Document:

Exhibit 4.6

RIGHT AGREEMENT

 

This Right Agreement (this “Agreement”)
is made as of [●] 2022 between Energy Cloud I Acquisition Corporation, a British Virgin Islands Company, with offices at Room 2006,
Block 5, Zone 5, Aoyuan City Plaza, Panyu District, Guangzhou, China (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation, with offices at 1 State Street, 30th Floor, New York, NY 10004-1561 (“Rights Agent”).

 

WHEREAS, the Company is engaged in an initial public
offering (the “Offering”) of units of the Company’s equity securities (each, a “Unit” and collectively,
the “Units”) to EF Hutton, division of Benchmark Investments, LLC. (the “Representative”), as representative of
the several underwriters, each such Unit comprised of one share of one Ordinary Share, no par value, of the Company (“Ordinary Shares”),
one half of one right with each whole right to receive one-tenth (1/10) of one Ordinary Share (each, a “Public Right” and
collectively, the “Public Rights”) upon the happening of an “Exchange Event” (defined herein), and one whole warrant
to purchase one Ordinary Shares, and in connection therewith, has determined to issue and deliver up to 3,750,000 Public Rights (including
up to 562,500 Public Rights subject to the over-allotment option) to public investors in the Offering; and

 

WHEREAS, the Company has entered into that certain
Unit Purchase Agreement dated as of [●], 2022, with Energy Cloud Sponsor Holdings Limited (the “Sponsor”), pursuant
to which the Company will issue and deliver to the Sponsor up to an aggregate of 232,500 Units, including 116,250 rights underlying such
Units (the “Sponsor Private Placement Rights”); and

 

WHEREAS, the Company has entered into that certain
Unit Purchase Option, dated as of [●], 2022 pursuant to which the Company will issue and deliver to the Representative an aggregate
of 1,125,000 Units, including 562,500 rights underlying such Units (the “Purchase Option Rights”); and

 

WHEREAS, in order to finance the Company’s
transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s executive officers and directors may loan to the Company funds as may be required, of which up to $300,000 of such
loans may be convertible into up to an additional 30,000 Units at a price of $10.00 per unit, including 15,000 rights underlying such
Units (the “Working Capital Rights” and together with the Purchase Option Rights, Private Placement Rights and Public Rights,
the “Rights”); and

 

WHEREAS, the Company has filed with the Securities
and Exchange Commission registration statement on Form S-1, File No. 333-[●], and the prospectus forming a part thereof (collectively,
the “Prospectus”), for the registration under the Securities Act of 1933, as amended, of the Units and each of the securities
comprising the Units, and the Ordinary Shares underlying the Public Rights; and

 

WHEREAS, the Company desires the Rights Agent to
act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration, transfer and exchange
of the Rights; and

 

WHEREAS, the Company desires to provide for the
form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of rights, and immunities
of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and things have been done and
performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf of the Rights
Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this
Agreement.

 

     

     

    

 

NOW, THEREFORE, in consideration of the mutual
agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of Rights Agent. The Company hereby appoints
the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts such appointment and agrees to perform
the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Rights.

 

2.1. Form of Right. Each Right shall
be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein
and shall be signed by, or bear the facsimile signature of, the Chairman of the Board and the Secretary of the Company and shall bear
a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Right shall have ceased
to serve in the capacity in which such person signed the Right before such Right is issued, it may be issued with the same effect as if
he or she had not ceased to be such at the date of issuance.

 

2.2. Effect of Countersignature. Unless
and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be exchanged
for Ordinary Shares.

 

2.3. Registration.

 

2.3.1. Right Register. The Rights Agent
shall maintain books (“Right Register”) for the registration of original issuance and the registration of transfer of the
Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the names of the respective holders
thereof in such denominations and otherwise in accordance with instructions delivered to the Rights Agent by the Company.

 

2.3.2. Registered Holder. Prior to due
presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person in whose name such
Right shall be registered upon the Right Register (“registered holder”) as the absolute owner of such Right and of each Right
represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone other than the
Company or the Rights Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company nor the Rights
Agent shall be affected by any notice to the contrary.

 

2.4. Detachability of Rights. The securities
comprising the Units, including the Rights, will not be separately transferable until ten business days following the earlier to occur
of: (i) the 90th day following the date of the Prospectus or (ii) the announcement by Representative of its intention to allow
separate earlier trading, except that in no event will the securities comprising the Units be separately tradeable until the Company files
a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the
Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is
exercised by the date thereof and the Company issues a press release and files a Current Report on Form 8-K announcing when such separate
trading shall begin.

 

3. Terms and Exchange of Rights

 

3.1. Rights. Each Right shall entitle
the holder thereof to receive one-tenth of one share of an Ordinary Share upon the happening of an Exchange Event (defined below). No
additional consideration shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares upon an Exchange Event
as the purchase price for such Ordinary Shares has been included in the purchase price for the Units. In no event will the Company be
required to net cash settle the Rights. The provisions of this Section 3.1 may not be modified, amended or deleted without the prior written
consent of the Representative.

 

3.2. Exchange Event. An “Exchange
Event” shall occur upon the Company’s consummation of an initial Business Combination (as defined in the Company’s Amended
and Restated Certificate of Incorporation).

 

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3.3. Exchange of Rights.

 

3.3.1. Issuance of Certificates. As soon
as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to return their Rights Certificates
to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to the registered holder of such Right(s) a certificate
or certificates for the number of full Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be
directed by him, her or it. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will
the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights. At the time
of an Exchange Event, the Company will inform the Right Agent how fractional shares will be addressed, in accordance with Section 155
of the Delaware General Corporation Law. Each holder of a Right will be required to affirmatively convert his, her or its rights in order
to receive the 1/10 of a share underlying each right (without paying any additional consideration) upon consummation of the Exchange Event.
Each holder of a Right will be required to indicate his, her or its election to convert the Rights into the underlying shares as well
as to return the original certificates evidencing the Rights to the Company.

 

3.3.2. Valid Issuance. All Ordinary Shares
issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

 

3.3.3. Date of Issuance. Each person
in whose name any such certificate for Ordinary Shares is issued shall for all purposes be deemed to have become the holder of record
of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate.

 

3.3.4 Company Not Surviving Following Exchange
Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the definitive agreement
will provide for the holders of Rights to receive the same per share consideration the holders of the Ordinary Shares will receive in
such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above.

 

3.5 Duration of Rights. If an Exchange
Event does not occur within the time period set forth in the Company’s Certificate of Incorporation, as the same may be amended
from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer and Exchange of Rights.

 

4.1. Registration of Transfer. The
Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender of such
Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon
any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall be cancelled by
the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from time to time upon request.

 

4.2. Procedure for Surrender of Rights.
Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and thereupon the Rights Agent
shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing
an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer bears a restrictive legend,
the Rights Agent shall not cancel such Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion
of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also bear a restrictive legend.

 

4.3. Fractional Rights. The Rights
Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right Certificate
for a fraction of a Right.

 

4.4. Service Charges. No service charge
shall be made for any exchange or registration of transfer of Rights.

 

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4.5. Right Execution and Countersignature.
The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights required
to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent, will supply the Rights
Agent with Rights duly executed on behalf of the Company for such purpose.

 

5. Other Provisions Relating to Rights of Holders of Rights.

 

5.1. No Rights as Shareholder. Until
exchange of Rights for an Ordinary Share as provided for herein, aone or more Rights does not entitle the registered holder thereof to
any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or other distributions,
exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or
the election of directors of the Company or any other matter.

 

5.2. Lost, Stolen, Mutilated, or Destroyed
Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may on such terms as to indemnity
or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include the surrender thereof), issue
a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed. Any such new Right shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Right shall be
at any time enforceable by anyone.

 

5.3. Reservation of Ordinary Shares.
The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Ordinary Shares that will
be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6. Concerning the Rights Agent and Other Matters.

 

6.1. Payment of Taxes. The Company
will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in respect of the issuance
or delivery of Ordinary Shares upon the exchange of Rights, but the Company shall not be obligated to pay any transfer taxes in respect
of the Rights or such shares.

 

6.2. Resignation, Consolidation, or Merger
of Rights Agent.

 

6.2.1. Appointment of Successor Rights Agent.
The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities
hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Rights Agent becomes vacant by resignation
or incapacity to act or otherwise, the Company shall appoint in writing a successor Rights Agent in place of the Rights Agent. If the
Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity
by the Rights Agent or by the holder of the Right (who shall, with such notice, submit his, her or its Right for inspection by the Company),
then the holder of any Right may apply to the Supreme Court of the State of New York for the County of New York for the appointment of
a successor Rights Agent at the Company’s cost. After appointment, any successor Rights Agent shall be vested with all the authority,
powers, rights, immunities, duties, and obligations of its predecessor Rights Agent with like effect as if originally named as Rights
Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Rights Agent
shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights Agent all the authority,
powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent the Company shall make,
execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such
successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

6.2.2. Notice of Successor Rights Agent.
In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights Agent and the
transfer agent for the Ordinary Shares not later than the effective date of any such appointment.

 

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6.2.3. Merger or Consolidation of Rights
Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation resulting
from any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement without
any further act.

 

6.3. Fees and Expenses of Rights Agent.

 

6.3.1. Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further Assurances. The Company
agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further
and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying out or performing of the
provisions of this Agreement.

 

6.4. Liability of Rights Agent.

 

6.4.1. Reliance on Company Statement.
Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by
the Chief Executive Officer, Chief Operating Officer or Chief Financial Officer and delivered to the Rights Agent. The Rights Agent may
rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

6.4.2. Indemnity. The Rights Agent shall
be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6 below, the Company agrees
to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of the Rights Agent’s
gross negligence, willful misconduct, or bad faith.

 

6.4.3. Exclusions. The Rights Agent shall
have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Right (except
its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this
Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right or as to whether any Ordinary Shares will when
issued be valid and fully paid and nonassessable.

 

6.5. Acceptance of Agency. The Rights
Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set
forth.

 

6.6 Waiver. The Rights Agent hereby
waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution
of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the
Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever.

 

7. Miscellaneous Provisions.

 

7.1. Successors. All the covenants
and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit of their
respective successors and assigns.

 

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7.2. Notices. Any notice, statement
or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to or on the Company shall
be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within
five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the
Rights Agent), as follows:

 

Energy Cloud I Acquisition Corporation

Room 2006, Block 5, Zone 5, Aoyuan City Plaza

Panyu District, Guangzhou, China

Attention: Mr. Qingxun Kong, Director, CEO

 

Any notice, statement or demand authorized by this Agreement to be
given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given when so delivered if
by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004-1561

Attn: Compliance Department

 

with a copy to:

 

EF Hutton, division of Benchmark Investments, LLC 

590 Madison Avenue, 39th Floor

New York, NY 10022

Attention: General Counsel

 

7.3. Applicable Law. The validity,
interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws of the State of New
York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall
be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served
by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address
set forth in Section 7.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any
action, proceeding or claim.

 

7.4. Persons Having Rights under this Agreement.
Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed,
to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the Rights and, for
the purposes of Sections 3.1, 7.4 and 7.8 hereof, the Representative, any right, remedy, or claim under or by reason of this Agreement
or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed to be a third-party beneficiary
of this Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof. All covenants, conditions, stipulations, promises, and agreements
contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and the Representative with respect to
the Sections 3, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights. The provisions of this
Section 7.4 may not be modified, amended or deleted without the prior written consent of the Representative.

 

7.5. Examination of the Right Agreement.
A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the Borough of Manhattan, City
and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any such holder to submit his,
her or its Right for inspection by it.7.6. Counterparts. This Agreement may be executed in any number of original or facsimile
counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together
constitute but one and the same instrument.

 

7.7. Effect of Headings. The Section
headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

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7.8 Amendments. This Agreement may
be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting
or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions
arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest
of the registered holders. All other modifications or amendments shall require the written consent or vote of the registered holders of
a majority of the then outstanding Rights. The provisions of this Section 7.8 may not be modified, amended or deleted without the prior
written consent of the Representative.

 

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

 

[Signature Page Follows]

 

 

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IN WITNESS WHEREOF, this Agreement has been duly
executed by the parties hereto as of the day and year first above written.

 

	 	ENERGY CLOUD I ACQUISITION CORPORATION
	 	 	 
	 	By:	
 
	 	 	Name: 	Qingxun Kong
	 	 	Title:	Director, CEO
	 	 
	 	CONTINENTAL STOCK TRANSFER
	 	& TRUST COMPANY, as Right Agent
	 	 	 
	 	By:	
 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to Right Agreement]

 

     

     

    

 

EXHIBIT A 

 

FORM OF RIGHT CERTIFICATE 

 

[See attached]Exhibit 10.2

 

_________________, 2022

Energy Cloud I Acquisition Corporation

Room 2006, Block 5, Zone 5, Aoyuan City Plaza

Panyu District, Guangzhou, China

 

EF Hutton

Division of Benchmark Investments, LLC

590 Madison Avenue, 39th Floor

New York, NY 10022

 

	 	Re:	Initial Public Offering

 

Gentlemen:

 

This letter is being delivered to you in accordance
with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and between Energy Cloud I Acquisition
Corporation, a British Virgin Islands company (the “Company”), and EF Hutton, Division of Benchmark Investments,
LLC as representative (the “Representative”) of the several Underwriters named in Schedule I thereto (the “Underwriters”),
relating to an underwritten initial public offering (the “IPO”) of the Company’s units (the “Units”),
each comprised of one share of the Company’s ordinary shares, no par value per share (the “Ordinary Shares”)
and one redeemable warrant, each whole warrant exercisable for one Ordinary Share (each, a “Warrant”). Certain
capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such IPO will confer upon
the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned
hereby agrees with the Company as follows:

 

1. If the Company solicits approval of its stockholders
of a Business Combination, the undersigned will vote all Ordinary Shares beneficially owned by him, her, or it, whether acquired before,
in, or after the IPO, in favor of such Business Combination.

 

2. (a) In the event that the Company fails to
consummate a Business Combination within the time period set forth in the Company’s Amended and Restated Memorandum and Articles
of Association, as the same may be amended from time to time (the “Articles”), the undersigned will, as promptly
as possible, cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible,
but not more than 10 business days thereafter, redeem the IPO Shares at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the Trust Account net of interest released to the Company as permitted
pursuant to the Trust Agreement, divided by the number of then outstanding IPO Shares, which redemption will completely extinguish public
stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s
board of directors, dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Delaware
law to provide for claims of creditors and other requirements of applicable law.

 

(b) The undersigned hereby waives any and all
right, title, interest or claim of any kind in or to any distribution of the Trust Account (“Claim”) with respect
to the shares of Founders’ Ordinary Shares owned by the undersigned and hereby waives any Claim the undersigned may have in the
future as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Account
for any reason whatsoever. The undersigned acknowledges and agrees that there will be no distribution from the Trust Account with respect
to any Warrants, all rights of which will terminate on the Company’s liquidation. 

 

     

     

    

 

3. The undersigned acknowledges and agrees that
prior to entering into a Business Combination with a target business that is affiliated with any Insiders of the Company or their affiliates,
such transaction must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain
an opinion from an independent investment banking firm, or another independent entity that commonly renders valuation opinions, that
such Business Combination is fair to the Company’s unaffiliated stockholders from a financial point of view.

 

4. Neither the undersigned nor any affiliate of
the undersigned will be entitled to receive and will not accept any compensation or other cash payment prior to, or for services rendered
in order to effectuate, the consummation of the Business Combination; provided that the Company shall be allowed to make the payments
set forth in the Registration Statement under the caption “Prospectus Summary – The Offering – Limited payments to
insiders.”

 

5. Neither the undersigned nor any affiliate of
the undersigned will be entitled to receive or accept a finder’s fee or any other compensation in the event either of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

6. (a) The undersigned will place into escrow
all shares of Founders’ Ordinary Shares owned by him/her/it pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent.

 

(b) The undersigned agrees that until after the
Company consummates a Business Combination, all Private Securities owned by him/her/it will be subject to the transfer restrictions described
in the Subscription Agreement relating to the undersigned’s Private Securities.

 

7. (a) In order to minimize potential conflicts
of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s
initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation
to any other entity, any suitable target business, subject to any pre-existing fiduciary or contractual obligations the undersigned might
have.

 

(b) The undersigned hereby agrees and acknowledges
that (i) each of the Underwriters and the Company may be irreparably injured in the event of a breach of any of the obligations contained
in this letter, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled
to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

8. The undersigned agrees to be the [●]
of the Company until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company.
The undersigned’s biographical information previously furnished to the Company and the Representative is true and accurate in all
respects, does not omit any material information with respect to the undersigned’s background and contains all of the information
required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act. The undersigned’s FINRA
Questionnaire previously furnished to the Company and the Representative is true and accurate in all respects. The undersigned represents
and warrants that:

 

(a) he/she/it has never had a petition under
the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it or any partnership in which he/she/it
was a general partner at or within two years before the time of filing; or (ii) any corporation or business association of which he/she/it
was an executive officer at or within two years before the time of such filing;

 

(b) he/she/it has never had a receiver, fiscal
agent or similar officer been appointed by a court for his/her/its business or property, or any such partnership;

 

(c) he/she/it has never been convicted of fraud
in a civil or criminal proceeding;

 

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(d) he/she/it/ has never been convicted in a
criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

(e) he/she/it has never been the subject of any
order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining or otherwise limiting him/her/it from (i) acting as a futures commission merchant, introducing broker, commodity trading advisor,
commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission
(“CFTC”) or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker
or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association
or insurance company, or from engaging in or continuing any conduct or practice in connection with any such activity; or (ii) engaging
in any type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security or commodity
or in connection with any violation of federal or state securities or federal commodities laws;

 

(f) he/she/it has never been the subject of any
order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or
otherwise limiting for more than 60 days his/her/its right to engage in any activity described in 9(e)(i) above, or to be associated
with persons engaged in any such activity;

 

(g) he/she/it has never been found by a court
of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, where the judgment in
such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

(h) he/she/it has never been found by a court
of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment in such civil
action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

(i) he/she/it has never been the subject of,
or a party to, any Federal or State judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended
or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities law or regulation, (ii) any law or
regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction,
order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist order, or removal or prohibition
order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

 

(j) he/she/it has never been the subject of,
or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization, any registered
entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated
with a member;

 

(k) he/she/it has never been convicted of any
felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with
the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment
advisor or paid solicitor of purchasers of securities;

 

(l) he/she/it was never subject to a final order
of a state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or
examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like
functions); an appropriate federal banking agency; the Commodity Futures Trading Commission; or the National Credit Union Administration
that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

(m) he/she/it has never been subject to any order,
judgment or decree of any court of competent jurisdiction, that, at the time of such sale, restrained or enjoined him/her/it from engaging
or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security; (ii) involving the making
of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities
dealer, investment adviser or paid solicitor of purchasers of securities;

 

    3

     

    

 

(n) he/she/it has never been subject to any order
of the SEC that orders him/her/it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud
provision of the federal securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the
Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section
5 of the Securities Act;

 

(o) he/she/it has never been named as an underwriter
in any registration statement or Regulation A offering statement filed with the SEC that was the subject of a refusal order, stop order,
or order suspending the Regulation A exemption, or is, currently, the subject of an investigation or proceeding to determine whether
a stop order or suspension order should be issued;

 

(p) he/she/it has never been subject to a United
States Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary injunction
with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property
through the mail by means of false representations;

 

(q) he/she/it is not subject to a final order
of a state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or
examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like
functions); an appropriate federal banking agency; the Commodity Futures Trading Commission; or the National Credit Union Administration
that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging
in the business of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

(r) he/she/it is not subject to an order of the
SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or section 203(e) or 203(f) of the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that:
(i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser;
(ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii) bars
the undersigned from being associated with any entity or from participating in the offering of any penny stock; and

 

(s) he/she/it has never been suspended or expelled
from membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g., a registered
national securities exchange or a registered national or affiliated securities association) for any act or omission to act constituting
conduct inconsistent with just and equitable principles of trade.

 

9. The undersigned has full right and power, without
violating any agreement by which he, she or it is bound, to enter into this letter agreement [and to serve as a director and/or officer
of the Company].

 

10. The undersigned hereby waives any right to
exercise conversion rights with respect to any shares of the Company’s ordinary shares owned or to be owned by the undersigned,
directly or indirectly (or to sell such shares to the Company in a tender offer), whether such shares be part of the Founders’
Ordinary Shares or shares purchased by the undersigned in the IPO or in the aftermarket, and agrees not to seek conversion with respect
to such shares in connection with any vote to approve a Business Combination (or sell such shares to the Company in a tender offer in
connection with such a Business Combination).

 

11. (a) The undersigned hereby agrees to not propose,
or vote in favor of, approving a definitive agreement for a Business Combination unless Energy Cloud I Acquisition Corporation has (i)
announced that it has entered into a definitive agreement for an initial business combination or (ii) failed to timely consummate its
initial business combination and has liquidated its trust account.

 

(b) The undersigned hereby agrees to not propose,
or vote in favor of, an amendment to Article Seventh of the Articles prior to the consummation of a Business Combination unless the Company
provides public stockholders with the opportunity to convert their Ordinary Shares upon such approval in accordance with such Article
Seventh thereof.

 

    4

     

    

 

12. This letter agreement shall be governed by
and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction. Each of the Company and the undersigned hereby
(i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this letter agreement (a “Proceeding”)
shall be brought and enforced in the courts of the State of New York of the United States of America for the Southern District of New
York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. The undersigned irrevocably agrees to appoint Graubard Miller as agent
for the service of process in the State of New York to receive, for the undersigned and on his behalf, service of process in any Proceeding.
If for any reason such agent is unable to act as such, the undersigned will promptly notify the Company and the Representative and appoint
a substitute agent acceptable to each of the Company and the Representative within 30 days and nothing in this letter will affect the
right of either party to serve process in any other manner permitted by law.

 

14. As used herein, (i) a “Business
Combination” means a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other
similar business combination with one or more businesses or entities; (ii) “Insiders” means all officers, directors
and sponsor of the Company immediately prior to the IPO; (iii) “Founders’ Ordinary Shares” means all
of the Ordinary Shares of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares” means the
Ordinary Shares issued in the Company’s IPO; (v) “Private Securities” means the units and warrants that
are being sold privately by the Company simultaneously with the consummation of the IPO; (vi) “Trust Agreement”
means the Investment Management Trust Agreement between the Company and Continental Stock Transfer & Trust Company being entered
into in connection with the IPO and governing the use of funds held in the Trust Account; (vii) “Trust Account”
means the trust account into which a portion of the net proceeds of the IPO will be deposited; and (viii) “Registration Statement”
means the Company’s registration statement on Form S-1 (SEC File No. 333-•) filed with the Securities and Exchange Commission.

 

15. This Letter Agreement constitutes the entire
agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof
or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct
a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

16. Each of the undersigned acknowledges and understands
that the Underwriters and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with
the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative of, or a fiduciary with respect to, the
Company, its stockholders or any creditor or vendor of the Company with respect to the subject matter hereof.

 

	 	[•] 
	 	 
	 	 
	 	Signature
	 	 
	 	Acknowledged and Agreed:

 

	 	ENERGY CLOUD I ACQUISTION CORPORATION
	 	 
	 	By:	 
	 	 	Name: 	Qingxun (Kenn) Kong
	 	 	Title:	Chief Executive Officer

 

 

5

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