Document:

Exhibit
10.8

 

ESGEN
Acquisition Corporation

5956 Sherry Lane

Suite 1400

Dallas, TX 75225

September [●], 2021

 

 

 

Salient Partners, L.P.

4265 San Felipe 8th Floor

Houston, TX 77027

 

RE:          Securities
Subscription Agreement

 

Gentlemen:

 

This agreement (this “Agreement”)
is entered into on September [●], 2021 by and between certain client accounts of Salient Partners, L.P., (each, a “Subscriber”
or “you”), and ESGEN Acquisition Corporation, a Cayman Islands exempted company (the “Company”).
Pursuant to the terms hereof, the Company hereby accepts the offer of the Subscribers to purchase an aggregate amount of 831,393 Class
B ordinary shares (the “Shares”) in the individual purchase amounts indicated on the signature pages hereto. Up to
29,575 of such Shares, in the aggregate, are subject to surrender and cancellation by you, in the individual amounts indicated on the
signature pages hereto, if the underwriters of the initial public offering (“IPO”) of units (“Units”)
of the Company do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and each
Subscriber’s agreements regarding such Shares are as follows:

 

1.             Purchase of Securities

 

1.1              
Purchase of Shares

 

For the sum of $0.35 per share
(the “Purchase Price”), which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the
Subscribers, and the Subscribers hereby subscribe for and purchases the Shares from the Company, 29,575 of which are subject to surrender
and cancellation in the aggregate, on the terms and subject to the conditions set forth in this Agreement. All references in this Agreement
to shares of the Company being surrendered and canceled shall take effect as surrenders and cancellations for no consideration of such
shares as a matter of Cayman Islands law.

 

2.             Representations, Warranties and Agreements

 

2.1              
Subscriber’s Representations, Warranties and Agreements

 

To induce the Company to issue
the Shares to each Subscriber, each Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1         
No Government Recommendation or Approval

 

The Subscriber understands that
no federal or state agency has passed upon or made any recommendation or endorsement of the offering of the Shares.

 

    1

     

    

 

2.1.2         
No Conflicts

 

The execution, delivery and
performance of this Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not violate, conflict
with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any agreement, indenture or instrument
to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the Subscriber is subject, or any agreement,
order, judgment or decree to which the Subscriber is subject.

 

2.1.3         
Registration and Authority

 

The Subscriber possesses all
requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by you,
this Agreement will be a legal, valid and binding agreement of Subscriber, enforceable against Subscriber 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

 

Subscriber is: (i) sophisticated
in financial matters and is able to evaluate the risks and benefits of the investment in the Shares; and (ii) able to bear the economic
risk of its investment in the Shares for an indefinite period of time because the Shares 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. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity
to protect its own interests. Subscriber must bear the economic risk of this investment until the Shares 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.
Subscriber is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment
in the Shares.

 

2.1.5         
Access to Information; Independent Investigation

 

Prior to the execution of this
Agreement, the Subscriber 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, Subscriber
has relied solely on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s
own due diligence investigation and the information furnished pursuant to this paragraph. Subscriber understands that no person has been
authorized to give any information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber 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         
Regulation D Offering

 

Subscriber represents that it
is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended
(the “Securities Act”) and acknowledges the sale contemplated hereby is being made in reliance on a private placement
exemption to “accredited investors” within the meaning of Section 501(a) of Regulation D under the Securities Act or similar
exemptions under federal and state law.

 

    2

     

    

 

2.1.7         
Investment Purposes

 

The Subscriber is purchasing
the Shares solely for investment purposes, for the Subscriber’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 Subscriber did not decide to enter into this Agreement as a
result of any general solicitation or general advertising within the meaning of Rule 502 of Regulation D under the Securities Act.

 

2.1.8         
Restrictions on Transfer; Shell Company

 

Subscriber understands the Shares
are being offered in a transaction not involving a public offering within the meaning of the Securities Act. Subscriber understands the
Shares will be “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands
that the certificates representing the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides
to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant
to: (i) registration under the Securities Act; or (ii) an available exemption from registration. Subscriber agrees that if any transfer
of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required
to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees
not to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available to
the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the Company,
despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9         
No Governmental Consents

 

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

 

2.2              
Company’s Representations, Warranties and Agreements

 

To induce each Subscriber
to purchase the Shares, the Company hereby represents and warrants to each Subscriber and agrees with each Subscriber as follows:

 

2.2.1         
Incorporation 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 carry out the transactions contemplated by this Agreement. Upon execution and delivery by the
Company, this Agreement will be 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 memorandum and articles of association of the Company, (ii) any agreement,
indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation to which the Company is
subject, or any agreement, order, judgment or decree to which the Company is subject.

 

    3

     

    

 

2.2.3         
Title to Securities

 

Upon issuance in accordance
with, and payment pursuant to, the terms hereof, and registration in the Company’s register of members, the Shares will be duly
and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration
in the Company’s register of members, each Subscriber will have or receive good title to the Shares, free and clear of all liens,
claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and other agreements to which the Shares may be subject,
(ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions
of each Subscriber.

 

2.2.4         
No Adverse Actions

 

There are no actions, suits,
investigations or proceedings pending, threatened against or affecting the Company 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.

 

2.2.5         
Change in Investment.

 

If,
prior to, or in connection with, the Company’s initial business combination, the Company’s sponsor or members of management
of the Company who directly or indirectly hold Shares and/or private placement warrants agree to forfeit, transfer, exchange, defer, escrow,
make contingent, subject to earnout or vesting, lockup or amend the terms of all or any portion of the Shares, private placement warrants
and/or the Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”)
issuable upon conversion of the Shares or exercise of the private placement warrants (collectively, the “Insider Securities”)
or any rights or agreements relating thereto (including any lockup agreement, insider letter or registration rights agreement entered
into with respect to such securities) or to enter into any other arrangements (including agreements relating to lockup, forfeiture, earnout,
escrow and vesting provisions) with respect to the any of the Insider Securities to facilitate the consummation of an initial business
combination, including voting in favor of any amendment to the terms of the any such Insider Securities (each, a “Change in Investment”),
each Subscriber (and any transferees or successors) shall be bound by such terms and shall enter into any such agreement or arrangement
involving a Change in Investment (including any amendment to this Agreement), vote in favor of any proposal involving a Change in Investment
and otherwise facilitate or take any action to effect or permit any Change in Investment with respect to the Shares, warrants and/or shares
of Class A Ordinary Shares issuable upon exercise of the warrants on the same terms and conditions and on a pro rata basis as the Company’s
sponsor and members of management of the Company (and/or their affiliates) which hold such shares of such affected Insider Securities.

 

3.             Surrender and Cancellation of Shares

 

3.1              
Partial or No Exercise of the Over-allotment Option

 

In the event the
Over-allotment Option granted to the representative(s) of the underwriters of the Company’s IPO is not exercised in full, each
Subscriber acknowledges and agrees that it shall surrender for cancellation any and all rights to such number of Shares (up to an
aggregate of 29,575 Shares and pro rata based upon the percentage of the Over-allotment Option exercised, in the individual amounts
indicated on the signature pages hereto) such that immediately following such surrender, the Subscribers (and all other initial
shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable upon exercise
of any warrants or any ordinary shares purchased by the Subscribers in the Company’s IPO or in the aftermarket), which, when
combined with the shares of our sponsor and independent directors, equal to 20% of the issued and outstanding ordinary shares of the
Company immediately following the IPO.

 

    4

     

    

 

3.2              
Termination of Rights as Shareholder

 

If any of the Shares are surrendered
and cancelled in accordance with this Section 3, then after such time each Subscriber (or successor in interest), shall no longer have
any rights as a holder of such Shares, and the Company shall take such action as is appropriate to cancel such Shares.

 

4.            
Waiver of Liquidation Distributions; Redemption Rights

 

In connection with the Shares
purchased pursuant to this Agreement, each Subscriber 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 shareholders
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. For purposes of clarity,
in the event any Subscriber purchases ordinary shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible
to receive any liquidating distributions by the Company. However, in no event will any Subscriber have the right to redeem any ordinary
shares into funds held in the Trust Account upon the successful completion of an initial business combination.

 

5.             Restrictions
on Transfer

 

5.1              
Securities Law Restrictions

 

In addition to any restrictions
to be contained in that certain letter agreement (commonly known as an “Insider Letter”) to be dated as of the closing
of the IPO by and between each Subscriber and the Company, each Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise
dispose of all or any part of the Shares unless, prior thereto (i) a registration statement on the appropriate form under the Securities
Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then be effective or (ii) the Company
has received an opinion from counsel 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 Securities and Exchange Commission thereunder and
with all applicable state securities laws.

 

5.2              
Restrictive Legends

 

Any certificates representing
the Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES 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 LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

    5

     

    

 

5.3              
Additional Shares or Substituted Securities

 

In the event of the declaration
of a share capitalization, the declaration of an extraordinary dividend payable in a form other than Shares, a spin-off, a share sub-division,
an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding Shares 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 Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject
to Section 3 or this Section 5. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the
number and/or class of Shares subject to Section 3 or this Section 5.

 

5.4              
Registration Rights

 

Each Subscriber acknowledges
that the Shares 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 and Shareholder Rights Agreement
to be entered into with the Company prior to the closing of the IPO.

 

6.             Other Agreements

 

6.1              
Further Assurances

 

Each Subscriber agrees 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, on the business day following receipt of written confirmation, 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 that certain Insider Letter to be entered into between each Subscriber and the Company, substantially in the form to
be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO, embodies the entire
agreement and understanding between the Subscriber 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

     

    

 

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 Delaware applicable to contracts
wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof.

 

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.

 

    7

     

    

 

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.

 

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.

 

    8

     

    

 

6.16           
Mutual Drafting

 

This Agreement is the joint
product of the Subscriber and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement
of such parties and shall not be construed for or against any party hereto.

 

7.             Voting and Redemption of Shares

 

Each Subscriber agrees to vote the Shares in favor
of an initial business combination that the Company negotiates and submits for approval to the Company’s shareholders and shall
not seek redemption or repurchase with respect to such Shares. Additionally, each Subscriber agrees not to tender any Shares in connection
with a tender offer presented to the Company’s shareholders in connection with an initial business combination negotiated by the
Company.

 

[Signature Page Follows]

 

    9

     

    

 

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,
	 	 
	 	ESGEN ACQUISITION CORPORATION
	 	 
	 	By:	 
	 	Name:	James P. Benson
	 	Title:	Authorized Signatory

 

Accepted and agreed as of the date first written
above.

 

	[SIGNATORY]	 
	 	 
	By:	 	 
	Name:	[●]	 
	Title:	[●]Exhibit 10.9

 

[•], 2021

 

ESGEN Acquisition Corporation

5956 Sherry Lane

Suite 1400

Dallas, Texas 75225

 

		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 by and among ESGEN Acquisition Corporation, a Cayman Islands exempted company (the “Company”),
and Citigroup Global Markets Inc. and Barclays Capital Inc., as representatives (the “Representatives”) of the
several underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”) of 23,000,000 of the Company’s units (including 3,000,000 units that may be purchased pursuant to the Underwriters’
option to purchase additional units, the “Units”), each comprising of one of the Company’s Class A ordinary
shares, par value $0.0001 per share (the “Ordinary Shares”), and one-half of one redeemable warrant (each whole
warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of
$11.50 per share, subject to adjustment. The Units will be sold in the Public Offering pursuant to a registration statement on Form S-l
and a prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the
 “Commission”). Certain capitalized terms used herein are defined in paragraph 1 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, ESGEN LLC (the “Sponsor”) and each
of the undersigned, including one or more client accounts of Salient Capital Advisors, LLC, a Texas limited liability company, (each,
an “Insider” and, collectively, the “Insiders”) hereby agree with the Company as follows:

 

1.            Definitions.
As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses or entities; (ii) “Founder Shares”
shall mean the 5,750,000 (includes the 750,000 Founder Shares subject to forfeiture) Class B ordinary shares of the Company, par value
$0.0001 per share, outstanding prior to the consummation of the Public Offering; (iii) “Private Placement Warrants”
shall mean the warrants to purchase Ordinary Shares of the Company that will be acquired by the Sponsor and one or more client accounts
of Salient Capital Advisors, LLC., a Texas limited liability company, for an aggregate purchase price of $11,000,000 (or up to $12,200,00
if the Underwriters’ exercise their option to purchase additional units), or $1.00 per Warrant, in a private placement that shall
close simultaneously with the consummation of the Public Offering (including Ordinary Shares issuable upon conversion thereof); (iv)
 “Public Shareholders” shall mean the holders of Ordinary Shares included in the Units issued in the Public
Offering; (v) “Public Shares” shall mean the Ordinary Shares included in the Units issued in the Public Offering;
(vi) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public Offering
and the sale of the Private Placement Warrants shall be deposited; (vii) “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 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder with respect to, any security, (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 (viii) “Charter” shall mean the Company’s Amended and Restated Memorandum
and Articles of Association, as the same may be amended from time to time.

 

     

     

    

 

		2.	Representations and Warranties.

 

(a)              
The Sponsor and each Insider, with respect to itself, herself or himself, represent and warrant to the Company that it,
she or he has the full right and power, without violating any agreement to which it, she or he is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement, as applicable,
and to serve as an officer of the Company and/or a director on the Company’s Board of Directors (the “Board”),
as applicable, and each Insider hereby consents to being named in the Prospectus, road show and any other materials as an officer and/or
director of the Company, as applicable.

 

(b)              
Each Insider represents and warrants, with respect to herself or himself, that such Insider’s biographical information
furnished to the Company (including any such information included in the Prospectus) is true and accurate in all material respects and
does not omit any material information with respect to such Insider’s background. The Insider’s questionnaire furnished to
the Company is true and accurate in all material respects. Each Insider represents and warrants that such Insider 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; such Insider 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 such Insider is not currently a defendant in any such criminal proceeding; and such Insider 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.

 

3.           Business
Combination Vote. It is acknowledged and agreed that the Company shall not enter into a definitive agreement regarding a proposed
Business Combination without the prior consent of the Sponsor. The Sponsor and each Insider, with respect to itself, herself or himself,
agrees that if the Company seeks shareholder approval of a proposed initial Business Combination, then in connection with such proposed
initial Business Combination, it, she or he, as applicable, shall vote all Founder Shares and any Public Shares held by it, her or him,
as applicable, in favor of such proposed initial Business Combination (including any proposals recommended by the Board in connection
with such Business Combination) and not redeem any Public Shares held by it, her or him, as applicable, in connection with such shareholder
approval.

 

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4.            Failure
to Consummate a Business Combination: Trust Account Waiver.

 

(a)              
The Sponsor and each Insider hereby agree, with respect to itself, herself or himself, that in the event that the Company
fails to consummate its initial Business Combination within the time period set forth in the Charter, 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 10 business days thereafter, redeem 100% of the Public Shares, at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not
previously released to the Company to pay income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number
of then outstanding Public Shares, which redemption will completely extinguish 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 Board, liquidate and dissolve, subject in the case of clauses
(ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject
to the other requirements of applicable law. The Sponsor and each Insider agree not to propose any amendment to the Charter (i) that would
modify the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their shares
redeemed in connection with an initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete an
initial Business Combination within the required time period set forth in the Charter or (ii) with respect to any provision relating to
the rights of holders of Public Shares unless the Company provides its Public Shareholders with the opportunity to redeem their Public
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 earned on the funds held in the Trust Account and not previously released to the Company to pay taxes,
if any, divided by the number of then-outstanding Public Shares.

 

(b)               The
Sponsor and each Insider, with respect to itself, herself or himself, acknowledges that it, she or he 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, her or him, if any (which, for the avoidance of doubt, shall include
any monies deposited in or loans made to the Trust Account for purposes of extending the period of time to consummate a Business
Combination). The Sponsor and each of the Insiders hereby further waive, with respect to any Founder Shares and Public Shares held
by it, her or him, as applicable, any redemption rights it, she or he may have in connection with 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 a shareholder vote to approve an amendment to the Charter (i) that would modify the substance or timing of the
Company’s obligation to provide holders of the Public Shares the right to have their shares redeemed in connection with an
initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial Business
Combination within the time period set forth in the Charter or (ii) with respect to any provision relating to the rights of holders
of Public Shares (although the Sponsor and the Insiders shall be entitled to liquidation rights with respect to any Public Shares
they hold if the Company fails to consummate a Business Combination within the required time period set forth in the Charter).

 

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5.             Lock-up:
Transfer Restrictions.

 

(a)              
The Sponsor and the Insiders agree that they shall not Transfer any Founder Shares (the “Founder Shares Lock-up”)
until the earliest of (A) one year after the completion of an initial Business Combination and (B) following the completion of an initial
Business Combination, the date on which the Company completes a liquidation, merger, share exchange 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”). Notwithstanding the foregoing, if, subsequent to a Business Combination,
the closing price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations,
share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing
at least 150 days after the Company’s initial Business Combination, the Founder Shares shall be released from the Founder Shares
Lock-up.

 

(b)              
The Sponsor and Insiders agree that they shall not effectuate any Transfer of Private Placement Warrants or Ordinary Shares
underlying such warrants until 30 days after the completion of an initial Business Combination.

 

(c)              
Notwithstanding the provisions set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private
Placement Warrants and Ordinary Shares underlying the Private Placement Warrants are permitted (a) to the Company’s officers or
directors, any affiliate or family member of any of the Company’s officers or directors, any members or partners of the Sponsor
or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to
a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family, 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 a Business Combination at prices no greater than the price
at which the Founder Shares, Private Placement Warrants or Ordinary Shares, as applicable, were originally purchased; (f) by virtue of
the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company for no value for cancellation
in connection with the consummation of an initial Business Combination, (h) in the event of the Company’s liquidation prior to the
completion of a Business Combination; or (i) in the event of completion of a liquidation, merger, share exchange or other similar transaction
which results in all of the Company’s Public Shareholders having the right to exchange their Ordinary Shares for cash, securities
or other property subsequent to the completion of an initial Business Combination; provided, however, that in the case of
clauses (a) through (f) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.

 

(d)               During
the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each
Insider shall not, without the prior written consent of the Representatives, Transfer any Units, Ordinary Shares, Warrants or any
other securities convertible into, or exercisable or exchangeable for, Ordinary Shares held by it, her or him, as applicable,
subject to certain exceptions enumerated in Section [5(g)] of the Underwriting Agreement.

 

    4 

     

    

 

6.            Remedies.
The Sponsor and each of the Insiders hereby agree and acknowledge that (i) each of the Underwriters and the Company would be irreparably
injured in the event of a breach by the Sponsor or such Insider of its, her or his obligations, as applicable under paragraphs 3,
4, 5, 7, 10 and 11, (ii) monetary damages may not be an adequate remedy for such breach and (iii)
the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in
equity, in the event of such breach.

 

7.            Payments
by the Company. Except as disclosed in the Prospectus, neither the Sponsor nor any affiliate of the Sponsor nor any director
or officer of the Company nor any affiliate of the officers shall receive from the Company any finder’s fee, reimbursement, consulting
fee, monies in respect of any payment of a loan or other compensation prior to, or in connection with any services rendered in order
to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

 

8.           Director and Officer Liability Insurance. The Company will maintain an insurance policy or policies providing directors’
and officers’ liability insurance, and the Company’s directors and officers shall be covered by such policy or policies, in
accordance with its or their terms.

 

9.           Termination.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-up Period and (ii) the liquidation
of the Company.

 

10.         Indemnification.
In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination
within the time period set forth in the Charter, the Sponsor (the “Indemnitor”) 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) to which the Company may become subject as a result of any claim by (i) any third party for services rendered
or products sold to the Company (except for the Company’s independent auditors) or (ii) any 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 Indemnitor (x) shall apply only to the extent necessary to ensure that such claims
by a third party for services rendered or products sold to the Company or a Target do not reduce the amount of funds in the Trust
Account to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as
of the date of the liquidation of the Trust Account if less than $10.00 per Public Share due to reductions in the value of the trust
assets, in each case net of interest that may be withdrawn to pay the Company’s tax obligations, (y) shall not apply to any
claims by a third party or Target who executed a waiver of any and all rights to the monies held in the Trust Account (whether or
not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor 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 Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake
such defense.

 

    5 

     

    

 

11.          Forfeiture
of Founder Shares. To the extent that the Underwriters do not exercise their option to purchase additional Units within 45 days
from the date of the Prospectus in full (as further described in the Prospectus), the Insiders agree to automatically surrender to the
Company for no consideration, for cancellation at no cost, an aggregate number of Founder Shares so that the number of Founder Shares
will equal 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time. The Insiders further agree
that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a share capitalization or
a share repurchase, as applicable, with respect to the Founder Shares immediately prior to the consummation of the Public Offering in
such amount as to maintain the number of Founder Shares at 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding
at such time.

 

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

 

13.          Assignment.
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 parties. 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, each of
the Insiders and each of their respective successors, heirs, personal representatives and assigns and permitted transferees.

 

14.          Counterparts.
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.

 

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

 

16.          Severability.
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.

 

17.          Governing
Law. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
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.

 

18.          Notices. 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 transmission.

 

[Signature Page Follows]

 

    6 

     

    

 

	 	Sincerely,
	 	 
	 	ESGEN LLC
	 	 	 
	 	By:	 
	 	Name:	 
	 	
    Title: 
	 

 

	 	INSIDERS
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

[Signature Page to Insider Letter Agreement]

 

     

     

    

 

Acknowledged and Agreed:

 

	ESGEN ACQUISITION CORPORATION	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

[Signature Page to Insider Letter Agreement]

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