Document:

EX-10.16

 Exhibit 10.16 

Indemnity Agreement 
 dated
[date], 2021 
 among 
 On Holding AG

 Pfingstweidstrasse 106 
 8005 Zürich 

Switzerland 
 (the “Company”) 

and 
 [name] 

[address] 
 (the “Covered
Person”) 
 (each a “Party” and collectively the “Parties”) 

 Indemnity Agreement 

 

 WHEREAS 
  

	A.	 The Covered Person has been elected as a member of the board of directors (a “Director”) or
appointed as a member of the executive committee (an “Officer”) of the Company. For the avoidance of doubt, for purposes of this indemnity agreement (the “Agreement”), the functions and activities or omissions of
the Covered Person as a member of a committee of the board of directors shall also be deemed functions, activities or omissions of such Covered Person as a Director. 

 

	B.	 The Company’s shares are listed on the New York Stock Exchange (“NYSE”) in the United
States of America. 

  

	C.	 The Covered Person is exposed to litigation risks arising from claims that may be brought against him or her in
connection with his or her function as a Director or Officer. 

  

	D.	 The version of the articles of association of the Company as is in effect at the time of the listing of the
Company’s shares on the NYSE (the “Articles of Association”) provide that the Company shall indemnify and hold harmless, to the fullest extent permitted by law, the existing and former Directors and Officers, and their heirs,
executors and administrators, out of the assets of the Company from and against all threatened, pending or completed actions, suits or proceedings – whether civil, criminal, administrative or investigative – and all costs, charges, losses,
damages, and expenses, which they may incur or sustain or by reasons of any actual or alleged actions consents or omissions in or about the execution of their duty or alleged duty, or by reason of the fact that he or she is or was a Director or
Officer. 

  

	E.	 It is reasonable, prudent and necessary for the Company, in due consideration of the risks related to its
activity and its position as a NYSE listed company, to enter into this Agreement to contractually indemnify persons serving as Directors or Officers to the fullest extent permitted by the Articles of Association and the applicable law so that they
will serve, or continue to serve, in such capacity free from undue concern that they will not be so indemnified. 

 NOW, THEREFORE, THE
PARTIES HERETO AGREE AS FOLLOWS: 
  

	1.	 Third-Party Proceedings 

 

	1.1	 In connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal or
administrative or investigative, or other, and whether formal or informal, to which he or she was, is or is threatened to be made a party, or in which he or she was, is or is threatened to be otherwise involved, whether conducted by the Company or
any other party, except for one initiated by the Covered Person, to enforce the Covered Person’s rights under this Agreement (a “Proceeding”) involving the Covered Person, the Company shall indemnify the Covered Person if:

  
 2/9 

 Indemnity Agreement 

 

	 	a)	 he or she was or is a party or is threatened to be made a party to any Proceeding by reason of any actual or
alleged actions, consents or omissions in or about the execution of his or her duties or alleged duties as Director or Officer; 

  

	 	b)	 he or she was or is a party or is threatened to be made a party to any Proceeding by reason of the fact that he
or she is or was a Director or an Officer or a member of the board of directors (or equivalent corporate body) or management of a direct or indirect subsidiary of the Company (an “Affiliate”); and 

 

	 	c)	 he or she is a party or is threatened to be made a party to any Proceeding by reason of the fact that, while
serving as Director or Officer, he or she is or was serving, at the request of the Company, as a director, member of the executive committee, an employee or agent of another corporation, partnership, joint venture, trust or other enterprise,

 against any expenses, including reasonable attorneys’ fees, court and administrative fees, related taxes and
obligations of any nature whatsoever actually and reasonably incurred by him or her in any Proceeding, including judgments, damages, fines, other liability or claims, and amounts paid in connection with a settlement incurred by the Covered Person in
connection with such Proceeding (the “Expenses”). 
  

	1.2	 Any indemnification under this Agreement, other than advance payments (unless ordered by a court), shall be
made by the Company only as authorized in the specific case upon a determination by the Company that indemnification of the Covered Person is not excluded pursuant to Section 3. 

 

	2.	 Proceeding in the Right of the Company 

 

	2.1	 The Company shall indemnify the Covered Person against any Expenses, if the Covered Person was or is a party or
is threatened to be made a party to any Proceeding by or in the right of the Company to procure a judgment in favor of the Company by reason of the fact that the Covered Person is or was a Director, Officer, employee, consultant or agent of the
Company or its Affiliates or is or was serving at the request of the Company as a Director, Officer, employee, consultant or agent of, or participant in, another corporation, partnership, joint venture, trust, or other enterprise.

  

	2.2	 As far as is permissible under applicable law, Expenses incurred in defending any Proceeding for which
indemnification is permitted pursuant to this Agreement shall be paid by the Company in advance of the final disposition of such proceeding upon receipt by the board of directors of the Company of an undertaking by or on behalf of the Covered Person
to repay such amount, with applicable interest, if it shall ultimately be determined in accordance with Section 3 below that he or she is not entitled to be indemnified by the Company under this Agreement. 

  
 3/9 

 Indemnity Agreement 

 

	3.	 No Indemnification 

 

	3.1	 Sections 1 and 2 above shall not apply, and any advanced Expenses shall be reimbursed by the Covered Person to
the Company, if: 

  

	 	a)	 a competent court, governmental or administrative authority holds the Covered Person to be liable and concludes
in a final judgment or decree not subject to appeal, that the relevant actions or omissions giving rise to the Proceeding constitute fraud, dishonesty or an intentional or grossly negligent breach of the duties of the Covered Person under applicable
law or under its terms of office or agreements with the Company including the obligation to act honestly and in good faith with a view to the best interests of the Company; or 

 

	 	b)	 absent a judgment by a competent court as set forth under Section 3.1(a) above, it is prima facie apparent
that the relevant actions or omissions giving rise to the Proceeding constitute fraud, dishonesty or an intentional or grossly negligent breach of the duties of the Covered Person under applicable law or under its terms of office or agreements with
the Company. 

  

	3.2	 Any determination shall be made, with respect to a Covered Person: 

 

	 	a)	 by a majority vote of the Directors who are not parties to such proceeding, even though less than a quorum; or

  

	 	b)	 by a committee of Directors designated by a majority vote of the Directors who are not parties to such
proceeding, even though less than a quorum; or 

  

	 	c)	 if there are no such Directors, or if such Directors so direct, by independent legal counsel in a written
opinion; or 

  

	 	d)	 by the general meeting of shareholders of the Company. 

To the extent that any Covered Person has been successful on the merits or otherwise in defense of any proceeding, or in defense of any claim,
issue or matter therein, such Covered Person shall be indemnified against Expenses irrespective of any such prior determination. 
  

	3.3	 Notwithstanding the preceding sentence, this Section shall not extend to any person holding the internal office
or the external consultant’s position of auditor or special auditor of the Company. 

  
 4/9 

 Indemnity Agreement 

 

	4.	 Non-Exclusivity 

 

	4.1	 This Agreement shall supplement the Covered Person’s terms of office and/or employment agreement with the
Company as separately agreed with the Company. If a discrepancy exists between the employment agreement of the Covered Person with the Company and this Agreement, the latter shall prevail. 

 

	4.2	 This Agreement shall not limit the Covered Person’s reimbursement rights provided under statutory law and
the Articles of Association. 

  

	5.	 Indemnification Procedure 

 

	5.1	 Should the Covered Person become aware of any Proceeding which could give rise to any entitlements under this
Agreement, the Covered Person shall: 

  

	 	a)	 as promptly as practicable (but in no event later than 20 business days of becoming so aware), notify the
Company in writing, which also includes email, of the existence of such a Proceeding, giving, as reasonably available at the time of such notice, reasonable details relating to the Proceeding, including the person(s) making (or threatening to make)
the respective Proceeding, the circumstances leading to such a Proceeding, the cause of action for the Proceeding and the possible costs associated with the Proceeding; 

 

	 	b)	 give to the Company and its professional advisers information and access to documents and records as the
Company may reasonably request, except where such access would result in a loss of privilege or would be adverse to the Covered Person’s interests or where the Covered Person is prevented by law from providing such access. In this connection,
the Company shall be entitled to require the Covered Person to take such actions and give such information and assistance, in order to avoid, mitigate, settle or defend the Proceeding as the Company may reasonably request; 

 

	 	c)	 allow the Company upon its request, and following regular consultation with the Covered Person, to conduct such
actions as the Company may deem appropriate in connection with any such Proceeding (including assuming the defense of such Proceeding). In this connection, the Covered Person shall give to the Company all assistance as the Company may reasonably
require in the conduct of such actions (except in cases where taking such action is adverse to his legitimate and personal interests); 

  

	 	d)	 make no admission of liability or enter into settlement discussions with any person in relation to any
Proceeding without the prior written consent of the Company (which shall not be unreasonably withheld); and 

  

	 	e)	 take all reasonable actions to mitigate any potential loss which may incur as a result of a Proceeding.

  
 5/9 

 Indemnity Agreement 

 

	5.2	 The Company shall be entitled to settle any Proceeding at its sole discretion and without the Covered
Person’s prior written consent, except where the terms of the settlement would (i) impose any costs, expense, loss liability, damage, penalty or limitation on the Covered Person or (ii) cause damage to the Covered Person’s image
or reputation. In each case of (i) and (ii) above, the Company may settle such Proceeding, provided that the Company obtains the Covered Person’s prior written consent, which the Covered Person shall not unreasonably delay or withhold. In
all cases, the Company shall not settle any Proceeding before notifying the Covered Person of its intention and consulting with the Covered Person as to the terms of the proposed settlement. The Covered Person and the Company shall take all actions
as may be necessary or advisable to effect such a settlement. 

  

	5.3	 Notwithstanding the foregoing, the Covered Person and the Company shall take all actions as may be required to
comply with the terms of any policy of a directors’ and officers’ liability insurance pursuant to Section 6. 

  

	5.4	 Notwithstanding any provision of this Agreement to the contrary, and subject to reimbursement pursuant to
Section 3, the Company shall advance to the Covered Person or pay directly, at the Company’s sole discretion, any Expenses actually and reasonably incurred by the Covered Person in connection with any Proceeding pursuant to Section 1
and 2 of this Agreement within 30 calendar days after the receipt by the Company of each statement requesting such advance from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest
free. 

  

	6.	 Liability Insurance 

 

	6.1	 To the extent the Company maintains an insurance policy or policies providing directors’ and
officers’ liability insurance, the Covered Person shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage in place for any Director or Officer. 

 

	6.2	 If, at the time the Company receives notice from any source of a Proceeding to which the Covered Person is a
party or a participant (as a witness or otherwise), the Company has director and officer liability insurance in effect, the Company shall give notice of such proceeding to the insurers in accordance with (the procedures set forth in) the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Covered Person, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

  

	6.3	 The Company shall indemnify the Covered Person for Expenses incurred by Covered Person in connection with any
reasonable action brought by Covered Person for recovery under any insurance policy referred to in this Section 6 and shall advance to the Covered Person any Expenses actually and reasonably incurred by the Covered Person in connection with
such action. 

  
 6/9 

 Indemnity Agreement 

 

	7.	 Subrogation 

In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of
the Covered Person, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including but not limited to the execution of such documents necessary to enable the Company effectively to bring suit to
enforce such rights. 
  

	8.	 No Duplication of Payments 

The Company shall not be liable under this Agreement to make any payment in connection with any Proceeding made against the Covered Person to
the extent the Covered Person has otherwise actually received payment (under an insurance policy or otherwise) of the amounts otherwise indemnifiable hereunder. 
  

	9.	 Effect of Termination of Service 

The indemnification provided by this Agreement shall, subject to the terms and conditions of this Agreement, continue for the Covered Person
after he or she has ceased to be a Director of Officer. 
  

	10.	 Binding Effect 

 

	10.1	 This Agreement shall be binding upon and inure to the benefit of and be enforceable by the Parties hereto and
their respective successors, assigns, including any direct or indirect successor by purchase, merger, amalgamation, consolidation or otherwise to all or substantially all of the business or assets of the Company, spouse, heirs, and personal and
legal representatives. This Agreement shall continue in effect, subject to the terms and conditions of this Agreement, regardless of whether the Covered Person continues to serve as a Director or Officer of the Company or as a director of officer of
any other legal entity at the request of the board of directors of the Company. 

  

	10.2	 The obligations of the Company under this Agreement are subject to applicable laws and the Articles of
Association. 

  

	11.	 Amendments 

This Agreement may only be modified or amended by a document signed by all Parties. Any provision contained in this Agreement may only be
waived by a document signed by the Party waiving such provision. 

  
 7/9 

 Indemnity Agreement 

 

	12.	 Severability 

If any part or provision of this Agreement or the application of any such part or provision to any person or circumstance shall be held to be
invalid, illegal or unenforceable on any respect by any competent arbitral tribunal, court, governmental or administrative authority, (a) such invalidity, illegality or unenforceability shall not affect any other part or provision of this
Agreement or the application of such part or provision to any other person or circumstances, and (b) the Parties shall endeavor to negotiate a substitute provision that best reflects the economic intentions of the Parties without being invalid,
illegal or unenforceable, and shall execute all agreements and documents required in this connection. 
  

	13.	 Applicable Law and Jurisdiction 

 

	13.1	 This Agreement and the relationship among the Parties and any
non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with the substantive laws of Switzerland (without regard to conflict of laws rules).

  

	13.2	 Any dispute arising out of or in connection with this Agreement, including but not limited to disputes on it
conclusion, binding effect, amendment and termination, shall be submitted to the exclusive jurisdiction of the courts of the City of Zurich, Switzerland. 

* * * * * 
 [Signatures on the
following pate] 

  
 8/9 

 Indemnity Agreement 

 

 SO AGREED as of the date stated on the cover page of this Agreement 

 

									
	The Company	 		 	
			
	On Holding AG	 		 	
					
	By:	 	 	 		 	By:	 	 
	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
				
	The Covered Person	 		 		 	
					
	By:	 	 	 		 		 	
	Name:	 		 		 		 	

  
 9/9Exhibit 4.1

 

	
    NUMBER

    U-____________

     
	 	UNITS
	SEE REVERSE FOR

CERTAIN

 DEFINITIONS	AQUARIUS II ACQUISITION CORP.	 

 

CUSIP G0441M 119 

 

UNITS CONSISTING OF
ONE ORDINARY SHARE, ONE-HALF OF ONE WARRANT AND ONE RIGHT

 

THIS CERTIFIES THAT _______________________________________________________________

 

is the owner of ______________________________________________________________________Units.

 

Each
Unit (“Unit”) consists of one ordinary share, with a par value $0.0001 per share, of Aquarius II Acquisition Corp., a
Cayman Islands company (the “Company”), one-half of one redeemable warrant (“Warrant(s)”) and one right
(“Right(s)”). Each whole redeemable Warrant entitles the holder thereof to purchase one ordinary share at a price of
$11.50 per full share (subject to adjustment), upon the later to occur of (i) 30 days after the Company’s completion of a
merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination
with one or more businesses or entities (a “Business Combination”) and (ii) 12 months from the date that the
registration statement is declared effective by the Securities and Exchange Commission (the “SEC”) (or up to 18 months
from the date that the registration statement is declared effective by the SEC if we extend the period of time to consummate a
business combination). Each right entitles the holder thereof to receive one-tenth (1/10) of one ordinary share upon consummation of
a Business Combination. The ordinary shares, Warrants and Rights comprising the Units represented by this certificate are not
transferable separately prior to the 52nd day after the date of the prospectus relating to the Company’s initial public
offering, unless EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”) as the representative of the
underwriters, determines that an earlier date is acceptable, but in no event will the ordinary shares and Warrants be traded
separately until the Company files with the SEC a current report on Form 8-K which includes an audited balance sheet reflecting the
receipt by the Company of the gross proceeds from its initial public offering including the proceeds received by the Company from
the exercise of the over-allotment option thereto, if the over-allotment option is exercised. If the over-allotment option is
exercised after the date of the prospectus, we will file an amendment to the Form 8-K or a new Form 8-K to provide updated financial
information to reflect the exercise of the over-allotment option. We will also include in the Form 8-K, or amendment thereto, or in
a subsequent Form 8-K, information indicating if the underwriters has allowed separate trading of the ordinary shares, Warrant
and Rights prior to the 52nd day after the date of the prospectus.

 

The terms of the Warrants are governed by a
warrant agreement (the “Warrant Agreement”), dated as of [____], 2021, and the terms of the Rights are governed by a
rights agreement (the “Rights Agreement”), dated as of [ ], both between the Company and American Stock Transfer &
Trust Company, LLC as the warrant agent/right agent, and are subject to the terms and provisions contained therein, all of which
terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement and the Rights
Agreement are on file at the office of American Stock Transfer & Trust Company, LLC at 6201 15th Avenue, Brooklyn, New York, NY
11219, and are available to any Warrant Holder and Rights Holder, on written request and without cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal of the Company and
the facsimile signatures of its duly authorized officers.

 

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

 

[Seal]

  

	By	 	 	 
	 	Chairman	 	Chief Financial Officer

 

     

     

    

 

AQUARIUS II ACQUISITION CORP. 

 

The Company will furnish without
charge to each shareholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM –	as tenants in common	UNIF GIFT MIN ACT - _____ Custodian ______
	TEN ENT –	as tenants by the entireties	                                          (Cust)                      (Minor)
	JT TEN –	as joint tenants with right of survivorship	                             under Uniform Gifts to Minors
	 	and not as tenants in common	                             Act ______________
	 	 	                                              (State)

 

Additional Abbreviations may also be used though
not in the above list.

 

For value received, ___________________________
hereby sell(s), assign(s) and transfer(s) unto

 

	PLEASE INSERT SOCIAL SECURITY OR

 OTHER	 
	IDENTIFYING NUMBER OF

 ASSIGNEE(S)	 

 

	
     

     
	 

 

	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE(S))
	 
	 
	 
	 

 

	 	Units

 

	 
	represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

	 	 Attorney

to transfer the said Units on the books of the within named Company
will full power of substitution in the premises.

 

Dated ________________

 

    2

     

    

 

	 	 
	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

	 	 
	
    THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION

    (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS
    WITH

    MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,

    PURSUANT TO S.E.C. RULE 17Ad-15).
	 

 

The holder of this certificate shall be entitled
to receive funds with respect to the underlying ordinary shares from the trust fund only in the event of the Company’s liquidation
upon failure to consummate a business combination or if the holder seeks to convert his or her respective ordinary shares underlying the
unit upon consummation of such business combination or in connection with certain amendments to the Company’s Amended and Restated
Memorandum and Articles of Association. In no other circumstances shall the holder have any right or interest of any kind in or to the
trust fund.

 

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]