SEC Contract Filing

Filing Date: 2021-03-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>7
<FILENAME>ea138563ex10-2_northern3.htm
<DESCRIPTION>INVESTMENT MANAGEMENT TRUST AGREEMENT BETWEEN CONTINENTAL STOCK TRANSFER & TRUST COMPANY AND THE COMPANY
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INVESTMENT MANAGEMENT TRUST AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Agreement is made
as of March 23, 2021 by and between Northern Genesis Acquisition Corp. III (the &ldquo;<U>Company</U>&rdquo;) and Continental Stock
Transfer &amp; Trust Company (&ldquo;<U>Trustee</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company&rsquo;s
registration statement on Form S-1, No. 333-253234 (&ldquo;<U>Registration Statement</U>&rdquo;) for its initial public offering
of securities (&ldquo;<U>IPO</U>&rdquo;) has been declared effective as of the date hereof (&ldquo;<U>Effective Date</U>&rdquo;)
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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, Morgan Stanley
&amp; Co. LLC, Wells Fargo Securities, LLC, and TD Securities (USA) LLC (the &ldquo;<U>Representatives</U>&rdquo;) are acting as
the representatives of the several underwriters in the IPO (the &ldquo;<U>Underwriters</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, as described in
the Registration Statement, and in accordance with the Company&rsquo;s Amended and Restated Certificate of Incorporation, $150,000,000
($172,500,000 if the over-allotment option is exercised in full) of the proceeds from the IPO and a simultaneous private placement
of warrants will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the
United States (the &ldquo;<U>Trust Account</U>&rdquo;) for the benefit of the Company and the holders of the Company&rsquo;s common
stock, par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;), issued in the IPO as hereinafter provided (the proceeds
to be delivered to the Trustee will be referred to herein as the &ldquo;<U>Property</U>&rdquo;; the stockholders for whose benefit
the Trustee shall hold the Property will be referred to as the &ldquo;<U>Public Stockholders</U>,&rdquo; and the Public Stockholders
and the Company will be referred to together as the &ldquo;<U>Beneficiaries</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, <FONT STYLE="background-color: white">pursuant
to the Underwriting Agreement, a portion of the Property up to $5,250,000, or up to $6,037,500 if the Underwriters&rsquo; over-allotment
option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company
to the Underwriters upon and concurrently with the consummation of the Business Combination (as defined below) (the &ldquo;<U>Deferred
Discount</U>&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0; text-indent: 0.5in">IT IS AGREED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Agreements and Covenants of Trustee</U>. The Trustee hereby agrees and covenants to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a) Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by
the Trustee initially at J.P. Morgan Chase Bank, 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 Company that
is reasonably s