SEC Contract Filing

Filing Date: 2023-12-07

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d870190dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PUT OPTION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Put Option Agreement (this &#147;<B><I>Agreement</I></B>&#148;) is entered into as of
<U></U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2024 by and among (i)&nbsp;Achari Ventures Holdings Corp. I, a Delaware corporation (the &#147;<B><I>SPAC</I></B>&#148;), (ii) Achari
Sponsor Holdings I LLC, a Delaware limited liability company (the &#147;<B><I>Sponsor</I></B>&#148;), and (iii)&nbsp;Vaso Corporation, a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;). Each of SPAC, the Sponsor and the Company are
sometimes individually referred to herein as a &#147;<B><I>Party</I></B>&#148; and are sometimes collectively referred to as the &#147;<B><I>Parties</I></B>&#148; herein. Capitalized terms not defined herein shall have the respective meanings
assigned to such terms in the Business Combination Agreement (as defined below). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Recitals </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, SPAC is a special purpose acquisition company, also known as a blank check company, formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, SPAC has entered into a Business Combination Agreement, dated as of December 6, 2023 (as it may be further amended or supplemented
from time to time in accordance with its terms, the &#147;<B><I>Business Combination Agreement</I></B>&#148;), by and among (i)&nbsp;SPAC, (ii) Achari Merger Sub, Inc., a Delaware corporation, and (iii)&nbsp;the Company (the transactions
contemplated by the Business Combination Agreement, the &#147;<B><I>Business Combination</I></B>&#148;), and SPAC shall file a registration statement/definitive proxy statement with the U.S. Securities and Exchange Commission (the
&#147;<B><I>Commission</I></B>&#148;) that seeks, among other things, approval from the stockholders of the Company and SPAC of the Business Combination at special meeting(s) of such stockholders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, prior to or concurrently with the approval of the Business Combination, the Company will obtain any and all required approvals from
the Company&#146;s stockholders or otherwise, and take all other actions necessary or advisable to secure any such required approvals from the Company&#146;s stockholders or otherwise; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties wish to enter into this Agreement, pursuant to which, and in accordance with certain provisions of the Sponsor Letter
Agreement, concurrently and/or directly following the consummation of the Business Combination, and pursuant to the circumstances described below, (i)&nbsp;certain members of the Sponsor, who directly own Founder Shares and/or Private Placement
Warrants (each, as defined in the Sponsor Letter Agreement) in their respective individual capacities, and, for the avoidance of doubt, separate and distinct from any indirect ownership in any such Founder Shares and/or Private Placement Warrants
such members may hold via any ownership interests they may separately have in the Sponsor (collectively, the &#147;<B><I>Achari Put Holders</I></B>&#148;), shall transfer any and all direct ownership interests in such Founder Shares and/or Private
Placement Warrants to the Sponsor upon the consummation of the Business Combination, (ii)&nbsp;such Founder Shares, consisting of, prior to the consummation of the Business Combination, in the aggregate, 2,500,000 shares of SPAC&#146;s common stock,
par value $0.0001 per share (the &#147;<B><I>Founder Shares</I></B>&#148;), but which, concurrently with the consummation of the Business Combination, and pursuant to the terms and in accordance with the provisions of the Sponsor Letter Agreement,
shall be forfeited, surrendered and/or transferred by the Sponsor (and thereafter cancelled by the Company), such that, immediately after such forfeiture, surrender and/or transfer by the Sponsor, the Sponsor shall hold and be the sole owner of
750,000 SPAC New Shares (as such term is defined in the Business Combination Agreement and as may be adjusted pursuant to the terms hereof) on the Closing Date, in accordance with the terms of the Sponsor Letter Agreement, and (iii)&nbsp;the Company
shall grant the Achari Put Holders (such Achari Put Holders initially consisting solely of the Sponsor, as further described below) certain Achari Put Options (as defined below); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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