展品10.2

註冊權協議形式

本登記權協議（以下簡稱「本協議」協議”) 截至2024年10月22日，由特拉華州公司PSQ Holdings, Inc.（下稱“公司”）和 此處簽署的若干購買者（包括其繼承人和受讓人，統稱爲“買方(m) 公司的企業架構描述以及各個子公司和聯營公司之間的合同（各自爲「」，共同爲「」），如最新招股說明書和說明書所述，在所有重要方面均是真實準確的，沒有遺漏任何重大事實，該描述會產生誤導。沒有其他重要的協議、合同或其他文檔與公司及其子公司和關聯實體整個運營相關的，它們之前不曾披露或提供給承銷商並披露於最新招股說明書和說明書中。購買者”).

本協議是根據證券購買協議制定的，該協議日期爲本協議簽署日期，公司與每位購買方（以下簡稱“購買協議”).

現在，鑑於本協議中包含的相互約定，並且爲了其他良好和有價值的考慮，公司及每位購買方同意如下：

1. 定義在本協議中使用但未另行定義的大寫術語，其含義應根據《購買協議》中對該等術語的定義。在本協議中使用的下列術語應具有以下含義：

“建議”指的是 第6(d)部分.

“協議「」在序言中所述

“允許暫停 第6（d）節.

“普通股”意味着公司的A類普通股，每股面值$0.0001，並且任何其他類證券的股票，將來可能重新分類或更改爲其他類證券。

“公司「」在序言中有特定含義

“生效日期。「」表示註冊聲明根據提交的日期首次由委員會宣佈生效。 。每個認購單位應支付的購買價格應等於每個企業單位在 第2(a)章 中的價格。 是由委員會首次宣佈生效的註冊聲明提交的日期。

“有效期截止日期對於初始註冊聲明或新註冊聲明而言，”90”表示90日曆日^th 在提交該註冊聲明的日期後的第90日曆日（或者，如果委員會審查並對初始註冊聲明或新註冊聲明提出書面意見，則爲提交日期後的第120日曆日^th 提交日期後的第120日曆日); 但是，如果（i）公司收到委員會通知，稱初始註冊聲明或新註冊聲明將不會被審查或不再需要進一步審查和意見，則該註冊聲明的生效期限應爲公司收到此類通知之後的第五個交易日，如果此日期早於上述要求的日期；並且（ii）如果生效期限爲星期六、星期日或委員會停業的其他日期，則生效期限應延長至委員會恢復營業的下一個工作日。

“有效期 第2（b）節.

“提交截止日期「」意味着， 就要求根據初始登記聲明提交的情況而言 。每個認購單位應支付的購買價格應等於每個企業單位在 第2(a)章 中的價格。，不遲於收盤日後第180^th 日曆日，但前提是，如果提交截止日期落在星期六、星期日或其他業務停止營業的日子，提交截止日期將延長至證券交易委員會下次開放的業務日。

“FINRA”指的是 第3(i)節的首段文字在此全文替換爲如下內容：.

“持有人「」或「」持有人「持有人」指不時持有註冊證券的持有人或持有人。

“受保護方 第5（c）條款.

“賠償方 第5（c）條款.

“初始註冊聲明 。每個認購單位應支付的購買價格應等於每個企業單位在 第2(a)章 中的價格。.

“損失”指的是 第5(a)節.

“新註冊聲明” 其含義載於 第 2 (a) 節.

“主要市場「交易所」指普通股主要上市和報價交易的交易市場，截止日期時，應爲紐約證券交易所。

“10）計劃不屬於「其他企業」。企業應根據適用法律的規定全額賠償公司董事，該董事因爲他或她是或曾是公司董事、高級職員、僱員或代理人或是根據公司要求作爲另一家公司、合夥企業、聯營企業、信託或其他企業的董事、高級職員、僱員或代理人而受到威脅、正在進行中或已完成的程序產生的實際和合理費用（包括律師費）、裁決、罰款和結算費用。「」 意爲行爲、索賠、訴訟、調查或程序（包括但不限於調查或部分程序，如證詞），無論是已經開始還是受到威脅。

“招股書「」指的是註冊聲明中包括的招股說明書（包括但不限於作爲有效註冊聲明的一部分依據《證券法》第4300億條頒佈的規則的任何信息而之前省略的招股說明書，如有任何通過招股說明書補充或修訂的，涉及註冊聲明中任何部分可註冊證券發行條款的招股說明書，以及招股說明書的所有其他修訂和補充，包括後期生效的修訂，以及招股說明書中引用的或被視爲引用的所有重要信息。

“購買協議“ 在序言中所述的意義

“買方「」或「」購買者“ 在前言中已給予解釋。

“可登記證券「Registrable Securities」指的是（i）股份以及（ii）在股份進行任何股份拆分、股息或其他分配、資本再投資或類似事件後發行或可發行的任何證券；並且進一步規定，對於特定持有人，該持有人的股份應在以下情況中較早的發生時不再是註冊證券：（A）根據證券法案規定或144號規則出售（在這種情況下，只有持有人出售的證券應不再是註冊證券）；和（B）該股份符合144號規則下持有人無需公司符合規則144(c)或規則144(i)(2)規定的當前公開信息要求以及無成交量或銷售方式限制即可按照公司法律顧問的書面意見函變賣，該意見函應寄予、提交併且得到轉讓代理屆時合理接受。

“註冊聲明書” 指的是公司根據本協議規定向證券法下的所有板塊註冊的任何或所有註冊聲明（包括但不限於最初註冊聲明、任何新註冊聲明和任何剩餘註冊聲明）、對該註冊聲明的修訂和補充，包括後生效的修正案，所附展示和所有被引用或被視爲被引用在該註冊聲明中的材料。

“剩餘註冊聲明 。每個認購單位應支付的購買價格應等於每個企業單位在 第2(a)章 中的價格。.

“規則144「規則」指證券法規中由委員會頒佈的第144條規則，該規則可能不時經修訂，或者委員會今後頒佈的與該規則具有實質相同效力的任何類似規則或法規。

“規則172「」代表根據證券法由委員會頒佈的第172條規則，該規則可能不時進行修訂，或者委員會隨後頒佈具有基本相同效力的任何類似規則或法規。

“規則415「」代表着證券法規415號，該規則根據證券法案由委員會頒佈，該規則可能不時修訂，或者委員會今後採納對效力與該規則相同的任何類似規則或法規。

“條款424「Rule」指證監會根據證券法制定的第424號法規，該規定可能不時進行修訂，或者證監會日後實施的類似規定，具有類似效力的規定。

“第461條規定「」指的是證券法規定的第461條，該條款可能不時修改，或證監會日後制定的具有基本相同效力的類似規則或條例。

“SEC指南「」表示 (i)任何委員會工作人員提供的公開書面或口頭指導、意見、要求或要求；前提是，任何此類口頭指導、意見、要求或請求得到委員會的書面減少，以及(ii)《證券法》。

“股票持有人問卷” 表示作爲附件B所附表格形式的問卷，或者是其他合理可接受的問卷或信息形式 提供給公司，用於與本文件註冊聲明的準備工作有關。

“股份” 表示根據購買協議發行給購買方的普通股股份。

“交易日” 意味着 主要市場開放業務的一天。

“交易市場“意味着 在問題日期上，普通股被列入或在以下任一市場或交易所上市或報價交易：紐交所 美國，納斯達克資本市場，納斯達克全球市場，納斯達克全球精選市場，或紐約證券交易所（或任何 前述任何交易所的繼承者）。

2. 註冊.

(a) 截至報告期限前，公司應該準備並向委員會提交一份登記聲明，涵蓋了所有未在現有有效登記聲明中註冊的可登記證券的轉售，以便根據第415條規定進行持續發行或，如果第415條不適用於可登記證券的發售，通過其他分銷可登記證券的方式，由持有人可以合理指定的方式（“初始註冊聲明）。首次登記聲明應爲S-1表格，受 Section 2(d) 約束，應包含（除了根據委員會對該登記聲明進行審查後書面意見要求的情況）實質上按照所附“ 附錄 A （可以根據委員會提供的意見進行修改以應對任何評論）的分銷計劃”部分。儘管本 第2節在委員會通知公司所有註冊證券均因規則415的適用而無法作爲二級發行在同一註冊聲明上註冊時，公司同意及時（i）通知持有人並商業上合理努力根據委員會的要求修訂首次註冊聲明，或（ii）退出首次註冊聲明並提交新的註冊聲明（「首次註冊聲明」，“新的註冊聲明”），在任一情況下，覆蓋委員會允許註冊的最大數量的可註冊證券，形式爲S-1；但前提是，在提交此類修訂或新註冊聲明之前，公司有義務盡商業上合理的努力向委員會倡導所有可註冊證券應按照SEC指南進行註冊，包括但不限於《證券法規遵守和披露解讀問題612.09》。儘管本協議的任何其他規定，如果委員會或任何SEC指南規定特定註冊聲明上允許註冊的可註冊證券數量有限（並且儘管公司曾盡最大努力向委員會倡導註冊所有或更多的可註冊證券），除非持有人書面指示其可註冊證券，否則在這種註冊聲明上註冊的可註冊證券數量首先將通過未根據購買協議獲得的可註冊證券減少（無論是否根據註冊權益或其他方式）進行，其次通過基於這些持有人所持股票總數的比例按持有人平均分配給購買者的股票代表的可註冊證券進行，以滿足委員會的判定某些持有人必須先基於這些持有人持股數減少一定數量持有人的情況。在此減少的情況下，公司將在最少提前一個交易日通知持有人，並附計算其分配情況的通知。如果公司根據前述修訂首次註冊聲明或提交新的註冊聲明，公司將盡商業上合理的努力根據委員會或SEC指導提供給公司或註冊人士的任何指導，儘可能迅速提交一項或多項S-1形式或其他可用表格的註冊聲明，以登記那些未在首次註冊聲明或新註冊聲明上被註冊轉售的可註冊證券（“剩餘註冊報表”). 未經持有人事先書面同意，在任何註冊聲明中不得將任何持有人列爲「承銷商」。

(b) 公司應該盡商業上的合理努力，使每份註冊聲明儘快獲得委員會的生效，並且就首次註冊聲明或者新註冊聲明而言，最遲於生效截止日期前（包括根據《證券法》制定的第461條規定提交生效加速請求給委員會），並應盡商業上的合理努力，不斷保持每份註冊聲明在《證券法》下持續有效，直到以下時間爲止：（i）所有包含在該註冊聲明中的可登記證券已被持有人公開出售；或（ii）適用於該註冊聲明中包含的所有可登記證券可根據第144條規定無成交量或者銷售方式限制地由非關聯方出售的日期，且公司無需遵守根據第144條要求的當前公開信息要求（“有效期”。公司應該於紐約市時間下午4:00作爲一個交易日之有效性的註冊聲明。公司應當在同一交易日，即公司通過電話與委員會確認有效性時，通過電子郵件及時通知持有人有關注冊聲明的有效性或任何後續生效修正。該確認日期最初將是請求該註冊聲明生效的日期。在生效日期後的第一個交易日上午9：30之前，公司應根據規定提交一份最終招股說明書給委員會，並提供購買方用於與所涵蓋的證券的出售或其他處置相關的最終招股說明書副本。公司應在有效期結束前的任何時候，及時書面通知每位持有人，如果公司未滿足第172條規定的條件，結果導致持有人有必要在與可登記證券任何處置相關的情況下遞交招股說明書。

(c) 出售註冊證券的每位持有人同意在本協議簽訂之日起不超過五個交易日內向公司提供一份完整填寫的出售股東調查問卷。在本協議項下進行任何註冊的登記聲明的首次預期申報日期前至少提前10個交易日，公司將通知每位持有人公司需要從該持有人獲取的信息，以便納入登記聲明中，除了出售股東調查問卷中包含的信息外。如有，出售股東調查問卷應根據請求儘快完成並交付給公司，但在適用的預期申報日前不得晚於三個交易日。每位持有人進一步同意，在未向公司提供該信息並回應前述句子中描述的任何更多信息的合理請求時，將無權被列爲註冊聲明中的出售證券持有人或在任何時候使用招股說明書進行註冊證券的報價和轉售。每位持有人承認並同意出售股東調查問卷中的信息或本文中描述的進一步信息請求將由公司用於準備登記聲明，並同意將此類信息包含在登記聲明中（但僅受制於該持有人按照本文規定及時審閱登記聲明的權利）。 根據第2（c）條的規定，一旦在註冊聲明中減少了可登記證券，公司應按照第二節的規定提交一個或多個新的註冊聲明。 將由公司用於準備登記聲明的每位持有人填寫的出售股東問卷信息，並同意包括此信息在登記聲明中（但須遵守該持有人有權按本文要求及時審閱登記聲明的規定）。

(d) 公司承諾在第三表格S表格上註冊可登記的證券，一旦該表格可用，則立即進行註冊，前提是公司應維持註冊聲明的有效性，直到第三表格S已經通過委員會宣佈生效，涵蓋可登記的證券的註冊聲明。

3. 公司承諾

關於公司根據本規定的註冊義務，公司應：

(a) 在每份登記申報表的提交日期前不少於三個交易日，以及在提交任何相關招股書或其任何修訂版或補充資料的日期前不少於一個交易日（不包括十-K表格的年度報告，十-Q表格的季度報告和八-K表格的當期報告以及任何類似或後繼報告），（i）向每位持有人提供擬提交的這些登記申報表、招股書、修訂版或補充資料的拷貝，這些文件將由該持有人審查（應當承認並同意，如果持有人在上述三個交易日或一個交易日的期限內對上述文件沒有異議或評論，則該持有人將被視為同意並批准使用該等文件），並（ii）在登記申報表中將一位持有人確定為「承銷人」（如《證券法》所定義）的範圍內，盡商業上的合理努力使其高級管理人員和董事、顧問和獨立註冊會計師對該持有人的各自的法律顧問合理認為是必要的詢問做出回應，以開展符合《證券法》的合理調查。在誠實認為被持有人合理異議的情況下，公司不得提交任何審批的登記申報表或其修訂版或補充資料，前提是，該持有人在上述所述的三個交易日或一個交易日期限內以書面形式通知公司對此異議。

(b) (i)準備並與委員會一起提交必要的修訂（包括後生效修訂）和補充文件，以及用於相關聯的招股說明書的每個註冊聲明，以保持該註冊聲明在有效期內對適用的可註冊證券持續有效，並準備並向委員會提交額外的註冊聲明，以便根據證券法註冊所有可註冊證券；(ii)導致相關的招股說明書通過任何必須的招股說明書補充進行修訂或補充（受本協議條款約束），然後按照424條規定進行提交；(iii)儘可能迅速地回應委員會對每個註冊聲明或任何修訂意見收到的評論，並儘可能迅速地向持有人提供所有關於這些註冊聲明與委員會之間往來的真實和完整的信函副本有關該註冊聲明，該信函涉及持有人作爲「銷售股東」但不涉及可能導致向持有人披露有關公司的重要且非公開信息的任何評論（除非此類持有人同意接收此類重要且非公開信息）；(iv)遵守證券法和交易法的規定，以讓註冊聲明涵蓋的所有可註冊證券處置直至所有這些可註冊證券已按照持有人在這些註冊聲明中或招股說明書中所修訂或補充的意向處置方法進行處置的時間爲止（受本協議條款約束）；但是，每個購買者應對將招股說明書交付給該購買者向其出售任何可註冊證券的人負責（包括根據證券法第172條的規定），在根據證券法所需的範圍內處置可註冊證券，每個購買者同意依照註冊聲明中描述的「分銷計劃」處置可註冊證券，同時也要符合適用的聯邦和州證券法。就根據本協議（包括根據本第3（b）條）要求提交的註冊聲明所需的修訂和補充而言，這是由於公司依據交易法提交10-K表格、10-Q表格或8-K表格或任何類似的報告而要求的，公司應該將這些報告參照納入這樣的註冊聲明中，如果適用，或者應當在公司要求修訂或補充這樣的註冊聲明的交易法報告提交當天向委員會提交這些修訂或補充。

(c) 儘快通知可登記證券的持有人進行出售（該通知應在符合此處第(iii)至(vi)款規定的情況下發出，附有暫停使用招股書的指示，直至必要的更改已經完成，前提是公司應省略涉及公司和/或其任何子公司的任何實質性、非公開信息），並在合理可行的情況下（在(i)(A)情況下，不得少於此類申報前一交易日）儘快（如有任何持有人的要求）提供此通知的書面確認，最晚在第二個交易日之後的一個交易日內提供：（i)(A）擬申報招股書或招股書補充資料或向註冊聲明文件提出後生效修正案時；（B）當委員會通知公司是否將對該註冊聲明進行「審核」，以及當委員會書面對任何註冊聲明作出評論時（在這種情況下，公司應向每位持有人提供所有與持有人作爲「出售股東」或「分銷計劃」相關的評論的真實和完整副本及所有書面答覆，但不包括公司認爲可能構成實質性且非公開信息的信息）；以及（C）就每個註冊聲明或任何後生效修正案的情況下，整個註冊聲明何時生效；（ii）有關委員會或任何其他聯邦或州政府機構要求對註冊聲明或招股書進行修訂或補充，或提供有關持有人的「出售股東」或「分銷計劃」的附加信息的通知；（iii）有關委員會或任何其他聯邦或州政府機構發佈停止訂單以暫停覆蓋任何或所有可登記證券的註冊聲明的生效，或就此目的發起任何程序的通知；（iv）公司收到有關任何可登記證券在任何司法管轄區出售的資格或免予資格掛起或暫停的通知，或有關發起或威脅發起爲此目的的程序的通知；（v）包含或通過引用的財務報表在註冊聲明中不適於被納入或引用或者在這種情況下，註冊聲明中所作聲明或招股書或通過引用納入或視爲納入其中的任何文件存在任何事件或經過時間使得這些聲明不包含任何並不真實陳述任何該包含的重要事實或遺漏對其提出的存在和必要的任何重要事實以使其陳述不會存在任何未經披露的重要事實或未來應使其「招股書」或其他文件不會存在任何對其中所做陳述（在任何招股書、招股說明書或其補充材料的情況下，根據進行了這些陳述的情況）具有欺騙性，並且（vi）有關公司的任何懸而未決或存留的公司發展事件，根據法律顧問的建議，公司的董事會合理地相信可能具有重大影響並會要求公司在註冊聲明中披露此類重要信息，公司對保持機密的公司有充分商業目的的信息，公司董事會以法律顧問建議爲依據，不披露該等信息「招股書」會導致該註冊聲明不符合適用的披露要求，前提是任何和所有此類信息直到該信息變得公開爲止，應對每位持有人保持保密，除非法律要求持有人披露；並且並且，儘管每位持有人同意保持此類信息的機密性，每位持有人不承認任何此類信息屬於重要的、非公開的信息。

(d) 採取商業上合理的努力，以避免發佈或在發佈後獲取撤銷以下任何一項：(i) 停止或暫停註冊聲明生效的命令， 或 (ii) 在儘快情況下，任何司法管轄區內銷售可註冊證券的資格暫停（或免於資格要求）。

(e) 如果被持有人要求，應免費向該持有人提供基本註冊聲明和各項修訂，包括基本報表和附表，以及所有根據請求而納入或視爲納入其中的文檔，以及所有附件，根據請求而納入或視爲納入的，包括之前提交或納入的文檔，在向委員會提交此類文件後迅速提供；提供，公司對於根據此款規定提供的任何文件沒有義務提供委員會EDGAR系統上可獲得的文件。

(f) 在持有人轉售任何可註冊證券之前，應盡商業上的合理努力以在美國境內相關司法管轄區內，根據持有人書面合理要求註冊、合格或配合出售持有人的登記或合格（或豁免登記或合格）可註冊證券的復售（或，在合格情況下，持有人可根據證券法或藍天法規定將這些可註冊證券復售）；在有效期內保持每次登記或合格（或免除）有效，並採取一切合理必要的行動或措施，以促使各註冊聲明涵蓋的可註冊證券在這些司法管轄區內交易；但前提是，公司不必在任何未取得資格的司法管轄區普遍取得資格，使公司受制於任何未受約束的司法管轄區的重大稅收，或在任何未受管轄區域提交一般性訴訟代理的同意。

與該持有人合作，以促進及時準備和交付證券或簿記入賬聲明，代表根據註冊申請而交付給受讓人的可註冊證券，這些證券或聲明應在合同和法律允許的範圍內，不受任何限制性標籤的影響，並使可註冊證券在任何持有人合理要求的面額和註冊名字下登記。

(h) Following the occurrence of any event contemplated by Section 3(c), as promptly as reasonably practicable (taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event), prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. If the Company notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(c) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then the Holders shall suspend use of such Prospectus. The Company will use its commercially reasonable efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this Section 3(h) to suspend the availability of a Registration Statement and Prospectus in accordance with the time periods set forth in Section 6(d), which may be extended only in accordance with Section 6(f). For the avoidance of doubt, the Company’s rights under this Section 3(h) shall include suspensions of availability arising from the filing of a post-effective amendment to a Registration Statement to update the Prospectus therein to include the information contained in the Company’s Annual Report on Form 10-K, which suspensions may extend for the amount of time reasonably required to respond to any comments of the staff of the Commission on such amendment and which, for the avoidance of doubt, shall be in accordance with the time periods set forth in Section 6(d), which may be extended only in accordance with Section 6(f).

(i) The Company may require each selling Holder to furnish to the Company a certified statement as to (i) the number of shares of Common Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any Financial Industry Regulatory Authority, Inc. (“FINRA”) affiliations, (iii) any natural persons who have the power to vote or dispose of the Common Stock and (iv) any other information as may be requested by the Commission, FINRA or any state securities commission.

(j) The Company shall cooperate with any registered broker through which a Holder proposes to resell its Registrable Securities in effecting a filing with FINRA pursuant to FINRA Rule 5110 as requested by any such Holder and the Company shall pay the filing fee required for the first such filing within two Business Days of the request therefor.

(k) If at any time the Commission takes the position that the offering of some or all of the Registrable Securities in a Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act or requires any Holder to be named as an “underwriter,” the Company shall use commercially reasonable efforts to persuade the Commission that the offering contemplated by such Registration Statement is a valid secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Holders is an “underwriter.”

4. Registration Expenses. All fees and expenses incident to the Company’s performance of or compliance with its obligations under this Agreement (excluding any underwriting discounts and selling commissions and all legal fees and expenses of legal counsel for any Holder) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses of the Company’s counsel and independent registered public accountants (A) with respect to filings required to be made with any Trading Market on which the Common Stock are then listed for trading, (B) with respect to compliance with applicable state securities or blue sky laws (including, without limitation, fees and disbursements of counsel for the Company in connection with blue sky qualifications or exemptions of the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under the laws of such jurisdictions as requested by the Holders) and (C) if not previously paid by the Company in connection with Section 3(j) above, with respect to any filing that may be required to be made by any broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant to the FINRA Rule 5110, so long as the broker is receiving no more than a customary brokerage commission in connection with such sale), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing of prospectuses is reasonably requested by the Holders of a majority of the Registrable Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) fees, expenses and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with the registrations and consummation of the transactions contemplated by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for any underwriting, broker or similar fees or commissions of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders.

5. Indemnification.

(a) 公司的賠償。這個 無論本協議是否終止，公司均應賠償、捍衛每位持有人和每位持有人並使其免受損害 高級職員、董事、代理人、合夥人、成員、經理、股東、關聯公司、投資顧問和員工， 控制任何此類持有人的每一個人（根據《證券法》第 15 條或《交易法》第 20 條的定義）以及 每個此類控股公司的高級職員、董事、合夥人、成員、經理、股東、代理人、投資顧問和員工 在適用法律允許的最大範圍內，個人對任何和所有損失、索賠、損害賠償、責任、費用（包括， 但不限於合理的準備和調查費用（以及合理的律師費）、費用和支出 （總的來說，”損失”)，由於 (i) 任何不真實或所謂的不真實而產生或基於的 任何註冊聲明、任何招股說明書或任何形式的招股說明書或任何修正案中包含的重大事實陳述，或 對其進行補充或在任何初步招股說明書中，或因任何遺漏或涉嫌遺漏說明材料而產生或與之有關的 其中需要陳述的事實或在其中作出陳述所必需的事實（對於任何招股說明書或招股說明書形式而言）或 對其進行補充，根據其發生的情況）不具有誤導性，或（ii）任何違規行爲或涉嫌的違規行爲 由公司或其代理人執行《證券法》、《交易法》或任何州證券法或其下的任何規則或法規， 與履行本協議規定的義務或要求公司採取的任何相關行動或不作爲有關 進行任何登記，但僅限於 (A) 此類不真實陳述、所謂的不真實陳述、遺漏 或所謂的遺漏完全基於該持有人以書面形式明確向公司提供的有關該持有人的信息 供其使用，或僅限於此類信息與該持有人或該持有人提議的分配方法有關 可註冊證券，並經該持有人書面審查和批准，明確用於註冊聲明，例如 招股說明書或此類形式的招股說明書，或其任何修正案或補充文件（據了解，每位持有人均已批准） 附件 一個 爲此目的），（B）如果發生中規定的類型的事件 第 3 (c) (iii)-(vi) 節， 與持有人在公司書面通知過時或有缺陷的招股說明書後使用該持有人有關 招股說明書已過時或存在缺陷，在該持有人收到建議之前，已考慮和定義如下 第 6 (d) 節 在下文中，僅限於在收到通知後，導致此類損失的錯誤陳述或遺漏是 更正或 (C) 在任何此類損失因買方（或任何其他受賠人）的失敗而導致的範圍內 如果需要，根據第 172 條，發送或提供招股說明書或補充文件（當時經過修訂或補充）的副本 《證券法》（或任何後續規則）主張不真實陳述或涉嫌不真實陳述的人士 或在書面確認向該人出售可註冊證券時或之前的遺漏或涉嫌遺漏（如果是） 此類招股說明書或補充文件中的陳述或遺漏已得到更正。公司應立即將該機構的情況通知持有人， 威脅或主張因本協議所設想的交易而產生或與之相關的任何程序， 公司知道了。無論受保人或代表受保人進行任何調查，此類賠償均應保持完全的效力和效力 派對（定義見 第 5 (c) 節）並應在持有人轉讓可註冊證券後繼續有效。

(b) 賠償 由持有者提供。每位持有人應單獨而不是共同賠償公司、其董事、高級職員、代理人並使其免受損害 和員工，每個控制公司的人（在《證券法》第15條和交易所第20條的定義範圍內） 法案），以及這些控制人的董事、高級職員、代理人或員工，在適用法律允許的最大範圍內， 源於或完全基於任何不真實或涉嫌不真實的材料陳述而產生、引起或完全基於的所有損失 任何註冊聲明、任何招股說明書或任何形式的招股說明書中或其任何修正或補充中包含的事實，或 在任何初步招股說明書中，或因任何遺漏或涉嫌遺漏需要陳述的重大事實而產生或與之有關的 其中或在其中發表聲明所必需的（如果是任何招股說明書或其任何形式的招股說明書或補充文件）， (根據作出這些陳述的情況) 不具有誤導性 (i) 僅限於此類不真實的陳述或遺漏是 僅基於該持有人以書面形式向公司提供的有關該持有人明確供其使用的信息，或 (ii) 只要此類信息與該持有人或該持有人提議的可註冊證券分配方法有關 並經該持有人以書面形式審查和批准，明確用於註冊聲明（據了解，持有人 已批准 附件 A 此處（爲此目的）、此類招股說明書或此類形式的招股說明書或其任何修正案或補充文件中 或 (iii) 如果發生中規定的類型的事件 第 3 (c) (iii)-(vi) 節，在與之相關的範圍內 在公司以書面形式通知該持有人招股說明書已過期或有缺陷後，該持有人使用過時或有缺陷的招股說明書 已過期或有缺陷，且在該持有人收到建議之前 第 6 (d) 節。在任何情況下都不得 本協議下任何出售持有人的責任金額大於該持有人獲得的淨收益的美元金額 出售引起此類賠償義務的可註冊證券。

(c) 進行賠償程序如果針對有權獲得此處賠償的任何人提出索賠或提起訴訟（「受保護方」）， 受保護方應立即書面通知尋求賠償的人（「賠償方」），賠償方有權承擔辯護責任，包括聘請受保護方合理滿意的律師，並支付在辯護過程中發生的所有合理費用、開支和支出；但任何受保護方的未能發出此類通知並不免除賠償方根據本協議的義務或責任，除非（僅限於）經有管轄權的法院最終裁定（該裁定不得上訴或進一步審查），未能發出此類通知將對賠償方產生重大不利影響。受保護方通知被索賠方有權獲得賠償的任何人提出索賠或提起訴訟（「受保護方」）， 受保護方應立即書面通知尋求賠償的人（「賠償方」），賠償方有權承擔辯護責任，包括聘請受保護方合理滿意的律師，並支付在辯護過程中發生的所有合理費用、開支和支出；但任何受保護方的未能發出此類通知並不免除賠償方根據本協議的義務或責任，除非（僅限於）經有管轄權的法院最終裁定（該裁定不得上訴或進一步審查），未能發出此類通知將對賠償方產生重大不利影響。賠償方若對任何有權獲得賠償的人提起訴訟或主張索賠（「受賠方」）， 受賠方應即刻以書面形式通知尋求賠償的人（「賠付方」），賠付方有權承擔此次辯護責任，包括負責聘用對受賠方合理滿意的律師，並支付因辯護而發生的一切合理費用、開支和支出；不過，任何受賠方未能發出此類通知並不會減輕賠付方根據本協議承擔的義務或責任，除非（且僅在）經具有管轄權的法院最終裁定（此裁定不受上訴或進一步審查）未能發出此類通知將對賠付方造成實質性和嚴重的不利影響。

受賠償方有權僱用單獨的律師參與辯護，但這些律師的費用、費用和支出應由受賠償方自行承擔，除非：（1）賠償方已書面同意支付這些費用和金額； （2）賠償方未能及時承擔該案件的辯護並聘請受賠償方合理認可的律師；或（3）任何此類訴訟（包括任何被傳喚的當事方）的命名當事方中包括受賠償方和賠償方，受賠償方已經律師建議如果同一律師代表受賠償方和賠償方會存在利益衝突（在這種情況下，如果受賠償方以書面形式通知賠償方選擇僱用獨立律師的費用由賠償方承擔，賠償方不得有權承擔辯護責任，這些律師費用應由賠償方承擔）；但賠償方在任何時候不對所有受賠償方的律師費用、費用和支出負責超過一家獨立律師事務所。 未經其書面同意，賠償方不應承擔未經其書面同意的任何此類訴訟的任何和解，此同意不得未經合理理由拒絕、延遲或附加條件。 未經受賠償方的事先書面同意，任何賠償方不得解決任何受賠償方是一方的待處理訴訟，除非該和解包括無條件放棄有關此類訴訟主題的所有索賠。

根據本協議的條款，所有費用， 受賠方的支出和支出（包括合理的費用、開支和支出，以相關費用爲限） 正在調查或準備以與此不相牴觸的方式爲此類訴訟進行辯護 第 5 部分) 應支付給 受賠方在向賠償方發出書面通知後的20個交易日內，視情況而定；前提是受補償方 當事方應立即向賠償方償還適用於此類行動的那部分費用、開支和支出 最終經司法裁定，該受賠方無權獲得本協議規定的賠償。未能交付 在任何此類訴訟開始後的合理時間內向賠償方發出的書面通知不應減輕該賠償方的責任 根據本條款對受賠方承擔任何責任的一方 第 5 部分，除非賠償方是實質性的 而且它爲這種行動辯護的能力受到不利影響.

(d) 貢獻如果索賠獲得賠償資格 根據 第5(a)節或。5(b) 對於受保護方而言，如果索賠賠償不可用或不足，除非明確規定， 爲了使受保護方免受任何損失，其他各方應根據相應比例共同承擔受保護方因此損失而支付或應支付的金額，以反映相關方在導致這些損失的行動、聲明或疏忽中的相對過錯，以及其他相關的公平考量。由於導致受保護方和受保護方相對過錯的程度應根據多種因素確定，其中包括在疑問中是否採取了任何行動，包括對任何事實的不真實或被指稱不真實的陳述或對任何事實的遺漏或被指稱遺漏，這些行動是否由或與信息提供方有關，受保護方或受保護方的相關意圖、知識、信息獲取途徑以及糾正或預防這種行動、聲明或遺漏的機會。根據任何損失而支付或應支付的金額將被視爲包括，受限於本協議中規定的限制，任何合理的律師費用或其他合理的費用、開支或開支，由該方在與任何程序相關聯時發生，且在本協議中提供的補償對於此費用、開支或開支（如果給該方補償的話），如果根據本 第5節 對其條款的規定，將根據其中的條款向該方提供的賠償。

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), (A) no Holder shall be required to contribute, in the aggregate with any other amounts payable by it under this Section 5, any amount in excess of the net proceeds actually received by such Holder from the sale of the Registrable Securities giving rise to such contribution obligation and (B) no contribution will be made under circumstances where the maker of such contribution would not have been required to indemnify the Indemnified Party under the fault standards set forth in this Section 5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

The indemnity and contribution agreements contained in this Section 5 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of the indemnification provisions under the Purchase Agreement.

6. Miscellaneous.

(a) Remedies. In the event of a breach by the Company or by a Holder of any of their obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to seek specific performance of its rights under this Agreement, without the requirement of posting a bond. The Company and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate.

(b) No Piggyback on Registrations; Prohibition on Filing Other Registration Statements. Except for any such rights that have been waived, neither the Company nor any of its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in a Registration Statement other than the Registrable Securities and the Company shall not prior to the Effective Date enter into any agreement providing any such right to any of its security holders. For the avoidance of doubt, the provisions of this Agreement shall not impact the terms of any lock-up agreement entered into by Purchaser for the benefit of the Company on or about the date hereof.

(c) Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to the Registration Statement and shall sell the Registrable Securities only in accordance with a method of distribution described in the Registration Statement, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

(d) Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from the Company of the occurrence of any event of the kind described in Section 3(c)(iii)-(vi), such Holder will forthwith discontinue disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company will use its commercially reasonable efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. Notwithstanding anything herein to the contrary, no Holder shall be required to discontinue disposition of Registrable Securities under a Registration Statement by virtue of the delivery by the Company of a notice of the occurrence of any event of the kind described in Section 3(c)(vi) on more than two occasions or for more than 90 total calendar days, in each case during any twelve-month period, or for more than 45 calendar days during any 90-day period (an “Allowed Suspension”).

(e) No Inconsistent Agreements. Neither the Company nor any of its subsidiaries has entered, as of the date hereof, nor shall the Company or any of its subsidiaries, on or after the date hereof, enter into any agreement with respect to its securities, that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof.

(f) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, or waived unless the same shall be in writing and signed by the Company and Holders holding no less than a majority of the then outstanding Registrable Securities, provided that (i) any party may give a waiver as to itself and (ii) any proposed amendment that would, by its terms, have a disproportionate and materially adverse effect on any Holder shall require the consent of such Holder(s). Notwithstanding the foregoing, (1) a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of all of the Registrable Securities to which such waiver or consent relates and (2) none of the definitions of Filing Deadline, Effectiveness Deadline or Effectiveness Period, Section 3(c), Section 5, Section 6(d), or the provisions of this sentence, may be amended, modified, or supplemented except with the consent of each Holder.

(g) Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as set forth in the Purchase Agreement.

(h) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties and shall inure to the benefit of each Holder. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. The Company may not assign its rights (except by merger or in connection with another entity acquiring all or substantially all of the Company’s assets) or obligations hereunder without the prior written consent of all the Holders of the then outstanding Registrable Securities. Each Holder may assign its respective rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement; provided in each case that (i) the Holder agrees in writing with the transferee or assignee to assign such rights and related obligations under this Agreement, and for the transferee or assignee to assume such obligations, and a copy of such agreement is furnished to the Company within a reasonable time after such assignment, (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being transferred or assigned, (iii) at or before the time the Company received the written notice contemplated by clause (ii) of this sentence, the transferee or assignee agrees in writing with the Company to be bound by all of the provisions contained herein and (iv) the transferee is an “accredited investor,” as that term is defined in Rule 501 of Regulation D.

(i) Execution and Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute one and the same Agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

(j) Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in accordance with the provisions of the Purchase Agreement.

(k) Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

(l) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their good faith reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

(m) Headings. The headings in this Agreement are for convenience only and shall not limit or otherwise affect the meaning hereof.

(n) Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under this Agreement are several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser hereunder. The decision of each Purchaser to purchase Shares pursuant to the Transaction Documents has been made by such Purchaser independently of any other Purchaser and independently of any information, materials, statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company or any Subsidiary which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser, and no Purchaser and any of its agents or employees shall have any liability to any other Purchaser (or any other Person) relating to or arising from any such information, materials, statement or opinions. Nothing contained herein or in any Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group (including, without limitation, a “group” within the meaning of Section 13(d)(3) of the Exchange Act) with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the securities or enforcing its rights under the Transaction Documents. Each Purchaser shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any Proceeding for such purpose. The Company acknowledges that each of the Purchasers has been provided with the same Registration Rights Agreement for the purpose of closing a transaction with multiple Purchasers and not because it was required or requested to do so by any Purchaser. It is expressly understood that each provision contained in this Agreement is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively and not between and among the Purchasers.

(o) Current Public Information. With a view to making available to the Holders the benefits of Rule 144 (or its successor rule) and any other rule or regulation of the Commission that may at any time permit the Holders to sell shares of Common Stock to the public without registration, for so long as the Shares remain outstanding, the Company covenants and agrees to use commercially reasonable efforts to: (i) make and keep adequate current public information available, as those terms are understood and defined in Rule 144, until such date on which the Holders no longer hold any Registrable Securities; and (ii) file with the Commission in a timely manner all reports and other documents required of the Company under the Exchange Act.

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IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above.

IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above.

ANNEX A

PLAN OF DISTRIBUTION¹

We are registering resales of the shares of Class A common stock of PSQ Holdings, Inc., par value of $0.0001 per share, or the Common Stock, which we refer to herein as “Resale Shares,” issued to the selling stockholders to permit the sale, transfer or other disposition of the Resale Shares by the selling stockholders or their donees, pledgees, transferees or other successors-in-interest from time to time after the date of this prospectus. We will not receive any of the proceeds from the sale by the selling stockholders of the Resale Shares. We will, or will procure to, bear all fees and expenses incident to our obligation to register the Resale Shares.

The selling stockholders may sell all or a portion of the Resale Shares beneficially owned by them and offered hereby from time to time, directly or through one or more underwriters, broker-dealers or agents. If the Resale Shares are sold through underwriters or broker-dealers, the selling stockholders will be responsible for underwriting discounts (it being understood that the selling stockholders shall not be deemed to be underwriters solely as a result of their participation in this offering) or commissions or agent’s commissions. The Resale Shares may be sold on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale, in the over-the-counter market or in transactions otherwise than on these exchanges or systems or in the over-the-counter market and in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time of sale, or at negotiated prices. These sales may be effected in transactions, which may involve crosses or block transactions. The selling stockholders may use any one or more of the following methods when selling Resale Shares:

The selling stockholders also may resell all or a portion of the Resale Shares in open market transactions in reliance upon Rule 144 under the Securities Act, as amended, or the Securities Act, as permitted by that rule, or Section 4(a)(1) under the Securities Act, if available, rather than under this prospectus, provided that they meet the criteria and conform to the requirements of those provisions.

Broker-dealers engaged by the selling stockholders may arrange for other broker-dealers to participate in sales. If the selling stockholders effect such transactions by selling Resale Shares to or through underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions from the selling stockholders or commissions from purchasers of the Resale Shares for whom they may act as agent or to whom they may sell as principal. Such commissions will be in amounts to be negotiated, but, except as set forth in a supplement to this prospectus, in the case of an agency transaction will not be in excess of a customary brokerage commission in compliance with FINRA Rule 2121; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2121.01.

In connection with sales of the Resale Shares or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Resale Shares in the course of hedging in positions they assume. The selling stockholders may also sell Resale Shares short and if such short sale takes place after the date that this Registration Statement is declared effective by the Securities and Exchange Commission, or the SEC, the selling stockholders may deliver Resale Shares covered by this prospectus to close out short positions and to return borrowed Resale Shares in connection with such short sales. The selling stockholders may also loan or pledge Resale Shares to broker-dealers that in turn may sell such Resale Shares, to the extent permitted by applicable law. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). Notwithstanding the foregoing, the selling stockholders have been advised that they may not use Resale Shares the resale of which has been registered on this registration statement to cover short sales of our Common Stock made prior to the date the registration statement, of which this prospectus forms a part, has been declared effective by the SEC.

The selling stockholders may, from time to time, pledge or grant a security interest in some or all of the Resale Shares owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Resale Shares from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act of 1933, as amended, or the Securities Act, amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer and donate the Resale Shares in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

The selling stockholders and any broker-dealer or agents participating in the distribution of the Resale Shares may be deemed to be “underwriters” within the meaning of Section 2(11) of the Securities Act in connection with such sales. In such event, any commissions paid, or any discounts or concessions allowed to, any such broker-dealer or agent and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Selling Stockholders who are “underwriters” within the meaning of Section 2(11) of the Securities Act will be subject to the applicable prospectus delivery requirements of the Securities Act including Rule 172 thereunder and may be subject to certain statutory liabilities of, including but not limited to, Sections 11, 12 and 17 of the Securities Act and Rule 10b-5 under the Securities Exchange Act of 1934, as amended, or the Exchange Act.

Each selling stockholder has informed the Company that it is not a registered broker-dealer and does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the Resale Shares. Upon the Company being notified in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of Common Stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, a supplement to this prospectus will be filed, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the name of each such selling stockholder and of the participating broker-dealer(s), (ii) the number of Resale Shares involved, (iii) the price at which such the Resale Shares were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out in this prospectus, and (vi) other facts material to the transaction. In no event shall any broker-dealer receive fees, commissions and markups, which, in the aggregate, would exceed eight percent (8.0%).

Under the securities laws of some U.S. states, the Resale Shares may be sold in such states only through registered or licensed brokers or dealers. In addition, in some U.S. states the Resale Shares may not be sold unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.

There can be no assurance that any selling stockholder will sell any or all of the Resale Shares registered pursuant to the shelf registration statement, of which this prospectus forms a part.

Each selling stockholder and any other person participating in such distribution will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the Exchange Act, which may limit the timing of purchases and sales of any of the Resale Shares by the selling stockholder and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of the Resale Shares to engage in market-making activities with respect to the Resale Shares. All of the foregoing may affect the marketability of the Resale Shares and the ability of any person or entity to engage in market-making activities with respect to the Resale Shares.

We will pay all expenses of the registration of the Resale Shares pursuant to the registration rights agreement, including, without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities or “blue sky” laws; provided, however, that each selling stockholder will pay all underwriting discounts and selling commissions, if any and any related legal expenses incurred by it. We will indemnify the selling stockholders against certain liabilities, including some liabilities under the Securities Act, in accordance with the registration rights agreement, or the selling stockholders will be entitled to contribution. We may be indemnified by the selling stockholders against certain civil liabilities set forth in the registration rights agreement, including liabilities under the Securities Act, that may arise from any written information furnished to us by the selling stockholders specifically for use in this prospectus, in accordance with the related registration rights agreements, or we may be entitled to contribution.

ANNEX B

SELLING STOCKHOLDER NOTICE AND QUESTIONNAIRE

The undersigned holder of shares of the Class A common stock, par value $0.0001 per share, of PSQ Holdings, Inc. (the “Company”) issued pursuant to a certain Securities Purchase Agreement by and among the Company and the Purchasers named therein, dated as of October 22, 2024 (the “Agreement”), understands that the Company intends to file with the Securities and Exchange Commission a registration statement on Form S-1, or if available Form S-3 (the “Resale Registration Statement”) for the registration and the resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of the Agreement. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Agreement.

In order to sell or otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a holder of Registrable Securities generally will be required to be named as a selling stockholder in the related prospectus or a supplement thereto (as so supplemented, the “Prospectus”), deliver the Prospectus to purchasers of Registrable Securities (including pursuant to Rule 172 under the Securities Act) and be bound by the provisions of the Agreement (including certain indemnification provisions, as described below). Holders must complete and deliver this Notice and Questionnaire in order to be named as selling stockholders in the Prospectus. Holders of Registrable Securities who do not complete, execute and return this Notice and Questionnaire within five Trading Days following the date of the Agreement (1) will not be named as selling stockholders in the Resale Registration Statement or the Prospectus and (2) may not use the Prospectus for resales of Registrable Securities.

Certain legal consequences arise from being named as a selling stockholder in the Resale Registration Statement and the Prospectus. Holders of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not named as a selling stockholder in the Resale Registration Statement and the Prospectus.

NOTICE

The undersigned holder (the “Selling Stockholder”) of Registrable Securities hereby gives notice to the Company of its intention to sell or otherwise dispose of Registrable Securities owned by it and listed below in Item (3), unless otherwise specified in Item (3), pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire, understands and agrees that it will be bound by the terms and conditions of this Notice and Questionnaire and the Agreement.

The undersigned hereby provides the following information to the Company and represents and warrants that such information is accurate and complete:

QUESTIONNAIRE

Telephone:

Fax:

Contact Person:

E-mail address of Contact Person:

Yes ☐ No ☐

Yes ☐ No ☐

Note: If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

Yes ☐ No ☐

Note: If yes, provide a narrative explanation below:

Yes ☐ No ☐

Note: If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

Except as set forth below in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company other than the Registrable Securities listed above in Item 3.

Type and amount of other securities beneficially owned:

Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.

State any exceptions here:

The undersigned has reviewed the form of Plan of Distribution attached as Annex A to the Registration Rights Agreement, and hereby confirms that, except as set forth below, the information contained therein regarding the undersigned and its plan of distribution is correct and complete.

State any exceptions here:

***********

The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof and prior to the effective date of any applicable Resale Registration Statement. All notices hereunder and pursuant to the Agreement shall be made in writing, by hand delivery, confirmed or facsimile transmission, first-class mail or air courier guaranteeing overnight delivery at the address set forth below. In the absence of any such notification, the Company shall be entitled to continue to rely on the accuracy of the information in this Notice and Questionnaire.

By signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items (1) through (7) above and the inclusion of such information in the Resale Registration Statement and the Prospectus. The undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of any such Registration Statement and the Prospectus.

By signing below, the undersigned acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act and the rules and regulations thereunder, particularly Regulation M in connection with any offering of Registrable Securities pursuant to the Resale Registration Statement. The undersigned also acknowledges that it understands that the answers to this Questionnaire are furnished for use in connection with Registration Statements filed pursuant to the Registration Rights Agreement and any amendments or supplements thereto filed with the Commission pursuant to the Securities Act.

The undersigned hereby acknowledges and is advised of the following Question 239.10 of the Securities Act Rules Compliance and Disclosure Interpretations regarding short selling:

“An Issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet effective. One of the selling stockholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not be made before the registration statement become effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section 5 if the shares were effectively sold prior to the effective date.”

By returning this Questionnaire, the undersigned will be deemed to be aware of the foregoing interpretation.

I confirm that, to the best of my knowledge and belief, the foregoing statements (including without limitation the answers to this Questionnaire) are correct.

IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its duly authorized agent.

Dated:

PLEASE EMAIL A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO:

Jim Giudice at Jim.Giudice@publicsq.com