Hi Rob,
L2 and L1 go to the VFD (labeled inverter on the drawing). The inverter converts single phase 240 VAC to three phase 0-240 VAC for the motor.
As there is a 120 VAC 6-15 outlet (for a work light perhaps?), you need to bring in L1, L2, Neutral, and Safety Ground. You MUST bring in the...