Document:

Exhibit
10.2

 

EXECUTION
VERSION

 

COMPANY
STOCKHOLDER SUPPORT AGREEMENT

 

This
COMPANY STOCKHOLDER SUPPORT AGREEMENT, dated as of April 30, 2022 (this “Support Agreement”), is entered into
by and among the stockholders listed on Exhibit A hereto (each, a “Stockholder”), CH AUTO Inc., a Cayman
Islands exempted company (“Pubco”), CH-AUTO TECHNOLOGY CORPORATION LTD., a company organized under the laws
of the People’s Republic of China (the “Company”), and Mountain Crest Acquisition Corp. IV, a Delaware
corporation (“SPAC”). Capitalized terms used but not defined in this Support Agreement shall have the meanings
ascribed to them in the Merger Agreement (as defined below).

 

WHEREAS,
SPAC, Ch-Auto Merger Sub Corp., a Delaware corporation and wholly owned subsidiary of Pubco (“Merger Sub”),
Pubco and the Company are parties to that certain Agreement and Plan of Merger, dated as of the date hereof (as amended, modified or
supplemented from time to time, the “Merger Agreement”), which provides, among other things, that, upon the
terms and subject to the conditions thereof, Merger Sub will be merged with and into SPAC (the “Merger”), with
SPAC surviving the Merger as a direct wholly-owned subsidiary of Pubco;

 

WHEREAS,
as of the date hereof, each Stockholder owns the number of shares of the Company Common Stock, as set forth on Exhibit A (all
such shares, or any additional shares of the Company Common Stock or any shares of Pubco common stock or any successor entity of which
ownership of record or the power to vote, directly or indirectly, is hereafter acquired by the Stockholder prior to the termination of
this Support Agreement being referred to herein as the “Stockholder Shares”); and

 

WHEREAS,
in order to induce SPAC to enter into the Merger Agreement, each Stockholder is executing and delivering this Support Agreement to SPAC.

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally
bound hereby, the parties hereby agree as follows:

 

1.
Voting Agreements. During the period commencing on the date hereof and ending on the earlier to occur of (i) the Effective
Time, and (ii) such date and time as the Merger Agreement shall be terminated (whichever earlier, the “Expiration Time”),
each Stockholder, in its capacity as a stockholder of the Company, agrees that, at any meeting of the Company’s stockholders related
to the Reorganization and the Transactions contemplated by the Merger Agreement (whether annual or special and whether or not an adjourned
or postponed meeting, however called and including any adjournment or postponement thereof) and/or in connection with any written consent
of the Company’s stockholders related to the Reorganization and the Transactions contemplated by the Merger Agreement (all meetings
or consents related to the Merger Agreement, collectively referred to herein as the “Meeting”), such Stockholder
shall:

 

a. when
the Meeting is held, appear at the Meeting or otherwise cause the Stockholder Shares to be counted as present thereat for the purpose
of establishing a quorum;

 

     

     

    

 

b. vote
(or execute and return an action by written consent), or cause to be voted at the Meeting (or validly execute and return and cause such
consent to be granted with respect to), all of the Stockholder Shares in favor of the Merger Agreement, the Reorganization and the Transactions
contemplated thereby;

 

c. authorize
and approve any amendment to the Company’s Organizational Documents that is deemed necessary or advisable by the Company for purposes
of effecting the Reorganization and the Transactions; and

 

d. vote
(or execute and return an action by written consent), or cause to be voted at the Meeting (or validly execute and return and cause such
consent to be granted with respect to), all of the Stockholder Shares against any other action that would reasonably be expected to (x)
materially impede, interfere with, delay, postpone or adversely affect the Merger, the Reorganization or any of the Transactions, (y)
result in a breach of any covenant, representation or warranty or other obligation or agreement of the Company under the Merger Agreement
or (z) result in a breach of any covenant, representation or warranty or other obligation or agreement of the Stockholder contained in
this Support Agreement.

 

2.
Restrictions on Transfer. Until the Expiration Time, each Stockholder agrees that, except for the transfer(s) to Ch-Auto
HK for purposes of the Reorganization, it shall not sell, assign or otherwise transfer any of the Stockholder Shares unless the buyer,
assignee or transferee thereof executes a joinder agreement to this Support Agreement in substantially the form set forth on Exhibit
B hereto. The Company shall not register any sale, assignment or transfer of the Stockholder Shares on the Company’s stock
ledger (book entry or otherwise) that is not in compliance with this Section 2.

 

3.
New Securities. During the period commencing on the date hereof and ending on the Expiration Time, in the event that, (a)
any shares of Company Common Stock or other equity securities of Company are issued to any Stockholder after the date of this Support
Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or other securities of any other
entity in exchange for Company securities owned by the Stockholder, (b) any Stockholder purchases or otherwise acquires beneficial ownership
of any shares of Company Common Stock or other equity securities of Company or securities of any other entity in exchange for Company
securities owned by the Stockholder, after the date of this Support Agreement, or (c) any Stockholder acquires the right to vote or share
in the voting of any Company Common Stock or other equity securities of the Company after the date of this Support Agreement (such Company
Common Stock or other equity securities of the Company, collectively the “New Securities”), then such New Securities
acquired or purchased by the relevant Stockholder shall be subject to the terms of this Support Agreement to the same extent as if they
constituted the Stockholder Shares as of the date hereof.

 

4.
No Challenge. Each Stockholder agrees, in its capacity as a stockholder only, not to commence, join in, facilitate, assist
or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative
or otherwise, against SPAC, Pubco, Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity
of, or seeking to enjoin the operation of, any provision of this Support Agreement or the Merger Agreement or (b) alleging a breach of
any fiduciary duty of any person in connection with the evaluation, negotiation or entry into the Merger Agreement.

 

    	 	2	 

    

    

 

5.
Consent to Disclosure. Each Stockholder hereby consents to the publication and disclosure in the Form F-4 and the Proxy
Statement (and, as and to the extent otherwise required by applicable securities Laws or the SEC or any other securities authorities,
any other documents or communications provided by SPAC, Pubco or the Company to any Governmental Authority or to securityholders of SPAC
or Pubco) of such Stockholder’s identity and beneficial ownership of Stockholder Shares and the nature of such Stockholder’s
commitments, arrangements and understandings under and relating to this Support Agreement and, if deemed appropriate by SPAC, Pubco or
the Company, a copy of this Support Agreement. Each Stockholder will promptly provide any information reasonably requested by SPAC, Pubco
or the Company for any regulatory application or filing made or approval sought in connection with the Transactions (including filings
with the SEC).

 

6.
Waiver. Each Stockholder irrevocably and unconditionally (i) waives any rights of appraisal, dissenter’s rights and
any similar rights relating to the Merger Agreement and the consummation by the parties of the transactions contemplated thereby, including
the Merger, that such stockholder may have under applicable law and (ii) waives its or its successor entity’s right to certain
payments upon liquidation of the Company or other entity of which the Stockholder Shares represents ownership interests pursuant to the
Company’s or such other entity’s organizational documents.

 

7.
Stockholder Representations: Each Stockholder represents and warrants to SPAC, Pubco and the Company, as of the date hereof,
that:

 

a. such
Stockholder has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Support Agreement;

 

b. (i)
if such Stockholder is not an individual, such Stockholder is duly organized, validly existing and in good standing under the Laws of
the jurisdiction in which it is organized, and the execution, delivery and performance of this Support Agreement and the consummation
of the transactions contemplated hereby are within such Stockholder’s organizational powers and have been duly authorized by all
necessary organizational actions on the part of the Stockholder and (ii) if such Stockholder is an individual, the signature on this
Support Agreement is genuine, and such Stockholder has legal competence and capacity to execute the same;

 

c. this
Support Agreement has been duly executed and delivered by such Stockholder and, assuming due authorization, execution and delivery by
the other parties to this Support Agreement, this Support Agreement constitutes a legally valid and binding obligation of such Stockholder,
enforceable against such Stockholder in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws,
other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance
and other equitable remedies);

 

    	 	3	 

    

    

 

d. the
execution and delivery of this Support Agreement by such Stockholder does not, and the performance by such Stockholder of its obligations
hereunder will not, (i) conflict with or result in a violation of the organizational documents of such Stockholder, or (ii) require any
consent or approval from any third party that has not been given or other action that has not been taken by any third party, in each
case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Stockholder
of its obligations under this Support Agreement;

 

e. there
are no Proceedings pending against such Stockholder or, to the knowledge of such Stockholder, threatened against such Stockholder, before
(or, in the case of threatened Proceedings, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges
or seeks to prevent, enjoin or materially delay the performance by such Stockholder of such Stockholder’s obligations under this
Support Agreement;

 

f. no
broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection
with this Support Agreement or any of the respective transactions contemplated hereby, based upon arrangements made by the Stockholder
or, to the knowledge of such Stockholder, by the Company;

 

g. such
Stockholder has had the opportunity to read the Merger Agreement and this Support Agreement and has had the opportunity to consult with
such Stockholder’s tax and legal advisors;

 

h. such
Stockholder has not entered into, and shall not enter into, any agreement that would prevent such Stockholder from performing any of
such Stockholder’s obligations hereunder;

 

i. such
Stockholder has good title to the Stockholder Shares opposite such Stockholder’s name on Exhibit A, free and clear of any
Liens other than Liens pursuant to this Agreement, the other Transaction Agreements, the Organizational Documents of the Company or such
other entity of which the Stockholder Shares represents ownership interests and the Permitted Liens, and such Stockholder has the sole
power to vote or cause to be voted such Stockholder Shares; and

 

j. the
Stockholder Shares listed opposite such Stockholder’s name on Exhibit A are the only shares of the Company capital stock
(or such other entity of which the Stockholder Shares represent ownership interests) owned of record or beneficially owned by the Stockholder
as of the date hereof, and none of such Stockholder Shares are subject to any proxy, voting trust or other agreement or arrangement with
respect to the voting of such Stockholder Shares that is inconsistent with such Stockholder’s obligations pursuant to this Support
Agreement.

 

    	 	4	 

    

    

 

8.
Damages; Remedies. Each Stockholder hereby agrees and acknowledges that (a) SPAC, Pubco and the Company would be irreparably
injured in the event of a breach by the Stockholder of its obligations under this Support Agreement, (b) monetary damages may not be
an adequate remedy for such breach and (c) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy
that such party may have in law or in equity, in the event of such breach.

 

9.
Entire Agreement; Amendment. This Support Agreement and the other agreements referenced herein constitute the entire agreement
and understanding of the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or
representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or
the transactions contemplated hereby. This Support Agreement may not be changed, amended, modified or waived (other than to correct a
typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

10.
Assignment. No party hereto may, except as set forth herein, assign either this Support Agreement or any of its rights,
interests, or obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of
this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.
This Support Agreement shall be binding on each Stockholder, SPAC, Pubco and the Company and each of their respective successors, heirs,
personal representatives and assigns and permitted transferees.

 

11.
Counterparts. This Support Agreement may be executed in any number of original, electronic or facsimile counterparts and
each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but
one and the same instrument.

 

12.
Severability. This Support 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 Support 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
Support Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

13.
Governing Law; Jurisdiction; Jury Trial Waiver. Section 10.7 and Section 10.9 of the Merger Agreement are incorporated
by reference herein to apply with full force to any disputes arising under this Support Agreement.

 

14.
Notice. Any notice, consent or request to be given in connection with any of the terms or provisions of this Support Agreement
shall be in writing and shall be sent or given in accordance with the terms of Section 10.10 of the Merger Agreement to the applicable
party, with respect to the Company, Pubco and SPAC, at the address set forth in Section 10.10 of the Merger Agreement, and, with respect
to each Stockholder, at its address set forth on Exhibit A.

 

    	 	5	 

    

    

 

15.
Termination. This Support Agreement shall terminate on the earlier of the Closing or the termination of the Merger Agreement.
No such termination shall relieve any Stockholder, SPAC, Pubco or the Company from any liability resulting from a breach of this Support
Agreement occurring prior to such termination.

 

16.
Adjustment for Stock Split. If, and as often as, there are any changes in the Stockholder Shares by way of stock split,
stock dividend, combination or reclassification, or through merger, consolidation, reorganization, recapitalization or business combination,
or by any other means, equitable adjustment shall be made to the provisions of this Support Agreement as may be required so that the
rights, privileges, duties and obligations hereunder shall continue with respect to each Stockholder, SPAC, Pubco, the Company and the
Stockholder Shares as so changed.

 

17.
Further Actions. Each of the parties hereto agrees to execute and deliver hereafter any further document, agreement or
instrument of assignment, transfer or conveyance as may be necessary or desirable to effectuate the purposes hereof and as may be reasonably
requested in writing by another party hereto.

 

[remainder
of page intentionally left blank]

 

    	 	6	 

    

    

 

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

 

	MOUNTAIN CREST ACQUISITION CORP. IV	 
	 	 	 
	By: 	/s/Suying Liu	 
	Name:	Suying
Liu	 
	Title:	Chief
Executive Officer	 
	 	 	 
	CH AUTO INC.	 
	 	 	 
	By:	/s/Qun
Lu	 
	Name: 	Qun Lu	 
	Title: 	Sole Director	 
	 	 	 
	CH-AUTO TECHNOLOGY CORPORATION LTD.	 
	 	 	 
	By:	/s/Qun Lu	 
	Name: 	Qun Lu	 
	Title: 	Chief Executive Officer	 

 

    	 	7	 

    

    

 

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

 

	CH AUTO, INC.	 
	 	 	 
	By: 	/s/ Qun Lu	 
	Name: 	 Qun Lu	 
	Title: 	 Sole Director	 

 

	CH AUTO TECHNOLOGY CORPORATION, LTD.	 
	 	 	 
	By: 	/s/ Qun Lu	 
	Name: 	 Qun Lu	 
	Title: 	 Legal Representative	 

 

    	 	8	 

    

    

 

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

 

	BEIJING YU HUA TE INVESTMENT MANAGEMENT PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Qun Lu	 
	Name: 	Qun Lu	 
	Title: 	Executive Partner	 

 

 

 

    	 	9	 

    

    

 

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

 

	QUN LU	 
	 	 	 
	By: 	/s/ Qun Lu	 

 

 

 

    	 	10	 

    

    

 

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

 

	KEJIAN WANG	 
	 	 	 
	By: 	/s/ Kejian Wang	 

 

 

 

    	 	11	 

    

    

 

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

 

	BEIJING YU HUA JIE INVESTMENT PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Jingwei Song	 
	Name: 	Jingwei Song	 
	Title: 	Executive Partner	 

 

 

 

    	 	12	 

    

    

 

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

 

	YANMIN WU	 
	 	 	 
	By: 	/s/ Yanmin Wu	 

 

 

 

    	 	13	 

    

    

 

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

 

	BEIJING YU HUA TONG INVESTMENT PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Zhengtong Li	 
	Name: 	Zhengtong Li	 
	Title: 	Executive Partner	 

 

 

 

    	 	14	 

    

    

 

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

 

	XIANGCHAO SHEN	 
	 	 	 
	By: 	/s/ Xiangchao Shen	 

 

 

 

    	 	15	 

    

    

 

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

 

	HUA YAO	 
	 	 	 
	By: 	/s/ Hua Yao	 

 

 

 

    	 	16	 

    

    

 

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

 

	BEIJING YU HUA SHENG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Yanfei Xue	 
	Name: 	Yanfei Xue	 
	Title: 	Executive Partner	 

 

 

 

    	 	17	 

    

    

 

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

 

	BAIHUI SUN	 
	 	 	 
	By: 	/s/ Baihui Sun	 

 

 

 

    	 	18	 

    

    

 

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

 

	BEIJING YU HUA CHENG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Feng Guo	 
	Name: 	Feng Guo	 
	Title: 	Executive Partner	 

 

 

 

    	 	19	 

    

    

 

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

 

	BEIJING YU HUA RONG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Qing Zhu	 
	Name: 	/s/ Qing Zhu	 
	Title: 	Executive Partner	 

 

 

 

    	 	20	 

    

    

 

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

 

	BEIJING BO GUAN JIE MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Jun Fu	 
	Name: 	Jun Fu	 
	Title: 	Executive Partner	 

 

 

 

    	 	21	 

    

    

 

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

 

	BEIJING BO GUAN XIN MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Xianxing Xu	 
	Name: 	Xianxing Xu	 
	Title: 	Executive Partner	 

 

 

 

    	 	22	 

    

    

 

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

 

	BEIJING BO GUAN XIN MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Changxin Gao	 
	Name: 	Changxin Gao	 
	Title: 	Executive Partners	 

 

 

 

    	 	23	 

    

    

 

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

 

	BEIJING BO GUAN TE MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Chengyu Guan	 
	Name: 	Chengyu Guan	 
	Title: 	Executive Partner	 

 

 

 

    	 	24	 

    

    

 

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

 

	BEIJING BO GUAN RONG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Ming Dai	 
	Name: 	Ming Dai	 
	Title: 	Executive Partner	 

 

 

 

    	 	25	 

    

    

 

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

 

	BEIJING BO GUAN SHENG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Zheng Wu	 
	Name: 	 Zheng Wu	 
	Title: 	 Executive Partner	 

 

 

 

    	 	26	 

    

    

 

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

 

	BEIJING BO GUAN CHENG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Xilong Ou	 
	Name: 	Xilong Ou	 
	Title: 	Executive Partner	 

 

 

 

    	 	27	 

    

    

 

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

 

	BEIJING BO GUAN TONG MANAGEMENT CONSULTING PARTNERSHIP (LIMITED PARTNERSHIP) 	 
	 	 	 
	By: 	/s/ Haiyi Jiang	 
	Name: 	Haiyi Jiang	 
	Title: 	Executive Partner	 

 

 

 

    	 	28	 

    

    

 

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

 

	BEIJING YU HUA XIN INVESTMENT PARTNERSHIP (LIMITED PARTNERSHIP)	 
	 	 	 
	By: 	/s/ Chen Guo	 
	Name: 	Chen Guo	 
	Title: 	Executive Partner	 

 

 

 

    	 	29	 

    

    

 

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

 

	CHENHUI FENG	 
	 	 	 
	By: 	/s/ Chenjui Feng	 

 

 

 

    	 	30	 

    

    

 

EXHIBIT
A

 

LIST
OF STOCKHOLDERS

 

[Intentionally Omitted]

 

 

 

    A-1

     

    

 

EXHIBIT
B

 

FORM
OF JOINDER AGREEMENT

 

This
Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining
Party”) in accordance with the Company Stockholder Support Agreement dated as of April 29, 2022 (as the same may be amended
from time to time, the “Support Agreement”), by and among CH AUTO Inc., a Cayman Islands exempted company (“Pubco”),
CH-AUTO TECHNOLOGY CORPORATION LTD., a company organized under the laws of the People’s Republic of China (the “Company”),
and Mountain Crest Acquisition Corp. IV, a Delaware corporation (“SPAC”), and the other parties thereto. Capitalized
terms used, but not defined, herein shall have the meaning ascribed to such terms in the Support Agreement.

 

By
executing and delivering this Joinder Agreement to Pubco, the Company and SPAC, the undersigned hereby agrees to become a party to, to
be bound by, and to comply with the Support Agreement as a Stockholder in the same manner as if the undersigned were an original signatory
to the Support Agreement; provided, however, that (i) the expressions of “the date hereof” and “the date
of this Support Agreement” or similar expressions in [Section 1, Section 3 and Section 7] of the Support Agreement
shall be deemed to be the date of this Joinder Agreement, and (ii) for purposes of the Support Agreement and this Joinder Agreement,
the Stockholder Shares owned by the Joining Party as of the date of this Joinder Agreement shall be [●].

 

IN
WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below.

 

Date:
_____, 202[  ]

 

[NAME
OF JOINING PARTY]

 

	By:	 	
	Name:	 	 
	Title:	 	 
	 	 	 
	Notices Information:	 
	Address:	 	 
	Email:	 	 
	Attention:	 	 

 

    B-1Exhibit 10.3

 

EXECUTION
VERSION

 

LOCK-UP
AGREEMENT

 

THIS
LOCK-UP AGREEMENT (this “Agreement”) is dated as of ______________, 2022, by and among the undersigned (the “Holder”),
CH AUTO Inc. (“Pubco”) and Mountain Crest Acquisition Corp. IV, a Delaware corporation (“SPAC”).
Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Merger Agreement (as defined
below).

 

BACKGROUND

 

A. SPAC,
Pubco, CH-AUTO TECHNOLOGY CORPORATION LTD., a company organized under the laws of the People’s Republic of China (the “Company”)
and CH-AUTO Merger Sub Corp., a Delaware corporation and a wholly owned subsidiary of Pubco (“Merger Sub”) entered
into an Agreement and Plan of Merger, dated as of April 30, 2022 (the “Merger Agreement”).

 

B. The
Merger Agreement provides, among other things, that, Merger Sub will be merged with and into the SPAC (the “Merger”)
with the SPAC becoming a wholly owned subsidiary of Pubco and each outstanding share of the common stock, par value $0.0001 per share
of SPAC will be exchanged for one ordinary share of Pubco subject to the terms and conditions in the Merger Agreement.

 

C. The
Holder is the record and/or beneficial owner of certain Pubco Ordinary Shares.

 

D.
As a condition of, and as a material inducement for SPAC to enter into and consummate the transactions contemplated by the Merger
Agreement, the Holder has agreed to execute and deliver this Agreement.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1. Lock-Up.

 

(a) During
the Lock-up Period (as defined below), the Holder irrevocably agrees that it will not offer, sell, contract to sell, pledge or otherwise
dispose of, directly or indirectly, any of the Lock-up Shares (as defined below), enter into a transaction that would have the same effect,
or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences of ownership
of such Lock-up Shares, whether any of these transactions are to be settled by delivery of any such Lock-up Shares, in cash or otherwise,
publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other
arrangement, or engage in any Short Sales (as defined below) with respect to any security of Pubco (these actions, collectively, “Transfer”).

 

(b) In
furtherance of the foregoing, Pubco will (i) place an irrevocable stop order on all Lock-up Shares, including those which may be covered
by a registration statement, and (ii) notify Pubco’s transfer agent in writing of the stop order and the restrictions on such Lock-up
Shares under this Agreement and direct the Pubco’s transfer agent not to process any attempts by the Holder to resell or transfer
any Lock-up Shares, except in compliance with this Agreement.

 

     

     

    

 

(c) For
purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule 200
promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all
types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements (including on
a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

 

(d) For
purpose of this Agreement, the “Lock-up Period” means with respect to the Lock-up Shares, the period commencing on
Closing Date and ending on the date that is six (6) months thereafter.

 

The
restrictions set forth herein shall not apply to:

 

(1)
Transfers or distributions to the Holder’s current or former general or limited partners, managers or members, stockholders, other
equity holders or direct or indirect affiliates (within the meaning of Rule 405 under the Securities Act of 1933, as amended);

 

(2)
Transfers by bona fide gift to a member of the Holder’s immediate family or to a trust, the beneficiary of which is the Holder
or a member of the Holder’s immediate family or to a charitable organization;

 

(3)
by virtue of the laws of descent and distribution upon death of the Holder;

 

(4)
by operation of law or pursuant to a court order, such as a qualified domestic relations order, divorce decree or separation agreement;

 

(5)
Transfers to a partnership, limited liability company or other entity of which the Holder and/or the Holder’s immediate family
are the legal and beneficial owner of all of the outstanding equity securities or similar interests;

 

(6)
in the case of an entity that is a trust, Transfers to a trustor or beneficiary of the trust or to the estate of a beneficiary of such
trust;

 

(7)
Transfers of any Pubco Ordinary Shares or other securities acquired as part of the PIPE Financing or issued in exchange for, or on conversion
or exercise of, any securities issued as part of the PIPE Financing;

 

(8)
Transfers relating to Pubco Ordinary Shares or other securities convertible into or exercisable or exchangeable for Pubco Ordinary Shares
acquired in open market transactions after the Closing Date, provided that no such transaction is required to be, or is, publicly
announced (whether on Form 4, Form 5 or otherwise, other than a required filing on Schedule 13F, 13G or 13G/A) during
the Lock-up Period; and

 

(9)
the entry, by the Holder, at any time after the effective time of the Merger, of any trading plan providing for the sale of Pubco Ordinary
Shares by the Holder, which trading plan meets the requirements of Rule 10b5-1(c) under the Exchange Act, provided, however,
that such plan does not provide for, or permit, the sale of any Pubco Ordinary Shares during the Lock-up Period and no public announcement
or filing is voluntarily made or required regarding such plan during the Lock-up Period;

 

in
the case of clauses (1) through (9) where such transferee agrees to be bound by the terms of this Agreement.

 

    2

     

    

 

In
addition, after the Closing Date, if there is a Change of Control, then upon the consummation of such Change of Control, all Lock-up
Shares shall be released from the restrictions contained herein. A “Change of Control” means: (a) the sale of all
or substantially all of the consolidated assets of Pubco and Pubco’s subsidiaries to a third-party purchaser; (b) a sale resulting
in no less than a majority of the voting power of Pubco being held by person that did not own a majority of the voting power prior to
such sale; or (c) a merger, consolidation, recapitalization or reorganization of Pubco with or into a third-party purchaser that results
in the inability of the pre-transaction equity holders to designate or elect a majority of the board of directors (or its equivalent)
of the resulting entity or its parent company.

 

2. Representations
and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement, hereby
represents and warrants to the others and to all third party beneficiaries of this Agreement that (a) such party has the full
right, capacity and authority to enter into, deliver and perform its respective obligations under this Agreement, (b) this
Agreement has been duly executed and delivered by such party and is a binding and enforceable obligation of such party,
enforceable against such party in accordance with the terms of this Agreement, and (c) the execution, delivery and
performance of such party’s obligations under this Agreement will not conflict with or breach the terms of any other
agreement, contract, commitment or understanding to which such party is a party or to which the assets or securities of such
party are bound.

 

3.
Beneficial Ownership. The Holder hereby represents
and warrants that it does not beneficially own, directly or through its nominees (as determined in accordance with Section 13(d)
of the Exchange Act, and the rules and regulations promulgated thereunder), any Pubco Ordinary Shares, or any economic interest
in or derivative of such stock, other than those securities specified on the signature page hereto. For purposes of this Agreement,
the Pubco Ordinary Shares beneficially owned by the Holder as specified on the signature page hereto are collectively referred
to as the “Lock-up Shares.”

 

4. No
Additional Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that
no fee, payment or additional consideration in any form has been or will be paid to the Holder in connection with
this Agreement.

 

5. Termination
of the Merger Agreement. This Agreement shall be binding upon the Holder upon the Holder’s execution and delivery of this Agreement,
but this Agreement shall only become effective upon the Closing. Notwithstanding anything to the contrary contained herein, in the event
that the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement shall automatically terminate
and become null and void, and the parties shall not have any rights or obligation hereunder.

 

6. Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be
deemed given: (a) if by hand or recognized courier service, by 4:00 PM on a Business Day, addressee’s day and time, on
the date of delivery, and otherwise on the first Business Day after such delivery; (b) if by fax or email, on the date that
transmission is confirmed electronically, if by 4:00 PM on a Business Day, addressee’s day and time, and otherwise on
the first Business Day after the date of such confirmation; or (c) five days after mailing by certified or registered mail,
return receipt requested. Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which
are for convenience only), or to such other address as a party shall specify to the others in accordance with these notice
provisions: 

 

    3

     

    

 

		(a)	If
                                            to SPAC, to:

 

Mountain
Crest Acquisition Corp. IV

311
W. 43rd Street; 12th Floor

New
York, NY 10036

Attention:
Suying Liu

Email:
sliu@mcacquisition.com

 

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

 

Loeb
& Loeb

345
Park Avenue, 19th Floor

New
York, NY 10154

Attention:
Mitchell S. Nussbaum, Esq.

E-mail:
mnussbaum@loeb.com

 

		(b)	If
                                            to the Holder, to the address set forth on the Holder’s signature page hereto, with
                                            a copy, which shall not constitute notice, to:

 

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

 

Wilson
Sonsini Goodrich & Rosati

Suite
1509, 15/F, Jardine House, 1 Connaught Place

Central,
Hong Kong

Tel:
+852 3972 4955

Attention:
Weiheng Chen, Esq.; Jie Zhu, Esq.

E-mail:
wchen@wsgr.com; jizhu@wsgr.com

 

or
to such other address as any party may have furnished to the others in writing in accordance herewith.

 

7. Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall
not control or affect the meaning or construction of any of the provisions of this Agreement.

 

8. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, but all of which shall together constitute one and the same agreement.

 

9. Successors
and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon, and
shall inure to the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby
acknowledges and agrees that this Agreement is entered into for the benefit of and is enforceable by SPAC and its successors
and assigns.

 

10. Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to
prevailing law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the
remaining provisions of this Agreement shall remain in full force and effect and shall be binding upon the parties
hereto.

 

    4

     

    

 

11. Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

12. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

 

13. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

14. Governing
Law. The terms and provisions of this Agreement shall be construed in accordance with the laws of the State of
Delaware.

 

15. Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time
to time) directly conflicts with a provision in the Merger Agreement, the terms of this Agreement shall control.

 

[Signature
Page Follows]

 

    5

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	MOUNTAIN CREST ACQUISITION CORP. IV
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature
Page to Lock-up Agreement]

 

    6

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	NAME OF HOLDER:
	 	 	 
	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	Address:	 
	 	 	Attention:	 
	 	 	Email:	 
	 	 	 
	 	NUMBER OF LOCK-UP SHARES: __________

 

[Signature Page to Lock-up Agreement]

 

    7

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