Document:

Exhibit 10.1

		

			Exhibit 10.1

		

		
			EMPLOYMENT AGREEMENT
		

		
			THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of October 6, 2022 (the “Effective Date”), by and between Michael Morrison (“Executive”) and NCS Multistage Holdings, Inc. (the “Company”).
		

		
			WHEREAS, the Company desires to employ the Executive and the Executive desires to be employed by the Company, on the terms set forth in this Agreement.
		

		
			NOW,  THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
		

			
	
			
				 1.
			Employment Term.  The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed with the Company, upon the terms and conditions contained in this Agreement.  Executive’s employment with the Company pursuant to this Agreement shall commence on October 17, 2022 (the “Appointment Date”) and shall continue until the third anniversary of the Appointment Date (the “Initial Term”) unless earlier terminated pursuant to Section 8;  provided, that the term of this Agreement shall automatically be extended for one (1) additional year commencing on the third anniversary of the Appointment Date and on each anniversary thereafter (each, a “Renewal Term”) unless, not less than ninety (90) days prior to the commencement of any such Renewal Term, either party shall have given written notice to the other that it does not wish to extend this Agreement (a “Non-Renewal Notice”), in which case, Executive’s employment under this Agreement shall terminate upon the close of business on the last day of the Initial Term or the then-current Renewal Term, as applicable.  The period during which Executive is employed by the Company pursuant to this Agreement is hereinafter referred to as the “Term.”

			
	
			
				 2.
			Employment Duties.  Starting on or around November 3, 2022, Executive shall have the title of Chief Financial Officer of the Company and shall have such duties, authorities and responsibilities as are consistent with such position and as the Chief Executive Officer may designate from time to time.  Executive shall report to the Chief Executive Officer.  Executive shall devote Executive’s full working time and attention to Executive’s employment and service with the Company and shall perform Executive’s services in a capacity and in a manner consistent with Executive’s position for the Company; provided, that this Section 2 shall not be interpreted as prohibiting Executive from (i) managing Executive’s personal investments (so long as such investment activities are of a passive nature), (ii) engaging in charitable or civic activities, (iii) participating on boards of directors or similar bodies of non-profit organizations, or (iv) subject to approval by the Board of Directors of the Company (the “Board”) in its sole and absolute discretion, participating on boards of directors or similar bodies of for-profit organizations, in each case of (i) – (iv), so long as such activities do not, individually or in the aggregate, (a) materially interfere with the performance of Executive’s duties and responsibilities hereunder, (b) create a fiduciary conflict, or (c) result in a violation of Section 13 of this Agreement.  If requested, Executive shall also serve as an executive officer and/or board member of the board of directors (or similar governing body) of any entity that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company (an “Affiliate”) without any additional compensation; for purposes of this Agreement, “Affiliate” shall not include other entities under common control with Advent International other than the Company and its Affiliates.  

		 

 

		

			 

		

			
	
			
				 3.
			Base Salary.  During the Term, the Company shall pay Executive a base salary at an annual rate of $325,000, payable in accordance with the Company’s normal payroll practices for employees as in effect from time to time.  Executive shall be entitled to such increases in base salary, if any, as may be determined from time to time in the sole discretion of the Board.  Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “Base Salary.”   

			
	
			
				 4.
			Annual Bonus.  With respect to each calendar year during the Term, Executive shall be eligible to earn an annual cash bonus award (the “Annual Bonus”) pursuant to the Company’s then annual cash bonus plan, with a target Annual Bonus of seventy percent (70%) of Base Salary (“Target Bonus”) up to a maximum Annual Bonus of two hundred percent (200%) of Base Salary, based upon the achievement of annual performance targets established by the Board at the beginning of each such calendar year.  The Annual Bonus, if any, for each calendar year during the Term shall be paid to Executive at the same time that other senior executives of the Company receive annual bonus payments, but in no event earlier than February 15 and in no event later than March 31 of the year following the calendar year to which such Annual Bonus relates. Executive shall not be paid any Annual Bonus with respect to a calendar year unless Executive is employed with the Company on the day such Annual Bonus is paid.

		
			5.Equity Awards and Benefits.  During the Term, Executive shall be eligible to participate in the Company’s 2017 Equity Incentive Plan or any successor plan as determined by the Board or Compensation Committee and shall be entitled to participate in any benefit plans, including medical, disability and life insurance (but excluding any severance or bonus plans unless specifically referenced in this Agreement) offered by the Company as in effect from time to time (collectively, “Benefit Plans”), on the same basis as those generally made available to other senior executives of the Company, to the extent consistent with applicable law and the terms of the applicable Benefit Plan. The Company does not promise the adoption or continuance of any particular Benefit Plan and reserves the right to amend or cancel any Benefit Plan at any time in its sole discretion (subject to the terms of such Benefit Plan and applicable law).
		

		
			6.Vacation.  Executive shall be entitled to five weeks of annual paid vacation days, or such greater amount as may be allowed in accordance with Company plans, policies, programs and practices as may be in effect from time to time, which shall accrue and be useable by Executive in accordance with Company policy.
		

		
			7.Expense Reimbursement.  The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business, entertainment and travel expenses incurred by the Executive in connection with the performance of the Executive's duties hereunder in accordance with the Company's expense reimbursement policies and procedures.
		

		
			8.Termination of Employment.  The Term and Executive’s employment hereunder may be terminated as follows:
		

		
			(a)Automatically in the event of the death of Executive;
		

		
			(b)At the option of the Company, by written notice to Executive or Executive’s personal representative in the event of the Disability of Executive.  As used herein, the term “Disability”  shall mean Executive’s inability to perform the essential duties, responsibilities, and 
		
		
 

		

			2

		

		

			 

		

 

		

			 

		

		functions of his position with the Company as a result of any mental or physical disability or incapacity for a length of time that the Company determines is sufficient to satisfy such obligations as it may have to provide leave under applicable family and medical leave laws and/or “reasonable accommodation” under applicable federal, state or local disability laws.  Family and medical leave or disability leave provided under federal, state or local law may be unpaid as per the requirements of such laws; provided,  however, that Executive shall be entitled to such payments and benefits under the Company’s sick leave or disability leave programs as per the terms of such programs.  The Company may terminate Executive’s active employment because of a Disability by giving written notice to Executive at any time effective at or within twenty (20) days after the end period of leave as may be required under the family and medical leave laws or under federal, state or local disability laws, but the Company shall retain Executive as an inactive employee if necessary to maintain Executive’s eligibility for any disability leave benefits.  A reduction or elimination of the duties defined in Section 2 during the period Executive is designated as an inactive employee shall not constitute Good Reason. In the event of a dispute over the occurrence of a Disability, Executive agrees to submit to an examination by a doctor selected by the Company who will determine fitness for duties as defined in Section  2 above.  If Executive’s physician disagrees with the Company’s physician’s opinion, a third physician, mutually agreed upon by Executive and the Company, shall examine Executive and that physician’s opinion shall be conclusive as to Executive’s fitness for duty;   

		
		
			(c)At the option of the Company for Cause, by delivering prior written notice to Executive;
		

		
			(d)At the option of the Company at any time without Cause, by delivering written notice of its determination to terminate to Executive;
		

		
			(e)At the option of Executive for Good Reason; 
		

		
			(f)At the option of Executive without Good Reason, upon sixty (60) days prior written notice to the Company (which the Company may, in its sole discretion, make effective earlier than the termination date provided in such notice); or
		

		
			(g)Upon the close of business on the last day of the Initial Term or the then-current Renewal Term, as applicable, as a result of a Non-Renewal Notice.
		

		
			9.Payments by Virtue of Termination of Employment.
		

		
			(a)Termination by the Company Without Cause, by Executive For Good Reason or Pursuant to Non-Renewal Notice by the Company.  If Executive’s employment is terminated at any time during the Term by the Company without Cause, by Executive for Good Reason or pursuant to a Non-Renewal Notice by the Company at the expiration of the Initial Term or any Renewal Term, subject to Section 9(d) of this Agreement, Executive shall be entitled to:
		

		
			(i)(A) within thirty (30) days following such termination, (i) payment of Executive’s accrued and unpaid Base Salary (ii) payment of any earned but unpaid Annual Bonus for the fiscal year prior to the year of termination, payable at the same time annual bonuses are paid to other similarly situated employees of the Company and (iii) reimbursement of expenses under Section 7  of this Agreement, in each case of (i) and (ii), accrued through the date of 
		
		
 

		

			3

		

		

			 

		

 

		

			 

		

		termination and (B) all other accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans, programs or policies (other than severance); and

		
		
			(ii)(A) an amount equal to one (1) times the sum of (i) Executive’s Base Salary as in effect immediately prior to Executive’s date of termination and (ii) Executive’s Target Bonus, which amount shall be payable during the twelve (12) months commencing on the date of termination (the “Severance Period”) in substantially equal installments in accordance with the Company’s regular payroll practices as in effect from time to time, (B) a lump sum amount equal to the pro-rated Annual Bonus the Executive would otherwise have received for the fiscal year in which the Executive’s termination of employment occurs, based on actual performance during the performance period and the number of days Executive was employed during the performance period, payable when annual bonuses are paid to other similarly situated executives of the Company in the year following the year in which the Executive’s termination occurs, (C) notwithstanding anything to the contrary in an award agreement governing the Executive’s equity incentive awards, Executive’s unvested equity incentive awards that are outstanding on the Executive’s termination date shall remain outstanding and eligible to vest on the same vesting schedule set forth in the applicable award agreement, subject to the Executive’s compliance with Section 13 through each applicable vesting date, and any stock options that vest following the Executive’s termination date may be exercised for ninety (90) days following the applicable vesting date and will be forfeited if not exercised during such period, (D) if Executive timely elects coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and to the extent permitted by applicable law and provided the Company is able to provide such benefits without the imposition on the Company of any tax or penalty, a cash payment equal to the full premium for actively employed executives of the Company with the same level of coverage, payable monthly in accordance with the Company’s standard payroll practices for twenty-four (24) months or until such earlier termination of COBRA coverage; provided, that the first payment pursuant to this Section 9(a)(ii) shall be made on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination and shall include payment of any amounts that would otherwise be due prior thereto. In the event of Executive’s death during the Severance Period, any payments to be made pursuant to this Section 9(a)(ii) shall be paid to the Executive’s legal representative.
		

		
			(b)Termination by the Company Without Cause, by Executive For Good Reason or Pursuant to Non-Renewal Notice by the Company, each within Twenty-Four (24) Months Following a Change of Control.  If Executive’s employment is terminated within twenty-four (24) months following a Change of Control (as defined in the Company’s 2017 Equity Incentive Plan) by the Company without Cause, by Executive for Good Reason or pursuant to a Non-Renewal Notice by the Company at the expiration of the Initial Term or any Renewal Term, subject to Section 9(d) of this Agreement, Executive shall be entitled to:
		

		
			(i)the payments and benefits described under Section 9(a)(i) of this Agreement; and
		

		
			(ii)(A) an amount equal to two (2) times the sum of (i) Executive’s Base Salary as in effect immediately prior to Executive’s date of termination and (ii) Executive’s Target Bonus, which amount shall be payable during the twelve (12) months commencing on the date of termination (the “Change of Control Severance Period”) in substantially equal installments in accordance with the Company’s regular payroll practices as in effect from time to time, (B) a lump 
		
		
 

		

			4

		

		

			 

		

 

		

			 

		

		sum amount equal to the pro-rated Annual Bonus the Executive would otherwise have received for the fiscal year in which the Executive’s termination of employment occurs, based on actual performance during the performance period and the number of days Executive was employed during the performance period, payable when annual bonuses are paid to other similarly situated executives of the Company in the year following the year in which the Executive’s termination occurs, (C) notwithstanding anything to the contrary in an award agreement governing the Executive’s equity incentive awards, the Executive’s unvested equity incentive awards that are outstanding as of the Executive’s termination date shall fully vest on the termination date, (D) if Executive timely elects coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and to the extent permitted by applicable law and provided the Company is able to provide such benefits without the imposition on the Company of any tax or penalty, a cash payment equal to the full premium for actively employed executives of the Company with the same level of coverage, payable monthly in accordance with the Company’s standard payroll practices for twenty-four (24) months or until such earlier termination of COBRA coverage; provided, that the first payment pursuant to this Section 9(b)(ii) shall be made on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination and shall include payment of any amounts that would otherwise be due prior thereto. In the event of Executive’s death during the Change of Control Severance Period, any payments to be made pursuant to this Section 9(b)(ii) shall be paid to the Executive’s legal representative.

		
		
			(c)Termination other than by the Company Without Cause or by Executive For Good Reason.  If (i) the Company terminates Executive’s employment for Cause during the Term, (ii) Executive terminates Executive’s employment without Good Reason during the Term, or (iii) Executive’s employment terminates during the Term due to death or Disability, Executive or Executive’s legal representatives, as applicable, shall be entitled to receive the payments and benefits described under Section 9(a)(i) of this Agreement.  In addition, if the Executive’s employment terminates during the Term due to death or Disability, Executive or Executive’s legal representatives, as applicable, shall be entitled to receive a lump sum amount equal to the pro-rated Annual Bonus the Executive would otherwise have received for the fiscal year in which the Executive’s termination of employment occurs, based on actual performance during the performance period and the number of days Executive was employed during the performance period, payable when annual bonuses are paid to other similarly situated executives of the Company in the year following the year in which the Executive’s termination occurs.
		

		
			(d)Conditions to Payment.  All payments and benefits due to Executive under this Section 9 which are not otherwise required by applicable law shall be payable only if Executive executes and delivers to the Company a general release of claims in the form attached hereto as Exhibit A, which may be updated by the Company from time to time to reflect changes in law and such release is no longer subject to revocation (to the extent applicable), in each case, within sixty (60) days following termination of employment.  Failure to timely execute and return such release or the revocation of such release during the revocation period shall be a waiver by Executive of Executive’s right to severance (which, for the avoidance of doubt, shall not include any amounts described in Section 9(a)(i) of this Agreement).  In addition, severance shall be conditioned on Executive’s compliance with Section 11 of this Agreement, and on Employee’s continued compliance with Section 13 of this Agreement as provided in Section 15 below.
		

		 

		

			5

		

		

			 

		

 

		

			 

		

		
			(e)No Other Severance.  Executive hereby acknowledges and agrees that, other than the severance payments described in this Section 9, upon the effective date of the termination of Executive’s employment, Executive shall not be entitled to any other severance payments or benefits of any kind under any Company benefit plan, severance policy generally available to the Company’s employees or otherwise and all other rights of Executive to compensation under this Agreement shall end as of such date.
		

		
			10.Definitions.  For purposes of this Agreement, 
		

		
			(a)“Cause” shall mean, (i) Executive’s indictment for, conviction of, or a plea of guilty or no contest to, any indictable criminal offence or any other criminal offence involving fraud, misappropriation or moral turpitude, (ii) Executive’s continued failure to materially perform Executive’s duties hereunder (for any reason other than illness or physical or mental incapacity) or a material breach of fiduciary duty, (iii) Executive’s theft, fraud, or dishonesty with regard to the Company or any of its Affiliates or in connection with Executive’s duties, (iv) Executive’s material violation of the Company’s code of conduct or similar written policies, (v) Executive’s willful misconduct unrelated to the Company or any of its Affiliates having, or likely to have, a material negative impact on the Company or any of its Affiliates (economically or its reputation), (vi) an act of gross negligence or willful misconduct by the Executive that relates to the affairs of the Company or any of its Affiliates, or (vii) material breach by Executive of any provisions of this Agreement.
		

		
			(b)“Good Reason” shall mean, without Executive’s consent, (i) any material diminution in Executive’s responsibilities, authorities, title, reporting structure or duties, (ii) any material reduction in Executive’s (x) Base Salary or (y) target Annual Bonus opportunity (except in the event of an across the board reduction in Base Salary or target Annual Bonus opportunity of up to 10%, applicable to substantially all senior executives of the Company), (iii) a relocation of Executive’s principal place of employment by more than fifty (50) miles from the location of Executive’s principal place of employment on the Appointment Date and such principal place of employment is more than fifty (50) miles from Executives principal residence or (iv) a material breach by the Company of any material provisions of this Agreement; provided, that no event described in clause (i), (ii), (iii) or (iv) shall constitute Good Reason unless (A) Executive has given the Company written notice of the termination, setting forth the conduct of the Company that is alleged to constitute Good Reason, within sixty (60) days following the occurrence of such event, and (B) Executive has provided the Company at least sixty (60) days following the date on which such notice is provided to cure such conduct and the Company has failed to do so.  Failing such cure, a termination of employment by Executive for Good Reason shall be effective on the day following the expiration of such cure period.
		

		
			11.Return of Company Property.  Within ten (10) days following the effective date of Executive’s termination for any reason, Executive, or Executive’s personal representative shall return all property of the Company or any of its Affiliates in Executive’s possession, including, but not limited to, all Company-owned computer equipment (hardware and software), telephones, facsimile machines, tablet computers and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies (including drafts) of any documentation or information (however stored) relating to the business of the Company or any of its Affiliates, the Company’s or any of its Affiliates’ customers and clients or their respective 
		
		
 

		

			6

		

		

			 

		

 

		

			 

		

		prospective customers or clients.  Notwithstanding the foregoing, Executive shall be entitled to retain Executive’s cell phone number, a copy of this Agreement and Executive’s calendar.

		
		
			12.Resignation as Officer or Director.  Upon the effective date of Executive’s termination, Executive shall be deemed to have resigned from Executive’s position and, to the extent applicable, as an officer of the Company, as a member of the board of directors or similar governing body of the Company or any of its Affiliates, and as a fiduciary of any Company benefit plan.  On or immediately following the effective date of any such termination of Executive’s employment, Executive shall confirm the foregoing by submitting to the Company in writing a confirmation of Executive’s resignation(s).
		

		
			13.Confidentiality; Non-Solicitation; Non-Competition.
		

		
			(a)Confidential and Proprietary Information.  Executive agrees that all materials and items produced or developed by Executive for the Company or any of its Affiliates, or obtained by Executive from the Company or any of its Affiliates either directly or indirectly pursuant to this Agreement shall be and remains the property of the Company and its Affiliates.  Executive acknowledges that he will, during Executive’s association with the Company, acquire, or be exposed to, or have access to, materials, data and information that constitute valuable, confidential and proprietary information of the Company and its Affiliates, including, without limitation, any or all of the following:  business plans, practices and procedures, pricing information, sales figures, profit or loss figures, this Agreement and its terms, information relating to customers, clients, intellectual property, suppliers, technology, sources of supply and customer lists, research, technical data, trade secrets, or know-how, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, finances, policies, training manuals and similar materials used by the Company in conducting its business operations, personnel information of any Person employed by the Company, potential business combinations, and such other information or material as the Company may designate as confidential and/or proprietary from time to time (collectively hereinafter, the “Confidential and Proprietary Information”).  During Executive’s employment with the Company and at all times thereafter, Executive shall not, directly or indirectly, use, misuse, misappropriate, disclose or make known, without the prior written approval of the Board, to any party, firm, corporation, association or other entity, any such Confidential and Proprietary Information for any reason or purpose whatsoever, except as may be required in the course of Executive’s performance of Executive’s duties hereunder.  In consideration of the unique nature of the Confidential and Proprietary Information, all obligations pertaining to the confidentiality and nondisclosure thereof shall remain in effect until the Company and its Affiliates have released such information; provided, that the provisions of this Section 13(a) shall not apply to the disclosure of Confidential and Proprietary Information to the Company’s Affiliates together with each of their respective shareholders, directors, officers, accountants, lawyers and other representatives or agents, nor to a Permitted Disclosure as defined in Section 13(b) below.  In addition, it shall not be a breach of the confidentiality obligations hereof if Executive is required by applicable law to disclose any Confidential and Proprietary Information; provided, that in such case, Executive shall (x) give the Company the earliest notice possible that such disclosure is or may be required and (y) cooperate with the Company, at the Company’s expense, in protecting to the maximum extent legally permitted, the confidential or proprietary nature of the Confidential and Proprietary Information which must be so disclosed.  Upon termination of Executive’s 
		
		
 

		

			7

		

		

			 

		

 

		

			 

		

		employment, Executive agrees that all Confidential and Proprietary Information, directly or indirectly, in Executive’s possession that is in writing or other tangible form (together with all duplicates thereof) will promptly (and in any event within ten (10) days following such termination) be returned to the Company and will not be retained by Executive or furnished to any person, either by sample, facsimile film, audio or video cassette, electronic data, verbal communication or any other means of communication. 

		
		
			(b)Permitted Disclosure.  This Agreement does not limit or interfere with Executive’s right, without notice to or authorization of the Company, to communicate and cooperate in good faith with any self-regulatory organization or U.S. federal, state, or local governmental or law enforcement branch, agency, commission, or entity (collectively, a “Government Entity”) for the purpose of (i) reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Entity, including by providing documents or other information, or (iii) filing a charge or complaint with a Government Entity, provided that in each case, such communications, participation, and disclosures are consistent with applicable law.  Additionally, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  If Executive files a lawsuit for retaliation by an employer for reporting a suspected violation of law, Executive may disclose the trade secret to the Executive’s attorney and use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order.  All disclosures permitted under this Section 13(b) are herein referred to as “Permitted Disclosures.”  Notwithstanding the foregoing, under no circumstance will Executive be authorized to disclose any Confidential and Proprietary Information as to which the Company may assert protections from disclosure under the attorney-client privilege or the attorney work product doctrine, without prior written consent of Company’s General Counsel or other authorized officer designated by the Company.
		

		
			(c)Non-Solicitation. As described in Section 13(a) above, the Company will provide Executive with confidential information during the term of this Agreement.  In exchange for the provision of this confidential information, and as a part of and aid to the enforcement of Executive’s obligations to keep such information confidential, Executive agrees that during the Restricted Period (defined below), the Executive will not, without written consent of the Company, directly or indirectly, including causing, encouraging, directing or soliciting any other Person (defined below) to, contact, approach or solicit (except as so long as the Executive continues to be employed by the Company and makes such contact, approach or solicitation on behalf of the Company and excluding offspring of the Executive) for the purpose of offering employment to or hiring (whether as an employee, consultant, agent, independent contractor or otherwise) or actually hire any non-union Person who is or has been employed or retained in the operation of the Business (defined below) by the Company or its Affiliates during the period commencing one (1) year prior to the date hereof and ending on the date of termination of the Restricted Period, or induce, interfere with or solicit, or attempt to induce, interfere with or solicit, any Person that is a current or former customer, supplier or other business relation of the Company or its Affiliates into any business relationship that might harm the Business. The restrictions in this Section 13(c) shall not 
		
		
 

		

			8

		

		

			 

		

 

		

			 

		

		prohibit a general solicitation to the public through general advertising or similar methods of solicitation by search firms not specifically directed at employees of the Company (but the restrictions shall still apply to the hiring of any person who responds to such general solicitation). “Restricted Period” means the period beginning on the date of this Agreement and ending on the one (1) year anniversary of the date on which the Executive’s employment is terminated.  “Person” means an individual, a partnership, a corporation, an association, a limited liability company, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof. “Business” means the business of developing, manufacturing, selling, marketing, servicing and licensing fracturing completions technology.

		
		
			(d)Non-Competition.  As described in Section 13(a) above, the Company will provide Executive with confidential information during the term of this Agreement.  In exchange for the provision of this confidential information, and as a part of and aid to the enforcement of Executive’s obligations to keep such information confidential, Executive agrees that during the Restricted Period, the Executive will not, within or with respect to the geographical area of the United States, Canada, and any of the other states, provinces or territories within the United States or Canada and any other country, territory, province or state in which the Company operates (including by contracting with customers or suppliers) or could reasonably be anticipated to operate during the Restricted Period (the “Restricted Area”), except in the furtherance of the Company’s  Business directly or indirectly own, operate, lease, manage, control, participate in, consult with, advise, permit the Executive’s name to be used by, provide services for, or in any manner engage in (x) any business (including by the Executive or in association with any Person) that creates, designs, invents, engineers, develops, sources, markets, manufactures, distributes or sells any product or provides any service in or into the Restricted Area that may be used as a substitute for or otherwise competes with either the Company’s Business or any product or service of the Company carried out during the period commencing two (2) years prior to the date hereof and ending on the date of termination of the Restricted Period or contemplated during such period to be carried out by the Company or any of its Affiliates, (y) any business (including by the Executive or in association with any Person) that provides services or products to any current or former customer of the Company or its Affiliates that are similar to or competitive with the services or products provided by the Company or its Affiliates to such current or former customers or (z) any activity that is in competition with the Company’s Business or any other business of the Company or any of its Affiliates; provided that nothing in this Section 13(d) shall be deemed to diminish, amend, affect or otherwise modify any other non-competition agreement or covenant binding on the Executive.  Nothing in this Section 13(d) shall prohibit the Executive from owning securities having no more than 2% of the outstanding voting power of any publicly traded competitor, or participating as a passive investor in a private investment fund so long as such Executive does not have any active or managerial roles with respect to such investment, and such private investment fund does not own more than 2% of any publicly traded company engaged in the Company’s Business. 
		

		
			(e)Nondisparagement.  The Executive agrees not to disparage the Company, its Affiliates or predecessors, or their past and present investors, officers, directors or employees, or any of their Affiliates.  Nothing in this Section 13(e) shall interfere with Executive’s ability to make the Permitted Disclosures as defined in Section 13(b) above.  The Company and its Affiliates agree not to disparage Executive.
		

		 

		

			9

		

		

			 

		

 

		

			 

		

		
			(f)Acknowledgement.  Executive acknowledges, agrees and stipulates that: (i) the terms and provisions of this Agreement are reasonable and constitute an otherwise enforceable agreement to which the terms and provisions of Sections 13(c) and 13(d) are ancillary or a part of as contemplated by TEX. BUS. & COM. CODE ANN. Sections 15.50-15.52; (ii) the consideration provided by the Company under this Agreement is not illusory; and (iii) the consideration given by the Company under this Agreement, including, without limitation, the provision by the Company of confidential information to the Executive as contemplated by Section 13(a), gives rise to the Company's interest in restraining and prohibiting the Executive from engaging in the activities described in Sections 13(c) and 13(d), and Executive's covenant not to engage in these activities is designed to enforce Executive's consideration (or return promises), including, without limitation, Executive's promise to not disclose confidential information under this Agreement.  
		

		
			(g)Tolling.  In the event of any violation of the provisions of this Section 13, Executive acknowledges and agrees that the post-termination restrictions contained in this Section 13 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the applicable post-termination restriction period shall be tolled during any period of such violation.
		

		
			14.Cooperation.  From and after an Executive’s termination of employment, Executive shall provide Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s employment hereunder, provided, that the Company shall reimburse Executive for Executive’s reasonable costs and expenses (including legal counsel selected by Executive and reasonably acceptable to the Company) and such cooperation shall not unreasonably burden Executive or unreasonably interfere with any subsequent employment that Executive may undertake.
		

		
			15.Injunctive Relief and Specific Performance.  Executive understands and agrees that Executive’s covenants under Sections 11, 13 and 14 are special and unique and that the Company and its Affiliates may suffer irreparable harm if Executive breaches any of Sections 11, 13, or 14 because monetary damages would be inadequate to compensate the Company and its Affiliates for the breach of any of these sections.  Accordingly, Executive acknowledges and agrees that the Company shall, in addition to any other remedies available to the Company at law or in equity, be entitled to obtain specific performance and injunctive or other equitable relief by a federal or state court in Texas to enforce the provisions of Sections 11, 13 and/or 14 without the necessity of posting a bond or proving actual damages, without liability should such relief be denied, modified or vacated, and to obtain attorney’s fees in respect of the foregoing if the Company prevails in any such action or proceeding.  Additionally, in the event of a breach or threatened breach by Executive of Section 13, in addition to all other available legal and equitable rights and remedies, the Company shall have the right to cease making payments, if any, being made pursuant to Section 9(a)(ii) or Section 9(b)(ii), as applicable, hereunder.  Executive also recognizes that the territorial, time and scope limitations set forth in Section 13 are reasonable and are properly required for the protection of the Company and its Affiliates and in the event that any such territorial, time or scope limitation is deemed to be unreasonable by a court of competent jurisdiction, the Company and Executive agree, and Executive submits, to the reduction of any or all of said territorial, time or scope limitations to such an area, period or scope as said court shall deem reasonable under the circumstances.
		

		 

		

			10

		

		

			 

		

 

		

			 

		

		
			16.Section 280G.  Notwithstanding anything to the contrary in this Agreement, if Executive is a “disqualified individual” (as defined in section 280G(c) of the Internal Revenue Code of 1986, as amended (the “Code”)), and the payments and benefits provided for in this Agreement, together with any other payments and benefits which Executive has the right to receive from the Company or any of its affiliates, would constitute a “parachute payment” (as defined in section 280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below zero) so that the present value of such total amounts and benefits received by Executive from the Company and its affiliates will be one dollar ($1.00) less than three times Executive’s “base amount” (as defined in section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by Executive shall be subject to the excise tax imposed by section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to Executive (taking into account any applicable excise tax under section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder in a similar order. The determination as to whether any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by the Company in good faith. If a reduced payment or benefit is made or provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the Company (or its affiliates) used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times Executive’s base amount, then Executive shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in this Section 16 shall require the Company to be responsible for, or have any liability or obligation with respect to, Executive’s excise tax liabilities under section 4999 of the Code. 
		

		
			17.Miscellaneous.
		

		
			(a)All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (i) certified mail, postage and fees prepaid, or (ii) nationally recognized overnight express mail service, as follows:
		

		
			If to the Company:
		

		
			NCS Multistage Holdings, Inc.
		

		
			19350 State Highway 249, Suite 600
		

		
			Houston, TX 77070
		

		
			Email: olev@ncsmultistage.com and legal@ncsmultistage.com
		

		
			To: General Counsel
		

		
			
With a copy to which shall not constitute notice to:
		

		
			﻿
		

		
			Weil, Gotshal & Manges, LLP
		

		
			100 Federal Street, Floor 34
		

		
			Boston, Massachusetts 02110
		

		
			Fax: 617-772-8333
		

		
			Email: Marilyn.French@weil.com
		

		
			Attention: Marilyn French
		

		

		

		 

		

			11

		

		

			 

		

 

		

			 

		

		﻿
		

		
			﻿
		

		
			If to Executive:
		

		
			﻿
		

		
			At Executive’s home address, as then shown in the Company’s personnel records, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.
		

		
			﻿
		

		
			(b)This Agreement is personal to the Executive and shall not be assigned by the Executive.  Any purported assignment by the Executive shall be null and void from the initial date of the purported assignment.  The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and its successors and assigns.    
		

		
			(c)This Agreement contains the entire agreement between the parties with respect to the subject matter hereof supersedes all other agreements, term sheets, offer letters, and drafts thereof, oral or written, between the parties hereto with respect to the subject matter hereof.  No promises, statements, understandings, representations or warranties of any kind, whether oral or in writing, express or implied, have been made to Executive by any person or entity to induce Executive to enter into this Agreement other than the express terms set forth herein, and Executive is not relying upon any promises, statements, understandings, representations, or warranties other than those expressly set forth in this Agreement.
		

		
			(d)No change or modification of this Agreement shall be valid unless the same shall be in writing and signed by all of the parties hereto.  No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver.  No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, unless so provided in the waiver.
		

		
			(e)If any provisions of this Agreement (or portions thereof) shall, for any reason, be held invalid or unenforceable, such provisions (or portions thereof) shall be ineffective only to the extent of such invalidity or unenforceability, and the remaining provisions of this Agreement (or portions thereof) shall nevertheless be valid, enforceable and of full force and effect.  If any court of competent jurisdiction finds that any restriction contained in this Agreement is invalid or unenforceable, then the parties hereto agree that such invalid or unenforceable restriction shall be deemed modified so that it shall be valid and enforceable to the greatest extent permissible under law, and if such restriction cannot be modified so as to make it enforceable or valid, such finding shall not affect the enforceability or validity of any of the other restrictions contained herein.
		

		
			(f)This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party.  In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.
		

		 

		

			12

		

		

			 

		

 

		

			 

		

		
			(g)The section or paragraph headings or titles herein are for convenience of reference only and shall not be deemed a part of this Agreement.  The parties have jointly participated in the drafting of this Agreement, and the rule of construction that a contract shall be construed against the drafter shall not be applied.  The terms “including,” “includes,” “include” and words of like import shall be construed broadly as if followed by the words “without limitation.”  The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found.  
		

		
			(h)Notwithstanding anything to the contrary in this Agreement:
		

		
			(i)The parties agree that this Agreement shall be interpreted to comply with or be exempt from section 409A of the Code and the regulations and authoritative guidance promulgated thereunder to the extent applicable (collectively “Section 409A”), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.  In no event whatsoever will the Company, any of its Affiliates, or any of their respective directors, officers, agents, attorneys, employees, executives, shareholders, investors, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors or assigns be liable for any additional tax, interest or penalties that may be imposed on Executive under Section 409A or any damages for failing to comply with Section 409A.
		

		
			(ii)A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under Section 409A  upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “resignation,” “termination,” “terminate,” “termination of employment” or like terms shall mean separation from service.  If any payment, compensation or other benefit provided to the Executive in connection with the termination of Executive’s employment is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A and the Executive is a specified employee as defined in Section 409A(2)(B)(i) of the Code, no part of such payments shall be paid before the day that is six (6) months plus one (1) day after the date of termination or, if earlier, ten (10) business days following the Executive’s death (the “New Payment Date”).  The aggregate of any payments that otherwise would have been paid to the Executive during the period between the date of termination and the New Payment Date shall be paid to the Executive in a lump sum on such New Payment Date.  Thereafter, any payments that remain outstanding as of the day immediately following the New Payment Date shall be paid without delay over the time period originally scheduled, in accordance with the terms of this Agreement.  
		

		
			(iii)All reimbursements for costs and expenses under this Agreement shall be paid in no event later than the end of the calendar year following the calendar year in which the Executive incurs such expense.  With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursements or in-kind, benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year.
		

		 

		

			13

		

		

			 

		

 

		

			 

		

		
			(iv)If under this Agreement, an amount is paid in two or more installments, for purposes of Section 409A, each installment shall be treated as a separate payment.  Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company.
		

		
			(i)All questions concerning the construction, validity and interpretation of this Agreement and the exhibits to this Agreement will be governed by and construed in accordance with the domestic laws of the State of Texas, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas.  The parties hereby irrevocably and unconditionally submit in any legal action or proceeding arising out of or relating to this Agreement to the exclusive jurisdiction of either a state court located in the County of Harris, Texas, with subject matter jurisdiction over the action or the United States District Court, Southern District of Texas, U.S.A. and, in any such action or proceeding, consent to jurisdiction in such courts and waive any objection to the venue in any such court.  AS A SPECIFICALLY BARGAINED INDUCEMENT FOR EACH OF THE PARTIES TO ENTER INTO THIS AGREEMENT (EACH PARTY HAVING HAD OPPORTUNITY TO CONSULT COUNSEL), EACH PARTY EXPRESSLY: (A) WAIVES THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT, AND (B) AGREES THAT SUIT TO ENFORCE ANY PROVISION OF THIS AGREEMENT OR TO OBTAIN ANY REMEDY WITH RESPECT HERETO SHALL BE BROUGHT EXCLUSIVELY IN THE STATE OR FEDERAL COURTS LOCATED IN HARRIS COUNTY, STATE OF TEXAS, U.S.A., OR THE UNITED STATES DISTRICT COURT FOR TEXAS, SOUTHERN DISTRICT, AND EACH PARTY HERETO EXPRESSLY AND IRREVOCABLY CONSENTS TO THE JURISDICTION OF SUCH COURTS.
		

		
			(j)Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he/she is bound, (ii) Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (iii) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive on and after the Effective Date, enforceable in accordance with its terms.  Executive hereby acknowledges and represents that he has had the opportunity to consult with independent legal counsel or other advisor of Executive’s choice and has done so regarding Executive’s rights and obligations under this Agreement, that he is entering into this Agreement knowingly, voluntarily, and of Executive’s own free will, that he is relying on Executive’s own judgment in doing so, and that he fully understands the terms and conditions contained herein.
		

		
			(k)The Company shall have the right to withhold from any amount payable hereunder any federal, state and local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation.
		

		 

		

			14

		

		

			 

		

 

		

			 

		

		
			(l)The covenants and obligations of the Company under Sections 9, 14, 15 and 17 hereof, and the covenants and obligations of Executive under Sections 9, 11, 12, 13, 14, 15 and 17 hereof, shall continue and survive any expiration of the Term, termination of Executive’s employment or any termination of this Agreement.  
		

		
			[signature page follows]
		

		
			 
		

		

		

		 

		

			15

		

		

			 

		

 

		

			 

		

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

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						NCS MULTISTAGE HOLDINGS, INC.

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Robert Nipper

				
	
					
						﻿

					
					
						 

					
					
						By: Robert Nipper

				
	
					
						﻿

					
					
						 

					
					
						Title: Chief Executive Officer

				

		
			﻿
		

		
			﻿
		

			
					
						﻿

					
						 

					
						 

					
					
						 

				
	
					
						﻿

					
					
						EXECUTIVE

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						/s/ Michael Morrison

				
	
					
						﻿

					
					
						Name: Michael Morrison

				

		
			﻿
		

		

		

		 

 

		

			 

		

		
		

		
			Exhibit A
		

		
			RELEASE
		

		
			﻿
		

		
			This RELEASE (“Release”) dated as of ___________, 20__ between NCS Multistage Holdings, Inc., a Delaware corporation (the “Company”), and _______ (the “Executive”).
		

		
			WHEREAS, the Company and the Executive previously entered into that certain Employment Agreement dated August __, 2017 (the “Agreement”); and
		

		
			WHEREAS, the Executive's employment with the Company has terminated effective ______ __, 20__ (“Termination Date”); 
		

		
			NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein and in the Agreement, the Company and the Executive agree as follows:
		

		
			1.Capitalized terms not defined herein shall have the meaning as defined under the Agreement.
		

		
			2.In consideration of the Executive’s release under Paragraph 3 hereof, the Company shall pay to the Executive or provide benefits to the Executive as set forth in Section 9, as applicable, of the Agreement, which is attached hereto and made a part hereof.
		

		
			3.The Executive, on Executive’s own behalf and on behalf of Executive’s heirs, estate and beneficiaries, does hereby release the Company, and in such capacities, any of its Affiliates, and each past or present officer, director, agent, employee, shareholder, and insurer of any such entities, from any and all claims made, to be made, or which might have been made of whatever nature, whether known or unknown, from the beginning of time, including those that arose as a consequence of Executive’s employment with the Company, or arising out of the severance of such employment relationship, or arising out of any act committed or omitted during or after the existence of such employment relationship, all up through and including the date on which this Release is executed, including, without limitation, any tort and/or contract claims, common law or statutory claims, claims under any local, state or federal wage and hour law, wage collection law or labor relations law, claims under any common law or other statute, claims of age, race, sex, sexual orientation, religious, disability, national origin, ancestry, citizenship, retaliation or any other claim of employment discrimination, including under the Civil Rights Acts, the Age Discrimination in Employment Act (“ADEA”), the Americans with Disabilities Act, the Rehabilitation Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, Texas Labor Code (specifically including the Texas Payday Law the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas Whistleblower Act), all as amended, and any other law (including any state or local law or ordinance) prohibiting employment discrimination or relating to employment, retaliation in employment, termination of employment, wages, benefits or otherwise.  Notwithstanding the release and waiver of claims set forth in this Paragraph 3,  Executive does not waive or release any rights Executive may have relating to (a) unemployment compensation or unemployment insurance; (b) workers’ compensation; (c) Executive’s rights to any post-termination payments under Section 9 of the Agreement, as 
		
		
 

		

			 

		

 

		

			 

		

		applicable; (d) indemnification and/or any insurance with respect to claims asserted by any third party against Executive for actions taken by Executive in good faith within the scope of Executive’s employment; (e) Executive’s right to challenge the validity of the release of claims in this Paragraph 3 under the ADEA as amended by the Older Workers Benefit Protection Act (the “OWBPA”) or otherwise; (f) any rights or claims that arise after the date Executive executes this Release; and/or (g) any rights or claims which cannot legally be waived or released.  

		
		
			4.This Release does not limit or interfere with Executive’s right, without notice to or authorization of the Company, to communicate and cooperate in good faith with any self-regulatory organization or U.S. federal, state, or local governmental or law enforcement branch, agency, commission, or entity (collectively, a “Governmental Entity”) for the purpose of (i) reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Entity, including by providing documents or other information, or (iii) filing a charge or complaint with a Government Entity, provided that in each case, such communications, participation, and disclosures are consistent with applicable law.  Executive understands and agrees, however, that Executive’s waiver of claims in Paragraph 3 above waives Executive’s right to monetary or other relief (including reinstatement) should Executive file a charge with any Government Entity, or should any Government Entity pursue a claim on Executive’s behalf, except that the Executive is not prohibited from receiving a whistleblower award from a Government Entity for information provided in good faith to such Government Entity.  
		

		
			5.The Executive relinquishes any right to future employment with the Company and the Company shall have the right to refuse to re-employ the Executive, in each case without liability of the Executive or the Company.  
		

		
			6.The Executive acknowledges and agrees that even though claims and facts in addition to those now known or believed by Executive to exist may subsequently be discovered, it is Executive’s intention to fully settle and release all claims he may have against the Company and the persons and entities described above, whether known, unknown or suspected.
		

		
			7.[Executive acknowledges that pursuant to the Release set forth in Paragraph 3 above, Executive is waiving and releasing any rights he may have under the ADEA and that Executive’s waiver and release of such rights is knowing and voluntary.  Executive acknowledges that the consideration given for the ADEA waiver and release under this Release is in addition to anything of value to which Executive was already entitled.    Executive further acknowledges that he has been advised by this writing that:
		

		
			(a)Executive should consult with an attorney prior to executing this Release and has had an opportunity to do so;
		

		
			(b)Executive has up to twenty-one (21) days within which to consider this ADEA waiver and release;
		

		
			(c)Executive has seven (7) days following Executive’s execution of this Release to revoke this ADEA waiver and release, but only by providing written notice of 
		
		
 

		

			 

		

 

		

			 

		

		such revocation to the Company in accordance with the “Notice” provision in Section 17 of the Agreement; 

		
		
			(d)the ADEA waiver and release shall not be effective until the seven (7) day revocation period has expired; and
		

		
			(e)the twenty-one (21) day period set forth above shall run from the date Executive receives this Release.  The parties agree that any modifications made to this Release prior to its execution shall not restart, or otherwise affect, this twenty-one day (21) period.] 
		

		
			8.It is the intention of the parties in executing this Release that this Release shall be effective as a full and final accord and satisfaction and release of and from all liabilities, disputes, claims and matters covered under this Release, known or unknown, suspected or unsuspected.
		

		
			9.This Release shall become effective on the first (1st) day following the day that this Release becomes irrevocable under Paragraph 7.  All payments due to the Executive shall be payable in accordance with the terms of the Agreement.  
		

		
			﻿
		

		
			[remainder of page intentionally blank]
		

		
			﻿
		

		
			 
		

		

		

		 

		

			 

		

 

		

			 

		

		IN WITNESS WHEREOF, the parties have executed this Release on the date first above written.
		

			
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						NCS MULTISTAGE HOLDINGS, INC.

					
						 

					
						 

					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						By:

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						Name:

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						Title:

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						EXECUTIVE

				

		
			﻿Exhibit
10.1

 

Certain
identified information has been excluded from this exhibit because it is both (i) not material and (ii) private or confidential. [***]
indicates that information has been redacted. 

 

HOLDER SUPPORT AGREEMENT

 

This
Holder Support Agreement (this “Agreement”) is made as of October 6, 2022 by and among (i) CLIMATEROCK,
a Cayman Islands exempted company (the “Purchaser”), (ii) E.E.W. ECO ENERGY WORLD PLC, a company
formed under the laws of England and Wales (the “Company”), and (iii) the undersigned stockholder (“Holder”)
of the Purchaser. Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Business
Combination Agreement.

 

WHEREAS,
on or about the date hereof, the Purchaser, the Company, ClimateRock Holdings Limited, a Cayman Islands exempted company (“Pubco”),
ClimateRock Merger Sub Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of Pubco (“Merger
Sub”), have entered into that certain Business Combination Agreement (as amended from time to time in accordance
with the terms thereof, the “Business Combination Agreement”), pursuant to which (a) Purchaser will merge with
and into Merger Sub, with Purchaser continuing as the surviving entity (the “Merger”), as a result of which
(i) Purchaser shall become a wholly owned subsidiary of Pubco, and (ii) each issued and outstanding security of Purchaser immediately
prior to the Effective Time shall no longer be outstanding and shall automatically be cancelled, in exchange for the right of the holder
thereof to receive a substantially equivalent Pubco Security, and (b) (i) each Company Ordinary Share shall be transferred to Pubco in
consideration for the issue and allotment of a substantially equivalent Pubco Security (the “Company Share Transfer”)
and (ii) Pubco shall assume the Company’s outstanding vested options to purchase Company Ordinary Shares and all such options to
purchase Company Ordinary Shares shall become options to purchase Pubco Ordinary Shares, all upon the terms and subject to the conditions
set forth in this Agreement and in accordance with the applicable provisions of the Cayman Act;

 

WHEREAS,
the Board of Directors of the Purchaser has (a) approved and declared advisable the Business Combination Agreement, the Ancillary Documents,
the Merger and the other transactions contemplated by any such documents (collectively, the “Transactions”),
(b) determined that the Transactions are fair to and in the best interests of the Purchaser and its stockholders (the “Purchaser
Shareholders”) and (c) recommended the approval and the adoption by each of the Purchaser Shareholders of the Business
Combination Agreement, the Ancillary Documents, the Merger and the other Transactions;

 

WHEREAS,
Holder is currently the record owner of 1,968,750 Purchaser Class B Ordinary Shares (the “Holder Shares”) and
3,762,500 privately issued warrants of Purchaser entitling the Holder to purchase one (1) Purchaser Class A Ordinary Share at a price
of $11.50 per Purchaser Class A Ordinary Share (the “Holder Warrants” and, together with the Holder Shares
and any additional Purchaser Class A Ordinary Shares, Holder Shares or any securities in the Purchaser (or any securities convertible
into or exercisable or exchangeable for Purchaser Class A Ordinary Shares, Holder Shares or any securities in the Purchaser) in which
the Holder acquires record or beneficial ownership after the date hereof, including as a result of the Transaction, by purchase, as a
result of a stock dividend, stock split, recapitalization, combination, reclassification, exchange or change of such shares, or upon
exercise or conversion of any securities, the “Shares”); and

 

WHEREAS,
as a condition to the willingness of the Company to enter into the Business Combination Agreement, and as an inducement and in consideration
therefor, and the expenses and efforts to be undertaken by the Purchaser and the Company to consummate the Transactions, the Purchaser,
the Company and Holder desire to enter into this Agreement, pursuant to which, the parties hereto agreed to certain matters 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.
            Covenant to Vote in Favor of Transactions. Holder hereby
agrees, with respect to all of the Shares, that during the period commencing on the date hereof and ending on the earliest of (x) the
Effective Time, and (y) such date and time as the Business Combination Agreement shall be terminated in accordance with Section
9.1 thereof (the “Voting Period”):

 

(a)
at each meeting of the Purchaser Shareholders or any class or series thereof, and in each written consent or resolutions of any of the
Purchaser Shareholders in which Holder is entitled to vote or consent, Holder hereby unconditionally and irrevocably agrees to be present
for such meeting and vote (in person or by proxy), or consent to any action by written consent or resolution with respect to, as applicable,
the Shares (i) in favor of, and adopt, the Merger, the Business Combination Agreement, the Ancillary Documents, any amendments to the
Purchaser’s Organizational Documents, and all of the other Transactions (and any actions required in furtherance thereof), (ii)
in favor of the other matters set forth in the Business Combination Agreement, and (iii) to vote the Shares in opposition to: (A) any
Acquisition Proposal, (B) any Alternative Transaction, and (C) any other action, proposal, or agreement that would reasonably be expected,
to (x) prevent, impede, interfere with, frustrate, delay or adversely affect in any material respect the Transactions, (y) result in
any of the conditions to the Closing under the Business Combination Agreement not being fulfilled, or (z) change in any manner the dividend
policy or capitalization of, including the voting rights of any class of capital stock of, Purchaser;

 

(b)
to execute and deliver all related documentation and take such other action in support of the Merger, the Business Combination Agreement,
any Ancillary Documents and any of the Transactions as shall reasonably be requested by the Company or the Purchaser in order to carry
out the terms and provision of this Section 1, including, without limitation, (i) any actions by written consent of the Purchaser
Shareholders presented to Holder with respect to the matters in Section 1(a), and (ii) any applicable Ancillary Documents, and
any consent, waiver, governmental filing, and any similar or related documents;

 

(c)
not to deposit, and to cause their Affiliates not to deposit, except as provided in this Agreement, any Shares owned by Holder or his/her/its
Affiliates in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares, unless
specifically requested to do so by the Company and the Purchaser in connection with the Business Combination Agreement, the Ancillary
Documents and any of the Transactions; and

 

(d)
except as contemplated by the Business Combination Agreement or the Ancillary Documents, make, or in any manner participate in, directly
or indirectly, a “solicitation” of “proxies” or consents (as such terms are used in the rules of the SEC) or
powers of attorney or similar rights to vote, or seek to advise or influence any Person with respect to the voting of, any shares of
the Purchaser capital stock in connection with any vote or other action with respect to the Transactions, other than to recommend that
stockholders of the Purchaser vote in favor of adoption of the Business Combination Agreement and the Transactions and any other proposal
the approval of which is a condition to the obligations of the parties under the Business Combination Agreement (and any actions required
in furtherance thereof and otherwise as expressly provided by Section 1 of this Agreement).

 

    2

     

    

 

	2.	Other
                                            Covenants.

 

(a)
No Transfers; Lock-Up Period.

 

(i)
Holder agrees that during the Voting Period and for a period of one hundred and eighty (180) days thereafter (the “Lock-Up
Period”), it and any Lock-Up Permitted Transferee (as defined below) shall not, and shall cause its Affiliates not to,
without the Company’s prior written consent, directly or indirectly, do any of the following (the following constituting the “Lock-up”
(A) offer for sale, sell (including short sales), transfer, tender, pledge, encumber, assign or otherwise dispose of (including by merger
(including by conversion into securities or other consideration), by tendering into any tender or exchange offer, by gift, by testamentary
disposition, by operation of applicable Law, by encumbering or by using a derivative to transfer or otherwise), or assignment of, offer
to sell, contract or agreement to sell, 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 with respect to, any or all of the Shares (each, a “Transfer”); (B) deposit
any of the Shares into a voting trust or enter into a voting agreement or arrangement or grant any proxies or powers of attorney with
respect thereto that is inconsistent with this Agreement; (C) enter into any contract, option or other arrangement or undertaking requiring
the direct or indirect acquisition or sale, assignment, transfer or other disposition of any of the Shares; (D) engage in any hedging
or other similar transaction with respect to the Covered Shares; (E) permit to exist any lien of any nature whatsoever (other than those
imposed by this Agreement, applicable securities Laws or the Purchaser’s Organizational Documents, as in effect on the date hereof)
with respect to any or all of the Shares; or (F) take any action that would have the effect of preventing, impeding, interfering with
or adversely affecting Holder’s ability to perform its obligations under this Agreement. The Purchaser hereby agrees that it shall
not permit any Transfer of the Shares in violation of this Agreement. Holder agrees with, and covenants to, the Company that Holder shall
not request that the Purchaser register the Transfer (book-entry or otherwise) of any certificate or uncertificated interest representing
any Shares during the term of this Agreement without the prior written consent of the Company, and the Purchaser hereby agrees that it
shall not effect any such Transfer.

 

(ii)
Section 2(a) shall not prohibit a Transfer of Shares by Holder (i) to any family member or trust for the benefit of any family
member, (ii) to any stockholder, member or partner of Holder, if an entity, (iii) to any Affiliate of Holder, or (iv) to any person or
entity if and to the extent required by any non-consensual Order, by divorce decree or by will, intestacy or other similar Applicable
Law (each a “Lock-Up Permitted Transferee”); provided, and solely to the extent, that such Lock-Up Permitted
Transferee agrees to be bound by the terms of this Agreement and executes and delivers to the parties hereto a written consent and joinder
memorializing such agreement. During the term of this Agreement, the Purchaser will not register or otherwise recognize the transfer
(book-entry or otherwise) of any Shares or any certificate or uncertificated interest representing any of Holder’s Shares, except
as permitted by, and in accordance with, this Section 2(a)(ii). Notwithstanding anything in this Agreement to the contrary, the
parties hereto acknowledge and agree that (x) any Shares distributed or otherwise Transferred by the Holder to an Independent Director,
and (y) up to $1.6 million in Shares Transferred immediately after the Closing, if the proceeds from such Transfer are used solely for
the purpose of satisfying, in whole or in part, the fees set forth in the contracts listed on Exhibit A hereto and due from Holder,
shall not be subject to the Lock-Up under Section 2(a). For the purposes of this Agreement, the term “Independent Director”
shall mean members of the board of directors of the Purchaser other than Per Regnarsson and Charles Ratelband, its Executive Chairman
and Chief Executive Officer, respectively.

 

    3

     

    

 

(b)
Changes to Shares. In the event of a stock dividend or distribution, or any change in the shares of capital stock of the Purchaser
by reason of any stock dividend or distribution, stock split, recapitalization, combination, conversion, exchange of shares or the like,
the term “Shares” shall be deemed to refer to and include the Shares as well as all such stock dividends and distributions
and any securities into which or for which any or all of the Shares may be changed or exchanged or which are received in such transaction.
Holder agrees during the Voting Period to notify the Purchaser and the Company promptly in writing of the number and type of any additional
Shares acquired by Holder, if any, after the date hereof.

 

(c)
Registration Statement. During the Voting Period, Holder agrees to provide to the Purchaser, the Company and their respective
Representatives any information regarding Holder or the Shares that is reasonably requested by the Purchaser, the Company or their respective
Representatives for inclusion in the Registration Statement.

 

(d)
Publicity. Holder shall not issue any press release or otherwise make any public statements with respect to the Transactions without
the prior written approval of the Company and the Purchaser. Holder hereby authorizes the Company and the Purchaser to publish and disclose
in any announcement or disclosure required by the SEC, Nasdaq or the Registration Statement (including all documents and schedules filed
with the SEC in connection with the foregoing), Holder’s identity and ownership of the Shares and the nature of Holder’s
commitments and agreements under this Agreement, the Business Combination Agreement and any other Ancillary Documents.

 

(e)
Waiver of Anti-Dilution Protections. The Holder hereby irrevocably and unconditionally (but subject to the consummation of the
Merger) (i) agrees that pursuant to Section 1.6(b) of the Business Combination Agreement, each Purchaser Class B Ordinary Share
issued and outstanding prior to the Effective Time shall be converted automatically into one (1) Pubco Ordinary Share (the “Purchaser
Merger Consideration”), and (ii) waives any adjustment to the Purchaser Merger Consideration pursuant to the Conversion
Ratio (as such term is defined in the Purchaser’s Amended and Restated Memorandum of Association) to which it would otherwise
be entitled pursuant to Article 35 of Purchaser’s Amended and Restated Memorandum of Association and any other anti-dilution protections
with respect to the Purchaser Merger Consideration resulting from the transactions contemplated by the Business Combination Agreement
(including the issuance of Pubco Ordinary Shares or any other securities of Pubco in connection with such transactions) such that any
Pubco Ordinary Shares, Purchaser Class A Ordinary Shares or any other securities of the Pubco or Purchaser issued pursuant to any of
the foregoing are excluded from the determination of the number of shares of the Pubco Ordinary Shares issuable upon payment of the Purchaser
Merger Consideration in connection with the transactions contemplated by the Business Combination Agreement. The Holder further agrees
not to redeem any Shares and not to commence or participate in, and to take all actions necessary to opt out of any class in any class
action with respect to, any claim, derivative or otherwise, against Purchaser, the Company, any Affiliate or designee of the Holder
acting in his or her capacity as director or any of their respective successors and assigns relating to the negotiation, execution or
delivery of this Holder Agreement, the Business Combination Agreement or the consummation of the transactions contemplated hereby and
thereby.

 

    4

     

    

 

3.           
Representations and Warranties of Holder. Holder hereby represents and warrants to the Purchaser and the Company as follows:

 

(a)
Binding Agreement. Holder is (A) a corporation, limited liability company, company or partnership duly organized and validly existing
under the laws of the jurisdiction of its organization and (B) has all necessary power and authority to execute and deliver this Agreement,
to perform its obligations hereunder and to consummate the transactions contemplated hereby. If Holder is not a natural person, the execution
and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby
by Holder has been duly authorized by all necessary corporate, limited liability or partnership action on the part of Holder, as applicable.
This Agreement, assuming due authorization, execution and delivery hereof by the other parties hereto, constitutes a legal, valid and
binding obligation of Holder, enforceable against Holder in accordance with its terms (except as such enforceability may be limited by
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating to or
affecting creditor’s rights, and to general equitable principles). Holder understands and acknowledges that the Company is entering
into the Business Combination Agreement in reliance upon the execution and delivery of this Agreement by Holder.

 

(b)
Ownership of Shares. As of the date hereof, Holder is the sole and beneficial owner (as defined in the Securities Act) of
the Shares, has the sole power to vote or cause to be voted such Shares, and has good and valid title to such Shares, free and clear
of any and all pledges, mortgages, encumbrances, charges, proxies, voting agreements, liens, adverse claims, options, security interests
and demands of any nature or kind whatsoever, other than those imposed by this Agreement, applicable securities Laws or the Purchaser’s
Organizational Documents, as in effect on the date hereof. There are no claims for finder’s fees or brokerage commission or other
like payments in connection with this Agreement or the transactions contemplated hereby payable by Holder pursuant to arrangements made
by Holder. Except for the Shares set forth under Holder’s name on the signature page hereto and the Holder’s Purchaser Private
Warrants, as of the date of this Agreement, Holder is not a beneficial owner or record holder of any: (i) equity securities of the Purchaser,
(ii) securities of the Purchaser having the right to vote on any matters on which the holders of equity securities of the Purchaser may
vote or which are convertible into or exchangeable for, at any time, equity securities of the Purchaser or (iii) options, warrants or
other rights to acquire from the Purchaser any equity securities or securities convertible into or exchangeable for equity securities
of the Purchaser.

 

(c)
No Conflicts. No filing with, or notification to, any Governmental Authority, and no consent, approval, authorization or permit
of any other person is necessary for the execution of this Agreement by Holder, the performance of its obligations hereunder or the consummation
by it of the transactions contemplated hereby. None of the execution and delivery of this Agreement by Holder, the performance of its
obligations hereunder or the consummation by it of the transactions contemplated hereby shall (i) conflict with or result in any breach
of the certificate of incorporation, bylaws or other comparable organizational documents of Holder, if applicable, (ii) result in, or
give rise to, a violation or breach of or a default under any of the terms of any Contract or obligation to which Holder is a party or
by which Holder or any of the Shares or its other assets may be bound, or (iii) violate any applicable Law or Order, except for any of
the foregoing in clauses (i) through (iii) as would not reasonably be expected to impair Holder’s ability to perform its obligations
under this Agreement in any material respect.

 

(d)
No Inconsistent Agreements. Holder hereby covenants and agrees that, except for this Agreement, Holder (i) has not entered into,
nor will enter into at any time while this Agreement remains in effect, any voting agreement or voting trust with respect to the Shares
inconsistent with Holder’s obligations pursuant to this Agreement, (ii) has not granted, nor will grant at any time while this
Agreement remains in effect, a proxy, a consent or power of attorney with respect to the Shares and (iii) has not entered into any agreement
or knowingly taken any action (nor will enter into any agreement or knowingly take any action) that would make any representation or
warranty of Holder contained herein untrue or incorrect in any material respect or have the effect of preventing Holder from performing
any of its material obligations under this Agreement. Notwithstanding anything to the contrary contained in this Agreement, the Purchaser
and the Company hereby acknowledge that the Shares are subject to certain transfer restrictions and voting obligations (consistent with
the obligations under this Agreement) under that certain letter agreement, dated April 27, 2022 (as amended from time to time, the “Insider
Letter”), between the Holder and the Purchaser.

 

    5

     

    

 

(e)
Non Reliance. The Holder, on its own behalf and on behalf of its Affiliates and its and such Affiliates’ respective directors,
managers, officers, employees, accountants, consultants, advisors, attorneys, agents and other representatives (together, the “Representatives”),
acknowledges, represents, warrants and agrees that he, she or it has conducted its own independent review and analysis of, and, based
thereon, has formed an independent judgment concerning, the business, assets, condition, operations and prospects of, the Company and
the Transactions as he, she or it and his, her or its Representatives have deemed necessary to enable him, her or it to make an informed
decision with respect to the execution, delivery and performance of this Agreement or the other Ancillary Documents to which it is or
will be a party and the transactions contemplated hereby and thereby.

 

(f)
Purchaser Expenses. The Indebtedness and other Liabilities of Purchaser, Pubco, or Merger Sub (including in respect of deferred
underwriting commissions and costs and expenses incurred in respect with other prospective Business Combinations and of Purchaser’s
initial public offering) do not exceed, in the aggregate, the amount set forth in Schedule ‎4.5(d) of Purchaser Disclosure
Schedules. To Holder’s knowledge, no Indebtedness of Purchaser contains any restriction upon (i) the prepayment of any of such
Indebtedness, (ii) the incurrence of Indebtedness by Purchaser or (iii) the ability of Purchaser to grant any Lien on its properties
or assets.

 

4.            
Confidentiality. Holder hereby agrees that during the Voting Period, and, in the event that the Business Combination Agreement
is terminated in accordance with Article IX thereof, for a period of one (1) year after such termination, it shall, and shall cause its
Representatives and Affiliates to: (i) treat and hold in strict confidence any Company Confidential Information, and not use for any
purpose (except in connection with the consummation of the transactions contemplated by this Agreement, the Business Combination Agreement,
or any other Ancillary Documents, performing its obligations hereunder or thereunder or enforcing its rights hereunder or thereunder),
nor directly or indirectly disclose, distribute, publish, disseminate or otherwise make available to any third party any of the Company
Confidential Information without the Company’s prior written consent; and (ii) in the event that Holder or any of its Representatives,
during the Voting Period or, in the event that this Agreement is terminated in accordance with Article IX, for a period of one (1) year
after such termination, becomes legally compelled to disclose any Company Confidential Information, (A) provide the Company to the extent
legally permitted with prompt written notice of such requirement so that the Company may seek, at the Company’s sole expense, a
protective Order or other remedy or waive compliance with this Section 4 and (B) in the event that such protective Order or other
remedy is not obtained, or the Company waives compliance with this Section 4, furnish only that portion of such Company Confidential
Information which is legally required to be provided as advised by outside counsel and to exercise its commercially reasonable efforts
to obtain assurances that confidential treatment will be accorded such Company Confidential Information. In the event that the Business
Combination Agreement is terminated and the transactions contemplated thereby are not consummated, Holder shall, and shall cause its
Representatives to, promptly deliver to the Company or destroy (at Holder’s election) any and all copies (in whatever form or medium)
of Company Confidential Information and destroy all notes, memoranda, summaries, analyses, compilations and other writings related thereto
or based thereon; provided, that Holder and its Representatives shall be entitled to keep any records required by applicable Law or bona
fide record retention policies; provided, further that any Company Confidential Information that is not returned or destroyed, including
any oral Company Confidential Information, shall remain subject to the confidentiality obligations set forth in this Agreement. Notwithstanding
the foregoing, Holder and its Representatives shall be permitted to disclose any and all Company Confidential Information to the extent
required by the Federal Securities Laws.

 

    6

     

    

 

5.            
Miscellaneous.

 

(a)
Termination. Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate, and be void
ab initio upon the earliest to occur of (i) the mutual written consent of the Purchaser, the Company and Holder and (ii) without
any notice or other action by any party hereto, the termination of the Business Combination Agreement in accordance with its terms. The
termination of this Agreement shall not prevent any party hereunder from seeking any remedies (at law or in equity) against another party
hereto or relieve such party from liability for such party’s breach of any terms of this Agreement. Notwithstanding anything to
the contrary herein, the provisions of this Section 5(a) shall survive the termination of this Agreement. 

 

(b)
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. This Agreement and all obligations of Holder are personal to
Holder and may not be assigned, transferred or delegated by Holder at any time without the prior written consent of the Purchaser and
the Company, and any purported assignment, transfer or delegation without such consent shall be null and void ab initio.

 

(c)
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 that is
not a party hereto or thereto or a successor or permitted assign of such a party.

 

(d)
Governing Law; Jurisdiction. This Agreement, shall be construed in accordance with and governed by the Laws of the State of Delaware,
without giving effect to the conflict of laws principles of the State of Delaware or any other jurisdiction that would cause the Laws
of any jurisdiction other than the State of Delaware to apply. Any claim, action, suit, investigation or proceeding of any kind whatsoever,
including any counterclaim, cross-claim, or defense, regardless of the legal theory under which such liability or obligation may be sought
to be imposed, whether sounding in contract or tort, or whether at law or in equity, or otherwise under any legal or equitable theory,
that may be based upon, arising out of or related to this Agreement or the negotiation, execution or performance of this Agreement or
the transactions contemplated hereby brought by any other party or its successors or assigns shall be brought and determined only in
the Court of Chancery of the State of Delaware in and for New Castle County, Delaware or, if such court shall not have jurisdiction,
any federal court located in the State of Delaware or other Delaware state court. Each Party hereto hereby (a) irrevocably consents and
submits to the exclusive jurisdiction of any Specified Court for itself and with respect to its property, generally and unconditionally,
in any such claim, action, suit, proceeding or investigation, (b) waives any objection it may now or hereafter have to personal jurisdiction,
venue or to convenience of forum, (c) agrees that all claims in respect of the claim, action, suit, proceeding or investigation shall
be heard and determined only in any such court and (d) agrees not to bring any claim, action, suit, proceeding or investigation arising
out of and relating to this Agreement or the transactions contemplated hereby in any other court. Each Party hereto agrees not to commence
any claim, action, suit, proceeding or investigation relating thereto except in the courts described above in the State of Delaware,
other than the actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in
the State of Delaware as described herein, and no Party shall file a motion to dismiss any action filed in the State of Delaware consistent
with this Section 5(d), on any jurisdiction or venue-related grounds, including the doctrine of forum non conveniens.
Each Party hereto irrevocably agrees that venue would be proper in the courts of Delaware described above, and hereby irrevocably waives
any objection that any such court is an improper or inconvenient forum for the resolution of any Action. Nothing herein shall be deemed
to affect the right of any Party to serve process in any manner permitted by Law or to commence legal proceedings or otherwise proceed
against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any claim, Action, suit, investigation
or proceeding brought pursuant to this Section 5(d).

 

    7

     

    

 

(e)
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 5(e).

 

(f)
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.

 

(g)
Capacity as a Shareholder. Holder signs this Agreement solely in Holder’s capacity as a stockholder of the Purchaser, and
not in Holder’s capacity as a director, officer or employee of the Purchaser. Notwithstanding anything herein to the contrary,
nothing herein shall in any way restrict a director or officer of the Purchaser in the exercise of his or her fiduciary duties as a director
or officer of the Purchaser or prevent or be construed to create any obligation on the part of any director or officer of the Purchaser
from taking any action in his or her capacity as such director or officer.

 

    8

     

    

 

(h)
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 facsimile or other electronic means, with affirmative confirmation of receipt, (iii)
one 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, 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 Purchaser to:	with
    a copy (which will not constitute notice) to:
	

    ClimateRock

    50
    Sloane Avenue

    London,
    SW3 3DD

    United
    Kingdom

    Attn:
    Per Regnarsson

    Telephone
    No.: +44 203 954 0590

    Email: Info@climate-rock.com
	

    Ellenoff
    Grossman & Schole LLP

    1345 Avenue of the Americas, 11th Floor

    New York, New York 10105

    Attn: Barry I. Grossman, Esq.

    Facsimile No.: (212) 370-7889

    Telephone No.: (212) 370-1300

    Email: bigrossman@egsllp.com 

	If
                                            to the Company, to:

                                                                          

    E.E.W.
    Eco Energy World PLC

    13
    Hanover Square

    London
    W1S 1HN

    Attn:
    Mr. Svante Kumlin, CEO

    Telephone No.: [***]

    Email: [***]
	with
                                            a copy (which will not constitute notice) to:

                                                                

    White
    & Case LLP

    5
    Old Broad Street

    London
    EC2N 1DW

    Attn:
    Ross Allardice

    Guy
    Potel

    Monica
    Holden, Esq.

    Telephone
    No.: +44 20 7532 2038

    Email:
    ross.allardice@whitecase.com

    guy.potel@whitecase.com

    Mholden@whitecase.com

     

    White
    & Case LLP

    1221
    Avenue of the Americas

    New
    York, New York 10020

    Attn:
    James Hu

    Telephone
    No.: (212) 819-2505

    E-mail:
    James.Hu@whitecase.com

	If
    to Holder, to: the address set forth under Holder’s name on the signature page hereto, with a copy (which will not constitute
    notice) to, if not the party sending the notice, each of the Company and the Purchaser (and each of their copies for notices hereunder).
     

 

(i)
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 Purchaser,
the Company and the Holder. 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.

 

    9

     

    

 

(j)
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.

 

(k)
Specific Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in
the event of a breach of this Agreement by Holder, money damages will be inadequate and the Company and the Purchaser will have not 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 Holder in accordance with their specific terms or were otherwise breached. Accordingly, the Company and the Purchaser shall be entitled
to an injunction or restraining order to prevent breaches of this Agreement by 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.

 

(l)
Expenses. Each party shall be responsible for its own fees and expenses (including the fees and expenses of investment bankers,
accountants and counsel) in connection with the entering into of this Agreement, the performance of its obligations hereunder and the
consummation of the transactions contemplated hereby; provided, that in the event of any Action arising out of or relating to this Agreement,
the non-prevailing party in any such Action will pay its own expenses and the reasonable documented out-of-pocket expenses, including
reasonable attorneys’ fees and costs, reasonably incurred by the prevailing party.

 

(m)
No Partnership, Agency or Joint Venture. This Agreement is intended to create a contractual relationship among Holder, the Company
and the Purchaser, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship
among the parties hereto or among any other Purchaser shareholders entering into voting agreements with the Company or the Purchaser.
Holder has acted independently regarding its decision to enter into this Agreement. Nothing contained in this Agreement shall be deemed
to vest in the Company or the Purchaser any direct or indirect ownership or incidence of ownership of or with respect to any Shares.

 

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

 

(o)
Entire Agreement. This Agreement (together with the Business Combination Agreement to the extent referred to herein) 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 or the Insider Letter. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights
or remedies of the Purchaser or the Company or any of the obligations of Holder under any other agreement between Holder and the Purchaser
or the Company or any certificate or instrument executed by Holder in favor of the Purchaser or the Company, and nothing in any other
agreement, certificate or instrument shall limit any of the rights or remedies of the Purchaser or the Company or any of the obligations
of Holder under this Agreement.

 

(p)
Counterparts; Facsimile. This Agreement may also be executed and delivered by facsimile or electronic 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; Signature Page Follows]

 

    10

     

    

 

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

 

	 	The Purchaser:
	 	 
	 	CLIMATEROCK
	 	 	 
	 	By:	/s/ Per Regnarsson
	 	Name:  	Per Regnarsson
	 	Title:	Chief Executive Officer
	 	 	 
	 	The Company:
	 	 
	 	E.E.W. ECO ENERGY WORLD PLC
	 	 	 
	 	By:	/s/ Svante
Kumlin
	 	Name:	Svante Kumlin
	 	Title:	Director

 

	Holder:	 
	 	 
	Name of Holder: U.N. SDG Support,
    LLC	 
	 	 
	By:	/s/ Charles Ratelband V 	 
	Name: 	Charles Ratelband V	 
	Title:	Managing Member	 

 

	Address
                    for Notice:

                     
	 
	Address:	 	 
	 	 
	 	 
	Facsimile No.:	 	 
	Telephone No.:	 	 
	Email:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}]]