Document:

Exhibit
10.1

 

PATENT
PURCHASE AGREEMENT

 

This
Patent Purchase Agreement (“Agreement”) is made and entered into as of the Closing Date, as defined below,
by and between Circle Technology, Inc., a Washington corporation having a principal place of business at 2926 NW 12th Ave, Camas,
WA 98607 (“Seller”), and Boxlight Corporation, a Nevada corporation having a principal place of business at
1045 Progress Circle, Lawrenceville, GA 30024 (“Buyer”), each of Seller and Buyer a “Party”,
and collectively, the “Parties.”

 

WHEREAS,
Seller is the sole and exclusive owner of all right, title and interest in and to certain Transferred Patent Assets (as defined
below);

 

WHEREAS,
Seller is willing to sell the entire right, title and interest in and to such Transferred Patent Assets to Buyer; and

 

WHEREAS,
Buyer wishes to acquire such right, title and interest in and to such Transferred Patent Assets on the terms and conditions set
forth herein.

 

NOW
THEREFORE, in consideration of the mutual promises, covenants and other valuable consideration, the Parties hereby agree as follows:

 

	1	Definitions

 

“Affiliate”
means, for an identified entity, any entity that is Controlled by, Controls or is under common Control with such identified entity,
but such entity shall be deemed to be an Affiliate only for so long as such Control exists.

 

“Closing”
or “Closing Date” means the date of the last dated signature of this Agreement.

 

“Combined
Royalties” has the meaning set forth in Section 5.2.

 

“Contracts”
means each and every agreement, arrangement, commitment or other understanding pursuant to which Seller or any of its Affiliates
has granted any Third Party any right, license, immunity from suit, covenant, or other forbearance with respect to any of the
Transferred Patent Assets.

 

“Control”
(including “Controlled” and other forms) of an entity means: (a) beneficial ownership (whether directly or
indirectly through entities or other means) of more than fifty percent (50%) of the outstanding voting securities of that entity;
or (b) in the case of an entity that has no outstanding voting securities, having the power (whether directly or indirectly through
entities or other means) presently to designate more than fifty percent (50%) of the directors of a corporation, or in the case
of unincorporated entities, of individuals exercising similar functions.

 

“Covered
Product” means a hardware product or software that, in the course of manufacture, use or sale would, in the absence
of this Agreement, infringe one or more claims of a Patent from the Transferred Patent Assets.

 

    	- 1 -

     

    

 

“Encumbrance”
means one or more liens, mortgages, pledges, security interests, prior assignments or any other restrictions on the sale, transfer,
conveyance, or exploitation of any of the Transferred Patent Assets.

 

“Financing
Statement” means the UCC Financing Statement filed with the Washington State Department of Licensing on April 14, 2016,
having File Number 2016-105-3092-9 and identifying Seller as Debtor and Henry L.B. Wilder as Secured Party.

 

“Inventors”
means each of the individuals who is or could be identified as an “inventor” on the Transferred Patent Assets.

 

“Licensing
Royalties” has the meaning set forth in Section 5.2.

 

“Listed
Assets” means each of the Patents and Patent Applications listed or described in Exhibit A.

 

“Patent”
means any granted patent, certificate of invention, registration, or utility or industrial design regardless of jurisdiction.

 

“Patent
Application” means any application for a patent, certificate of invention, registration, or utility or industrial design
including divisionals, provisionals, substitutions, continuations, continuations-in-part, and re-examinations regardless of jurisdiction.

 

“Patent
Related Materials” means any and all non-privileged and non-work product files, documents and materials (whether in
electronic or tangible format) that: (a) constitute, comprise or relate to the investigation, evaluation, preparation, prosecution,
maintenance, defense, enforcement, filing, issuance or registration of any of the Transferred Patent Assets or any abandoned application
or expired provisional application in the same patent family as any of the Transferred Patent Assets or claiming priority from
or having priority claims to any of the Transferred Patent Assets; or (b) help to support or establish the dates of conception
or reduction to practice of any inventions, including, but not limited to, laboratory reports, invention disclosures and inventor
notebooks, and those portions of the laboratory and inventor notebooks containing such information.

 

“Product
Royalties” has the meaning set forth in Section 5.2.

 

“Purchase
Price” has the meaning set forth in Section 5.1.

 

“Reseller”
means any person or entity, other than Buyer, who has the right to Sell Covered Products.

 

“Sales,”
“Sell”, or “Sold” mean any sale, lease, license, permission to use or other transfer of
the right of possession or other conveyance.

 

“Seller
Representative” means Steven Robert Hix.

 

“Third
Party” means, for two entities, that such entities are not Affiliates.

 

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“Transferred
Patent Assets” means: (a) the Listed Assets; (b) any and all other Patents and Patent Applications that claim priority
from any of the Listed Assets, including, without limitation any and all reexaminations, extensions, reissues, divisionals, renewals,
provisionals, substitutions, continuations and continuations-in-part, and foreign Patents and Patent Applications; (c) any and
all other Patents and Patent Applications that are within the patent family of any of the Patents and Patent Applications set
forth under subsections (a) and (b) above; and (d) any and all inventions and discoveries in the Patents and Patent Applications
set forth under subsections (a), (b) and (c) above.

 

“Wilder
Lien” means the lien of Henry L.B. Wilder on certain of Seller’s assets, which lien is evidenced by the Financing
Statement.

 

	2	Assignment,
    Further Assurances, Power of Attorney, Patent Related Materials, Lien Release, Payment of Fees, and Broker Fees.

 

	2.1	Assignment.

 

	 	(a)	Subject
    to Buyer’s payment to Seller as provided in Section 5.1 below, Seller, on behalf of itself and its Affiliates, hereby
    irrevocably agrees to and on the Closing Date does hereby irrevocably sell, assign, transfer and convey to Buyer the entire
    worldwide right, title and interest in and to the Transferred Patent Assets and any and all other rights, claims and privileges
    pertaining to, arising out of, or associated with the Transferred Patent Assets, including, without limitation, the right
    to file, prosecute and maintain the Transferred Patent Assets, and the right to seek equitable relief, sue and recover damages
    for all past, present and future infringement of Patents included in or issuing from the Transferred Patent Assets.

 

	 	(b)	Subject
    to Buyer’s payment to Seller as provided in Section 5.1 below, to the extent Seller Representative holds any right,
    title and interest in and to the Transferred Patent Assets, Seller Representative hereby irrevocably agrees to and on the
    Closing Date does hereby irrevocably sell, assign, transfer and convey to Boxlight Seller Representative’s entire right,
    title and interest in and to the Transferred Patent Assets and any and all other rights, claims and privileges pertaining
    to, arising out of, or associated with the Transferred Patent Assets, including, without limitation, the right to file, prosecute
    and maintain the Transferred Patent Assets, and the right to seek equitable relief, sue and recover damages for all past,
    present and future infringement of Patents included in or issuing from the Transferred Patent Assets.

 

	 	(c)	In
    connection with the foregoing, on or before fourteen (14) days after the Closing Date, Seller shall deliver to Buyer a fully
    executed and notarized form of patent assignment for the Listed Assets in the form attached hereto as Exhibit B to
    the extent such form is necessary to effect the assignment contemplated by this Agreement. The Parties agree that execution
    of such patent assignment(s) is done solely for confirmation, and is not necessary to effect the assignment contemplated by
    this Agreement.

 

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	2.2	Further
    Assurances.

 

	 	(a)	Seller
    and Seller Representative shall, and shall cause their Affiliates to, take all steps reasonably necessary to enable Buyer
    and its Affiliates to enjoy to the fullest extent in the United States and all foreign jurisdictions the right, title and
    interest to the subject matter assigned under Section 2.1. Without limiting the scope of the foregoing, Seller and
    Seller Representative shall, and shall cause its Affiliates to, at the reasonable request of Buyer, promptly provide pertinent
    information, documents and testimony, to execute petitions, oaths, declarations and all other papers and to provide all other
    assistance reasonably necessary to: (a) evidence, record and perfect in Buyer the assignment under Section 2.1; (b)
    comply with any duty of disclosure; (c) file and prosecute any and all applications within the subject matter assigned under
    Section 2.1; and (d) defend, prosecute and maintain any proceedings involving the subject matter assigned under Section
    2.1, including, but not limited to, opposition proceedings, interference proceedings, priority contests, reexamination
    and reissue proceedings, infringement actions and other court actions. At the reasonable request of Buyer, Seller and Seller
    Representative shall assist Buyer in obtaining from all Inventors the information, documents, testimony and all other assistance
    reasonably necessary to take the actions recited in clauses (a), (b), (c) and (d) in the prior sentence.

 

	 	(b)	There
    may exist Patents and/or Patent Applications that, contrary to the intent of this Agreement and the agreements entered into
    in connection with this Agreement, existed as of the Closing and are discovered to have been inadvertently retained by Seller
    or Seller Representative. Seller, Seller Representative and Buyer shall, and shall cause their respective Affiliates to, cooperate
    in good faith to promptly effect the transfer of such Patents and Patent Applications to or by the appropriate party and shall
    not use the determination that remedial actions need to be taken to alter the original intent of Seller and Buyer with respect
    to the subject matter to be assigned to Buyer under Section 2.1 (by way of example and not of limitation, if a Patent
    Application within the patent family of a Patent or Patent Application within the Listed Assets is not listed on Exhibit
    A, such Patent Application shall be deemed to have been assigned, and was actually assigned, by Seller or Seller Representative
    to Buyer pursuant to this Agreement).

 

	2.3	Power
    of Attorney. Seller, on behalf of itself and its Affiliates, hereby irrevocably appoints Buyer as its attorney in fact
    to undertake all acts legal and reasonably necessary to evidence, effect, and record Seller’s sale, assignment, transfer
    and conveyance to Buyer of, and to perfect Buyer’s interest in, all right, title and interest in and to the Transferred
    Patent Assets as described under Section 2.1 above. The foregoing appointment of Buyer as Seller’s attorney in
    fact shall be deemed to be coupled with an interest of Buyer in the Transferred Patent Assets.

 

	2.4	Patent
    Related Materials. On or before fourteen (14) days after the Closing Date: (a) Seller shall have delivered to Buyer or
    its designee, in a format reasonably acceptable to Buyer, all Patent Related Materials in the possession and/or control of
    Seller or its Affiliates or Seller Representative; and (b) Seller shall have caused the delivery to Buyer or its designee
    of, or shall have provided written instructions requiring the prompt delivery to Buyer or its designee of, all Patent Related
    Materials in the possession of Seller, Seller Representative, or its agents or attorneys.

 

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	2.5	Lien
    Release. On or before fourteen (14) days after the Closing Date, Seller shall cause the Wilder Lien to be terminated.
    On or before fourteen (14) days after the Closing Date, Seller shall file (or cause to be filed) with the Washington State
    Department of Licensing a Form UCC3 termination with respect to the Financing Statement.

 

	2.6	Broker
    Fees. Seller is responsible for any brokerage commissions, finders’ fees, or similar compensation in connection
    with this Agreement based on any arrangement or agreement made by or on behalf of Seller or its Affiliates.

 

	3	Representations
    and Warranties of Seller and Buyer

 

Representations
and Warranties of Seller. Except as otherwise provided for on the Disclosure Schedule provided to Buyer in due course, Seller,
on behalf of itself and its Affiliates, each hereby represents and warrants to Buyer that as of the Closing Date:

 

	3.1	Organization.
    Seller is duly incorporated, validly existing and in good standing under the laws of the State of Washington. Seller shall
    provide evidence of same, to the satisfaction of Buyer on or before fourteen (14) days after Closing. Seller is an entity
    that is not Controlled by any other entity.

 

	3.2	Authority.
    Seller has all requisite power, legal right, capacity and authority to enter into this Agreement and any related agreements
    to which it is a party and to consummate the transactions contemplated hereby and thereby. This Agreement and the transactions
    contemplated hereby have been approved by the Board of Directors or other controlling body of Seller. Seller shall provide
    evidence of same, to the satisfaction of Buyer, on or before fourteen (14) days after Closing. The execution and delivery
    of this Agreement and any related agreements to which Seller is a party and the consummation of the transactions contemplated
    hereby have been duly authorized by all necessary corporate action on the part of Seller and no further action is required
    on the part of Seller or its stockholders. Assuming the due authorization, execution and delivery by each party, this Agreement
    and any related agreements constitute the valid and binding obligations of Seller, enforceable against it in accordance with
    its terms.

 

	3.3	Consents.
    No consent or approval of any Third Party is required to be obtained by Seller for the execution, delivery or performance
    of this Agreement or any related agreement or the performance by Seller of the transactions contemplated hereby and thereby.

 

	3.4	Ownership.

 

	 	(a)	Seller
    is the sole and exclusive owner, and has good and exclusive title to, each of the Transferred Patent Assets, free and clear
    of any and all Encumbrances. Seller shall provide evidence of the executed release of the Wilder Lien on or before fourteen
    (14) days after the Closing Date. On or before fourteen (14) days after the Closing Date, Seller shall provide evidence of
    filing same with the Washington State Department of Licensing, to the satisfaction of Buyer.

 

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	 	(b)	All
    inventions and discoveries in the Transferred Patent Assets were developed solely by either: (i) employees of Seller and/or
    its Affiliates acting within the scope of their employment; or (ii) Third Parties, in each case, who have validly and irrevocably
    assigned all of their right, title and interest in and to such inventions exclusively to Seller or its Affiliates.

 

	 	(c)	All
    of the Transferred Patent Assets will be fully transferable, alienable and licensable by Buyer and its Affiliates without
    restriction and without payment of any kind to any Third Party.

 

	 	(d)	Seller
    has obtained and properly recorded previously executed assignments for each of the Transferred Patent Assets as necessary
    to fully evidence, record and perfect Seller rights and title therein in accordance with the relevant governing law and regulations
    in each applicable jurisdiction.

 

	3.5	Maintenance.
    Except as provided in Section 3.5 of the Disclosure Schedule, all necessary registration, maintenance and renewal fees in
    connection with each of the Transferred Patent Assets have been made, and all necessary documents and certificates in connection
    with such Patents have been filed with the relevant patent (or other) authorities in the United States or foreign jurisdictions,
    as the case may be, for the purposes of prosecuting, perfecting and maintaining such Patents. Section 3.5 of the Disclosure
    Schedule contains a complete and accurate list of: (a) all past or present proceedings or actions before any court, tribunal
    or other similar body (including, but not limited to, the United States Patent and Trademark Office or equivalent authority
    anywhere in the world) related to necessary registration, maintenance and renewal fees in connection with each of the Transferred
    Patent Assets; and (b) any actions that must be taken within one hundred fifty (150) days after the Closing Date for the purposes
    of obtaining, maintaining, perfecting, preserving or renewing any of the Transferred Patent Assets, including, but not limited
    to, the payment of any registration, maintenance or renewal fees or the filing of any responses to office actions, documents,
    applications or certificates.

 

	3.6	Validity.
    None of the Transferred Patent Assets previously have been found invalid or unenforceable for any reason in any administrative,
    arbitration, judicial or other proceeding. To the extent that Seller has claimed any special status, including, but not limited
    to, “small entity status,” Seller was qualified to do so at the time and none of the Transferred Patent Assets
    have at any time been licensed, nor has any other right with respect to the Transferred Patent Assets been granted, to any
    entity that was not a “small entity” or of an equivalent status.

 

	3.7	Enforceability.
    Neither Seller nor any of its Affiliates:

 

	 	(a)	has
    any information, materials, facts, or circumstances, including, but not limited to, any information or fact that would constitute
    prior art, that may render any of the Transferred Patent Assets invalid or unenforceable, or may materially affect any pending
    application for any of the Transferred Patent Assets, other than official notices and cited prior art from patent offices
    in the course of patent prosecution;

 

    	- 6 -

     

    

 

	 	(b)	has
    received any written notice from any source alleging or otherwise suggesting that the Transferred Patent Assets may be invalid,
    unpatentable or unenforceable;

 

	 	(c)	has
    misrepresented, or failed to disclose, any facts or circumstances in any application for any of the Transferred Patent Assets
    that would constitute fraud or a misrepresentation with respect to such application or that would otherwise affect the validity
    or enforceability of any of the Transferred Patent Assets;

 

	 	(d)	has
    taken any action, or failed to take any action that would hinder, restrict or impair, under any theory, including, but not
    limited to, laches or estoppel, Buyer’s ability to assert or enforce any of the Transferred Patent Assets; or

 

	 	(e)	has
    put any Third Party on notice of any actual or potential infringement of any of the Transferred Patent Assets or invited any
    Third Party to enter into any license under any of the Transferred Patent Assets.

 

	3.8	Government
    Rights. No government funding, facilities of a university, college, other educational institution or research center,
    or funding from Third Parties, was used in the development of any of the Transferred Patent Assets. No current or former employee,
    consultant or independent contractor of Seller or its Affiliates, who was involved in, or who contributed to, the creation
    or development of any of the Transferred Patent Assets, has performed services for the government during a period of time
    during which such employee, consultant or independent contractor was also performing services for Seller or its Affiliates.

 

	3.9	Standard
    Setting Organizations.

 

	 	(a)	Section
    3.9 of the Disclosure Schedule contains a complete and accurate list of all industry standards bodies or similar organizations
    that Seller or any of its Affiliates is now or ever was a member or promoter of, or a contributor to, or otherwise participated
    in.

 

	 	(b)	Seller
    and its Affiliates are not and could not be, as a result of such activities, (i) obligated to grant or offer to any Third
    Party any license or right to any Transferred Patent Assets, or (ii) otherwise restricted or impaired in its ability to assert
    or enforce any of the Transferred Patent Assets against any Third Party.

 

	 	(c)	Seller
    has provided to Buyer complete and accurate copies of all agreements, policies and rules to which Seller or any of its Affiliates
    is a party or by which Seller or any of its Affiliates is bound relating to intellectual property rights of each standards
    body or similar organization identified in Section 3.9 of the Disclosure Schedule.

 

	3.10	Patent
    Related Materials. Section 3.10 of the Disclosure Schedule sets forth a complete and accurate list of all Patent Related
    Materials of Seller and its Affiliates that exist, and all such Patent Related Materials have been or shall be delivered to
    Buyer pursuant to Section 2.4 above.

 

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	3.11	Contracts.

 

	 	(a)	Section
    3.11 of the Disclosure Schedule sets forth a complete and accurate list of any and all Contracts.

 

	 	(b)	No
    party to any such Contract is in breach thereof. The consummation of the transactions contemplated by this Agreement will
    neither violate nor result in the breach, modification, cancellation, termination or suspension of any provision in any Contract.

 

	3.12	No
    Adverse Effect. Neither this Agreement nor the transactions contemplated by this Agreement, including, but not limited
    to, the assignment to Buyer of the Transferred Patent Assets, by operation of law or otherwise, will result in: (a) any Third
    Party being granted rights or access to any intellectual property rights, technology or otherwise of Buyer or any of its Affiliates;
    (b) Buyer or any of its Affiliates granting to any Third Party any right to their respective intellectual property rights,
    technology or otherwise; or (c) Buyer or any of its Affiliates being bound by, or subject to, any non-compete, covenant not
    to sue or other restriction on the operation or scope of their respective businesses.

 

	3.13	Bankruptcy
    Proceedings. Neither Seller nor any of its Affiliates is a party to, nor has any such entity entered into or been a party
    to, any bankruptcy or similar proceedings that relate to the Transferred Patent Assets.

 

	3.14	Fraudulent
    Conveyance. Seller has no intent to impair its creditors and has no other unreasonable or illegal intent in executing
    this Agreement or performing its obligations hereunder, and Seller has no intent to conceal, dispose without compensation
    or otherwise impair its creditors in relation to the Purchase Price Seller will receive from Buyer.

 

	3.15	No
    Other Patent Rights. There are no other patents or patent applications currently owned by Seller or any of its Affiliates,
    or to which it had prior rights, that are pertinent to the subject matter of the Transferred Patent Assets, but that: (a)
    are not included in the Transferred Patent Assets being purchased by and assigned to Buyer pursuant to this Agreement; or
    (b) would interfere with the exercise by Buyer or its designees of the ownership and other rights being transferred pursuant
    to this Agreement.

 

Representations
and Warranties of Buyer.

 

Buyer,
on behalf of itself and its Affiliates, hereby represents and warrants to Seller that as of the Closing Date:

 

	3.16	Buyer
    is a public company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its formation.

 

	3.17	Buyer
    has all requisite power and authority to (i) enter into, execute, and deliver this Agreement, and (ii) perform fully its obligations
    hereunder.

 

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THE
WARRANTIES SET FORTH IN SECTION 3 ABOVE ARE PROVIDED IN LIEU OF, AND EACH PARTY HEREBY DISCLAIMS, ALL OTHER WARRANTIES, EXPRESS
AND IMPLIED, RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTIBILITY,
FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF THIRD PARTY RIGHTS.

 

	4	Conditions
    to Purchase of Transferred Patent Assets

 

	4.1	Purchase
    Conditions. Buyer’s obligation to consummate the transaction set forth in this Agreement is conditioned on the following
    being met on or before fourteen (14) days after the Closing Date:

 

	 	(a)	Delivery
    of Documents. Seller shall have delivered to Buyer or its designee each of the documents provided for under Sections 2.1
    (Assignment) and 2.4 (Patent Related Materials).

 

	 	(b)	Compliance
    with Agreement. Seller and its Affiliates shall have performed and complied with all of the obligations that are to be
    performed or complied with by it on or before fourteen (14) days after the Closing Date. If Seller reasonably requires additional
    time to perform or comply with any such obligation, Buyer shall accommodate any reasonable extensions requested from Seller,
    such extensions not to exceed an additional fourteen (14) days.

 

	 	(c)	Representations
    and Warranties True. To the best of Seller’s knowledge and belief, all of the Seller representations and warranties
    are true and correct and Seller will provide the evidence set forth in Section 3 (Organization), (Authority) and (Ownership)
    on or before fourteen (14) days after Closing.

 

	 	(d)	Transferred
    Patent Assets not Abandoned. Except for the abandoned application US 2018/0034877 (US 15/728,422), abandoned application
    US 16/575,303, abandoned PCT Patent Application and abandoned provisional Patent Applications listed in Exhibit A, as of the
    Closing Date none of the Transferred Patent Assets have expired, lapsed, been abandoned or deemed to have been withdrawn.
    Except for those items listed in Section 3.5 of the Disclosure Schedule, any actions that must be taken within sixty (60)
    days after the Closing Date for the purposes of obtaining, maintaining, perfecting, preserving or renewing any of the Transferred
    Patent Assets, including, but not limited to, the payment of any registration, maintenance or renewal fees or the filing of
    any responses to office actions, documents, applications or certificates will be taken by the Seller prior to Closing.

 

	5	Consideration
    and Payments.

 

	5.1	Payment
    of Purchase Price. In consideration of Seller’s sale, assignment, transfer, conveyance and delivery of the purchased
    assets to Buyer, Buyer will pay to Seller an amount of One Hundred Thousand Dollars (US $100,000) (“Purchase Price”)
    and Combined Royalties provided in Section 5.2 below. The Purchase Price will be paid in cash as follows:

 

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a.
$25,000 payable on or before fourteen (14) days after signing this Agreement

 

b.
$25,000 payable on or before October 15, 2020

 

c.
$50,000 payable on or before November 15, 2020

 

Payments
will be made by wire transfer of immediately available funds to such account designated by Seller in Exhibit C attached
hereto. Notwithstanding Section 7.10 Modification; Waiver below, the Parties acknowledge and agree that Exhibit C will
be amended after Closing to include Seller’s escrow account information, and that no written assent by either party will
be required for such amendment to be effective.

 

	5.2	Combined
    Royalties. Buyer has Sold and intends to develop and Sell Covered Products, including software applications and hardware
    products that utilize software. Buyer agrees to pay Seller a royalty on revenues received by Buyer or its Affiliates from
    the Sale by Buyer, its Affiliates and Resellers of Covered Products, licenses for Covered Products, and licenses to one or
    more Transferred Patent Assets, for a period beginning on the Closing Date and ending four (4) years from the Closing Date.

 

	 	(a)	For
    each Sale in the U.S. of a particular Covered Product or a particular software application license for a Covered Product,
    the royalty will be paid equal to Five Dollars ($5.00) per Covered Product Sold or Five Dollars ($5.00) per license for a
    Covered Product Sold (“Product Royalties”).

 

	 	(b)	For
    all other revenues related to a Transferred Patent Asset and received by Buyer or its Affiliates from any third party, including
    patent licensing fees, Buyer will pay Seller a royalty of Ten Percent (10%) of the relevant Sale amount (“Licensing
    Royalties,” and together, with Product Royalties, “Combined Royalties”).

 

	 	(c)	Buyer
    will provide a quarterly report to Seller of Combined Royalties following each calendar quarter and will provide such report
    and pay Seller the amount of Combined Royalties due for such calendar quarter within seventy-five (75) days of the end of
    such calendar quarter, beginning with the first full calendar quarter after the Closing Date. Such quarterly report shall
    include at least (1) for each Covered Product sold or licensed, the product name and number of units sold or licensed; (2)
    for Licensing Royalties, the nature of the license and the compensation to be received by Seller; and (3) the royalties payable
    thereon calculated in the manner required in this Section 5.2.

 

	 	(d)	Buyer’s
    obligations under this Section 5.2 shall continue until all quarterly reports for the four-year term of Buyer’s royalty
    obligation have been provided to Seller and the amounts due to Seller as shown in such quarterly reports have been paid by
    Buyer to Seller.

 

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	5.3	Accounts.
    Licensee shall keep at its usual place of business true and particular accounts of all matters connected with the manufacture
    and Sale of Covered Products and shall keep books of accounting relating to the Combined Royalties payable hereunder containing
    complete and accurate accounts in sufficient detail as may be necessary or proper for enabling the amount of such Combined
    Royalties to be conveniently ascertained. Upon Seller’s request given at least 30 days in advance, and no more than
    once per year, Buyer shall produce records and other evidence necessary to verify any payment of Combined Royalties or report
    required under the Agreement.

 

	6	Press
    Release, Buyer Confidential Information and Confidentiality of Agreement.

 

	6.1	Press
    Release. From and after the date of this Agreement, neither Seller nor any of its Affiliates may issue any press release
    or make any public statement regarding this Agreement or the transactions contemplated herein, without the prior written consent
    of Buyer with respect to the form and content of any such release or statement.

 

	6.2	Buyer
    Confidential Information. On and after the date of this Agreement, any and all Patent Related Materials, whether actually
    delivered to Buyer pursuant to Section 2.4 or not, shall automatically and immediately become and shall for all purposes
    be deemed to be “Buyer Confidential Information.” Seller shall, and shall ensure its Affiliates: (a) treat as
    confidential all Buyer Confidential Information; (b) not use any Buyer Confidential Information except as expressly authorized
    in writing by Buyer; and (c) use at least the same degree of care in keeping the Buyer Confidential Information confidential
    as Seller and its Affiliates uses to safeguard information of like importance (but in no event less than reasonable care)
    from unauthorized disclosure, duplication, removal and misuse.

 

	6.3	Confidentiality
    of Agreement. Seller agrees, on behalf of itself and its Affiliates, that only after a public announcement by Buyer regarding
    this Agreement, shall Seller and/or its Affiliates be entitled to disclose the general nature of this Agreement but that the
    terms and conditions of this Agreement, to the extent not already disclosed pursuant to Section 6.1 above, shall be
    treated as confidential information and that neither Party will disclose such terms or conditions to any Third Party without
    the prior written consent of the other Party, provided, however, that each Party may disclose the terms and conditions of
    this Agreement:

 

	 	(a)	as
    required by any court or other governmental body;

 

	 	(b)	as
    otherwise required by law;

 

	 	(c)	as
    otherwise may be required by applicable securities and other law and regulation, including, but not limited to, to legal and
    financial advisors in their capacity of advising a Party in such matters;

 

	 	(d)	to
    legal counsel of the Parties, accountants, and other professional advisors;

 

	 	(e)	in
    confidence, to banks, investors and other financing sources and their advisors;

 

    	- 11 -

     

    

 

	 	(f)	in
    connection with the enforcement of this Agreement or rights under this Agreement;

 

	 	(g)	during
    the course of litigation so long as the disclosure of such terms and conditions are restricted in the same manner as is the
    confidential information of other litigating parties and so long as: (i) the restrictions are embodied in a court-entered
    protective order limiting disclosure to outside counsel; and (ii) the disclosing Party informs the other Party in writing
    at least ten (10) business days in advance of the disclosure and shall discuss the nature and contents of the disclosure,
    in good faith, with the other Party; or

 

	 	(h)	in
    confidence, in connection with an actual or prospective merger or acquisition or similar transaction.

 

	 	(i)	For
    the avoidance of doubt, upon execution of this Agreement, or thereafter, Buyer, in its discretion, shall be entitled to file
    a copy of this Agreement with the U.S. Securities and Exchange Commission.

 

	7	Miscellaneous

 

	7.1	LIMITATION
    OF LIABILITY. SELLER’S TOTAL LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE SUM OF THE PURCHASE PRICE AND SOFTWARE
    ROYALTIES PAID BY BUYER. BUYER’S TOTAL LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE SUM OF THE PURCHASE PRICE
    AND SOFTWARE ROYALTIES PAID BY BUYER. THE PARTIES ACKNOWLEDGE THAT THE LIMITATIONS ON POTENTIAL LIABILITIES SET FORTH IN THIS
    SECTION 7.1 WERE AN ESSENTIAL ELEMENT IN ESTABLISHING THE CONSIDERATION UNDER THIS AGREEMENT.

 

	7.2	LIMITATION
    ON CONSEQUENTIAL DAMAGES. IN NO EVENT WILL EITHER PARTY BE LIABLE FOR ANY INDIRECT, PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL
    DAMAGES IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, OR FOR LOSS OF PROFITS OR ANY OTHER ECONOMIC LOSS, HOWEVER IT
    ARISES AND UNDER ANY THEORY OF LIABILITY, WHETHER IN AN ACTION FOR CONTRACT, WARRANTY, STRICT LIABILITY, TORT (INCLUDING NEGLIGENCE)
    OR OTHERWISE, REGARDLESS OF WHETHER THE PARTIES HAVE BEEN ADVISED ABOUT THE POSSIBILITY OF SUCH DAMAGE OR LOSS AND NOTWHITSTANDING
    THE FAILURE OF ESSENTIAL PURPOSE OF ANY REMEDY. THE PARTIES ACKNOWLEDGE THAT THESE EXCLUSIONS OF POTENTIAL DAMAGES AND LOSSES
    SET FORTH IN THIS SECTION 7.2 WERE AN ESSENTIAL ELEMENT IN ESTABLISHING THE CONSIDERATION UNDER THIS AGREEMENT.

 

	7.3	Notices.
    All notices and other communications required or permitted hereunder shall be in writing and shall be (a) mailed by first
    class air mail (registered or certified if available), postage prepaid, or otherwise delivered by hand, by messenger, addressed
    to the addresses first set forth above, or (b) delivered by facsimile to the facsimile number provided by the recipient. Each
    party may change its address or facsimile number for notices by providing a notice to the other party in the manner set forth
    herein. Such notices shall be deemed to have been effective when delivered or, if delivery is not accomplished by reason of
    some fault or refusal of the addressee, when tendered (which tender, in the case of mail, shall be deemed to have occurred
    upon posting, and in the case of facsimile, shall be deemed to have occurred upon transmission). All notices shall be in English.

 

    	- 12 -

     

    

 

	7.4	Governing
    Law & Venue. This Agreement shall be governed by and interpreted in accordance with U.S. federal law and/or the laws
    of the State of Washington, without reference to conflict of laws principles and all disputes arising under this Agreement
    shall be subject to the exclusive jurisdiction and venue of the courts of the State of Washington or of the Federal courts
    sitting in King County and each Party hereby irrevocably waives any objections to and hereby submits to such jurisdiction
    and venue. Each of the Parties hereby waives the application of the United Nations Convention on the International Sales of
    Goods to this Agreement.

 

	7.5	Assignment.
    This Agreement is personal to the Parties, and the Agreement and/or any right or obligation hereunder is not assignable, whether
    in conjunction with a change in ownership, merger, acquisition, the sale or transfer of all, or substantially all or any part
    of a Party’s business or assets or otherwise, voluntarily, by operation of law, reverse triangular merger or otherwise,
    without the prior written consent of the other Party, which consent may be withheld at the sole discretion of such other Party,
    provided that Buyer shall be free to assign this Agreement at its discretion to any Third Party. Any purported or attempted
    assignment or transfer in violation of the foregoing shall be deemed a material breach of this Agreement and shall be null
    and void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties and their
    permitted successors and assigns.

 

	7.6	Dispute
    Resolution. In the event of any dispute between the Parties regarding performance under this Agreement, the Parties will
    be bound, for a maximum period of thirty (30) days, to discuss in good faith an amicable resolution to such dispute. Each
    Party shall designate a representative with authority to resolve the dispute to enter into discussions within thirty (30)
    days of a Party’s request for negotiation.

 

	7.7	No
    Rule of Strict Construction. Regardless of which Party may have drafted this Agreement or any part thereof, no rule of
    strict construction shall be applied against either Party.

 

	7.8	Severability.
    If any section, or paragraph, or provision or clause of any thereof in this Agreement shall be found or be held to be invalid
    or unenforceable in any jurisdiction in which this Agreement is being performed, the remainder of this Agreement shall be
    valid and enforceable and the Parties shall negotiate, in good faith, a substitute, valid and enforceable provision which
    most nearly effects the Parties’ intent in entering into this Agreement.

 

	7.9	Entire
    Agreement. This Agreement (including, but not limited to, all exhibits hereto, which are incorporated herein by this reference
    as though fully set forth in the body of this Agreement) embodies the entire understanding of the Parties with respect to
    the subject matter hereof, and merges all prior oral or written communications between them, and neither of the Parties shall
    be bound by any conditions, definitions, warranties, understandings, or representations with respect to the subject matter
    hereof other than as expressly provided herein. No oral explanation or oral information by either Party hereto shall alter
    the meaning or interpretation of this Agreement.

 

    	- 13 -

     

    

 

	7.10	Modification;
    Waiver. No modification or amendment to this Agreement, nor any waiver of any rights, will be effective unless assented
    to in writing by the Party to be charged, and the waiver of any breach or default will not constitute a waiver of any other
    right hereunder or any subsequent breach or default.

 

	7.11	No
    Third Party Beneficiaries. This Agreement has been made and is made solely for the benefit of Seller, Buyer and their
    respective Affiliates and permitted successors and assigns. Nothing in this Agreement is intended to confer any rights or
    remedies under or by reason of this Agreement on any persons or entity other than the Parties to this Agreement, their respective
    Affiliates and their respective permitted successors and assigns. Nothing in this Agreement is intended to relieve or discharge
    the obligation or liability of any Third Party to any Party to this Agreement.

 

	7.12	Relationship
    of Parties. The Parties hereto are independent contractors. Nothing contained herein or done in pursuance of this Agreement
    shall constitute either Party the agent of the other Party for any purpose or in any sense whatsoever, or constitute the Parties
    as partners or joint venturers.

 

	7.13	Counterparts.
    This Agreement may be executed in two (2) or more counterparts, all of which, taken together, shall be regarded as one and
    the same instrument.

 

	7.14	Signatures.
    The Parties may exchange signatures on this Agreement by email or facsimile, and any copy of a signature so transmitted
    will be binding and effective as an original.

 

SIGNATURE
PAGE NEXT PAGE

 

    	- 14 -

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be signed by duly authorized officers or representatives as
of the date first above written.

 

	CIRCLE
    TECHNOLOGY, INC. 	 
	 	 	 
	By:
    	/s/
    Steve Hix	 
	Name:	Steve
    Hix	 
	Title:
    	President	 
	Date:
    	September
    23, 2020	 
	 	 	 
	BOXLIGHT
    CORPORATION	 
	 	 	 
	By:
    	/s/
    Michael Pope	 
	Name:	Michael
    Pope	 
	Title:
    	CEO	 
	Date:
    	September
    23, 2020	 

 

    	- 15 -

     

    

 

DISCLOSURE
SCHEDULE - SECTIONS 3.5, 3.9, 3.10 and 3.11

 

Section
3.5 -

 

Re
- US 2018/0034877 (US 15/728,422) - Closed Network Video Presentation:

Note
- The claims in this case were rejected under non-statutory double patenting over claims 1-18 of US 9,787,738, and under 35 U.S.C.
§ 103 as being obvious over US 2014/0090003 in view of US 2012/0082226. The Office Action was Non-Final and was mailed on
08/27/2018.

 

A
response to the 8/27/2018 Office action was filed on 12/27/2018. A Final Office Action was mailed on April 18, 2019, rejecting
claims 1-5, 7-13, and 15-19 under 35 U.S.C. § 103 as being obvious over US 2014/0090003 in view of US 2012/0082226. The 3-month
deadline for response falls on July 18, 2019, and the non-extendible 6-month deadline for response falls on October 18, 2019.
A response to this Final Office Action was not filed and this application has gone abandoned.

 

To
preserve the subject matter of US 2018/0034877 (US 15/728,422), on September 18, 2019 Continuation application Serial No. 16/575,303
was filed claiming priority to pending parent application US 15/728,422. Filing, search and examination fees for this Continuation
application have not been paid. The assignment of this application to Circle was recorded in the USPTO on September 18, 2019.
A Notice to File Missing Parts was mailed October 3, 2019. The two-month deadline for paying the filing fees and surcharge fell
on December 3, 2019, with extensions of time available under 37 CFR 1.136(a). Note: A petition for extension of time in the corresponding
parent application Serial No. 15/728,422 was not filed with this application. A Notice of Abandonment for this application was
mailed on June 3, 2020.

 

To
ensure co-pendency with the parent application, an identical Continuation application Serial No. 16/579,640 claiming priority
to pending parent application US 15/728,422 was filed on September 23, 2019, along with the appropriate petition for extension
of time in the parent application. A Notice to File Missing Parts was mailed October 9, 2019. Filing, search, examination, surcharge
and extension of time fees for this Continuation application were paid on May 8, 2020. The assignment of this application to Circle
was recorded in the USPTO on September 23, 2019.

 

In
Continuation application Serial No. 16/579,640, a Non-Final Office Action rejecting claims 1-17 was mailed on September 17, 2020.
A response to this Office Action is due on December 17, 2020, and the non-extendible 6-month deadline for response falls on March
17, 2021.

 

The
first maintenance fee for U.S. Patent 8,898,449 was paid on November 20, 2018.

 

The
first maintenance fee for U.S. Patent 9,167,040 was paid on October 15, 2019.

 

The
first maintenance fee for U.S. Patent 9,787,738 is due on April 10, 2021.

 

Section
3.9 - None

 

    	- 16 -

     

    

 

Section
3.10:

 

	 	1.	File
    History of US 8,898,449;

 

	 	2.	File
    History of US 9,167,040;

 

	 	3.	File
    History of 9,787,738

 

	 	4.	File
    History of US Ser. No. 16/579,640

 

	 	5.	File
    History of US Ser. No. 16/575,303;

 

	 	6.	File
    History of US Ser. No. US 2018/0034877 (US 15/728,422);

 

	 	7.	File
    History of PCT/US2013/46517;

 

	 	8.	File
    History of US 61/661,733;

 

	 	9.	File
    History of US 61/907,936;

 

	 	10.	File
    History of US 62/013,093;

 

	 	11.	“Circle
    Desktop App Flowchart V1.0.0” dated 6/4/2012

 

	 	12.	“Patent
    Possibilities” document dated 2/1/13

 

	 	13.	“Patent
    Discussions” document dated 3/13/13

 

	 	14.	“Patent
    Topics” document dated 3/13/2013

 

	 	15.	“Development
    Plan” document dated 2/8/13

 

	 	16.	Invention
    disclosure form related to US 8,898,449 - Closed Network Presentation;

 

Section
3.11 – None

    	- 17 -

     

    

 

EXHIBIT
A

 

LISTED
ASSETS

 

PATENTS:

 

US
8,898,449 - Closed Network Presentation

 

US
9,167,040 -Closed Network Presentation with External Router

 

US
9,787,738 - Closed Network Video Presentation

 

PATENT
APPLICATIONS:

 

US
Ser. No. 16/579,640 – Closed Network Video Presentation

 

Abandoned
US Ser. No. 16/575,303 - Closed Network Video Presentation

 

Abandoned
US 2018/0034877 (US 15/728,422) - Closed Network Video Presentation

 

Abandoned
PCT application: PCT/US2013/46517 

 

Provisional
Patent Application 61/661,733

 

Provisional
Patent Application 61/907,936

 

Provisional
Patent Application 62/013,093

 

INVENTION
DISCLOSURES 

 

The
Patent Related Materials include an invention disclosure form related to US 8,898,449 - Closed Network Presentation.

 

    	- 18 -

     

    

 

EXHIBIT
B

 

FORM
OF ASSIGNMENT

 

 

    	- 19 -

     

    

 

EXHIBIT
C

 

ACCOUNT
INFORMATION

 

[To
be provided by Seller after Closing]

 

    	- 20 -Exhibit 10.1

 

Execution Version

LOCK-UP AGREEMENT

 

This Lock-Up Agreement
(this “Agreement”) is made and entered into as of September 23, 2020, by and among Switchback Energy
Acquisition Corporation, a Delaware corporation (“Switchback”), the undersigned stockholders (each, a
“Lock-Up Party” and, collectively, the “Lock-Up Parties”) of ChargePoint, Inc.,
a Delaware corporation (the “Company”) and the Company. Capitalized terms used but not otherwise defined
herein shall have the respective meanings ascribed to such terms in the Business Combination Agreement (as defined below).

 

RECITALS

 

WHEREAS, on September
23, 2020, Switchback, Lightning Merger Sub Inc., a Delaware corporation and a direct, wholly owned Subsidiary of Switchback (“Merger
Sub”), and the Company, entered into a Business Combination Agreement and Plan of Reorganization (the “Business
Combination Agreement”), pursuant to which Merger Sub will merge with and into ChargePoint, with ChargePoint surviving
the merger as a wholly owned subsidiary of Switchback (the “Merger”);

 

WHEREAS, each Lock-Up
Party agrees to enter into this Agreement with respect to all Lock-Up Securities (as defined below) that such Lock-Up Party now
or hereafter owns, beneficially (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) or of record;

 

WHEREAS, each of Switchback,
the Company and each Lock-Up Party has determined that it is in its best interests to enter into this Agreement; and

 

WHEREAS, each Lock-Up
Party understands and acknowledges that Switchback and the Company are entering into the Business Combination Agreement in reliance
upon such Lock-Up Party’s execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending
to be legally bound, do hereby agree as follows:

 

1. Definitions.
When used in this Agreement, the following terms in all of their tenses, cases and correlative forms shall have the meanings assigned
to them in this Section 1 or elsewhere in this Agreement.

 

“Affiliate”
of a specified person means a Person who, directly or indirectly through one or more intermediaries, controls, is controlled by,
or is under common control with, such specified Person (provided that if a Lock-Up Party is a venture capital, private equity or
angel fund, no portfolio company of such Lock-Up Party will be deemed an Affiliate of such Lock-Up Party).

 

“Beneficially
Own” has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

 

     

     

    

 

“Expiration
Time” shall mean the earliest to occur of (a) the effective date of the Merger (the “Closing Date”),
(b) such date as the Business Combination Agreement shall be validly terminated in accordance with Article IX thereof and
(c) the effective date of a written agreement of the parties hereto terminating this Agreement.

 

“Family
Member” means with respect to any individual, a spouse, lineal descendant (whether natural or adopted) or spouse of a
lineal descendant of such individual or any trust created for the benefit of such individual or of which any of the foregoing is
a beneficiary.

 

“Governmental
Authority” means any United States federal, state, county, municipal or other local or non-United States government,
governmental, regulatory or administrative authority, agency, instrumentality or commission or any court, tribunal, or judicial
or arbitral body.

 

“Law”
means any federal, national, state, county, municipal, provincial, local, foreign or multinational, statute, constitution, common
law, ordinance, code, decree, order, judgment, rule, regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented
or otherwise put into effect by or under the authority of any Governmental Authority.

 

“Lock-Up
Securities” means any Switchback Securities Beneficially Owned by a Lock-Up Party as of immediately following the Closing
Date, other than (i) any security received pursuant to an incentive plan adopted by Switchback on or after the Closing Date, or
(ii) any Switchback Securities acquired in open market transactions.

 

“Permitted
Transferee” means with respect to any Person, (a) any Family Member of such Person, (b) any Affiliate of such Person
or to any investment fund or other entity controlled or managed by such Person, (c) any Affiliate of any Family Member of such
Person, (d) if the undersigned is a corporation, partnership, limited liability company or other business entity, its stockholders,
partners, members or other equityholders, and (e) the Company or Switchback in connection with the repurchase of shares of Switchback
Common Stock issued pursuant to equity awards granted under a stock incentive plan or other equity award plan.

 

“Person”
means an individual, corporation, partnership, limited partnership, limited liability company, syndicate, person (including a “person”
as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency
or instrumentality of a government.

 

“Switchback
Common Stock” means Switchback’s Class A common stock, par value $0.0001 per share.

 

“Switchback
Securities” means (a) any shares of Switchback Common Stock, (b) any shares of Switchback Common Stock issued or issuable
upon the exercise of any warrant or other right to acquire shares of such Switchback Common Stock and (c) any equity securities
of Switchback that may be issued or distributed or be issuable with respect to the securities referred to in clauses (a) or (b)
by way of conversion, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification
or similar transaction.

 

    2

     

    

 

“Transfer”
shall mean any direct or indirect sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other transfer, or
entry into any agreement with respect to any sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other transfer,
excluding entry into this Agreement and the Business Combination Agreement and the consummation of the transactions contemplated
hereby and thereby.

 

2. Lock-Up.

 

2.1 Lock-Up.
Each Lock-Up Party severally, and not jointly, agrees with Switchback not to effect any Transfer, or make a public announcement
of any intention to effect such Transfer, of any Lock-Up Securities Beneficially Owned or otherwise held by such Lock-Up Party
during the Lock-Up Period (as defined below); provided, that such prohibition shall not apply to Transfers permitted pursuant
to Section 2.2. The “Lock-Up Period” shall be the period commencing on the Closing Date and ending on
the date that is six (6) months following the Closing Date.

 

2.2 Permitted Transfers.
Notwithstanding anything to the contrary contained in this Agreement, during the Lock-Up Period, each Lock-Up Party may Transfer,
without the consent of Switchback, any of such Lock-Up Party’s Lock-Up Securities (i) to any of such Lock-Up Party’s
Permitted Transferees, upon written notice to Switchback or (ii) (a) in the case of an individual, by virtue of laws of descent
and distribution upon death of the individual; (b) in the case of an individual, pursuant to a qualified domestic relations order;
or (c) pursuant to any liquidation, merger, stock exchange or other similar transaction which results in all of Switchback’s
stockholders having the right to exchange their Switchback Securities for cash, securities or other property subsequent to the
Merger; provided, that in connection with any Transfer of such Lock-Up Securities, the restrictions and obligations contained
in Section 2.1 and this Section 2.2 will continue to apply to such Lock-Up Securities after any Transfer of such
Lock-Up Securities and such transferee shall execute a lock-up agreement substantially in the form of this Agreement for the balance
of the Lock-Up Period. Notwithstanding the foregoing provisions of this Section 2.2, a Lock-Up Party may (i) not make a
Transfer to a Permitted Transferee if such Transfer has as a purpose the avoidance of or is otherwise undertaken in contemplation
of avoiding the restrictions on Transfers in this Agreement (it being understood that the purpose of this provision includes prohibiting
the Transfer to a Permitted Transferee (A) that has been formed to facilitate a material change with respect to who or which entities
Beneficially Own the Lock-Up Securities, or (B) followed by a change in the relationship between the Lock-Up Party and the Permitted
Transferee (or a change of control of such Lock-Up Party or Permitted Transferee) after the Transfer with the result and effect
that the Lock-Up Party has indirectly made a Transfer of Lock-Up Securities by using a Permitted Transferee, which Transfer would
not have been directly permitted under this Article II had such change in such relationship occurred prior to such Transfer), or
(ii) enter into a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act after the date of this Agreement
relating to the sale of the undersigned’s Lock-Up Securities, provided that (A) the securities subject to such plan
may not be sold until after the expiration of the Lock-Up Period and (B) the Company shall not be required to effect, and the undersigned
shall not effect or cause to be effected, any public filing, report or other public announcement regarding the establishment of
the trading plan.

 

    3

     

    

 

3. Additional Agreements.

 

3.1 Confidentiality.
Until the Expiration Time, each Lock-Up Party will and will direct their Affiliates to keep confidential and not disclose any non-public
information relating to Switchback or the Company and their respective subsidiaries, including the existence or terms of, or transactions
contemplated by, this Agreement, the Business Combination Agreement or the other Transaction Documents, except to the extent that
such information (i) was, is or becomes generally available to the public after the date hereof other than as a result of a disclosure
by such Lock-Up Party in breach of this Section 3.1, (ii) is, was or becomes available to such Lock-Up Party on a non-confidential
basis from a source other than Switchback or the Company, or (iii) is or was independently developed by such Lock-Up Party after
the date hereof. Notwithstanding the foregoing, such information may be disclosed to the extent required to be disclosed in a judicial
or administrative proceeding, or otherwise required to be disclosed by applicable Law (including complying with any oral or written
questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process to which
such disclosing party is subject), provided that such Lock-Up Party gives Switchback or the Company, as applicable, prompt
notice of such request(s) or requirement(s), to the extent practicable (and not prohibited by Law), so that the Switchback or the
Company may seek, at its expense, an appropriate protective order or similar relief (and such Lock-Up Party shall reasonably cooperate
with such efforts it being understood that such obligation to reasonably cooperate does not require a Lock-Up Party to itself commence
litigation regarding such protective order or similar relief).

 

3.2 Switchback Board
Release. Notwithstanding anything in this Agreement to the contrary, it is understood and agreed that, from and after the Closing
Date, the Board of Directors of Switchback shall be entitled to release any Lock-Up Party from any or all of its obligations hereunder,
in each case on behalf of Switchback and the Company, provided, however, if one Lock-Up Party is released, the other Lock-Up Parties
shall also be similarly released to the same relative extent as the released Lock-Up Party.

 

4. Representations
and Warranties of the Lock-Up Parties. Each Lock-Up Party hereby represents and warrants, severally and not jointly, to the
Company and Switchback as follows:

 

4.1 Due Authority.
Such Lock-Up Party has the full power and authority to execute and deliver this Agreement and perform its obligations hereunder.
If such Lock-Up Party is an individual, the signature to this agreement is genuine and such Lock-Up Party has legal competence
and capacity to execute the same. This Agreement has been duly and validly executed and delivered by such Lock-Up Party and, assuming
due execution and delivery by the other parties hereto, constitutes a legal, valid and binding obligation of such Lock-Up Party,
enforceable against such Lock-Up Party in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, by general equitable
principles.

 

    4

     

    

 

4.2 No Conflict;
Consents.

 

(a) The execution
and delivery of this Agreement by such Lock-Up Party does not, and the performance by such Lock-Up Party of the obligations under
this Agreement and the compliance by such Lock-Up Party with any provisions hereof do not and will not: (i) conflict with
or violate any Law applicable to such Lock-Up Party, (ii) if such Lock-Up Party is an entity, conflict with or violate the
certificate of incorporation or bylaws or any equivalent organizational documents of such Lock-Up Party, or (iii) result in
any breach of, or constitute a default (or an event, which with notice or lapse of time or both, would become a material default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a
lien on any of the securities of the Company owned by such Lock-Up Party pursuant to any note, bond, mortgage, indenture, contract,
agreement, lease, license, permit, franchise or other instrument or obligation to which such Lock-Up Party is a party or by which
such Lock-Up Party is bound, except, in the case of clauses (i) and (iii), as would not reasonably be expected, individually
or in the aggregate, to materially impair the ability of such Lock-Up Party to perform its obligations hereunder or to consummate
the transactions contemplated hereby.

 

(b) The execution
and delivery of this Agreement by such Lock-Up Party does not, and the performance of this Agreement by such Lock-Up Party will
not, require any consent, approval, authorization or permit of, or filing or notification to, or expiration of any waiting period
by any Governmental Authority or any other Person with respect to such Lock-Up Party, other than those set forth as conditions
to closing in the Business Combination Agreement.

 

4.3 Absence of Litigation.
As of the date hereof, there is no litigation, suit, claim, charge, grievance, action, proceeding, audit or investigation by or
before any Governmental Authority (an “Action”) pending against, or, to the knowledge of such Lock-Up Party after reasonable
inquiry, threatened against such Lock-Up Party that would reasonably be expected to materially impair the ability of such Lock-Up
Party to perform its obligations hereunder or to consummate the transactions contemplated hereby.

 

4.4 Absence of Conflicting
Agreements. Such Lock-Up Party has not entered into any agreement, arrangement or understanding that is otherwise materially
inconsistent with, or would materially interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this
Agreement.

 

5. Fiduciary Duties.
The covenants and agreements set forth herein shall not prevent any designee of any Lock-Up Party from serving on the Board of
Directors of the Company or from taking any action, subject to the provisions of the Business Combination Agreement, while acting
in such designee’s capacity as a director of the Company. Each Lock-Up Party is entering into this Agreement solely in its
capacity as the anticipated owner of Switchback Securities following the consummation of the Merger.

 

6. Termination.
Upon termination of this Agreement, none of the parties hereto shall have any further obligations or liabilities under this Agreement;
provided, that nothing in this Section 6 shall relieve any party hereto of liability for any willful material
breach of this Agreement prior to its termination.

 

    5

     

    

 

7. Miscellaneous.

 

7.1 Severability.
In the event that any term, provision, covenant or restriction of this Agreement, or the application thereof, is held to be illegal,
invalid or unenforceable under any present or future Law: (a) such provision will be fully severable; (b) this Agreement
will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof; (c) the
remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or
unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid or unenforceable provision,
there will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms of such
illegal, invalid or unenforceable provision as may be possible.

 

7.2 Non-survival
of Representations and Warranties. None of the representations or warranties in this Agreement or in any schedule, instrument
or other document delivered pursuant to this Agreement shall survive the Expiration Time.

 

7.3 Assignment.
No party hereto may assign, directly or indirectly, including by operation of Law, either this Agreement or any of its rights,
interests or obligations hereunder without the prior written approval of the other parties hereto, except with respect to a Transfer
completed in accordance with Section 2.2. Subject to the first sentence of this Section 7.3, this Agreement
shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.
Any assignment in violation of this Section 7.3 shall be void ab initio.

 

7.4 Amendments and
Modifications. This Agreement may be amended by the parties hereto at any time by execution of an instrument in writing signed
by (1) Switchback, (2) the Company and (3), if prior to the Closing Date, by Lock-Up Parties holding 75% of the shares of the Company
(measured by shares of Company common stock, par value $0.0001 per share (the “Company Common Stock”), and assuming
the exercise and conversion of all then-outstanding Company securities into shares of Company Common Stock) then held by Lock-Up
Parties, and, if after the Closing Date, by Lock-Up Parties holding 75% of the Lock-Up Securities (assuming the exercise of all
then-outstanding warrants and options that are Lock-Up Securities) that are then subject to this Agreement. Any such amendment
shall be binding on all the Lock-Up Parties, but in no event shall the obligation of any Lock-Up Parties hereunder be materially
increased, except upon the written consent of such Lock-Up Parties.

 

7.5 Specific Performance.
The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance
with the terms hereof, and, accordingly, that the parties shall be entitled to an injunction or injunctions to prevent breaches
of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the Court of Chancery of the
State of Delaware, County of Newcastle, or, if that court does not have jurisdiction, any court of the United States located in
the State of Delaware without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled
at Law or in equity as expressly permitted in this Agreement. Each of the parties hereby further waives (1) any defense in any
action for specific performance that a remedy at Law would be adequate and (2) any requirement under any Law to post security or
a bond as a prerequisite to obtaining equitable relief.

 

    6

     

    

 

7.6 Notices.
All notices, consents and other communications hereunder shall be in writing and shall be deemed given if delivered personally
or by a nationally recognized courier service guaranteeing overnight delivery, or sent via email to the parties hereto at the following
addresses, and such communications, to be valid, must be addressed as follows:

 

(i) if to Switchback
prior to the Merger, to:

 

Switchback Energy Acquisition Corporation

5949 Sherry Lane, Suite 1010

Dallas, TX 75225

Attention: Jim Mutrie

Email: jmutrie@switchback-energy.com

 

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

 

Vinson & Elkins L.L.P.

1001 Fannin St.

Suite 2500

Houston, TX 77002

Attention: Douglas McWilliams; Ramey Layne

Email: dmcwilliams@velaw.com; rlayne@velaw.com

 

(ii) if to the Company
or Switchback following the Merger, to:

 

ChargePoint, Inc.

240 East Hacienda Avenue

Campbell, CA 95008

Attention: Rex Jackson

Email: rex.jackson@chargepoint.com

 

with copies to:

 

Weil, Gotshal & Manges LLP

767 5th Avenue

New York, NY 10153

Attention: Michael Aiello; Amanda Fenster

Email: michael.aiello@weil.com; amanda.fenster@weil.com

 

and

 

Gunderson Dettmer Stough Villeneuve
Franklin & Hachigian, LLP

550 Allerton Street

Redwood City, CA 94063

Attention: David Young; Jeffrey R. Vetter

Email: dyoung@gunder.com; jvetter@gunder.com

 

    7

     

    

 

(iii) if to a Lock-Up
Party, to the address for notice set forth on such Lock-Up Party’s signature page to this Agreement,

 

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

 

Weil, Gotshal & Manges LLP

767 Fifth Avenue

New York, NY 10153

Attention: Michael Aiello; Amanda Fenster

Email: michael.aiello@weil.com; amanda.fenster@weil.com

 

and

 

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian,
LLP

550 Allerton Street

Redwood City, CA 94063

Attention: David Young; Jeffrey R. Vetter

Email: dyoung@gunder.com; jvetter@gunder.com

 

unless otherwise specified herein, such
notices or other communications will be deemed given (a) on the date established by the sender as having been delivered personally;
(b) one business day after being sent by a nationally recognized overnight courier guaranteeing overnight delivery; (c) upon
transmission, if sent by email (provided no “bounceback” or notice of non-delivery is received); or (d) on
the fifth business day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.

 

7.7 Governing Law.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts
executed in and to be performed in that State. All legal actions and proceedings arising out of or relating to this Agreement shall
be heard and determined exclusively in any Delaware Chancery Court; provided, that if jurisdiction is not then available in the
Delaware Chancery Court, then any such legal Action may be brought in any federal court located in the State of Delaware or any
other Delaware state court. The parties hereto hereby (a) irrevocably submit to the exclusive jurisdiction of the aforesaid courts
for themselves and with respect to their respective properties for the purpose of any Action arising out of or relating to this
Agreement brought by any party hereto, and (b) agree not to commence any Action relating thereto except in the courts described
above in Delaware, other than Actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered
by any such court in Delaware as described herein. Each of the parties further agrees that notice as provided herein shall constitute
sufficient service of process and the parties further waive any argument that such service is insufficient. Each of the parties
hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise,
in any Action arising out of or relating to this Agreement or the transactions contemplated hereby, (a) any claim that it is not
personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (b) that it or its property
is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service
of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c)
that (i) the Action in any such court is brought in an inconvenient forum, (ii) the venue of such Action is improper or (iii) this
Agreement, or the subject matter hereof, may not be enforced in or by such courts.

 

    8

     

    

 

7.8 WAIVER OF JURY
TRIAL. Each of the parties hereto hereby waives to the fullest extent permitted by
applicable Law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under
or in connection with this Agreement or the Transactions CONTEMPLATED HEREBY. Each of the parties hereto (a) certifies that no
representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not,
in the event of litigation, seek to enforce that foregoing waiver and (b) acknowledges that it and the other hereto have been induced
to enter into this Agreement and the Transactions CONTEMPLATED HEREBY, as applicable, by, among other things, the mutual waivers
and certifications in this Section 7.8.

 

7.9 Entire Agreement;
Third-Party Beneficiaries. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings, both written and oral, among the parties hereto with respect
to the subject matter hereof, and is not intended to confer upon any other Person other than the parties hereto any rights or remedies.

 

7.10 Counterparts.
This Agreement and each other document executed in connection with the transactions contemplated hereby, and the consummation thereof,
may be executed in one or more counterparts, all of which shall be considered one and the same document and shall become effective
when one or more counterparts have been signed by each of the parties hereto and delivered to the other parties hereto, it being
understood that all parties hereto need not sign the same counterpart. Delivery by electronic transmission to counsel for the other
party of a counterpart executed by a party shall be deemed to meet the requirements of the previous sentence.

 

7.11 Effect of 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.

 

7.12 Legal Representation.
Each of the parties hereto agrees that it has been represented by independent counsel of its choice during the negotiation and
execution of this Agreement and each party hereto 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 hereto drafting such agreement
or document. Each Lock-Up Party acknowledges that Weil, Gotshal & Manges LLP and Gunderson Dettmer Stough Villeneuve Franklin
& Hachigian, LLP are acting as counsel to the Company in connection with the Business Combination Agreement and the transactions
contemplated thereby, and that neither of such firms is acting as counsel to any Lock-Up Party.

 

7.13 Expenses.
Except as otherwise set forth in this Agreement, all fees and expenses incurred in connection with this Agreement and the transactions
contemplated hereby shall be paid by the party hereto incurring such expenses.

 

    9

     

    

 

7.14 Further Assurances.
At the request of Switchback or the Company, in the case of any Lock-Up Party, or at the request of the Lock-Up Parties, in the
case of Switchback, and without further consideration, each party shall execute and deliver or cause to be executed and delivered
such additional documents and instruments and take such further action as may be reasonably necessary to consummate the transactions
contemplated by this Agreement.

 

7.15 Waiver.
No failure or delay on the part of either party to exercise any power, right, privilege or remedy under this Agreement shall operate
as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or
remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. Neither party shall
be deemed to have waived any claim available to such party arising out of this Agreement, or any power, right, privilege or remedy
under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument
duly executed and delivered on behalf of such waiving party; and any such waiver shall not be applicable or have any effect except
in the specific instance in which it is given.

 

7.16 Several Liability.
The liability of any Lock-Up Party hereunder is several (and not joint). Notwithstanding any other provision of this Agreement,
in no event will any Lock-Up Party be liable for any other Lock-Up Party’s breach of such other Lock-Up Party’s representations,
warranties, covenants, or agreements contained in this Agreement.

 

7.17 No Recourse.
Notwithstanding anything to the contrary contained herein or otherwise,
but without limiting any provision in the Business Combination Agreement, 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 stockholders, equity holders,
controlling persons, directors, officers, employees, general or limited partners, members, managers, agents or affiliates of any
party hereto, or any former, current or future direct or indirect stockholder, 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 to this Agreement 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 hereto, 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 pages follow.]

 

    10

     

    

 

In witness whereof,
the parties hereto have caused this Agreement to be executed as of the date first set forth above.

 

	 	SWITCHBACK ENERGY ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	Name: 	Jim Mutrie
	 	Title:	Chief Commercial Officer, General Counsel and Secretary

 

Signature
Page to

Lock-Up
Agreement

 

     

     

    

 

	 	Chargepoint, Inc.
	 	 	 
	 	By:	                 
	 	Name:	 
	 	Title:	 

 

Signature
Page to

Lock-Up
Agreement

 

     

     

    

 

In witness whereof,
the parties hereto have caused this Agreement to be executed as of the date first set forth above.

 

	 	LOCK-UP PARTIES:
	 	 	 
	 	[●]	 
	 	 	 
	 	By:	     
	 	Name:	 
	 	Title:	 

 

	 	 	 
	 	[●]	 
	 	 	 
	 	Address: 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Email Address: 	 

 

Signature
Page to

Lock-Up
Agreement

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