Document:

EXHIBIT
4.4

 

RIGHTS
AGREEMENT

 

This
Rights Agreement (this “Agreement”) is made as of [●], 2021 between Sunfire Acquisition Corp Limited, a Cayman Islands
exempted company with number 377443, with its executive offices at 1800 Avenue of the Stars, Suite 1475, Los Angeles, CA 90067 (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation, with offices at 1 State Street, 30th Floor, New York, New
York 10004 (the “Rights Agent”).

 

WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of units, each unit (“Unit”) comprised of one
Class A ordinary share with par value $0.0001 per share of the Company (“Ordinary Shares”) and one right to receive one-eighth
of one Ordinary Share (each a “Right” and collectively, the “Rights”), subject to adjustment, upon the happening
of the triggering event described herein;

 

WHEREAS,
in connection with the Public Offering, the Company will issue and deliver up to 10,000,000 Rights (or up to 11,500,000 Rights if the
underwriters’ over-allotment option is exercised in full) to the public investors;

 

WHEREAS,
the Company’s sponsor (as defined in the Registration Statement) has agreed to purchase up to 395,000 Units (or up to 425,000 Units
if the underwriters’ over-allotment option is exercised in full), and in connection therewith, the Company will issue and deliver
up to an aggregate of 395,000 Rights (or up to 425,000 Rights if the underwriters’ over-allotment option is exercised in full)
as part of such Units upon consummation of such private placement;

 

WHEREAS,
the Company may issue up to 150,000 Units upon conversion of certain working capital loans made by the Company to the sponsor (as defined
in the Registration Statement) or an affiliate of the sponsor or certain of the Company’s officers and directors, and in connection
therewith, the Company will issue and deliver up to an aggregate of 150,000 Rights as part of such Units upon consummation of such conversion;

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File
No. 333-[●] (“Registration Statement”), and related Prospectus (“Prospectus”) for the registration, under
the Securities Act of 1933, as amended (“Act”), of, among other securities, the Rights and the Ordinary Shares issuable to
the holders of the Rights underlying the Units to be sold in the Public Offering;

 

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

 

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

 

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

 

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

 

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

 

	2.	Rights.

 

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

 

    	 

    	 

    

 

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

 

		2.3	Registration.

 

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

 

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

 

		2.4	Detachability
                                            of Rights. The securities comprising the Units, including the Rights, will not be separately
                                            transferable until the earlier to occur of: (i) the 52nd day following the date of
                                            the Prospectus or (ii) the announcement by EF Hutton, division of Benchmark Investments,
                                            LLC (the “Representative”) of its intention to allow separate earlier trading,
                                            except that in no event will the securities comprising the Units be separately tradeable
                                            until the Company files a Current Report on Form 8-K with the SEC which includes an audited
                                            balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering
                                            including the proceeds received by the Company from the exercise of the over-allotment option,
                                            if the over-allotment option is exercised by the date thereof and the Company issues a press
                                            release and files a Current Report on Form 8-K with the SEC announcing when such separate
                                            trading shall begin.

 

	3.	Terms
                                            and Exchange of Rights

 

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

 

		3.2	Exchange
                                            Event. An “Exchange Event” shall occur upon the Company’s consummation
                                            of an initial Business Combination (as described in the Company’s Amended and Restated
                                            Memorandum and Articles of Association).

 

	 	3.3	Exchange
                                            of Rights.

 

		3.3.1.	Issuance
                                            of Ordinary Shares. As soon as practicable upon the occurrence of an Exchange Event,
                                            the Company shall direct holders of the Rights to return their Rights Certificates to the
                                            Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to the
                                            registered holder of such Right(s) the number of full Ordinary Shares to which he, she or
                                            it is entitled, registered in such name or names as may be directed by him, her or it and
                                            issue to such registered holder(s) a certificate or book-entry position for the such shares.
                                            Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary,
                                            in no event will the Company be required to net cash settle the Rights. The Company shall
                                            not issue fractional shares upon exchange of Rights. In the event that any holder would otherwise
                                            be entitled to any fractional share upon exchange of Rights, at the time of an Exchange Event,
                                            the Company will instruct the Right Agent how any such entitlement will be addressed. To
                                            the fullest extent permitted by the Company’s Amended and Restated Memorandum and Articles
                                            of Association the Company reserves the right to deal with any such fractional entitlement
                                            at the relevant time in any manner permitted by the Act and the Amended and Restated Memorandum
                                            and Articles, which would include the rounding down of any entitlement to receive Ordinary
                                            Shares to the nearest whole share (and in effect extinguishing any fractional entitlement),
                                            or the holder being entitled to hold any remaining fractional entitlement (without any share
                                            being issued) and to aggregate the same with any future fractional entitlement to receive
                                            shares in the Company until the holder is entitled to receive a whole number. Any rounding
                                            down and extinguishment may be done with or without any in lieu cash payment or other compensation
                                            being made to the holder of the relevant Rights, such that value received on exchange of
                                            the Rights may be considered less than the value that the holder would otherwise expect to
                                            receive.

 

    	 

    	 

    

 

		3.3.2.	Valid
                                            Issuance. All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement
                                            and the Amended and Restated Memorandum and Articles of Association of the Company shall
                                            be validly issued, fully paid and nonassessable.

 

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

 

		3.3.4.	Company
                                            Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does
                                            not continue as the publicly held reporting entity, the definitive agreement will provide
                                            for the holders of Rights to receive the same per share consideration the holders of the
                                            Ordinary Shares will receive in such transaction, for the number of shares such holder is
                                            entitled to pursuant to Section 3.3.1 above. If the Company does not continue as the publicly
                                            held reporting entity upon an Exchange Event, each holder of a Right will be required to
                                            affirmatively convert his/her or its rights in order to receive the 1/8 share underlying
                                            each right (without paying any additional consideration) upon consummation of the Exchange
                                            Event. In such a case, each holder of a Right will be required to indicate his, her or its
                                            election to convert the Rights into underlying shares as well as to return the original certificates
                                            evidencing the Rights to the Company.

 

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

 

	4.	Transfer
                                            and Exchange of Rights.

 

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

 

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

 

    	 

    	 

    

 

		4.3	Fractional
                                            Rights. The Company shall not issue fractional
                                            Rights other than as part of the Units, each of which is comprised of one Ordinary Share
                                            and one-eighth of one whole Right. If, upon the detachment of Rights from the Units or otherwise,
                                            a holder of Rights would be entitled to receive a fractional Right, the Company shall round
                                            down to the nearest whole number the number of Rights to be issued to such holder. The
                                            Rights Agent shall not be required to effect any registration of transfer or exchange which
                                            will result in the issuance of a Right Certificate for a fraction of a Right.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

	6.	Concerning
                                            the Rights Agent and Other Matters.

 

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

 

		6.2	Resignation,
                                            Consolidation, or Merger of Rights Agent.

 

    	 

    	 

    

 

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

 

 

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

 

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

 

		6.3	Fees
                                            and Expenses of Rights Agent.

 

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

 

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

 

		6.4	Liability
                                            of Rights Agent.

 

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

 

    	 

    	 

    

 

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

 

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

 

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

 

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

 

	7.	Miscellaneous
                                            Provisions.

 

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

 

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

 

Sunfire
Acquisition Corp Limited

1800
Avenue of the Stars, Suite 1475

Los
Angeles, CA 90067

Attn:
Thomas W. Neukranz, Chief Executive Officer

 

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

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Account Administration

  

    	 

    	 

    

 

with
a copy to:

Mayer
Brown LLP

1221
Avenue of the Americas,

New
York, NY 10020

Attn:
Thomas Kollar, Esq. and Brian Hirshberg, Esq.

 

and

Loeb
& Loeb LLP

345
Park Avenue

New
York, NY 10154

Attn:
Mitchell S. Nussbaum, Esq. and David J. Levine, Esq.

 

and

EF
Hutton

division
of Benchmark Investments, LLC

590
Madison Avenue, 39th Floor

New
York, NY 10022

Attn.:
Edward Tsuker, Head of Capital Markets

 

		7.3	Applicable
                                            Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement
                                            and of the Rights shall be governed in all respects by the laws of the State of New York.
                                            Subject to applicable law, the Company hereby agrees that any action, proceeding or claim
                                            against it arising out of or relating in any way to this Agreement shall be brought and enforced
                                            in the courts of the State of New York or the United States District Court for the Southern
                                            District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
                                            be exclusive forum for any such action, proceeding or claim. The Company hereby waives any
                                            objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.
                                            Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought
                                            to enforce any liability or duty created by the Exchange Act or any other claim for which
                                            the federal district courts of the United States of America are the sole and exclusive forum.
                                            Any person or entity purchasing or otherwise acquiring any interest in the Rights shall be
                                            deemed to have notice of and to have consented to the forum provisions in this Section 7.3.
                                            If any action is filed in a court other than a court located within the State of New York
                                            or the United States District Court for the Southern District of New York (a “foreign
                                            action”) in the name of any right holder, such right holder shall be deemed to have
                                            consented to: (x) the personal jurisdiction of the state and federal courts located within
                                            the State of New York or the United States District Court for the Southern District of New
                                            York in connection with any action brought in any such court to enforce the forum provisions
                                            (an “enforcement action”), and (y) having service of process made upon such right
                                            holder in any such enforcement action by service upon such right holder’s counsel in
                                            the foreign action as agent for such right holder.

 

		7.4	Persons
                                            Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that
                                            may be implied from any of the provisions hereof is intended, or shall be construed, to confer
                                            upon, or give to, any person or corporation other than the parties hereto and the registered
                                            holders of the Rights and, for the purposes of Sections 7.4 and 7.8 hereof, the Representative,
                                            any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition,
                                            stipulation, promise, or agreement hereof. The Representative shall be deemed to be a third-party
                                            beneficiary of this Agreement with respect to Sections 7.4 and 7.8 hereof. All covenants,
                                            conditions, stipulations, promises, and agreements contained in this Agreement shall be for
                                            the sole and exclusive benefit of the parties hereto (and the Representative with respect
                                            to the Sections 7.4 and 7.8 hereof) and their successors and assigns and of the registered
                                            holders of the Rights. The provisions of this Section 7.4 may not be modified, amended or
                                            deleted without the prior written consent of the Representative.

 

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

 

    	 

    	 

    

 

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

 

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

 

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

 

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

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	SUNFIRE
    ACQUISIION CORP LIMITED:
	 	 	 
	 	By:	 
	 	Name:	Thomas
    W. Neukranz
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY:
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:Exhibit 10.1

 

[●], 2021

Sunfire Acquisition Corp Limited

1800 Avenue of the Stars, Suite 1475

Los Angeles, CA 90067

 

Re: Initial Public Offering 

 

Ladies and Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting AgreementI”) entered
into by and among Sunfire Acquisition Corp Limited, a Cayman Islands exempted company (the “Company”), and EF
Hutton, division of Benchmark Investment, LLC, as representative (the “Representative”) of the several underwriters
(each, an “Underwriter” and collectively, the “Underwriters”), relating to an underwritten
initial public offering (the “Public Offering”), of 11,500,000 of the Company’s units (including up to
1,500,000 units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one
Class A ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”), and one right (the
“Right”). Each Right entitles the holder thereof to receive one-eighth (1/8) of one share of Ordinary Share
upon consummation of the initial business combination, subject to adjustment. The Units will be sold in the Public Offering pursuant to
a registration statement and prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and
Exchange Commission (the “Commission”) and the Company has applied to have the Units listed on The Nasdaq Global
Market. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each of Sunfire Sponsor, LLC (the “Sponsor”) and the undersigned
individuals, each of whom is a member of the Company’s board of directors and/or management team or an advisor of the Company (each,
an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as
follows:

 

	1.	The Sponsor and each Insider agrees that if the Company seeks shareholder approval of a proposed Business Combination (as defined below), then in connection with such proposed Business Combination, it, he or she shall (i) vote any Ordinary Shares owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it, him or her in connection with such shareholder approval. If the Company engages in a tender offer in connection with any proposed Business Combination, the Sponsor and each Insider agrees that it, he or she will not seek to sell its, his or her shares of Capital Stock to the Company in connection with such tender offer.
	 	 
	2.	The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 12 months from the closing of the Public Offering (or up to 18 months from the closing of the Public Offering if the Company extends the period of time to consummate a Business Combination, as described in more detail in the Prospectus), or such later period approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering Shares”), at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest (which interest shall be net of taxes payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees not to propose any amendment to the Company’s amended and restated memorandum and articles of association (a) that would affect the ability of Public Shareholders to exercise redemption rights with respect to the Offering Shares or modify the substance or timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 12 months (or up to 18 months) from the closing of the Public Offering, or (b) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company provides its Public Shareholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable), divided by the number of then outstanding Offering Shares.

 

    	 

     

    

 

	 	The Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares (as defined below) held by it. The Sponsor and each Insider hereby further waives, with respect to any Ordinary Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase Ordinary Shares (although the Sponsor and the Insiders shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate a Business Combination within 12 months (or up to 18 months) from the closing of the Public Offering, or such later period approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association).
	 	 
	3.	During the period commencing on the date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder, with respect to any Units, shares of Capital Stock, Rights or any securities convertible into, or exercisable, or exchangeable for, shares of Capital Stock owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Capital Stock, Rights or any securities convertible into, or exercisable, or exchangeable for, shares of Capital Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver by press release through a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective three business days after the publication date of such press release. The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.
	 	 
	4.	In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent public accountants) for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has discussed entering into a transaction agreement (a “Target”); provided, however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.10 per share of the Offering Shares or (ii) such lesser amount per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense.

 

    	 	2	 

     

    

 

	5.	To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units in full within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 375,000 multiplied by a fraction, (i) the numerator of which is 1,500,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 1,500,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the Public Offering.
	 	 
	 	All references in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect as surrenders for no consideration of such Founder Shares as a matter of Cayman Islands law. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters so that the Founder Shares will represent 20.0% of the Company’s issued and outstanding Ordinary Shares after the Public Offering (assuming the Initial Shareholders do not purchase any units in the Public Offering and excluding the Private Shares). The Initial Shareholders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain the ownership of the Initial Shareholders prior to the Public Offering at 20.0% of the Company’s issued and outstanding Ordinary Shares upon the consummation of the Public Offering (assuming the Initial Shareholders do not purchase any units in the Public Offering and excluding the Private Shares). In connection with such increase or decrease in the size of the Public Offering, then (A) the references to 1,500,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of Ordinary Shares included in the Units issued in the Public Offering and (B) the reference to 375,000 in the formula set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Founder Shares would represent an aggregate of 20.0% of the Company’s issued and outstanding Ordinary Shares after the Public Offering (assuming the Initial Shareholders do not purchase any units in the Public Offering).
	 	 
	6.	The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9, as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.
	 	 	 
	7.	(a)	The Sponsor and each Insider agrees that it, he or she shall not Transfer nor sell any Founder Shares (or shares of Ordinary Share issuable upon conversion thereof) until the earlier to occur of (A) six-month anniversary of the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the last sale price of the Ordinary Shares equal or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock, reorganization or other similar transaction that results in all of the Company’s public shareholders having the right to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares Lock-up Period”).
	 	 	 
	 	(b)	The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units (including the underlying Rights), until 30 days after the completion of a Business Combination (the “Private Placement Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

    	 	3	 

     

    

 

	 	(c)	Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares and Private Placement Units (including the Private Shares and Private Rights), are permitted (a) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors or any affiliate of the Sponsor or to any member(s) of the Sponsor; (b) in the case of an individual, by gift to a member of such individual’s immediate family, to a trust, the beneficiary of which is a member of such individual’s immediate family or an affiliate of such individual, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of an initial Business Combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; or (g) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor, provided, however, that in the case of clauses (a) through (e), or (g), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein.

 

	8.	The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s background. Each Insider’s questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is not currently a defendant in any such criminal proceeding.
	 	 
	9.	Except as disclosed in the Prospectus, neither the Sponsor nor any officer, director, advisor or affiliate of the Sponsor, nor any officer, director or advisor of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).
	 	 
	10.	The Sponsor and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors or an advisor of the Company and hereby consents to being named in the Prospectus as an officer and/or director of the Company or an advisor of the Company.
	 	 
	11.	As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Ordinary Shares” shall mean, collectively, the Ordinary Shares; (iii) “Founder Shares” shall mean (a) the 2,875,000 shares of the Company’s Class B ordinary shares, par value $0.0001 per share, initially issued to the Sponsor (up to 375,000 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase price of $25,000, or $0.009 per share, prior to the consummation of the Public Offering; (iv) “Initial Shareholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Units” shall mean 395,000 units (or 425,000 units if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $3,950,000 (or $4,250,000 if the over-allotment option is exercised in full) in the aggregate, or $10.00 per Unit, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Private Rights” shall mean the rights underlying the Private Units, (vi) “Private Shares” shall mean the Ordinary Shares underlying the Private Units, (vii) “Public Shareholders” shall mean the holders of securities issued in the Public Offering; (viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (ix) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

    	 	4	 

     

    

 

	12.	The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each director of the Company shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers.
	 	 
	13.	This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.
	 	 
	14.	No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.
	 	 
	15.	Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees; provided, however, that the Representatives on behalf of the Underwriters are third party beneficiaries of this Letter Agreement.
	 	 
	16.	This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.
	 	 
	17.	This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.
	 	 
	18.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.
	 	 
	19.	Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.
	 	 
	20.	Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party to this Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable or responsible for the obligations of another party, including, without limitation, indemnification obligations and notice obligations.
	 	 
	21.	This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December 31, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

    	 	5	 

     

    

 

	 	Sincerely,
	 	 
	 	SUNFIRE SPONSOR, LLC
	 	 
	 	By:	 
	 	Name:	Barry Kostiner
	 	Title:	Manager

 

	Acknowledged and Agreed:	 
	 	 
	SUNFIRE ACQUISITION CORP LIMITED 	 
	 	 
	By:		 
	Name:	Thomas W. Neukranz	 
	Title:	Chief Executive Officer	 

 

[Signature Page to Letter Agreement]

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