SEC Contract Filing

Filing Date: 2022-09-07

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>ex10-2.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
OF </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NON-COMPETITION
AND NON-SOLICITATION AGREEMENT</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this &ldquo;<B><I>Agreement</I></B>&rdquo;) is being executed and delivered as of September
7, 2022, by the individual set forth on the signature page hereto (the &ldquo;<B><I>Subject Party</I></B>&rdquo;) in favor of and for
the benefit of <B>Pono Capital Corp.</B>, a Delaware corporation, which will be known after the consummation of the transactions contemplated
by the Merger Agreement (as defined below) as &ldquo;Aerwins Technologies, Inc.&rdquo; (including any successor entity thereto, the &ldquo;<B><I>Purchaser</I></B>&rdquo;),
<B>AERWINS Technologies Inc</B>. (the &ldquo;<B><I>Company</I></B>&rdquo;), and each of the Purchaser&rsquo;s and/or the Company&rsquo;s
respective Affiliates, successors and direct and indirect Subsidiaries (collectively with the Purchaser and the Company, the &ldquo;<B><I>Covered
Parties</I></B>&rdquo;). Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the
Merger Agreement. Purchaser, the Company and Subject Party may be referred to herein individually as a &ldquo;<B><I>Party</I></B>&rdquo;
and collectively as the &ldquo;<B><I>Parties</I></B>&rdquo;.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
on September 7, 2022, (i) the Purchaser, (ii) Pono Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Purchaser
(&ldquo;<B><I>Merger Sub</I></B>&rdquo;), (iii) Mehana Equity LLC, a Delaware limited liability company, (iv) Shuhei Komatsu, in the
capacity as representative for the Company Stockholders, and (v) the Company entered into that certain Agreement and Plan of Merger (the
&ldquo;<B><I>Merger Agreement</I></B>&rdquo;), pursuant to which, subject to the terms and conditions thereof, the Merger Sub will merge
with and into the Company, with the Company continuing as the surviving entity (the &ldquo;<B><I>Merger</I></B>&rdquo;), and with the
Company&rsquo;s stockholders receiving shares of the Purchaser&rsquo;s common stock;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Company, is engaged in the business of inventing, developing and manufacturing drones and other technology in the air infrastructure
and air mobility space (the &ldquo;<B><I>Business</I></B>&rdquo;);</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
in connection with, and as a condition to the execution and delivery of the Merger Agreement and the consummation of the Merger and the
other transactions contemplated thereby (the &ldquo;<B><I>Transactions</I></B>&rdquo;), and to enable the Purchaser to secure more fully
the benefits of the Transactions, including the protection and maintenance of the goodwill and confidential information of the Company,
the Purchaser has required that the Subject Party enter into this Agreement;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Subject Party is entering into this Agreement in order to induce the Purchaser and Merger Sub to consummate the Transactions, pursuant
to which the Subject Party will directly or indirectly receive a material benefit; and</FONT></P>

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