Document:

Exhibit 10.6

 

STOCK
ESCROW AGREEMENT

 

STOCK
ESCROW AGREEMENT, dated as of December 21, 2020 (“Agreement”), by and among ACKRELL SPAC PARTNERS I CO., a Delaware
corporation (“Company”), the stockholders of the Company listed on Exhibit A hereto (the “Founders”)
and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York limited purpose trust company (“Escrow Agent”).

 

WHEREAS,
the Company was formed for the purpose of completing a merger, stock exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination (a “Business Combination”) with one or more businesses
or entities.

 

WHEREAS,
the Company has entered into an Underwriting Agreement, dated December 21, 2020 (“Underwriting Agreement”),
with EARLYBIRDCAPITAL, INC. (the “Representative”)
acting as representative of the several underwriters (collectively, the “Underwriters”), pursuant to which,
among other matters, the Underwriters have agreed to purchase 12,000,000 units (“Units”) of the Company, plus
an additional 1,800,000 Units if the Representative exercises the over-allotment option in full. Each Unit consists of one subunit
(each, a “Subunit”) and one-half of one warrant (each, a “Warrant”). Each Subunit consists
of one share of Common Stock and one-half of one Warrant, each Warrant to purchase one share of Common Stock, all as more fully
described in the Company’s final Prospectus, dated December 21, 2020 (“Prospectus”) comprising part of
the Company’s Registration Statements on Form S-1 (File Nos. 333-251060 and 333-251537) under the Securities Act of 1933,
as amended (“Registration Statement”), declared effective on December 21, 2020 (“Effective Date”).

 

WHEREAS,
the Founders have agreed as a condition of the sale of the Units to deposit their shares of Common Stock of the Company in escrow
as hereinafter provided.

 

WHEREAS,
the Company and the Founders desire that the Escrow Agent accept the shares of Common Stock, in escrow, to be held and disbursed
as hereinafter provided.

 

IT
IS AGREED:

 

1. Appointment
of Escrow Agent. The Company and the Founders hereby appoint the Escrow Agent to act in accordance with and subject to the
terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject
to such terms.

 

2. Deposit
of Shares. On or before the Effective Date, the Founders’ respective shares of Common Stock set forth on Exhibit A hereto
shall be deposited in escrow, to be held and disbursed subject to the terms and conditions of this Agreement. The Founders acknowledge
that the shares deposited in escrow will be legended to reflect the deposit of such shares under this Agreement.

 

3. Disbursement
of the Escrow Shares.

 

3.1
If the over-allotment option to purchase all or a portion of the additional 1,800,000 Units of the Company is not exercised in
full within 45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Founders agree that the Escrow
Agent shall return to the Company for cancellation, at no cost, the number of shares of Common Stock determined by multiplying
450,000 by a fraction, (i) the numerator of which is 1,800,000 minus the number of shares of Common Stock included in the Units
purchased by the Underwriters upon the exercise of the over-allotment option, and (ii) the denominator of which is 1,800,000.
The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the over-allotment option and
the number of Units, if any, purchased by the Underwriters in connection with the exercise thereof.

 

     

     

    

 

3.2
Except as otherwise set forth herein, the Escrow Agent shall hold the shares remaining after any cancellation required pursuant
to Section 3.1 above (such remaining shares to be referred to herein as the “Escrow Shares”) until six months
after the date of the consummation of an initial Business Combination (such period of time during which the Escrow Shares are
held in escrow, the “Escrow Period”). The Company shall promptly provide notice of the consummation of an initial
Business Combination to the Escrow Agent. Upon completion of the Escrow Period, the Escrow Agent shall disburse such amount of
each Founder’s Escrow Shares to the applicable Founder; provided, however, that if, after the consummation of an initial
Business Combination and during the Escrow Period, the Company (or the surviving entity) consummates a liquidation, merger, stock
exchange or other similar transaction which results in all of the stockholders of such entity having the right to exchange their
shares of Common Stock for cash, securities or other property, then the Escrow Agent will, upon receipt of a notice executed by
the Chairman of the Board, Chief Executive Officer or other authorized officer of the Company, in form reasonably acceptable to
the Escrow Agent, certifying that such transaction is then being consummated or such conditions have been achieved, as applicable,
release the Escrow Shares to the Founders. The Escrow Agent shall have no further duties hereunder after the disbursement of the
Escrow Shares in accordance with this Section 3.2.

 

3.3 If
the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company’s Trust Account (as defined
in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and the Escrow
Agent as trustee thereunder) is being liquidated, then the Escrow Agent shall deliver the certificates representing the Escrow
Shares to the Founders promptly after the public stockholders are paid the liquidating distributions and shall have no further
duties hereunder.

 

4. Rights
of Founders in Escrow Shares.

 

4.1 Voting
Rights as a Stockholder. Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein
provided, the Founders shall retain all of their rights as stockholders of the Company as long as any shares are held in escrow
pursuant to this Agreement, including, without limitation, the right to vote such shares.

 

4.2 Dividends
and Other Distributions in Respect of the Escrow Shares. For as long as any shares are held in escrow pursuant to this Agreement,
all dividends payable in cash with respect to the Escrow Shares shall be paid to the Founders, but all dividends payable in stock
or other non-cash property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance with
the terms hereof. As used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed
thereon, if any.

 

4.3 Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) to the Founders and the
Company’s officers, directors, consultants or their affiliates, (ii) to a Founder’s stockholders, partners or members
upon such Founder’s liquidation, (iii) by bona fide gift to a member of the Founders’ immediate family or to a trust,
the beneficiary of which is a Founder or a member of a Founder’s immediate family for estate planning purposes, (iv) by
virtue of the laws of descent and distribution upon death of a Founder, (v) pursuant to a qualified domestic relations order binding
on a Founder, (vi) to the Company for no value for cancellation in connection with the consummation of a Business Combination
or (vii) by private sales of the Escrow Shares made at or prior to the consummation of a Business Combination at prices no greater
than the price at which the Escrow Shares were originally purchased; provided, however, that except for clause (vi) or with the
Company’s prior written consent, such permitted transfers may be implemented only upon the respective transferee’s
written agreement to be bound by the terms and conditions of this Agreement and of the Insider Letter signed by the Founder transferring
the shares.

 

4.4 Insider
Letters. The Founders have executed letter agreements with the Company and the Representative, dated as of the date hereto,
the form of which is filed as an exhibit to the Registration Statement (“Insider Letter”), respecting the rights
and obligations of such Founders in certain events, including, but not limited to, the liquidation of the Company. 

 

    2

     

    

 

5. Concerning
the Escrow Agent.

 

5.1 Good
Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise
of its own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document
(not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which is believed by the Escrow Agent in good faith to be genuine and to be signed or presented
by the proper person or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties
and, if the duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

5.2 Indemnification.
Subject to Section 5.8 below, the Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses,
including reasonable counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit
or other proceeding involving any claim which in any way, directly or indirectly, arises out of or relates to this Agreement,
the services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses arising from
the gross negligence, fraud or willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice
of any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other parties
hereto in writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an action
in the nature of interpleader in an appropriate court to determine ownership or disposition of the Escrow Shares or it may deposit
the Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt of a final, non-appealable
order of a court having jurisdiction over all of the parties hereto directing to whom and under what circumstances the Escrow
Shares are to be disbursed and delivered. The provisions of this Section 5.2 shall survive in the event the Escrow Agent resigns
or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3 Compensation.
Subject to Section 5.8 below, the Escrow Agent shall be entitled to reasonable compensation from the Company for all services
rendered by it hereunder. The Escrow Agent shall also be entitled to reimbursement from the Company for all reasonable expenses
paid or incurred by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors’
and agents’ fees and disbursements and all taxes or other governmental charges.

 

5.4 Further
Assurances. From time to time on and after the date hereof, the Company and the Founders shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent
shall reasonably request to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith
or to assure itself that it is protected in acting hereunder.

 

5.5 Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties
hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective
at such time that the Escrow Agent shall turn the Escrow Shares over to a successor escrow agent appointed by the Company and
approved by the Representative, which approval will not be unreasonably withheld, conditioned or delayed. If no new escrow agent
is so appointed within the 60-day period following the giving of such notice of resignation, the Escrow Agent may deposit the
Escrow Shares with any court it reasonably deems appropriate in the State of New York.

 

5.6 Discharge
of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested
in writing at any time by all of the other parties hereto; provided, however, that such resignation shall become effective only
upon the appointment of a successor escrow agent selected by the Company and approved by the Representative, which approval will
not be unreasonably withheld, conditioned or delayed.

 

5.7 Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence, fraud or willful misconduct.

 

5.8 Waiver.
The Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever.

 

    3

     

    

 

6. Miscellaneous.

 

6.1 Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough
of Manhattan, for purposes of resolving any disputes hereunder. As to any claim, cross-claim, or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

 

6.2 Third
Party Beneficiaries. Each of the parties to this Agreement hereby acknowledges that the Representative is a third party beneficiary
of this Agreement.

 

6.3 Entire
Agreement. This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and,
except as expressly provided herein, may only be changed, amended, or modified by a writing signed by each of the parties
hereto.

 

6.4 Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
thereof.

 

6.5 Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

6.6 Notices.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery,
by email or by facsimile transmission:

 

If
to the Company, to:

 

Ackrell
SPAC Partners I Co.

2093
Philadelphia Pike #1968

Claymont,
DE 19703

Email:
steve@spacpartners.com

 

If
to a Founder, to his/her/its address set forth in Exhibit A.

 

and
if to the Escrow Agent, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Client Administration Dept.

Fax
No.:

Email:
accountadmin@continentalstock.com

 

A
copy of any notice sent hereunder shall be sent to:

 

EarlyBirdCapital,
Inc.

366
Madison Ave 8th Floor

New
York, NY 10017

Attn:
Steven Levine

Fax
No.:

Email:
slevine@ebccap.com

  

    4

     

    

 

with
a copy to:

 

Graubard
Miller

 

The
Chrysler Building

405
Lexington Avenue

New
York, New York 10174

Attn:
David Alan Miller, Esq.

Fax
No.: (212) 818-8881

Email:
dmiller@graubard.com

 

and:

 

Ellenoff
Grossman & Schole, LLP

1345
Avenue of the Americas

New
York, NY 10105

Attn:
Douglas S. Ellenoff, Esq.

Fax
No.: (212) 370-7889

Email:
ellenoff@egsllp.com

 

The
parties may change the persons and addresses to which the notices or other communications are to be sent by giving written notice
to any such change in the manner provided herein for giving notice.

 

6.7 Liquidation
of the Trust Account. The Company shall give the Escrow Agent written notification of the liquidation of the Trust Account
in the event that the Company fails to consummate a Business Combination within the time period specified in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time.

 

6.8 Counterparts.
This Agreement may be executed in several counterparts, each one of which shall constitute an original and may be delivered by
facsimile transmission and together shall constitute one instrument.

 

[Signature
Page Follows]

 

    5

     

    

 

WITNESS
the execution of this Agreement as of the date first above written.

	 	 
	 	ACKRELL SPAC PARTNERS I CO.
	 	 
	 	By:	/s/
    Stephen N. Cannon
	 	Name:	Stephen N. Cannon
	 	Title:	Chief Operating Officer
	 	 
	 	ACKRELL SPAC SPONSORS I LLC
	 	 
	 	By:	/s/
    Stephen N. Cannon
	 	Name:	Stephen N. Cannon
	 	Title:	Managing Member
	 	 	 
	 	 	/s/
    William A. Lamkin
	 	 	William A. Lamkin
	 	 	 
	 	 	/s/
    Daniel L. Sheehan
	 	 	Daniel L. Sheehan
	 	 
	 	CONTINENTAL STOCK TRANSFER &
    TRUST COMPANY
	 	 
	 	By:	/s/
    Margaret Lloyd
	 	Name:	Margaret Lloyd
	 	Title:	Vice President

 

[Signature
Page to Stock Escrow Agreement] 

 

    6

     

    

 

EXHIBIT
A

 

	Name and Address of Founder	 	Number of Shares	 
	 	 	 	 
	ACKRELL SPAC SPONSORS I LLC
 2093 Philadelphia Pike #1968
 Claymont, DE 19703
 Attn: Stephen N. Cannon	 	 	3,400,000	 
	 	 	 	 	 
	William A. Lamkin
 2093 Philadelphia Pike #1968
 Claymont, DE 19703 
	 	 	25,000	 
	 	 	 	 	 
	Daniel L. Sheehan
 2093 Philadelphia Pike #1968
 Claymont, DE 19703 
	 	 	25,000	 

 

 

 7Exhibit 10.1

 

[the
letterhead of PKO BP]

 

ADDENDUM NO. 3

TO AGREEMENT
NO. 97 1020 1026 0000 1702 0388 9318

OVERDRAFT
FACILITY

OF 23 MAY
2019

 

The
agreement is concluded on the day the last of the parties’ representatives signs it.

 

Powszechna
Kasa Oszczędności Bank Polski Spółka Akcyjna with its registered office
in Warsaw, address: ul. Puławska 15, 02-515 Warsaw, entered in the National Court Register maintained by the District Court
for the Capital City of Warsaw in Warsaw, 13th Commercial Division of the National Court Register, under KRS No. 0000026438, NIP:
525-000-77-38, REGON: 016298263, with the share capital (paid-in capital) of PLN 1,250,000,000.00 (hereinafter, the “PKO
BP SA”), on behalf of which the following persons are acting:

1.
Paweł Krzywdziuk - Proxy,

2.
Edyta Taborowicz - Proxy,

 

and

 

ASEC Spółka
Akcyjna with the seat in Kraków, address: Wadowicka 6, 30-415 Kraków, entered in
the National Court Register maintained by the District Court for Kraków-Śródmieście in Kraków,
XI Economic Department of the National Court Register, under KRS No. 0000034383, NIP: 677-193¬09-64, REGON: 351324446, with
the share capital (paid-in capital) of PLN 4,107,000.00 (the “Borrower”),
on behalf of which the following persons are acting:

		1.	Agnieszka Światły - President of the Management
Board; and

		2.	Tomasz Boryczko - Vice-President of the Management Board; 

hereinafter
jointly referred to as the “Parties;”

 

hereby
enter into Addendum No. 3 (the “Addendum”), to Agreement No. 97 1020 1026
0000 1702 0388 9318 overdraft facility of May 23, 2019, as amended (the “Agreement”).

 

NOW
THEREFORE, the Parties agreed as follows:

 

§ 1.

At
the Borrower’s request, in order to extend the term of the loan, reduce the amount of the loan by USD 300,000.00 (in words:
three hundred thousand 00/100), i.e. to USD 1,700,000.00 (in words: one million seven hundred thousand 00/100), establish collateral
for the repayment of all obligations of the Borrower under the Agreement and amend certain other provisions of the Agreement, the
Parties agree to make the following amendments to the Agreement:

 

		1)	§ 1 shall be replaced
with the following wording:

		“1.	PKO
                                         BP SA shall grant to the Borrower, subject to the terms and conditions as specified in
                                         the Agreement, an overdraft facility in the amount of USD 1,700,000.00 (in words: one
                                         million seven hundred thousand and 00/100 US Dollars) (hereinafter, the “Facility”).

		  2.	The Borrower declares
that the funds from the Facility shall be used to finance the Borrower’s current liabilities resulting from their business
activity.

		  3.	The Facility shall
be granted for the period from May 23, 2019 to December 22, 2021 (the “Facility Term”).”;

 

2)
§ Paragraph 5(2) shall be replaced with the following wording:

		“2.	On December 22, 2020, bank commission fees and banking charges
shall apply in the amounts as specified in the Tariff, the extract from which is attached as Appendix No. 1 to the Agreement.”;

 

3)
§ 6 shall be replaced by the following:

		“1.	The following shall constitute the security:

		1)	blank promissory note issued by the Borrower together with a
promissory note declaration,

 

    1

     

    

 

		2)	Facility repayment guarantee granted by Bank Gospodarstwa Krajowego
(the “BGK”), as part of agreement for the portfolio guarantee line of the
Liquidity Guarantee Fund No. 4/PLG-FGP/2020 of 10 April 2020, as amended. (the “Portfolio Agreement”)
in the amount constituting 80% of the Facility, i.e. PLN 4,939,792.00 (in words: four million nine hundred and thirty-nine thousand
seven hundred and ninety-two and 00/100 zlotys), as determined on the basis of the amount of the Facility, converted from the currency
of the Facility into PLN at the average exchange rate of the National Bank of Poland as announced on 21 December 2020, which is
3.6322, for the period of 15 (in words: fifteen) months, i.e.: from December 23, 2020 to March 22, 2022 (the “BGK
Guarantee”); the commission fee for the BGK Guarantee shall amount to 0.25% of the amount
of the extended BGK Guarantee; the commission fee shall be collected in advance for the entire term of the BGK Guarantee and charged
from the date it is granted ; the commission fee shall be collected from the Current Account, without any instruction from the
Borrower required. 

		2.	The instruments to secure the BGK Guarantee shall include, among others, blank promissory
note (1 pcs.) together with a promissory note declaration, issued by the Borrower to BGK.

		3.	The documentation related to the Agreement, constituting an integral
part of the Agreement, shall include:

		1)	An application to BKG to grant the BGK Guarantee under the Portfolio
Agreement (the “Application”) constituting Appendix 2 to the Agreement;

		2)	Statement by PKO BP S.A. and the Borrower dated December 22,
2020 (the pari passu clause) constituting Appendix 3 to the Agreement.

		4.	If BGK pays the amount under the BGK Guarantee, BGK shall, upon
payment, enter into the rights of PKO BP SA up to the amount of the payment made - in accordance with Article 47a of Act of May
8, 1997 on the Sureties and Guarantees Issued by the State Treasury and by Certain Legal Persons (Journal of Laws of 2020, item
122, as amended) - including rights to collaterals. 

		5.	All costs related to the establishment, modification and release
of the Collateral shall be borne by the Borrower.

		6.	The collateral shall remain in force until the repayment of all
obligations of the Borrower under the Agreement.”;

 

		4)	In § 7(2)(1), the following letter point (d)
shall be inserted after letter point (c):

“d) Documents for the
previous month on the basis of which PKO BP S.A. will be able to assess the Borrower’s financial liquidity, including in
particular the liquidity sheet, substantially in the form as provided by PKO BP SA, which is attached hereto as Appendix No. 4
to the Agreement - by the 10th day of each month, with the provision that a change to the form of liquidity sheet shall not require
an annex to the Agreement, and a new form of liquidity sheet (Appendix No. 4 to the Agreement) will be provided to the Borrower
to replace the previous one;”

 

		5)	In § 7, the following paragraph 5 shall be
inserted after paragraph 4:

“5. The Borrower undertakes
to make a statement, in the form of notarial deed, on its submission to court enforcement procedure with respect to PKO BP S.A.’s
claims under the Agreement, pursuant to Art. 777.1.1. 5. of Act of November 17, 1964 – the Code of Civil Procedure (consolidated
text in: Journal of Laws [Dz. U.] of 2020, item 1575, as amended) with the content satisfactory to PKO BP SA, under which the Borrower
shall submit itself to enforcement up to the amount of USD 3,400,000.00 (in words: three million four hundred thousand and 00/100
US Dollars), and until December 22, 2023, PKO BP SA shall be able to apply repeatedly to attach the writ of execution to the enforcement
clause.”;

 

		6)	In §8, after
§8.7, §8.8 - 8.10 shall be added with the following wording:

“8)
accepts the final terms and conditions of the BGK Guarantee concerning the term of its validity, percentage rate and the amounts,
as specified in the Agreement,

9)
agrees to amend the Application to the extent that the final conditions of the BGK Guarantee differ from those resulting from the
Application,

10)
consents to PKO BP SA’s collecting the commission fee referred to in §8.1(2), above from the Current Account and transfer
it to BGK.”.

 

§ 2.

		1.	Appendix No. 1 to
the Agreement shall be given the wording as indicated in Appendix No. 1 to the Addendum.

		2.	Appendices Nos.
2 - 4 are introduced to the Agreement, in the wording as indicated in Appendices Nos. 2 - 4 to the Addendum, respectively.

		3.	The remaining provisions
of the Agreement shall remain unchanged.

 

§ 3.

		1.	The Addendum constitutes
an integral part of the Agreement and enters into force as of December 22, 2020, however not earlier than after:

		1)	signing the update
of the bill of exchange declaration referred to in §6.1.1 of the Agreement, in the form and content accepted by PKO BP SA,2)
establishment of security for the repayment of all liabilities of the Borrower under the Agreement referred to in §6.1.2
of the Agreement.

 

    2

     

    

 

		2.	The Borrower undertakes
to submit, within 21 (in words: twenty-one) days of the signing of the Addendum, on pain of termination of the Agreement:

		1)	statement on the
Borrower’s submission to court enforcement procedure, in the form of notarial deed, with respect to PKO BP SA’s claims
under the Agreement, made pursuant to Art. 777 §1.5 of Act of 17 November 1964 - the Code of Civil Procedure (the consolidated
text in Journal of Laws [Dz. U] of 2020, item 1575, as amended) with its content satisfactory to PKO BP SA, under which the Borrower
will submit itself to enforcement up to the amount of USD 3,400,000.00 (in words: three million four hundred thousand 00/100 US
Dollars), and until December 22, 2023, PKO BP SA shall be able to apply repeatedly to attach the writ of execution to the enforcement
clause”;

		2)	up-to-date, i.e.
not older than 1 (in words: one) month, certificates from the Social Insurance Institution (ZUS) that the Borrower has not been
in arrears with the payment of the contributions and certificates from the relevant tax office that the Borrower has not been
in arrears with the payment of taxes,

		3)	up-to-date, i.e.
not older than 1 (in words: one) month, positive bank opinion from Bank Handlowy w Warszawie Spółka Akcyjna of Warsaw
that the Borrower’s financial debt has been served in timely fashion.

		3.	The Borrower represents
that it has submitted the relevant corporate approvals for the loan extension and establishment of collateral to PKO BP SA.

		4.	Any and all amendments
to the Addendum must be made in writing in order to be valid.

 

§ 4.

For
the amending, upon the Borrower’s request, of the terms and conditions of the Agreement, introduced by the Addendum, with
respect to the extension of the Agreement, PKO BP SA shall charge, without a specific instruction from the Borrower to do so, a
commission fee of 1.0% p.a. on the extended amount of the credit facility, however no less than PLN 2,000.00 (in words: two thousand
00/100 zlotys), i.e. USD 17,000.00 (in words: seventeen thousand 00/100 US Dollars). The commission fee shall be charged on the
day of conclusion of the Addendum, in the manner specified in the Agreement, and the Borrower hereby authorises PKO BP SA to do
so.

 

§ 5.

This
document has been drawn up/the declaration of will has been submitted by the proxy in the electronic form and signed with qualified
electronic signatures using the qualified certificates, in accordance with the provisions of Act of September 5, 2016, on the Fiduciary
Services and Electronic Identification.

 

Appendixes
to the Addendum:

 

		1.	Extract from the Table of Banking Commission Fees and Charges
applicable at PKO Bank Polski S.A. for the Corporate Clients – Appendix No. 1 to the Agreement, 

		2.	Application to BGK to grant a BGK Guarantee under the Portfolio
Agreement – Appendix No. 2 to the Agreement, 

		3.	Statement by PKO BP SA and the Borrower (the pari passu clause)
– Appendix No. 3 to the Agreement, 

		4.	Form of liquidity sheet - Appendix No. 4 to the Agreement.

 

 

	Signatures of persons acting on behalf of the Borrower:	 	Signatures of persons acting on behalf of PKO BP SA:
	 	 	 
	Signed by:	 	Signed by:

 

	/s/ Agnieszka Światły	 	/s/ Paweł Krzywdziuk
	Agnieszka Światły, Managing Director of ASEC	 	Paweł Krzywdziuk, Senior Consultant
	Date: 12.21.2020, 5:05 p.m.	 	Date: 12.21.2020, 4:30 p.m.
	 	 	 
	Signed by:	 	 
	 	 	 
	/s/ Tomasz Stanisław Boryczko	 	 
	Tomasz Stanisław Boryczko, Head of Sales of ASEC	 	 
	Date: 12.21.2020, 4:57 p.m.	 	 

 

 

3

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