Document:

Exhibit 10.13

 

CHARDAN NEXTECH ACQUISITION 2 CORP.

PROMISSORY NOTE

 

	
    Principal Amount: Not to Exceed U.S. $200,000.00

     
	Dated as of August 11, 2022

 

FOR VALUE RECEIVED and subject
to the terms and conditions set forth herein, Chardan NexTech Acquisition 2 Corp., a Delaware limited liability company (the “Maker”),
promises to pay to Chardan NexTech 2 Warrant Holdings, LLC (the “Payee”), or order, the principal balance outstanding
under this promissory note (the “Note”) in lawful money of the United States of America. All payments on this Note
shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the
Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1.     Principal. All
unpaid principal under this Note shall be due and payable in full on the effective date of the proposed business combination (the “Maturity
Date”) with Dragonfly Energy Corp. (“Dragonfly”), unless accelerated upon the occurrence of an Event of Default
(as defined below). Notwithstanding the preceding sentence, the Note will not be repaid if the Maker is unable to close a business combination,
unless there are funds available outside its trust account to do so. Any outstanding principal amount to date under this Note may be prepaid
at any time by the Maker, at its election and without penalty.

 

2.       Interest. No
interest shall accrue on the unpaid principal balance of this Note.

 

3.       Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.

 

4.       Events
of Default. The occurrence of any of the following shall constitute an event of default (“Event of Default”):

 

(a)       Failure
to Make Required Payments. Failure by the Maker to pay the principal amount due pursuant to this Note within five (5) business days
of the date specified in Section 1 above.

 

(b)       Voluntary
Bankruptcy, Etc. The commencement by the Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation
or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of the Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of the Maker generally to pay its debts as such debts become due, or the taking of corporate
action by the Maker in furtherance of any of the foregoing.

 

(c)       Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of the Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Maker or for any substantial part of its property, or ordering the winding-up
or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive
days.

 

5.       Remedies.

 

(a)       Upon
the occurrence of an Event of Default specified in Section 4(a) hereof, the Payee may, by written notice to the Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall
become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)       Upon
the occurrence of an Event of Default specified in Sections 4(b) or 4(c), the unpaid principal balance of this Note, and all other sums
payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part
of the Payee.

 

     

     

    

 

6.       Waivers. The
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by the Payee under
the terms of this Note, and all benefits that might accrue to the Maker by virtue of any present or future laws exempting any property,
real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and the Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold
upon any such writ in whole or in part in any order desired by the Payee.

 

7.       Unconditional
Liability. The Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party,
and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to
by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by the Payee with
respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to the Maker or affecting the Maker’s liability hereunder.

 

8.       Notices. All
notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or electronic transmission, or (ii) by electronic mail,
in each case, to the address or electronic mail address (as applicable) most recently provided to such party or such other address or
electronic mail address (as applicable) as may be specified 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, on the business day following receipt
of written confirmation, if sent by electronic transmission, one (1) business day after delivery to an overnight courier service or five
(5) days after mailing if sent by mail.

 

9.     Construction. THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN
THE STATE OF NEW YORK.

 

10.     Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

11.     Trust
Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of or from the trust account established in which proceeds of
the Maker’s initial public offering of its securities (the “IPO”) (including the deferred underwriters discounts
and commissions) and proceeds of the sale of the warrants issued by the Maker in a private placement that occurred in connection with
the IPO were deposited, as described in greater detail in the registration statement and prospectus filed with the Securities and Exchange
Commission in connection with the IPO on August 10, 2021, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the trust account for any reason whatsoever.

 

12.     Amendment;
Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
the Maker and the Payee.

 

13.     Successors
and Assigns.  Subject to Section 14 below, the rights and obligations of the Maker and the Payee hereunder shall be binding
upon and benefit the successors, assigns, heirs, administrators and transferees of any party hereto (by operation of law or otherwise)
with the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

 

14.     Transfer
of this Note.  No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto
(by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
required consent shall be void.

 

[Signature Page Follows]

 

    2 

     

    

 

IN WITNESS WHEREOF, the Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	 	CHARDAN NEXTECH ACQUISITION 2 CORP.
	 	 
	 	By:	/s/ Jonas Grossman
	 	 	Name: Jonas Grossman
	 	 	Title: Chief Executive Officer

 

	Acknowledged and agreed as of the
    day and year first above written.	 
	 	 
	Chardan NexTech 2 Warrant Holdings, LLC	 
	 	 
	By:	/s/ Jonas Grossman	 
	 	Name: Jonas Grossman	 
	 	Title: Manager	 

 

[Signature Page to Promissory Note – Chardan NexTech Acquisition
2 Corp.]Exhibit 10.14

 

CHARDAN NEXTECH ACQUISITION 2 CORP.

PROMISSORY NOTE

 

	Principal Amount: Not to Exceed U.S. $200,000.00  	Dated as of September 6, 2022

 

FOR VALUE RECEIVED and subject
to the terms and conditions set forth herein, Chardan NexTech Acquisition 2 Corp., a Delaware limited liability company (the “Maker”),
promises to pay to Chardan NexTech 2 Warrant Holdings, LLC (the “Payee”), or order, the principal balance outstanding
under this promissory note (the “Note”) in lawful money of the United States of America. All payments on this Note
shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the
Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1.      Principal. All
unpaid principal under this Note shall be due and payable in full on the effective date of the proposed business combination (the “Maturity
Date”) with Dragonfly Energy Corp. (“Dragonfly”), unless accelerated upon the occurrence of an Event of Default
(as defined below). Notwithstanding the preceding sentence, the Note will not be repaid if the Maker is unable to close a business combination,
unless there are funds available outside its trust account to do so. Any outstanding principal amount to date under this Note may be prepaid
at any time by the Maker, at its election and without penalty.

 

2.       Interest. No
interest shall accrue on the unpaid principal balance of this Note.

 

3.      Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.

 

4.       Events
of Default. The occurrence of any of the following shall constitute an event of default (“Event of Default”):

 

(a)       Failure
to Make Required Payments. Failure by the Maker to pay the principal amount due pursuant to this Note within five (5) business days
of the date specified in Section 1 above.

 

(b)       Voluntary
Bankruptcy, Etc. The commencement by the Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation
or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of the Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of the Maker generally to pay its debts as such debts become due, or the taking of corporate
action by the Maker in furtherance of any of the foregoing.

 

(c)       Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of the Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Maker or for any substantial part of its property, or ordering the winding-up
or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive
days.

 

5.       Remedies.

 

(a)       Upon
the occurrence of an Event of Default specified in Section 4(a) hereof, the Payee may, by written notice to the Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall
become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)       Upon
the occurrence of an Event of Default specified in Sections 4(b) or 4(c), the unpaid principal balance of this Note, and all other sums
payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part
of the Payee.

 

     

     

    

 

6.      Waivers. The
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by the Payee under
the terms of this Note, and all benefits that might accrue to the Maker by virtue of any present or future laws exempting any property,
real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and the Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold
upon any such writ in whole or in part in any order desired by the Payee.

 

7.       Unconditional
Liability. The Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party,
and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to
by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by the Payee with
respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to the Maker or affecting the Maker’s liability hereunder.

 

8.       Notices. All
notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or electronic transmission, or (ii) by electronic mail,
in each case, to the address or electronic mail address (as applicable) most recently provided to such party or such other address or
electronic mail address (as applicable) as may be specified 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, on the business day following receipt
of written confirmation, if sent by electronic transmission, one (1) business day after delivery to an overnight courier service or five
(5) days after mailing if sent by mail.

 

9.     Construction. THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN
THE STATE OF NEW YORK.

 

10.    Severability. Any
provision contained in this Note that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

11.    Trust
Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of or from the trust account established in which proceeds of
the Maker’s initial public offering of its securities (the “IPO”) (including the deferred underwriters discounts
and commissions) and proceeds of the sale of the warrants issued by the Maker in a private placement that occurred in connection with
the IPO were deposited, as described in greater detail in the registration statement and prospectus filed with the Securities and Exchange
Commission in connection with the IPO on August 10, 2021, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the trust account for any reason whatsoever.

 

12.    Amendment;
Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
the Maker and the Payee.

 

13.     Successors
and Assigns.  Subject to Section 14 below, the rights and obligations of the Maker and the Payee hereunder shall be binding
upon and benefit the successors, assigns, heirs, administrators and transferees of any party hereto (by operation of law or otherwise)
with the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

 

14.    Transfer
of this Note.  No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto
(by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
required consent shall be void.

 

[Signature Page Follows]

 

    2 

     

    

 

IN WITNESS WHEREOF, the Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	 	CHARDAN NEXTECH ACQUISITION 2 CORP.
	 	 
	 	By:	/s/ Jonas Grossman
	 	 	Name: Jonas Grossman
	 	 	Title: Chief Executive Officer

 

Acknowledged and agreed as of the day and year
first above written.

 

	Chardan NexTech 2 Warrant Holdings,
    LLC	 
	 	 
	By:	/s/ Jonas Grossman	 
	 	Name: Jonas Grossman	 
	 	Title: Manager	 

 

[Signature Page to Promissory Note – Chardan NexTech Acquisition
2 Corp.]

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