SEC Contract Filing

Filing Date: 2022-08-01

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>ea163626ex10-2_socialleve1.htm
<DESCRIPTION>SPONSOR LETTER AGREEMENT, DATED AS OF JULY 31, 2022, BY AND AMONG W3BCLOUD HOLDINGS INC., SOCIAL LEVERAGE ACQUISITION CORP I, SOCIAL LEVERAGE ACQUISITION SPONSOR I LLC AND THE OTHER PARTIES THERETO
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<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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SPONSOR LETTER AGREEMENT </B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This <B>SPONSOR LETTER AGREEMENT</B> (this &ldquo;<U>Agreement</U>&rdquo;)
is dated as of July 31, 2022, by and among W3BCLOUD Holdings Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), Social Leverage
Acquisition Corp I, a Delaware corporation (the &ldquo;<U>Parent</U>&rdquo; or &ldquo;<U>PubCo</U>&rdquo;), Social Leverage Acquisition
Sponsor I LLC, a Delaware limited liability company (the &ldquo;<U>Sponsor</U>&rdquo;), and the other undersigned persons (each such other
undersigned person, an &ldquo;<U>Insider</U>&rdquo; and, collectively, the &ldquo;<U>Insiders</U>&rdquo;). Capitalized terms used but
not defined herein shall have the respective meanings given to such terms in the Transaction Agreement (as defined below).</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WHEREAS, as of the date hereof, the Sponsor is the holder of record
and the &ldquo;beneficial owner&rdquo; (within the meaning of Rule 13d-3 under the Exchange Act) of (i) 8,625,000 shares of Class B common
stock of the Parent (the &ldquo;<U>Sponsor Shares</U>&rdquo;), with such Sponsor Shares convertible into shares of the Parent&rsquo;s
Class A common stock, par value $0.0001 per share (the &ldquo;<U>Common Stock</U>&rdquo;), on the terms and conditions provided in the
Parent&rsquo;s amended and restated certificate of incorporation (the &ldquo;<U>Certificate of Incorporation</U>&rdquo;) and (ii) 6,000,000
private placement warrants of the Parent (the &ldquo;<U>Private Placement Warrants</U>&rdquo;), each exercisable for one share of Common
Stock to purchase an aggregate of 6,000,000 shares of Common Stock.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WHEREAS, contemporaneously with the execution and delivery of this
Agreement, the Parent, SLAC Merger Sub, Inc., a Delaware corporation (&ldquo;<U>Merger Sub</U>&rdquo;), (iii) the Company have entered
into a Business Combination Agreement (as amended or modified from time to time, the &ldquo;<U>Transaction Agreement</U>&rdquo;), dated
as of the date hereof, whereby the parties thereto intend to effect a business combination where Merger Sub will merge with and into the
Company, with the Company continuing as the surviving entity and a wholly-owned subsidiary of the Parent, on the terms and subject to
the conditions set forth therein (collectively, the &ldquo;<U>Transactions</U>&rdquo; and the closing of the Transactions, the &ldquo;<U>Closing</U>&rdquo;),
and as a result of which each share of (A) Company Class A Common Stock (as defined in the Transaction Agreement) issued and outstanding
immediately prior to the effective time of the Transaction Agreement, and all rights in respect thereof, shall be canceled and automatically
converted into and become the right to receive the Company Class A Per Share Consideration (as defined in the Transaction Agreement) and
(B) Company Class B Common Stock (as defined in the Transaction Agreement) issued and outstanding immediately prior to the effective time
of the Transaction Agreement, and all rights in respect thereof, shall be canceled and automatically converted into and become the right
to receive the Company Class B Per Share Consideration (as defined in the Transaction Agreement) ((A) and (B), collectively, the &ldquo;<U>Merger
Consideration</U>&rdquo;) by virtue of the Merger and without any action on the part of the parties to the Transaction Agreement or any
of their respective stockholders, all upon the terms and subject to the conditions set forth in the Transaction Agreement; and</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WHEREAS, as an inducement to the Parent, Merger Sub and the Company
to enter into the Transaction Agreement and to consummate the Transactions, the Sponsor is entering into this Agreement to provide for
the transfer of certain of the Sponsor Shares and the imposition of certain restrictions on transfer with respect to other of the Sponsor
Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>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-align: justify; margin: 0pt 0">NOW, THEREFORE, in consideration of the foregoing and the mutual agreements
contained h