Document:

Exhibit 10.1

 

April [*]. 2022

 

Abri SPAC 2, Inc.

9663 Santa Monica Blvd., No. 1091

Beverly Hills, CA 90210

(424) 732-1021

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

 

 

Re: Initial Public Offering

 

Gentlemen:

 

This letter agreement (the “Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Abri SPAC 2, Inc., a Delaware corporation (the “Company”) and Chardan Capital Markets, LLC,,
as representative (the “Representative”) of the several underwriters (each an “Underwriter
and collectively the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of up to 11,500,000 of the Company’s units (including up to 1,500,000 units that may be purchased to cover the Underwriters’
option to purchase additional units, if any) (the “Units”), each comprised of one share of Common Stock of the
Company, par value $0.0001 per share (the “Common Stock”), one warrant, with each warrant being exercisable
to purchase one share of Common Stock at a price of $11.50 per share (“Warrant”), and one right to receive one-tenth
of one share of common stock upon the consummation of an initial business combination (the “Rights”). Certain capitalized
terms used herein are defined in paragraph 14 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Abri Ventures 2, LLC, a Delaware limited liability company (the “Sponsor”)
and each of the undersigned hereby agrees with the Company as follows:

 

1. The Sponsor and each of the
undersigned agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed
Business Combination, it, he or she shall (i) vote any shares of Common Stock owned by it, him or her in favor of any proposed Business
Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder approval. If the
Company engages in a tender offer in connection with any proposed Business Combination, the Sponsor and each of the undersigned agrees
that it, he or she will not seek to sell its, his or her shares of Common Stock to the Company in connection with such tender offer.

 

2. (a) In the event that the
Company fails to consummate a Business Combination within 12 months from the closing of the Company’s IPO (or upon extension, 15
or 18 months, as applicable), the undersigned shall take all reasonable steps to (i) cause the Company to cease all operations except
for the purpose of winding up, (ii) cause the Company, as promptly as reasonably possible but not more than ten business days thereafter,
to redeem 100% of the outstanding IPO Shares and (iii) as promptly as reasonably possible following such redemption, subject to the approval
of the Company’s remaining stockholders and board of directors, cause the Company to dissolve and liquidate, subject (in the case
of (ii) and (iii) above) to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements
of other applicable law.

 

(b) The undersigned hereby waives any and all
right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining net assets of the Company as
a result of such liquidation with respect to any Insider Shares or Private Units he, she or it owns (“Claim”)
and hereby waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with
the Company and will not seek recourse against the Trust Fund for any reason whatsoever, other than, in each case, with respect to any
IPO Shares, with respect to which the undersigned may receive distributions from the Trust Fund upon the Trust Fund being liquidated and
distributed to the holders of IPO Shares in the circumstances described in Section 2(a) above. The undersigned acknowledges and agrees
that there will be no distribution from the Trust Fund with respect to any Common Stock underlying the Private Units, all rights of which
will terminate on the Company’s liquidation.

 

     

    

    

 

3.
The undersigned will place into escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the
Company will enter into with the undersigned and an escrow agent acceptable to the Company. The Insider Shares will be placed into an
escrow account maintained by the escrow agent. 50% percent of the Insider Shares will not be transferred, assigned, sold or released from
escrow until the earlier of (i) 6 months after the date of the consummation of the Company’s initial Business Combination or (ii)
the date on which the closing price of the shares of the Company’s Common Stock equals or exceeds $12.50 per share (as adjusted
for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing
after the closing of the Company’s initial Business Combination and the remaining 50% of the Insider Shares will not be transferred,
assigned, sold or released from escrow until 6 months after the date of the closing of the Company’s initial Business Combination,
or earlier, in either case, if, subsequent to the Company’s initial Business Combination, the Company consummates a subsequent 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; provided that the foregoing restrictions shall not apply to
transfers (i) amongst the Company’s pre-IPO stockholders (including, to the extent the Company’s pre-IPO stockholders are
entities, to such entity’s members, partners, stockholders or other equity holders) or to the Company’s officers, directors
and employees, (ii) if the undersigned (or Permitted Transferee (as defined below)) is an entity, as a distribution to its partners, stockholders,
or members upon its liquidation, (iii) by bona fide gift to a member of the undersigned’s (or Permitted Transferee’s) immediate
family or to a trust, the beneficiary of which is the undersigned (or Permitted Transferee) or a member of the undersigned’s (or
Permitted Transferee’s) immediate family, for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon
death, (v) pursuant to a qualified domestic relations order, (vi) by private sales at prices no greater than the price at which the Insider
Shares were originally purchased or (vii) to the Company for the cancellation of up to 375,000 Insider Shares subject to forfeiture to
the extent that the Underwriters’ over-allotment option is not exercised in full or in part in connection with the consummation
of a Business Combination, in each case (except for clause vii) where these permitted transferees (“Permitted Transferees”)
agree in writing to the terms of the transfer restrictions.

 

4. INTENTIONALLY OMITTED.

 

5. In order to minimize potential
conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to the Company for its consideration,
prior to presentation to any other person or entity, any suitable opportunity to acquire a target business, until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have.

 

6. The undersigned acknowledges
and agrees that prior to entering into a Business Combination with a target business that is affiliated with any Insiders of the Company
or their affiliates, including any company that is a portfolio company of, or otherwise affiliated with, or has received financial investment
from, an entity with which any Insider or their affiliates is affiliated, (i) such transaction must be approved by a majority of the Company’s
disinterested and independent directors, (ii) the Company must obtain an opinion from an independent investment banking or accounting
firm as to the fair market value of the target business and that such Business Combination is fair to the Company’s unaffiliated
stockholders from a financial point of view and (iii) such transaction must be approved by the Company’s audit committee.

 

7. Neither the undersigned,
any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive or accept a finder’s
fee or any other compensation in the event the undersigned, any member of the family of the undersigned or any affiliate of the undersigned
originates a Business Combination.

 

8. The undersigned agrees to
be an officer and/or director of the Company, as applicable, until the earlier of the consummation by the Company of a Business Combination
or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company and the Representative
is true and accurate in all material respects, does not omit any material information with respect to the undersigned’s biography
and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities
Act.

 

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The undersigned’s FINRA
Questionnaire and Director and Officer Questionnaire previously furnished to the Company and the Representative is true and accurate in
all material respects. The undersigned represents and warrants that, except as disclosed in the undersigned’s Director and Officer
Questionnaire:

 

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

 

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

 

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

 

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

 

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

 

	 	(f)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described in 8(e)(i) above, or to be associated with persons engaged in any such activity;

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

10. The undersigned has full
right and power, without violating any agreement by which he, she or it is bound, to enter into this Agreement and to serve as an officer
and/or director of the Company, as applicable, and consents to being named in the registration statement on Form S-1 and prospectus filed
by the Company with the U.S. Securities and Exchange Commission, road show and any other materials as an officer and/or director of the
Company, as applicable.

 

11. The undersigned hereby waives
his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned or to be owned by the undersigned,
directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or in the aftermarket, and agrees that he, she
or it will not seek conversion with respect to or otherwise sell, such shares, in each case, in connection with any vote to approve a
Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended and Restated Certificate of Incorporation,
or a tender offer by the Company prior to a Business Combination.

 

12. The undersigned hereby agrees
to (i) not propose, or vote in favor of, prior to and unrelated to an initial Business Combination, an amendment to the Company’s
Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s redemption obligation
to redeem all IPO Shares if the Company cannot complete an initial Business Combination within 12 months of the closing of the IPO (or
upon extension, 15 or 18 months, as applicable), unless the Company provides holders of IPO Shares an opportunity to redeem their IPO
Shares in conjunction with any such amendment, and (ii) not redeem any shares, including Insider Shares, into the right to receive cash
from the Trust Fund in connection with a stockholder vote to approve the Company’s proposed initial Business Combination or sell
any shares to the Company in any tender offer in connection with the Company’s proposed initial Business Combination.

 

13. In connection with Section
5-1401 of the General Obligations Law of the State of New York, Agreement shall be governed by, and construed in accordance with, the
laws of the State of New York without regard to principles of conflicts of law that would result in the application of the substantive
law of another jurisdiction. The parties hereto agree that any action, proceeding or claim arising out of or relating in any way to this
Agreement shall be resolved through final and binding arbitration in accordance with the International Arbitration Rules of the American
Arbitration Association (“AAA”). The arbitration shall be brought before the AAA International Center for Dispute Resolution’s
offices in New York City, New York, will be conducted in English and will be decided by a panel of three arbitrators selected from the
AAA Commercial Disputes Panel and that the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction
over the party from whom enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s
legal fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

14. As used herein, (i) a “Business
Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or
other similar business combination with one or more businesses or entities; (ii) “Insiders” shall mean all officers,
directors and stockholders of the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean
all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares”
shall mean the shares of Common Stock issued in the Company’s IPO; (v) “Private Units” shall mean the
Units purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO, each comprised
of one share of Common Stock, one Warrant to purchase one share of Common Stock at a price of $11.50 per share”), and one Right
to receive one-tenth of one share of common stock upon the consummation of an initial business combination; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust
Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

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15. Any notice, consent or request
to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail
or similar private courier service, by certified mail (return receipt requested), by hand delivery or by e-mail transmission. The parties
hereto consent to the delivery of notices or other communications by electronic transmission at the e-mail address set forth below the
respective party’s name in this Section 15. To the extent that any notice given by means of electronic transmission is returned
or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected e-mail address has
been provided, and such attempted electronic notice shall be ineffective and deemed to not have been given. Each party agrees to promptly
notify the other parties of any change in its e-mail address, and that failure to do so shall not affect the foregoing. 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.

 

If to the Representative:

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

Attn: George Kaufman

Email: gkaufman@chardancm.com

 

Copy (which copy shall not constitute notice)
to:

White and Williams LLP

7 Times Square, Suite 2900

New York, NY 10036 Attn: Carl Koerner, Esq.

Email: Koernerc@whiteandwilliams.com

 

If to the Company:

Abri SPAC 2, Inc.

9663 Santa Monica Blvd., No. 1091

Beverly Hills, CA 90210 Attn: Jeffrey Tirman

Email: jtirman@abriadv.com

 

Copy (which copy shall not constitute notice)
to:

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Alex Weniger-Araujo, Esq.

Email: aweniger@loeb.com

 

16. No party hereto may assign
either this Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other party.
Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any
interest or title to the purported assignee. This Agreement shall be binding on the parties hereto and any successors and assigns thereof.

 

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

 

[Signature page to follow]

 

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    Jeffrey Tirman, Chairman of the Board

    Chief Executive Officer

	 	 
	 	
    Nima Montazeri

    Chief Operating Officer

	 	 
	 	Christopher Hardt
	 	Chief Financial Officer
	 	 
	 	
    Peter Bakker

    Vice President Business Analytics

	 	 
	 	
    Jurgen Post

    Director

	 	 
	 	
    Nadine Watt

    Director

    

	 	 
	 	
    Michael Krupin

    Director

	 	 
	 	
    Robert Small

    Director

 

Acknowledged and Agreed:

 

ABRI SPAC 2, INC.

	 	 
	 	 
	/s/ Jeffrey Tirman	 
	Jeffrey Tirman	 
	Chief Executive Officer	 
	 	 

 

[Signature page to Insider Letter]

 

 

7Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as
of [*], 2022 by and between Abri SPAC 2, Inc. (the “Company”) and Continental Stock Transfer & Trust Company (“Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. [*]-[*] (“Registration Statement”) for its initial public offering of securities (“IPO”)
has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange Commission (capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and

 

WHEREAS, Chardan Capital Markets,
LLC is acting as representative of the underwriters in the IPO (the “Representative”); and

 

WHEREAS, as described in the
Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, an aggregate of
$101,000,000 of the proceeds of the IPO ($116,150,000 if the over-allotment option is exercised in full) and a private placement of units
occurring substantially concurrently with the IPO will be delivered to the Trustee to be deposited and held in a trust account for the
benefit of the Company and the holders of the Company’s common stock, par value $.0001 per share (“Common Stock”), issued
in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee will be referred to herein as the “Property”;
the shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,” and
the Public Shareholders and the Company will be referred to together as the “Beneficiaries”);

 

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

 

WHEREAS, if a Business Combination
(as defined herein) is not consummated within the initial (12) month period following the Closing, the Company may extend such period
by two extensions with each extension being three months, for up to a maximum of eighteen (18) months in the aggregate, subject to the
Company’s sponsor or its affiliates or permitted designees depositing $1,000,000 (or $1,150,000 if the underwriters’ over-allotment
option is exercised in full) into the Trust Account no later than the 12th month, and 15th month anniversary of the IPO (each, an “Applicable
Deadline”) for each three month extension (each, an “Extension”); and

 

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

 

THEREFORE, IT IS AGREED:

 

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

 

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

 

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

 

(c) In a timely manner, upon
the instruction of the Company, invest and reinvest the Property (i) in United States government treasury bills, notes or bonds having
a maturity of 185 days or less and/or (ii) in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined by the Company, it being understood that the
Trust Account will earn no interest while the account funds are uninvested awaiting the Company’s instructions hereunder, while
account funds are invested or uninvested, the Trustee may earn bank credits and other consideration;

 

     

     

    

 

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

 

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

  

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

 

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

 

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

 

(i) Commence liquidation of
the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination Letter”),
in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf of the Company by its President,
Chief Executive Officer and Chief Financial Officer and, in the case of a Termination Letter in a form substantially similar to that attached
hereto as Exhibit A, acknowledged and agreed to by the Representative, and complete the liquidation of the Trust Account and distribute
the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to therein; provided, however,
that in the event that a Termination Letter has not been received by the Trustee by the 12-month anniversary of the closing of the IPO
(“Closing”) or, in the event that the Company extended the time to complete the Business Combination for up to 18 months from
the closing of the IPO but has not completed the Business Combination within such 18-month period, the 18 month anniversary of the Closing
(as applicable, the “Last Date”), the Trust Account shall be liquidated in accordance with the procedures set forth in the
Termination Letter attached as Exhibit B hereto and distributed to the Public Shareholders as of the Last Date.

 

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

 

2. Limited Distributions
of Income from Trust Account.

 

(a) Upon written request from
the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall
distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any tax obligations
owed by the Company.

 

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

 

(c) The Company shall provide
the Representative with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee with respect to
any proposed withdrawal from the Trust Account promptly after such issuance.

 

(d) If applicable, the Company
shall issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable
Deadline, the Company received notice from the Company’s insiders that the insiders intend to extend the Applicable Deadline.

 

(e) Promptly following the Applicable
Deadline, disclose whether or not the term the Company has to consummate a Business Combination has been extended.

 

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

 

(a) Give all instructions to
the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer and Chief Financial Officer. In addition, except
with respect to its duties under paragraphs 1(i) and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying
on, any verbal or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized above
to give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b)
Subject to the provisions of Sections 5 and 7(h) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any claim,
potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or
demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income
earned from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence or willful
misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim
(hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against
such Indemnified Claim, provided, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which
consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent
of the Company, which consent shall not be unreasonably withheld or delayed. The Company may participate in such action with its own counsel. 

 

(c) Pay the Trustee an initial
acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule
A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall
not be used to pay such fees except for disbursements made to the Company pursuant to Sections 1(i) solely in connection with the consummation
of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation
of the IPO and thereafter on the anniversary of the Effective Date. Except as set forth in this Section 3(c) and Section 3(b) hereof,
the Company shall not be responsible for any other fees or charges of the Trustee.

 

(d) In connection with any vote
of the Company’s shareholders regarding a a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the
Trustee an affidavit or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes
verifying the vote of the Company’s shareholders regarding such Business Combination; and

 

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

 

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

 

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

 

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

 

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

 

    3

     

    

 

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

 

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

 

(f) The other parties hereto
or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in the
exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee may rely conclusively and shall
be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee),
statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions,
but also as to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith, to be
genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any
waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument
delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall
give its prior written consent thereto;

 

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

 

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

 

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

 

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

 

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

 

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

 

6. Termination. This
Agreement shall terminate as follows:

 

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

 

    4

     

    

 

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

  

7. Miscellaneous.

 

(a) The Company and the Trustee
each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust
Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized
persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access
to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon all information
supplied to it by the Company, including account names, account numbers and all other identifying information relating to a beneficiary,
beneficiary’s bank or intermediary bank. The Trustee shall not be liable for any loss, liability or expense resulting from any error
in the information or transmission of the wire.

 

(b) This Agreement shall be
governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law
principles that would result in the application of the substantive laws of another jurisdiction. It may be executed in several original
or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Section 1(i) (which
may only be amended with the approval of the holders of a majority of the outstanding shares of Common Stock sold in the IPO), this Agreement
or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however,
that no such change, amendment or modification may be made without the prior written consent of the Representative. As to any claim, cross-claim
or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. The Trustee may require from Company
counsel an opinion as to the propriety of any proposed amendment.

 

(d) 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.

 

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

 

if to the Trustee, to:

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf or Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

Abri
SPAC 2, Inc.

9663 Santa Monica Blvd., No. 1091

Beverly Hills, CA 90210Attn: Jeffrey Tirman

Email: jtirman@abriadv.com.com

 

    5

     

    

 

Copy (which copy
shall not constitute notice) to:

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Mitchell S. Nussbaum, Esq. and Alex Weniger-Araujo, Esq.

Email: aweniger@loeb.com

 

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

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

Attn: George Kaufman

Email: gkaufman@chardancm.com

 

and

White and Williams LLP

7 Times Square, Suite 2900

New York, NY 10036

Attn: Carl Koerner, Esq.

Email: koernerc@whiteandwhilliams.com

 

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

 

(g) The parties hereto consent
to the delivery of notices or other communications by electronic transmission at the e-mail address set forth below the respective party’s
name in Section 7(e) hereto. To the extent that any notice given by means of electronic transmission is returned or undeliverable for
any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected e-mail address has been provided, and
such attempted electronic notice shall be ineffective and deemed to not have been given. Each party agrees to promptly notify the other
parties of any change in its e-mail address, and that failure to do so shall not affect the foregoing.

 

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

 

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

 

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

 

[Signature Page Follows]

 

    6

     

    

 

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

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 
	 	By:	 
	 	 	Name: 	 Francis Wolf
	 	 	Title:	 Vice President
	 	 
	 	ABRI SPAC 2, INC.
	 	 
	 	By:	 
	 	 	Name: 	Jeffrey Tirman
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Investment Management Trust
Agreement]

 

    7

     

    

 

SCHEDULE A

 

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

 

    8

     

    

 

EXHIBIT A

 

[Letterhead of Company]

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez  

Re: Trust Account] - Termination Letter

 

Ladies and Gentlemen:

 

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between Abri SPAC 2, Inc.. (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this is to advise you that the Company has entered
into an agreement with [__________________] (“Target Business”) to consummate a business combination with Target Business
(“Business Combination”) on or about [insert date]. The Company shall notify you at least seventy-two 72 hours in advance
of the actual date of the consummation of the Business Combination (“Consummation Date”). Capitalized terms used herein and
not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on and to transfer the proceeds to the above-referenced
account at HSBC Bank USA, NA to the effect that, on the Consummation Date, all of funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct on the Consummation Date. It is acknowledged and agreed
that while the funds are on deposit in the trust operating account at HSBC Bank USA, NA awaiting distribution, the Company will not earn
any interest or dividends.

 

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

 

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

 

[Signature Page Follows]

 

    9

     

    

 

	 	Very truly yours,
	 	 
	 	ABRI SPAC 2, INC.
	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 

Agreed to and accepted:

Chardan Capital Markets, LLC

 

	By:	 	 

 

    10

     

    

 

EXHIBIT B

 

[Letterhead of Company]

[Insert date]

 

Continental Stock Transfer & Trust Company

[1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account - Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between Abri SPAC 2, Inc.. (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this is to advise you that the Company has been
unable to effect a Business Combination with a Target Company within the time frame specified in the Company’s Amended and Restated
Certificate of Incorporation, as described in the Company’s prospectus relating to its IPO. Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments and to transfer the total proceeds to the
trust operating account at [•] to await distribution to the Public Shareholders. The Company has selected [____________, 20__] as
the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation
proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit in the trust
operating account. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent, to distribute said funds
directly to the Public Shareholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation
of the Company. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	ABRI SPAC 2, INC.
	 	 
	 	By:	 
	 	 	Name:  	 
	 	 	Title: 	 

 

cc: Chardan Capital Markets, LLC

 

    11

     

    

 

EXHIBIT C

 

[Letterhead of Company]

[Insert date]

 

Continental Stock Transfer & Trust Company

[1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account Withdrawal Instructions

 

Ladies and Gentlemen:

 

Pursuant to paragraph 2(a)
of the Investment Management Trust Agreement between Abri SPAC 2, Inc. (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), the Company hereby requests that you deliver to
the Company [$_______] of the interest income earned on the Property as of the date hereof. The Company needs such funds to pay for its
tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer)
such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	ABRI SPAC 2, INC.
	 	 
	 	By:	 
	 	 	Name:  	 
	 	 	Title: 	 

 

cc: Chardan Capital Markets, LLC

 

    12

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account Extension Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(l) of
the Investment Management Trust Agreement between Abri SPAC 2, Inc. (“Company”) and Continental Stock Transfer & Trust
Company, dated as of [*], 2022 (“Trust Agreement”), this is to advise you that the Company is extending the time available
in order to consummate a Business Combination with the Target Businesses for an additional [three (3) months], from ______________ to
____________ (the “Extension”).

 

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

 

[In accordance with the terms
of the Trust Agreement, we hereby authorize you to deposit [$1,000,000] [(or $1,150,000 if the underwriters’ over-allotment option
was exercised in full)], which will be wired to you, into the Trust Account investments upon receipt.]

 

	 	Very truly yours,
	 	 
	 	Abri SPAC 2, Inc.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Chardan Capital Markets, LLC

 

 

13

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