Exhibit 4.1


 


WARRANT AGREEMENT


 


THIS WARRANT AGREEMENT (this
“Agreement”), dated as of October 18, 2021, is by and between Enterprise 4.0 Technology Acquisition Corp., a
Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York
limited purpose trust company, as warrant agent (the “Warrant Agent”, also referred to herein as the
“Transfer Agent”).


 


WHEREAS, the Company is
engaged in an initial public offering (the “Offering”) of units of the Company’s equity securities, each such
unit comprised of one Ordinary Share (as defined below) and one-half of one redeemable Public Warrant (as defined below) (the “Public
Units”) and, in connection therewith, has determined to issue and deliver up to 13,050,000 warrants (or up to 15,007,500 warrants
if the Over-allotment Option is exercised in full) to public investors in the Offering (the “Public Warrants”). Each
whole Warrant entitles the holder thereof to purchase one Class A Ordinary Share of the Company, par value $0.0001 per share (“Ordinary
Shares”), for $11.50 per share, subject to adjustment as described herein; and


 


WHEREAS, in order to fund the trust account in connection
with the Company’s initial public offering, the Sponsor has agreed to loan to the Company $5,440,000 (or up to $6,223,000 if the
Over-allotment Option (as defined below) is exercised in full), which may be convertible into units, each unit consisting of one share
of Common Stock and one-half of one warrant, such warrants bearing the legend set forth in Exhibit B hereto (“Sponsor Loan
Warrants”), at a purchase price of $10.00 per unit; and


 


WHEREAS, on October 18,
2021, 2021, the Company entered into that certain Units Subscription Agreement with ENT 4.0 Technology Sponsor LLC, a Cayman Islands
limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 600,000
Units (the “Sponsor Private Placement Units”) simultaneously with the closing of the Offering at a purchase price
of $10.00 per Unit and in connection therewith, will issue and deliver up to an aggregate of 300,000 warrants bearing the legend set
forth in Exhibit B hereto (“Sponsor Private Placement Warrants”); and


 


WHEREAS, on October 18, 2021, the Company entered into
that certain Units Subscription Agreement with the representatives of the underwriters in the Offering (the “Representatives”),
pursuant to which the Representatives agreed to purchase an aggregate of 100,000 Units (the “Representative Private Placement
Units” and, together with the Sponsor Private Placement Units, the “Private Placement Units”, the Sponsor
Private Placement Units and Representative Private Placement Units, together with the Public Units, the “Units”) simultaneously
with the closing of the Offering at a purchase price of $10.00 per Unit and in connection therewith, will issue and deliver up to an aggregate
of 50,000 warrants bearing the legend set forth in Exhibit C hereto (“Representative Private Placement Warrants” and, with
the Sponsor Private Placement Warrants, collectively, the “Private Placement Warrants”); and


 


WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below), the
Sponsor or an affiliate of the Sponsor or certain of the Company’s office rs and directors may, but are not obligated to, loan
the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional
150,000 Units at a price of $10.00 per Unit and in connection therewith, will issue and deliver up to an aggregate of 75,000
warrants (the “Working Capital Warrants” and, together with the Private Placement Warrants, Sponsor Loan Warrants
and the Public Warrants, collectively, the “Warrants”); and


 


WHEREAS, the Company has filed with the Securities and Exchange
Commission (the “Commission”) a registration statement on Form S-1, File Nos. 333-259773 and 333-260344 (the “Registration
Statement”) and prospectus (the “Prospectus”), for the registration, under the Securities Act of 1933, as
amended (the “Securities Act”), of the Public Units and the Public Warrants and the Ordinary Shares included in the
Public Units; and


 


WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the
issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and


 


WHEREAS, the Company desires to provide for
the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and


 






     


     


    

 


WHEREAS, all acts and things have been done and performed
which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant Agent,
as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.


 


NOW, THEREFORE, in consideration of the mutual agreements
herein contained, the parties hereto agree as follows:


 


ARTICLE
I. APPOINTMENT OF WARRANT AGENT


 


The Company hereby appoints the Warrant
Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the
same in accordance with the terms and conditions set forth in this Agreement.


 


ARTICLE
II. 

WARRANTS


 


Section 2.01 Form of Warrant. Each Warrant shall be issued
in registered form only.


 


Section 2.02 Effect of Countersignature. If a physical
certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and
of no effect and may not be exercised by the holder thereof.


 


Section 2.03 Registration.


 


(a) Warrant Register. The Warrant Agent shall maintain
books (the “Warrant Register”), for the registration of original issuance and the registration of transfer of the Warrants.
Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the Warrants in the names of the respective holders
thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of
beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained
by institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution, with respect
to a Warrant in its account, a “Participant”).


 


If the Depositary subsequently ceases to make
its book-entry settlement system available for the Public Warrants, the Company may instruct the Warrant Agent regarding making
other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer
necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the
Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the
Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants which shall be in the
form annexed hereto as Exhibit A.


 


Physical certificates, if issued, shall be signed by,
or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer, President, Chief Operating Officer, Chief Financial
Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any
Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued
with the same effect as if he or she had not ceased to be such at the date of issuance.


 


(b) Registered Holder. Prior to due presentment for registration
of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant is registered
in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented
thereby (notwithstanding any notation of ownership or other writing on any physical certificate made by anyone other thanthe Company
or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent
shall be affected by any notice to the contrary.


 






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Section 2.04 Detachability of Warrants. The Ordinary
Shares and Public Warrants comprising the Public Units shall begin separate trading on the 52nd day following the date of the Prospectus
or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally
open for normal business (a “Business Day”), then on the immediately succeeding Business Day following such date, or earlier
(the Detachment Date”) with the consent of Cantor Fitzgerald & Co., and Mizuho Securities USA LLC, as representatives of the
several underwriters, but in no event shall the Ordinary Shares and the Public Warrants comprising the Public Units be separately traded
until (A) the Company has filed a current report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt
by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the underwriters
of their right to purchase additional Public Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option
is exercised simultaneously with the initial closing of the Offering, and (B) the Company issues a press release and files with the Commission
a current report on Form 8-K announcing when such separate trading shall begin.


 


Section 2.05 No Fractional Warrants Other Than as Part
of Units. The Company shall not issue fractional Warrants other than as part of Units, each of which is comprised of one share of
Ordinary Shares and one-half of one redeemable Public Warrant. If, upon the detachment of Public Warrants from Public Units or otherwise,
a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number
of Warrants to be issued to such holder.


 


Section 2.06 Private Placement Warrants, Sponsor Loan Warrants
and Working Capital Warrants.


 


(a) The Private Placement Warrants, Sponsor Loan Warrants and the
Working Capital Warrants shall be identical to the Public Warrants, except that, the Private Placement Warrants, the Sponsor Loan
Warrants and the Working Capital Warrants may not be transferred, assigned or sold until thirty (30) days after the completion by
the Company of an initial Business Combination (as defined below); provided, however, that the Private Placement
Warrants, Sponsor Loan Warrants and the Working Capital Warrants and any Ordinary Shares held by either the Sponsor or any officers
or directors of the Company or any Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants,
Sponsor Loan Warrants and the Working Capital Warrants may be transferred by the holders thereof:


 


(i) to the Company’s officers, directors or advisors, any
affiliates or family members of any of the Company’s officers, directors or advisors, any member(s) of the Sponsor or any
affiliates of the Sponsor;


 


(ii) in the case of an individual, by gift to a member
of the individual’s immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family,
or an affiliate of such person, or to a charitable organization;


 


(iii) in the case of an individual, by virtue of
laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic
relations order; (v) by private sales or transfers made in connection with the consummation of the Company’s initial Business
Combination at prices no greater than the price at which the Private Placement Warrants were originally purchased;


 


(vi) in the event of the Company’s liquidation
prior to the completion of the Company’s initial Business Combination;


 


(vii) by virtue of the Sponsor’s limited liability company
agreement upon dissolution of the Sponsor; or


 


(viii) subsequent to the completion of the Company’s
initial Business Combination, in the event of the Company’s liquidation, merger, share capital exchange, reorganization or other
similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash,
securities or other property;


 


provided, however, that, in the
case of clauses (i) through (viii), these transferees (the “Permitted Transferees”) must enter into a written
agreement agreeing to be bound by the transfer restrictions in this Agreement.


 






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ARTICLE III.


TERMS AND EXERCISE OF WARRANTS


 


Section 3.01 Warrant Price. Each Warrant shall,
when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this
Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share, subject to the
adjustments provided in Article IV hereof and in the last sentence of this Section 3.01. The term “Warrant Price”
as used in this Agreement shall mean the price per share at which Ordinary Shares may be purchased at the time a Warrant is exercised.
The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period
of not less than twenty (20) Business Days; provided, that (i) the Company shall provide at least three (3) Business Days’
prior written notice of such reduction to Registered Holders of the Warrants and (ii) that any such reduction shall be identical among
all of the Warrants.


 


Section 3.02 Duration of Warrants. A Warrant may be
exercised only during the period (the “Exercise Period”) commencing on the date that is thirty (30) days after
the first date on which the Company completes a merger, share capital exchange, asset acquisition, share purchase, reorganization or
similar business combination, involving the Company and one or more businesses (a “Business Combination”) and
terminating at 5:00 p.m., New York City time, on the earlier to occur of: (w) the date that is five (5) years after the date on
which the Company completes its Business Combination, (x) the liquidation of the Company in accordance with the Company’s
amended and restated memorandum and articles of association, as amended from time to time, if the Company fails to complete a
Business Combination, (y) the Redemption Date (as defined below) as provided in Section 6.03 hereof (the “Expiration
Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable
conditions, as set forth in subsection 3.03(b) below with respect to an effective post-effective amendment to the
Registration Statement or an effective new registration statement. Except with respect to the right to receive the Redemption Price
(as defined below) in the event of a redemption (as set forth in Article VI hereof), each outstanding Warrant not exercised
on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement
shall cease at 5:00 p.m., New York City time, on the Expiration Date. The Company in its sole discretion may extend the duration of
the Warrants by delaying the Expiration Date; provided, that (1) the Company shall provide at least twenty (20) days’
prior written notice of any such extension to Registered Holders of the Warrants and (2) that any such extension shall be identical
in duration among all the Warrants.


 


Section 3.03 Exercise of Warrants.


 


(a) Payment. Subject to the provisions of the Warrant and
this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the Registered Holder thereof by
surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of
Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by paying in full
the Warrant Price for each full share of Ordinary Shares as to which the Warrant is exercised and any and all applicable taxes due
in connection with the exercise of the Warrant, the exchange of the Warrant for the Ordinary Shares and the issuance of such
Ordinary Shares, as follows: (i) in lawful money of the United States, in good certified check or good bank draft payable to the
Warrant Agent; (ii) in the event of a redemption pursuant to Article VI hereof in which the Company’s board of
directors (the “Board”) has elected to require all holders of the Warrants to exercise such Warrants on a
“cashless basis,” by surrendering the Warrants for that number of Ordinary Shares equal to the quotient obtained by
dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the difference between the Warrant
Price and the “Fair Market Value”, as defined in this subsection 3.03(a)(ii) by (y) the Fair Market Value. Solely
for purposes of this subsection 3.03(a)(ii) and Section 6.04, the “Fair Market Value” shall mean the
average reported last sale price of the Ordinary Shares for the ten (10) trading days ending on the third trading day prior to the
date on which the notice of redemption is sent to the holders of the Warrants pursuant to Article VI hereof; or


 


(iii) as provided in Section 7.04 hereof.


 






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(b) Issuance of Ordinary Shares on Exercise.
As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment
is pursuant to subsection 3.03(a)(i)), the Company shall issue to the Registered Holder of such Warrant a book-entry position
or certificate, as applicable, for the number of full Ordinary Shares to which he, she or it is entitled, registered in such name or
names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or
countersigned Warrant, as applicable, for the number of Ordinary Shares as to which such Warrant shall not have been exercised.
Notwithstanding the foregoing, the Company shall not be obligated to deliver any Ordinary Shares pursuant to the exercise of a
Warrant and shall have no obligation to settle such Warrant exercise unless a post- effective amendment to the Registration
Statement or a new registration statement under the Securities Act with respect to the Ordinary Shares underlying the Warrants is
then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section
7.04. No Warrant shall be exercisable and the Company shall not be obligated to issue Ordinary Shares upon exercise of a Warrant
unless the Ordinary Shares issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt from
registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants. In the
event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such
Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the
purchaser of a Unit containing such Warrants shall have paid the full purchase price for the Unit solely for the Ordinary Shares
underlying such Unit. The Company may require holders of Warrants to settle the Warrant on a “cashless basis” pursuant
to Section 7.04. If, by reason of any exercise of warrants on a “cashless basis”, the holder of any Warrant would
be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of Ordinary Shares, the Company shall
round down to the nearest whole number, the number of Ordinary Shares to be issued to such holder.


 


(c) Valid Issuance. All Ordinary Shares issued upon
the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and non-assessable.


 


(d) Date of Issuance. Each person in whose name
any book-entry position or certificate, as applicable, for Ordinary Shares is issued shall for all purposes be deemed to have become the
holder of record of such Ordinary Shares on the date on which the Warrant, or book-entry position representing such Warrant, was surrendered
and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant,
except that, if the date of such surrender and payment is a date when the share transfer books of the Company or book-entry system of
the Warrant Agent are closed, such person shall be deemed to have become the holder of such Ordinary Shares at the close of business on
the next succeeding date on which the share transfer books or book-entry system are open.


 


(e) Maximum Percentage. A holder of a
Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection
3.03(e); however, no holder of a Warrant shall be subject to this subsection 3.03(e) unless he, she or it makes such
election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and
such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person
and any of its affiliates or any other person subject to aggregation with such person for purposes of the “beneficial
ownership” test under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or any “group” (within the meaning of Section 13 of the Exchange Act) of which such person is or may be deemed to be a
part, would beneficially own (within the meaning of Section 13 of the Exchange Act) (or to the extent that for any reason the
equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder would result in a higher
ownership percentage, such higher percentage would be) in excess of 9.8% (as specified by the holder) (the “Maximum
Percentage”) of the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the
foregoing sentence, the aggregate number of Ordinary Shares beneficially owned by such person and its affiliates or any such other
person or group shall include the number of Ordinary Shares issuable upon exercise of the Warrant with respect to which the
determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable upon (x) exercise of the
remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of
the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates
(including, without limitation, any convertible notes or convertible preferred shares or warrants) subject to a limitation on
conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of
this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act. For purposes of the
Warrant, in determining the number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary Shares
as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on
Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3)
any other notice by the Company or the Transfer Agent setting forth the number of Ordinary Shares outstanding. For any reason at any
time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in
writing to such holder the number of Ordinary Shares then outstanding. In any case, the number of outstanding Ordinary Shares shall
be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates
since the date as of which such number of outstanding Ordinary Shares was reported. By written notice to the Company, the holder of
a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage
specified in such notice; provided, however, that any such increase shall not be effective until the 61st day after
such notice is delivered to the Company.


 






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ARTICLE
IV. 

ADJUSTMENTS


 


Section 4.01 Share Dividends.


 


(a) Split-Ups. If after the date hereof, and
subject to the provisions of Section 4.06 below, the number of outstanding Ordinary Shares is increased by a share dividend
payable in Ordinary Shares, or by a split-up of Ordinary Shares or other similar event, then, on the effective date of such share
dividend, split-up or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in
proportion to such increase in the outstanding Ordinary Shares. A rights offering to holders of the Ordinary Shares entitling
holders to purchase Ordinary Shares at a price less than the “Fair Market Value” (as defined below) shall be deemed a
share dividend of a number of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in such rights
offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for
the Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Ordinary Shares paid in such rights
offering divided by (y) the Fair Market Value. For purposes of this subsection 4.01(a), (i) if the rights offering is for
securities convertible into or exercisable for Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be
taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion
and (ii) “Fair Market Value” means the volume weighted average price of the Ordinary Shares as reported during the ten
(10) trading day period ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable
exchange or in the applicable market, regular way, without the right to receive such rights.


 


(b) Extraordinary Dividends. If the Company,
at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or
other assets to the holders of the Ordinary Shares on account of such Ordinary Shares (or other shares of the Company’s share
capital into which the Warrants are convertible), other than (i) as described in subsection 4.01(a) above, (ii) Ordinary Cash
Dividends (as defined below), (iii) to satisfy the redemption rights of the holders of the Ordinary Shares in connection with a
proposed initial Business Combination, (iv) to satisfy the redemption rights of the holders of Ordinary Shares in connection with a
shareholder vote to amend the Company’s amended and restated memorandum and articles of association to modify the substance or
timing of the Company’s obligation to redeem 100% of the Ordinary Shares included in the Public Units sold in the Offering if
the Company does not complete the Business Combination within the time period set forth in the Company’s amended and restated
memorandum and articles of association, or (v) in connection with the redemption of the Ordinary Shares included in the Public Units
sold in the Offering upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of
its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such
Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any
securities or other assets paid on each share of Ordinary Shares in respect of such Extraordinary Dividend. For purposes of this subsection
4.01(b), “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per
share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Ordinary Shares during the
365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the
events referred to in other subsections of this Article IV and excluding cash dividends or cash distributions that resulted
in an adjustment to the Warrant Price or to the number of Ordinary Shares issuable on exercise of each Warrant) does not exceed
$0.50 (being 5% of the offering price of the Public Units in the Offering).


 


Section 4.02 Aggregation of Shares. If after
the date hereof, and subject to the provisions of Section 4.06 hereof, the number of outstanding Ordinary Shares is decreased by a
consolidation, combination, reverse share split or reclassification of Ordinary Shares or other similar event, then, on the
effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of Ordinary
Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding Ordinary Shares.


 






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Section 4.03 Adjustments in Exercise Price.


 


(a) Whenever the number of Ordinary Shares purchasable
upon the exercise of the Warrants is adjusted, as provided in subsection 4.01(a) or Section 4.02 above, the Warrant Price
shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator
of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and
(y) the denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter.


 


(b) If, (x) the Company issues additional
Ordinary Shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business
Combination at an issue price or effective issue price of less than $9.20 per share of Ordinary Shares (with such issue price or
effective issue price to be determined in good faith by the Board, and, in the case of any such issuance to the Sponsor or its
affiliates, without taking into account any Ordinary Shares or Private Placement Units issued prior to the Offering and held by the
Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate
gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the
funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions)
and (z) the volume weighted average trading price of Ordinary Shares during the 20 trading day period starting on the trading day
prior to the day on which the Company consummates the initial Business Combination (such price, the “Market
Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the
higher of the Market Value and the Newly Issued Price, and the last sales price of the Ordinary Shares that triggers the
Company’s right to redeem the Warrant pursuant to Section 6.01 below shall be adjusted (to the nearest cent) to be
equal to 180% of the higher of the Market value and the Newly Issued Price.


 


Section 4.04 Replacement of Securities upon Reorganization,
etc. In case of any reclassification or reorganization of the issued and outstanding Ordinary Shares (other than a change under
subsections 4.01(a) or 4.01(b) or Section 4.02 hereof or that solely affects the par value of such Ordinary
Shares), or in the case of any merger or consolidation of the Company with or into another entity or conversion of the Company as
another entity (other than a consolidation or merger in which the Company is the continuing corporation and is not a subsidiary of
another entity whose shareholders did not own all or substantially all of the Ordinary Shares of the Company in substantially the
same proportions immediately before such transaction and that does not result in any reclassification or reorganization of the
issued and outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or
other property of the Company as an entirety or substantially as an entirety, in connection with which the Company is liquidated or
dissolved , the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms
and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and
receivable upon the exercise of the rights represented thereby, the kind and amount of shares or other securities or property
(including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any
such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s)
immediately prior to such event (the “Alternative Issuance”); provided, however, that if the
holders of the Ordinary Shares were entitled to exercise a right of election as to the kind or amount of securities, cash or other
assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the
Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and
amount received per share by the holders of the Ordinary Shares in such consolidation or merger that affirmatively make such
election; provided further that if less than 70% of the consideration receivable by the holders of the Ordinary Shares in the
applicable event is payable in the form of capital stock or shares in the successor entity that is listed for trading on a national
securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately
following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public
disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the
Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference (but in no event less than zero) of
(i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no
event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant
Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the
Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”) as calculated
by an accounting, appraisal, investment banking firm or consultant of nationally recognized standing that is, in the good faith
judgment of the Board, qualified to make such calculation. For purposes of calculating such amount, (1) Article VI of this
Agreement shall be taken into account, (2) the price of each Ordinary Share shall be the volume weighted average price of the
Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the
applicable event, and (3) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the
remaining term of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of the
Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary Share, and (ii) in all other cases, the volume
weighted average price of the Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to
the effective date of the applicable event. If any reclassification or reorganization also results in a change in Ordinary Shares
covered by Section 4.01or 4.02, then such adjustment shall be made pursuant to Section 4.01 or Sections 4.02, 4.03
and this Section 4.04. The provisions of this Section 4.04 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the
par value per Ordinary Share issuable upon exercise of the Warrant.


 






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Section 4.05 Notices of Changes in Warrant.
Upon every adjustment of the Warrant Price or the number of Ordinary Shares issuable upon exercise of a Warrant, the Company shall
give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the
increase or decrease, if any, in the number of Ordinary Shares purchasable at such price upon the exercise of a Warrant, setting
forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any
event specified in Sections 4.01, 4.02, 4.03 or 4.04, the Company shall give written notice of the
occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the
record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or
validity of such event.


 


Section 4.06 No Fractional Shares. Notwithstanding
any provision contained in this Agreement to the contrary, the Company shall not issue fractional Ordinary Shares upon the exercise of
Warrants. If, by reason of any adjustment made pursuant to this Article IV, the holder of any Warrant would be entitled, upon the
exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest
whole number the number of Ordinary Shares to be issued to such holder.


 


Section 4.07 Form of Warrant. The form of Warrant
need not be changed because of any adjustment pursuant to this Article IV, and Warrants issued after such adjustment may state
the same Warrant Price and the same number of Ordinary Shares as is stated in the Warrants initially issued pursuant to this Agreement;
provided, however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the
Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.


 


Section 4.08 Other Events. In case any event shall
occur affecting the Company as to which none of the provisions of the preceding subsections of this Article IV are strictly applicable,
but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate
the intent and purpose of this Article IV, then, in each such case, the Company shall appoint a firm of independent public accountants,
investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment
to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Article IV and, if they determine
that an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the
Warrants be adjusted pursuant to this Section 4.08 as a result of any issuance of securities in connection with a Business Combination.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. For
the avoidance of doubt, all adjustments made pursuant to this Section 4.08 shall be made equally to all outstanding warrants.


 


ARTICLE V.


TRANSFER AND EXCHANGE OF WARRANTS


 


Section 5.01 Registration of Transfer. The
Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of
such Warrant for transfer, in the case of certificated warrants, properly endorsed with signatures properly guaranteed and accompanied
by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall
be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated warrants, the Warrants so cancelled
shall be delivered by the Warrant Agent to the Company from time to time upon request.


 






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Section 5.02 Procedure for Surrender of Warrants.
Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer, and thereupon the Warrant
Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered,
representing an equal aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for
transfer bears a restrictive legend (as in the case of the Private Placement Warrants and the Sponsor Loan Warrants), the Warrant Agent
shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for
the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.


 


Section 5.03 Fractional Warrants. The Warrant Agent
shall not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or
book-entry position for a fraction of a warrant, except as part of the Units.


 


Section 5.04 Service Charges. No service charge shall
be made for any exchange or registration of transfer of Warrants.


 


Section 5.05 Warrant Execution and Countersignature.
The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required
to be issued pursuant to the provisions of this Article V, and the Company, whenever required by the Warrant Agent, shall supply
the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.


 


Section 5.06 Transfer of Warrants. Prior to
the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which such Warrant is
included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each
transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit.
Notwithstanding the foregoing, the provisions of this Section 5.06 shall have no effect on any transfer of Warrants on and
after the Detachment Date.


 


ARTICLE
VI. REDEMPTION


 


Section 6.01 Redemption of Warrants for Cash. Not
less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior
to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section
6.03 below, at the price of $0.01 per Warrant (the “Redemption Price”); provided that the last sales price of
the Ordinary Shares reported has been at least $18.00 per share (subject to adjustment in compliance with Article IV hereof), on
each of twenty (20) trading days within the thirty (30) trading-day period ending on the third Business Day prior to the date on which
notice of the redemption is given and provided that there is an effective post-effective amendment to the Registration Statement or an
effective new registration statement covering the Ordinary Shares issuable upon exercise of the Warrants, and a current prospectus relating
thereto, available throughout the 30-day Redemption Period (as defined in Section 6.03 below) or the Company has elected to require
the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.03(a); provided, however,
that if and when the Warrants become redeemable by the Company, the Company may not exercise such redemption right if the issuance of
Ordinary Shares upon exercise of the Warrants is not exempt from registration or qualification under applicable state blue sky laws or
the Company is unable to effect such registration or qualification.


 


Section 6.02 [Intentionally omitted].


 


Section 6.03 Date Fixed
for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section
6.01, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be
mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the
“30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as
they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have
been duly given whether or not the Registered Holder received such notice.


 






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Section 6.04 Exercise After Notice of Redemption.
The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with subsection 3.03(a)(ii) of this
Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.03 hereof and prior
to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless
basis” pursuant to subsection 3.03(a)(ii), the notice of redemption shall contain the information necessary to calculate
the number of Ordinary Shares to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term
is defined in subsection 3.03(a)(ii) hereof) in such case. On and after the Redemption Date, the record holder of the Warrants shall have
no further rights except to receive, upon surrender of the Warrants, the Redemption Price.


 


ARTICLE VII.


OTHER PROVISIONS RELATING TO
RIGHTS OF HOLDERS OF WARRANTS


 


Section 7.01 No Rights as Shareholder. A
Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the Company, including, without limitation,
the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as
a shareholder in respect of the meetings of shareholders or the election of directors of the Company or any other matter.


 


Section 7.02 Lost, Stolen, Mutilated, or Destroyed
Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity
or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof),
issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant
shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed
Warrant shall be at any time enforceable by anyone.


 


Section 7.03 Reservation of Ordinary Shares. The
Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares that shall be sufficient
to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.


 


Section 7.04 Registration of Ordinary Shar es;
Cashless Exercise at Company’s Option.


 


(a) Registration of the Ordinary Shares. The
Company agrees that as soon as practicable, but in no event later than twenty (20) days after the closing of its initial Business
Combination, it shall use its commercially reasonable best efforts to file with the Commission a post-effective amendment to the
Registration Statement or a new registration statement for the registration, under the Securities Act, of the Ordinary Shares
issuable upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become
effective and to maintain the effectiveness of such post-effective amendment or a new registration statement, and a current
prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such
post-effective amendment or new registration statement has not been declared effective by the 60th day following the closing of the
Business Combination, holders of the Warrants shall have the right, during the period beginning on the 61st day after the closing of
the Business Combination and ending upon such post-effective amendment or new registration statement being declared effective by the
Commission, and during any other period when the Company shall fail to have maintained an effective post-effective amendment or an
effective new registration statement covering the Ordinary Shares issuable upon exercise of the Warrants, to exercise such Warrants
on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any
successor rule) or another exemption) for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product
of the number of Ordinary Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair
Market Value” (as defined below) by (y) the Fair Market Value. Solely for purposes of this subsection 7.04(a),
“Fair Market Value” shall mean the volume weighted average price of the Ordinary Shares as reported during the ten (10)
trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the
holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is received by the
Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a
Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an
outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance
with this subsection 7.04(a) is not required to be registered under the Securities Act and (ii) the Ordinary Shares issued
upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such
term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company and, accordingly, shall not be required
to bear a restrictive legend. Except as provided in subsection 7.04(b), for the avoidance of any doubt, unless and until all
of the Warrants have been exercised, the Company shall continue to be obligated to comply with its registration obligations under
the first three sentences of this subsection 7.04(a).


 






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(b) Cashles s E xer cise a t Co mp an y’ s
Op tio n . If the Ordinary Shares at the time of any exercise of a Warrant are not listed on a national securities exchange such
that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act (or any successor
rule), the Company may, at its option, (i) require holders of Warrants who exercise Warrants to exercise such Warrants on a
“cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) as described in subsection
7.04(a) and (ii) in the event the Company so elects, the Company shall not be required to file or maintain in effect a
post-effective amendment to the Registration Statement or a new registration statement for the registration, under the Securities
Act, of the Ordinary Shares issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary. If
the Company does not elect at the time of exercise to require a holder of Warrants who exercises Warrants to exercise such Warrants
on a “cashless basis,” it agrees to use its best efforts to register or qualify for sale the Ordinary Shares issuable
upon exercise of the Warrant under the blue sky laws of the state of residence in those states in which the Warrants were initially
offered by the Company of the exercising Warrant holder to the extent an exemption is not available.


 


ARTICLE VIII.


CONCERNING THE WARRANT AGENT AND
OTHER MATTERS


 


Section 8.01 Payment of Taxes. The Company shall
from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance
or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in
respect of the Warrants or such Ordinary Shares.


 


Section 8.02 Resignation, Consolidation, or Merger of Warrant
Agent.


 


(a) Appointment of Successor Warrant Agent.
The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and
liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent
becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in
place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been
notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such
notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court
of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost.
Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under
the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of
New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or
state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities,
duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without
any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and
deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and
rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute,
acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such
successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.


 






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(b) Notice of Successor Warrant Agent. In the event
a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the Transfer
Agent for the Ordinary Shares not later than the effective date of any such appointment.


 


(c) Merger or Consolidation of Warrant Agent.
Any corporation into which the Warrant Agent may be merged or with which it may be consolidated or any corporation resulting from any
merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without
any further act.


 


Section 8.03 Expenses of Warrant Agent.


 


(a) Remuneration. The Company agrees to pay the
Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and shall, pursuant to its obligations under this
Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of
its duties hereunder.


 


(b) Further Assurances. The Company agrees to
perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other
acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions
of this Agreement.


 


Section 8.04 Liability of Warrant Agent.


 


(a) Reliance on Company Statement. Whenever in
the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or matter be
proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in
respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the
Chairman of the Board, Chief Executive Officer, Chief Operating Officer, President, Chief Financial Officer, Secretary or other principal
officer of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered
in good faith by it pursuant to the provisions of this Agreement.


 


(b) Indemnity. The Warrant Agent shall be liable
hereunder only for its own gross negligence, willful misconduct or bad faith (as determined by a court of competent jurisdiction in a
final and non-appealable judgment). The Company agrees to indemnify the Warrant Agent, its employees, officers and directors (each, an
“Indemnified Person”), and save each Indemnified Person harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by such Indemnified Person in the execution of this Agreement, except
as a result of the Indemnified Person’s gross negligence, willful misconduct or bad faith (as determined by a court of competent
jurisdiction in a final and non-appealable judgment).


 


(c) Exclusions. The Warrant Agent shall
have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant
(except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or
condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required
under the provisions of Article IV hereof or responsible for the manner, method, or amount of any such adjustment or the
ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make
any representation or warranty as to the authorization or reservation of any Ordinary Shares to be issued pursuant to this Agreement
or any Warrant or as to whether any Ordinary Shares shall, when issued, be valid and fully paid and non- assessable.


 


Section 8.05 Acceptance of Agency. The Warrant
Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set
forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and
pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares through the exercise of the Warrants.


 


Section 8.06 Waiver. The Warrant Agent
has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any
distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof,
by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and
all Claims against the Trust Account and any and all rights to seek access to the Trust Account.


 






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ARTICLE
IX. 

MISCELLANEOUS PROVISIONS


 


Section 9.01 Successors. All the covenants and
provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective
successors and assigns.


 


Section 9.02 Notices. Any notice, statement
or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company
with the Warrant Agent), as follows:


 


Enterprise 4.0 Technology Acquisition Corp.


260 Madison Avenue, Suite 800


New York, New York 10016


Attention: Eric Benhamou


Email:


 


Any notice, statement or demand authorized by this Agreement
to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered
if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice,
postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:


 


Continental Stock Transfer & Trust Company


1 State Street, 30th Floor


New York, NY 10004


Attention: Compliance Department


 


With a copy to:


 


Ellenoff Grossman & Schole LLP


1345 Avenue of the Americas


New York, NY 10105


Attn: Stuart Neuhauser


Email: sneuhauser@egsllp.com


 


and


 


Cantor Fitzgerald & Co.


110 East 59th Street


New York, NY 10022


Attn: Kelley Basham


Email: Kelley.Basham@cantor.com and


 


Mizuho Securities USA LLC


1271 Avenue of the Americas


New York, NY 10020


Attn: Julie Grossman


Email: Julie.Grossman@mizuhogroup.com


 






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Section 9.03 Applicable Law. The validity,
interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the laws of the State of
New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of
another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any
way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for
the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive forum for any
such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum. Notwithstanding the foregoing, (i) the provisions of this Section 9.03 will not apply to
suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal courts have
exclusive jurisdiction and (ii) unless the Corporation consents in writing to the selection of an alternative forum, the federal
district courts of the United States of America shall, to the fullest extent permitted by law, be the exclusive forum for the
resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended, or the rules and
regulations promulgated thereunder.


 


Any person or
entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum
provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in
a court other than a court located within the State of New York or the United States District Court for the Southern District of New York
(a “Foreign Action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x)
the personal jurisdiction of the state and federal courts located within the State of New York or the United States District Court for
the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement
action”), and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant
holder’s counsel in the Foreign Action as agent for such warrant holder.


 


Section 9.04 Persons Having Rights under this Agreement.
Nothing in this Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto and the
Registered Holders of the Warrants and, for purposes of Sections 7.04, 9.04 and 9.09, any right, remedy, or claim under or by reason of
this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises,
and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and, and, for purposes of
Sections 7.04, 9.04 and 9.09and their successors and assigns and of the Registered Holders of the Warrants.


 


Section 9.05 Further Assurances. The Company agrees
to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other
acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions
of this Agreement.


 


Section 9.06 Examination of the Warrant Agreement.
A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City
and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit
such holder’s Warrant for inspection by the Warrant Agent.


 


Section 9.07 Counterparts and Electronic
Signatures.. This Agreement may be executed in any number of original or facsimile counterparts and each of such
counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the
same instrument. Electronic signatures complying with the New York Electronic Signatures and Records Act (N.Y. State Tech.
§§ 301-309), as amended from time to time, or other applicable law will be deemed original signatures for purposes of this
Agreement. Transmission by telecopy, electronic mail or other transmission method of an executed counterpart of this Agreement will
constitute due and sufficient delivery of such counterpart.


 


Section 9.08 Effect of Headings. The section headings
herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.


 






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Section 9.09 Amendments. This Agreement may be
amended by the parties hereto without the consent of any Registered Holder (i) for the purpose of (x) curing any ambiguity to correct
any defective provision or mistake contained herein, including to conform the provisions hereof to the description of the terms of the
Warrants and this Agreement set forth in the Prospectus, (y) adjusting the definition of “Ordinary Cash Dividend” as contemplated
by and in accordance with the second sentence of subsection 4.01(b) or (z) adding or changing any other provisions with respect to matters
or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely
affect the rights of the Registered Holders under this Agreement, and (ii) to provide for the delivery or Alternative Issuance pursuant
to Section 4.04. All other modifications or amendments, including any modification or amendment to increase the Warrant Price or shorten
the Exercise Period, shall require the vote or written consent of the Registered Holders of 50% of the number of the then-outstanding
Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant
to Sections 3.01 and 3.02, respectively, without the consent of the Registered Holders.


 


Section 9.10 Severability. This Agreement shall
be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability
of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision,
the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable
provision as may be possible and be valid and enforceable.


 


Exhibit A Form of Warrant Certificate


 


Exhibit B Legend—Private Placement Warrants sold to Sponsor


 


Exhibit C Legend—Private Placement Warrants sold to Representatives


 






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IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed as of the date first above written.


 


	 	ENTERPRISE 4.0 TECHNOLOGY ACQUISITION CORP.
	 	 
	 	By: 	/s/ Eric Benhamou
	 	Name: 	Eric Benhamou
	 	Title: 	Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	as Warrant Agent
	 	 
	 	By: 	/s/ Ana Gois
	 	Name: 	Ana Gois
	 	Title: 	Vice President



 


[Signature Page to Warrant Agreement]


 






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EXHIBIT A


[FORM OF WARRANT CERTIFICATE]
[FACE]


 


Number


 


Warrants


 


THIS WARRANT SHALL BE VOID
IF NOT EXERCISED PRIOR TO

 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

 IN THE WARRANT AGREEMENT DESCRIBED BELOW


 


ENTERPRISE 4.0 TECHNOLOGY
ACQUISITION CORP.


Incorporated Under the Laws
of the Cayman Islands


 


CUSIP [●]


 


Warrant Certificate


 


THIS WARRANT CERTIFICATE CERTIFIES THAT [●], or registered
assigns, is the registered holder of [●] warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”)
to purchase Class A ordinary shares, $0.0001 per [is this supposed to be “par”?] value per share (“Ordinary Shares”),
of Enterprise 4.0 Technology Acquisition Corp., a Cayman Islands exempted company (the “Company”). Each whole Warrant
entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company
that number of fully paid and non-assessable Ordinary Shares as set forth below, at the exercise price (the “Exercise Price”)
as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in
the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at
the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement.
Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.


 


Each whole Warrant is initially exercisable for one fully
paid and non-assessable Ordinary Share. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment
upon the occurrence of certain events set forth in the Warrant Agreement.


 


The initial Exercise Price per Ordinary Share
for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events set
forth in the Warrant Agreement.


 


Subject to the conditions set forth in the Warrant Agreement,
the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such
Warrants shall become void.


 


Reference is hereby made to the further provisions of
this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though
fully set forth at this place.


 


This Warrant Certificate shall not be valid unless
countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.


 


This Warrant Certificate shall be governed by
and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles
thereof.


 






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	 	ENTERPRISE 4.0 TECHNOLOGY ACQUISITION
    CORP.
	 	 
	 	By: 	
	 	Name:	               
	 	Title:	 
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, LLC,
	 	as Warrant Agent
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 



 






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[Form of Warrant Certificate]


 


[Reverse]


 


The Warrants evidenced by this Warrant Certificate are part of a
duly authorized issue of Warrants entitling the holder on exercise to receive [●] Ordinary Shares and are issued or to be issued
pursuant to a Warrant Agreement dated as of [●], 2021 (the “Warrant Agreement”), duly executed and delivered by
the Company to Continental Stock Transfer & Trust Company, a New York limited purpose trust company, as warrant agent (the “Warrant
Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred
to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company
and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder) of the Warrants.
A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant
Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.


 


Warrants may be exercised at any time during the Exercise
Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering
this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment
of the Exercise Price as specified in the Warrant Agreement (or through “cashless exercise” as provided for in the Warrant
Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby
the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder
hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.


 


Notwithstanding anything else in this Warrant Certificate
or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a post-effective amendment to the Registration
Statement or a new registration statement covering the Ordinary Shares to be issued upon exercise is effective under the Securities Act
and (ii) a prospectus thereunder relating to the Ordinary Shares is current, except through “cashless exercise” as provided
for in the Warrant Agreement.


 


The Warrant Agreement provides that upon the occurrence
of certain events the number of Ordinary Shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain
conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share
of Ordinary Shares, the Company shall, upon exercise, round down to the nearest whole number of Ordinary Shares to be issued to the holder
of the Warrant.


 


Warrant Certificates, when surrendered at the principal
corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative or attorney duly authorized
in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any
service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants.


 


Upon due presentation for registration of transfer of
this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing
in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the
limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith.


 


The Company and the Warrant Agent may deem and treat the
Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate
entitles any holder hereof to any rights of a shareholder of the Company.


 






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Election to Purchase


 


(To Be Executed Upon Exercise
of Warrant)


 


The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to receive [●] Ordinary Shares and herewith tenders payment for such Ordinary Shares
to the order of Enterprise 4.0 Technology Acquisition Corp. (the “Company”) in the amount of $[●] in
accordance with the terms hereof. The undersigned requests that a certificate for such Ordinary Shares be registered in the name of
[●], whose address is [●], and that such Ordinary Shares be delivered to [●] whose address is [●]. If said
number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that a new Warrant
Certificate representing the remaining balance of such Ordinary Shares be registered in the name of [●], whose address is
[●], and that such Warrant Certificate be delivered to [●], whose address is [●].


 


In the event that the Warrant has been called for
redemption by the Company pursuant to Article VI of the Warrant Agreement and the Company has required cashless exercise pursuant
to Section 6.04 of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined
in accordance with Section 3.03(a)(ii) and Section 6.04 of the Warrant Agreement.


 


In the event that the Warrant is to be exercised on a
“cashless” basis pursuant to Section 7.04 of the Warrant Agreement, the number of Ordinary Shares that this Warrant
is exercisable for shall be determined in accordance with Section 7.04 of the Warrant Agreement.


 


In the event that the Warrant may be exercised, to the extent
allowed by the Warrant Agreement, through cashless exercise (i) the number of Ordinary Shares that this Warrant is exercisable for
would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and
(ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by
this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said
number of shares is less than all of the Ordinary Shares purchasable hereunder (after giving effect to the cashless exercise), the
undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the
name of [●], whose address is [●], and that such Warrant Certificate be delivered to [●], whose address is
[●].


 


[Signature Page Follows]


 






    20


     


    

 


	Date: [●], 20[●]	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)



 


Signature Guaranteed:


 


 


 






 


THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)).


 






    21


     


    

 


EXHIBIT B


 


PRIVATE PLACEMENT WARRANTS
LEGEND


 


“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR
AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT
BY AND AMONG ENTERPRISE 4.0 TECHNOLOGY ACQUISITION CORP. (THE “COMPANY”), ENT 4.0 TECHNOLOGY SPONSOR LLC, AND THE OTHER PARTIES
THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER
THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED
TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY
TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.


 


SECURITIES EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY
SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT
TO BE EXECUTED BY THE COMPANY.”


 






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EXHIBIT C


 


PRIVATE PLACEMENT WARRANTS
LEGEND


 


“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE
DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION
FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE UNIT SUBSCRIPTION AGREEMENT
BY AND BETWEEN ENTERPRISE 4.0 TECHNOLOGY ACQUISITION CORP. (THE “COMPANY”) AND CANTOR FITZGERALD & CO., AND THE OTHER
PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30)
DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT
REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE
COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.


 


SECURITIES EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY
SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT
TO BE EXECUTED BY THE COMPANY.”


 


 


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