SEC Contract Filing

Filing Date: 2023-08-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>tm2323399d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

<P STYLE="text-align: right; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 204.5pt"><B>SPONSOR SUPPORT AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">This
SPONSOR SUPPORT AGREEMENT, dated as of August&nbsp;8, 2023 (this &ldquo;<U>Agreement</U>&rdquo;), by and among Maquia Investments North
America, LLC, a Delaware limited liability company (&ldquo;<U>Sponsor</U>&rdquo;), certain of the stockholders, officers and directors
of Maquia Capital Acquisition Corporation, a Delaware corporation (&ldquo;<U>SPAC</U>&rdquo;), whose names appear on the signature pages&nbsp;of
this Agreement (together with the Sponsor, the &ldquo;<U>Sponsor Parties</U>&rdquo;), and Immersed Inc, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">WHEREAS,
SPAC, Maquia Merger Sub,&nbsp;Inc., a Delaware corporation and wholly owned subsidiary of SPAC (&ldquo;<U>Merger Sub</U>&rdquo;), and
the Company propose to enter into, simultaneously herewith, a business combination agreement (the &ldquo;<U>BCA</U>&rdquo;; terms used
but not defined in this Agreement shall have the meanings ascribed to them in the BCA), which provides, among other things, that, upon
the terms and subject to the conditions thereof, Merger Sub will be merged with and into the Company (the &ldquo;<U>Merger</U>&rdquo;),
with the Company surviving the Merger as a wholly owned subsidiary of SPAC;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">WHEREAS,
as of the date hereof, each Sponsor Party owns of record the number of shares of SPAC Class&nbsp;A Common Stock and/or SPAC Class&nbsp;B
Common Stock as set forth opposite such Sponsor Party&rsquo;s name on <U>Exhibit&nbsp;A</U> hereto (all such shares of SPAC Class&nbsp;A
Common Stock and SPAC Class&nbsp;B Common Stock and any shares of SPAC Class&nbsp;A Common Stock and SPAC Class&nbsp;B Common Stock of
which ownership of record or the power to vote is hereafter acquired by any of the Sponsor Parties prior to the termination of this Agreement
being referred to herein as the &ldquo;<U>Shares</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">WHEREAS,
at the Closing, Sponsor will subject 1,362,000 of its shares of New SPAC Common Stock (the &ldquo;<U>Sponsor Earn-Out Shares</U>&rdquo;)
to forfeiture pursuant to <U>Section&nbsp;3</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the receipt and sufficiency
of which is hereby acknowledged, and intending to be legally bound, the parties hereto hereby agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement
to Vote</U>. Subject to the earlier termination of this Agreement in accordance with <U>Section&nbsp;13</U>, each Sponsor Party, severally
and not jointly, agrees that, at the SPAC Stockholders&rsquo; Meeting and in connection with any written consent of the SPAC Stockholders,
such Sponsor Party shall vote (or duly and promptly execute and deliver an action by written consent), or cause to be voted at such meeting
(or cause such consent to be duly and promptly executed and delivered with respect to), all of his, her or its Shares (i)&nbsp;in favor
of the approval and adoption of the BCA, the Transactions and any other proposal submitted for approval by the SPAC Stockholders in connection
with the Transactions, and (ii)&nbsp;against any action, agreement or transaction or proposal that would result in a breach of any covenant,
representation or warranty or any other obligation or agreement of SPAC under the BCA or that would reasonably be expected to delay the
consummation of the Transactions, increase the likelihood of the failure of the consummation of the Transactions or result in the failure
of the Transactions from being consummated. Each Sponsor Party acknowledges receipt and review of a copy of the BCA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">2