Exhibit 10.3


 


FORM
OF NON-COMPETITION AND NON-SOLICITATION AGREEMENT


 


THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of [●],
2022, by [___]1 (the “Subject Party”) in favor of and for the benefit of Industrial Tech Acquisitions
II, Inc., a Delaware corporation, (including any successor entity thereto, the “Purchaser”), NEXT Renewable
Fuels, Inc., a Delaware corporation (the “Company”), and each of the Purchaser’s and/or the Company’s
respective present and future Affiliates, successors and direct and indirect Subsidiaries (collectively with the Purchaser and the Company,
the “Covered Parties”). Any capitalized term used but not defined in this Agreement will have the meaning ascribed
to such term in the Merger Agreement.


 


WHEREAS,
on or about the date hereof, (i) the Purchaser, (ii) ITAQ Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the
Purchaser (“Merger Sub”), and (iii) the Company entered into that certain Agreement and Plan of Merger (as
amended from time to time in accordance with the terms thereof, the “Merger Agreement”), pursuant to which,
upon the consummation of the transactions contemplated by the Merger Agreement (the “Closing”), (a) Merger
Sub will merge with and into the Company (the “Merger”), with the Company surviving as the surviving entity
(the “Surviving Corporation”), following which, (ii) the Company Security Holders will receive Merger Consideration,
in each case upon the terms and subject to the conditions set forth in the Merger Agreement (such transactions, together with the other
transactions contemplated by the Merger Agreement, the “Transactions”);


 


WHEREAS,
the Company, directly and indirectly through its subsidiaries, will turn recycled organic materials into renewable transportation fuels
(collectively, the “Business”);


 


WHEREAS,
in connection with, and as a condition to the execution and delivery of the Merger Agreement and the consummation of the Transactions,
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 and its Subsidiaries, the Purchaser has required that the Subject Party enter into this Agreement;


 


WHEREAS,
the Subject Party is entering into this Agreement in order to induce the Purchaser to enter into the Merger Agreement and consummate
the Transactions, pursuant to which the Subject Party will directly or indirectly receive a material benefit; and


 


WHEREAS,
the Subject Party, as a former and/or current holder of capital stock and/or securities convertible into capital stock of the Company
has contributed to the value of the Company and its Subsidiaries and has obtained extensive and valuable knowledge and confidential information
concerning the Business of the Company and its Subsidiaries.2


 


NOW,
THEREFORE, in order to induce the Purchaser to enter into the Merger Agreement and consummate the Transactions, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Subject Party hereby agrees as follows:


 


1.
Restriction on Competition.


 


(a)
Restriction. The Subject Party hereby agrees that during the period from the Closing until the three (3) year anniversary of the
Closing Date (the “Restricted Period”) the Subject Party will not, and will cause its Affiliates not to, without
the prior written consent of the Purchaser (which may be withheld in its sole discretion), anywhere in the United States or in any other
markets, countries or territories in which the Covered Parties are engaged, or are actively contemplating to become engaged, in the Business
as of the Closing Date or during the Restricted Period (the “Territory”), directly or indirectly engage in
the Business (other than through a Covered Party) or own, manage, finance or control, or participate in the ownership, management, financing
or control of, or become engaged or serve as an officer, director, member, partner, employee, agent, consultant, contractor, advisor
or representative of, a business or entity (other than a Covered Party) that engages in the Business (a “Competitor”).
Notwithstanding the foregoing, the Subject Party and its Affiliates may own passive investments of no more than two percent (2%) of any
class of outstanding equity interests in a Competitor that is publicly traded, so long as the Subject Party and its Affiliates and immediate
family members are not involved in the management or control of such Competitor (“Permitted Ownership”).


 





 






	1	Non-compete agreements to be signed by certain Company Stockholders
and management personnel.






	2	To include a reference to securities held by management personnel,
if a major stockholder.


 






     


     


    

 


(b)
Acknowledgment. The Subject Party acknowledges and agrees, based upon the advice of legal counsel which the Subject Party acknowledges
has been sought by and provided to the Subject Party to its satisfaction and the Subject Party’s own education, experience and
training, that (i) the Subject Party possesses knowledge of confidential information of the Company and its Subsidiaries and the Business,
(ii) the Subject Party’s execution of this Agreement is a material inducement to the Purchaser and the Company to consummate the
Transactions and to realize the goodwill of the Company and its Subsidiaries, for which the Subject Party and/or its Affiliates will
receive a substantial direct or indirect financial benefit which the Subject Party agrees constitutes adequate consideration for entering
into this Agreement, and that the Purchaser and the Company would not have entered into the Merger Agreement or consummated the Transactions
but for the Subject Party’s agreements set forth in this Agreement; (iii) it would impair the goodwill of the Company and its Subsidiaries
and reduce the value of the assets of the Company and its Subsidiaries and cause serious and irreparable injury if the Subject Party
were to use its ability and knowledge by engaging in the Business in competition with a Covered Party, and/or to otherwise breach the
obligations contained herein and that the Covered Parties would not have an adequate remedy at law because of the unique nature of the
Business, (iv) the Subject Party and its Affiliates have no intention of engaging in the Business (other than through the Covered Parties)
during the Restricted Period other than through Permitted Ownership, (v) the relevant public policy aspects of restrictive covenants,
covenants not to compete and non-solicitation provisions have been discussed, and every effort has been made to limit the restrictions
placed upon the Subject Party to those that are reasonable and necessary to protect the Covered Parties’ legitimate interests,
(vi) the Covered Parties conduct and intend to conduct the Business everywhere in the Territory and compete with other businesses that
are or could be located in any part of the Territory, (vii) the foregoing restrictions on competition are fair and reasonable in type
of prohibited activity, geographic area covered, scope and duration and do not impose an undue hardship on the Subject Party and will
not prevent the Subject Party from earning a living, (viii) the consideration provided to the Subject Party under this Agreement and
the Merger Agreement is not illusory, and (ix) such provisions do not impose a greater restraint than is necessary to protect the goodwill
or other business interests of the Covered Parties.


 


2.
No Solicitation; No Disparagement.


 


(a)
No Solicitation of Employees and Consultants. The Subject Party agrees that, during the Restricted Period, the Subject Party and
its Affiliates will not, without the prior written consent of the Purchaser (which may be withheld in its sole discretion), either on
its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of the Subject Party’s
duties on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent contractor, consultant
or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise knowingly cause (or attempt to do
any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor) of any
Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel and any
Covered Party; provided, however, the Subject Party and its Affiliates will not be deemed to have violated this Section
2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment from the Subject Party or its Affiliate
(or other Person whom any of them is acting on behalf of) by responding to a general advertisement or solicitation program conducted
by or on behalf of the Subject Party or its Affiliate (or such other Person whom any of them is acting on behalf of) that is not targeted
at such Covered Personnel or Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of this Agreement,
“Covered Personnel” shall mean any Person who is or was an employee, consultant or independent contractor of
the Covered Parties, as of such date of the relevant act prohibited by this Section 2(a) or during the one (1) year period preceding
such date.


 


(b)
Non-Solicitation of Customers and Suppliers. The Subject Party agrees that, during the Restricted Period, the Subject Party and
its Affiliates will not, without the prior written consent of the Purchaser (which may be withheld in its sole discretion) and a majority
of the Disinterested Independent Directors, individually or on behalf of any other Person (other than, if applicable, a Covered Party
in the performance of the Subject Party’s duties on behalf of the Covered Parties), directly or indirectly: (i) solicit, induce,
encourage or otherwise knowingly cause (or attempt to do any of the foregoing) any Covered Customer (as defined below) to (A) cease being,
or not become, a client or customer of any Covered Party with respect to the Business or (B) reduce the amount of business of such Covered
Customer with any Covered Party, or otherwise alter such business relationship in a manner adverse to any Covered Party, in either case,
with respect to or relating to the Business; (ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual
relationship between any Covered Party and any Covered Customer; (iii) divert any business with any Covered Customer relating to the
Business from a Covered Party; (iv) solicit for business, provide services to, engage in or do business with, any Covered Customer for
products or services that are part of the Business; or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person
that was a vendor, supplier, distributor, agent or other service provider of a Covered Party at the time of such interference or disruption,
for a purpose competitive with a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered
Customer” shall mean any Person who is or was an actual customer, contractor or client (or prospective customer, contractor
or client with whom a Covered Party actively marketed or made or taken specific action to make a proposal) of a Covered Party, as of
such date of the relevant act prohibited by this Section 2(b) or during the one (1) year period preceding such date.


 


(c)
Non-Disparagement. The Subject Party agrees that from and after the Closing until the three (3) year anniversary of the end of
the Restricted Period, the Subject Party and its Affiliates will not, directly or indirectly engage in any conduct that involves the
making or publishing (including through electronic mail distribution or online social media) of any written or oral statements or remarks
(including the repetition or distribution of derogatory rumors, allegations, negative reports or comments) that are disparaging, deleterious
or damaging to the integrity, reputation or good will of one or more Covered Parties or their respective management, officers, employees,
independent contractors or consultants. Notwithstanding the foregoing, subject to Section 3 below, the provisions of this Section
2(c) shall not restrict the Subject Party or its Affiliates from providing truthful testimony or information in response to a subpoena
or investigation by a Governmental Authority or in connection with any legal action by the Subject Party or its Affiliate against any
Covered Party under this Agreement, the Merger Agreement or any other Ancillary Document that is asserted by the Subject Party or its
Affiliate in good faith.


 






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3.
Confidentiality. From and after the Closing Date, the Subject Party will, and will cause its Representatives to, keep confidential
and not (except, if applicable, in the performance of the Subject Party’s duties on behalf of the Covered Parties) directly or
indirectly use, disclose, reveal, publish, transfer or provide access to, any and all Covered Party Information without the prior written
consent of the Purchaser (which may be withheld in its sole discretion). As used in this Agreement, “Covered Party Information”
means all material and information relating to the business, affairs and assets of any Covered Party, including material and information
that concerns or relates to such Covered Party’s bidding and proposal, technical information, computer hardware or software, administrative,
management, operational, data processing, financial, marketing, customers, sales, human resources, employees, vendors, business development,
planning and/or other business activities, regardless of whether such material and information is maintained in physical, electronic,
or other form, that is: (A) gathered, compiled, generated, produced or maintained by such Covered Party through its Representatives,
or provided to such Covered Party by its suppliers, service providers or customers; and (B) intended and maintained by such Covered Party
or its Representatives, suppliers, service providers or customers to be kept in confidence. Covered Party Information also includes information
disclosed to any Covered Party by a third party to the extent that a Covered Party has an obligation of confidentiality in connection
therewith. The obligations set forth in this Section 3 will not apply to any Covered Party Information where the Subject Party
can prove that such material or information: (i) is known or available through other lawful sources not bound by a confidentiality agreement
or other confidentiality obligation with respect to such material or information; (ii) is or becomes publicly known through no violation
of Law, this Agreement or other non-disclosure obligation of the Subject Party or any of its Representatives; (iii) is already in the
possession of the Subject Party at the time of disclosure through lawful sources not bound by a confidentiality agreement or other confidentiality
obligation as evidenced by the Subject Party’s documents and records; or (iv) is required to be disclosed pursuant to an order
of any administrative body or court of competent jurisdiction (provided that (A) the applicable Covered Party is given reasonable prior
written notice, (B) the Subject Party cooperates (and causes its Representatives to cooperate) with any reasonable request of any Covered
Party to seek to prevent or narrow such disclosure and (C) if after compliance with clauses (A) and (B) such disclosure is still required,
the Subject Party and its Representatives only disclose such portion of the Covered Party Information that is expressly required by such
order, as it may be subsequently narrowed).


 


4.
Representations and Warranties. The Subject Party hereby represents and warrants, to and for the benefit of the Covered Parties as
of the date of this Agreement and as of the Closing Date, that: (a) the Subject Party has full power and capacity to execute and deliver,
and to perform all of the Subject Party’s obligations under, this Agreement; and (b) neither the execution and delivery of this
Agreement nor the performance of the Subject Party’s obligations hereunder will result directly or indirectly in a violation or
breach of any agreement or obligation by which the Subject Party is a party or otherwise bound. By entering into this Agreement, the
Subject Party certifies and acknowledges that the Subject Party has carefully read all of the provisions of this Agreement, and that
the Subject Party voluntarily and knowingly enters into this Agreement.


 


5.
Remedies and Specific Performance. The covenants and undertakings of the Subject Party contained in this Agreement relate to matters
which are of a special, unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable
injury to the Covered Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated.
The Subject Party agrees that, in the event of any breach or threatened breach by the Subject Party of any covenant or obligation contained
in this Agreement, each applicable Covered Party will be entitled to obtain the following remedies (in addition to, and not in lieu of,
any other remedy at law or in equity or pursuant to the Merger Agreement or the other Ancillary Documents that may be available to the
Covered Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining order or
other equitable relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages or
that monetary damages would be insufficient or posting bond or security, which the Subject Party expressly waives; and (ii) recovery
of the Covered Party’s attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement.
The Subject Party hereby consents to the award of any of the above remedies to the applicable Covered Party in connection with any such
breach or threatened breach. The Subject Party hereby acknowledges and agrees that in the event of any breach of this Agreement, any
value attributed or allocated to this Agreement (or any other non-competition agreement with the Subject Party) under or in connection
with the Merger Agreement shall not be considered a measure of, or a limit on, the damages of the Covered Parties. Subject Party further
acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of a breach of this Agreement
by Subject Party, money damages will be inadequate and Purchaser 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 Subject Party in accordance with their specific
terms or were otherwise breached. Accordingly, the Purchaser shall be entitled to an injunction or restraining order to prevent breaches
of this Agreement by Subject Party 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.


 






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6.
Survival of Obligations. The expiration of the Restricted Period will not relieve the Subject Party of any obligation or liability
arising from any breach by the Subject Party of this Agreement during the Restricted Period. The Subject Party further agrees that the
time period during which the covenants contained in Section 1 and Section 2 of this Agreement will be effective will be
computed by excluding from such computation any time during which the Subject Party is in violation of any provision of such Sections.


 


7.
Miscellaneous.


 


(a)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been
duly given when delivered (i) in person, (ii) by other electronic means (including email), with affirmative confirmation of receipt,
(iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):


 


	If, at or prior to the Closing, Purchaser, to:	 	With a copy (which will not constitute notice) to:
	 	 	 
	Industrial Tech Acquisitions II, Inc.	 	Ellenoff Grossman & Schole LLP
	5090 Richmond Ave, Suite 319	 	1345 Avenue of the Americas, 11th Floor
	Houston, Texas, 77056	 	New York, New York 10105
	Attn: 	 R. Greg
    Smith                                   	 	Attn: 	Richard I. Anslow, Esq. (ext. 7194)         
	Telephone: (713) 599-1300	 	 	Asher S. Levitsky P.C. (ext. 7152)
	Email: greg@texasventures.com	 	Telephone No.: (212) 370-1300
	 	 	Email: 	ranslow@egsllp.com
	 	 	 	alevitsky@egsllp.com
	 	 	 
	If to the Purchaser after the Closing, to:	 	with a copy (which shall not constitute notice) to:
	 	 	 
	NEXTCLEAN Fuels, Inc.	 	ArentFox Schiff LLP
	11767 Katy Freeway	 	1717 K Street NW
	Suite 700	 	Washington, DC 20006
	Houston, Texas 77079	 	Attn: Ralph De Martino, Esq.
	Attn: 	Chris Efird, CEO, and	 	Nick Tipsord, Esq.
	David Kane, CFO	 	Telephone No.: 202.724.6848
	Telephone No.: 281.541.7311	 	Email: Ralph.DeMartino@afslaw.com
	Email: chris@nextrenewables.com	 	Nick.Tipsord@afslaw.com
	david@nextrenewables.com	 	
	 	 	and
	 	 	 
	 	 	Ellenoff Grossman & Schole LLP
	 	 	1345 Avenue of the Americas, 11th Floor
	 	 	New York, New York 10105
	 	 	Attn: 	Richard I. Anslow, Esq. (ext. 7194)
	 	 	 	Asher S. Levitsky P.C. (ext. 7152)
	 	 	Telephone No.: (212) 370-1300
	 	 	Email: 	ranslow@egsllp.com
	 	 	 	alevitsky@egsllp.com





	 	 
	If to the Subject Party, to:

                                                                                 

                                                                                the
address below the Subject Party’s name on the signature page to this Agreement.



 


(b)
Integration and Non-Exclusivity. This Agreement, together with the Merger Agreement to the extent referred to herein, 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 Document.
Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities
of the Subject Party and its Affiliates, under this Agreement, are in addition to their respective rights, remedies, obligations and
liabilities (i) under the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or common
law, or any applicable rules and regulations and (ii) otherwise conferred by contract, including the Merger Agreement and any other written
agreement between the Subject Party or its Affiliate and any of the Covered Parties. Nothing in the Merger Agreement will limit any of
the obligations, liabilities, rights or remedies of the Subject Party or the Covered Parties under this Agreement, nor will any breach
of the Merger Agreement or any other agreement between the Subject Party or its Affiliate and any of the Covered Parties limit or otherwise
affect any right or remedy of the Covered Parties under this Agreement. If any term or condition of any other agreement between the Subject
Party or its Affiliate and any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this Agreement, the
more restrictive terms will control as to the Subject Party or its Affiliate, as applicable.


 






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(c)
Severability; Reformation. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction,
such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid,
legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected
or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction.
Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute
for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal
and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. The Subject Party and the Covered Parties
will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may
be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. Without limiting the foregoing,
if any court of competent jurisdiction determines that any part hereof is unenforceable because of the duration, geographic area covered,
scope of such provision, or otherwise, such court will have the power to reduce the duration, geographic area covered or scope of such
provision, as the case may be, and, in its reduced form, such provision will then be enforceable. The Subject Party will, at a Covered
Party’s request, join such Covered Party in requesting that such court take such action.


 


(d)
Amendment; Waiver. Any term of this Agreement may be amended and 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 Purchaser and
Holder. 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.


 


(e)
Dispute Resolution. Any and all disputes, controversies and claims (other than applications for specific performance, a temporary
restraining order, preliminary injunction, permanent injunction or other equitable relief or application for enforcement of a resolution
under this Section 7(e)) arising out of, related to, or in connection with this Agreement or the transactions contemplated hereby
(a “Dispute”) shall be governed by this Section 7(e). A party must, in the first instance, provide written
notice of any Disputes to the other parties subject to such Dispute, which notice must provide a reasonably detailed description of the
matters subject to the Dispute. The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within ten
(10) Business Days of the notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution
Period”); provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided
within sixty (60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any
Dispute that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant
to the then-existing Expedited Procedures (as defined in the AAA Procedures) of the Commercial Arbitration Rules (the “AAA Procedures”)
of the AAA. Any party involved in such Dispute may submit the Dispute to the AAA to commence the proceedings after the Resolution Period.
To the extent that the AAA Procedures and this Agreement are in conflict, the terms of this Agreement shall control. The arbitration
shall be conducted by one arbitrator nominated by the AAA promptly (but in any event within five (5) Business Days) after the submission
of the Dispute to the AAA and reasonably acceptable to each party subject to the Dispute, which arbitrator shall be a commercial lawyer
with substantial experience arbitrating disputes under acquisition agreements. The arbitrator shall accept his or her appointment and
begin the arbitration process promptly (but in any event within five (5) Business Days) after his or her nomination and acceptance by
the parties subject to the Dispute. The proceedings shall be streamlined and efficient. The arbitrator shall decide the Dispute in accordance
with the substantive law of the state of Delaware. Time is of the essence. Each party subject to the Dispute shall submit a proposal
for resolution of the Dispute to the arbitrator within twenty (20) days after confirmation of the appointment of the arbitrator. The
arbitrator shall have the power to order any party to do, or to refrain from doing, anything consistent with this Agreement, the Ancillary
Documents and applicable Law, including to perform its contractual obligation(s); provided, that the arbitrator shall be limited to ordering
pursuant to the foregoing power (and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply
with only one or the other of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation
of the arbitrator’s reason(s) for selecting one or the other proposal. The seat of arbitration shall be in the State of Delaware.
The language of the arbitration shall be English.


 


(f)
Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State
of Delaware without regard to the conflict of laws principles thereof. Subject to Section 7(e), all Actions arising out of or
relating to this Agreement shall be heard and determined exclusively in any state or federal court located in the State of Delaware (or
in any appellate court thereof) (the “Specified Courts”). Subject to Section 7(e), each Party hereto hereby
(a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement
brought by any Party hereto and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such
Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune
from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that
this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court. Each Party agrees that a final
judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by Law. Each Party irrevocably consents to the service of the summons and complaint and any other process in any other Action
relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies of
such process to such Party at the applicable address set forth in Section 7(a). Nothing in this Section 7(f) shall affect
the right of any Party to serve legal process in any other manner permitted by Law. 


 






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(g)
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 7(g).


 


(h)
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon the Subject Party and the Subject Party’s
estate, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns. Each
Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person which
acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise) of
such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a whole, without obtaining
the consent or approval of the Subject Party. The Subject Party agrees that the obligations of the Subject Party under this Agreement
are personal and will not be assigned by the Subject Party. Each of the Covered Parties are express third party beneficiaries of this
Agreement and will be considered parties under and for purposes of this Agreement.


 


(i)
Authorization on Behalf of Covered Parties. The parties acknowledge and agree that enforcement of the Purchaser and/or any other
Covered Parties’ rights and remedies, and the grant of any waivers or amendments under this Agreement may be made, taken and authorized
on behalf of the Covered Parties only following the affirmative vote or consent of a majority of the Disinterested Independent Directors.
For purposes of this Agreement, a “Disinterested Independent Director” means an independent director (as defined
under the rules and regulations of The Nasdaq Stock Market) serving on the Purchaser’s board of directors at the applicable time
of determination, that is not a pre-Closing Company shareholder, an Affiliate of a pre-Closing Company shareholder, or an officer, director,
manager, employee, trustee or beneficiary of a pre-Closing Company shareholder or its Affiliate, nor an immediate family member of any
of the foregoing. Without limiting the foregoing, in the event that a pre-Closing Company shareholder or its Affiliate serves as a director,
officer, employee or other authorized agent of the Purchaser, the pre-Closing Company shareholder or its Affiliate shall have no authority,
express or implied, to act or make any determination on behalf of the Purchaser in connection with this Agreement or any dispute, action
or legal proceeding respect hereto.


 


(j)
Construction. In this Agreement, unless the context otherwise requires: (a) any pronoun used shall include the corresponding masculine,
feminine or neuter forms, and words in the singular, including any defined terms, include the plural and vice versa; (b) reference to
any Person includes such Person’s successors and assigns but, if applicable, only if such successors and assigns are permitted
by this Agreement, and reference to a Person in a particular capacity excludes such Person in any other capacity; (c) any accounting
term used and not otherwise defined in this Agreement or any Ancillary Document has the meaning assigned to such term in accordance with
GAAP; (d) “including” (and with correlative meaning “include”) means including without limiting the generality
of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words “without limitation”;
(e) the words “herein,” “hereto,” and “hereby” and other words of similar import shall be deemed
in each case to refer to this Agreement as a whole and not to any particular Section or other subdivision of this Agreement; (f) the
word “if” and other words of similar import when used herein shall be deemed in each case to be followed by the phrase “and
only if”; (g) the term “or” means “and/or”; (h) any reference to the term “ordinary course”
or “ordinary course of business” shall be deemed in each case to be followed by the words “consistent with past practice”;
(i) any agreement, instrument, insurance policy, Law or Order defined or referred to herein or in any agreement or instrument that is
referred to herein means such agreement, instrument, insurance policy, Law or Order as from time to time amended, modified or supplemented,
including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes, regulations, rules or orders)
by succession of comparable successor statutes, regulations, rules or orders and references to all attachments thereto and instruments
incorporated therein; (j) except as otherwise indicated, all references in this Agreement to the words “Section,” “Article”,
“Schedule” and “Exhibit” are intended to refer to Sections, Articles, Schedules and Exhibits to this Agreement;
and (k) the term “Dollars” or “$” means United States dollars. Any reference in this Agreement to a Person’s
directors shall include any member of such Person’s governing body and any reference in this Agreement to a Person’s officers
shall include any Person filling a substantially similar position for such Person. Any reference in this Agreement or any Ancillary Document
to a Person’s stockholders shall include any applicable owners of the equity interests of such Person, in whatever form, including
with respect to the Purchaser its stockholders under the DGCL or its Organizational Documents. The Parties 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. To the extent that any Contract, document, certificate
or instrument is represented and warranted to by the Company to be given, delivered, provided or made available by the Company, in order
for such Contract, document, certificate or instrument to have been deemed to have been given, delivered, provided and made available
to the Purchaser or its Representatives, such Contract, document, certificate or instrument shall have been posted to the electronic
data site maintained on behalf of the Company for the benefit of the Purchaser and its Representatives and the Purchaser and its Representatives
have been given access to the electronic folders containing such information.


 


(k)
Counterparts. This Agreement may be executed and delivered (including by pdf or other electronic transmission) in one or more
counterparts, and by the different Parties hereto in separate counterparts, each of which when executed shall be deemed to be an original
but all of which taken together shall constitute one and the same agreement.


 


(l)
Effectiveness. This Agreement shall be binding upon the Subject Party upon the Subject Party’s execution and delivery of
this Agreement, but this Agreement shall only become effective upon the consummation of the Transactions. In the event that the Merger
Agreement is validly terminated in accordance with its terms prior to the consummation of the Transactions, this Agreement shall automatically
terminate and become null and void, and the parties shall have no obligations hereunder.


 


[Remainder
of Page Intentionally Left Blank; Signature Page Follows]


 




    6


     


    

 


IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first
written above.


 


	 	Subject Party:
	 	 
	 	[__________]
	 	 	 
	 	 
	 	Name:
	 	 
	 	Signing in [his/her] capacity as a stockholder of the Company.
	 	 	                      
	 	Address for Notice:
	 	 
	 	Address:	                                                    
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 


 


{Signature Page to Non-Competition Agreement}

 




    7


     


    

 


	Acknowledged and accepted as of the date first written above:	 
	 	 
	The Purchaser: 	 
	 	 
	Industrial Tech Acquisitions II, Inc. 	 
	 	 
	By:	                  	 
	Name: 	 	 
	Title: 	 	 


 






     


     


    

 


	The Company:	 
	 	 
	NEXT Renewable Fuels, Inc.	 
	 	 	 
	By:	          	 
	Name: 	 	 
	Title:	 	 


 


{Signature Page to Non-Competition Agreement}