November 30, 2020 The Lion Electric Company 921, chemin de la Rivière-du-Nord Saint-Jérôme, Québec J7Y 5G2 Re: Lock-Up AgreementLock-Up Agreement • December 31st, 2020 • Lion Electric Co
This letter (this “Letter Agreement”) is being delivered to you by the undersigned (the “Securityholder”) in accordance with the Business Combination Agreement and Plan of Reorganization (the “BCA”) entered into by and among The Lion Electric Company, a corporation existing under the Business Corporations Act (Québec) (the “Company”), Lion Electric Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Northern Genesis Acquisition Corp., a Delaware corporation (“NGA”), pursuant to which, among other things, Merger Sub will be merged with and into NGA (the “Merger”), with NGA surviving the Merger as a wholly owned subsidiary of the Company.
