Document:

Exhibit 10.2

 

Execution Version

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of January 31, 2021, is made and entered into by and among:

 

(i) Otonomo
Technologies Ltd., a company organized under the laws of Israel (the “Company”);

 

(ii) the
equityholders of  Software Acquisition Group Inc. II, a Delaware corporation (the “SPAC”),
and designated on Schedule A as SPAC Holders that will receive Ordinary Shares (as defined below) pursuant to the transactions
contemplated by the Business Combination Agreement (as defined below) (the “SPAC Holders”); and

 

(iii) the
equityholders of the Company designated on Schedule B hereto as Otonomo Equityholders (collectively, the “Otonomo
Equityholders” and, together with the SPAC Holders and any person or entity who hereafter becomes a party to this
Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS, pursuant
to that certain Business Combination Agreement, dated as of January 31, 2021 (as it may be amended, supplemented, restated or otherwise
modified from time to time, the “Business Combination Agreement”), by and among the Company, SPAC and
Butterbur Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“Merger Sub”),
Merger Sub will merge with and into SPAC, with SPAC continuing as the surviving entity and a wholly-owned subsidiary of the Company
(the “Merger”); and

 

WHEREAS, in
connection with the consummation of the transactions described above (the “Transactions”), the Company
and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration
rights with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

Article
I

Definitions

 

1.1 Definitions.
The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Action”
means any claim, action, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any proceeding or investigation,
by or before any Governmental Authority.

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer of the Company or the Board, 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, declared
effective or used, as the case may be, and (iii) the Company has a bona fide business purpose for not making such information
public.

 

     

     

    

 

“Agreement”
shall have the meaning given in the Preamble hereto.

 

“Block Trade”
shall have the meaning given in Section 2.4.1.

 

“Board”
means the board of directors of the Company.

 

“Business
Combination Agreement” shall have the meaning given in the Recitals hereto.

 

“Closing
Date” shall have the meaning given in the Business Combination Agreement.

 

“Closing”
shall have the meaning given in the Business Combination Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Company”
shall have the meaning given in the Recitals hereto and includes the Company’s successors by recapitalization, merger, consolidation,
spin-off, reorganization or similar transaction.

 

“Demanding
Holder” shall have the meaning given in Section 2.1.4.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority Inc.

 

“Form F-1
Shelf” shall have the meaning given in Section 2.1.1.

 

“Form F-3
Shelf” shall have the meaning given in Section 2.1.1.

 

“Governmental
Authority” means any federal, state, provincial, municipal, local or foreign government, governmental authority,
regulatory or administrative agency (which for the purposes of this Agreement shall include FINRA and the Commission), governmental
commission, department, board, bureau, agency or instrumentality, court or tribunal.

 

“Governmental
Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered
by or with any Governmental Authority.

 

“Holder Information”
shall have the meaning given in Section 4.1.2.

 

“Holders”
shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

“Law”
means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority.

 

“Lockup Agreement”
shall mean the Confidentiality and Lockup Agreement, dated as of January 31, 2021, by and among the Company and the other parties
thereto, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

 

    2

     

    

 

“Lock-Up
Period” shall have the meaning given in the Lockup Agreement.1

 

“Maximum
Number of Securities” shall have the meaning given in Section 2.1.5.

 

“Merger”
shall have the meaning given in the Recitals hereto.

 

“Minimum
Takedown Threshold” shall have the meaning given in Section 2.1.4.

 

“Misstatement”
shall mean 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 in a Registration Statement or Prospectus, (in the case of a Prospectus,
in the light of the circumstances under which they were made) not misleading.

 

“Ordinary
Shares” shall mean the ordinary shares of the Company, no par value.

 

“Otonomo
Equityholders” shall have the meaning given in the Preamble hereto.

 

“Permitted
Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer
such Registrable Securities prior to the expiration of the Lock-up Period pursuant to the Lockup Agreement.

 

“Piggyback
Registration” shall have the meaning given in Section 2.2.1.

 

“Plan of
Distribution” shall have the meaning given in Section 2.2.1.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) any outstanding Ordinary Shares held by a Holder immediately following the Closing (including
Ordinary Shares distributable pursuant to the Business Combination Agreement), (b) any Ordinary Shares that may be acquired by
Holders upon the exercise of a warrant or other right to acquire Ordinary Shares held by a Holder immediately following the Closing,
(c) any Ordinary Shares or warrants to purchase Ordinary Shares (including any Ordinary Shares issued or issuable upon the exercise
of any such warrant) of the Company otherwise acquired or owned by a Holder following the date hereof to the extent that such securities
are “restricted securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined
in Rule 144) of the Company and for so long as the Holder may be deemed to be an Underwriter pursuant to Rule 145(c), and (d) any
other equity security of the Company or any of its subsidiaries issued or issuable with respect to any securities referenced in
clause (a), (b) or (c) above by way of a stock dividend or stock split or in connection with a recapitalization, merger, consolidation,
spin-off, reorganization or similar transaction; provided, however, that, as to any particular Registrable Security,
such securities shall cease to be Registrable Securities upon the earliest to occur of: (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 by the applicable Holder; (B) such securities shall have
ceased to be outstanding; (C) such securities may be sold without registration pursuant to Rule 144 or any successor rule promulgated
under the Securities Act (but with no requirement to maintain current public information or volume or other restrictions or limitations
including as to manner or timing of sale); and (D) such securities have been sold to, or through, a broker, dealer or underwriter
in a public distribution or other public securities transaction.

 

 

		1	The lock up in the Articles only applies to legacy Otonomo
shareholders. This definition applies to everyone signing this agreement, so doesn’t work to pull it in here.

 

    3

     

    

 

“Registration”
shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, prospectus
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.

 

“Registration
Expenses” shall mean the expenses of a Registration, including, without limitation, the following:

 

(A) all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and fees of any national securities exchange on which the Ordinary Shares are then listed;

 

(B) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for
the Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C) printing,
messenger, telephone and delivery expenses;

 

(D) reasonable
fees and disbursements of counsel for the Company;

 

(E) reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with
such Registration; and

 

(F) reasonable
fees and expenses of one legal counsel selected by the majority-in-interest of the securities requested to be registered by the
Demanding Holders in an Underwritten Offering (not to exceed $35,000 without the consent of the Company).

 

“Registration
Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions of
this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration
statement.

 

“Requesting
Holders” shall have the meaning given in Section 2.1.5.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf”
shall mean the Form F-1 Shelf, the Form F-3 Shelf or any Subsequent Shelf Registration, as the case may be.

 

“Shelf
Registration” shall mean a registration of securities pursuant to a registration statement filed with the Commission
in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Shelf
Takedown” shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement,
including a Piggyback Registration.

 

“SPAC Holders”
shall have the meaning given in the Preamble.

 

“Subsequent
Shelf Registration” shall have the meaning given in Section 2.1.2.

 

    4

     

    

 

“Transactions”
shall have the meaning given in the Recitals hereto.

 

“Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with
respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal and not as part of such dealer’s market-making
activities.

 

“Underwritten
Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment
underwriting for distribution to the public.

 

“Underwritten
Shelf Takedown” shall have the meaning given in Section 2.1.4.

 

“Withdrawal
Notice” shall have the meaning given in Section 2.1.6.

 

Article
II

Registrations and Offerings

 

2.1 Shelf Registration.

 

2.1.1 Filing.
The Company shall file within twenty (20) business days after the Closing Date, and use commercially reasonable efforts to cause
to be declared effective as soon as practicable thereafter, a Registration Statement for a Shelf Registration on Form F-1 (the
“Form F-1 Shelf”) or, if the Company is eligible to use a Registration Statement on Form F-3, a Shelf
Registration on Form F-3 (the “Form F-3 Shelf”), in each case, covering the resale of all the Registrable
Securities (determined as of two business days prior to such filing) on a delayed or continuous basis. Such Shelf shall provide
for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available
(the “Plan of Distribution”) to, and requested by, any Holder named therein. The Company shall, upon
request by any Holder named therein, use commercially reasonable efforts to engage an underwriter or underwriters reasonably acceptable
to the majority-in-interest of the Registrable Securities to participate in the preparation of the Shelf to enable the Holders
to resell Registrable Securities pursuant to the Plan of Distribution. The Company shall maintain a Shelf in accordance with the
terms hereof, and shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as
may be necessary to keep a Shelf continuously effective, available for use and in compliance with the provisions of the Securities
Act until such time as there are no longer any Registrable Securities. In the event the Company files a Form F-1 Shelf, the Company
shall use its commercially reasonable efforts to convert the Form F-1 Shelf (and any Subsequent Shelf Registration) to a Form F-3
Shelf as soon as practicable after the Company is eligible to use Form F-3.

 

    5

     

    

 

2.1.2 Subsequent
Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts
to as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including obtaining
the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable efforts
to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any
order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent
Shelf Registration”) registering the resale of all Registrable Securities (determined as of two business days prior
to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named
therein. The Company shall, upon request by any Holder named therein, use commercially reasonable efforts to engage an underwriter
or underwriters reasonably acceptable to the majority-in-interest of the Registrable Securities to participate in the preparation
of the Shelf to enable the Holders to resell Registrable Securities pursuant to the Plan of Distribution. If a Subsequent Shelf
Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration
to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof (it being agreed
that the Subsequent Shelf Registration shall be an automatic shelf registration statement (as defined in Rule 405 promulgated under
the Securities Act) if the Company is a well-known seasoned issuer (as defined in Rule 405 promulgated under the Securities Act)
at the most recent applicable eligibility determination date) and (ii) keep such Subsequent Shelf Registration continuously effective,
available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable
Securities. Any such Subsequent Shelf Registration shall be on Form F-3 to the extent that the Company is eligible to use such
form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form.

 

2.1.3 Additional
Registrable Securities. In the event that any Holder holds Registrable Securities that are not registered for resale on a delayed
or continuous basis, the Company, upon request of an Otonomo Equityholder (which for this purpose shall include affiliated entities)
or a SPAC Holder that holds at least two (2.0%) percent of the Registrable Securities, shall promptly use its commercially reasonable
efforts to cause the resale of such Registrable Securities to be covered by either, at the Company’s option, the Shelf (including
by means of a post-effective amendment) or a Subsequent Shelf Registration and cause the same to become effective as soon as practicable
after such filing and such Shelf or Subsequent Shelf Registration shall be subject to the terms hereof; provided, however,
that the Company shall only be required to cause such Registrable Securities to be so covered twice per calendar year for the Otonomo
Equityholders and the SPAC Holders, respectively.

 

2.1.4 Requests
for Underwritten Shelf Takedowns. At any time and from time to time when an effective Shelf is on file with the Commission,
any Otonomo Equityholder or SPAC Holder (any of the Otonomo Equityholders or the SPAC Holders being, in such case, a “Demanding
Holder”) may request to sell all or any portion of its Registrable Securities in an Underwritten Offering or other
coordinated offering that is registered pursuant to the Shelf (each, an “Underwritten Shelf Takedown”);
provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include
Registrable Securities proposed to be sold by the Demanding Holder with a total offering price reasonably expected to exceed, in
the aggregate, $25 million or all of such Demanding Holders remaining Registrable Securities (the “Minimum Takedown
Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company,
which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown. Subject
to Section 2.4.4, the Demanding Holder shall have the right to select the Underwriters for such offering (which shall consist
of one or more reputable nationally recognized investment banks), subject to the initial Company’s prior approval (which
shall not be unreasonably withheld, conditioned or delayed). The Otonomo Equityholders may collectively demand not more than four
(4) Underwritten Shelf Takedowns and SPAC Holders may collectively demand not more than two (2) Underwritten Shelf Takedowns; provided,
however, that the Otonomo Equityholders and the SPAC Holders may not collectively demand more than two (2) Underwritten
Shelf Takedowns in any 12-month period. 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 F-3, that is then available for such
offering.

 

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2.1.5 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises
the Company, the Demanding Holders and the Holders requesting piggy-back rights pursuant to this Agreement with respect to such
Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or
number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together
with all other Ordinary Shares or other equity securities that the Company desires to sell and all Ordinary Shares or other equity
securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual
piggy-back registration rights held by any other shareholders, exceeds the maximum dollar amount or maximum number of equity securities
that can be sold in the Underwritten 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 such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, before
including any Ordinary Shares or other equity securities proposed to be sold by Company or by other holders of Ordinary Shares
or other equity securities, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based
on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included
in such Underwritten Shelf Takedown and the aggregate number of Registrable Securities that the Demanding Holders and Requesting
Holders have requested be included in such Underwritten Shelf Takedown) that can be sold without exceeding the Maximum Number of
Securities. To facilitate the allocation of Registrable Securities in accordance with the above provisions, the Company or the
Underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. The Company shall not be required
to include any Registrable Securities in such Underwritten Shelf Takedown unless the Holders accept the terms of the underwriting
as agreed upon between the Company and its Underwriters.

 

2.1.6 Withdrawal.
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing such Underwritten
Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have the right
to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal
Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Shelf
Takedown; provided that any Otonomo Equityholder or SPAC Holder may elect to have the Company continue an Underwritten Shelf
Takedown if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten
Shelf Takedown by the Otonomo Equityholders or the SPAC Holders or any of their respective Permitted Transferees, as applicable.
If withdrawn, a demand for an Underwritten Shelf Takedown shall not constitute a demand for an Underwritten Shelf Takedown for
purposes of Section 2.1.4; provided that, if an Otonomo Equityholder or a SPAC Holder elects to continue an Underwritten
Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such Underwritten Shelf Takedown shall instead count
as an Underwritten Shelf Takedown demanded by the Otonomo Equityholders or the SPAC Holders, as applicable, for purposes of Section
2.1.4. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other
Holders that had elected to participate in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the
Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown prior to its withdrawal
under this Section 2.1.6.

 

    7

     

    

 

2.2 Piggyback
Registration.

 

2.2.1 Piggyback
Rights. Subject to Section 2.4.3, if the Company or any Holder proposes to conduct a registered offering of, or if the
Company proposes to file a Registration Statement under the Securities Act with respect to the Registration of, equity securities,
or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account
or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company including, without
limitation, an Underwritten Shelf Takedown pursuant to Section 2.1 hereof), other than a Registration Statement (or any
registered offering with respect thereto) (i) filed in connection with any employee stock option or other benefit plan, (ii) pursuant
to a Registration Statement on Form F-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities
Act or any successor rule thereto), (iii) for an offering of debt that is convertible into equity securities of the Company or,
(iv) for a dividend reinvestment plan or (v) for a rights offering, then the Company shall give written notice of such proposed
offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated
filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to a Shelf Registration, the applicable
“red herring” prospectus or prospectus supplement used for marketing such offering, which notice shall (A) 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, in such offering, and (B) offer to all of the Holders of Registrable Securities
the opportunity to include in such registered offering such number of Registrable Securities as such Holders may request in writing
within five (5) days after receipt of such written notice (such registered offering, a “Piggyback Registration”).
Subject to Section 2.2.2, the Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback
Registration and, if applicable, shall use its commercially reasonable efforts to cause the managing Underwriter or Underwriters
of such Piggyback Registration to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2.1
to be included therein on the same terms and conditions as any similar securities of the Company included in such registered offering
and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution
thereof. The inclusion of any Holder’s Registrable Securities in a Piggyback Registration shall be subject to such Holder’s
agreement to enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

 

2.2.2 Reduction
of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback
Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration
in writing that the dollar amount or number of Ordinary Shares or other equity securities that the Company desires to sell, taken
together with (i) the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has
been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2
hereof, and (iii) the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has
been requested pursuant to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds
the Maximum Number of Securities, then:

 

(a) If
the Registration or registered offering is undertaken for the Company’s account, the Company shall include in any such Registration
or registered offering (A) first, the Ordinary Shares or other equity securities that the Company desires to sell, which can be
sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable
Securities pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each
Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders
have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities;
and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B),
the Ordinary Shares or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant
to written contractual piggy-back registration rights of other shareholders of the Company, which can be sold without exceeding
the Maximum Number of Securities;

 

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(b) If
the Registration or registered offering is pursuant to a request by persons or entities other than the Holders of Registrable Securities,
then the Company shall include in any such Registration or registered offering (A) first, the Ordinary Shares or other equity securities,
if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding
the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each Holder has requested
be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to
be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; (C) third, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares
or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities;
and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and
(C), the Ordinary Shares or other equity securities for the account of other persons or entities that the Company is obligated
to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without exceeding
the Maximum Number of Securities; and

 

(c) If
the Registration or registered offering is pursuant to a request by Holder(s) of Registrable Securities pursuant to Section
2.1 hereof, then the Company shall include in any such Registration or registered offering securities pursuant to Section
2.1.5.

 

2.2.3 Piggyback
Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdrawal from
an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6) shall have the right to withdraw
from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration
Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant
to a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect
to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or
as the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration (which, in no circumstance, shall include the Shelf)
at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement
(other than Section 2.1.6), the Company shall be responsible for the Registration Expenses incurred in connection with the
Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4 Unlimited
Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6, any Piggyback Registration effected
pursuant to Section 2.2 hereof shall not be counted as a demand for an Underwritten Shelf Takedown under Section 2.1.4
hereof.

 

2.3 Market
Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade), each
Holder given the opportunity to participate in the Underwritten Offering pursuant to the terms of this Agreement agrees that it
shall not Transfer any Ordinary Shares or other equity securities of the Company (other than those included in such offering pursuant
to this Agreement), without the prior written consent of the Company, during the 90-day period beginning on the date of pricing
of such offering or such shorter period during which the Company agrees not to conduct an underwritten primary offering of Ordinary
Shares or other equity securities, except in the event the Underwriters managing the offering otherwise agree by written consent;
provided that (a) if any Holder elects to participate in the Underwritten Offering and none of such Holder’s Registrable
Securities are included in such Underwritten Offering, then such Holder shall not be bound by this Section 2.3 with respect
to such Underwritten Offering and (b) if the Underwriters managing an Underwritten Offering consent to the early release of the
Company’s lockup relating to such Underwritten Offering, the terms of this Section 2.3 shall be deemed released with
respect to such Underwritten Offering. Each such Holder agrees to execute a customary lock-up agreement in favor of the Underwriters
to such effect (in each case on substantially the same terms and conditions as all such Holders).

 

    9

     

    

 

2.4 Block
Trades.

 

2.4.1 Notwithstanding
the foregoing, at any time and from time to time when an effective Shelf is on file with the Commission and effective, if a Demanding
Holder wishes to engage in an underwritten or other coordinated registered offering not involving a “roadshow,” an
offer commonly known as a “block trade” (a “Block Trade”), with a total offering price reasonably
expected to exceed, in the aggregate, either (x) $10 million or (y) all remaining Registrable Securities held by the Demanding
Holder, then notwithstanding the time periods provided for in Section 2.1.4, such Demanding Holder need only to notify the
Company of the Block Trade at least five (5) business days prior to the day such offering is to commence and the Company shall
as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade; provided that the Demanding
Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade shall use commercially reasonable
efforts to work with the Company and any Underwriters prior to making such request in order to facilitate preparation of the registration
statement, prospectus and other offering documentation related to the Block Trade.

 

2.4.2 Prior
to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade,
a majority-in-interest of the Demanding Holders initiating such Block Trade shall have the right to submit a Withdrawal Notice
to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Block Trade. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with a block trade prior to its withdrawal under this Section 2.4.2.

 

2.4.3 Notwithstanding
anything to the contrary in this Agreement, Section 2.2 hereof shall not apply to a Block Trade initiated by a Demanding
Holder pursuant to this Agreement.

 

2.4.4 The
Demanding Holder in a Block Trade shall have the right to select the Underwriters for such Block Trade (which shall consist of
one or more reputable nationally recognized investment banks).

 

Article
III

Company Procedures

 

3.1 General Procedures. In
connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect such Registration
to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto
the Company shall, as expeditiously as possible:

 

3.1.1 prepare
and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use
its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

    10

     

    

 

3.1.2 prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least two (2.0%) percent of the Registrable Securities
registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in
accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3 prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and 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 Underwriters and the Holders of Registrable Securities
included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the
Registrable Securities owned by such Holders;

 

3.1.4 prior
to any public offering of Registrable Securities (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 (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or
qualification) 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 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 or take any action to which it would be subject to general service of process
or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5 cause
all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the Company
are then listed;

 

3.1.6 provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

3.1.7 advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening
of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order should be issued;

 

3.1.8 at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (or such shorter period of time as may be necessary in order to comply with the Securities Act, the Exchange
Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as applicable), furnish a copy thereof
to each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange
Act that is to be incorporated by reference therein);

 

    11

     

    

 

3.1.9 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 a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10 permit
a representative of any Holder, the Underwriters, if any, and any attorney or accountant retained by such Holder(s) or Underwriter
to participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney
or accountant in connection with the Registration; provided, however, that such representatives or Underwriters agree
to confidentiality arrangements reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11 obtain
a “comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering or other coordinated offering that is registered pursuant to a Registration Statement, in customary form and covering
such matters of the type customarily covered by “comfort” letters as the managing Underwriter or other similar type
of sales agent or placement agent may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

3.1.12 on
the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of
counsel representing the Company for the purposes of such Registration, addressed to the Holders, 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 Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily
included in such opinions and negative assurance letters, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

3.1.13 in
the event of any Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement, enter
into and perform its obligations under an underwriting agreement, sales agreement or placement agreement, in usual and customary
form, with the managing Underwriter, sales agent or placement agent of such offering;

 

3.1.14 make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration
Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule
then in effect);

 

3.1.15 if
the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $25 million with respect
to an Underwritten Offering pursuant to Section 2.1.4, use its reasonable efforts to make available senior executives
of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter
in such Underwritten Offering; and

 

3.1.16 otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
with such Registration.

 

    12

     

    

 

Notwithstanding the
foregoing, the Company shall not be required to provide any documents or information to an Underwriter or other sales agent or
placement agent if such Underwriter or other sales agent or placement agent has not then been named with respect to the applicable
Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement.

 

3.2 Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders
that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
or agents’ commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition
of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3 Stock
Distributions. In connection with any Shelf or Shelf Takedown, if the Company shall receive a request from a Holder of Registrable
Securities to effectuate a pro rata in-kind distribution for no consideration of such Registrable Securities pursuant
to such Registration to its members, partners, stockholders, as the case may be, then the Company shall deliver or cause to be
delivered to the transfer agent and registrar for the Registrable Securities an opinion of counsel to the Company reasonably acceptable
to such transfer agent and registrar that any legend referring to the Act may be removed upon such distribution of such Registrable
Securities pursuant to such Registration, provided that the distributee of such Registrable Securities is not and has not been
for the preceding ninety (90) days an affiliate of Parent (as defined in Rule 405 promulgated under the Act). The Company’s
obligations hereunder are conditioned upon the receipt of a representation letter reasonably acceptable to the Company from such
Holder regarding such proposed pro rata in-kind distribution for no consideration of such Registrable Securities.

 

3.4 Requirements
for Participation in Registration Statement Underwritten Offerings. Notwithstanding anything in this Agreement to the contrary,
if any Holder does not provide the Company with its requested Holder Information, the Company may exclude such Holder’s
Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice
of counsel, that such information is necessary to effect the registration and such Holder continues thereafter to withhold such
information. No person may participate in any Underwritten Offering or other coordinated 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 arrangements approved by the Company and (ii) completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting or other agreements and other customary documents as may be
reasonably required under the terms of such arrangements. The exclusion of a Holder’s Registrable Securities as a result
of this Section 3.4 shall not affect the registration of the other Registrable Securities to be included in such Registration.

 

3.5 Suspension
of Sales; Adverse Disclosure; Restrictions on Registration Rights.

 

3.5.1 Upon
receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
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.

 

3.5.2 If
the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would
(a) require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial statements
that are unavailable to the Company for reasons beyond the Company’s control, or (c) in the good faith judgment of the majority
of the Board such Registration, cause serious and irreparable harm to the Company and the majority of the Board concludes as a
result that it is essential to defer such filing, initial effectiveness or continued use at such time, 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 determined in good faith by the Company to be necessary for such purpose. In the event
the Company exercises its rights under this Section 3.5.2, 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.

 

    13

     

    

 

3.5.3 (a)
During the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of the filing
of, and ending on a date ninety (90) days after the effective date of, a Company-initiated Registration and provided that the Company
continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable Shelf Registration
Statement, or (b) if, pursuant to Section 2.1.4, Holders have requested an Underwritten Shelf Takedown and the Company and
such Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering, the Company may, upon giving
prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.1.4 or 2.4.

 

3.5.4 The
right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to Section 3.4.2
or a registered offering pursuant to Section 3.4.3 shall be exercised by the Company, in the aggregate, for not more
than ninety (90) consecutive calendar days or more than one hundred and twenty (120) total calendar days, in each case, during
any twelve (12)-month period.

 

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; provided that any documents
publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall
be deemed to have been furnished or delivered to the Holders pursuant to this Section 3.5. 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 Registrable Securities 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 (or any successor rule then in effect). 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.

 

3.7 Removal
of Legends. Following completion of the Lock-Up Period and upon Rule 144 becoming available for the resale of any Registrable
Securities, without the requirement for the Company to be in compliance with the current public information required under Rule
144 as to such securities and without volume or manner-of-sale restrictions and expiration of any lock-up agreement applicable
to such Ordinary Shares, the Company shall cause Company counsel to issue to a transfer agent the legal opinion referred to in
the Irrevocable Transfer Agent Instructions (as defined below). Any fees (with respect to the transfer agent, Company counsel or
otherwise) associated with the issuance of such opinion or the removal of such legend shall be borne by the Company. At such time,
the Company will no later than two (2) trading days following a written request by Holder (such second (2nd) trading day, the “Legend
Removal Date”), deliver or cause to be delivered to such Holder a certificate representing such Ordinary Shares that
is free from all restrictive and other legends. Certificates for Ordinary Shares subject to legend removal hereunder may be transmitted
by a transfer agent to the Holders by crediting the account of the Holder’s prime broker with Depository Trust Company as
directed by such Holder.

 

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3.7.1 Irrevocable
Transfer Agent Instructions. Following completion of the Lock-Up Period, the Company shall issue irrevocable instructions to
its transfer agent, and any subsequent transfer agent, in substantially the form of Schedule C attached hereto (the “Irrevocable
Transfer Agent Instructions”). The Company represents and warrants that no instruction other than the Irrevocable
Transfer Agent Instructions referred to in this Section 3.7.1 (or instructions that are consistent therewith) and instructions
related to the lock-up agreement contained herein will be given by the Company to its transfer agent in connection with this Agreement,
and that the Ordinary Shares shall otherwise be freely transferable on the books and records of the Company as and to the extent
provided in this Agreement and the other transaction documents and applicable law. The Company acknowledges that a breach by it
of its obligations under this Section 3.7.1 will cause irreparable harm to a Holder. Accordingly, the Company acknowledges
that the remedy at law for a breach of its obligations under this Section 3.7.1 will be inadequate and agrees, in the event
of a breach or threatened breach by the Company of the provisions of this Section 3.7.1, that a Holder shall be entitled,
in addition to all other available remedies, to an order and/or injunction restraining any breach and requiring immediate issuance
and transfer, without the necessity of showing economic loss and without any bond or other security being required.

 

3.7.2 Acknowledgement.
Each Holder hereunder acknowledges its primary responsibilities under the Securities Act and accordingly will not sell or otherwise
transfer the Ordinary Shares or any interest therein without complying with the requirements of the Securities Act. Both the Company
and its transfer agent, and their respective directors, officers, employees and agents, may rely on this Section 3.7.2 and
each Holder hereunder will indemnify and hold harmless each of such persons from any breaches or violations of this Section
3.7.2.

 

Article
IV

Indemnification and Contribution

 

4.1 Indemnification.

 

4.1.1 The
Company agrees to indemnify and hold harmless, to the extent permitted by law, each Holder of Registrable Securities, its officers,
directors and agents and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities and out-of-pocket expenses (including without limitation reasonable outside attorneys’ fees) as incurred
arising out of or resulting from any untrue or alleged untrue statement of material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused
by or contained in any information or affidavit so furnished in writing to the Company by such Holder expressly for use therein,
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 of the Company in connection therewith.

 

4.1.2 In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
to the Company in writing such information and affidavits with respect to such Holder as the Company reasonably requests for use
in connection with any such Registration Statement or Prospectus (the “Holder Information”) and, to the
extent permitted by law, shall indemnify and hold harmless the Company, its directors, officers and agents and each person who
controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket
expenses (including without limitation reasonable outside attorneys’ fees) as incurred arising out of or resulting from any
untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, but only to the extent that such untrue or alleged untrue statement
or omission or alleged omission is contained in any information or affidavit so furnished in writing by such Holder expressly for
use therein; provided, however, that the obligation to indemnify shall be several, not joint and several, among such
Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and
limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement.
The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls
such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification
of the Company.

 

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4.1.3 Any
person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such
indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist
with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory
to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement
made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party
who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of
more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable
judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified
parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry
of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is
so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation.

 

4.1.4 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. The Company and each Holder of Registrable Securities participating in an offering also agrees to make
such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

4.1.5 If
the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein,
then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the
indemnified party as a result of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is
appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party,
and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity
to correct or prevent such action; provided, however, that the liability of any Holder under this Section 4.1.5
shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The
amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include,
subject to the limitations set forth in Sections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges
or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 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 this Section 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this Section 4.1.5 from any person who was not guilty of such fraudulent
misrepresentation.

 

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Article
V

Miscellaneous

 

5.1 Notices. All notices, requests,
claims, demands and other communications among the parties shall be in writing and shall be deemed to have been duly given (i)
when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified
mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery
service or (iv) when e-mailed during normal business hours (and otherwise as of the immediately following business day), addressed
as follows:

 

	If to the Company, to:
	 
	Otonomo Technologies Ltd.
	16 Abba Eban Blvd.
	Herzliya 4672534, Israel
	Attention:	Ben Volkow
	 	Bonnie Moav
	Email:	ben@otonomo.io
	 	bonnie@otonomo.io

 

	with copies (which shall not constitute notice) to:
	 
	Latham & Watkins LLP
	811 Main Street, Suite 3700
	Houston, Texas 77002
	Attention:	Ryan Maierson
	 	John Greer
	E-mail:	ryan.maierson@lw.com
	 	john.greer@lw.com
	 	 
	Latham & Watkins LLP
	99 Bishopsgate
	London EC2M 3XF
	United Kingdom 
	Attention:	Joshua Kiernan
	E-mail:	joshua.kiernan@lw.com

 

If to any Holder, to such address indicated
on the Company’s records with respect to such Holder or to such other address or addresses as such Holder may from time to
time designate in writing.

 

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5.2 Assignment;
No Third Party Beneficiaries.

 

5.2.1 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.

 

5.2.2 A Holder may
assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, to any person to
whom it transfers Registrable Securities; provided that such Registrable Securities remain Registrable Securities following such
transfer and such person agrees to become bound by the terms and provisions of this Agreement.

 

5.2.2 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 as provided in Section 5.1
hereof 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).

 

5.2.3 Subject
to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted
successors and assigns. Any attempted assignment in violation of the terms of this Section 5.2 shall be null and void, ab
initio.

 

5.2.4 This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth
in this Agreement and Section 5.2 hereof.

 

5.3 Captions;
Counterparts. The headings, subheadings and captions contained in this Agreement are inserted for convenience only and shall
not affect in any way the meaning or interpretation of this Agreement. This Agreement and any amendment hereto may be executed
in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this Agreement or any amendment hereto by electronic means,
including docusign, e-mail, or scanned pages shall be effective as delivery of a manually executed counterpart to this Agreement
or any amendment hereto.

 

5.4 Governing
Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement, shall be
governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or
conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application
of the law of any jurisdiction other than the State of Delaware.

 

5.5 Jurisdiction;
Waiver of Jury Trial.

 

5.5.1 Each
of the parties hereto irrevocably and unconditionally submits to the exclusive jurisdiction of the Chancery Court of the State
of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction, any state or federal court sitting
in the Borough of Manhattan, State of New York, New York County), for the purposes of any Proceeding (as defined in the Business
Combination Agreement), claim, demand, action or cause of action (a) arising under this Agreement or (b) in any way connected with
or related or incidental to the dealings of the parties hereto in respect of this Agreement, and irrevocably and unconditionally
waives any objection to the laying of venue of any such Proceeding in any such court, and further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such Proceeding has been brought in an inconvenient forum. Each
party hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or
otherwise, in any Proceeding, claim, demand, action or cause of action against such party (i) arising under this Agreement or (ii)
in any way connected with or related or incidental to the dealings of the parties hereto in respect of this Agreement, (A) any
claim that such party is not personally subject to the jurisdiction of the courts as described in this Section 5.5 for any
reason, (B) that such party or such party’s property is exempt or immune from the jurisdiction of any such court or from
any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid
of execution of judgment, execution of judgment or otherwise) and (C) that (x) the Proceeding, claim, demand, action or cause of
action in any such court is brought against such party in an inconvenient forum, (y) the venue of such Proceeding, claim, demand,
action or cause of action against such party is improper or (z) this Agreement, or the subject matter hereof, may not be enforced
against such party in or by such courts. Each party agrees that service of any process, summons, notice or document by registered
mail to such party’s respective address set forth in Section 5.5 shall be effective service of process for any such
Proceeding, claim, demand, action or cause of action.

 

    18

     

    

 

5.5.2 THE
PARTIES HERETO EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY PROCEEDING, CLAIM,
DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR UNDER ANY ANCILLARY DOCUMENT OR (II) IN ANY WAY CONNECTED
WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE PARTIES HERETO EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH
PROCEEDING, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES HERETO
MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO
TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY
OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH
PARTY MAKES THIS WAIVER VOLUNTARILY AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.5.

 

5.6 Amendments
and Modifications. Upon the written consent of (a) the Company and (b) the Holders of a majority of the total Registrable
Securities as of the time of any waiver or amendment, 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 in the event any such waiver, amendment or modification would be adverse in any material respect to the material
rights or obligations hereunder of a Holder of the Registrable Securities, the written consent of such Holder will also be required;
provided further that in the event any such waiver, amendment or modification would be disproportionate and adverse in
any material respect to the material rights or obligations hereunder of a Holder, the written consent of such Holder will also
be required. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the
part of a Holder 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 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.

 

5.7 Termination
of Existing Registration Rights. The registration rights granted under this Agreement shall supersede any registration, qualification
or similar rights of the Holders with respect to any shares or securities of SPAC or the Company granted under any other agreement,
including, but not limited to, that certain Registration Rights Agreement dated as of September 14, 2020, among SPAC and the investors
party thereto, and that certain Amended and Restated Investors’ Rights Agreement, dated as of December 3, 2018, by and among
the Company and the shareholders party thereto, and any of such preexisting registration, qualification or similar rights and
such agreements shall be terminated and of no further force and effect effective as of immediately prior to the effective time
of the Merger.

 

5.8 Term.
This Agreement shall terminate with respect to any Holder on the date that such Holder no longer holds any Registrable Securities.
The provisions of Sections 3.5, 5.1, 5.4, and 5.5, and Article IV shall survive any termination.

 

5.9 Termination
if Business Combination Agreement is Terminated. In the event the Business Combination Agreement is terminated in accordance
with its terms, this Agreement shall automatically terminate and be of no further force and effect, except for Article IV
and Sections 5.1, 5.4, and 5.5, which shall survive such termination.

 

5.10 Holder
Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities
held by such Holder in order for the Company to make determinations hereunder.

 

[SIGNATURE PAGES FOLLOW]

 

    19

     

    

 

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

 

	 	COMPANY:
	 	 
	 	OTONOMO TECHNOLOGIES LTD.
	 	 
	 	By:	/s/ Ben Volkow
	 	 	Name:	  Ben Volkow
	 	 	Title:	CEO

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

 

	 	Software Acquisition Holdings II LLC
	 	 
	 	By:	/s/ Jonathan S. Huberman
	 	 	Name: 	Jonathan S. Huberman
	 	 	Title:	Managing Member

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

  

	 	BEN VOLKOW
	 	 	 
	 	By:	/s/ Ben Volkow

  

     

     

    

  

	 	Alliance Ventures  
	 	 	 
	 	By:	/s/ Hadi Zablit
	 	 	Name: Hadi Zablit 
	 	 	Title: Alliance Ventures Chairman

  

     

     

    

  

	 	Aptiv International Holdings (Luxembourg) S.à.r.l
	 	 	 
	 	By:	/s/ David M. Sherbin  
	 	 	Name: David M. Sherbin   
	 	 	Title: Director  

 

     

     

    

  

	 	Yuval Cohen as Proxy for
    Avner Cohen by Proxy dated November 24, 2017 
	 	 	 
	 	By:	/s/ Yuval Cohen  
	 	 	Name: Yuval Cohen  

 

     

     

    

  

BESSEMER VENTURE PARTNERS IX L.P.

BESSEMER VENTURE PARTNERS IX INSTITUTIONAL L.P.

 

By: Deer IX & Co. L.P., their General Partner

By: Deer IX & Co. Ltd., its General Partner

 

	By:	/s/ Scott Ring	 
	 	Scott Ring, General Counsel	 

 

Notice Address:

 

c/o Bessemer Venture Partners

1865 Palmer Avenue

Suite 104

Larchmont, NY 10538

Tel. 914-833-5300

Transactions@bvp.com

 

     

     

    

  

	 	STAGE ONE VENTURE CAPITAL FUND II (CAYMAN), L.P.  
	 	 	 
	 	By:	/s/ Yuval Cohen, /s/ Tal Slobodkin  
	 	 	Name: Yuval Cohen, Tal Slobodkin  
	 	 	Title: Managing Partners  

 

     

     

    

  

	 	STAGE ONE VENTURE CAPITAL FUND II (ISRAEL), L.P.
	 	 	 
	 	By:	 /s/ Yuval Cohen, /s/ Tal Slobodkin
	 	 	Name: Yuval Cohen, Tal Slobodkin
	 	 	Title: Managing Partners

 

     

     

    

 

Schedule A

 

SPAC Holders

 

Software Acquisition Holdings II LLC

 

     

     

    

 

Schedule B

 

Otonomo Equityholders

 

Ben Volkow

Bessemer Venture Partners IX L.P.

Bessemer Venture Partners IX Institutional L.P.

Stage One Venture Capital Fund II (Israel) L.P.

Stage One Venture Capital Fund II (Cayman) L.P.

Alliance Ventures

Aptiv International Holdings (Luxembourg) S.à.r.l.

Avner Cohen

 

     

     

    

 

Schedule C

 

Form of Irrevocable Transfer Agent
Instructions

 

FORM OF IRREVOCABLE TRANSFER AGENT INSTRUCTIONS

 

As of _________, ____

 

[Insert Name of Transfer Agent]

[Address]

[Address]

Attn: _________________

 

Ladies and Gentlemen:

 

Reference
is made to that certain Registration Rights Agreement, dated as of _____________, ___ (the “Agreement”), by
and among Otonomo Technologies Ltd., a company organized under the laws of Israel (the “Company”), and the shareholders
named on the signature pages thereto (collectively, and including permitted transferees, the “Holders”).

 

This
letter shall serve as our irrevocable authorization and direction to you (provided that you are the transfer agent of the Company
at such time and the conditions set forth in this letter are satisfied), subject to any stop transfer instructions that we may
issue to you from time to time, if any, to issue certificates representing shares of Common Stock upon transfer or resale of the
Ordinary Shares (as defined in the Agreement).

 

You acknowledge
and agree that so long as you have received written confirmation from the Company’s legal counsel that either (1) the
Ordinary Shares have been sold in conformity with Rule 144 under the Securities Act (“Rule 144”) or
(2) the Ordinary Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with
the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions
within two (2) trading days of your receipt of a notice of transfer or Ordinary Shares, you shall issue the certificates representing
the Ordinary Shares registered in the names of such Holders or transferees, as the case may be, and such certificates shall not
bear any legend restricting transfer of the Ordinary Shares thereby and should not be subject to any stop-transfer restriction

 

Please
be advised that the Holders are relying upon this letter as an inducement to enter into the Agreement and, accordingly, each Holder
is a third party beneficiary to these instructions.

 

Please
execute this letter in the space indicated to acknowledge your agreement to act in accordance with these instructions.

 

	 	Very truly yours,
	 	 
	 	Otonomo Technologies Ltd.
	 	 
	 	By:  	 
	 	Name:  	                    
	 	Title:  	 

 

     

     

    

 

	Acknowledged and Agreed:	 
	 	 
	[INSERT NAME OF TRANSFER AGENT]	 
	 	 
	By: 	 	 
	Name:  	                             	 
	Title:  	 	 
	 	 	 
	Date:  _________________, ______	 

 

 

2Exhibit 10.3

 

January 31, 2021

 

Otonomo Technologies Ltd.

16 Abba Eban Blvd.

Herzliya 4672534, Israel

 

Software Acquisition Group Inc. II

1980 Festival Plaza Drive, Ste. 300

Las Vegas, NV 89135

Tel: (310) 991-4982

Attn: Jonathan Huberman, Chief Executive Officer and Chief
Financial Officer

Email: jon@softwareaqn.com

 

		Re:	Sponsor Letter Agreement

 

Ladies and Gentlemen:

 

This letter agreement
(“Sponsor Letter Agreement”) is being delivered to you in accordance with that certain Business Combination
Agreement (“Business Combination Agreement”), dated on or about the date hereof, by and among Software Acquisition
Group Inc. II, a Delaware corporation (“SPAC”), Otonomo Technologies Ltd., a company organized under
the laws of the State of Israel (the “Company”), and Butterbur Merger Sub Inc., a Delaware corporation (“Merger
Sub”), pursuant to which Merger Sub will merge with and into SPAC (“Merger”), with SPAC surviving
the Merger as a wholly owned subsidiary of the Company. In order to induce the Company and SPAC to enter into the Business Combination
Agreement and proceed with the Merger, and in recognition of the benefit that the Merger will confer on the undersigned, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees
with the Company and SPAC as follows:

 

1. The
undersigned will (i) vote all shares of Class B common stock of SPAC, par value $0.0001 per share (“Sponsor Shares”),
and all shares of Class A common stock of SPAC, par value $0.0001 per share (“SPAC Shares”) (including all SPAC Shares
issuable upon the conversion of Sponsor Shares and all SPAC Shares underlying units of SPAC) beneficially owned by it in favor
of the Merger and each other proposal related to the Merger included on the agenda for the special meeting of stockholders relating
to the Merger, (ii) when such meeting of stockholders is held, appear at such meeting or otherwise cause the Sponsor Shares and
SPAC Shares beneficially owned by it to be counted as present thereat for the purpose of establishing a quorum and (iii) vote all
Sponsor Shares and SPAC Shares beneficially owned by it against any action that would reasonably be expected to materially impede,
interfere with, delay, postpone or adversely affect the Merger or any of the other transactions contemplated by the Merger Agreement
or result in a breach of any covenant, representation or warranty or other obligation or agreement of SPAC under the Business Combination
Agreement or result in a breach of any covenant or other obligation or agreement of the undersigned contained in this Sponsor Letter
Agreement. The obligations of the undersigned specified in this paragraph 1 shall apply whether or not the Merger or any action
described above is recommended by the SPAC Board (as defined in the Business Combination Agreement) or the SPAC Board has effected
a SPAC Change in Recommendation (as defined in the Business Combination Agreement).

 

2. The
undersigned agrees that the Sponsor Shares and SPAC Shares beneficially owned by it may not be transferred, assigned or sold prior
to the date of the closing of the transactions contemplated by the Business Combination Agreement; provided, however, that
the foregoing shall not apply to any transfer (i) to SPAC’s officers or directors, any affiliates or family member of any
of SPAC’s officers or directors, any members or partners of the Software Acquisition Holdings II LLC (the “Sponsor”)
or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (ii) by private sales or transfers made
in connection with the transactions contemplated by the Business Combination Agreement; and (iii) by virtue of the Sponsor’s
organizational documents upon liquidation or dissolution of the Sponsor; provided, that any transferee of any transfer of
the type set forth in clauses (i) through (iii) must enter into a written agreement in form and substance reasonably satisfactory
to the Company agreeing to be bound by this Agreement prior to the occurrence of such transfer.

 

     

     

    

 

3. The
undersigned acknowledges that the undersigned is a party to a letter agreement with SPAC dated on or about September 14, 2020 (“Existing
Letter Agreement”), which includes, among other things, an agreement to vote the undersigned’s Sponsor Shares and
SPAC Shares in favor of a business combination (as defined therein), transfer restrictions with respect to the Sponsor Shares and
SPAC Shares, and a waiver of any and all right, title, interest or claim of any kind in or to any distribution of the trust account
into which a portion of the net proceeds of SPAC’s initial public offering were deposited. The undersigned acknowledges and
agrees that this Sponsor Letter Agreement is made in addition to, and does not amend, modify, terminate, or replace, the Existing
Letter Agreement, and the Existing Letter Agreement remains in full force and effect.

 

4. The
undersigned agrees that it shall not Transfer (as defined the Existing Letter Agreement) any Private Placement Warrants (as defined
the Existing Letter Agreement) (or SPAC Shares issued or issuable upon the exercise of the Private Placement Warrants) until 30
days after the completion of the Merger.

 

5. This
Sponsor Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the Chancery Court of the
State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction, any state or federal court
sitting in the Borough of Manhattan, State of New York, New York County), without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction. The undersigned hereby (i) agrees that any
action, proceeding or claim against him arising out of or relating in any way to this Sponsor Letter Agreement (a “Proceeding”)
shall be brought and enforced in the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware
declines to accept jurisdiction, any state or federal court sitting in the Borough of Manhattan, State of New York, New York County),
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. The undersigned agrees that service of any process, summons,
notice or document by registered mail to the undersigned’s address set forth below its signature hereto shall be effective
service of process for any such Proceeding, claim, demand, action or cause of action.

 

6. This
Sponsor Letter Agreement and the Existing Letter Agreement constitute the entire agreement and understanding of the parties hereto
in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the
parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated
hereby. In the event of any inconsistency, conflict or ambiguity as to the rights and obligations of the parties hereto under this
Sponsor Letter Agreement and the Existing Letter Agreement, the terms of this Sponsor Letter Agreement shall control and supersede
any such inconsistency, conflict or ambiguity. This Sponsor Letter Agreement may not be changed, amended, modified or waived (other
than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

7. The
undersigned hereby agrees and acknowledges that: (i) SPAC and the Company would be irreparably injured in the event of a breach
of the undersigned’s obligations of this Sponsor Letter Agreement (ii) monetary damages may not be an adequate remedy for
such breach and (iii) SPAC and the Company shall be entitled to injunctive relief, in addition to any other remedy that such party
may have in law or in equity, in the event of such breach.

 

8. This
Sponsor Letter Agreement shall be binding on the undersigned and its successors and assigns. This Sponsor Letter Agreement shall
terminate on the earlier of (i) the closing of the transactions contemplated by the Business Combination Agreement and (ii) the
termination of the Business Combination Agreement in accordance with its terms; provided, that such termination shall not
relieve the undersigned from liability for any breach of this Sponsor Letter Agreement prior to its termination. Prior to any valid
termination of the Business Combination Agreement, the undersigned shall take, or cause to be taken, all actions and do, or cause
to be done, all things reasonably necessary under applicable Laws to consummate the Merger and the other transactions contemplated
by the Business Combination Agreement on the terms and subject to the conditions set forth therein.

 

9. This
Sponsor Letter Agreement and any amendment hereto may be executed in one or more counterparts, each of which shall be deemed to
be an original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature
page to this Sponsor Letter Agreement or any amendment hereto by electronic means, including docusign, e-mail, or scanned pages
shall be effective as delivery of a manually executed counterpart to this Sponsor Letter Agreement or any amendment hereto.

 

10. Whenever
possible, each provision of this Sponsor Letter Agreement will be interpreted in such a manner as to be effective and valid under
applicable law, but if any term or other provision of this Sponsor Letter Agreement is held to be invalid, illegal or unenforceable
under applicable Law, all other provisions of this Sponsor Letter Agreement shall remain in full force and effect so long as the
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination
that any term or other provision of this Sponsor Letter Agreement is invalid, illegal or unenforceable under applicable Law, the
parties hereto shall negotiate in good faith to modify this Sponsor Letter Agreement so as to effect the original intent of the
parties hereto as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated
as originally contemplated to the greatest extent possible.

 

[Signature Page Follows]

 

    2

     

    

 

	 	Very truly yours,
	 	 
	 	SOFTWARE ACQUISITION HOLDINGS II LLC
	 	 	 
	 	By:	/s/ Jonathan S. Huberman
	 	Name:	Jonathan S. Huberman
	 	Title:	Managing Member

 

	ACKNOWLEDGED AND AGREED:	 
	OTONOMO TECHNOLOGIES LTD.	 
	 	 	 
	By:	/s/ Ben Volkow	 
	Name:	  Ben Volkow	 
	Title:	CEO	 
	 	 	 
	SOFTWARE ACQUISITION GROUP INC. II	 
	 	 	 
	By:	/s/ Jonathan S. Huberman	 
	Name:	Jonathan S. Huberman	 
	Title:	Managing Member	 

 

 

3

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