Document:

Exhibit 4.2

 

FORM OF RIGHTS AGREEMENT

 

This Rights Agreement (this
 "Agreement") is made as of February 15, 2022, by and between AXIOS Sustainable Growth Acquisition Corporation,
a Cayman Islands exempted company (the "Company"), and Continental Stock Transfer and Trust Company, a New York
Limited Purpose Trust Company (the "Rights Agent").

 

WHEREAS, the Company is engaged
in an initial public offering (the "Offering") of 15,000,000 of units of the Company’s equity securities
(or 17,250,000 units if the underwriter’s over-allotment option is exercised in full) (the "Units"), each
Unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, an "Ordinary Share"),
one right (each, a "Right") and one redeemable warrant (each, a "Warrant"). Each Right
entitles the holder to receive one-tenth (1/10) of an Ordinary Share upon consummation of an initial business combination. Each Warrant
entitles the holder to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment.

 

WHEREAS, the Company has filed
with the Securities and Exchange Commission (the "Commission") a Registration Statement on Form S-1, File
No. 333-262352 (the "Registration Statement"), and related Prospectus (the "Prospectus")
for the registration, under the Securities Act of 1933, as amended (the "Act"), of, among other securities, the
Rights and the Ordinary Shares issuable to the holders of the Rights;

 

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

 

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

 

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

 

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

 

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

 

     

     

    

 

2.              Rights.

 

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

 

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

 

2.3            Registration.

 

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

 

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

 

2.4            Detachability
of Rights. Each of the securities comprising the Units shall begin separate trading on the fifty-second (52nd) day following the date
of the Prospectus or, if such fifty-second (52nd) day is not on a day other than a Saturday, Sunday or federal holiday on which banks
in New York City are generally open for normal business (a "Business Day"), then on the immediately succeeding
Business Day following such date, or with the consent of I-Bankers Securities, Inc., on an earlier date (the "Detachment
Date"), but in no event shall the securities comprising the Units be separately traded until (A) the Company has filed
a Current Report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the
gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the underwriters of their right to
purchase additional Units in the Offering (the "Over-Allotment Option"), if the Over-Allotment Option is exercised
prior to the filing of such Form 8-K, and (B) if the Detachment Date is earlier than the 52nd day following the date of the
Prospectus, the Company issues a press release announcing when such separate trading shall begin.

 

    2

     

    

 

3.              Terms
and Exchange of Rights.

 

3.1            Rights.
Each Right shall entitle the holder thereof to receive one-twentieth of one Ordinary Share upon the happening of an Exchange Event (defined
below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares upon an Exchange
Event as the purchase price for such Ordinary Shares has been included in the purchase price for the Units. In no event will the Company
be required to net cash settle the Rights or issue fractional Ordinary Shares.

 

3.2            Exchange
Event. An "Exchange Event" shall occur upon the Company's consummation of an initial Business Combination
(as defined in the Company's Amended and Restated Memorandum and Articles of Association).

 

3.3            Exchange
of Rights.

 

3.3.1            Issuance
of Ordinary Shares. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights
to return their Rights certificates to the Rights Agent. Upon receipt of a valid Rights certificate, the Company shall issue to the Registered
Holder of such Right(s) the number of full Ordinary Shares to which he, she or it is entitled, registered in such name or names as
may be directed by him, her or it and issue to such Registered Holder(s) a certificate or book-entry position for the such shares.
Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will the Company be required
to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights. In the event that any holder would
otherwise be entitled to any fractional share upon exchange of Rights, at the time of an Exchange Event, the Company will instruct the
Rights Agent will instruct the Rights Agent to round down to the nearest whole Ordinary Share or otherwise inform it how fractional shares
will be addressed in accordance with Companies Act (As Revised) of the Cayman Islands as the same may be amended from time to time. Any
rounding down and extinguishment may be done with or without any in lieu cash payment or other compensation being made to the holder of
the relevant Rights, such that value received on exchange of the Rights may be considered less than the value that the holder would otherwise
expect to received.

 

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

 

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

 

3.3.4            Company
Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting
entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration the holders of the
Ordinary Shares will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1
above. If the Company does not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right will be required
to affirmatively convert his/her or its rights in order to receive the one-twentieth of one share underlying each right (without paying
any additional consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will be required to indicate
his, her or its election to convert the Rights into underlying Ordinary Shares as well as to return the original certificates evidencing
the Rights to the Company.

 

    3

     

    

 

3.4            Duration
of Rights. If an Exchange Event does not occur within the time period set forth in the Company's Amended and Restated Memorandum and
Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4.              Transfer
and Exchange of Rights.

 

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

 

4.2            Procedure
for Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer,
and thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the Registered Holder of the Rights
so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer
bears a restrictive legend and the new Rights to be issued will not bear a restrictive legend, the Rights Agent shall not cancel such
Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion of counsel for the Company stating that
such transfer may be made and indicating no restrictive legend is required.

 

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

 

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

 

4.5            Adjustments
to Conversion Ratios. The number of Ordinary Shares that the holders of Rights are entitled to receive as a result of the occurrence
of an Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split, share dividend,
reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to the Ordinary
Shares occurring on or after the date hereof and prior to the Exchange Event.

 

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

 

    4

     

    

 

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

 

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

 

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

 

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

 

6.              Concerning
the Rights Agent and Other Matters.

 

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

 

6.2            Resignation,
Consolidation, or Merger of Rights Agent.

 

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

 

    5

     

    

 

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

 

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

 

6.3            Fees
and Expenses of Rights Agent.

 

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

 

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

 

6.4            Liability
of Rights Agent.

 

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

 

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

 

    6

     

    

 

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

 

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

 

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

 

7.              Miscellaneous
Provisions.

 

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

 

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

 

AXIOS Sustainable Growth Acquisition
Corporation

Hidden Pines Farm, 14090, Hopewell Road

Alpharetta, Georgia 30004

Attention: Suprotik Das

Email: suprotik.das@axios.ag

 

with a copy to (which shall not constitute
notice):

 

Skadden, Arps, Slate, Meagher &
Flom LLP

One Manhattan West

New York, New York 10001

Attention: Michael J. Schwartz, Esq. and Kevin T. Hardy, Esq.

Email: michael.schwartz@skadden.com

Email: kevin.hardy@skadden.com

 

    7

     

    

 

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

 

Continental Stock Transfer &
Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Steve Nelson

 

7.3            Applicable
Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all
respects by the laws of the State of New York, without giving effect to conflict of laws. Subject to applicable law, the Company and the
Rights Agent hereby agree that any action, proceeding or claim against either of them 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 forum for any such action, proceeding or
claim. The Company and the Rights Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty
created by the Securities Exchange Act of 1934, as amended (the "Exchange Act"), any other claim for which the
federal district courts of the United States of America are the sole and exclusive forum, or any complaint asserting a cause of action
arising under the Act against us or any of our directors, officers, other employees or agents. Section 27 of the Exchange Act creates
exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and
regulations thereunder.

 

Any person or entity purchasing
or otherwise acquiring any interest in the Rights shall be deemed to have notice of and to have consented to the forum provisions in this
Section 7.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court
other than a court located within the State of New York or the United States District Court for the Southern District of New York (a "foreign
action") in the name of any Rights holder, such Rights holder shall be deemed to have consented to: (x) the personal jurisdiction
of the state and federal courts located within the State of New York or the United States District Court for the Southern District of
New York in connection with any action brought in any such court to enforce the forum provisions (an "enforcement action"),
and (y) having service of process made upon such Rights holder in any such enforcement action by service upon such Rights holder's
counsel in the foreign action as agent for such Rights holder.

 

7.4            Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
Registered Holders of the Rights and 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 Rights.

 

    8

     

    

 

7.5            Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the
Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Right. The Rights Agent may require any
such holder to submit his, her or its Right for inspection by it.

 

7.6            Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

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

 

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

 

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

 

[Signature Page Follows]

 

    9

     

    

 

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

 

 

	 	AXIOS SUSTAINABLE GROWTH ACQUISITION CORPORATION
	 	 	 
	 	 	 
	 	By: 	/s/ Benedikt E. Förtig
	 	 	Name:	Benedikt E. Förtig
	 	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Rights Agent
	 	 	 
	 	 	 
	 	By: 	/s/ Douglas Reed
	 	 	Name:	Douglas Reed
	 	 	Title:	Vice President of Account Administration

 

[Signature Page to Rights Agreement]

 

     

     

    

 

EXHIBIT A

 

Form of Right

 

	NUMBER	RIGHTS

 

AXIOS SUSTAINABLE GROWTH ACQUISITION CORPORATION

 

INCORPORATED UNDER THE LAWS OF CAYMAN ISLANDS

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP G0703K 124

 

THIS CERTIFIES THAT, for value received,                                                           

 

is the registered holder of a right or rights
(each, a "Right") to automatically receive one-tenth of one Class A ordinary share, $0.0001 par value ("Ordinary
Shares"), of AXIOS Sustainable Growth Acquisition Corporation (the "Company") for each Right evidenced
by this Rights Certificate on the Company's completion of an initial Business Combination (as defined in the final prospectus relating
to the Company's Amended and Restated Memorandum and Articles of Association upon surrender of this Right Certificate pursuant to the
Rights Agreement between the Company and Continental Stock Transfer & Trust Company, as Rights Agent. In no event will the Company
be required to net cash settle any Right.

 

Upon liquidation of the Company
in the event an initial business combination is not consummated during the required period as identified in the Company's Amended and
Restated Memorandum and Articles of Association, the Right shall expire and be worthless. As more fully described in the prospectus relating
to the Company's initial public offering ("Prospectus"), the holder of a Right shall have no right or interest of any kind in
the Company's trust account established in connection with the Company's initial public offering (as defined in the Prospectus).

 

Upon due presentment for registration of transfer
of the Right Certificate at the office or agency of the Rights Agent, a new Right Certificate or Right Certificates of like tenor and
evidencing in the aggregate a like number of Rights shall be issued to the transferee in exchange for this Right Certificate, without
charge except for any applicable tax or other governmental charge. The Company shall not issue fractional shares upon exchange of Rights.
The Company reserves the right to deal with any fractional entitlement at the relevant time in any manner (as provided in the Rights Agreement).

 

The Company and the Rights Agent may deem and
treat the registered holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any conversion hereof, of any distribution to the registered holder, and for all other purposes,
and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

 

This Right does not entitle the registered holder
to any of the rights of a shareholder of the Company.

 

	Dated:	 
	 	 
	 	 	 
	Chairman of the Board of Directors  	 	Chief Executive Officer
	 	 
	 	 	 
	Continental Stock Transfer & Trust Company, as Rights Agent	 	 

 

    11

     

    

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM	—	as tenants in common	 	UNIF GIFT MIN ACT —	________Custodian________
	 	 	 	 	 	 
	TEN ENT	—	as tenants by the entireties	 	 	(Cust)                             (Minor)

                                    under Uniform Gifts to Minors

	 	 	 	 	 	 
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	Act                                          

                                    (State)

 

Additional abbreviations may also be used though
not in the above list.

 

    12

     

    

 

AXIOS Sustainable Growth Acquisition Corporation

 

The Company will furnish without
charge to each shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special
rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights. This certificate and the rights represented thereby are issued and shall be held subject to all the provisions of the Amended
and Restated Memorandum and Articles of Association and all amendments thereto and resolutions of the Board of Directors providing for
the issue of securities (copies of which may be obtained from the secretary of the Company), to all of which the holder of this certificate
by acceptance hereof assents.

 

For value
received,                                                                              
hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

	 

                                                                                 

                                                                                 
	 

 

 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

                                                                                 

	 

                                                                                 

	 

                                                                                 

	Rights represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 

	Attorney to transfer said rights on the books of the within named Company will full power of substitution in the premises.
	

                                                                       

                                                                      Dated                                                                    

	 	
     

	 	 	 	 
	 	 	Notice: 	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without
alteration or enlargement or any change whatever.
	 	 	 
	Signature(s) Guaranteed:

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 	 

 

As more fully described in the Prospectus, the
holder of this certificate shall have no right or interest of any kind in or to the funds held in the Company’s trust account established
in connection with the Company’s initial public offering.

 

    13Exhibit 10.1

 

February 15, 2022

 

AXIOS Sustainable Growth Acquisition Corporation

Hidden Pines Farm, 14090, Hopewell Road

Alpharetta, Georgia 30004

 

Re:           Initial
Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into or proposed to be entered into by and between AXIOS Sustainable Growth Acquisition Corporation, a Cayman Islands exempted company
(the “Company”), and I-Bankers Securities, Inc., as the representative (the “Representative”)
of the several underwriters named therein (the “Underwriters”), relating to an underwritten initial public offering
(the “Public Offering”), of up to 17,250,000 of the Company’s units (including up to 2,250,000 units that
may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one Class A ordinary
share of the Company, par value $0.0001 per share (each, an “Ordinary Share”), one right (each, a “Right”)
and one redeemable warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Ordinary Share
at a price of $11.50 per share, subject to adjustment. Each Right entitles the holder to receive one-tenth of an Ordinary Share upon the
consummation of an initial Business Combination. The Units shall be sold in the Public Offering pursuant to a registration statement on
Form S-1 and a prospectus (the “Prospectus”) filed by the Company with the Securities and Exchange Commission
(the “Commission”). Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, AXIOS Sponsor LP, a Delaware limited partnership (the “Sponsor”),
the undersigned persons, each of whom is a member of the Company’s board of directors and/or management team (each, an “Insider”
and collectively, the “Insiders”), each of the undersigned Initial Shareholders and the Private Placement Purchaser
and the Representative hereby severally and not jointly agree with the Company as follows:

 

1.            Each
Initial Shareholder and each Insider agrees with the Company that if the Company seeks shareholder approval of a proposed Business Combination,
then in connection with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her in favor
of any proposed Business Combination (including any proposals recommended by the Company’s Board of Directors in connection with
such Business Combination) and (ii) not redeem any Shares owned by it, him or her in connection with such shareholder approval. The
Representative hereby agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in connection with
such proposed Business Combination, it shall (i) vote the Representative’s Shares owned or controlled by it in favor of any
proposed Business Combination and (ii) not redeem any Representative’s Shares owned or controlled by it in connection with
such shareholder approval.

 

    

     

    

 

2.            The
Sponsor and each Insider hereby agrees with the Company that in the event that the Company fails to consummate a Business Combination
within 12 months (or up to 18 months if the sponsor exercises its extension options) from the closing of the Public Offering, or such
later period approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles
of association, as they may be amended from time to time, the Sponsor and each Insider shall take all reasonable steps to cause the Company
to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than
ten (10) business days thereafter, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest (less up to $100,000 of interest to pay dissolution expenses and which interest shall be net of taxes payable), divided by the
number of then issued and outstanding Offering Shares, which redemption will completely extinguish all Public Shareholders’ rights
as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors,
liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors
and the requirements of other applicable law. Each Initial Shareholder and each Insider agrees to not propose any amendment to the Company’s
amended and restated memorandum and articles of association (i) to modify the substance or timing of the Company’s obligation
to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the
Company does not complete its initial Business Combination within 12 months (or up to 18 months if the sponsor exercises its extension
options) from the closing of the Public Offering, or (ii) with respect to any other provision relating to shareholders’ rights
or pre-initial Business Combination activity, unless the Company provides its Public Shareholders with the opportunity to redeem their
Offering Shares upon approval of any such amendment at a per share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding
Offering Shares.

 

    2

     

    

 

Each Initial Shareholder and each Insider acknowledges
that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset
of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The Representative
further waives any right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the
Company as a result of any liquidation of the Company with respect to the Representative’s Shares held by it. Each Initial Shareholder
and each Insider hereby further waives, with respect to any Shares held by it, him or her, if any, any redemption rights it, he or she
may have in connection with (x) the consummation of a Business Combination, including, without limitation, any such rights available
in the context of a shareholder vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase
Ordinary Shares and (y) a shareholder vote to amend the Company’s amended and restated memorandum and articles of association
(i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s
initial Business Combination or to redeem 100% of the Offering Shares if the Company does not complete its initial Business Combination
within 12 months (or up to 18 months if the sponsor exercises its extension options) from the closing of the Public Offering, or (ii) with
respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity (although the Initial
Shareholders and the Insiders shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold
if the Company fails to consummate a Business Combination within 12 months (or up to 18 months if the sponsor exercises its extension
options) from the date of the closing of the Public Offering). The Representative hereby waives, with respect to any Representative’s
Shares held by it, any redemption rights it may have in connection with (x) the consummation of a Business Combination, including,
without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination or in the context
of a tender offer made by the Company to purchase Ordinary Shares and (y) a shareholder vote to amend the Company’s amended
and restated memorandum and articles of association (i) to modify the substance or timing of the Company’s obligation to allow
redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company
does not complete its initial Business Combination within 12 months (or up to 18 months if the sponsor exercises its extension options)
from the closing of the Public Offering, or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial
Business Combination activity (although the Representative shall be entitled to redemption and liquidation rights with respect to any
Offering Shares it or they hold if the Company fails to consummate a Business Combination within 12 months (or up to 18 months if the
sponsor exercises its extension options) from the date of the closing of the Public Offering).

 

3.            Notwithstanding
the provisions set forth in paragraphs 7(a) and (b) below, during the period commencing on the effective date of the Underwriting
Agreement and ending 180 days after such date, each Initial Shareholder and each Insider shall not, without the prior written consent
of I-Bankers Securities, Inc., offer, sell, contract to sell, pledge or otherwise dispose of (or enter into any transaction that
is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition
due to cash settlement or otherwise)), directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease
a call equivalent position within the meaning of Section 16 (“Section 16”) of the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to, any Units, Shares,
Warrants, Rights or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares, or publicly announce an intention
to effect any such transaction; provided, however, that the foregoing does not apply to the forfeiture of any Founder Shares
pursuant to their terms or any transfer of Founder Shares to any current or future independent director of the company (as long as such
current or future independent director transferee is subject to this Letter Agreement or executes an agreement substantially identical
to the terms of this Letter Agreement, as applicable to directors and officers at the time of such transfer; and as long as, to the extent
any Section 16 reporting obligation is triggered as a result of such transfer, any related Section 16 filing includes a practical
explanation as to the nature of the transfer). The provisions of this paragraph will not apply if the release or waiver is effected solely
to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter
Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

    3

     

    

 

4.            In
the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders,
limited or general partners of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim,
damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become
subject as a result of any claim by (i) any third party for services rendered (other than the Company’s independent registered
public accountants) or products sold to the Company or (ii) a prospective target business with which the Company has discussed entering
into a transaction agreement (a “Target”); provided, however, that such indemnification of the
Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other
than the Company’s independent registered public accountants) or products sold to the Company or a Target do not reduce the amount
of funds in the Trust Account to below (i) $10.20 per Offering Share or (ii) such lesser amount per Offering Share held in the
Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case,
net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any claims
by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the
Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as
amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible
to the extent of any liability for such third-party claims. The Sponsor shall have the right to defend against any such claim with counsel
of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor,
the Sponsor notifies the Company in writing that it shall undertake such defense.

 

5.            To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 2,250,000 Units within 30
days from the date of the Prospectus (and as further described in the Prospectus), the Initial Shareholders agree that they shall forfeit,
at no cost, a number of Founder Shares in the aggregate equal to 562,500 multiplied by a fraction, (i) the numerator of which is
2,250,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the
denominator of which is 2,250,000. All references in this Letter Agreement to Founder Shares of the Company being forfeited shall take
effect as surrenders for no consideration of such Founder Shares as a matter of Cayman Islands law. The forfeiture will be adjusted to
the extent that the over-allotment option is not exercised in full by the Underwriters so that the number of Founder Shares will equal
an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering. The Initial Shareholders further
agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a capitalization or share
repurchase or redemption, as applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain the
number of Founder Shares at 20.0% of the Company’s issued and outstanding Shares upon the consummation of the Public Offering. In
connection with such increase or decrease in the size of the Public Offering, then (A) the references to 2,250,000 in the numerator
and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15.0% of the number of Ordinary
Shares included in the Units issued in the Public Offering and (B) the reference to 562,500 in the formula set forth in the immediately
preceding sentence shall be adjusted to such number of Founder Shares that the Sponsor would have to return to the Company in order for
the number of Founder Shares to equal an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering.

 

    4

     

    

 

6.            The
Sponsor, each Initial Shareholder, each Insider and the Representative hereby agrees and acknowledges that: (i) the Underwriters
and the Company would be irreparably injured in the event of a breach by such Sponsor, Initial Shareholder, Insider or Representative
of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9, as applicable, of this Letter Agreement (ii) monetary
damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to seek injunctive relief,
in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

7.            (a) Each
Initial Shareholder and each Insider agrees that it, he or she shall not Transfer (as defined below) any Founder Shares (or Ordinary Shares
issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business
Combination and (B) subsequent to the Business Combination, (x) if the last reported sale price of the Ordinary Shares equals
or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, reorganizations, recapitalizations
and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s
initial Business Combination or (y) the date following the completion of the Company’s initial Business Combination on which
the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s
shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the “Founder Shares
Lock-up Period”).

 

(b)           The
Sponsor and the Private Placement Purchaser each agree that it, he or she shall not Transfer any Private Placement Warrants (or Ordinary
Shares issued or issuable upon the exercise or conversion of the Private Placement Warrants), until 30 days after the completion of a
Business Combination (the “Private Placement Warrants Lock-up Period,” together with the Founder Shares Lock-up
Period, the “Lock-up Periods”).

 

(c)            Notwithstanding
the provisions set forth in paragraphs 7(a) and (b), transfers of the Founder Shares, Private Placement Warrants and Ordinary Shares
issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares, are permitted (a) to
the Company’s directors or officers, any affiliates or family members of any of the Company’s directors or officers, any direct
or indirect members of the Initial Shareholders or any affiliates of the Initial Shareholders or the Representative; (b) in the case
of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of
the individual’s immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual,
by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified
domestic relations order; (e) by private sales or transfers made in connection with the consummation of the Company’s Business
Combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of the Company’s
liquidation prior to the Company’s completion of its initial Business Combination; (g) in the case of an entity, by virtue
of the laws of its jurisdiction or its organizational documents or operating agreement; and (h) in the event of the Company’s
completion of a liquidation, merger, share exchange, reorganization or other similar transaction which results in all of the Company’s
shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of
the Company’s initial Business Combination; provided, however, that, in the case of clauses (a) through (e) and
(g), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions
in this Agreement.

 

    5

     

    

 

8.             The
Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any securities
or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s
biographical information furnished to the Company, if any (including any such information included in the Prospectus), is true and accurate
in all respects and does not omit any material information with respect to such Insider’s background. Each Insider’s questionnaire
furnished to the Company, if any, is true and accurate in all respects. Each Insider represents and warrants that: it, he or she is not
subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any jurisdiction; it, he or she has never been convicted of, or pleaded
guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person,
or (iii) pertaining to any dealings in any securities and it, he or she is not currently a defendant in any such criminal proceeding.

 

9.             Except
as disclosed in, or as expressly contemplated by, the Prospectus, or as otherwise contemplated in the proxy statement related to the Company’s
initial Business Combination, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or
officer of the Company, shall receive from the Company any fees or compensation of any kind for reimbursement, consulting fee, monies
in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered prior to, or in connection
with, the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

 

10.           The
Representative, Sponsor, each Initial Shareholder, the Private Placement Purchaser and each Insider has full right and power, without
violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any
employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director on the board
of directors or an advisor of the Company and hereby consents to being named in the Prospectus as an officer and/or director of the Company
or an advisor of the Company.

 

    6

     

    

 

11.            As
used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall mean
the 4,312,500 Class B Ordinary Shares, par value $0.0001 per share, issued and outstanding immediately prior to the consummation
of the Public Offering; (iv) “Initial Shareholders” shall mean the Sponsor, Celtic Asset & Equity
Partners, and any other person that holds Founder Shares; (v) “Private Placement Purchaser” shall mean
I-Bankers Securities, Inc.; (vi) “Private Placement Warrants” shall mean the aggregate of 9,020,000
Warrants (or up to 9,920,000 Warrants depending on the extent to which the Underwriters’ over-allotment option is exercised pursuant
to the Underwriting Agreement) that the Sponsor and Private Placement Purchaser have agreed to purchase for an aggregate purchase price
of $9,020,000 (or $9,920,000 depending on the extent to which the Underwriters’ over-allotment option is exercised pursuant to the
Underwriting Agreement), or $1.00 per Warrant, in a private placement that shall occur simultaneously with the consummation of the Public
Offering; (vii) “Public Shareholders” shall mean the holders of securities issued in the Public Offering;
(viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public
Offering shall be deposited; (ix) “Transfer” shall mean the (a) sale of, offer to sell, contract or
agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or
indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent
position within the meaning of Section 16, (b) entry into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of
such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause
(a) or (b); and (x) “Representative’s Shares” shall mean the 310,000 shares of our Class A
ordinary shares (or up to 360,000 shares if the over-allotment option is exercised in full) to be issued to the Representative and/or
its designees upon the closing of the Public Offering.

 

12.            This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they
relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by (1) each Insider, each Initial Shareholder and the Representative, in each case, that is the subject of any such change, amendment,
modification or waiver and (2) the Sponsor.

 

13.            This
Letter 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 Letter 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 Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

14.            No
party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor, the Private
Placement Purchaser, the Representative and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

    7

     

    

 

15.            This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The parties hereto
(i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

16.            Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter 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 or
facsimile or other electronic transmission.

 

17.            Each
party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party to this
Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable
or responsible for the obligations of another party, including, without limitation, indemnification obligations and notice obligations.

 

18.            This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods and (ii) the liquidation of the
Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is
not consummated and closed by June 30, 2022; provided, further, that paragraph 4 of this Letter Agreement shall survive
such liquidation.

 

19.            This
Letter 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.

 

[Signature page follows]

 

    8

     

    

 

	 	Sincerely,
	 	 
	 	AXIOS Sponsor LP
	 	 
	 	 
	 	By:	/s/ Benedikt E. Förtig
	 	 	Name:	Benedikt E. Förtig
	 	 	Title:	Authorized Signatory
	 	 
	 	 
	 	/s/ Dr. Ram Bürgi-Krishnamurthy
	 	Name: Dr. Ram Bürgi-Krishnamurthy
	 	 
	 	 
	 	/s/ Anthony V. Raftopol
	 	Name: Anthony V. Raftopol
	 	 
	 	 
	 	/s/ Prof. Dr. h.c. Martin Richenhagen
	 	Name: Prof. Dr. h.c. Martin Richenhagen
	 	 
	 	 
	 	/s/ Dr. Uwe Nickel
	 	Name: Dr. Uwe Nickel
	 	 
	 	 
	 	/s/ Jeffrey B. Kamins
	 	Name: Jeffrey B. Kamins
	 	 
	 	 
	 	/s/ Hans-Bernd Veltmaat
	 	Name: Hans-Bernd Veltmaat
	 	 
	 	 
	 	/s/ Matthias Krön
	 	Name: Matthias Krön
	 	 

 

[Signature Page to Letter Agreement]

 

    

     

    

 

	 	/s/ Dr. Thomas Berger
	 	Name: Dr. Thomas Berger
	 	 
	 	 
	 	/s/ Kristopher Lance Anderson
	 	Name: Kristopher Lance Anderson
	 	 
	 	 
	 	/s/ Matthijs Mondria
	 	Name: Matthijs Mondria
	 	 
	 	 
	 	Celtic Asset and Equity Partners
	 	 
	 	 
	 	By:	/s/ Alexander Schinzing
	 	 	Name:	Alexander Schinzing
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	 
	 	I-Bankers Securities, Inc.
	 	 
	 	 
	 	By:	/s/ Shelley Leonard
	 	 	Name:	Shelley Leonard
	 	 	Title:	Authorized Signatory
	 	 
	 	 
	Acknowledged and Agreed:	 

 

	AXIOS SUSTAINABLE GROWTH ACQUISITION CORPORATION	 
	 	 
	 	 
	By: 	/s/ Benedikt E. Förtig	 
	 	Name:	Benedikt E. Förtig	 
	 	Title:	Chief Executive Officer	 

 

[Signature Page to Letter Agreement]

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