Document:

Exhibit 10.6

 

FORM OF

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is entered into as of [●], by and among (i) ads-tec energy plc, an Irish public
limited company duly incorporated under the laws of Ireland (the “Company”), (ii) the parties listed on Schedule
A hereto (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant
to Section 5.2 of this Agreement, a “Holder” and collectively, the “Holders”), and (iii)
for the limited purpose set forth in Section 5.5 of this Agreement, European Sustainable Growth Acquisition Corp., an exempted
company incorporated in the Cayman Islands with limited liability under company number 367833 (“EUSG”). Certain
capitalized terms used and not otherwise defined herein are defined in Article 1 hereof.

 

RECITALS

 

WHEREAS, the Company,
EUSG, EUSG II, an exempted company incorporated in the Cayman Islands with limited liability under company number 379118 (“New
SPAC”), ads-tec Energy GmbH, based in Nürtingen and entered in the commercial register of the Stuttgart Local Court
under HRB 762810 (“Aperta”), Bosch Thermotechnik GmbH, based in Wetzlar and entered in the commercial register
of the Wetzlar Local Court under HRB 13 (“Bosch”), ads-tec Holding GmbH, based in Nürtingen and entered
in the commercial register of the Stuttgart Local Court under HRB 224527 (“ADSH”, together with Bosch, the “Sellers”
and each individually, a “Seller”), entered into a certain Business Combination Agreement dated [●] (as amended,
modified, supplemented or waived from time to time in accordance with its terms, the “Business Combination Agreement”),
pursuant to which, inter alia, the Sellers shall transfer all the equity interest of Aperta to the Company for good and valuable consideration,
so that Aperta shall become a wholly-owned subsidiary of the Company, on the terms and subject to the conditions set forth therein (such
transfer, together with the other transactions contemplated by the Business Combination Agreement, the “Transactions”);

 

WHEREAS, pursuant to
the Business Combination Agreement and as a result of the SPAC Merger, as of the date hereof, the Holders are the holders of the Ordinary
Shares and the Private Warrants set forth in Schedule A to this Agreement; and

 

WHEREAS, on or about
the date hereof, each Holder is entering into a lock-up agreement with the Company (each a “Lock-up Agreement”), pursuant
to which, among other things, each Holder agrees not to transfer Ordinary Shares (including Ordinary Shares that are issuable upon the
exercise or conversion of the Private Warrants, if applicable) for a certain period of time following the Closing, subject to certain
exceptions specified therein;

 

WHEREAS, EUSG and the
SPAC Investors entered into that certain Registration Rights Agreement, dated as of January 26, 2021 (the “Prior Agreement”);

 

WHEREAS, EUSG and the
SPAC Investors wish to terminate the Prior Agreement, with such termination effective as of the date hereof, in order to provide for the
terms and conditions included herein;

 

WHEREAS, the parties
hereto are entering into this Agreement concurrently with, and contingent upon, the Closing.

 

    

     

    

 

NOW, THEREFORE,
in consideration of the mutual representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Article
1.

DEFINITIONS

 

1.1 Definitions.
The terms defined in this Article 1 shall, for all purposes of this Agreement, have the respective meanings set forth
below:

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the principal executive
officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be
made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus
and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required
to be made at such time if the Registration Statement were not being filed, and (iii) the Company has a bona fide business purpose
for not making such information public.

 

“ADSH” shall
have the meaning given in the Recitals hereto.

 

“Agreement”
shall have the meaning given in the Preamble hereto.

 

“Aperta”
shall have the meaning given in the Recitals hereto.

 

“Block Trade”
means an offering or sale of Registrable Securities by any Holder on a block trade or underwritten basis (whether firm commitment or otherwise)
without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade or similar transaction.

 

“Board” shall
mean the Board of Directors of the Company.

 

“Bosch” shall
have the meaning given in the Recitals hereto.

 

“Business Combination
Agreement” shall have the meaning given in the Recitals hereto.

 

“Business Day”
means any day on which the principal offices of the SEC in Washington, D.C. are open to accept filings and on which banks are not required
or authorized to close in the City of New York in the United States of America, the Cayman Islands, Ireland or the state of Baden-Wuerttemberg,
Germany; provided that banks shall not be deemed to be authorized or obligated to be closed due to a “shelter in place,”
“non-essential employee” or similar closure of physical branch locations at the direction of any Governmental Authority if
such banks’ electronic funds transfer systems (including for wire transfers) are open for use by customers on such day.

 

“Closing”
shall mean the Closing as defined in the Business Combination Agreement.

 

“Commission”
shall mean the United States Securities and Exchange Commission.

 

“Company”
shall have the meaning given in the Preamble hereto.

 

“Company Shelf Takedown
Notice” shall have the meaning given in Section 2.3.4.

 

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“Demand Registration”
shall have the meaning given in Section 2.1.1.

 

“Demanding Holder”
shall have the meaning given in Section 2.1.1.

 

“EUSG” shall
have the meaning given in the Preamble hereto.

 

“Exchange Act”
shall mean the U.S. Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form F-1”
shall have the meaning given in Section 2.1.1.

 

“Form F-3”
shall have the meaning given in Section 2.3.

 

“Holders”
shall have the meaning given in the Preamble hereto.

 

“Lock-up Agreement”
shall have the meaning given in the Recitals hereto.

 

“Maximum Number of
Securities” shall have the meaning given in Section 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement not misleading or, in the case of a Prospectus, not misleading
in the light of the circumstances under which they were made.

 

“New Holders”
shall mean, collectively, (i) ADSH (ii) Bosch, and (iii) any persons or entities to which the foregoing persons transfer any Registrable
Securities as permitted under this Agreement and the applicable Lock-up Agreement.

 

“Ordinary Shares”
shall mean the ordinary shares of the Company, with par value of $0.0001 each.

 

“Original Holders”
shall mean, collectively, (i) SPAC Investors, and (ii) any persons or entities to which the foregoing person or entity transfers any Registrable
Securities as permitted under this Agreement and the applicable Lock-up Agreement.

 

“Permitted Transferees”
shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior
to the expiration of the lock-up period in the applicable Lock-up Agreement and any other applicable agreement between such Holder and
the Company, and to any transferee thereafter.

 

“Piggyback Registration”
shall have the meaning given in Section 2.2.1.

 

“PIPE Subscription
Agreements” means those certain subscription agreements, each dated [●], 2021, entered into by and among EUSG and the
persons identified therein as “Subscribers”.

 

“Prior Agreement”
shall have the meaning given in the Recitals hereto.

 

“Private Warrants”
shall mean each one (1) warrant of the Company entitling the holder thereof to purchase one (1) Ordinary Share on the same terms and conditions
described in the Prospectus of the Company.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

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“Registrable Security”
shall mean, as set forth on Schedule A, (a) the Ordinary Shares, (b) the Private Warrants (including any Ordinary Shares
issuable upon the exercise of any such Private Warrants and (c) any warrants, shares of capital stock or other securities of the
Company issued as a dividend or other distribution with respect to or in exchange for or in replacement of such Ordinary Shares or Private
Warrants (including any Ordinary Shares issuable upon the exercise of any such Private Warrants); provided, however, that,
as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) a Registration Statement
with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold,
transferred, disposed of or exchanged in accordance with such Registration Statement; (ii) such securities shall have been otherwise
transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company
and subsequent public distribution of such securities shall not require registration under the Securities Act; (iii) such securities
shall have ceased to be outstanding; or (iv) such securities have been sold to, or through, a broker, dealer or Underwriter in a
public distribution or other public securities transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming
effective.

 

“Registration Expenses”
shall mean the out-of-pocket expenses relating to a Registration, including, without limitation, the following:

 

(A) all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.)
and any securities exchange on which the Ordinary Shares are then listed;

 

(B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters,
if any, in connection with blue sky qualifications of Registrable Securities);

 

(C) printing,
messenger, telephone and delivery expenses;

 

(D) reasonable
fees and disbursements of counsel for the Company;

 

(E) reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration;
and

 

(F) reasonable
fees and expenses of one (1) legal counsel selected by either (i) the relative majority-in-interest of Holders initiating a Demand
Registration to be registered for offer and sale in the applicable Registration or Shelf Underwritten Offering (including, without limitation,
a Block Trade), or (ii) the relative majority-in-interest of participating Holders under Section 2.2 if the Registration was initiated
by the Company for its own account or that of a Company shareholder other than pursuant to rights under this Agreement, in each case to
be registered for offer and sale in the applicable Registration.

 

“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the
Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder”
shall have the meaning given in Section 2.1.1.

 

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“Securities Act”
shall mean the U.S. Securities Act of 1933, as amended from time to time.

 

“Shelf Take
Down Notice” shall have the meaning given in Section 2.3.4.

 

“Shelf Underwritten
Offering” shall have the meaning given in Section 2.3.4.

 

“SPAC Investors”
shall mean (i) LRT Capital1 LLC, (ii) EarlyBirdCapital, Inc., (iii) ABN AMRO Securities (USA) LLC and (iv) LHT Invest AB.

 

“SPAC Merger”
shall mean the merger of EUSG with and into New SPAC, with New SPAC being the surviving company in such merger in accordance with the
Business Combination Agreement and the Plan of Merger, as defined in the Business Combination Agreement.

 

“Sponsor” shall mean LRT Capital1 LLC, a Delaware
limited liability company, and whose office is at 789 Crandon Blvd., Key Biscayne, FL 33149.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Transactions”
shall have the meaning given in the Recitals hereto.

 

“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to one or more Underwriters
in a firm commitment underwriting for distribution to the public.

 

Article
2.

REGISTRATIONS

 

2.1 Demand
Registration.

 

2.1.1 Request
for Registration. Subject to the provisions of Section 2.1.4 hereof, at any time and from time to time on or after the date
hereof, (i) each New Holder or (ii) Original Holders holding at least a majority in interest of the then issued and outstanding number
of Registrable Securities held by all Original Holders (such New Holders or such Original Holders, as the case may be, the “Demanding
Holders”) may make a written demand for Registration of all or part of their Registrable Securities on Form F-3 (or, if Form
F-3 is not available to be used by the Company at such time, on Form F-1 or another appropriate form permitting Registration of such Registrable
Securities for resale by such Demanding Holders), which written demand shall describe the amount and type of securities to be included
in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).
The Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other
Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a
portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes
all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”) shall so
notify the Company, in writing, within three (3) Business Days after the receipt by the Holder of the notice from the Company. Upon
receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be
entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect,
as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt of the Demand
Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such
Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of three (3) Registrations
pursuant to a Demand Registration under this Section 2.1.1 with respect to any or all Registrable Securities (provided that
ADSH and Bosch shall each be entitled to initiate no less than one Demand Registration under this Section 2.1.1); provided,
however, that a Registration shall not be counted for such purposes unless a registration statement that may be available at such
time has become effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the
Requesting Holders in such registration statement have been sold, in accordance with Section 3.1 of this Agreement.

 

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2.1.2 Effective
Registration. Notwithstanding the provisions of Section 2.1.1 above or any other part of this Agreement, a Registration pursuant
to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission
with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company
has complied with all of its obligations under this Agreement with respect thereto; provided further that if, after such Registration
Statement has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently
enjoined by any stop order or injunction of the Commission, federal or state court or any other governmental agency, the Registration
Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until (i) such stop order
or injunction is removed, rescinded or otherwise terminated and (ii) a majority-in-interest of the Demanding Holders initiating such
Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing of
such election not later than five (5) days following such removal, rescinding or termination; provided further that the Company
shall not be obligated or required to file another Registration Statement until the Registration Statement that has been previously filed
with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

2.1.3 Underwritten
Offering. Subject to the provisions of Section 2.1.4 hereof, if a majority-in-interest of the Demanding Holders so advise the
Company as part of their Demand Registration that the offering of the Registrable Securities pursuant to such Demand Registration shall
be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder (if any) to include its Registrable
Securities in such Registration shall be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion
of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided herein. All such Holders proposing
to distribute their Registrable Securities through an Underwritten Offering under this Section 2.1.3 shall enter into an underwriting
agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the majority-in-interest of the Demanding
Holders initiating the Demand Registration.

 

2.1.4 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration,
in good faith, advise the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number
of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other
Ordinary Shares or other equity securities that the Company desires to sell and the Ordinary Shares, if any, as to which a Registration
has been requested pursuant to separate written contractual piggyback registration rights held by any other shareholders who desire to
sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely
affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum
dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then
the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders
and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and
Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration) that can be sold without
exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clause (i), the Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding
the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (i) and (ii), the Ordinary Shares or other equity securities of other persons or entities that the Company
is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold
without exceeding the Maximum Number of Securities.

 

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2.1.5 Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under Section 2.1.1 shall have the right to withdraw from a Registration
pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of their intention to withdraw from such Registration at least three (3) Business Days prior to the effectiveness of the Registration
Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration
(or in the case of an Underwritten Registration pursuant to Rule 415 under the Securities Act, at least five (5) Business Days prior to
the time of pricing of the applicable offering). Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible
for the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration prior to its withdrawal under
this Section 2.1.5.

 

2.2 Piggyback
Registration.

 

2.2.1 Piggyback
Rights. If, at any time on or after the date hereof, the Company proposes to file a Registration Statement under the Securities Act
with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into
equity securities, for its own account or for the account of persons other than the Holders of Registrable Securities, other than a Registration
Statement (i) filed in connection with any employee share option or other benefit plan, (ii) for an exchange offer or offering
of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity
securities of the Company, (v) for an “at the market” or similar registered offering through a broker, sales agent or distribution
agent, whether as agent or principal, or (vi) for a dividend reinvestment plan, then the Company shall give written notice of such proposed
filing to all of the Holders of Registrable Securities as soon as reasonably practicable but not less than ten (10) days before the
anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be included
in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in
such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number
of Registrable Securities as such Holders may request in writing within five (5) Business Days after receipt of such written notice
(such Registration a “Piggyback Registration”). The Company shall, in good faith, cause such Registrable Securities
to be included in such Piggyback Registration and, if applicable, shall use commercially reasonable best efforts to cause the managing
Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant
to this Section 2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar securities of
the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with
the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten
Offering under this Section 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected
for such Underwritten Offering by the Company. The Company shall have the right to terminate or withdraw any Registration Statement initiated
by it under this Section 2.2.1 before the effective date of such Registration, whether or not any Holder has elected to include
Registrable Securities in such Registration, provided that the Company shall be responsible for the Registration Expenses incurred in
connection with a Piggyback Registration by the Holders.

 

2.2.2 Reduction
of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggyback Registration,
in good faith, advise the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that
the dollar amount or number of the Ordinary Shares that the Company desires to sell, taken together with (i) the Ordinary Shares,
if any, as to which Registration has been demanded pursuant to separate written contractual arrangements with persons or entities other
than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been requested
pursuant to Section 2.2 hereof, and (iii) the Ordinary Shares, if any, as to which Registration has been requested pursuant
to separate written contractual piggyback registration rights of other shareholders of the Company, exceeds the Maximum Number of Securities,
then:

 

(a) If
the Registration is undertaken for the Company’s account, the Company shall include in any such Registration: (A) first, the
Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of
Securities; and (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A),
the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to Section 2.2.1
hereof, pro rata based on the respective number of Registrable Securities that each Holder has so requested exercising its rights to register
its Registrable Securities pursuant to Section 2.2.1 hereof, which can be sold without exceeding the Maximum Number of Securities;
and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B),
the Ordinary Shares, if any, as to which Registration has been requested pursuant to written contractual piggyback registration rights
of other shareholders of the Company, which can be sold without exceeding the Maximum Number of Securities;

 

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(b) If
the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall
include in any such Registration: (A) first, the Ordinary Shares or other equity securities, if any, of such requesting persons or
entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of
Holders exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, pro rata based on the respective
number of Registrable Securities that each Holder has so requested exercising its rights to register its Registrable Securities pursuant
to Section 2.2.1 hereof, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares or other equity
securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary
Shares or other equity securities for the account of other persons or entities that the Company is obligated to register pursuant to separate
written contractual arrangements with such persons or entities, which can be sold without exceeding the Maximum Number of Securities.

 

2.2.3 Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention
to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Piggyback Registration (or in the case of an Underwritten Registration pursuant to Rule 415 under the Securities Act, at least
three (3) Business Days prior to the time of pricing of the applicable offering). The Company (whether on its own good faith determination
or as the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration
Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses
incurred in connection with the Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4 Unlimited
Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall
not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

2.3 Resale Shelf
Registration Rights.

 

2.3.1 Shelf
Registration Statement Covering Resale of Registrable Securities.   The Company shall prepare and file or cause to
be prepared and filed with the Commission, no later than thirty (30) days following the closing of the Business Combination, a Registration
Statement for an offering to be made on a continuous basis pursuant to Rule 415 of the Securities Act or any successor thereto registering
the resale from time to time by each Holder of all of the Registrable Securities held by such Holder (the “Resale Shelf Registration
Statement”). The Resale Shelf Registration Statement shall be on Form F-3 (or if Form F-3 is not available to be used by the
Company at such time, on Form F-1 or another appropriate form permitting Registration of such Registrable Securities for resale). The
Company shall use commercially reasonable efforts to cause the Resale Shelf Registration Statement to be declared effective as soon as
practicable after filing, but in no event later than 180 days following the closing of the Business Combination. Once effective, the Company
shall use commercially reasonable efforts to keep the Resale Shelf Registration Statement continuously effective and to be supplemented
and amended to the extent necessary to ensure that such Resale Shelf Registration Statement is available or, if not available, to ensure
that another Registration Statement is available, under the Securities Act at all times until all Registrable Securities covered by such
Resale Shelf Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth in such
Resale Shelf Registration Statement or have ceased to be Registrable Securities. The Registration Statement filed with the Commission
pursuant to this Section 2.3.1 shall contain a prospectus in such form as to permit any Holder to sell such Registrable
Securities pursuant to Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission then in
effect) at any time beginning on the effective date for such Registration Statement (subject to the restrictions provided below), and
shall provide that such Registrable Securities may be sold pursuant to any method or combination of methods legally available to, and
requested by, the Holders. If the Resale Shelf Registration Statement is filed on Form F-1, then promptly following the date upon which
the Company becomes eligible to use a Registration Statement on Form F-3, the Company shall file a post-effective amendment on Form F-3
to the Resale Shelf Registration Statement (an “F-3 Conversion”). 

 

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2.3.2 Notification
and Distribution of Materials.   The Company shall notify the Holders in writing of the effectiveness of the Resale
Shelf Registration Statement as soon as practicable, and in any event within one (1) Business Day after the Resale Shelf Registration
Statement becomes effective, and shall furnish to them, without charge, such number of copies of the Resale Shelf Registration Statement
(including any amendments, supplements and exhibits), the Prospectus contained therein (including each preliminary prospectus and all
related amendments and supplements) and any documents incorporated by reference in the Resale Shelf Registration Statement or such
other documents as the Holders may reasonably request in order to facilitate the sale of the Registrable Securities in the manner described
in the Resale Shelf Registration Statement. 

 

2.3.3 Amendments
and Supplements.   Subject to the provisions of Section 2.3.1, the Company shall promptly prepare
and file with the Commission from time to time such amendments and supplements to the Resale Shelf Registration Statement and Prospectus
used in connection therewith as may be necessary to keep the Resale Shelf Registration Statement effective and to comply with the provisions
of the Securities Act with respect to the disposition of all the Registrable Securities. If any Resale Shelf Registration Statement filed
pursuant to Section 2.3.1 is filed on Form F-3 and thereafter the Company becomes ineligible to use Form F-3 for secondary
sales, the Company shall promptly notify the Holders of such ineligibility and use its reasonable best efforts to file a shelf registration
on an appropriate form as promptly as practicable to replace the shelf registration statement on Form F-3 and have such replacement Resale
Shelf Registration Statement declared effective as promptly as practicable and to cause such replacement Resale Shelf Registration Statement
to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Resale Shelf Registration Statement
is available or, if not available, that another Resale Shelf Registration Statement is available, for the resale of all the Registrable
Securities held by the Holders until all such Registrable Securities have ceased to be Registrable Securities; provided, however,
that at any time the Company once again becomes eligible to use Form F-3, the Company shall cause such replacement Resale Shelf Registration
Statement to be amended, or shall file a new replacement Resale Shelf Registration Statement, such that the Resale Shelf Registration
Statement is once again on Form F-3. 

 

2.3.4 Shelf
Underwritten Offering. At any time and from time to time following the effectiveness of the Resale Shelf Registration Statement required
by Section 2.3.1, any Holder may request to sell all or a portion of their Registrable Securities in an underwritten offering that
is registered pursuant to such shelf registration statement, including a Block Trade (a “Shelf Underwritten Offering”)
provided that such Holder(s) (a) reasonably expects to sell Registrable Securities yielding aggregate gross proceeds in excess
of $25,000,000 from such Shelf Underwritten Offering or (b) reasonably expects to sell all of the Registrable Securities held by such
Holder in such Shelf Underwritten Offering. All requests for a Shelf Underwritten Offering shall be made by giving written notice to the
Company (the “Shelf Take Down Notice”). Each Shelf Takedown Notice shall specify the approximate number of Registrable
Securities proposed to be sold in the Shelf Underwritten Offering and the expected price range (net of underwriting discounts and commissions)
of such Shelf Underwritten Offering. Within three (3) days after receipt of any Shelf Take Down Notice, the Company shall give written
notice of such requested Shelf Underwritten Offering to all other Holders of Registrable Securities (the “Company Shelf Takedown
Notice”) and, subject to the provisions of Section 2.1.4, shall include in such Shelf Underwritten Offering all Registrable
Securities with respect to which the Company has received written requests for inclusion therein, within five (5) days after sending the
Company Shelf Takedown Notice, or, in the case of a Block Trade, as provided in Section 2.5. The Company shall enter into an underwriting
agreement in a form as is customary in Underwritten Offerings of securities by the Company with the managing Underwriter or Underwriters
selected by the Holders after consultation with the Company and shall take all such other reasonable actions as are requested by the managing
Underwriter or Underwriters in order to expedite or facilitate the disposition of such Registrable Securities. In connection with any
Shelf Underwritten Offering contemplated by this Section 2.3.4, subject to Section 3.3 and Article IV, the underwriting
agreement into which each Holder and the Company shall enter shall contain such representations, covenants, indemnities and other rights
and obligations as are customary in underwritten offerings of securities by the Company.

 

2.3.5 Registrations
effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1
other than pursuant to a Shelf Underwritten Offering, which shall be counted as a Demand Registration.

 

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2.4 Restrictions on
Registration Rights. If: (A) during the period starting with the date sixty (60) days prior to the Company’s good faith
estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a
Company-initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a
Demand Registration pursuant to Section 2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to
cause the applicable Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration and the
Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith
judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is
essential to defer the filing of such Registration Statement at such time, then in each case the Company shall furnish to such
Holders a certificate signed by the Chairman of the Board or another authorized representative of the Board stating that in the good
faith judgment of the Board it would be seriously detrimental to the Company for such Registration Statement to be filed in the near
future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company shall have
the right to defer such filing for a period of not more than forty-five (45) days; provided, however, that the Company
shall not defer its obligation in this manner more than once in any 12-month period.

 

2.5 Block Trades.
Notwithstanding any other provision of this Section 2.5, but subject to Sections 2.4 and 3.4, if the Holders desire to effect
a Block Trade in which such Holders (a) reasonably expect to sell Registrable Securities yielding aggregate gross proceeds in excess
of $25,000,000 from such Block Trade or (b) reasonably expect to sell all of the Registrable Securities held by such Holders in such
Block Trade, then notwithstanding any other time periods in this Section 2.5, the Holders shall provide written notice to the
Company at least five (5) Business Days prior to the date such Block Trade will commence. As expeditiously as possible, the Company
shall use its reasonable best efforts to facilitate such Block Trade. The Holders shall use reasonable best efforts to work with the
Company and the Underwriters (including by disclosing the maximum number of Registrable Securities proposed to be the subject of
such Block Trade) in order to facilitate preparation of the Registration Statement, Prospectus and other offering documentation
related to the Block Trade and any related due diligence and comfort procedures. In the event of a Block Trade, and after
consultation with the Company, the Demanding Holders and the Requesting Holders (if any) shall determine the Maximum Number of
Securities, the underwriter or underwriters and share price of such offering. Notwithstanding any other provision of this Agreement,
in the event of a Block Trade in connection with the sale of Registrable Securities by a pledgee upon foreclosure of the Registrable
Securities that were pledged as collateral for a loan, the Company shall not include any other Holders’ Registrable Securities
on the Registration Statement or Prospectus with respect to such Block Trade.

 

Article
3.

COMPANY PROCEDURES

 

3.1 General
Procedures. If at any time on or after the date hereof the Company is required to effect the Registration of Registrable
Securities, the Company shall use its commercially reasonable best efforts to effect such Registration to permit the sale of such
Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as
expeditiously as reasonably possible:

 

3.1.1 prepare
and file with the Commission as soon as reasonably practicable a Registration Statement with respect to such Registrable Securities and
use its commercially reasonable best efforts to cause such Registration Statement to become effective and remain effective for a period
of up to one hundred eighty (180) days or, if earlier, until all Registrable Securities covered by such Registration Statement have been
sold;

 

    10

     

    

 

3.1.2 prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be reasonably requested by the majority-in-interest of the Holders with Registrable Securities registered on such Registration
Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the
registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement
effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution
set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3 prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such
Holders;

 

3.1.4 prior
to any public offering of Registrable Securities, use its commercially reasonable best efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification)
and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with
or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do
any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such
Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

3.1.5 cause
all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities issued
by the Company are then listed;

 

3.1.6 provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of
such Registration Statement;

 

3.1.7 advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding
for such purpose and promptly use commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal
if such stop order should be issued;

 

3.1.8 at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (other than by way of a document incorporated by reference into such Registration Statement or Prospectus) furnish
a copy thereof to each seller of such Registrable Securities or its counsel;

 

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3.1.9 notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act,
of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10 permit
a representative of the Holders (such representative to be selected by a majority-in-interest of the participating Holders), the Underwriters,
if any, and any attorney or accountant retained by such Holders or Underwriters to participate, at each such person’s own expense,
in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided,
however, that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably satisfactory
to the Company, prior to the release or disclosure of any such information;

 

3.1.11 obtain
a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Registration, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the
managing Underwriter(s) may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.12 on
the date the Registrable Securities are delivered for sale pursuant to such Registration, in the event of an Underwritten Registration,
obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Underwriters,
the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration
in respect of which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and
as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to a majority in interest of
the participating Holders;

 

3.1.13 in
the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
form, with the managing Underwriter(s) of such offering;

 

3.1.14 make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated
thereafter by the Commission);

 

3.1.15 if
the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary “road show” presentations that may
be reasonably requested by the Underwriter(s) in any Underwritten Offering; and

 

3.1.16 otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by, the Holders in connection
with such Registration.

 

3.2 Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company; provided, however, that
the Company shall not be required to pay for more than one (1) registration proceeding begun pursuant to Section 2.1 by the
Demanding Holders that are New Holders and one (1) registration proceeding begun pursuant to Section 2.1 by the Demanding
Holders that are Original Holders, in each case if the registration request is subsequently withdrawn at the request of the
Demanding Holders. Any Registration Expenses of Registrations not borne by the Company pursuant to the immediately preceding
sentence shall be borne by the Demanding Holders pro rata based upon the number of Registrable Securities that were to be included
in the withdrawn registration. It is acknowledged by the Holders that the Holders shall bear all incremental selling expenses
relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts, brokerage fees, Underwriter
marketing costs and, other than as set forth in the definition of “Registration Expenses,” all reasonable fees and
expenses of any legal counsel representing the Holders.

 

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3.3 Requirements for
Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of the
Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s
securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all
customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents
as may be reasonably required under the terms of such underwriting arrangements.

 

3.4 Suspension of
Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until he, she or it has
received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby
covenants to prepare and file such supplement or amendment as soon as reasonably practicable after the time of such notice), or
until he, she or it is advised in writing by the Company that the use of the Prospectus may be resumed. If the filing, initial
effectiveness or continued use of a Registration Statement in respect of any Registration at any time would require the Company to
make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that are
unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of
such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the
shortest period of time, determined in good faith by the Company to be necessary for such purpose. In the event the Company
exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice
referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable
Securities. The Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights
under this Section 3.4.

 

3.5 Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting
company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the
Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants
that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable
such Holder to sell Ordinary Shares held by such Holder without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the
Commission, to the extent that such rule or such successor rule is available to the Company), including providing any customary
legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly
authorized officer as to whether it has complied with such requirements.

 

Article
4.

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

4.1.1 In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, the Company agrees to indemnify,
to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each person who controls such Holder
(within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including reasonable attorneys’
fees) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading, except
insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use
therein. The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within
the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.
Notwithstanding the foregoing, the indemnity agreement contained in this Section 4.1.1 shall not apply to amounts paid in settlement
of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably
withheld, conditioned, or delayed.

 

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4.1.2 In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to
the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each
person who controls the Company (within the meaning of the Securities Act) and any other Holder of Registrable Securities participating
in the Registration, against any losses, claims, damages, liabilities and expenses (including without limitation reasonable attorneys’
fees) resulting from any untrue or alleged untrue statement of material fact contained in the Registration Statement, Prospectus or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated
therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained
in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided, however, that
the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of
each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the
sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters,
their officers, directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3 Any
person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which he, she or it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right
to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in
such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist
with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to
the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled
to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel (plus
local counsel) for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of
any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect
to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter
into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party
pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

4.1.4 The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer
of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions
as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s
indemnification is unavailable for any reason.

 

4.1.5 If
the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party,
in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of
such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party
and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information
supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party’s
and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided,
however, that the liability of any Holder under this Section 4.1.5 shall be limited to the amount of the net proceeds received
by such Holder in such offering giving rise to such liability except in the case of fraud or willful misconduct by such Holder as determined
by a court of competent jurisdiction, evidenced by a final non-appealable order. The amount paid or payable by a party as a result of
the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 4.1.1,
4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with
any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section
4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations
referred to in this Section 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution pursuant to this Section 4.1.5 from any person who was not guilty of such
fraudulent misrepresentation.

 

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Article
5.

MISCELLANEOUS

 

5.1 Notices. All
notices, demands, requests, consents, approvals or waivers and other communications required or permitted to be given hereunder or
which are given with respect to this Agreement shall be in writing and shall be given (and shall be deemed to have been duly given
upon receipt) by delivery (i) in person, (ii) by e-mail (having obtained electronic delivery confirmation thereof), (iii) by
reputable, nationally recognized overnight courier service, or (iv) by registered or certified mail, pre-paid and return receipt
requested, provided, however, that notice given pursuant to clauses (iii) and (iv) above shall not be effective unless
a duplicate copy of such notice is also given in person or by e-mail (having obtained electronic delivery confirmation thereof); in
each case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like
notice):

 

To the Company:

 

ads-tec Energy plc

10 Earlsfort Terrace

Dublin 2

D02 T380, Ireland

Attn: Pieter Taselaar

Email: ptaselaar@lucernecap.com

 

To EUSG:

 

European Sustainable Growth Acquisition Corp.

73 Arch St., Greenwich CT, 06830

Attn: Pieter Taselaar

Email: ptaselaar@lucernecap.com

 

To a Holder: to the address set forth beside such
Holder’s name on Schedule A hereto.

 

5.2 Assignment; No
Third Party Beneficiaries.

 

5.2.1 This
Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or
in part.

 

5.2.2 Prior
to the expiration of the lock-up period in the applicable Lock-up Agreement, no Holder may assign or delegate such Holder’s rights,
duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities by such
Holder to a Permitted Transferee but only if such Permitted Transferee assumes such Holder’s rights and obligations under this Agreement
upon its, his or her execution and delivery of a joinder agreement, in form and substance reasonably acceptable to the Company agreeing
to be bound by the terms and conditions of this Agreement as if such person were a Holder party hereto; whereupon such person will be
treated for all purposes of this Agreement, with the same rights, benefits and obligations hereunder as such Holder with respect to the
transferred Registrable Securities.

 

5.2.3 This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and
the permitted assigns of the Holders, which shall include Permitted Transferees.

 

5.2.4 This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this
Agreement and Section 5.2 hereof.

 

5.2.5 No
assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company
unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof
and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made
other than as provided in this Section 5.2 shall be null and void.

 

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5.3 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as
similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable.

 

5.4 Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an
original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.5 Entire
Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered
pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede
all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether
oral or written. Without limiting the generality of the foregoing, EUSG and SPAC Investors hereby agree that the Prior Agreement is
hereby terminated and of no further force or effect.

 

5.6 Governing Law;
Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware as applied
to agreements among Delaware residents entered into and to be performed entirely within Delaware, without giving effect to any
choice of law or conflict of law, provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause
the application of the law of any jurisdiction other than the State of Delaware. Each Party hereto (a) irrevocably consents to the
service of the summons and complaint and any other process in any action or proceeding relating to the transactions contemplated by
this Agreement, for and on behalf of itself or any of its properties or assets, in accordance with this Section 5.6 or in
such other manner as may be permitted by applicable law, that such process may be served in the manner of giving notices in Section
5.1 and that nothing in this Section 5.6 shall affect the right of any party to serve legal process in any other manner
permitted by applicable law, (b) irrevocably and unconditionally consents and submits itself and its properties and assets in any
action or proceeding to the exclusive jurisdiction of the Federal courts of the United States or the Court of Chancery of the State
of Delaware, in the event any dispute or controversy arises out of this Agreement or the transactions contemplated hereby, or for
recognition and enforcement of any order in respect thereof, (c) agrees that it will not attempt to deny or defeat such jurisdiction
by motion or other request for leave from any such court, (d) agrees that any actions or proceedings arising in connection with this
Agreement or the transactions contemplated hereby shall be brought, tried and determined only in the Federal courts of the United
States or the courts of the State of Delaware, (e) waives any objection that it may now or hereafter have to the venue of any such
action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to
plead or claim the same, and (f) agrees that it will not bring any action or proceeding relating to this Agreement or the
transactions contemplated hereby in any court other than the aforesaid courts. Each Party hereto agrees that a final order in any
action or proceeding in such courts as provided above shall be conclusive and may be enforced in other jurisdictions by suit on the
order or in any other manner provided by applicable law.

 

5.7 WAIVER OF TRIAL
BY JURY. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM
OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE HOLDERS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT
HEREOF.

 

    16

     

    

 

5.8 Amendments and
Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may
be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that
notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in his, her or its
capacity as a holder of the shares of the Company, in a manner that is materially different from the other Holders (in such
capacity) shall require the consent of the Holder so affected provided further that no consent of any Piggyback Registration
Rights Holder shall be required with respect to any such waiver, amendment or modification, except with respect to any waiver,
amendment or modification that adversely affects such Piggyback Registration Rights Holder, solely in its capacity as a holder of
Registrable Securities, in a manner that is materially different from the other Holders (in such capacity). No course of dealing
between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in
exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the
Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or
preclude the exercise of any other rights or remedies hereunder or thereunder by such party. Any amendment, termination, or waiver
effected in accordance with this Section 5.8 shall be binding on each party hereto and all of such party’s successors
and permitted assigns, regardless of whether or not any such party, successor or assignee entered into or approved such amendment,
termination, or waiver.

 

5.9 Titles and
Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of
any provision of this Agreement.

 

5.10 Waivers and
Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically
refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has
occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a
waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or
extension of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of
any other obligations or acts.

 

5.11 Remedies
Cumulative. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such
right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement
or now or hereafter available at law, in equity, by statute or otherwise.

 

5.12 Other Registration
Rights. The Company represents and warrants that no person, other than (i) a Holder of Registrable Securities and (ii) a holder
of securities of the Company that are registrable pursuant to the PIPE Subscription Agreements has any right to require the Company
to register any securities of the Company for sale or to include such securities of the Company in any Registration filed by the
Company for the sale of securities for its own account or for the account of any other person. Further, the Company represents and
warrants that, except with respect to the PIPE Subscription Agreements, this Agreement supersedes any other registration rights
agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or agreements and
this Agreement, the terms of this Agreement shall prevail. Notwithstanding the foregoing, the Company and the Holders hereby
acknowledge that EUSG has granted resale registration rights to certain holders of Company securities in the PIPE Subscription
Agreements, and that nothing herein shall restrict the ability of the Company to fulfil its resale registration obligations under
the PIPE Subscription Agreements.

 

5.13 Term. This
Agreement shall terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement and (ii) the date as
of which no Registrable Securities remain outstanding. The provisions of Section 3.5 and Article 4 shall survive
any termination.

 

[Signature Pages Follow]

 

    17

     

    

 

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

 

	 	COMPANY:
	 	 
	 	ADS-TEC ENERGY PLC
	 	 
	 	By:	 
	 	 	Name:	[●]
	 	 	Title:	[●]
	 	 	 	 
	 	EUSG:
	 	 
	 	EUROPEAN SUSTAINABLE GROWTH ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	[●]
	 	 	Title:	[●]

 

[Signature Page to Registration Rights
Agreement]

 

    

     

    

 

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

 

	 	HOLDERS:	 
	 	 	 	 
	 	LRT CAPITAL1 LLC
	 	 	 	 
	 	By LRT Capital LLC, its managing member
	 	 	 	 
	 	By:	 
	 	 	Name: 	Pieter Taselaar
	 	 	Title:	Manager
	 	 	 	 
	 	EARLYBIRDCAPITAL, INC.
	 	 	 	 
	 	By:	 
	 	 	Name:	Steven Levine
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	ABN AMRO SECURITIES (USA) LLC
	 	 	 	 
	 	By:	 
	 	 	Name:	Carlos Garza
	 	 	Title:	Managing Director
	 	 	 	 
	 	LHT INVEST AB
	 	 	 	 
	 	By:	 
	 	 	Name:	Lars Thunell
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	ADS-TEC HOLDING GMBH
	 	 	 	 
	 	By:	 
	 	 	Name:	[●]
	 	 	Title:	[●]
	 	 	 	 
	 	BOSCH THERMOTECHNIK GMBH
	 	 	 	 
	 	By:	 
	 	 	Name:	[●]
	 	 	Title:	[●]

 

[Signature Page to Registration Rights
Agreement]

 

    

     

    

 

SCHEDULE A

 

	Holder	Address	Number of Ordinary Shares	Number of Private Warrants
	LRT Capital1 LLC	
    789 Crandon Blvd.

    Key Biscayne, FL 33149
	[●]	[●]
	EarlyBirdCapital, Inc.	[●]	[●]	[●]
	ABN AMRO Securities (USA), LLC	[●]	[●]	[●]
	LHT Invest AB	[●]	[●]	[●]
	ads-tec Holding GmbH	
    Heinrich-Hertz-Str. 1

    72622 Nuertingen

    German
	[●]	[●]
	Bosch Thermotechnik GmbH	
    Sophienstrasse 30-32

    35576 Wetzlar

    Germany
	[●]	0Exhibit 10.7

 

FORM
OF 

 

LOCK-UP
AGREEMENT

 

THIS
LOCK-UP AGREEMENT (this “Agreement”) is made and entered into as of [●], between the parties listed on Schedule
A hereto (each such party, a “Holder” and collectively, the “Holders”) ads-tec
Energy plc, an Irish public limited company duly incorporated under the laws of Ireland (the “Company”). The Holder
and the Company are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Business Combination Agreement
(as defined below).

 

WHEREAS,
the Company, ads-tec Energy GmbH and European Sustainable Growth Acquisition Corp., among others, entered into a certain Business Combination
Agreement, dated [●], 2021 (as amended, modified, supplemented or waived from time to time in accordance with its terms, the “Business
Combination Agreement”), pursuant to which the parties thereto shall consummate the Transactions and upon consummation of the
Transactions, each Holder will hold such number of Irish Holdco Ordinary Shares and Irish Holdco Founders Warrants set forth beside such
Holder’s name on Schedule A (such shares and warrants, together with any ordinary shares that are issuable upon the exercise
or conversion of the private warrants, any securities paid as dividends or distributions with respect to such securities or into which
such securities are exchanged or converted, the “Securities”); and

 

WHEREAS,
pursuant to the Business Combination Agreement, and in view of the valuable consideration to be received by each Holder thereunder, the
Company and the Holders desire to enter into this Agreement, pursuant to which the Securities shall become subject to the limitations
on disposition and other restrictions as set forth herein.

 

NOW,
THEREFORE, in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below,
and intending to be legally bound hereby, the Parties hereby agree as follows:

 

		1.	For
                                            the purposes of this Agreement:

 

(a)
the term “Immediate Family” means, with respect to any natural person, any of the following: such person’s spouse,
the siblings of such person and his or her spouse, and the direct descendants and ascendants (including adopted and step children and
parents) of such person and his or her spouses and siblings;

 

(b)
the term “Lock-Up Securities” means the Securities and for the avoidance of any doubt shall exclude Irish Holdco Ordinary
Shares acquired in the public market after the Closing Date;

 

(c)
the term “Permitted Transferees” means any Person to whom the Holder is permitted to Transfer Lock-Up Securities prior
to the expiration of the Applicable Lock-Up Period, as the case may be, pursuant to Section 2(a);

 

(d)
the term “Representative Warrant Lock-Up Period” means, with respect to the Irish Holdco Founder Warrants issued to
the Representatives and any of the ordinary shares issuable upon the exercise of such Irish Holdco Founder Warrants, the period beginning
on the Closing Date and ending on the date that is thirty (30) days after the Closing Date;

 

(e)
the term “Representatives” means EarlyBirdCapital, Inc. and ABN AMRO Securities (USA) LLC;

 

    -1-

     

    

 

(f)
the term “Shares Lock-Up Period” means, with respect to the Irish Holdco Ordinary Shares (except for such Irish Holdco
Ordinary Shares issuable upon the exercise of the Private Placement Warrants), the period beginning on the Closing Date and ending on
the date that is six (6) months after the Closing Date;

 

(g)
the term “Sponsor Parties” means LRT Capital1 LLC and LHT Invest AB;

 

(h)
the term “Sponsor Warrant Lock-Up Period” means, with respect to the Irish Holdco Founder Warrants issued to the Sponsor
Parties and any of the ordinary shares issuable upon the exercise of such Irish Holdco Founder Warrants, the period beginning on the
Closing Date and ending on the date that is six (6) months after the Closing Date; and

 

(i)
the term “Transfer” means the (A) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant
of any option to purchase or otherwise dispose of or agreement to dispose of or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act, and the
rules and regulations promulgated thereunder, with respect to, any security, (B) entry into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be
settled by delivery of such securities, in cash or otherwise, or (C) public announcement of any intention to effect any transaction specified
in clause (A) or (B).

 

		2.	Lock-Up
                                            Provisions.

 

(a)
Notwithstanding the provisions set forth in Section 2(b), each Holder or any of its Permitted Transferees may Transfer any or
all of the Lock-Up Securities during the Share Lock-Up Period, the Representative Warrant Lock-Up Period or the Sponsor Warrant Lock-Up
Period, as the case may be (the “Applicable Lock-Up Period”):

 

		(i)	to
                                            such Holder’s officers, directors, management committee members or members;

 

		(ii)	to
                                            any Affiliate(s) of such Holder or any Affiliates of Holder’s officers, directors,
                                            management committee members or members;

 

		(iii)	in
                                            the case of an individual referred to in (i) or (ii) above, by gift to a member of such individual’s
                                            Immediate Family or to a trust, the beneficiary of which is a member of such individual’s
                                            Immediate Family or to a charitable organization or by virtue of laws of descent and distribution
                                            upon death of such individual;

 

		(iv)	any
                                            personalized portfolio bond issued by an insurance company that is beneficially owned by
                                            any individual referred to in (i) or (ii) above and in relation to which such person has
                                            the ability to direct the management assets comprising the bond portfolio;

 

		(v)	by
                                            virtue of any binding law or order of a governmental entity or by virtue of such Holder’s
                                            organizational documents upon liquidation or dissolution of such Holder;

 

		(vi)	pursuant
                                            to a bona fide tender offer, merger, consolidation or other similar transaction, in each
                                            case made to all holders of Irish Holdco Ordinary Shares, involving a change of Control (including
                                            negotiating and entering into an agreement providing for any such transaction), or

 

    -2-

     

    

 

		(vii)	bona
                                            fide pledges of Lock-Up Securities as security or collateral in connection with any borrowing
                                            or the incurrence of any indebtedness by a Holder;

 

provided
however, that in the case of clauses (i) through (vi), these Permitted Transferees must enter into a written agreement agreeing to
be bound by the provisions set forth in Section 2(b).

 

(b)
Each Holder hereby agrees that it shall not, and shall cause any of its Permitted Transferees not to, Transfer any Lock-Up Securities
during the Applicable Lock-Up Period (the “Transfer Restriction”).

 

(c)
During the Applicable Lock-Up Period, each certificate (if any are issued) evidencing any Lock-Up Securities shall be stamped or otherwise
imprinted with a legend in substantially the following form, in addition to any other applicable legends:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF [●],
BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”) AND THE ISSUER’S SECURITY HOLDER NAMED THEREIN, AS AMENDED.
A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

Promptly
upon the Transfer Restriction ceasing to apply in respect of the of Lock-Up Securities in accordance with Section 2(b), the Company
shall take all reasonable steps required to remove such legend from the certificates evidencing the relevant Lock-Up Securities, including
issuing new certificates in respect of the relevant Lock-Up Securities.

 

(d)
For the avoidance of any doubt, each Holder shall retain all of its rights as a shareholder of the Company with respect to the Lock-Up
Securities during the Applicable Lock-Up Period, including the right to vote, and to receive any dividends and distributions in respect
of, any Lock-Up Securities.

 

		3.	Miscellaneous.

 

(a)
Adjustment. The share prices referenced in this Agreement will be equitably adjusted on account of any changes in the equity securities
of the Company by way of stock split, stock dividend, combination or reclassification, or through merger, consolidation, reorganization,
recapitalization or business combination, or by any other means.

 

(b)
Transfers. If any Transfer is made or attempted contrary to the provisions of this Agreement, such Transfer shall be null and void ab
initio, and the Company shall refuse to recognize any such transferee of the Lock-Up Securities as one of its equity holders for any
purpose. In order to enforce this Section 3(b), the Company may impose stop-transfer instructions with respect to any relevant
Lock-Up Securities (and any permitted transferees and assigns thereof), as applicable, until the end of the Applicable Lock-Up Period.

 

    -3-

     

    

 

(c)
Termination of the Business Combination Agreement. Notwithstanding anything to the contrary contained herein, in the event that the Business
Combination Agreement is terminated in accordance with its terms prior to the Closing Date, this Agreement and all rights and obligations
of the Parties hereunder shall automatically terminate and be of no further force or effect.

 

(d)
Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties
hereto and their respective permitted successors and assigns. Except as otherwise provided in this Agreement, this Agreement and all
obligations of the Parties are personal to the Parties and may not be transferred or delegated by the Parties at any time.

 

(e)
Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions
contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person or entity that is not
a Party hereto or thereto or a successor or permitted assign of such a Party.

 

(f)
Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware as
applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, without giving effect to any
choice of law or conflict of law, provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the
application of the law of any jurisdiction other than the State of Delaware. Each Party hereto (a) irrevocably consents to the service
of the summons and complaint and any other process in any action or proceeding relating to the transactions contemplated by this Agreement,
for and on behalf of itself or any of its properties or assets, in accordance with this Section 3(f) or in such other manner as
may be permitted by applicable law, that such process may be served in the manner of giving notices in Section 3(i) and that nothing
in this Section 3(f) shall affect the right of any party to serve legal process in any other manner permitted by applicable law,
(b) irrevocably and unconditionally consents and submits itself and its properties and assets in any action or proceeding to the exclusive
jurisdiction of the Federal courts of the United States or the Court of Chancery of the State of Delaware, in the event any dispute or
controversy arises out of this Agreement or the transactions contemplated hereby, or for recognition and enforcement of any order in
respect thereof, (c) agrees that it will not attempt to deny or defeat such jurisdiction by motion or other request for leave from any
such court, (d) agrees that any actions or proceedings arising in connection with this Agreement or the transactions contemplated hereby
shall be brought, tried and determined only in the Federal courts of the United States or the courts of the State of Delaware, (e) waives
any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or
proceeding was brought in an inconvenient court and agrees not to plead or claim the same, and (f) agrees that it will not bring any
action or proceeding relating to this Agreement or the transactions contemplated hereby in any court other than the aforesaid courts.
Each Party hereto agrees that a final order in any action or proceeding in such courts as provided above shall be conclusive and may
be enforced in other jurisdictions by suit on the order or in any other manner provided by applicable law.

 

(g)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 3(g).

 

    -4-

     

    

 

(h)
Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or
interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and
vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting the generality
of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words “without limitation”;
(iii) the words “herein,” “hereto,” and “hereby” and other words of similar import in this Agreement
shall be deemed in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement;
and (iv) the term “or” means “and/or”. The Parties have participated jointly in the negotiation and drafting
of this Agreement. Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the Parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue
of the authorship of any provision of this Agreement.

 

(i)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly
given when delivered (i) in person, (ii) by e-mail (having obtained electronic delivery confirmation thereof), (iii) one (1) Business
Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days after being
mailed, if sent by registered or certified mail, pre-paid and return receipt requested, provided, however, that notice given pursuant
to clauses (iii) and (iv) above shall not be effective unless a duplicate copy of such notice is also given in person or by e-mail (having
obtained electronic delivery confirmation thereof), in each case to the applicable Party at the following addresses (or at such other
address for a Party as shall be specified by like notice):

 

	If
    to the Company, to:	 	With
    copies to (which shall not constitute notice):
	 	 	 
	ads-tec
    Energy plc	 	 
	10
    Earlsfort Terrace	 	Reed
    Smith LLP
	Dublin
    2	 	599
    Lexington Ave
	Attn:
    Pieter Taselaar	 	New
    York, NY 10022
	Email:
    ptaselaar@lucernecap.com	 	United
    States
	 	 	Attention:
    Ari Edelman
	 	 	Email:
    AEdelman@reedsmith.com
	 	 	 
	 	 	Reed
    Smith LLP
	 	 	2850
    N. Harwood St.
	 	 	Suite
    1500
	 	 	Dallas,
    TX 75201
	 	 	United
    States
	 	 	Attention:
    Lynwood Reinhardt
	 	 	Email:
    lreinhardt@reedsmith.com
	 	 	 
	 	 	Arthur
    Cox LLP
	 	 	10
    Earlsfort Terrace
	 	 	Dublin
    2
	 	 	D02
    T380
	 	 	Ireland
	 	 	Attention:
    Connor Manning
	 	 	Email:
    connor.manning@arthurcox.com

 

If
to a Holder, to the address set forth beside such Holder’s name on Schedule A hereto.  

 

    -5-

     

    

 

(j)
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the
Holders that own seventy percent (70%) or more of the Lock-Up Securities of the Holders; provided, however that notwithstanding
the foregoing, any amendment hereto or waiver hereto that adversely affects one or more Holders in a manner that is materially different
from the other Holders (in such capacity) shall require the consent of the adversely affected Holders that own a majority of the Lock-Up
Securities owned by such adversely affected Holders. No failure or delay by a Party in exercising any right hereunder shall operate as
a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall
be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

(k)
Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision
shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby
nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will substitute for any invalid, illegal
or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent
and purpose of such invalid, illegal or unenforceable provision.

 

(l)
Specific Performance. Each Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the
event of a breach of this Agreement by such Holder, money damages will be inadequate and the Company will have no adequate remedy at
law, and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by such
Holder in accordance with their specific terms or were otherwise breached. Accordingly, the Company shall be entitled to an injunction
or restraining order to prevent breaches of this Agreement by such Holder and to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition
to any other right or remedy to which such Party may be entitled under this Agreement, at law or in equity.

 

(m)
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the Parties with respect to the subject
matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the Parties is expressly
canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations of the Parties under
the Business Combination Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall limit any
of the rights or remedies of the Company or any of the obligations of the Holders under any other agreement between any Holder and the
Company, or any certificate or instrument executed by any Holder in favor of the Company, and nothing in any other agreement, certificate
or instrument shall limit any of the rights or remedies of the Company or any of the obligations of the Holders under this Agreement.

 

(n)
Further Assurances. From time to time, at another Party’s request and without further consideration (but at the requesting Party’s
reasonable cost and expense), each Party shall execute and deliver such additional documents and take all such further action as may
be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(o)
Counterparts; Facsimile. This Agreement may also be executed and delivered by facsimile signature or by email in portable document format
in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder
of Page Intentionally Left Blank]

 

    -6-

     

    

 

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

 

	 	COMPANY:
	 	 
	 	ADS-TEC
    ENERGY PLC
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	HOLDERS:
	 	 
	 	LRT
    CAPITAL1 LLC
	 	By
    LRT Capital LLC, its managing member
	 	 
	 	By:	 
	 	 	Name:
    	Pieter
    Taselaar
	 	 	Title:
    	Manager
	 	 
	 	EARLYBIRDCAPITAL,
    INC.
	 	 
	 	By:	 
	 	 	Name:
    	Steven
    Levine
	 	 	Title:
    	Chief
    Executive Officer
	 	 
	 	ABN
    AMRO SECURITIES (USA) LLC
	 	 
	 	By:	 
	 	 	Name:	Carlos
    Garza
	 	 	Title:
    	Managing
    Director
	 	 
	 	LHT
    INVEST AB
	 	 
	 	By:	 
	 	 	Name:	Lars
    Thunell
	 	 	Title:
    	Authorized
    Signatory
	 	 
	 	ADS-TEC
    HOLDING GMBH
	 	 
	 	By:	 
	 	 	Name:	[●]
	 	 	Title:
    	[●]
	 	 
	 	BOSCH
    THERMOTECHNIK GMBH
	 	 
	 	By:	 
	 	 	Name:
    	[●]
	 	 	Title:	[●]

 

     

     

    

 

SCHEDULE
A

 

	Holder	Address	Number
    of Irish Holdco Ordinary Shares	Number
    of Irish Holdco Founders Warrants
	LRT
    Capital1 LLC	73
    Arch St.

    Greenwich,
    CT 06830
	[●]	[●]
	EarlyBirdCapital,
    Inc.	[●]	[●]	[●]
	ABN
    AMRO Securities (USA), LLC	[●]	[●]	[●]
	LHT
    Invest AB	Väringavägen
    18

    18263
    Djursholm

    Sweden
	[●]	[●]
	ads-tec
    Holding GmbH (“ADSH”)	Heinrich-Hertz-Str.
    1

    72622
    Nuertingen

    Germany
	[●]*	[●]
	Bosch
    Thermotechnik GmbH (“Bosch”)	Sophienstrasse
    30-32

    35576
    Wetzlar

    Germany
	[●]†	[●]

 

		*Shall	not
                                            include [●] Irish Holdco Ordinary Shares that ADSH will receive in the SPAC Merger
                                            in connection with the SPAC Class A Ordinary shares ADSH committed to purchase pursuant to
                                            the terms and subject to the conditions of that certain Subscription Agreement dated [●]
                                            by and between EUSG and ADSH.

 

		†	Shall
                                            not include [●] Irish Holdco Ordinary Shares that Bosch will receive in the SPAC Merger
                                            in connection with the SPAC Class A Ordinary Shares ADSH committed to purchase pursuant to
                                            the terms and subject to the conditions of that certain Subscription Agreement dated [●]
                                            by and between EUSG and Bosch.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}]]