SEC Contract Filing

Filing Date: 2022-01-11

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d253532dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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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="right">Final Form </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INVESTOR RIGHTS
AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS INVESTOR RIGHTS AGREEMENT (as it may be amended, supplemented or restated from time to time in accordance with the
terms of this Agreement, this &#147;<U>Agreement</U>&#148;), dated as of January&nbsp;5, 2022 (the &#147;<U>Effective Date</U>&#148;), is made by and among (i)&nbsp;VPC Impact Acquisition Holdings III, Inc., a Delaware corporation (the
&#147;<U>Parent</U>&#148;), (ii) each of the parties listed on <U>Schedule 1</U> attached hereto (collectively, the &#147;<U>Dave Stockholders</U>&#148; and each, a &#147;<U>Dave Stockholder</U>&#148;), (iii) VPC Impact Acquisition Holdings Sponsor
III, LLC, a Delaware limited liability company (the &#147;<U>Sponsor</U>&#148;), and (iv)&nbsp;Peter Offenhauser, Kurt Summers and Janet Kloppenburg (collectively, the &#147;<U>VIH Independent Directors</U>&#148; and each, a &#147;<U>VIH Independent
Director</U>&#148; and together with the Sponsor, the &#147;<U>Founder Holders</U>&#148; and each, a &#147;<U>Founder Holder</U>&#148;). Each of Parent, each Dave Stockholder and each Founder Holder may be referred to herein as a
&#147;<U>Party</U>&#148; and collectively as the &#147;<U>Parties</U>&#148;. Capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Merger Agreement (as defined below). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Parent
has entered into that certain Agreement and Plan of Merger, dated as of June&nbsp;7, 2021 (as it may be amended, supplemented or restated from time to time in accordance with the terms of such agreement, the &#147;<U>Merger Agreement</U>&#148;), by
and among Parent, Bear Merger Company I Inc.,<B> </B>a<B> </B>Delaware corporation<B> </B>and a direct, wholly owned subsidiary of Parent<B> </B>(&#147;<U>First Merger Sub</U>&#148;),<B> </B>Bear Merger Company II LLC, a Delaware limited liability
company and a direct, wholly owned subsidiary of Parent (&#147;<U>Second Merger Sub</U>&#148;, and together with First Merger Sub, the &#147;<U>Merger Subs</U>&#148;) and Dave, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to the Merger Agreement, (a)&nbsp;First Merger Sub will merge with and into the Company (the &#147;<U>First
Merger</U>&#148;), with the Company being the surviving corporation of the First Merger (the Company, in its capacity as the surviving corporation of the First Merger, is sometimes referred to as the &#147;<U>Surviving Corporation</U>&#148;); and
(b)&nbsp;immediately following the First Merger and as part of the same overall transaction as the First Merger, the Surviving Corporation will merge with and into Second Merger Sub (the &#147;<U>Second Merger</U>&#148; and, together with the First
Merger, the &#147;<U>Mergers</U>&#148;), with Second Merger Sub being the surviving company of the Second Merger (Second Merger Sub, in its capacity as the surviving company of the Second Merger, is sometimes referred to as the &#147;<U>Surviving
Entity</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection with the consummation of the Mergers, Parent will adopt that certain Second Amended and
Restated Certificate of Incorporation<B> </B>of Parent (as it may be further amended, supplemented or restated from time to time in accordance with the terms thereof, the &#147;<U>Parent Charter</U>&#148;) and adopt the Amended and Restated Bylaws
of Parent (as it may be further amended, supplemented or restated from time to time in accordance with the terms thereof, the &#147;<U>Parent Bylaws</U>&#148;), pursuant to which, among other things, Parent will establish a dual-class structure
containing Class&nbsp;A Common Stock, which will carry such economic and voting rights as set forth in the Parent Charter and Parent Bylaws, and a newly established Class&nbsp;V Common Stock, which will carry such economic and voting rights as set
forth in the Parent Charter and Parent Bylaws; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Parent and the Founder Holders entered into that certain Registration Rights
Agreement, dated as of March&nbsp;4, 2021 (the &#147;<U>Original RRA</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection with the execution of this
Agreement, Parent and the Founder Holders desire to terminate the Original RRA and replace it with this Agreement; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on the Effective Date, the Parties desire to set forth their agreement with respect
to governance