SEC Contract Filing

Filing Date: 2021-11-30

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d236832dex102.htm
<DESCRIPTION>EX-10.2
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 <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>FORM OF INVESTOR RIGHTS AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS INVESTOR RIGHTS AGREEMENT</B> (this &#147;<B>Agreement</B>&#148;) is entered into as of [&#149;], 202_, by and among Griid
Infrastructure Inc. (f/k/a Adit EdTech Acquisition Corp.), a Delaware corporation, (the &#147;<B>Company</B>&#148;) and the parties listed as Investors on Schedule I hereto (each, including any person or entity who hereinafter becomes a party to
this Agreement pursuant to <U>Section</U><U></U><U>&nbsp;6.2</U>, an &#147;<B>Investor</B>&#148; and collectively, the &#147;<B>Investors</B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company, ADEX Merger Sub, LLC, a Delaware limited liability company (&#147;<B>Merger Sub</B>&#148;), and Griid Holdco LLC, a
Delaware limited liability company (&#147;<B>Griid</B>&#148;) have entered into that certain Agreement and Plan of Merger, dated as of November 29, 2021 (as amended or supplemented from time to time, the &#147;<B>Merger Agreement</B>&#148;),
pursuant to which, among other things, Merger Sub merged with and into Griid, with Griid being the surviving company (the &#147;<B>Merger</B>&#148;) on the terms and subject to the conditions set forth therein (together with the other transactions
contemplated by the Merger Agreement, the &#147;<B>Transactions</B>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company, Adit EdTech Sponsor, LLC, a Delaware
limited liability company (&#147;<B>Sponsor</B>&#148;) and Jacob Cohen, Sharmila Kassam, Sheldon H. Levy, Vuk Jeremic, Eva Kaili, and William Bennett (such individuals, collectively, the &#147;<B>ADEX Holders</B>&#148;) are parties to that certain
Registration Rights Agreement, dated January&nbsp;11, 2021 (the &#147;<B>Prior ADEX Agreement</B>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Sponsor and the
ADEX Holders currently hold, in the aggregate, 6,900,000 shares (the &#147;<B>Founder Shares</B>&#148;) of the Company&#146;s common stock, par value $0.0001 per share (&#147;<B>Common Stock</B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on January&nbsp;11, 2021, the Company and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement,
pursuant to which the Sponsor purchased warrants to purchase up to 7,270,000 shares of Common Stock, at an initial exercise price of $11.50 per share, in a private placement transaction occurring simultaneously with the closing of the Company&#146;s
initial public offering, all of which are currently outstanding and held by the Sponsor (the &#147;<B>Private Placement Warrants</B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Prior ADEX Agreement provided for, among other things, certain registration rights with respect to the Founder Shares, the
Private Placement Warrants and warrants to purchase shares of Common Stock, which may be issued upon conversion of working capital loans made to the Company (the &#147;<B>Working Capital Warrants</B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, certain investors in Griid (&#147;<B>Griid Investors</B>&#148;) held, immediately prior to the Effective Time under (and as defined
in) the Merger Agreement (a)&nbsp;units of the Company designated as Class&nbsp;A Units under the Griid LLC Agreement (as defined below) (&#147;<B>Griid Class</B><B></B><B>&nbsp;A Units</B>&#148;); (b) units of the Company designated as Class&nbsp;B
Units under the Griid LLC Agreement (&#147;<B>Griid Class</B><B></B><B>&nbsp;B Units</B>&#148;); and (c)&nbsp;units of the Company designated as Class&nbsp;C Units under the Griid LLC Agreement (&#147;<B>Griid Class</B><B></B><B>&nbsp;C
Units</B><B>&#148;</B> and together with Griid Class&nbsp;A Units and Griid Class&nbsp;B Units, the &#147;<B>Griid Units</B>&#148;); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, at the Effective Time, the Griid Units were exchanged for shares of Common Stock
pursuant to the Merger Agreement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company, the Sponsor and the ADEX Holders desire to terminate the Prior ADEX Agreement
pursuant to Section&nbsp;6.7 thereof to provide for the terms and conditions included herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the
mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are