SEC Contract Filing

Filing Date: 2021-09-29

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>6
<FILENAME>d226255dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <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="center"><B>INVESTMENT MANAGEMENT TRUST AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Investment Management Trust Agreement (this &#147;<B><I>Agreement</I></B>&#148;) is made effective as of September 23, 2021 by and
between Direct Selling Acquisition Corp., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and Continental Stock Transfer&nbsp;&amp; Trust Company, a New York corporation (the &#147;<B><I>Trustee</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">S-1,</FONT> File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-258997</FONT> (the &#147;<B><I>Registration Statement</I></B>&#148;) and prospectus (the &#147;<B><I>Prospectus</I></B>&#148;) for its initial public offering (the &#147;<B><I>Offering</I></B>&#148;) of the
Company&#146;s units (the &#147;<B><I>Units</I></B>&#148;), each of which consists of one share of the Company&#146;s Class&nbsp;A common stock, par value $0.0001 per share (the &#147;<B><I>Common Stock</I></B>&#148;), and <FONT
STYLE="white-space:nowrap">one-half</FONT> of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Common Stock, has been declared effective as of the date hereof by the U.S. Securities and Exchange
Commission; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company has entered into an Underwriting Agreement (the &#147;<B><I>Underwriting
Agreement</I></B>&#148;) with BTIG LLC (&#147;<B><I>BTIG</I></B>&#148;), as the representative (the &#147;<B><I>Representative</I></B>&#148;) of the several underwriters (the &#147;<B><I>Underwriters</I></B>&#148;) named therein; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, as described in the Prospectus, $204,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants
(as defined in the Underwriting Agreement) (or $234,600,000 if the Underwriters&#146; over-allotment option is exercised in full) 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 &#147;<B><I>Trust Account</I></B>&#148;) for the benefit of the Company and the holders of shares of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee
(and any interest subsequently earned thereon) is referred to herein as the &#147;<B><I>Property</I></B><I>,</I>&#148; the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the &#147;<B><I>Public
Stockholders</I></B>,&#148; and the Public Stockholders and the Company will be referred to together as the &#147;<B><I>Beneficiaries</I></B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, pursuant to the Underwriting Agreement, a portion of the Property equal to $7,000,000, or $8,050,000 if the Underwriters&#146;
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 &#147;<B><I>Deferred Discount</I></B>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, 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="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, IT IS AGREED:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Agreements and Covenants of Trustee</U>. The Trustee hereby agrees and covenants to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(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 in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100&nbsp;billion or more) in the United States, maintained by the Trustee and at a brokerage institution selected
by the Trustee that is reasonably satisfactory to the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Manage, supervise and administer the Trust Account subject to the
terms and conditions set forth herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) In a timely manner, upon the written instruction of the Company, invest and reinvest the
Property solely in United States government securities within the meaning of Section&nbsp;2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of
paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule <FO