Notwithstanding
the provisions set forth in paragraphs 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 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 affiliate or family member of any of the Company’s officers or directors or any affiliate of the Sponsor
or to any member(s) of the Sponsor; (b) in the case of an individual, by gift to a member of such individual’s immediate family
or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to
a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual;
(d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
with the consummation of an initial Business Combination at prices no greater than the price at which the shares or warrants were originally
purchased; (f) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; or (g) by virtue
of the laws of the State of Delaware’s or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor;
provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written
agreement with the Company agreeing to be bound by the transfer restrictions herein.

 

8.  The
Sponsor and each Insider represents and warrants 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: it, 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; it, 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 it, he or she is not currently a defendant in any such criminal proceeding.

 

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9.  Except
as disclosed in the Prospectus, neither the Sponsor nor any officer, director, advisor or any affiliate of the Sponsor, officer, director
or advisor of the Company, shall receive 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 and each Insider has full right and power, without violating any agreement to which it 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 director on the board of directors or an advisor of the Company and hereby consents to being named in the
Prospectus as an officer and/or director of the Company or an advisor 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 3,162,500 shares of the Company’s Class B common stock, par value $0.0001 per share, initially issued to the Sponsor
(up to 412,500 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised
by the Underwriters) for $25,000, or approximately $0.008 per share, prior to the consummation of the Public Offering; (iv) “Initial
Stockholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Warrants”
shall mean 5,450,000 Warrants (or 6,027,500 Warrants if the over-allotment option is exercised in full) that the Sponsor and the Representative
have agreed to purchase for an aggregate purchase price of $5,450,000 (or $6,027,500 if the over-allotment option is exercised in full)
in the aggregate, or $1.00 per Warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering,
of which 4,900,000 Private Placement Warrants (or 5,395,000 Private Placement Warrants if the over-allotment option is exercised in full)
shall be purchased by the Sponsor and 550,000 Private Placement Warrants (or 632,500 Private Placement Warrants if the over-allotment
option is exercised in full) shall be purchased by the Representative; (vi) “Public Stockholders” shall mean
the holders of securities issued in the Public Offering; (vi) “Trust Account” shall mean the trust fund into
which a portion of the net proceeds of the Public Offering shall be deposited; and (vii) “Transfer” shall mean
the: (a) sale 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 of the Exchange Act, and the rules and regulations of the
Commission promulgated thereunder 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.  The
Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each Director
shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for
any of the Company’s directors or officers.

 

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) as to any particular provision, except by a written instrument executed
by all parties hereto.

 

14.  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 and each
Insider and their respective successors, heirs and assigns and permitted transferees.

 

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15.  Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation 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.

 

16.  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.

 

17.  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.

 

18.  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.

 

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 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 September 30, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

21.  The
Company, the Sponsor, and each Insider hereby acknowledges and agrees that the Representative on behalf of the Underwriters is a third-party
beneficiary of this Letter Agreement.

 

[remainder of page intentionally left blank;
signature page follows]

 

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	 	Sincerely,
	 	 
	 	MINORITY EQUALITY OPPORTUNITIES ACQUISITION SPONSOR, LLC
	 	 	 
	 	By:	/s/ Peter Tassiopoulos
	 	 	Name:	Peter Tassiopoulos
	 	 	Title: 	Co-Manager

 

	 	By:	/s/ Shawn D. Rochester
	 	 	Name:	Shawn D. Rochester

 

	 	By:	/s/ Robin D. Watkins
	 	 	Name:	Robin D. Watkins

 

	 	By:	/s/ Roland D. Busby, Sr.
	 	 	Name:	Ronald D. Busby, Sr.

 

	 	By:	/s/ Patrick F. Linehan
	 	 	Name:	Patrick F. Linehan

 

	 	By:	/s/ Julianne Malveaux, Ph.D.
	 	 	Name:	Julianne Malveaux, Ph.D.

 

	Acknowledged and Agreed:	 
	 	 
	MINORITY EQUALITY OPPORTUNITIES ACQUISITION INC.	 
	 	 	 
	By:	/s/ Shawn D. Rochester	 
	 	Name:	Shawn D. Rochester	 
	 	Title:	President & CEO	 

 

[Signature Page to Letter Agreement]Exhibit
10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of August 25, 2021, by and between
Minority Equality Opportunities Acquisition Inc., a Delaware corporation (the “Company”), and Continental Stock
Transfer & Trust Company, a New York limited purpose trust company (the “Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, File No. 333-258241 (the “Registration Statement”)
and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the “Units”),
each of which consists of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common
Stock”), and one redeemable warrant, each warrant entitling the holder thereof to purchase one share of Common Stock (such
initial public offering hereinafter referred to as the “Offering”), has been declared effective as of the date
hereof by the U.S. Securities and Exchange Commission; and

 

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

 

WHEREAS,
as described in the Prospectus, $111,650,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined
in the Underwriting Agreement) (or $128,397,500, if the Underwriters’ over-allotment option is exercised in full), and the proceeds
from any loans in connection with an Extension (as defined below), if any, will be delivered to the Trustee to be deposited and held
in a segregated trust account located at all times in the United States (the “Trust Account”) for the benefit
of the Company and the holders of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to
be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,”
the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,”
and the Public Stockholders and the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property equal to $3,960,000, or $4,554,000 if the Underwriters’ over-allotment
option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to
the Underwriters upon and concurrently with the consummation of the Business Combination (as defined below) (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.

 

NOW THEREFORE,
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 in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets
of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

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

 

(c)
 In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government
securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or
less, or in money market funds meeting the conditions of Rule 2a-7(d) promulgated under the Investment Company Act of 1940, as amended
(or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company; it being understood
that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder;
while the account funds are invested or uninvested, the Trustee may earn bank credits or other consideration;

 

     

     

    

 

(d)
 Collect and receive, when due, all interest or other 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 the Trustee with respect to any Property requiring
action by the Company;

 

(f)
 Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with
the Company’s preparation of the tax returns relating to assets held in the Trust Account;

 

(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: (x) 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 by at least two of its Chief Executive
Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the board of directors
of the Company (the “Board”) or other authorized officer of the Company, and, in the case of a Termination
Letter in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by the Representative,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously
released to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses),
only as directed in the Termination Letter and the other documents referred to therein; or (y) the date which is the later of: (1) 12
months after the closing of the Offering; provided, that if the Company has not consummated an initial Business Combination within 12
months after the closing of the Offering, the Company’s Sponsor may request that the Board of Directors of the Company extend the
period of time to consummate an initial Business Combination by up to three (3) additional periods of three (3) months each (the “Extension”;
and each such three (3) month period, an “Extension Period”), for a total of 21 months to consummate an initial
Business Combination, provided that, with respect to each Extension Period: (i) the Sponsor or its affiliates or designees has deposited
into the Trust Account $1,100,000 (or $1,265,000, if the underwriters’ over-allotment option is exercised in full), in exchange
for a non-interest bearing, unsecured promissory note, and (ii) there has been compliance with any applicable procedures relating to
the Extension (or such Extension Period, as applicable) in this Agreement and in the letter agreement among the Company, the Sponsor
and the officers and directors of the Company (which is described in the Registration Statement and such letter agreement has been provided
to the Trustee); and (2) such later date as may be approved by the Company’s stockholders in accordance with the Company’s
Amended and Restated Certificate of Incorporation (“Charter”) if a Termination Letter has not been received
by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in
the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest not previously released
to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall
be distributed to the Public Stockholders of record as of such date;

 

(j)
 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 C, withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested
by the Company to cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned
on the Property, which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment,
and the Company shall forward such payment to the relevant taxing authority; provided, however, that to the extent there
is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account
as shall be designated by the Company in writing to make such distribution, so long as there is no reduction in the principal amount
per share initially deposited in the Trust Account; provided, further, that if the tax to be paid is a franchise tax, the
written request by the Company to make such distribution shall be accompanied by a copy of the franchise tax bill from the State of Delaware
for the Company (it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not
be payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the
Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

    2

     

    

 

(k)
 Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem shares
of Common Stock from Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Charter
to modify the substance or timing of the ability of Public Stockholders to seek redemption in connection with an initial Business Combination
or amendments to the Charter prior thereto or the Company’s obligation to redeem 100% of its public shares of Common Stock if the
Company has not consummated an initial Business Combination within such time as is described in clause (y) of Section 1(i)
of the Agreement. The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled
to distribute said funds, and the Trustee shall have no responsibility to look beyond said request;

 

(l)
 Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j), or (k)
above; and

 

(m)
 Upon receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit E hereto
at least ten 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.
 Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)
 Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive
Officer, Chief Financial Officer, President, Executive Vice President, Vice President or Secretary. In addition, except with respect
to its duties under Sections 1(i), 1(j), and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be
protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to
be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such
instructions in writing;

 

(b)
 Subject to Section 4 hereof, 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 action taken by it hereunder
and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any
claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property
or any interest earned on 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 Section 2(b), 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 such consent shall not be unreasonably withheld. The Company may participate
in such action with its own counsel;

 

(c)
 Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee,
and transaction processing fee 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 unless and until the closing of the Business Combination (defined below). The Company
shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company
shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A,
and as may be provided in Section 2(b) hereof;

 

(d)
 In connection with any vote of the Company’s stockholders regarding a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business
Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting
verifying the vote of such stockholders regarding such Business Combination;

 

    3

     

    

 

(e)
 Provide the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee
with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

(f)
 Unless otherwise agreed between the Company and the Representative, ensure that any Instruction Letter (as defined in Exhibit
A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount
is paid directly to the account or accounts directed by the Representative on behalf of the Underwriters prior to any transfer of the
funds held in the Trust Account to the Company or any other person;

 

(g)
 Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the
Trustee to make any distributions that are not permitted under this Agreement;

 

(h)
 Within four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or
such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in
no event be less than $3,960,000;

 

(i)
 If applicable, issue a press release at least three days prior to the applicable deadline announcing that, at least ten days prior
to the applicable deadline, the Company received notice from the Sponsor that the Sponsor intends to deposit funds into the Trust Account
for extending the applicable deadline and the Board has approved such Extension; and

 

(j)
 Promptly following the applicable deadline, disclose whether or not the deadline for the Company to consummate a Business Combination
has been extended.

 

3.
 Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a)
 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;

 

(b)
 Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no
liability to any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

(c)
 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;

 

(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 Trustee’s best judgment, except for the Trustee’s 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, which counsel may be the Company’s counsel), 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 the Trustee believes, in good faith and with reasonable care, to be genuine
and to be signed or presented by the proper person or persons. 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;

 

    4

     

    

 

(g)
 Verify the accuracy of the information contained in the Registration Statement;

 

(h)
 Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
contemplated by the Registration Statement;

 

(i)
 File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic
written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the
Property;

 

(j)
 Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including,
but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

 

(k)
 Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections
1(i), 1(j), or 1(k) hereof.

 

4.
 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 2(b) or Section 2(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.

 

5.
 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, pending which the Trustee shall continue to act in accordance with this Agreement. At such time
that the Company notifies the Trustee that a successor trustee has been appointed 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 and its obligations in accordance with the provisions
of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance with
the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

 

6.
 Miscellaneous.

 

(a)
 The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect
to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures 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 confidential information, or of any change in its authorized personnel. In executing funds transfers,
the Trustee shall 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 or transmission of the funds.

 

    5

     

    

 

(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. 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.

 

(c)
 This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.
This Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing
signed by each of the parties hereto; provided, however, that no such change, amendment, or modification to Section 1(i), 2(f),
or Exhibit A may be made without the prior written consent of the Representative.

 

(d)
 This Agreement or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the
Consent of the Stockholders. For purposes of this Section 6(d), the “Consent of the Stockholders” means
receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that the Company’s
stockholders of record as of a record date established in accordance with Section 213(a) of the Delaware General Corporation Law, as
amended (“DGCL”) (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding
shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have
voted in favor of such change, amendment or modification. No such amendment will affect any Public Stockholder who has otherwise indicated
his election to redeem his shares of Common Stock in connection with a stockholder vote sought to amend this Agreement to modify the
substance or timing of the Company’s obligation to redeem 100% of the Common Stock if the Company does not complete its initial
Business Combination within the time frame specified in the Charter. Except for any liability arising out of the Trustee’s gross
negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections referenced
above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon.

 

(e)
 The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of
New York, 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.

 

(f)
 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
or by electronic mail:

 

If
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, NY 10004

Attn:
Francis Wolf & Celeste Gonzalez

Email:
fwolf@continentalstock.com

Email:
cgonzalez@continentalstock.com

 

If
to the Company, to:

 

Minority
Equality Opportunities Acquisition Inc.

100
Executive Court, Suite 2

Waxahachie,
TX 75165

Attn:
Shawn D. Rochester

Email:
shawn.rochester@goodstewardllc.com

 

    6

     

    

 

In
each case, with copies to:

 

Pryor
Cashman LLP

7
Times Square

New
York, NY 10036

Attn:
 M. Ali Panjwani, Esq.

Email:
ali.panjwani@pryorcashman.com

 

and

 

Maxim
Group LLC

405
Lexington Ave, 2nd Floor

New
York, NY 10174

Attn.:
Clifford A. Teller, Executive Managing Director, Investment Banking

Fax:
212-895-3783

Email:
cteller@maximgrp.com

 

and

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, NY 10105

Attn:
Barry I. Grossman, Esq.

Email:
bigrossman@egsllp.com

Telephone:
(212) 370-1300

 

(g)
 Each of the Company and the Trustee 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. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in
the Trust Account under any circumstance.

 

(h)
 This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

(i)
 This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic
transmission shall constitute valid and sufficient delivery thereof.

 

(j)
 Each of the Company and the Trustee hereby acknowledges and agrees that the Representative on behalf of the Underwriters is a third-party
beneficiary of this Agreement.

 

(k)
 Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other
person or entity.

 

[remainder
of page intentionally left blank; signature page follows]

 

    7

     

    

 

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

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	By:	/s/
    Francis Wolf
	 	 	Name: Francis Wolf
	 	 	Title: Vice President
	 	 	 
	 	MINORITY EQUALITY
    OPPORTUNITIES ACQUISITION INC.
	 	 	 
	 	By:	/s/
    Shawn D. Rochester
	 	 	Name: Shawn D. Rochester
	 	 	Title:    Chief
    Executive Officer
	 	 	 

 

[Signature
Page to Investment Management Trust Agreement]

 

    8

     

    

 

SCHEDULE
A

 

	Fee
    Item	 	Time
    and method of payment	 	Amount	 
	Initial
    set-up fee.	 	Initial
    closing of Offering by wire transfer.	 	$	3,500.00	 
	Trustee
    administration fee	 	Payable
    annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.	 	$	10,000.00	 
	Transaction
    processing fee for disbursements to Company under Sections 1(i) and (j)	 	Deduction
    by Trustee from accumulated income following disbursement made to Company under Section 1	 	$	250.00	 
	Paying
    Agent services as required pursuant to Sections 1(i) and 1(k)	 	Billed
    to Company upon delivery of service pursuant to Section 1(i) and 1(k)	 	 	Prevailing
    rates	 

 

    9

     

    

 

EXHIBIT
A

 

MINORITY
EQUALITY OPPORTUNITIES ACQUISITION INC.

100
Executive Court, Suite 2

Waxahachie,
TX 75165

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street,
30th Floor

New York,
New York 10004

Attn: Francis
Wolf & 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 Minority Equality Opportunities Acquisition Inc. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of August 25, 2021 (the “Trust
Agreement”), this is to advise you that the Company has entered into an agreement with [__________] (the “Target
Business”) to consummate a business combination with Target Business (the “Business Combination”)
on or about [____]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of
the Business Combination (the “Consummation Date”). Capitalized terms used but not defined herein shall have
the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account
and transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation
Date, all of the funds held in the Trust Operating Account at J.P. Morgan Chase Bank, N.A. 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 operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, the Company will not earn any interest or dividends.

 

On
the Consummation Date: (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
or will be consummated concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”);
and (ii) the Company shall deliver to you: (a) a certificate by the Chief Executive Officer, which verifies that the Business Combination
has been approved by a vote of the Company’s stockholders, if a vote is held; and (b) a joint written instruction signed by the
Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed
to public stockholders who have properly exercised their redemption rights and payment of the Deferred Discount to the Representative
from the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds
held in the Trust Account immediately upon your receipt of the Notification 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 in writing of the same and the Company shall direct you as to whether such funds should
remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net
of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, 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 Trustee of written instructions
from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on
the business day immediately following the Consummation Date as set forth in such notice as soon thereafter as possible.

 

    10

     

    

 

	 	 	Very truly yours,
	 	 	 
	 	 	Minority Equality Opportunities Acquisition
    Inc.
	 	 	 
	 	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 
	 	 	 
	 	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 

 

	Acknowledged & Agreed by:	 
	 	 
	Maxim Group LLC	 
	 	 
	By: 	 	 
	Name:	 	 
	Title:	 	 

 

    11

     

    

 

EXHIBIT
B

 

MINORITY
EQUALITY OPPORTUNITIES ACQUISITION INC.

100
Executive Court, Suite 2

Waxahachie,
TX 75165

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street,
30th Floor

New York,
New York 10004

Attn: Francis
Wolf & 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 Minority Equality Opportunities Acquisition Inc. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of August 25, 2021 (the “Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target Business
(the “Business Combination”) within the time frame specified in Section 1(i) of the Trust Agreement.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to
transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public
Stockholders. The Company has selected [____](1) as the effective date for the purpose of determining when the Public Stockholders
will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate
capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Stockholders in accordance with the terms
of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company. Upon the distribution of all the funds,
net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the
Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

	(1)	12
    months from the closing of the Offering or at a later date, if extended.

 

	 	Very truly yours,
	 	 
	 	Minority Equality Opportunities Acquisition
    Inc.
	 	   
	 	By: 	 
	 	Name:	 
	 	Title:	 
	 	 
	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 
	 	 
	cc: Maxim Group LLC	 

 

    12

     

    

 

EXHIBIT
C

 

MINORITY
EQUALITY OPPORTUNITIES ACQUISITION INC.

100
Executive Court, Suite 2

Waxahachie,
TX 75165

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street,
30th Floor

New York,
New York 10004

Attn: Francis
Wolf & Celeste Gonzalez

 

	 	 Re:
	 Trust
    Account - Withdrawal Instruction

 

Dear Mr.
Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between Minority Equality Opportunities Acquisition Inc. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of August 25, 2021 (the “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. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The
Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. 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]

 

	 	Very truly yours,
	 	 
	 	Minority Equality Opportunities Acquisition Inc.
	 	 	 
	 	By:  	               
	 	Name:	 
	 	Title:	 

 

cc:
Maxim Group LLC

 

    13

     

    

 

EXHIBIT
D

 

MINORITY
EQUALITY OPPORTUNITIES ACQUISITION INC.

100
Executive Court, Suite 2

Waxahachie,
TX 75165

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1 State Street,
30th Floor

New York,
New York 10004

Attn: Francis
Wolf & Celeste Gonzalez

 

	 	 Re:
	 Trust
    Account - Stockholder Redemption Withdrawal Instruction

 

Dear Mr.
Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Minority Equality Opportunities Acquisition Inc. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of August 25, 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the redeeming Public Stockholders of the Company $[____] of
the principal and interest income earned on the Property as of the date hereof to a segregated account held by you on behalf of the Beneficiaries
for distribution to the Stockholders who have requested redemption of their Common Stock. Capitalized terms used but not defined herein
shall have the meanings set forth in the Trust Agreement.

 

The
Company needs such funds to pay its Public Stockholders who have properly elected to have their shares of Common Stock redeemed by the
Company in connection with a stockholder vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation
to modify the substance or timing of the Company’s obligation to redeem 100% of public shares of Common Stock if the Company has
not consummated an initial Business Combination within such time as is described in Section 1(i) of the Trust Agreement. As such,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.

 

	 	Very truly yours,
	 	 
	 	Minority Equality Opportunities Acquisition
    Inc.
	 	 	 
	 	By:  	 
	 	Name:	 
	 	Title:	 

 

cc: Maxim
Group LLC

 

    14

     

    

 

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 Extension Letter:

 

Mr. Wolf
and Ms. Gonzalez:

 

Pursuant
to Section 1(m) of the Investment Management Trust Agreement between Minority Equality Opportunities Acquisition Inc. (“Company”)
and Continental Stock Transfer & Trust Company, dated as of August 25, 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 the 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 $1,100,000 [(or $1,265,000 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 ____ of up to three Extension Letters.

 

	 	Very truly yours,
	 	 
	 	Minority Equality
    Opportunities Acquisition Inc.
	 	 	 
	 	By:	 
	 	Name:	
	 	Title:	

 

	Cc:	Maxim Group LLC

 

 

15

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