EX-10.1




 Exhibit 10.1 

Execution Version 

LOCK-UP AGREEMENT 

THIS LOCK-UP AGREEMENT (this “Agreement”) is made and entered into as of
November 13, 2022 by and among (i) TLG Acquisition One Corp., a Delaware corporation (together with its successors, “Parent”), (ii) Electriq Power, Inc., a Delaware corporation (the “Company”), and
(iii) the undersigned Persons (each, a “Holder”). 
 WHEREAS, Parent, Eagle Merger Corp., a Delaware corporation and a
direct wholly-owned subsidiary of Parent (“Merger Sub”), and the Company contemporaneously entered into that certain Merger Agreement, as of the date first set forth above (as amended from time to time in accordance with the terms
thereof, the “Merger Agreement”), pursuant to which, among other matters, upon the consummation of the transactions contemplated thereby (the “Closing”), Merger Sub will merge with and into the Company, with the
Company continuing as the surviving corporation and a wholly-owned subsidiary of Parent (the “Merger”), and as a result of which all of the issued and outstanding capital stock of the Company immediately prior to the Closing shall
no longer be outstanding and shall automatically be cancelled and shall cease to exist, in exchange for the right to receive newly issued Parent Class A Common Stock, all upon the terms and subject to the conditions set forth in the Merger
Agreement and in accordance with the applicable provisions of the DGCL; 
 WHEREAS, as of the date hereof, each Holder is a holder of equity
securities of the Company in such amounts and classes or series as set forth underneath Holder’s name on the signature page hereto; and 

WHEREAS, pursuant to the Merger Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties desire to enter into this Agreement, pursuant to which any shares of Parent Class A Common Stock to be received by a Holder in connection with the Merger or the transactions contemplated thereby (all such securities,
together with any securities paid as dividends or distributions with respect to such securities or into which such securities are exchanged or converted, the “Restricted Securities”) shall become subject to limitations on
disposition as set forth herein. 
 NOW, THEREFORE, in consideration of the premises set forth above, which are incorporated in this
Agreement as if fully set forth below, and intending to be legally bound hereby, the parties hereby agree as follows: 

1.    Definitions. 

(a)    Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the
Merger Agreement. 
 (b)    “Permitted Transfer” means a Transfer made: (i) in the case of an
individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family or an Affiliate of such individual, or to a charitable organization;
(iii) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) if the Holder is not a natural
person, by pro rata distribution by the Holder to its members, current and former general and limited partners, or stockholders pursuant to the Holder’s organizational documents or related agreements as in effect from time to time, provided
that a transfer pursuant to this subsection (v) shall be permitted only if, as a precondition to such transfer, the transferee agrees in a written document, reasonably satisfactory in form and substance to Parent, to be bound by all of the
terms of this Agreement; (vi) by virtue of applicable law or the Holder’s organizational documents upon liquidation or dissolution of Holder; or (vii) in the event of Parent’s liquidation, merger, capital stock


  
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exchange or other similar transaction which results in all of Parent’s stockholders having the right to exchange their shares of Parent Class A Common Stock for cash, securities or
other property subsequent to the Closing Date. 
 (c)    “Liquidity Event” means a liquidation, merger,
capital stock exchange, reorganization or other similar transaction that results in all of Parent’s stockholders having the right to exchange their shares of Parent Common Stock for cash, securities or other property. 

(d)    “Trading Day” means a day on which the New York Stock Exchange is open for trading. 

(e)    “Transfer” means (i) the sale of, offer to sell, contract or agreement to sell, hypothecate,
pledge, hedge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent
position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the SEC promulgated thereunder, with respect to, any security, (ii) the entry into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) public announcement of any intention to effect any
transaction, including the filing of a registration statement, specified in clause (i) or (ii). 

(f)    “VWAP” means, as of any Trading Day, the volume weighted average price per share of Parent
Class A Common Stock, or any successor security thereto on the New York Stock Exchange (as reported by Bloomberg L.P. (or its successor) or if not available, by Dow Jones & Company Inc.). 

2.    Lock-up Provisions. Each Holder hereby agrees not to Transfer any of
the Restricted Securities from and after the Closing and until the earlier of (i) the six (6) month anniversary of the Closing Date and (ii) the date following the Closing Date on which Parent completes a Liquidity Event (such earlier
date, the “Lock-Up Period”. Notwithstanding the Lock-Up Period, if, after the Closing Date, the VWAP of Parent Class A Common Stock equals or
exceeds (a) $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 Trading Days within any 30-Trading Day period, 10% of the Restricted
Securities of such Holder shall be released from the lock-up transfer restrictions contemplated by this Agreement or (b) $15.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 Trading Days within any 30-Trading Day period, an additional 10% of the Restricted Securities of such Holder shall be released from the
lock-up transfer restrictions contemplated by this Agreement. 

3.    Transfer Restrictions. 

(a)    The restrictions set forth in Section 2 shall not apply to the Transfer of any or all of
the Restricted Securities owned by a Holder made in respect of a Permitted Transfer; provided, that in case of a Permitted Transfer during the Lock-Up Period, it shall be a condition to such Transfer
that the transferee executes and delivers to Parent an agreement, in substantially the same form of this Agreement, stating that the transferee is receiving and holding the Restricted Securities subject to the provisions of this Agreement applicable
to such Holder, and there shall be no further Transfer of such Restricted Securities except in accordance with this Agreement. 

(b)    If any Transfer is made or attempted contrary to the provisions of this Agreement, such purported Transfer shall be
null and void ab initio, and Parent shall refuse to recognize any such purported transferee of the Restricted Securities as one of its equity holders for any purpose. 

(c)    During the Lock-up Period, stop transfer orders shall be placed against the
Restricted Securities and each certificate or book entry position statement evidencing any Restricted Securities shall be stamped or 

  
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otherwise imprinted with a legend in substantially the following form, in addition to any other applicable legends: 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A
LOCK-UP AGREEMENT, DATED AS OF NOVEMBER 13, 2022, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”), THE ISSUER’S SECURITY HOLDER NAMED THEREIN AND CERTAIN OTHER PARTIES
NAMED THEREIN. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 

(d)    For the avoidance of any doubt, (i) each Holder shall retain all of its rights as a stockholder of Parent
during the Lock-up Period, including the right to vote, and to receive any dividends and distributions in respect of, any Restricted Securities, and (ii) the restrictions contained in
Section 2 shall not apply to any Parent Class A Common Stock or other securities of Parent acquired by each Holder in open market transactions or to any Parent Class A Common Stock (or other securities of Parent)
other than the Restricted Securities. 
 4.    Miscellaneous. 

(a)    Termination of Merger Agreement. Notwithstanding anything to the contrary contained herein, in the event
that the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically terminate and be of no further force or effect. 

(b)    Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure
to the benefit of the parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of each Holder are personal to such Holder and may not be transferred or delegated by such Holder at any time without the
prior written consent of Parent, the Company and Sponsor. Each of Parent and the Company may freely assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale,
asset sale or otherwise) without obtaining the consent or approval of any Holder. Any purported assignment in violation of this Section 4(b) shall be void and ineffectual and shall not operate to transfer or assign any interest or
title to the purported assignee. 
 (c)    Third Parties. Nothing contained in this Agreement or in any
instrument or document executed by any party in connection with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person or entity that is not a party hereto or thereto or a
successor or permitted assign of such a party; provided, that TLG Acquisition Founder LLC, a Delaware limited liability company (“Sponsor”), shall be an express third party beneficiary of this Agreement and shall have the
right to enforce the terms of this Agreement directly against Holder as if Sponsor were an original party hereto. 

(d)    Governing Law; Jurisdiction; Waiver of Jury Trial; Remedies. This Agreement and all related Actions shall be
governed by and construed in accordance with the internal Laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause
the application of the Law of any jurisdiction other than the State of Delaware. THE PARTIES HERETO EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION
(I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE PARTIES HERETO EACH HEREBY AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL


  
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WITHOUT A JURY AND THAT THE PARTIES HERETO MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF
THEIR RIGHT TO TRIAL BY JURY. The parties hereto expressly incorporate by reference Section 8.8 (Jurisdiction; Venue; Service of Process; Jury Waiver) of the Merger Agreement and, subject to Section 4(j) hereof,
Section 8.9 (Specific Enforcement) of the Merger Agreement to apply to this Agreement mutatis mutandis, with references to the Merger Agreement therein deemed to reference this Agreement and references to the “Parties” thereunder
deemed to reference the parties hereto. 
 (e)    Severability. Whenever possible, each provision of this
Agreement will be interpreted in such a manner as to be effective and valid under applicable Law, but if any term or other provision of this Agreement is held to be invalid, illegal or unenforceable under applicable Law, all other provisions of this
Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other
provision of this Agreement is invalid, illegal or unenforceable under applicable Law, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an
acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 

(f)    Construction; Interpretation. The headings set forth in this Agreement are inserted for convenience only and
shall not affect in any way the meaning or interpretation of this Agreement. No party hereto, nor its respective counsel, shall be deemed the drafter of this Agreement for purposes of construing the provisions hereof, and all provisions of this
Agreement shall be construed according to their fair meaning and not strictly for or against any such party. Unless otherwise indicated to the contrary herein by the context or use thereof: (i) the words, “herein,” “hereto,”
“hereof” and words of similar import refer to this Agreement as a whole, and not to any particular section, subsection, paragraph, subparagraph or clause set forth in this Agreement; (ii) masculine gender shall also include the
feminine and neutral genders, and vice versa; (iii) words importing the singular shall also include the plural, and vice versa; (iv) the words “include,” “includes” or “including” shall be deemed to be
followed by the words “without limitation”; (v) references to “$” or “dollar” or “US$” shall be references to United States dollars; (vi) the word “or” is disjunctive but not necessarily
exclusive; (vii) the words “writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form; (viii) the word “extent” in
the phrase “to the extent” means the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”; (ix) all references to Articles or Sections are to Articles or Sections of this Agreement; and
(x) all references to any Law will be to such Law as amended, supplemented or otherwise modified from time to time. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an
ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provision of this Agreement. 
 (g)    Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given) when delivered in person, when delivered by e-mail (having obtained electronic delivery
confirmation thereof), or when sent by registered or certified mail (postage prepaid, return receipt requested) (upon receipt thereof) to the other parties hereto as follows: 
  

					
	If to Parent prior to the Closing, to:	  	With a copy (which will not constitute notice) to:
		
	 TLG Acquisition One Corp.
 515 Flagler Drive,
Suite 520
 West Palm Beach, FL 33401
	  	 Gibson, Dunn & Crutcher LLP

811 Main Street, Suite 3000
 Houston, TX 77002-6117

	Attention: Michael Lawrie	  	Attn:	  	Gerald M. Spedale
	Email: Mikelawrie@tlgholding.com	  		  	Chris Trester
		  	Email:	  	gspedale@gibsondunn.com
		  		  	ctrester@gibsondunn.com


  
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 If to the Company prior to the Closing or to Parent or the Company
after the Closing, to:
	  	  
 With a copy (which shall not constitute notice)
to:

		
	 Electriq Power, Inc.
	  	 Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

	625 N. Flagler Drive	  	New York, New York 10105
	West Palm Beach, FL 33401	  	Attention:	  	David Landau
	Attention: Legal Department	  		  	Anthony Ain
	Email: Jim.vanhoof@electriqpower.com	  	Email:	  	dlandau@egsllp.com
	Phone Number: 860-996-2411	  		  	aain@egsllp.com
	
	If to a Holder, to: the address set forth below such Holder’s name on the signature page to this Agreement.

 (h)    Amendments and Waivers. This Agreement may be amended or modified only with
the written consent of Parent, the Company, Sponsor and the Holders representing a majority of the Restricted Securities then outstanding. The observance of any term of this Agreement may be waived (either generally or in a particular instance, and
either retroactively or prospectively) only with the written consent of the party against whom enforcement of such waiver is sought. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or
exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision. 

(i)    Authorization on Behalf of Parent. In the event that a Holder or a Holder’s Affiliate serves as a
director, officer, employee or other authorized agent of Parent or any of its current or future Affiliates, such Holder and/or such Holder’s Affiliate shall have no authority, express or implied, to act or make any determination on behalf of
Parent or any of its current or future Affiliates in connection with this Agreement or any dispute or Action with respect hereto. 

(j)    Specific Performance. Each Holder acknowledges that its obligations under this Agreement are unique,
recognizes and affirms that in the event of a breach of this Agreement by such Holder, money damages will be inadequate and Parent and the Company will have no adequate remedy at law, and agrees that irreparable damage would occur in the event that
any of the provisions of this Agreement were not performed by such Holder in accordance with their specific terms or were otherwise breached. Accordingly, each of Parent and the Company (or Sponsor on their behalf) shall be entitled to an injunction
or restraining order to prevent breaches of this Agreement by a Holder and to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate, this
being in addition to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity. 

(k)    Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the
parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled; provided that, for the avoidance of doubt, the foregoing
shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Agreements. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Parent and the Company or any of
the obligations of a Holder under any other agreement between such Holder and Parent or the Company or any certificate or instrument executed by such Holder in favor of Parent or the Company, and nothing in any other agreement, certificate or
instrument shall limit any of the rights or remedies of Parent or the Company or any of the obligations of such Holder under this Agreement. 

(l)    Further Assurances. From time to time, at another party’s written request and without further
consideration (but at the requesting party’s reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action as may be reasonably necessary to consummate the transactions
contemplated by this Agreement. 

  
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 (m)    Counterparts; Electronic Signatures. This Agreement
may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement. The words “execution,” “signed,” “signature,” and words of like
import in this Agreement or in any other certificate, agreement or document related to this Agreement shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, “pdf”,
“tif” or “jpg”) and other electronic signatures (including, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, any contract or other record created, generated, sent, communicated,
received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the
Federal Electronic Signatures in Global and National Commerce Act, the Delaware Uniform Electronic Transactions Act and any other applicable law. Minor variations in the form of the signature page, including footers from earlier versions of this
Agreement or any such other document, shall be disregarded in determining the party’s intent or the effectiveness of such signature. 

*    *    *    *    * 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Lock-up Agreement to be duly executed on its behalf as of the day and year first above written. 
  

			
	TLG ACQUISITION ONE CORP.
		
	By:	 	 /s/ John Michael Lawrie

	Name: John Michael Lawrie
	Title: Chief Executive Officer


  
  
  

 
  
  

[Signature Page to Lock-up Agreement] 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Lock-up Agreement to be duly executed on its behalf as of the day and year first above written. 
  

			
	ELECTRIQ POWER, INC.
		
	By:	 	 /s/ Frank Magnotti

	Name: Frank Magnotti
	Title: Chief Executive Officer


  
  
  

 
  
  

[Signature Page to Lock-up Agreement] 

  
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 IN WITNESS WHEREOF, each of the parties has caused this Lock-up Agreement to be duly executed on its behalf as of the day and year first above written. 
  

			
	HOLDERS
	
	GBIF MANAGEMENT LTD. on behalf of Greensoil Building Innovation Fund (Canadian), LP and Greensoil Building Innovation Fund (International), LP
		
	By:	 	 /s/ Gideon Soesman

	Name: Gideon Soesman
	Title:   Managing Partner
	
	GREENSOIL BUILDING INNOVATION FUND CO-INVESTMENT I, L.P.
	
	By: GBIF MANAGEMENT LTD., its general partner
		
	By:	 	 /s/ Gideon Soesman

	Name: Gideon Soesman
	Title:   Managing Partner
	
	Frank Magnotti
		
	By:	 	 /s/ Frank Magnotti

	
	James Van Hoof
		
	By:	 	 /s/ James Van Hoof

	
	Petrina Thomson
		
	By:	 	 /s/ Petrina Thomson

	
	Jan Klube
		
	By:	 	 /s/ Jan Klube

	
	Francis Evans
		
	By:	 	 /s/ Francis Evans

	
	Pravin Bhagat
		
	By:	 	/s/ Pravin Bhagat
	
	Troy Anatra
		
	By:	 	 /s/ Troy Anatra

	
	Ozlem Fonda
		
	By:	 	/s/ Ozlem Fonda


 [Signature Page to Lock-up Agreement] 

  
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