Document:

Exhibit 10.1

    

    
      

      

      ASSIGNMENT AGREEMENT

       

      THIS ASSIGNMENT AGREEMENT (this “Agreement”) is entered into effective as of April 1st, 2021, by and among Adani Solar USA Inc., a Delaware corporation (“ASU”), Oakwood Construction Services Inc., a
        Delaware corporation (“OAKWOOD”), and iSun Utility,  LLC , a Delaware limited liability company (“ISUN”).

       

      BACKGROUND

       

      WHEREAS, ASU is majority-owned, fifty-one percent (51%), by Adani Green Energy Ltd., an Indian entity (“AGEL”), and minority-owned, forty-nine percent (49%), by Adani Global PTE, a Singapore
        entity (“AGPTE”), and AGEL and AGPTE, the stockholders of ASU are collectively referred to as  (“ADANI”);

      

      

      WEREAS; ASU operates the United States solar development line of business for ADANI;

      

      

      WHEREAS, OAKWOOD is a wholly-owned subsidiary of ASU and OAKWOOD is the engineering, procurement, and construction self-performing affiliate of ASU;

      

      

      WHEREAS, OAKWOOD, in association with its operations, created and developed Intellectual Property, (“IP”) as defined in Section 2 below, including, but not limited to items expressly listed
        in Section 2 below;

      

      

      WHEREAS, ASU, as the sole stockholder of OAKWOOD contributed all of its solar business-related IP to OAKWOOD which owns all of the solar business-related IP of ASU.

       

      WHEREAS ASU and OAKWOOD now desire to cease operating their respective lines of business, consisting of development of solar photovoltaic power generation projects and construction of such
        projects, and together, as (“ASSIGNOR”), desire to enter into this Agreement to assign, transfer and convey all of its right, title and interest in the OAKWOOD IP; and

      

      

      WHEREAS ISUN (“ASSIGNEE”) desires to enter into this Agreement and acquire the entire right, title and interest in the OAKWOOD IP.

      

      

      NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, subject to the terms and conditions of this Agreement, the parties agree as
        follows:

      

      

      	 	1.	
              Assignment and Purchase Price.

            

       

      	 	A.	
              ASSIGNOR, subject to the payment of one million dollars ($1,000,000) to ASU on or before April 5, 2021 (the “OAKWOOD IP PAYMENT #1”), does hereby agree to convey, transfer and assign to
                ASSIGNEE, free and clear of any and all liens, claims and encumbrances, all of ASSIGNOR’s, respective, right, title and interest in and to the IP (as defined in Section 2 below) owned by ASU and currently being used by OAKWOOD, including
                all tangible evidence of such IP, and ASSIGNEE hereby accepts assignment of such IP, including all such tangible evidence, on the terms and conditions specified herein. The delivery of the IP is hereby constructively made to ISUN as of the
                date hereof, for the benefit of ISUN and its successors and permitted assigns.

            

      
         

        

      

      
        Page 1 of 8

        
          

      

      	

            	B.	
              ASSIGNOR does hereby agree to convey, transfer and assign all of its rights title and interest in and to the HARTSEL PROJECT (defined below), and ASSIGNEE, does hereby agree to acquire the HARTSEL PROJECT, subject to the following terms:

            

      

      

      
        
          	 	
                  i.

                	
                  In association with the assignment of the HARTSEL PROJECT,  ASU and ISUN, and/or their respective affiliate, will enter into and execute definitive agreements for the assignment of all of the membership
                    interests of Hartsel Solar, LLC, including, but not limited to execution of a Membership Interest Purchase Agreement (“MIPA”) with terms and conditions commensurate with such transaction, substantially in the form attached hereto as EXHIBIT A, but expressly upon ASU’s and ISUN’s respective acknowledgement and agreement of a purchase and sale price of one dollar ($1), and assignment, including, but not limited to, those certain:
                    (i) Hartsel Solar, LLC Power Purchase Agreement (“PPA”), (ii) land agreements, (iii) Interconnection rights, and (iv) DeltaStar transformer;

                

        

      

       

      	

            	ii.	
              Within two (2) business days of both: (a) execution of the MIPA and (b) approval of the assignment of the PPA by the Public Service Company of Colorado (Xcel), ISUN will: (1) pay to ASU seven hundred and eight thousand dollars ($708,000) (“OAKWOOD IP PAYMENT #2”) and (2) replace ADANI’s Letter of Credit under the PPA, securing the HARTSEL PROJECT;

            

       

      	

            	iii.	
              Further, following execution of the MIPA and conditioned upon the HARTSEL PROJECT achieving the successful issuance of building permits (for which ISUN agrees to provide immediate, i.e. within thirty-six (36)
                hours of ISUN becoming aware or being put on notice of such achievement, notice to ASU pursuant to Section 8, below), ISUN will pay to ASU, within two (2) business days of such achievement, an additional one

                    million dollars ($1,000,000) (“OAKWOOD IP PAYMENT #3”), such payment to be referenced under the MIPA as the “HARTSEL SUCCESS PAYMENT”;

            

       

      	

            	iv.	
              Also, ASU and ISUN each acknowledge and agree that under the MIPA all development expenses incurred by HARTSEL SOLAR, LLC prior to the execution date of the MIPA will be borne by ADANI, but all development
                expenses incurred by HARTSEL SOLAR, LLC after the execution date of the MIPA will be borne by ISUN.

            

       

      
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                2.

              	
                Intellectual Property.    The intellectual property assigned under this Agreement is the following (collectively, the “IP”):

              

      

       

      	

            	A.	
              all prior work, operating history and project references, client lists, inventions, ideas, concepts, processes, data, programs, know-how, trade secrets, improvements, discoveries, developments and techniques relating to the business of
                OAKWOOD, including, but not limited to, the development and project of Hartsel Solar LLC, a wholly-owned subsidiary of ASU (the “HARTSEL PROJECT”);

            

       

      	

            	B.	
              all trademarks, logos, designs, artwork and other copyrightable work relating to the business of OAKWOOD, websites, URLs, social media accounts, together with the goodwill of the business connected with the use of and symbolized thereby
                and all renewals thereof;

            

       

      	

            	C.	
              all rights of any kind whatsoever of accruing under any of the foregoing provided by applicable law of any jurisdiction, by international treaties and conventions and otherwise throughout the world;

            

       

      3.           Further Assurances. If, following the date of this Agreement, any further assignments, conveyances or assurances in law are necessary or desirable to vest, perfect or confirm
        of record the title to any of the IP pursuant to the terms hereof, or otherwise to carry out the provisions of this Agreement, including, without limitation, the assignment documents required for filing with any governmental or regulatory office or
        filing and such foreign filings, each of the parties shall execute and deliver any and all proper assignments, powers of attorney and assurances in law, and do all things necessary or proper to vest, perfect or confirm title to such property or
        rights as set forth in this Agreement and otherwise to carry out the provisions of this Agreement.

       

      4.           IP License to Assignor. Non-Solicit  Effective upon the payment of the OAKWOOD IP PAYMENT #1 and the conveyance, transfer and assignment of the IP to Assignee, the
        Assignee grants to ASU and OAKWOOD a non-exclusive, royalty-free, non-transferrable and non-sublicensable license in the U.S. (subject to Assignor fulfilling all its obligations pursuant to this Agreement) to use the IP related to prior work,
        operating history and project references and solely limited to the extent necessary to: (i) service existing commercial obligations under those certain engineering, procurement and construction agreements stated in EXHIBIT

          B, attached hereto, and (ii) permit ASU and OAKWOOD to perform ADANI majority-owned or -controlled, related-party, affiliate (non-third-party) solar development and engineering, procurement, and construction services in the U.S. For the
        sake of clarity, the parties acknowledge and agree that nothing in this Agreement precludes or prevents ASU and OAKWOOD from performing ADANI majority-owned or -controlled, related-party, affiliate solar development and engineering, procurement,
        and construction services in the U.S. Assignor agrees not to solicit for employment by it or its affiliates any current or future employees of Assignee or its affiliates.

       

      

      
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      5.           No Waiver. No failure of a party hereto to exercise, and no delay by a party hereto in exercising, any right or remedy under this Agreement shall constitute a waiver of such
        right or remedy. No waiver by a party hereto of any such right or remedy under this Agreement shall be effective unless made in a writing duly executed by the applicable party and specifically referring to each such right or remedy being waived.

       

      6.           Applicable Law; Consent to Jurisdiction. This Agreement, the rights and obligations of the parties hereto and any claims and disputes relating thereto shall be subject to and
        governed by the laws of the State of New York, without regard to conflicts of laws principles. Each of the parties consent to personal and subject matter jurisdiction with respect to any dispute under this Agreement and any agreements contemplated
        by this Agreement in the United States District Court for the Southern District of New York located in New York, New York.

       

      7.           Assignment; Successors in Interest.    No party hereto may assign or transfer any of its rights or obligations under this Agreement without the prior written consent of the
        other party hereto, and any such assignment or transfer without such written consent shall be null, void and of no effect, provided that in connection with a sale of substantially all assets, a change of control, or an assignment by operation of
        law, ISUN may freely assign or transfer this Agreement, and/or any of ASU’s or OAKWOOD’s rights under this Agreement, without consent. The covenants, agreements, terms and provisions of this Agreement shall be binding upon and inure to the benefit
        of each party hereto and, to the extent expressly permitted by this Agreement, their respective successors and permitted assigns.

       

      8.           Notices. All notices, requests, consents, and other communications to be given and delivered under or by reason of this Agreement shall be in writing, forwarded to the parties
        at the addresses set forth below and shall be deemed for purposes of this Agreement to have been delivered: (a) on the date of actual receipt if delivered personally to the recipient; (b) three (3) days after mailing by first class mail, postage
        prepaid; (c) one (1) day after the date of transmission by email, electronic facsimile transmission; or (d) two (2) days after deposit with a reputable overnight courier service.

       

      
        	
                To ASU:

              	
                1125 Executive Circle, Suite #130

              
	 	
                Irving, TX 75038

              
	 	
                sudipta.bhattacharya@adani.com

              
	 	 
	
                To OAKWOOD:

              	
                1125 Executive Circle, Suite #130

              
	 	
                Irving, TX 75038

              
	 	
                sudipta.bhattacharya@adani.com

              
	 	 
	
                To ISUN:

              	
                400 Avenue D, Suite 10

              
	 	
                Williston, VT 05495

              
	 	
                jeff@isunenergy.com

              

      

       

      9.           Severability.    Any provision of this Agreement which is deemed invalid, illegal or unenforceable in any respect in any jurisdiction shall, as to such jurisdiction, be
        ineffective to the extent of such invalidity, illegality or unenforceability without in any way affecting the validity, legality or enforceability of the remaining provisions of this Agreement, and any such invalidity, illegality or
        unenforceability in any jurisdiction shall not invalidate or in any way affect the validity, legality or enforceability of such provisions in any other jurisdiction.

       

      

      
        Page 4 of 8

        
          

      

      10.          Headings. The headings in this Agreement are inserted for convenience and identification only and are in no way intended to describe, interpret, define or limit the scope,
        extent or intent of this Agreement or any provision of this Agreement.

       

      11.          Rights and Remedies Cumulative. The rights and remedies provided by this Agreement are given in addition to any other rights and remedies any of the parties hereto may have by
        law, statute, ordinance or otherwise; provided, however the parties acknowledge that any breach of this Agreement by Assignor may result in material and irreparable injury to the Assignee for which there is no adequate remedy at law and it may not
        be possible to measure damages for such injuries precisely. In the event of a breach of this Agreement, the Assignee shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction restraining Assignor from
        further violations. All such rights and remedies are intended to be cumulative and the exercise of any one right or remedy by any party hereto shall not preclude or waive such party’s right to exercise any or all other rights or remedies.

      

      

      12.         Entire Agreement. This Agreement and the MIPA and the documents delivered in connection therewith contain the entire understanding of the parties with respect to the subject
        matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such matter.

       

      13.         Execution in Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be considered an original and all of which, taken together, shall
        constitute one and the same agreement. Facsimile or electronic copies of signed counterparts shall have the same effect as original signatures.

       

      [Signature page follows]

      

      

      
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      IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first hereinabove written.

       

      	 	
              ADANI SOLAR USA INC.

            
	 	  
	 	
              By:

            	/s/ Sudipta Bhattacharya 	 
	 	 	 	 
	 	
              Name: Sudipta Bhattacharya

              

            	 
	 	
              Title: President and CEO

              

            	 

      

      

      	 	
              
                OAKWOOD CONSTRUCTION SERVICES INC.

              

            

      

      

      	 	
              By:

            	/s/ Sudipta Bhattacharya 	 
	 	 	 	 
	 	
              Name: Sudipta Bhattacharya

            	 
	 	
              Title: Authorized Representative

              

            	 

      

      

      	 	
              ISUN UTILITY, LLC

            
	 	 
	 	
              By: iSun, Inc., Member

            
	 	  
	 	
              By:

            	/s/ Jeffrey Peck

            	 
	 	
              Name: Jeffrey Peck

            
	 	
              Title: President and CEO

            

      

      

      
        Page 6 of 8

        
          

      

      EXHIBIT A

       

      FORM MIPA

       

      

      
        Page 7 of 8

        
          

      

      EXHIBIT B

       

      OAKWOOD EXISTING EPC AGREEMENTS

       

      	

            	1.	
              Engineering, Procurement and Construction Agreement, by and between Midlands Solar LLC and Oakwood Construction Services, Inc., dated as of March 11, 2019, as amended.

            

       

      	

            	2.	
              Engineering, Procurement and Construction Agreement, by and between Sigurd Solar LLC and Oakwood Construction Services, Inc., dated as of November 19, 2019, as amended.

            

      

      

      

      

      Page 8 of 8Exhibit 4.1 

 

	NUMBER	UNITS
	U	 

    SEE REVERSE FOR CERTAIN DEFINITIONS

 

CUSIP              

 

GRAF ACQUISITION CORP. II

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK
AND ONE-FIFTH OF ONE REDEEMABLE 

WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER TO PURCHASE ONE SHARE OF COMMON

 STOCK

 

THIS CERTIFIES THAT                is the owner of              Units.

 

Each Unit (“Unit”) consists of one share
of common stock, par value $0.0001 per share (“Common Stock”), of Graf Acquisition Corp. II, a Delaware corporation
(the “Company”), and one-fifth of one redeemable warrant (the “Warrant”). Each whole
Warrant entitles the holder to purchase one share of Common Stock for $11.50 per share (subject to adjustment). Only whole Warrants are
exercisable. Each whole Warrant will become exercisable thirty (30) days after the Company’s completion of a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses (each a
 “Business Combination”), and will expire unless exercised before 5:00 p.m., New York City Time, on the date
that is five (5) years after the date on which the Company completes its initial Business Combination, or earlier upon redemption or liquidation
(the “Expiration Date”). The Common Stock and Warrants comprising the Units represented by this certificate
are not transferable separately prior to , 2021, unless J.P. Morgan Securities LLC and Oppenheimer & Co. Inc. elect to allow separate
trading earlier, subject to the Company’s filing of a Current Report on Form 8-K with the Securities and Exchange Commission containing
an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the Company’s initial public offering and
issuing a press release announcing when separate trading will begin. No fractional Warrants will be issued upon separation of the Units.
The terms of the Warrants are governed by a Warrant Agreement, dated as of , 2021, between the Company and Continental Stock Transfer
 & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions
the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant
Agent at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant holder on written request and without
cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and registered by the Registrar of the Company.

 

This certificate shall be governed by and construed
in accordance with the internal laws of the State of New York.

 

Witness the facsimile signature of a duly authorized
signatory of the Company.

 

	 	 	 
	Authorized Signatory	 	Transfer Agent

 

    

     

    

 

GRAF ACQUISITION CORP. II

 

The Company will furnish without charge to each
unitholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional or other special
rights of each class of equity or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights.

 

The following abbreviations, when used in the
inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or
regulations:

 

	TEN COM — as tenants in common
  	UNIF GIFT MIN ACT	 	Custodian	 
	TEN ENT   —  as tenants by the entireties	 	 	(Cust)	(Minor)	 
	JT TEN       —   as joint tenants with right of	 	 	 	 
	                               survivorship and not as
  	 	 	under Uniform Gifts to Minors Act	 
	tenants in common	 	 	 	 
	 	 	 	 	 
	 	 	 	(State)	 
	 	 	 	 	 

 

Additional abbreviations may also be used
though not in the above list.

 

For value received, hereby sell, assign
and transfer unto

 

(PLEASE INSERT
SOCIAL SECURITY OR OTHER DENTIFYING NUMBER 

OF ASSIGNEE)

 

(PLEASE PRINT
OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP

 CODE, OF ASSIGNEE)

 

Units represented by the within Certificate, and do hereby
irrevocably constitute and appoint

 

Attorney to transfer the said Units
on the books of the within named Company with full power of substitution in the premises.

 

	Dated	 
	 	 
	 	Notice: The signature to this assignment must correspond
    with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.
	 	 
	Signature(s) Guaranteed:	 
	 	 
	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).	 

 

    

     

    

 

As more fully described in, and subject to the terms and conditions
described in, the Company’s final prospectus for its initial public offering dated              , 2021, the holder(s) of this certificate shall
be entitled to receive a pro rata portion of certain funds held in the trust account established in connection with the Company’s
initial public offering only in the event that (i) the Company redeems the shares of Common Stock sold in the Company’s initial
public offering and liquidates because it does not consummate an initial business combination by the date set forth (the “Last Date”)
in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the “Charter”),
(ii) the Company redeems the shares of Common Stock sold in its initial public offering properly submitted in connection with a stockholder
vote to amend the Charter to modify the substance or timing of the Company’s obligation to redeem 100% of the Common Stock if it
does not consummate an initial business combination by the Last Date or with respect to any other material provisions relating to stockholders’
rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash his, her or its respective shares
of Common Stock in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks stockholder approval of
the proposed initial business combination) setting forth the details of a proposed initial business combination. In no other circumstances
shall the holder(s) have any right or interest of any kind in or to the trust account.

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