Document:

EX-10.5

 Exhibit 10.5 

FORM OF INVESTMENT AGREEMENT 

THIS INVESTMENT AGREEMENT (this “Agreement”), dated as of [•], 2021, is by and among (i) CEA Space Partners I Corp.,
a Delaware corporation (the “SPAC”), (ii) CEA Space Holdings I, LLC, a Delaware limited liability company (the “Sponsor”), and (iii) [•] (the “Investor”). 

WHEREAS, the SPAC has filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1 (as amended, the “Registration Statement”) for the initial public offering (the “IPO”) of units of the SPAC at a price of $10.00 per unit (the “Units”), each
comprised of one share of Class A common stock, par value $0.0001 per share, of the SPAC (the “Class A Shares”) and one-half of one redeemable warrant, with each whole
warrant exercisable to purchase one Class A Share at an exercise price of $11.50 per share (the “Warrants”). 

WHEREAS, in connection with the IPO, the Investor has expressed an interest in acquiring up to [4.9%/9.9%] of the Units offered in the IPO, or
up to [1,225,000/2,475,000] Units assuming 25,000,000 Units in the aggregate are offered in the IPO, without giving effect to any exercise of the underwriters’ over-allotment option (such Units, the “IPO Indication”), at the
initial public offering price of $10.00 per Unit. 
 WHEREAS, the parties wish to enter into this Agreement pursuant to which, upon the
terms and subject to the conditions hereof, the Investor will purchase from the Sponsor certain shares of Class B common stock, par value $0.0001 per share, of the SPAC (the “Founder Shares”) at a purchase price of $0.01 per
share. 
 NOW THEREFORE, the parties hereto hereby agree as follows: 

Section 1. Sale and Purchase. 

(a) In connection with the IPO Indication, and subject to the satisfaction of the conditions set forth in
Section 1(b), the Sponsor hereby agrees to sell to the Investor [93,750/187,500] Founder Shares (the “Transferred Shares”) for an aggregate purchase price of $[937.50/1,875.00] for all of the Transferred
Shares (the “Transfer Price”), and the Investor hereby agrees to purchase the Transferred Shares as aforesaid (the “Transfer”), on the date of the closing of the IPO. Concurrently with the Transfer, in consideration
for the Transfer of the Transferred Shares, the Investor shall pay the Transfer Price to the Sponsor in immediately available funds. 
 (b)
Subject to (i) the fulfillment by the Investor of the IPO Indication (which shall include the acquisition of 100% of the Units of the SPAC allocated to the Investor by the underwriters in the IPO, in an aggregate amount not to exceed
[4.9%/9.9%] of the Units issued and sold in the IPO), and (ii) the Investor’s payment of the Transfer Price as contemplated by Section 1(a) of this Agreement, the Transfer shall occur and be effective upon the
closing of the IPO, automatically and without any further action of any party hereto. The Transferred Shares shall not be subject to forfeiture (including, without limitation if the IPO underwriters’ over-allotment option is not exercised) or earn-out provisions. 
 Section 2. Representations and Warranties of the SPAC. The SPAC hereby
represents and warrants to the Investor as follows: 
 (a) [The SPAC is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of
the SPAC.] The SPAC has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. 

(b) This Agreement has been duly and validly executed and delivered by the SPAC and constitutes a legal, valid and binding obligation of the
SPAC enforceable against the SPAC in accordance with its terms. 
  

 (c) The execution and delivery of this Agreement, the consummation of the transactions
contemplated hereby and the performance by the SPAC of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other instrument to which the SPAC is a party or by which
the SPAC is bound, or any decree, order, statute, rule or regulation applicable to the SPAC. 
 (d) Except for effectiveness of the
Registration Statement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the SPAC in connection
with the consummation of the transactions contemplated by this Agreement. 
 (e) [There are no actions, suits, investigations or proceedings
pending, threatened or affecting the SPAC or the Transferred Shares which (i) seek to restrain, enjoin, prevent the consummation of, or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity or
legality of any transactions or seek to recover damages or to obtain other relief in connection with any transactions.]. 
 Section 3.
Representations and Warranties of the Sponsor. The Sponsor hereby represents and warrants to the Investor as follows: 
 (a) [The
Sponsor is a Delaware limited liability company and is qualified to business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or
assets of the Sponsor.] The Sponsor has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. 

(b) This Agreement has been duly and validly executed and delivered by the Sponsor and constitutes a legal, valid and binding obligation of
the Sponsor enforceable against the Sponsor in accordance with its terms. 
 (c) The execution and delivery of this Agreement, the
consummation of the transactions contemplated hereby and the performance by the Sponsor of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other instrument to
which the Sponsor is a party or by which the Sponsor is bound, or any decree, order, statute, rule or regulation applicable to the Sponsor. 

(d) No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority is required on the part of the Sponsor in connection with the consummation of the transactions contemplated by this Agreement. 

(e) [The Founder Shares, when issued to the Sponsor, were duly authorized and validly issued, fully paid and
non-assessable, free and clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options, voting trusts, proxies and other arrangements or restrictions of any kind, other
than those arising under applicable securities laws or as otherwise disclosed in the Registration Statement and were not issued in violation of, or subject to, any preemptive or similar rights.] 

(f) [Substantially concurrently with the execution of this Agreement, the Sponsor is entering into separate agreements with other “anchor
investors” in respect of the purchase of the Transferred Shares and the IPO. The Sponsor represents that the material terms of such other agreements are no more favorable to such other “anchor investors” thereunder than the terms of
this Agreement. For the avoidance of doubt, if any other “anchor investor” has an ability to purchase more Founder Shares for the similar amount of consideration than the Investor, then such other “anchor investor” shall be
considered to have more favorable material terms than the Investor. In the case that another “anchor investor” is afforded any such more favorable terms than the Investor, the Sponsor shall immediately so inform the Investor of such more
favorable terms, and the Investor shall have the right to elect to have such more favorable terms, in which case the parties hereto shall promptly amend this Agreement to effect the same. Notwithstanding the foregoing, this provision does not apply
to any investor that participates in the at-risk capital of the Sponsor via a meaningful investment or enters into a formal forward purchase agreement in connection with a private investment in public equity
in support of the SPAC’s Business Combination (as defined below).] 

  
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 Section 4. Representations and Warranties of the Investor. The Investor hereby
represents and warrants to the SPAC and the Sponsor, as follows: 
 (a) The Investor has full power and authority to execute and deliver
this Agreement and to perform its obligations hereunder. 
 (b) This Agreement has been duly and validly executed and delivered by the
Investor and constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms. 

(c) The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and the performance by the Investor
of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other instrument to which the Investor is a party or by which the Investor is bound, or any decree, order,
statute, rule or regulation applicable to the Investor. 
 (d) No consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the Investor in connection with the consummation of the transactions contemplated by this Agreement. 

(e) The Investor is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities Act of 1933,
as amended (the “Securities Act”), and has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor’s investment in the Founder Shares,
including Class A Shares issuable upon conversion of the Founder Shares (together, the “Securities”), of making an informed investment decision with respect thereto, and has the ability and capacity to protect the
Investor’s interests. 
 (f) The Investor hereby confirms that the Securities to be acquired by the Investor will be acquired for
investment for the Investor’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Investor has no present intention of selling, granting any participation in, or otherwise
distributing the same in violation of law. By executing this Agreement, the Investor further represents that the Investor does not presently have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer or
grant participations to such person or entity or to any third party, with respect to any of the Securities. 
 (g) The Investor has had the
opportunity to ask questions and receive answers from the officers and directors of the SPAC and all persons acting on its behalf concerning the proposed business, management, financial condition and affairs of the SPAC and the terms and conditions
of the IPO, the Units, the Class A Shares, the Warrants and the Founder Shares, and has reviewed the Registration Statement and understands the terms and conditions of the IPO and all such securities. 

(h) The Investor understands that the offer and sale of the Securities to the Investor has not been, and will not be, registered under the
Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Investor’s
representations as expressed herein. The Investor understands that the Securities are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, the Investor must hold the Securities
indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Investor understands that no public market now exists for the Securities
and that the SPAC has made no assurances that a public market will ever exist for the Securities. The Investor acknowledges that the SPAC has no obligation to register or qualify the Securities for resale. The Investor further acknowledges that if
an exemption from registration or qualification is available, the exemption may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating to
the SPAC which are outside of the parties’ control, and which the SPAC is under no obligation and may not be able to satisfy. The Investor understands that the offering of the Securities is not, and is not intended to be, part of the IPO, and
that the Investor will not be able to rely on the protection of Section 11 of the Securities Act with respect to the Securities. 

  
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 (i) The Investor is not, and is not acting as, an agent, representative, intermediary or
nominee for any person identified on the list of blocked persons maintained by the Office of Foreign Assets Control of the U.S. Treasury Department; and the Investor has complied with all applicable U.S. laws, regulations, directives and executive
orders relating to anti-money laundering. 
 Section 5. Additional Agreements and Acknowledgements of the Investor. 

(a) The Investor agrees not to transfer, assign or sell any Securities held by the Investor until the earlier of (i) one year after the
date the SPAC consummates a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (a “Business Combination”) and (ii) the
earlier to occur of, subsequent to a Business Combination, (A) the first date on which the last reported sale price of the Class A Shares equals or exceeds $12.00 per share (as adjusted for share
sub-divisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
after the consummation of a Business Combination and (B) the date on which the SPAC consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the SPAC’s shareholders having the right
to exchange their Class A Shares for cash, securities or other property. 
 (b) The Investor acknowledge that the SPAC was formed for
the purpose of effecting a Business Combination. The Investor agrees that if the SPAC seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business Combination, the Investor shall vote all of the
Securities held by the Investor in favor of such proposed Business Combination (including any proposals recommended by the Board of Directors of the SPAC in connection with such Business Combination) and not have the SPAC redeem any Securities in
connection with such shareholder approval. 
 (c) The Investor acknowledges that it is aware the SPAC will establish a trust account (the
“Trust Account”) for the benefit of its public shareholders upon the closing of the IPO. The Investor agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other
asset of the SPAC as a result of any liquidation of the SPAC with respect to the Securities, it being understood that the Investor shall have redemption rights with respect to the Class A Shares included in the Units it purchases in the IPO or
Class A Shares it may purchase in the open market following the IPO. 
 (d) In connection with the IPO, the SPAC shall enter into a
registration rights agreement (the “Registration Rights Agreement”) with the Sponsor, the Investor and certain other parties thereto. The Registration Rights Agreement shall provide the Investor with registration rights with respect
to the Securities that are not less favorable in any material respect to the Investor than the registration rights of the Sponsor set forth therein. 

(e) During the period commencing on the effective date of the Underwriting Agreement entered into in connection with the IPO (the
“Underwriting Agreement”) and ending 180 days after such effective date, the Investor shall not, without the prior written consent of the lead or managing underwriter of the IPO, directly or indirectly, sell, transfer or dispose of
any interest in any Founder Shares held by the Investor, except as expressly permitted in the Underwriting Agreement. 
 Section 6.
Miscellaneous. 
 (a) Each party shall bear its own fees and expenses incurred in connection with this Agreement and the transactions
contemplated hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. 
 (b)
This Agreement shall be governed by the internal laws of the State of New York, without giving effect to any principles of conflicts of law thereof. 

(c) This Agreement may not be amended, modified or waived without the written consent of each of the parties hereto. 

  
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 (d) The rights and obligations under this Agreement may not be assigned by any party hereto
without the prior written consent of the other parties hereto. 
 (e) From time to time, at the reasonable request of any of the other
parties hereto, each party hereto shall execute and deliver to the other parties hereto such additional documents and instruments and take such further lawful action as may be necessary to consummate and make effective, in the most expeditious
manner practicable, the transactions contemplated by this Agreement. 
 (f) Any term or provision of this Agreement which is invalid or
unenforceable shall be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining rights of the person intended to be benefited by such provision or any other provisions of this
Agreement. 
 (g) This Agreement may be executed in two or more counterparts, each of which shall constitute an original, and all of which
taken together shall constitute one and the same instrument. This Agreement may be executed electronically through customary means and any signature page delivered by a facsimile machine or electronic mail shall be binding to the same extent as an
original signature page. 
 (h) [Neither the SPAC nor the Sponsor shall, or shall permit any controlled Affiliate thereof to, disclose the
identity of the Investor or its known affiliates or principals (in any regulatory filing or otherwise) without the prior consent of such Investor, except as required by applicable law or regulatory authority.] 

* * * * * 

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

 

			
	THE INVESTOR:
	
	[•]

 
			
		
	By:	 	  

 
			
	Name:
	Title:
	
	Address:
	___________________________________________
	___________________________________________
	___________________________________________
	
	Email: ______________________________________
	
	Attention: ___________________________________

 
			
	
	THE SPAC:
	
	CEA Space Partners I Corp.
		
	By:	 	  

	Name:
	Title:
	
	THE SPONSOR:
	
	CEA Space Holdings I, LLC
	
	By: CEA Space Partners I LLC, its manager
		
	By:	 	  

		 	Name:
		 	Title:

 Signature Page to Investment AgreementExhibit 10.1

 

 

EXECUTIVE EMPLOYMENT AGREEMENT

This Executive Employment
Agreement (this “Agreement”) is effective as of November 1, 2021 (the “Effective Date”) by and between XL Fleet
Corp. (the “Company”), a Delaware corporation, and Eric Tech (“Executive”).

1.            Roles and Duties. 

(a)       Chief
Executive Officer Role. Subject to the terms and conditions of this Agreement, the Company shall employ Executive as its Chief Executive
Officer, reporting to the Company’s Board of Directors (the “Board”). Executive shall have such duties and responsibilities
as are reasonably determined by the Board and are consistent with the duties customarily performed by Executive’s position in a
similarly situated company in the United States. Executive accepts such employment upon the terms and conditions set forth herein, and
agrees to perform such duties and discharge such responsibilities to the best of Executive’s ability. During Executive’s employment,
Executive shall devote all of Executive’s business time and energies to the business and affairs of the Company. Notwithstanding
the foregoing, nothing herein shall preclude Executive from (i) performing services for such other companies as the Company may designate
or permit; (ii) serving, with the prior written consent of the Board, which consent shall not be unreasonably withheld, as a member of
the boards of directors or advisory boards (or their equivalents in the case of a non-corporate entity) of non-competing businesses or
charitable, educational or civic organizations; (iii) engaging in charitable activities and community affairs; and (iv) managing Executive’s
personal investments and affairs; provided, however, that the activities set out in clauses (i), (ii), (iii) and (iv) shall be limited
by Executive so as not to materially interfere, individually or in the aggregate, with the performance of Executive’s duties and
responsibilities hereunder.

(b)       Board
Membership. Executive shall serve as a member of the Board during the Term (as defined below) of Executive’s employment. The
Company or the applicable Board committee will recommend Executive to the Board for nomination, and the Board shall nominate Executive
for election and, as appropriate, reelection to the Board. Executive understands and agrees that, regardless of whether he is serving
as on the Board at the time, Executive shall not participate in any deliberations or actions undertaken by the Board with respect to any
determination that the Board may consider reaching with respect to matters covered by Sections 2 or 3 below. Executive’s service
as a Board member shall be without further compensation. Upon termination of Executive's employment with the Company, for any reason,
Executive shall resign immediately from the Board and from any officer or board positions at any affiliate, if any, for which Executive
is then currently serving as a director or officer at the time of termination of employment. Executive agrees to execute such documents,
if any, as are reasonably necessary or appropriate to effectuate such resignations. In the absence of any other written resignation proffered
to the Board, this Agreement, upon such termination, shall constitute such a written resignation.

 

2.            Term of Employment.

(a)               
Term. Subject to the terms hereof, Executive’s employment hereunder shall commence on December 1, 2021 (the “Commencement
Date”) and shall continue until terminated hereunder by either party (such term of employment shall be referred to herein as the
“Term”).

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(b)          Termination.
Notwithstanding anything else contained in this Agreement, Executive’s employment hereunder shall terminate upon the earliest to
occur of the following:

(i)           Death. Immediately upon Executive’s death;

(ii)          Termination
by the Company.

(A)               
If because of Executive’s Disability (as defined below in Section 2(c)), written notice by the Company to Executive that Executive’s
employment is being terminated as a result of Executive’s Disability, which termination shall be effective on the date of such notice
or such later date as specified in writing by the Company;

(B)               
If for Cause (as defined below in Section 2(d)), written notice by the Company to Executive that Executive’s employment is being
terminated for Cause, which termination shall be effective on the date of such notice or such later date as specified in writing by the
Company, provided that if prior to the effective date of such termination Executive has cured the circumstances giving rise to
the Cause (if capable of being cured as provided in Section 2(d)), then such termination shall not be effective; or

(C)               
If by the Company for reasons other than under Sections 2(b)(ii)(A) or (B), written notice by the Company to Executive that Executive’s
employment is being terminated, which termination shall be effective thirty (30) days after the date of such notice.

(iii)         Termination
by Executive.

(A)               
If for Good Reason (as defined below in Section 2(e)), written notice by Executive to the Company that Executive is terminating Executive’s
employment for Good Reason and that sets forth the factual basis supporting the alleged Good Reason, which termination shall be effective
thirty (30) days after the date of such notice; provided that if prior to the effective date of such termination the Company has
cured the circumstances giving rise to the Good Reason if capable of being cured as provided in Section 2(e), then such termination shall
not be effective; or

(B)               
If without Good Reason, written notice by Executive to the Company that Executive is terminating Executive’s employment, which termination
shall be effective no fewer than sixty (60) days after the date of such notice unless waived, in whole or in part, by the Company.

Notwithstanding anything
in this Section 2(b), the Company may at any point, under the conditions set forth in Section 2(b)(ii)(B), terminate Executive’s
employment for Cause prior to the effective date of any other termination contemplated hereunder; provided that if prior to the
effective date of such for-Cause termination Executive has cured the circumstances giving rise to the Cause (if capable of being cured
as provided in Section 2(d)), then such termination shall not be effective.

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(c)            Definition of “Disability”. For purposes of this Agreement, “Disability” shall mean Executive’s incapacity
or inability to perform Executive’s duties and responsibilities as contemplated herein by reason of a medically determinable mental
or physical impairment for one hundred twenty (120) days or more within any one (1) year period (cumulative or consecutive), which impairment
can reasonably be expected to result in death or can be expected to last for a continuous period of not less than six (6) months. The
determination that Executive is disabled hereunder, if disputed by the parties, shall be resolved by a physician reasonably satisfactory
to Executive and the Company, at the Company’s expense, and the determination of such physician shall be final and binding upon
both Executive and the Company. Executive hereby consents to such examination and consultation by a physician. The Company will keep all
information it receives as a result of such inquiry and determination confidential and will not use it for any purpose other than in connection
with exercising its rights under this Agreement.

(d)           Definition
of “Cause”. As used herein, “Cause” shall mean: (i) Executive’s act(s) of gross negligence,
willful misconduct or material dishonesty in the course of Executive’s employment hereunder, provided that the Board first provides
Executive with written notice of such conduct and thirty (30) days to cure such conduct; (ii) misappropriation (or attempted misappropriation)
by Executive of any assets of the Company or any of its affiliates; (iii) the commission or attempted commission of any act of fraud
or embezzlement by Executive; (iv) willful violation of any law or regulation which adversely and materially affects Executive’s
ability to discharge Executive’s duties or has a direct, substantial and adverse effect on the Company; (v) Executive’s material
breach of this Agreement provided that the Company first provides Executive with written notice of such conduct and thirty (30) days
to cure such conduct, if curable; (vi) any other intentional misconduct by Executive adversely materially affecting the business or affairs
of the Company or any of its affiliates. 

(e)         
 Definition of “Good Reason”. As used herein, “Good Reason” shall mean any of the following occurrences
without Executive’s consent: (i) relocation of Executive’s principal business location to
a location more than fifty (50) miles from Executive’s then-current business location; (ii) a material diminution in Executive’s
duties, authority or responsibilities; (iii) a material reduction in Executive’s Base Salary (other than an across the board reduction
applying to other executives of the Company); or (iv) willful and material breach by the Company of its covenants and/or obligations under
this Agreement; provided that, in each of the foregoing clauses (i) through (iv) (A) Executive provides the Company with written notice
that Executive intends to terminate Executive’s employment hereunder for one of the grounds set forth in this Section 2(e) within
thirty (30) days of such ground occurring, (B) if such ground is capable of being cured, the Company has failed to cure such ground within
a period of thirty (30) days from the date of such written notice, and (C) Executive terminates by written notice Executive’s employment
within sixty-five (65) days from the date that Executive provides the notice contemplated by clause (A) of this Section 2(e). For purposes
of clarification, the above-listed conditions shall apply separately to each occurrence of Good Reason, and failure to adhere to such
conditions in the event of Good Reason shall not disqualify Executive from asserting Good Reason for any subsequent occurrence of Good
Reason. For purposes of this Agreement, “Good Reason” shall be interpreted in a manner, and limited to the extent necessary,
so that it shall not cause adverse tax consequences for either party with respect to Section 409A (“Section 409A”) of the
Internal Revenue Code of 1986, as amended, and any successor statute, regulation and guidance thereto (the “Code”).

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3.            Compensation.

(a)            Base
Salary. The Company shall pay Executive a base salary (the “Base Salary”) at the annual rate of Six Hundred Thousand
Dollars ($600,000.00). The Base Salary shall be payable in substantially equal periodic installments in accordance with the Company’s
payroll practices as in effect from time to time. The Company shall deduct from each such installment all amounts required to be deducted
or withheld under applicable law or under any employee benefit plan in which Executive participates. The Board or an appropriate committee
thereof shall, on an annual basis, review the Base Salary, which may be adjusted at the Company’s discretion. The amount of any
salary increase will be determined by the Board in its discretion.

(b)            Annual Performance Bonus. Executive shall be eligible to receive an annual cash bonus (the “Annual Performance Bonus”)
pursuant to the Company’s bonus plan offered to Company executives. With the exceptions for calendar years 2021 and 2022 provided
below, the Annual Performance Bonus potential shall be in an amount no greater than eighty percent (80%) of Executive’s Base
Salary and shall be based on factors such as Executive’s work performance, Company financial performance
and business forecasts, the Company’s determination of Executive’s achievement of milestones for the applicable year as defined
by the Board or Compensation Committee, and economic conditions generally. The amount of the Annual Performance Bonus shall be determined
by the Board or Compensation Committee in its sole discretion, and shall be paid to Executive no later than March 15th of the
calendar year immediately following the calendar year in which it was earned. With the exception of the Annual Performance Bonus for calendar
year 2022 (the “2022 Bonus”), Executive must be employed by the Company on the date that the Annual Performance Bonus is paid
to Executive in order to be eligible for, and to be deemed as having earned, such Annual Performance Bonus. The Company shall deduct from
the Annual Performance Bonus all amounts required to be deducted or withheld under applicable law or under any employee benefit plan in
which Executive participates. Executive acknowledges and agrees that he shall not be entitled to any Annual Performance Bonus for calendar
year 2021. For the 2022 Bonus only, if Executive is employed by the Company as of December 31, 2022, , with advance approval from the
Board, the Company agrees to pay Executive an Annual Performance Bonus in the amount of Four Hundred Eighty Thousand Dollars ($480,000.00),
less applicable taxes and withholdings.

(c)            
Equity. As a material inducement to the Executive joining the Company subject to the approval of the Board, Executive shall
be granted a one-time equity award (the “Initial Award”) with an aggregate grant date fair value of $1.8M. The Initial Award
is intended as an inducement award under NYSE Rule 303A.08 and will consist of 30% restricted stock units (the “RSU”) and
70% stock options (the “Stock Option”). The number of shares underlying the RSU will be determined by dividing (A) $540,000
by (B) the closing price of the Common Stock on the New York Stock Exchange on the date of the grant (rounded down to the nearest whole
share) and the number of shares underlying the Stock Option will be determined based on an aggregate grant date fair value of $1.26M
based on a Black Scholes valuation as of the date of the grant (rounded to the nearest whole share). The Stock Option will be a non-qualified
stock option and will have a closing price of the Common Stock on the NYSE on the date of grant. The
RSU and Stock Option shall be evidenced in an RSU agreement and option agreement to be provided by the Company. As more fully explained
in the RSU agreement or stock option agreement, the RSU will vest 25% on the first anniversary of the Commencement Date with the remainder
vesting in equal quarterly installments over the following three years and the Stock Option will vest 25% on the first anniversary
of the Commencement Date with the remainder vesting in equal monthly installments over the next three years, provided that Executive
remains employed by Company on each vesting date (except as otherwise provided in such agreement). Commencing with the 2022 performance
year and thereafter, Executive will be eligible for an annual equity award of up to 200% of Base Salary subject to such time and performance
vesting as determined by the Board or the Compensation Committee at the time of the grant. The amount of any annual equity award in calendar
year 2022 and thereafter, if any, shall be determined in the sole discretion of the Board or the Compensation Committee following consideration
of Company financial performance and business forecasts, EPS, stock prices, and other factors as may
be determined by the Board or the Compensation Committee.

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(d)          
Signing Bonus.  Executive shall be entitled to a signing bonus in the amount of Two Hundred Fifty Thousand Dollars ($250,000.00). 
This signing bonus will be paid in one lump sum on the first regularly scheduled pay date after the Commencement Date.  The signing
bonus is taxable, and all regular taxes and applicable deductions will be withheld. In the event Executive is terminated by the Company
for Cause pursuant to Section 2(b)(ii)(B) or if Executive voluntarily resigns from employment with the Company pursuant to Section 2(b)(iii)(B)
within twelve (12) months of the Commencement Date, Executive will be responsible for reimbursing the Company for the entire signing bonus. 
By signing this Agreement, Executive expressly authorizes the Company to withhold the amount of the signing bonus ($250,000.00) from any
severance received pursuant to Section 4(e)(i) or 4(f)(i) below or from any other final pay.

(e)            Vacation. Executive shall be eligible to accrue up to thirty (30) days of vacation per year, to be scheduled to minimize
disruption to the Company’s operations. Any accrued, unused vacation time will not carry over to a subsequent calendar year and
will not be paid to Executive upon termination of employment, unless otherwise required by applicable law.

(f)             Fringe
Benefits. Executive shall be entitled to participate in all benefit/welfare plans and fringe benefits provided to Company senior
executives. Executive understands that, except when prohibited by applicable law, the Company’s benefit plans and fringe benefits
may be amended by the Company from time to time in its sole discretion. The terms of any such benefits shall be governed by the applicable
plan documents and Company policies in effect from time to time (and, to the extent this Agreement conflicts with such terms, the terms
of such benefit plans shall govern).

(g)            Reimbursement
of Expenses. The Company shall reimburse Executive for all ordinary and reasonable out-of-pocket business expenses incurred by Executive
in furtherance of the Company’s business in accordance with the Company’s policies with respect thereto as in effect from
time to time. Executive must submit any request for reimbursement no later than ninety (90) days following the date that such business
expense is incurred. All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of
Section 409A including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive’s
lifetime (or during a shorter period of time specified in this Agreement); (ii) the amount of expenses eligible for reimbursement during
a calendar year may not affect the expenses eligible for reimbursement in any other calendar year; (iii) the reimbursement of an eligible
expense shall be made no later than the last day of the calendar year following the year in which the expense is incurred; and (iv) the
right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

(h)            Indemnification.
Executive shall be entitled to coverage under the Company’s Directors’ and Officers’ (“D&O”) insurance
policies that it may hold now or in the future to the same extent and in the same manner (i.e., subject to the same terms and conditions)
to which the Company’s other executive officers are entitled to coverage under any of the Company’s D&O insurance policies.

(i)             Forfeiture/Clawback. All compensation shall be subject to any forfeiture or clawback policy established by the Company generally
for senior executives from time to time and any other such policy required by applicable law.

    5

     

    

4.           
Payments Upon Termination.

(a)            Definition of Accrued Obligations. For purposes of this Agreement, “Accrued Obligations” means: (i) the portion of
Executive’s Base Salary that has accrued prior to any termination of Executive’s employment with Company and has not yet been
paid; and (ii) the amount of any expenses properly incurred by Executive on behalf of the Company prior to any such termination and not
yet reimbursed. Executive’s entitlement to any other compensation or benefit under any Company plan shall be governed by and determined
in accordance with the terms of such plans, except as otherwise specified in this Agreement.

(b)           Termination
by the Company for Cause. If Executive’s employment hereunder is terminated by the Company for Cause, then the Company shall
pay the Accrued Obligations to Executive within the time provided by law for terminated employees and the Company shall have no further
obligations to Executive under this Agreement.

(c)            Termination by Executive Without Good Reason. If Executive’s employment hereunder is terminated by Executive without Good
Reason, within the time period provided by law, then the Company shall pay the Accrued Obligations and the 2022 Bonus, if termination
pursuant to this subsection occurs following December 31, 2022 and the 2022 Bonus is unpaid (the “Accrued Bonus”). The Company
shall have no further obligations to Executive under this Agreement.

(d)            Termination
as a Result of Executive’s Disability or Death. If Executive’s employment hereunder terminates as a result of Executive’s
Disability or death, the Company shall pay to Executive within the time provided by law (i) the Accrued Obligations; and (ii) a pro-rata
portion of Executive’s Annual Performance Bonus for the calendar year in which such termination occurs based on the period worked
by Executive during such calendar year prior to termination, with such payment to be made in on one lump sum in accordance with Company’s
normal payroll practices and schedules, less all customary and required taxes and employment-related deductions. In addition, on
the date of termination of Executive’s employment under this subsection, Executive shall become fully vested in any and all equity
awards with time-based vesting that would have vested during the twelve (12) month period following
the termination date. The Company shall have no further obligations with respect to any benefit or compensation under this Agreement
to Executive hereunder.

(e)           
Termination by the Company Without Cause or by Executive For Good Reason. In the event that Executive’s employment is terminated
by action of the Company without Cause, or Executive terminates Executive’s employment for Good Reason, then, in addition to the
Accrued Obligations and any Accrued Bonus, Executive shall receive the following, subject to the terms and conditions described in Section
4(g) (including Executive’s execution of the Release (as defined herein)):

    6

     

    

(i)            Severance Payments. Continuation of payments in an amount equal to Executive’s then-current Base Salary for a twelve
(12) month period, less all customary and required taxes and employment-related deductions, in accordance
with the Company’s normal payroll practices (provided such payments shall be made at least monthly) (the “Severance Payments”).

(ii)           Pro-Rata
Bonus. A pro-rata portion of Executive’s Annual Performance Bonus for the calendar year in which such termination occurs
based on the period worked by Executive during such calendar year prior to termination, less all customary and required taxes and employment-related
deductions.

(iii)          Equity Acceleration. On the date of termination of Executive’s employment, Executive shall become fully vested in any and
all equity awards with time-based vesting that would have vested during the twelve (12) month period
following the termination date. 

(iv)         
Benefits Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under the Consolidated Omnibus
Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall continue to provide Executive medical insurance
coverage to the same extent that such insurance continues to be provided to similarly situated executives at the time of Executive’s
termination with the cost of the regular premium for such benefits shared in the same relative proportion by the Company and Executive
as in effect on the last day of employment (the “COBRA Payment”), until the earlier to occur of: (A) twelve (12) months
following Executive’s termination date, or (B) the date Executive becomes eligible for medical benefits with another employer. Notwithstanding
the foregoing, if Executive’s COBRA Payment would cause the applicable group health plan to be discriminatory and, therefore, result
in adverse tax consequences to Executive, the Company shall, in lieu of the COBRA Payment, provide Executive with an equivalent monthly
cash payment, minus deduction of all amounts required to be deducted or withheld under applicable law, for any period of time Executive
is eligible to receive the COBRA Payment. Executive shall bear full responsibility for applying for COBRA continuation coverage and the
Company shall have no obligation to provide Executive such coverage if Executive fails to elect COBRA benefits in a timely fashion. 

Payment of the above described
severance payments and benefits are expressly conditioned on Executive’s execution without revocation of the Release and return
of Company property under Section 6. The Company will commence payment of the Severance Payments and the COBRA Payment on the first payroll
date following the date on which the Release required by Section 4(g) becomes effective and non-revocable, provided, that if the 60 day
period during which the Release is required to become enforceable and irrevocable crosses a tax year, then the payments will be delayed
until such subsequent calendar year; provided further that if such payments are delayed until such subsequent year, the first such payment
shall be a lump sum in an amount equal to the payments that would have come due since Executive’s separation from service.

(f)            Termination
by the Company Without Cause or by Executive For Good Reason Following a Change of Control. In the event that a Change of Control
of the Company (as defined below) occurs and (a) within a period of eighteen (18) months following the Change of Control, or (b) within
a period of ninety (90) days preceding the Change of Control if the termination is related to the Change of Control, Executive’s
employment is terminated without Cause, or Executive terminates Executive’s employment for Good Reason, then, in addition to the
Accrued Obligations and any Accrued Bonus, Executive shall receive the following, subject to the terms and conditions described in Section
4(g) (including Executive’s execution of the Release):

    7

     

    

(i)            Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of eighteen (18) months
of Executive’s then-current Base Salary, less all customary and required taxes and employment-related deductions (the “Lump
Sum Severance Amount”).

(ii)           Pro-Rata Bonus. A pro-rata portion of Executive’s Annual Performance Bonus for the calendar year in which such termination
occurs based on the period worked by Executive during such calendar year prior to termination, less all customary and required taxes and
employment-related deductions.

(iii)          Equity Acceleration. On the date of termination of Executive’s employment, Executive shall become fully vested in any and
all equity awards with time-based vesting outstanding as of the date of Executive’s termination.

(iv)          Benefit Payments. Upon completion of appropriate forms and subject to applicable terms and conditions under COBRA, the Company
shall continue to provide Executive medical insurance coverage to the same extent that such insurance continues to be provided to similarly
situated executives at the time of Executive’s termination with the cost of the regular premium for such benefits shared in the
same relative proportion by the Company and Executive as in effect on the last day of employment, until the earlier to occur of: (A) eighteen
(18) months following Executive’s termination date, or (B) the date Executive becomes eligible for
medical benefits with another employer. Notwithstanding the foregoing, if Executive’s COBRA Payment would cause the applicable group
health plan to be discriminatory and, therefore, result in adverse tax consequences to Executive, the Company shall, in lieu of the COBRA
Payment, provide Executive with an equivalent monthly cash payment, minus deduction of all amounts required to be deducted or withheld
under applicable law, for any period of time Executive is eligible to receive the COBRA Payment. Executive shall bear full responsibility
for applying for COBRA continuation coverage and the Company shall have no obligation to provide Executive such coverage if Executive
fails to elect COBRA benefits in a timely fashion. 

Payment of the above described
severance payments and benefits are expressly conditioned on Executive’s execution without revocation of the Release and return
of Company property under Section 6. In the event that Executive is eligible for the severance payments and benefits under this Section
4(f), Executive shall not be eligible for any of the severance payments and benefits as provided in Section 4(e). The Company will pay
the Lump Sum Severance Amount and will commence payment of the COBRA Payment on the first payroll date following the date on which the
Release required by Section 4(g) becomes effective and non-revocable, provided, that if the time period during which the Release is required
to become enforceable and irrevocable crosses a tax year, then the payments will delayed until such subsequent calendar year; provided
further that if such payments are delayed until such subsequent year, the first such payment shall be a lump sum in an amount equal to
the payments that would have come due since Executive’s separation from service.

    8

     

    

As used herein, a “Change
of Control” shall mean the occurrence of any of the following events: (i) Ownership. Any “Person” (as such term is used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “Beneficial Owner” (as defined
in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total
voting power represented by the Company’s then outstanding voting securities (excluding for this purpose any such voting securities
held by the Company, or any affiliate, parent or subsidiary of the Company, or by any employee benefit plan of the Company) pursuant to
a transaction or a series of related transactions; or (ii) Merger/Sale of Assets. (A) A merger or consolidation of the Company whether
or not approved by the Board, other than a merger or consolidation which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or the parent of such corporation) at least fifty percent (50%) of the total voting power represented by the voting securities
of the Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after such merger or
consolidation; (B) or the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets;
or (iii) Change in Board Composition. A change in the composition of the Board, as a result of which fewer than a majority of the directors
are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the
date of this Agreement, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority
of the Incumbent Directors, or by a committee of the Board made up of at least a majority of the Incumbent Directors, at the time of such
election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened
proxy contest relating to the election of directors).

(g)           
Execution of Severance Agreement and Release of Claims. The Company shall not be obligated to pay Executive any of the severance
payments or benefits described in this Section 4 unless and until Executive has executed (without revocation) a severance agreement and
release of claims as described below (the “Release”). The Release shall contain reasonable and customary provisions including
a general release of claims against the Company and its affiliated entities and each of their officers, directors and employees as well
as provisions concerning non-disparagement, non-competition, non-solicitation, confidentiality, cooperation and the like. The Release
must be provided to Executive not later than fifteen (15) days following the effective date of termination of Executive’s employment
by the Company and executed by Executive and returned to the Company within sixty (60) days after such effective date. If Executive fails
or refuses to return the Release within such 60-day period, Executive’s severance payments and benefits to be paid hereunder shall
be forfeited.

(h)          
No Other Payments or Benefits Owing. Except as expressly set forth herein, the payments and benefits set forth in this Section
4: (a) shall be the sole amounts owing to Executive upon termination of Executive’s employment for the reasons set forth above,
and Executive shall not be eligible for any other payments or other forms of compensation or benefits; (b) shall be the sole remedy,
if any, available to Executive in the event that Executive brings any claim against the Company relating to the termination of Executive’s
employment under this Agreement; and (c) shall not be subject to set-off by the Company or any obligation on the part of Executive to
mitigate or to offset compensation earned by Executive in other pursuits after termination of employment, other than as specified herein
with respect medical benefits provided by another employer.

    9

     

    

5.             Confidentiality; Prohibited Competition and Solicitation; Inventions Assignment. In light of the competitive and proprietary aspects
of the business of the Company, and as a condition of employment hereunder, Executive agrees to execute and abide by the Company’s
Employee Covenants, attached as Exhibit A hereto.

6.             Property and Records. Upon the termination of Executive’s employment hereunder for any reason or for no reason, or if the Company
otherwise requests, Executive shall: (a) return to the Company all tangible business information and copies thereof (regardless how
such confidential information or copies are maintained), and (b) deliver to the Company any property of the Company which may be in Executive’s
possession, including, but not limited to, devices, smart phones, laptops, cell phones (the foregoing, “electronic devices”),
products, materials, memoranda, notes, records, reports or other documents or photocopies of the same. Executive may retain copies of
any exclusively personal data contained in or on the Company-owned electronic devices returned to the Company pursuant to the foregoing.
The foregoing notwithstanding, Executive understands and agrees that the Company property belongs exclusively to the Company, it should
be used for Company business, and Executive has no reasonable expectation of privacy on any Company property or with respect to any information
stored thereon.

7.            
Cooperation. During and after Executive’s employment, Executive shall fully cooperate with the Company to the extent reasonable
in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of
the Company (other than claims directly or indirectly against Executive) which relate to events or occurrences that transpired while Executive
was employed by the Company. Executive’s cooperation in connection with such claims or actions shall include, but not be limited
to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually
convenient times. During and after Executive’s employment, Executive also shall fully cooperate with the Company to the extent reasonable
in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review
relates to events or occurrences that transpired while Executive was employed by the Company. The Company shall reimburse Executive for
any reasonable out-of-pocket expenses incurred in connection with Executive’s performance of obligations pursuant to this section.

8.             Code Sections 409A and 280G. 

(a)          In the event that the payments or benefits set forth in Section 4 of this Agreement constitute “non-qualified deferred compensation”
subject to Section 409A, then the following conditions apply to such payments or benefits:

(i)            Any
termination of Executive’s employment triggering payment of benefits under Section 4 must constitute a “separation from service”
under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) before distribution of such benefits can commence. To the
extent that the termination of Executive’s employment does not constitute a separation of service under Section 409A(a)(2)(A)(i)
of the Code and Treas. Reg. §1.409A-1(h) (as the result of further services that are reasonably anticipated to be provided by Executive
to the Company at the time Executive’s employment terminates), any such payments under Section 4 that constitute deferred compensation
under Section 409A shall be delayed until after the date of a subsequent event constituting a separation of service under Section 409A(a)(2)(A)(i)
of the Code and Treas. Reg. §1.409A-1(h). For purposes of clarification, this Section 8(a) shall not cause any forfeiture of benefits
on Executive’s part, but shall only act as a delay until such time as a “separation from service” occurs.

    10

     

    

(ii)           Notwithstanding any other provision with respect to the timing of payments under Section 4 if, at the time of Executive’s termination,
Executive is deemed to be a “specified employee” of the Company (within the meaning of Section 409A(a)(2)(B)(i) of the Code),
then limited only to the extent necessary to comply with the requirements of Section 409A, any payments to which Executive may become
entitled under Section 4 which are subject to Section 409A (and not otherwise exempt from its application) shall be withheld until the
first (1st) business day of the seventh (7th) month following the termination of Executive’s employment, at
which time Executive shall be paid an aggregate amount equal to the accumulated, but unpaid, payments otherwise due to Executive under
the terms of Section 4.

(b)           
It is intended that each installment of the payments and benefits provided under Section 4 of this Agreement shall be treated as a separate
“payment” for purposes of Section 409A. Neither the Company nor Executive shall have the right to accelerate or defer the
delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A.

(c)           
Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted and at all times administered
in a manner that avoids the inclusion of compensation in income under Section 409A, or the payment of increased taxes, excise taxes or
other penalties under Section 409A. The parties intend this Agreement to be in compliance with Section 409A. Executive acknowledges and
agrees that the Company does not guarantee the tax treatment or tax consequences associated with any payment or benefit arising under
this Agreement, including but not limited to consequences related to Section 409A.

(d)            If any payment or benefit Executive would receive under this Agreement, when combined with any other payment or benefit Executive receives
pursuant to a Change of Control (for purposes of this section, a “Payment”) would: (i) constitute a “parachute payment”
within the meaning of Section 280G the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then such Payment shall be either: (A) the full amount of such Payment; or (B) such lesser amount
(with cash payments being reduced before stock option compensation) as would result in no portion of the Payment being subject to the
Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employments taxes, income
taxes, and the Excise Tax, results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding
that all or some portion of the Payment may be subject to the Excise Tax.

    11

     

    

9.            General.

(a)            Notices.
Except as otherwise specifically provided herein, any notice required or permitted by this Agreement shall be in writing and shall be
delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier
upon written verification of receipt; (iii) by telecopy or electronic mail transmission provided acknowledgment of receipt of electronic
transmission is provided; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt.

Notices to Executive shall be sent to the last known address
in the Company’s records or such other address as Executive may specify in writing.

Notices to the Company shall be sent to:

Chief Legal Officer

XL Fleet Corp.

145 Newton Street

Brighton, MA 02315

Attn: James Berklas

 

or to such other the Company representative
as the Company may specify in writing, with a copy to:

Mintz, Levin, Cohn,
Ferris, Glovsky and Popeo, P.C.

One Financial Center

Boston, MA 02111

Attn: Thomas Burton,
Esq.

 

(b)            Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed
by the parties hereto.

(c)            Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not
similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given and shall
not constitute a continuing waiver or consent.

(d)        
   Assignment. The Company may assign its rights and obligations hereunder to any person or entity that
succeeds to all or substantially all of the Company’s business or that aspect of the Company’s business in which
Executive is principally involved. Executive may not assign Executive’s rights and obligations under this Agreement without
the prior written consent of the Company.

(e)            Governing
Law/Dispute Resolution. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with
and governed by the law of the State of Delaware without giving effect to the conflict of law principles thereof. Any legal action or
proceeding with respect to this Agreement shall be brought in the courts of the State of Michigan or
of the United States of America for the District of Michigan. By execution and delivery of this
Agreement, each of the parties hereto accepts for itself and in respect of its property, generally and unconditionally, the non-exclusive
jurisdiction of the aforesaid courts.

    12

     

    

(f)             Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall
in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

(g)            Entire Agreement. This Agreement, together with the other agreements specifically referenced herein, embodies the entire agreement
and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements
and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not
expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this
Agreement.

(h)          
Counterparts. This Agreement may be executed in two or more counterparts, and by different parties hereto on separate counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. For all purposes an
electronic signature shall be treated as an original.

 

[SIGNATURE PAGE FOLLOWS]

    13

     

    

 

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

 

	
     

     

     
	
    XL FLEET CORP.

     

     

    By: _____________________________

    Name:

    Title:

	
     

     

     
	
     

     

    EXECUTIVE

     

     

    By: _____________________________

    Name: Eric Tech

	 	 

 

    14

     

    

 

Exhibit A

 

 

 

 

 

 

    15

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