Document:

Exhibit 10.15

    

     

      

    
      
        INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT THE COMPANY TREATS AS PRIVATE OR
          CONFIDENTIAL.

      

      

      

      Agreement

      

      

      between

      

      

      	(1)	
              Tropos Technologies Inc., a corporation under the laws of the United States of America, registered in California under EIN [***], with business address at 16890 Church Street, Building 1, Morgan
                Hill, CA 95037, United States of America (“Tropos”);

            

      

      

      and

      

      

      	(2)	
              Mosolf SE & Co. KG, registered in the commercial register of the local court of Stuttgart under no. HRA 230905, with business address at Dettinger Str. 157-159, 73230 Kirchheim/Teck (“Mosolf”).

            

      

      

      and

      

      

      	(3)	
              Cenntro Automotive Ltd. (“Cenntro”) and/or Zhejiang Simachinery Co. Ltd. (“Zhejiang”, a 100% subsidiary of Cenntro)

            

      

      

      and

      

      

      	(4)	
              TROPOS MOTORS EUROPE GmbH (TME) a 100% subsidiary of Mosolf

            

      

      

      	

            	1.	
              Preamble

            

      

      

      	

            	(A)	
              Cenntro is an innovative start-up in the logistics sector and the owner of the intellectual property, tooling, pro- duction resources, Brand for the Metro I.  The Metro products are electric compact utility vehicles.  The Metro is so far
                the base for the ABLE and ABLE XR of Tropos.  The Metro products are sold worldwide to distributors.  Zhejiang is producer of certain parts for the Metro, while the ABLE and ABLE XR and the new proprietary ABLE XT are produced exclusively
                for Tropos by Zhejiang as semi- or completely-knocked down sets for chassis and/or outfit packages (“Sets”).

            

      

      

      	

            	(B)	
              Tropos focuses on street-legal electric compact utility vehicles (“eCUVs”), especially utility electric low speed vehicles (e-LSVs) and trucks designed for corporate, fleet, first-responder,
                agriculture, last-mile delivery and construction applications.  The Tropos Motors ABLETM is a line of durable, versatile and available eCUVs, currently consisting of the standard ABLE ST (“ABLE ST”)
                and the extended range ABLE XR (“ABLE XR”) and the new proprietary ABLE XT (the ABLE ST, the ABLE XR, and the new ABLE XT models (one LI battery “XR1” resp.  two LI batteries “XT2”‘) together with any
                successor or new models: the “ABLE Models”).

            

      

      

      
        
          

      

      
      	

            	(C)	
              Tropos entered into several agreements with Cenntro Automotive Ltd. (“Cenntro”) or with Zhejiang Simachinery Co. Ltd. (“Zhejiang”) (Cenntro and Zhejiang together “Tropos’
                Suppliers”) regarding the manufacturing and supply of the parts, components and Sets of the ABLE models.  As of today, the ABLE Models are marketed and sold by Tropos within the territory of North
                America, United Kingdom (via a third-party distributor) and of Israel (via a third-party distributor).

            

      

      

      	

            	(D)	
              Mosolf is a system service provider for the automobile industry in Europe.  The range of services includes tailor- made logistics, technical and service solutions.  These are provided using a network of business sites across Europe and a
                multi-modal fleet that combines different means of transport and covers the complete value-added chain for automobile logistics.

            

      

      

      	

            	(E)	
              TME imports, assembles and distributes the ABLE Models on a worldwide basis excluding China, North America, the United Kingdom and Israel (together the “TME Territory”).  Along with the vehicles,
                TME offers its customers a unique ECO-system for the ABLE Models.

            

      

      

      	

            	(F)	
              Mosolf and/or TME and Tropos agreed

            

      

      

      	

            	−	
              that Tropos exclusively supplies Mosolf and/or TME with the parts, components and Sets of the ABLE Models within the TME Territory; and

            

      

      

      	

            	−	
              that Mosolf and/or TME is entitled to exclusively distribute and service the ABLE Models in the Territory; and

            

      

      

      	

            	−	
              that the Parties cooperate in extending and improving the current ABLE Models.

            

      

      

      	

            	(G)	
              Cenntro homologated its Metro I versions for sale and use in the EU and subsequently allowed and assisted Tropos in obtaining its certifications for its ABLE ST and XR products based on Cenntro’s Metro certifications.  Tropos paid
                Cenntro for the use of its test results and hired Cenntro’s certification consultants Hangzhou Saite Certification Service and IDIADA to complete Tropos’ homologation for the ABLE ST and ABLE XR.

            

      

      

      	

            	(H)	
              After the above certifications were complete and initial orders of ABLE ST and XR vehicles were ordered by Tropos and received by TME, it was discovered that the XR models did not meet the specification requirements of the EU’s
                Conformity of Production (COP) and therefore cannot be legally sold to customers or operate on public streets in the EU.  The modification of the XR to meet the COP requirements cannot be accomplished without a complete redesign of the
                vehicle.

            

      

      

      	

            	(I)	
              To address this issue and others Tropos has developed a proprietary version of the ABLE that uses components of the ST and XR models yet conforms to the weight and dimensional requirements of the L7e-CU classification (new model ABLE
                XT).  Tropos and Cenntro have executed a proprietary manufacturing agreement for this version of the ABLE vehicle exclusively for Tropos.

            

      

      

      
        2

        
          

      

      Therefore, Cenntro, Zhejiang, Tropos, Mosolf and TME (together the “Parties”, each a “Party”) agree to enter into the following agreement (“Agreement”):

      

      

      	1.	
              Tropos and TME still desire to sell the XR in Europe as soon as possible, so Cenntro will homologate the Tropos ABLE XR2 as well as the Metro I Lithium versions at its own expense to the EC N1 Small Series Type Approval (SSTA N1) which
                allows [***] vehicles of a specific type to be produced by a manufacturer per year, to be completed no later than August 31, 2020.  The Tropos ABLE vehicles will have certification priority over the Metro I as the need for these vehicles is
                critical to the continuing business relationship of the three parties.  In the event that a double homologation for both (Metro I and ABLE models) is not possible, Cenntro undertakes to withdraw the application for the Metro I model
                immediately and will continue with the certification of the Tropos XR2 only.

            

      

      

      	2.	
              In the Case Cenntro gets a SSTA NI for the Tropos ABLE XR2 models Cenntro will send a written notice to Tropos.  The parties agree that the purchase price for this model shall be fixed at - ABLE XR2 $[***] (see Exhibit A)

            

      

      

      	3.	
              In the case Cenntro gets a SSTA NI also for the Metro I lithium trucks, Cenntro will send a written notice to Tropos.  Cenntro hereby grants Tropos [***] on its allocation of [***] Metro lithium trucks with SSTA N1 at a fixed price of
                $[***].  Before a sale of all or single Metro lithium trucks with SSTA N1 to third parties, Cenntro must ask Tropos in writing (email/telefax) whether Tropos will exercise its right of first refusal.  Tropos in turn must declare its
                intention to do so within 4 weeks in writing (email/telefax).

            

      

      

      	4.	
              Cenntro and/or Zhejiang hereby declares to immediately ramp up the exclusive production of the new Tropos ABLE XT1 and XT2 for Tropos, which Tropos plans to sell to TME.  The first delivery of the ABLE XT1 and XT2 to TME in Germany must
                be no later than second week of July 2020.  The purchase price for these models is determined as follows:

            

      

      

      	

            	−	
              [***]

            

      

      

      	

            	−	
              [***]

            

      

      

      In the case the Fixed Delivery Date is not reached, the above agreed Fixed Purchase Prices shall be reduced by [***]%,. In the event, that delivery to Germany does not take place until second week of July
        2020 or later, the agreed Fixed Purchase Prices shall be reduced by [***]%.

      

      

      	5.	
              Payment terms will be as follows:

            

      

      

      	

            	a.	
              Remainder of the first [***] order from 2019:

            

      

      

      	

            	i.	
              
                [***]% deposit already placed

              

            

       

      

      
        	

              	ii.	
                
                  The balance of [***]% to be paid after delivery at place Herne and inspection in Herne

                

              

         

        

        
          	

                	iii.	
                  
                    [***]% rebate in currency value not vehicles for completing the order

                  

                

           

          

        

      

      	

            	b.	
              Subsequent orders to be paid as follows

            

      

      

      	

            	i.	
              
                [***]% deposit upon ordering by wire

              

            

      

      

      
        	

              	ii.	
                
                  
                    [***]% upon completion of material inspection and release for shipment by Letter of Credit

                  

                

              

      

      

      

      
        	

              	iii.	
                
                  
                    [***]% upon receipt delivery at Place in Herne and acceptance by Letter of Credit

                  

                

              

      

      

      

      	6.	
              This Agreement shall exclusively be governed by the substantive laws of the Federal Republic of Germany, with the conflict-of-laws rules being excluded.  The parties agree on Frankfurt am Main as place of jurisdiction.

            

      

        
          3

          
            

        

      

      This Agreement is executed on June 23, 2020.

       

      

      
        	Tropos Technologies Inc.	
                 

              	Cenntro Automotive Group Limited
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	
                 

              
	/s/ John Bautista	
                 

              	/s/ Peter Wang

              
	By: John Bautista	
                 

              	By: Peter Wang
	Title: CEO	
                 

              	Title: CEO
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	
                 

              
	
                Tropos Motors Europe GmbH/Mosolf SE & Co, KG

              
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	
                 

              
	/s/ Gregory Hancke	
                 

              	/s/ Dr. Jorg Mosolf

              
	By: Gregory Hancke	
                 

              	By: Dr. Jőrg Mosolf
	
                Title: CEO

              	
                 

              	
                Title: CEO

              

      

      

      

      
        4

        
          

      

      Metro Vehicles Quotation

      
        

        

        DATE          10-Jun-20

        QUOTE #          [***]

        	
                Vendor

              	
                Buyer

              
	
                Shengzhou Hengzhong Machinery Co., Ltd

                No. 368 Punan Avenue, Pukou Street

                Shengzhou City, Zheniang, China

                Contact: [***]

                Tel: [***]

                Email: [***]

              	
                Tropos Technologies, Inc.

                16260 Church Street Suite 140

                Morgan Hill, CA 95037

                Contact: [***]

                Tel: [***]

                Email: [***]

              
	
                Loading Port

              	
                Discharge Port

              	
                SHIP VIA

              	
                SHIPPING TERMS

              
	
                Ningbo, China

              	
                TBD

              	
                Sea

              	
                FOB (Ningbo)

              
	
                ITEM #

              	
                DESCRIPTION

              	
                QTY

              	
                UNIT PRICE (USD)

              	
                TOTAL (USD)

              
	
                ST – 80 km

                 Lead Acid SKD

              	
                Model: ST with Lead acid batteries. 100% electric four-wheel commercial vehicle, without bed, without box; without wheel assembly

                Payload: [***]kg

                Max Speed [***]km/h

                Driving Range: [***]km

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                ST – 80km

                 Lead Acid CBU

              	
                ST LEAD ACID MODEL SKD

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                ASSEMBLY CHARGE

              	
                1

              	
                US$[***]

              
	
                WHEEL ASSEMBLY

              	
                1

              	
                US$[***]

              
	
                XT1 – 120km

                 Lithium SKD

              	
                Model: XT1 with Lithium batteries. 100% electric four-wheel commercial vehicle, without bed, without box; without wheel assembly, without AC

                Payload: [***]kg

                Max Speed [***]km/h

                Driving Range: [***]km

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                XT1 – 120km

                 Lithium CBU

              	
                XT1 LITHIUM MODEL SKD

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                ASSEMBLY CHARGE

              	
                1

              	
                US$[***]

              
	
                WHEEL ASSEMBLY

              	
                1

              	
                US$[***]

              
	
                XT2 – 200km

                 Lithium SKD

              	
                Model: XT2 with Lithium batteries. 100% electric four-wheel commercial vehicle, without bed, without box; without wheel assembly, without AC

                Payload: [***]kg

                Max Speed [***]km/h

                Driving Range: [***]km

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                XT2 – 200km

                 

                Lithium CBU

              	
                XT2 LITHIUM MODEL SKD

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                ASSEMBLY CHARGE

              	
                1

              	
                US$[***]

              
	
                WHEEL ASSEMBLY

              	
                1

              	
                US$[***]

              
	
                XR1 – 120km

                 Lithium SKD

              	
                Model: XR1 with Lithium batteries. 100% electric four-wheel commercial vehicle, without bed, without box; without wheel assembly, without AC

                Payload: [***]kg

                Max Speed [***]km/h

                Driving Range: [***]km

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                XR2 – 200km

                 Lithium SKD

              	
                Model: XR2 with Lithium batteries. 100% electric four-wheel commercial vehicle, without bed, without box; without wheel assembly, without AC

                Payload: [***]kg

                Max Speed [***]km/h

                Driving Range: [***]km

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Options

              	
                Flatbed

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Pickup Bed

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Cargo Box A [***]mm*[***]mm*[***]mm CKD

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Cargo Box B [***]mm*[***]mm*[***]mm CKD

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Roll Up Cargo Box : [***]mm  Two sides roll-up door cargo box, 2 rails 1+ 4 door

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Air Conditioner

              	
                1

              	
                US$[***]

              	
                US$[***]

              
	
                Wheel Assembly

              	
                1

              	
                US$[***]

              	
                US$[***]

              

         

        

        
          5

          
            

        

        Notes:

        1. Above quotation are valid till 31st, December, 2022

        2. Lead time is 30 days with regular committed order forecast.

        3. Roll up box comes from a different vendor.

        Product Photo

        

        

        Truck Model: Flatbed Truck

        

        

        

        

        

        Truck Model: Pickup Bed Truck

        

        

        

        

        

        Truck Model: Cargobox Truck

        

        

        

        

        

        

      

    

  

  6Exhibit 10.16

    

    

    
      INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT THE COMPANY TREATS AS PRIVATE OR CONFIDENTIAL.

    

    

    

    Memorandum of Understanding

    

    

    Between

    

    

    Tropos Technologies, Inc.

    

    

    and

    

    

    Cenntro Automotive Group Ltd

    

    

    and

    

    

    Tropos Motors Europe GmbH

    

    

    This Memorandum of Understanding (MOU) sets forth the terms and understanding between Tropos Technologies, Inc. (Tropos), Cenntro Automotive Group Ltd (Cenntro) Tropos’ European Agent Tropos Motors Europe GmbH (TME) regarding production of
      Tropos•s ABLE (Cenntro’s Metro) vehicles both in CBU and SKD as well as the sourcing of constituent parts and components.

    

    

    Background

    Cooperation between the companies is required to remedy the following:

    

    

    
      	
              1.

            	
              Tropos is placing orders for a minimum of [***] more ABLE XT vehicle SKD kits that need to be produced and shipped to TME before November I 5th, 2020.  With current working capital requirement, Cenntro may not be able to fulfill the
                order.

            

    

    
      	
              2.

            	
              An additional order of [***] kits need to be shipped to TME between November 16th and December 31, 2020.

            

    

    

    

    Purpose

    This MOU will represent the willingness of Tropos and Cenntro to work together for the mutual benefit of both companies.

    

    

    The above goals will be accomplished by undertaking the following activities:

    

    

    
      	
              1.

            	
              Tropos will designate a third-party to handle some of the payments to Cenntro and other vendors.  This party, at Tropos’ discretion, will also be allowed a constant presence in the facilities of Cenntro and any other critical supplier to
                provide visibility into inventory.  production and inspection services on behalf of Tropos.

            

       

      

    

    
      
        

    

    
      	
              2.

            	
              Tropos will purchase battery packs and BMS modules directly from Cenntro’s supplier, Godsend until such a time that Cenntro’s financial condition improves to the point that they can take the purchasing of the batteries back.  Initially,
                these purchases will be for incomplete battery packs that will be subject to final assembly by TME.  The battery modules will be tested prior to shipment by Godsend.  The modules and battery pack housings will be shipped by ocean freight,
                and the remaining components will be shipped via air freight.  These batteries are to be paid for as follows:

            

    

    
      	
              a.

            	
              Tropos will place a [***]% deposit upon placing a purchase order with Godsend through Tropos’ designated agent.

            

    

    
      	
              b.

            	
              Upon receipt and acceptance of all necessary components, Tropos will pay Godsend the final [***]% for the order.

            

    

    
      	
              c.

            	
              Subsequent orders will require a [***]% deposit on ordering, with the final [***]% due upon delivery and acceptance by TME.

            

    

    
      	
              3.

            	
              Any parts not in adequate supply in Cenntro’s inventory to complete the required vehicles by the designated delivery dates will be purchased by Tropos directly from Cenntro’s suppliers.

            

    

    
      	
              4.

            	
              Tropos will purchase SKD kits from Cenntro that consist of all of the parts not being purchased directly from Cenntro’s vendors or an alternative supplier (gliders).  Payment for these purchases will be as previously agreed.  as follows:

            

    

    
      	
              a.

            	
              Tropos will place a [***]% deposit upon placing a purchase order with Cenntro.

            

    

    
      	
              b.

            	
              Tropos will pay [***]% upon departure of the order from Cenntro’s factory.

            

    

    
      	
              c.

            	
              Tropos will pay the final [***]% upon delivery at The TME factory in Herne, Germany.

            

    

    NOTE:  Cenntro may be shipping SKD kits missing some parts.  Cenntro will, at its own expense, send the missing parts via air freight to TME.

    
      	
              5.

            	
              In order to meet the designated delivery dates, Cenntro will ship all SKD kits by train and will pay for the cost difference over ocean shipping.

            

    

    
      	
              6.

            	
              Tropos will have the discretion to select an alternative supplier(s) other than Cenntro’s suppliers for any critical components if Cenntro’s supplier cannot meet the production schedule or if the supplier cannot meet Tropos’ quality or
                pricing criteria.

            

    

    
      	
              7.

            	
              TME/Tropos will cover the outstanding balance of the cost of the NIK certification of the Tropos ABLE XR.  This cost is $[***].  This expense will be paid back to TME/f Tropos by Cenntro in the form of a cash payment by November 30th
                2020 latest. The NIK homologation will exclusively be used for TMU and TME vehicles if TMU or TME takes all the allotments.  No other companies/Customers of Cenntro in the European market are distributed with Cenntro NIK vehicles.

            

    

    

    

    Reporting

    Both parties shall continually evaluate the effectiveness of the relationship and will be responsible for making the other party aware of issues as they arise.

    

    

    Duration

    This MOU is at-will and may be modified by the mutual consent of authorized officials from Tropos and Cenntro.  This MOU shall become effective upon the latest signature by the authorized officials from Tropos and Cenntro and shall remain in
      effect until modified or terminated by any by mutual agreement.  In the absence of mutual agreement by the authorized officials from Tropos and Cenntro.

    

    

    [Signature page to follow]

     

    

    
      
        

    

    Signed By:

    

    

    	
            /s/ John R. Bautista III

          	 	
            Date:

          	
            10/15/20

          
	
            John R. Bautista III, CEO

          	 	 	 
	
            Tropos Technologies

          	 	 	 
	 	 	 	 
	
            /s/ Peter Wang

          	 	
            Date:

          	
            10/14/2020

          
	
            Peter Wang, CEO

          	 	 	 
	
            Cenntro Automotive Group Ltd.

          	 	 	 
	 	 	 	 
	
            /s/ Gregory Hancke

          	 	
            Date:

          	
            10/16/2020

          
	
            Gregory Hancke, COO

          	 	 	 
	
            Tropos Motors Europe GmbH

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