SEC Contract Filing

Filing Date: 2023-01-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>rc014_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THIS
PROMISSORY NOTE (&ldquo;NOTE&rdquo;) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;).
THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE
THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>PROMISSORY
NOTE</U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal
Amount: US$50,000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dated: January
19, 2023</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">New York,
New York</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FOR
VALUE RECEIVED</B>, TradeUP Acquisition Corp. (the &ldquo;<B>Maker</B>&rdquo; or the &ldquo;<B>Company</B>&rdquo;)&nbsp;promises to pay
to the order of TradeUP Acquisition Sponsor LLC,&nbsp;or its registered assignees or successors in interest (the <B>&ldquo;Payee</B>&rdquo;),
the principal sum of US$ FIFTY THOUSAND (US$50,000, on the terms and conditions described below. All payments on this Note shall be made
by wire transfer of immediately available funds to such account as the Payee may from time to time designate by written notice in accordance
with the provisions of this note (the &ldquo;<B>Note</B>&rdquo;).</FONT></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Principal.
 </B>The principal balance of this Note shall be payable by the Maker to the Payee upon the
 date on which the Maker consummates a business combination or merger with a qualified target
 company (as described in its Prospectus (as defined below)) (a &ldquo;<B>Business Combination</B>&rdquo;)
 or the date of expiry of the term of the Maker, whichever is earlier (such date, the &ldquo;<B>Maturity
 Date</B>&rdquo;). The principal balance may be prepaid at any time prior to the Maturity
 Date without penalty. Under no circumstances shall any individual, including but not limited
 to any officer, director, employee or stockholder of the Maker, be obligated personally for
 any obligations or liabilities of the Maker hereunder.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Conversion
 Rights</B>. The Payee has the right, but not the obligation, to convert this Note, in whole
 or in part, into private shares of the Class A common stock (the &ldquo;<B>Shares</B>&rdquo;)
 of the Maker, as described in the Prospectus of the Maker (File Number 333-253322) (the &ldquo;<B>Prospectus</B>&rdquo;),
 by providing the Maker with written notice of its intention to convert this Note at least
 two business days prior to the closing of a Business Combination. The number of Shares to
 be received by the Payee in connection with such conversion shall be an amount determined
 by dividing (x) the sum of the outstanding principal amount payable to such Payee by (y)
 $10.00.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><F