SEC Contract Filing

Filing Date: 2022-11-22

Document Content:
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<TYPE>EX-10.3
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<FILENAME>d413456dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Execution Version </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">November 22,
2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CIIG Capital Partners II, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">40 West 57th Street
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">29th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10019 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Re: <U>Initial Public Offering and Merger Agreement</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter (this
&#147;<B><I>Letter Agreement</I></B>&#148;) is being delivered to you in accordance with the Agreement and Plan of Merger (together with the exhibits and schedules thereto, as amended, supplemented or otherwise modified from time to time, the
&#147;<B><I>Merger Agreement</I></B>&#148;) dated as of the date hereof, by and among CIIG Capital Partners II, Inc., a Delaware corporation (&#147;<B><I>SPAC</I></B>&#148;), Zapp Electric Vehicles Limited, a private company limited by shares
registered in England and Wales with registered number 10870546, and having its registered office at 5 Technology Park, Colindeep Lane, England, London NW9 6BX (the &#147;<B><I>Company</I></B>&#148;), Zapp Electric Vehicles Group Limited, an
exempted company incorporated with limited liability under the laws of the Cayman Islands (&#147;<B><I>Pubco</I></B>&#148;) and Zapp Electric Vehicles, Inc., a Delaware corporation and direct, wholly owned subsidiary of Pubco (&#147;<B><I>Merger
Sub</I></B>&#148;), and hereby amends and restates in its entirety that certain letter agreement, dated as of September&nbsp;14, 2021 from CIIG Management II LLC (the &#147;<B><I>Sponsor</I></B>&#148;), and each of the undersigned Persons (each such
other undersigned Person, an &#147;<B><I>Insider</I></B>&#148; and collectively, the &#147;<B><I>Insiders</I></B>&#148;; <U>provided</U>, that, the Anchor Investors shall not be considered Insiders pursuant to the terms of this Letter Agreement) to
SPAC (the &#147;<B><I>Prior Letter Agreement</I></B>&#148;). Certain capitalized terms used herein are defined in <U>paragraph 10</U> hereof. Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such
terms in the Merger Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order to induce SPAC, the Company, Pubco and Merger Sub to enter into the Merger Agreement and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Sponsor and each of the Insiders, hereby severally (and not jointly and severally) agrees with SPAC, and at all times prior to any valid termination
of the Merger Agreement, the Company, Pubco and Merger Sub, as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B> <B><U>Approval of Transactions</U></B><B>.</B> The
Sponsor and each Insider hereby unconditionally and irrevocably agrees: (i)&nbsp;that at any duly called meeting of the stockholders of SPAC (or any adjournment or postponement thereof), and in any action by written consent or approval of the
stockholders of SPAC requested by the SPAC&#146;s board of directors or to be undertaken as contemplated by or in connection with the Transactions, the Sponsor and each such Insider shall, if a meeting is held, appear at the meeting, in person or by
proxy, or otherwise cause all of its Shares to be counted as present thereat for purposes of establishing a quorum, and it shall vote or consent (or cause to be voted or consented), in person, in writing or by proxy, all of its Shares (a)&nbsp;in
favor of the adoption of the Merger Agreement and approval of the Transactions and all other SPAC Stockholder Matters (and any actions required in furtherance thereof), (b) against any action, proposal, transaction or agreement that would result in
a breach of any representation, warranty, covenant, obligation or agreement of SPAC contained in the Merger Agreement, (c)&nbsp;in favor of any other proposals set forth in SPAC&#146;s proxy statement to be filed by the SPAC with the U.S. Securities
and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) relating to the Transactions (including any proxy supplements thereto, the &#147;<B><I>Proxy Statement</I></B>&#148;), (d) for any proposal to adjourn or postpone the applicable
stockholder meeting to a later date if (and only if) there are not </P>
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sufficient votes for approval of the Merger Agreement and any other proposals related thereto, as set forth in the Proxy Statement, on the dates on which such meetings are held and
(e)&nbsp;against the following actions or proposals: (1)&nbs