Document:

EX-10.3

 Exhibit 10.3 

As of July 11, 2019 

Gentlemen: 
 Pivotal Investment Corporation II
(“Corporation”), a blank check company formed for the purpose of acquiring one or more businesses or entities (a “Business Combination”), intends to register its securities under the Securities Act of 1933, as amended
(“Securities Act”), in connection with its initial public offering (“IPO”). 
 The undersigned hereby commits to
purchase an aggregate of 3,833,333 warrants of the Corporation (“Initial Warrants”), each Initial Warrant to purchase one share of Class A common stock, par value $0.0001 per share, of the Corporation at $1.50 per Initial Warrant, for
an aggregate purchase price of $5,750,000 (the “Initial Purchase Price”). Additionally, if the underwriters in the IPO exercise their over-allotment option in full or part, the undersigned further commits to purchase up to an additional
400,000 warrants (“Additional Warrants” and together with the Initial Warrants, the “Private Warrants”) at $1.50 per Additional Warrant for an aggregate purchase price of up to $600,000 (the “Over-Allotment Purchase
Price” and together with the Initial Purchase Price, the “Purchase Price”). At least 24 hours prior to the effective date (“Effective Date”) of the Corporation’s registration statement filed in connection with the IPO
(“Registration Statement”), the undersigned will cause the Purchase Price to be delivered to Graubard Miller, counsel for the Corporation (“Counsel”), by wire transfer as set forth in the instructions attached as Exhibit A to
hold in a non-interest bearing account until the Corporation consummates the IPO.  

The consummation of the purchase and issuance of the Initial Warrants and Additional Warrants (if any) shall occur simultaneously with the
consummation of the IPO and over-allotment option, respectively. Simultaneously with the consummation of the IPO, Counsel shall deposit the Initial Purchase Price, without interest or deduction, into the trust fund (“Trust Fund”)
established by the Corporation for the benefit of the Corporation’s public shareholders as described in the Registration Statement. Simultaneously with the consummation of all or any part of the over-allotment option, Counsel shall deposit the pro-rata portion of the Over-Allotment Purchase Price, based upon the amount of the over-allotment option that has been exercised, without interest or deduction, into the Trust Fund. Upon expiration of the
over-allotment option, Counsel shall return any unused portion of the Over-Allotment Purchase Price to the undersigned. If the Corporation does not complete the IPO within fourteen (14) days from the Effective Date, the Purchase Price (without
interest or deduction) will be returned to the undersigned. 
 Each of the Corporation and the undersigned acknowledges and agrees that
Counsel is serving hereunder solely as a convenience to the parties to facilitate the purchase of the Private Warrants and Counsel’s sole obligation under this letter agreement is to act with respect to holding and disbursing the Purchase Price
for the 

 
Private Warrants as described above. Counsel shall not be liable to the Corporation or the undersigned or any other person or entity in respect of any act or failure to act hereunder or otherwise
in connection with performing its services hereunder unless Counsel has acted in a manner constituting gross negligence or willful misconduct. The Corporation and the undersigned, jointly and severally, shall indemnify Counsel against any claim made
against it (including reasonable attorney’s fees) by reason of it acting or failing to act in connection with this letter agreement except as a result of its gross negligence or willful misconduct. Counsel may rely and shall be protected in
acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties. 

The Private Warrants will be identical to the warrants included in the units to be sold by the Corporation in the IPO, except that: 

 

	 	●	 	 the Private Warrants will not be transferable (except to (i) the Corporation’s initial shareholders,
officers, directors, consultants or their affiliates, (ii) an initial shareholder’s members upon its liquidation, (iii) relatives and trusts for estate planning purposes, (iv) by virtue of the laws of descent and distribution
upon death, (v) pursuant to a qualified domestic relations order, (vi) the Corporation for no value for cancellation in connection with the consummation of an initial Business Combination, or (vii) in connection with the consummation
of a Business Combination at prices no greater than the price at which the Private Warrants were originally purchased, in each case (except for clause (vi) or with the Corporation’s prior consent) where the transferee agrees to these
transfer restrictions) until 30 days after the completion of a Business Combination; 

  

	 	●	 	 the Private Warrants (and underlying securities) will be subject to customary registration rights, which shall be
described in the Registration Statement; 

  

	 	●	 	 the Private Warrants will not be redeemable and will be exercisable on a cashless basis so long as they are held
by the undersigned or its permitted transferees; and 

  

	 	●	 	 the Private Warrants will include any additional terms or restrictions as is customary in other similarly
structured blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate the IPO, each of which will be set forth in the Registration Statement. 

 The undersigned hereby represents and warrants that: 

 

	 	(a)	 it has been advised that the Private Warrants have not been registered under the Securities Act;

  

	 	(b)	 it is acquiring the Private Warrants for its account for investment purposes only; 

 

	 	(c)	 it has no present intention of selling or otherwise disposing of the Private Warrants in violation of the
securities laws of the United States; 

  

	 	(d)	 it is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the
Securities Act of 1933, as amended; 

  

	 	(e)	 it has had both the opportunity to ask questions and receive answers from the officers and directors of the
Corporation and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder; 

  

	 	(f)	 it is familiar with the proposed business, management, financial condition and affairs of the Corporation;

  

	 	(g)	 it has full power, authority and legal capacity to execute and deliver this letter and any documents
contemplated herein or needed to consummate the transactions contemplated in this letter; and 

  

	 	(h)	 this letter constitutes the legal, valid and binding obligation of the undersigned and is enforceable against
it. 

 
			
		 	 Very truly yours,
		
	    	 	 PIVOTAL INVESTMENT HOLDINGS II LLC

 
			
		
	By: 	 	 /s/ Jonathan J. Ledecky

	 	 	Name: Jonathan J. Ledecky
	 	 	 Title:  Chairman, Ironbound Partners Fund, LLC,

           its managing member

  

			
	Accepted and Agreed:
	
	PIVOTAL INVESTMENT CORPORATION II

			
		
	By:	 	 /s/ Jonathan J. Ledecky

	 	 	Name: Jonathan J. Ledecky
	 	 	Title: Chairman and Chief Executive Officer

  

			
	GRAUBARD MILLER
	(solely with respect to its obligations to hold
and disburse monies for the Private Warrants)

			
		
	By:	 	 /s/ Jeffrey Gallant

		 	Name: Jeffrey Gallant
		 	Title: Partner

 Exhibit AEX-10.4

 Exhibit 10.4 

July 11, 2019 
  

			
	 Re: Forward Purchase Contract

 Ladies and Gentlemen: 
 We are
pleased to accept the offer Pivotal Spac Funding II LLC (the “Subscriber” or “you”) has made to purchase up to an aggregate of $150,000,000 of securities of Pivotal Investment Corporation II, a Delaware corporation
(the “Company”), in connection with the Company’s initial Business Combination (as defined below). The securities to be purchased pursuant hereto are hereinafter collectively referred to as the “Securities.”
The Company and the Subscriber’s agreements regarding such Securities are set forth in this agreement (this “Agreement”) and are as follows: 

1. Purchase of the Securities. The purchase price for the Securities (the “Purchase Price”) shall be up to an aggregate
purchase price of $150,000,000. The type and amount of Securities to be purchased by the Subscriber shall be determined by the mutual agreement between the Subscriber and the Company at the time the Company enters into the definitive agreement for
the proposed Business Combination. In exchange for the Purchase Price, the Company agrees to sell the Securities to the Subscriber, and the Subscriber hereby agrees to purchase the Securities from the Company, in a private placement, subject to the
terms and subject to the conditions set forth in this Agreement and as may hereafter be agreed to by the Company and the Subscriber. 
 2.
Representations, Warranties and Agreements. 
 2.1 Subscriber’s Representations, Warranties and Agreements. To induce the
Company to issue the Securities to the Subscriber, the Subscriber hereby represents and warrants to the Company and agrees with the Company as follows: 

2.1.1 No Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any
recommendation or endorsement of the offering of the Securities. 
 2.1.2 No Conflicts. The execution, delivery and performance of this
Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any agreement, indenture
or instrument to which the Subscriber is a party, (iii) any law, statute, rule or regulation to which the Subscriber is subject, or (iv) any agreement, order, judgment or decree to which the Subscriber is subject. 

2.1.3 Organization and Authority. The Subscriber is a limited liability company. Subscriber possesses all requisite corporate power and
authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by Subscriber, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with its
terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of
whether enforcement is sought in a proceeding at law or in equity). 
 2.1.4 Experience, Financial Capability and Suitability. Subscriber
is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities and protect its own interests and (ii) able to bear the economic risk of its investment in the Securities for an
indefinite period of time because the Securities have not been registered under the Securities Act of 1933, as amended (“Securities Act”) and therefore cannot be sold by Subscriber unless subsequently registered under the Securities
Act or an exemption from such registration is available. Subscriber is able to afford a complete loss of Subscriber’s investment in the Securities. 

2.1.5 Access to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the opportunity to ask
questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due
diligence investigation and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant to this Agreement
and Subscriber has not relied on any other representations or information in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects. 

 2.1.6 Regulation D Offering. Subscriber represents that it is an “accredited
investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under federal or state law. 
 2.1.7 Investment
Purposes. The Subscriber is purchasing the Securities solely for investment purposes and not with a view towards the further distribution or dissemination thereof. The Subscriber did not decide to enter into this Agreement as a result of any
general solicitation or general advertising within the meaning of Rule 502 under the Securities Act. 
 2.1.8 Restrictions on Transfer; Shell
Company. Subscriber understands the Securities are being offered in a transaction not involving a public offering within the meaning of the Securities Act. Subscriber understands the Securities will be “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that any certificates representing the Securities will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell,
pledge or otherwise transfer the Securities, such securities may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber
agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company.
Absent registration or an exemption, the Subscriber agrees not to resell the Securities. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale of the Securities
until one (1) year following consummation of the Business Combination, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions. 

2.1.9 No Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement. 
 2.2 Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Securities, the Company hereby represents and warrants to the Subscriber and agrees with the Subscriber as follows: 

2.2.1 Organization and Corporate Power. The Company is a Delaware corporation. The Company possesses all requisite corporate power and
authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by the Company of this Agreement, the Agreement will constitute a legal, valid and binding agreement of the Company, enforceable against
the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general
principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). 
 2.2.2 No Conflicts. The
execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or Bylaws of the
Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation to which the Company is subject, or (iv) any agreement, order, judgment or decree to which the Company
is subject. 
 2.2.3 Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Securities
will be duly and validly issued, fully paid and non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the Subscriber will have or receive good title to the
Securities, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions under federal and state securities laws, and (b) liens, claims or encumbrances imposed due to the actions of the Subscriber.

 2.2.4 No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the
Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity or legality of any transactions or seeks to recover damages or to
obtain other relief in connection with any transactions. 

 2.2.5 No Governmental Consents. No governmental, administrative or other third party
consents or approvals are required, necessary or appropriate on the part of the Company in connection with the transactions contemplated by this Agreement, other than the filing of a Form D with the Securities and Exchange Commission and such
state Blue Sky, FINRA and NASDAQ consents and approvals as may be required. 
 2.2.6 No General Solicitation.: No form of general
solicitation or general advertising within the meaning of Regulation D of the U.S. Securities Act (including, but not limited to, advertisements, articles, notices or other communications published in any newspaper, magazine or similar medium or
broadcast over television or radio, or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising) was used by the Company or any of its representatives in connection with the offer and sale of the
Securities. 
 2.2.8 No Brokers. No broker, finder or similar intermediary has acted for or on behalf of the Company or any of its
affiliates in connection with this Agreement or the transactions contemplated hereby and no broker, finder, agent or similar intermediary is entitled to any broker’s, finder’s or similar fee or other commission in connection therewith.

 3. Settlement Date and Delivery. 

3.1 Closing of Purchase of Securities. The consummation and settlement of the forward purchase contract for the purchase and sale of the
Securities hereunder (the “Closing”) shall be held at the same date and immediately prior to the closing of the Business Combination (the date of the Closing being referred to as the “Closing Date”). No later than
the execution of the definitive agreement for the proposed Business Combination, the Company and the Subscriber will use their reasonable efforts to agree as to the type and amount of Securities the Subscriber will purchase hereunder (subject to a
maximum of $150,000,000 of Securities). In the absence of an agreement within such time period, the Subscriber shall not be obligated to purchase any Securities. At the Closing, the Company will issue to the Subscriber the Securities being purchased
hereunder, registered in the name of the Subscriber, against delivery of the Purchase Price in cash via wire transfer to an account specified in writing by the Company no later than two business days prior to the Closing. 

3.2 Conditions to Closing of the Company. 

The Company’s obligations to sell and issue the Securities at the Closing are subject to the fulfillment of the following conditions: 

3.2.1 Representations and Warranties Correct. The representations and warranties made by the Subscriber in Section 2 hereof shall be
true and correct in all material respects when made and shall be true and correct in all material respects on and as of the Closing Date and closing of the Company’s initial public offering (“IPO”), as the case may be, (unless
they specifically speak as of another date in which case they shall be true and correct in all material respects as of such date) with the same force and effect as if they had been made on and as of said date. 

3.2.2 Covenants. All covenants, agreements and conditions contained in this Agreement to be performed by the Subscriber on or prior to the
Closing Date shall have been performed or complied with in all material respects. 
 3.2.3 Blue Sky. The Company shall have obtained all
necessary Blue Sky law permits and qualifications, or secured an exemption therefrom, required by any state for the offer and sale of the Securities. 

3.2.4 Ancillary Agreements. All Ancillary Agreements (defined below) to be signed by Subscriber pursuant to hereto shall have been executed
by Subscriber. 
 3.3 Conditions to Closing of the Subscriber. 

The Subscriber’s obligation to purchase the Securities at the Closing is subject to the fulfillment on or prior to the Closing Date of each of the
following conditions: 
 3.3.1 Representations and Warranties Correct. The representations and warranties made by the Company in
Section 2 hereof shall be true and correct in all material respects when made and shall be true and correct in all material respects on and as of the Closing Date and closing of the IPO, as the case may be (unless they specifically speak as of
another date in which case they shall be true and correct in all material respects as of such date), with the same force and effect as if they had been made on and as of said date. 

3.3.2 Covenants. All covenants, agreements and conditions contained in this Agreement to be performed by the Company on or prior to the
Closing Date shall have been performed or complied with in all material respects. 

 3.3.3 Blue Sky. The Company shall have obtained all necessary Blue Sky law permits and
qualifications, or secured an exemption therefrom, required by any state for the offer and sale of the Securities. 
 3.3.4 Registration
Rights Agreement. The Company and Subscriber shall have entered into a registration rights agreement (the “Registration Rights Agreement”) with respect to the Securities, together with the securities issued to Pivotal Investment
Holdings II LLC. 
 3.3.6 IPO Closing. The Company shall have consummated the IPO. 

3.3.7 Business Combination. The Company’s proposed initial merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or entities (the “Business Combination”) shall have been approved by unanimous vote of the Board of Directors of the Company and the conditions to the closing of the
Business Combination, including the approval of the Company’s stockholders, if applicable, shall have been satisfied or waived. 
 3.3.8 Due
authorization. Upon issuance, all shares of common stock of the Company comprising all or a portion of the Securities shall be duly and validly authorized and issued, fully paid and nonassesable. Upon issuance, all warrants of the Company
comprising all or a portion of the Securities shall be valid and binding obligations of the Company, enforceable in accordance with their terms. Upon the issuance of any such warrants, all shares of common stock issuable upon exercise thereof shall
have been reserved for issuance upon the exercise of the warrants and such shares, upon issuance, shall be duly and validly authorized and issued, fully paid and nonassesable. Upon issuance, all debt securities of the Company comprising all or a
portion of the Securities shall be valid and binding obligations of the Company, enforceable in accordance with their terms, and the issuance thereof, and performance of the Company’s obligations thereunder, shall not (a) conflict with or
violate any provision of the Company’s amended and restated certificate of incorporation, as then in effect, (b) conflict with or violate in any material way any law, order or consent applicable to the Company or any of its properties or
assets, or (c) (i) violate, conflict with or result in a material breach of, (ii) constitute a material default (or an event which, with notice or lapse of time or both, would constitute a material default) under, (iii) result in the
termination, withdrawal, suspension, cancellation or modification of, (iv) accelerate the performance required by the Company under, (v) result in a right of termination or acceleration under, (vi) give rise to any obligation to make
material payments or provide compensation under, (vii) result in the creation of any material lien or encumbrance upon any of the properties or assets of the Company under, (viii) give rise to any material obligation to obtain any third
party consent or provide any notice to any person or entity or (ix) give any person or entity the right to declare a material default, exercise any remedy, claim a rebate, chargeback, penalty or change in delivery schedule, accelerate the
maturity or performance, cancel, terminate or modify any right, benefit, obligation or other term under, any of the terms, conditions or provisions of, any agreement, commitment or obligation of the Company. 

4. Intentionally Omitted. 

5. Restrictions on Transfer. Subscriber hereby agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of
the Securities unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Securities proposed to be transferred shall then be effective or
(b) the Company has received an opinion of counsel for the Company that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange
Commission thereunder and under all applicable state securities laws. All certificates representing the Securities shall have endorsed thereon a legend substantially as follows: 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE
SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS
WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.” 
 The Company agrees to cause its counsel to deliver an opinion to the Company’s transfer agent
directing the removal of the foregoing legends once able to do so pursuant to applicable securities laws. 

 6. Other Agreements. 

6.1 Further Assurances. Each of the Company and the Subscriber agrees to execute such further instruments and to take such further action as
may reasonably be necessary to carry out the intent of this Agreement. 
 6.2 Notices. All notices, statements or other documents which
are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent by first class registered or certified mail or overnight courier service, (ii) by facsimile and (iii) by electronic mail, in each
case to the address, facsimile number or email address as set forth on the signature page hereto. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail. 

6.3 Entire Agreement. This Agreement, together with those certain agreements to be entered into between the Subscriber (and/or its
affiliates) and the Company in connection with the IPO, including but not limited to an insider letter, a subscription agreement governing the purchase of shares and warrants of the Company prior to and simultaneously with the closing of the IPO and
Registration Rights Agreement (collectively, the “Ancillary Agreements”), each substantially in the form to be filed as an exhibit to the registration statement relating to the IPO (“Registration Statement”),
embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

6.4 Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed
by all parties hereto. 
 6.5 Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the
departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms
or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

6.6 Assignment. The rights and obligations under this Agreement may not be assigned by any of the parties hereto without the prior written
consent of the other parties; provided that Subscriber may assign its rights and obligations to an affiliate without the prior consent of the other parties. 

6.7 Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall
be regarded as a third-party beneficiary of this Agreement. 
 6.8 Governing Law. This Agreement and the rights and obligations of the
parties hereunder shall be construed in accordance with and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof. 

6.9 Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof,
contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and
effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and effect. 

6.10 No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this
Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any
abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a
party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required 

 
under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
party giving such notice or demand to any other or further action in any circumstances without such notice or demand. 
 6.11 Survival of
Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery
hereof and any investigations made by or on behalf of the parties. 
 6.12 Headings and Captions. The headings and captions of the
various subdivisions of this Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 

6.13 Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and
the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof. 
 6.14 Construction. The words “include,” “includes,” and
“including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed
to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of
similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent significance. If
any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels
of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant. 

6.15 Mutual Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to
the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto. 

7. Indemnification. Each party shall indemnify the other against any reasonable loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement. 

8. Term. The Subscriber’s obligation to acquire the Securities hereunder, and the Company’s obligation to sell the Securities
hereunder, shall be in effect until the earlier of (i) the consummation of the Business Combination within the time frame permitted by the Company’s amended and restated certificate of incorporation (the “Charter”), which,
as of the date hereof, is expected to be 24 months from the consummation of the IPO, including any extensions beyond such term effected pursuant to the terms of the Charter, and (ii) the liquidation of the Company in the event that the Company
is unable to consummate the Business Combination within the time frame permitted by the Charter (including any extensions). 

9. Disclosure. The Subscriber hereby acknowledges that (i) the terms of this Agreement will be disclosed in the Registration
Statement, (ii) this Agreement will be filed with the Securities and Exchange Commission as an exhibit to the Registration Statement and (iii) the Company will disclose the terms of this Agreement to potential IPO investors and to
potential Business Combination targets. 
 10. Waiver of Claims Against Trust. The Subscriber hereby acknowledges that it is aware that
the Company will establish a trust account (the “Trust Account”) for the benefit of its public stockholders upon the closing of the IPO. The Subscriber, for itself and its affiliates, hereby agrees that it has no right, title,
interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Subscriber may have in respect of
any shares issued as part of the units sold in the IPO (“Public Shares”) held by the Subscriber. The Subscriber hereby agrees that it shall have no right of set-off or any right,
title, interest or claim of any kind (“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may

 
have now or in the future, except for redemption and liquidation rights, if any, the Subscriber may have in respect of any Public Shares held by the Subscriber; provided, however, that the
foregoing shall not restrict Subscriber from bringing any claim Subscriber may have against the Company against the Company (or any successor entity) following consummation of a Business Combination or against any funds held by the Company outside
of the Trust Account prior to the consummation of a Business Combination. 
 [Signature Page Follows] 

 If the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of
this Agreement and return it to us. 
 Accepted and agreed this 11th day of July, 2019. 

 

	
	PIVOTAL INVESTMENT CORPORATION II
	
	By: /s/ Jonathan J. Ledecky
	Name: Jonathan J. Ledecky
	Title: Chairman and Chief Executive Officer
	 Address: c/o Graubard Miller

               405 Lexington Ave, 11th Fl,

               New York, NY 10174

	Email: jledecky@hockeyny.com
	
	PIVOTAL SPAC FUNDING II LLC
	
	By: /s/ Kevin F. Griffin
	Name: Kevin F. Griffin
	Title: Director
	 Address: One Penn Plaza, 53rd St.,

               New York, NY 10119

	Facsimile: 646-669-7198
	Email: kgriffin@pivotalac.com

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