Document:

Exhibit 10.1

 

SHAREHOLDERS AGREEMENT

 

This SHAREHOLDERS AGREEMENT
(this “Agreement”) is made as of December 29, 2021 (the “Effective Date”) between Ideanomics, Inc.,
a Nevada corporation (the “Company”), and each person or entity listed on the signature page hereof as a shareholder
of the Company (together, the “Shareholders”).

 

Background

 

1. As of the date hereof, the Shareholders: (a)
 “beneficially owns” (as such term is defined in Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as
amended) 34,949,141 shares of Company Common Stock, $0.001 par value (“Common Stock”), and 7,000,000 shares of Company
Series A Preferred Stock, $0.001 par value, convertible into 933,333 shares of Common Stock (“Preferred Stock”, and
together with the Common Stock, including the Common Stock issuable upon conversion of the Preferred Stock, the “Shares”).

 

2.
Lan Yang is the sole Trustee of the Sun Seven Stars Trust (the “Trust”); the Trust currently holds 100% of the
outstanding shares of Sun Seven Stars Investment Group, Limited (“SSSIG”); SSSIG is a shareholder of the Company; Lan
Yang has instructed that all Shares of the Company owned by SSSIG to be held in her name; and Lan Yang desires to grant a voting proxy
for the Shares to Alfred Poor, Chief Executive Officer of the Company, or such other executive as may be directed by the Board of Directors
(the “Board”) of the Company (in such capacity, the “Agent”) and such person shall vote in accordance
with the directive of the Board, as set forth herein.

 

3. In light of the preceding paragraph, the parties
to this Agreement recognize that the intent of the Shareholders is to sell the Shares owned by SSSIG, which is referred to below as the
 “First Block” of Shares, as soon as practicable following the Effective Date.

 

4. Each of Lan Yang and SSSIG has agreed to provide
to the Company the indemnification contemplated below to induce the Company to agree to facilitate the transfers of Shares of Common Stock
owned by Lan Yang and SSSIG.

 

5. Each of the Shareholders and the Company wish
to set forth their respective agreements to the other party, based on the terms and conditions set forth below.

 

Agreement

 

In consideration of the mutual
agreements contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
each of the Company and the undersigned Shareholders hereby agree as follows:

 

1.       Company
Agreements.

 

a.       Facilitate
Transfers. The Company agrees to:

 

(i)        facilitate and effect
the transfer of up to 13.95 million Shares owned by SSSIG to Lan Yang as of the Effective Date (such Shares, the “First Block”),
based on the fact that SSSIG has delivered to the transfer agent of the Company, Transfer Online, Inc. (“Transfer Online”),
documentation requested by the Transfer Agent which is set forth on Annex 1 which the Transfer Agent has confirmed to the Company complies
with their respective requirements with respect to the contemplated transfer, provided that (i) such shares contain the legend set forth
in Section 2(d) of this Agreement and (ii) that SSSIG and Lan Yang are hereby delivering the indemnity as set forth below; and

 

    

     

    

 

(ii)       facilitate any future
requested transfers of Shares owned by any of the Shareholders (such Shares collectively in one or more tranches, the “Second
Block”) as soon as possible after receipt of written request for transfer, in each case, by coordinating with and facilitating
that transfer with its transfer agent and will take all reasonable action to facilitate the effectuation of that transfer, subject to
the applicable Shareholder delivering the documents specified in Annex 1.

 

b.       Exchange
of Paper for Electronic Shares. The Shareholders will surrender the Shares in paper or certificated form to Transfer Online and Transfer
Online will hold those shares in book-entry in the name of each respective Shareholder; provided that the Company will direct the Transfer
Agent to transfer Shares as soon as possible subject to the Shareholder delivering the documentation set forth in Annex 1, upon the written
request by a Shareholder pursuant to, and in compliance with, this Agreement without delay.

 

c.       Facilitate
Conversion of Preferred Stock. Upon delivery by the applicable Shareholders (i) to the Company of one or more certificates
representing shares of the Company’s Series A Preferred Stock owned by the applicable Shareholders and (ii) to the Company of the
requisite conversion notice, the Company agrees to issue 933,333 shares of Common Stock to the applicable Shareholder pursuant to the
terms of the Preferred Stock in electronic book-entry form registered with Transfer Online, provided that such shares contain the legend
set forth in Section 2(d).

 

d.       Registration
Rights.

 

(i)        Registration
Rights. The Company shall prepare and file with the U.S. Securities and Commission (the “SEC”) a Registration Statements
on Form S-3, S-1 or any other eligible form if the Company is not eligible to use Form S-3, for the purpose of registering under the Securities
Act of 1933, as amended (the “Securities Act”) all of the Shares owned by the Shareholders as of the Effective Date
for resale by, and for the accounts of, the Shareholders as selling stockholders thereunder (the “Mandatory Registration Statement”),
subject to the timeframes contained in clause (ii) below. The Mandatory Registration Statement shall permit the holders of Registrable
Securities to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of these Shares.

 

(ii)       Registration
Deadlines. Following the Company’s filing of its Annual Report on Form 10-K for the fiscal year ended 2021, the Company shall
use its commercially reasonable efforts to file the Mandatory Registration Statement and have such registration statement declared effective
by the SEC as soon as possible. The failure by the Company to comply with this clause (ii) shall constitute a breach of its obligations
under this Agreement.

 

(iii)      Shareholder
Cooperation; Prospectus Supplements. Each Shareholder shall cooperate with the Company as reasonably requested in connection with
the preparation and filing of the Mandatory Registration Statement hereunder, including, without limitation, by furnishing in writing
to the Company such information regarding itself and the possible intended methods of disposition of these Shares as shall be reasonably
required to effect the registration of these Shares and by executing such documents in connection with such registration as the Company
may reasonably request. The Company shall promptly notify the Shareholders of (A) the effectiveness of the Mandatory Registration Statement
within one (1) Business Days after the Company telephonically confirms effectiveness of the Mandatory Registration Statement with the
SEC; and (B) the suspension of the effectiveness of the Mandatory Registration Statement. Upon the written request of any Shareholder,
the Company shall prepare one or more prospectus supplements, if needed and applicable, for use by such requesting Shareholder, and the
Company shall file it with the SEC in connection with the use of and sales by any such Shareholder, provided that any such Shareholder
complies with the prior sentence of this clause.

 

    

     

    

 

(iv)      Company
Covenant to Maintain Effectiveness. The Company shall be required, absent contrary comment or instruction, oral or written, from the
SEC, to keep the Mandatory Registration Statement effective for the period from the date that the Mandatory Registration Statement is
declared effective by the SEC until the earlier to occur of the date when all Shares subject to (a) either have been sold pursuant to
a Registration Statement or an exemption from the registration requirements of the Securities Act; or (b) pursuant to a written opinion
of counsel reasonably acceptable to the Company, may be sold pursuant to Rule 144(b)(1) of the Securities Act without any limitations.
Thereafter, the Company shall be entitled to withdraw the applicable Mandatory Registration Statement and the Shareholders shall have
no further right to offer or sell any of these Shares pursuant to such withdrawn Mandatory Registration Statement (or any prospectus relating
thereto). If the Mandatory Registration Statement has its effectiveness suspended, then the Company will use its reasonable best efforts
to file any amended or suspended Mandatory Registration Statement to address that suspension as soon as possible so that the Company remains
in compliance with the registration deadlines set forth in clause (ii) and with this clause (iv).

 

(v)       No
Underwritten Offering. The offer and sale of the Shares pursuant to the Mandatory Registration Statement shall not be underwritten.

 

(vi)      Rule
144. The Company shall file all reports required to be filed by it under the Securities Act and the Exchange Act and shall take such
further action as the Shareholders may reasonably request, all to the extent required to enable the Shareholders to sell the Shares in
accordance with Rule 144 of the Securities Act. Such action shall include, but not be limited to, making available adequate current public
information meeting the requirements of paragraph (c) of Rule 144.

 

 

2.     Shareholders
Agreements.

 

a.        Twelve
Month Prohibition on Sales or Transfers. Except as otherwise permitted under the proviso below, the Shareholder, including the Shareholder’s
Affiliated Entities (as defined below), hereby agrees that for a period of twelve (12) months from the Effective Date (the “Lock-Up
Period”), the Shareholder will not offer, sell, contract to sell, pledge, give, donate, transfer or otherwise dispose of, directly
or indirectly (each a “Transfer”), any Shares (including Shares acquired upon exercise, conversion or exchange of incentive
equity securities or other convertible securities) owned as of the Effective Date (collectively, the “Lock-Up Shares”),
enter into a transaction which would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in whole
or in part, any of the economic or voting consequences of ownership of such securities, whether any such aforementioned transaction is
to be settled by delivery of the Lock-Up Shares or other securities, in cash or otherwise, or publicly disclose the intention to make
any such offer, sale, pledge or disposition, or to enter into any such transaction, swap, hedge or other arrangement (the “Lock-Up
Agreement”); provided, however:

 

    

     

    

 

(i) the Shareholder shall
have the right to effect Transfers of his, her or its, as the case may be, Lock-Up Shares, by any Transfer (including by open market sales,
privately negotiated sales, sales pursuant to a registration statement or otherwise) in an aggregate amount not to exceed:

 

(A) with respect to the First
Block and any Shares in the Second Block, on a daily basis the greater of (i) 500,000 shares of Common Stock and (ii) 5% of the average
daily volume of Common Stock traded for the preceding 10 trading days of the national stock exchange on which the Shares are then listed
for trading; and

 

(B) with respect to any Shares
in the Second Block only, during any calendar quarter, no more than an aggregate of 8,750,000 shares of Common Stock;

 

(iii) this Lock-Up Agreement
does not extend, cover or restrict any Transfers that are for customary tax or estate planning purposes of each of the Shareholders; provided
that any such transferee person or entity agrees to be bound by the terms of this Agreement;

 

(iv) the Lock-Up Agreement
shall not apply with respect to any disclosure requirements of law or regulation, including with respect to any of the Shareholders filing
an amended Schedule 13D with the U.S. Securities and Exchange Commission or any other filing or notice with other regulatory agencies
or governmental authorities;

 

(v) this Lock-Up Agreement
shall not apply to any Transfers to any Affiliated Entities of the Shareholders, provided that any such transferee agrees to be bound
by the terms of this Agreement;

 

(vi) this Lock-Up Agreement
shall not apply to Transfers to pledgees and donees of any Shareholder, provided that any such transferee agrees to be bound by the terms
of this Agreement;

 

(vii) the Shareholders may
effect any Transfers with the written consent of the Company; and

 

(viii) so long as such sales
are made in compliance with the requirements of this Agreement, the Lock-Up Shares sold shall thereafter not be subject to the restrictions
on sale contained in this Agreement.

 

As used in this Agreement, “Affiliated
Entities” shall mean any legal entity, including any company, limited liability company, partnership, not-for-profit Company,
estate planning vehicle or trust, which is directly or indirectly owned or controlled (within the meaning of the Securities Exchange Act
of 1934, as amended) by the Shareholder or his or her descendants or spouse, of which such Shareholder or his or her descendants or spouse
are beneficial owners, or which is under joint control or ownership with any other person or entity.

 

b.       Application
of this Agreement to Shares Sold or Otherwise Transferred. So long as such sales are made in compliance with the requirements of this
Agreement, the Lock-UP Shares sold shall thereafter not be subject to the restrictions on sale contained in this Agreement.

 

c.       Attempted
Transfers. Any attempted or purported Transfer of any Lock- Up Shares by the Shareholder in violation or contravention of the terms
of this Agreement shall be null and void ab initio. The Company shall instruct its transfer agent to reject and refuse to transfer on
its books any Lock-Up Shares that may have been attempted to be transferred in violation or contravention of any of the provisions of
this Agreement and shall not recognize any person in receipt thereof.

 

d.       Broker
Authorization. The Shareholders hereby authorize any and all brokers, for all accounts holding the Shareholders’ Lock-Up Shares,
to provide directly to the Company, immediately upon the Company’s request, a copy of all account statements showing the Lock-Up
Shares and all trading activity in the Lock-Up Shares during the Lock-Up Period. The name of the Shareholders’ broker and the contact
information will be provided to the Company in writing. The Shareholders will use their commercially reasonable efforts to cause the applicable
brokers to cooperate with the Company regarding the delivery of this information, with the understanding that the Shareholders cannot
control the outcome of any such requests to their brokers.

 

    

     

    

 

e.       Legends
on Certificates. All Lock-Up Shares owned as of the Effective Date by the Shareholders, shall be subject to the provisions of this
Agreement and the certificates representing such Lock-Up Shares shall bear the legend set forth below, which shall be electronically entered
on the Transfer Agent’s ledger; provided however, that that the legend shall be removed as soon as possible upon request by any
Shareholder in connection with any valid Transfer of Shares pursuant to and in compliance with this Agreement.

 

THE SALE, ASSIGNMENT, GIFT, BEQUEST, DISTRIBUTION,
PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OR TRANSFER OF THE SHARES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND MAY BE MADE
ONLY IN ACCORDANCE WITH THE TERMS OF THE SHAREHOLDERS AGREEMENT DATED AS OF DECEMBER 29, 2021 AMONG IDEANOMICS, INC. AND THE SHAREHOLDERS
LISTED THEREIN, A COPY OF WHICH MAY BE EXAMINED AT THE OFFICE OF THE COMPANY.

 

f.         Voting
Agreement.

 

(i)        Appointment.
Lan Yang hereby appoints Agent as proxy, with full power of substitution, to vote all Shares of the Company owned by the Trust
and/or Lan Yang, subject to the Company complying with its agreements in Section 1.

 

(ii)       General
Voting Proxy. This Proxy is a continuing voting proxy with respect to all matters submitted to a vote of stockholders of the
Company at a meeting of stockholders or through the solicitation of a written consent of stockholders, provided that (A) no such note
shall detract from or contradict any rights of the Shareholders under this Agreement or otherwise and (B) the grant of this Proxy shall
be subject to the Company complying with its Agreements in Section 1. Agent has the power and authority by this Proxy to vote the Shares
as directed by the Board, in any and all matters which may, from time to time, be voted by the shareholders of the Company.

 

(iii)      Term.
This Proxy shall remain in full force and effect for as long as SSSIG or Lan Yang directly or indirectly own the Shares for a term
of 24 months from the Effective Date, provided that this Proxy shall terminate and shall be no longer of any effect if the Company
does not comply with its Agreements in Section 1.

 

g.        SSSIG
Representation. SSSIG, Lan Yang and Bruno Wu each represent that each is not aware of any claim, action or loss which may result from
the transfer of the Shares as contemplated by Section 1(a) above or any other action contemplated by this Agreement.

 

h.
       Indemnification Agreement. Each of Lan Yang and SSSIG hereby agrees, severally and not
jointly and severally, to indemnify and hold harmless the Company, and assume any and all liability that arise from any liability the
Company has in connection with its indemnification of the Transfer Agent in the definitive form separately provided to Lan Yang and SSSIG.
In the event of any dispute in connection with this indemnification agreement, each of Lan Yang and
SSSIG, severally and not jointly and severally, agrees to provide for the Company’s defense in the form of legal representation
which is acceptable to the Indemnitee or compensation for reasonable fees incurred as a result of any such dispute. Each of Lan Yang and
SSSIG shall not be liable for any settlement of any action effected without their respective consent (which shall not be unreasonably
withheld).

 

    

     

    

 

7.       Miscellaneous

 

(a)     Entire Agreement. This Agreement constitutes the entire agreement and understanding of the parties in respect of the subject
matter hereof and supersedes all prior understandings, agreements or representations by or among the parties, written or oral, to the
extent they relate in any way to the subject matter hereof.

 

(b)     Assignment; Binding Effect. No party may assign either this Agreement or any of its rights, interests or obligations
hereunder without the prior written approval of the other party, and any such assignment by a party without prior written approval of
the other party will be deemed invalid and not binding on such other party. All of the terms, agreements, covenants, representations,
warranties and conditions of this Agreement are binding upon, and inure to the benefit of and are enforceable by, the parties and their
respective successors and permitted assigns.

 

(c)     Notices.
All notices provided for or permitted to be given under this Agreement must be in writing and given by any of:

 

(i) personal delivery, which
shall be deemed effective on the date of delivery;

 

(ii) certified or registered
United States mail (postage prepaid, return receipt requested), which shall be deemed effective on the earlier of confirmed receipt or
the fifth Business Day following the date of mailing;

 

(iii) or by a nationally recognized
overnight delivery service for next day delivery, which shall be deemed effective as of the first Business Day following the date of dispatch;
or

 

(iv) on the date delivered
if sent by email, upon delivery by email to the recipient.

 

All notices hereunder shall be delivered to the
addresses set forth above, or pursuant to such other instructions as may be designated in writing by the party to receive such notice.

 

If to the Company:

Ideanomics, Inc.

1441 Broadway, Suite 5116

New York, NY 10018

Attention: Alfred P. Poor

 

With a copy to:

 

If to the Shareholders:

c/o Lan Yang

Pavilion 2, Guantang Art District,

Pingfang Town, Chaoyang District,

Beijing, PRC

 

    

     

    

 

With a copy to:

Paul Fishman, Esq.

Arnold & Porter Kaye Scholer,
LLP

One Gateway Center

Suite 1025

Newark, NJ 07102-5322

Paul.fishman@arnoldporter.com

 

(d)       Specific Performance;
Remedies. The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. Accordingly, each of the parties shall be entitled to seek
specific performance of the terms hereof, including an injunction or injunctions to prevent breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in the United States District Court located in the Borough of Manhattan (unless
the United States District Court located in the Borough of Manhattan shall decline to accept jurisdiction over a particular matter, in
which case, in any state court of the State of New York within the Borough of Manhattan in the City of New York), this being in addition
to any other remedy to which such party is entitled at law or in equity. Each of the parties hereby further waives (a) any defense
in any action for specific performance that a remedy at law would be adequate and (b) any requirement under any law to post security
as a prerequisite to obtaining equitable relief.

 

(e)       Submission to Jurisdiction.
Each of the parties irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any
other party or its successors or assigns shall be brought and determined in the United States District Court located in the Borough of
Manhattan (unless the United States District Court located in the Borough of Manhattan shall decline to accept jurisdiction over a particular
matter, in which case, in any state court of the State of New York within the Borough of Manhattan in the City of New York), and each
of the parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts for itself and with respect to its property,
generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the transactions
contemplated hereby. Each of the parties agrees not to commence any action, suit or proceeding relating thereto except in the courts described
above in New York, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any
such court in New York as described herein. Each of the parties further agrees that notice as provided herein shall constitute sufficient
service of process and the parties further waive any argument that such service is insufficient. In the event of any litigation before
a court of competent jurisdiction relating to a dispute with respect to this Agreement, the non-prevailing party in such litigation shall
reimburse the prevailing party’s reasonable and documented costs and expenses (including reasonable and documented attorney’s
fees and any costs of investigation or preparation) incurred in connection with such litigation, including any appeal therefrom. Each
of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim
or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, (a) any
claim that it is not personally subject to the jurisdiction of the courts in New York as described herein for any reason, (b) that
it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether
through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise)
and (c) that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii) the venue of
such suit, action or proceeding is improper, or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by
such courts.

 

    

     

    

 

(f)        WAIVER OF JURY TRIAL.
EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(g)       Headings. The article
and section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation
of this Agreement.

 

(h)       Governing Law.
This Agreement and all disputes or controversies arising out of or relating to this Agreement or the transactions contemplated hereby
shall be governed by, and construed in accordance with, the laws of the State of New York.

 

(i)        Amendment. This
Agreement may not be amended or modified except by a writing signed by each of the parties.

 

(j)        Waiver. No waiver
by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, may be deemed
to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights
arising because of any prior or subsequent such occurrence. Neither the failure nor any delay on the part of the party to exercise any
right or remedy under this Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy
preclude any other or further exercise of the same or of any other right or remedy.

 

(k)       Severability. Whenever
possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and valid
under applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable
in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never been contained herein.

 

(l)        Counterparts;
Effectiveness; Electronic Signature.

 

(i) This Agreement
may be executed in two or more counterparts, all of which shall be considered one and the same instrument and shall become effective when
one or more counterparts have been signed by each of the parties and delivered to the other party.

 

(ii) The exchange
of copies of this Agreement and of signature pages by facsimile transmission, by electronic mail in “portable document format”
(“.pdf”) form, DocuSign or similar program or by any other electronic means intended to preserve the original graphic and
pictorial appearance of a document, or by a combination of such means, shall constitute effective execution and delivery of this Agreement
as to the parties and may be used in lieu of an original Agreement for all purposes. Signatures of the parties transmitted by facsimile
or DocuSign or similar program shall be deemed to be their original signatures for all purposes.

 

(m)      Construction. This
Agreement has been freely and fairly negotiated among the parties. If an ambiguity or question of intent or interpretation arises, this
Agreement will be construed as if drafted jointly by the parties and no presumption or burden of proof will arise favoring or disfavoring
any party because of the authorship of any provision of this Agreement.

 

(n)       Further Assurances.
If any further action is necessary or reasonably desirable to carry out this Agreement’s purposes, each party will take such further
action (including executing and delivering any further instruments and documents and providing any reasonably requested information) as
the other party reasonably may request.

 

(o)       Condition Subsequent.
All parties acknowledge that in the event a party breaches the terms of this Agreement the non-breaching party shall no longer be obligated
to satisfy their obligations contained herein.

 

 

[SIGNATURE PAGE FOLLOWS]

 

    

     

    

 

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

 

	IDEANOMICS, INC.	 
	 	 
	 	 
	By:	 /s/Alfred P. Poor	 
	Name: Alfred P. Poor	 
	Title: Chief Executive Officer	 
	 	 
	SHAREHOLDERS	 
	 	 
	 	 
	/s/ Bruno Wu	 
	Bruno Wu	 
	 	 
	 	 
	/s/ Lan Yang	 
	Lan Yang	 
	 	 
	 	 
	Sun Seven Stars Trust	 
	 	 
	 	 
	By:	 /s/ Lan Yang	 
	Name: Lan Yang	 
	Title: Trustee	 
	 	 
	 	 
	Sun Seven Stars Investment Group Limited	 
	 	 
	 	 
	By:	/s/ Lan Yang	 
	Name: Lan Yang	 
	Title: Co-Chairperson	 
	 	 
	 	 
	Wecast Media Investment Management Limited	 
	 	 
	 	 
	By:	 /s/ Yun Zhu	 
	Name: Yun Zhu	 
	Title: Director	 

 

    

     

    

 

	Shanghai Sun Seven Stars Cultural Development Limited	 
	 	 
	 	 
	By:	/s/ Xiaoqian Xia	 
	Name: Xiaoqian Xia	 
	Title: Director and Office Manager	 
	 	 
	 	 
	Tianjin Sun Seven Stars Culture Development Ltd.	 
	 	 
	 	 
	By:	 /s/ Yongqi Liu	 
	Name: Yongqi Liu	 
	Title: Director and Project Manager	 
	 	 
	 	 
	Beijing Sun Seven Stars Culture Development Ltd.	 
	 	 
	 	 
	By:	 /s/ Yun Zhu	 
	Name: Yun Zhu	 
	Title: Executive Vice President	 
	 	 
	 	 
	Tianjin Sun Seven Stars Partnership Management Ltd.	 
	 	 
	 	 
	By:	/s/ Lan Yang	 
	Name: Lan Yang	 
	Title: ChairpersonEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

STOCKHOLDERS’ AGREEMENT 

This STOCKHOLDERS’ AGREEMENT (this “Agreement”), dated as of December 22, 2021, is entered into by and among
AdTheorent Holding Company, Inc. (formerly known as MCAP Acquisition Corporation), a Delaware corporation (the “Company”), H.I.G. Growth – AdTheorent, LLC, a Delaware limited liability company (“H.I.G.”), MCAP
Acquisition, LLC, a Delaware limited liability company (“Sponsor”), and each of the stockholders of the Company whose name appears on the signature pages hereto (each a “Stockholder,” and collectively with Sponsor,
the “Stockholders”). 
 RECITALS 

WHEREAS, the Company entered into that certain Business Combination Agreement, dated as of July 27, 2021 (as may be amended from
time to time, the “Business Combination Agreement”), by and among H.I.G. Growth – AdTheorent, LLC, a Delaware limited liability company, H.I.G. Growth – AdTheorent Intermediate, LLC, a Delaware limited liability company
(“H.I.G. Intermediate”), GRNT Merger Sub 1 LLC, a Delaware limited liability company (“Merger Sub 1”), GRNT Merger Sub 2 LLC, a Delaware limited liability company (“Merger Sub 2”), GRNT
Merger Sub 3 LLC, a Delaware limited liability company (“Merger Sub 3”), GRNT Merger Sub 4 LLC, a Delaware limited liability company (“Merger Sub 4”), and AdTheorent Holding Company, LLC, a Delaware limited
liability company (“AdTheorent”), pursuant to which, among other transactions, (i) Merger Sub 1 is merging with and into H.I.G. Intermediate, with H.I.G. Intermediate surviving the merger (the “First Blocker
Merger”), (ii) immediately thereafter and as part of an integrated transaction with the First Blocker Merger, H.I.G. Intermediate is merging with and into Merger Sub 2, with Merger Sub 2 surviving such merger (the “Second Blocker
Merger”), (iii) immediately thereafter, Merger Sub 3 is merging with and into AdTheorent, with AdTheorent surviving such merger (the “First Company Merger”), and (iv) immediately thereafter and as part of an integrated
transaction with the First Company Merger, AdTheorent is merging with and into Merger Sub 4, with Merger Sub 4 surviving such merger (together with the First Blocker Merger, the Second Blocker Merger, and the First Company Merger, the
“Mergers”); 
 WHEREAS, in connection with entering into the Business Combination Agreement, the Company entered
into letter agreements with each of the Stockholders pursuant to which each Stockholder agreed to restrictions on its right to transfer shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”) held by
it following consummation of the Mergers (collectively, the “Lock-Up Agreements”); 

WHEREAS, in connection with entering into the Business Combination Agreement, the Company, Sponsor and Continental Stock
Transfer & Trust Company, as the escrow agent, entered into the Escrow Agreement (the “Escrow Agreement”), pursuant to which, among other things, Sponsor agreed to deposit in escrow certain of its (i) shares of Common
Stock and (ii) warrants to purchase shares of Common Stock; 
 WHEREAS, in connection with the Mergers, the Stockholders have
agreed to execute and deliver this Agreement; 

 WHEREAS, as of immediately following the closing of the Mergers (the
“Closing”), each of the Stockholders will Beneficially Own (as defined below) the respective number of shares of Common Stock set forth on Annex A hereto; 

WHEREAS, the Stockholders in the aggregate Beneficially Own (as defined below) shares of Common Stock representing more than fifty
percent (50%) of the outstanding voting power of the Company; and 
 WHEREAS, the number of shares of Common Stock Beneficially Owned
by each Stockholder may change from time to time, in accordance with the terms of (x) the Certificate of Incorporation of the Company, as it may be amended, supplemented and/or restated from time to time (the “Charter”), (y)
the Bylaws of the Company, as it may be amended and/or restated from time to time (the “Bylaws”), and (z) the Lock-Up Agreements, which changes shall be reported by each Stockholder in
accordance with the applicable provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises and covenants hereinafter set forth and for other
good and valuable consideration, and intending to be legally bound hereby, the parties hereto agree to the following: 
 1.
Definitions. Capitalized terms used herein but not defined in this Agreement shall have the meanings ascribed to them in the Business Combination Agreement. In addition to the terms defined elsewhere in this Agreement, the following
terms shall have the meanings indicated when used in this Agreement with initial capital letters: 
 “Affiliate” shall have
the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations under the Exchange Act. 

“Beneficial Ownership” by a Person of any securities means that such Person is a beneficial owner of such securities in
accordance with Rule 13d-3 under the Exchange Act, including by the exercise or conversion of any security exercisable or convertible for shares of Common Stock (whether such acquisition may be made within
sixty (60) days or a longer period), but excluding shares of stock underlying unexercised options or warrants. The term “Beneficially Owned” shall have a correlative meaning. 

“Expiration Date” shall have the meaning ascribed to such term in the Escrow Agreement. 

“Independent Director” shall mean, regardless of whether an H.I.G. Designee or a Sponsor Designee, a person nominated for or
appointed to the Board of Directors who, as of the time of determination is independent for purposes of the NYSE Rules and the rules of the Securities and Exchange Commission. 

“Lock-Up Period” shall have the meaning ascribed to such term in the Lock-Up Agreements. 

  
 2 

 “Necessary Action” means, with respect to any party and a specified result,
all actions (to the extent such actions are not prohibited by applicable law, within such party’s control and do not directly conflict with any rights expressly granted to such party in this Agreement, the Business Combination Agreement, the Lock-Up Agreements, the Charter or the Bylaws of the Company) reasonably necessary and desirable within his, her or its control to cause such result, including, without limitation (i) calling special meetings
of the Board and the stockholders of the Company, (ii) causing the adoption of stockholders’ resolutions and amendments to the Charter or Bylaws of the Company, including executing written consents in lieu of meetings, (iii) executing
agreements and instruments, (iv) causing members of the Board (to the extent such members were elected, nominated or designated by the party obligated to undertake such action) to act (subject to any applicable fiduciary duties) in a certain
manner or causing them to be removed in the event they do not act in such a manner and (v) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are
required to achieve such a result. 
 “NYSE Rules” shall mean the New York Stock Exchange rules or other rules of a
national securities exchange upon which the Shares are listed or to which they are then subject. 
 “Permitted Transferees”
shall have the meaning ascribed to such term in the Registration Rights Agreement. 
 “Person” shall mean an individual,
corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization, government (or agency or political subdivision thereof) or any other entity. 

“Shares” shall mean the common stock of the Company. 

“Vesting Targets” shall have the meaning ascribed to such term in the Escrow Agreement. 

2. Board of Directors. 

2.1 Size of the Board. Subject to the terms and conditions of this Agreement, from the date of this Agreement, the Company shall take
all Necessary Action to (i) cause, effective immediately following the Effective Time, the Board to be comprised of nine (9) directors and (ii) ensure that the size of the Board remains at nine (9) directors, except as may
otherwise be approved by the Board of Directors, acting with the approval of a majority of the Independent Directors and the Sponsor Designees and the H.I.G. Designees. 

2.2 Board Composition. Subject to the terms and conditions of this Agreement, from the date of this Agreement, the Company shall take
all Necessary Action to ensure that the following persons shall be nominated for election to the Board at each annual meeting of the stockholders of the Company or at any special meeting of the stockholders of the Company at which elections to the
Board of Directors will be held: 
 2.2.1 three (3) Independent Directors, which individuals shall initially be Benjamin Tatta, Vineet
Mehra, and Kihara Kiarie (collectively, the “Independent Directors”) and shall thereafter be nominated by the Board (or any duly authorized committee thereof in accordance with the Charter, Bylaws, or other corporate governance
documents of the Company); provided, that at least one of the Independent Directors must qualify as an “audit committee financial expert” within the meaning of U.S. Securities and Exchange Commission Regulation S- K; 

  
 3 

 2.2.2 four (4) directors nominated by H.I.G. (the “H.I.G.
Designees”), for so long as H.I.G. Beneficially Owns 20% or more of the outstanding shares of Common Stock of the Company, three (3) directors nominated by H.I.G., for so long as H.I.G. Beneficially Owns 15% or more (but less than 20%)
of the outstanding shares of Common Stock of the Company, two (2) directors nominated by H.I.G., for so long as H.I.G. Beneficially Owns 10% or more (but less than 15%) of the outstanding shares of Common Stock of the Company, and one
(1) director nominated by H.I.G., for so long as H.I.G. Beneficially Owns 5% or more (but less than 10%) of the outstanding shares of Common Stock of the Company; 

2.2.3 one (1) director nominated by Sponsor (the “Sponsor Designee” and together with the H.I.G. Designees, the
“Designees”) for so long as Sponsor and its Affiliates Beneficially Own 1% or more of the outstanding shares of Common Stock of the Company; and 

2.2.4 one (1) director who shall be the individual serving as the Chief Executive Officer of the Company (the “CEO
Director”), which individual shall initially be James Lawson. 
 2.3 Decrease in Designees. 

2.3.1 Upon any decrease in the number of directors that H.I.G. or Sponsor is entitled to designate for nomination to the Board, H.I.G. or
Sponsor, as applicable, shall, at the request of the Board, take all Necessary Action to cause the appropriate number of Designees to offer to tender their resignation. 

2.3.2 If as a result of the provisions of Section 2.2.2 there are seats on the Board for which H.I.G. or Sponsor
does not have the right to nominate a director, the nomination of such director shall be conducted in accordance with applicable law and with the Charter, Bylaws of the Company, and the other corporate governance documents of the Company. 

2.4 Resignation; Removal; Vacancies. 

2.4.1 Any director may resign at any time upon written notice to the Board. 

2.4.2 (A) H.I.G. shall have the exclusive right to remove one or more of the H.I.G. Designees from the Board, and the Company shall take all
Necessary Action to cause the removal of any such H.I.G. Designee(s) at the written request of H.I.G. and (B) H.I.G. shall have the exclusive right, in accordance with Subsection 2.2.2, to nominate a director for election to the Board to
fill the vacancy created by reason of death, removal or resignation of a H.I.G. Designee, and the Company shall take all Necessary Action to cause any such vacancy to be filled by the replacement H.I.G. Designee nominated by H.I.G. as promptly as
reasonably practicable. 
 2.4.3 (A) Sponsor shall have the exclusive right to remove the Sponsor Designee from the Board, and the Company
shall take all Necessary Action to cause the removal of any such Sponsor Designee at the written request of Sponsor and (B) Sponsor shall have the exclusive right, in accordance with Subsection 2.2.3, to nominate a director for election
to the Board to fill the vacancy created by reason of death, removal or resignation of the Sponsor Designee, and the Company shall take all Necessary Action to cause any such vacancy to be filled by a replacement Sponsor Designee nominated by
Sponsor as promptly as reasonably practicable. 

  
 4 

 2.4.4 If at any time a Person serving as the CEO Director ceases to be the Chief Executive
Officer of the Company, the Company shall take all Necessary Action to cause the removal of such Person as the CEO Director and, at such time as a succeeding Chief Executive Officer is appointed by the Board, the appointment or election of such
Person as the CEO Director. 
 2.5 Committees. 

2.5.1 In accordance with the Charter, Bylaws, and other corporate governance documents of the Company, the Board may, from time to time by
vote or resolution, establish and maintain one or more committees of the Board. Subject to applicable laws, stock exchange regulations and applicable listing requirements, H.I.G. shall have the right to have one H.I.G. Designee appointed to serve on
each committee of the Board for so long as H.I.G. has the right to designate a director for election to the Board and an H.I.G. Designee is serving as a member of the Board. The Board may dissolve any committee or remove any member of a committee at
any time, provided that, for so long as H.I.G. has the right to designate a director for election to the Board (and an H.I.G. Designee is serving as a member of the Board), following any such removal, H.I.G. shall have the right to maintain
at least one H.I.G. Designee serving on such committee. 
 3. Representations and Warranties of each Stockholder. Each
Stockholder on its own behalf hereby represents and warrants to the Company and the other Stockholders, severally and not jointly, with respect to such Stockholder and such Stockholder’s ownership of his, her or its Shares set forth on Annex
A, as of the date of this Agreement, as follows: 
 3.1 Organization; Authority. If Stockholder is a legal entity, Stockholder
(i) is duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization and (ii) has all requisite power and authority to enter into this Agreement and to perform
its obligations hereunder. If Stockholder is a natural person, Stockholder has the legal capacity to enter into this Agreement and perform his or her obligations hereunder. If Stockholder is a legal entity, this Agreement has been duly authorized,
executed and delivered by Stockholder. This Agreement constitutes a valid and binding obligation of Stockholder enforceable in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

3.2 No Consent. Except as provided in this Agreement, no consent, approval or authorization of, or designation, declaration or filing
with, any Governmental Authority or other Person on the part of Stockholder is required in connection with the execution, delivery and performance of this Agreement, except where the failure to obtain such consents, approvals, authorizations or to
make such designations, declarations or filings would not materially interfere with a Stockholder’s ability to perform his, her or its obligations pursuant to this Agreement. If Stockholder is a natural person, no consent of such
Stockholder’s spouse is necessary under any “community property” or other laws for the execution and delivery of this Agreement or the performance of Stockholder’s obligations hereunder. If Stockholder is a trust, no consent of
any beneficiary is required for the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. 

  
 5 

 3.3 No Conflicts; Litigation. Neither the execution and delivery of this Agreement,
nor the consummation of the transactions contemplated hereby, nor compliance with the terms hereof, will (A) if such Stockholder is a legal entity, conflict with or violate any provision of the organizational documents of Stockholder, or
(B) violate, conflict with or result in a breach of, or constitute a default (with or without notice or lapse of time or both) under any provision of, any trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease or
other agreement, instrument, permit, concession, franchise, license, judgment, order, notice, decree, statute, law, ordinance, rule or regulation applicable to Stockholder or to Stockholder’s property or assets, except, in the case of clause
(B), that would not reasonably be expected to impair, individually or in the aggregate, Stockholder’s ability to fulfill its obligations under this Agreement. As of the date of this Agreement, there is no Action pending or, to the knowledge of
a Stockholder, threatened, against such Stockholder or any of Stockholder’s Affiliates or any of their respective assets or properties that would materially interfere with such Stockholder’s ability to perform his, her or its obligations
pursuant to this Agreement or that would reasonably be expected to prevent, enjoin, alter or delay any of the transactions contemplated by this Agreement. 

3.4 Ownership of Shares. Stockholder Beneficially Owns his, her or its Shares free and clear of all encumbrances, other than as set
forth in the Lock-Up Agreements, the Registration Rights Agreement and this Agreement. Except pursuant to this Agreement, the Business Combination Agreement and the Registration Rights Agreement, there are no
options, warrants or other rights, agreements, arrangements or commitments of any character to which Stockholder is a party relating to the pledge, acquisition, disposition, Transfer or voting of Shares and there are no voting trusts or voting
agreements with respect to the Shares. Stockholder does not Beneficially Own (i) any shares of capital stock of the Company other than the Shares set forth on Annex A and (ii) any options, warrants or other rights to acquire any
additional shares of capital stock of the Company or any security exercisable for or convertible into shares of capital stock of the Company, other than as set forth on Annex A. 

4. Covenants of the Company. 

4.1 The Company shall: (i) take any and all action reasonably necessary to effect the provisions of this Agreement and the intention of
the parties with respect to the terms of this Agreement; (ii) not take any action that would reasonably be expected to adversely frustrate, obstruct or otherwise affect the rights of H.I.G. under this Agreement without the prior written consent
of H.I.G.; and (iii) not take any action that would reasonably be expected to adversely frustrate, obstruct or otherwise affect the rights of the Sponsor under this Agreement without the prior written consent of the Sponsor. 

4.2 The Company shall (i) purchase and maintain in effect at all times directors’ and officers’ liability insurance in an amount
and pursuant to terms determined by the Board to be reasonable and customary, (ii) for long as any director nominated pursuant to this Agreement serves as a director on the Board, maintain such coverage with respect to such director, and
(iii) cause the Charter and Bylaws of the Company (each as may be further amended, modified and/or 

  
 6 

 
supplemented) to at all times provide for the indemnification, exculpation and advancement of expenses of all directors of the Company to the fullest extent permitted under applicable law;
provided, that upon removal or resignation of any director for any reason, the Company shall take all actions reasonable necessary to extend such directors’ and officers’ liability insurance coverage for a period of not less than
six (6) years from any such event in respect of any act or omission occurring at or prior to such event. 
 4.3 The Company shall pay
all reasonable out-of-pocket expenses incurred by the directors in connection with the performance of his or her duties as a director and in connection with his or her
attendance at any meeting of the Board. The Company shall enter into customary indemnification agreements with each director and officer of the Company from time to time. 

5. No Agreement as Director or Officer. Each Stockholder is signing this Agreement solely in his, her or its capacity as a
stockholder of the Company. No Stockholder makes any agreement or understanding in this Agreement in such Stockholder’s capacity as a director or officer of the Company or any of its Subsidiaries (if Stockholder holds such office). Nothing in
this Agreement will limit or affect any actions or omissions taken by a Stockholder in his, her or its capacity as a director or officer of the Company, and no actions or omissions taken in such Stockholder’s capacity as a director or officer
shall be deemed a breach of this Agreement. Nothing in this Agreement will be construed to prohibit, limit or restrict a Stockholder from exercising his or her fiduciary duties as an officer or director to the Company or its stockholders. 

6. Termination. Following the Closing, this Agreement shall terminate automatically (without any action by any party hereto) on
the first date on which no Stockholder has the right to designate a director to the Board under this Agreement; provided, that the provisions in Section 4.2 shall survive such termination. 

7. Miscellaneous. 

7.1 Notices. Any notice or communication under this Agreement must be in writing and given by (a) deposit in the United States
mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (b) delivery in person or by courier service providing evidence of delivery, or (c) transmission by hand delivery,
electronic mail or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business
day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered to the addressee (except in the case of electronic mail, with the
delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: AdTheorent Holding Company, Inc.,
330 Hudson Street, 13th Floor, New York, NY 10013, Attn: James Lawson with a copy to Paul Hastings LLP, 71 South Wacker Drive, Suite 4500, Chicago, IL 60606, Attn: Amit Mehta, email: amitmehta@paulhastings.com, if to the Sponsor, to MCAP
Acquisition, LLC, 311 South Wacker Drive, Suite 6400, Chicago, Illinois 60606, Attn: Peter Gruszka, email: pgruszka@monroecap.com with a copy to Greenberg Traurig, P.A., 333 SE 2nd Avenue, Suite 4400, Miami, FL 33131, Attn: Alan I. Annex, email:
annexa@gtlaw.com, and, if to any Stockholder, to the address or email address, as applicable, of such party set forth on Annex A hereto. Any party may change its address for notice at any time and from time to time by written notice to the
other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as provided in this Section 7.1. 

  
 7 

 7.2 Assignment; No Third Party Beneficiaries. 

7.2.1 Subject to Section 7.2.3, this Agreement and the rights, duties and obligations of the Company, as the case may be, hereunder may
not be assigned or delegated by the Company, as the case may be, in whole or in part. 
 7.2.2 Prior to the expiration of the Lock-Up Period applicable to a Stockholder, such Stockholder may not assign or delegate such Stockholder’s rights, duties or obligations under this Agreement, in whole or in part, in violation of the applicable
Lock-Up Period, except in connection with a transfer of Registrable Securities (as defined in the Registration Rights Agreement) by such Stockholder to a Permitted Transferee but only if such Permitted
Transferee agrees to become bound by the transfer restrictions set forth in this Agreement. 
 7.2.3 This Agreement and the provisions
hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the applicable Stockholders, which shall include Permitted Transferees. 

7.2.4 This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in
this Agreement. 
 7.2.5 No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding
upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 7.1 hereof and (ii) the written agreement of the assignee, in a form
reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in this
Section 7.2 shall be null and void. 
 7.3 Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced. Counterparts may be delivered via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective
for all purposes. 
 7.4 Jurisdiction. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter
arising out of or in connection with, this Agreement shall be brought against any of the parties in the United States District Court for the District of Delaware or any Delaware state court located in Wilmington, Delaware, and each of the parties
hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein. Process in any such suit, action or proceeding may be served
on any party anywhere in the world, whether within or without the jurisdiction of any such court. 

  
 8 

 7.5 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 
 7.6 Amendments and
Modifications. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Company, H.I.G., if at the time of such amendment or waiver H.I.G is entitled to designate a
director pursuant to Section 2.2.2, and Sponsor, if at the time of such amendment or waiver Sponsor is entitled to designate a director pursuant to Section 2.2.3. No failure or delay by any party in exercising any right, power or privilege
hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be
cumulative and not exclusive of any rights or remedies provided by law. 
 7.7 Severability. In the event that any provision of this
Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

7.8 Specific Enforcement. It is agreed and understood that monetary damages would not adequately compensate an injured party for the
breach of this Agreement by any party hereto and, accordingly, that this Agreement shall be specifically enforceable, in addition to any other remedy to which such injured party is entitled at law or in equity, and that any breach of this Agreement
shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach or an award of specific
performance is not an appropriate remedy for any reason at law or equity and agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties under this Agreement were not carried out in accordance
with the terms and conditions hereof. Each party further agrees that no party shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtain any remedy referred to in this
Section 7.8, and each party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

7.9 Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties, and supersedes any
prior agreement or understanding among the parties, with regard to the subject matter hereof, and no party shall be liable or bound to any other party in any manner by any warranties, representations or covenants except as specifically set forth
herein. 
 [Remainder of Page Intentionally Left Blank; Signature Pages Follow] 

  
 9 

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

			
	COMPANY:
	
	ADTHEORENT HOLDING COMPANY, INC.
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Chief Executive Officer

  
 (Signature Page to
Stockholders’ Agreement) 

			
	H.I.G. GROWTH – ADTHEORENT, LLC
		
	By:	 	/s/ Richard Siegel
	Name: Richard Siegel
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	MCAP ACQUISITION, LLC
		
	By:	 	/s/ Peter Gruszka
	Name: Peter Gruszka
	Title:   General Counsel and Managing Director

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE CAPITAL CORPORATION
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE CAPITAL PRIVATE CREDIT FUND II LP
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE CAPITAL PRIVATE CREDIT II (UNLEVERAGED) LP
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE PRIVATE CREDIT FUND A LP
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE CAPITAL PRIVATE CREDIT FUND I LLP
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

			
	STOCKHOLDER:
	
	MONROE CAPITAL PARTNERS FUND LP
		
	By:	 	/s/ Theodore Koenig
	Name: Theodore Koenig
	Title:   Authorized Signatory

  
 (Signature Page to
Stockholders’ Agreement) 

 ANNEX A 

 ANNEX A 

 

					
	 Stockholder
	  	Common Stock	 
	 H.I.G. Growth – AdTheorent, LLC
	  	 	34,064,174	 
	 MCAP Acquisition, LLC
	  	 	2,994,375	 
	 Monroe Capital Corporation
	  	 	177,362	 
	 Monroe Capital Partners Fund LP
	  	 	248,307	 
	 Monroe Capital Private Credit Fund I LP
	  	 	601,163	 
	 Monroe Capital Private Credit Fund II

(Unleveraged) LP
	  	 	65,301	 
	 Monroe Capital Private Credit Fund II LP
	  	 	198,610	 
	 Monroe Capital Private Credit Fund A LP
	  	 	354,724

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