Document:

Exhibit
10.3

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of [●], 2021, by and between
Sunfire Acquisition Corp Limited, a Cayman Islands exempted company (the “Company”), and Continental Stock
Transfer & Trust Company, a New York corporation (the “Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, File No. 333-[●] (the “Registration Statement”)
and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the “Units”),
each of which consists of one ordinary share of the Company, of par value $0.0001 per share (the “Ordinary Shares”),
and one right, each right entitling the holder thereof to receive one-eighth (1/8) of one Ordinary Share (such initial public offering
hereinafter referred to as the “Offering”), has been declared effective as of the date hereof by the U.S. Securities
and Exchange Commission; and

 

WHEREAS,
the Company has entered into an Underwriting Agreement (the “Underwriting Agreement”) with EF Hutton, division
of Benchmark Investment, LLC, as representative (the “Representative”) of the several underwriters (the “Underwriters”)
named therein; and

 

WHEREAS,
as described in the Prospectus, $101,000,000 of the net proceeds of the Offering and sale of the Private Placement Units (as defined
in the Underwriting Agreement) (or $116,150,000, if the Underwriters’ over-allotment option is exercised in full; or subject to
our sponsor, Sunfire Sponsor, LLC, depositing additional funds into the trust account as described in more detail in this prospectus
in order to extend the time available for the Company to consummate initial business combination) will be delivered to the Trustee to
be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”)
for the benefit of the Company and the holders of the Ordinary Shares included in the Units issued in the Offering as hereinafter provided
(the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,”
the shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,”
and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”);

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property equal to $3,500,000, or $4,025,000 if the Underwriters’ over-allotment
option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to
the Underwriters upon and concurrently with the consummation of the Business Combination (as defined below) (the “Deferred
Discount”); and

 

WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall
hold the Property.

 

NOW
THEREFORE, IT IS AGREED:

 

	1.	Agreements
    and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

	 	(a)	Hold
    the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
    Trustee in the United States at JP Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets
    of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;
	 	 	 
	 	(b)	Manage,
    supervise and administer the Trust Account subject to the terms and conditions set forth herein;
	 	 	 
	 	(c)	In
    a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government
    securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days
    or less, or in money market funds meeting the conditions of Rule 2a-7(d) promulgated under the Investment Company Act of 1940, as
    amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company;
    it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
    written instructions hereunder and the Trustee may earn bank credits or other consideration;

 

    	1

     

    

 

	 	(d)	Collect
    and receive, when due, all principal, interest or other income arising from the Property, which shall become part of the “Property,”
    as such term is used herein;
	 	 	 
	 	(e)	Promptly
    notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring action
    by the Company;
	 	 	 
	 	(f)	Supply
    any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s
    preparation of the tax returns relating to assets held in the Trust Account;
	 	 	 
	 	(g)	Participate
    in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
    by the Company to do so;
	 	 	 
	 	(h)	Render
    to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements
    of the Trust Account;
	 	 	 
	 	(i)	Commence
    liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter
    from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either
    Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by at least two of its Chief Executive Officer,
    Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the board of directors of
    the Company (the “Board”) or other authorized officer of the Company, and, in the case of a Termination
    Letter in a form substantially similar to the attached hereto as Exhibit A, acknowledged and agreed to by the Representative, and
    complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously
    released to the Company to pay its taxes (which interest shall be net of taxes payable, and less up to $150,000 of interest that
    may be released to the Company to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred
    to therein, or (y) upon the date which is, the later of (1) 12 months after the closing of the Offering (or 18 months after the closing
    of the Offering if extended in full as described in the Prospectus) and (2) such later date as may be approved by the Company’s
    shareholders in accordance with the Company’s amended and restated memorandum and articles of association if a Termination
    Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance
    with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including
    interest not previously released to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company
    to pay dissolution expenses) shall be distributed to the Public Shareholders of record as of such date
	 	 	 
	 	(j)	Upon
    written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
    Exhibit C, withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested
    by the Company to cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned
    on the Property, which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment,
    and the Company shall forward such payment to the relevant taxing authority; provided, however, that to the extent
    there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the
    Trust Account as shall be designated by the Company in writing to make such distribution, so long as there is no reduction in the
    principal amount per share initially deposited in the Trust Account. The written request of the Company referenced above shall constitute
    presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said
    request;

 

    	2

     

    

 

	 	(k)	Upon
    written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
    Exhibit D, the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem
    Ordinary Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the
    Company’s amended and restated memorandum and articles of association to modify the substance or timing of the ability of Public
    Shareholders to seek redemption in connection with an initial Business Combination or the Company’s obligation to redeem 100%
    of its public Ordinary Shares if the Company has not consummated an initial Business Combination within such time as is described
    in Section 1(i) of the Agreement. The written request of the Company referenced above shall constitute presumptive evidence that
    the Company is entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and
	 	 	 
	 	(l)	Not
    make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j) or (k) above.

 

	2.	Agreements
    and Covenants of the Company. The Company hereby agrees and covenants to:

 

	 	(a)	Give
    all instructions to the Trustee hereunder in writing, signed by at least two of the Company’s Chairman of the Board, Chief
    Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President or Secretary. In addition, except
    with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely
    on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable
    care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall
    promptly confirm such instructions in writing;
	 	 	 
	 	(b)	Subject
    to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including
    reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder
    and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with
    any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property
    or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud
    or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action,
    suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify
    the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee
    shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain
    the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee
    may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably
    withheld. The Company may participate in such action with its own counsel;
	 	 	 
	 	(c)	Pay
    the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and transaction
    processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the
    Property shall not be used to pay such fees unless and until the closing of the Business Combination (defined below). The Company
    shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The
    Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation
    of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this
    Section 2(c), Schedule A and as may be provided in Section 2(b) hereof;
	 	 	 
	 	(d)	In
    connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase,
    reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”),
    provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting verifying the vote of
    such shareholders regarding such Business Combination;

 

    	3

     

    

 

	 	(e)	Provide
    the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
    to any proposed withdrawal from the Trust Account promptly after it issues the same;
	 	 	 
	 	(f)	Unless
    otherwise agreed between the Company and the Representative, ensure that any Instruction Letter (as defined in Exhibit A) delivered
    in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to
    the account or accounts directed by the Representative on behalf of the Underwriters prior to any transfer of the funds held in the
    Trust Account to the Company or any other person;
	 	 	 
	 	(g)	Instruct
    the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to
    make any distributions that are not permitted under this Agreement; and
	 	 	 
	 	(h)	Within
    four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment
    expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less
    than $3,500,000.

 

	3.	Limitations
    of Liability. The Trustee shall have no responsibility or liability to:

 

	 	(a)	Imply
    obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement
    and that which is expressly set forth herein;
	 	 	 
	 	(b)	Take
    any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability
    to any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;
	 	 	 
	 	(c)	Institute
    any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any
    kind with respect to, any of the Property unless and until it shall have received written instructions from the Company given as
    provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;
	 	 	 
	 	(d)	Refund
    any depreciation in principal of any Property;
	 	 	 
	 	(e)	Assume
    that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
    otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;
	 	 	 
	 	(f)	The
    other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
    in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct.
    The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice
    of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report
    or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to
    the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care,
    to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand,
    or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written
    instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected,
    unless it shall give its prior written consent thereto;
	 	 	 
	 	(g)	Verify
    the accuracy of the information contained in the Registration Statement;
	 	 	 
	 	(h)	Provide
    any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated
    by the Registration Statement;

 

    	4

     

    

 

	 	(i)	File
    information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written
    statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;
	 	 	 
	 	(j)	Prepare,
    execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities
    relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not
    limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or
	 	 	 
	 	(k)	Verify
    calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i),
    1(j) or 1(k)hereof.

 

	4.	Trust
    Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
    to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that
    it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without
    limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company
    and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

	5.	Termination.
    This Agreement shall terminate as follows:

 

	 	(a)	If
    the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
    efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such
    time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the terms
    of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited
    to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate;
    provided, however, that in the event that the Company does not locate a successor trustee within ninety (90) days of
    receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any
    court in the State of New York or with the United States District Court for the Southern District of New York and upon such deposit,
    the Trustee shall be immune from any liability whatsoever; or
	 	 	 
	 	(b)	At
    such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
    of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance
    with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

 

	6.	Miscellaneous.

 

	 	(a)	The
    Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
    transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to
    such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized
    persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds
    transfers, the Trustee shall rely upon all information supplied to it by the Company, including, account names, account numbers,
    and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability
    arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability
    or expense resulting from any error in the information or transmission of the funds.
	 	 	 
	 	(b)	This
    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. This Agreement
    may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall
    constitute but one instrument.

 

    	5

     

    

  

	 	(c)	This
    Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
    for Sections 1(i), 1(j), 1(k) and 1(l) hereof (which sections may not be modified, amended or deleted
    without the affirmative vote of sixty five percent (65%) of the then issued and outstanding Ordinary Shares of the Company voting
    together as a single class; provided that no such amendment will affect any Public Shareholder who has otherwise indicated his election
    to redeem his Ordinary Shares in connection with a shareholder vote sought to amend this Agreement), this Agreement or any provision
    hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the
    parties hereto. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee
    may rely conclusively on the certification from the inspector or elections referenced above and shall be relieved of all liability
    to any party for executing the proposed amendment in reliance thereon.
	 	 	 
	 	(d)	The
    parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New
    York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS
    AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.
	 	 	 
	 	(e)	Any
    notice, consent or request to be given in connection with any of the terms or provisions of this 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 by electronic mail:

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, NY 10004

	 	Attn:	Francis
    Wolf and Celeste Gonzalez
	 	Email:	fwolf@continentalstock.com
	 	 	cgonzalez@continentalstock.com

 

if
to the Company, to:

 

Sunfire
Acquisition Corp Limited

Thomas
W. Neukranz

Chief
Executive Officer

1800
Avenue of the Stars, Suite 1475

Los
Angeles, CA90067

 

in
each case, with copies to:

 

Mayer
Brown LLP

1221
Avenue of the Americas

New
York, NY 10020

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

Telephone:
(212) 506-2500

Email:
thomas.kollar@mayerbrown.com

 

and

 

EF
Hutton

division
of Benchmark Investments, LLC

590
Madison Avenue, 39th Floor

New
York, NY 10022

Attn.:
Edward Tsuker, Head of Capital Markets

 

and

 

Loeb
& Loeb LLP

345
Park Avenue

New
York, NY 10154

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

Telephone:
(212) 407-4000

 

    	6

     

    

 

	 	(f)	Each
    of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into
    this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall
    not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in
    the Trust Account under any circumstance.
	 	 	 
	 	(g)	This
    Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
    negotiation and agreement of such parties and shall not be construed for or against any party hereto.
	 	 	 
	 	(h)	This
    Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
    shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic
    transmission shall constitute valid and sufficient delivery thereof.
	 	 	 
	 	(i)	Each
    of the Company and the Trustee hereby acknowledges and agrees that EF Hutton, division of Benchmark Investments, LLC on behalf of
    the Underwriters, is a third party beneficiary of this Agreement.
	 	 	 
	 	(j)	Except
    as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or
    entity.

 

[Signature
Page Follows]

 

    	7

     

    

 

IN
WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY, AS TRUSTEE
	 	 	 
	 	By:	 
	 	Name:	Francis
    Wolf
	 	Title:	Vice
    President
	 	 	 
	 	SUNFIRE ACQUISITION CORP LIMITED
	 	 	 
	 	By:	 
	 	Name:	Thomas
    W. Neukranz
	 	Title:	Chief
    Executive Officer

 

[Signature
Page to Investment Management Trust Agreement]

 

    	8

     

    

 

SCHEDULE
A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee	 	Initial closing of Offering by wire transfer	 	$	[●]	 
	 	 	 	 	 	 	 
	Trustee administration fee	 	Payable annually, first year fee payable, at initial closing of Offering by wire transfer; thereafter by wire transfer or check	 	$	[●]	 
	 	 	 	 	 	 	 
	Transaction processing fee for disbursements to Company under Sections 1(i) and (j)	 	Billed to Company following disbursement made to Company under Section 1	 	$	[●]	 
	 	 	 	 	 	 	 
	Paying Agent services as required pursuant to Section 1(i), (j) and (k)	 	Billed to Company upon delivery of service pursuant to Section 1(i), (j) and (k)
	 		
Prevailing rates	 

  

    	9

     

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

Re:
Trust Account - Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Sunfire Acquisition Corp Limited (the
“Company”) and Continental Stock Transfer & Trust Company (the “Trustee”),
dated as of [●], 2021 (the “Trust Agreement”), this is to advise you that the Company has entered
into an agreement with
                     (the
“Target Business”) to consummate a business combination with Target Business (the “Business
Combination”) on or about [insert date]. The Company shall notify you at least seventy-two (72) hours in
advance of the actual date of the consummation of the Business Combination (the “Consummation Date”).
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account,
and to transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation
Date, all of the funds held in the Trust Operating Account at JP Morgan Chase Bank, N.A. will be immediately available for transfer to
the account or accounts that the Company shall direct on the Consummation Date (including as directed to it by the Representative on
behalf of the Underwriters (with respect to the Deferred Discount)). It is acknowledged and agreed that while the funds are on deposit
in the trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, the Company will not earn any interest or dividends.

 

On
the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
or will be consummated concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”)
and (ii) the Company shall deliver to you (a) a certificate by the Chief Executive Officer, which verifies that the Business Combination
has been approved by a vote of the Company’s shareholders, if a vote is held and (b) a joint written instruction signed by the
Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed
to public shareholders who have properly exercised their redemption rights and payment of the Deferred Discount to the Representative
from the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds
held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms
of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date
without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should
remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net
of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust
Agreement shall be terminated.

 

In
the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified
you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions
from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business
day immediately following the Consummation Date as set forth in the notice as soon thereafter as possible.

 

	 	Very
    truly yours,
	 	 
	 	Sunfire
    Acquisition Corp Limited
	 	 
	 	By:	                       
	 	Name:	 
	 	Title:	 

 

	Acknowledged
    & Agreed by: EF Hutton, division of Benchmark Investments	 
	 	 
	By:	                                  	 
	Name:	 	 
	Title:	 	 

 

    	10

     

    

 

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

Re:
Trust Account - Termination Letter

 

Dear
Mr. Wolf and Ms. Gonzalez

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Sunfire Acquisition Corp Limited (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target Business
(the “Business Combination”) within the time frame specified in Section 1(i) of the Trust Agreement. Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to
transfer the total proceeds into the trust operating account at a segregated account held by you on behalf of the Beneficiaries to await
distribution to the Public Shareholders. The Company has selected [●] as the effective date for the purpose of determining when
the Public Shareholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record
and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Shareholders in
accordance with the terms of the Trust Agreement and the Amended and Restated Memorandum and Articles of Association of the Company.
Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the
Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section
1(j) of the Trust Agreement.

 

	(1)	18 months from the closing of the Offering, or at a later date, if extended.
	 	 
	 	 	Very truly yours,
	 	 	 
	 	 	Sunfire Acquisition Corp Limited
	 	 	 
	 	 	By:	                 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	cc:	EF Hutton, division of Benchmark Investments, LLC

 

    	11

     

    

 

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

Re:
Trust Account -Withdrawal Instruction

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between Sunfire Acquisition Corp Limited (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the Company $[●] of the interest income earned on the
Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The
Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with
the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your
receipt of this letter to the Company’s operating account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	 	Very
    truly yours,
	 	 	 
	 	 	Sunfire
    Acquisition Corp Limited
	 	 	 
	 	 	By:	                    
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	cc:	EF Hutton, division of Benchmark Investments, LLC

 

    	12

     

    

 

EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, New York 10004

Attn:
Francis Wolf and Celeste Gonzalez

 

Re:
Trust Account - Shareholder Redemption Withdrawal Instruction

 

Dear
Mr. Wolf and Ms. Gonzalez:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Sunfire Acquisition Corp Limited (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders of the Company $[●]
of the principal and interest income earned on the Property as of the date hereof to a segregated account held by you on behalf of the
Beneficiaries for distribution to the Shareholders who have requested redemption of their Ordinary Shares. Capitalized terms used but
not defined herein shall have the meanings set forth in the Trust Agreement.

 

The
Company needs such funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company
in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of
association to modify the substance or timing of the Company’s obligation to redeem 100% of public Ordinary Shares if the Company
has not consummated an initial Business Combination within such time as is described in Section 1(i) of the Trust Agreement. As such,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.

 

	 	 	Very truly yours,
	 	 	 
	 	 	Sunfire Acquisition Corp Limited
	 	 	 
	 	 	By:	                   
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	cc:	EF Hutton, division of Benchmark Investments, LLC

 

    	13Exhibit
10.4

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [●], 2021, is made and entered into by
and among Sunfire Acquisition Corp Limited, a Cayman Islands exempted company (the “Company”) and Sunfire Sponsor,
LLC, a Delaware limited liability company (the “Sponsor,” together with any person or entity who hereafter
becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively
the “Holders”).

 

RECITALS

 

WHEREAS,
on June 30, 2021, the Sponsor purchased an aggregate of 2,875,000 Class B Ordinary Shares (the “Founder Shares”) outstanding,
up to 375,000 of which would be forfeited to the Company for no consideration depending on the extent to which the underwriters of the
Company’s initial public offering exercise their over-allotment option;

 

WHEREAS,
the Founder Shares are convertible into shares of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”), on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS,
on [●], 2021, the Company and the Sponsor entered into that certain Private Placement Units Purchase Agreement, pursuant to which
the Sponsor agreed to purchase 395,000 units (or 425,000 units if the over-allotment option is exercised in full) at a price of $10.00
per unit (the “Private Placement Units”), in a private placement transaction occurring simultaneously with
the closing of the Company’s initial public offering;

 

WHEREAS,
each Private Unit consisting of one Ordinary Share (“Private Ordinary Share”), and one right (the “Private
Right”). Each Right entitles the holder thereof to receive one-eighth (1/8) of one ordinary share upon the consummation
of the Company’s it initial business combination;

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below)
the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may loan to the Company funds as
the Company may require, of which up to $1,500,000 of such loans may be convertible into private placement units (“Working
Capital Units”) at a price of $10.00 per unit; and

 

WHEREAS,
the Company and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration
rights with respect to certain securities of the Company, as set forth in this Agreement.

 

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

 

ARTICLE
I

DEFINITIONS

 

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

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment
of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would
be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not
to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein
(in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading,
(ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the Company has a bona
fide business purpose for not making such information public.

 

    	 

    	 

    

 

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

 

“Board”
shall mean the Board of Directors of the Company.

 

“Business
Combination” shall mean any merger, share exchange, asset acquisition, share purchase, reorganization or other similar
business combination with one or more businesses, involving the Company.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

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

 

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

 

“Demanding
Holder” shall have the meaning given in subsection 2.1.1.

 

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

 

“Form
S-1” shall have the meaning given in subsection 2.1.1.

 

“Form
S-3” shall have the meaning given in subsection 2.3.

 

“Founder
Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of Ordinary Shares
issuable upon conversion thereof.

 

“Founder
Shares Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier to occur of (A)
the 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 equals 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, share exchange,
reorganization or other similar transaction that results in all of the Company’s public shareholders having the right to exchange
their shares of Ordinary Shares for cash, securities or other property.

 

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

 

“Insider
Letter” shall mean that certain letter agreement, dated as of [●], 2021, by and among the Company, the Sponsor and
each of the Company’s officers, directors, director nominees and advisors.

 

“Maximum
Number of Securities” shall have the meaning given in subsection 2.1.4.

 

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

 

“Ordinary
Shares” shall have the meaning given in the Recitals hereto.

 

“Permitted
Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable
Securities prior to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, under
the Insider Letter, this Agreement and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.

 

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

 

    	2

    	 

    

 

“Private
Placement Lock-up Period” shall mean, with respect to Private Placement Units that are held by the initial purchasers of
such Private Placement Units or their Permitted Transferees, and any of the securities underlying the Private Placement Units, including
the Private Units issued or issuable upon the conversion of any such Private Rights), that are held by the initial purchasers of the
Private Placement Units or their Permitted Transferees, the period ending 30 days after the completion of the Company’s initial
Business Combination.

 

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

 

“Pro
Rata” shall have the meaning given in subsection 2.1.4.

 

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

 

“Registrable
Security” shall mean (a) the Founder Shares and the shares of Ordinary Shares issued or issuable upon the conversion of
any Founder Shares, (b) the Private Placement Units and the Ordinary Shares issued or issuable upon the exercise of the Private Placement
Units, (c) any outstanding share of the Ordinary Shares or any other equity security (including the shares of Ordinary Shares issued
or issuable upon the exercise of any other equity security) of the Company held by a Holder as of the date of this Agreement, (d) any
Working Capital Units (including the Ordinary Shares issued or issuable upon the exercise of the Working Capital Units), and (e) any
other equity security of the Company issued or issuable with respect to any such share of the Ordinary Shares by way of a share capitalization
or share subdivision or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided,
however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a
Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (B) such securities shall
have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been
delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities Act;
(C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to Rule 144 promulgated
under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no volume or other restrictions or
limitations); or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other
public securities transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

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

 

	 	(A)	all
    registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority,
    Inc.) and any securities exchange on which the Ordinary Shares are then listed;
	 	 	 
	 	(B)	fees
    and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters
    in connection with blue sky qualifications of Registrable Securities);
	 	 	 
	 	(C)	printing,
    messenger, telephone and delivery expenses;
	 	 	 
	 	(D)	reasonable
    fees and disbursements of counsel for the Company;
	 	 	 
	 	(E)	reasonable
    fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such
    Registration; and
	 	 	 
	 	(F)	reasonable
    fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration
    to be registered for offer and sale in the applicable Registration.

 

    	3

    	 

    

 

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

 

“Requesting
Holder” shall have the meaning given in subsection 2.1.1.

 

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

 

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

 

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

 

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

 

“Working
Capital Units” shall have the meaning given in the Recitals hereto.

 

ARTICLE
II

REGISTRATIONS

 

	2.1	Demand
    Registration.

 

	 	2.1.1	Request
    for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to time
    on or after the date the Company consummates the Business Combination, the Holders of at least a majority in interest of the then-outstanding
    number of Registrable Securities (the “Demanding Holders”) may make a written demand for Registration of
    all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to be included
    in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).
    The Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other
    Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all
    or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder
    that includes all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)
    shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon
    receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall
    be entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall
    effect, as soon thereafter as practicable, but not more than forty-five (45) days immediately after the Company’s receipt of
    the Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders
    pursuant to such Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of three
    (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable Securities;
    provided, however, that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form
    registration statement that may be available at such time (“Form S-1”) has become effective and all of
    the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form
    S-1 Registration have been sold, in accordance with Section 3.1 of this Agreement.

 

    	4

    	 

    

 

	 	2.1.2	Effective
    Registration. Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration
    pursuant to a Demand Registration shall not count as a Registration unless and until (i) the Registration Statement filed with the
    Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii)
    the Company has complied with all of its obligations under this Agreement with respect thereto; provided, further,
    that if, after such Registration Statement has been declared effective, an offering of Registrable Securities in a Registration pursuant
    to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission, federal or state court
    or any other governmental agency the Registration Statement with respect to such Registration shall be deemed not to have been declared
    effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest
    of the Demanding Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and
    accordingly notify the Company in writing, but in no event later than five (5) days, of such election; and provided, further,
    that the Company shall not be obligated or required to file another Registration Statement until the Registration Statement that
    has been previously filed with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.
	 	 	 
	 	2.1.3	Underwritten
    Offering. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the
    Demanding Holders so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant
    to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting
    Holder (if any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation
    in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the
    extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under
    this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such
    Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.
	 	 	 
	 	2.1.4	Reduction
    of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration,
    in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or
    number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with
    all other Ordinary Shares or other equity securities that the Company desires to sell and the Ordinary Shares, if any, as to which
    a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other shareholders
    who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten
    Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success
    of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number
    of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable
    Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities
    that each Demanding Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate
    number of Registrable Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten
    Registration (such proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding
    the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the
    foregoing clause (i), the Registrable Securities of Holders (Pro Rata, based on the respective number of Registrable Securities that
    each Holder has so requested) exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1
    hereof, without exceeding the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities
    has not been reached under the foregoing clauses (i) and (ii), the Ordinary Shares or other equity securities that the Company desires
    to sell, which can be sold without exceeding the Maximum Number of Securities; and (iv) fourth, to the extent that the Maximum Number
    of Securities has not been reached under the foregoing clauses (i), (ii) and (iii), the Ordinary Shares or other equity securities
    of other persons or entities that the Company is obligated to register in a Registration pursuant to separate written contractual
    arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities.

 

    	5

    	 

    

 

	 	2.1.5	Demand
    Registration Withdrawal. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
    of the Requesting Holders (if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from
    a Registration pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and
    the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the
    Registration Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such
    Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
    Expenses incurred in connection with a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection
    2.1.5.

 

	2.2	Piggyback
    Registration.

 

	 	2.2.1	Piggyback
    Rights. If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration
    Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable
    or exchangeable for, or convertible into equity securities, for its own account or for the account of shareholders of the Company
    (or by the Company and by the shareholders of the Company including, without limitation, pursuant to Section 2.1 hereof),
    other than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange
    offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible
    into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall give written notice of such
    proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the
    anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be included
    in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any,
    in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number
    of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such written notice (such
    Registration a “Piggyback Registration”). The Company shall, in good faith, cause such Registrable Securities
    to be included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter or Underwriters of
    a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1
    to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included
    in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
    of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under
    this subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such
    Underwritten Offering by the Company.

 

    	6

    	 

    

 

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

	 	 	(a)	If
    the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, the
    Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number
    of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A),
    the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection
    2.2.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that
    the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares, if any, as to
    which Registration has been requested pursuant to written contractual piggy-back registration rights of other shareholders of the
    Company, which can be sold without exceeding the Maximum Number of Securities; and
	 	 	 	 
	 	 	(b)	If
    the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company
    shall include in any such Registration (A) first, the Ordinary Shares or other equity securities, if any, of such requesting persons
    or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities;
    (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable
    Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1, pro rata,
    based on the number of Registrable Securities that each Holder has requested be included in such Underwritten Registration and the
    aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten Registration, which
    can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has
    not been reached under the foregoing clauses (A) and (B), the Ordinary Shares or other equity securities that the Company desires
    to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number
    of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares or other equity securities for
    the account of other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements
    with such persons or entities, which can be sold without exceeding the Maximum Number of Securities.

 

	 	2.2.3	Piggyback
    Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration
    for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her
    or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with
    the Commission with respect to such Piggyback Registration. The Company (whether on its own good faith determination or as the result
    of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement
    filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration
    Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses
    incurred in connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.
	 	 	 
	 	2.2.4	Unlimited
    Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall
    not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

	2.3	Registrations
    on Form S-3. Any Holder of Registrable Securities may at any time, and from time to time, request in writing that the Company,
    pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale
    of any or all of their Registrable Securities on Form S-3 or any similar short form registration statement that may be available
    at such time (“Form S-3”); provided, however, that the Company shall not be obligated to
    effect such request through an Underwritten Offering. Within five (5) days of the Company’s receipt of a written request from
    a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly give written notice of the
    proposed Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of Registrable Securities who thereafter
    wishes to include all or a portion of such Holder’s Registrable Securities in such Registration on Form S-3 shall so notify
    the Company, in writing, within ten (10) days after the receipt by the Holder of the notice from the Company. As soon as practicable
    thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request for a Registration
    on Form S-3, the Company shall register all or such portion of such Holder’s Registrable Securities as are specified in such
    written request, together with all or such portion of Registrable Securities of any other Holder or Holders joining in such request
    as are specified in the written notification given by such Holder or Holders; provided, however, that the Company shall
    not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available for such
    offering; or (ii) the Holders of Registrable Securities, together with the Holders of any other equity securities of the Company
    entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities (if any)
    at any aggregate price to the public of less than $1,000,000.

 

    	7

    	 

    

 

	2.4	Restrictions
    on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith
    estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company
    initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration
    pursuant to subsection 2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable
    Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders
    are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board
    such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer
    the filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate
    signed by the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the
    Company for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of
    such Registration Statement. In such event, the Company shall have the right to defer such filing for a period of not more than thirty
    (30) days; provided, however, that the Company shall not defer its obligation in this manner more than once in any
    12-month period.

 

ARTICLE
III

COMPANY PROCEDURES

 

	3.1	General
    Procedures. If at any time on or after the date the Company consummates a Business Combination the Company is required to effect
    the Registration of Registrable Securities, the Company shall use its best efforts to effect such Registration to permit the sale
    of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall,
    as expeditiously as possible:

 

	 	3.1.1	prepare
    and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use
    its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities
    covered by such Registration Statement have been sold;
	 	 	 
	 	3.1.2	prepare
    and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to
    the Prospectus, as may be requested by any Holder or any Underwriter of Registrable Securities or as may be required by the rules,
    regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations
    thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are
    sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;
	 	 	 
	 	3.1.3	prior
    to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
    if any, and each Holder of Registrable Securities included in such Registration, and each such Holder’s legal counsel, copies
    of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
    including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement
    (including each preliminary Prospectus), and such other documents as the Underwriters and each Holder of Registrable Securities included
    in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable
    Securities owned by such Holders;

 

    	8

    	 

    

 

	 	3.1.4	prior
    to any public offering of Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities covered
    by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as
    any Holder of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may
    request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered
    with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company
    and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included
    in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided,
    however, that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not
    otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any
    such jurisdiction where it is not then otherwise so subject;
	 	 	 
	 	3.1.5	cause
    all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities
    issued by the Company are then listed;
	 	 	 
	 	3.1.6	provide
    a transfer agent or right agent, as applicable, and registrar for all such Registrable Securities no later than the effective date
    of such Registration Statement;
	 	 	 
	 	3.1.7	advise
    each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of
    any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of
    any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain
    its withdrawal if such stop order should be issued;
	 	 	 
	 	3.1.8	at
    least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
    Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish
    a copy thereof to each seller of such Registrable Securities and its counsel, including, without limitation, providing copies promptly
    upon receipt of any comment letters received with respect to any such Registration Statement or Prospectus;
	 	 	 
	 	3.1.9	notify
    the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities
    Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect,
    includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;
	 	 	 
	 	3.1.10	permit
    a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters,
    if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own expense,
    in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
    reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided,
    however, that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably
    satisfactory to the Company, prior to the release or disclosure of any such information; and provided further, the Company
    may not include the name of any Holder or Underwriter or any information regarding any Holder or Underwriter in any Registration
    Statement or Prospectus, any amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated
    by reference into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent
    of such Holder or Underwriter and providing each such Holder or Underwriter a reasonable amount of time to review and comment on
    such applicable document, which comments the Company shall include unless contrary to applicable law;

 

    	9

    	 

    

 

	 	3.1.11	obtain
    a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
    Registration which the participating Holders may rely on, in customary form and covering such matters of the type customarily covered
    by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest
    of the participating Holders;
	 	 	 
	 	3.1.12	on
    the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of
    counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent,
    if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion
    is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included
    in such opinions and negative assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;
	 	 	 
	 	3.1.13	in
    the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
    form, with the managing Underwriter of such offering;
	 	 	 
	 	3.1.14	make
    available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
    (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
    Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor
    rule promulgated thereafter by the Commission);
	 	 	 
	 	3.1.15	if
    the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $10,000,000, use its reasonable
    efforts to make available senior executives of the Company to participate in customary “road show” presentations that
    may be reasonably requested by the Underwriter in any Underwritten Offering; and
	 	 	 
	 	3.1.16	otherwise,
    in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
    with such Registration.

 

	3.2	Registration
    Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that
    the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
    commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
    Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.
	 	 
	3.3	Requirements
    for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of
    the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s
    securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary
    questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may
    be reasonably required under the terms of such underwriting arrangements.
	 	 
	3.4	Suspension
    of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
    a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies
    of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare
    and file such supplement or amendment as soon as practicable after the time of such notice), or until it is advised in writing by
    the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration
    Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the
    inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s
    control, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness
    of, or suspend use of, such Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined
    in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding
    sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus
    relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify
    the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.
	 	 

    	10

    	 

    

 

	3.5	Reporting
    Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting
    company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
    grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d)
    of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further
    covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time
    to enable such Holder to sell Ordinary Shares held by such Holder without registration under the Securities Act within the limitation
    of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the
    Commission), including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written
    certification of a duly authorized officer as to whether it has complied with such requirements.

 

ARTICLE
IV

INDEMNIFICATION AND CONTRIBUTION

 

	4.1	Indemnification.

 

	 	4.1.1	The
    Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and
    each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
    and expenses (including attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any
    Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged
    omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar
    as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein.
    The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within
    the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.
	 	 	 
	 	4.1.2	In
    connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
    to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such
    Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers
    and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages,
    liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting from any untrue statement of material
    fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto
    or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but
    only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by
    such Holder expressly for use therein; provided, however, that the obligation to indemnify shall be several, not joint
    and several, among such Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall
    be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such
    Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each
    person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing
    with respect to indemnification of the Company.

 

    	11

    	 

    

 

	 	4.1.3	Any
    person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
    to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification
    hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s
    reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim,
    permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party.
    If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified
    party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or
    elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel (plus local
    counsel) for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of
    any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with
    respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment
    or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying
    party pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving
    by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.
	 	 	 
	 	4.1.4	The
    indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
    on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the
    transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such
    provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or
    such Holder’s indemnification is unavailable for any reason.
	 	 	 
	 	4.1.5	If
    the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless
    an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying
    party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as
    a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault
    of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of
    the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question,
    including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was
    made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s
    and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action;
    provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount
    of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party
    as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth
    in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred
    by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable
    if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation,
    which does not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent
    misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to
    this subsection 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

    	12

    	 

    

 

ARTICLE
V

MISCELLANEOUS

 

	5.1	Notices.
    Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
    to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or
    by courier service providing evidence of delivery, or (iii) transmission by hand delivery, or facsimile. Each notice or communication
    that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received,
    in the case of mailed notices, on the third business day following the date on which it is mailed and, in the case of notices delivered
    by courier service, hand delivery, or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the
    affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under
    this Agreement must be addressed, if to the Company, to: 1800 Avenue of the Stars, Suite 1475, Los Angeles, CA 90067, and, if to
    any Holder, at such Holder’s address or contact information as set forth in the Company’s books and records. Any party
    may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change
    of address shall become effective thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

	5.2	Assignment;
    No Third Party Beneficiaries.

 

	 	5.2.1	This
    Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
    or in part.
	 	 	 
	 	5.2.2	Prior
    to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may
    assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in connection
    with a transfer of Registrable Securities by such Holder to a Permitted Transferee, but only if such Permitted Transferee agrees
    to become bound by the transfer restrictions set forth in this Agreement.
	 	 	 
	 	5.2.3	This
    Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
    and the permitted assigns of the Holders, which shall include Permitted Transferees.
	 	 	 
	 	5.2.4	This
    Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in
    this Agreement and Section 5.2 hereof.
	 	 	 
	 	5.2.5	No
    assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the
    Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1
    hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms
    and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer
    or assignment made other than as provided in this Section 5.2 shall be null and void.

 

	5.3	Counterparts.
    This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed
    an original, and all of which together shall constitute the same instrument, but only one of which need be produced.
	 	 
	5.4	Governing
    Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
    AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS
    AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS
    OF SUCH JURISDICTION AND (II) THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN
    NEW YORK COUNTY IN THE STATE OF NEW YORK.
	 	 
	5.5	Amendments
    and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable
    Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may
    be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding
    the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the
    shares of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent
    of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay
    on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any
    rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by
    a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

    	13

    	 

    

 

	5.6	Other
    Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities, has any
    right to require the Company to register any securities of the Company for sale or to include such securities of the Company in any
    Registration filed by the Company for the sale of securities for its own account or for the account of any other person. Further,
    the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar
    terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this
    Agreement shall prevail.
	 	 
	5.7	Term.
    This Agreement shall terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement or (ii) the date as of
    which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable
    period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter
    by the Commission)) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule
    144 (or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale.
    The provisions of Section 3.5 and Article IV shall survive any termination.

 

[Signature
Page Follows]

 

    	14

    	 

    

 

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

 

	 	COMPANY:
	 	 
	 	SUNFIRE
    ACQUISITION CORP LIMITED, a Cayman Islands exempted company
	 	 
	 	By:	 
	 	Name:	Thomas
    W. Neukranz
	 	Title:	Chief
    Executive Officer
	 	 
	 	HOLDER:
	 	 
	 	SUNFIRE
    SPONSOR, LLC, a Delaware limited liability company
	 	 
	 	By:	 
	 	Name:	Barry
    Kostiner
	 	Title:	Manager

 

[Signature
Page to Registration Rights Agreement]

 

    	15

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