Document:

Exhibit 10.1

 

Execution Version

 

SPONSOR SUPPORT AGREEMENT

 

This Sponsor Support Agreement
(this “Agreement”) is entered into on October 24, 2022 by VO Sponsor, LLC, a Delaware limited liability company (the
“Sponsor”), Sizzle Acquisition Corp., a Delaware corporation (“SPAC”) and European Lithium AT (Investments)
Limited, a BVI business company incorporated in the British Virgin Islands (the “Company”). The Sponsor, SPAC and the
Company are sometimes collectively referred to herein as the “Parties”, and each of them is sometimes individually
referred to herein as a “Party”. Capitalized terms used but not defined herein shall have the respective meanings ascribed
to such terms in the Merger Agreement referenced below.

 

RECITALS

 

WHEREAS, as of the date hereof,
the Sponsor is the holder of record and the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
6,147,750 SPAC Shares in the aggregate as set forth on Schedule I attached hereto (collectively, the “Subject Securities”).

 

WHEREAS, concurrently with
the Parties’ execution and delivery of this Agreement, SPAC, the Company, European Lithium Limited, an Australian Public Company
limited by shares, and the holder of all of the issued Company Ordinary Shares (“EUR”), Critical Metals Corp., a BVI
business company incorporated in the British Virgin Islands (“PubCo”) and Project Wolf Merger Sub Inc., a Delaware
corporation and a direct, wholly-owned subsidiary of PubCo (“Merger Sub”), have entered into an Agreement and Plan
of Merger, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Merger
Agreement”), pursuant to which, among other transactions, Merger Sub will merge with and into SPAC, with SPAC continuing on
as the surviving company, as a result of which SPAC will become a direct, wholly-owned subsidiary of PubCo.

 

WHEREAS, as an inducement to
SPAC and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the Parties desire to
agree to certain matters as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual agreements set forth herein, the Parties, intending to be legally bound, hereby agree as follows:

 

Article
I

COVENANTS AND AGREEMENTS

 

Section 1.1 No Transfer.
During the period commencing on the date hereof and ending on the earliest of (a) the Effective Time, (b) such date and time as the Merger
Agreement shall be validly terminated in accordance with Section 11.1 thereof and (c) the liquidation of SPAC (the earliest of
(a), (b) and (c), the “Expiration Time”), the Sponsor (and any other Person to which any Subject Securities are transferred)
shall not, without the prior written consent of the Company, (i) issue, sell, offer to sell, exchange, contract or agree to sell or exchange,
hypothecate, pledge, encumber, assign, convert, grant of any option to purchase or otherwise dispose of or agree to dispose of, directly
or indirectly, by operation of law or otherwise and whether voluntarily or involuntarily (collectively, “Transfer”),
or establish or increase a put equivalent position or liquidate with respect to or decrease a call equivalent position within the meaning
of Section 16 of the Exchange Act, and the rules and regulations of the SEC promulgated thereunder with respect to any Subject Securities
(unless the transferee agrees in advance or concurrently with the Transfer, in writing, to be bound by this Agreement), (ii) enter into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of any Subject Securities,
or (iii) file, confidentially submit or cause to become effective a registration statement under the Securities Act relating to the offer
and sale of any Subject Securities.

 

     

    

    

 

Section 1.2 New Shares.
In the event that (a) any SPAC Shares, SPAC Public Warrants or other equity securities of SPAC are issued to the Sponsor after the date
of this Agreement pursuant to any stock dividend, stock split, distribution, recapitalization, reclassification, combination, conversion
or exchange of SPAC Shares or SPAC Public Warrants of, on or affecting the SPAC Shares or SPAC Public Warrants owned by the Sponsor or
otherwise, (b) the Sponsor purchases or otherwise acquires beneficial ownership of any SPAC Shares, SPAC Public Warrants or other equity
securities of SPAC after the date of this Agreement, or (c) the Sponsor acquires the right to vote or share in the voting of any SPAC
Shares or other equity securities of SPAC after the date of this Agreement (such SPAC Shares, SPAC Public Warrants or other equity securities
of SPAC, collectively the “New Securities”), then, to the extent of the Sponsor’s control of such New Securities,
such New Securities shall be subject to the terms of this Agreement to the same extent as if they constituted the Subject Securities owned
by the Sponsor as of the date hereof.

 

Section 1.3 Closing Date
Deliverables. On the Closing Date, the Sponsor shall deliver to PubCo and EUR a duly executed copy of that certain Lock-Up Agreement,
by and between the Sponsor and PubCo, in substantially the form attached as Exhibit A hereto.

 

Section 1.4 Sponsor
Support Agreements. Prior to the Expiration Time, at any meeting of the stockholders of SPAC, however called, or at any
adjournment thereof, or in any other circumstance in which the vote, consent or other approval of the stockholders of SPAC is
sought, the Sponsor shall, solely in its capacity as a record owner of common stock of SPAC, (a) appear at each such meeting or
otherwise cause all of its SPAC Shares to be counted as present thereat for purposes of calculating a quorum and (b) vote (or cause
to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all of
its SPAC Shares:

 

(i) in favor of each
of the SPAC Transaction Proposals;

 

(ii) against any
proposal relating to a SPAC Competing Proposal (other than the SPAC Transaction Proposals);

 

(iii) against any merger
agreement or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale of substantial assets, reorganization,
recapitalization, dissolution, liquidation or winding up of or by SPAC;

 

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(iv) against any
material change in the business of SPAC or any change in the management or board of directors of SPAC (other than, in each case,
pursuant to the Merger Agreement or the other Transaction Agreements and the Transactions); and

 

(v) against any
proposal, action or agreement that would or would reasonably be expected to (a) in any material respect, impede, frustrate, hinder, interfere
with, prevent or nullify the timely consummation of, or otherwise adversely affect, any of the Transactions, (b) result in a breach in
any material respect of any covenant, representation, warranty or any other obligation or agreement of SPAC under the Merger Agreement
(without giving effect to any limitation as to “materiality” or “SPAC Material Adverse Effect” or any similar
limitation contain therein), (c) result in any of the conditions set forth in Article VIII of the Merger Agreement not being fulfilled
or (d) change in any manner the dividend policy or capitalization of, including the voting rights of any class of capital stock of, SPAC.

 

The Sponsor hereby agrees that it shall not commit
or agree to take any action inconsistent with the foregoing. In furtherance of, and without limiting the generality of, the foregoing,
the Sponsor hereby further agrees not to exercise any right to redeem any SPAC Shares for a pro rata portion of the Trust Account. The
obligations of the Sponsor hereunder shall apply whether or not the SPAC board of directors or other governing body or any committee,
subcommittee or subgroup thereof recommends any of the SPAC Transaction Proposals and whether or not the SPAC board of directors or other
governing body or any committee, subcommittee or subgroup thereof changes, withdraws, withholds, qualifies or modifies, or publicly proposes
to change, withdraw, withhold, qualify or modify, the SPAC board of directors’ recommendation to its stockholders.

 

Section 1.5 No Inconsistent
Agreement. The Sponsor hereby represents and covenants that the Sponsor has not entered into, and will not enter into, any Contract
that would, and will not modify or amend any Contract in a manner that would, in any material respect, restrict, limit or interfere with
the performance of the Sponsor’s obligations hereunder.

 

Section 1.6 No Further Amendment
of Insider Letter. Without the prior written consent of the Company, neither the Sponsor nor SPAC shall amend, terminate or otherwise
modify that certain letter agreement, dated as of November 3, 2021, by and among the Sponsor, certain members of the Sponsor’s board
of directors and/or management team party thereto and SPAC (the “Insider Letter Agreement”), without the Company’s
prior written consent.

 

Section 1.7 Non-Solicitation.
From the date hereof until the earlier of (i) the Closing and (ii) the valid termination of this Agreement pursuant to Section
3.1, the Sponsor will not, and the Sponsor will direct its Representatives not to, directly or indirectly, (a) solicit, initiate,
enter into or continue discussions, negotiations or transactions with, or encourage or respond to any inquiries or proposals by, or provide
any information to, any Person with respect to an EUR Competing Transaction (other than to inform such Person of the Sponsor’s
obligations pursuant to this Section 1.7 with respect to SPAC), (b) enter into any acquisition agreement, business combination
agreement, merger agreement or similar definitive agreement, or any letter of intent, memorandum of understanding or agreement in principle,
or any other agreement regarding, continue or otherwise participate in any discussions or negotiations regarding, or cooperate in any
way that would otherwise reasonably be expected to lead to an EUR Competing Transaction, or (c) commence, continue or renew any due diligence
investigation regarding an EUR Competing Transaction.

 

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Section 1.8 Sponsor Forfeiture.
Sponsor hereby agrees that, immediately prior to the Closing, Sponsor shall irrevocably forfeit and surrender 2,049,250 SPAC Shares to
SPAC (the “Sponsor Inducement Shares”) for no consideration as a contribution to the capital of SPAC and shall take
any other action requested by PubCo or the Company to evidence such forfeiture and surrender. For clarity, aside from the Sponsor Inducement
Shares, no SPAC Shares are otherwise subject to vesting or forfeiture in favor of SPAC for any reason or by any agreement or document,
other than specifically agreed in this Article I.

 

Article
II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1 Representations
and Warranties of the Sponsor. The Sponsor represents and warrants as of the date hereof to SPAC and the Company as follows:

 

(a) Organization; Due Authorization.
The Sponsor is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, formed,
organized or constituted, and the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
hereby are within the Sponsor’s limited liability company powers and have been duly authorized by all necessary corporate or other
organizational actions on the part of the Sponsor. This Agreement has been duly executed and delivered by the Sponsor and, assuming due
authorization, execution and delivery by the other Parties, this Agreement constitutes a legally valid and binding obligation of the Sponsor,
enforceable against the Sponsor in accordance with the terms hereof (except as enforceability may be limited by bankruptcy laws, other
similar laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance and
other equitable remedies).

 

(b) Ownership. As
of the date hereof, the Sponsor is the sole holder of record and beneficial owner (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of, and has good title to, and sole voting power with respect to, the number of Subject Securities listed in Schedule
I hereto (such SPAC Shares and such SPAC Public Warrants, collectively, the Sponsor’s “Owned
Securities”), and there exists no Liens or any other limitation or restriction (including any restriction on the right to
vote, sell or otherwise dispose of such SPAC Class Shares or SPAC Public Warrants), other than pursuant to (i) this Agreement, (ii)
the Insider Letter Agreement, (iii) the Organizational Documents of SPAC, (iv) the Merger Agreement or (v) applicable securities
laws. The Sponsor’s Owned Securities are the only equity securities in SPAC owned of record or beneficially by the Sponsor as
of the date of this Agreement, and none of the Sponsor’s Subject Securities are subject to any proxy, voting trust or other
agreement or arrangement with respect to the voting of such Subject Securities.

 

(c) No Conflicts. The
execution and delivery of this Agreement by the Sponsor does not, and the performance by the Sponsor of its obligations hereunder will
not, (i) conflict with or result in a violation of the Organizational Documents of the Sponsor or (ii) require any consent, waiver, filing,
notification, registration or approval that has not been given or other action that has not been taken by any Person (including under
any Contract binding upon the Sponsor or the Subject Securities).

 

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(d) Litigation.
There is no Legal Proceeding pending against the Sponsor before any arbitrator or any Governmental Entity, which in any manner
challenges or seeks to prevent, enjoin or materially delay the performance by the Sponsor of its obligations under this
Agreement.

 

(e) Brokerage Fees. Except
as disclosed in Section 5.22 of the Merger Agreement, no financial advisor, investment banker, broker or finder is entitled to any fee
or commission in connection with the Merger Agreement or the Closing, in each case, based upon any agreement or arrangement made by, or,
to the knowledge of the Sponsor, on behalf of, the Sponsor for which SPAC, EUR, the Company or any of the Company’s Subsidiaries
would have any obligation.

 

(f) Affiliate
Arrangements. Except as disclosed in the prospectus, dated November 3, 2021, filed in connection with SPAC’s initial
public offering or any subsequent SEC filings, neither the Sponsor nor any of its Affiliates is party to, or has any rights with
respect to or arising from, any material Contract with SPAC or any of its Subsidiaries.

 

(g) Acknowledgment. The
Sponsor understands and acknowledges that each of SPAC and the Company is entering into the Merger Agreement in reliance upon the Sponsor’s
execution and delivery of this Agreement.

 

Article
III

MISCELLANEOUS

 

Section 3.1 Termination.
This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier of (a) the Expiration Time
and (b) the execution and delivery of a written agreement providing for the termination of this Agreement executed by the Sponsor, SPAC
and the Company. Upon such termination of this Agreement, all obligations of the Parties under this Agreement will terminate, without
any liability or other obligation on the part of any Party to any Person in respect hereof or the transactions contemplated hereby, and
no Party shall have any claim against another (and no person shall have any rights against such Party), whether under contract, tort or
otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement shall not relieve or release
a Party from any obligations or liabilities arising out of such Party’s willful breach of this Agreement prior to such termination
or intentional fraud in the making of the representations and warranties in this Agreement. Notwithstanding the foregoing, this Article
III shall survive the termination of this Agreement.

 

Section 3.2 Assignment.
This Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the Parties and their respective heirs,
successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder will be assigned (including
by operation of law) without the prior written consent of the Parties. Any purported assignment or delegation not permitted under this
Section 3.2 shall be null and void.

 

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Section 3.3 Specific Performance.
The Parties agree that irreparable damage, for which monetary damages (even if available) may not be an adequate remedy, may occur in
the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached.
It is accordingly agreed that the Parties shall be entitled to seek an injunction or injunctions, specific performance and other equitable
relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Chancery Court
or any other state or federal court within the State of Delaware, this being in addition to any other remedy to which such Party is entitled
at law or in equity. Without limiting the foregoing, each Party agrees that it will not oppose the granting of an injunction, specific
performance or other equitable relief on the basis that (a) there is adequate remedy at law or (b) an award of specific performance is
not an appropriate remedy for any reason at law or in equity. Any Party seeking an order or injunction to prevent breaches and to enforce
specifically the terms and provisions of this Agreement shall not be required to provide any bond or other security in connection with
any such order or injunction.

 

Section 3.4 Amendment.
This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the execution and delivery
of a written agreement providing therefor executed by the Sponsor, SPAC and the Company.

 

Section 3.5 Waiver. No
failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single
or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The
rights and remedies of the Parties hereunder are cumulative and are not exclusive of any rights or remedies otherwise available to the
Parties. No waiver of any right, power or privilege hereunder shall be valid unless it is set forth in a written instrument executed and
delivered by the Party to be charged with such waiver.

 

Section 3.6 No Third-Party
Beneficiaries. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person,
other than the Parties and their respective heirs, successors and permitted assigns, any right or remedy under or by reason of this Agreement.

 

Section 3.7 Notices.
All notices and other communications among the Parties shall be in writing and shall be deemed to have been duly given (a) when delivered
in person, (b) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested,
postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight delivery service or (d) when e-mailed during normal
business hours (and otherwise as of the immediately following Business Day), addressed as follows:

 

If to SPAC prior to the Effective
Time, to:

 

Sizzle Acquisition Corpo.

4201 Georgia Avenue NW

Washington, D.C. 20011

Attention: Steve Salis

Email:ssalis@salisholdings.com

 

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with copies to (which shall
not constitute notice) to:

 

Ellenoff Grossman & Schole LLP

1345 6th Avenue

New York, New York 10105

Attention: Matthew A. Gray and

Stuart Neuhauser

Email: mgray@egsllp.com and sneuhauser@egsllp.com

 

If to SPAC following the Effective Time or to the Company,
to:

 

c/o European Lithium Ltd.

32 Harrogate Street

West Leederville, Western Australia, 6007

Attention: Tony Sage 

Email: TonyS@cyclonemetals.com

 

with a copy to:

 

White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Attn: James Hu, Oliver Wright

E-mail: james.hu@whitecase.com, oliver.wright@whitecase.com

 

If to the Sponsor, to:

 

Attention: Steve Salis

4201 Georgia Ave NW

Washington DC 20011

with a copy to:

 

Ellenoff Grossman & Schole LLP

1345 6th Avenue

New York, New York 10105

Attention: Matthew A. Gray and Stuart Neuhauser

Email: mgray@egsllp.com and sneuhauser@egsllp.com

 

Section 3.8 Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

Section 3.9 Other Provisions.
The provisions set forth in each of Sections 12.3 (Counterparts; Electronic Delivery), 12.6 (Severability), 12.8 (Governing
Law), 12.9 (Consent to Jurisdiction; Waiver of Jury Trial) and 12.10 (Rules of Construction) of the Merger Agreement
are incorporated herein by reference as if set forth herein, mutatis mutandis.

 

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Section 3.10 Publicity.
Except to the extent required by the rules and regulations of the SEC, the Exchange Act or the Securities Act, neither SPAC nor the Company
may disclose the identities of any direct or indirect members or investors of the Sponsor or their direct or indirect interests in the
Sponsor without the Sponsor’s prior written consent.

 

Section 3.11 Capacity as
a Stockholder. Notwithstanding anything herein to the contrary, the Sponsor signs this Agreement solely in its capacity as a record
owner of, or owner of interests representing the economic benefits of, common stock and warrants of SPAC, and not in any other capacity
and this Agreement shall not limit, prevent or otherwise affect the actions of the Sponsor or any Affiliate, employee or designee of the
Sponsor, or any of the Sponsor’s respective Affiliates in his or her capacity, if applicable, as an officer or director of SPAC
or any other Person, including in the exercise of his or her fiduciary duties as a director or officer of SPAC.

 

Section 3.12 No Challenges.
During the period commencing on the date hereof and ending at the Expiration Time, the Sponsor agrees not to commence, join in, facilitate,
assist or encourage, and agrees to take all actions within its power necessary to opt out of any class in any class action with respect
to, any claim, derivative or otherwise, against SPAC, Merger Sub, PubCo, EUR, the Company or any of their respective successors or directors
(except in any case arising out of the fraud of such parties) (a) challenging the validity of, or seeking to enjoin the operation of,
any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any person in connection with the evaluation, negotiation
or entry into the Merger Agreement. Notwithstanding the foregoing, nothing herein shall be deemed to prohibit the Sponsor from enforcing
the Sponsor’s rights under this Agreement and the other agreements entered into by the Sponsor in connection herewith, or otherwise
in connection with the Merger or the other transactions contemplated by the Merger Agreement.

 

Section 3.13 Further Assurances.
The Sponsor hereby agrees that it shall, from time to time, execute and deliver, or cause to be executed and delivered, such additional
or further consents, documents and other instruments, and will use reasonable best efforts to take, or cause to be taken, such actions,
and do, or cause to be done, and assist and cooperate with the other Parties in doing such things, in each case, as another Party may
reasonably request for the purpose of effectively carrying out the transactions contemplated by this Agreement and the Merger Agreement;
provided that Sponsor will not be obligated to: (a) pay any funds or incur any Liability or (b) forfeit any SPAC Shares or any other economic
benefits.

 

Section 3.14 Entire Agreement.
This Agreement and the Merger Agreement constitute the entire agreement and understanding of the Parties with respect to the subject matter
hereof and supersede all prior understandings, agreements and representations by or among the Parties to the extent they relate in any
way to the subject matter hereof.

 

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IN WITNESS WHEREOF, the Sponsor,
SPAC and the Company have each caused this Agreement to be duly executed as of the date first written above.

 

	 	SPONSOR:
	 	 	 
	 	VO
    SPONSOR, LLC
	 	 	 
	 	By:	/s/
Steve Salis
	 	Name: 	Steve
    Salis
	 	Title:
    	Managing
    Member

 

     

    

    

 

	 	SPAC:
	 	 	 
	 	SIZZLE ACQUISTION CORP.

	 	 	 
	 	By:	/s/
Steve Salis
	 	Name: 	Steve
    Salis
	 	Title:
    	Chief Executive Officer

  

     

    

    

 

	 	COMPANY:
	 	 
	 	EUROPEAN LITHIUM AT (INVESTMENTS) LTD.
	 	 	 
	 	By:	/s/ Malcolm Raymond Day
	 	Name:	Malcolm Raymond Day
	 	Title:	Director
	 	 	 
	 	By:	/s/ Anthony William Paul Sage
	 	Name:	Anthony William Paul Sage
	 	Title:	Director

 

     

    

    

 

Exhibit A

Form of Investors Agreement

 

     

    

    

 

Schedule I

SPAC Common Stock

 

	 Holder	 	 SPAC SHARES	 
	 VO Sponsor, LLC	 	 	6,147,750	 
	 Total:	 	 	6,147,750Exhibit 10.2

 

Execution Version

 

Dated October 24, 2022

 

Lock-up Agreement

 

by and among

 

VO Sponsor, LLC

as Sponsor

 

European Lithium Limited

as EUR

 

and

 

Critical Metals Corp.

as PubCo

 

 

 

 

 

     

     

    

 

LOCK-UP AGREEMENT

 

This Lock-up Agreement (this
“Agreement”) is entered into as of October 24, 2022, by and among VO Sponsor, LLC, a Delaware limited liability company
(the “Sponsor”), European Lithium Limited, an Australian Public Company limited by shares (“EUR”),
and Critical Metals Corp., BVI business company incorporated in the British Virgin Islands (“PubCo”). The Sponsor,
EUR, PubCo and their respective successors and permitted assigns are sometimes collectively referred to herein as the “Parties”,
and each of them is sometimes individually referred to herein as a “Party”. Capitalized terms used but not defined
herein shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS, Sizzle Acquisition
Corp., a Delaware corporation (“SPAC”), European Lithium AT (Investments) Limited, a BVI business company incorporated
in the British Virgin Islands and a direct, wholly-owned subsidiary of EUR (the “Company”), EUR, PubCo and Project
Wolf Merger Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of PubCo (“Merger Sub”), entered
into an Agreement and Plan of Merger, dated as of October 24, 2022 (as amended, restated, supplemented or otherwise modified from time
to time, the “Merger Agreement”);

 

WHEREAS, pursuant to the Merger
Agreement, at the Effective Time, upon the terms and subject to the conditions of this Agreement and in accordance with the Delaware General
Corporation Law, Merger Sub merged with and into SPAC (the “Merger”), with SPAC continuing as the surviving company
after the Merger, as a result of which SPAC became a direct, wholly-owned subsidiary of PubCo. As a result of the Merger, (a) each previously
issued and outstanding SPAC Share (other than any Excluded SPAC Shares) is no longer outstanding and has been automatically converted
into the right of the holder thereof to receive one (1) PubCo Share and (b) each previously outstanding whole SPAC Warrant has been assumed
by PubCo and will be exercisable, in accordance with the terms of the Assumed Warrant Agreement, for one (1) PubCo Share. Further, immediately
before the Effective Time, EUR sold and transferred all issued Company Ordinary Shares to PubCo, in consideration for (i) the issuance
of the Closing Share Consideration and (ii) the Earnout Consideration (subject, in the case of the Earnout Consideration, to the satisfaction
of the relevant conditions in Section 3.2 of the Merger Agreement), as a result of which the Company became a direct, wholly-owned subsidiary
of PubCo;

 

WHEREAS, as of immediately
after the Effective Time, EUR will be the holder of record and beneficial owner (as such term is defined in Rule 13d-3 promulgated under
the Exchange Act), with the sole power to dispose of (or sole power to cause the disposition of) and the sole power to vote (or sole power
to direct the voting of) Lockup Shares (as defined below);

 

WHEREAS, as of immediately
after the Effective Time, the Sponsor will be the holder of record and beneficial owner (as such term is defined in Rule 13d-3 promulgated
under the Exchange Act), with the sole power to dispose of (or sole power to cause the disposition of) and the sole power to vote (or
sole power to direct the voting of) Lockup Shares;

 

WHEREAS, in connection with
the Merger, the parties hereto wish to set forth herein certain understandings between such parties with respect to restrictions on the
transfer of equity interests in PubCo.

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending
to be legally bound hereby, the Parties hereby agree as follows:

 

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Article
I

Introductory Matters

 

Section
1.01 Defined Terms.
In addition to the terms defined elsewhere herein or defined under the Merger Agreement, the following terms have the following meanings
when used herein with initial capital letters:

 

“Covered Shares”
means all the PubCo Shares owned by a Holder from time to time, including any PubCo Shares issued as part of bonus share issuances, dividends
and distributions and any securities into which or for which any or all of the Covered Shares may be changed or exchanged or which are
received in any recapitalization, share exchange, share conversion or similar transactions.

 

“Holder”
shall refer to either the Sponsor or EUR and collectively they shall be referred to as “Holders”.

 

“Immediate Family”
means with respect to any Person, such Person’s spouse or partner (or former spouse or former partner), ancestors, descendants and
ascendants (whether by blood, marriage or adoption) or spouse of a descendant of such Person, brothers and sisters (whether by blood,
marriage or adoption).

 

“Investors Agreement”
means the Investors Agreement, dated on or about the date hereof (as amended, restated, supplemented or otherwise modified from time to
time).

 

“Lock-up Period”
means the period beginning on the Closing Date and ending on the date that is six (6) months after the Closing Date.

 

“Lock-up Shares”
means (a) with respect to EUR or each of its Permitted Transferees, the Covered Shares (i) received by EUR as Closing Share Consideration
and (ii) received by EUR as Earnout Consideration and (b) with respect to the Sponsor, (i) the Covered Shares it receives as Merger Consideration
with respect to the SPAC Shares that the Sponsor held immediately prior to the Effective Time and (ii) any Covered Shares issued to the
Sponsor in connection with the exercise or settlement of any SPAC Warrant or PubCo Warrant, in each case, together with any securities
paid as dividends or distributions with respect to such securities or into which such securities are exchanged or converted.

 

“Permitted Transferees”
means, prior to the expiration of the Lock-up Period, any Person to whom a Holder or any Permitted Transferee of such Holder is permitted
to Transfer PubCo Shares pursuant to Section 2.01(b) or Section 2.01(c).

 

“Transfer”
means the (A) sale of, public offer to sell, entry into a contract or agreement to sell, hypothecation or pledge of, grant of any option
to purchase or otherwise disposition of or agreement to dispose of, in each case, directly or indirectly, or establishment or increase
of a put equivalent position or liquidation with respect to or decrease of a call equivalent position with respect to, any security, (B)
entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (C) public announcement
of any intention to effect any transaction specified in clause (A) or (B).

 

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Article
II

LOCK-UP

 

Section 2.01 Lock-up.

 

(a)   Subject
to the exclusions in Section 2.01(b) and Section 2.01(c) each Holder, severally (and not jointly and severally), agrees
not to Transfer any Lock-up Shares until the end of the Lock-up Period (the “Lock-up”).

 

(b)   Notwithstanding
the Lock-up restrictions set forth in Section 2.01(a), each Holder may Transfer any Lock-up Shares it holds during the Lock-up
Period: (i) to any direct or indirect partners, members or equity holders of such Holder, any Affiliates of such Holder or any related
investment funds or vehicles controlled or managed by such Persons or their respective Affiliates; (ii) by gift to a charitable organization;
(iii) in the case of an individual, by gift to a member of the individual’s Immediate Family or to a trust, the primary beneficiaries
of which are one or more members of the individual’s Immediate Family or an Affiliate of such Person; (iv) in the case of a trust,
to the trustor or beneficiary of such trust or the estate of a beneficiary of such trust; (v) in the case of an individual, by will or
other testamentary document or device or by virtue of laws of descent and distribution upon death of the individual; (vi) in the case
of an individual, pursuant to a qualified domestic relations order; (vii) with the prior written consent of PubCo; (viii) in connection
with a liquidation, merger, stock exchange, reorganization, tender offer, takeover offer, scheme of arrangement or other similar transaction
which results in all of PubCo’s shareholders having the right to exchange their PubCo Shares for cash, securities or other property
subsequent to the Closing Date; or (ix) to the extent required by any legal or regulatory order; provided that in each case of
clauses (i)–(vii), if the transferee is not a Holder, such Transfer shall be subject to prior receipt by PubCo of a duly executed
joinder to the Investors Agreement substantially in the form of Exhibit A thereto.

 

(c)   Each
Holder also agrees and consents to the entry of stop transfer instructions with PubCo’s transfer agent and registrar against the
Transfer of any Lock-up Shares except in compliance with the foregoing restrictions and to the addition of a legend to such Holder’s
Lock-up Shares describing the foregoing restrictions.

 

(d)   For
the avoidance of doubt, each Holder shall retain all of its rights as a shareholder of PubCo with respect to the Lock-up Shares during
the Lock-up Period, including the right to vote any Lock-up Shares (subject to the other provisions hereof) and any dividends or other
distributions declared on the Lock-up Shares.

 

(e)   During
the Lock-Up Period each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a legend in substantially
the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF OCTOBER 24, 2022, BY AND AMONG
CRITICAL METALS CORP., VO SPONSOR, LLC AND EUROPEAN LITHIUM LIMITED, AS AMENDED. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT
CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

    4

     

    

 

Article
III

Effectiveness

 

Section 3.01 Effectiveness.
This Agreement shall become effective on the Closing Date. This Agreement and the obligations of each Party hereunder shall automatically
terminate ab initio upon the termination of the Merger Agreement.

 

Article
IV

Miscellaneous

 

Section 4.01 Miscellaneous.

 

(a)   Further
Assurances. The Parties shall execute and deliver such additional documents and take such additional actions as the Parties reasonably
may deem to be practical and necessary in order to consummate the transactions contemplated by this Agreement.

 

(b)   Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or sent by overnight
mail via a reputable overnight carrier, and shall be deemed to be given and received (i) when so delivered personally, (ii) when sent,
with no mail undeliverable or other rejection notice, if sent by email, or (iii) the next day when sent by overnight carrier to the address
below or to such other address or addresses as such person may hereafter designate by notice given hereunder:

 

(i)   If
to the Sponsor:

 

VO Sponsor, LLC

4201 Georgia Ave NW

Washington DC 20011

Attn: c/o Sizzle Acquisition
Corp.

4201 Georgia Ave NW, Washington
DC 20011

E-mail: ssalis@salisholdings.com

 

with a copy (which
shall not constitute notice) to:

 

White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Attn: James Hu and Oliver Wright

E-mail: james.hu@whitecase.com,
oliver.wright@whitecase.com

 

(ii)   If
to EUR:

 

European Lithium Ltd.

32 Harrogate Street

West Leederville, Western Australia,
6007

Attention: Tony Sage  

Email: TonyS@cyclonemetals.com

 

with copies (which shall not
constitute notice) to:

 

Steinepreis Paganin

Level 4, The Read Buildings,
16 Milligan Street

Perth, WA 6000, Australia

Attention: Mark Foster; Nicholas
Barclay

Email: MFoster@steinpag.com.au;
NBarclay@steinpag.com.au

 

    5

     

    

 

(iii)   If
to PubCo:

 

c/o European Lithium Ltd.

32 Harrogate Street

West Leederville, Western Australia,
6007

Attention: Tony Sage

Email: TonyS@cyclonemetals.com

 

with copies (which shall not
constitute notice) to:

 

White & Case LLC

1221 Avenue of the Americas

New York, New York 10020

Attention: James Hu; Oliver
Wright

Email: james.hu@whitecase.com;
oliver.wright@whitecase.com

 

And

 

White & Case LLP

609 Main Street, Suite 2900

Houston, TX 77002

Attention: Jason Rocha

Email: Jason.rocha@whitecase.com

 

(c)   Rules
of Construction. Each of the Parties agrees that it has been represented by independent counsel of its choice during the negotiation
and execution of this Agreement and each Party and its counsel cooperated in the drafting and preparation of this Agreement and the documents
referred to herein and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities
in an agreement or other document will be construed against the Party drafting such agreement or document. The words “hereof,”
“herein,” “hereinafter,” “hereunder,” and “hereto” and words of similar import refer to
this Agreement as a whole and not to any particular section or subsection of this Agreement and reference to a particular section of this
Agreement will include all subsections thereof, unless, in each case, the context otherwise requires. The definitions of the terms herein
shall apply equally to the singular and plural forms of the terms defined. Whenever the context shall require, any pronoun shall include
the corresponding masculine, feminine and neuter forms. Unless otherwise indicated the words “include,” “includes”
and “including” when used herein shall be deemed in each case to be followed by the words “without limitation.”
References to Sections and Exhibits are to sections of, and exhibits to, this Agreement. The Exhibits form part of this Agreement. Any
reference to “writing” or “written” means any method of reproducing words in a legible and non-transitory form.
References to a “company” include any company, corporation or other body corporate wherever and however incorporated or established.
The table of contents and headings are inserted for convenience only and do not affect the construction of this Agreement. Unless the
context otherwise requires, words in the singular include the plural and vice versa and a reference to any gender includes all other genders.
References to any statute or statutory provision include a reference to that statute or statutory provision as amended, consolidated or
replaced from time to time (whether before or after the date of this Agreement) and include any subordinate legislation made under the
relevant statute or statutory provision.

 

    6

     

    

 

(d)   Third
Party Rights. This Agreement is made for the benefit of the Parties and the Permitted Transferees (and their respective successors
and permitted assigns) and is not intended to confer upon any other Person any rights or remedies.

 

(e)   Severance
and Validity. If any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any
jurisdiction, it shall be deemed to be severed from this Agreement. The remaining provisions will remain in full force in that jurisdiction
and all provisions will continue in full force in any other jurisdiction.

 

(f)   Counterparts.
This Agreement may be executed in counterparts and shall be effective when each Party has executed and delivered a counterpart. Each counterpart
shall constitute an original of this Agreement, but all the counterparts shall together constitute one and the same instrument.

 

(g)   Entire
Agreement. This Agreement and the Merger Agreement constitute the entire agreement and understanding of the Parties with respect to
the subject matter hereof and supersede all prior understandings, agreements and representations by or among the Parties to the extent
they relate in any way to the subject matter hereof.

 

(h)   Modifications
and Amendments. This Agreement may not be amended, modified, supplemented or waived (i) except by an instrument in writing, signed
by the Party against whom enforcement of such amendment, modification, supplement or waiver is sought and (ii) without the prior written
consent of PubCo, the Sponsor and EUR.

 

(i)   Assignment.
Except for transfers permitted by Article II, neither this Agreement nor any rights, interests or obligations that may accrue to
the Parties may be transferred or assigned without the prior written consent of each of the other Parties. Any such assignment without
such consent shall be null and void. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties and
their respective successors and permitted assigns.

 

(j)   No
Waiver of Rights, Powers and Remedies. No failure or delay by a Party in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such Party. No single
or partial exercise of any right, power or remedy under this Agreement by a Party, nor any abandonment or discontinuance of steps to enforce
any such right, power or remedy, shall preclude such Party from any other or further exercise thereof or the exercise of any other right,
power or remedy hereunder. The election of any remedy by a Party shall not constitute a waiver of the right of such Party to pursue other
available remedies. No notice to or demand on a Party not expressly required under this Agreement shall entitle the Party receiving such
notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
Party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

(k)   Remedies.

 

(i)   The
Parties agree that irreparable damage may occur if this Agreement was not performed and that money damages or other legal remedies may
not be an adequate remedy for any such damage. It is accordingly agreed that the Parties shall be entitled to seek equitable relief, including
in the form of an injunction or injunctions, to prevent breaches or threatened breaches of this Agreement and to enforce specifically
the terms and provisions of this Agreement, without proof of actual damages or the inadequacy of monetary damages as a remedy, in an appropriate
court of competent jurisdiction as set forth in Section 4.01(n) this being in addition to any other remedy to which any Party is
entitled at law or in equity, including money damages. The Parties further agree (i) to waive any requirement for the security or posting
of any bond in connection with any such equitable remedy, (ii) not to assert that a remedy of specific enforcement pursuant to this Section
4.01(k) is unenforceable, invalid, contrary to applicable law or inequitable for any reason, and (iii) to waive any defenses in any
action for specific performance, including the defense that a remedy at law would be adequate.

 

    7

     

    

 

(ii)   The
Parties acknowledge and agree that this Section 4.01(k) is an integral part of the transactions contemplated hereby and without
that right, the Parties would not have entered into this Agreement.

 

(iii)   In
any dispute arising out of or related to this Agreement, or any other agreement, document, instrument or certificate contemplated hereby,
or any transactions contemplated hereby or thereby, the applicable adjudicating body shall award to the prevailing Party, if any, the
costs and attorneys’ fees reasonably incurred by the prevailing Party in connection with the dispute and the enforcement of its
rights under this Agreement or any other agreement, document, instrument or certificate contemplated hereby and, if the adjudicating body
determines a Party to be the prevailing Party under circumstances where the prevailing Party won on some but not all of the claims and
counterclaims, the adjudicating body may award the prevailing Party an appropriate percentage of the costs and attorneys’ fees reasonably
incurred by the prevailing Party in connection with the adjudication and the enforcement of its rights under this Agreement or any other
agreement, document, instrument or certificate contemplated hereby or thereby.

 

(l)   No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in PubCo any direct or indirect ownership or incidence
of ownership of or with respect to any Covered Shares.

 

(m)   No
Partnership, Agency or Joint Venture. This Agreement is intended to create a contractual relationship between the Sponsor, PubCo and
EUR, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship between or among
the Parties.

 

(n)   Governing
Law and Jurisdiction. Each of the Parties irrevocably consents to the exclusive jurisdiction and venue of the Chancery Court of the
State of Delaware, or if such court declines jurisdiction, then to any federal court located in Wilmington, Delaware and, in either case,
any appellate court therefrom in connection with any matter based upon or arising out of this Agreement, agrees that process may be served
upon them in any manner authorized by the laws of the State of Delaware for such Person and waives and covenants not to assert or plead
any objection which they might otherwise have to such manner of service of process. Each Party and any Person asserting rights as a third-party
beneficiary may do so only if he, she or it hereby waives, and shall not assert as a defense in any legal dispute, that: (i) such Person
is not personally subject to the jurisdiction of the above named courts for any reason; (ii) such Legal Proceeding may not be brought
or is not maintainable in such court; (iii) such Person’s property is exempt or immune from execution; (iv) such Legal Proceeding
is brought in an inconvenient forum; or (v) the venue of such Legal Proceeding is improper. Each Party and any Person asserting rights
as a third-party beneficiary hereby agrees not to commence or prosecute any such action, claim, cause of action or suit other than before
one of the above-named courts, nor to make any motion or take any other action seeking or intending to cause the transfer or removal of
any such action, claim, cause of action or suit to any court other than one of the above-named courts, whether on the grounds of inconvenient
forum or otherwise. Each Party hereby consents to service of process in any such proceeding in any manner permitted by Delaware law, and
further consents to service of process by nationally recognized overnight courier service guaranteeing overnight delivery, or by registered
or certified mail, return receipt requested, at its address specified pursuant to Section 4.01(b). Notwithstanding the foregoing
in this Section 4.01(n), any Party may commence any action, claim, cause of action or suit in a court other than the above-named
courts solely for the purpose of enforcing an order or judgment issued by one of the above-named courts.

 

(o)   No
Recourse. Notwithstanding anything to the contrary contained herein or otherwise, but without limiting any provision in the Merger
Agreement or any other transaction document, this Agreement may only be enforced against, and any claims or causes of action that may
be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement or the transactions
contemplated hereby, may only be made against the entities and Persons that are expressly identified as parties to this Agreement in their
capacities as such and no former, current or future shareholders, equity holders, controlling persons, directors, officers, employees,
general or limited partners, members, managers, agents or affiliates of any Party, or any former, current or future direct or indirect
shareholder, equity holder, controlling person, director, officer, employee, general or limited partner, member, manager, agent or affiliate
of any of the foregoing (each, a “Non-Recourse Party”) shall have any liability for any obligations or liabilities
of the Parties or for any claim (whether in tort, contract or otherwise) based on, in respect of, or by reason of, the transactions contemplated
hereby or in respect of any oral representations made or alleged to be made in connection herewith. Without limiting the rights of any
Party against the other Parties, in no event shall any Party or any of its affiliates seek to enforce this Agreement against, make any
claims for breach of this Agreement against, or seek to recover monetary damages from, any Non-Recourse Party.

 

[Signature Page Follows]

 

    8

     

    

 

IN WITNESS WHEREOF,
the Parties have executed or caused this Lock-up Agreement to be executed by its duly authorized representative as of the date first set
forth above.

 

	SPONSOR:	 
	 	 	 
	VO Sponsor, LLC	 
	 	 	 
	By:	/s/ Steve Salis	 
	Name: 	Steve Salis 	 
	Title:	Managing Member	 

 

    9

     

    

 

IN WITNESS WHEREOF,
the Parties have executed or caused this Lock-up Agreement to be executed by its duly authorized representative as of the date set forth
below.

 

EUR:

 

EXECUTED by EUROPEAN LITHIUM LIMITED (ACN 141 450 624) in accordance
with the requirements of section 127 of the Corporations Act 2001 (Cth) by:

 

	By:	 /s/ Tony Sage	 
	Name: 	Tony Sage	 
	Title: 	Executive Chairman	 

 

	By: 	/s/ Melissa Chapman	 
	Name: 	 Melissa Chapman	 
	Title: 	Company Secretary	 

 

    10

     

    

 

IN WITNESS WHEREOF,
the Parties have executed or caused this Lock-up Agreement to be executed by its duly authorized representative as of the date set forth
below.

 

	PUBCO:	 
	 	 
	Critical Metals Corp.	 
	 	 
	By:	/s/ Michael John Hanson	 
	Name:  	Michael John Hanson 	 
	Title: 	Authorized Person	 

 

 

11

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