Document:

Exhibit 10.2

 

STOCK ESCROW AGREEMENT

 

STOCK ESCROW AGREEMENT, dated
as of October 20, 2021 (“Agreement”), by and among Accretion Acquisition Corp., a Delaware corporation (“Company”),
the stockholders of the Company listed on Exhibit A hereto (the “Initial Stockholders”) and Continental Stock Transfer &
Trust Company, a New York limited purpose trust company (“Escrow Agent”).

 

WHEREAS, the Company was formed
for the purpose of completing a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar
business combination (a “Business Combination”) with one or more businesses or entities.

 

WHEREAS, Accretion Acquisition
Sponsor LLC (“Sponsor”) purchased an aggregate of 4,312,500 shares of the Company’s common stock, par value $0.001 per
share (“Common Stock”) in a private placement.

 

WHEREAS, in October 2021,
the Company effected a dividend of 0.2 shares of common stock for each outstanding share of common stock resulting in there being an aggregate
of 5,175,000 shares of Common Stock held by the Initial Stockholders.

 

WHEREAS, the Company has entered
into an Underwriting Agreement, dated October 20, 2021 (“Underwriting Agreement”), with EarlyBirdCapital, Inc. and
Stephens Inc. (the “Representatives”) acting as representative of the several
underwriters (collectively, the “Underwriters”), pursuant to which, among other matters, the Underwriters have agreed to purchase
18,000,000 units (“Units”) of the Company, plus up to an additional 2,700,000 Units if the Representatives exercise the over-allotment
option in full. Each Unit consists of one share of Common Stock, one right to receive one-tenth of one share of Common Stock, and one-half
of one warrant (“Warrant”), each whole Warrant to purchase one share of Common Stock, all as more fully described in the Company’s
final Prospectus, dated October 20, 2021 (“Prospectus”) comprising part of the Company’s Registration Statement
on Form S-1 (File No. 333-258925) under the Securities Act of 1933, as amended (“Registration Statement”), declared
effective on October 20, 2021 (“Effective Date”) and the automatically effective Form S-1MEF (File No. 333-260392).

 

WHEREAS, the Initial Stockholders
have agreed as a condition of the sale of the Units to deposit their shares of Common Stock of the Company in escrow as hereinafter provided.

 

WHEREAS, the Company and the
Initial Stockholders desire that the Escrow Agent accept the shares of Common Stock, in escrow, to be held and disbursed as hereinafter
provided.

 

IT IS AGREED:

 

1.            Appointment
of Escrow Agent. The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject to
the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such
terms.

 

2.            Deposit
of Shares. On or before the Effective Date, the Initial Stockholders’ respective shares of Common Stock set forth on
Exhibit A hereto shall be deposited in escrow, to be held and disbursed subject to the terms and conditions of this
Agreement. The Initial Stockholders acknowledge that the shares deposited in escrow will be legended to reflect the deposit of such
shares under this Agreement.

 

     

     

    

 

3.             Disbursement
of the Escrow Shares.

 

3.1            If
the over-allotment option to purchase all or a portion of the additional 2,700,000 Units of the Company is not exercised in full within
45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Sponsor agrees that the Escrow Agent shall return
to the Company for cancellation, at no cost, the number of shares of Common Stock determined by multiplying 675,000 by a fraction, (i) the
numerator of which is 2,700,000 minus the number of shares of Common Stock included in the Units purchased by the Underwriters upon the
exercise of the over-allotment option, and (ii) the denominator of which is 2,700,000. The Company shall promptly provide notice
to the Escrow Agent of the expiration or termination of the over-allotment option and the number of Units, if any, purchased by the Underwriters
in connection with the exercise thereof.

 

3.2            Except
as otherwise set forth herein, the Escrow Agent shall hold the shares remaining after any cancellation required pursuant to Section 3.1
above (such remaining shares to be referred to herein as the “Escrow Shares”) until the six-month anniversary of the date
of the consummation of the Company’s initial Business Combination or earlier if, subsequent to the initial Business Combination,
the Company consummates a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s
stockholders having the right to exchange their shares of Common Stock for cash, securities or other property (such period of time during
which the Escrow Shares are held in escrow, the “Escrow Period”). Upon the achievement of any of the conditions set forth
above, the Company shall promptly provide notice to the Escrow Agent, in form reasonably acceptable to the Escrow Agent. Upon completion
of the Escrow Period, the Escrow Agent shall disburse such amount of each Initial Stockholder’s Escrow Shares to the applicable
Initial Stockholder. The Escrow Agent shall have no further duties hereunder after the disbursement of the Escrow Shares in accordance
with this Section 3.2.

 

3.3            Notwithstanding
the provisions of Section 3.2, if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company’s
Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company
and the Escrow Agent as trustee thereunder) is being liquidated, then the Escrow Agent shall deliver the certificates representing the
Escrow Shares to the Initial Stockholders promptly after the public stockholders are paid the liquidating distributions and shall have
no further duties hereunder.

 

4.             Rights
of Initial Stockholders in Escrow Shares.

 

4.1            Voting
Rights as a Stockholder. Subject to the terms of the Insider Letter described in Section 4.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as a stockholder of the Company as long as any shares are held in escrow pursuant
to this Agreement, including, without limitation, the right to vote such shares.

 

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4.2            Dividends
and Other Distributions in Respect of the Escrow Shares. For as long as any shares are held in escrow pursuant to this Agreement,
all dividends payable in cash with respect to the Escrow Shares shall be paid to the Initial Stockholders, but all dividends payable in
stock or other non-cash property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance with
the terms hereof. As used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon,
if any.

 

4.3            Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be except (i) to officers, directors,
consultants or affiliates of the Initial Stockholders or the Company, (ii) to the Sponsor’s stockholders, partners or members
upon the Sponsor’s liquidation (such persons, together with the persons referred to in clause (i), being referred to as “Permitted
Transferees”), (iii) by bona fide gift to a member of a Permitted Transferee’s immediate family or to a trust, the beneficiary
of which is a Permitted Transferee or a member of a Permitted Transferee’s immediate family for estate planning purposes, (iv) by
virtue of the laws of descent and distribution upon death of a Permitted Transferee, (v) pursuant to a qualified domestic relations
order binding on a Permitted Transferee, (vi) to the Company for no value for cancellation in connection with the consummation of
a Business Combination or (vii) by private sales made at or prior to the consummation of a Business Combination at prices no greater
than the price at which the Escrow Shares were originally purchased; provided, however, that except for clause (vi) or with the Company’s
prior written consent, such permitted transfers may be implemented only upon the respective transferee’s written agreement to be
bound by the terms of this Agreement and the Insider Letter.

 

4.4            Insider
Letter. The Initial Stockholders have executed a letter agreement with the Company and the Representatives, dated as of the date hereto,
the form of which is filed as an exhibit to the Registration Statement (“Insider Letter”), respecting the rights and obligations
of such Initial Stockholder in certain events, including, but not limited to, the liquidation of the Company.

 

5.             Concerning
the Escrow Agent.

 

5.1            Good
Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise of its
own best judgment, and 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 Escrow Agent), statement, instrument, report or other paper or document (not only as
to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information
therein contained) which is believed by the Escrow Agent in good faith to be genuine and to be signed or presented by the proper person
or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this
Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights
of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

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5.2            Indemnification.
Subject to Section 5.8 below, the Escrow Agent shall be indemnified and held harmless by the Company from and against any
expenses, including reasonable counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any
action, suit or other proceeding involving any claim which in any way, directly or indirectly, arises out of or relates to this
Agreement, the services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses
arising from the gross negligence, fraud or willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow Agent
of notice of any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other
parties hereto in writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an
action in the nature of interpleader in an appropriate court to determine ownership or disposition of the Escrow Shares or it may
deposit the Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt of a final,
non-appealable order of a court having jurisdiction over all of the parties hereto directing to whom and under what circumstances
the Escrow Shares are to be disbursed and delivered. The provisions of this Section 5.2 shall survive in the event the Escrow
Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3            Compensation.
Subject to Section 5.8 below, the Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered
by it hereunder. The Escrow Agent shall also be entitled to reimbursement from the Company for all reasonable expenses paid or incurred
by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors’ and agents’ fees
and disbursements and all taxes or other governmental charges.

 

5.4            Further
Assurances. From time to time on and after the date hereof, the Company and the Initial Stockholders shall deliver or cause to be
delivered to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow
Agent shall reasonably request to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith
or to assure itself that it is protected in acting hereunder.

 

5.5            Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties hereto
written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time
that the Escrow Agent shall turn the Escrow Shares over to a successor escrow agent appointed by the Company and approved by the Representatives,
which approval will not be unreasonably withheld, conditioned or delayed. If no new escrow agent is so appointed within the 60-day period
following the giving of such notice of resignation, the Escrow Agent may deposit the Escrow Shares with any court it reasonably deems
appropriate in the State of New York.

 

5.6            Discharge
of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested in writing
at any time by all of the other parties hereto; provided, however, that such resignation shall become effective only upon the appointment
of a successor escrow agent selected by the Company and approved by the Representatives, which approval will not be unreasonably withheld,
conditioned or delayed.

 

5.7            Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross negligence,
fraud or willful misconduct.

 

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5.8            Waiver.
The Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in,
or to any distribution of, the Trust Account and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim
against the Trust Account for any reason whatsoever.

 

6.             Miscellaneous.

 

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

 

6.2            Third
Party Beneficiaries. Each of the parties to this Agreement hereby acknowledges that the Representatives are third party beneficiaries
of this Agreement.

 

6.3            Entire
Agreement. This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and, except
as expressly provided herein, may only be changed, amended, or modified by a writing signed by each of the parties hereto.

 

6.4            Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
thereof.

 

6.5            Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

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

 

If to the Company, to:

 

                Accretion
Acquisition Corp.

410 17th Street, #1110

Denver, CO 80202

Attn: Brad Morse

E-mail: Brad@fulcrumef.com

 

 

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If to the Initial Stockholders, to
his or its address set forth in Exhibit A.

 

and if to the Escrow Agent, to:

 

                Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Client Administration Dept.

Email: accountadmin@continentalstock.com

 

A copy of any notice sent hereunder
shall be sent to:

 

                EarlyBirdCapital, Inc.

366 Madison Ave 8th Floor

New York, NY 10017

Attn: Steven Levine

Email: slevine@ebccap.com

 

Stephens Inc.

65 E 55th Street, 22nd Floor

New York, NY 10022

Attn: Keith Behrens

Email:
keith.behrens@stephens.com

 

with a copy to:

 

                Graubard
Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq. / Jeffrey M. Gallant, Esq.

Email: dmiller@graubard.com / jgallant@graubard.com

 

		and:	

 

                Davis
Graham & Stubbs LLP

1550 17th Street, Suite 500

Denver, Colorado 80202

Attn: John Elofson

Sam Seiberling

Sam Niebrugge

E-mail:
John.Elofson@dgslaw.com

Sam.Seiberling@dgslaw.com

Sam.Niebrugge@dgslaw.com

 

    -6-

     

    

 

The parties may change the
persons and addresses to which the notices or other communications are to be sent by giving written notice to any such change in the
manner provided herein for giving notice.

 

6.7            Liquidation
of the Trust Account. The Company shall give the Escrow Agent written notification of the liquidation of the Trust Account in the
event that the Company fails to consummate a Business Combination within the time period specified in the Company’s Amended and
Restated Certificate of Incorporation, as the same may be amended from time to time.

 

6.8            Counterparts.
This Agreement may be executed in several counterparts, each one of which shall constitute an original and may be delivered by facsimile
transmission and together shall constitute one instrument.

 

[Signature Page Follows]

 

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WITNESS the execution of
this Agreement as of the date first above written.

 

	 	 
	 	ACCRETION ACQUISITION
    CORP.
	 	 
	 	By: 	/s/
    Brad Morse
	 	Name: Brad Morse
	 	Title: Chief Executive
    Officer
	 	 
	 	CONTINENTAL STOCK
    TRANSFER & TRUST COMPANY
	 	 
	 	By: 	/s/
    Steven Vacante
	 	Name: Steven Vacante
	 	Title: Vice President
	 	 
	 	ACCRETION ACQUISITION
    SPONSOR LLC
	 	 
	 	By:	/s/
    Brad Morse
	 	Name: Brad Morse
	 	Title: President
	 	 
	 	/s/
    Charles Gwirtsman
	 	Charles Gwirtsman
	 	 
	 	/s/
    Ron Maor
	 	Ron Maor
	 	 
	 	/s/
    Daniel Posner
	 	Daniel Posner
	 	 
	 	/s/
    Cary Steinbeck
	 	Cary Steinbeck
	 	 
	 	/s/
    Chris Wright
	 	Chris Wright

 

[Signature
Page to Stock Escrow Agreement]

 

     

     

    

 

EXHIBIT A

 

	Name and Address of Sponsor	 	Number of
    Shares	 
	Accretion
                                            Acquisition Sponsor LLC
 c/o
                                            Accretion Acquisition Corp.
 410
                                            17th Street, #1110
 Denver, CO 80202
  
	 	 	4,875,000	 
	Charles Gwirtsman 
900 Pennsylvania St., Unit 500 
Denver,
    Colorado 80203 
	 	 	60,000	 
	Ron Maor 
24 Habanim St. 
Ramat Hasharon 
4722301
    
Israel 
	 	 	60,000	 
	Daniel Posner 
500 West End Ave. 
New York, New York
    10024 
	 	 	60,000	 
	Cary Steinbeck 
85 Bayview Dr. 
Manhattan Beach, California
    90266 
	 	 	60,000	 
	Chris Wright 
950 17th Street, Suite 2400 
Denver,
    Colorado 80202 
	 	 	60,000	 
	TOTAL	 	 	5,175,000	 

 

    A-1Exhibit 10.3

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”) is entered into as of October 20, 2021, by and among Accretion Acquisition Corp., a
Delaware corporation (the “Company”), and the undersigned parties listed under Investors on the signature page hereto
(each, an “Investor” and collectively, the “Investors”).

 

WHEREAS, the Investors and
the Company desire to enter into this Agreement to provide the Investors with certain rights relating to the registration of the securities
held by them as of the date hereof or that may be held by them upon consummation of a Business Combination (defined below);

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

1.            DEFINITIONS.
The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business Combination”
means the acquisition of direct or indirect ownership through a merger, stock exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar type of transaction, of one or more businesses or entities.

 

“Commission”
means the Securities and Exchange Commission, or any other federal agency then administering the Securities Act or the Exchange Act.

 

“Common Stock”
means the common stock, par value $0.001 per share, of the Company.

 

“Company”
is defined in the preamble to this Agreement.

 

“Demand Registration”
is defined in Section 2.1.1.

 

“Demanding Holder”
is defined in Section 2.1.1.

 

“EarlyBird”
means EarlyBirdCapital, Inc.

 

“EBC Founder Shares”
means the 120,000 shares of Common Stock of the Company issued to EarlyBird prior to the Company’s initial public offering.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all
as the same shall be in effect at the time.

 

“Form S-3”
is defined in Section 2.3.

 

     

     

    

 

“Founder Shares”
means the 5,175,000 shares of Common Stock of the Company issued to its initial stockholders prior to the Company’s initial public
offering.

 

“Indemnified Party”
is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Investor”
is defined in the preamble to this Agreement.

 

“Investor Indemnified
Party” is defined in Section 4.1.

 

“Maximum Number
of Shares” is defined in Section 2.1.4.

 

“Notices”
is defined in Section 6.3.

 

“Piggy-Back Registration”
is defined in Section 2.2.1.

 

“Private Warrants”
means the Warrants certain of the Investors are privately purchasing simultaneously with the consummation of the Company’s initial
public offering.

 

“Pro Rata”
is defined in Section 2.1.4.

 

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

 

“Registrable Securities”
means (i) the Founder Shares, (ii) the Private Warrants (and underlying Common Stock), (iii) the Working Capital Warrants
(and underlying Common Stock), if any, and (iv) the EBC Founder Shares. Registrable Securities include any warrants, shares of capital
stock or other securities of the Company issued as a dividend or other distribution with respect to or in exchange for or in replacement
of such Registrable Securities. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities
when: (a) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act
and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such
securities shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have
been delivered by the Company, and subsequent public distribution of them shall not require registration under the Securities Act; (c) such
securities shall have ceased to be outstanding, or (d) the Registrable Securities are freely saleable under Rule 144 under the
Securities Act without volume limitations.

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities
Act and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or
other obligations exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on
Form S-4 or Form S-8, or their successors, or any registration statement covering only securities proposed to be issued in
exchange for securities or assets of another entity).

 

    2 

     

    

 

“Release Date”
means the date on which the Founder Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement
dated on or about the date hereof by and among the holders of Founder Shares and Continental Stock Transfer & Trust Company.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the
same shall be in effect at the time.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of such dealer’s
market-making activities.

 

“Warrants”
means the warrants of the Company, each whole warrant entitling the holder to purchase one share of Common Stock at a price of $11.50
per share.

 

“Working Capital
Warrants” means any Warrants held by Investors, officers or directors of the Company or their affiliates which may be issued
in payment of working capital loans made to the Company.

 

2.            REGISTRATION
RIGHTS.

 

2.1            Demand
Registration.

 

2.1.1            Request
for Registration. At any time and from time to time on or after (i) the date that is three months prior to the Release Date
with respect to the Founder Shares or (ii) the date that the Company consummates a Business Combination with respect to all
other Registrable Securities, the holders of a majority-in-interest of such Founder Shares, Private Warrants (or underlying
securities), Working Capital Warrants (or underlying Common Stock). EBC Founder Shares or other Registrable Securities, as the case
may be, held by the Investors, officers or directors of the Company or their affiliates or EarlyBird, or the transferees of the
Investors, may make a written demand for registration under the Securities Act of all or part of their Founder Shares, Private
Warrants (or underlying securities), Working Capital Warrants (or underlying Common Stock), EBC Founder Shares or other Registrable
Securities, as the case may be (a “Demand Registration”). Any demand for a Demand Registration shall
specify the number of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof.
The Company will, within ten (10) days of the Company’s receipt of the Demand Registration, notify all holders of
Registrable Securities of the demand, and each holder of Registrable Securities who wishes to include all or a portion of such
holder’s Registrable Securities in the Demand Registration (each such holder including shares of Registrable Securities in
such registration, a “Demanding Holder”) shall so notify the Company within fifteen (15) days after the
receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders shall be entitled to have their
Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in
Section 3.1.1. The Company shall not be obligated to effect more than an aggregate of two (2) Demand Registrations under
this Section 2.1.1 in respect of all Registrable Securities. Notwithstanding anything to the contrary in this
Section 2.1.1, EarlyBird will be entitled to request a Demand Registration on only one occasion, and only during the five-year
period beginning on the effective date of the registration statement for the Company’s initial public offering.

 

    3 

     

    

 

2.1.2            Effective
Registration. A registration will not count as a Demand Registration until the Registration Statement filed with the Commission with
respect to such Demand Registration has been declared effective and the Company has complied with all of its obligations under this Agreement
with respect thereto; provided, however, that if, after such Registration Statement has been declared effective, the offering of Registrable
Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of the Commission or any other governmental
agency or court, the Registration Statement with respect to such Demand Registration will be deemed not to have been declared effective,
unless and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest
of the Demanding Holders thereafter elect to continue the offering; provided, further, that the Company shall not be obligated to file
a second Registration Statement until a Registration Statement that has been filed is counted as a Demand Registration or is terminated.

 

2.1.3            Underwritten
Offering. If a majority-in-interest of the Demanding Holders so elect and such holders so advise the Company as part of their written
demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form
of an underwritten offering. In such event, the right of any holder to include its Registrable Securities in such registration shall be
conditioned upon such holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities
in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their Registrable Securities through
such underwriting shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for such
underwriting by a majority-in-interest of the holders initiating the Demand Registration.

 

2.1.4            Reduction
of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering
advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which
the Demanding Holders desire to sell, taken together with all other shares of Common Stock or other securities which the Company
desires to sell and the shares of Common Stock, if any, as to which registration has been requested pursuant to written contractual
piggy-back registration rights held by other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or
maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the timing, the
distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of shares,
as applicable, the “Maximum Number of Shares”), then the Company shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in
accordance with the number of shares that each such person has requested be included in such registration, regardless of the number
of shares held by each such person (such proportion is referred to herein as “Pro Rata”)) that can be sold
without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (i), the shares of Common Stock or other securities that the Company desires to sell that can be
sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clauses (i) and (ii), the Registrable Securities of holders exercising their piggy-back
registration rights pursuant to Section 2.2; and (iv) fourth, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clauses (i), (ii), and (iii), the shares of Common Stock or other securities for the account of other
persons that the Company is obligated to register pursuant to written contractual arrangements with such persons and that can be
sold without exceeding the Maximum Number of Shares.

 

    4 

     

    

 

2.1.5            Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all of their
Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from such offering by
giving written notice to the Company and the Underwriter or Underwriters of their request to withdraw prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then such registration shall not count as a Demand Registration
provided for in Section 2.1.

 

2.2            Piggy-Back
Registration.

 

2.2.1            Piggy-Back
Rights. If at any time on or after the date the Company consummates a Business Combination the Company proposes to file a
Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for shareholders of
the Company for their account (or by the Company and by shareholders of the Company including, without limitation, pursuant to
Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for
an offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then
the Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon as
practicable but in no event less than ten (10) days before the anticipated filing date, which notice shall describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the
proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities
in such notice the opportunity to register the sale of such number of shares of Registrable Securities as such holders may request
in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”). The
Company shall cause such Registrable Securities to be included in such registration and shall use its best efforts to cause the
managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be
included in a Piggy-Back Registration on the same terms and conditions as any similar securities of the Company and to permit the
sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All
holders of Registrable Securities proposing to distribute their securities through a Piggy-Back Registration that involves an
Underwriter or Underwriters shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters
selected for such Piggy-Back Registration.

 

    5 

     

    

 

2.2.2            Reduction
of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering advises
the Company and the holders of Registrable Securities in writing that the dollar amount or number of shares of Common Stock which the
Company desires to sell, taken together with shares of Common Stock, if any, as to which registration has been demanded pursuant to separate
written contractual arrangements with persons or entities other than the holders of Registrable Securities hereunder, the Registrable
Securities as to which registration has been requested under this Section 2.2, and the shares of Common Stock, if any, as to which
registration has been requested pursuant to the written contractual piggy-back registration rights of other stockholders of the Company,
exceeds the Maximum Number of Shares, then the Company shall include in any such registration:

 

(a)            If
the registration is undertaken for the Company’s account: (A) the shares of Common Stock or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock or other securities, if any, comprised of Registrable
Securities, as to which registration has been requested pursuant to the applicable written contractual piggy-back registration rights
of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (C) to the extent that the
Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual piggy-back registration rights
with such persons and that can be sold without exceeding the Maximum Number of Shares; and

 

(b)            If
the registration is a “demand” registration undertaken at the demand of persons other than either the holders of
Registrable Securities, (A) first, the shares of Common Stock or other securities for the account of the demanding persons that
can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock or other securities that the Company desires to sell
that can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (A) and (B), collectively, the shares of Common Stock or other securities
comprised of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof, that can be
sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other securities for the account of
other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons, that can be
sold without exceeding the Maximum Number of Shares.

 

    6 

     

    

 

2.2.3            Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities in any
Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the Registration
Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written
contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such Registration Statement.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection
with such Piggy-Back Registration as provided in Section 3.3.

 

2.2.4            Unlimited
Piggy-Back Registration Rights. For the avoidance of doubt, any registration effected pursuant to Section 2.2 hereof shall not
be counted as a registration pursuant to a Demand Registration effected pursuant to Section 2.1 hereof. The holders of Registrable
Securities may participate in an unlimited number of Piggy-Back Registrations. Anything to the contrary set forth herein notwithstanding,
EarlyBird may participate in a Piggy-Back Registration only during the seven-year period beginning on the effective date of the registration
statement for the Company’s initial public offering.

 

2.3            Registrations
on Form S-3. The holders of Registrable Securities may at any time and from time to time request in writing that the
Company register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration
which may be available at such time (“Form S-3”); provided, however, that the Company shall not be
obligated to effect such request through an underwritten offering. Upon receipt of such written request, the Company will promptly
give written notice of the proposed registration to all other holders of Registrable Securities, and each holder of Registrable
Securities who thereafter wishes to include all or a portion of such holder’s Registrable Securities in such registration
shall notify the Company in writing within fifteen (15) days after the receipt by the holder of the notice from the Company and, as
soon as practicable thereafter, the Company shall effect the registration of all or such portion of such holder’s or
holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable
Securities or other securities of the Company, if any, of any other holder or holders joining in such request; provided, however,
that the Company shall not be obligated to effect any such registration pursuant to this Section 2.3: (i) if
Form S-3 is not available for such offering; or (ii) if the holders of the Registrable Securities, together with the
holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities
and such other securities (if any) at any aggregate price to the public of less than $500,000. Registrations effected pursuant to
this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1.

 

    7 

     

    

 

3.            REGISTRATION
PROCEDURES.

 

3.1            Filings;
Information. Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section 2,
the Company shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended
method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1            Filing
Registration Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of a request for a Demand
Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any form for which the Company
then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the sale of all Registrable
Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall use its best
efforts to cause such Registration Statement to become effective and use its best efforts to keep it effective for the period required
by Section 3.1.3; provided, however, that the Company shall have the right to defer any Demand Registration for up to thirty (30)
days, and any Piggy-Back Registration for such period as may be applicable to deferment of any demand registration to which such Piggy-Back
Registration relates, in each case if the Company shall furnish to the holders a certificate signed by the Chief Executive Officer, President
or Chairman of the Company stating that, in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental
to the Company and its shareholders for such Registration Statement to be effected at such time; provided further, however, that the Company
shall not have the right to exercise the right set forth in the immediately preceding proviso more than once in any 365-day period in
respect of a Demand Registration hereunder.

 

3.1.2            Copies.
The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge
to the holders of Registrable Securities included in such registration, and such holders’ legal counsel, copies of such Registration
Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto
and documents incorporated by reference therein), the prospectus included in such Registration Statement (including each preliminary prospectus),
and such other documents as the holders of Registrable Securities included in such registration or legal counsel for any such holders
may request in order to facilitate the disposition of the Registrable Securities owned by such holders.

 

3.1.3            Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments, and
supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and other securities
covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth
in such Registration Statement or such securities have been withdrawn.

 

3.1.4            Notification.
After the filing of a Registration Statement, the Company shall promptly, and in no event more than two (2) business days after such
filing, notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall further notify
such holders promptly and confirm such advice in writing in all events within two (2) business days of the occurrence of any of the
following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration
Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the Company shall
take all commercially reasonable actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any
request by the Commission for any amendment or supplement to such Registration Statement or any prospectus relating thereto or of the
occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the
purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and
promptly make available to the holders of Registrable Securities included in such Registration Statement any such supplement or amendment;
except that before filing with the Commission a Registration Statement or prospectus or any amendment or supplement thereto, excluding
documents incorporated by reference, the Company shall furnish to the holders of Registrable Securities included in such Registration
Statement and to the legal counsel for any such holders, copies of all such documents proposed to be filed sufficiently in advance of
filing to provide such holders and legal counsel with a reasonable opportunity to review such documents and comment thereon, and the Company
shall not file any Registration Statement or prospectus or amendment or supplement thereto, excluding documents incorporated by reference,
to which such holders or their legal counsel shall object.

 

    8 

     

    

 

3.1.5            State
Securities Laws Compliance. The Company shall use its best efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the holders of Registrable Securities included in such Registration Statement (in light of their intended plan of
distribution) may reasonably request and (ii) take such action necessary to cause such Registrable Securities covered by the
Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the
business and operations of the Company and use commercially reasonable efforts to do any and all other acts and things that
may be necessary or advisable to enable the holders of Registrable Securities included in such Registration Statement to consummate
the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to
qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph or
subject itself to taxation in any such jurisdiction.

 

3.1.6            Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement in customary
form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities.
No holder of Registrable Securities included in such registration statement shall be required to make any representations or warranties
in the underwriting agreement except, if applicable, with respect to such holder’s organization, good standing, authority, title
to Registrable Securities, lack of conflict of such sale with such holder’s material agreements and organizational documents, and
with respect to written information relating to such holder that such holder has furnished in writing expressly for inclusion in such
Registration Statement.

 

3.1.7            Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer of the
Company and all other officers and members of the management of the Company shall cooperate reasonably in any offering of Registrable
Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration Statement with respect
to such offering and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys, accountants
and potential investors.

 

    9 

     

    

 

3.1.8            Earnings
Statement. The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and make
available to its shareholders, within four months following the end of its fiscal year, an earnings statement covering a period of twelve
(12) months, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder.

 

3.1.9            Listing.
The Company shall use its best efforts to cause all Registrable Securities included in any registration to be listed on such exchanges
or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed or designated or, if
no such similar securities are then listed or designated, in a manner satisfactory to the holders of a majority of the Registrable Securities
included in such registration.

 

3.1.10            Road
Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $25,000,000, the
Company shall use its reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by the Underwriter in any underwritten offering.

 

3.2            Obligation
to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.1.4(iv),
each holder of Registrable Securities included in any registration shall immediately discontinue disposition of such Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities until such holder receives the supplemented or amended prospectus
contemplated by Section 3.1.4(iv), and, if so directed by the Company, each such holder will deliver to the Company all written copies,
other than permanent file copies then in such holder’s possession, of the most recent prospectus covering such Registrable Securities
at the time of receipt of such notice.

 

3.3            Registration
Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration pursuant to Section 2.1,
any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section 2.3,
and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or not the Registration
Statement becomes effective, including, without limitation: (i) all registration and filing fees and fees of any securities exchange
on which the Common Stock is then listed; (ii) fees and expenses of compliance with securities or “blue sky” laws (including
fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities); (iii) printing expenses;
(iv) the Company’s internal expenses (including, without limitation, all salaries and expenses of its officers and employees);
(v) the fees and expenses incurred in connection with the listing of the Registrable Securities as required by Section 3.1.9;
(vi) Financial Industry Regulatory Authority fees; (vii) fees and disbursements of counsel for the Company and fees and expenses
for independent certified public accountants retained by the Company; (viii) the fees and expenses of any special experts retained
by the Company in connection with such registration; and (ix) the fees and expenses of one legal counsel selected by the holders
of a majority-in-interest of the Registrable Securities included in such registration. The Company shall have no obligation to pay any
underwriting discounts or selling commissions attributable to the Registrable Securities being sold by the holders thereof, which underwriting
discounts or selling commissions shall be borne by such holders. Additionally, in an underwritten offering, all selling shareholders and
the Company shall bear the expenses of the Underwriter pro rata in proportion to the respective amount of shares each is selling in such
offering.

 

    10 

     

    

 

3.4            Information.
The holders of Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing Underwriter,
if any, in connection with the preparation of any Registration Statement, including amendments and supplements thereto, in order to effect
the registration of any Registrable Securities under the Securities Act pursuant to Section 2 and in connection with the Company’s
obligation to comply with federal and applicable state securities laws.

 

4.            INDEMNIFICATION
AND CONTRIBUTION.

 

4.1            Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Investor and each other holder of Registrable Securities,
and each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents, and each
person, if any, who controls an Investor and each other holder of Registrable Securities (within the meaning of Section 15 of
the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified Party”), from
and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon
any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which the sale
of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary
prospectus contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising out of
or based upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated
thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such
registration; and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses
reasonably incurred by such Investor Indemnified Party in connection with investigating and defending any such expense, loss,
judgment, claim, damage, liability or action whether or not any such person is a party to any such claim or action and including any
and all legal and other expenses incurred in giving testimony or furnishing documents in response to a subpoena or otherwise;
provided, however, that the Company will not be liable in any such case to the extent that any such expense, loss, claim, damage or
liability arises out of or is based upon any untrue statement or allegedly untrue statement or omission or alleged omission made in
such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or supplement,
in reliance upon and in conformity with information furnished to the Company, in writing, by such selling holder expressly for use
therein. The Company also shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors,
partners, members and agents and each person who controls such Underwriter on substantially the same basis as that of the
indemnification provided above in this Section 4.1.

 

    11 

     

    

 

4.2            Indemnification
by Holders of Registrable Securities. Subject to the limitations set forth in Section 4.4.3 hereof, each selling holder of
Registrable Securities will, in the event that any registration is being effected under the Securities Act pursuant to this
Agreement of any Registrable Securities held by such selling holder, indemnify and hold harmless the Company, each of its directors
and officers and each Underwriter (if any), and each other selling holder and each other person, if any, who controls the Company,
another selling holder or such Underwriter within the meaning of the Securities Act, against any losses, claims, judgments, damages
or liabilities, whether joint or several, insofar as such losses, claims, judgments, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or allegedly untrue statement of a material fact contained in any
Registration Statement under which the sale of such Registrable Securities was registered under the Securities Act, any preliminary
prospectus, final prospectus or summary prospectus contained in the Registration Statement, or any amendment or supplement to the
Registration Statement, or arise out of or are based upon any omission or the alleged omission to state a material fact required to
be stated therein or necessary to make the statement therein not misleading, if the statement or omission was made in reliance upon
and in conformity with information furnished in writing to the Company by such selling holder expressly for use therein, and shall
reimburse the Company, its directors and officers, and each other selling holder or controlling person for any legal or other
expenses reasonably incurred by any of them in connection with investigation or defending any such loss, claim, damage, liability or
action. Each selling holder’s indemnification obligations hereunder shall be several and not joint and shall be limited to the
amount of any net proceeds actually received by such selling holder.

 

4.3            Conduct
of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability or any
action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”)
shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person (the
 “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or action; provided, however,
that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability
which the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually
prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action brought against the
Indemnified Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent that it wishes,
jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory to the Indemnified Party.
After notice from the Indemnifying Party to the Indemnified Party of its election to assume control of the defense of such claim or action,
the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified
Party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that in any action in which
both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate
counsel (but no more than one such separate counsel) to represent the Indemnified Party and its controlling persons who may be subject
to liability arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party,
with the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written advice of counsel of such
Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests
between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, which shall not be unreasonably
withheld or delayed, consent to entry of judgment or effect any settlement of any claim or pending or threatened proceeding in respect
of which the Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party,
unless such judgment or settlement includes an unconditional release of such Indemnified Party from all liability arising out of such
claim or proceeding.

 

    12 

     

    

 

 

4.4           Contribution.

 

4.4.1            If
the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect of any
loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage, liability
or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying Parties
in connection with the actions or omissions which resulted in such loss, claim, damage, liability or action, as well as any other relevant
equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

4.4.2            The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined by pro
rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately
preceding Section 4.4.1.

 

4.4.3            The
amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 4.4,
no holder of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after
payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale of Registrable Securities
which gave rise to such contribution obligation. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) with respect to any action shall be entitled to contribution in such action from any person who was not guilty of
such fraudulent misrepresentation.

 

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5.             UNDERWRITING
AND DISTRIBUTION.

 

5.1           Rule 144.
The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange Act and shall
take such further action as the holders of Registrable Securities may reasonably request, all to the extent required from time to time
to enable such holders to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or any similar rule or
regulation hereafter adopted by the Commission.

 

6.             MISCELLANEOUS.

 

6.1           Other
Registration Rights. The Company represents and warrants that no person, other than the holders of the Registrable Securities, has
any right to require the Company to register any shares of the Company’s capital stock for sale or to include shares of the Company’s
capital stock in any registration filed by the Company for the sale of shares of capital stock for its own account or for the
account of any other person.

 

6.2           Assignment;
No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part, except in connection with a Business Combination and with the consent of each Investor
party hereto. This Agreement and the rights, duties and obligations of the holders of Registrable Securities hereunder may be freely
assigned or delegated by such holder of Registrable Securities in conjunction with and to the extent of any transfer of Registrable Securities
by any such holder; provided, however, that any such assignment shall be effective only upon notice being provided to the Company together
with the assignee’s written agreement to be subject to the terms hereof.

 

6.3           This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties, to the permitted assigns
of the Investors or holder of Registrable Securities or of any assignee of the Investors or holder of Registrable Securities. This Agreement
is not intended to confer any rights or benefits on any persons that are not party hereto other than as expressly set forth in Article 4
and this Section 6.3.

 

6.4           Notices.
All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”) required
or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally served,
delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram, telex or facsimile, addressed
as set forth below, or to such other address as such party shall have specified most recently by written notice. Notice shall be deemed
given on the date of service or transmission if personally served or transmitted by telegram, telex or facsimile; provided, that if such
service or transmission is not on a business day or is after normal business hours, then such notice shall be deemed given on the next
business day. Notice otherwise sent as provided herein shall be deemed given on the next business day following timely delivery of such
notice to a reputable air courier service with an order for next-day delivery.

 

    14

     

    

 

To the Company:

 

Accretion Acquisition Corp. 

410 17th Street, #1110 

Denver, Colorado 80202 

Attn: Brad Morse 

E-mail: Brad@fulcrumef.com

 

with a copy to:

 

Davis Graham & Stubbs LLP

1550 17th Street, Suite 500 

Denver, Colorado 80202

Attn: John Elofson 

Sam Seiberling 

Sam Niebrugge 

E-mail:
John.Elofson@dgslaw.com 

Sam.Seiberling@dgslaw.com 

Sam.Niebrugge@dgslaw.com

 

To an Investor, to the address set
forth below such Investor’s name on Exhibit A hereto.

 

6.5           Severability.
This 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 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 Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible that is valid and enforceable.

 

6.6           Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or email/pdf transmission shall
constitute valid and sufficient delivery thereof.

 

6.7           Entire
Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant
hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral or written.

 

6.8           Modifications
and Amendments. No amendment, modification or termination of this Agreement shall be binding upon any party unless executed in writing
by such party.

 

6.9           Titles
and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of
any provision of this Agreement.

 

    15

     

    

 

6.10         Waivers
and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically refers
to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has occurred.
Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any
preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension of time
for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations
or acts.

 

6.11         Remedies
Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under
this Agreement, the Investor or any other holder of Registrable Securities may proceed to protect and enforce its rights by suit in equity
or action at law, whether for specific performance of any term contained in this Agreement or for an injunction against the breach of
any such term or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or to
take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this
Agreement shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power
or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.12         Governing
Law. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the State of New
York applicable to agreements made and to be performed within the State of New York, without giving effect to any choice-of-law provisions
thereof that would compel the application of the substantive laws of any other jurisdiction. The Company irrevocably submits to the nonexclusive
jurisdiction of any New York State or United States Federal court sitting in The City of New York, Borough of Manhattan, over any suit,
action or proceeding arising out of or relating to this Agreement. The Company irrevocably waives, to the fullest extent permitted by
law, any objection that it may now or hereafter have to the laying of venue of any such suit, action or proceeding brought in such a
court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum.

 

6.13         Waiver
of Trial by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM
OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE INVESTOR IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    16

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Registration Rights Agreement to be executed and delivered by their duly authorized representatives as of the date first
written above.

 

	 	COMPANY:
	 	 	 	 
	 	Accretion Acquisition
    Corp.
	 	 	 	 
	 	By:	/s/
    Brad Morse
	 	 	Name:	 Brad Morse  
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	 	 	 
	 	INVESTORS:
	 	 	 	 
	 	Accretion Acquisition
    Sponsor, LLC
	 	 	 	 
	 	By:	/s/
    Brad Morse
	 	 	Name:	 Brad Morse  
	 	 	Title:	President
	 	 	 	 
	 	EarlyBirdCapital, Inc.
	 	 	 	 
	 	By:	/s/
    Michael Powell  
	 	 	Name:	Michael Powell
	 	 	Title:	Sr. Managing Director
	 	 	 	 
	 	 /s/
    Chris Wright
	 	Chris Wright
	 	 	 	 
	 	 /s/
    Daniel Posner
	 	Daniel Posner
	 	 	 	 
	 	 /s/
    Charles Gwirtsman
	 	Charles Gwirtsman
	 	 	 	 
	 	 /s/
    Ron Maor
	 	Ron Maor
	 	 	 	 
	 	 /s/
    Cary D. Steinbeck
	 	Cary D. Steinbeck

 

[Signature Page to Registration
Rights Agreement]

 

     

     

    

 

EXHIBIT A

 

Name and Address of Investor

 

Accretion Acquisition Sponsor, LLC 

410 17th Street, Suite 1110 

Denver, Colorado 80202

 

EarlyBirdCapital, Inc. 

366 Madison Avenue, 8th Floor 

New York, New York 10017

 

Chris Wright 

950 17th Street, Suite 2400 

Denver, Colorado 80202

 

Daniel Posner 

500 West End Ave. 

New York, New York 10024

 

Charles Gwirtsman 

900 Pennsylvania St., Unit 500 

Denver, Colorado 80203

 

Ron Maor 

24 Habanim St. 

Ramat Hasharon 

4722301 

Israel

 

Cary D. Steinbeck 

85 Bayview Dr. 

Manhattan Beach, California 90266

 

    A-1

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