Document:

Exhibit 10.1

 

Confidential

 

SHAREHOLDER UNDERTAKING

 

relating to

 

the Business Combination of

 

Next.e.GO Mobile SE, Aachen, Germany with Athena
Consumer Acquisition Corporation

 

    

     

    

 

Shareholder Undertaking relating to the Business
Combination of Next.e.GO Mobile SE, Aachen, Germany with Athena Consumer Acquisition Corporation

 

(the “Agreement”)

 

by and between

 

	(1)	Next.e.GO Mobile SE, a European Company (Societas Europaea) existing under the laws of the
European Union and the Federal Republic of Germany with registered seat in Aachen, Germany registered with the Commercial Register of
the Local Court of Aachen under HRB 24014, with business address at Lilienthalstraße 1, 52068 Aachen, Germany,

 

– hereinafter referred to as the “Company”
–

 

		(2)	the shareholders identified as such in
                                            Exhibit B,

 

– each hereinafter referred to as a “Shareholder”
and together the “Shareholders” –

 

and

 

		(3)	Athena Consumer Acquisition Corp., a Delaware corporation, with business address at 442 5th
Avenue, New York, New York 10018, United States of America,

 

– hereinafter referred to as “Athena”
–

 

The Company, the Shareholders and Athena, together with any transferee
permitted pursuant to this Agreement, are hereinafter collectively referred to as the “Parties” and each individually
as a “Party”.

 

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Table of Contents

 

	 	Page
	Preamble	5
	1.	Defined Terms	6
	2.  	Undertakings of the Shareholders	6
	3. 	Costs and Expenses	8
	4.   	No Assignment of Rights and Obligations	8
	5.  	Term of this Agreement; Termination of Prior Agreements	8
	6.  	Confidentiality	8
	7.  	Representations and Warranties; Liability	9
	8.  	Miscellaneous	10

 

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TABLE OF EXHIBITS

 

	Exhibit A	Business Combination Agreement
	Exhibit B	Shareholders
	Exhibit C	Convertible Loan Lenders
	Exhibit D	Form of Power of Attorney (German)
	Exhibit E	Form of Power of Attorney (Dutch)

 

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Preamble

 

	(A)	The Shareholders, all of whom are listed in Exhibit B, are the sole shareholders of the Company
as of the date of this Agreement.

 

	(B)	The Company intends to enter into a series of transactions (the “Business Combination”)
with, among other entities, Athena, an entity which is listed on the New York Stock Exchange (the “NYSE”), for purposes
of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination as further described
under recital (G) below.

 

	(C)	Concurrently with the execution of this Agreement, the Company will enter into a business combination
agreement with Athena and several other entities substantially in the form as attached hereto as Exhibit A (the “BCA”)
setting forth the terms of the Business Combination.

 

	(D)	The Company, as borrower, entered into convertible loan agreements in
                                 the total principal amount of EUR 39,085,000 between the Company and the lenders set out in Exhibit
                                 C (the lenders collectively referred to as, the “Convertible Loan Lenders” and
                                 the agreements together, the “Convertible Loan Agreements”).

 

	(E)	Pursuant to certain undertakings entered into by the Convertible Loan Lenders with the Company on or prior
to the date hereof, the Convertible Loan Lenders have agreed and undertaken, after signing of the BCA and at or prior closing of the Business
Combination, to convert the entire loan amount granted to the Company under the Convertible Loan Agreements (plus accrued interest) either
(i) into new common shares in the Company and participate in the Share Exchange (as defined below) or (ii) into new common shares in TopCo,
in the nominal amount of EUR 0.12 per share, by way of an issuance of TopCo Shares (as defined below) against contribution in kind of
all the claims arising from the Convertible Loan Agreements (the “Conversion”).

 

	(F)	The Company has entered into a Company Shareholder Agreement (as such term is defined in the BCA) with
the Shareholders. The Company Shareholder Agreement provides for certain transfer restrictions. Each of the Shareholders agrees that it
will not exercise any of such transfer restrictions. Such transfer restrictions also shall not continue to apply with regards to the TopCo
Shares (as defined below) following the consummation of the Transactions (as defined below) and the TopCo Shares are not subject to any
such transfer restrictions. This paragraph, for the avoidance of doubt, other than as set forth herein, does not limit the rights arising
from the Company Shareholder Agreement regarding the internal relationship between the parties of the Company Shareholder Agreement.

 

	(G)	Pursuant to the BCA, the Business Combination will, subject to the terms and conditions thereof (including
any amendments, supplements or other modifications thereto in accordance with its terms) and among other transactions contemplated thereby,
be implemented substantially as follows:

 

		(i)	each of the Shareholders will agree not to sell and/or transfer
to any third party any of their respective shares held in the Company (“Company Shares”) and will contribute their
Company Shares to a newly incorporated Dutch corporation in the legal form of a Dutch private limited liability company (besloten
vennootschap met beperkte aansprakelijkheid), which will as a subsequent step in the implementation of the Business Combination be
converted into a Dutch public limited liability company (naamloze vennootschap) (“TopCo”), in exchange for
ordinary shares in TopCo (“TopCo Shares”) (the “Share Exchange”);

 

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		(ii)	Athena will merge with a newly formed and wholly owned subsidiary
of TopCo, incorporated as a Delaware corporation, (“Merger Sub”) with Athena as the surviving company in the merger
(the “Surviving Company”) and, after giving effect to the merger: (i) the Surviving Company will be a wholly owned
subsidiary of TopCo, and (ii) each issued and outstanding share will be automatically cancelled and extinguished and converted into one
share of common stock, par value $0.0001 per share, of the Surviving Company (“Surviving Company Common Stock”),
and, immediately thereafter, (iii) each of the resulting shares of Surviving Company Common Stock will be automatically exchanged, through
an exchange agent, for one TopCo Share (the Conversion and the Business Combination including the aforementioned transactions under clauses
(i) and (ii) and the other transactions contemplated by the BCA, all as further described in detail in the BCA, collectively the “Transactions”);

 

		(iii)	after giving effect to the Business Combination, the warrants
in Athena held by the holders thereof will no longer be exercisable for shares in Athena but instead will be exercisable (subject to
the terms and conditions of such agreement, as amended) for TopCo Shares; and

 

(iv) on or about the “Closing
Date” (as such term is defined in the BCA), the TopCo Shares will be listed on the NYSE. The pre-money market capitalization
of the Company, on the basis of which the Transaction is to be consummated, is USD 800 million, which includes a 30 million share performance-based
earn-out, subject to, and upon the satisfaction of certain terms and conditions (the “Company Equity Value“).

 

	(H)	It is in the Shareholders’ interest that the Transactions, including for the avoidance of doubt
the Conversion, are implemented substantially as described above and in the BCA.

 

	(I)	In order to facilitate the implementation of the Transactions, substantially all of the Shareholders
                                 and Convertible Loan Lenders agree to duly execute and deliver promptly following signing of this Agreement (i) powers of attorney
                                 to Mr. Eelco Van Der Leij, substantially in the form attached hereto as Exhibit C and (ii) powers of attorney to NautaDutilh
                                 N.V., substantially in the form attached hereto as Exhibit D, permitting the respective authorized person (a) to execute and
                                 deliver any documents, agreements, approvals and or consent to which such Shareholder is a party to in connection with the
                                 Transaction (including, but not limited to, the Dutch Deeds of Issue or the German Share Transfer Deed, each such term as defined in
                                 the BCA), (b) to take all necessary or desirable actions on behalf of such Shareholder in connection with the transactions
                                 contemplated under and as set forth in the BCA and the Transaction Documents (as such term is defined in the BCA) to the extent
                                 applicable to such Shareholder (including, for the avoidance of doubt, the execution of this Agreement on each Shareholder’s
                                 behalf), (c) to convene and conduct shareholders’ meetings of the Company (including participating and exercising voting
                                 rights attached to the Company Shares) in accordance with the governing documents of the Company and for the purpose of obtaining
                                 the requisite consent for the Share Exchange and (d) to support the transactions contemplated by the BCA and the other Transaction
                                 Documents (including by way of restrictions on the sale, disposition or transfer of the Company Shares held by such
                                 Shareholder).

 

NOW, THEREFORE, the Parties, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and each intending to be legally bound, hereby enter into this Agreement and
agree as follows:

 

	1.	Defined Terms

 

In this Agreement, any capitalized terms
and any abbreviations used, but not defined in this Agreement, shall have the meaning as ascribed to them in the BCA as attached hereto.

 

	2.	Undertakings of the Shareholders

 

	2.1	Each Shareholder hereby irrevocably and unconditionally undertakes and agrees, subject to the restrictions
set forth in Sections 2.2 and the condition precedent (aufschiebende Bedingung) set forth in Section 2.3 below, vis-à-vis
TopCo (as a contract for benefit of a third party – Vertrag zugunsten Dritter) and Athena, and in each case to the extent
legally possible and permissible

 

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		2.1.1	to fully support the Transactions and to implement the Transactions contemplated under and as set forth
in the BCA and the other Transaction Documents in relation to which the Shareholders support or participation is required or appropriate,
and in particular, without limitation, to

 

		(a)	enter into, amend, restate and/or terminate any and all agreements as contemplated herein or therein and
required, necessary or appropriate in this context;

 

		(b)	make and accept any and all declarations (including approvals and waivers of any kind, including waiving
rights of first refusal, options and similar rights) which are necessary or appropriate in this context;

 

		(c)	if and when shareholders’ meetings of the Company or, following the Share Exchange, TopCo, are held,
appear at such meetings and cause the Company Shares or TopCo Shares, respectively, to be counted as present thereat for the purpose of
establishing a quorum;

 

		(d)	participate in shareholders’ meetings of the Company or, following the Share Exchange, TopCo, and
vote in favor of and pass any and all resolutions therein which are necessary or appropriate in this context, it being understood and
agreed that, in particular, without limitation, such Shareholder shall participate in, vote in favor of and pass any and all resolutions
with respect to the approval of the transfer of Company Shares to TopCo within the Share Exchange and the conversion of TopCo into a Dutch
public limited liability company (naamloze vennootschap) ́and an increase in authorized capital in the Company if necessary;
and

 

		(e)	do any and all other acts of any kind which are necessary or appropriate to implement the Business Combination,
when requested by the Company;

 

		2.1.2	to omit from taking any actions which (a) could be detrimental to, impede, interfere with, prohibit, delay,
postpone or otherwise adversely affect the implementation or completion of the transactions contemplated by and as set forth in the BCA
or the other Transaction Documents, including the Transactions, in particular, without limitation, (i) except for the Share Exchange,
not to sell, transfer, pledge, encumber, assign, hedge, swap, convert or otherwise dispose of (including by merger (including by conversion
into securities or other consideration), by tendering into any tender or exchange offer, by testamentary disposition, by operation of
Law or otherwise), either voluntarily or involuntarily, or establish or increase a put equivalent position or liquidate or decrease a
call equivalent position within the meaning of Section 16 of the Exchange Act with respect to (collectively, “Transfer”),
or enter into any Contract or option with respect to the Transfer of, any of the Company Shares or other Equity Securities of the Company
held by such Shareholder, whether acquired prior to, on or after the date hereof, (ii) not to exercise any transfer restriction under
the Company Shareholder Agreement, (iii) not to withdraw (or request withdrawal) from this Agreement and (iv) not to enter into any voting
agreement or voting trust, or grant a proxy or power of attorney, that is inconsistent with its obligations pursuant to this Agreement;
(b) could result in the failure of any condition set forth in the BCA to be satisfied; or (c) could result in a breach of any undertaking,
representation or warranty of such Shareholder contained in this Agreement;

 

		2.1.1	to the extent not already duly executed and delivered, to duly execute (with a wet-ink signature) and
deliver to the Company the Dutch PoA and to have the Dutch PoA notarized, apostilled and, as applicable, accompanied by a confirmation
attached as an annex to the Dutch PoA in accordance with the instructions listed underneath the signature block to the Dutch PoA; and

 

		2.1.2	to, in particular, contribute its Company Shares to TopCo in exchange for TopCo Shares and, if applicable,
effect the Option Exercise for the exercise price set forth in the applicable option prior to the Exchange as contemplated by the BCA.

 

	2.2	ND X B.V. and nd
            industrial investments B.V. undertake, to the extent required or helpful, to exercise their drag rights pursuant to Section
            12 under the Company Shareholders Agreement.
	 	 
	2.3	The
                                 undertakings and agreements of a Shareholder set out above in Section 2.1 shall not constitute any funding
                                 or capital contribution obligation of such Shareholder.

 

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	2.4	For the avoidance of doubt, this Agreement shall be binding upon a Shareholder upon the execution of this
Agreement by such Shareholder, the Company, Athena and TopCo; provided that the undertakings and agreements pursuant to Section 2.1 of
such Shareholder shall be subject to the condition precedent (aufschiebende Bedingung) that the BCA is entered into by and among
the Company, Athena, TopCo, and Merger Sub.

 

	3.	Costs and Expenses

 

Except as otherwise provided for in
this Agreement or by way of bilateral agreement among any of the parties of the Transactions (for the avoidance of doubt, with binding
effect only for such parties), all costs, including fees and expenses, incurred in connection with the preparation, negotiation, execution
and consummation of this Agreement or the transactions contemplated herein, including, without limitation, the costs of professional advisers,
shall be borne by the Party that incurred such costs.

 

	4.	No Assignment of Rights and Obligations

 

No rights and/or obligations under this
Agreement can be transferred or assigned in whole or in part without the prior written consent of the other Parties. However, the transferring
Party shall remain liable in addition to the entering Party for its obligations arising out of this Agreement.

 

	5.	Term of this Agreement; Termination of Prior Agreements

 

	5.1	This Agreement shall have effect as from the date hereof up to the earlier of (i) the expiry of the Termination
Date as defined in the BCA (ii) the termination of the BCA in accordance with its terms or (iii) upon the consummation of all transactions
contemplated under the BCA; a regular termination (ordentliche Kündigung) of this Agreement and any other right to leave
the Agreement for any other reason shall be excluded to the extent legally possible.

 

	5.2	The termination of this Agreement in accordance with Section 5.1 shall be without prejudice to any claims
against a Shareholder in case of a breach of this Agreement by such Shareholder in any respect as of the time of such termination and,
for the avoidance of doubt, the Company or TopCo, as applicable, and Athena shall, without limiting any other rights or remedies relating
thereto, have the right to enforce such claims against such Shareholder notwithstanding such termination. Notwithstanding the foregoing
or anything to the contrary herein, in no event shall Athena have any obligation or liability of any kind or to any person by reason of
being party to or enforcing any of its rights under this Agreement.

 

	6.	Confidentiality

 

Neither of the Shareholders, nor any
of its respective affiliates, shall make any public announcement or issue any public communication regarding this Agreement or the BCA
or the transactions contemplated hereby or thereby, or any matter related to the foregoing, without first obtaining the prior consent
of Athena (which consent shall not be unreasonably withheld, conditioned or delayed), except if such announcement or other communication
is required by applicable law or legal process (including pursuant to the securities laws or the rules of any national securities exchange),
in which case the applicable Party shall use commercially reasonable efforts to obtain such consent with respect to such announcement
or communication from Athena prior to announcement or issuance.

 

	7.	Termination of Certain Agreements

 

The Company and each of the Shareholders
hereby acknowledge and agree that the Company Shareholder Agreement shall, contingent upon the approval of the requisite parties and the
occurrence of the Closing, terminate and be of no force and effect effective immediately prior to the Effective Time, and each of the
Shareholders hereby agrees to the waiver of any rights thereunder in connection with the transactions contemplated by the Merger Agreement.

 

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	8.	Standstill

 

From the date of this Agreement until
the termination of this Agreement in accordance with Section 5, none of the Shareholders shall engage in any transaction involving the
securities of SPAC without SPAC’s prior written consent (which consent shall not be unreasonably, withheld, conditioned, or delayed).

 

	9.	Disclosure

 

Each Shareholder hereby authorizes the
Company and SPAC to publish and disclose in any announcement or disclosure required by applicable securities Laws or the SEC or any other
securities authorities or any other documents or communications provided by SPAC or the Company to any Governmental Authority or to securityholders
of SPAC, such Shareholder’s identity and ownership of the Covered Securities, a copy of this Agreement, and the nature of such Shareholder’s
obligations under this Agreement. Each Shareholder will promptly provide any information reasonably requested by SPAC or the Company for
any regulatory application or filing made or approval sought in connection with the transactions contemplated by the BCA (including filings
with the SEC).

 

	10.	Representations and Warranties; Liability

 

	10.1	Each Shareholder hereby warrants as an individual debtor (als Einzelschuldner) and under exclusion
of any joint and several liability (unter Ausschluss gesamtschuldnerischer Haftung) vis-à -vis TopCo (as a contract for
benefit of a third party – Vertrag zugunsten Dritter) and Athena by way of an independent warranty that immediately prior
to the consummation of the Share Exchange the following statements are true and accurate, in each case however solely with respect to
it (and for the avoidance of doubt, not for any of the other Shareholders) and the Company Securities (defined below) held by it:

 

		10.1.1	Ownership. Such Shareholder has (i) the sole and exclusive legal and beneficial ownership of, (ii)
good and valid title to and (iii) with respect to the Company Shares, full and exclusive power to vote the Equity Securities (“Company
Securities”), listed in Exhibit B, including the number of Company Shares set forth thereon. Its Company Shares have been fully
paid in and not been repaid. Other than arising from this Agreement, the Company Shareholder Agreement, the BCA or the other Transaction
Documents, (a) there are no agreements or arrangements of any kind, contingent or otherwise, to which such Shareholder is a party obligating
such Shareholder to transfer or cause to be transferred to any person other than TopCo any of its Company Securities, (b) no person other
than TopCo has any contractual or other right or obligation to purchase or otherwise acquire any of the Shareholder’s Company Securities,
(c) such Shareholder is not a party to any voting trust, proxy or other agreement or arrangement with respect to the voting of such Shareholder’s
Company Securities, (d) there are no security interests, liens, pledges or other encumbrances or third party rights on such Shareholder’s
Company Securities, (e) such Shareholder’s Company Securities are not subject to any transfer restrictions or pre-emption or similar
acquisition rights other than as provided for by the Company’s articles of association or this Agreement and (f) such Shareholder’s
Company Securities are not subject to any trust agreements or sub-participations. As of the date hereof, except as set forth on Exhibit
B and other than any Convertible Loan Agreements, such Shareholder does not hold any Equity Securities in the Company or its Subsidiaries.

 

		10.1.2	No Insolvency. No petitions to commence bankruptcy or insolvency proceedings concerning such Shareholder
have been filed, nor have any such proceedings been commenced. To such Shareholder’s best knowledge, no circumstances exist that
would require a petition for any bankruptcy, insolvency or judicial composition proceedings, nor do any circumstances exist which according
to any applicable bankruptcy, insolvency or creditor rights laws, would justify an action to void (Anfechtung) this Agreement.

 

		10.1.3	Authority; Enforceability. Such Shareholder has full power and authority and is duly authorized
to make, enter into and carry out the terms of this Agreement and to perform its obligations hereunder. This Agreement has been duly and
validly executed and delivered by such Shareholder and constitutes a valid and binding agreement of such Shareholder, enforceable against
such Shareholder in accordance with its terms.

 

		10.1.4	No Spousal Consent. Such Shareholder does under applicable law not require the consent of its spouse
to any of the contemplated Transactions.

 

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		10.1.5	No Violation. The execution, delivery and performance of this Agreement by such Shareholder will
not (a) violate any provision of any law applicable to such Shareholder or any of its Company Shares; (b) violate any order, judgment
or decree applicable to such Shareholder or any of its Company Securities; (c) result in the creation of any lien or encumbrance
upon any of its Company Securities; or (d) conflict with, or result in a breach or default under, any agreement or instrument to
which such Shareholder is a party or by which or any of its Company Securities are bound; except where, in each of the cases (a)
through (d), such violation or conflict would not reasonably be expected to have, individually or in the aggregate, (i) a material impact
on such Shareholder’s ownership of its Company Securities or (ii) a material adverse effect on the ability of such Shareholder to
satisfy or perform any of such Shareholder’s covenants and obligations hereunder.

 

		10.1.6	Consents and Approvals. The execution and delivery by such Shareholder of this Agreement does not,
and the performance of such Shareholder’s covenants and obligations hereunder do not, require such Shareholder to obtain any consent,
approval, authorization or permit of, or to make any filing with or notification to, any person or entity.

 

		10.1.7	Litigation. There is no proceeding pending or threatened against such Shareholder or its Company
Securities which has had or could reasonably be expected to have, individually or in the aggregate, (a) a material impact on such Shareholder’s
ownership of its Company Securities or (b) a material adverse effect on the ability of such Shareholder to perform any of such Shareholder’s
covenants and obligations hereunder.

 

	10.2	Any and all obligations of a Shareholder under this Agreement shall be undertaken by such Shareholder
solely as an individual debtor (als Einzelschuldner) and under exclusion of any joint and several liability (unter Ausschluss
gesamtschuldnerischer Haftung) and solely with respect to the Company Shares held by such Shareholder.

 

	10.3	A Shareholder’s liability for any and all claims of TopCo and Athena under or in connection with
this Agreement shall be limited to an aggregate maximum amount of such Shareholder’s pro rata participation (based on the
ratio of its participation in the share capital of the Company immediately prior to the Share Exchange) in the Company Equity Value.

 

	10.4	The claims of TopCo and Athena under or in connection with this Section 10 shall become time-barred five
(5) years after the date of this Agreement.

 

	11.	Miscellaneous

 

	11.1	This Agreement and its exhibits and the documents contemplated hereby and thereby comprise the entire
agreement between all of the Parties concerning its subject matter and shall supersede all prior agreements, oral and written declarations
of intent and other arrangements (whether binding or non-binding) made by the Parties in respect thereof, except for any further agreements
entered into in connection with the Transaction.

 

	11.2	Any notice or other declaration to be given to a Shareholder (i) in its position as a shareholder of the
Company (e.g. invitations to shareholders’ meetings) or (ii) under this Agreement shall and may be sent to the correspondence address
and/or e-mail address as set forth in Exhibit B. Each Shareholder shall be obliged to inform the Company in writing of any change
of their respective correspondence address and/or e-mail address, as the case may be, without undue delay.

 

	11.3	All exhibits to this Agreement shall form an integral part of this Agreement. In case of a conflict between
any exhibit and the provisions of this Agreement, the provisions of this Agreement shall prevail.

 

	11.4	The headings in this Agreement are inserted for convenience only and shall not affect the interpretation
of this Agreement.

 

	11.5	Amendments, additions or modifications to this Agreement, including this Section 11.5, shall be valid
only if made in writing unless a stricter form is prescribed by mandatory law and, in each such case, shall require the prior written
consent of Athena.

 

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	11.6	If any court of competent jurisdiction holds any provision of this Agreement invalid or unenforceable,
the other provisions of this Agreement shall remain in full force and effect. The invalid or unenforceable provision shall be deemed to
have been replaced by a valid, enforceable and fair provision which comes as close as possible to the intentions of the Parties hereto
at the time of the conclusion of this Agreement. The same shall apply in case of any unintended gaps. It is the express intent of the
Parties that the validity and enforceability of all other provisions of this Agreement shall be maintained and that this Section 11.6
shall not result in a reversal of the burden of proof but that Section 139 German Civil Code is hereby excluded in its entirety.

 

	11.7	This Agreement and its interpretation and any non-contractual obligations in connection with it are subject
to German substantive law. The UN Convention on Contracts for the International Sale of Goods (CISG) shall not apply.

 

	11.8	English language terms used in this Agreement describe German legal concepts only and shall not be interpreted
by reference to any meaning attributed to them in any jurisdiction other than Germany. Where a German term has been inserted in brackets
and/or italics it alone (and not the English term to which it relates) shall be authoritative for the purpose of the interpretation of
the relevant term whenever it is used in this Agreement.

 

	11.9	Exclusive place of jurisdiction for all disputes regarding rights and duties under this Agreement, including
its validity shall, to the extent legally permissible, be Aachen.

 

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[Signature Page to Shareholder Undertaking]

 

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Exhibit A

Business Combination Agreement

 

    EX-A

     

    

 

Exhibit B

Shareholders

 

    EX-B

     

    

 

Exhibit C

Convertible Loan Lenders

 

    EX-C

     

    

 

Exhibit D

Form of Power of Attorney (German)

 

    EX-D

     

    

 

Exhibit E

Form of Power of Attorney (Dutch)

 

    EX-EExhibit 10.2

 

Confidential

 

LENDER
UNDERTAKING

 

relating
to

 

the
Business Combination of

 

Next.e.GO
Mobile SE, Aachen, Germany with Athena Consumer Acquisition Corporation

 

    

     

    

 

Lender
Undertaking relating to the Business Combination of Next.e.GO Mobile SE, Aachen, Germany with Athena Consumer Acquisition Corporation

 

(the
“Agreement”)

 

by and between

 

		(1)	Next.e.GO
                                            Mobile SE, a European Company (Societas Europaea) existing under the laws of the
                                            European Union and the Federal Republic of Germany with registered seat in Aachen, Germany
                                            registered with the Commercial Register of the Local Court of Aachen under HRB 24014, with
                                            business address at Lilienthalstraße 1, 52068 Aachen, Germany,

 

–
hereinafter referred to as the “Company” –

 

	(2)	the lenders identified as such in Exhibit B,

 

–
each hereinafter referred to as a “Lender” and together the “Lenders” –

 

and

 

		(3)	Athena
                                            Consumer Acquisition Corp., a Delaware corporation, with business address at 442 5th
                                            Avenue, New York, New York 10018, United States of America,

 

–
hereinafter referred to as “Athena” –

 

The Company,
the Lenders and Athena, together with any transferee permitted pursuant to this Agreement, are hereinafter collectively referred to as
the “Parties” and each individually as a “Party”.

 

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Table
of Contents

 

	 	Page
	Preamble	5
	1.	Defined Terms	6
	2.	Undertakings of the Lenders	6
	3.	Release of Liens	7 
	4.	Costs and Expenses	7
	5.	No Assignment of Rights and Obligations	7
	6.	Term of this Agreement; Termination of Prior
    Agreements	7
	7.	Confidentiality	8
	8.	Representations and Warranties; Liability	8
	9.	Miscellaneous	9

 

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	TABLE
    OF EXHIBITS
	 
	Exhibit
    A	Business
    Combination Agreement	 
	Exhibit
    B	Convertible Loan Lenders
	 
	Exhibit C	Forms of Power of Attorney
    (German)	 
	Exhibit D	Forms of Power of Attorney
    (Dutch)	 

 

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Preamble

 

		(A)	The
                                            Company intends to enter into a series of transactions (the “Business Combination”)
                                            with, among other entities, Athena, an entity which is listed on the New York Stock Exchange
                                            (the “NYSE”), for purposes of effecting a merger, share exchange, asset
                                            acquisition, share purchase, reorganization or similar business combination as further described
                                            under recital (D) below.

 

		(B)	Concurrently
                                            with the execution of this Agreement, the Company will enter into a business combination
                                            agreement with Athena and several other entities substantially in the form as attached hereto
                                            as Exhibit A (the “BCA”) setting forth the terms of the Business
                                            Combination.

 

		(C)	The
                                            Company, as borrower, entered into convertible loan agreements in the total principal amount
                                            of EUR 39,085,000 between the Company and the Lenders (the agreements together, the
                                            “Convertible Loan Agreements”).

 

		(D)	Pursuant
                                            to the BCA, the Business Combination will, subject to the terms and conditions thereof (including
                                            any amendments, supplements or other modifications thereto in accordance with its terms)
                                            and among other transactions contemplated thereby, be implemented substantially as follows:

 

(i)
the Lenders will convert the entire loan amount granted to the Company under the Convertible Loan Agreements (plus accrued interest)
into either (y) new common shares in the Company and participate in the Share Exchange (as defined below) or (z) TopCo Shares by way
of an issuance of TopCo Shares against contribution in kind of all the claims arising from the Convertible Loan Agreements (the “Conversion”);

 

(ii)
all of the shareholders of the Company will contribute their respective shares held in the Company (“Company Shares”)
to a newly incorporated Dutch corporation in the legal form of a Dutch private limited liability company (besloten vennootschap met
beperkte aansprakelijkheid), which will as a subsequent step in the implementation of the Business Combination be converted into
a Dutch public limited liability company (naamloze vennootschap) (“TopCo”), in exchange for ordinary shares
in the nominal amount of EUR 0.12 per share in TopCo (“TopCo Shares”) (the “Share Exchange”);

 

(iii)
Athena will merge with a newly formed and wholly owned subsidiary of TopCo, incorporated as a Delaware corporation, (“Merger
Sub”) with Athena as the surviving company in the merger (the “Surviving Company”) and, after giving effect
to the merger: (i) the Surviving Company will be a wholly owned subsidiary of TopCo, and (ii) each issued and outstanding share will
be automatically cancelled and extinguished and converted into one share of common stock, par value $0.0001 per share, of the Surviving
Company (“Surviving Company Common Stock”), and, immediately thereafter, (iii) each of the resulting shares of Surviving
Company Common Stock will be automatically exchanged, through an exchange agent, for one TopCo Share (the Conversion and the Business
Combination including the aforementioned transactions under clauses (i) and (ii) and the other transactions contemplated by the BCA,
all as further described in detail in the BCA, collectively the “Transactions”);

 

(iv)
after giving effect to the Business Combination, the warrants in Athena held by the holders thereof will no longer be exercisable for
shares in Athena but instead will be exercisable (subject to the terms and conditions of such agreement, as amended) for TopCo Shares;
and

 

(v)
on or about the “Closing Date” (as such term is defined in the BCA), the TopCo Shares will be listed on the NYSE.
The pre-money market capitalization of the Company, on the basis of which the Transaction is to be consummated, is USD 800 million, which
includes a 30 million share performance-based earn-out, subject to, and upon the satisfaction of certain terms and conditions (the “Company
Equity Value”).

 

    5

     

    

 

		(E)	It
                                            is in the Lenders’ interest that the Transactions, including for the avoidance of doubt
                                            the Conversion, is implemented substantially as described above and in the BCA.

 

		(F)	In
                                            order to facilitate the implementation of the Transactions substantially all of the Lenders
                                            agree to duly execute and deliver promptly following signing of this Agreement (i) powers
                                            of attorney to Mr. Eelco Van Der Leij, substantially in the form attached hereto as Exhibit
                                            B and (ii) powers of attorney to NautaDutilh N.V., substantially in the form attached
                                            hereto as Exhibit C (the “Dutch PoA”), permitting the respective
                                            authorized person (x) to execute and deliver any documents, agreements, approvals or consent
                                            to which such Lender is a party to in connection with the Transactions, (y) to take all necessary
                                            or desirable actions on behalf of such Lender in connection with the transactions contemplated
                                            under and as set forth in the BCA and the “Transaction Documents” (as
                                            such term is defined in the BCA) to the extent applicable to such Lender (including, for
                                            the avoidance of doubt, the execution of this Agreement on each Lender’s behalf) and
                                            (z) to support the transactions contemplated by the BCA and the other Transaction Documents.

 

NOW, THEREFORE,
the Parties, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and each intending to
be legally bound, hereby enter into this Agreement and agree as follows:

 

		1.	Defined
                                            Terms

 

In
this Agreement, any capitalized terms and any abbreviations used, but not defined in this Agreement, shall have the meaning as ascribed
to them in the BCA as attached hereto.

 

		2.	Undertakings
                                            of the Lenders

 

		2.1	Each
                                            Lender hereby irrevocably and unconditionally undertakes and agrees, subject to the restrictions
                                            set forth in Sections 2.2 and the condition precedent (aufschiebende Bedingung) set
                                            forth in Section 2.3 below, vis-à-vis TopCo (as a contract for benefit of a third
                                            party – Vertrag zugunsten Dritter) and Athena, and in each case to the extent
                                            legally possible and permissible

 

		2.1.1	to
                                            fully support the Transactions and to implement the transactions contemplated under and as
                                            set forth in the BCA and the other Transaction Documents in relation to which such Lender’s
                                            support or participation is required or appropriate, and in particular, without limitation,
                                            to

 

		(a)	enter
                                            into, amend, restate and/or terminate any and all agreements as contemplated herein or therein
                                            and required, necessary or appropriate in this context;

 

		(b)	make
                                            and accept any and all declarations (including approvals and waivers of any kind, including
                                            waiving rights of first refusal and similar rights) which are necessary or appropriate in
                                            this context;

 

		(c)	if
                                            and when, following the Conversion, shareholders’ meetings of the Company or, following
                                            the Share Exchange, TopCo, are held, appear at such meetings and cause the TopCo Shares,
                                            respectively, to be counted as present thereat for the purpose of establishing a quorum;

 

		(d)	participate,
                                            following the Conversion, in shareholders’ meetings of the Company or, following the
                                            Share Exchange, TopCo, and vote in favor of and pass any and all resolutions therein which
                                            are necessary or appropriate in this context, it being understood and agreed that, in particular,
                                            without limitation, the Lender shall, following the Conversion, participate in, vote in favor
                                            of and pass any and all resolutions with respect to the approval of the transfer of Company
                                            Shares to TopCo within the Share Exchange and the conversion of TopCo into a Dutch public
                                            limited liability company (naamloze vennootschap); and

 

    6

     

    

 

		(e)	do
                                            any and all other acts of any kind which are necessary or appropriate to implement the Business
                                            Combination, when requested by the Company.

 

		2.1.2	to
                                            omit from taking any actions which (a) could be detrimental to, impede, interfere with, prohibit,
                                            delay, postpone or otherwise adversely affect the implementation or completion of the transactions
                                            contemplated by and as set forth in the BCA or the other Transaction Documents, including
                                            the Transactions, in particular, without limitation, not to (i) sell, transfer pledge, encumber,
                                            hedge, swap, convert or otherwise dispose of and/or assign its respective rights and obligations
                                            under its respective Convertible Loan Agreement or (ii) enter into any voting agreement or
                                            voting trust, or grant a proxy or power of attorney, that is inconsistent with its obligations
                                            pursuant to this Agreement; (b) could result in the failure of any condition set forth in
                                            the BCA to be satisfied; or (c) could result in a breach of any undertaking, representation
                                            or warranty of such Lender contained in this Agreement;

 

		2.1.3	to
                                            the extent not already duly executed and delivered, to duly execute (with a wet-ink signature)
                                            and deliver to the Company the Dutch PoA and to have the Dutch PoA notarized, apostilled
                                            and, as applicable, accompanied by a confirmation attached as an annex to the Dutch PoA in
                                            accordance with the instructions listed underneath the signature block to the Dutch PoA;
                                            and

 

		2.1.4	to,
                                            in particular, contribute all of its claims under its respective Convertible Loan Agreement
                                            to TopCo in exchange for TopCo Shares in accordance with the Cap Table and the exchange ratio
                                            as set forth therein;

 

		2.2	The
                                            undertakings and agreements of each Lender set out above in Section 2.1 shall not constitute
                                            any funding or capital contribution obligation of such Lender.

 

		2.3	For
                                            the avoidance of doubt, this Agreement shall be binding upon a Lender upon the execution
                                            of this Agreement by such Lender, the Company, Athena and TopCo; provided that the undertakings
                                            and agreements pursuant to Section 2.1 of such Lender shall be subject to the condition precedent
                                            (aufschiebende Bedingung) that the BCA is entered into by and among the Company, Athena,
                                            TopCo, and Merger Sub.

 

		3.	Release
                                            of Liens

 

In
connection with the Transactions, notwithstanding anything to the contrary contained in a Lender’s Convertible Loan Agreement,
such Lender agrees that, upon the exchange of claims under such Convertible Loan Agreement in exchange for TopCo Shares, any liens in
connection with the Convertible Loan Agreement shall be released and any right to purchase any notes of the Company or TopCo shall be
waived, in each case, effective immediately upon such exchange.

 

		4.	Costs
                                            and Expenses

 

Except
as otherwise provided for in this Agreement or by way of bilateral agreement among any of the parties of the Transactions (for the avoidance
of doubt, with binding effect only for such parties), all costs, including fees and expenses, incurred in connection with the preparation,
negotiation, execution and consummation of this Agreement or the transactions contemplated herein, including, without limitation, the
costs of professional advisers, shall be borne by the Party that incurred such costs.

 

		5.	No
                                            Assignment of Rights and Obligations

 

No
rights and/or obligations under this Agreement can be transferred or assigned in whole or in part without the prior written consent of
the other Parties. However, the transferring Party shall remain liable in addition to the entering Party for its obligations arising
out of this Agreement.

 

		6.	Term
                                            of this Agreement; Termination of Prior Agreements

 

		6.1	This
                                            Agreement shall have effect as from the date hereof up to the earlier of (i) the expiry of
                                            the Termination Date as defined in the BCA (ii) the termination of the BCA in accordance
                                            with its terms or (iii) the consummation of all transactions contemplated under the BCA;
                                            a regular termination (ordentliche Kündigung) of this Agreement and any other
                                            right to leave the Agreement for any other reason shall be excluded to the extent legally
                                            possible.

 

    7

     

    

 

		6.2	The
                                            termination of this Agreement in accordance with Section 6.1 shall be without prejudice to
                                            any claims against any Lender in case of a breach of this Agreement by any Lender in any
                                            respect as of the time of such termination and, for the avoidance of doubt, the Company or
                                            TopCo, as applicable, and Athena shall, without limiting any other rights or remedies relating
                                            thereto, have the right to enforce such claims against the relevant Lender, notwithstanding
                                            such termination. Notwithstanding the foregoing or anything to the contrary herein, in no
                                            event shall Athena have any obligation or liability of any kind or to any person by reason
                                            of being party to or enforcing any of its rights under this Agreement.

 

		7.	Confidentiality

 

Neither
of the Lenders, nor any of their respective affiliates, shall make any public announcement or issue any public communication regarding
this Agreement or BCA or the transactions contemplated hereby or thereby, or any matter related to the foregoing, without first obtaining
the prior consent of Athena (which consent shall not be unreasonably withheld, conditioned or delayed), except if such announcement or
other communication is required by applicable law or legal process (including pursuant to the securities laws or the rules of any national
securities exchange), in which case the applicable Party shall use commercially reasonable efforts to obtain such consent with respect
to such announcement or communication from Athena prior to announcement or issuance.

 

		8.	Representations
                                            and Warranties; Liability

 

		8.1	Each
                                            Lender hereby warrants as an individual debtor (als Einzelschuldner) and under exclusion
                                            of any joint and several liability (unter Ausschluss gesamtschuldnerischer Haftung)
                                            vis-à -vis TopCo (as a contract for benefit of a third party – Vertrag zugunsten
                                            Dritter) and Athena by way of an independent warranty that immediately prior to the consummation
                                            of the Conversion the following statements are true and accurate, in each case however solely
                                            with respect to it (and for the avoidance of doubt not for any of the other Lenders):

 

		8.1.1	Ownership.
                                            (i) Such Lender is the sole and exclusive legal and beneficial owner of the claims under
                                            its respective Convertible Loan Agreement and (ii) these claims are free and clear of any
                                            encumbrance or other right, title or interest or adverse claims of any person.

 

		8.1.2	Authority;
                                            Enforceability. Such Lender has full power and authority and is duly authorized to make,
                                            enter into and carry out the terms of this Agreement and to perform its obligations hereunder.
                                            This Agreement has been duly and validly executed and delivered by such Lender and constitutes
                                            a valid and binding agreement of such Lender, enforceable against such Lender in accordance
                                            with its terms.

 

		8.1.3	No
                                            Spousal Consent. Such Lender does under applicable law not require the consent of its
                                            spouse to any of the contemplated Transactions.

 

		8.1.4	No
                                            Insolvency. No petitions to commence bankruptcy or insolvency proceedings concerning
                                            such Lender have been filed, nor have any such proceedings been commenced. To such Lender’s
                                            best knowledge, no circumstances exist that would require a petition for any bankruptcy,
                                            insolvency or judicial composition proceedings, nor do any circumstances exist which according
                                            to any applicable bankruptcy, insolvency or creditor rights laws, would justify an action
                                            to void (Anfechtung) this Agreement.

 

		8.1.5	No
                                            Violation. The execution, delivery and performance of this Agreement by such Lender will
                                            not (i) violate any provision of any law applicable to such Lender or any of its Company
                                            Shares; (ii) violate any order, judgment or decree applicable to such Lender; (iii)
                                            result in the creation of any lien or encumbrance upon any of its Company Shares; or
                                            (iv) conflict with, or result in a breach or default under, any agreement or instrument to
                                            which such Lender is a party; except where, in each of the cases (i) through (iv), such
                                            violation or conflict would not reasonably be expected to have, individually or in the aggregate,
                                            (a) a material impact on such Lender’s ownership of its claims under its respective
                                            Convertible Loan Agreement or (b) a material adverse effect on the ability of such Lender
                                            to satisfy or perform any of such Lender’s covenants and obligations hereunder.

 

    8

     

    

 

		8.1.6	Consents
                                            and Approvals. The execution and delivery by such Lender of this Agreement does not,
                                            and the performance of such Lender’s covenants and obligations hereunder do not, require
                                            such Lender to obtain any consent, approval, authorization or permit of, or to make any filing
                                            with or notification to, any person or entity.

 

		8.1.7	Litigation.
                                            There is no proceeding pending or threatened against such Lender which has had or could reasonably
                                            be expected to have, individually or in the aggregate, (i) a material impact on such Lender’s
                                            ownership of its claims under its respective Convertible Loan Agreement or (ii) a material
                                            adverse effect on the ability of such Lender to perform any of such Lender’s covenants
                                            and obligations hereunder.

 

		8.2	Any
                                            and all obligations of a Lender under this Agreement shall be undertaken by such Lender solely
                                            as an individual debtor (als Einzelschuldner) and under exclusion of any joint and
                                            several liability (unter Ausschluss gesamtschuldnerischer Haftung) and solely with
                                            respect to the Convertible Loan Agreement to which such Lender is a party.

 

		8.3	A
                                            Lender’s liability for any and all claims of TopCo and Athena under or in connection
                                            with this Agreement shall be limited to an aggregate maximum amount of such Lender’s
                                            entire loan amount granted to the Company under the Convertible Loan Agreements (plus accrued
                                            interest).

 

		8.4	The
                                            claims of TopCo and Athena under or in connection with this Section 8 shall become time-barred
                                            five (5) years after the date of this Agreement.

 

		9.	Miscellaneous

 

		9.1	This
                                            Agreement and its exhibits and the documents contemplated hereby and thereby (including,
                                            if a Lender is a shareholder of the Company, the Shareholder Undertaking executed by such
                                            Lender in its capacity as a shareholder) comprise the entire agreement between all of the
                                            Parties concerning its subject matter and shall supersede all prior agreements, oral and
                                            written declarations of intent and other arrangements (whether binding or non-binding) made
                                            by the Parties in respect thereof, except for any further agreements entered into in connection
                                            with the Transactions.

 

		9.2	Any
                                            notice or other declaration to be given to a Lender (i) in its position as a Convertible
                                            Loan Lender or (ii) under this Agreement shall and may be sent to the correspondence address
                                            and/or e-mail address as set forth in Exhibit B. Each Lender shall be obliged to inform
                                            the Company in writing of any change of their respective correspondence address and/or e-mail
                                            address, as the case may be, without undue delay.

 

		9.3	All
                                            exhibits to this Agreement shall form an integral part of this Agreement. In case of a conflict
                                            between any exhibit and the provisions of this Agreement, the provisions of this Agreement
                                            shall prevail.

 

		9.4	The
                                            headings in this Agreement are inserted for convenience only and shall not affect the interpretation
                                            of this Agreement.

 

		9.5	Amendments,
                                            additions or modifications to this Agreement, including this Section 8.5, shall be valid
                                            only if made in writing unless a stricter form is prescribed by mandatory law and, in each
                                            such case, shall require the prior written consent of Athena.

 

		9.6	If
                                            any court of competent jurisdiction holds any provision of this Agreement invalid or unenforceable,
                                            the other provisions of this Agreement shall remain in full force and effect. The invalid
                                            or unenforceable provision shall be deemed to have been replaced by a valid, enforceable
                                            and fair provision which comes as close as possible to the intentions of the Parties hereto
                                            at the time of the conclusion of this Agreement. The same shall apply in case of any unintended
                                            gaps. It is the express intent of the Parties that the validity and enforceability of all
                                            other provisions of this Agreement shall be maintained and that this Section 9.6 shall not
                                            result in a reversal of the burden of proof but that Section 139 German Civil Code is hereby
                                            excluded in its entirety.

 

		9.7	This
                                            Agreement and its interpretation and any non-contractual obligations in connection with it
                                            are subject to German substantive law. The UN Convention on Contracts for the International
                                            Sale of Goods (CISG) shall not apply.

 

		9.8	English
                                            language terms used in this Agreement describe German legal concepts only and shall not be
                                            interpreted by reference to any meaning attributed to them in any jurisdiction other than
                                            Germany. Where a German term has been inserted in brackets and/or italics it alone (and not
                                            the English term to which it relates) shall be authoritative for the purpose of the interpretation
                                            of the relevant term whenever it is used in this Agreement.

 

		9.9	Exclusive
                                            place of jurisdiction for all disputes regarding rights and duties under this Agreement,
                                            including its validity shall, to the extent legally permissible, be Aachen.

 

    9

     

    

 

 

 

[Signature
Page to Lender Undertaking]

 

    

     

    

 

Exhibit
A

Business Combination Agreement

 

    EX-A

     

    

 

Exhibit
B

Convertible Loan Lenders

 

    EX-B

     

    

 

Exhibit
C

Forms of Power of Attorney (German)

 

    EX-C

     

    

 

Exhibit
D

Forms of Power of Attorney (Dutch)

 

 

EX-D

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