Exhibit
10.3


 


REGISTRATION
RIGHTS AGREEMENT


 


THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the __ day of ______, 2020, by
and among Capitol Investment Corp. V, a Delaware corporation (the “Company”), and the undersigned parties
listed under “Investors” on the signature pages hereto (each, an “Investor” and collectively,
the “Investors”).


 


WHEREAS,
the Investors hold an aggregate of 8,625,000 shares of Class B common stock, par value $0.0001 per share, of the Company (the
“Founder Shares”), up to 1,125,000 of which are subject to forfeiture, depending on the extent to which
the underwriters of the Company’s initial public offering exercise their over-allotment option;


 


WHEREAS,
the Founder Shares will automatically convert into shares of the Company’s Class A common stock, par value $0.0001 per share
(the “Common Stock”), at the time of the initial Business Combination (as defined below) on a one-for-one
basis, subject to adjustment, on the terms and conditions provided in the Company’s amended and restated certificate of
incorporation, as may be amended from time to time (the “Charter”);


 


WHEREAS,
on ___________, 2020, the Company and the Investors entered into that certain Private Placement Warrants Purchase Agreement, pursuant
to which the Investors agreed to purchase 5,233,333 warrants (or 5,833,333 warrants if the over-allotment option in connection
with the Company’s initial public offering is exercised in full) (the “Private Placement Warrants”)
in a private placement transaction occurring simultaneously with the closing of the Company’s initial public offering; and


 


WHEREAS,
the Investors and the Company desire to enter into this Agreement to provide the Investors with certain rights relating to the
registration of Common Stock, Private Placement Warrants and Working Capital Warrants (as defined below) held, or to be held,
by them;


 


NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:


 


Article
I



 Definitions


 


1.1 Definitions.
The following capitalized terms used herein have the following meanings:


 


“Agreement”
means this Agreement, as amended, restated, supplemented or otherwise modified from time to time.


 


“Business
Combination” means the acquisition of direct or indirect ownership through a merger, stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses or entities.


 






     


     


    

 


“Commission”
means the Securities and Exchange Commission, or any other federal agency then administering the Securities Act or the Exchange
Act.


 


“Common
Stock” is defined in the preamble to this Agreement.


 


“Company”
is defined in the preamble to this Agreement.


 


“Demand
Registration” is defined in Section 2.1.1.


 


“Demanding
Holder” is defined in Section 2.1.1.


 


“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, all as the same shall be in effect at the time.


 


“Form
S-3” is defined in Section 2.3.


 


“Founder
Shares” is defined in the preamble to this Agreement and includes the Common Stock issuable upon conversion thereof.


 


“Founder
Shares Lock-up Period” means, with respect to the Founder Shares, the period ending on the earlier of (A) one year
after the completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if
the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the
Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, stock exchange,
reorganization or other similar transaction that results in all of the Company’s public stockholders having the right to
exchange their shares of Common Stock for cash, securities or other property.


 


“Indemnified
Party” is defined in Section 4.3.


 


“Indemnifying
Party” is defined in Section 4.3.


 


“Investor”
is defined in the preamble to this Agreement.


 


“Investor
Indemnified Party” is defined in Section 4.1.


 


“Maximum
Number of Shares” is defined in Section 2.1.4.


 


“Notices”
is defined in Section 6.3.


 


“Permitted
Transferees” shall mean a person or entity to whom an Investor is permitted to transfer Registrable Securities prior
to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, under this Agreement
and any other applicable agreement between an Investor and the Company, and to any transferee thereafter.


 


“Piggy-Back
Registration” is defined in Section 2.2.1.


 






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“Private
Placement Lock-up Period” means, with respect to Private Placement Warrants that are held by the initial purchasers
of such Private Placement Warrants or their Permitted Transferees, and any of the Common Stock issued or issuable upon the exercise
or conversion of the Private Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants
or their Permitted Transferees, the period ending 30 days after the completion of the Company’s initial Business Combination.


 


“Private
Placement Warrants” means the warrants being purchased privately by the Investors simultaneously with the consummation
of the Company’s initial public offering (including to a certain extent in connection with the consummation of the underwriters’
over-allotment option related thereto).


 


“Register,”
“Registered” and “Registration” mean a registration effected by preparing
and filing a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable
rules and regulations promulgated thereunder, and such registration statement becoming effective.


 


“Registrable
Securities” mean (i) all of the Founder Shares (including the shares of Common Stock issued or issuable upon the
conversion of any Founder Shares), (ii) all of the Private Placement Warrants (including the shares of Common Stock issued or
issuable upon the exercise of any Private Placement Warrants), (iii) all of the Working Capital Warrants (including the shares
of Common Stock issued or issuable upon the exercise of any Working Capital Warrants) and (iv) all Common Stock or any other equity
security (including the shares of Common Stock issued or issuable upon the exercise of any other equity securities) of the Company
held by an Investor as of the date of this Agreement. Registrable Securities include any warrants, shares of capital stock or
other securities of the Company issued as a dividend, split or other distribution with respect to or in exchange for or in replacement
of such Founder Shares (including the shares of Common Stock issued or issuable upon the conversion of any Founder Shares), Private
Placement Warrants (including the shares of Common Stock issued or issuable upon the exercise of any Private Placement Warrants),
Working Capital Warrants (including the shares of Common Stock issued or issuable upon the exercise of any Working Capital Warrants)
or other equity securities (including the shares of Common Stock issued or issuable upon the exercise of any other equity securities).
As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such securities
shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (c) such securities shall have ceased to be outstanding; or (d) such securities are sold without registration
pursuant to Rule 144 promulgated under the Securities Act; or (e) such securities have been sold to, or through, a broker, dealer
or underwriter in a public distribution or other public securities transaction.


 


“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities
Act and the rules and regulations promulgated thereunder for a public offering and sale of Common Stock (other than a registration
statement on Form S-4 or Form S-8, or their successors, or any registration statement covering only securities proposed to be
issued in exchange for securities or assets of another entity).


 






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“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.


 


“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of
such dealer’s market-making activities.


 


“Working
Capital Warrants” means the warrants held by Investors, officers or directors of the Company or their affiliates
which may be issued in payment of working capital loans made to the Company.


 


Article
II



REGISTRATION RIGHTS


 


2.1  Demand
Registration.


 


2.1.1 Request
for Registration. At any time and from time to time on or after the date that the Company consummates its initial Business
Combination, the Investors may make a written demand for registration under the Securities Act of all or part of their Registrable
Securities (a “Demand Registration”). Any demand for a Demand Registration shall specify the number
of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will within
ten days of the Company’s receipt of the Demand Registration notify, in writing, all other holders of Registrable Securities
of the demand, and each holder of Registrable Securities who wishes to include all or a portion of such holder’s Registrable
Securities in the Demand Registration (each such holder including shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company, in writing, within five days after the receipt by the holder of the notice
from the Company. Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included
in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall
not be obligated to effect more than an aggregate of three Demand Registrations under this Section 2.1.1 in respect of
all Registrable Securities; provided, however, that a Registration shall not be counted for such purposes unless a Form
S-1 or any similar long-form registration statement that may be available at such time has become effective and all of the Registrable
Securities requested by the Demanding Holders to be registered on behalf of the Demanding Holders in such Registration have been
sold, in accordance with Section 3.1.


 


2.1.2 Effective
Registration. A registration will not count as a Demand Registration unless and until the Registration Statement filed with
the Commission with respect to such Demand Registration has been declared effective by the Commission and the Company has complied
with all of its obligations under this Agreement with respect thereto; provided, however, that if, after such Registration
Statement has been declared effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered
with by any stop order or injunction of the Commission or any other governmental agency or court, the Registration Statement with
respect to such Demand Registration will be deemed not to have been declared effective, unless and until, (i) such stop order
or injunction is removed, rescinded or otherwise terminated and (ii) a majority-in-interest of the Demanding Holders thereafter
affirmatively elect to continue with such Registration and notify the Company in writing, but in no event later than five days
following such election; provided, further, that the Company shall not be obligated to file another Registration Statement
until the Registration Statement that has been previously filed with respect to a Registration becomes effective or is terminated.


 






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2.1.3 Underwritten
Offering. If a majority-in-interest of the Demanding Holders so elect and such holders so advise the Company as part of their
written demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall
be in the form of an underwritten offering. In such event, the right of any holder to include its Registrable Securities in such
registration shall be conditioned upon such holder’s participation in such underwritten offering and the inclusion of such
holder’s Registrable Securities in the underwritten offering to the extent provided herein. All Demanding Holders proposing
to distribute their securities through such underwritten offering shall enter into an underwriting agreement in customary form
with the Underwriter or Underwriters selected for such underwritten offering by a majority-in-interest of the holders initiating
the Demand Registration. Notwithstanding anything to the contrary in this Agreement, the Company may effect any underwritten offering
pursuant to any then effective Registration Statement, including a Form S-3, that is then available for such offering.


 


2.1.4 Reduction
of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering,
in good faith, advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable
Securities that the Demanding Holders desire to sell, taken together with all other Common Stock or other securities that the
Company desires to sell and the Common Stock, if any, as to which a Registration has been requested pursuant to separate written
contractual piggy-back registration rights held by other stockholders of the Company who desire to sell, exceeds the maximum dollar
amount or maximum number of equity securities that can be sold in such offering without adversely affecting the proposed offering
price, the timing, the distribution method or the probability of success of such offering (such maximum dollar amount or maximum
number of equity securities, as applicable, the “Maximum Number of Shares”), then the Company shall
include in such registration: (i) the Registrable Securities as to which a Demand Registration has been requested by the Demanding
Holders (pro rata in accordance with the number of Registrable Securities that each such Demanding Holder has requested
be included in such registration, regardless of the number of Registrable Securities held by each such Demanding Holder (such
proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number
of Shares; (ii) to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Registrable
Securities of holders exercising their rights to register their Registrable Securities pursuant to Section 2.2 without
exceeding the Maximum Number of Shares; (iii) to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; and (iv) to the extent that the Maximum Number of Shares have not been reached under the foregoing
clauses (i), (ii) and (iii), the Common Stock or other equity securities for the account of other persons that the Company is
obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be
sold without exceeding the Maximum Number of Shares.


 






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2.1.5 Demand
Registration Withdrawal. A majority-in-interest of the Demanding Holders may elect to withdraw from a Registration for any
or no reason whatsoever by giving written notice to the Company and the Underwriter or Underwriters (if any) of their intention
to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Demand Registration. If the majority-in-interest of the Demanding Holders withdraws from a proposed offering relating
to a Demand Registration, then such registration shall not count as a Demand Registration provided for in this Section 2.1.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection
with such Demand Registration as provided in Section 3.2.


 


2.2 Piggy-Back
Registration.


 


2.2.1 Piggy-Back
Rights. If, at any time on or after the date the Company consummates its initial Business Combination, the Company proposes
to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or by
stockholders of the Company for their account (or by the Company and by stockholders of the Company, including, without limitation,
pursuant to Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or
other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders,
(iii) for an offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan,
then the Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable
but in no event less than ten days before the anticipated filing date of such Registration Statement, which notice shall describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution and the name of the
proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities
in such notice the opportunity to register the sale of such number of Registrable Securities as such holders may request in writing
within five days following receipt of such notice (a “Piggy-Back Registration”). The Company shall,
in good faith, cause such Registrable Securities to be included in such Piggy-Back Registration and shall use its best efforts
to cause the managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested
to be included in a Piggy-Back Registration on the same terms and conditions as any similar securities of the Company included
in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended
method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their Registrable Securities
through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary
form with the Underwriter or Underwriters selected for such Piggy-Back Registration.


 






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2.2.2 Reduction
of Piggy-Back Registration. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten
offering, in good faith, advises the Company and the holders of Registrable Securities participating in the Piggy-Back Registration
in writing that the dollar amount or number of shares of Common Stock that the Company desires to sell, taken together with the
Common Stock, if any, as to which a Registration has been demanded pursuant to separate written contractual arrangements with
persons or entities other than the holders of Registrable Securities hereunder, the Registrable Securities as to which a Registration
has been requested under this Section 2.2 and the Common Stock, if any, as to which a Registration has been requested pursuant
to the separate written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number
of Shares, then the Company shall include in any such registration:


 


(a) if
the registration is undertaken for the Company’s account: (A) the Common Stock or other securities that the Company desires
to sell that can be sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares has
not been reached under the foregoing clause (A), the Registrable Securities of holders as to which a Registration has been requested
pursuant to the terms hereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (C) to the extent
that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), Common Stock or other equity securities
for the account of other persons that the Company is obligated to register in a Registration pursuant to separate written contractual
piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number of Shares; and


 


(b) if
the registration is a “demand” registration undertaken at the demand of persons or entities other than the holders
of Registrable Securities: (A) the Common Stock or other equity securities for the account of the demanding persons that can be
sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), the Registrable Securities as to which a Registration has been requested pursuant to the terms
hereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (C) to the extent that the Maximum Number of
Shares has not been reached under the foregoing clauses (A) and (B), the Common Stock or other securities that the Company desires
to sell that can be sold without exceeding the Maximum Number of Shares; and (D) to the extent that the Maximum Number of Shares
has not been reached under the foregoing clauses (A), (B) and (C), the Common Stock or other securities for the account of other
persons that the Company is obligated to register in a Registration pursuant to separate written contractual arrangements with
such persons and that can be sold without exceeding the Maximum Number of Shares.


 


2.2.3 Piggy-Back
Registration Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion
of Registrable Securities in any Piggy-Back Registration for any reason or no reason whatsoever by giving written notice to the
Company of such request to withdraw prior to the effectiveness of the Registration Statement (or in the case of an underwritten
offering pursuant to Rule 415 under the Securities Act, at least two business days prior to the time of pricing of the applicable
offering). The Company (whether on its own good faith determination or as the result of a withdrawal by persons making a demand
pursuant to separate written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness
of the Registration Statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders
of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 3.2.


 






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2.2.4 Unlimited
Piggy-Back Registration Rights. For purposes of clarity, any registration effected pursuant to Section 2.2 hereof shall
not be counted as a registration pursuant to a Demand Registration effected under Section 2.1 hereof.


 


2.3 Registrations
on Form S-3. The holders of Registrable Securities may at any time and from time to time request in writing that
the Company register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration
statement that may be available at such time (“Form S-3”); provided, however, that the Company
shall not be obligated to effect such request through an underwritten offering. Within five days of the Company’s receipt
of a written request from a holder or holders of Registrable Securities for a Registration on Form S-3, the Company will promptly
give written notice of the proposed Registration to all other holders of Registrable Securities, and each holder of Registrable
Securities who thereafter wishes to include all or a portion of such holder’s Registrable Securities in such Registration
shall so notify the Company, in writing, within ten days after the receipt by the holder of the notice from the Company, and,
as soon as practicable thereafter, but not more than 12 days after the Company’s initial receipt of such written request
for a Registration, effect the Registration of all or such portion of such holder’s or holders’ Registrable Securities
as are specified in such request, together with all or such portion of the Registrable Securities, if any, of any other holder
or holders joining in such request; provided, however, that the Company shall not be obligated to effect any such Registration
pursuant to this Section 2.3 if: (i) Form S-3 is not available for such offering; or (ii) the holders of the Registrable
Securities, together with the holders of any other equity securities of the Company entitled to inclusion in such Registration,
propose to sell Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less
than $500,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected
pursuant to Section 2.1.


 


2.4 Restrictions
on Registration Rights. Notwithstanding anything to the contrary contained in this Agreement, no Registration
shall be effected or permitted and no Registration Statement shall become effective, with respect to any Registrable Securities
held by any Investor, until after the expiration of the Founder Shares Lock-Up Period or the Private Placement Lock-Up Period,
as the case may be.


 


Article
III



 REGISTRATION PROCEDURES


 


3.1 Filings;
Information. Whenever the Company is required to effect the registration of any Registrable Securities pursuant
to Section 2, the Company shall use its best efforts to effect the registration and sale of such Registrable Securities
in accordance with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any
such request:


 






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3.1.1 Filing
Registration Statement. The Company shall, as expeditiously as possible and in any event within 45 days after receipt of a
request for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement
on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall
be available for the sale of all Registrable Securities to be registered thereunder in accordance with the intended method(s)
of distribution thereof, and shall use its best efforts to cause such Registration Statement to become and remain effective for
the period required by Section 3.1.3; provided, however, that the Company shall have the right to defer any Demand
Registration for up to 30 days, and any Piggy-Back Registration for such period as may be applicable to deferment of any demand
registration to which such Piggy-Back Registration relates, in each case, if the Company shall furnish to the holders a certificate
signed by the Chairman of the Board of Directors or President of the Company stating that, in the good faith judgment of the Board
of Directors of the Company, it would be materially detrimental to the Company and its stockholders for such Registration to be
effected at such time; provided, further, however, that the Company shall not have the right to exercise the right set
forth in the immediately preceding proviso more than once in any 365-day period in respect of a Demand Registration hereunder.


 


3.1.2 Copies.
The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without
charge to the holders of Registrable Securities included in such Registration, and such holders’ legal counsel, copies of
such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration
Statement (including each preliminary prospectus) and such other documents as the holders of Registrable Securities included in
such Registration or legal counsel for any such holders may request in order to facilitate the disposition of the Registrable
Securities owned by such holders.


 


3.1.3 Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments,
and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and in compliance with the provisions of the Securities Act or as requested by the majority-in-interest
of the holders of Registrable Securities registered on such Registration Statement or any Underwriter in connection with an offering
of Registrable Securities until all Registrable Securities and other securities covered by such Registration Statement have been
disposed of in accordance with the intended method(s) of distribution set forth in such Registration Statement.


 


3.1.4 Notification.
After the filing of a Registration Statement, the Company shall promptly, and in no event more than two business days after such
filing, notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall further
notify such holders promptly and confirm such advice in writing in all events within two business days of the occurrence of any
of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration
Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the Company shall
take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request by the Commission
for any amendment or supplement to such Registration Statement or any prospectus relating thereto or for additional information
or of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter
delivered to the purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, and promptly make available to the holders of Registrable Securities included in such Registration Statement
any such supplement or amendment; provided that at least five days prior to filing with the Commission a Registration Statement
or prospectus or any amendment or supplement thereto, including all exhibits thereto and documents incorporated by reference,
the Company shall furnish to the holders of Registrable Securities included in such Registration Statement and to the legal counsel
for any such holders copies of all such documents proposed to be filed sufficiently in advance of filing to provide such holders
and legal counsel with a reasonable opportunity to review such documents and comment thereon, and the Company shall not file any
Registration Statement or prospectus or amendment or supplement thereto, including all exhibits thereto and documents incorporated
by reference, to which such holders or their legal counsel shall reasonably object.


 






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3.1.5 Securities
Laws Compliance. The Company shall use its best efforts to (i) register or qualify the Registrable Securities covered by the
Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the
holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may
request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered
with or approved by such other governmental authorities or securities exchanges, including the New York Stock Exchange, as may
be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary
or advisable to enable the holders of Registrable Securities included in such Registration Statement to consummate the disposition
of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph or subject
itself to taxation in any such jurisdiction where it is not then otherwise so subject.


 


3.1.6 Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement in
customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such
Registrable Securities. The representations, warranties and covenants of the Company in any underwriting agreement which are made
to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the holders
of Registrable Securities included in such Registration Statement. No holder of Registrable Securities included in such Registration
Statement shall be required to make any representations or warranties in the underwriting agreement except, if applicable, with
respect to such holder’s organization, good standing, authority, title to Registrable Securities, lack of conflict of such
sale with such holder’s material agreements and organizational documents and with respect to written information relating
to such holder that such holder has furnished in writing expressly for inclusion in such Registration Statement.


 


3.1.7 Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer
of the Company and all other officers and members of the management of the Company shall cooperate fully in any offering of Registrable
Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration Statement with
respect to such offering and all other offering materials and related documents, and participation in meetings with Underwriters,
attorneys, accountants and potential investors.


 






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3.1.8 Records.
The Company shall make available for inspection by the holders of Registrable Securities included in such Registration Statement,
any Underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such Registration Statement or any Underwriter, all
financial and other records, pertinent corporate documents and properties of the Company as shall be necessary to enable them
to exercise their due diligence responsibility, and cause the Company’s officers, directors, employees and accountants to
supply all information requested by any of them in connection with such Registration Statement.


 


3.1.9 Opinions
and Comfort Letters. On the date the Registrable Securities are delivered for sale pursuant to such Registration, the Company
shall obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed
to the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration
in respect of which such opinion is being given as the placement agent, sales agent or Underwriter may reasonably request and
as are customarily included in such opinions and negative assurance letters. On the effective date of any Registration Statement
and on the date the Registrable Securities are delivered for sale pursuant to such Registration, the Company shall obtain a comfort
letter, dated such date, from the Company’s independent public accountants and other accountants with respect to the financial
statements included in the Registration Statement, addressed to the placement agent or sales agent, if any, and the Underwriters,
if any, covering such matters as the placement agent, sales agent or Underwriter may reasonably request and as are customarily
included in comfort letters from accountants. The Company shall furnish to each holder of Registrable Securities included in any
Registration Statement a signed counterpart, addressed to such holder, of (i) any opinion of counsel to the Company delivered
to any Underwriter and (ii) any comfort letter from the Company’s independent public accountants delivered to any Underwriter.
In the event no legal opinion is delivered to any Underwriter, the Company shall furnish to each holder of Registrable Securities
included in such Registration Statement, at any time that such holder elects to use a prospectus, an opinion of counsel to the
Company to the effect that the Registration Statement containing such prospectus has been declared effective and that no stop
order is in effect.


 


3.1.10 Earning
Statement. The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and
make available to its stockholders, as soon as practicable, an earning statement covering a period of 12 months, beginning within
three months after the effective date of the Registration Statement, which earning statement shall satisfy the provisions of Section
11(a) of the Securities Act and Rule 158 thereunder.


 


3.1.11 Listing.
The Company shall use its best efforts to cause all Registrable Securities included in any registration to be listed on such exchanges
or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed or designated
or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of a majority-in-interest
of the Registrable Securities included in such Registration.


 


3.1.12 Transfer
Agent. The Company shall provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable
Securities no later than the effective date of the Registration Statement.


 






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3.1.13 Misstatements.
The Company shall notify the holders at any time when a prospectus relating to such Registration Statement is required to be delivered
under the Securities Act, of the happening of any event as a result of which the prospectus included in such Registration Statement,
as then in effect, includes an untrue statement of a material fact or an omission to state a material fact required to be stated
in a Registration Statement or prospectus, or necessary to make the statements therein in the light of the circumstances under
which they were made not misleading (a “Misstatement”), and then to correct such Misstatement.


 


3.2 Registration
Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration
pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2 and any registration on Form S-3 effected
pursuant to Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement,
whether or not the Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees
and fees of any securities exchange on which the Common Stock is then listed; (ii) fees and expenses of compliance with securities
or “blue sky” laws (including fees and disbursements of counsel for the Underwriters in connection with blue sky qualifications
of the Registrable Securities); (iii) printing, messenger, telephone and delivery expenses; (iv) the Company’s internal
expenses (including, without limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred
in connection with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory
Authority, Inc. fees (including fees and disbursements of counsel for the Underwriters in connection with filings with the Financial
Industry Regulatory Authority, Inc.); (vii) fees and disbursements of counsel for the Company and fees and expenses for independent
certified public accountants retained by the Company (including the expenses or costs associated with the delivery of any opinions
or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts retained by
the Company in connection with such registration; and (ix) the fees and expenses of one legal counsel selected by the holders
of a majority-in-interest of the Registrable Securities included in such Registration. The Company shall have no obligation to
pay any underwriting discounts or selling commissions attributable to the Registrable Securities being sold by the holders thereof,
which underwriting discounts or selling commissions shall be borne by such holders. Additionally, in an underwritten offering,
all selling stockholders and the Company shall bear the expenses of the Underwriter or Underwriters pro rata in proportion
to the respective amount of shares each is selling in such offering.


 


3.3 Information.
The holders of Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing
Underwriter, if any, in connection with the preparation of any Registration Statement, including amendments and supplements thereto,
in order to effect the Registration of any Registrable Securities under the Securities Act pursuant to Section 2 and in
connection with the Company’s obligation to comply with federal and applicable state securities laws.


 


3.4 Requirements
for Participation in Underwritten Offerings. No person may participate in any underwritten offering for equity
securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell
such person’s securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes
and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other
customary documents as may be reasonably required under the terms of such underwriting arrangements.


 






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3.5 Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement
or prospectus contains a Misstatement, each of the Investors shall forthwith discontinue disposition of Registrable Securities
until it has received copies of a supplemented or amended prospectus correcting the Misstatement (it being understood that the
Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after the time of such notice),
or until it is advised in writing by the Company that the use of the prospectus may be resumed. If the filing, initial effectiveness
or continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse
Disclosure (as defined below) or would require the inclusion in such Registration Statement of financial statements that are unavailable
to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action
to the holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest
period of time, but in no event more than 30 days, determined in good faith by the Company to be necessary for such purpose. In
the event the Company exercises its rights under the preceding sentence, the holders agree to suspend, immediately upon their
receipt of the notice referred to above, their use of the prospectus relating to any Registration in connection with any sale
or offer to sell Registrable Securities. The Company shall immediately notify the Investors of the expiration of any period during
which it exercised its rights under this Section 3.5. “Adverse Disclosure” shall mean any public
disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer or
principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in
any Registration Statement or prospectus in order for the applicable Registration Statement or prospectus not to contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case
of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading,
(ii) would not be required to be made at such time if the Registration Statement were not being filed and (iii) the Company has
a bona fide business purpose for not making such information public.


 


3.6 Reporting
Obligations. As long as any holder shall own Registrable Securities, the Company, at all times while it shall
be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a)
or 15(d) of the Exchange Act and to promptly furnish the holders with true and complete copies of all such filings. The Company
further covenants that it shall take such further action as any holder may reasonably request, all to the extent required from
time to time to enable such holder to sell Common Stock held by such holder without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions.
Upon the request of any holder, the Company shall deliver to such holder a written certification of a duly authorized officer
as to whether it has complied with such requirements.


 






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Article
IV



INDEMNIFICATION AND CONTRIBUTION


 


4.1 Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Investor and each other holder of
Registrable Securities, and each of their respective officers, employees, affiliates, directors, partners, members, attorneys
and agents, and each person, if any, who controls an Investor and each other holder of Registrable Securities (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified Party”),
from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or
based upon any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under
which the sale of such Registrable Securities was Registered under the Securities Act, any preliminary prospectus, final prospectus
or summary prospectus contained in the Registration Statement or any amendment or supplement to such Registration Statement, or
arising out of or based upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary
to make the statements therein not misleading, or any violation by the Company of the Securities Act or any rule or regulation
promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with
any such Registration; and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses
reasonably incurred by such Investor Indemnified Party in connection with investigating and defending any such expense, loss,
judgment, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case to
the extent that any such expense, loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly
untrue statement or omission or alleged omission made in such Registration Statement, preliminary prospectus, final prospectus
or summary prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the
Company, in writing, by such selling holder expressly for use therein. The Company also shall indemnify any Underwriter of the
Registrable Securities, their officers, affiliates, directors, partners, members and agents and each person who controls such
Underwriter on substantially the same basis as that of the indemnification provided above in this Section 4.1.


 


4.2 Indemnification
by Holders of Registrable Securities. Each selling holder of Registrable Securities will, in the event that
any Registration is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held by such
selling holder, indemnify and hold harmless the Company, each of its directors and officers, each other selling holder and each
other person, if any, who controls the Company or another selling holder within the meaning of the Securities Act, against any
losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such losses, claims, judgments, damages
or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or allegedly untrue statement
of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was registered
under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement
or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or the alleged omission
to state a material fact required to be stated therein or necessary to make the statement therein not misleading, if the statement
or omission was made in reliance upon and in conformity with information furnished in writing to the Company by such selling holder
expressly for use therein, and shall reimburse the Company, its directors and officers, and each other selling holder or controlling
person for any legal or other expenses reasonably incurred by any of them in connection with investigating or defending any such
loss, claim, damage, liability or action. Each selling holder’s indemnification obligations hereunder shall be several and
not joint and shall be limited to the amount of any net proceeds actually received by such selling holder from the sale of Registrable
Securities pursuant to such Registration Statement. Each selling holder of Registrable Securities shall indemnify any Underwriter
of the Registrable Securities, their officers, affiliates, directors, partners, members and agents and each person who controls
such Underwriter to the same extent as provided in the foregoing with respect to indemnification of the Company.


 






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4.3 Conduct
of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage
or liability or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person
(the “Indemnified Party”) shall, if a claim in respect thereof is to be made against any other person
for indemnification hereunder, notify such other person (the “Indemnifying Party”) in writing of the
loss, claim, judgment, damage, liability or action; provided, however, that the failure by the Indemnified Party to notify
the Indemnifying Party shall not relieve the Indemnifying Party from any liability which the Indemnifying Party may have to such
Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually prejudiced by such failure. If
the Indemnified Party is seeking indemnification with respect to any claim or action brought against the Indemnified Party, then
the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent that it wishes, jointly with
all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory to the Indemnified Party. After
notice from the Indemnifying Party to the Indemnified Party of its election to assume control of the defense of such claim or
action, the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred
by the Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided, however,
that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified Party
shall have the right to employ separate counsel (but no more than one such separate counsel) to represent the Indemnified Party
and its controlling persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought
by the Indemnified Party against the Indemnifying Party, with the fees and expenses of such counsel to be paid by such Indemnifying
Party if, based upon the written opinion of counsel of such Indemnified Party, representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between them. No Indemnifying Party shall, without the prior
written consent of the Indemnified Party, consent to entry of judgment or effect any settlement of any claim or pending or threatened
proceeding in respect of which the Indemnified Party is or could have been a party and indemnity could have been sought hereunder
by such Indemnified Party, unless such judgment or settlement includes an unconditional release of such Indemnified Party from
all liability arising out of such claim or proceeding.


 


4.4
Contribution.


 


4.4.1 If
the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified
Party in respect of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu
of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of
such loss, claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified
Parties and the Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability
or action, as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying
Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by such Indemnified Party or such
Indemnifying Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.


 






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4.4.2 The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined
by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to in the immediately preceding Section 4.4.1. The amount paid or payable by an Indemnified Party as a result
of any loss, claim, damage, liability or action referred to in the immediately preceding paragraph shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Party in connection with
investigating or defending any such action or claim. Notwithstanding the provisions of this Section 4.4, no holder of Registrable
Securities shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after payment of any
underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale of Registrable Securities which
gave rise to such contribution obligation. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.


 


4.5
Survival. The indemnification provided for under this Agreement shall remain in full force and effect
regardless of any investigation made by or on behalf of the Indemnified Party or any officer, director or controlling person of
such Indemnified Party and shall survive the transfer of securities.


 


Article
V



UNDERWRITING AND DISTRIBUTION


 


5.1 Rule
144. The Company covenants that it shall file any reports required to be filed by it under the Securities
Act and the Exchange Act and shall take such further action as the holders of Registrable Securities may reasonably request, all
to the extent required from time to time to enable such holders to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, as such rules
may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission.


 






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Article
VI



MISCELLANEOUS


 


6.1 Other
Registration Rights. The Company represents and warrants that no person, other than a holder of Registrable
Securities, has any right to require the Company to register any shares of the Company’s capital stock for sale or to include
shares of the Company’s capital stock in any Registration filed by the Company for the sale of shares of capital stock for
its own account or for the account of any other person. Further, the Company represents and warrants that this Agreement supersedes
any other registration rights agreement or agreement with similar terms and conditions and, in the event of a conflict between
any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.


 


6.2 Assignment;
No Third-Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder
may not be assigned or delegated by the Company in whole or in part. Prior to the expiration of the Founder Shares Lock-up Period
or the Private Placement Lock-up Period, as the case may be, no Investor may assign or delegate such Investor’s rights,
duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities
by such Investor to a Permitted Transferee, but only if such Permitted Transferee agrees to become bound by the transfer restrictions
set forth in this Agreement. This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of
each of the parties and the permitted assigns of the Investor or holder of Registrable Securities or of any assignee of the Investor
or holder of Registrable Securities. This Agreement is not intended to confer any rights or benefits on any persons that are not
party hereto other than as expressly set forth in Article 4 and this Section 6.2. No assignment by any party hereto
of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until
the Company shall have received (i) written notice of such assignment and (ii) the written agreement of the assignee, in a form
reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by
an addendum or certificate of joinder to this Agreement).


 


6.3 Notices.
All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be
personally served, delivered by reputable air courier service with charges prepaid or transmitted by hand delivery, electronic
mail or facsimile, addressed as set forth below, or to such other address as such party shall have specified most recently by
written notice. Notice shall be deemed given on the date of service or transmission if personally served or transmitted by electronic
mail or facsimile; provided, that if such service or transmission is not on a business day or is after normal business
hours, then such notice shall be deemed given on the next business day. Notice otherwise sent as provided herein shall be deemed
given on the next business day following timely delivery of such notice to a reputable air courier service with an order for next-day
delivery.


 


To
the Company:


 


Capitol
Investment Corp. V

1300 17th Street North,

Suite 820

Arlington, Virginia 22209

Attn: Mark D. Ein, Chief Executive Officer


 






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with
a copy to:


 


Latham
& Watkins LLP

555 Eleventh Street N.W.,

Suite 1000

Washington, District of Columbia 20004

Attn: Rachel W. Sheridan; Jason M. Licht


 


To
an Investor, to such Investor’s address, e-mail address or facsimile number as found in the Company’s books and records.
Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto.


 


6.4 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 that is valid and enforceable.


 


6.5 Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed
an original, and all of which taken together shall constitute one and the same instrument.


 


6.6 Entire
Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and
instruments delivered pursuant hereto and thereto) constitutes the entire agreement of the parties with respect to the subject
matter hereof and supersedes all prior and contemporaneous agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written.


 


6.7 Modifications
and Amendments. Upon the written consent of the Company and the holders of at least 662⁄3% of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement
may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding
the foregoing, any amendment hereto or waiver hereof that adversely affects one holder of Registrable Securities, solely in its
capacity as a holder of capital stock of the Company, in a manner that is materially different from the other holders of Registrable
Securities (in such capacity) shall require the consent of the holder so affected. No course of dealing between any holders of
Registrable Securities or the Company and any other party hereto or any failure or delay on the part of a holder of Registrable
Securities or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or
remedies of any holder of Registrable Securities or the Company. No single or partial exercise of any rights or remedies under
this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder
by such party.


 


6.8 Titles
and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect
the construction of any provision of this Agreement.


 






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6.9 Waivers
and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the
right to waive; provided that such waiver will not be effective against the waiving party unless it is in writing, is signed
by such party and specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or
the breach or default waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision
herein contained shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision
herein contained. No waiver or extension of time for performance of any obligations or acts shall be deemed a waiver or extension
of the time for performance of any other obligations or acts.


 


6.10 Remedies
Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed
or performed under this Agreement, the Investor or any other holder of Registrable Securities may proceed to protect and enforce
its rights by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for
an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce
any other legal or equitable right, or to take any one or more of such actions, without being required to post a bond. None of
the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement or now or hereafter
available at law, in equity, by statute or otherwise.


 


6.11 Governing
Law. This Agreement shall be governed by, interpreted under and construed in accordance with the internal
laws of the State of New York applicable to agreements made and to be performed within the State of New York, without giving effect
to any choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction.


 


6.12 Waiver
of Trial by Jury. Each party hereby irrevocably and unconditionally waives the right to a trial by jury in
any action, suit, counterclaim or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with
or relating to this Agreement, the transactions contemplated hereby, or the actions of the Investors in the negotiation, administration,
performance or enforcement hereof.


 


[Signature
Pages Follow]


 






    19


     


    

 





IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered by their duly authorized representatives
as of the date first written above.


 





	 	CAPITOL INVESTMENT CORP. V
	 	 
	 	By:	                                             
	 	Name:
	 	Title:
	 	 
	 	INVESTORS:
	 	 
	 	CAPITOL ACQUISITION MANAGEMENT V LLC
	 	 
	 	By:	 
	 	Name:  	 
	 	Title:
	 	 
	 	CAPITOL ACQUISITION FOUNDER V LLC
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	LAWRENCE CALCANO
	 	 
	 	
	 	 
	 	RICHARD C. DONALDSON
	 	 
	 	
	 	 
	 	RAUL J. FERNANDEZ
	 	
	 	 
	 	 
	 	THOMAS SIDNEY SMITH, JR.
	 	 
	 	


 


[Signature Page
to Registration Rights Agreement]