Document:

Exhibit 10.11

 

	From:	Trine II Acquisition Corp.
	 	228 Park Avenue S., Ste 63482
	 	New York, New York 10003
	 	 
	To:	The Purchaser Identified on the Signature Page Hereto
	 	 
	RE:	Securities Purchase Agreement
	 	 
	Date:	

 

 

Ladies and Gentlemen:

 

This agreement (this “Agreement”)
is entered into on the date set forth above by and between the purchaser signatory hereto (the “Purchaser”) and Trine II Acquisition
Corp., a Cayman Islands exempted company (the “Company”). Pursuant to the terms hereof, the Company hereby accepts the offer
the Purchaser has made to subscribe for and purchase the number of shares (the “Shares”) of Class B ordinary shares, $0.0001
par value per share, of the Company (the “Class B Shares”), and the number of private placement warrants to purchase Class
A Shares (as defined below) (the “Private Placement Warrants, and together with the Shares, the Securities”), each as specified
on the signature page to this Agreement, all of which are subject to forfeiture by the Purchaser pursuant to Section 3 if the Purchaser’s
indication of interest in the initial public offering (the “IPO”) of units (the “Units”) of the Company, which
shall not in the aggregate, when taken together with the Units purchased by any Attribution Party (as defined herein) of the Purchaser,
exceed 9.9% of the Units sold in the IPO (for the avoidance of doubt, without regard for any Units sold as part of the exercise of the
over-allotment option) (the “IPO Purchase Amount”), is withdrawn or not fulfilled (unless the reason for such non-fulfillment
is the underwriters of the IPO allocating less than the IPO Purchase Amount to the Purchaser). The Company’s and the Purchaser’s
agreements regarding such Securities are as follows:

 

1. Purchase of Securities.

 

1.1. Purchase of Securities.
For the sum set forth on the signature page hereto (the “Purchase Price”), the Company hereby agrees to sell the Securities
to the Purchaser, and the Purchaser hereby agrees to purchase the Securities from the Company on the terms and subject to the conditions
set forth in this Agreement. The Purchaser shall pay the Purchase Price to the Company as promptly as possible following the signing of
this Agreement, but in no event no later than five (5) business following the signing of this Agreement. The Company shall promptly effect
delivery of the Securities in book-entry form (including by updating its register of members) to the Purchaser immediately prior to the
closing of the IPO. The IPO Purchase Amount, the Purchase Price and the aggregate amount of Shares and Private Placement Warrants subscribed
for by the Purchaser, each as set forth on the signature page to this Agreement, are based on the assumption that the Company will issue
30.0 million Units in the IPO. To the extent the Company issues less than 30.0 million Units in the IPO, the IPO Purchase Amount, the
Purchase Price and the aggregate amount of Shares and Private Placement Warrants delivered to the Purchaser shall be decreased proportionately
based on the amount of Units issued in the IPO.

 

     

     

    

 

1.2 Limitations on Conversion
or Exercise. Notwithstanding anything to the contrary in this Agreement or the Company’s amended and restated memorandum and articles
of association, the Company shall not effect (a) the conversion of any Shares into shares of Class A ordinary shares, $0.0001 par value
per share, of the Company (the “Class A Shares”) or (b) the exercise of Private Placement Warrants for Class A Shares, and
the Purchaser shall not have the right to convert or exercise any such Securities pursuant to the terms and conditions of this Agreement,
the warrant agreement governing the Private Placement Warrants or the Company’s amended and restated memorandum and articles of
association and any such conversion shall be null and void and treated as if never made, to the extent that, after giving effect to such
conversion or exercise, the Purchaser together with other Attribution Parties collectively would beneficially own in excess of 9.9% (the
“Maximum Percentage”) of the Class A Shares outstanding immediately after giving effect to such conversion or exercise. For
purposes of the foregoing sentence, the aggregate number of Class A Shares beneficially owned by the Purchaser and the other Attribution
Parties shall include the number of Class A Shares held by the Purchaser and all other Attribution Parties plus the number of Class A
Shares issuable upon conversion or exercise of the Securities with respect to which the determination of such sentence is being made,
but shall exclude Class A Shares which would be issuable upon (A) conversion or exercise of the remaining, non-converted or unexercised
Securities beneficially owned by the Purchaser or any of the other Attribution Parties and (B) exercise or conversion of the unexercised
or non-converted portion of any other securities of the Company (including, without limitation, any warrants) beneficially owned by the
Purchaser or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation contained in this
Section 1.2. For purposes of this Section 1.2, 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 determining the number of outstanding Class A Shares
that the Purchaser may acquire upon the conversion or exercise of the Securities without exceeding the Maximum Percentage, the Purchaser
may rely on the number of outstanding Class A Shares as reflected in (x) the Company’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 (the “SEC”),
as the case may be, (y) a more recent public announcement by the Company or (z) any other written notice by the Company or the transfer
agent of the Company, if any, setting forth the number of Class A Shares issued and outstanding (the “Reported Outstanding Share
Number”). If the Company receives a request for conversion of the Shares or exercise of the Private Placement Warrants from the
Purchaser (a “Request”) at a time when the actual number of issued and outstanding Class A Shares is less than the Reported
Outstanding Share Number, the Company shall notify the Purchaser in writing of the number of Class A Shares then outstanding and, to the
extent that such Request would otherwise cause the Purchaser’s beneficial ownership, as determined pursuant to this Section 1.2,
to exceed the Maximum Percentage, the Purchaser must notify the Company of a reduced number of Class A Shares to be delivered pursuant
to such Request. For any reason at any time, upon the written or oral request of the Purchaser, the Company shall within one (1) business
day confirm orally and in writing or by electronic mail to the Purchaser the number of Class A Shares then outstanding. In any case, the
number of outstanding Class A Shares shall be determined after giving effect to the conversion or exercise of securities of the Company
by the Purchaser and any other Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the
event that the issuance of Class A Shares to the Purchaser upon conversion of the Shares or exercise of the Private Placement Warrants
results in the Purchaser and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage
of the number of outstanding Class A Shares (as determined under Section 13(d) of the Exchange Act), the number of shares so issued by
which the Purchaser’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the
“Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Purchaser shall not have the power
to vote or to transfer the Excess Shares. Upon delivery of a written notice to the Company, the Purchaser may from time to time increase
(with such increase not effective until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage of
the Purchaser to any other percentage not in excess of 9.9% as specified in such notice; provided, however, that any such increase in
the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the Company. For clarity,
the Class A Shares issuable to the Purchaser upon conversion of the Shares or exercise of the Private Placement Warrants in excess of
the Maximum Percentage shall not be deemed to be beneficially owned by the Purchaser for any purpose including for purposes of Section
13(d) or Rule 16a-1(a)(1) of the Exchange Act. For the purposes of this Agreement, “Attribution Parties” shall mean, collectively,
the following persons and entities: (i) any investment vehicle, including, any funds, feeder funds or managed accounts, currently, or
from time to time after the issue date of the Shares, directly or indirectly managed or advised by the Purchaser’s investment manager
or any of its affiliates or principals; (ii) any direct or indirect affiliates of the Purchaser or any of the foregoing; (iii) any Person
acting or who could be deemed to be acting as a “group” (as such term is used Section 13(d) of the Exchange Act and as defined
in Rule 13d-5 thereunder) together with the Purchaser or any of the foregoing; and (iv) any other persons whose beneficial ownership of
the Class A Shares would or could be aggregated with the Purchaser’s and the other Attribution Parties for purposes of Section 13(d)
of the Exchange Act. For clarity, the purpose of the foregoing is to subject collectively the Purchaser and all other Attribution Parties
to the Maximum Percentage.

 

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2. Representations, Warranties
and Agreements.

 

2.1. Purchaser’s Representations,
Warranties and Agreements. To induce the Company to deliver the Securities to the Purchaser, the Purchaser hereby represents and warrants
to the Company and agrees with the Company as follows:

 

2.1.1. No Government Recommendation
or Approval. The Purchaser understands that no federal or state agency has passed upon or made any recommendation or endorsement of the
offering of the Securities.

 

2.1.2. No Conflicts. The execution,
delivery and performance of this Agreement and the consummation by the Purchaser of the transactions contemplated hereby do not violate,
conflict with or constitute a default under (i) the formation and governing documents of the Purchaser, (ii) any agreement, indenture
or instrument to which the Purchaser is a party or (iii) any law, statute, rule or regulation to which the Purchaser is subject, or any
agreement, order, judgment or decree to which the Purchaser is subject, except in the case of clauses (ii) and (iii), that would not reasonably
be expected to prevent the Purchaser from fulfilling its obligations under this Agreement.

 

2.1.3. Organization and Authority.
The Purchaser is validly existing and in good standing under the laws of its jurisdiction of formation and possesses all requisite power
and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by the Purchaser and
the other parties hereto, this Agreement is a legal, valid and binding agreement of the Purchaser, enforceable against the Purchaser in
accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or
similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of
whether enforcement is sought in a proceeding at law or in equity).

 

2.1.4. Experience, Financial
Capability and Suitability, No Reg D Disqualification. The Purchaser is (i) sophisticated in financial matters and is able to evaluate
the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk of its investment in the Securities
for an indefinite period of time because the Securities have not been registered under the Securities Act (as defined below) and therefore
cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. The Purchaser
is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. The
Purchaser must bear the economic risk of this investment until the Securities are sold pursuant to (i) an effective registration statement
under the Securities Act or (ii) an exemption from registration available with respect to such sale. The Purchaser is able to bear the
economic risks of an investment in the Securities and to afford a complete loss of the Purchaser’s investment in the Securities.
The Purchaser is not subject to any “bad actor” disqualification under Rule 506(d) of Regulation D under the Securities Act
of 1933, as amended (the “Securities Act”).

 

2.1.5. Access to Information;
Independent Investigation. Prior to the execution of this Agreement, the Purchaser has had the opportunity to ask questions of and receive
answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business and
prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information so obtained.
In determining whether to make this investment, the Purchaser has relied solely on the Purchaser’s own knowledge and understanding
of the Company and its business based upon the Purchaser’s own due diligence investigation and the information furnished pursuant
to this paragraph or as described in this paragraph. The Purchaser understands that no person has been authorized to give any information
or to make any representations which were not furnished pursuant to or as described in this Section 2 and the Purchaser has not relied
on any other representations or information in making its investment decision, whether written or oral, relating to the Company, its operations
and/or its prospects.

 

2.1.6. Accredited Investor.
The Purchaser represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under
the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption under the
Securities Act only to persons who are to “accredited investors” within the meaning of Section 501(a) of Regulation D under
the Securities Act or similar exemptions under state law.

 

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2.1.7. Investment Purposes.
The Purchaser is purchasing the Securities solely for investment purposes, for the Purchaser’s own account and not for the account
or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Purchaser did not decide to
enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 under the Securities
Act.

 

2.1.8. Restrictions on Transfer;
Shell Company. The Purchaser understands the Securities are being offered in a transaction not involving a public offering within the
meaning of the Securities Act. The Purchaser understands the Securities will be “restricted securities” within the meaning
of Rule 144(a)(3) under the Securities Act, and the Purchaser understands that the certificates or book-entries representing the Securities
will contain a legend in respect of such restrictions. If in the future the Purchaser decides to offer, resell, pledge or otherwise transfer
the Securities, the Securities may be offered, resold, pledged or otherwise transferred only pursuant to (i) registration under the Securities
Act or (ii) an available exemption from registration. The Purchaser agrees that if any transfer of the Securities or any interest therein
is proposed to be made, as a condition precedent to any such transfer, the Purchaser may be required to deliver to the Company customary
representations reasonably satisfactory to the Company. Absent registration or another available exemption from registration, the Purchaser
agrees not to resell the Securities. The Purchaser further acknowledges that because the Company is a shell company, Rule 144 may not
be available to the Purchaser for the resale of the Securities until one year has elapsed from the time that the Company has filed current
Form 10-type information with the SEC reflecting its status as an entity that is not a shell company, despite technical compliance with
the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9. No Consents. No governmental,
administrative or other third party consents or approvals are required, necessary or appropriate on the part of the Purchaser in connection
with the transactions contemplated by this Agreement.

 

2.1.10 Sanctions. The Purchaser
is not, and is not owned or controlled by or acting on behalf of a Sanctioned Person (as defined below). The Purchaser is not a non-U.S.
shell bank or providing banking services to a non-U.S. shell bank. The Purchaser represents that if it is a financial institution subject
to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 and its implementing regulations (collectively,
the “BSA/PATRIOT Act”), that the Purchaser maintains, either directly or through the use of a third-party administrator, policies
and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. The Purchaser also represents that
it maintains, either directly or through the use of a third-party administrator, policies and procedures reasonably designed for the screening
of any investors against Sanctions-related lists of blocked or restricted persons. The Purchaser further represents and warrants that,
to its best knowledge, the funds held by the Purchaser and used to purchase the Securities are derived from lawful activities. For purposes
of this Agreement, “Sanctioned Person” means at any time any person or entity: (a) listed on any Sanctions-related list of
designated or blocked or restricted persons; (b) that is a national of, the government of, or any agency or instrumentality of the government
of, or resident in, or organized under the laws of, a country or territory that is the target of comprehensive Sanctions from time to
time (as of the date of this Agreement, Cuba, Iran, North Korea, Syria, and the Crimea region); or (c) owned or controlled by or acting
on behalf of any of the foregoing. “Sanctions” means those trade, economic and financial sanctions laws, regulations, embargoes,
and restrictive measures (in each case having the force of law) administered, enacted or enforced from time to time by (a) the United
States (including without limitation the U.S. Department of the Treasury, Office of Foreign Assets Control, the U.S. Department of State,
and the U.S. Department of Commerce), (b) the European Union and enforced by its member states, (c) the United Nations, (d) Her Majesty’s
Treasury and (e) the Cayman Islands.

 

2.1.11 CFIUS. No foreign person
(as defined in 31 C.F.R. Part 800.224) in which the national or subnational governments of a single foreign state have a substantial interest
(as defined in 31 C.F.R. Part 800.244) will acquire a substantial interest in the Company as a result of the purchase and sale of Securities
hereunder such that a declaration to the Committee on Foreign Investment in the United States would be mandatory under 31 C.F.R. Part
800.401, and no foreign person will have control (as defined in 31 C.F.R. Part 800.208) over the Company as a result of the purchase and
sale of the Securities hereunder.

 

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2.1.12 ERISA. If the Purchaser
is an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
a plan, an individual retirement account or other arrangement that is subject to section 4975 of the Internal Revenue Code of 1986, as
amended (the “Code”) or an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church
plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject
to the foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are
similar to such provisions of ERISA or the Code, or an entity whose underlying assets are considered to include “plan assets”
of any such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited Transactions provisions of
ERISA or section 4975 of the Code, then the Purchaser represents and warrants that (i) neither the Company, nor any of its respective
affiliates (the “Transactions Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice, with respect
to its decision to acquire and hold the Securities, and none of the Transactions Parties shall at any time be relied upon as the Plan’s
fiduciary with respect to any decision to acquire, continue to hold or transfer the Securities and (ii) none of the acquisition, holding
and/or transfer or disposition of the Securities will result in a non-exempt prohibited Transactions under ERISA or Section 4975 of the
Code or any similar law or regulation.

 

2.2. Company’s Representations,
Warranties and Agreements. To induce the Purchaser to purchase the Securities, the Company hereby represents and warrants to the Purchaser
and agrees with the Purchaser as follows:

 

2.2.1. Organization and Corporate
Power. The Company is a Cayman Islands exempted company and is qualified to do business in every jurisdiction in which the failure to
so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the
Company. The Company possesses all requisite corporate power and authority necessary to enter into this Agreement and to carry out the
transactions contemplated by this Agreement. Upon execution and delivery by the Company and the other parties hereto, this Agreement is
a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’
rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in
equity).

 

2.2.2. No Conflicts. The execution,
delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not violate,
conflict with or constitute a default under (i) the certificate of incorporation or bylaws of the Company, (ii) any agreement, indenture
or instrument to which the Company is a party or by which the Securities are bound or (iii) any law, statute, rule or regulation to which
the Company is or the Securities are subject, or any agreement, order, judgment or decree to which the Company is or the Securities are
subject.

 

2.2.3. No Adverse Actions. There
are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company or the Securities which: (i)
seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question
the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection with any transactions.

 

2.2.4. No Consents. No governmental,
administrative or other third party consents or approvals are required, necessary or appropriate on the part of the Company in connection
with the transactions contemplated by this Agreement.

 

2.2.5. More Favorable Price.
Substantially concurrently with the execution of this Agreement, the Company is entering into separate agreements with other “anchor
investors” in respect of the purchase of Securities and the IPO. The Company represents that the price at which such other “anchor
investors” are purchasing Securities is no more favorable than the price at which the Purchaser is purchasing Securities. In the
event that another “anchor investor” is afforded a more favorable price than the Purchaser, the Company shall immediately
so inform the Purchaser of such more favorable price, and the Purchaser shall have the right to elect to have such more favorable price,
in which case the parties hereto shall promptly amend this Agreement to effect the same. Notwithstanding the foregoing, this provision
does not apply to any investor whose investment is subject to any vesting condition.

 

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2.2.6 Non-Public Information.
The Company represents and warrants that none of the information conveyed to the Purchaser in connection with the transactions contemplated
by this Agreement will constitute material non-public information of the Company upon the effectiveness of the Registration Statement
on Form S-1 to be filed by the Company in connection with its IPO (the “Registration Statement”).

 

2.2.7 Validity of the Securities.
Upon delivery in accordance with, and payment pursuant to, the terms hereof, the Securities will be duly and validly issued, fully paid
and non-assessable.

 

2.2.8 Title to the Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Purchaser will have or receive good title to the Securities,
free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions hereunder and other agreements
to which the Securities may be subject which have been notified to the Purchaser in writing, (b) transfer restrictions under federal and
state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

3. Forfeiture of Securities.

 

3.1. In the event the Purchaser
purchases less than the IPO Purchase Amount solely due to the fact that the number of the Units sold in the IPO is reduced and/or the
underwriter[s] of the IPO allocate[s] less Units to the Purchaser than the Purchaser IPO Purchase Amount (the “Alternate IPO Purchase
Amount”), then, if the Purchaser purchases the Alternate IPO Purchase Amount, the Purchaser shall still be entitled to retain the
full allocation of Securities as set forth on the signature page hereto. If the Purchaser fails to purchase its allocation of Units, which
at no point shall in the aggregate, when taken together with Units purchased by any Attribution Party of the Purchaser, be higher than
9.9% of the Units sold in the IPO (for the avoidance of doubt, without regard for any Units sold as part of the exercise of the over-allotment
option), it shall not be entitled to retain the Securities and any Securities previously delivered shall be returned and forfeited. For
the avoidance of doubt, the Purchaser will not be required to participate in the overallotment option nor any upsizing of the IPO without
first having the opportunity to acquire additional Securities in a manner proportional to any increase in the IPO Purchase Amount at the
same price per Securities as detailed in the signature page attached hereto. Notwithstanding the foregoing, the Purchaser acknowledges
that the Company and its sponsor may deem it necessary in order to facilitate a business combination for the Company or the sponsor to
forfeit, transfer, exchange or amend the terms, or cause the forfeiture, transfer, exchange or amendment of the terms, of all or any portion
of the Class B Shares or to enter into any other arrangements with respect to the Class B Shares to facilitate the consummation of such
business combination, including voting in favor of any amendment to the terms of the Class B Shares (a “Change in Investment”).
The Company acknowledges and agrees that any such Change in Investment shall not apply to the Securities.

 

3.2. Termination of Rights as
Stockholder. If any of the Securities are forfeited in accordance with this Section 3, then after such time the Purchaser (or successor
in interest), shall no longer have any rights as a holder of such forfeited Securities. For the avoidance of doubt, the Securities directly
or indirectly owned by the Purchaser shall not be subject to forfeitures (except as described in Section 3.1 above), surrenders, reductions,
mandatory repurchases, redemptions, modifications, cut-backs, claw-backs, transfers, disposals, exchanges or share price vesting triggers
commonly known as “earn-outs” for any reason, including as part of negotiating an initial business combination.

 

3.3. Adjustments. In the event
of any adjustment in the number of Securities is required pursuant to this Section 3, the book-entry records for such Securities shall
be reduced accordingly. If the Securities are required to be issued in certificated form (such certificates hereinafter referred to as
the “Original Certificates”) an adjustment to the Original Certificates, if any, is required pursuant to this Section 3, then
the Purchaser shall return such Original Certificates to the Company or its designated agent as soon as practicable upon its receipt of
notice from the Company advising the Purchaser of such adjustment, following which a new certificate (the “New Certificate”),
if any, shall be issued in such amount representing the adjusted number of the Securities held by the Purchaser. The New Certificate,
if any, shall be returned to the Purchaser as soon as practicable. Any such adjustment for any uncertificated shares held by the Purchaser
shall be made in book-entry form.

 

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4. Waiver of Liquidation Distributions;
Redemption Rights. In connection with the Securities purchased pursuant to this Agreement, the Purchaser hereby waives any and all right,
title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the
benefit of the Company’s public stockholders and into which substantially all of the proceeds of the IPO will be deposited (the
“Trust Account”) in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial
business combination. Further, in no event will the Purchaser have the right to redeem any Securities into funds held in the Trust Account
in connection with an initial business combination. For clarity, the Purchaser is not waiving any redemption right or claim to funds held
in the trust account for Class A Shares or Units purchased in the IPO or aftermarket (including the IPO Purchase Amount). In the event
the Purchaser purchases Class A Shares or Units in the IPO or in the aftermarket (including the IPO Purchase Amount), any Class A Shares
or Units so purchased shall be eligible to receive any liquidating distributions by the Company and will have the right to redeem or tender
any such Class A Shares into funds held in the Trust Account upon the successful completion of an initial business combination, or any
other event that affords public stockholders the right to redeem, and any such redemption shall not result in the forfeiture of any of
the Securities.

 

5. Restrictions on Transfer.

 

5.1. Securities Law Restrictions.
The Purchaser agrees not to sell, transfer, pledge (other than pledges in the ordinary course of business as part of a prime brokerage
arrangement; provided, however, that such pledge does not violate the Securities Act and is otherwise in compliance with the Lock-up (as
defined below)), hypothecate or otherwise dispose of all or any part of the Securities unless, prior thereto (a) a registration statement
on the appropriate form under the Securities Act with respect to the Securities proposed to be transferred shall then be effective or
(b) the Company has provided prior written consent and has received customary representations reasonably satisfactory to the Company,
that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated
by the SEC thereunder and from all applicable state securities laws. Notwithstanding the foregoing, the Purchaser may, upon written notice
to the Company and in compliance with securities laws, transfer Securities to an affiliate of the Purchaser who agrees in writing to be
bound by the terms of this Agreement.

 

5.2. Lock-Up. The Purchaser
acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained in Sections 5(a), 5(b) and
5(c) of the Insider Letter filed as an exhibit to the Registration Statement, a copy of which has been provided to the Purchaser. For
the avoidance of doubt, the Purchaser shall not be required to become a party to, and shall not be subject to any other provision of,
the Insider Letter except as set forth in this Section 5.2.

 

5.3. Restrictive Legends. Any
certificates representing the Securities shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL,
IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF
THE LOCKUP.”

 

5.4. Additional Securities or
Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary dividend payable in a
form other than Securities, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar transaction
affecting the Company’s outstanding Securities without receipt of consideration, any new, substituted or additional securities or
other property which are by reason of such transaction distributed with respect to any Securities subject to this Section 5 or into which
such Securities thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate adjustments to reflect
the distribution of such securities or property shall be made to the number and/or class of Securities subject to this Section 5 and Section
3.

 

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5.5. Registration Rights. The
Purchaser acknowledges that the Securities are being purchased pursuant to an exemption from the registration requirements of the Securities
Act and will become freely tradable only after certain conditions are met or they are registered pursuant to a registration rights agreement
to be entered into with the Company prior to the closing of the IPO, which registration rights shall be made available by the Company
to the Purchaser on terms no less favorable than those afforded to any other pre-IPO investor in the Company.

 

6. Other Agreements.

 

6.1. Further Assurances. The
parties agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent
of this Agreement.

 

6.2. Notices. All notices, statements
or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent by first
class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing,
(ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing
by such party and (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic
mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been
given on the day of delivery, if delivered personally or if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail.

 

6.3. Entire Agreement. This
Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the form to be filed as an exhibit
to the Registration Statement, embodies the entire agreement and understanding between the Purchaser and the Company with respect to the
subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used
to interpret, change or restrict, the express terms and provisions of this Agreement.

 

6.4. Modifications and Amendments.
The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

 

6.5. Waivers and Consents. The
terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed
by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute
a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent
shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver
or consent.

 

6.6. Assignment. The rights
and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other party.

 

6.7. Benefit. All statements,
representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the
benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create
any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of this
Agreement.

 

6.8. Governing Law. This Agreement
and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of New York applicable
to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof.

 

    8

     

    

 

6.9. Severability. In the event
that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement shall
be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable
and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such provision,
or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and effect.

 

6.10. No Waiver of Rights, Powers
and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing
between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise
of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such
right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power
or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other
available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such
notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

6.11. Survival of Representations
and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other agreement, certificate
or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations made by or on
behalf of the parties.

 

6.12. No Broker or Finder. Each
of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant has acted on its behalf
in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability on the other. Each
of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission or other compensation by
any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such party and to bear the
cost of legal expenses incurred in defending against any such claim.

 

6.13. Headings and Captions.
The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify
or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts. This Agreement
may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties
need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or any other form of electronic
delivery, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such signature page were an original thereof.

 

    9

     

    

 

6.15. Construction. The parties
hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise
favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine,
feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include
the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
“hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will
have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect,
the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative
levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in
breach of the first representation, warranty, or covenant.

 

7. Voting and Tender of Securities.
The Purchaser agrees with the Company to vote the Securities and any Class A Shares purchased by the Purchaser in the IPO or in the aftermarket
(including the IPO Purchase Amount) in favor of an initial business combination that the Company negotiates and submits for approval to
the Company’s stockholders. Additionally, the Purchaser agrees with the Company not to tender any Securities in connection with
a tender offer presented to the Company’s stockholders in connection with an initial business combination negotiated by the Company.
For clarity, in the event the Purchaser purchases Class A Shares in the IPO or in the aftermarket (including the IPO Purchase Amount),
the Purchaser retains the right to tender any such Class A Shares so purchased in connection with a tender offer. In addition, there shall
be no limitation on the Purchaser’s right to (i) redeem or tender any such Class A Shares into funds held in the Trust Account upon
the successful completion of an initial business combination, or any other event that affords public stockholders the right to redeem
or (ii) otherwise sell, assign or transfer of any securities of the Company (other than the Securities) prior to the closing of the initial
business combination.

 

8. Indemnification. Each party
shall indemnify the other against any loss, cost or damages (including reasonable and documented out-of-pocket attorney’s fees and
expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

9. No Publicity. The Company
agrees that it will not, without the prior written consent of the Purchaser, publicly disclose the name of the Purchaser or any of its
affiliates or investment advisors, other than as required by applicable law, rule or regulation (including, but not limited to, as required
in the Company’s Registration Statement on Form S-1 requirements or in response to a comment from the SEC’s staff), in which
case the Company shall provide the Purchaser with one (1) business day’s prior written notice of such disclosure.

 

10. Termination. In the event
the IPO is not consummated by November 17, 2021, the Company shall promptly refund the purchase price for the Securities to the Purchaser
in accordance with the instructions provided by the Purchaser and the Securities shall not be delivered to the Purchaser.

 

[Signature Page Follows]

 

    10

     

    

 

If the foregoing accurately sets forth our understanding
and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	Very truly yours,	 
	 	 
	TRINE II ACQUISITION CORP.	 
	 	 	 	 
	By:	 	 
	 	Name:	Pierre M. Henry	 
	 	Title:	Chief Executive Officer	 

 

Purchaser: ____________________________

 

Address: ____________________________

 

E-mail: ____________________________

 

Phone: _______________________________

 

Attention: ____________________________

 

Number of Class B Shares Purchased: 

 

Number of Private Purchase Warrants Purchased:

 

Aggregate Purchase Price: 

 

IPO Units: 

 

	By:	 	 
	 	Name:	                                                          	 
	 	Title:	 	 

 

[Trine II Acquisition Corp.—Signature
Page to Securities Purchase Agreement]wltw-ex104_93.htm

 

Exhibit 10.4

 

 

 

 

 

PRIVATE AND CONFIDENTIAL

August 26, 2021 Mr. Andrew Krasner

 

 

Dear Andrew:

 

On behalf of Willis Towers Watson US LLC, a Willis Towers Watson Company (hereinafter "Willis Towers Watson"), we are very pleased to formally offer you the position of Chief Financial Officer of Willis Towers Watson, start date to be confirmed as soon as practicable.

 

We are impressed with your skills and attributes and knowledge of the Company given your prior history of working for us for twelve years and are confident you will enhance Willis Towers Watson’s position as a leading risk, advisory and broking company. As you are well aware, we are known for improving our clients’ results through our unique combination of technical excellence and innovation and believe you will be a strong addition in that endeavor. In working here, you will have the opportunity to grow as well as partner with talented colleagues in solving issues for some of the world’s largest and most complex organizations. This letter serves to document some of the finer points of the terms of our offer as well.

 

In this position, you will be reporting to the CEO of Willis Towers Watson. As you know, we operate a virtual headquarters so we expect that you will be spending time in our major locations on a regular basis. For administrative purposes, you will be assigned to the Miami, FL office.

 

 

COMPENSATION

 

Your initial base salary will be $800,000.00 per annum, earned at the semi-monthly rate of $33,333.33, less applicable statutory deductions. Employees are paid on the 15th and last day of each month via payroll direct deposit.

 

You will participate in the Willis Towers Watson Discretionary Individual Bonus Program. The bonus year runs from January 1 to December 31, and bonuses are payable annually, usually in March. Your target bonus is 125% of your base salary, and any bonus awarded will be based on individual performance and reflect the performance of the Finance function and the overall Company as well. Bonus payments may be prorated, for example, in line with base salary changes, part year periods of service or extended periods of absence, in accordance with applicable law. For the year ending December 31, 2021, your bonus will be no less than the target bonus pro-rated for the days in 2021 in which you are employed by Willis Towers Watson (the “Minimum Bonus”). A current condition of eligibility to receive a bonus payment is that you are still in the Company’s service on the date of payment and not working out any period of notice, whether given or received, except as set forth herein with respect to the bonus for 2021. Any bonus for periods after 2021 payable under this program is discretionary. The Company reserves the right to amend or terminate any and all bonus provisions at its sole discretion at any time with or without notice or replacement.

 

As an Operating Committee member, beginning in 2022, you will participate in our Long Term Incentive (LTI) program. Your annual LTI target amount will be 200% of base salary. Willis Towers Watson will pay you a signing bonus totaling an aggregate payment equivalent to $50,000 per month (including a prorated amount for partial months up to the start date) for the period in 2021 that you were not employed by Willis Towers Watson, less appropriate payroll deductions (the “Signing Bonus”). This will be paid within 31 

 
 

 

days of employment. If you voluntarily leave Willis Towers Watson other than for Good Reason or if you are terminated for Cause within twelve (12) months of a signing bonus payment (as such terms are defined in the Willis Towers Watson Severance and Change in Control Pay Plan for US Executives in effect on the date hereof (the “Executive Severance Plan”), you will be required to repay Willis Towers Watson in full for that payment immediately upon your termination. In the event that you are required to repay the signing bonus to Willis Towers Watson under the terms of this paragraph, you authorize Willis Towers Watson (by signing this letter) to withhold any such amount from any amounts due to you at the time of your termination and apply such after-tax amounts against the outstanding repayment obligation you owe to Willis Towers Watson. Your authorization expressly includes, but is not limited to, allowing Willis Towers Watson to withhold any amounts you owe from any compensation (including but not limited to wages), accrued paid time off, expense reimbursement, or any other amounts due to you from Willis Towers Watson. The Company may in its absolute discretion elect not to pay any sign-on bonus payment or to reduce the sign-on bonus payment if you have committed any act of misconduct and/or any material breach of the terms of the Willis Towers Watson Code of Conduct and/or are subject to any performance management process in any such case during any period prior to the sign-on bonus payment date.

 

You will also receive a grant of time-based restricted stock units (RSUs) with a grant date fair value of

$3,000,000 pursuant to the terms of the Willis Towers Watson 2005 Equity Incentive Plan, with the grant date of such RSUs being the date of commencement of your employment with Willis Towers Watson.

The RSUs will vest ratably over a three year period as of the first, second and third anniversary, respectively, of the grant date, subject to your continued employment with Willis Towers Watson as of each vesting date except that in the event of a Qualifying Termination (as defined in the Executive Severance Plan and whether or not a Change in Control (as defined in the Executive Severance Plan) has occurred) prior to the end of the three-year period, Willis Towers Watson will either (i) accelerate the vesting of any outstanding unvested units at the time of your termination, subject to the approval of the Compensation Committee of the Willis Towers Watson Board of Directors; or, in the absence of such approval, will (ii) pay you the cash value of the unvested outstanding awards as calculated based on the share price on your date of termination. The shares or payment will be delivered to you as soon as possible thereafter but no later than 30 days (subject to Section 409A of the Internal Revenue Code). A separate grant letter with the above and other relevant terms and conditions will be provided to you under separate cover following your commencement of employment.

 

 

SEVERANCE

 

You will be eligible to participate in the Executive Severance Plan, subject to its terms and conditions, except as set forth herein as may be amended from time to time. In the event that your employment relationship is involuntarily terminated for any reason other than Cause (as defined in the Executive Severance Plan) or you resign with Good Reason (as defined in the Executive Severance Plan), you will be entitled to severance as follows:

 

	
 
	
•
	
An amount equal to 12 months of base salary + target bonus for year of termination (generally payable in 12 monthly installments).
	
 

 

	
 
	
•
	
Full COBRA subsidy for up to 18 months.

 

In the event of a Change in Control, you shall be eligible for the additional benefits specified in the Executive Severance Plan.

 

In addition, in the event of a Qualifying Termination prior to full vesting of the RSUs granted at the inception of your employment, Willis Towers Watson will either (i) accelerate the vesting of any outstanding unvested units specifically with respect only to the RSUs granted to you upon your hire at the time of your termination, subject to the approval of the Compensation Committee of the Willis Towers Watson Board of Directors; or, in the absence of such approval, will (ii) pay you the cash value of the unvested outstanding awards. In the event of a Qualifying Termination prior to payment of either the Signing Bonus or the Minimum Bonus, such unpaid bonuses will be paid to you within 60 days of the date of termination.

 
 

 

 

If you ever become eligible to receive any severance payments described in this provision, you agree that such severance payments are contingent upon your execution of a Severance Agreement and Release in a form reasonably acceptable to the Company. Your acceptance of these severance payments shall constitute your knowing and voluntary waiver of any right or claim to receive severance benefits from Willis Towers Watson (or any of its affiliates) under any severance benefit plan that Willis Towers Watson (or any of its affiliates) may maintain at the time of your employment termination.

 

You will not be eligible to receive any of the severance benefits described in this provision if you terminate your employment voluntarily without Good Reason or if you are terminated by the Company with Cause as defined in the Executive Severance Plan.

 

Copies of the current version of the Executive Severance Plan plan document and term sheet are attached for your reference.

 

 

BENEFITS

 

A summary of Willis Towers Watson's current benefit package for full-time employees is available on the Onboarding Portal. All benefits are subject to the terms of the applicable policies and plan documents, which may change from time to time. If your break in service with Willis Towers Watson is less than one year, your prior service will count under the terms of certain benefit plans, including Willis Towers Watson’s Paid Time Off plan and retirement plans.

 

Per the Willis Towers Watson Pension Plan for US Employees, if you terminate employment with Willis Towers Watson on or after July 1, 2017 while you were a participant in the non-contributory portion of the Plan, and you are re-employed as an Eligible Contributory Colleague on or after July 1, 2017, you will become an Active Contributory Participant on the first day of the month coincident with or next following your date of reemployment unless you elect not to participate in the Plan. If you terminate employment with the Company after becoming an Active Contributory Participant, you will again become an Active Contributory Participant as of the first day of the payroll period that is as soon as administratively feasible after the date you again become an Eligible Contributory Colleague unless you elect not to participate in the Plan. Further, because you terminated employment with the Company and you will be re-employed within one year of the date of your termination, the months that you were not employed by the Company will still count towards completion of the one year of Eligibility Service requirement. Full details are provided in the attached Summary Plan Description.

 

 

LEGAL OBLIGATIONS TO PRIOR EMPLOYERS AND OTHER THIRD PARTIES

 

Willis Towers Watson requires its employees to honor their legal obligations to their prior employers (just as we expect you will honor your ongoing legal obligations to Willis Towers Watson should you leave our employ). Therefore, as a condition of your employment by Willis Towers Watson, you must not bring with you from your current or former employer(s) any confidential or proprietary business information or copies of such information; and you may not reveal to Willis Towers Watson or any of our employees or use on behalf of Willis Towers Watson any confidential or proprietary information belonging to any prior employer or other third party, unless you have been expressly authorized by the owner of such information to do so in writing.

 

Further, if you have any written agreement with an existing or former employer that contains contractual restrictions that may continue to apply to you at any time during your employment with Willis Towers Watson, you must provide us with a copy of any such agreement immediately. By accepting this offer, you certify that you have disclosed to Willis Towers Watson all contractual or other restrictions that may affect your ability to fully perform the duties and responsibilities of your position in the location for which you are being hired, and that, to the best of your knowledge, you have provided to Willis Towers Watson copies of all written contracts, correspondence or other documents that materially relate to any such restrictions.

 
 

 

 

 

ADDITIONAL TERMS

 

This offer and your employment with us are contingent upon the following conditions and terms:

 

	
 
	
•
	
Submission and review of documents that verify your eligibility for employment in the United States on your scheduled start date. U.S. immigration laws require all U.S. employers to verify that all new employees are eligible to work in the United States. This law applies to both U.S. citizens and non-citizens. You must present acceptable original work authorization documentation necessary to complete an I-9 form, which establishes proof of your eligibility to work in the United States, within three business days of commencing employment. If you are unable to provide the required documentation within that time period, your offer will be withdrawn and/or your employment will be terminated. A list of acceptable documents is provided with this offer letter. Please be aware that Willis Towers Watson also participates in the E-Verify employment eligibility verification system.
	
 

	
 
	
•
	
The truthfulness of the representations you have made to Willis Towers Watson during the interview process and completion and outcome of standard education, employment, credential and criminal checks.
	
 

	
 
	
•
	
Your acknowledgement, by accepting this offer, that you have reviewed the enclosed Willis Towers Watson Code of Conduct that applies to all of your work at Willis Towers Watson, and that you will comply with it.
	
 

	
 
	
•
	
Your acknowledgement, by accepting this offer, that you have reviewed and accepted the Willis Towers Watson Confidentiality and Non-Solicitation Agreement.
	
 

	
 
	
•
	
Your agreement that information about your various benefits and entitlements shall be provided to you electronically, and not by hard copy.
	
 

	
 
	
•
	
Your agreement that you will abide by all policies, practices and procedures of Willis Towers Watson, which are subject to change at any time in the sole discretion of Willis Towers Watson.
	
 

 

Your employment is "at will" and you may terminate your employment at any time by notifying Willis Towers Watson. Likewise, Willis Towers Watson may terminate your employment at any time and for any reason, with or without cause or advance notice, subject to the consequences set forth herein.

 

 

SECTION 409A COMPLIANCE

 

It is intended that the payments set forth herein are intended to be exempt from or in compliance with Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder and shall be administered and interpreted consistent with such intent. To the extent that any provision of this is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A, and to the extent required, be subject to any applicable six (6) month delay for “specified employees” if required in order to avoid the imposition of any excise tax under Section 409A. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

 
 

 

 

CLOSING

 

Andrew, we are delighted that you will be joining the leadership team of Willis Towers Watson as our Chief Financial Officer. I look forward to working closely with you on driving our company’s success.

 

Sincerely yours,

John J. Haley

Chief Executive Officer AGREED AND ACCEPTED:

Andrew Krasner

 

 

Date

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