Document:

Exhibit 10.1

 

SOLID POWER, INC.

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement (this “Agreement”)
is dated as of [insert date], and is between Solid Power, Inc., a Delaware corporation (the “Company”),
and [insert name of indemnitee] (“Indemnitee”).

 

RECITALS

 

A.            Indemnitee’s
service to the Company substantially benefits the Company.

 

B.            Individuals
are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are provided with adequate
protection through insurance or indemnification against the risks of claims and actions against them arising out of such service.

 

C.            Indemnitee
does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance as adequate
under the present circumstances, and Indemnitee may not be willing to serve as a director or officer without additional protection.

 

D.            In
order to induce Indemnitee to continue to provide services to the Company, it is reasonable, prudent and necessary for the Company to
contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law.

 

E.            This
Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s certificate of incorporation and
bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall this Agreement
be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder.

 

The parties therefore agree as follows:

 

1.            Definitions.

 

(a)            A
 “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

(i)            Acquisition
of Stock by Third Party. Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or indirectly, of
securities of the Company representing 15% or more of the combined voting power of the Company’s then outstanding securities;

 

(ii)            Change
in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors (other than
a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 1(a)(i),
1(a)(iii) or 1(a)(iv)) whose election by the board of directors or nomination for election by the Company’s stockholders was
approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period
or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the
members of the Company’s board of directors;

 

     

     

    

 

(iii)            Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to
represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the
combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and
with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

 

(iv)            Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets; and

 

(v)            Other
Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended,
whether or not the Company is then subject to such reporting requirement.

 

For purposes of this Section 1(a), the following
terms shall have the following meanings:

 

(1)            “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended; provided,
however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under
an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the Company.

 

(2)            “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as amended;
provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason of (i) the
stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors
approving a sale of securities by the Company to such Person.

 

(b)            “Corporate
Status” describes the status of a person who is or was a director, trustee, general partner, managing member, officer,
employee, agent or fiduciary of the Company or any other Enterprise.

 

(c)            “DGCL”
means the General Corporation Law of the State of Delaware.

 

(d)            “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(e)            “Enterprise”
means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other
enterprise of which Indemnitee is or was serving at the request of the Company (or any of its subsidiaries) as a director, trustee, general
partner, managing member, officer, employee, agent or fiduciary.

 

(f)            “Expenses”
include all reasonable and actually incurred attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and
all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute
or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also include (i) Expenses
incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other
costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, and (ii) for purposes of Section 12(c),
Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this
Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company. Expenses, however,
shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

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(g)            “Independent
Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation law and
neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material
to either such party (other than as Independent Counsel with respect to matters concerning Indemnitee under this Agreement, or other
indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(h)            “Proceeding”
means any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal,
administrative or investigative nature, including any appeal therefrom and including without limitation any such Proceeding pending as
of the date of this Agreement, in which Indemnitee was, is or will be involved as a party, a potential party, a non-party witness or
otherwise by reason of (i) the fact that Indemnitee is or was a director or officer of the Company, (ii) any action taken by
Indemnitee or any action or inaction on Indemnitee’s part while acting as a director or officer of the Company, or (iii) the
fact that he or she is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer,
employee, agent or fiduciary of the Company or any other Enterprise, in each case whether or not serving in such capacity at the time
any liability or Expense is incurred for which indemnification or advancement of expenses can be provided under this Agreement.

 

(i)            Reference
to “other enterprises” shall include employee benefit plans; references to “fines”
shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at
the request of the Company” shall include any service as a director, officer, employee or agent of the Company that imposes
duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants
or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests of the
participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the
best interests of the Company” as referred to in this Agreement.

 

2.            Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2 if Indemnitee
is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company
to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified to the fullest extent permitted
by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee
or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and
in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal
action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

 

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3.            Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions of this
Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the
Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent
permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3
in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable
to the Company, unless and only to the extent that the Delaware Court of Chancery or any court in which the Proceeding was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee
is fairly and reasonably entitled to indemnification for such expenses as the Delaware Court of Chancery or such other court shall deem
proper.

 

4.            Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to or a participant in and is
successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.
For purposes of this section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

 

5.            Indemnification
for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

6.            Additional
Indemnification.

 

(a)            Notwithstanding
any limitation in Sections 2, 3 or 4, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if
Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right
of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and
reasonably incurred by Indemnitee or on his or her behalf in connection with the Proceeding or any claim, issue or matter therein.

 

(b)            For
purposes of Section 6(a), the meaning of the phrase “to the fullest extent permitted by applicable law”
shall include, but not be limited to:

 

(i)            the
fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the
corresponding provision of any amendment to or replacement of the DGCL; and

 

(ii)            the
fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that
increase the extent to which a corporation may indemnify its officers and directors.

 

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7.            Exclusions.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in
connection with any Proceeding (or any part of any Proceeding):

 

(a)            for
which payment has actually been made to or on behalf of Indemnitee under any statute, insurance policy, indemnity provision, vote or
otherwise, except with respect to any excess beyond the amount paid;

 

(b)            for
an accounting or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar
provisions of federal, state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement
arrangements);

 

(c)            for
any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized
by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended
(including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley
Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor
(including pursuant to any settlement arrangements);

 

(d)            initiated
by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors,
officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding (or
the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law, (iii) otherwise authorized in Section 12(c) or (iv) otherwise
required by applicable law; or

 

(e)            if
prohibited by applicable law.

 

8.            Advances
of Expenses. The Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding prior to its final disposition,
and such advancement shall be made as soon as reasonably practicable, but in any event no later than 90 days, after the receipt by the
Company of a written statement or statements requesting such advances from time to time (which shall include invoices received by Indemnitee
in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed
or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice).
Advances shall be unsecured and interest free and made without regard to Indemnitee’s ability to repay such advances. Indemnitee
hereby undertakes to repay any advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified
by the Company. This Section 8 shall not apply to the extent advancement is prohibited by law and shall not apply to any Proceeding
(or any part of any Proceeding) for which indemnity is not permitted under this Agreement, but shall apply to any Proceeding (or any
part of any Proceeding) referenced in Section 7(b) or 7(c) prior to a determination that Indemnitee is not entitled to
be indemnified by the Company.

 

9.            Procedures
for Notification and Defense of Claim.

 

(a)            Indemnitee
shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of
Expenses as soon as reasonably practicable following the receipt by Indemnitee of notice thereof. The written notification to the Company
shall include, in reasonable detail, a description of the nature of the Proceeding and the facts underlying the Proceeding. The failure
by Indemnitee to notify the Company will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise
than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights, except
to the extent that such failure or delay materially prejudices the Company.

 

(b)            If,
at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’
liability insurance in effect that may be applicable to the Proceeding, the Company shall give prompt notice of the commencement of the
Proceeding to the insurers in accordance with the procedures set forth in the applicable policies. The Company shall thereafter take
all commercially-reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding
in accordance with the terms of such policies.

 

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(c)            In
the event the Company may be obligated to make any indemnity in connection with a Proceeding, the Company shall be entitled to assume
the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, conditioned or
delayed, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such
counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee for any fees or
expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s assumption
of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of Indemnitee’s separate counsel
to the extent (i) the employment of separate counsel by Indemnitee is authorized by the Company, (ii) counsel for the Company
or Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct
of any such defense such that Indemnitee needs to be separately represented, (iii) the Company is not financially or legally able
to perform its indemnification obligations or (iv) the Company shall not have retained, or shall not continue to retain, counsel
to defend such Proceeding. The Company shall have the right to conduct such defense as it sees fit in its reasonable discretion. Regardless
of any provision in this Agreement, Indemnitee shall have the right to employ counsel in any Proceeding at Indemnitee’s personal
expense. The Company shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the
right of the Company.

 

(d)            Indemnitee
shall give the Company such information and cooperation in connection with the Proceeding as may be reasonably appropriate.

 

(e)            The
Company shall not be liable to indemnify Indemnitee for any settlement of any Proceeding (or any part thereof) without the Company’s
prior written consent, which shall not be unreasonably withheld, conditioned or delayed.

 

(f)            The
Company shall have the right to settle any Proceeding (or any part thereof) without the consent of Indemnitee so long as the settlement
(i) does not impose any penalty or liability on Indemnitee and (ii) does not include an admission of fault, guilt or culpability
of Indemnitee.

 

10.            Procedures
upon Application for Indemnification.

 

(a)            To
obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation
and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent Indemnitee
is entitled to indemnification following the final disposition of the Proceeding. The Company shall, as soon as reasonably practicable
after receipt of such a request for indemnification, advise the board of directors that Indemnitee has requested indemnification. Any
delay in providing the request will not relieve the Company from its obligations under this Agreement, except to the extent such failure
is prejudicial.

 

(b)            Upon
written request by Indemnitee for indemnification pursuant to Section 10(a), a determination with respect to Indemnitee’s
entitlement thereto shall be made in the specific case (i) if a Change in Control shall have occurred, by Independent Counsel in
a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee; or (ii) if a Change
in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the
Company’s board of directors, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested
Directors, even though less than a quorum of the Company’s board of directors, (C) if there are no such Disinterested Directors
or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Company’s board of directors,
a copy of which shall be delivered to Indemnitee; or (D) if so directed by the Company’s board of directors, by the stockholders
of the Company. If it is determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days
after such determination. Indemnitee shall cooperate with the person, persons or entity making the determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation
or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably
necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred
by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company, to the extent
permitted by applicable law.

 

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(c)            In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b), the
Independent Counsel shall be selected as provided in this Section 10(c). If a Change in Control shall not have occurred, the Independent
Counsel shall be selected by the Company’s board of directors, and the Company shall give written notice to Indemnitee advising
him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel
shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Company’s board of directors,
in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity
of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten days after
such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection
to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel
so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the
objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so
selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected
may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without
merit. If, within 20 days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 10(a) hereof
and (ii) the final disposition of the Proceeding, the parties have not agreed upon an Independent Counsel, either the Company or
Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or
Indemnitee to the other’s selection of Independent Counsel and for the appointment as Independent Counsel of a person selected
by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved
or the person so appointed shall act as Independent Counsel under Section 10(b) hereof. Upon the due commencement of any judicial
proceeding pursuant to Section 12(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further
responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

(d)            The
Company agrees to pay the reasonable fees and expenses of any Independent Counsel and to fully indemnify such counsel against any and
all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

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11.            Presumptions
and Effect of Certain Proceedings.

 

(a)            The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea
of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself create a
presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to
the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his
or her conduct was unlawful.

 

(b)            For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith to the extent Indemnitee relied
in good faith on (i) the records or books of account of the Enterprise, including financial statements, (ii) information supplied
to Indemnitee by the officers of the Enterprise in the course of their duties, (iii) the advice of legal counsel for the Enterprise
or its board of directors or counsel selected by any committee of the board of directors or (iv) information or records given or
reports made to the Enterprise by an independent certified public accountant, an appraiser, investment banker or other expert selected
with reasonable care by the Enterprise or its board of directors or any committee of the board of directors. The provisions of this Section 11(b) shall
not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable
standard of conduct set forth in this Agreement.

 

(c)            Neither
the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Enterprise shall be imputed to Indemnitee
for purposes of determining the right to indemnification under this Agreement.

 

12.            Remedies
of Indemnitee.

 

(a)            Subject
to Section 12(d), in the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8
or 12(c) of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10
of this Agreement within 90 days after the later of the receipt by the Company of the request for indemnification or the final disposition
of the Proceeding, (iv) payment of indemnification pursuant to this Agreement is not made (A) within ten days after a determination
has been made that Indemnitee is entitled to indemnification or (B) with respect to indemnification pursuant to Sections 4,
5 and 12(c) of this Agreement, within 30 days after receipt by the Company of a written request therefor, or (v) the Company
or any other person or entity takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any
litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be
provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of competent jurisdiction of his or
her entitlement to such indemnification or advancement of Expenses. Indemnitee shall commence such proceeding seeking an adjudication
within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a);
provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce his or
her rights under Section 4 of this Agreement. The Company shall not oppose Indemnitee’s right to seek any such adjudication
in accordance with this Agreement.

 

(b)            Neither
(i) the failure of the Company, its board of directors, any committee or subgroup of the board of directors, Independent Counsel
or stockholders to have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has
met the applicable standard of conduct, nor (ii) an actual determination by the Company, its board of directors, any committee or
subgroup of the board of directors, Independent Counsel or stockholders that Indemnitee has not met the applicable standard of conduct,
shall create a presumption that Indemnitee has or has not met the applicable standard of conduct. In the event that a determination shall
have been made pursuant to Section 10 of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding
commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, on the merits, and Indemnitee
shall not be prejudiced by reason of that adverse determination. In any judicial proceeding commenced pursuant to this Section 12,
the Company shall, to the fullest extent not prohibited by law, have the burden of proving Indemnitee is not entitled to indemnification
or advancement of Expenses, as the case may be.

 

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(c)            To
the extent not prohibited by law, the Company shall indemnify Indemnitee against all Expenses that are incurred by Indemnitee in connection
with any action for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company to the extent Indemnitee is successful in such action, and, if
requested by Indemnitee, shall (as soon as reasonably practicable, but in any event no later than 90 days, after receipt by the Company
of a written request therefor) advance such Expenses to Indemnitee, subject to the provisions of Section 8.

 

(d)            Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification shall be required to be made prior
to the final disposition of the Proceeding.

 

13.            Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee,
the Company, in lieu of indemnifying Indemnitee, shall contribute to the amounts incurred by Indemnitee, whether for Expenses, judgments,
fines or amounts paid or to be paid in settlement, in connection with any claim relating to an indemnifiable event under this Agreement,
in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the
relative benefits received by the Company and Indemnitee as a result of the events and transactions giving rise to such Proceeding; and
(ii) the relative fault of Indemnitee and the Company (and its other directors, officers, employees and agents) in connection with
such events and transactions.

 

14.            Non-exclusivity.
The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the Company’s certificate of incorporation
or bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. To the extent that a change in Delaware
law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently
under the Company’s certificate of incorporation and bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee
shall enjoy by this Agreement the greater benefits so afforded by such change, subject to the restrictions expressly set forth herein
or therein. Except as expressly set forth herein, no right or remedy herein conferred is intended to be exclusive of any other right
or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now
or hereafter existing at law or in equity or otherwise. Except as expressly set forth herein, the assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

15.            Primary
Responsibility. The Company acknowledges that Indemnitee may have certain rights to indemnification and advancement of expenses provided
by insurers or other entities that may provide personal or enterprise level insurance policies in the name of or on behalf of Indemnitee
from time to time (collectively, the “Secondary Indemnitors”). The Company agrees that, as between the Company
and the Secondary Indemnitors, the Company is primarily responsible for amounts required1
to be indemnified or advanced under the Company’s certificate of incorporation or bylaws or this Agreement and any
obligation of the Secondary Indemnitors to provide indemnification or advancement for the same amounts is secondary to those Company
obligations. The Company waives any right of contribution or subrogation against the Secondary Indemnitors with respect to the liabilities
for which the Company is primarily responsible under this Section 15. In the event of any payment by the Secondary Indemnitors of
amounts otherwise required to be indemnified or advanced by the Company under the Company’s certificate of incorporation or bylaws
or this Agreement, the Secondary Indemnitors shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee
for indemnification or advancement of expenses under the Company’s certificate of incorporation or bylaws or this Agreement or,
to the extent such subrogation is unavailable and contribution is found to be the applicable remedy, shall have a right of contribution
with respect to the amounts paid; provided, however, that the foregoing sentence will be deemed void if and to the extent that
it would violate any applicable insurance policy. The Secondary Indemnitors are an express third-party beneficiaries of the terms of
this Section 15.

 

    -9- 

     

    

 

16.            No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable
hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received payment
for such amounts under any insurance policy, contract, agreement or otherwise.

 

17.            Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, trustees, general
partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee shall
be covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies in a comparable
position.

 

18.            Subrogation.
In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution
of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

19.            Services
to the Company. Indemnitee agrees to serve as a director or officer of the Company or, at the request of the Company, as a director,
trustee, general partner, managing member, officer, employee, agent or fiduciary of another Enterprise, for so long as Indemnitee is
duly elected or appointed or until Indemnitee tenders his or her resignation or is removed from such position. Indemnitee may at any
time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation
of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position. This Agreement
shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. Indemnitee
specifically acknowledges that any employment with the Company (or any of its subsidiaries or any Enterprise) is at will, and Indemnitee
may be discharged at any time for any reason, with or without cause, with or without notice, except as may be otherwise expressly provided
in any executed, written employment contract between Indemnitee and the Company (or any of its subsidiaries or any Enterprise), any existing
formal severance policies adopted by the Company’s board of directors or, with respect to service as a director or officer of the
Company, the Company’s certificate of incorporation or bylaws or the DGCL. No such document shall be subject to any oral modification
thereof.

 

20.            Duration.
This Agreement shall continue until and terminate upon the later of (a) ten years after the date that Indemnitee shall have
ceased to serve as a director or officer of the Company or as a director, trustee, general partner, managing member, officer, employee,
agent or fiduciary of any other Enterprise, as applicable; or (b) one year after the final termination of any Proceeding, including
any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and
of any proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement relating thereto.

 

    -10- 

     

    

 

21.            Successors.
This Agreement shall be binding upon the Company and its successors and assigns, including any direct or indirect successor, by purchase,
merger, consolidation or otherwise, to all or substantially all of the business or assets of the Company, and shall inure to the benefit
of Indemnitee and Indemnitee’s heirs, executors and administrators.

 

22.            Severability.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation
of applicable law. The Company’s inability, pursuant to court order or other applicable law, to perform its obligations under this
Agreement shall not constitute a breach of this Agreement. If any provision or provisions of this Agreement shall be held to be invalid,
illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of
this Agreement (including without limitation, each portion of any section of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby and shall remain enforceable to the fullest extent permitted by law; (ii) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (iii) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall
be construed so as to give effect to the intent manifested thereby.

 

23.            Enforcement.
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying
upon this Agreement in serving as a director or officer of the Company.

 

24.            Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject
matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s certificate
of incorporation and bylaws and applicable law.

 

25.            Modification
and Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing by the parties
hereto. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Indemnitee under this Agreement in respect
of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal. No waiver
of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other provision of this Agreement nor shall
any waiver constitute a continuing waiver.

 

26.            Notices.
All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified
mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand, messenger or courier service addressed:

 

(a)            if
to Indemnitee, to Indemnitee’s address, facsimile number or electronic mail address as shown on the signature page of this
Agreement or in the Company’s records, as may be updated in accordance with the provisions hereof; or

 

(b)            if
to the Company, to the attention of the Chief Executive Officer or Chief Financial Officer of the Company at 486 S. Pierce Avenue, Suite E,
Louisville, CO 80027, or at such other current address as the Company shall have furnished to Indemnitee, with a copy (which shall not
constitute notice) to Mark Baudler, Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, CA 94304.

 

    -11- 

     

    

 

Each such notice or other communication shall
for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service,
when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day
delivery, one business day after deposit with the courier), (ii) if sent via mail, at the earlier of its receipt or five
days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and
mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation of facsimile transfer or, if sent via electronic
mail, upon confirmation of delivery when directed to the relevant electronic mail address, if sent during normal business hours of the
recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day.

 

27.            Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement
shall be brought only in the Delaware Court of Chancery, and not in any other state or federal court in the United States of America
or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court of Chancery for purposes
of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not
otherwise subject to service of process in the State of Delaware, The Corporation Trust Company, 1209 Orange Street, in the City of Wilmington,
County of New Castle, Delaware 19801, as its agent in the State of Delaware as such party’s agent for acceptance of legal process
in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party
personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the
Delaware Court of Chancery, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought
in the Delaware Court of Chancery has been brought in an improper or inconvenient forum.

 

28.            Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature
and in counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one
and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence
the existence of this Agreement.

 

29.            Captions.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

(signature page follows)

 

    -12- 

     

    

 

The parties are signing this Indemnification Agreement
as of the date stated in the introductory sentence.

 

	 	SOLID POWER, INC.

 

 

	 	(Signature)

 

 

	 	(Print name)

 

 

	 	(Title)

 

	 	[INSERT INDEMNITEE NAME]

 

 

	 	(Signature)

 

 

	 	(Print name)

 

 

	 	(Street address)

 

 

	 	(City, State and ZIP)Exhibit 10.2

 

Execution

 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of December 8, 2021,
is made and entered into by and among Decarbonization Plus Acquisition Corporation III, a Delaware corporation (the “Company”),
Decarbonization Plus Acquisition Sponsor III LLC, a Delaware limited liability company (the “Sponsor”), and
the undersigned parties listed under Holder on the signature pages hereto (each such party, together with the Sponsor and any person
or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder”
and collectively, the “Holders”).

 

RECITALS

 

WHEREAS,
on March 23, 2021, the Company, the Sponsor and certain other security holders named therein (the “Existing Holders”)
entered into that certain Registration Rights Agreement (the “Existing Registration Rights Agreement”), pursuant
to which the Company granted the Sponsor and such other Existing Holders certain registration rights with respect to certain securities
of the Company;

 

WHEREAS,
on June 15, 2021, the Company, DCRC Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger
Sub”), and Solid Power, Inc., a Colorado corporation (“Solid Power”), entered into that certain
Business Combination Agreement and Plan of Reorganization (as amended, the “BCA”), pursuant to which, among
other things, Merger Sub will merge with and into Solid Power on or about the date hereof, with Solid Power surviving the merger as a
wholly owned subsidiary of the Company (the “Business Combination”);

 

WHEREAS,
after the closing of the Business Combination, the Holders will own shares of the Company’s common stock, par value $0.0001 per
share (the “Common Stock”), and the Sponsor, James AC McDermott, Jeffrey Tepper, Dr. Jennifer Aaker, and
Jane Kearns will own warrants to purchase an aggregate of 6,666,667 shares of Common Stock (the “Private Placement Warrants”);
and

 

WHEREAS,
the Company and the Existing Holders desire to amend and restate the Existing Registration Rights Agreement, pursuant to which the Company
shall grant the Holders certain registration rights with respect to certain securities of the Company, as set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby
agree as follows:

 

ARTICLE I

DEFINITIONS

 

1.1.            Definitions.
The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Agreement” shall have
the meaning given in the Preamble.

 

“BCA” shall have the
meaning given in the Recitals hereto.

 

“Block Trade” shall have
the meaning given to it in subsection 2.3.1.

 

“Board” shall mean the
board of directors of the Company.

 

“Business Combination”
shall have the meaning given in the Recitals hereto.

 

“Commission” shall mean
the Securities and Exchange Commission.

 

“Common Stock” shall
have the meaning given in the Recitals hereto.

 

     

     

    

 

“Company” shall have
the meaning given in the Preamble.

 

“Demanding Holder” shall
mean any Holder or group of Holders that together elects to dispose of Registrable Securities having an aggregate value of at least $50
million, at the time of the Underwritten Demand, under a Registration Statement pursuant to an Underwritten Offering.

 

“Effectiveness Period”
shall have the meaning given in subsection 3.1.1 of this Agreement.

 

“Exchange Act” shall
mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Existing Holders” shall
have the meaning given in the Recitals hereto.

 

“Existing Registration Rights Agreement”
shall have the meaning given in the Recitals hereto.

 

“Financial Counterparty”
shall have the meaning given in subsection 2.3.1 of this Agreement.

 

“Holder Indemnified Persons”
shall have the meaning given in subsection 4.1.1 of this Agreement.

 

“Holders” shall have
the meaning given in the Preamble.

 

“Solid Power” shall have
the meaning given in the Recitals hereto.

 

“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.3 of this Agreement.

 

“Minimum
Amount” shall have the meaning given in subsection 2.4 of this Agreement.

 

“Merger Sub” shall have
the meaning given in the Recitals hereto.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances
under which they were made) not misleading.

 

“Other Coordinated
Offering” shall have the meaning given to it in subsection 2.3.1.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.2.1 of this Agreement.

 

“Private Placement Warrants”
shall have the meaning given in the Recitals hereto.

 

“Pro Rata” shall have
the meaning given in subsection 2.1.3 of this Agreement.

 

“Prospectus” shall mean
the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and
all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security”
shall mean (a) the Private Placement Warrants (including any shares of Common Stock issued or issuable upon the exercise of any such
Private Placement Warrants), (b) any outstanding shares of Common Stock held by a Holder (including any shares of Common Stock issued
or issuable upon exercise of any other outstanding equity securities of the Company (other than equity securities issued pursuant to an
employee stock option or other benefit plan)), (c) any equity securities (including the shares of Common Stock issued or issuable
upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans in an amount up to
$1,500,000 made to the Company by a Holder and (d) any other equity security of the Company issued or issuable with respect to any
such shares of Common Stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or reorganization; provided, however, that, as to any particular Registrable Securities, such securities
shall cease to be Registrable Securities when: (A) a Registration Statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance
with such Registration Statement; (B) such securities shall have been otherwise transferred, new certificates for such securities
not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such
securities shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; or (D) such
securities may be sold without registration pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated
thereafter by the Commission) (but without limitation as to the manner of sale or the amount of such securities that may be sold and without
the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(i) or Rule 144(i)(2)).

 

    2

     

    

 

“Registration” shall
mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and any such registration statement having
been declared effective by, or become effective pursuant to rules promulgated by, the Commission.

 

“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A)            all
registration and filing fees (including fees with respect to filings required to be made with the Commission, the Financial Industry Regulatory
Authority and any securities exchange on which the Common Stock is then listed);

 

(B)            fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters
in connection with blue sky qualifications of Registrable Securities);

 

(C)            printing,
messenger, telephone and delivery expenses;

 

(D)            fees
and disbursements of counsel for the Company;

 

(E)            fees
and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration;
and

 

(F)            reasonable
fees and expenses of one (1) legal counsel selected by the majority-in-interest of Registrable Securities held by the Demanding Holders
initiating an Underwritten Demand to be registered for offer and sale in the applicable Underwritten Offering, not to exceed $50,000 with
respect to any one Underwritten Offering.

 

“Registration Statement”
shall mean any registration statement under the Securities Act that covers the Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements
to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder” shall
have the meaning given in subsection 2.1.2 of this Agreement.

 

“Securities Act” shall
mean the Securities Act of 1933, as amended from time to time.

 

“Shelf Registration”
shall have the meaning given in subsection 2.1.1.

 

“Sponsor” shall have
the meaning given in the Preamble.

 

“Suspension Event” shall
have the meaning given in Section 3.4 of this Agreement.

 

“Underwriter” shall mean
a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer’s
market-making activities.

 

    3

     

    

 

“Underwritten Demand”
shall have the meaning given in subsection 2.1.2 of this Agreement.

 

“Underwritten Offering”
shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution
to the public.

 

ARTICLE II

REGISTRATIONS

 

2.1.            Registration.

 

2.1.1            Shelf
Registration. (a) The Company agrees that, within thirty (30) days after the consummation of the Business Combination, the Company
will file with the Commission (at the Company’s sole cost and expense) a Registration Statement (a “Shelf Registration
Statement”) registering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to
Rule 415 of the Securities Act from time to time by the Holders of all the Registrable Securities held by the Holders (a “Shelf
Registration”).

 

(b)            The
Company shall use its commercially reasonable efforts to cause such Shelf Registration Statement to become effective by the Commission
as soon as reasonably practicable after the initial filing of the Registration Statement. Subject to the limitations contained in this
Agreement, the Company shall effect any Shelf Registration on such appropriate registration form of the Commission (i) as shall be
selected by the Company and (ii) as shall permit the resale or other disposition of the Registrable Securities by the Holders. If
at any time a Registration Statement filed with the Commission pursuant to subsection 2.1.1 is effective and a Holder provides
written notice to the Company that it intends to effect an offering of all or part of the Registrable Securities included on such Registration
Statement, the Company will use its commercially reasonable efforts to amend or supplement such Registration Statement as may be necessary
in order to enable such offering to take place in accordance with the terms of this Agreement.

 

2.1.2            Underwritten
Offering. Subject to the provisions of subsection 2.1.3 and Sections 2.4, 2.5 and 3.4 of this Agreement,
any Demanding Holder may make a written demand to the Company for an Underwritten Offering pursuant to a Registration Statement filed
with the Commission in accordance with Section 2.1.1 of this Agreement (an “Underwritten Demand”).
The Company shall, within ten (10) days of the Company’s receipt of the Underwritten Demand, notify, in writing, all other
Holders of such demand, and each Holder who thereafter wishes to include all or a portion of such Holder’s Registrable Securities
in such Underwritten Offering pursuant to an Underwritten Demand (each such Holder that includes all or a portion of such Holder’s
Registrable Securities in such Underwritten Offering, a “Requesting Holder”) shall so notify the Company, in
writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any
such written notification from a Requesting Holder(s), such Requesting Holder(s) shall be entitled to have their Registrable Securities
included in the Underwritten Offering pursuant to an Underwritten Demand. All such Holders proposing to distribute their Registrable Securities
through an Underwritten Offering under this subsection 2.1.2 shall enter into an underwriting agreement in customary form
with the Underwriter(s) selected for such Underwritten Offering by the Company in consultation with the Demanding Holders initiating
the Underwritten Offering.

 

2.1.3            Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Offering pursuant to an Underwritten Demand,
in good faith, advises or advise the Company, the Demanding Holders, and the Requesting Holders in writing that the dollar amount or number
of Registrable Securities or other equity securities of the Company requested to be included in such Underwritten Offering exceeds the
maximum dollar amount or maximum number of equity securities of the Company that can be sold in the Underwritten Offering without adversely
affecting the proposed offering price, the timing, the distribution method or the probability of success of such offering (such maximum
dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then
the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders
and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and
Requesting Holder (if any) has requested be included in such Underwritten Offering (such proportion is referred to herein as “Pro
Rata”)) that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (i), Common Stock or other equity securities of the Company
that the Company desires to sell and that can be sold without exceeding the Maximum Number of Securities; and (iii) third, to the
extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii),
Common Stock or other equity securities of the Company held by other persons or entities that the Company is obligated to include pursuant
to separate written contractual arrangements with such persons or entities and that can be sold without exceeding the Maximum Number of
Securities.

 

    4

     

    

 

2.1.4            Registration
Withdrawal. The Demanding Holders initiating an Underwritten Offering pursuant to subsection 2.1.2 of this Agreement shall
have the right to withdraw from such Underwritten Offering for any or no reason whatsoever upon written notification to the Company of
their intention to withdraw from such Underwritten Offering prior to the launch of such Underwritten Offering; provided, however,
that upon the withdrawal of an amount of Registrable Securities that results in the remaining amount of Registrable Securities included
by the Demanding Holders and participating Holders in such Underwritten Offering being less than the Minimum Amount, the Company
may cease all efforts to complete the Underwritten Offering and, for the avoidance of doubt, if such efforts are ceased, such Underwritten
Offering shall not be counted as an Underwritten Offering for the purpose of the final sentence of subsection 2.1.2. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with
an Underwritten Demand prior to its withdrawal under this subsection 2.1.4.

 

2.2.            Piggyback
Registration.

 

2.2.1            Piggyback
Rights. If the Company proposes to (i) file a Registration Statement under the Securities Act with respect to an offering of
equity securities of the Company, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities
of the Company, for its own account or for the account of stockholders of the Company, other than a Registration Statement (A) filed
in connection with any employee stock option or other benefit plan, (B) pursuant to a Registration Statement on Form S-4 (or
similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (C) for
an exchange offer or offering of securities solely to the Company’s existing stockholders, (D) for an offering solely of debt
that is convertible into equity securities of the Company or (E) for a dividend reinvestment plan, or (ii) consummate an Underwritten
Offering for its own account or for the account of stockholders of the Company (other than pursuant to the terms of this Agreement), then
the Company shall give written notice of such proposed action to the Holders of at least $25 million of Registrable Securities as soon
as practicable (but in the case of filing a Registration Statement, not less than ten (10) days before the anticipated filing date
of such Registration Statement), which notice shall (x) describe the amount and type of securities to be included, the intended method(s) of
distribution and the name of the proposed managing Underwriter or Underwriters, if any, and (y) offer to all of the Holders of Registrable
Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may request in writing within
(a) five (5) days in the case of filing a Registration Statement and (b) two (2) days in the case of an Underwritten
Offering (unless such offering is an overnight or bought Underwritten Offering, then one (1) day), in each case after receipt of
such written notice (such Registration, a “Piggyback Registration”). The Company shall, in good faith, cause
such Registrable Securities to be included in such Piggyback Registration and shall use its commercially reasonable efforts to cause the
managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders
pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar
securities of the Company included in such Piggyback Registration and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. If no written request for inclusion from a Holder is received
within the specified time, each such Holder shall have no further right to participate in such Piggyback Registration. All such
Holders proposing to include Registrable Securities in an Underwritten Offering under this subsection 2.2.1 shall enter into
an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

    5

     

    

 

2.2.2            Reduction
of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback Registration,
in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration that the dollar
amount or number of shares of the equity securities of the Company that the Company desires to sell, taken together with (i) the
shares of equity securities of the Company, if any, as to which Registration or Underwritten Offering has been demanded pursuant to separate
written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable
Securities as to which Registration or Underwritten Offering has been requested pursuant to Section 2.2 of this Agreement
and (iii) the shares of equity securities of the Company, if any, as to which Registration or Underwritten Offering has been requested
pursuant to separate written contractual piggyback registration rights of other stockholders of the Company, exceeds the Maximum Number
of Securities, then:

 

(a)            If
the Registration or Underwritten Offering is undertaken for the Company’s account, the Company shall include in any such Registration
or Underwritten Offering (A) first, the Common Stock or other equity securities of the Company that the Company desires to sell,
which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register
their Registrable Securities pursuant to subsection 2.2.1 of this Agreement, Pro Rata, which can be sold without exceeding
the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clauses (A) and (B), Common Stock or other equity securities of the Company, if any, as to which
Registration or Underwritten Offering has been requested pursuant to written contractual piggyback registration rights of other stockholders
of the Company, which can be sold without exceeding the Maximum Number of Securities; or

 

(b)            If
the Registration or Underwritten Offering is pursuant to a request by persons or entities other than the Holders of Registrable Securities,
then the Company shall include in any such Registration or Underwritten Offering (A) first, Common Stock or other equity securities
of the Company, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without
exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable
Securities pursuant to subsection 2.2.1 of this Agreement, Pro Rata, which can be sold without exceeding the Maximum Number
of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B),
Common Stock or other equity securities of the Company that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (A), (B) and (C), Common Stock or other equity securities of the Company for the account
of other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such
persons or entities, which can be sold without exceeding the Maximum Number of Securities.

 

2.2.3            Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention
to withdraw from such Piggyback Registration prior to, as applicable, the effectiveness of the Registration Statement filed with the Commission
with respect to such Piggyback Registration or the launch of the Underwritten Offering with respect to such Piggyback Registration. The
Company (whether on its own good faith determination or as the result of a request for withdrawal by persons or entities pursuant to separate
written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration
at any time prior to the effectiveness of such Registration Statement or abandon an Underwritten Offering in connection with a Piggyback
Registration at any time prior to the launch of such Underwritten Offering. Notwithstanding anything to the contrary in this Agreement,
the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal
under this subsection 2.2.3.

 

2.2.4            Unlimited
Piggyback Registration Rights. For purposes of clarity, any Registration or Underwritten Offering effected pursuant to Section 2.2
of this Agreement shall not be counted as an Underwritten Offering pursuant to an Underwritten Demand effected under Section 2.1
of this Agreement.

 

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2.3            Block
Trades Other Coordinated Offerings.

 

2.3.1            Notwithstanding
any other provision of this Article II, but subject to Sections 2.4, 2.5 and 3.4, at any time and from time to time
when an effective Registration Statement is on file with the Commission, if a Demanding Holder wishes to engage in (a) an underwritten
registered offering not involving a “roadshow,” an offer commonly known as a “block trade” (a “Block
Trade”) or (b) an “at the market” or similar registered offering through a broker, sales agent or distribution
agent, whether as agent or principal, (an “Other Coordinated Offering”), in each case, with a total offering
price reasonably expected to exceed, in the aggregate, $25 million, then if such Demanding Holder requires any assistance from the Company
pursuant to this Section 2.3, such Holder shall notify the Company promptly of the Block Trade or Other Coordinated Offering
at least five (5) business days prior to the day such offering is to commence and the Company shall use its commercially reasonable
efforts to facilitate such Block Trade or Other Coordinated Offering; provided that the Demanding Holders representing a majority
of the Registrable Securities wishing to engage in the Block Trade or Other Coordinated Offering shall use commercially reasonable efforts
to work with the Company and any Underwriters or brokers, sales agents or placement agents (each, a “Financial Counterparty”)
prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering documentation
related to the Block Trade or Other Coordinated Offering.

 

2.3.2            Prior
to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade or
Other Coordinated Offering, a majority-in interest of the Demanding Holders initiating such Block Trade or Other Coordinated Offering
shall have the right to withdraw from such Block Trade or Other Coordinated Offering for any or no reason whatsoever upon written notification
to the Company, the Underwriter or Underwriters (if any) and Financial Counterparty (if any) of their intention to withdraw from such
Block Trade or Other Coordinated Offering. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible
for the Registration Expenses incurred in connection with a Block Trade or Other Coordinated Offering prior to its withdrawal under this
subsection 2.3.2.

 

2.3.3            Notwithstanding
anything to the contrary in this Agreement, Section 2.2 shall not apply to a Block Trade or Other Coordinated Offering initiated
by a Demanding Holder pursuant to Section 2.3 of this Agreement.

 

2.3.4            The
Demanding Holder in a Block Trade or Other Coordinated Offering shall have the right to select the Underwriters and Financial Counterparty
(if any) for such Block Trade or Other Coordinated Offering (in each case, which shall consist of one or more reputable nationally recognized
investment banks).

 

2.4            Total
Demanded Transactions. Notwithstanding the foregoing, the Company is not obligated to effect (i) more than an aggregate of three
(3) Underwritten Offerings, Block Trades and Other Coordinated Offerings in any twelve (12)-month period, (ii) more than an
aggregate of five (5) Underwritten Offerings, Block Trades and Other Coordinated Offerings in total, (iii) any Underwritten
Offering, Block Trade or Other Coordinated Offerings within six (6) months after the closing of an Underwritten Offering or (iv) an
Underwritten Offering unless the reasonably expected aggregate gross proceeds from the offering of the Registrable Securities to be registered
in connection with such Underwritten Offering are at least $75,000,000 (the “Minimum Amount”). For the avoidance
of doubt, any Block Trade or Other Coordinated Offering effected pursuant to Section 2.3 shall not be counted as a demand
for an Underwritten Offering pursuant to subsection 2.1.2 and any demand for an Underwritten Offering pursuant to subsection 2.1.2
shall not be counted as a Block Trade or Other Coordinated Offering pursuant to Section 2.3.

 

2.5            Restrictions
on Registration Rights. If (A) the Holders have requested an Underwritten Offering pursuant to an Underwritten Demand and the
Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; (B) the filing, initial
effectiveness, or continued use of a Registration Statement in respect of such Underwritten Offering at any time would require the inclusion
in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control;
or (C) the Holders have requested an Underwritten Offering pursuant to an Underwritten Demand and in the good faith judgment of the
Board that such Underwritten Offering would be seriously detrimental to the Company and the Board concludes as a result to defer the filing
of such Registration Statement or the undertaking of such Underwritten Offering at such time, then in each case the Company shall notify
such Holders that such circumstances exist. In such event, the Company shall have the right to defer such filing or offering for a period
of not more than sixty (60) consecutive days; provided, however, that the Company shall not defer its obligation in this manner more than
ninety (90) days in any twelve (12)-month period.

 

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ARTICLE III

COMPANY PROCEDURES

 

3.1.            General
Procedures. The Company shall use its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable
Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, to the extent applicable,
as promptly as reasonably practicable:

 

3.1.1            prepare
and file with the Commission, within the time frame required by Section 2.1.1, a Registration Statement with respect to such
Registrable Securities and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain
effective, including filing a replacement Registration Statement, if necessary, until there are no longer any Registrable Securities outstanding
(such period, the “Effectiveness Period”);

 

3.1.2            prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be reasonably requested by the Demanding Holders or any Underwriter or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance
with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus or are no longer outstanding;

 

3.1.3            prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters or
Financial Counterparty, if any, and the Holders of Registrable Securities included in such Registration or Underwritten Offering or Block
Trade, and such Holders’ legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement
to such Registration Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus
(including each preliminary Prospectus) and such other documents as the Underwriters and the Holders of Registrable Securities included
in such Registration or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable
Securities owned by such Holders; provided, that the Company will not have any obligation to provide any document pursuant to this
clause that is available on the Commission’s EDGAR system;

 

3.1.4            prior
to any Registration of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the
Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

3.1.5            cause
all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities issued
by the Company are then listed;

 

3.1.6            provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of
such Registration Statement;

 

3.1.7            advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding
for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its
withdrawal if such stop order should be issued;

 

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3.1.8            during
the Effectiveness Period, furnish a conformed copy of each filing of any Registration Statement or Prospectus or any amendment or supplement
to such Registration Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement
or Prospectus, promptly after such filing of such documents with the Commission to each seller of such Registrable Securities or its counsel;
provided, that the Company will not have any obligation to provide any document pursuant to this clause that is available on the
Commission’s EDGAR system;

 

3.1.9            notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act;

 

3.1.10            in
accordance with Section 3.4 of this Agreement, notify the Holders of the happening of any event as a result of which a Misstatement
exists, and then to correct such Misstatement as set forth in Section 3.4 of this Agreement;

 

3.1.11            in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering, or sale by a Financial Counterparty pursuant to such
Registration, permit a representative of the Holders (such representative to be selected by a majority of the Holders), the Underwriters
or other Financial Counterparty facilitating such Underwritten Offering, Block Trade, Other Coordinated Offering or other sale pursuant
to such Registration, if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s
or entity’s own expense, in the preparation of the Registration Statement or the Prospectus, and cause the Company’s officers,
directors and employees to supply all customary information reasonably requested by any such representative, Underwriter, Financial Counterparty,
attorney or accountant in connection with the Registration; provided, however, that such representatives or Underwriters
or Financial Counterparty enter into confidentiality agreements in form and substance reasonably satisfactory to the Company, prior to
the release or disclosure of any such information;

 

3.1.12            obtain
a comfort letter from the Company’s independent registered public accountants in the event of an Underwritten Offering, a Block
Trade, an Other Coordinated Offering or sale by a Financial Counterparty pursuant to such Registration (subject to such Financial Counterparty
providing such certification or representation reasonably requested by the Company’s independent registered public accountants and
the Company’s counsel), in customary form and covering such matters of the type customarily covered by comfort letters as the managing
Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.13            in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a Financial Counterparty pursuant to such
Registration, on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such
date, of counsel representing the Company for the purposes of such Registration, addressed to the participating Holders or the Financial
Counterparty, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such
opinion is being given as the participating Holders, Financial Counterparty or Underwriter may reasonably request and as are customarily
included in such opinions and negative assurance letters, and reasonably satisfactory to such participating Holders, Financial Counterparty
or Underwriter;

 

3.1.14            in
the event of an Underwritten Offering or a Block Trade, or an Other Coordinated Offering or sale by a Financial Counterparty pursuant
to such Registration to which the Company has consented, to the extent reasonably requested by such Financial Counterparty in order to
engage in such offering, allow the Underwriters or Financial Counterparty to conduct customary “underwriter’s due diligence”
with respect to the Company;

 

3.1.15            in
the event of any Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a Financial Counterparty pursuant to such
Registration, enter into and perform its obligations under an underwriting agreement or other purchase or sales agreement, in usual and
customary form, with the managing Underwriter or the Financial Counterparty of such offering or sale;

 

3.1.16            make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor
rule promulgated thereafter by the Commission);

 

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3.1.17            if
the Registration involves the Registration of Registrable Securities in an Underwritten Offering in excess of the Minimum Amount,
use its reasonable efforts to make available senior executives of the Company to participate in customary “road show” presentations
that may be reasonably requested by the Underwriter in any Underwritten Offering; and

 

3.1.18            otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
with such Registration.

 

Notwithstanding
the foregoing, the Company shall not be required to provide any documents or information to an Underwriter or Financial Counterparty
if such Underwriter or Financial Counterparty has not then been named with respect to the applicable Underwritten Offering or other offering
involving a registration as an Underwriter or Financial Counterparty, as applicable.

 

3.2.            Registration
Expenses. The Registration Expenses in respect of all Registrations shall be borne by the Company. It is acknowledged by the Holders
that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3.            Requirements
for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of the Company
pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities
on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required
under the terms of such underwriting arrangements.

 

3.4            Suspension
of Sales. Notwithstanding anything to the contrary in this Agreement, the Company shall be entitled to (A) delay or postpone
the (i) initial effectiveness of any Registration Statement or (ii) launch of any Underwritten Offering, in each case, filed
or requested pursuant to this Agreement, and (B) from time to time to require the Holders not to sell under any Registration Statement
or Prospectus or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Company or its subsidiaries
is pending or an event has occurred, which negotiation, consummation or event, the Board reasonably believes, upon the advice of legal
counsel, would require additional disclosure by the Company in the applicable Registration Statement or Prospectus of material information
that the Company has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement
or Prospectus would be expected, in the reasonable determination of the Board, upon the advice of legal counsel, to cause the Registration
Statement or Prospectus to fail to comply with applicable disclosure requirements (each such circumstance, a “Suspension Event”);
provided, however, that the Company may not delay or suspend a Registration Statement, Prospectus or Underwritten Offering on more than
two occasions, for more than sixty (60) consecutive calendar days, or more than ninety (90) total calendar days, in each case during any
twelve-month period. Upon receipt of any written notice from the Company of a Suspension Event while a Registration Statement filed pursuant
to this Agreement is effective or if as a result of a Suspension Event a Misstatement exists, each Holder agrees that (i) it will
immediately discontinue offers and sales of Registered Securities under each Registration Statement filed pursuant to this Agreement until
the Holder receives copies of a supplemental or amended Prospectus (which the Company agrees to promptly prepare) that corrects the relevant
misstatements or omissions and receives notice that any post-effective amendment has become effective or unless otherwise notified by
the Company that it may resume such offers and sales provided for the avoidance of doubt, that the foregoing shall not restrict or otherwise
affect the consummation of any sale pursuant to a contract entered into or order placed by a Holder prior to receipt of notice of the
Suspension Event and (ii) it will maintain the confidentiality of information included in such written notice delivered by the Company
unless otherwise required by law or subpoena. If so directed by the Company, the Holders will deliver to the Company or, in Holders’
sole discretion destroy, all copies of each Prospectus covering Registrable Securities in Holders’ possession; provided, however,
that this obligation to deliver or destroy shall not apply (A) to the extent the Holders are required to retain a copy of such Prospectus
(x) to comply with applicable legal, regulatory, self-regulatory or professional requirements or (y) in accordance with a bona
fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as a result of automatic data
back-up.

 

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3.5            Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times, covenants to file timely (without
giving effect to any extensions pursuant to Rule 12b-25 of the Exchange Act) all reports required to be filed by the Company after
the date hereof pursuant to Section 13(a) or 15(d) of the Exchange Act. The Company further covenants that it shall use
commercially reasonable efforts to make and keep public information available, as those terms are understood and defined in Rule 144
promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) and shall take such further
action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Registrable
Securities held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144
promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal
opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer
as to whether it has complied with such requirements.

 

3.6            Legend
Removal. The Company shall cause any Common Stock issued to a Holder pursuant to the BCA that is covered for resale by an effective
registration statement with the Commission to be issued without any restrictive legends due to the fact that such Common Stock was issued
in a transaction that was not a registered offering under the Securities Act and, if requested by any Holder, cause to be delivered to
the Holder such Common Stock by crediting the account of the Holder’s prime broker with DTC through its Deposit/Withdrawal at Custodian
(DWAC) system, in each case, free from such restrictive legends and stop transfer instructions (or similar notations) and without the
requirement for any Holder to deliver any documentation affixed with a medallion guarantee. To the extent any Registrable Securities do
bear any other restrictive legend at any time, the Company shall cause such restrictive legends related to the book-entry account holding
any Holder’s Registrable Securities (or certificates related thereto) to be removed (and such Registrable Securities shall not be
subject to any stop-transfer instructions), and without the requirement for any Holder to deliver any documentation affixed with a medallion
guarantee if such Registrable Securities are registered for resale under the Securities Act (provided that, such Holder agrees that if
a Holder is selling pursuant to the effective registration statement registering the Registrable Securities for resale, it shall only
sell such Registrable Securities under such registration statement, during such time that such registration statement is effective and
not withdrawn or suspended, and only as permitted by such registration statement and such Holder provides customary documentation in support
thereof). The Company agrees that, following such time as the foregoing conditions are met, it will, no later than the earlier of (x) two
(2) Trading Days and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery by the
Holder to the Company or the transfer agent for the Registrable Securities of a book-entry account or certificate representing Registrable
Securities issued with a restrictive legend, deliver or cause the transfer agent to deliver to the Holder a book-entry account or certificate
representing such Registrable Securities or, at the request of the Holder, deliver or cause to be delivered the Registrable Securities
to the Holder by crediting the account of the Holder’s prime broker with DTC through its Deposit/Withdrawal at Custodian (DWAC)
system, in each case, free from all restrictive and other legends and stop transfer instructions (or similar notations). Each Holder shall
have the right to pursue any remedies available to it hereunder, or otherwise at law or in equity, including a decree of specific performance
and/or injunctive relief, with respect to the Company’s failure to timely deliver Registrable Securities without legend as required
pursuant to the terms hereof. For purposes hereof, “Trading Day” means any day on which the Registrable Securities
are traded for any period on Nasdaq or, if Nasdaq is not the principal trading market for the Registrable Securities, on the principal
trading market or other securities exchange or market on which the Registrable Securities then being traded; provided, however, that during
any period in which the Registrable Securities not listed or quoted on Nasdaq or any other securities exchange or market, the term “Trading
Day” shall mean a business day, and “Standard Settlement Period” means, as of any date, the standard settlement period
for equity trades effected on securities exchanges in the United States, expressed in a number of Trading Days, as in effect on such date.

 

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ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1.            Indemnification.

 

4.1.1            The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each
person who controls such Holder (within the meaning of the Securities Act) (collectively, the “Holder Indemnified Persons”)
against all losses, claims, damages, liabilities and out-of-pocket expenses (including reasonable attorneys’ fees and inclusive
of all reasonable attorneys’ fees arising out of the enforcement of each such persons’ rights under this Section 4.1)
resulting from any Misstatement or alleged Misstatement, except insofar as the same are caused by or contained in any information furnished
in writing to the Company by or on behalf of such Holder Indemnified Person specifically for use in a Registration Statement.

 

4.1.2            In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to
the Company in writing such information as the Company reasonably requests for use in connection with any such Registration Statement
or Prospectus and, to the extent permitted by law, shall, severally and not jointly, indemnify the Company, its directors and officers
and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities
and out-of-pocket expenses (including reasonable attorneys’ fees and inclusive of all reasonable attorneys’ fees arising out
of the enforcement of each such persons’ rights under this Section 4.1) resulting from any Misstatement or alleged Misstatement,
but only to the extent that the same are made in reliance on and in conformity with information relating to the Holder so furnished in
writing to the Company by or on behalf of such Holder specifically for use therein. In no event shall the liability of any selling Holder
hereunder be greater in amount than the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such
Registration Statement giving rise to such indemnification obligation.

 

4.1.3            Any
person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such
indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with
respect to such claim or there may be reasonable defenses available to the indemnified party that are different from or additional to
those available to the indemnifying party, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party
who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than
one counsel (plus reasonably necessary local counsel) for all parties indemnified by such indemnifying party with respect to such claim,
unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other
of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent
to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money
is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim
or litigation and which settlement does not include any admission of fault or culpability by such indemnified party.

 

4.1.4            The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer
of securities.

 

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4.1.5            If
the indemnification provided under Section 4.1 of this Agreement is held by a court of competent jurisdiction to be unavailable
to an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the
indemnifying party, in lieu of indemnifying the indemnified party, shall to the extent permitted by law contribute to the amount paid
or payable by the indemnified party as a result of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion
as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and indemnified party shall be determined by a court of law by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by such indemnifying party or such indemnified party and the indemnifying party’s
and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided,
however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses
or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections 4.1.1,
4.1.2 and 4.1.3 of this Agreement, any legal or other fees, charges or out-of-pocket expenses reasonably incurred by such
party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does
not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5
from any person who was not guilty of such fraudulent misrepresentation.

 

ARTICLE V

MISCELLANEOUS

 

5.1            Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or
by courier service providing evidence of delivery or (iii) transmission by hand delivery, facsimile or email. Each notice or communication
that is mailed, delivered or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received,
in the case of mailed notices, on the third (3rd) business day following the date on which it is mailed, in the case of notices delivered
by courier service, hand delivery, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger)
or at such time as delivery is refused by the addressee upon presentation, and in the case of notices delivered by facsimile or email,
at such time as it is successfully transmitted to the addressee. Any notice or communication under this Agreement must be addressed, if
to the Sponsor, to: 2744 Sand Hill Road, Suite 100, Menlo Park, CA 94025, or by email at: phaskopoulos@riverstonellc.com,
if to the Company, to: Solid Power, Inc., 486 S. Pierce Ave. Suite E, Louisville, CO 80027, or by email at: legal@solidpowerbattery.com,
and, if to any Holder, to the address of such Holder as it appears in the applicable register for the Registrable Securities or such other
address as may be designated in writing by such Holder (including on the signature pages hereto). Any party may change its address
for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

5.2            Assignment;
No Third-Party Beneficiaries.

 

5.2.1            This
Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or
in part.

 

5.2.2            This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors.

 

5.2.3            This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto or do not hereafter become a party to this
Agreement pursuant to Section 5.2 of this Agreement.

 

5.2.4            No
assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company
unless and until the Company shall have received (i) written notice provided in accordance with Section 5.1 of this Agreement
and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made
other than as provided in this Section 5.2 shall be null and void.

 

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5.3            Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts or by other electronic transmission),
each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need
be produced.

 

5.4            Governing
Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW
YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION.

 

5.5            Amendments
and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities
at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or
any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding the foregoing,
any amendment hereto or waiver hereof that adversely affects one Holder, solely in his, her or its capacity as a holder of the shares
of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the
consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or
delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any
rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party
shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

5.6            Other
Registration Rights. The Company represents and warrants that no person, other than (a) a Holder of Registrable Securities, (b) the
parties to those certain Subscription Agreements, dated as of June 15, 2021, by and between the Company and certain investors, (c) SK
Innovation Co., Ltd. pursuant to its Subscription Agreement with the Company, dated as of October 27, 2021, and (d) the
holders of the Company’s warrants pursuant to that certain Warrant Agreement, dated as of March 23, 2021, by and between the
Company and Continental Stock Transfer & Trust Company, has any right to require the Company to register any securities of the
Company for sale or to include such securities of the Company in any Registration filed by the Company for the sale of securities for
its own account or for the account of any other person. Further, the Company represents and warrants that this Agreement supersedes any
other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement
or agreements and this Agreement, the terms of this Agreement shall prevail.

 

5.7            Term.
This Agreement shall terminate upon the earlier of (i) the tenth (10th) anniversary of the date of this Agreement and (ii) with
respect to any Holder, the date as of which such Holder ceases to hold any Registrable Securities. The provisions of Article IV
shall survive any termination.

 

5.8            Termination
of Existing Registration Rights Agreement. Upon this Agreement coming into effect, the Existing Registration Rights Agreement, shall
be amended in full with its terms replaced by the terms hereof pursuant to Section 5.7 of the Existing Registration Rights Agreement,
and the parties thereto shall take all necessary actions and cooperate with the Company to ensure that the Existing Registration Rights
Agreement is terminated without any further liability.

 

[SIGNATURE PAGES FOLLOW]

 

    14

     

    

 

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

 

	 	COMPANY:
	 	 
	 	DECARBONIZATION PLUS ACQUISITION CORPORATION III,
	 	a Delaware corporation
	 	 
	 	 
	 	By:	/s/ Peter Haskopoulos
	 	Name: Peter Haskopoulos
	 	Title: Chief Financial Officer, Chief Accounting Officer and Secretary
	 	 
	 	HOLDERS:
	 	 
	 	DECARBONIZATION PLUS ACQUISITION SPONSOR III LLC,
	 	a Delaware limited liability company
	 	 
	 	 
	 	By:	/s/ Peter Haskopoulos
	 	Name: Peter Haskopoulos
	 	Title: Authorized Person

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ James AC McDermott
	 	James AC McDermott

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ Jeffrey Tepper
	 	Jeffrey Tepper

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ Dr. Jennifer Aaker
	 	Dr. Jennifer Aaker

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ Jane Kearns
	 	Jane Kearns

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ Douglas Campbell
	 	Douglas Campbell

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	/s/ David B. Jansen
	 	David B. Jansen

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

	 	BMW HOLDING B.V.,
	 	 
	 	 	 
	 	By:	/s/ Walter Knopp
	 	 	Name: Walter Knopp
	 	 	Title: Managing Director
	 	 	 
	 	 	 
	 	 	 
	 	By:	/s/ Glenn Ramcharan
	 	 	Name: Glenn Ramcharan
	 	 	Title: Authorized Representative

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

 

     

     

    

 

 

	 	BMW I VENTURES SCS SICAV-RAIF
	 	duly represented by BMW iVentures INC.,
	 	itself duly represented by Marcus Behrendt and Michael Hammer
	 	 
	 	 	 
	 	By:	/s/ Marcus Behrendt
	 	 	Name: Marcus Behrendt
	 	 	Title: Chief Executive Officer
	 	 	 
	 	 	 
	 	 	 
	 	By:	/s/ Michael Hammer
	 	 	Name: Michael Hammer
	 	 	Title: Chief Financial Officer

 

[Signature Page to Amended and Restated
Registration Rights Agreement]

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