SEC Contract Filing

Filing Date: 2021-03-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>ea138279ex10-1_nuvvehold.htm
<DESCRIPTION>INDEMNIFICATION ESCROW AGREEMENT
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS SHARE ESCROW
AGREEMENT </B>(&ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of March 19, 2021, by and among NB Merger Corp., a Delaware
corporation (&ldquo;<U>Purchaser</U>&rdquo;), Ted Smith, an individual (the &ldquo;<U>Stockholder Representative</U>&rdquo;) and
Continental Stock Transfer &amp; Trust Company, a New York corporation (the &ldquo;<U>Escrow Agent</U>&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: center; text-indent: 0.5in"><B>BACKGROUND</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. &nbsp;Purchaser
and the Stockholder Representative have entered into a Merger Agreement, dated as of November 11, 2020 (the &ldquo;<U>Merger Agreement</U>&rdquo;),
pursuant to which, among other things, Nuvve Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of the Purchaser,
will merge with and into Nuvve Corporation, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;). The Merger Agreement provides
that the Purchaser shall deposit the Escrow Shares (as defined below) with the Escrow Agent to serve as security for and a source
of payment with respect to the Purchaser Indemnified Parties&rsquo; (as defined in the Merger Agreement) rights to indemnification
under Article X of the Merger Agreement.</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.&nbsp;The
Escrow Agent has agreed to accept, hold and disburse the Escrow Shares in accordance with the terms of this Agreement.</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 foregoing and of the mutual covenants hereinafter set forth, the parties hereto 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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.75pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify"><U>Appointment</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 80.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;The
Purchaser and the Stockholder Representative hereby appoint the Escrow Agent to serve as escrow agent for the purposes set forth
herein, and the Escrow Agent hereby accepts such appointment under the terms and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;All
capitalized terms with respect to the Escrow Agent shall be defined herein. The Escrow Agent shall act only in accordance with
the terms and conditions contained in this Agreement and shall have no duties or obligations with respect to the Merger Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.75pt"></TD><TD STYLE="width: 18pt">2.</TD><TD STYLE="text-align: justify"><U>Escrow Shares</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.75pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&#9;Simultaneously
with the execution and delivery of this Agreement, Purchaser shall deposit in escrow 912,297 shares of its common stock (the &ldquo;<U>Escrow
Shares</U>&rdquo;) with the Escrow Agent. &#9; The Escrow Agent shall hold the Escrow Shares as a book-entry position registered
in the name of &ldquo;Continental Stock Transfer &amp; Trust Company as Escrow Agent&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&#9;During the term
of this Agreement, neither the Stockholders Representative nor the Purchaser shall have the right to exercise any voting rights
with respect to any of the Escrow Shares. With respect to any matter for which the Escrow Shares are permitted to