SEC Contract Filing

Filing Date: 2022-09-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>7
<FILENAME>g083193_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This&nbsp; <FONT STYLE="text-transform: uppercase">CONSENT
</FONT>(this &ldquo;<B><I>Agreement</I></B>&rdquo;) is made as of September 13, 2022 (the &ldquo;<B><I>Effective Date</I></B>&rdquo;)
between Soluna Holdings, Inc., Nevada corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and the undersigned holder (the &ldquo;<B><I>Holder</I></B>&rdquo;)
of Series B Convertible Preferred Stock (the &ldquo;<B><I>Series B Preferred Stock</I></B>&rdquo;) of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><U>Recitals</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Holder purchased from the Company, and the Company sold to the Holder, the Series B Preferred Stock pursuant to that certain
Securities Purchase Agreement dated as of July 19, 2022 (the &ldquo;<B><I>Purchase Agreement</I></B>&rdquo;). All terms used herein
that are defined in the Purchase Agreement and not otherwise defined herein shall have the meanings ascribed to them in the Purchase
Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
Section 4.11(a) of the Purchase Agreement provides, among other things, that from the date thereof until the earlier of (i) three
(3) years after the Closing Date, and (ii) if any amount in excess of an aggregate of $500,000 of all Series B Preferred Stock
or at least 100,000 Warrants remains outstanding, the Company shall not issue, enter into any agreement to issue or announce the
issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents, preferred stock, or equity of the Company
at a price or effective price that is less than the highest price per share of the securities issued or issuable in the offering
including but not limited to the Warrants and the Warrant Shares; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Company intends to enter into an Addendum Amendment (the &ldquo;<B><I>Amendment</I></B>&rdquo;) between the Company and the
holders (the &ldquo;<B><I>Noteholders</I></B>&rdquo;) of the Company&rsquo;s Secured Convertible Notes, due October 25, 2022, substantially
in the form attached as <U>Exhibit A</U> hereto, pursuant to which, among other things, the Company would issue to the Noteholders
Common Stock and Common Stock equivalents at a price or effective price that is less than the highest price per share of the securities
issued or issuable in the offering including but not limited to the Warrants and the Warrant Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore</B></FONT>, in consideration of the mutual promises and other good and valuable consideration set forth herein, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Holder, intending to be legally bound, hereby agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><U>Agreement
</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">1.
&nbsp;&nbsp; </FONT><U>Consent</U>. The Holder hereby consents to the Company entering into and performing the Amendment and the
issuance of any and all Common Stock and Common Stock Equivalents pursuant thereto, and further acknowledges and agrees that the
execution and performance of the Amendment and any and all documents related thereto will not constitute a default or event of
default under the terms of the Purchase Agreement or any of the Transaction Documents. The consent set forth herein shall be effective
only in this specific instance and for the specific purpose set forth herein and does not allow for any other or further departure
from the terms and conditions of the