SEC Contract Filing

Filing Date: 2024-12-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>5
<FILENAME>ea022566801ex10-8_freyrbat.htm
<DESCRIPTION>IP LICENSE AGREEMENT BY AND BETWEEN TRINA SOLAR CO., LTD. AND FREYR BATTERY, INC., DATED OF DECEMBER 23, 2024
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IP LICENSE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This <B>IP LICENSE AGREEMENT</B>
(the &ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into as of December 23, 2024 (the &ldquo;<B><I>Effective Date</I></B>&rdquo;),
by and between Trina Solar Co., Ltd. (&ldquo;<B><I>TCZ</I></B>&rdquo; or &ldquo;<B><I>Licensor</I></B>&rdquo;) and FREYR Battery, Inc.
(&ldquo;<B><I>FREYR</I></B>&rdquo; or &ldquo;<B><I>Licensee</I></B>&rdquo;). Licensor and Licensee are each a &ldquo;<B><I>Party</I></B>&rdquo;
and, collectively, the &ldquo;<B><I>Parties</I></B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Trina Solar
(Schweiz) AG, an entity organized under the Laws of Switzerland (&ldquo;<B><I>TSW</I></B>&rdquo;), an indirect subsidiary of TCZ, and
FREYR, a Delaware corporation and, following Closing (as defined below), an Affiliate of Trina Solar US Manufacturing Module 1, LLC (&ldquo;<B><I>TUM
1</I></B>&rdquo;), entered into that certain Transaction Agreement dated November 6, 2024 (the &ldquo;<B><I>Transaction Agreement</I></B>&rdquo;),
and, as a result of the transactions contemplated in the Transaction Agreement, TUM 1 will no longer be an indirect subsidiary of TSW
and will become an indirect subsidiary of FREYR upon the closing of the transactions contemplated in the Transaction Agreement (the &ldquo;<B><I>Closing</I></B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS,</B> in connection
with the Transaction Agreement, the Parties have agreed that Licensee and its Affiliates and Sublicensees will have rights to certain
Intellectual Property and Materials in accordance with and subject to the terms set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,</B> in
consideration of the terms and conditions set forth below, and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged and agreed by both Parties, and intending to be legally bound hereby, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
I<U><BR>
OVERVIEW; DEFINITIONS AND INTERPRETATION</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.1 <U>Overview</U>.
The Parties acknowledge that they are entering into this Agreement simultaneously with Amendment No. 1 to that certain Intellectual Property
License Agreement dated July 16, 2024 by and between Licensor and TUM 1 (as amended, the &ldquo;<B><I>Amended IP License Agreement</I></B>&rdquo;)
so that, immediately after the Effective Date, TUM 1 (which as of the Effective Date will be an indirect, wholly owned subsidiary of Licensee)
has rights to Licensed IP directly under the Amended IP License Agreement and through a Sublicense Agreement by Licensee to TUM 1 under
this Agreement (the &ldquo;<B><I>IP Sublicense Agreement</I></B>&rdquo;). At any time after the first anniversary of the Effective Date,
either Party to this Agreement may notify the other Party that it wishes to amend and restate the Amended IP License Agreement to reflect
the terms herein and to terminate this Agreement, and if agreed upon in writing by the Parties and TUM 1, the Parties will negotiate in
good faith, on behalf of themselves and their Affiliates, to prepare and finalize such amended and restated agreement, provided that neither
Party, TUM 1, and no other Affiliate of any Party is obligated to enter into any amended and restated agreement (and, in connection therewith,
terminate this Agreement) unless agreed in writing by the Parties and TUM 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.2 <U>Definitions</U>.
As used in this Agreement, the following terms have the respective meanings set forth below.</P>

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