Document:

Exhibit 4.3.2

 

AMENDED AND RESTATED WARRANT AGREEMENT

 

This AMENDED AND RESTATED
WARRANT AGREEMENT (“Agreement”) is entered into as of December 10, 2020, by and between Fusion Fuel Green PLC,
a public limited company incorporated in Ireland (“Parent”), and Continental Stock Transfer & Trust Company,
a New York corporation, with offices at 1 State Street Plaza, New York, New York 10004 (“Warrant Agent”).

 

WHEREAS, in connection
with the initial public offering of units and simultaneous private placement of warrants of HL Acquisitions Corp., a British Virgin
Islands company (“HL”), HL engaged the Warrant Agent to act on behalf of HL in connection with the issuance,
registration, transfer, exchange, redemption, and exercise of HL’s warrants on the terms and conditions as set forth in the
Warrant Agreement dated as of June 27, 2018 between HL and the Warrant Agent (the “Prior Agreement”)

 

WHEREAS, HL entered
into a Business Combination Agreement, dated as of June 6, 2020 (as amended and restated on August 25, 2020, and as may be further
amended from time to time, the “Business Combination Agreement”), with Parent, Fusion Fuel Atlantic Limited,
a British Virgin Islands business company and wholly owned subsidiary of Parent (“Merger Sub”), Fusion Welcome
– Fuel, S.A., a public limited company domiciled in Portugal, sociedade anónima (“Fusion
Fuel”), and the shareholders of Fusion Fuel (“Fusion Fuel Shareholders”), pursuant to which, among
other things, upon the closing of the transactions contemplated by the Business Combination Agreement (“Closing”),
(i) Merger Sub will merge with and into HL (the “Merger”) with HL being the surviving entity of the Merger and
becoming a wholly-owned subsidiary of Parent, followed immediately by (ii) the acquisition by Parent of all of the issued and outstanding
shares of Fusion Fuel (the “Share Exchange”, and together with the Merger, the “Transactions”);

 

WHEREAS, effective
upon the consummation of the Merger, (i) each HL ordinary share outstanding on the closing date will be converted into one Class
A ordinary share of Parent (“Parent Class A Ordinary Shares”), except that holders of HL ordinary shares sold
in HL’s initial public offering will be entitled to elect instead to receive a pro rata portion of HL’s trust account,
as provided in HL’s amended and restated memorandum and articles of association (“M&A”), and except
for an aggregate of 125,000 ordinary shares of HL held by certain initial holders which will be forfeited and cancelled upon the
consummation of the Merger, (ii) each outstanding unit purchase option of HL will be terminated, forfeited and cancelled in consideration
for the issuance of an aggregate of 50,000 Parent Class A Ordinary Shares, (iii) each outstanding right of HL will be adjusted
for one-tenth of one ordinary share of HL immediately prior to the effective time of the Merger, and each such ordinary share of
HL will be converted into one Parent Class A Ordinary Share, (iv) each outstanding warrant issued by HL as part of the units in
HL’s initial public offering (“IPO Warrants”) will remain outstanding and, in accordance with Section
4.5 of the Prior Agreement, will be automatically adjusted to entitle the holder to subscribe for one Parent Class A Ordinary Share
at a price of $11.50 per share, subject to adjustment as set forth herein, (v) each outstanding warrant issued by HL in a private
placement (“Placement Warrants”) will remain outstanding and, in accordance with Section 4.5 of the Prior Agreement,
will be automatically adjusted to entitle the holder to subscribe for one Parent Class A Ordinary Share at a price of $11.50 per
share, subject to adjustment as set forth herein, and (vi) certain convertible notes of HL may be converted into warrants of HL
(“Working Capital Warrants”), and upon the Closing each Working Capital Warrant will remain outstanding and,
in accordance with Section 4.5 of the Prior Agreement, will be automatically adjusted to entitle the holder to purchase one Parent
Class A Ordinary Share at a price of $11.50 per share, subject to adjustment as set forth herein;

 

WHEREAS, upon consummation
of the Share Exchange, (i) the Fusion Fuel Shareholders will be issued a total of 2,125,000 Class B ordinary shares of Parent and
2,125,000 warrants of Parent (the “Fusion Fuel Warrants”), with each Fusion Fuel Warrant entitling the holder
to subscribe for one Parent Class A Ordinary Share at a price of $11.50 per share, subject to adjustment as set forth herein, and
(ii) the Fusion Fuel Shareholders holding Class A Shares of Fusion Fuel will have the right, upon the achievement of certain milestones
as set forth in the Business Combination Agreement, to receive their pro rata portion of up to an aggregate of 1,137,000 Parent
Class A Ordinary Shares and 1,137,000 warrants of Parent (the “Contingent Consideration Warrants” together with
the IPO Warrants , Placement Warrants, Working Capital Warrants, and Fusion Fuel Warrants, collectively, the “Warrants”),
with each Contingent Consideration Warrant entitling the holder to subscribe for one Parent Class A Ordinary Share at a price of
$11.50 per share, subject to adjustment as set forth herein;

 

     

     

    

 

WHEREAS, Parent, HL,
and the Warrant Agent entered into that certain Novation Agreement (“Novation Agreement”), dated on or about
the date hereof, pursuant to which, in accordance with Section 9.1 of the Prior Agreement, Parent was substituted for HL in the
Prior Agreement and became obligated to perform all of the duties of HL under the Prior Agreement;

 

WHEREAS, for the purpose
of curing any ambiguity as to whether the Prior Agreement applies to the Warrants following the Closing, Parent and the Warrant
Agent desire to amend and restate the Prior Agreement pursuant to Section 9.8 of the Prior Agreement, to provide that the same
form and provisions applicable under the Prior Agreement apply to the Warrants;

 

WHEREAS, in connection
with the termination of the unit purchase options upon the Closing, EarlyBirdCapital, Inc., the representative of the underwriters
of HL’s initial public offering has consented to the amendments to sections 2.7, 6.4, 7.4, 9.4, and 9.8 of the Prior Agreement
which remove all references to the “Representative” and “Representative Warrants”, as required by the Prior
Agreement; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of Parent and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of Parent, 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
Warrant Agent. Parent hereby appoints the Warrant Agent to act as agent for Parent for the Warrants, and the Warrant Agent
hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Warrants.

 

2.1. Form of Warrant.
Each Warrant shall be held 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 of Directors or Chief
Executive Officer and Chief Financial Officer, Treasurer, Secretary or Assistant Secretary of Parent and shall bear a facsimile
of Parent’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to
serve in the capacity in which such person signed the Warrant before such Warrant is delivered, it may be issued with the same
effect as if he or she had not ceased to be such at the date of delivery.

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant may be held in uncertificated or book-entry form through
the Warrant Agent and/or the facilities of The Depository Trust Company (the “Depositary”) or other book-entry
depositary system, in each case as determined by the Board of Directors of Parent or by an authorized committee thereof. Any Warrant
so held shall have the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent
in accordance with the terms of this Agreement.

 

2.3. Effect of Countersignature.
Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant Agent pursuant
to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant Register. The Warrant
Agent shall maintain books (“Warrant Register”) for the registration of original issuance, automatic adjustment
by virtue of the Merger and the registration of transfer of the Warrants. Upon the initial issuance or automatic adjustment of
the Warrants, the Warrant Agent shall deliver and register the Warrants in the names of the respective holders thereof in such
denominations and otherwise in accordance with instructions delivered to the Warrant Agent by Parent.

  

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

 

2.5. Private Warrant
Attributes. The Placement Warrants, Working Capital Warrants, Fusion Fuel Warrants and Contingent Consideration Warrants (collectively,
the “Private Warrants”) will be automatically adjusted or issued (as applicable) in the same form as the IPO
Warrants but they (i) will not be redeemable by Parent and (ii) may be exercised for cash or on a cashless basis at the holder’s
option in such manner as Parent’s management may specify, in either case as long as they are held by the initial purchasers
or their permitted transferees (as prescribed in Section 5.6 hereof). Once a Private Warrant is transferred to a holder other than
an affiliate or permitted transferee, it shall be treated as an IPO Warrant hereunder for all purposes.

   

3. Terms and Exercise of Warrants

 

3.1. Warrant Price.
Each Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject to the provisions of
such Warrant and of this Agreement, to subscribe from Parent the number of Parent Class A Ordinary Shares stated therein, at the
price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1.
The term “Warrant Price” as used in this Agreement refers to the price per share at which the Parent Class A
Ordinary Shares may be subscribed for at the time a Warrant is exercised. Parent in its sole discretion may lower the Warrant Price
at any time prior to the Expiration Date (as defined below) for a period of not less than ten (10) Business Days; provided, that
Parent shall provide at least ten (10) days prior written notice of such reduction to registered holders of the Warrants and, provided
further that any such reduction shall be applied consistently to all of the Warrants.

 

3.2. Duration of
Warrants. A Warrant may be exercised any time and from time to time beginning on the date hereof and terminating at 5:00 p.m.,
New York City time on the earlier to occur of (i) five years from the date hereof and (ii) the Redemption Date as provided in Section
6.2 of this Agreement, if applicable (“Expiration Date”). The period of time from the date the Warrants will
first become exercisable until the Expiration Date shall hereafter be referred to as the “Exercise Period.”
Except, as applicable, with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under
this Agreement shall cease at the close of business on the Expiration Date. Parent in its sole discretion may extend the duration
of the Warrants by delaying the Expiration Date; provided, however, that Parent will provide at least twenty (20) days written
notice prior to the then Expiration Date of any such extension to registered holders and, provided further that any such extension
shall be applied consistently to all of the Warrants.

 

3.3. Exercise of
Warrants.

 

3.3.1. Payment. Subject to the provisions
of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the registered holder
thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough
of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by paying
in full the Warrant Price for each Parent Class A Ordinary Share as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, as follows:

 

(a) by good certified check or
wire payable to the Warrant Agent; or

 

(b) in the event of redemption
pursuant to Section 6 hereof in which Parent’s management has elected to force all holders of Warrants to exercise such Warrants
on a “cashless basis,” by surrendering the Warrants for that number of Parent Class A Ordinary Shares equal to the
quotient obtained by dividing (x) the product of the number of Parent Class A Ordinary Shares underlying the Warrants, multiplied
by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value,
and by paying the nominal value (being US$0.0001 per share on the date of this Agreement) for each Parent Class A Ordinary Share.
Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported last sale
price of Parent Class A Ordinary Shares for the five (5) trading days ending on the third trading day prior to the date on which
the notice of redemption is sent to holders of the Warrants pursuant to Section 6 hereof; or 

 

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(c) with respect to any Private
Warrants, so long as such Private Warrants are held by the initial purchasers or their permitted transferees, by surrendering such
Private Warrants for that number of Parent Class A Ordinary Shares equal to the quotient obtained by dividing (x) the product of
the number of Parent Class A Ordinary Shares underlying such Private Warrants, multiplied by the difference between the exercise
price of such Private Warrants and the “Fair Market Value” (defined below) by (y) the Fair Market Value, and
by paying the nominal value (being US$0.0001 per share on the date of this Agreement) for each Parent Class A Ordinary Share; provided,
however, that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise price.
Solely for purposes of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price
of Parent Class A Ordinary Shares for the five (5) trading days ending on the trading day prior to the date of exercise; or

 

(d) in the event the registration
statement required by Section 7.4 hereof is not then effective, by surrendering such Warrants for that number of Parent Class A
Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Parent Class A Ordinary Shares underlying
the Warrants, multiplied by the difference between the exercise price of the Warrants and the “Fair Market Value” (defined
below) by (y) the Fair Market Value, and by paying the nominal value (being US$0.0001 per share on the date of this Agreement)
for each Parent Class A Ordinary Share; provided, however, that no cashless exercise shall be permitted unless the Fair Market
Value is equal to or higher than the exercise price. Solely for purposes of this Section 3.3.1(d), the “Fair Market Value”
shall mean the average reported last sale price of Parent Class A Ordinary Shares for the five (5) trading days ending on the trading
day prior to the date of exercise.

 

3.3.2. Issuance of Certificates. As
soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if any),
and except with respect to uncertificated Warrants as described above in Section 2.2, Parent shall issue to the registered holder
of such Warrant a certificate or certificates for the number of Parent Class A 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, and if such Warrant shall not have been exercised in full,
a new countersigned Warrant for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the
foregoing, in no event will Parent be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash
and Parent shall not be obligated to issue Parent Class A Ordinary Shares upon exercise of a Warrant unless Parent Class A Ordinary
Shares issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the
state of residence of the registered holder of the Warrants. In the event that the condition in the immediately preceding sentence
is not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash
and such Warrant may have no value and expire worthless. Warrants may not be exercised by, or securities issued to, any registered
holder in any state in which such exercise would be unlawful.

  

3.3.3. Valid Issuance. All Parent Class
A Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

 

3.3.4. Date of Issuance. Each person
in whose name any such certificate for Parent Class A Ordinary Shares is issued shall for all purposes be deemed to have become
the holder of record of such shares on the date on which the Warrant was surrendered and payment of the Warrant Price was made,
irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when
the share transfer books of Parent are closed, such person shall be deemed to have become the holder of such shares at the close
of business on the next succeeding date on which the share transfer books are open.

 

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3.3.5 Maximum Percentage. A holder
of a Warrant may notify Parent in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5;
however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election
is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have
the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum Percentage”)
of the Parent Class A Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of Parent Class A Ordinary Shares beneficially owned by such person and its affiliates shall include
the number of Parent Class A Ordinary Shares issuable upon exercise of the Warrant with respect to which the determination of such
sentence is being made, but shall exclude Parent Class A Ordinary Shares that would be issuable upon (x) exercise of the remaining,
unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised
or unconverted portion of any other securities of Parent beneficially owned by such person and its affiliates (including, without
limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise
analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial
ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). For purposes of the Warrant, in determining the number of outstanding Parent Class A Ordinary Shares, the holder
may rely on the number of outstanding Parent Class A Ordinary Shares as reflected in (1) Parent’s most recent annual report
on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the Securities and Exchange
Commission as the case may be, (2) a more recent public announcement by Parent or (3) any other notice by Parent or the Warrant
Agent setting forth the number of Parent Class A Ordinary Shares outstanding. For any reason at any time, upon the written request
of the holder of the Warrant, Parent shall, within two (2) Business Days, confirm orally and in writing to such holder the number
of Parent Class A Ordinary Shares then outstanding. In any case, the number of outstanding Parent Class A Ordinary Shares shall
be determined after giving effect to the conversion or exercise of equity or debt securities of Parent by the holder and its affiliates
since the date as of which such number of outstanding Parent Class A Ordinary Shares was reported. By written notice to Parent,
the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other
percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st)
day after such notice is delivered to Parent.

  

4. Adjustments.

 

4.1. Share Dividends;
Split Ups. If after the Closing, the number of outstanding Parent Class A Ordinary Shares is increased by a share dividend
payable in Parent Class A Ordinary Shares, or by a split up of Parent Class A Ordinary Shares, or other similar event, then, on
the effective date of such share dividend, split up or similar event, the number of Parent Class A Ordinary Shares issuable on
exercise of each Warrant shall be increased in proportion to such increase in outstanding Parent Class A Ordinary Shares.

 

4.2. Aggregation
of Shares. If after the Closing, the number of outstanding Parent Class A Ordinary Shares is decreased by a consolidation,
combination, reverse share split or reclassification of Parent Class A Ordinary Shares or other similar event, then, on the effective
date of such consolidation, combination, reverse share split, reclassification or similar event, the number of Parent Class A Ordinary
Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding Parent Class A Ordinary
Shares.

 

4.3 Extraordinary
Dividends. If Parent, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the Parent Class A Ordinary Shares or other shares of Parent’s capital
into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value
(as determined by Parent’s Board of Directors, in good faith) of any securities or other assets paid on each Parent Class
A Ordinary Share in respect of such Extraordinary Dividend; provided, however, that none of the following shall be deemed an Extraordinary
Dividend for purposes of this provision: (a) any adjustment described in subsection 4.1 above or (b) any cash dividends or cash
distributions which, when combined on a per share basis with all other cash dividends and cash distributions paid on the Parent
Class A Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution does not exceed
$0.50 (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding
cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Parent Class A Ordinary
Shares issuable on exercise of each Warrant) but only with respect to the amount of the aggregate cash dividends or cash distributions
equal to or less than $0.50. Solely for purposes of illustration, if Parent, at a time while the Warrants are outstanding and unexpired,
pays a cash dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Parent
Class A Ordinary Shares during the 365-day period ending on the date of declaration of such $0.35 dividend, then the Warrant Price
will be decreased, effectively immediately after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the
difference between $0.75 (the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period,
including such $0.35 dividend) and $0.50 (the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash
distributions paid or made in such 365-day period prior to such $0.35 dividend)).

  

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4.4 Adjustments
in Exercise Price. Whenever the number of Parent Class A Ordinary Shares issuable upon the exercise of the Warrants is adjusted,
as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of Parent Class A Ordinary
Shares issuable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall
be the number of Parent Class A Ordinary Shares so issuable immediately thereafter.

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Parent Class A
Ordinary Shares (other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of Parent Class
A Ordinary Shares), or in the case of any merger or consolidation of Parent with or into another corporation (other than a consolidation
or merger in which Parent is the continuing corporation and that does not result in any reclassification or reorganization of the
outstanding Parent Class A Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the assets
or other property of Parent as an entirety or substantially as an entirety in connection with which Parent is dissolved, the Warrant
holders shall thereafter have the right to subscribe for and receive, upon the basis and upon the terms and conditions specified
in the Warrants and in lieu of the Parent Class A Ordinary Shares immediately theretofore issuable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to
such event; and if any reclassification also results in a change in the Parent Class A Ordinary Shares covered by Section 4.1,
4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of
this Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other
transfers.

  

4.6. Notices of
Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
Parent shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of shares issuable at such price upon the exercise of a Warrant, setting forth
in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event
specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, then, in any such event, Parent shall give written notice to each Warrant holder,
at the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure
to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.7. No Fractional
Warrants or Shares. No fractional Warrants will be held or issued hereunder. Additionally, notwithstanding any provision contained
in this Agreement to the contrary, Parent shall not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment
made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional
interest in a share, Parent shall, upon such exercise, round up to the nearest whole number of Parent Class A Ordinary Shares to
be issued to the Warrant holder.

 

4.8. Form of Warrant.
The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants delivered after such
adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrant initially delivered pursuant
to this Agreement. However, Parent may at any time in its sole discretion make any change in the form of Warrant that Parent may
deem appropriate and that does not affect the substance thereof, and any Warrant thereafter delivered or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

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4.9 Other Events.
In case any event shall occur affecting Parent as to which none of the provisions of preceding subsections of this Section 4 are
strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, Parent shall appoint a firm
of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent
and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. Parent shall
adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

  

5. Transfer and Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant
Register, upon surrender of such Warrant for transfer. If the Warrant surrendered is in certificated form, such surrendered Warrant
shall be properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any
such transfer, a new Warrant representing an equal aggregate number of Warrants shall be delivered and the old Warrant shall be
cancelled by the Warrant Agent. The Warrants so cancelled shall be delivered by the Warrant Agent to Parent from time to time upon
request.

 

5.2. Instrument
of Transfer: The instrument of transfer of any Warrant may be executed for and on behalf of the transferor by any party designated
by the Board of Parent for such purpose, and Parent or any other party designated by the Board of Parent for such purpose shall
be deemed to have been irrevocably appointed agent for the transferor of such Warrant or Warrants with full power to execute, complete
and deliver in the name of and on behalf of the transferor of such Warrant or Warrants all such transfers of Warrants held by the
Warrant holders. Any document which records the name of the transferor, the name of the transferee, the number of Warrants agreed
to be transferred, the date of the agreement to transfer the Warrants and price per Warrants, shall, once executed by the transferor
or any other party designated by the Board of Parent for such purpose as agent for the transferor, be deemed to be a proper instrument
of transfer. The transferor shall be deemed to remain a Warrant holder until the name of the transferee is entered on the Warrant
Register in respect thereof, and neither the title of the transferee nor the title of the transferor shall be affected by any irregularity
or invalidity in the proceedings in reference to the sale should the Board of Parent so determine.

 

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

 

5.4. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the
delivery of a warrant certificate or book entry position for a fraction of a warrant.

 

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

 

5.6. Warrant Execution
and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Warrants required to be delivered in certificated form pursuant to the provisions of this Section 5, and Parent,
whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of Parent for such
purpose.

 

5.7 Fusion Fuel
Warrants and Contingent Consideration Warrants. The Warrant Agent shall not register any transfer of Fusion Fuel Warrants or
Contingent Consideration Warrants until the date that is the one year anniversary of the Closing of the Business Combination Agreement,
except for transfers (i) to Parent’s officers, directors, initial shareholders, employees, consultants or their affiliates,
(ii) to a holder’s shareholders, officers, directors, employees or members upon the holder’s liquidation, (iii) by
bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member
of the holder’s immediate family for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon
death of a holder, or (v) pursuant to a qualified domestic relations order.

 

    7 

     

    

 

6. Redemption.

 

6.1. Redemption.
Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of Parent, at any time
during the Exercise Period (so long as there is a current registration statement in effect with respect to the Parent Class A Ordinary
Shares underlying the Warrants), at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$0.01 per Warrant (“Redemption Price”), provided that the closing price of the Parent Class A Ordinary Shares
equals or exceeds $18.00 per share (subject to adjustment in accordance with Section 4 hereof), on each of twenty (20) trading
days within any thirty (30) trading day period ending on the third business day prior to the date on which notice of redemption
is given.

 

6.2. Date Fixed
for, and Notice of, Redemption. In the event that Parent shall elect to redeem all of the Warrants that are subject to redemption,
Parent shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by
first class mail, postage prepaid, by Parent not less than thirty (30) days prior to the Redemption Date to the registered holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the
manner herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such
notice.

 

6.3. Exercise After
Notice of Redemption. The IPO Warrants may be exercised for cash (or on a “cashless basis” in accordance with Section
3 of this Agreement) at any time after notice of redemption shall have been given by Parent pursuant to Section 6.2 hereof and
prior to the Redemption Date. In the event that Parent determines to require all holders of IPO Warrants to exercise their IPO
Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information
necessary to calculate the number of Parent Class A Ordinary Shares to be received upon exercise of the Warrants, including the
“Fair Market Value” in such case and the aggregate nominal value to be paid for the relevant Parent Class A Ordinary
Shares which are the subject of such redemption notice. On and after the Redemption Date, the record holder of the Warrants shall
have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

  

6.4 Exclusion of
Certain Warrants. Parent understands that the redemption rights provided for by this Section 6 apply only to outstanding Warrants.
To the extent a person holds rights to purchase Warrants, such purchase rights shall not be extinguished by redemption. However,
once such purchase rights are exercised, Parent may redeem the Warrants issued upon such exercise provided that the criteria for
redemption is met. Additionally, Parent agrees that the redemption rights provided in this Section 6 shall not apply to the Private
Warrants if at the time of the redemption such Private Warrants continue to be held by the initial purchasers or their permitted
transferees. However, once any such Private Warrants are transferred (other than to permitted transferees under Section 5.6), Parent
may redeem such Private Warrants in the same manner as the IPO Warrants.

 

7. Other Provisions Relating to Rights of Holders of Warrants.

 

7.1. No Rights as
Shareholder. A Warrant does not entitle the registered holder thereof to any of the rights of a shareholder of Parent, 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 Parent or any other
matter.

 

7.2. Lost, Stolen,
Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, Parent and the Warrant 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 Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of Parent, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

    8 

     

    

 

7.3. Reservation
of Parent Class A Ordinary Shares. Parent shall at all times reserve and keep available a number of its authorized but unissued
Parent Class A Ordinary Shares that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant
to this Agreement.

 

7.4. Registration
of Parent Class A Ordinary Shares underlying IPO Warrants and Placement Warrants. On [●], 2020, the registration statement
on Form F-4 (Commission File No. 333-245052) registering the Parent Class A Ordinary Shares issuable upon the exercise of the IPO
Warrants and Placement Warrants was declared effective by the Commission. Parent will use its best efforts to maintain the effectiveness
of such registration statement until the expiration of the Warrants in accordance with the provisions of this Agreement and to
take such action as is necessary to register or qualify for sale, in those states in which the Warrants were initially offered
by Parent and in those states where holders of Warrants then reside, the Parent Class A Ordinary Shares issuable upon exercise
of the Warrants, to the extent an exemption is not available. During any period when Parent shall fail to have maintained an effective
registration statement covering the Parent Class A Ordinary Shares issuable upon exercise of the Warrants, the holders of the Warrants
shall have the right to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1.
Parent shall provide the Warrant Agent with an opinion of counsel for Parent (which shall be an outside law firm with securities
law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required
to be registered under the Act and (ii) the Parent Class A Ordinary Shares issued upon such exercise will be freely tradable under
U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of Parent and,
accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants
have been exercised on a cashless basis, Parent shall continue to be obligated to comply with its registration obligations under
the first three sentences of this Section 7.4.

 

8. Concerning the Warrant Agent and Other Matters.

 

8.1. Payment of
Taxes. Parent will from time to time promptly pay all taxes and charges that may be imposed upon Parent or the Warrant Agent
in respect of the issuance or delivery of Parent Class A Ordinary Shares upon the exercise of Warrants, but Parent shall not be
obligated to pay any transfer taxes in respect of the Warrants or such shares. Parent, at its absolute discretion, may, or may
procure that a subsidiary of Parent shall, pay Irish stamp duty arising on a transfer of Warrants on behalf of the transferee of
such Warrants of Parent. If stamp duty resulting from the transfer of Warrants in Parent which would otherwise by payable by the
transferee is paid by Parent or any subsidiary of Parent on behalf of the transferee, then in those circumstances, Parent shall,
on its or on behalf of its subsidiary (as the case may be), be entitled to (i) reimbursement of the stamp duty from the transferee,
(ii) set-off an amount equal to the stamp duty against any Parent Class A Ordinary Shares issuable on exercise of the Warrants
and (ii) claim a first and paramount lien on the Warrants on which stamp duty has been paid by Parent or its subsidiary for the
amount of stamp duty paid.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment of Successor Warrant
Agent. The Warrant 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 Parent. If the office of the Warrant
Agent becomes vacant by resignation or incapacity to act or otherwise, Parent shall appoint in writing a successor Warrant Agent
in place of the Warrant Agent. If Parent shall fail to make such appointment within a period of thirty (30) days after it has been
notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall, with such
notice, submit his Warrant for inspection by Parent), then the holder of any Warrant may apply to the Supreme Court of the State
of New York for the County of New York for the appointment of a successor Warrant Agent at Parent’s cost. Any successor Warrant
Agent, whether appointed by Parent or by such court, shall be a corporation organized and existing under the laws of the State
of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After
appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations
of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or
deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the
expense of Parent, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor
Warrant Agent hereunder; and upon request of any successor Warrant Agent Parent shall make, execute, acknowledge, and deliver any
and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such
authority, powers, rights, immunities, duties, and obligations.

  

    9 

     

    

 

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

 

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

 

8.3. Fees and Expenses
of Warrant Agent.

 

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

 

8.3.2. Further Assurances. Parent 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 Warrant Agent for the carrying out or performing
of the provisions of this Agreement.

 

8.4. Liability of
Warrant Agent.

 

8.4.1. Reliance on Parent Statement.
Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or desirable that any
fact or matter be proved or established by Parent 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 an executive officer or the Chairman of the Board of Directors of Parent and delivered to the Warrant Agent.
The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

8.4.2. Indemnity. The Warrant Agent
shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Parent agrees to indemnify the Warrant
Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything
done or omitted by the Warrant Agent in the execution of this Agreement except (i) as a result of the Warrant Agent’s gross
negligence, willful misconduct, or bad faith; or (ii) any Tax imposed on or calculated by reference to the net income received
or receivable by the Warrant Agent. 

 

8.4.3. Exclusions. The Warrant Agent
shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any
Warrant (except its countersignature thereof); nor shall it be responsible for any breach by Parent of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions
of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence
of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty
as to the authorization or reservation of any Parent Class A Ordinary Shares to be issued pursuant to this Agreement or any Warrant
or as to whether any Parent Class A Ordinary Shares will, when issued, be valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth and among other things, shall account promptly to Parent with respect to Warrants exercised
and concurrently account for, and pay to Parent, all monies received by the Warrant Agent for the subscription of Parent Class
A Ordinary Shares through the exercise of Warrants.

 

    10 

     

    

 

9. Miscellaneous Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of Parent or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns.

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on Parent 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 (5) days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by Parent with the Warrant Agent), as follows:

 

Fusion Fuel Green PLC

10 Earlsfort Terrace

Dublin 2, D02 T380, Ireland

Attention: Frederico Figueira de Chaves, Chief Financial Officer

Email: frederico@keyfh.com

 

with a copy, which
shall not constitute notice, to:

 

Arthur Cox

10 Earlsfort Terrace

Dublin 2, D02 T380, Ireland

Attn: Connor Manning, Esq.

Email: connor.manning@arthurcox.com

 

and

 

Feinberg Hanson LLP

855 Boylston Street, 8th Floor

Boston, MA 02116

Attn: David H. Feinberg, Esq.

Email: dfeinberg@feinberghanson.com

  

Any notice, statement or demand authorized by this Agreement
to be given or made by the holder of any Warrant or by Parent to or on the Warrant 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 Warrant Agent with Parent), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street Plaza

New York, New York 10004

Attn: Compliance Department

 

9.3. Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants 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. Parent 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. Parent 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 Parent 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 9.2 hereof. Such mailing shall
be deemed personal service and shall be legal and binding upon Parent in any action, proceeding or claim.

  

    11 

     

    

 

9.4. 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 Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant,
condition, stipulation, promise, or agreement 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 their successors and assigns and of the
registered holders of the Warrants.

 

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

9.6. 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.

 

9.7. 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.

 

9.8 Entire Agreement;
Amendments. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and
supersedes any prior agreements and understandings, both written and oral, among the Parties and any of their respective affiliates
with respect to the subject matter hereto. 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, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require
the written consent or vote of the registered holders of a majority of the then outstanding Warrants; provided, that this Agreement
may not be modified or amended in a manner that would negatively impact any holder or group of holders differently from other holders
without the written consent of such holder or a majority of such group of holders negatively impacted, as applicable. Notwithstanding
the foregoing, Parent may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2,
respectively, without the consent of the registered holders.

  

9.9 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]

 

    12 

     

    

 

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

 

	 	FUSION FUEL GREEN PLC
	 	 	 	 
	 	By:	/s/ Frederico Figueira de Chaves
	 	 	Name:	Frederico Figueira de Chaves
	 	 	Title:	Director

 

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Ana Gois
	 	 	Name:	 Ana Gois
	 	 	Title:	 Vice President

 

    13Exhibit 10.3

 

AMENDED AND RESTATED STOCK ESCROW AGREEMENT

 

This AMENDED AND RESTATED
STOCK ESCROW AGREEMENT, dated as of December 10, 2020 (“Amended and Restated Escrow Agreement”), by and among
HL ACQUISITIONS CORP., a British Virgin Islands company (“HL”), FUSION FUEL GREEN PLC, a public limited company
incorporated in Ireland (“Parent”), the individuals and entities listed on Exhibit A hereto (collectively the
“Founders”), and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York corporation (“Escrow Agent”)
amends and restates in its entirety that certain Stock Escrow Agreement by and among HL, the Founders, and the Escrow Agent dated
June 27, 2018 (“Prior Agreement”).

 

WHEREAS, in connection
with the initial public offering of units of HL, the Founders agreed to deposit all of the ordinary shares of HL, no par value
(“HL Ordinary Shares”), owned by them into escrow pursuant to the terms and conditions of the Prior Agreement;

 

WHEREAS, HL has entered
into a Business Combination Agreement, dated as of June 6, 2020 (as amended and restated on August 25, 2020, and as may be further
amended from time to time, the “Business Combination Agreement”), with Parent, Fusion Fuel Atlantic Limited,
a British Virgin Islands business company and wholly owned subsidiary of Parent (“Merger Sub”), Fusion Welcome
– Fuel, S.A., a public limited company domiciled in Portugal, sociedade anónima (“Fusion
Fuel”), and the shareholders of Fusion Fuel (“Fusion Fuel Shareholders”) and, as a result of the transactions
contemplated by the Business Combination Agreement, among other things, each outstanding HL Ordinary Share will be converted into
one Class A ordinary share of Parent (“Parent Class A Ordinary Shares”);

 

WHEREAS, pursuant to
Section 1.6 of the Business Combination Agreement and Section 4.3(vi) of the Prior Agreement, certain of the Founders have instructed
the Escrow Agent to release an aggregate of 125,000 HL Ordinary Shares (“Forfeited Shares”) from escrow to HL
for the termination and cancellation of such Forfeited Shares;

 

WHEREAS, pursuant to
Section 8.18 of the Business Combination Agreement, each Parent Class A Ordinary Share received by the Founders upon consummation
of the business combination shall be subject to the same transfer restrictions as set forth in the Prior Agreement;

 

WHEREAS, HL, Parent,
and the Founders desire that the Escrow Agent hold the Parent Class A Ordinary Shares held by the Founders in escrow, subject to
the terms of this Amended and Restated Escrow Agreement;

 

WHEREAS, each of the
parties to the Prior Agreement is a signatory to this Amended and Restated Escrow Agreement, satisfying the requirements for amendments
as set forth in Section 6.3 of the Prior Agreement; and

 

WHEREAS, each of the
Founders hereby appoints Jeffrey E. Schwarz as the initial representative (“HL Representative”) to represent
the interests of the Founders for purposes of selecting and discharging the Escrow Agent and any successor escrow agents hereunder,
receiving notices to the Founders, and accepting service of process on Founders resident outside the State of New York, all as
set forth herein.

 

IT IS AGREED:

 

1. Appointment of
Escrow Agent. HL, Parent, and the Founders hereby appoint the Escrow Agent to act in accordance with and subject to the terms
of this Amended and Restated Escrow Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance
with and subject to such terms.

 

     

     

    

 

2. Deposit of Shares.
On or about the date hereof and upon consummation of the Business Combination, HL shall instruct the Escrow Agent to (i) release
the Forfeited Shares from escrow for cancellation and forfeiture and (ii) exchange each remaining HL Ordinary Share held in escrow
pursuant to the Prior Agreement for one Parent Class A Ordinary Share, with such Parent Class A Ordinary Shares to be held and
disbursed subject to the terms and conditions of this Amended and Restated Escrow Agreement. Each Founder acknowledges that the
certificate representing such Founder’s Parent Class A Ordinary Shares will be legended to reflect the deposit of such shares
under this Amended and Restated Escrow Agreement.

 

3. Disbursement
of the Escrow Shares. Except as otherwise set forth herein, the Escrow Agent shall hold the Parent Class A Ordinary Shares
deposited into escrow pursuant to Section 2 above (such shares to be referred to herein as the “Escrow Shares”)
until (i) with respect to 50% of the Escrow Shares, the earlier of (x) one year after the date hereof and (y) the date on which
the closing price of the Parent Class A Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share
dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing from the
date hereof and (ii) with respect to the remaining 50% of the Escrow Shares, one year after the date hereof (such period of time
during which the Escrow Shares are held in escrow, the “Escrow Period”). Upon completion of the Escrow Period,
the Escrow Agent shall disburse such amount of each Founder’s Escrow Shares to such Founder; provided, however, that if,
within the Escrow Period, Parent subsequently consummates a liquidation, merger, stock exchange or other similar transaction which
results in all of the shareholders of such entity having the right to exchange their Parent Class A Ordinary Shares for cash, securities
or other property, then the Escrow Agent will, upon receipt of a notice executed by the Chairman of the Board, executive officer
or other authorized representative of Parent, in form reasonably acceptable to the Escrow Agent, certifying that such transaction
is then being consummated or such conditions have been achieved, as applicable, release the Escrow Shares to the Founders at such
time that will allow the Founders to exchange their Escrow Shares along with the other holders of Parent Class A Ordinary Shares
in such transaction. The Escrow Agent shall have no further duties hereunder after the disbursement of the Escrow Shares in accordance
with this Section 3.

 

4. Rights of Founders in Escrow Shares.

 

4.1 Voting Rights
as a Shareholder. Except as herein provided, the Founders shall retain all of their rights as shareholders of Parent as long
as any shares are held in escrow pursuant to this Amended and Restated Escrow Agreement, including, without limitation, the right
to vote such shares.

 

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

 

4.3 Restrictions on
Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) to the Founders and Parent’s
officers, directors, employees, consultants or their affiliates, (ii) to a Founder’s stockholders, partners or members upon
such Founder’s liquidation, (iii) by bona fide gift to a member of the Founder’s immediate family or to a trust, the
beneficiary of which is the Founder or a member of the Founder’s immediate family for estate planning purposes, (iv) by virtue
of the laws of descent and distribution upon death of a Founder, or (v) pursuant to a qualified domestic relations order binding
on a Founder; provided, however, that except with Parent’s prior written consent, such permitted transfers may be implemented
only upon the respective transferee’s written agreement to be bound by the terms and conditions of this Amended and Restated
Escrow Agreement.

 

    2 

     

    

 

5. Concerning the Escrow Agent.

 

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

 

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

 

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

 

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

 

    3 

     

    

 

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

 

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

 

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

 

6. Miscellaneous.

 

6.1 Governing Law.
This Amended and Restated Escrow Agreement shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws
of another jurisdiction. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the
City of New York, Borough of Manhattan, for purposes of resolving any disputes hereunder. As to any claim, cross-claim, or counterclaim
in any way relating to this Amended and Restated Escrow Agreement, each party waives the right to trial by jury. Each of the Founders
with an address outside of the State of New York irrevocably agrees to appoint the HL Representative as its agent for service of
process in the State of New York to receive, for such Founder and on his, her, or its behalf, service of process in any action,
proceeding, or claim against him, her, or it arising out of or relating in any way to this Agreement.

 

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

 

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

 

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

 

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

 

    4 

     

    

 

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

 

If to Parent, to:

 

Fusion Fuel Green PLC

10 Earlsfort Terrace

Dublin 2, D02 T380, Ireland

Attention: Frederico Figueira de Chaves, Chief Financial Officer

Email: frederico@keyfh.com

 

with a copy, which shall not constitute notice,
to:

 

Arthur Cox

10 Earlsfort Terrace

Dublin 2, D02 T380, Ireland

Attn: Connor Manning, Esq.

Email: connor.manning@arthurcox.com

 

and

 

Feinberg Hanson LLP

855 Boylston Street, 8th Floor

Boston, MA 02116

Attn: David H. Feinberg, Esq.

Email: dfeinberg@feinberghanson.com

 

If to the Founders, notice shall be given
to HL Representative on behalf of the Founders, to:

 

Jeffrey Schwarz

c/o Metropolitan Capital Advisors,
Inc.

499 Park Avenue, 12th Floor

New York, NY 10022

Email: jschwarz@metrocap.com

 

with a copy, which shall not constitute notice,
to:

 

Graubard Miller

The Chrysler Building

405 Lexington Ave, 11th Floor

New York, NY 10174

Attn: David Alan Miller, Esq. / Jeffrey M. Gallant,
Esq.

Email: dmiller@graubard.com / jgallant@graubard.com

 

    5 

     

    

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust
Company

1 State Street

New York, New York 10004

Attn: Chairman

Fax No.:

Email:

 

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

 

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

 

 

[Signature Page Follows]

 

    6 

     

    

 

WITNESS the execution of this Amended and
Restated Escrow Agreement as of the date first above written.

 

	 	HL ACQUISITIONS CORP.
	 	 	 
	 	By:	/s/
Jeffrey E. Schwarz
	 	 	Name: 	Jeffrey E. Schwarz
	 	 	Title: 	Chief Executive Officer
	 	 	 
	 	FUSION FUEL GREEN PLC
	 	 	 
	 	By:	/s/
Frederico Figueira de Chaves
	 	 	Name: 	Frederico Figueira de Chaves
	 	 	Title: 	Chief Executive Officer
	 	 	 	 
	 	FOUNDERS
	 	 	 	 
	 	/s/ Wendy Schwarz
	 	Wendy Schwarz
	 	 	 	 
	 	/s/ Jeffrey E. Schwarz
	 	Jeffrey E. Schwarz

 

	 	JEFFREY SCHWARZ CHILDREN’S TRUST
	 	 	 
	 	By:	/s/
Craig Frank
	 	Name: 	Craig Frank
	 	Title: 	Trustee

 

	 	/s/ Joel Greenblatt
	 	
        Joel Greenblatt

	 	 
	 	/s/
Karen Finerman
	 	Karen Finerman
	 	 
	 	/s/
Craig Effron
	 	Craig Effron
	 	 
	 	/s/
Curtis Schenker
	 	Curtis Schenker
	 	 
	 	/s/
Jonathan Guss
	 	Jonathan Guss
	 	 
	 	/s/
Stephanie Guss
	 	Stephanie Guss

 

    7 

     

    

 

	 	STERN YOI LIMITED PARTNERSHIP

 

	 	By:	/s/
Yoav Stern
	 	 	Name: 	Yoav Stern
	 	 	Title:	 

 

	 	/s/
Greg Drechsler
	 	Greg Drechsler
	 	 
	 	/s/
Benjamin Schwarz
	 	Benjamin Schwarz

 

	 	LUNDE3 HOLDING AS
	 	 
	 	
        

        

        By:
	 /s/ Rune Magnus Lundetrae

	 	
        Name:
	Rune Magnus Lundetrae

         

	 	Title:	Director
	 	 	 

	 	/s/ Ajay Khandelwal
	 	Ajay Khandelwal

 

	 	KEY FAMILY HOLDINGS INVESTIMENTOS E CONSULTORIA DE GESTÃO LDA.
	 	 	 
	 	By:	/s/ Frederico Figueira de Chaves
	 	 	Name:	Frederico Figueira de Chaves
	 	 	Title:	Director
	 	 	 
	 	ESCROW AGENT:
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/
Ana Gois
	 	 	Name: 	Ana Gois
	 	 	Title: 	Vice President

 

    8 

     

    

 

EXHIBIT A

 

	Name of Founder	 	Number
 of Shares
	 
	Jeffrey Schwarz	 	 	634,241	 
	 	 	 	 	 
	Wendy Schwarz	 	 	184,194	 
	 	 	 	 	 
	Joel Greenblatt	 	 	46,600	 
	 	 	 	 	 
	Jeffrey Schwarz Children’s Trust	 	 	139,964	 
	 	 	 	 	 
	Karen Finerman	 	 	60,922	 
	 	 	 	 	 
	Craig Effron	 	 	7,906	 
	 	 	 	 	 
	Curtis Schenker	 	 	7,906	 
	 	 	 	 	 
	Jonathan Guss	 	 	30,588	 
	 	 	 	 	 
	Stephanie Guss	 	 	5,331	 
	 	 	 	 	 
	Greg Drechsler	 	 	22,507	 
	 	 	 	 	 
	Ben Schwarz	 	 	50,000	 
	 	 	 	 	 
	Ajay Khandelwal	 	 	16,880	 
	 	 	 	 	 
	Lunde3 Holding AS	 	 	16,880	 
	 	 	 	 	 
	Stern YOI Limited Partnership	 	 	9,887	 
	 	 	 	 	 
	Key Family Holdings Investimentos e Consultoria de Gestão Lda.	 	 	16,194	 

 

    A-1

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