Document:

Exhibit 10.1

 

CONSULTING AGREEMENT

 

This Consulting
Agreement (this “Agreement”) is entered into as of January 14, 2021, by and between Jeffrey S. Levy
(the “Consultant”) and Atlantic Power Corporation, a corporation existing under the laws of the Province of
British Columbia (together with its subsidiaries and affiliates, collectively, the “Company”).

 

WHEREAS, the Company,
TIDAL POWER HOLDINGS LIMITED, a private limited company existing under the laws of the United Kingdom (“BidCo”)
and TIDAL POWER AGGREGATOR, LP, a limited partnership existing under the laws of the Cayman Islands (“AssetCo”
and, together with BidCo, the “Purchasers”) have entered into that certain Arrangement Agreement and Plan of
Arrangement dated as of the date hereof (the “Arrangement Agreement”) (which will constitute a “change
in control event” within the meaning of Code Section 409A (as defined below)).

 

WHEREAS, the Consultant
formerly served as an employee and General Counsel, Senior Vice President and Corporate Secretary of the Company and resigned from
his employment with the Company effective January 1, 2021; and

  

WHEREAS, the Company
desires to retain the consulting services of the Consultant on a transitional basis to assist the Company solely with respect to
matters relating to the Arrangement Agreement and the transactions contemplated thereby, commencing immediately following the execution
of the Arrangement Agreement (the date on which such execution occurs, the “Signing Date”), on the terms and
conditions set forth herein.

 

NOW THEREFORE, in consideration
of the premises, agreements, and covenants herein, the receipt and sufficiency of which is hereby acknowledged, the Consultant
and the Company agree as follows:

 

 1.              Consulting Services.

 

(a)            Consulting
Period. The Consultant shall be retained by the Company to perform consulting services for the Company as an independent contractor
for the period commencing immediately following the execution of the Arrangement Agreement on the Signing Date and expiring on
December 31, 2021 (the “Consulting Period”), unless sooner terminated in accordance with the terms hereof.

 

(b)           Scope
of Consulting Services. During the Consulting Period, the Consultant shall assist the Company as reasonably requested from
time to time in responding to inquiries solely with respect to matters relating to the Arrangement Agreement and the transactions
contemplated thereby, about which the Consultant, by virtue of his prior employment with the Company, has relevant knowledge and
information (the “Consulting Services”). The Consultant shall report directly to the Chief Executive Officer
of the Company, or such other officer or director of the Company as may be determined from time to time by the Chief Executive
Officer.

 

(c)         Performance
of Consulting Services. The Consulting Services will be performed at such times as mutually agreed upon by the Company and
the Consultant; provided that, the Company expressly acknowledges and agrees that during the Consulting Period (i) the
Consultant’s full-time employment shall have priority over the performance of the Consulting Services, and (ii) the
Consultant will be employed full-time with another business enterprise in the energy infrastructure business with investments in
power generation, transmission, storage, and related projects that may compete with or have business interests adverse to those
of the Company.

 

     

     

    

 

(d)          Status
as Independent Contractor; Limited Authority. The Consultant hereby acknowledges and agrees that (i) he shall provide
the Consulting Services to the Company as an independent contractor, (ii) this Agreement shall not be construed to create
any association, partnership, joint venture, employment or agency relationship between the Consultant and the Company for any purpose
and (iii) he may not, at any time, act as a representative for or on behalf of the Company for any purpose or transaction,
and may not bind or otherwise obligate the Company in any manner whatsoever.

 

(e)            Consulting
Fee. In consideration of (i) the Consulting Services and (ii) continued compliance with Section 2 hereof, subject
to the occurrence of the Effective Time (as defined in the Arrangement Agreement), the Company shall pay the Consultant a consulting
fee of US$600,000 in the aggregate (the “Consulting Fee”), which will be fully-earned as of the Effective Time,
and due and payable in equal quarterly payments of US$150,000 on the last business day of each quarter during the Consulting Period.
In the event that a scheduled quarterly payment date occurs prior to the Effective Time, any payment that would have been paid
on such date shall be paid concurrently with the Effective Time.

 

(f)            Taxes.
The parties hereby acknowledge and agree that the Consulting Fee shall not be deemed to be wages and the Consultant will have sole
responsibility for the withholding or payment of taxes, including income, social security, employment, self-employment or other
taxes that may be applicable to the Consultant or payable by reason of the Consulting Services rendered by the Consultant to the
Company or the Consulting Fee payable to the Consultant by the Company. The aggregate amount paid to the Consultant during the
calendar year of the Consulting Period will be reported by the Company to the Consultant and the U.S. Internal Revenue Service
on an IRS Form 1099-MISC.

 

(g)            Expenses.
The Consultant shall not incur any out-of-pocket expenses in connection with the provision of Consulting Services without the prior
approval of the Company.

 

(h)           Early
Termination. The Company or the Consultant may elect to terminate the Consulting Services prior to the end of the Consulting
Period; provided that, if the Company terminates the Consulting Services prior to the end of the Consulting Period for any
reason other than the Consultant’s material breach of his obligations under this Agreement, which the Consultant has not
cured within 30 days after receiving reasonable notice of such breach from the Company, then the Company shall continue to pay
the Consultant the Consulting Fee for the remainder of the Consulting Period in accordance with the terms of this Agreement; and
provided further that, if the Consultant terminates the Consulting Services prior to the end of the Consulting Period for
any reason other than the Consultant’s death or disability, or the Company’s material breach of its obligations under
this Agreement, which the Company has not cured within 30 days after receiving reasonable notice of such breach from the Consultant,
then the Company will not be required to pay the Consultant the Consulting Fee for the for the remainder of the Consulting Period
in accordance with the terms of this Agreement.

 

 2.              Additional Covenants of the Consultant. The Consultant expressly acknowledges and agrees that:

 

(a)            the
Consultant will return to the Company, and will not retain, all Company files and documents (and any copies thereof in any form
or media) and that Consultant shall abide by any and all contractual, common law and/or statutory obligations relating to protection
and nondisclosure of the Company’s trade secrets and/or confidential and proprietary documents and information;

 

(b)           the
Consultant will not at any time for any reason whatsoever use or reveal to any person or entity (both commercial and non-commercial)
any Confidential Information1 of
the Company; provided that, this restriction shall not apply to: (i) information that may be disclosed generally or
is in the public domain through no fault of the Consultant; (ii) information received from a third party outside the Company
that was disclosed without a breach of any confidentiality obligation; (iii) information approved for release by written authorization
of the Company; (iv) information that may be required by law or an order of any court, agency or proceeding to be disclosed,
but only to the extent such disclosure is required; or (v) information reported to any governmental agency or entity, including
but not limited to the Department of Justice, in connection with a possible violation of federal or state law or regulation; and

 

 

1
The term “Confidential Information,” as used in this Agreement, shall be given its broadest possible
interpretation under law and shall include, but not be limited to, trade secrets, anything tangible or intangible or electronically
kept or stored, which constitutes, represents, evidences or records a secret scientific, technical, merchandising, production
or management information, design, process, procedure, formula, invention or improvement; information regarding plans for research,
development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices
and costs, suppliers and customers; information regarding the skills and compensation of other employees of the Company; and any
other confidential and proprietary information and documents related to the Company.

 

    2 

     

    

 

(c)            a
breach of any of the foregoing covenants by the Consultant shall constitute a material breach of this Agreement and, subject to
Section 1(h), the Company will not be required to pay the Consultant the Consulting Fee for the remainder of the Consulting
Period in accordance with the terms of this Agreement.

 

 3.              Miscellaneous.

 

(a)            Entire
Agreement. This Agreement, the Arrangement Agreement and the other documents delivered pursuant hereto or thereto sets forth
the entire agreement between the parties with respect to the subject matter hereof. This Agreement supersedes any and all prior
understandings and agreements between the parties with respect to the subject matter hereof, and neither party shall have any obligation
toward the other except as set forth herein. This Agreement may not be amended, or modified except in writing signed by both parties.
Notwithstanding anything herein to the contrary, nothing in this Agreement shall (x) prohibit the Consultant from making reports
of possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and
rules promulgated under Section 21F of the Securities Exchange Act of 1934, as amended, or Section 806 of the Sarbanes-Oxley
Act of 2002, or of any other whistleblower protection provisions of federal law or regulation, or (y) require notification
or prior approval by the Company of any such report; provided that, the Consultant is not authorized to disclose communications
with counsel that were made for the purpose of receiving legal advice or that contain legal advice or that are protected by the
attorney work product or similar privilege. Furthermore, the Consultant shall not be held criminally or civilly liable under any
federal or state trade secret law for the disclosure of a trade secret that is made (1) in confidence to a federal, state
or local government official, either directly or indirectly, or to an attorney, in each case, solely for the purpose of reporting
or investigating a suspected violation of law or (2) in a complaint or other document filed in a lawsuit or proceeding, if
such filings are made under seal.

 

(b)           Severability
and Reformation. Each of the provisions of this Agreement constitutes independent and separable covenants. Each of the provisions
of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision
hereof is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision will be ineffective
only to the extent of such invalidity, illegality, or unenforceability, without invalidating the remainder of this Agreement.

 

(c)           No
Waiver. No waiver of any of the provisions of this Agreement will constitute a waiver of any other provision (whether or not
similar). No waiver will be binding unless executed in writing by the party to be bound by the waiver. A party’s failure
or delay in exercising any right under this Agreement will not operate as a waiver of that right. A single or partial exercise
of any right will not preclude a party from any other or further exercise of that right or the exercise of any other right.

 

    3 

     

    

 

(d)           Successors
and Assigns. This Agreement and any rights herein granted are personal to the parties hereto and will not be assigned or otherwise
transferred by either party without the prior written consent of the other party, and any attempt at violative assignment or other
transfer, whether voluntary or by operation of law, will be void and of no force and effect; provided that, the Company
shall require any successor (whether direct or indirect, by purchase, merger, plan of arrangement or otherwise) to all or substantially
all of the business and/or assets of the Company to assume this Agreement in the same manner and to the same extent that the Company
would have been required to perform it if no such succession had taken place. As used in the Agreement, “the Company”
shall mean both the Company (as defined above) and any such successor that assumes this Agreement, by operation of law or otherwise.
This Agreement and all of the Consultant’s rights hereunder shall inure to the benefit of and be enforceable by the Consultant’s
heirs and estate.

 

(e)           No
Conflict; Governing Law. Each party represents that the performance of all of the terms of this Agreement will not result in
a breach of, or constitute a conflict with, any other agreement or obligation of that party. This Agreement shall be deemed to
have been made in the Commonwealth of Massachusetts, shall take effect as an instrument under seal within the Commonwealth of Massachusetts,
and shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without giving effect
to conflict of law principles thereof. The parties agree that any action, demand, claim or counterclaim relating to this Agreement
shall be commenced in the Commonwealth of Massachusetts, in a court of competent jurisdiction and that the venue for such actions
shall lie exclusively in the Commonwealth of Massachusetts.

 

(f)           Legal
Fees. If any action or proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach,
or default in connection with any provision of this Agreement, the prevailing party shall be reimbursed by the losing party for
all reasonable attorneys’ fees and other costs incurred in such action or proceeding, in addition to any other relief to
which it may be entitled. The term “prevailing party” shall mean the party who substantially obtains or defeats the
relief sought, as the case may be, whether by compromise, settlement, judgment, or the abandonment by the other party of its claim
or defense.

 

(g)           Code
Section 409A. The intent of the parties is that payments and benefits under this Agreement shall comply with or be exempt
from Internal Revenue Code Section 409A and applicable guidance promulgated thereunder (collectively “Code Section 409A”)
and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted in accordance therewith.

 

(h)           Notices.
All notices and other communications hereunder shall be in writing. Any notice or other communication hereunder shall be deemed
duly given if it is sent by registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended
recipient at the addresses maintained in the Company’s records. Notices sent to the Company should be directed to the attention
of the Company’s Chief Executive Officer.

 

4.            Counterpart
Agreements. This Agreement may be executed, including by electronic signature, in any number of counterparts (including counterparts
by facsimile or any other form of electronic communication) and all such counterparts taken together shall be deemed to constitute
one and the same instrument. The parties shall be entitled to rely upon delivery of an executed facsimile or similar executed electronic
copy of this Agreement, and such facsimile or similar executed electronic copy shall be legally effective to create a valid and
binding agreement between the parties.

 

    4 

     

    

 

5.             Rules of
Construction. The parties to this Agreement waive the application of any law or rule of construction providing that ambiguities
in any agreement or other document shall be construed against the party drafting such agreement or other document.

 

6.             Captions
and Headings. The captions and headings are for convenience of reference only and do not affect the construction or interpretation
of this Agreement.

 

* * * * * *

 

    5 

     

    

 

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

 

	 	ATLANTIC
    POWER CORPORATION
	 	 
	 	 
	 	By:	/s/
Terrence Ronan
	 	 	Name: Terrence Ronan
	 	 	Title: Executive Vice President and Chief Financial Officer
	 	 	 
	 	 
	 	CONSULTANT
	 	 
	 	/s/
    Jeffrey S. Levy
	 	Jeffrey
    S. Levy

 

[Signature Page to Consulting Agreement]ex-10.1

   
 GENERAL SERVICE
 AGREEMENT
  
 THIS GENERAL SERVICE AGREEMENT (the "Agreement") is dated this 6th of January 2021.
  
 	 CLIENT
  
 Duesenberg Inc.
  
 401 Ryland St STE 200-A,
 Reno, NV 89502 (USA)
 Company Number: E2625702019-3
  
 (the "Client")
	  
	 CONTRACTOR
  
 Rocket Supreme S.L.
 CARRER PAMPLONA 92-94,
 BAJOS 2 08018
 Barcelona (Spain)
 VAT Number: B66492018
  
 (the "Contractor")

  
 BACKGROUND
  
 A.The Client is of the opinion that the Contractor has the necessary qualifications, experience and abilities to provide services to the Client. 
  
 B.The Contractor is agreeable to providing such services to the Client on the terms and conditions set out in this Agreement to provide the stated milestones and to receive the periodically stated payments. 
  
 IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Client and the Contractor (individually the "Party" and collectively the "Parties" to this Agreement) agree as follows:
  
 SERVICES PROVIDED
  
 1.The Client hereby agrees to engage the Contractor to provide the Client with the following services (the "Services"): 
  
 ·Design and development TIMELINE of Duesenberg Torpedo showcar prototype. see page 9 of 11: ANNEX 1 _ Timeline Design Process) 
 ·Design and development of Duesenberg Torpedo showcar prototype. (see page 10 of 11: ANNEX 1 _ The Service.pdf) 
  
 2.Any other tasks which are not stated in this Agreement (design & development of the showcar prototype defined in ANNEX 1 _ The Service.pdf) the Parties will have to mutually agree on, and will lead to an extension of this agreement. 
  
 TERM OF AGREEMENT
  
 3.The term of this Agreement (the "Term") will begin on the date of this Agreement and will remain in full force and effect until July 31, 2021, subject to earlier termination as provided in this Agreement. The Term may be extended with the written consent of the Parties. 
 
  
Page 2 of 13
 
 4.In the event that either Party wishes to terminate this Agreement prior to July 31, 2021, that Party will be required to provide 30 days' written notice to the other Party. 
  
 PERFORMANCE
  
 5.The Parties agree to do everything necessary to ensure that the terms of this Agreement take effect. 
  
 CURRENCY
  
 6.Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in USD (US Dollars). 
  
 COMPENSATION
  
 7.The Contractor will charge the Client for the Services a total of $2,056,000.00 (the "Compensation"). 
  
 8.Invoices submitted by the Contractor to the Client are due within 5 working days of receipt. 
  
 9.The Client will be invoiced based on nine (9) milestones based on service deliveries (Project timeline see: ANNEX 1 _ Timeline Design Process.pdf): 
  
 	 ·Milestone 1: KICK-OFF (20% of total) 
	 $411,200.00

	  
	  

	 ·Milestone 2: ERGONOMICS EXTERIOR engineering Data and engineering Information/CAD data (5% of total) 
	 $102,800.00

	  
	  

	 ·Milestone 3: ERGONOMICS INTERIOR engineering Data and engineering Information/ CAD data (5% of total) 
	 $102,800.00

	  
	  

	 ·Milestone 4: DESIGN CAD Exterior and Interior (10% of total) 
	 $205,600.00

	  
	  

	 ·Milestone 5: CMF PRESENTATION Samples and material description (5% of total) 
	 $102,800.00

	  
	  

	 ·Milestone 6: Design FREEZE Exterior including Engineering data flanges, rebounds, show car related B-surfaces and structural panels (25% of total) 
	 $514,000.00

	  
	  

	 ·Milestone 7: Design FREEZE Interior including Engineering data components structures Fittings and show car manufacturing concepts (20% of total) 
	 $411,200.00

	  
	  

	 ·Milestone 8: PRESENTATION See Thru MODEL (5% of total) 
	 $102,800.00

	  
	  

	 ·Milestone 9: HMI PRESENTATION (5% of total) 
	 $102,800.00

  
  
 
  
Page 3 of 13
 
 BANK ACCOUNT INFORMATION
  
 10.All payments hereof shall be made in USD (US Dollars) and paid by bank transfer to the bank account indicated by the Contractor as follows: 
  
 Account Holder: [Redacted]
 Bank Name: [Redacted]
 Bank Address: [Redacted]
 IBAN: [Redacted]
 BIC/SWIFT: [Redacted]
  
 REIMBURSEMENT OF EXPENSES
  
 11.The Contractor will be reimbursed within 30 days after reasonable and necessary expenses incurred by the Contractor in connection with providing the Services. 
  
 12.All expenses must be pre-approved by the Client. All expenses will be justified with receipts. 
  
 INTEREST ON LATE PAYMENTS
  
 13.Interest payable on any overdue amounts under this Agreement is charged at a rate of 3.00% per annum or at the maximum rate enforceable under applicable legislation, whichever is lower. 
  
 CONFIDENTIALITY
  
 14.Confidential information (the "Confidential Information") refers to any data or information relating to the business of the Client which would reasonably be considered to be proprietary to the Client including, but not limited to, accounting records, business processes, and client records and that is not generally known in the industry of the Client and where the release of that Confidential Information could reasonably be expected to cause harm to the Client. 
  
 15.The Contractor agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Contractor has obtained, except as authorized by the Client or as required by law. The obligations of confidentiality will apply during the Term and will end on the termination of this Agreement except in the case of any Confidential Information which is a trade secret in which case those obligations will last indefinitely. 
  
 16.All written and oral information and material disclosed or provided by the Client to the Contractor under this Agreement is Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Contractor. 
  
 OWNERSHIP OF INTELLECTUAL PROPERTY
  
 17.All intellectual property and related material, including any trade secrets, moral rights, goodwill, relevant registrations or applications for registration, and rights in any patent, copyright, trademark, trade dress, industrial design and trade name (the "Intellectual Property") that is developed or produced under this Agreement, is a "work made for hire" and will be the sole property of the Client, once all agreed payments are received by The Contractor. The use of the Intellectual Property by the Client will not be restricted in any manner, once all agreed payments are received. 
 
  
Page 4 of 13
 
 18.The Contractor may not use the Intellectual Property for any commercial purpose other than showing the project in there company portfolio with the written consent of the Client or the public presentation of the project, even after completion of this Agreement. 
  
 RETURN OF PROPERTY
  
 19.Upon the expiration or termination of this Agreement, the Contractor will return to the Client any property, documentation, records, or Confidential Information which is the property of the Client. 
  
 CAPACITY/INDEPENDENT CONTRACTOR
  
 20.In providing the Services under this Agreement it is expressly agreed that the Contractor is acting as an independent contractor and not as an employee. The Contractor and the Client acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service. The Client is not required to pay, or make any contributions to, any social security, local, state or federal tax, unemployment compensation, workers' compensation, insurance premium, profit-sharing, pension or any other employee benefit for the Contractor during the Term. The Contractor is responsible for paying, and complying with reporting requirements for, all local, state and federal taxes related to payments made to the Contractor under this Agreement. 
  
 RIGHT OF SUBSTITUTION
  
 21.Except as otherwise provided in this Agreement, the Contractor may, at the Contractor's absolute discretion, engage a third party sub-contractor to perform some or all of the obligations of the Contractor under this Agreement and the Client will not hire or engage any third parties to assist with the provision of the Services. 
  
 22.In the event that the Contractor hires a sub-contractor: 
  
 ·the Contractor will pay the sub-contractor for its services and the Compensation will remain payable by the Client to the Contractor. 
 ·for the purposes of the indemnification clause of this Agreement, the sub-contractor is an agent of the Contractor. 
  
 AUTONOMY
  
 23.Except as otherwise provided in this Agreement, the Contractor will have full control over working time, methods, and decision making in relation to provision of the Services in accordance with the Agreement. 
  
 24.The Contractor will work autonomously and not at the direction of the Client. However, the Contractor will be responsive to the reasonable needs and concerns of the Client. 
  
 EQUIPMENT
  
 25.Except as otherwise provided in this Agreement, the Contractor will provide at the Contractor’s own expense, any and all tools, machinery, equipment, raw materials, supplies, workwear and any other items or parts necessary to deliver the Services in accordance with the Agreement. 
 
  
Page 5 of 13
 
 NO EXCLUSIVITY
  
 26.The Parties acknowledge that this Agreement is non-exclusive and that either Party will be free, during and after the Term, to engage or contract with third parties for the provision of services similar to the Services. 
  
 NOTICE
  
 27.All notices, requests, demands or other communications required or permitted by the terms of this Agreement will be given by postal service or e-mail and delivered to the Parties at the following addresses: 
  
 a.Duesenberg Inc. 
  
 401 Ryland St STE 200-A, Reno, Nevada 89502 (United States of America)
 joelim@vgrab.com / joelim@dusenbergtech.com
  
 b.Rocket Supreme S.L. 
  
 CARRER PAMPLONA 92-94, BAJOS 2 08018 Barcelona (Spain)
 chris@rocketsupreme.com / marc@rocketsupreme.com
  
 or to such other address as either Party may from time to time notify the other, and will be deemed to be properly delivered (a) immediately upon being served personally, (b) two days after being deposited with the postal service if served by registered mail, or (c) the following day after being deposited with an overnight courier.
  
 INDEMNIFICATION
  
 28.Except to the extent paid in settlement from any applicable insurance policies, and to the extent permitted by applicable law, each The Client agrees to indemnify and hold harmless the other Party, and its respective directors, stockholders, affiliates, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from or arise out of any act or omission of the indemnifying party, its respective directors, stockholders, affiliates, officers, agents, employees, and permitted successors and assigns that occurs in connection with this Agreement. This indemnification will survive the termination of this Agreement. 
  
 MODIFICATION OF AGREEMENT
  
 29.Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party. 
  
 TIME OF THE ESSENCE
  
 30.Time is of the essence in this Agreement. No extension or variation of this Agreement will operate as a waiver of this provision. 
 
  
Page 6 of 13
 
 ASSIGNMENT
  
 31.The Contractor will not voluntarily, or by operation of law, assign or otherwise transfer its obligations under this Agreement without the prior written consent of the Client. 
  
 ENTIRE AGREEMENT
  
 32.It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement except as expressly provided in this Agreement. 
  
 ENUREMENT
  
 33.This Agreement will ensure to the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns. 
  
 TITLES/HEADINGS
  
 34.Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement. 
  
 GENDER
  
 35.Words in the singular mean and include the plural and vice versa. Words in the masculinemean and include the feminine and vice versa. 
  
 GOVERNING LAW
  
 36.This Agreement will be governed by and construed in accordance with the laws of Germany. 
  
 SEVERABILITY
  
 37.In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, all other provisions will nevertheless continue to be valid and enforceable with the invalid or unenforceable parts severed from the remainder of this Agreement. 
  
 WAIVER
  
 38.The waiver by either Party of a breach, default, delay or omission of any of the provisions of this Agreement by the other Party will not be construed as a waiver of any subsequent breach of the same or other provisions. 
  
 PERFORMANCE AND AMENDMENT
  
 39.The Parties shall make full performance strictly abiding by this Agreement. 
  
 40.Any change of The Client’s name, legal representative, principal, investors or any other matters shall not cause any influence to the execution of this Agreement. 
  
 41.In the event of merge or division of The Client, this Agreement shall remain in force and the rights and obligations hereunder shall be undertaken by the succession party thereof. The Parties may revise this Agreement in written form upon mutual agreement. 
 
  
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 TERMINATION
  
 42.Upon 30 days prior written notice (including delivered in person or by e-mail), any Party may terminate this Agreement. The Client and The Contractor shall have the right to terminate this Agreement under the following circumstances: 
  
 i.The Contractor is not qualified for providing the Service hereof. 
 ii.The Contractor seriously violates The Client’s rules and regulations and this Agreement shall be terminated in accordance with such rules and regulation. 
 iii.The Contractor seriously neglects the duty, practices favoritism and irregularities, or causes great loss to The Client. 
 iv.The Contractor or The Client is investigated for criminal liabilities. 
  
 43.This Agreement shall terminate automatically under the following circumstances: 
  
 i.The term of this Agreement expires. 
 ii.This Contract is not renewed at the expiration of this Contract. 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
  
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 IN WITNESS WHEREOF the Parties have duly affixed their signatures under hand and seal on this 6th of January, 2021.
  
  
  
 Per: Duesenberg Inc   (Seal)
 Officer's Name: Lim Hun Beng
  
  
  
 Per: Rocket Supreme S.L.   (Seal)
 Officer's Name: Christopher Reitz 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
  
Page 9 of 13
 
 ANNEX 1
  
  
  
  
 
 

  Page 10 of 13
 
 ANNEX 1 _ Timeline Design Process
  
  
  
  
  
  
 
 

  Page 11 of 13
 
 ANNEX 1 _The Services
  
 1.Service Content 
  
 The Client hereby appoints the Contractor as the design studio, responsible for styling development of Duesenberg Torpedo including:
  
 a.the related design of exterior and interior; 
  
 b.the creation of the CAS data; 
  
 c.the creation of the HMI, UI/UX; 
  
 d.the creation of CMF; 
  
 e.support and instructing the appointed SHOWCAR company or other specified show car production supplier (travelling and accommodation expenses); 
  
 f.other necessary services designated by The Client and agreed by The Contractor resulting in a See Thru design model for investor presentation purposes. 
  
 2.Work Mechanism 
  
 a.The Contractor shall report to Duesenberg Inc. and other Project team members or any personnel designated by The Client. 
  
 b.In all the work process all data will be exchanged/updated on a minimum monthly level by e-mail or accordingly to milestones, call conference, related data transform network Dropbox or any way designated by The Client. 
  
 3.Milestone & Project Deliverables 
  
 a.Milestone 1: PROJECT KICK-OFF 
  
 b.Milestone 2: within 3 weeks upon the kick-off of the Service Agreement, the Contractor shall complete ERGONOMICS EXTERIOR Data sheet and CAS IGES files. 
  
 c.Milestone 3: within 6 weeks upon the kick-off of the Service Agreement, the Contractor shall complete ERGONOMICS INTERIOR Data sheet and CAS IGES files. 
  
 d.Milestone 4: within 10 weeks upon the kick-off of the Service Agreement, the Contractor shall COMPLETE DESIGN CAD VOLUME for See Thru MODEL Alias Data file and documentation. 
  
 e.Milestone 5: within 13 weeks upon the kick-off of the Service Agreement, the Contractor shall complete CMF (Colour, Material & Finish) PRESENTATION Material and Color description and samples for Show car prototype. 
  
 f.Milestone 6: within 15 weeks upon the kick-off of the Service Agreement, the Contractor shall complete DESIGN Freeze EXTERIOR & FOAM DESIGN MODEL complete Alias  
 
  
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 Data file including Flanges rebounds and show car related structural B surfaces and inner panels.
  
 g.Milestone 7: within 19 weeks upon the kick-off of the Service Agreement, the Contractor shall complete DESIGN Freeze INTERIOR & EXTERIOR FOAM DESIGN MODEL. 
  
 h.Milestone 8: within 22 weeks upon the kick-off of the Service Agreement, the Contractor shall complete PRESENTATION See Thru MODEL. 
  
 i.Milestone 9: within 28 weeks upon the kick-off of the Service Agreement, the Contractor shall complete HMI (Human Machine Interface) FINAL PRESENTATION Data files and 2d documentations. 
  
 4.General work conditions: 
  
 a.The Contractor complies to deliver 2D sketch-render representation/CAS data on all agreed areas of the vehicle to fulfill the given milestones and timeline from The Client. The Contractor will not be responsible to compensate for missing engineering data from suppliers and The Client. 
  
 b.All design modifications will be frozen 2 weeks before the official delivery date. Should any design modification occurs during these 2 weeks previous to the official delivery date, potential cost and lead time impact will be discussed and agreed between the Client and the Contractor. 
  
 c.Any modification that implies more than 10% impact will automatically stop the project in order to agree to a proper solution and a new quotation will be provided when applicable. 
  
 d.Modification time will be reduced depending on the progress of the project and its phases which must be previously defined and agreed by the Client and the Contractor. 
  
 5.Manpower 
  
 a.The exterior styling will be created by a team of designers which includes the computer and all used software license like Alias, Adobe photoshop and hand sketches. Their function is to draw and create 2D and 3D images of the exterior design. The nature of this project is requesting a staggered designer increase over a period of the first 10 weeks, that an exterior project leader and will follow the project until the end of project. 
  
 b.The interior styling will be created by a team of designers which includes the computer and all used software license like Alias, Adobe photoshop and hand sketches. Their function is to draw and create 2D and 3D images of the interior design, as the project is a complete interior car and all related parts. 
  
 c.The exterior CAS data will be created by a team of ALIAS modelers which includes the computer and all used software license like Autodesk ALIAS (the CAS data will be used directly for SHOWCAR tooling). 
 
  
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 d.The interior CAS data will be created by a team of ALIAS modelers which includes the computer and all used software license like Autodesk ALIAS (the CAS data will be used directly for SHOWCAR tooling). 
  
 e.The CMF (Color, Material & Finish) styling will be created by designers which includes the computer and all used software license like Alias, Adobe photoshop and hand sketches and organizing the trim materials and defining the color theme, each visible car part exterior and interior must be color and material defined by this team 
  
 f.HMI styling will be created by a team of designers which includes the computer and all used software license like Alias, Softimage, Adobe photoshop and hand sketches and create simulated HMIinterfaces with little animations. Their function is to develop UX (User Experience), design UI (User Interface) and develop and create icons and animations of the HMI interface and create a preview of the production interface system.

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