Document:

EX-10.9

  Exhibit 10.9 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS
EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED. 
 THIS WARRANT AND THE
SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN QUALIFIED FOR DISTRIBUTION UNDER APPLICABLE CANADIAN SECURITIES LEGISLATION OR REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE SOLD, DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED, OR OTHERWISE TRANSFERRED UNLESS (A) IN CANADA, A RECEIPT FOR A PROSPECTUS QUALIFYING SUCH TRANSACTION HAS BEEN OBTAINED UNDER APPLICABLE CANADIAN SECURITIES
LEGISLATION OR A PROSPECTUS EXEMPTION QUALIFYING SUCH TRANSACTION IS AVAILABLE UNDER APPLICABLE CANADIAN SECURITIES LEGISLATION, OR (B) IN THE UNITED STATES, THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT COVERING SUCH
TRANSACTION, OR (B) SUCH TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT. 
 UNLESS PERMITTED UNDER APPLICABLE CANADIAN SECURITIES
LEGISLATION, THE HOLDER OF THIS WARRANT AND ANY SECURITIES ISSUABLE UPON EXERCISE HEREOF MUST NOT TRADE THE WARRANT OR SUCH SECURITIES BEFORE THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE LATER OF (A) THE ISSUE DATE, AND (B) THE DATE THE
COMPANY BECAME A REPORTING ISSUER IN ANY PROVINCE OR TERRITORY OF CANADA. 
 Issue Date: July 1, 2020 

LION BUSES INC. 
 WARRANT
TO PURCHASE SHARES 
 This Warrant is issued to Amazon.com NV Investment Holdings LLC (the “Holder”)
by Lion Buses Inc. (the “Company”). The Holder is entitled to exercise this Warrant to purchase equity of the Company (the “Warrant Shares”) as more particularly described in
Exhibit A hereto (the “Schedule of Terms”), on the terms provided herein and in the Schedule of Terms. The Warrant Shares will vest and become exercisable in accordance with the
vesting terms provided in this Warrant and the Schedule of Terms and this Warrant is non-forfeitable with respect to vested Warrant Shares. For the avoidance of doubt, the Holder will have no right to acquire
any Warrant Shares prior to their respective vesting. 
  

	 	1.	 Exercise of Warrant 

1.1    Exercise Period. This Warrant may be exercised by the Holder, in whole or in part with respect to
vested Warrant Shares at any time during the Exercise Period (as defined in the Schedule of Terms) on the terms provided herein and in the Schedule of Terms. The Exercise Period will be stayed during any waiting period imposed by any applicable
Antitrust Law (as defined below) or other applicable law in connection with the exercise of this Warrant. The Company will reasonably cooperate with the Holder and its affiliates, and the Holder and its affiliates will reasonably cooperate with the
Company, in connection with any proceedings under any Antitrust Law or other applicable law, including by providing all information required for any application, notification, or other filing to be made pursuant to any such laws. 

1.2    Method of Exercise. The Holder may exercise this Warrant to acquire vested Warrant Shares by
delivering to the Company (a) this Warrant and (b) the Notice of Exercise attached as Exhibit B hereto, duly executed by the Holder, indicating whether the Holder elects to purchase Warrant Shares for cash or if
the Holder elects to exercise on a net issuance basis. Upon exercise in whole or in part of this Warrant, the Holder will become a party to the Unanimous Shareholders Agreement of the Company dated October 31, 2017, as amended through the date
of this Warrant (the “Company Agreement”) and the Holder will be deemed an Existing Shareholder (as defined in the Company Agreement), provided that (a) the Holder will not be bound by or subject to any term in the Company
Agreement that would (i) in any way, directly or indirectly, restrict, limit, impair, or restrain, or impose any requirement in respect of, the conduct and operation of the businesses of Amazon.com, Inc. or its affiliates, or permit any
restriction, limitation, impairment, or restraint on, or the imposition of any requirement in respect of, the conduct and operation of the businesses of Amazon.com, Inc. or its affiliates or (ii) restrict the Holder from transferring any
Warrant Shares to Amazon.com, Inc. or any of its affiliates, and (b) in the event that the Company Agreement contains a drag-along right with respect to a sale of the Company binding on the Holder with respect to its Warrant Shares, such
drag-along right will be subject to the following requirements: (1) all Warrant Shares held by the Holder are entitled to receive, on a per share basis, the same form and amount of consideration with respect to such shares upon consummation of
the proposed transaction (the “Drag-Along Transaction”) as all other holders of shares of the same class as the Warrant Shares are entitled to receive with respect to their shares upon consummation of the Drag-Along Transaction;
(2) any representations and warranties to be made by the Holder in connection with the Drag-Along Transaction are limited to representations and warranties related to 

 
authority, ownership of the Warrant Shares held by the Holder and the ability to convey title to such Warrant Shares; (3) the Holder will not be required to enter into any indemnity
agreement or otherwise be liable for the inaccuracy or breach of any representation or warranty made by any other person in connection with the Drag-Along Transaction, except for any representation or warranty made by the Company and, in such case,
(i) only to the same extent as the other holders of shares of the same class as the Warrant Shares and (ii) provided such liability of the Holder is limited to payments from an escrow or holdback covering such inaccuracy or breach;
(4) the Holder’s aggregate liability in connection with the Drag-Along Transaction, including with respect to any inaccuracy or breach of any representations and warranties, covenants or other agreements made by the Holder in connection
with the Drag-Along Transaction, will be capped at the Holder’s proceeds to be actually received in such Drag-Along Transaction, other than in the case of common law fraud by the Holder; (5) the Holder will not be required to enter into
any covenant, obligation, or release, except, in the case of a release, solely to the extent the release is limited to claims arising in the Holder’s capacity as a stockholder of the Company; (6) the Drag-Along Transaction will have been
approved by the shareholders of the Company in accordance with the Company Agreement and the Board, if required by the Company’s constating documents; (7) all other equityholders of the Company of the same class of shares as the Warrant
Shares will have agreed (or be deemed to have agreed pursuant to such drag-along right) to participate in such Drag-Along Transaction on terms no more beneficial to them than those set forth in this Section 1.2; and (8) the Company will
have complied with its obligations under Section 12 in Schedule of Terms. 
 1.3    Cash Exercise. If
the Holder elects to exercise this Warrant to purchase vested Warrant Shares for cash, the Holder will make payment by check or wire transfer in the amount of the Exercise Price (as defined in the Schedule of Terms, subject to adjustment as provided
herein) multiplied by the number of vested Warrant Shares for which this Warrant is being exercised, and the issuance of the applicable number of vested Warrant Shares for which this Warrant is being exercised will be conditional upon the Holder
making such payment of the applicable Exercise Price. The Exercise Price is the product of an arms’-length negotiation and is intended to reflect the present fair market value of the Warrant Shares. 

1.4    Net Issuance. If the Holder elects to exercise this Warrant on a net issuance basis, the Holder will
not be required to make a cash payment, and the Company will issue to the Holder a number of Warrant Shares computed using the following formula: 
  

			
	X = (A - B) x C	  	where:
	A  	  	 

 
			
		
	X  =	  	the number of Warrant Shares to be issued to the Holder;
		
	A  =	  	the Fair Market Value (as defined below) of one Warrant Share on the date of net issuance exercise;
		
	B  =	  	the Exercise Price (as adjusted to the date of such calculation); and
		
	C  =	  	the number of vested Warrant Shares issuable under this Warrant or, if only a portion of this Warrant is being exercised, the number of vested Warrant Shares as to which the Holder elects to exercise.

  

	 	2.	 Delivery of Certificates; No Fractional Shares 

Within five days after exercise of this Warrant, the Company will at its expense issue and deliver to the Holder (a) a certificate or
certificates for the number of Warrant Shares to which the Holder is entitled upon such exercise or, if the Company does not issue certificates for its securities, an electronic certificate or other evidence of the valid issuance of the number of
Warrant Shares to which the Holder is entitled upon such exercise, and (b) if applicable, a new warrant with terms identical to this Warrant to purchase that number of Warrant Shares as to which this Warrant has not been exercised. The Holder
will for all purposes be deemed to have become the holder of record of such Warrant Shares on the date this Warrant is exercised in accordance with the terms hereof, irrespective of the date of delivery of certificate(s) representing the Warrant
Shares. No fractional shares or scrip will be issued upon the exercise of this Warrant. In lieu of a fractional share or scrip, the Company will pay the Holder an amount in cash equal to the Fair Market Value of the fractional share on the date of
exercise. 
  

	 	3.	 Representations, Warranties, and Covenants 

3.1    The Company represents and warrants that it is duly organized, validly existing, and in good standing under
the laws of its jurisdiction of formation. The Company represents and warrants that all corporate actions, approvals, and consents on the part of the Company, its officers, directors, and equityholders, and any third party necessary for the issuance
of this Warrant and the Warrant Shares have been taken, including the reservation of sufficient Warrant Shares. 

3.2    The Company represents and warrants that the capitalization table attached as
Exhibit C hereto accurately and completely reflects the Company’s authorized and issued equity capital as of the Issue Date. All of the outstanding shares of equity of the Company have been
duly authorized, are fully paid and nonassessable, and were issued in compliance with applicable law. 

3.3    The Company covenants that at all times during the Exercise Period there will be reserved for issuance such
number of shares as is necessary for exercise in full of this Warrant. All Warrant Shares issued pursuant to the exercise of this Warrant according to the terms of this Warrant will, upon their issuance, be validly issued and outstanding, fully paid
and nonassessable, free and clear of all liens and other encumbrances or restrictions on sale, and free and clear of all preemptive rights, and such Warrant Shares will be issued free from all taxes, liens, and charges with respect to the issuance
thereof (other than transfer restrictions created by the Company Agreement or as a matter of securities laws or created by or at the direction of the Holder or any of its affiliates). 

  
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 3.4    The Company will not, directly or indirectly, by amendment
of its constating documents or by reorganization, sale or transfer of assets, consolidation, merger, dissolution, issuance or sale of securities, or any other voluntary action, (a) avoid or seek to avoid the observance or performance of any of
the terms of this Warrant to be observed or performed by the Company, but will at all times and in good faith assist in the carrying out of all such terms and in the taking of all such action as is necessary or appropriate in order to comply with
the terms of this Warrant and avoid the impairment of the rights and interests of the Holder, or (b) take any action which is inconsistent with the rights and interests granted to the Holder in this Warrant or otherwise conflicts with the
provisions hereof. 
 3.5    The Company represents and warrants that as of the Issue Date (a) none of its
current 10% or greater direct equityholders is a U.S. individual, partnership or corporation and (b) it is not currently a “passive foreign investment company” as such term is defined in Section 1297 of the Code. 

3.6    The Company represents and warrants that its Common shares do not currently derive, and represents and
warrants that they have not derived during the 60-month period preceding the date hereof, more than 50% of their fair market value from one or any combination of: 

(a)    real or immovable property situated in Canada, 

(b)    Canadian resource properties (as defined in the ITA), 

(c)    timber resource properties (as defined in the ITA), and 

(d)    options in respect of, or interests in, or for civil law rights in, property described in any of subparagraphs
(a) to (c), whether or not the property exists. 
  

	 	4.	 Certain Events. 

4.1    Change of Control. 

(a)    If there is a Change of Control (as defined below) during the Exercise Period in which the consideration to be
received by the shareholders of the Company holding shares of the same class as the Warrant Shares (meaning, as of the date hereof, the Common shares of the Company) consists solely of cash (a “Cash Change of Control”) and
the Holder has not exercised this Warrant in full prior to consummation of such Cash Change of Control, and: 

(i)    if the Fair Market Value of one Warrant Share (as of the closing date of such Cash Change of
Control) is greater than the Exercise Price, then this Warrant will be deemed automatically exercised pursuant to a net issuance exercise under Section 1.4 (even if not surrendered) in respect of all the vested Warrant Shares (including
those that vest as contemplated in Item 10 of the Schedule of Terms) immediately before the consummation of such Cash Change of Control, and the Holder will be entitled to receive a portion of the proceeds payable in the Cash Change of Control
equal to the amount payable to holders of the same number and class of shares as the Holder is entitled to receive pursuant to such exercise; 

(ii)    if the ultimate acquirer is Power Energy Corporation or one or more of its affiliates (such Cash
Change of Control, a “PEC Cash Change of Control”) and the Fair Market Value of one Warrant Share (as of the closing date of such Cash Change of Control) is less than or equal to the Exercise Price, then the Company, at the
election of the Holder, will cause the acquiring, surviving, or successor person to assume the obligations of this Warrant with respect to the Warrant Shares, including any unvested Warrant Shares, and this Warrant will thereafter be exercisable
with respect to securities of the acquiring, surviving, or successor person, and in any such case, appropriate adjustment shall be made in the application of the provisions of this Warrant with respect to the rights and interests of the Holder after
such PEC Cash Change of Control such that the provisions of this Warrant shall be applicable after that event, as near as reasonably may be, in relation to any securities deliverable after that event upon the exercise of this Warrant, and any
reference herein to “Warrant Shares” will include such securities of the acquiring, surviving or successor person; or 

(iii)    if such Cash Change of Control is not a PEC Cash Change of Control and the Fair Market Value of
one Warrant Share (as of the closing date of such Cash Change of Control) is less than or equal to the Exercise Price, then the Company will have the right to cause this Warrant to automatically terminate as of the consummation of such Cash Change
of Control. 
 (b)    This Warrant will automatically terminate, including with respect to any unvested Warrant Shares,
without relieving the Company or its successor of any obligations arising from a prior breach or non-compliance, following the payment in full of any amounts due to the Holder in connection with such Cash
Change of Control. 
 (c)    If there is a Change of Control during the Exercise Period in which the consideration to be
received by the shareholders of the Company holding shares of the same class as the Warrant Shares (meaning, as of the date hereof, the Common shares of the Company) consists of securities or other non-cash
property (each such transaction, excluding, for the avoidance of doubt, transactions covered by Section 5.1, a “Non-Cash Change of Control”), then the Company will cause the acquiring,
surviving, or successor person 

  
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to assume the obligations of this Warrant, and this Warrant will thereafter be exercisable for the same securities or other non-cash property that a holder
of the same class of shares as the Warrant Shares would have been entitled to receive in connection with such Non-Cash Change of Control if such holder held the same number of Warrant Shares as were
purchasable under this Warrant if this Warrant had been exercised in full immediately before the consummation of such Change of Control, subject to further adjustment from time to time in accordance with the provisions of this Warrant. 

4.2    Listing Event. 

(a)    In the event that the Company intends to undertake a Listing Event (as defined in Section 10.1(h)), the Company
will provide the Holder with notice prior to filing or submitting a prospectus or registration statement (including a draft prospectus or registration statement) that includes disclosure of beneficial owners of the Company’s equity in
connection with a Listing Event (a “Listing Event Notice”). The Listing Event Notice must be provided at least 14 days prior to the earlier of (i) the “as of” date used by the Company for disclosure
of beneficial owners and (ii) the date on which a Listing Event occurs. 
 (b)    In the event that the Company
determines that this Warrant or the terms hereof are required to be disclosed pursuant to applicable securities laws and regulations or securities exchange requirements in connection with the Listing Event, the Company will provide the Holder with
prompt written notice and an opportunity to comment on the proposed disclosure before such disclosure is made and, if requested by the Holder, will use commercially reasonable efforts (in cooperation with the Holder) to redact, seek a protective
order or confidential treatment, or take other appropriate action to avoid such disclosure, subject to requirements under applicable securities laws. 

(c)    Notwithstanding anything in this Warrant to the contrary: (i) from and after the Holder’s receipt of a
Listing Event Notice properly provided pursuant to Section 4.2(a), the Company will not honor any exercise of this Warrant, and the Holder will not have the right to exercise any portion of this Warrant, to the extent that, after giving effect
to an attempted exercise set forth on the applicable Notice of Exercise, the Holder (or any of its affiliates and other persons whose beneficial ownership of the relevant securities would be aggregated with the Holder’s for purposes of
Section 13(d) or Section 16 of the Exchange Act) would beneficially own in excess of 4.999% of any class of voting equity securities subject to the Exchange Act, calculated in accordance with Section 13(d) of the Exchange Act and the
related rules and regulations and after giving effect to the exercise of this Warrant; (ii) none of the limitations of clause (i) will be taken into account when determining the amount of securities or other
non-cash property subject to the assumed Warrant or the amount of cash the Holder is entitled to receive in the event of a Change of Control; (iii) if a Listing Event Notice is not properly provided, the
limitations of clause (i) will go into effect immediately prior to the “as of” date used by the Company for disclosure of beneficial owners in any registration statement; (iv) the provisions of this sentence should be construed
and implemented in a manner otherwise than in strict conformity with the terms of this sentence to correct this sentence (or any portion hereof) to the extent it may be defective or inconsistent with the intended beneficial ownership limitation of
clause (i) or to make changes or supplements necessary or desirable to properly give effect to such limitation; and (v) the limitations of clause (i) may be waived or amended by the Holder, in its sole discretion, upon written notice
to the Company, which waiver or amendment will not be effective until the 61st day after such notice is delivered by the Holder to the Company. For purposes of this Section 4.2(c), in determining the number of any class of voting equity
securities outstanding, the Holder may rely on the number of outstanding voting equity securities as stated in the most recent of the following: (i) the Company’s most recent periodic or annual filing with the applicable securities
commissions, as the case may be, (ii) a more recent public announcement by the Company that is filed with applicable securities commissions, or (iii) a more recent notice by the Company or the Company’s transfer agent to the Holder
setting forth the number of voting equity securities then outstanding. Upon the written request of the Holder, the Company shall, within three (3) business days thereof, confirm in writing to the Holder the number of voting equity securities
then outstanding. The Company will be entitled to rely on representations made to it by the Holder in any Notice of Exercise regarding its beneficial ownership limitation under this Section 4.2. By accepting this Warrant, the Holder
acknowledges that the Holder is solely responsible for any schedules or statements required to be filed by it in accordance with Section 13(d) or Section 16(a) of the Exchange Act. 

4.3    Automatic Exercise before Expiration. To the extent this Warrant is not previously exercised as to
all of the Warrant Shares issuable hereunder, and if the Fair Market Value of one Warrant Share (at such measurement date) is greater than the Exercise Price, this Warrant will be deemed automatically exercised pursuant to a net issuance exercise
under Section 1.4 (even if not surrendered) immediately before its expiration. To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 4.3, the Company agrees promptly to notify the
Holder in writing of the number of Warrant Shares, if any, the Holder is to receive by reason of such automatic exercise. The Company will not be responsible to the Holder for any failure of the Holder to obtain any necessary approvals under
applicable Antitrust Law or other applicable law, except with respect to any failure of the Company to reasonably cooperate with the Holder and its affiliates in connection with any proceedings under any Antitrust Law or other applicable law
pursuant to Section 1.1. 
  

	 	5.	 Adjustments 

5.1    Reorganization. Upon any reclassification, capital reorganization, or change in the terms, conditions,
rights, or obligations with respect to share capital of the Company (other than a Change of Control transaction covered by Section 4.1) affecting the same class of shares as the Warrant Shares, the Company will make appropriate provision so
that the Holder will thereafter be 

  
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entitled to receive, upon exercise of this Warrant, the number and type of securities or other property that a holder of the same class of shares as the Warrant Shares would have been entitled to
receive in connection with such transaction if such holder held the same number of shares as were purchasable under this Warrant if this Warrant had been exercised immediately before such reclassification, reorganization, or change. 

5.2    Adjustments for Share Splits, Dividends. If the Company, directly or indirectly, issues any shares of
the same class as the Warrant Shares as a share dividend, or splits, subdivides, or consolidates such class of shares, then the Exercise Price in effect before such dividend, subdivision, or consolidation will be proportionately decreased or
increased, as applicable, and the number of Warrant Shares at that time issuable pursuant to the exercise of this Warrant will be proportionately increased or decreased, as applicable, so that (i) the Holder immediately after the effective or
record date for such event (or, if there is no such record date, as of the date of the declaration of such dividend), as applicable, will be entitled to purchase the number of Warrant Shares which it would have owned or been entitled to receive in
respect of the Warrant Shares subject to this Warrant after such date had this Warrant been exercised in full immediately prior to such date (disregarding whether or not this Warrant had been exercisable by its terms at such time), and (ii) the
Exercise Price in effect at the time of the effective or record date for such event (or, if there is no such record date, as of the date of the declaration of such dividend), as applicable, will be immediately adjusted to the number obtained by
dividing (x) the product of (A) the number of Warrant Shares issuable upon the exercise of this Warrant in full before the adjustment determined pursuant to the foregoing clause (i), disregarding whether or not this Warrant had been
exercisable by its terms at such time, and (B) the Exercise Price in effect immediately prior to such date for the event giving rise to such adjustment by (y) the new number of Warrant Shares issuable upon exercise of the Warrant in full
determined pursuant to the foregoing clause (i). Each adjustment in the number of Warrant Shares issuable will be rounded to the nearest whole share and each adjustment of the Exercise Price will be calculated to the nearest cent. Any adjustment
under this Section 5.2 will become effective at the close of business on the date the subdivision, split, subdivision, or consolidation becomes effective, or as of the record date of such dividend (or, if there is no such record date, as of the
date of the declaration of such dividend), provided that if the Holder exercises this Warrant after the applicable record or declaration date and before the effective date of such event, the Company will be entitled to defer until the effective date
of such event issuing to the Holder the additional number of shares that are required to be issued as a result of the adjustment. 

5.3    Anti-Dilution Protection. If any shares of the same class as the Warrant Shares are entitled, under
the Company’s constating documents or any contract to which the Company is a party, to an adjustment in the event of dilutive issuances of equity, then the Warrant Shares will be entitled to the same adjustment. 

5.4    Certificate as to Adjustments. If any adjustment is required to be made in the Exercise Price or
number and type of securities issuable upon exercise of this Warrant, the Company will as promptly as reasonably practicable give written notice to the Holder in the form of a certificate signed by an officer of the Company, setting forth the
adjustment in reasonable detail. 
  

	 	6.	 Registration Rights; Information Rights 

6.1    Registration Rights. All Warrant Shares issuable upon exercise of this Warrant will be subject to
customary registration rights to be agreed upon by the Holder, the Company, and, to the extent applicable, the Company’s then-existing equityholders, as promptly as reasonably practicable following the initial exercise of this Warrant (and, in
any event, prior to consummation of any Listing Event). The registration rights provided to the Holder will, among other things, (a) become effective as of the earlier of the time of consummation of the Listing Event and the date on which any
registration rights are provided by the Company to any other shareholder holding shares of the same class as the Warrant Shares, (b) if not effective prior to the time of consummation of the Listing Event, be limited to the jurisdiction(s)
where the shares of the same class as the Warrant Shares have been listed further to the Listing Event; and (c) be at least as favorable to the Holder as any registration rights that the Company has provided to any of its other shareholders
holding shares of the same class as the Warrant Shares (meaning, as of the date hereof, the Common shares of the Company) at such time. 

6.2    Information Rights. 

(a)    The Company will deliver to the Holder (to the notice address set out in Section 10.3): 

(i)    within 120 days after the end of each fiscal year of the Company, (A) an audited or
reviewed consolidated balance sheet of the Company and its subsidiaries and statement of shareholders’ equity of the Company, in each case as of the last day of such year, and an audited or reviewed consolidated income statement and statement
of cash flows of the Company and its subsidiaries, in each case for the period then ended, along with the notes to the financial statements, prepared in accordance with generally accepted accounting principles in Canada (as applicable) and
(B) a notice indicating the number of Warrant Shares that have vested as of the end of such fiscal year or as of the date of such notice (it being understood that any failure to deliver such notice, or any inaccuracy therein, will not affect or
impair the Holder’s rights or the Company’s obligations hereunder); 
 (ii)    within
45 days after the end of each fiscal quarter of the Company, an unaudited consolidated income statement, an unaudited consolidated cash flow statement, an unaudited consolidated balance sheet, and a consolidated statement of shareholder’s
equity, year to date and as of the end of such fiscal quarter; and 

  
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 (iii)    within 30 days after the consummation of
any third-party equity financing or any other material change in the equity capitalization of the Company, (A) an updated capitalization table for the Company (similar in format to the capitalization table attached as
Exhibit C hereto) as of the closing of such financing event or as of the date of such other material change, and (B) a copy of any amendments to the Company’s constituent documents, if
applicable. 
 (b)    On or before February 15 of each calendar year (or otherwise as provided herein), the Company
will provide such other information relating to the Company or its affiliates (as defined below) as reasonably requested by the Holder and as may be reasonably required for the Holder or any of its affiliates to prepare or file any tax return or to
prepare such filings with respect to the Company or any of its affiliates as may be required by any tax authority. 

(c)    All information received by the Holder pursuant to this Section 6.2 will be used by the Holder and its
affiliates for purposes of permitting the Holder and its affiliates to comply with their respective financial reporting and tax obligations (and any similar requirements of any governmental authority) and will be treated as confidential in
accordance with the terms of the NDA (as defined in the Commercial Agreement). 
  

	 	7.	 Lost or Damaged Warrant Certificate. 

Upon receipt by the Company of a letter from the Holder stating loss, theft, destruction, or damage of this Warrant, the Company will execute
and deliver to the Holder, without charge, a new warrant with identical terms as this Warrant. 
  

	 	8.	 Notices of Record Date, etc. 

In the event of any corporate action expressly or implicitly requiring the Company to establish a record date for its shareholders for any
corporate action (a) that would lead to an adjustment referred to in Sections 5.1 or 5.2, (b) for the purpose of determining shareholders entitled to receive payment of a dividend, to participate in a liquidation distribution, or to
participate in a redemption or purchase for cancellation of outstanding shares of the same class as the Warrant Shares, (c) for the purpose of approving or consenting to a Change of Control (subject to Section 12 of the Schedule of Terms)
or restructuring, reorganization, winding-up, dissolution, or insolvency of the Company, or (d) that would require a special resolution of the shareholders, the Company will provide to the Holder, at
least 10 business days prior to the earlier of the record date or date of such corporate action, a written notice specifying (i) the date on which any such event is to occur or such record is to be taken, and (ii) in reasonable detail, the
facts, including the proposed date and the nature of the proposed changes or actions, concerning any such event. 
  

	 	9.	 Investment Intent. 

By accepting this Warrant, (a) the Holder represents that it (i) is acquiring this Warrant for investment and not with a view to, or
for sale in connection with, any distribution or public offering thereof within the meaning of the Securities Act, (ii) understands that this Warrant and the Warrant Shares subject to this Warrant have not been registered under the Securities
Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(a)(2) thereof, (iii) is an “accredited investor” as such term is
defined in Rule 501 of Regulation D under the Securities Act and clause (m) of section 1.1 “accredited investor” of Regulation 45-106 “Prospectus Requirements”
(Québec), and (iv) that it is duly organized, validly existing, and in good standing under the laws of its jurisdiction of formation, and (b) the Holder acknowledges and agrees that (i) this Warrant and the Warrant Shares
subject to this Warrant have not been qualified for distribution or registered under securities laws by reason of their issuance in a transaction exempt from the Canadian prospectus and the U.S. registration requirements; (ii) this Warrant and
the Warrant Shares will bear the appropriate legend as required by applicable securities laws, and (iii) the Warrant and the Warrant Shares will be subject to restrictions on resale under applicable securities laws. 

 

	 	10.	 Miscellaneous. 

10.1    Certain Definitions. For purposes of this Warrant: 

(a)    “affiliate” means, as to any person, any person that directly or indirectly controls, is
controlled by, or is under common control with that person 
 (b)    “Antitrust Laws” means the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and any other antitrust, competition or merger control laws or regulations in the U.S., Canada, or anywhere in the world. 

(c)    “Change of Control” means (i) any consolidation, merger, amalgamation, reorganization,
or similar transaction involving the Company or its subsidiaries in which the Company or its subsidiary, as applicable, is not the surviving entity or pursuant to which the Company’s equityholders immediately prior to such transaction own,
immediately after such transaction, less than 50% of the voting power of the surviving entity, (ii) any transaction or series of related transactions in which 50% or more of the Company’s voting power is acquired by a person or group of
persons within the meaning of Section 13(d)(3) of the Exchange Act, other than (A) any internal reorganizations, (B) a transaction or series of related transactions that results in Power Energy Corporation or one or more of its
affiliates directly or indirectly holding less than 75% of the voting securities of the Company, provided that the Company continues to operate in its existing lines of business, or (C) any bona fide primary issuance of securities by the
Company for the purpose of raising working capital or capital expenditure for the Company and where the ultimate acquirer is an institutional investor or private equity 

  
 -6- 

 
investment firm, provided that the Company continues to operate in its existing lines of business, or (iii) the sale, lease, exclusive license, or other transfer, in any transaction or
series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries. 

(d)    “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

(e)    “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute. 
 (f)    “Fair Market Value” of a Warrant Share means: 

(i)    if shares of the same class as the Warrant Shares are traded on an exchange or an over-the-counter market, the average of the closing price for the five business days immediately preceding the date of net issuance exercise; 

(ii)    if the net issuance exercise is in connection with a Change of Control, the value of the
consideration to be received pursuant to such Change of Control by the holder of a share of the same class as the Warrant Shares; and 

(iii)    if neither of the above clauses applies, the Fair Market Value will be the price for a share of
the same class as the Warrant Shares that the Company could obtain from an arms’-length buyer who is not a current or former employee, officer, or director of the Company or its affiliates (such price to be exclusive of any control or other
similar premium), as determined in good faith by the Company’s board of directors (or equivalent governing body). The Company will promptly provide the Holder a written summary of such determination. 

(g)    ”ITA” means the Income Tax Act (Canada). 

(h)    “Listing Event” means any of the following: (i) the closing of the Company’s
initial public offering of securities pursuant to a prospectus filed under the securities legislation of one or more Canadian provinces in respect of which a (final) receipt has been obtained or pursuant to an effective registration statement
filed under the Securities Act; (ii) the registration of the Company’s securities under Section 12 of the Exchange Act in connection with its initial public offering, or the occurrence of any other event that results in the Warrant
Shares becoming a class of “equity security,” as such term is defined in Rule 13d-1(i) under the Exchange Act; or (iii) the closing of the Company’s initial public offering, or the
listing of the Company’s shares, on a securities exchange outside of the United States or Canada. 

(i)    “person” means any individual, corporation, partnership, trust, joint venture, limited
liability company, association, organization, other entity, or governmental or regulatory authority. 

10.2    No Shareholder Rights or Liabilities. Except as otherwise provided by the terms of this Warrant,
this Warrant will not entitle the Holder to (a) consent to any action of the Company’s shareholders, (b) receive notice of or vote at any meeting of the Company’s shareholders, (c) receive notice of any other proceedings of
the Company, or (d) exercise any other shareholder rights, in any such case, as a shareholder of the Company. In no event will the Holder have any liability hereunder, other than the consideration payable upon exercise of this Warrant pursuant
to Section 1.3 hereof. 
 10.3    Notices. Any notice under this Warrant will be given in
writing and will be sent by email, nationally recognized overnight courier service, certified mail (return receipt requested), or receipted facsimile to the other party at the address below. A party may change its notice address by giving notice in
accordance with this Section. 
  

			
	 If to the Holder:

Amazon.com NV Investment Holdings LLC

c/o Amazon.com, Inc.
 P.O.
Box 81226
 Seattle, WA 98108-1226

[***]

[***]
 Attn:
General Counsel
	  	 If to the Company:
 Lion
Buses Inc.
 921 ch. de la Rivière-du-Nord

Saint-Jérôme (Québec) J7Y5G2

[***]
 Attn:
Chief Executive Officer and Chief Financial Officer
  
 with a copy by email to:

 
 Stikeman Elliot LLP

Email: apelland@stikeman.com

Attention: Aniko Pelland

 10.4    Public Communications. Neither the Company nor its affiliates
will issue any press releases, publicity, or make any other disclosures regarding this Warrant, the terms hereof, or the nature or existence of any relationship between the parties without prior written authorization of such use by Amazon.com, Inc.
or any of its affiliates. This Warrant will be subject to the NDA (as defined in the Commercial Agreement). 

  
 -7- 

 10.5    Amendments and Waivers. This Warrant may be
amended, and the observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holder. 

10.6    Governing Law; Severability; Jurisdiction; Venue. This Warrant will be governed by and
construed under the laws of the State of Delaware without regard to principles of conflict of laws. If any Section or provision of this Warrant is found or held to be illegal, invalid, or unenforceable, the remainder of this Warrant will be valid
and enforceable and the parties in good faith will negotiate a substitute, valid, and enforceable provision that most nearly effects the parties’ intent in entering into this Warrant. The parties irrevocably consent to the jurisdiction and
venue of the state and federal courts located in New Castle County, Delaware, in connection with any action relating to this Warrant. 

10.7    Transfer; Successors and Assigns. Except as contemplated herein, no sale, distribution, assignment,
offer, pledge, hypothecation or other transfer of this Warrant may be made by the Holder. This Warrant and all rights hereunder are transferable by the Holder, in whole or in part, to any affiliate of the Holder (each such affiliate, for as
long as it is an affiliate of the Holder, a “Permitted Transferee”) upon surrender of this Warrant properly endorsed or accompanied by written instructions of transfer attached as Exhibit D
hereto, and the Company will issue a new warrant reflecting such transfer but otherwise identical to this Warrant. The Company may not assign this Warrant or its obligations under this Warrant without the prior written consent of the Holder,
except to an acquiring, surviving, or successor person in connection with a Change of Control. Further to a transfer where the Holder does not transfer the entirety of its rights to Warrant Shares to a Permitted Transferee, the Holder
will be entitled to receive from the Company a new warrant with terms identical to this Warrant for that number of Warrant Shares as to which the right was not transferred to a Permitted Transferee. The terms and conditions of this Warrant will
inure to the benefit of, and be binding on, the respective successors and permitted assigns of the Company and the Holder, respectively. 

10.8    U.S. Income Tax Treatment. The parties acknowledge that this Warrant is not being issued in
connection with the performance of services within the meaning of Section 83 of the Code, the Holder will engage a third party valuation firm to determine the value of this Warrant for U.S. tax purposes, and the issuance of this Warrant
represents a closed transaction for U.S. income tax purposes. The parties will not take a position on any U.S. income tax return inconsistent with this Section 10.8. 

10.9    Headings; Construction. The headings in this Warrant are for purposes of reference only and will not
limit or otherwise affect the meaning of any provision of this Warrant. The words “include” and “including” will be deemed in each case to be followed by the words “without limitation.” The symbol “$” refers
to United States Dollars. All references to “Warrant Shares” and “Exercise Price” will be deemed to include any such adjustments in accordance with the terms of this Warrant. 

[Signature Page Follows] 

  
 -8- 

 IN WITNESS WHEREOF, the Company has executed this Warrant as of the date first written
above. 
  

			
	 LION BUSES INC.

		
	By:	 	 (signed) Marc Bedard

	Name: Marc Bedard
	Title: CEO – Founder

  
 -9- 

 Exhibit A 

SCHEDULE OF TERMS OF WARRANT SHARES 

Capitalized terms used in this Schedule of Terms have the meanings ascribed to those terms in the Warrant or the Commercial Agreement, as applicable. 

 

					
	 1
	  	Name of Company:	    	Lion Buses Inc.
			
	 2
	  	Jurisdiction of formation and type of entity (e.g., corporation, LLC, etc.):	    	Corporation incorporated under the laws of the Province of Québec, Canada
			
	 3
	  	Class of equity subject to Warrant:	    	Common shares
			
	 4
	  	Holder’s fully diluted ownership percentage of the Company (as of the Issue Date, calculated on a post-exercise basis assuming full vesting of the Warrant):	    	19.9999%
			
	 5
	  	Number of Warrant Shares (as of the Issue Date, assuming full vesting of the Warrant):	    	8,561,603
			
	 6
	  	Assumed equity valuation (as of the Issue Date) on a fully diluted, pre-exercise basis:	    	$[***]
			
	 7
	  	Exercise Price (as of the Issue Date):	    	$23.36 per Warrant Share, subject to adjustment as contemplated in the Warrant.
			
	 8
	  	Exercise Period:	    	From the Issue Date until the 8th anniversary of the Issue Date.
			
	 9
	  	Vesting Schedule:	    	 Subject to the terms and conditions of the Warrant and the paragraph set forth below, the Warrant Shares will vest and become exercisable as
follows:
  
 •  Initial
Vesting: [***] Warrant Shares will vest and become immediately exercisable upon the earlier of (a) Amazon.com, Inc. or any of its affiliates referring to the Company in public posting (e.g., blog post, press release, or other
public mention) on or before [***]; or (b) Amazon.com, Inc. or any of its affiliates providing its consent to Lion issuing a press release or other public posting referring to the relationship under the Commercial Agreement, in
form and substance acceptable to Amazon.com, Inc. or any of its affiliates, on or before [***].
  

•  Tranche 1 Vesting Schedule: After the Issue Date, [***]
Warrant Shares will vest and become immediately exercisable as of the date on which Amazon Payments [***] (the “Tranche 1 Vesting
Event”).

					
		  		    	 •  Tranche 2 Vesting Schedule: After the Tranche 1
Vesting Event, [***] Warrant Shares will vest and become immediately exercisable upon each incremental [***] of Amazon Payments, up to a maximum total amount of [***] of Amazon Payments, inclusive of all
Tranche 1 Vesting Event payments (each, a “Tranche 2 Vesting Event”). For greater certainty, a total of [***] Warrant Shares may vest and become exercisable pursuant to the
Tranche 2 Vesting Schedule.
  

•  Tranche 3 Vesting Schedule: After the last possible Tranche 2 Vesting
Event, [***] Warrant Shares will vest and become immediately exercisable upon each incremental [***] of Amazon Payments, until the total number of Warrant Shares vested pursuant to the Warrant equals 8,561,603.

 
 Notwithstanding the foregoing, in the event that the aggregate amount of Amazon
Payments first equals or exceeds [***] prior to [***], the Tranche 3 Vesting Schedule will be adjusted such that:
  

•  [***] Warrant Shares (instead of [***] Warrant Shares) will vest and
become immediately exercisable upon each incremental [***] of Amazon Payments, up to a maximum total amount of [***] of Amazon Payments, inclusive of all Tranche 1 Vesting Event and Tranche 2 Vesting Event payments (for
greater certainty, a total of [***] Warrant Shares may vest and become exercisable pursuant to this paragraph); and
  

•  thereafter (i.e., in excess of [***] of total Amazon Payments, inclusive of all
Tranche 1 Vesting Event and Tranche 2 Vesting Event payments), [***] Warrant Shares will vest and become immediately exercisable upon each incremental [***] of Amazon Payments, until the total number of Warrant Shares
vested pursuant to the Warrant equals 8,561,603.
  
 “Amazon
Payments” means the aggregate amount of all payments or other consideration made or provided (or deemed made or provided via offset or otherwise) by or on behalf of Purchaser or its affiliates (including by third parties referred by
Purchaser or any of its affiliates, for instance by a third-party financing company, in accordance with the Commercial Agreement or such other agreement between Purchaser and the Company or in each case any of their respective affiliates as
applicable) to the Company or any of its affiliates or designees after the Issue Date pursuant to the Commercial Agreement or any other agreement between Purchaser and the Company or in each case any of their respective affiliates.
“Amazon Payments” will not include (i) any Additional Charges (as defined in the Commercial Agreement), and (ii) any amount payable by Purchaser pursuant to an indemnification obligation under the Commercial
Agreement, unless the same is comprised of amounts that would otherwise constitute payments for products or services under the Commercial Agreement.

  
 -A-2- 

					
	10	  	Acceleration of Vesting:	    	 (a)   All then-unvested Warrant Shares will become fully vested and immediately
exercisable upon termination of the Commercial Agreement (as defined below) by the Holder, Amazon.com, Inc., or any of their affiliates for cause, on the terms set forth in the Commercial Agreement and subject to any cure periods set out
therein.
  
 (b)   Immediately
prior to the consummation of any Change of Control:
  

(i) if the sum of (A) the number of then-vested Warrant Shares and (B) the number of then-unvested
Warrant Shares that would otherwise vest upon the payment of the aggregate amount of Payments pursuant to all final, non-cancellable purchase orders (if any) then placed by Amazon.com, Inc. or any of its
affiliates under the Commercial Agreement or any other agreement is less than [***], then 25% of the then-unvested Warrant Shares will become fully vested and immediately exercisable;

 
 (ii)  if the sum of (A) the
number of then-vested Warrant Shares and (B) the number of then-unvested Warrant Shares that would otherwise vest upon the payment of the aggregate amount of Payments pursuant to all final,
non-cancellable purchase orders (if any) then placed by Amazon.com, Inc. or any of its affiliates under the Commercial Agreement or any other agreement equals or exceeds [***], but is less than
[***], then 50% of the then-unvested Warrant Shares will become fully vested and immediately exercisable;
  

(iii)  if the sum of (A) the number of then-vested Warrant Shares and (B) the number of
then-unvested Warrant Shares that would otherwise vest upon the payment of the aggregate amount of Payments pursuant to all final, non-cancellable purchase orders (if any) then placed by Amazon.com, Inc. or
any of its affiliates under the Commercial Agreement or any other agreement equals or exceeds [***], but is less than [***], then 75% of the then-unvested Warrant Shares will become fully vested and immediately
exercisable; and
  
 (iv) if the sum of
(A) the number of then-vested Warrant Shares and (B) the number of then-unvested Warrant Shares that would otherwise vest upon the payment of the aggregate amount of Payments pursuant to all final,
non-cancellable purchase orders (if any) then placed by Amazon.com, Inc. or any of its affiliates under the Commercial Agreement or any other agreement equals or exceeds [***], then 100% of all
then-unvested Warrant Shares will become fully vested and immediately exercisable.

			
	11	  	Commercial Agreement related to Warrant (the “Commercial Agreement”):	    	Master Purchase Agreement effective as of June 30, 2020, by and between Amazon Logistics, Inc. and the Company (as amended, modified, or supplemented from time to time in accordance with the terms thereof, and together
with all work orders, purchase orders, and other ancillary agreements thereunder).

  
 -A-3- 

					
	12	  	Right of First Notice:	    	In the event the Company or the equityholders of the Company propose to initiate a process to explore a Change of Control, or to accept any offer from any person for, or enter into negotiations with any person with respect to, a
Change of Control (each such proposed Change of Control, and negotiations with respect thereto, a “Proposed Sale”), the Company will provide to the Holder written notice thereof (a “Sale Notice”) at
least [***] calendar days prior to entering into any definitive agreement or binding letter of intent with respect to such Proposed Sale, stating in reasonable detail the terms and conditions of such Proposed Sale, and the Holder will
have the right to enter into non-exclusive, good faith negotiations with the Company and the equityholders of the Company in respect of the Proposed Sale or another similar Change of Control transaction, and
the Company and the equityholders of the Company will not be permitted to enter into any definitive agreement or binding letter of intent with respect to such Proposed Sale before the expiration of such period, it being understood, however, that
following the expiration of such period the Company and the equityholders will be entitled to enter into a definitive agreement or a binding letter of intent on any terms.

  
 -A-4- 

 Exhibit B 

NOTICE OF EXERCISE 
  

	
	 To:  Lion Buses Inc. (the “Company”)

	
Address:                     
                                         
                                         
         

	
	 The undersigned hereby irrevocably elects to exercise the attached Warrant as follows:

	
	 ☐   purchase
                         Warrant Shares pursuant to the terms of the attached Warrant, for an aggregate purchase price of
$                                 .

 
 ☐   net issuance exercise
with respect to                          Warrant Shares pursuant to the terms of the attached Warrant, for such number of
shares of equity of the Company as is determined pursuant to Section 1.4 of the attached Warrant.

	
	 The undersigned requests that certificates for such shares be issued in the name of and delivered to the address of the
undersigned, at the address stated below and, if such shares are not all the shares that may be issued pursuant to the attached Warrant, that a new Warrant evidencing the right to purchase the balance of such shares be registered in the name of, and
delivered to, the undersigned at the address stated below.

  

	
	 Balance shares for new Warrant to be
issued:                                        
                                         
                                

	
	
Dated:                  
                                         
                                         
                                         
                                  

	
	 Name of Holder of
Warrant:                                       
                                         
                                         
                   

	 (please
print)        

	
	
Address:                 
                                         
                                         
                                         
                                

	
	
Signature:                 
                                         
                                         
                                         
                              

 Exhibit C 

COMPANY CAPITALIZATION AS OF ISSUE DATE 

[***] 

 Exhibit D 

ASSIGNMENT 
 For value
received the undersigned sells, assigns, and transfers to the Permitted Transferee named below the attached Warrant, together with all right, title, and interest, and does irrevocably constitute and appoint the Secretary of the Company as the
undersigned’s attorney, to transfer said Warrant on the books of the Company, with full power of substitution in the premises. 
  

	
	 Name of
Company:                                       
                                         
                                         
                                         
 

	
	
Dated:                  
                                         
                                         
                                         
                                         
  

	
	 Name of Holder of
Warrant:                                       
                                         
                                         
                            

	 (please
print)        

	
	
Address:                 
                                         
                                         
                                         
                                         

	
	
Signature:                 
                                         
                                         
                                         
                                       

	
	 Name of
transferee:                                       
                                         
                                         
                                         
  

	 (please
print)        

	
	 Address of
transferee:EX-10.10

 Exhibit 10.10 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS
EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED. 
  

 
 PURCHASE AGREEMENT 

between 
 LION BUSES INC.

 The “Buyer” 

and 
 ROMEO SYSTEMS, INC.

 The “Seller” 

dated as of 
 November 2,
2020 

 TABLE OF CONTENTS 

 

					
	 ARTICLE 1 – Definitions
	  	 	4	 
		
	 ARTICLE 2 – Scope of Work
	  	 	7	 
		
	 ARTICLE 3 – Agreement to Purchase and sell goods
	  	 	8	 
		
	 ARTICLE 4 – Order of Precedence
	  	 	8	 
		
	 ARTICLE 5 – Non-Binding Forecasts
	  	 	8	 
		
	 ARTICLE 6 – Order Procedure
	  	 	9	 
		
	 ARTICLE 7 – Shipment and delivery
	  	 	10	 
		
	 ARTICLE 8 – Title and Risk of Loss
	  	 	11	 
		
	 ARTICLE 9 – Price and Payment
	  	 	11	 
		
	 ARTICLE 10 – Intellectual Property Rights
	  	 	13	 
		
	 ARTICLE 11 – Term, Termination
	  	 	13	 
		
	 ARTICLE 12 – Certain Obligations of Seller
	  	 	15	 
		
	 ARTICLE 13 – Representations and Warranties
	  	 	16	 
		
	 ARTICLE 14 – Product Warranties
	  	 	18	 
		
	 ARTICLE 15 – Indemnification
	  	 	19	 
		
	 ARTICLE 16 – Limitation of Liability
	  	 	20	 
		
	 ARTICLE 17 – Insurance Obligations
	  	 	21	 
		
	 ARTICLE 18 – Miscellaneous
	  	 	21	 
		
	 SCHEDULE 1 – Product Specifications
	  			
		
	 SCHEDULE 2 – Lion Electric Forecasts
	  			
		
	 SCHEDULE 3 – Item Pricing
	  			
		
	 SCHEDULE 4 – Lion Electric Standard Purchase Order Terms and Conditions
	  			
		
	 SCHEDULE 5 – Lion Electric Quality Manual
	  			

  
 2 

			
	SCHEDULE 6 – Seller Limited Warranty terms	  	
		
	SCHEDULE 7 – Product warranties	  	

  
 3 

 PURCHASE AGREEMENT 

This Purchase Agreement, dated as of November 2, 2020 (this “Agreement”), is entered into between LION BUSES INC. (DBA LION ELECTRIC), a
corporation existing under the laws of the Province of Québec (Canada) having its main place of business at 921 Chemin de la Rivière du Nord, Saint-Jérôme (Québec), J7Y 5G2 (“Buyer”) and ROMEO SYSTEMS,
INC. a corporation existing under the laws of Delaware having its main place of business at 4380 Ayers Avenue Vernon, CA, 90058 (“Seller”, and together with Buyer, the “Parties”, and each, a “Party”). 

WHEREAS Buyer is an innovative OEM manufacturer of electric, zero-emission vehicles across multiple vehicle
class, including school buses, midi/minibuses and heavy-duty trucks; 
 WHEREAS Seller is in the business of selling batteries and battery packs for
commercial vehicles; 
 WHEREAS Buyer desires to purchase from Seller, and Seller desires to sell to Buyer the Goods as defined herein; 

NOW, THEREFORE the Parties agree as follows: 

ARTICLE 1 
 Definitions

 Capitalized terms have the meanings set forth or referred to in this ARTICLE 1 

“Action” means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation,
citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory, investigative or otherwise, whether at law, in equity or otherwise. 

“Affiliate” of a Person means any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by,
or is under common or indirect Control with, such Person. 
 “Agreement” means this Agreement and all Individual Transactions and all
schedules, exhibits, attachments or appendices specifically referenced herein and therein. 
 “Business Day” means any day other than
Saturday and Sunday or any Statutory holiday generally observed in either Canada or the US. 
 “Buyer Contracts” means all contracts or
agreements to which Buyer is a party or to which any of its material assets are bound. 
 “Claim” means any Action brought against a Person
entitled to indemnification under ARTICLE 15. 
 “Confidential Information” has the meaning set forth in the non disclosure agreement
referenced in ARTICLE 10. 
 “Confirmation” has the meaning set forth in Section 6.2. 

“Control” (and with correlative meanings, the terms “Controlled by” and “under common Control with”) means, with respect
to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of another Person, whether through the ownership of voting securities, by contract, or otherwise. 

  
 4 

 “Defective” means not conforming to the warranties in Section 14.1. 

“Defective Goods” means goods shipped by Seller to Buyer under this Agreement that are Defective. 

“Delivery Date” means the delivery date for Goods ordered hereunder that is set forth in a Purchase Order which must be a Business Day no
fewer than [***] days following delivery of the applicable Purchase Order to Seller. 
 “Delivery Location” means the street address
specified in the applicable Purchase Order. 
 “Dispute” has the meaning set forth in Section 18.16. 

“Dispute Notice” has the meaning set forth in Section 18.16.. 

“Effective Date” means the date of the last signature, which shall be the date at which this Agreement becomes effective. 

“Encumbrance” means any charge, claim, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage,
hypothec, easement, encroachment, right of way, right of first refusal, right of first offer or restriction of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership, but
excluding restrictions arising under applicable Law. 
 “Excess Goods” means Goods that, when counted together with all other Goods having
the same model number and received by Buyer under the same Purchase Order, are in excess of the quantities of the Goods ordered under that Purchase Order. 

“Force Majeure Event” has the meaning set forth in Section 18.2. 

“Forecast” means, regarding any twelve (12) month period, a good faith projection or estimate of Buyer’s requirements for Goods
during each calendar month during the period, which approximates, as nearly as possible, based on information available at the time to Buyer, the quantity of Goods that Buyer may order for each such month, as defined in ARTICLE 5. 

“Goods” means the goods set forth in Schedule 1. 

“Governmental Authority” means any federal, provincial, territorial, local or foreign government or political subdivision thereof, or any
agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi- governmental authority (to the extent that the
rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction. 

“Governmental Order” means any order, writ, judgment, injunction, decree, stipulation, award or determination entered by or with any
Governmental Authority. 

  
 5 

 “HST” means harmonized sales tax, or goods and services tax, imposed under the HST Act (or
any provincial or territorial legislation imposing sales tax, harmonized sales tax or goods and services tax. 
 “HST Act” means Part IX of
the Excise Tax Act (Canada). 
 “Indemnified Party” has the meaning set forth in Section 15.1. 

“Indemnifying Party” has the meaning set forth in Section 15.1. 

“Individual Transaction” means an individual transaction under this Agreement that is governed by the terms and conditions of a Purchase
Order that has been accepted by Seller under ARTICLE 6 and that incorporates by reference the terms and conditions of this Agreement. 
 “Initial
Term” has the meaning set forth in Section 11.1 
 “Intellectual Property Rights” is defined in the NDA in Schedule 3 signed
between the Parties on September 19th, 2019; 
 “Law” means any statute, law,
ordinance, regulation, rule, code, constitution, treaty, common law, Governmental Order or other requirement or rule of law of any Governmental Authority. 

“Losses” has the meaning set forth in Section 15.1. 

“Non-Conforming Goods” means any goods received by Buyer from Seller that: (i) do not conform to
the model number listed in the applicable Purchase Order; or (ii) do not conform to the Specifications;. Where the context requires, Non-conforming Goods are deemed to be Goods for the purposes of this
Agreement. 
 “Notice” has the meaning set forth in Section 18.04. 

“Person” means any individual, partnership, corporation, trust, unlimited liability company, unincorporated organization, association,
Governmental Authority or any other entity. 
 “Personnel” means agents, employees or subcontractors engaged or appointed by Seller or
Buyer. 
 “Price” has the meaning set forth in Section 9.1. 

“Purchase Order” means Buyer’s purchase order issued to Seller hereunder, including all terms and conditions attached to, or
incorporated into, such purchase order. 
 “Purchase Order Terms” means the terms specified by Buyer in a Purchase Order set forth in
Schedule 2. 
 “Renewal Term” has the meaning set forth in Section 11.2 

“Representatives” means a Party’s Affiliates, and each of their respective Personnel, officers, directors, partners, shareholders,
agents, lawyers, third-party advisors, successors and permitted assigns. 
 “Seller Contracts” means all contracts or agreements to which
Seller is a party or to which any of its material assets are bound. 

  
 6 

 “Specifications” means the specifications for the Goods attached hereto as Schedule 2. 

“Taxes” means any commodity tax, including sales, use, excise, value-added, HST, consumption or other similar tax, including penalties or
interest, imposed, levied or assessed by any Governmental Authority. 
 “Term” has the meaning set forth in Section 11.1 and
Section 11.2. 
 “Trademarks” means all rights in and to Canadian and foreign trademarks, trade dress, trade names, brand names,
logos, corporate names and domain names, and other similar designations of source, sponsorship, association or origin, together with the goodwill symbolized by any of the foregoing, in each case whether registered or unregistered and including all
registrations and applications for, and renewals and extensions of, such rights and all similar or equivalent rights or forms of protection in any part of the world. 

“Trade Secrets” means all inventions, discoveries, trade secrets, business and technical information and
know-how, databases, data collections, patent disclosures and other confidential and proprietary information and all rights therein. 

ARTICLE 2 
 Scope of Work

 Section 2.1    Scope of purchase. Buyer confirms selection of Seller as a supplier of batteries and battery packs for
Buyer’s vehicle platforms as defined in this Agreement and in accordance with the terms contained herein; and conditional on Buyer having completed a detailed technical and manufacturability assessment to Buyer’s satisfaction 

Section 2.2    Expectations. Seller confirms having human and material resources, capacity and capability to fulfil its
obligations and responsabilities under this Agreement. The Seller also acknowledges being able to support plans for Buyer’s growth that Buyer has provided to Seller before the date hereof . This acknowledgment includes engineering and technical
support as required by Buyer related to development projects, production optimization and cost reduction projects. Seller is considered to be an integral part of Buyer’s success. 

Seller agrees that Buyer will perform a detailed technical and manufacturability assessment and audit within forty five (45) days of execution of this
Agreement. 

  
 7 

 ARTICLE 3 

Agreement to Purchase and Sell Goods 

Section 3.1    Purchase and Sale. Subject to the terms and conditions of this Agreement, during the Term, Buyer shall purchase
Goods from Seller, and Seller shall sell Goods to Buyer, at the Prices established herein. 
 Section 3.2    Minimum
Quantities. Notwithstanding any Forecasts, Buyer shall purchase a minimum quantity of the Goods to support [***] MWh during the Initial Terrm of this Agreement This minimum quantity shall apply to any combination of Buyer vehicle types. 

Section 3.3    Commercial Best Efforts for Vehicle Orders 

Seller will use best Commercial Efforts to translate Vehicle Orders from Fleet Manager Partners to Buyer’s specific Vehicle Offerings (Lion6, Lion8, etc.)
Best Commercial efforts include but are not limited to Fleet Manager Partners’ Pilot Program Inclusion and Production Program Inclusion. The intent is for Seller to utilize best Commercial Efforts to enable at least [***] of Fleet Manager
Vehicle Orders to Buyer over the Term of this Agreement. Buyer’s intent is to utilize Battery Recycling Services from Seller’s partners for orders resulting from Best Commercial Efforts. 

ARTICLE 4 
 Order of
Precedence 
 Section 4.1    The express terms and conditions contained in this Agreement and the Purchase Order Terms
exclusively govern and control each of the Parties’ respective rights and obligations regarding the purchase and sale of the Goods, and the Parties’ agreement is expressly limited to such terms and conditions. Notwithstanding the
foregoing, if any terms and conditions contained in a Purchase Order conflict with any terms and conditions contained in this Agreement, the order of precedence is: (a) this Agreement, (b) the Schedules attached hereto & (c) the
Purchase Order Terms. Except for such contrary terms, each Individual Transaction consists of the terms and conditions of each Purchase Order, which incorporates by reference the terms and conditions of this Agreement for all applicable purposes
hereunder. 
 Section 4.2    Without limitation of anything contained in this ARTICLE 4, any additional, contrary or
different terms contained in any of Seller’s Confirmations, invoices or other communications, or in any Purchase Order (other than Purchase Order Terms that are in all respects consistent with this Agreement), and any other attempt to modify,
supersede, supplement or otherwise alter this Agreement, are deemed rejected by Buyer or Seller (as the case may be) and will not modify this Agreement or be binding on the Parties unless such terms have been fully approved in a signed written
amendment to this Agreement by authorized Representatives of both Parties. 
 ARTICLE 5 

Non-Binding Forecasts 

Section 5.1    Provision of Forecasts. Buyer shall, provide Seller with Forecastson a quarterly basis. 

Section 5.2    Forecasts Are Non-binding. The Forecasts are for information purposes
only. Any product quantities cited in or pursuant to this Agreement, except for quantities cited in a Purchase Order as firm, are preliminary and non-binding only. Buyer makes no representation or warranty as
to the quantity of products that it will purchase as communicated in the forecast, either for dates or quantities 

  
 8 

 ARTICLE 6 

Order Procedure 

Section 6.1    Purchase Orders. Buyer shall issue Purchase Orders to Seller in written form via email. 

Section 6.2    Acceptance and Rejection of Purchase Orders. Seller shall confirm to Buyer the receipt of each Purchase
Order issued hereunder (each, a “Confirmation”) within five (5) Business Days following Seller’s receipt thereof by Notice via e-mail. Each Confirmation must reference Buyer’s
Purchase Order number, confirm acceptance of the Purchase Order or, solely if permitted under this section 6.2, advise Buyer of Seller’s rejection of such Purchase Order, the date of acceptance or rejection and the basis for rejection, if
applicable. If Seller fails to issue a Confirmation within the time set forth in the first sentence of this section 6.2„ Seller will be deemed to have accepted the Purchase Order. Buyer may withdraw any Purchase Order prior to Seller’s
acceptance (or deemed acceptance) thereof. Seller may only reject a Purchase Order if Seller has sent Buyer a Notice of termination under Section 6.4 or Section 11.4. 

Section 6.3    Buyer’s Right to Terminate Individual Transactions. If buyer terminates any Individual Transaction
with or without cause, Buyer must pay Seller for all work in progress, including time and materials, associated with such Individual Transaction. 

Section 6.4    Seller’s Right to Terminate Individual Transactions. Seller may, on Notice to Buyer, terminate an
Individual Transaction after Buyer receives Notice under Section 11.4. 
 Section 6.5    Effect of Termination of
Individual Transactions. If any Individual Transaction is terminated under this Section 6.5 or ARTICLE 11, in accordance with Buyer’s written direction, Seller shall immediately: 

 

	 	a.	 cease work and purchasing materials relating to fulfilling the Individual Transaction, subject to the terms and
conditions of this Section 6.5; and 

  

	 	b.	 deliver to Buyer on request all or any portion of Goods under the relevant Individual Transaction at the
Prices. 

 Section 6.6    Change Management. Buyer can request a change of the Item at any moment.
Such Engineering or design change can have impacts on costs and production of Seller’s Item. The Buyer must submit a written request for change to the Seller. Within five (5) business days of the request, the Seller must submit to the
Buyer the impacts of the changes requested, including but not limited to Price and aditionnal delays of production. If such impact has a negative and material effect, then Buyer reserve its rights under Section 11.3. 

As the case may need, Buyer must confirm within seven (7) business days its decision in a new Purchase Order after the reception of the impacts from the
Seller accordingly to the procedure established in Section 6.7. 
 Seller proposed changes Any change impacting fit, form or function of the
Goods must be submitted to Buyer at least [***] weeks in advance and approved by Buyer before the change is incorporated. Supplier must complete the Product/Process Change notification form available in Schedule 5 (Lion Quality Manual). 

  
 9 

 Section 6.7    Buyer’s Right to Request Amendments to Purchase
Orders. Buyer may, on Notice to Seller, request changes to a Purchase Order within three [3] days of issuing such Purchase Order. On or before the fifth (5th) Business Day after receiving the
request, Seller shall submit to Buyer its good faith description of the impact of such changes on the Purchase Order Terms. Buyer may then submit an amended purchase order reflecting all Buyer-accepted changes. Seller is not obligated to accept any
requested changes for which Buyer does not consent to bear the costs related to the change request, if any. 
 ARTICLE 7 

Shipment and Delivery 

Section 7.1    Shipment and Delivery Requirements. Subject to Section 18, time, quantity and delivery to the
carrier at Seller’s facility, are of the essence under this Agreement. Seller shall assemble, pack, mark and ship Goods strictly in the quantities, by the methods, and by the Delivery Dates, specified in the Purchase Order. Delivery times will
be measured to the time that Goods are ready for collection by the designated carrier at Seller’s facility. If Seller does not comply with any of its delivery obligations under this Section 7.1, without limiting Buyer’s other rights
under this Agreement or applicable Law, Buyer may, in Buyer’s sole discretion and at Seller’s sole cost and expense: 
  

	 	a.	 approve a revised Delivery Date; or 

 

	 	b.	 require expedited or premium shipment, at Seller’s expense. 

Unless otherwise expressly agreed by the Parties in writing, Seller may not make partial shipments of Goods to Buyer. 

Section 7.2    Shipping fees. Incoterms are defined as EX-Works (Incoterms
2020) 
 Seller shall be responsible for packaging, loading of the Items on buyer designated carrier and for producing customs documents. 

Section 7.3    Packaging and Labelling. Seller shall properly pack, mark and ship Goods as mutually agreed by the
Parties and otherwise in accordance with applicable Law and industry standards and shall provide Buyer with shipment documentation showing the Purchase Order number, Seller’s identification number for the subject Goods, the quantity of pieces
in shipment, the number of cartons or containers in shipment, Seller’s name, the bill of lading number and the country of origin. Seller must also identify goods with the Lion part number showing on the Purchase Order. 

Section 7.4    Acceptance of Goods. If Goods delivered under this Agreement are
Non-Conforming Goods or Excess Goods, Buyer may, at its option, reject such Goods upon written notice provided to Seller within ten (10) days after the Goods are received at the Delivery location. 

If Buyer rejects any Non-Conforming Goods, Buye shall return such
Non-conforming Goods to Seller at Seller’s expense and in accordance with its directions, and Seller shall make commercially reasonable efforts to replace such
Non-conforming goods at Seller’s sole expense within [***] days of Buyer’s return thereof. If Seller replaces such Non-Conforming goods, Buyer may reject such
replacement Goods during the ten (10) day period specified below in this Section 7.4 if such Goods continue to be NonConforming Goods. In the event of such subsequent rejection, Buyer will return such
Non-Conforming 

  
 10 

 Goods to Seller at Seller’s expense and in accordance with its directions and for a refund of any
amounts paid therefor. 
  

	 	a.	 if such Goods are Excess Goods, Buyer may reject such Excess Goods upon written notice to Seller, in which
event, Buyer will return such Non Conforming Goods to Seller at Seller’s expense and in accordance with its directions for a refund., 

  

	 	b.	 in either case, Buyer may retain such Goods, in which event Buyer shall pay for them at the Price specified
herein.. 

 In each case, the exercise by Buyer of any other rights available to Buyer under this Agreement or under applicable Law shall
not be limited, except as otherwise provide herein. . Buyer shall ship from any location, at Seller’s expense and risk of loss, by any carrier and means selected by Seller, the NonConforming Goods or Excess Goods to the nearest authorized
Seller location. 
 ARTICLE 8 

Title and Risk of Loss 

Section 8.1    Title. Title to Goods shipped under any Individual Transaction passes to Buyer upon Buyer’s
acceptance of the Goods, which shall happen no later than ten (10) days after Goods are received at Buyer’s location. Title will transfer to Buyer even if Seller has not been paid for such Goods, provided that Buyer will not be relieved of
its obligation to pay for Goods in accordance with the terms hereof. 
 Section 8.2    Risk of Loss. Notwithstanding
any agreement between Buyer and Seller concerning transfer of title or responsibility for shipping costs, risk of loss to Goods shipped under any Individual Transaction passes to Buyer upon transfer of the Goods to the designated carrier at
Seller’s location, and Buyer will bear all risk of loss or damage regarding Goods, as soon as they are provided to the designated carrier. 

ARTICLE 9 
 Price and
Payment 
 Section 9.1    Price. Subject to Section 9.3, Seller shall provide Goods to Buyer for the prices
set forth in Schedule 3 attached hereto (the “Prices”). All Prices include, and Seller is solely responsible for, all costs and expenses relating to packing, crating, boxing, and any other similar financial contributions or
obligations relating to the production, manufacture and sale of the Goods, as per reflected in Schedule 3. Baseline recurring price of the Goods is defined in Schedule 3 and is subject to variations corresponding to
pre-established volume purchases thresholds. 
 Section 9.2    Price Adjustment
Mechanism. Prices defined in Schedule 3 are ceiling prices or maximum prices and they are in correlation with volume purchase of Items. Seller will work with Buyer in good faith to attain lower recurring prices than defined in Schedule 3,
including joint open book cost exercises, design to cost workshops or other initiatives. Furthermore, Buyer has established recurring price targets in Schedule 3. Seller will make its best, commercially reasonable efforts to reach the targets
identifed by Buyer during the Term of this Agreement. 

  
 11 

 Section 9.3    Periodic Review. Each year, for the duration of this
Agreement, in September and in April, the Buyer and Seller shall jointly review the Goods cost drivers to determine if there are any opportunities for price reduction compared to the baseline recurring price ceilings as defined in Schedule 3. More
specifically, the Goods component drivers to be reviewed are the following: Battery cells, Structure / Enclosure, electrical components, plastics, cold plate and printed circuit board assemblies (PCBAs). If bill of material reductions are achieved
during the review period, Seller will share the percentage of the cost reductions with Buyer and reduce the applicable Baseline recurring Price as defined in Schedule 3. 

Section 9.4    [***] 

Section 9.5    Invoices. Seller shall issue an invoice to Buyer for all Goods ordered. Each invoice for Goods must set
forth in reasonable detail the amounts payable by Buyer under this Agreement and contain the following information, as applicable: a reference to this Agreement; Purchase Order number, amendment number and line-item number; Seller’s name;
Seller’s identification number; carrier name; ship-to address; weight of shipment; quantity of Goods shipped; number of cartons or containers in shipment; bill of lading number; country of origin and any
other information necessary for identification and control of the Goods. 
 Section 9.6    Invoice Disputes. Buyer
shall Notify Seller of any dispute with any invoice within three (3) Business Days from Buyer’s receipt of such invoice. The Parties shall seek to resolve all such disputes expeditiously and in good faith in accordance with the dispute
resolution provisions set forth in Section 18.16. Notwithstanding anything to the contrary, Seller shall continue performing its obligations under this Agreement during any such dispute. 

Section 9.7    Payment Terms. Seller may submit an invoice to Buyer for any Goods orderd hereunder when such Goods are
ready for collection by the designated carrier at Seller’s facility, Except for any amounts disputed by Buyer in good faith, Buyer shall pay all invoiced amounts due to Seller within [***] days following Buyer’s receipt of Seller’s
invoice. Payment of invoices will not be deemed acceptance of the Goods or waive Buyer’s right to inspect, but rather such Goods will be subject to acceptance under Section 7.4. 

Buyer shall make all payments in USD dollars by wire transfer or automated clearing house transaction. 

Section 9.8    Take or Pay. Buyer shall pay for no less than [***] kWh of Goods during the Initial Term (the
“Payment Commitment”). Accordingly, if, upon expiration of the Initial Term, the Payment Commitment exceeds the aggregate number of kWh of 

  
 12 

 
Goods for which Buyer shall have paid hereunder (such excess, the “Shortfall Amount”), Buyer shall pay Seller the per kWh Price then in effect multiplied by the Shortfall Amount.
In such a case, the payment schedule of the Shortfall Amount will be agreed to by the Parties. 

Section 9.9    Taxes. 
  

	 	a.	 The Prices are exclusive of all applicable Taxes (including HST and provincial sales tax).

  

	 	b.	 Seller will timely remit all applicable sales, use, value-added, services, consumption and HST charged to the
appropriate Governmental Authorities which it is required to collect from Buyer in respect of any Tax referred to in Section 9.9 a. 

  

	 	c.	 Seller represents, warrants and covenants to the Buyer that: (i) Seller will charge, collect and timely
remit all Taxes that it is required to collect and remit under applicable Law; (ii) Seller is registered for HST purposes and for provincial sales tax purposes and will be continued to be registered for HST and provincial sales tax purposes;
and (iii) if any other provincial sales tax is applicable to the Goods, Seller is and will continue to be registered as a vendor for the purposes of such provincial sales tax. 

ARTICLE 10 
 Intellectual
Property Rights 
 Section 10.1    NDA. Intellectual Property Rights relating to the Goods are ruled as per the
terms and conditions of the NDA executed by the Parties on September 19th, 2019. 

ARTICLE 11 
 Term;
Termination 
 Section 11.1    Term. The term of this Agreement commences on the Effective Date and, unless
terminated as set forth herein, shall remain in effect for a period of five (5) years after the start of serial production of the goods and following level 4 PPAP approval of Seller production tooling by Buyer. The effective period of this
Agreement is referred to as the “initial Term/ “Term” 
 Section 11.2    Renewal Term. Upon a six
(6) months’ notice before the expiration of the Initial Term, this Agreement can be renewed for an additional successive two (2) years terms unless and until either Party provides Notice of
non-renewal at least six months (6) months before the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable Law (each a “Renewal
Term” and together with the Initial Term, the “Term”). If the Term is renewed for any Renewal Term(s) under this Section, the terms and conditions of this Agreement during each such Renewal Term are the same as the terms in
effect immediately before such renewal, subject to any change in Prices payable for the Goods and payment terms during the applicable Renewal Term as set forth in this Section. If either Party provides timely Notice of its intent not to renew this
Agreement, then, subject to Section 11.1, unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 

  
 13 

 Section 11.3    Buyer’s Right to Terminate the Agreement. Buyer may
terminate this Agreement (including all related Individual Transactions in accordance with Section 6.3), on a 60 days’ Notice to Seller: 
  

	a.	 if Seller is in material breach of, any representation, condition, warranty or covenant of Seller under this
Agreement and such breach is not cured by Seller within thirty (30) days following Seller’s receipt of Notice of such breach; unless such breach cannot through the use of reasonable efforts be cured within thirty (30) days then, if
Seller fails to commence such cure within thirty (30) day period and to diligently pursue such cure thereafter; 

  

	 	b.	 If Buyer has reasonable grounds for insecurity regarding Seller’s ability to perform its obligations under
this Agreement and Seller fails to provide Buyer, within a commercial reasonable time after Buyer’s request but in no case exceeding thirty (30) days after such request with adequate and reasonable assurance of Seller’s financial and
operational capability to timely perform Seller’s obligations under this Agreement; or 

  

	c.	 in the event of a Force Majeure Event affecting the Seller’s performance of this Agreement for more than
thirty (30) consecutive days; 

 Section 11.4    Seller’s Right to Terminate for Cause. Seller may
terminate this Agreement (including all related Individual Transactions in accordance with Section 6.4) on sixty (60) days’ Notice to Buyer: 

If: 
  

	 	a.	 Buyer is in material breach of any representation, condition, warranty or covenant of Buyer under this
Agreement and it is not cured by Buyer within thirty (30) days following Buyer’s receipt of notice of such breach, unless such breach cannot through the use of reasonable efforts be cured within thirty (30) days then, if Buyer fails
to commence such cure within such thirty (30) day period and to diligently pursue such cure thereafter. 

  

	 	b.	 if Seller has reasonable grounds for insecurity regarding Buyer’s ability to perform its obligagtions
under this Agreement and Buyer fails to provide Seller, within a commercial reasonable time after Seller’s request but in no case exceeding thirty (30) days after such request with adequate and reasonable assurance of Buyer’s
financial and operational capability to timely perform Buyer’s obligations under this Agreement; or 

  

	 	c.	 in the event of a Force Majeure Event affecting Buyer’s performance of this Agreement for more than thirty
(30) consecutive days. 

 Section 11.5    Effect of Expiration or termination. 

 

	 	a.	 Unless Buyer directs otherwise, any termination under Section 11.3 or Section 11.4 automatically
terminates all related Individual Transactions under ARTICLE 6. 

  
 14 

	 	b.	 Upon the expiration or earlier termination of this Agreement, each Party shall promptly: 

 

	 	i.	 return to the other Party all documents and tangible materials (and any copies) containing, reflecting,
incorporating or based on the other Party’s Confidential Information; 

  

	 	ii.	 permanently erase all of the other Party’s Confidential Information from its computer systems, except for
copies that are maintained as archive copies on its disaster recovery and/or information technology backup systems or as otherwise required to be retained by Law. Such other Party shall destroy any such copies upon the normal expiration of its
backup files; and 

  

	 	iii.	 certify in writing to the other Party that it has complied with the requirements of this Section 11.5 b.

  

	 	c.	 The Party terminating this Agreement, or in the case of the expiration of this Agreement, each Party, shall not
be liable to the other Party for any damage of any kind (whether direct or indirect) incurred by the other Party by reason of the expiration or earlier termination of this Agreement. Termination of this Agreement will not constitute a waiver of any
of either Party’s rights, remedies or defenses under this Agreement, at law, in equity or otherwise. 

 ARTICLE 12

 Certain Obligations of Seller 

Section 12.1    General Compliance with Laws Covenant. Seller shall at all times materially comply with all Laws applicable to
this Agreement and its obligations under this Agreement, including Seller’s sale of the Goods. Without limiting the generality of the foregoing, Seller shall: 
  

	 	d.	 at its own expense, maintain all certifications, credentials, licenses and permits necessary to conduct its
business relating to the sale of the Goods; and 

  

	 	e.	 not engage in any activity or transaction involving the Goods, by way of shipment, use or otherwise, that
violates any Law. 

 Section 12.2    Covenant to Provide Import- and Export-related Information. Without
prejudice to Buyer’s rights and remedies, on Buyer’s request Seller shall promptly provide all information necessary to export and import Goods under this Agreement and shall Notify Buyer of any changes to the information provided by
Seller to export and import Goods under this Agreement. 
 Section 12.3    Materials Disclosure. On Buyer’s request,
Seller shall promptly provide to Buyer, in such form and detail as Buyer requests, a list of all materials incorporated in the Goods, the amount of such materials, and information concerning any changes in or additions to such materials. For each
shipment of Goods, Seller shall provide Buyer, in writing, sufficient advance warning and notice (in addition to including appropriate labels on Goods, containers and packing) of any hazardous or restricted material that is an ingredient or a part
of the shipment, together with such special handling instructions as may be necessary to advise logistics providers, handlers of the Goods and personnel of how to exercise that measure of care and precaution that will comply with any applicable Laws
and prevent bodily injury or property damage in the handling, transportation, processing, use or disposal of the Goods, containers and packing. 

  
 15 

 Section 12.4    Country of Provenance. Seller shall label the country of
provenance of the Goods. 
 Section 12.5    Protection Against Supply Interruptions. Seller shall, at Seller’s sole
cost and expense, take such actions as are necessary or appropriate to ensure the uninterrupted supply of Goods to Buyer during any foreseeable or anticipated event or circumstance that could interrupt or delay Seller’s performance under this
Agreement, including any labor disruption, whether or not resulting from the expiration of Seller’s collective agreements or other labor agreement (and whether or not such occurrence constitutes a Force Majeure Event hereunder). Seller shall
Notify Buyer at least ten (10) days before the termination or expiration of any collective bargaining or other labor agreement that relates to Seller’s Personnel involved in the delivery of the Goods. 

Section 12.6    Duty to Advise. Seller shall promptly provide Notice to Buyer of any of the following events or occurrences,
upon discovery by Seller: 
  

	 	a.	 any material failure by Seller to perform any of its obligations under this Agreement; any delay in delivery of
Goods; 

  

	 	b.	 any delay in delivery of Goods 

 

	 	c.	 any material defects relating to Goods; 

 

	 	d.	 any change in Control of Seller; 

 

	 	e.	 any deficiency in Buyer Specifications, samples, prototypes or test results relating to this Agreement; or

  

	 	f.	 any failure by Seller, or its subcontractors or to comply with Law in connection with their performance of this
Agreement. 

 Section 12.7    Right to audit. Seller agrees that Buyer has the right to perform or to have
performed independent third party audits in order to make a detailed assessment and evaluation of Supplier’s capability and capacity to support the scope of this Agreement in its entirety, including product safety assessment 

ARTICLE 13 

Representations and Warranties 

Section 13.1    Seller’s Representations and Warranties. Seller represents and warrants to Buyer that: 

 

	 	a.	 it is a corporation duly organized and validly existing in the jurisdiction of its incorporation;

  

	 	b.	 it is duly registered or licensed to carry on business in every jurisdiction in which such registration or
license is required,, except where the failure to be so registered or licensed, in the aggregate, would not reasonably be expected to adversely affect Its ability to perform Its obligations under this Agreement 

  
 16 

	 	c.	 it has all necessary power and capacity to enter into this Agreement, to grant the rights and licenses granted
under this Agreement and to perform its obligations under this Agreement; 

  

	 	d.	 the execution of this Agreement by its Representative whose signature is set forth at the end hereof has been
duly authorized by all necessary corporate action of Seller; 

  

	 	e.	 the execution, delivery and performance of this Agreement by Seller will not violate, conflict with, require
consent under or result in any breach or default under: 

  

	 	i.	 any of Seller’s organizational documents (including its articles of incorporation and by-laws); 

  

	 	ii.	 any applicable Law; or 

 

	 	iii.	 with or without notice or lapse of time or both, the provisions of any Seller Contract; and

  

	 	f.	 when executed and delivered by each of Buyer and Seller, this Agreement will constitute the legal, valid and
binding obligation of Seller, enforceable against Seller in accordance with its terms; and 

  

	 	g.	 it is in compliance with all Laws and Seller Contracts applicable to this Agreement, the Goods and the
operation of its business. 

 Section 13.2    Buyer’s Representations and Warranties. Buyer represents and
warrants to Seller that: 
  

	 	a.	 it is a corporation duly organized and validly existing in the jurisdiction of its incorporation;

  

	 	b.	 it is duly registered or licensed to carry on business in every jurisdiction in which such registration or
license is required for purposes of this Agreement, except where the failure to be so registered or licensed, in the aggregate, would not reasonably be expected to adversely affect its ability to perform its obligations under this Agreement;

  

	 	c.	 it has all necessary power and capacity to enter into this Agreement, to grant the rights and licenses granted
under this Agreement and to perform its obligations under this Agreement; 

  

	 	d.	 the execution of this Agreement by its Representative whose signature is set forth at the end hereof has been
duly authorized by all necessary corporate action of the Party; 

  

	 	e.	 the execution, delivery and performance of this Agreement by Buyer will not violate, conflict with, require
consent under or result in any breach or default under: 

  

	 	i.	 any of Buyer’s organizational documents (including its articles of incorporation and bylaws);

  

	 	ii.	 any applicable Law; or 

  
 17 

	 	f.	 with or without notice or lapse of time or both, the provisions of any material Buyer Contract; when executed
and delivered by each of Seller and Buyer, this Agreement will constitute the legal, valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms, and 

 

	 	g.	 it is in compliance with all Laws and Buyer Contracts applicable to this Agreement and the operation of its
business 

 ARTICLE 14 

Product Warranties 
 Section
14.1    Product Warranties. Seller warrants to Buyer that: 
  

	 	a.	 Goods are fit and safe for use consistent with the Specifications and documentation and will be free from
defects in design. 

  

	 	b.	 Seller shall provide Buyer with the warranty with respect to the goods set forth in Schedule 7, subject to all
of the terms, conditions and restrictions set forth therein. The parties agree to work collaboratively on establishing market competitive warranty terms for the Goods and commit to reach an agreement within the next fifteen (15) days.

  

	 	c.	 Goods are compliant with the Lion Quality Manual, as per Schedule 5; 

 

	 	d.	 no action or Encumbrance exists or is threatened against Seller that would interfere with Buyer’s use or
sale of the Goods; 

  

	 	e.	 the Goods do not infringe any third-party Intellectual Property Rights; 

 

	 	f.	 Buyer will receive good and valid title to the Goods, free and clear of all Encumbrances; and

  

	 	g.	 the Goods are new and do not contain used or reconditioned parts, unless otherwise specified in Schedule 1.

  

	 	h.	 Seller cannot change critical component of the Goods configuration, more specifically, the cell manufacturer
without prior approval from the Buyer 

  

	 	i.	 Seller cannot make material changes to the chemistry of the Goods without prior approval from the Buyer

 Section 14.2    Remedies for Breach of Warranties. During the Warranty Period, if Goods do not comply with
the warranties in this Agreement, in addition to other remedies available at Law or in this Agreement, Seller shall take all actions outlined in its Limited Product Warranty: 
  

	a.	 repair or replace such Defective Goods; or 

 

	b.	 credit or refund the Price of such Defective Goods plus any inspection, test and transportation charges paid by
Buyer, less any applicable discounts, rebates or credits. 

  
 18 

 For such Goods, Buyer shall ship, at Seller’s expense and risk of loss, such allegedly Defective Goods
to the nearest authorized Seller location and Seller will, at Seller’s expense and risk of loss, return any repaired or replaced Good to a location designated by Buyer in a timely manner. 

If Seller fails to repair or replace Goods under Warranty in seventy-two (72) hours, Buyer may do so, and Seller
shall reimburse Buyer for actual and reasonable expenses. Buyer may return Defective Goods from any Buyer location to the nearest authorized Seller location at Seller’s cost. 

Seller must provide sufficient maintainability training as well as repair manuals/any relevant material in order for Buyer to perform safe, timely and
adequate repair and maintenance. Training must be performed within 6 months after execution of this agreement 

Section 14.3    Recalls. If Seller or any Governmental Authority having required authority determines that any Goods sold to
Buyer are Defective and pose an unacceptable risk to property or human safety (a “Risk Event”), Seller shall take necessary or appropriate measures, as reasonably determined by Seller or required by such Governmental Authority, to
address any Risk Event, including recall of Product that is identified as presenting an unacceptable risk to property or human safety. Furthermore, Seller may notify competent authorities, agencies, and other notified bodies
(“Agencies”) of Risk Events. Buyer shall cooperate with Seller and any Agency in any response to any Risk Event. Buyer shall promptly provide Seller notice and copies of any communications received by Buyer or any Affiliate thereof
from any Agency. Buyer must return Defective Goods to Seller or destroy such Goods, as determined by Seller, and Seller may elect in its discretion to repace any Defective Goods. 

The foregoing will apply even if the product warranties under Section 14.1 or any other product warranty applicable to the Goods have expired. Seller is
liable for all of Buyer’s costs associated with any recall campaign if such recall campaign is based on a reasonable determination that either: 
  

	 	a.	 the Goods fail to conform to either the warranties under this Agreement or applicable Law; or

  

	 	b.	 the basis for the recall arose from Seller’s negligence or willful misconduct. 

 

	 	c.	 Buyer is liable for all of Seller’s costs associated with any recall campaign if the basis for the recall
arose from a defect in any Buyer product or Buyer’s negligence or willful misconduct. 

 Where applicable, Seller shall pay all
reasonable costs and expenses associated with determining whether a recall campaign is necessary. 
 ARTICLE 15 

Indemnification 

Section 15.1    Indemnification. Subject to the terms and conditions of this Agreement, including those set forth in
Section 17.2 Seller or Buyer (as “Indemnifying Party”) shall defend Seller or Buyer (as “Indemnified Party”) and its Representatives/officers, directors, employees, agents, Affiliates, successors and permitted
assigns, at Indemnifying Party’s sole expense against any Claim of a third party alleging: 

  
 19 

	 	a.	 breach or non-fulfilment of any representation, condition, warranty or
covenant under this Agreement by Indemnifying Party or Indemnifying Party’s Personnel; 

  

	 	b.	 any negligent or more culpable act or omission of Indemnifying Party or its Personnel (including any
recklessness or willful misconduct) in connection with the performance of its obligations under this Agreement; 

  

	 	c.	 any bodily injury, death of any Person or damage to real or tangible personal property caused by the negligent
acts or omissions of Indemnifying Party or its Personnel. 

 Indemnifying Party pay any settlement of any such claim or any final judgment
awarded in such claim. Indemnifying Party’s obligations hereunder with respect to any Claim are contingent upon Indemnified Party providing Indemnifying Party prompt written notice thereof (which notice shall be deemed to be provided promptly
if any delay in no way materially prejudices Indemnifying Party), tenders sole control of the defense and settlement thereof to the Indemnifying Party, and reasonably cooperates with the Indemnifying Party in such defense. 

Section 15.2    Exceptions and Limitations on Indemnification. Notwithstanding anything to the contrary in this Agreement,
Indemnifying Party is not obligated to indemnify or defend Indemnified Party against any claim (whether direct or indirect) if such claim or any damages attributable thereto arise out of or result from, in whole or in part, Indemnified Party’s
or its Personnel’s: 
  

	 	a.	 gross negligence or more culpable act or omission (including recklessness or willful misconduct); or

  

	 	b.	 bad faith failure to materially comply with any of its obligations set forth in this ARTICLE.

 Section 15.3    Exclusive Remedy. ARTICLE 16 sets forth the entire liability and obligation of each
indemnifying Party and the sole and exclusive remedy for each Indemnified Party arising out of or in connection with any Claim. 
 ARTICLE
16 
 Limitation of Liability 

Section 16.1    No Liability for Consequential or Indirect Damages. EXCEPT FOR LIABILITY FOR INDEMNIFICATION, LIABILITY FOR
BREACH OF CONFIDENTIALITY, OR LIABILITY FOR INFRINGEMENT OR MISAPPROPRIATION OF INTELLECTUAL PROPERTY RIGHTS, NEITHER PARTY NOR ITS REPRESENTATIVES IS LIABLE FOR CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR AGGRAVATED
DAMAGES, ARISING OUT OF OR RELATING TO ANY BREACH OF THIS AGREEMENT, WHETHER OR NOT THE POSSIBILITY OF SUCH DAMAGES HAS BEEN DISCLOSED IN ADVANCE BY THE OTHER PARTY OR COULD HAVE BEEN REASONABLY FORESEEN, REGARDLESS OF THE LEGAL OR EQUITABLE THEORY
(CONTRACT, TORT OR OTHERWISE) UPON WHICH THE CLAIM IS BASED, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE. 

Section 16.2    Limit of Liability. EXCEPT FOR LIABILITY FOR INDEMNIFICATION, LIABILITY FOR BREACH OF CONFIDENTIALITY, OR
LIABILITY FOR INFRINGEMENT OR MISAPPROPRIATION OF INTELLECTUAL PROPERTY RIGHTS, IN NO EVENT WILL SELLER’S LIABILITY HEREUNDER OR 

  
 20 

 RELATING HERETO OR TO THE GOODS, WHETHER ARISING IN CONTRACT, TORT OR ANY OTHER THEORY OF LIABILITY, EXCEED
THE AMOUNTS ACTUALLY RECEIVED BY SELLER DURING THE ONE (1) YEAR PERIOD BEFORE SUCH LIABILITY FIRST ACCRUES. 
 ARTICLE 17 

Insurance Obligations 

Section 17.1    Insurance. Without limiting Seller’s indemnification obligations under this Agreement, Seller shall, at
its own expense, maintain and carry in full force and effect at least the following types and amounts of insurance coverage, subject to the requirements set forth in Section 17.2: 

 

	 	a.	 Commercial general liability with limits no less than $5 million for each occurrence and $5 million
in the aggregate, including bodily injury and property damage and products and completed operations and advertising liability, which policy will include contractual liability coverage insuring the activities of Seller under this Agreement;

  

	 	b.	 Workplace safety and insurance compensation with the minimum amount required by applicable Law;

 Section 17.2    Insurance Contract Requirements. Seller shall ensure that all insurance policies
required pursuant to Section 17.1: 
  

	 	a.	 are issued by insurance companies with a Best’s Rating of no less than
A-; 

  

	 	b.	 provide that such insurance carriers give Buyer at least 30 days’ prior Notice of cancellation or non-renewal of policy coverage, provided that, prior to such cancellation, Seller has new insurance policies in place that meet the requirements of this ARTICLE 17; 

 

	 	c.	 provide that such insurance be primary insurance and any similar insurance in the name of or for the benefit of
Seller, or both, shall be excess and non-contributory; 

  

	 	d.	 name Buyer as an additional insured; and 

 

	 	e.	 waive any right of subrogation of the insurers against Buyer or any of its Affiliates. 

Section 17.3    Insurance Certificates. On Buyer’s written request, Seller shall provide Buyer with copies of the
certificates of insurance and policy endorsements for all insurance coverage required by this ARTICLE 17, and shall not do anything to invalidate such insurance. This Section 17.3 shall not be construed in any manner as waiving, restricting or
limiting the liability of either Party for any obligations imposed under this Agreement (including but not limited to, any provisions requiring a party hereto to indemnify, defend and hold the other harmless under this Agreement). 

  
 21 

 ARTICLE 18 

Miscellaneous 

Section 18.01    Further Assurances. Upon a Party’s reasonable request, the other Party shall, at its sole cost and
expense, execute and deliver all such further documents and instruments, and take all such further acts, necessary to give full effect to this Agreement. 

Section 18.02    Entire Agreement. Subject to ARTICLE 2, this Agreement, including and together with any related exhibits,
schedules, attachments and appendices, together with the Individual Transactions, constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein and therein, and supersedes all prior and contemporaneous
understandings, agreements, representations and warranties, both written and oral, regarding such subject matter. 

Section 18.03    Survival. Subject to the limitations and other provisions of this AgreementArticles 4, 8, 10, 15, 16 and 18
and Sections 9.6, 9.7, 9.8, 9.9, 11.5 and 14.2 shall survive the expiration or earlier termination of this Agreement and remain effective and enforceable thereafter 

Section 18.04    Notices. All notices, requests, consents, claims, demands, waivers and other communications under this
Agreement (each, a “Notice”, and with the correlative meaning “Notify”) must be in writing and addressed to the other Party at its address set forth below (or to such other address that the receiving Party may
designate from time to time in accordance with this. Notices sent in accordance with this Section will be deemed effectively given: (a) when received, if delivered by hand, with signed confirmation of receipt; (b) when received, if sent by
a nationally recognized overnight courier, signature required; (c) on the day after the date mailed by certified or registered mail return receipt requested, postage prepaid. 

 

			
	Notice to Buyer:	  	 921 ch. De la Rivière du Nord, Saint-Jérôme, Québec, J7Y 5G2,
Canada
 Email: [***]
 Attention: [***]

		
	Notice to Seller:	  	 4380 Ayers Avenue Vernon, CA, 90058, USA

Email: [***]
 Attention: [***]

 Section 18.05    Interpretation. For purposes of this Agreement, (a) the words
“include,” “includes” and “including” are deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; (c) the words “herein,” “hereof,”
“hereby,” “hereto” and “hereunder” refer to this Agreement as a whole; (d) words denoting the singular have a comparable meaning when used in the plural, and viceversa; and (e) words denoting any gender
include all genders. Unless the context otherwise requires, references in this Agreement: (x) to sections, exhibits, schedules, attachments and appendices mean the sections of, and exhibits, schedules, attachments and appendices attached to,
this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof; and (z) to a
statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. The Parties drafted this Agreement without regard to any presumption or rule requiring construction or
interpretation against the Party drafting an instrument or causing any instrument to be drafted. The exhibits, schedules, attachments and appendices referred to herein are an integral part of this Agreement to the same extent as if they were set
forth verbatim herein. 

  
 22 

 Section 18.06    Headings. The headings in this Agreement are for reference
only and do not affect the interpretation of this Agreement. 
 Section 18.07    Severability. If any term or provision of
this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in
any other jurisdiction. 
 Section 18.08    Amendments and Modifications. No amendment to or modification of this Agreement
or any Purchase Order is effective unless it is in writing, identified as an amendment to this Agreement or the Purchase Order, and signed by an authorized Representative of each Party. 

Section 18.09    Waiver. 
  

	a.	 No waiver under this Agreement is effective unless it is in writing, identified as a waiver to this Agreement
and signed by an authorized representative of the Party waiving its right. 

  

	b.	 Any waiver authorized on one occasion is effective only in that instance and only for the purpose stated and
does not operate as a waiver on any future occasion. 

  

	c.	 None of the following constitutes a waiver or estoppel of any right, remedy, power, privilege or condition
arising from this Agreement: 

  

	 	i.	 any failure or delay in exercising any right, remedy, power or privilege or in enforcing any condition under
this Agreement; or 

  

	 	ii.	 any act, omission or course of dealing between the Parties. 

Section 18.1    Cumulative Remedies. All rights and remedies provided in this Agreement are cumulative and not exclusive, and
the exercise by either Party of any right or remedy does not preclude the exercise of any other rights or remedies that may now or subsequently be available at law, in equity, by statute, in any other agreement between the Parties or otherwise. 

Section 18.12    Equitable Remedies. Each Party acknowledges and agrees that (a) a breach or threatened breach by such
Party of any of its obligations under ARTICLE 8 would give rise to irreparable harm to the other Party for which monetary damages would not be an adequate remedy and (b) in the event of a breach or a threatened breach by such Party of any such
obligations, the other Party shall, in addition to any and all other rights and remedies that may be available to such Party at law, at equity or otherwise in respect of such breach, be entitled to equitable relief, including a temporary restraining
order, an injunction, specific performance and any other relief that may be available from a court of competent jurisdiction, without any requirement to post a bond or other security, and without any requirement to prove actual damages or that
monetary damages will not afford an adequate remedy. Each Party agrees that such Party will not oppose or otherwise challenge the appropriateness of equitable relief or the entry by a court of competent jurisdiction of an order granting equitable
relief, in either case, consistent with the terms of this Section 18.12. 
 Section 18.13    Assignment. Seller may not
assign any of its rights or delegate any of its obligations under this Agreement without Buyer’s prior written consent; provided that Seller may assign this Agreement upon notice to Buyer but without buyer’s consent, unless Assignee is
known to be a 

  
 23 

 
competitor of Buyer, in such case Buyer consent is required; in connection with any sale by Seller of substantially all of its assets, any merger or other combination involving Seller, or any
change of control of Seller, and provided further, that nothing in this Agreement limits Seller’s right to delegate any of its obligations hereunder to subcontractors, provided that Seller shall remain liable for any failure of performance by
any such subcontractor. 
 Notwithstanding the above, Buyer may assign any of its rights or delegate any of its obligations to any Person without the
consent of Seller and assign any of its rights or delegate any of its duties under this Agreement without any prior consent. 
 Any purported assignment or
delegation in violation of this Section is null and void. No assignment or delegation relieves the assigning or delegating Party of any of its obligations under this Agreement. 

Section 18.14    Successors and Assigns. This Agreement is binding on and enures to the benefit of the Parties to this
Agreement and their respective permitted successors and permitted assigns. 
 Section 18.15    No Third-Party Beneficiaries.
This Agreement benefits solely the Parties to this Agreement and their respective permitted successors and assigns and nothing in this Agreement, express or implied, confers on any other Person any legal or equitable right, benefit or remedy of any
nature whatsoever under or by reason of this Agreement. 
 Section 18.16    Dispute Resolution. Any dispute, controversy or
claim arising out of or relating to this Agreement, or the breach, termination or invalidity hereof (each, a “Dispute”), shall be submitted for negotiation and resolution to the Chief Financial Officer of Seller (or to such other
Person of equivalent or superior position designated by Seller in a written Notice to Buyer) and the Legal Advisor of Buyer (or to such other Person of equivalent or superior position designated by Buyer in a written Notice to Seller), by delivery
of written Notice (each, a “Dispute Notice”) from either of the Parties to the other Party. Such persons shall negotiate to resolve the Dispute. If the Parties cannot resolve any Dispute within five (5) Business Days after
delivery of the applicable Dispute Notice, either Party may submit a request for arbitration in accordance with the provisions of Section 18.17. 

Section 18.17    Arbitration. If the Parties fail to amicably resolve the Dispute under Section 18.16 hereunder, any
Party may submit its request for Arbitration to the International Chamber of Commerce. Such Dispute shall be finally determined and settled by arbitration under the Expedited Procedures Provisions of the Rules of Conciliation and Arbitration of the
International Chamber of Commerce. The number of arbitrators shall be one (1) and the place of arbitration shall be Montreal. Recourse to jurisdictions is expressly excluded except as provided for in the Rules of Conciliation and Arbitration of
the International Chamber of Commerce concerning Conservatory and Interim measures. Judgement on the award of the arbitrator may be entered in any court having jurisdiction thereof. 

Section 18.18    Governing Law. This Agreement, including all Individual Transaction documents and exhibits, schedules,
attachments and appendices attached to this Agreement and thereto and all matters arising out of or relating to this Agreement are governed by and construed in accordance with the laws of the State of California, and the federal laws of the United
States applicable therein without giving effect to any choice or conflict of law provision or rule. The parties agree that the United Nations Convention on Contracts for the International Purchase does not apply to this Agreement. 

  
 24 

 Section 18.19    Counterparts. This Agreement may be executed in
counterparts, each of which is deemed an original, but all of which together are deemed to be one and the same agreement. Notwithstanding anything to the contrary in Section 18.04, a signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission is deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

Section 18.20    Force Majeure. Any delay or failure of either Party to perform its obligations under this Agreement will be
excused to the extent that the delay or failure was caused directly by an event beyond such Party’s control, without such Party’s fault or negligence and that by its nature was not reasonably foreseen by such Party or, if it could have
been foreseen, was not avoidable via the use of reasonable and customary precautions (which events may include natural disasters, embargoes, explosions, riots, wars or acts of terrorism) (each, a “Force Majeure Event”). Neither
Party’s financial inability to perform, changes in cost or availability of materials, components or services, market conditions or supplier actions or contract disputes that are not attributable to Force Majeure Events will not excuse
performance by Seller under this Section. The Party whose performance is affected (the “Affected Party”) shall give the other Party (the “Other Party”) prompt written notice of any event or circumstance that is reasonably likely
to result in a Force Majeure Event, and the anticipated duration of such Force Majeure Event. The Affected Party shall use all diligent efforts to end the Force Majeure Event, ensure that the effects of any Force Majeure Event are minimized and
resume full performance under this Agreement. 
 The rights granted to the Affected Party with respect to excused delays under this Section are intended to
limit the Affected Party’s rights under theories of commercial impracticability, impracticability or impossibility of performance 

Section 18.21    Relationship of Parties. Nothing in this Agreement creates any agency, joint venture, partnership or other
form of joint enterprise, employment or fiduciary relationship between the Parties. Seller is an independent contractor under this Agreement. Neither Party has any express or implied right or authority to assume or create any obligations on behalf
of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any third party. 

Section 18.22    No Public Announcements. Neither Party nor any of its Representatives shall (orally or in writing) publicly
disclose, issue any press release or make any other public statement, or otherwise communicate with the media, concerning the existence of this Agreement or the subject matter hereof, without the prior written approval of the other Party, except if
and to the extent that such Party based upon the advice of counsel is required to make any public disclosure or filing regarding the subject matter of this Agreement: 
  

	 	a.	 by applicable Law; 

  

	 	b.	 pursuant to any rules or regulations of any stock exchange of which the securities of such Party or any of its
Affiliates are listed or traded; or 

  

	 	c.	 in connection with enforcing its rights under this Agreement. 

Section 18.23    Language. The parties have required that this Agreement and all documents and notices resulting from it be
drawn up in English. Les parties aux presents ont exigés que la présente convention ainsi que tous les documents et avis qui s’y rattachent ou qui en découleront soient rédigés en anglais. 

[SIGNATURE PAGE FOLLOWS] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date. 

 

			
	LION ELECTRIC
		
	By	 	 /s/Yannick Poulin

	Name:	 	Yannick Poulin
	Title:	 	Chief Operations Officer
	
	ROMEO SYSTEMS INC
		
	By	 	 /s/ Lionel Selwood

	Name:	 	Lionel Selwood
	Title:	 	President and Chief Executive Officer

 SCHEDULE 1 PRODUCT SPECIFICATION 

  
 26 

							
	

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	DRN: SE-PRSP-014	  	Revision: 1        	  	Date: 10/28/2020	  	Page 1 of 15
	Title: [***] Pack Specification

  

 [***] Pack Specification 

SE-PRSP-014 

							
	

	  	4380 Ayers Avenue, Vernon, CA, 90058        
	DRN: SE-PRSP-014	  	Revision: 1        	  	Date: 10/28/2020	  	Page 2 of 15
	Title: [***] Pack Specification

  

 Revision Control 
  

											
	 REVISION
	  	 DATE
	  	 SUMMARY
	  	 PREPARED
	  	 REVIEWED
	  	 APPROVED

	0	  	05/15/2020	  	Initial release	  	[***]	  	[***]	  	[***]
	1	  	10/28/2020	  	Updated Pack Details	  	[***]	  	[***]	  	[***]

 version History 
  

			
	Rev 0	  	Initial release
		
	Rev 1	  	Updated mechanical specifications and added reference images

  

							
	

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	Title: [***] Pack Specification

  

					
	Table of Contents	  			
	 Table of Tables
	  	 	3	 
	 Table of Figures
	  	 	4	 
	 1. Nomenclature
	  	 	5	 
	 2. Acronyms
	  	 	5	 
	 3. Purpose
	  	 	5	 
	 4. Reference Documents
	  	 	5	 
	 5. General Specifications Tables
	  	 	6	 
	 5.1. General and Electrical
	  	 	6	 
	 5.2. Thermal Specifications
	  	 	7	 
	 5.3. Performance Data
	  	 	7	 
	 5.4. Mechanical Specifications
	  	 	8	 
	 5.5. Environmental Specifications
	  	 	8	 
	 5.6. Safety Features
	  	 	8	 
	 5.7. Electrical Load Specifications
	  	 	8	 
	 5.8. BMS Specifications
	  	 	9	 
	 5.9. Module and Pack Compliance
	  	 	9	 
	 6. Electrical Architecture (Pack)
	  	 	10	 
	 Appendix A: Module Thermal System Information
	  	 	12	 
	 Appendix B: Software Protections
	  	 	13	 
	 Appendix C: [***] Reference Images
	  	 	14	 
		
	Table of Tables	  			
		
	 Table 1 Acronyms
	  	 	5	 
	 Table 2 General and Electrical Specifications (Cell)
	  	 	6	 
	 Table 3 General and Electrical Specifications (Module)
	  	 	6	 
	 Table 4 General and Electrical Specifications (Pack)
	  	 	6	 
	 Table 5 Environmental and Thermal Specifications (Pack)
	  	 	7	 
	 Table 6 Performance Specifications (System)
	  	 	7	 
	 Table 7 Mechanical Specifications
	  	 	8	 
	 Table 8 Environmental Specifications
	  	 	8	 
	 Table 9 Safety Features
	  	 	8	 
	 Table 10 Electrical Load Requirements
	  	 	8	 
	 Table 11 BMS Specifications
	  	 	9	 
	 Table 12 Module and Pack Compliance Specifications
	  	 	9	 

							
	

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	Title: [***] Pack Specification

  

  

					
	 Table 13 Max cell temperature as a function of C-rate and
flow rates
	  	 	12	 
	 Table 14 Software Protections
	  	 	13	 
		
	Table of Figures	  			
		
	 Figure 1 [***] Pack Architecture
	  	 	10	 
	 Figure 2 MCB Architecture - Reference
	  	 	11	 
	 Figure 3 Pressure Drop Across Hermes Module
	  	 	12	 
	 Figure 4 [***] Right Side Reference Image
	  	 	14	 
	 Figure 5 [***] Left Side Reference Image
	  	 	15	 

							
	

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	Title: [***] Pack Specification

  

	1.	 Nomenclature 

 

			
	Battery Cell:	  	A single 21700 cylindrical cell (core building block).
	Battery Module:	  	[***] cell configuration (576 cells) are assembled to form a module.
	Battery Pack:	  	Modules connected [***] to meet the system voltage requirement [***]
	Battery System:	  	Packs connected [***] to meet the system current and capacity requirements.

  

	2.	 Acronyms 

  

			
	 Acronym
	  	 Definition

	BMB	  	Battery Monitoring Board
	BMS	  	Battery Management System
	BOL/EOL	  	Beginning Of Life / End Of Life
	Capacity	  	The energy holding potential of a cell, module, or pack
	C-Rate	  	The rate of charge or discharge as a ratio of the capacity of the battery.
	DCIR	  	Direct Current Internal Resistance.
	HVIL	  	High Voltage Interlock Loop
	ICD	  	Interface Control Document
	ISO SPI	  	ISOiated Serial Peripheral Interface
	kW	  	Kilowatt
	kWh	  	Kilowatt hours
	SOC	  	State of charge
	MCB	  	Master Control Board
	MSD	  	Manual Service Disconnect
	S and P	  	S and P are short for Series and Parallel and designate the number of cells in a module or pack that are in series or parallel.
	SOC	  	State of charge
	SOH	  	State Of Health
	SOP	  	State Of Power
	W	  	Watt
	Wh	  	Watt hours
	WEG	  	Water Ethylene Glycol

 Table 1 Acronyms 
  

	3.	 Purpose 

This document details the system specifications for the [***] Battery Pack. 
  

	4.	 Reference Documents 

Notes: 
  

	 	•	 	 All values specified in the document are at BOL and considering [***] orientation 

 

	 	•	 	 Electrical specifications are based on cell level projections and subject to change 

							
	

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	Title: [***] Pack Specification

  

	5.	 General Specifications Tables 

 

	5.1.	 General and Electrical 

 

			
	General and Electrical (Cell) Specification
		
	Cell Type	  	[***]
	Cell Voltage, (min, max, nom)	  	[***]
	Cell Voltage Derated (min, max)	  	
		
	 *  Above recommended derating can be adjusted to optimize for capacity or cycle
life
	  	[***]
	Cell Capacity	  	[***]
	Cell Capacity Derated	  	[***]

 Table 2 General and Electrical Specifications (Cell) 

 

			
	General and Electrical (Module) Specification
		
	Cell Type	  	[***]
	Module Cell Count (configuration)	  	[***]
	Module Capacity (total)	  	[***]
	Module Capacity (usable)	  	[***]
	Module Voltage (min, max, nom)	  	[***]
	Module Voltage Derated (min, max)	  	[***]
	Gravimetric Energy Density (module dry weight)	  	[***]
	Di-electric Withstand	  	[***]
	
	 * Module specifications are based on cell level projections and are for reference only.

* Useable capacity based on recommended derating in Table 2

 Table 3 General and Electrical Specifications (Module) 

 

			
	General and Electrical (Pack) Specification
	Pack PN	  	[***]
	Cell Type	  	[***]
	Module Count (Configuration)	  	[***]
	System Capacity, (total)	  	[***]
	System Capacity, (usable)	  	[***]
	System Voltage Operating, [VDC] (min, max, nom)	  	[***]
	System Voltage Derated, [VDC] (min, max)	  	[***]
	
	* For pack performance refer to useable values

 Table 4 General and Electrical Specifications (Pack) 

							
	

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	Title: [***] Pack Specification

  

	5.2.	 Thermal Specifications 

Environmental and Thermal Specification 
  

					
	Operating Temperature Range	  	 	[	***] 
	 Charge Temperature Range
	  	 	[	***] 
	 Cooling Mechanism
	  	 	[	***] 
	 Thermal Management System
	  	 	[	***] 
	 Connection type and qty
	  	 	[	***] 
	 Operating Pressure
	  	 	[	***] 
	 Maximum Pressure
	  	 	[	***] 
	 Pressure drop
	  	 	[	***] 
	 Inlet Temperature, operating [°CJ (nominal)
	  	 	[	***] 
	 *  see current limits document for battery performance based on
temperature
	    

 Table 5 Environmental and Thermal Specifications (Pack) 

 

	5.3.	 Performance Data 

Performance 
  

					
	 Cell Type
	  	 	[	***] 
	 DCIR/system [mW] (10 sec, 30% soc,
25°C, 1C discharge, BOL, nominal)
	  	 	[	***] 
	 Peak Discharge Current [A] (50% to 100% SOC, 25°C, 30 sec)
	  	 	[	***] 
	 Peak Discharge Power [kW] (50% to 100% SOC, 25°C, 30 sec)
	  	 	[	***] 
	 Continuous Discharge Current [A] (30% to 100% SOC, 25°C)
	  	 	[	***] 
	 Continuous Discharge Power [kW] (30% to 100% SOC, 25°C)
	  	 	[	***] 
	 Charge Current [A] (25°C, CC-CV)
	  	 	[	***] 
	 Charge Power [kW] (25°C, CC-CV)
	  	 	[	***] 
	 Peak Fast Charge Current [A] (2.5% to 72.5% SOC, 25°C)
	  	 	[	***] 
	 Peak Fast Charge Power [kW] (2.5% to 72.5% SOC, 25°C)
	  	 	[	***] 
	 Continuous Regen Current [A] (0% to 90% SOC, 25°C)
	  	 	[	***] 
	 Continuous Regen Power [kW] (0% to 90% SOC, 25°C)
	  	 	[	***] 
	 Peak Regen Current [A] (0% to 60% SOC, 10sec, 25°C)
	  	 	[	***] 
	 Peak Regen Power [kW] (0% to 60% SOC, 10sec, 25°C)
	  	 	[	***] 
	 Cycle Life (to 80%) Requirement, [cycles] (C/3 charge, 1C discharge, 25°C)
	  	 	[	***] 

 *All stated current limits in this table are to ensure optimal cycle life. Actual battery life will vary based
on operation of the battery. 
 * All power values correspond to nominal voltage. 

* Fast charging not currently available with this cell. Request information for other cells if required. 

* Fast charging significantly reduces battery cycle life. Details upon request. 

* BMS will limit charge/discharge current based on SOC, temperature and voltage limits. 

Table 6 Performance Specifications (System) 

							
	

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	5.4.	 Mechanical Specifications 

Module Mechanical Specification 
  

			
	 Dimensions L × W × H [mm]
	  	[***]
	 Dry Weight [kg]
	  	[***]
	 External Materials
	  	[***]
	 Wetted Materials
	  	[***]
	 Safety Standard
	  	[***]
	 Pack Dimensions L × W × H [mm]
	  	[***]
	 Estimated Pack Weight [kg]
	  	[***]
	 External Materials
	  	[***]
	 Wetted Materials
	  	[***]
	 Mounting Interface
	  	[***]
	 Lifting Interface
	  	[***]
	 Ingress Protection
	  	[***]

 * [***] please refere Appendix C for available configurations. 

Table 7 Mechanical Specifications 
  

	5.5.	 Environmental Specifications 

Environmental Specification 
  

			
	 Recommended Storage Temperature, 1-year,
soc<30%)
	  	[***]
	 Humidity, Module Operating [RH]
	  	[***]
	 Humidity, Pack Operating [RH]
	  	[***]
	 Pack Ambient Pollution Degree
	  	[***]
	 Max Operating Altitude [m]
	  	[***]

 Table 8 Environmental Specifications 

 

	5.6.	 Safety Features 

Safety Features 
  

			
	 HVIL
	  	[***]
	 MSD
	  	[***]
	 Isolation Monitoring
	  	[***]
	 High pressure atmospheric venting system
	  	[***]

 Table 9 Safety Features 
  

	5.7.	 Electrical Load Specifications 

Electrical Load Requirements Specification 
  

			
	 Pre charge time [s]
	  	[***]
	 Fuse
	  	[***]
	 DC link Capacitance
	  	[***]

 Table 10 Electrical Load Requirements 

							
	

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	5.8.	 BMS Specifications 

BMS Specification 
  

			
	 BMS Included
	  	[***]
	 Architecture
	  	[***]
	 BMS Input Voltage [VDC] (min, max, nom)
	  	[***]
	 Cell Balancing
	  	[***]
	 Temperature Sensing
	  	[***]
	 Voltage Sensing
	  	[***]
	 Current Sensing
	  	[***]
	 CAN Lines
	  	[***]
	 Pack Contactor Control
	  	[***]
	 Safety and Protectors
	  	[***]
	 Battery Algorithms
	  	[***]
	 Wake Source
	  	[***]
	 Contactor Feedback
	  	[***]
	 Precharge Time (to 98% pack voltage)
	  	[***]
	 CAN channels
	  	[***]
	 Battery CAN
	  	[***]
	 Vehicle CAN
	  	[***]
	 Diagnostic CAN
	  	[***]

 * Detailed BMS specifications can be found in Reference 1 

** Detailed list of Software protections is included in Appendix B 

+ SOH estimation is a work in progress and will be available in following FW updates

 Table 11 BMS Specifications 
  

	5.9.	 Module and Pack Compliance 

Module and Pack Compliance 
  

			
	 Vibration
	  	[***]
	 Shock
	  	[***]
	 Transportation
	  	[***]
	 Other
	  	[***]

 Table 12 Module and Pack Compliance Specifications 

							
	

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	6.	 Electrical Architecture (Pack) 

[***] 

							
	

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 [***] 

							
	

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 Appendix A: Module Thermal System Information 

[***] 

							
	

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 Appendix B: Software Protections 
  

	*	 Please refer to BMS specification document (Reference Document l) for more details 

[***] 

							
	

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 Appendix C: Orion V4 Reference Images 

[***] 

							
	

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 [***] 

 SCHEDULE 2     LION ELECTRIC NON-BINDING
FORECASTS 
  

																	
	Unit Forecast	  	 	 	  	 	 	  	 	 	  	 	 
	In units	  	 	 	  	 	 	  	 	 	  	 	 
	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 
	 Trucks
	  				  				  				  			
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	
	 Bus
	  

	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Production
	  				  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
		  				  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  
 32 

 SCHEDULE 3     ITEM PRICING 

Multiple Lion Electric platforms 
  

													
	 Volume (MWh)
	  	Item recurring pricing
(USD $/KWh)	 	  	Lion Electric target
(USD$/kWh)	 	  	Battery recurring pricing
(USD$)	 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 
	 [***]
	  	 	[***	] 	  	 	[***	] 	  	 	[***	] 

 Recurring pricing as defined in table above is applicable for any and all combination of Buyer vehicle platforms. Considering
the minimum quantity as specified in section 3.2 of this Agreement, the Baseline Recurring price is [***] USD/kWh 
 Once buyer reaches the next volume
threshold as defined in the table above as confirmed by Purchase orders from Buyer, the corresponding Item recurring pricing becomes effective and is the new Baseline Recurring price and is applicable to all Goods deliveries. 

Supplier will make best efforts to meet Lion Electric target price during the Term of this Agreement 

  
 33 

 SCHEDULE 4    Lion Electric Standard purchase order terms 

 

					
		 	 

	  	LION GENERAL PURCHASING TERMS & CONDITIONS
	  	                                January 2020

  

	1.	 LANGUAGE: By following up on this purchase order, the Supplier, as defined below is deemed to have
accepted that the general terms and conditions of purchase applicable to the sale of goods or services covered by this purchase order are written only in English. A French version of the general purchasing terms and conditions that follow is
available upon request from the sender of this purchase order. 

  

	2.	 DEFINITION: The Supplier is the one who sells goods or offers services in this purchase order to Lion
Electric Company (hereinafter’ Lion”). 

  

	3.	 OBJECT. The Supplier agrees to sell and/or return the goods and/or services described in this purchase
order to Lion in accordance with the general terms and conditions of the purchase detailed above. 

  

	4.	 ACCEPTANCE. The Supplier declares and acknowledges to have read, accepted and is satisfied with the
present general terms and conditions of purchase in the present purchase order. The Supplier acknowledges that the initiation of services, work and/or provision of goods and/or services described constitutes its full and unconditional acceptance of
the general purchase terms and conditions outlined on the present purchase order. 

  

	5.	 INVOICING. All invoices whose prices do not match those on Lion’s purchase order will be rejected
and subject to revision. 

  

	6.	 PRICE. The Supplier acknowledges and warrants that the price indicated on the purchase order is the only
price applicable hereafter. Any change requested by Lion resulting in increased costs will be borne in full by Lion, at the prices in effect at the time of the requested change, and upon written acceptance by Lion. 

 

	7.	 PAYMENT. Lion will pay invoices by cheque within [***] days of the invoice date, subject to lion’s
acceptance of the goods and/or services outlined in paragraph 11. 

  

	8.	 DELIVERY SCHEDULE. Any delivery of goods and/or the start of services must be carried out according to
the schedule determined by Lion. Lion may change the schedule or postpone it by simply notifying the Supplier. The latter can only change the price with Lion’s formal agreement. 

 

	9.	 DELIVERY. The Supplier must write the order number on the delivery voucher. All requested delivery
documents are required upon delivery of the order. Never exceed or reduce the quantity ordered without prior authorization from Lion and/or without a revised purchase order. 

 

	10.	 IMPORT. Please include on all import documentation (delivery note, commercial invoice, B13A and NAFTA,
when required) the complete description (and not your product code) with the tariff code (HS number). If applicable, you must also provide your valid tax number. 

 

	11.	 INSPECTION. All goods and/or services are subject to inspection by Lion upon reception. The inspection
and approval of the goods and/or services by Lion will not prevent Lion from rejecting the goods and/or services for defects discovered during a subsequent inspection after receipt. Any goods and/or service rejected by Lion must be promptly repaired
and/or replaced at the Supplier’s expense. All costs incurred by Lion in connection with the return of rejected goods or their repair due to defects are the sole responsibility of the Supplier. 

 

	12.	 IDENTIFICATION. The Supplier must identify each product individually with the corresponding part number
on the purchase order. 

  

	13.	 NON-COMPLIANT PRODUCT: The Supplier must notify Lion of any non-compliant product and obtain Lion’s approval before disposing the non-compliant product. 

 

	14.	 MODIFICATIONS: Lion reserves the right to modify this order at any time, as well as the plans, and
specifications for the preparation of materials, products and/or services and the Supplier agrees to make these changes promptly. Any price difference or change in due date will be fairly adjusted by Lion. Any amendments will be made in writing and
duly accepted by an authorized representative of Lion. 

  

	15.	 GUARANTEE: The Supplier guarantees that the goods and/or services comply with specifications, drawings,
samples or other descriptions provided or adopted by Lion, that they are made of approved-quality materials, by a qualified workforce, that they are 

  
 34 

	 	
free from defects, they are new and unused and are exempt from all fees, liens and securities. The Supplier guarantees that these goods are free from design defects and are fit for the use for
which Lion has assigned them. Lion’s approval of the models provided by the Supplier does not relieve the Supplier of its obligation under this warranty. The inspection, testing or use of goods does not affect this warranty. The Supplier must
provide Certificates of Conformity for the specifications or certified analyses at Lion’s request. The Supplier agrees to replace all defective goods at its own expense. This guarantee will be in effect for the normal life of the goods and/or
services. The Supplier must bear all costs relating to the return of the goods to the Supplier due to breach of warranty and assumes any risk of loss or damage to the goods during transport. This guarantee is for the benefit of Lion, its successors,
beneficiaries, customers and users of its products. This Supplier’s guarantee in favour of Lion is additional to the guarantee to which the seller is bound by the Law. 

 

	16.	 VIOLATION: The Supplier guarantees that the use or sale of the goods and/or services in the form, state
and condition in which they are delivered hereunder does not constitute a violation of any American, Canadian or foreign patent, trademark or copyright, relative to the goods, services, or the manner in which they are manufactured.

  

	17.	 INDEMNIFICATION: The Supplier agrees to indemnify and hold harmless Lion from and against any and all
damages, losses, claims, injuries, deaths, liabilities, costs, expenses (including attorneys’ fees) and causes of action of any kind with respect to any action or omission of the Supplier, or its servants, agents, affiliated companies,
subcontractors, officers, shareholders, officers, directors or any person for whom they are legally responsible. The Supplier declares that it holds a liability insurance policy and a non-life insurance policy
in sufficient amounts to protect Lion against any of the above risks. Upon request by Lion, the Supplier will provide Lion with such proof. 

  

	18.	 DAMAGES: In the event that the Supplier fails to comply with its obligations hereunder, Lion may claim
compensation for damages resulting directly or indirectly from the performance, non-performance or breach of an obligation, the fault, error, omission or negligence of the Supplier, its servants, agents,
affiliated companies, subcontractors, officers, shareholders, officers, directors or any person for whom it is legally responsible, against any loss, costs or damages arising from the actual or alleged violation of those laws and regulations.

  

	19.	 COMPENSATION: Lion may seek compensation for any sum that may be due to Lion at any time with prior
notice to the Supplier. 

  

	20.	 NON-WAIVER: A party’s silence, negligence or delay in
exercising a right or remedy under the contract shall never be construed against a party as a waiver of its rights and remedies. 

  

	21.	 FORCE MAJEURE: If the Supplier is unable to perform its obligations hereunder due to force majeure, the
execution of its obligations shall be suspended for the period during which such force majeure lasts. However, Lion may, at its sole discretion, cancel this or any other order, in whole or in part, or immediately seek alternative supply sources
without default under this order and any purchase made under these conditions is included in Lion’s volume commitments, where applicable. 

  

	22.	 HEALTH AND SAFETY: The Supplier declares that it complies with all applicable occupational health and
safety laws and undertakes to comply at all times with the safety provisions imposed by Lion under liability and may result in the termination of this agreement. If an employee of the Supplier, or one of its subcontractors, fails to comply with this
clause, Lion may, after a first verbal notice given to that employee and a written notice sent to the Supplier, proceed to expulsion on the second violation, without notice. In the event of serious misconduct, the expulsion may be immediate and
without notice. 

  

	23.	 ENVIRONMENT: All materials brought to Lion by Suppliers required for the performance of work, which are
hazardous materials or, which after use, generate residual hazardous materials (hazardous waste) are the sole responsibility of the Suppliers. The latter shall take the necessary steps to ensure that the handling of these materials on the Lion site
is carried out in accordance with the applicable laws and regulations. When the work is completed, Suppliers must leave the site with their hazardous materials, whether residual or not, and carry out their removal, transport, treatment and/or
disposal in accordance with applicable laws and regulations. If an employee of the Supplier, or one of its subcontractors, fails to comply with this clause, Lion may, after a first verbal notice given to that employee and a written notice sent to
the Supplier, proceed to expulsion on the second violation, without notice. In the event of serious misconduct, the expulsion may be immediate and without notice. 

 

	24.	 ENTIRE AGREEMENT: In addition to the plans and specifications, this agreement constitutes the total and
entire contract between the parties, excluding any other prior or concurrent document, promise or verbal contract. 

  

	25.	 AMENDMENT: No amendment hereto may be made without it being recorded in writing and duly signed by an
authorized representative of Lion. 

  

	26.	 TRANSFER: The Supplier may not assign its rights and obligations hereunder without the prior written
consent of Lion. 

  

	27.	 NOTICE: Any notice required hereunder shall be sent by email or registered mail with acknowledgement of
receipt to the addresses indicated by Lion. 

  

	28.	 APPLICABLE LAWS: The interpretation, execution, application, validity and effects of this contract are
subject to the applicable laws in force in the Province of Quebec and in Canada. 

  
 35 

	29.	 COMPLIANCE WITH LAWS: The Supplier represents and warrants that all goods sold and/or services rendered
hereunder are manufactured, produced and sold in accordance with applicable laws and regulations. The Supplier undertakes to indemnify and hold harmless Lion against any loss, costs or damages arising from the actual or alleged violation of these
laws and regulations. 

  

	30.	 JUDICIAL DISTRICT: For any claim or legal proceeding for any reason whatsoever, with respect to the
Contract, the Parties agree to select the Judicial District of Terrebonne, Province of Quebec, Canada, as the appropriate place for the hearing of such claims or legal proceedings to the exclusion of any other judicial district which may have
jurisdiction over such litigation as prescribed by law. 

  

	31.	 TERMINATION FOR BREACH: Lion may cancel this order in whole or in part, without incurring any liability
to the Supplier, if the Supplier does not comply with any of the general conditions of purchase stipulated herein. 

  

	32.	 TERMINATION: In addition to any other rights granted to Lion to cancel or terminate hereunder, Lion may,
at its sole discretion, terminate and terminate hereunder immediately, in whole or in part, at any time and for any cause, upon simple written notice to Supplier to that effect. If, at the time of such termination, the Supplier is not in default
under any of the General Conditions of Purchase hereunder, Lion shall pay the Supplier the amounts owed to it under these terms upon presentation of supporting documents. 

 

	33.	 PRIVACY NOTICE: By accepting this order, you certify that you have read and agree to our general
purchasing conditions and our confidentiality agreement. 

  

	34.	 APPLICATION: The Purchase Order is binding on the parties and their legal representatives, assignees,
successors and assigns. 

  
 36 

 SCHEDULE 5    Lion Electric Quality Manual 

  
 37 

 

 

 The Lion Electric Company 

Lion Supplier Quality Manual V1.0 
 ©2020-07-01 The Lion Electric Company 

 

 All rights reserved. All information contained in this manual is based on the latest information available at
the time of printing and is subject to the copyright and other intellectual property rights of The Lion Electric Company, its affiliated companies and its licensors. All rights are reserved to make changes at any time without notice. No part of this
document may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, nor may these materials be modified or reposted to other sites without the prior
expressed written permission of the publisher. 

 

 All requests for permission to copy and redistribute information should be referred to The Lion Electric
Company. 
 Trademarks: ALL brand names and product names used in this manual are trade names, service marks, trademarks, or registered trademarks; and are
the property of their respective owners. 

 

			
	 

 Table of contents
	  	

  

 TABLE OF CONTENTS 
  

					
	 WHO ARE WE?
	  	 	4	 
		
	 GENERAL
	  			
		
	 1. Purpose
	  	 	5	 
		
	 2. Scope
	  	 	5	 
		
	 3. Definitions
	  	 	5	 
		
	 4. Language of communication
	  	 	5	 
		
	 QUALIFlCATION
	  			
		
	 5. Suppliers qualification
	  	 	6	 
		
	 6. Qualification of PPAP parts
	  	 	7	 
		
	 7. Qualification of production parts
	  	 	8	 
		
	 8. Qualification of parts under development
	  	 	8	 
		
	 9. Parts change or manufacturing process change
	  	 	9	 
		
	 DELIVERY REQUIREMENTS
	  			
		
	 10. Parts identification label
	  	 	10	 
		
	 11. Packaging
	  	 	10	 
		
	 NON-CONFORMITY & DEROGATION
	  			
		
	 12. Non-conformity
	  	 	11	 
		
	 13. Derogation
	  	 	11	 
		
	 APPENDIX 11
	  			
		
	 Appendix 1: Confirmation of Compliance
	  	 	12	 
		
	 Appendix 2: Requirements by PPAP level
	  	 	13	 
		
	 Appendix 3: Product/Process Change Notification Form
	  	 	14	 
		
	 Appendix 4: Supplier Derogation Request
	  	 	15	 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	 

 Who are we?
	  	

  

 WHO ARE WE? 

We are Lion Electric and we manufacture the utility vehicles of tomorrow, today Built especially to carry people, deliver goods, boost, charge and even supply
the electrical grid We drive companies and municipalities towards optimum new energy efficiency, profitability and durability. 
 Lion designs and assembles
all components for its vehicles we manufacture our own chassis and van body, and we assemble our own batteries. We have the capacity to manufacture 2,500 vehicles per year using our current infrastructures. 

With the rollout of several Lion Experience Centers and our drive to improve the quality of our environment, we have developed a curriculum for various
environmental agencies to share our knowledge and understanding of electric vehicles. This program goes well beyond our circle of current customers, we set the training and service standards in the market. 

  LION ELECTRIC 
        The bright move. 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	 

 General
	  	

  

 GENERAL 
  

	1.	 Purpose: 

Determine Lion Electric’s various quality and deliverable requirements expected of its suppliers. 

 

	2.	 Scope: 

This manual applies to suppliers who deliver parts or services included with our range of products. Every one of these suppliers must be in
compliance with this manual. In the text below, the term parts also include services. 
  

	3.	 Definitions: 

Development part: Part produced according to drawing specifications, without any production methods, instructions, tools or rates. It
allows for the specifications to be adjusted between the supplier and Lion. 
 PPAP part: Part produced according to drawing
specifications, released with production methods, instructions, tools and rates. The part is delivered the first time based on these characteristics for a given drawing-revision-supplier. 

Production part: Part produced according to drawing specifications, released with production methods, instructions, tools and rates. The
part is delivered to Lion on a recurring basis. 
 PPAP: Production Part Approval Process. 

PSW: Part Submission Warrant. 

Non-conformity: A requirement is not met. 

 

	4.	 Communications: 

Lion communicates in English or French with its suppliers. All documents submitted by suppliers must be in English or French, as preferred by
the supplier. 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	 

 Qualification
	  	

  

 QUALIFICATION 
  

	5.	 Suppliers qualification: 

Suppliers are selected according to their expertise, capacity, quality and price. The process starts with the Strategic Purchasing department
initiating a discussion with the supplier. Considering that a partnership may be formed, the Supplier Quality Manual is sent to the supplier so that the supplier can read it and confirm its compliance with the manual (Appendix 1). 

Lion requires its suppliers to at least comply with the ISO 9001 standard in its business practices and recommends that they comply with the
IATF 16949 automotive industry standard. A certified supplier must provide Lion with its most recent ISO 9001 and IATF 16949 certificates and must provide a copy of their new certification following renewal. A supplier without ISO 9001 standard
accreditation is subject to a quality audit by Lion before first delivery of the production part. Following this audit, recommendations may need to be implemented before delivery of the first parts for approval. 

At all times, for certified and non-certified suppliers, Lion reserves the right to visit a
supplier’s site within 24 hours in the event of a non-conformity. The supplier undertakes to receive Lion, confidentially share its business practices and implement recommendations from the audit. 

The supplier must send the Lion Supplier Quality Manual to its sub-contractors and have it applied by
them with the same stringency as Lion. It is the supplier’s responsibility to qualify its sub-contractor and be liable for its sub-contractor’s quality. Lion
only communicates with direct suppliers and not with the subcontractors of its suppliers. 
  
 

 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	 

 Qualification
	  	

  

	6.	 Qualification of PPAP part: 

Lion has set up a Production Part Approval Process (PPAP). This process is to ensure the future quality of production parts, as at the start of
production to eliminate subsequent problems with Lion vehicles. 
 The process is based on the AIAG (Automotive Industry Action Group) PPAP
manual. In addition to approving the physical characteristics of the part, the purpose is to approve the manufacturing process. Lion recognizes that suppliers are experts in the manufacture of their product. However, Lion wants to ensure that all
the characteristics of the manufacturing process had been taken into account, fully evaluated, and the necessary controls for delivering conforming parts have been implemented. 

As an expert, the supplier has the responsibility to ask any necessary questions about the PPAP part before approving the Purchase Order (PO).
If the supplier deems it necessary to request changes to the drawing for its manufacturing, the supplier must do so prior to accepting the PO. 

PPAP’s level required is level 4 in accordance with AIAG manual (Annex 2), unless otherwise specified under the purchase order. Parts to
be used for the PPAP run shall be produced according to the manufacturing standard and with the final production tooling. 
 Be aware that
from a purchase order standpoint, the part to be used for the PPAP run will come from the first production order. There won’t be any specific PPAP order. 

Number of parts required to produce for the PPAP run are 5 pieces by default. Consequently, PPAP package shall support this number of pieces
and includes all the necessary measurement/test reports based on this sampling size. 
 Unless otherwise specified from our purchasing
department, the PPAP parts shall be kept at supplier location as long as the PSW is not approved by our quality department. 
 At the
discretion of the quality department, it may be possible that in some situation the quality department decide to lead an on-site process audit of the supplier manufacturing process. 

All PPAP documents must be submitted to Lion. The supplier may submit these documents in its standard format in compliance with the AIAG PPAP
manual or may ask Lion to supply it with a basic template. 
 A rejected PPAP leads to the rejection of the part or its manufacturing
process. The supplier needs to review non-conforming items and resubmit the file and the PPAP parts. Production parts delivery cannot start without the Part Submission Warrant (PSW) signed by Lion’s
Quality department. 
  
 

 

  

					
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	 Qualification

    

  

	7.	 Qualification of production parts: 

When a PO is accepted by the supplier, the supplier undertakes to comply with all the terms and conditions, and to provide the parts based on
the drawing requirements provided in the PO. The supplier is responsible for ensuring the quality of delivered production parts. These parts must be considered ready to install without Lion needing to inspect them. 

Production parts will follow a periodic control process upon receipt, depending on the nature of the part, its criticality and its history. Any
part that is non-conforming will follow the non-conformity process. 
 The quality documentation for each lot must be retained by the
supplier for a period of five years after delivery of the last production part. These documents include various inspection reports, various tests conducted, and certificates for component material by production lot. These documents must remain
accessible in a 24-hour period whenever required by Lion. 
  
 

 
  

	8.	 Qualification of development part: 

Development parts are not handle by the PPAP process. Lion expects parts under development to conform to the drawings, without needing to be
manufactured according to future manufacturing standards. The parts will be subject to inspections and follow the same non-conformity process as a production part. 
  

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	    

	  	

	 Qualification

    

  

	9.	 Parts change or manufacturing process change 

Any change to a part design or part manufacturing process must be sent at least 12 weeks in advance and approved by Lion before the change is
applied. The supplier must complete the Product/Process Change Notification form available in Appendix 3. The part must undergo qualification of PPAP part again. Depending on the change made, only changes made may be submitted, subject to prior
quality approval by Lion. Please refer to Table 31 in the 4th edition of the AIAG PPAP manual for sample changes. 
  
 

 
  

  

					
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	 	info@thelionelectric.com        

			
	    

	  	

	 Delivery Requirements

    

  

 DELIVERY REQUIREMENTS 
  

	10.	 Parts identification label 

Production parts must be identified at delivery. The identification may be indicated on the part or on the part packaging. Each part number is
to be package dissentingly, parts from two different part numbers cannot be delivered in the same package. Lion requires the Lion part number followed by the revision number (e.g.: 12800169_00), the quantity, and the supplier’s lot number on
the identification label. The PO number, the PO line number, the Lion part number followed by the revision number (e.g.: 12800169_00), its description and quantity must also be indicated on the packing slip. 

Development parts and PPAP parts must be identified with the same label as production parts. However, Lion also asks to have an additional
label added with the following format. The label must be printed on blue paper for development parts and on pink paper for PPAP parts. 
  

 
  

	11.	 Packaging: 

Parts must be packaged according to standard industry requirements. The supplier is responsible for ensuring the selected packaging protects
the material during its entire journey. Quantities per container must be validated by the Lion Logistics department for a part for approval. 
  

 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	    

	  	

	 Non-conformity & Derogation

    

  

 NON-CONFORMITY & DEROGATION 

 

	12.	 Non-conformity: 

A non-conformity is issued for any part that does not conform to the drawing or the pre-established packaging requirements. A non-conformity
report is documented by Lion with information specifying the non-conformity and the lots affected. This report is submitted to the supplier by the Lion Quality department. The supplier reads the non-conformity and establishes an immediate response
plan within 24 hours for the parts in stock at Lion or in transit. The supplier, based on Lion’s requirements and while ensuring the supply, proposes disposal of non-conforming lots that must be validated by Lion. When returning parts to the
supplier or if Lion recycles the parts, a part replacement plan must also be included from the supplier in accordance with Lion’s requirements. Should Lion need to sort or rework the parts, it would incur costs of $95/hour for labour and the
costs for any additional material required. In the second option, Lion submits a preliminary cost estimate to the supplier. Should the supplier not respond to the non-conformity within 24 hours or the production line is stopped, the actions taken by
Lion are automatically charged to the supplier. A contingency plan by the supplier with various actions taken must also be submitted to Lion within seven (7) days and must be approved before resumption of delivery. Under such circumstances,
Lion may request different quality documents for the affected lots and prior lots. Based on the criticality or recurrence of the non-conformity, Lion may ask the supplier to produce a full corrective actions report based on industry standards (e.g.:
Six Sigma, 8D, A3), including root causes and a detailed action plan. In such case, the supplier has fourteen (14) days to submit this documentation. 

Lion can raise a non-conformity at any time. The non-conformity can be detected at reception, at production or following use of the vehicle by
the customer. Lion may come back to its suppliers at any time, without any limitation period, if it shows that the non-conformity originates from the supplier. 
  

 
  

	13.	 Derogation 

The supplier may submit a derogation request when the part’s condition does not conform to the drawing but the fit/ form/function is not
affected. A derogation request must be sent to Lion’s Quality department before delivery, indicating the lots, the quantity affected and the delivery dates. The Lion request form in Appendix 4 must be used. This request must be approved by the
Lion Quality team before any delivery and this signed request must be attached to the delivery documentation. 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	     

  
	  	

	 Appendix

    

  

 Appendix 1: Confirmation of Compliance 

Confirmation of Supplier Compliance 
 The
supplier hereby confirms to have read the Supplier Quality Manual and confirms that the manual will be applied for all deliveries to Lion Electric. 
  

					
	Name of supplier:
			
	ISO 9001 certification:	  		  	☐  YES*    ☐  NO
			
	IATF 16949 certification:	  		  	☐  YES      ☐  NO
			
	 *  Please attach a copy of the certificate(s) to this letter.
	  		  	
			
	Name of person in charge:	  		  	
			
	Titre	  		  	
			
	SIGNATURE:	  	DATE	  	
			
	Please return the confirmation letter to your buyer as soon as possible.	  		  	

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	     

  
	  	

	  
 Appendix

    

  

 Appendix 2: Requirements by PPAP 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	    

	  	

	 Appendix

    

  

 Appendix 3: Product/Process Change Notification Form 

(Available in electronic format from Lion) 

  

					
	 SUPPLIER QUALITY MANUAL VO
	 	

	 	info@thelionelectric.com        

			
	 

                          
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                                         
                     
 Appendix
	  	

  

			
	Appendix 4:  	 	Supplier Derogation Request
		 	(Available in electronic format from Lion)

  

					
	SUPPLIER QUALITY MANUAL VO	  	

        	  	info@thelionelectric.com

 

 

 SCHEDULE 6     Seller Standard Warranty Terms 

  
 38 

 

 
 EXHIBIT [C] 

ROMEO SYSTEMS, INC. LIMITED PRODUCT WARRANTY 
  

	
	
PURCHASER:               
                                         
                                         
                           

	
	 PURCHASE
AGREEMENT:                                      
                                         
                       

 1.     WARRANTY 

Subject to Section 2 of this Romeo Systems, Inc. Limited Product Warranty (this “Warranty”), Romeo Systems, Inc., doing
business as Romeo Power Technology (“Romeo”), warrants to the purchaser specified above (“Purchaser”) that each battery pack purchased by Purchaser from Romeo pursuant to the Purchase Agreement identified above
(“Product”) shall be free of defects in design, materials and workmanship during the period (the “Warranty Period”) commencing upon Purchaser’s receipt of the Product and ending upon the earliest to occur of the
following: (i) the [***] anniversary of the first use of the Product, (ii) the [***] anniversary of the date that Romeo first shipped the Product, and (iii) the aggregate accumulation of [***] ampere hours during discharge and charge as
recorded and calculated by the Product (“Ah-throughput”); provided, however, that if the Product fails to record Ah-throughput or if the Ah-throughput record shall become corrupted or unreadable, the Warranty Period shall end on the earlier (i) the [***] anniversary of the first use of the Product and (ii) the [***] anniversary of the date
that Romeo first shipped the Product. 
 2.     CONDITIONS 

Notwithstanding any other provision hereof, this Warranty shall be void and of no force or effect if: 

 

	 	•	 	 the Product is altered or repaired by any person other than Romeo or Romeo’s authorized service
representative; 

  

	 	•	 	 neither Purchaser nor any person that subsequently obtains the Product shall fail in any respect to
(i) install, operate, maintain, store and transport the Product in accordance with any guidelines or instructions provided by Romeo or (ii) comply with Section 3 of this Warranty; 

 

	 	•	 	 cell temperature is at any time lower than 10°C or higher than 40°C; or 

 

	 	•	 	 the Product is at any time exposed to ambient temperatures above 60°C or below
-30°C. 

 Further, Romeo shall have no liability or obligation under this
Warranty, and no Product shall be deemed to violate this Warranty, as a result of any failure, condition or problem attributable to: 
  

	 	•	 	 accident; 

  
 1 

 

 
  

	 	•	 	 fire; 

  

	 	•	 	 immersion in liquid; 

  

	 	•	 	 natural disasters, war, riot, terrorism, or other events or occurrences that are beyond Romeo’s reasonable
control; or 

  

	 	•	 	 electrical overloading or external electrical shorts, power failure surges, inrush current or lightning.

 3.    CLAIM PROCESS AND EXCLUSIVE REMEDY 

Purchaser shall promptly notify Romeo of any violation of this Warranty by telephone and email or physical letter as follows: 

 

					
		 	Email:	    	warrantyclaims@romeopower.com
		 	Phone:	    	323-675-2180
		 	Address:	    	 Romeo Power Technology
 4380 Ayers Ave

Vernon, CA 90058

 Such notice shall (i) describe the warranty violation in detail and (ii) specify the date that the
Product was first shipped by Romeo, the date that the Product was first used and the serial number of the Product. If Romeo requests, Purchaser shall confer (or shall cause the then-current owner of the Product to confer) with a Romeo engineer or
technician for the purpose of providing any requested information and endeavoring to resolve the warranty claim expeditiously. If requested by Romeo, Purchaser shall allow (or shall cause the then-current owner of the Product to allow) an authorized
Romeo engineer or technician to inspect the Product at Purchaser’s (or such then-current owner’s) facility or will ship (or cause the then-current owner to ship) the Product to Romeo, FOB destination, to the address provided above or other
address specified by Romeo. 
 If Romeo accepts the warranty claim, it will promptly make commercially reasonable efforts to repair or
replace the Product and, if the Product is at Romeo’s facility, will ship the repaired or replaced Product to Purchaser FOB Purchaser’s address (or, if Purchaser requests, to the then-current owner of the Product FOB such current
owner’s address). The repaired Product or replacement Product (as the case may be) will continue to be covered by this Warranty for the remainder of the original Warranty Period. (Accordingly, for purposes of determining the Warranty Period for
a repaired or replacement Product, the ship date and first use date, respectively, of the repaired or replacement Product shall be deemed to be the same as the ship date and first use date of the original Product, and the Ah-throughput of the repaired or replacement Product as of the time that it is shipped or otherwise provided by Romeo shall be deemed to be the same as the Ah-throughput of
the Product at the time of the applicable warranty claim.) Any Product or any components thereof that are replaced shall become the property of Romeo. The decision whether to repair a defective Product or replace it shall be made by Romeo in the
exercise of its sole discretion. If the defective Product is replaced and the original Product is at Purchaser’s (or the then-current owner’s) facility, Purchaser will either ship the original Product back to Romeo or dispose of the
original Product, in each case as Romeo instructs and at Romeo’s sole expense. 

  
 2 

  
 

 
 If Romeo rejects the warranty claim, it shall promptly so notify Purchaser in writing, which notice
explains why Romeo rejected such claim. If the Product is at Romeo’s facility, Romeo will either ship the Product back to Purchaser (or, if Purchaser requests, to the then-current owner) or dispose of the Product, in each case as the Purchaser
instructs and at Purchaser’s sole expense. 
 This Section 3 of this Warranty sets forth Romeo’s only obligation and
liability and Purchaser’s sole and exclusive remedy for any breach of this Warranty. 
 4.    NO ASSIGNMENT

 Purchaser acknowledges that this Warranty is personal to Purchaser and may not be assigned or otherwise transferred by Purchaser. 

  
 3 

	SCHEDULE 7	 Product warranties 

  
 39

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