Document:

Exhibit 10.1

 

Execution Copy

 

EQUITY GRANT AGREEMENT

 

This EQUITY GRANT AGREEMENT (this “Grant
Agreement”) is entered into on December 8, 2022, by and between JATT Acquisition Corp, a Cayman Islands exempted company (the
 “Company”), and Eli Lilly and Company (“Grantee”).

 

WHEREAS, pursuant to, and
upon the terms and subject to the conditions set forth therein, the Business Combination Agreement dated on or after the date of this
Grant Agreement (the “Business Combination Agreement”), among the Company, JATT Merger Sub, a Cayman Islands exempted
company and wholly owned subsidiary of the Company (“JATT Merger Sub”), JATT Merger Sub 2, a Cayman Islands exempted
company and wholly owned subsidiary of the Company (“JATT Merger Sub 2”), Zura Bio Limited, a limited company incorporated
under the laws of England and Wales (“Zura”) and Zura Bio Holdings Ltd, a Cayman Islands exempted company (“Zura
Holdco”), the following transactions (collectively, the “Transaction” and the date on which the Transaction
actually occurs, the “Closing Date”) will occur on the Closing Date: (i) JATT Merger Sub will merge with and
into Zura Holdco, with Zura Holdco continuing as the surviving company of the merger and a wholly owned subsidiary of the Company; and
(ii) immediately following the transaction described in (i), Zura Holdco will merge with and into JATT Merger Sub 2, with JATT Merger
Sub 2 continuing as the surviving company of the merger;

 

WHEREAS, Grantee and Z33
Bio Inc., a Delaware corporation and subsidiary of Zura (“Z33”), have entered into a license, development and commercialization
agreement (the “License Agreement”) pursuant to which Grantee granted a license to Z33 (the “License”)
for certain intellectual property rights; and

 

WHEREAS, in consideration
for entry into the License Agreement, the Company has agreed to grant to Grantee 550,000 ordinary shares, par value $0.0001 per share,
of the Company, as adjusted for any stock splits, stock dividends, reorganizations, recapitalizations and the like (“Shares”).

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending
to be legally bound hereby, the parties hereto hereby agree as follows:

 

		1.	Equity Grant. Upon satisfaction or waiver in writing of the
                                            conditions set forth in Section 2 below, the Company hereby agrees to grant the Grantee
                                            the Shares, which shall be issued upon the consummation of the Transaction (such grant, the
                                            “Equity Grant”). The Equity Grant shall occur on the Closing Date.

 

		2.	Closing.

 

		a)	The consummation of the Equity Grant (the “Closing”)
                                            shall be contingent upon the consummation of the Transaction and occur on the Closing Date
                                            immediately prior to or concurrently with the consummation of the Transaction.

 

		b)	At least five Business Days before the anticipated Closing Date, the
                                            Company shall deliver written notice to Grantee (the “Closing Notice”)
                                            specifying the anticipated Closing Date. At the Closing, the Company shall issue the Shares
                                            to Grantee and cause the Shares to be registered in book entry form, free and clear of any
                                            liens or other restrictions (other than those arising under this Grant Agreement or state
                                            or federal securities laws), in the name of Grantee (or its nominee in accordance with its
                                            delivery instructions) or to a custodian designated by Grantee, as applicable. For the purposes
                                            of this Grant Agreement, “Business Day” means any day other than a Saturday,
                                            Sunday or a day on which the Federal Reserve Bank of New York is closed.

 

		c)	Prior to the Closing Date, the Shares shall have been approved for listing
                                            on the New York Stock Exchange (the “NYSE”) the NYSE American Exchange
                                            (“NYSE American”) or the Nasdaq Stock Exchange LLC (“Nasdaq”) (collective
                                            referred to as the “Principal Exchange”), subject to official notice of issuance,
                                            and no suspension of the qualification of the Shares for, offering or sale or trading on
                                            the Principal Exchange, or, to the Company’s knowledge, initiation or threatening of
                                            any proceedings for any of such purposes, shall have occurred.

 

     

     

    

 

		d)	On the Closing Date, Grantee, the Company and the parties thereto shall
                                            enter into the Registration Rights Agreement in the form set forth on Exhibit A hereto.

 

		e)	On the Closing Date, Grantee, the Company and the parties thereto shall
                                            enter into the Lock Up Agreement in the form set forth on Exhibit B hereto.

 

		3.	Company Representations and Warranties. For purposes of this
                                            Section 3, the term “Company” shall refer to (i) the Company as of
                                            the date hereof, and (ii) for purposes of the representations contained in subsections
                                            (e), (h) and (k) of this Section 3 and to the extent such representations
                                            and warranties are made as of the Closing Date, the combined company after giving effect
                                            to the Transaction as of the Closing Date. The Company represents and warrants to Grantee
                                            that as of the date hereof:

 

		a)	The Company (i) has been duly incorporated and is validly existing
                                            as a corporation in good standing under the laws of the Cayman Islands, (ii) has the
                                            requisite corporate power and authority to own, lease and operate its properties, to carry
                                            on its business as it is now being conducted and to enter into and perform its obligations
                                            under this Grant Agreement, and (iii) is duly licensed or qualified to conduct its business
                                            and, if applicable, is in good standing under the laws of each jurisdiction (other than its
                                            jurisdiction of incorporation) in which the conduct of its business or the ownership of its
                                            properties or assets requires such license or qualification, except, with respect to the
                                            foregoing clause (iii), where the failure to be in good standing would not reasonably be
                                            expected to have a Company Material Adverse Effect. For purposes of this Grant Agreement,
                                            a “Company Material Adverse Effect” means any event, circumstance, change,
                                            development, effect or occurrence (collectively “Effect”) that, individually
                                            or in the aggregate with all other Effects, (a) is or would reasonably be expected to
                                            be materially adverse to the business, financial condition or results of operations of the
                                            Company and its subsidiaries, taken as a whole; or (b) would prevent, materially delay
                                            or materially impede the performance by the Company or its subsidiaries of their respective
                                            obligations under this Grant Agreement, the Business Combination Agreement or the consummation
                                            of the Transaction before the Outside Date (as defined below); provided, however, that, in
                                            the case of clause (a), none of the following (or the effect of any of the following) shall
                                            be deemed to constitute, alone or in combination, or be taken into account in the determination
                                            of whether, there has been or will be a Company Material Adverse Effect:

 

(i) any change or proposed change in applicable law
or GAAP or IFRS, as applicable (including, in each case, the interpretation thereof) or changes in enforcement policies or official interpretations
thereof or decisions of general applicability by any governmental entity, in each case, after the date of this Grant Agreement; (ii) events,
changes or conditions generally affecting the industries or geographic areas in which the Company operates; (iii) any changes in
general economic conditions, including changes in the credit, debt, securities, financial or capital markets (including changes in interest
or exchange rates, prices of any security or market index or commodity or any disruption of such markets); (iv) acts of war, sabotage,
civil unrest, protests, demonstrations, cyberattacks or terrorism, or any escalation or worsening of any such acts of war, sabotage,
civil unrest, protests, demonstrations, cyberattacks or terrorism, or changes in global, national, regional, state or local political
or social conditions; (v) any hurricane, tornado, flood, earthquake, mudslide, wildfire, natural disaster, epidemic, disease outbreak,
pandemic (including, for the avoidance of doubt, the novel coronavirus, SARS-CoV-2 or COVID-19 and all related measures, strains and
sequences) or other acts of God, (vi) any actions taken or not taken by the Company as required by this Grant Agreement, the Business
Combination Agreement or any other agreement executed and delivered in connection with the Transaction and specifically contemplated
by the Business Combination Agreement, (vii) any failure of Zura and its subsidiaries, taken as a whole to meet any projections,
forecasts, guidance, estimates or financial or operating predictions of revenue, earnings, cash flow or cash position (provided, that
any Effect underlying such failure (except to the extent otherwise excluded by other clauses in this definition) may be taken into account
in determining whether a Company Material Adverse Effect has occurred or would reasonably be expected to occur) or (viii) any Effect
attributable to the announcement or execution, pendency, negotiation or consummation of this Grant Agreement or the Transaction (including
the impact thereof on relationships with customers, suppliers, employees, investors, or other third parties related thereto), except
in the cases of clauses (i) through (v), to the extent that the Company is materially and disproportionately affected thereby as
compared with other participants in the industry in which the Company operates.

 

     

     

    

 

		b)	As of the Closing Date, the Shares will be duly authorized and, when
                                            issued and delivered to Grantee in accordance with the terms of this Grant Agreement, will
                                            be validly issued.

 

		c)	This Grant Agreement has been duly authorized, executed and delivered
                                            by the Company, and assuming the due authorization, execution and delivery of the same by
                                            Grantee, this Grant Agreement shall constitute the valid and binding obligation of the Company,
                                            enforceable against the Company in accordance with its terms, except as such enforceability
                                            may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting
                                            creditors generally and by the availability of equitable remedies.

 

		d)	The execution and delivery of this Grant Agreement, the issuance of
                                            the Shares and the compliance by the Company with all of the provisions of this Grant Agreement
                                            and the consummation of the transactions contemplated herein will not conflict with or result
                                            in a breach or violation of any of the terms or provisions of, or constitute a default under,
                                            or result in the creation or imposition of any lien, charge or encumbrance upon any of the
                                            property or assets of the Company pursuant to the terms of (i) any indenture, mortgage,
                                            deed of trust, loan agreement, lease, license or other agreement or instrument to which the
                                            Company is a party or by which the Company is bound or to which any of the property or assets
                                            of the Company is subject; (ii) the organizational documents of the Company; or (iii) any
                                            statute or any judgment, order, rule or regulation of any court or governmental agency
                                            or body, domestic or foreign, having jurisdiction over the Company or any of its properties
                                            that, in the case of clauses (i) and (iii), would reasonably be expected to have a Company
                                            Material Adverse Effect.

 

		e)	Assuming the accuracy of all of Grantee’s representations and
                                            warranties set forth in Section 4 of this Grant Agreement, the Company is not required
                                            to obtain any consent, waiver, authorization or order of, give any notice to, or make any
                                            filing or registration with, any court or other federal, state, local or other governmental
                                            authority, self-regulatory organization or other person in connection with the execution,
                                            delivery and performance of this Grant Agreement (including, without limitation, the issuance
                                            of the Shares), other than (i) filings required by applicable state securities laws,
                                            (ii) filings with the United States Securities and Exchange Commission (the “Commission”),
                                            (iii) filings required by the Principal Exchange, including with respect to obtaining
                                            approval of the Company’s shareholders, (iv) filings required to consummate the
                                            Transaction as provided under the Business Combination Agreement, (v) any filing of
                                            notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or any law or
                                            regulation of any other jurisdiction related to competition or merger control, if applicable,
                                            (vi) those that will be obtained, made or given, as applicable, on or prior to the Closing,
                                            and (vii) consents, waivers, authorizations, orders, notices or filings, the failure
                                            of which to obtain would not reasonably be expected to have a Company Material Adverse Effect
                                            or have a material adverse effect on the Company’s legal authority to consummate the
                                            transactions contemplated hereby, including the issuance of the Shares.

 

     

     

    

 

		f)	Other than where the failure to timely file would not reasonably be
                                            expected to have a Company Material Adverse Effect, as of their respective dates, all reports
                                            required to be filed by the Company with the Commission (the “SEC Reports”)
                                            complied in all material respects with the applicable requirements in existence as of such
                                            dates of the Securities Act of 1933, as amended (the “Securities Act”)
                                            and the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
                                            and the rules and regulations of the Commission promulgated thereunder, and none of
                                            the SEC Reports, when filed, contained any untrue statement of a material fact or omitted
                                            to state a material fact required to be stated therein or necessary in order to make the
                                            statements therein, as of such dates, in the light of the circumstances under which they
                                            were made, not misleading. Except as disclosed in the SEC Reports, the financial statements
                                            of the Company included in the SEC Reports comply in all material respects with applicable
                                            accounting requirements and the rules and regulations of the Commission with respect
                                            thereto as in effect at the time of filing and fairly present in all material respects the
                                            financial position of the Company as of and for the dates thereof and the results of operations
                                            and cash flows for the periods then ended, subject, in the case of unaudited statements,
                                            to normal, year-end audit adjustments.

 

		g)	As of the date hereof, and immediately prior to the Closing when the
                                            Company’s amended and restated memorandum and articles of association shall be amended
                                            and restated to effect the Transaction, the entire authorized share capital stock of the
                                            Company consists of 200,000,000 Class A ordinary shares (“Class A Shares”),
                                            20,000,000 Class B ordinary shares, and 1,000,000 preference shares, par value $0.0001
                                            per share (“Preference Shares”). As of the Closing Date (and immediately
                                            after the consummation of the Transaction), the entire authorized capital stock of the Company
                                            will consist of 200,000,000 ordinary shares and 1,000,000 Preference Shares.

 

		h)	Assuming the accuracy of all of Grantee’s representations and
                                            warranties set forth in Section 4 of this Grant Agreement, no registration under the
                                            Securities Act is required for the offer and issuance of the Shares by the Company to Grantee
                                            and the Shares are not being offered in a manner involving a public offering under, or in
                                            a distribution in violation of, the Securities Act or any state securities law.

 

		i)	Neither the Company nor any person acting on its behalf has engaged
                                            or will engage in any form of general solicitation or general advertising (within the meaning
                                            of Regulation D) in violation of the Securities Act in connection with any offer or issuance
                                            of the Shares.

 

		j)	No broker or finder is entitled to any brokerage or finder’s fee
                                            or commission from the Company solely in connection with the issuance of the Shares to Grantee.

 

		k)	Except for such matters as have not had and would not reasonably be
                                            expected to have a Company Material Adverse Effect, the Company is in compliance with all
                                            laws applicable to the conduct of its business. The Company has not received any written,
                                            or to its knowledge, other communication from a governmental entity that alleges that the
                                            Company is not in compliance with or is in default or violation of any applicable law, except
                                            where such non- compliance, default or violation would not reasonably be expected to have,
                                            individually or in the aggregate, a Company Material Adverse Effect.

 

		l)	As of the date hereof, the issued and outstanding Class A Shares
                                            are registered pursuant to Section 12(b) of the Exchange Act and listed for trading
                                            on the NYSE. There is no suit, action, claim, proceeding or investigation pending or, to
                                            the knowledge of the Company, threatened against the Company by NYSE or the Commission with
                                            respect to any intention by such entity to deregister the Class A Shares or to prohibit
                                            or terminate the listing of the Class A Shares on NYSE, excluding, for the purposes
                                            of clarity, the customary ongoing review by NYSE in connection with the Transaction.

 

		m)	There are no shareholder agreements, voting trusts or other agreements
                                            or understandings to which the Company is a party or by which it is bound relating to the
                                            voting of any securities of the Company, other than (1) as set forth in the SEC Reports
                                            and (2) as contemplated by the Business Combination Agreement.

 

		n)	The Company has not engaged in any “directed selling efforts”
                                            (within the meaning of Regulation S) with respect to the Shares, and the Company and its
                                            affiliates have complied with the offering restrictions requirement of Regulation S. The
                                            Company is a “foreign issuer” as defined in Regulation S.

 

     

     

    

 

		o)	The Company has timely filed all material tax returns and paid all material
                                            amounts of taxes required to be paid (whether or not such taxes are shown as due on such
                                            tax returns) as of the date hereof. The Company has made adequate charges, accruals and reserves
                                            in accordance with GAAP in the applicable financial statements in respect of all material
                                            taxes for all periods as to which the tax liability of the Company has not been finally determined.
                                            No material tax deficiency has been determined adversely to the Company nor does the Company
                                            have any written notice of any material tax deficiency which would reasonably be expected
                                            to be determined adversely to the Company.

 

		4.	Grantee Representations and Warranties. Grantee represents
                                            and warrants to the Company that as the date hereof:

 

		a)	Grantee (i) is duly organized, validly existing and in good standing
                                            under the laws of its jurisdiction of incorporation, and (ii) has the requisite power
                                            and authority to enter into and perform its obligations under this Grant Agreement.

 

		b)	This Grant Agreement has been duly executed and delivered by Grantee,
                                            and assuming the due authorization, execution and delivery of the same by the Company, this
                                            Grant Agreement shall constitute the valid and legally binding obligation of Grantee, enforceable
                                            against Grantee in accordance with its terms, except as such enforceability may be limited
                                            by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors
                                            generally and by the availability of equitable remedies.

 

		c)	Grantee (A) is a “qualified institutional buyer” (as
                                            defined in Rule 144A under the Securities Act) or an institutional “accredited
                                            investor” (within the meaning of Rule 501(a)(1), (2), (3), (7), (9) or (12)
                                            under the Securities Act) and is not an entity formed for the specific purpose of acquiring
                                            the Shares; (B) is a sophisticated investor, experienced in investing in private equity
                                            transactions and capable of evaluating investment risks independently, both in general and
                                            with regard to all transactions and investment strategies involving a security or securities,
                                            (C) has exercised independent judgment in evaluating its acquisition of the Shares,
                                            (D) is acquiring the Shares only for its own account and not for the account of others,
                                            and (E) is not acquiring the Shares with a view to, or for offer or sale in connection
                                            with, any distribution thereof in violation of the Securities Act. The Shares have not been
                                            registered under the Securities Act or any other applicable securities laws of any other
                                            jurisdiction, are being offered in transactions not requiring registration under the Securities
                                            Act, and unless so registered, may not be reoffered, resold or otherwise transferred except
                                            in compliance with the registration requirements of the Securities Act or any other applicable
                                            securities laws, pursuant to any exemption therefrom or in a transaction not subject thereto.
                                            Grantee understands that each of the Shares may not be offered, resold, transferred, pledged
                                            (other than in connection with ordinary course prime brokerage relationships) or otherwise
                                            disposed of by Grantee absent an effective registration statement under the Securities Act,
                                            except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant
                                            to offers and sales that occur outside the United States within the meaning of Regulation
                                            S under the Securities Act or (iii) pursuant to another applicable exemption from the
                                            registration requirements of the Securities Act, and, in each of cases (ii) and (iii),
                                            in accordance with any applicable securities laws of the states and other jurisdictions of
                                            the United States, and that any book-entry positions or certificates representing the Shares
                                            shall contain the legend set forth in this Section 4(c). Grantee understands
                                            and agrees that the Shares will be subject to transfer restrictions under applicable securities
                                            laws and, as a result of these transfer restrictions, Grantee may not be able to readily
                                            offer, resell, transfer, pledge (other than in connection with ordinary course prime brokerage
                                            relationships) or otherwise dispose of the Shares and may be required to bear the financial
                                            risk of an investment in the Shares for an indefinite period of time. Grantee understands
                                            that it has been advised to consult legal counsel and tax and accounting advisors prior to
                                            making any offer, resale, pledge, transfer or disposition of any of the Shares.

 

     

     

    

 

Each book entry for the Shares shall contain a notation,
and each certificate (if any) evidencing the Shares shall be stamped or otherwise imprinted with a legend, in substantially the following
form (or to substantially the following effect):

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE (NOTWITHSTANDING THE FOREGOING, THE SECURITIES REPRESENTED
HEREBY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES).
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF ZURA BIO LIMITED. (THE “COMPANY”)
THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS
THE LATER OF

 

(X) ONE YEAR AFTER THE ISSUE DATE
HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH
LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

		(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

(B)            PURSUANT
TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT AND IS EFFECTIVE AT THE TIME OF SUCH TRANSFER, OR

 

(C)            PURSUANT
TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES
ACT, OR

 

(D)            PURSUANT
TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.

 

PRIOR TO THE REGISTRATION OF ANY PERMITTED
TRANSFER IN ACCORDANCE WITH THE ABOVE, THE COMPANY RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS
OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH
THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.

 

Grantee understands and agrees that Grantee
is acquiring the Shares directly from the Company. Grantee further acknowledges that there have not been, and Grantee hereby expressly
and irrevocably acknowledges and agrees that it is not relying on, any representations, warranties, covenants or, agreements or statements
made to Grantee by or on behalf of the Company, Zura or the Company’s or Zura’s respective affiliates or any of the respective
subsidiaries, control persons, officers, directors, employees, partners, agents or representatives, or any other party to the Transaction
or any other person or entity, expressly or by implication, (including by omission), other than those representations, warranties, covenants,
agreements and statements of the Company expressly set forth in this Grant Agreement, and Grantee is not relying on any other purported
representations, warranties, covenants, agreements or statements (including by omission).

 

     

     

    

 

		d)	In making its decision to acquire the Shares, Grantee has relied solely
                                            upon independent investigation made by Grantee and upon the representations, warranties and
                                            covenants of the Company expressly set forth herein (and no other representations and warranties).
                                            Grantee acknowledges and agrees that Grantee has received and had adequate time to review
                                            such information as Grantee deems necessary in order to make an investment decision with
                                            respect to the Shares, including with respect to the Company and the Transaction (including
                                            Zura and its subsidiaries (collectively, the “Acquired Companies”)). Grantee
                                            has made its own assessment and is satisfied concerning the relevant tax and other economic
                                            considerations relevant to its investment in the Shares. Grantee represents and agrees that
                                            Grantee and Grantee’s professional advisor(s), if any, have had the full opportunity
                                            to ask such questions, receive such answers and obtain such information as Grantee and such
                                            undersigned’s professional advisor(s), if any, have deemed necessary to make an investment
                                            decision with respect to the Shares.

 

		e)	Grantee acknowledges that the Company represents and warrants that the
                                            Shares (i) were not offered by any form of general solicitation or general advertising,
                                            including methods described in Section 502(c) of Regulation D under the Securities
                                            Act, and (ii) are not being offered in a manner involving a public offering under, or
                                            in a distribution in violation of, the Securities Act, or any state securities laws.

 

		f)	Alone, or together with any professional advisor(s), Grantee represents
                                            and acknowledges that Grantee has adequately analyzed and fully considered the risks of an
                                            investment in the Shares and determined that the Shares are a suitable investment for Grantee
                                            and that Grantee is able at this time and in the foreseeable future to bear the economic
                                            risk of a total loss of Grantee’s investment in the Company. Grantee acknowledges specifically
                                            that a possibility of total loss exists.

 

		g)	Grantee understands and agrees that no federal or state agency has passed
                                            upon or endorsed the merits of the offering of the Shares or made any findings or determination
                                            as to the fairness of this investment.

 

		h)	Grantee is not (i) a person or entity named on the List of Specially
                                            Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s
                                            Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued
                                            by the President of the United States and administered by OFAC, or any other list of prohibited
                                            or restricted parties promulgated by OFAC, the Department of Commerce, or the Department
                                            of State (“Consolidated Sanctions Lists”), or a person or entity prohibited
                                            or restricted by any OFAC sanctions program, or a person or entity whose property and interests
                                            in property subject to U.S. jurisdiction are otherwise blocked under any U.S. laws, Executive
                                            Orders or regulations, (ii) a person or entity listed on the Sectoral Sanctions Identifications
                                            (“SSI”) List maintained by OFAC or otherwise determined by OFAC to be
                                            subject to one or more of the Directives issued under Executive Order 13662 of March 20,
                                            2014, or on any other of the Consolidated Sanctions Lists, (iii) an entity owned, directly
                                            or indirectly, individually or in the aggregate, 50 percent or more by, acting on behalf
                                            of, or controlled by, one or more persons described in subsections (i) or (ii), (iv) organized,
                                            incorporated, established, located, resident or born in, or a citizen, national or the government,
                                            including any political subdivision, agency or instrumentality thereof, of, Cuba, Iran,
                                            North Korea, Myanmar, Venezuela, Syria, the Crimea region of Ukraine, the so-called People’s
                                            Republics of Luhansk and Donetsk of Ukraine or any other country or territory embargoed or
                                            subject to substantial trade restrictions by the United States, (v) a person or entity
                                            named on the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”)
                                            Denied Persons List, Entity List, or Unverified List (“BIS Lists”), (vi) a
                                            Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515,
                                            or (vii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S.
                                            shell bank (collectively, (i) through (vii), a “Restricted Person”).

 

     

     

    

 

		i)	Grantee agrees that, notwithstanding Section 7(i) of this
                                            Grant Agreement, the Company and Zura may rely upon the representations and warranties made
                                            by Grantee to the Company in this Grant Agreement.

 

		j)	No broker, finder or other financial consultant has acted on behalf
                                            of Grantee in connection with this Grant Agreement or the transactions contemplated hereby
                                            in such a way as to create any liability on the Company.

 

		k)	Except for the representations and warranties contained in this Section 4,
                                            Grantee makes no express or implied representation or warranty, and Grantee hereby disclaims
                                            any such representation or warranty with respect to the execution and delivery of this Grant
                                            Agreement and the consummation of the transactions contemplated herein.

 

		5.	Termination.

 

		a)	This Grant Agreement shall terminate and be void and of no further force
                                            and effect, and all rights and obligations of the parties hereunder shall terminate without
                                            any further liability on the part of any party in respect thereof, upon the earlier to occur
                                            of (i) such date and time as the Business Combination Agreement is terminated in accordance
                                            with its terms or (ii) upon the mutual written agreement of the Company and Grantee
                                            to terminate this Grant Agreement. The Company shall notify Grantee of the termination of
                                            the Business Combination Agreement promptly after the termination thereof.

 

		b)	Nothing in this Section 5 will relieve any party from liability
                                            for any willful breach hereof prior to the time of termination, and each party will be entitled
                                            to any remedies at law or in equity to recover losses, liabilities or damages arising from
                                            such breach.

 

		6.	Trust Account Waiver. Grantee hereby acknowledges that the
                                            Company has established a trust account (the “Trust Account”) containing
                                            the proceeds of its initial public offering (the “IPO”) and from certain
                                            private placements occurring simultaneously with the IPO (including interest accrued from
                                            time to time thereon) for the benefit of the public shareholders of the Company and certain
                                            other parties (including the underwriters of the IPO). For and in consideration of the Company
                                            entering into this Grant Agreement, and for other good and valuable consideration, the receipt
                                            and sufficiency of which are hereby acknowledged, Grantee hereby (i) agrees that it
                                            does not now and shall not at any time hereafter have any right, title, interest or claim
                                            of any kind in or to any assets held in the Trust Account, and shall not make any claim against
                                            the Trust Account, in each case, to the extent such claim arises as a result of, in connection
                                            with or relating in any way to this Grant Agreement or any other matter, and regardless of
                                            whether such claim arises based on contract, tort, equity or any other theory of legal liability
                                            (any and all such claims are collectively referred to hereafter as the “Released
                                            Claims”), (ii) irrevocably waives any Released Claims that it may have against
                                            the Trust Account now or in the future as a result of, or arising out of, any negotiations,
                                            contracts or agreements with the Company, and (iii) will not seek recourse against the
                                            Trust Account for any reason whatsoever; provided however, that nothing in this Section 6
                                            shall be deemed to limit Grantee’s right to distributions or redemptions from the Trust
                                            Account in accordance with the Company’s amended and restated memorandum and articles
                                            of association in respect of any redemptions by Grantee of its Class A Shares currently
                                            outstanding on the date hereof (if any) and acquired by any means other than pursuant to
                                            this Grant Agreement. Grantee agrees not to seek recourse or make or bring any action, suit,
                                            claim or other proceeding against the Trust Account as a result of, or arising out of, this
                                            Grant Agreement, the transactions contemplated hereby, the Shares regardless of whether such
                                            claim arises based on contract, tort, equity or any other theory of legal liability. Grantee
                                            acknowledges and agrees that it shall not have any redemption rights with respect to the
                                            Shares pursuant to the Company’s organizational documents in connection with the Transaction
                                            or any other business combination, any subsequent liquidation of the Trust Account, the Company
                                            or otherwise. In the event Grantee has any claim against the Company as a result of, or arising
                                            out of, this Grant Agreement, the transactions contemplated hereby, or the Shares, it shall
                                            pursue such claim solely against the Company and its assets outside the Trust Account and
                                            not against the Trust Account or any monies or other assets in the Trust Account.

 

     

     

    

 

		7.	Miscellaneous.

 

		a)	All notices, requests, demands, claims, and other communications hereunder
                                            shall be in writing. Any notice, request, demand, claim, or other communication hereunder
                                            shall be deemed duly given (i) when delivered personally to the recipient, (ii) when
                                            sent by electronic mail, on the date of transmission to such recipient; (iii) one Business
                                            Day after being sent to the recipient by reputable overnight courier service (charges prepaid),
                                            or (iv) four Business Days after being mailed to the recipient by certified or registered
                                            mail, return receipt requested and postage prepaid, and, in each case, addressed to the intended
                                            recipient at its address specified on the signature page hereof or to such electronic
                                            mail address or address as subsequently modified by written notice given in accordance with
                                            this Section 7(a).

 

		b)	Grantee acknowledges that the Company will rely on the acknowledgments,
                                            understandings, agreements, representations and warranties made by Grantee contained in this
                                            Grant Agreement. Prior to the Closing, Grantee agrees to promptly notify the Company if it
                                            becomes aware that any of the acknowledgments, understandings, agreements, representations
                                            and warranties of Grantee set forth herein are no longer accurate in all material respects.
                                            The Company acknowledges that Grantee and others will rely on the acknowledgments, understandings,
                                            agreements, representations and warranties contained in this Grant Agreement.

 

		c)	Each of the Company and Grantee is irrevocably authorized to produce
                                            this Grant Agreement or a copy hereof to any interested party as requested or required by
                                            law, rule or regulation in any administrative or legal proceeding or official inquiry
                                            with respect to the matters covered hereby; provided that, with respect to production by
                                            the Company, such party will provide Grantee with at least three Business Days’ prior
                                            written notice of such production to the extent legally permissible and subject to Section 7(r).

 

		d)	Regardless of whether the Closing occurs, Grantee shall pay all of its
                                            own expenses in connection with this Grantee Agreement and the transactions contemplated
                                            herein.

 

		e)	Neither this Grant Agreement nor any rights that may accrue to the Company
                                            hereunder may be transferred or assigned. Neither this Grant Agreement nor any rights that
                                            may accrue to Grantee hereunder (other than the Shares acquired hereunder, if any) may be
                                            transferred or assigned. Notwithstanding the foregoing, Grantee may assign its rights and
                                            obligations under this Grant Agreement to one or more entities under the control of, or under
                                            common control with, Grantee or, with the Company’s prior written consent, to another
                                            person.

 

		f)	[Reserved.]

 

		g)	All the agreements, representations and warranties made by each party
                                            hereto in this Grant Agreement shall survive the Closing.

 

		h)	This Grant Agreement may not be amended, modified, waived or terminated
                                            except by an instrument in writing, signed by each of the parties hereto. Upon the effectuation
                                            of such waiver, modification, amendment or termination in conformance with this Section 7(h),
                                            such amendment, modification, waiver or termination shall be binding on Grantee and effective
                                            as to all of this Grant Agreement.

 

		i)	This Grant Agreement constitutes the entire agreement, and supersedes
                                            all other prior agreements, understandings, representations and warranties, both written
                                            and oral, among the parties hereto, with respect to the subject matter hereof, except that
                                            any confidentiality agreement with respect to the undersigned or its affiliates shall remain
                                            in full force and effect following the amendment, modification, waiver or termination of
                                            this Grant Agreement.

 

     

     

    

 

		j)	Except as otherwise provided herein, this Grant Agreement shall be binding
                                            upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators,
                                            successors, legal representatives, and permitted assigns, and the agreements, representations,
                                            warranties, covenants and acknowledgments contained herein shall be deemed to be made by,
                                            and be binding upon, such heirs, executors, administrators, successors, legal representatives
                                            and permitted assigns. In addition to, and notwithstanding anything contained herein to the
                                            contrary, (i) the Company acknowledges and agrees that Z33 is a third-party beneficiary
                                            of the acknowledgments, understandings, agreements, covenants, representations and warranties
                                            made by the Company contained in this Grant Agreement, and (ii) Grantee acknowledges
                                            and agrees that Z33 is a third-party beneficiary of the acknowledgments, understandings,
                                            agreements, covenants, representations and warranties made by Grantee contained in this Grant
                                            Agreement. Each of the parties hereto shall be entitled to seek and obtain equitable relief,
                                            without proof of actual damages, including an injunction or injunctions or order for specific
                                            performance to prevent breaches of this Grant Agreement and to enforce specifically the terms
                                            and provisions of this Grant Agreement to cause the Closing to occur if the conditions in
                                            Section 2 of this Grant Agreement have been satisfied or, to the extent permitted by
                                            applicable law, waived by the applicable party entitled to waive any such condition. Each
                                            party hereto further agrees that neither the parties hereto shall be required to obtain,
                                            furnish or post any bond or similar instrument in connection with or as a condition to obtaining
                                            any remedy referred to in this Section 7(j), and each party hereto irrevocably waives
                                            any right it may have to require the obtaining, furnishing or posting of any such bond or
                                            similar instrument.

 

		k)	If any provision of this Grant Agreement shall be invalid, illegal or
                                            unenforceable, the validity, legality or enforceability of the remaining provisions of this
                                            Grant Agreement shall not in any way be affected or impaired thereby and shall continue in
                                            full force and effect.

 

		l)	This Grant Agreement may be executed and delivered in one or more counterparts
                                            (including by facsimile or electronic mail or in .pdf or any other form of electronic delivery
                                            (including any electronic signature complying with U.S. federal ESIGN Act of 2000)) and by
                                            different parties in separate counterparts, with the same effect as if all parties hereto
                                            had signed the same document. All counterparts so executed and delivered shall be construed
                                            together and shall constitute one and the same agreement.

 

		m)	The parties hereto agree that irreparable damage would occur in the
                                            event that any of the provisions of this Grant Agreement were not performed in accordance
                                            with their specific terms or were otherwise breached. It is accordingly agreed that the parties
                                            hereto and Zura shall be entitled to seek an injunction or injunctions to prevent breaches
                                            or threatened breaches of this Grant Agreement and to enforce specifically the terms and
                                            provisions of this Grant Agreement, this being in addition to any other remedy to which such
                                            party is entitled to seek at law, in equity, in contract, in tort or otherwise. The parties
                                            hereto further agree not to assert that a remedy of specific enforcement pursuant to this
                                            Section 7(m) is unenforceable, invalid, contrary to applicable law or inequitable
                                            for any reason and to waive any defenses in any action for specific performance, including
                                            the defense that a remedy at law would be adequate. In addition, the prevailing party in
                                            any action to enforce the provisions of this agreement shall be entitled to fees and expenses
                                            incurred in connection therewith. The parties acknowledge and agree that this Section 7(m) is
                                            an integral part of the transactions contemplated hereby and without that right, the parties
                                            hereto would not have entered into this Grant Agreement.

 

     

     

    

 

		n)	This Grant Agreement shall be governed by, and construed in accordance
                                            with, the laws of the State of Delaware, without regard to the principles of conflicts of
                                            laws that would otherwise require the application of the law of any other jurisdiction.

 

		o)	EACH PARTY HEREBY WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY
                                            OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OR RELATED TO THIS GRANT AGREEMENT
                                            OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF
                                            ANY TYPE BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY OR ANY AFFILIATE OF ANY OTHER SUCH
                                            PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. THE PARTIES AGREE
                                            THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT
                                            LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL
                                            BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER
                                            PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY
                                            OF THIS GRANT AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
                                            AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS GRANT AGREEMENT.

 

		p)	The parties agree that all disputes, legal actions, suits and proceedings
                                            arising out of or relating to this Grant Agreement must be brought exclusively in the state
                                            courts of Delaware or in the federal courts located in the state of Delaware and county of
                                            New Castle (collectively the “Designated Courts”). Each party hereby consents
                                            and submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit
                                            or proceeding with respect to this Grant Agreement may be brought in any other forum. Notwithstanding
                                            the foregoing, a final judgement in any such action may be enforced in other jurisdictions
                                            by suit on the judgment or in any other manner provided by law. Each party hereby irrevocably
                                            waives all claims of immunity from jurisdiction and any objection which such party may now
                                            or hereafter have to the laying of venue of any suit, action or proceeding in any Designated
                                            Court, including any right to object on the basis that any dispute, action, suit or proceeding
                                            brought in the Designated Courts has been brought in an improper or inconvenient forum or
                                            venue. Each of the parties also agrees that delivery of any process, summons, notice or document
                                            to a party hereof in compliance with Section 7(a) of this Grant Agreement shall
                                            be effective service of process for any action, suit or proceeding in a Designated Court
                                            with respect to any matters to which the parties have submitted to jurisdiction as set forth
                                            above.

 

		q)	This Grant Agreement may only be enforced against, and any claim, action,
                                            suit or other legal proceeding based upon, arising out of, or related to this Grant Agreement,
                                            or the negotiation, execution or performance of this Grant Agreement, may only be brought
                                            against the entities that are expressly named as parties hereto and then only with respect
                                            to the specific obligations set forth herein with respect to such party. No past, present
                                            or future director, officer, employee, incorporator, manager, member, partner, shareholder,
                                            affiliate, agent, attorney or other representative of any party hereto or of any affiliate
                                            of any party hereto, or any of their successors or permitted assigns, shall have any liability
                                            for any obligations or liabilities of any party hereto under this Grant Agreement or for
                                            any claim, action, suit or other legal proceeding based on, in respect of or by reason of
                                            the transactions contemplated hereby.

 

     

     

    

 

		r)	Grantee hereby consents to the publication and disclosure in any Form 8-K
                                            or Form 6-K filed by the Company with the Commission, in any filing with the Commission
                                            made in connection with the Business Combination Agreement, the Transaction or the Equity
                                            Grant, including any proxy statement, prospectus or registration statement related thereto
                                            or any other filing with the Commission pursuant to applicable securities laws, of Grantee’s
                                            name and identity and the terms of this Grant Agreement and, if deemed required or appropriate
                                            by the Company, a copy of this Grant Agreement. Notwithstanding the foregoing or anything
                                            contained to the contrary in Section 7(c), the Company may make disclosures to an auditor
                                            or governmental or regulatory authority pursuant to any routine investigation, inspection,
                                            examination or inquiry without providing Grantee with any notification thereof, unless Grantee
                                            is the subject of any such investigation, inspection, examination or inquiry (in which case
                                            Section 7(c) shall govern).

 

		s)	In the event the Company is treated as a “passive foreign investment
                                            company” (a “PFIC”) for

 

U.S. federal income tax purposes as such term is defined
in Section 1297 of the Internal Revenue Code of 1986, as amended (the “Code”), within one hundred fifty (150) days of
the end of the relevant taxable year, the Company shall provide for the particular taxable year in which the Company determines it is
a PFIC and for each year thereafter that it is a PFIC, to the Grantee (i) such information reasonably available to the Company in
order for the Grantee to elect to treat the Company (or any of its corporate subsidiaries) as a “Qualified Electing Fund”
within the meaning of Section 1295 of the Code (a “QEF Election”) or file a “Protective Statement” pursuant
to U.S. Treasury Regulations Section 1.1295-3(c) for U.S. federal income tax purposes, (ii) a completed “PFIC Annual
Information Statement” as described in U.S. Treasury Regulations Section 1.1295-1(g) which shall meet all requirements
and contain all of the information set forth in Treasury Regulations Section 1.1295-1(g) and

 

(iii) any additional information that is reasonably
requested by the Grantee that is reasonably necessary in order for Grantee to prepare its U.S. federal income tax returns or otherwise
comply with any other filings, reporting or similar obligations under the Code.

 

[Signature pages follow.]

 

     

     

    

 

IN
WITNESS WHEREOF, each of the Company and Grantee has executed or caused this Grant Agreement to be executed by its duly authorized
representative as of the date first set forth above.

 

		JATT ACQUISITION CORP
	 	 	 
	 	 	 
	 	By:	/s/ Someit Sidhu
	 	 	Name: Someit Sidhu
	 	 	Title: Chief Executive Officer
	 	 	 
	 	Address for Notices:
	 	PO Box 309, Ugland House,
	 	Grand Cayman, Cayman Islands

 

Signature Page to
Grant Agreement

 

     

     

    

 

IN
WITNESS WHEREOF, each of the Company and Grantee has executed or caused this Grant Agreement to be executed by its duly authorized
representative as of the date first set forth above.

 

		ELI LILLY AND COMPANY
	 	 	 
	 	By:	/s/ Kenneth L. Custer
	 	Name: Kenneth L. Custer
	 	Title: Sr. VP of Business Development

 

Signature Page to
Grant Agreement

 

     

     

    

 

EXHIBIT A

 

Form of Amended and Restated Registration
Rights Agreement

 

     

     

    

 

FORM OF AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of     ,
2022, is made and entered into by and among: (i) Zura Bio Limited (formerly known as JATT Acquisition Corp), a Cayman Islands exempted
company (the “Company”); (ii) JATT Ventures, L.P., a Cayman Islands exempted limited partnership (the
 “Sponsor”); (iii) the persons or entities identified as “New Holders” on the signature pages hereto
(collectively, the “New Holders”); and (iv) the persons or entities identified as “Existing Holders”
on the signature pages hereto (the “Existing Holders,” and together with the Sponsor, the New Holders
and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 6.2 or Section 6.11
of this Agreement, each a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS,
the Company, the Sponsor and the Existing Holders are party to that certain Registration Rights Agreement, dated as of July 13,
2021 (the “Original RRA”);

 

WHEREAS,
pursuant to, and upon the terms and subject to the conditions set forth in, the Business Combination Agreement dated as of June 16,
2022 as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “BCA”),
among the Company, Zura Bio Limited, a limited company incorporated under the laws of England and Wales (“Zurabio”),
JATT Merger Sub, a Cayman Islands exempted company and wholly owned subsidiary of the Company (“JATT Merger Sub”),
JATT Merger Sub 2, a Cayman Islands exempted company and wholly owned subsidiary of the Company (“JATT Merger Sub 2”),
Zura Bio Holdings Ltd, a Cayman Islands exempted company (“Holdco”), the following transactions (collectively,
the “Transaction”) will occur on the Closing Date (as defined below): (i) JATT Merger Sub will merge with
and into Holdco, with Holdco continuing as the surviving company of the merger and a wholly owned subsidiary of the Company; and (ii) immediately
following the transaction described in (i), Holdco will merge with and into JATT Merger Sub 2, with JATT Merger Sub 2 continuing as the
surviving company of the merger;

 

WHEREAS,
pursuant to the BCA, among other things, (i) the Zurabio shareholders exchanged all their Zurabio shares for shares in Holdco, such
that Holdco owned all of the outstanding shares of Zurabio, (ii) the Company issued 16,500,000 Class A ordinary shares to the
Holdco shareholders in exchange for all of the outstanding Holdco shares, and (iii) the issued and outstanding Class B ordinary
shares, par value $0.0001 per share, of the Company, all of which were held by the Sponsor and the Existing Holders, automatically converted
into 3,450,000 ordinary shares on a one-for-one basis (such ordinary shares received upon the conversion, the “Founder Shares”)
(together with the other transactions contemplated by the BCA, the “Business Combination”);

 

WHEREAS,
pursuant to the second amended and restated memorandum and articles of the Company (such amended and restated memorandum and articles,
as the same may be amended, restated, amended and restated, supplemented or otherwise modified form time (the “Company Charter”)),
the Company is authorized to issue the following classes of stock: (i) shares, par value $0.0001 per share, of the Company (the
 “ordinary shares” or the “Ordinary Shares”), and (ii) preference shares, par
value $0.0001 per share of the Company;

 

WHEREAS,
in connection with the Business Combination, the Company conducted a private placement of its ordinary shares (the “PIPE
Investment”) pursuant to the terms of (i) one or more Subscription Agreements and (ii) two Forward Purchase Agreements,
and certain Holders purchased additional ordinary shares pursuant thereto (collectively, the “PIPE Shares”);

 

WHEREAS,
Z33 Bio Inc., an affiliate of Zurabio, entered into a License Agreement (the “Lilly License”) with Eli Lilly
and Company (“Lilly”), pursuant to which Lilly agreed to license certain intellectual property rights to Z33
Bio Inc., and whereas, in connection with the Lilly License, the Company entered into a Grant Agreement with Lilly, pursuant to which
Lilly is entitled to receive 550,000 ordinary shares of the Company upon the closing of the Business Combination.

 

     

     

    

 

WHEREAS,
pursuant to Section 6.8 of the Original RRA, the provisions, covenants and conditions set forth therein may be amended or modified
upon the written consent of the Company and the holders of a majority-in-interest of the “Registrable Securities” (as such
term is defined in the Original RRA) at the time in question; and

 

WHEREAS,
the Company and the Sponsor desire to amend and restate the Original RRA in its entirety as set forth herein and the Company and the
Existing 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:

 

“Additional
Holder” has the meaning given in Section 6.11 hereof.

 

“Additional
Holder Shares” has the meaning given in Section 6.11 hereof.

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, after consultation with counsel to the Company,
in the good faith judgment of the Chief Executive Officer or Chief Financial Officer of the Company or the Board, (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.

 

“Affiliate”
means, with respect to any Person, any other Person who, directly or indirectly, controls, is controlled by, or is under direct or indirect
common control with, such Person, and, in the case of an individual, also includes any member of such individual’s Immediate Family;
provided that the Company and its subsidiaries will not be deemed to be Affiliates of any Holder of Registrable Securities. As used in
this definition, “control” (including, with its correlative meanings, “controlling”, “controlled by”
and “under common control”) shall mean possession, directly or indirectly, of power to direct or cause the direction of the
management and policies of a Person, directly or indirectly, whether through ownership of voting securities or partnership or other ownership
interests by contract or otherwise.

 

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

 

“Block Trade”
means an offering or sale of Registrable Securities by any Holder on a block trade or underwritten basis (whether firm commitment or
otherwise) effected pursuant to a Registration Statement without substantial marketing efforts prior to pricing, including, without limitation,
a same day trade, overnight trade or similar transaction.

 

“Board” shall
mean the board of directors of the Company.

 

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

 

    2

     

    

 

“Business Day” means
any day other than a Saturday, Sunday or any other day on which commercial banks are required or authorized to close in the State of
New York or the Cayman Islands.

 

“Closing”
shall have the meaning given in the BCA. “Closing Date” shall have the meaning given in the BCA.

 

“Commission” shall mean the U.S.
Securities and Exchange Commission.

 

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

 

“Company Charter” shall have the
meaning given in the Recitals hereto. “Demanding Holder” shall have the meaning given in Section 2.1.4
hereof.

 

“Effectiveness Deadline” shall
have the meaning given in subsection 2.1.1.

 

“Exchange Act” shall mean the
U.S. Securities Exchange Act of 1934, as amended from time to time. “Existing Holders” shall have the meaning
given in the Recitals hereto.

 

“Filing Deadline” shall have the
meaning given in Section 2.1.1 hereof.

 

“FINRA” shall mean the Financial
Industry Regulatory Authority, Inc. “Form S-1 Shelf” shall have the meaning given in Section 2.1.1
hereof.

 

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

 

“Founder
Shares” shall have the meaning given in the Recitals hereto. “Holdco” shall have the meaning
given in the Recitals hereto

 

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

 

“Holders”
shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities, and includes
any transferee of the Registrable Securities (so long as they remain Registrable Securities) of a Holder permitted under this Agreement
and the Lock-Up Agreement.

 

“Immediate Family”
shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, sister-in-law and shall include adoptive relationships.

 

“Insider Letter”
means that certain letter agreement, dated as of July 13, 2021, by and among the Company, the Sponsor and certain of the Company’s
current and former officers and directors.

 

“Joinder” shall have the meaning
given in Section 6.11 hereof.

 

“Lock-up Agreement”
means, as applicable: (i) that certain lock-up agreement, dated as of the date hereof, by and among the Company and certain holders
of securities of the Company, entered into in connection with the Business Combination, and (ii) the Lilly Lock-Up Agreement.

 

“Lilly Lock-Up
Agreement” shall mean that certain lock-up agreement dated as of November  , 2022, between the Company and Eli Lilly
and Company.

 

    3

     

    

 

“Lock-up Periods”
shall mean each of the periods beginning on the Closing Date and ending, (i) with respect to the New Holder’s Shares, the
Sponsor’s and the Existing Holders’ Founder Shares, the period ending on the earlier of (x) 6 months after the Closing
Date with respect to one-third of the shares, and (b) 12 months after the Closing Date with respect to one-third of the shares,
and (c) 24 months after the Closing Date with respect to one-third of the shares; provided that such shares may be released prior
to each of the 6-month, 12-month and 24-month periods on the date on which the daily volume weighted average price (“VWAP”)
reported sale price of the ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period, or (y) the earlier date on which the Company
completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s
shareholders having the right to exchange their ordinary shares for cash, securities or other property (the “Founder Shares
Lock-up Period” and New Holders Lock-up Period” ); and (ii) with respect to the Sponsor’s
(or its transferees as permitted by the Lock-Up Agreement) Private Warrant Shares, 30 days from the Closing Date (the “Private
Placement Lock-up Period”).

 

“Lock-up Shares”
shall mean, (i) with respect to the Sponsor, the Existing Holders and any transferees as permitted by the Lock-Up Agreement, the
ordinary shares held by them immediately following the Closing (other than PIPE Shares subscribed in connection with the PIPE Investment,
if any) and any ordinary shares issued or issuable upon exercise of the Private Placement Warrants; and (ii) with respect to the
New Holders and their respective transferees as permitted by the applicable Lock-Up Agreement, the ordinary shares held by them immediately
following the Closing.

 

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

 

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

 

“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.

 

“New Holders” shall have the meaning
given in the Preamble hereto. “Original RRA” shall have the meaning given in the Recitals hereto. “ordinary
shares” shall have the meaning given in the Recitals hereto.

 

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

 

“PIPE Investment” shall have the
meaning given in the Recitals hereto. “PIPE Shares” shall have the meaning given in the Recitals hereto.

 

“Private Placement
Warrants” shall mean the 5,910,000 Private Placement Warrants issued by the Company that were privately purchased simultaneously
with the consummation of the Company’s initial public offering.

 

“Private Warrant
Shares” shall mean the ordinary shares issued or issuable upon exercise of the “Private Placement Warrants.

 

“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.

 

    4

     

    

 

“Registrable
Security” shall mean (a) the Founder Shares and the ordinary shares issued or issuable upon the conversion of any
Founder Shares, (b) the Private Placement Warrants and the ordinary shares issued or issuable upon the exercise of any Private Placement
Warrants, (c) any issued and outstanding ordinary shares or any other equity security (including the ordinary shares issued or issuable
upon the exercise of any other equity security) of the Company held by a Holder as of the date of this Agreement, (d) any equity
securities (including the ordinary shares issued or issuable upon the exercise of any such equity security) of the Company issuable upon
conversion of any Working Capital Warrants in an amount up to $1,500,000 made to the Company by a Holder, (e) any PIPE Shares held
by a Holder, (f) any other equity securities (including ordinary shares) of the Company held by a New Holder at the Closing Date
and (g) any other equity security of the Company or its subsidiaries issued or issuable with respect to any such ordinary shares
referenced in (a), (b), (c), (d), (e) or (f) above by way of a share capitalization or share split or in connection with a
combination of shares, recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular
Registrable Security, such securities shall cease to be Registrable Securities when: (i) 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; (ii) such securities shall have
been otherwise transferred, new certificates for such securities not bearing (or book entry positions not subject to) a legend restricting
further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (iii) such securities shall have ceased to be outstanding; (iv) following the third anniversary of
the Agreement, such securities may be sold without registration pursuant to Rule 144 (but without the requirement to comply with
any limitations) and (v) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution
or other public securities transaction.

 

“Registration”
shall mean a registration 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 documented, out-of-pocket 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 FINRA) and 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)            fees
and disbursements of underwriters customarily paid by issuers of securities in a secondary offering, but excluding underwriting discounts
and commissions and transfer taxes, if any, with respect to Registrable Securities sold by Holders;

 

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

 

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

 

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

 

(G)            reasonable
fees and expenses of one legal counsel selected by the majority-in-interest of the Demanding Holders in an Underwritten Offering.

 

“Registration
Statement” shall mean any registration statement filed by the Company with the Commission that covers the 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 hereof.

 

“Retained Company Shares” shall
have the meaning given in the BCA.

 

    5

     

    

 

“Rule 144” shall
mean Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor rule thereto that
may be promulgated by the Commission.

 

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

 

“Shelf” shall mean the Form S-1
Shelf, the Form S-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, as amended from time to time, or any similar successor rule thereto that
may be promulgated by the Commission.

 

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

 

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

 

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

 

“Transfer”
shall mean the (i) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation, 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, (ii) 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 (iii) public announcement of any intention to effect any transaction specified in clause (i) or (ii).

 

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

 

“Underwritten Lock-up Period”
shall have the meaning given in Section 2.3 hereof.

 

“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, including a Block Trade.

 

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

 

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

 

“Working Capital Warrants”
shall mean any warrants issued in payment for working capital loans from the Sponsor to the Company.

 

“Yearly Limit” shall have the
meaning given in Section 2.1.4 hereof.

 

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

 

    6

     

    

 

ARTICLE II

REGISTRATIONS AND OFFERINGS

 

		2.1	Shelf
                                            Registration.

 

2.1.1            Filing.
The Company shall, subject to Section 3.4 hereof, submit or file within 30 days of the Closing Date (the “Filing
Deadline”), 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 S-1 (the “Form S-1 Shelf”), or, if the
Company is eligible to use a Registration Statement on Form S-3, a Shelf Registration on Form S-3 (the “Form S-3
Shelf”), in each case, covering the resale of all the Registrable Securities (determined as of two Business Days prior
to such submission or filing) on a delayed or continuous basis and shall use its commercially reasonable efforts to have the Shelf declared
effective after the filing thereof, but no later than the earlier of (i) the 60th calendar day (or 90th calendar day if the Commission
notifies the Company that it will “review” the Registration Statement) following the earlier of (A) the filing of the
Registration Statement and (B) the Filing Deadline, and (ii) the 10th Business Day after the date the Company is notified (orally
or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or will not
be subject to further review (such deadline the “Effectiveness Deadline”), provided, that if the Filing
Deadline or Effectiveness Deadline falls on Saturday, Sunday or other day that the Commission is closed for business, the Filing Deadline
or Effectiveness Deadline, as the case may be, shall be extended to the next Business Day on which the Commission is open for business.
Such Shelf shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods
legally available to, and requested by, any Holder named therein. Subject to Sections 2.1.2 and 3.4 hereof, the Company
shall maintain a Shelf in accordance with the terms hereof, and shall prepare and file with the Commission such amendments, including
post-effective amendments, and supplements as may be necessary to keep a Shelf continuously effective, available for use by the Holders
named therein to sell their Registrable Securities included therein, 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 S-1 Shelf, the Company shall
use its commercially reasonable efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration) to a Form S-3
Shelf as soon as reasonably practicable after the Company is eligible to use Form S-3.

 

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
hereof, use its commercially reasonable efforts to, as promptly as is reasonably practicable, cause such Shelf to again become
effective under the Securities Act (including using its commercially reasonable efforts to obtain 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 under such Shelf (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. 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 by the
Holders named therein to sell their Registrable Securities included therein, 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 S-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. Subject to Section 3.4 hereof, in the event that any Holder or Holders, collectively, hold Registrable
Securities that are not registered for resale on a delayed or continuous basis, the Company, upon request of any such Holder or Holders,
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, any then-available 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 (i) the Company shall only be required to cause such Registrable
Securities to be covered if the total offering price thereof is reasonably expected to exceed, in the aggregate, $10 million and (ii) the
Company shall only be required to register Registrable Securities pursuant to this Section 2.1.3 twice per calendar year.

 

    7

     

    

 

2.1.4            Requests
for Underwritten Shelf Takedowns. Following the expiration of the Founder Shares Lock-up Period, the New Holders Lock-up Period or
the Private Placement Lock-up Period, as applicable, at any time and from time to time when an effective Shelf is on file with the Commission,
any New Holder, Existing Holder, or the Sponsor, or any combination thereof (any of the New Holders, Existing Holders, or the Sponsor
making such demand, 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 a 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 (a) Registrable Securities proposed to be sold by the Demanding Holder, either individually or together
with other Demanding Holders, with a total offering price reasonably expected to exceed, in the aggregate, $10million (the “Minimum
Takedown Threshold”) or (b) if the Demanding Holders hold Registrable Securities with a total offering price reasonably
expected to be less than the Minimum Takedown Threshold, all of the Registrable Securities held by a Demanding Holder. 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. The Company 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 prior approval by the
Demanding Holder(s) (which shall not be unreasonably withheld, conditioned or delayed). The New Holders, on the one hand, and the
Existing Holders and the Sponsor, collectively, on the other hand, may each demand Underwritten Shelf Takedowns pursuant to this Section 2.1.4
not more than two times in any twelve (12) month period (the “Yearly Limit”). Notwithstanding anything
to the contrary in this Agreement, the Company may effect any Underwritten Offering pursuant to any then-effective Registration Statement,
including a Form S-3, which is then available for such offering.

 

2.1.5            Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advise(s) the
Company, the Demanding Holder(s) 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 Holder(s) 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 other 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 who desire to sell, 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 the 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 without
exceeding the Maximum number of Securities).

 

2.1.6            Underwritten
Shelf Takedown 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 Underwritten
Shelf Takedown; provided that any other Demanding Holder(s) 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 Demanding Holder(s). If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an
Underwritten Shelf Takedown by the withdrawing Demanding Holder for purposes of Section 2.1.4 hereof and shall count toward
the Yearly Limit, unless either (i) the Demanding Holder(s) making the withdrawal has not previously withdrawn any Underwritten
Shelf Takedown or (ii) the Demanding Holder(s) making the withdrawal reimburses the Company for all Registration Expenses with
respect to such Underwritten Shelf Takedown (or, if there is more than one Demanding Holder, a pro rata portion of such Registration
Expenses based on the respective number of Registrable Securities that each Demanding Holder has requested be included in such Underwritten
Shelf Takedown); provided that, if any other Demanding Holder(s) 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 Demanding Holders for purposes of Section 2.1.4 hereof and shall count toward the Yearly Limit. Following
the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Demanding Holders and Requesting
Holders. 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, other than if a Demanding Holder elects
to pay such Registration Expenses pursuant to clause (ii) of the second sentence of this Section 2.1.6.

 

    8

     

    

 

		2.2	Piggyback
                                            Registration.

 

2.2.1            Piggyback
Rights. 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) for an exchange offer or offering of securities solely to the Company’s
existing shareholders, (iii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction
subject to Rule 145 under the Securities Act or any successor rule thereto), (iv) for an offering of debt that is convertible
into equity securities of the Company or (v) for a dividend reinvestment plan, 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 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 days after receipt of such written notice (such Registration, a “Piggyback Registration”). Subject to
Section 2.2.2 hereof, 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 by the
Company. For the avoidance of doubt, the notice periods set forth in this Section 2.2.1 shall not apply to an Underwritten
Shelf Takedown conducted in accordance with Section 2.1.4 or Block Trades conducted in accordance with Section 2.4.

 

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, advise(s) 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 or the Demanding Holders desire to sell,
taken together with (i) the number of 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 2.2.1
and (iii) the number of 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 persons or entities other than the Holders
of Registrable Securities hereunder, 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 number of 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 hereof, 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 number of 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 persons or entities other than the Holders of Registrable
Securities hereunder, which can be sold without exceeding the Maximum Number of Securities;

 

    9

     

    

 

(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 number of 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 hereof, 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 number of 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 number of 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 such persons or entities other than the Holders of Registrable
Securities hereunder, 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 in the priority set forth in Section 2.1.5
hereof.

 

2.2.3            Piggyback
Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw from an Underwritten
Shelf Takedown, and related obligations, shall be governed by Section 2.1.6 hereof) 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 without any liability to the applicable Holder. The Company (whether on its own good
faith determination or as the result of a request for withdrawal by persons or entities pursuant to separate written contractual obligations)
may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration 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
hereof), 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
hereof, 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 and shall not count toward the Yearly Limit.

 

2.3            Market
Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade) or any Company-initiated
Registration for the account of the Company (subject to the Company’s compliance with Section 2.2 hereof), each Holder
that is an executive officer, director or Holder in excess of 5% of the then-outstanding ordinary shares (calculated, in the case of
each New Holder, as if all of its Class B ordinary shares and Retained Company Shares are exchanged for ordinary shares) 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 (or such shorter time agreed
to by the managing Underwriters) beginning on the date of pricing of such offering (the “Underwritten Lock-up Period”),
except as expressly permitted by such lock-up agreement or in the event the Underwriters managing the offering otherwise consent in writing.
Each Holder in excess of 5% of the then-outstanding ordinary shares 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 the Company’s directors and executive officers or
the other shareholders of the Company). The Company will not be obligated to undertake an Underwritten Shelf Takedown during any Underwritten
Lock-up Period binding on the Holders, nor will the Company be obligated to include in any Piggyback Registration any Registrable Securities
that are then subject to a “lock-up” agreement.

 

    10

     

    

 

		2.4	Block
                                            Trades.

 

2.4.1            Notwithstanding
any other provisions of this Agreement, but subject to Section 3.4, if a Demanding Holder desires to effect a Block Trade,
with a total offering price reasonably expected to exceed, in the aggregate, either (x) the Minimum Takedown Threshold or (y) all
remaining Registrable Securities held by such Demanding Holder, then notwithstanding the time periods provided for in Section 2.2.1,
such Demanding Holder only needs to notify the Company of the Block Trade at least three (3) business days prior to the day such
offering is to commence and the Company shall as promptly as is reasonably practicable, use its commercially reasonable efforts to facilitate
such Block Trade; provided that the Demanding Holder wishing to engage in the Block Trade shall use its commercially reasonable
efforts to work with the Company and any Underwriters or placement agents or sales agents prior to making such request in order to facilitate
preparation of the registration statement, prospectus and other offering documentation related to such 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,
the Demanding Holder that initiated such Block Trade shall have the right to submit a Withdrawal Notice to the Company and the Underwriter
or Underwriters or placement agents or sales agents (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 in the first instance of any such withdrawal; provided, that the Holder
shall be responsible for the Registration Expenses incurred in connection with a Block Trade prior to any subsequent 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 wishing to engage in a Block Trade shall have the right to select the Underwriters, placement agents or sales agents
(if any) for such Block Trade (which shall consist of one or more reputable nationally recognized investment banks), provided,
that such selection shall be subject to the consent of the Company, which consent shall not be unreasonably withheld, conditioned or
delayed.

 

2.4.5            A
Holder in the aggregate may demand no more than two Block Trades pursuant to this Section 2.4 in any 12-month period. For
the avoidance of doubt, any Block Trade effected pursuant to this Section

 

2.4
shall not be counted as a demand for an Underwritten Shelf Takedown pursuant to Section 2.1.4 hereof.

 

2.5            Restrictions
on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith
estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company
initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a request for an
Underwritten Shelf Takedown pursuant to Section 2.1.4 hereof and it continues to actively employ, in good faith, all reasonable
best efforts to cause the applicable Registration Statement to become effective; (B) the Holders have requested an Underwritten
Registration and the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in
the good faith judgment of the Board such Underwritten Offering would be seriously detrimental to the Company and the Board concludes
as a result that it is essential to defer the undertaking of such Underwritten Offering at such time, then in each case, as applicable,
the Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating the applicable reason(s) set
forth in Clauses (A) through (C) above underlying the Company’s decision to defer the undertaking of such Underwritten
Offering. In such event, the Company shall have the right to defer such offering for a period of not more than sixty (60) days; provided,
however, that the Company shall not defer its obligations in this manner more than once in any twelve (12) month period.

 

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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 reasonably practicable, a Registration Statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

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 5% 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; provided that the Company will not have any obligation to provide any document pursuant to this Section 3.1.3
that is available on the Commission’s EDGAR system;

 

3.1.4            prior
to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request (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 or securities exchanges, including the New York Stock Exchange, as may be necessary
by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to
enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable
Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business
in any jurisdiction where it would not otherwise be required to qualify 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 or automated quotation system on which similar securities
issued by the Company are then listed;

 

3.1.6            provide
a transfer agent 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 commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal
if such stop order should be issued;

 

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3.1.8            at
least three days (or in the case of a Block Trade, at least one day) 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; provided
that the Company will not have any obligation to provide any document pursuant to this Section 3.1.8 that is available on
the Commission’s EDGAR system;

 

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            in
the event of an Underwritten Offering, a Block Trade or other coordinated offering that is registered pursuant to a Registration Statement,
permit a representative of the Holders (such representative to be selected by a majority-in-interest of the participating Holders), the
Underwriters or other financial institutions facilitating such Underwritten Offering, Block Trade or other coordinated offering that
is registered pursuant to a Registration Statement, if any, and any attorney or accountant retained by such Holders or Underwriter to
participate, at each such person’s own expense (except as otherwise provided in this Agreement), 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 enter into a confidentiality agreement, in form and substance reasonably satisfactory to the Company, prior to the release
or disclosure of any such information;

 

3.1.11            obtain
a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering, a Block Trade 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 “cold comfort” letters as the managing Underwriter or other similar
type of sales agent, placement agent or Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of
the participating Holders;

 

3.1.12            in
the event of an Underwritten Offering, a Block Trade or other coordinated offering that is registered pursuant to a Registration Statement,
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance
letter, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the placement agent
or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which
such opinion is being given as the placement agent, sales agent, or Underwriter may reasonably request and as are customarily included
in such opinions and negative assurance letters;

 

3.1.13            in
the event of any Underwritten Offering, Block Trade 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 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 thereto);

 

3.1.15            with
respect to an Underwritten Offering pursuant to Section 2.1.4 hereof, use its commercially 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 participating
in such Registration, in connection with such Registration. 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.

 

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3.2            Registration
Expenses. Except as set forth in Section 2.1.6, 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, in each case pro rata based on the number of Registrable Securities that such Holders have sold in such Registration.

 

3.3            Requirements
for Participation in Underwritten Offerings. Notwithstanding anything in this Agreement to the contrary, if any Holder does not timely
provide the Company with its requested Holder Information (as defined below), 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 in the case of an Underwritten Offering initiated by the Company, and approved by the Demanding
Holders in the case of an Underwritten Offering initiated by the Demanding Holders and (ii) timely 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 3.3 shall not affect the registration of the other Registrable Securities to be included in such Registration.
The Company will use its commercially reasonable efforts to ensure that the underwriting agreement related to such Registration shall
provide that any liability of a Holder to any Underwriter or other person pursuant to such underwriting agreement shall be limited to
liability (i) arising from a breach of such Holder’s representations and warranties thereto, (ii) will be several, and
not joint and several, and (iii) will be limited to the net proceeds (after deducting discounts and commission, but not expenses)
received by such Holder from the sale of such Holder’s Registrable Securities pursuant to such underwriting agreement.

 

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

 

3.4.1            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 he, she or 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 he, she or it is advised in writing by the Company that the use of the Prospectus
may be resumed.

 

3.4.2            Subject
to Section 3.4.4, if the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration
at any time would (i) require the Company to make an Adverse Disclosure, (ii) require the inclusion in such Registration Statement
of financial statements that are unavailable to the Company for reasons beyond the Company’s control or (iii) in the good
faith judgment of the majority of the Board, be seriously detrimental 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, but in no event more than ninety (90) days in any 12-month period, determined in good faith by the Company
to be necessary for such purpose. In the event the Company exercises its rights under this Section 3.4.2, 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 until such Holder receives written notice from the Company that such
sales or offers of Registrable Securities may be resumed, and in each case maintain the confidentiality of such notice and its contents.

 

3.4.3            Subject
to Section 3.4.4, if (i) during the period starting with the date 60 days prior to the Company’s good faith estimate
of the date of the filing of, and ending on a date 120 days after the effective date of, a Company-initiated Registration, and provided
that the Company continues to actively employ, in good faith, all reasonable best efforts to maintain the effectiveness of the applicable
Shelf, or (ii) pursuant to Section 2.1.4 hereof, 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, then, in each case, 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
hereof.

 

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3.4.4            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, not more than
two (2) times or for more than sixty (60) consecutive calendar days, or for more than one hundred and twenty (120) total calendar
days, in each case during any 12-month period.

 

3.5            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 use reasonable best efforts 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 Section 13(a) or
15(d) of the Exchange Act. The Company further covenants that it shall take such further action as any Holder may reasonably request,
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 promulgated thereafter by the Commission), including providing any customary legal opinions. Upon the request of
any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied
with such requirements.

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

		4.1	Indemnification.

 

4.1.1            The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each
person or entity who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
and reasonable out-of-pocket expenses (including, without limitation, reasonable outside attorneys’ fees and inclusive of all reasonable
attorneys’ fees arising out of the enforcement of each such persons’ rights under this Section 4.1) arising out
of or resulting from any any untrue or alleged untrue statement of material fact contained in or incorporated by reference 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 or on behalf of such Holder expressly
for use therein. The Company shall indemnify the Underwriters, their officers and 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 the indemnification of the
Holder.

 

4.1.2            In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish (or
cause to be furnished) to the Company in writing such information and affidavits 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 the Company, its directors, officers, employees, advisors and agents, representatives and each person or entity
who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and reasonable out-of-pocket
expenses (including, without limitation, reasonable outside attorneys’ fees and inclusive of all reasonable attorney’s fees
arising out of the enforcement of each such persons’ rights under this Section 4.1) caused by any untrue or alleged
untrue statement of material fact contained in or incorporated by reference 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 statement is contained in
(or not contained in, in the case of an omission) any information or affidavit so furnished in writing to the Company by or on behalf
of 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 or entity 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
or entity’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 or there may be reasonable defenses available to the indemnified party that are different
from or additional to those available to the indemnifying party, 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, not to be unreasonably
withheld or delayed, 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 includes
a statement or admission of fault and culpability on the part of such indemnified party 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, employee, advisor, agent, representative, shareholder, member or controlling
person or entity 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 to the extent permitted by law 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 not made by, in the case of an omission), or relates to information supplied
by (or not supplied by in the case of an omission), 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 hereof, 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 or entity 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 or entity who was not guilty of such fraudulent misrepresentation.

 

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ARTICLE V

LOCK-UP

 

5.1            Lock-up.
Pursuant to the applicable Lock-Up Agreement, the Sponsor, the Existing Holders and the New Holders agree that they shall not Transfer
any Lock-up Shares until the end of the Founder Shares Lock-up Period, the Private Placement Lock-up Period, or the New Holders Lock-up
Period, as applicable, except as permitted by and in accordance with the applicable Lock-Up Agreement.

 

ARTICLE VI

MISCELLANEOUS

 

6.1            Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery or (iii) transmission by hand delivery, electronic mail or facsimile. Each
notice or communication that is mailed, delivered or transmitted in the manner described above shall be deemed sufficiently given, served,
sent and received, in the case of mailed notices, on the third Business Day following the date on which it is mailed and, in the case
of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered to the addressee
(with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation.
Any notice or communication under this Agreement must be addressed, if to the Company, to Zura Bio Limited, 3rd Floor, 1 Ashley
Road, Altrincham, WA14 2DT, United Kingdom, Attention: Chief Executive Officer and, if to any Holder, at such Holder’s address
or contact information as set forth in the Company’s books and records. Any party may change its address for notice at any time
and from time to time by written notice to the other parties hereto, and such change of address shall become effective 30 days after
delivery of such notice as provided in this Section 6.1.

 

		6.2	Assignment;
                                            No Third-Party Beneficiaries.

 

6.2.1            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.

 

6.2.2            This
Agreement and the rights, duties and obligations of the Holders hereunder may not be assigned or delegated by the Holders in whole or
in part, provided, however, that subject to Section 6.2.5 hereof, a Holder may assign the rights and obligations of
such Holder hereunder relating to particular Registrable Securities in connection with the transfer of such Registrable Securities to
a transferee in accordance with the Lock-Up Agreement but only if such transferee agrees to become bound by the restrictions set forth
in this Agreement.

 

6.2.3            This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and
the permitted assigns of the Holders, which shall include transferees permitted by the Lock-Up Agreement.

 

6.2.4            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 this Section 6.2.

 

6.2.5            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 (a) written notice of such assignment as provided in Section 6.1 hereof
and (b) 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). Any transfer or assignment
made other than as provided in this Section 6.2 shall be null and void.

 

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

 

6.4            Adjustments.
If there are any changes in the Ordinary Shares as a result of share split, share dividend, combination or reclassification, or through
merger, consolidation, recapitalization or other similar event, appropriate adjustment shall be made in the provisions of this Agreement,
as may be required, so that the rights, privileges, duties and obligations under this Agreement shall continue with respect to the Ordinary
Shares as so changed.

 

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6.5            Governing
Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW
YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED
UPON THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OR THE
COURTS OF THE STATE OF NEW YORK, IN EACH CASE, LOCATED IN THE CITY AND COUNTY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO
THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING.

 

6.6            WAIVER
OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY, UNCONDITIONALLY AND VOLUNTARILY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

6.7            Amendments
and Modifications. Upon the written consent of (i) the Company and (ii) the Holders of a majority-in-interest of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be
waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that any amendment hereto
or waiver hereof that adversely affects one Holder, solely in his, her or its capacity as a holder of the shares of capital stock of
the Company, in a manner that is materially different from the other Holders (in such capacity), shall require the consent of the Holder
so affected. 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 by such party.

 

6.8            Other
Registration Rights. Other than (i) the subscribers in the PIPE Investment who have registration rights with respect to the
ordinary shares purchased in the PIPE Investment pursuant to their respective Subscription Agreements, and (ii) as provided in the
Warrant Agreement, dated as of July 16, 2021, between the Company and Continental Stock Transfer & Trust Company, the Company
represents and warrants that no person or entity, other than a Holder of Registrable Securities, has any right to require the Company
to register any securities of the Company for sale or to include such securities of the Company in any Registration Statement filed by
the Company for the sale of securities for its own account or for the account of any other person or entity. Further, the Company represents
and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions, and
in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

6.9            Term.
This Agreement shall terminate on the earlier of (a) the fifth anniversary of the date of this Agreement or (b) with respect
to any Holder on the date that such Holder no longer holds any Registrable Securities. The provisions of Article IV hereof
shall survive any termination.

 

6.10            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.

 

6.11            Additional
Holders; Joinder. In addition to persons or entities who may become Holders pursuant to Section 6.2 hereof, subject to
the prior written consent of the Sponsor, each Existing Holder, and each New Holder (in each case, so long as such Holder and its Affiliates
hold, in the aggregate, at least 5% of the outstanding ordinary shares of the Company (calculated, in the case of each New Holder as
if all of its Class C ordinary shares and Retained Company Shares are exchanged for ordinary shares)), the Company may make any
person or entity who acquires ordinary shares or rights to acquire ordinary shares after the date hereof a party to this Agreement (each
such person or entity, an “Additional Holder”) by obtaining an executed joinder to this Agreement from such
Additional Holder in the form of Exhibit A attached hereto (a “Joinder”). Such Joinder shall specify
the rights and obligations of the applicable Additional Holder under this Agreement. Upon the execution and delivery and subject to the
terms of a Joinder by such Additional Holder, the ordinary shares of the Company then owned, or underlying any rights then owned, by
such Additional Holder (the “Additional Holder Shares”) shall be Registrable Securities to the extent provided
herein and therein, and such Additional Holder shall be a Holder under this Agreement with respect to such Additional Holder Shares.

 

    18

     

    

 

6.12            Severability.
It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent permissible under
the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of
this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such
provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.
Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in
such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other jurisdiction.

 

6.13            Entire
Agreement; Restatement. This Agreement constitutes the full and entire agreement and understanding between the parties with respect
to the subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter. Upon the Closing,
the Original RRA shall no longer be of any force or effect.

 

[Signature Pages Follow]

 

    19

     

    

 

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

 

	 	COMPANY:
	 	 	 
	 	ZURA BIO LIMITED
	 	a Cayman Islands exempted company
	 	 
	 	By:	
	 	Name:	 
	 	Title:	Chief Executive Officer
	 	 

SPONSOR:

	 	 
	 	JATT VENTURES, L.P.
	 	a Cayman Islands exempted limited partnership

     

    By: JATT VENTURES LTD., General Partners

	 	 
	 	By:	
	 	Name:	Someit Sidhu
	 	Title:	Director
	 	 

    EXISTING HOLDERS:

	 	 
	 	VERENDER S. BADIAL, in their
    individual capacity
	 	 
	 	By:	
	 	Name:	Verender S. Badial
	 	 	 
	 	TAUHID ALI, in their individual
    capacity
	 	 
	 	By:	
	 	Name:	Tauhid Ali
	 	 	 
	 	JAVIER COTE-SIERRA, in their
    individual capacity
	 	 
	 	By:	
	 	Name:	Javiaer Cote-Sierra

 

	 	ARNOUT PLOOS VAN AMSTEL,
    in their individual capacity
	 	 
	 	By: 	
	 	Name:	Arnout Ploos van Amstel
	 	 	 
	 	GRAEME SLOAN, in their individual
    capacity
	 	 
	 	By: 	
	 	Name:	Graeme Sloan

 

[Signature Page to
Amended and Restated Registration Rights Agreement]

 

     

     

    

 

	 	NEW HOLDERS:
	 	 
	 	OLIVER LEVY, in their individual
    capacity
	 	 

    By:
	
	 	Name:	Oliver Levy
	 	 	 
	 	DAVID BRADY, in their individual
    capacity
	 	 

    By:
	                                                
	 	Name:	David Brady
	 	 	 
	 	PFIZER, INC.
	 	 

    By:
	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	HANA IMMUNOTHERAPEUTICS LLC
	 	 

    By:
	 
	 	Name:	 
	 	Title:	 

 

	 	MARLYN MATHEW, in their individual
    capacity
	 	 

    By:
	
	 	Name:	Marlyn Mathew
	 	 	 
	 	SANDEEP KULKARNI, in their
    individual capacity
	 	 

    By:
	
	 	Name:	Sandeep Kulkarni

 

	 	ELI LILLY AND COMPANY
	 	 

    By:
	                   

	 	Name:	 
	 	Title:	 

 

[Signature Page to
Amended and Restated Registration Rights Agreement]

 

     

     

    

 

Exhibit A

 

AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT JOINDER

 

The undersigned is executing
and delivering this joinder (this “Joinder”) pursuant to the Amended and Restated Registration Rights Agreement,
dated as of     , 2022 (as the same may hereafter be amended, the “Registration Rights Agreement”),
among Zura Bio Limited (formerly known as JATT Acquisition Corp), a Cayman Islands exempted company (the “Company”),
and the other persons or entities named as parties therein. Capitalized terms used but not otherwise defined herein shall have the meanings
provided in the Registration Rights Agreement.

 

By executing and delivering
this Joinder to the Company, and upon acceptance hereof by the Company upon the execution of a counterpart hereof, the undersigned hereby
agrees to become a party to, to be bound by and to comply with the Registration Rights Agreement as a Holder of Registrable Securities
in the same manner as if the undersigned were an original signatory to the Registration Rights Agreement, and the undersigned’s
ordinary shares shall be included as Registrable Securities under the Registration Rights Agreement to the extent provided therein.

 

Accordingly, the undersigned has executed and delivered
this Joinder as of the                 day
of                             ,
20      .

 

	 	Signature
    of Shareholder
	 	 
	 	Print Name of Shareholder
	 	Its:
	 	Address: 	 
	 	 
	 	 

 

[Exhibit A to Amended
and Restated Registration Rights Agreement]

 

     

     

    

 

Agreed and Accepted as of

 

                          ,
20      

 

	Zura Bio Limited	 
	By:	 	 
	Name:	 
	Title:	 

 

[Exhibit A to Amended
and Restated Registration Rights Agreement]

 

     

     

    

 

EXHIBIT B

 

Lock-up Agreement

 

     

     

    

 

LOCK-UP AGREEMENT

 

THIS LOCK-UP AGREEMENT (this
 “Agreement”) is dated as of December  , 2022 by and between the undersigned (the “Holder”)
and JATT Acquisition Corp, a Cayman Islands exempted company (“SPAC”).

 

A.            SPAC,
JATT Merger Sub, a Cayman Islands exempted company and wholly- owned subsidiary of SPAC, JATT Merger Sub 2, a Cayman Islands exempted
company and wholly-owned subsidiary of SPAC, Zura Bio Limited, a limited company incorporated under the laws of England and Wales (the
 “Company”) and Zura Bio Holdings Ltd, a Cayman Islands exempted company (“Holdco”), entered into
a Business Combination Agreement dated as of June 16, 2022 (the “Business Combination Agreement”). Capitalized
terms used but not defined in this Agreement shall have the meanings ascribed to them in the Business Combination Agreement.

 

B.            Pursuant
to the Business Combination Agreement, SPAC will indirectly own 100% of the issued and outstanding stock of the Company.

 

		C.	Pursuant
                                            to that certain Grant Agreement dated as of December  , 2022, the

 

Holder is entitled to receive 550,000 ordinary shares of the SPAC
upon the closing of the transactions contemplated by the Business Combination Agreement.

 

NOW, THEREFORE, for and in
consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

		1.	Lock-Up.

 

(a)            During
the Lock-up Period (as defined below), the Holder agrees that it, he or she will not offer, sell, contract to sell, pledge or otherwise
dispose of, directly or indirectly, any of the applicable Lock-up Shares (as defined below), enter into a transaction that would have
the same effect, or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences
of ownership of the Lock-up Shares or otherwise, publicly disclose the intention to make any offer, sale, pledge or disposition, or to
enter into any transaction, swap, hedge or other arrangement, or engage in any Short Sales (as defined below) with respect to the Lock-up
Shares.

 

(b)            For
purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule 200
promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all
types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements (including on
a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

 

		(c)	The
                                            Lock-up Shares shall be subject to the restrictions set forth herein follows:

 

     

     

    

 

(i)            One-third
of the Lock-up Shares shall be restricted until the First Lock-up Date, one-third of the Lock-up Shares shall be restricted until the
Second Lock-up Date, and one-third of the Lock-up Shares shall be restricted until the Third Lock-up Date; provided, that each
portion of the Lock-up Shares will be freely tradable on the earlier of the date on which the closing price of the SPAC Shares equals
or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any
20 trading days within any 30-trading day period on a VWAP (as defined below) basis during the relevant Lock- up Period, or on the date
on which SPAC consummates a liquidation, merger, capital stock exchange, reorganization, or other similar transaction that results in
all of SPAC’s stockholders having the right to exchange their SPAC Shares for cash, securities or other property. For purposes
of this Agreement, “VWAP” means, for any date, the daily volume weighted average price of the SPAC Shares for such
date (or the nearest preceding date) on the trading market on which the SPAC Shares are then listed or quoted as reported by Bloomberg
L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:00 p.m. (New York City time)).

 

(ii)            The
term “First Lock-up Date” means the date that is six (6) months after the Closing Date (as defined in the Business
Combination Agreement). The term “Second Lock-up Date” means the date that is twelve months (12) months after the
Closing Date. The term “Third Lock-up Date” means the date that is twenty-four (24) months after the Closing Date. The term
 “Lock-up Period” means the period ending on the First Lock-up Date, Second Lock-up Date, or Third Lock-up Date, as
applicable.

 

(iii)            For
the avoidance of any doubt, (i) the Holder shall retain all of its rights as a stockholder of SPAC during the Lock-Up Period, including
the right to vote, and to receive any dividends and distributions in respect of, any Lock-up Shares, and (ii) the restrictions contained
in this Section 1 shall not apply to any other SPAC Shares acquired by any Holder in any public or private capital raising
transactions of SPAC or otherwise with respect to any SPAC Common Stock (or other securities of SPAC) other than the Lock-up Shares.

 

2.            Beneficial
Ownership. The Holder hereby represents and warrants that it does not beneficially own, directly or through its nominees (as determined
in accordance with Section 13(d) of the Exchange Act, and the rules and regulations promulgated thereunder), any SPAC
Shares, or any economic interest in or derivative of such shares, other than those SPAC Shares to be issued pursuant to the Grant Agreement.
For purposes of this Agreement, any SPAC Shares to be received by the Holder pursuant to the Grant Agreement which were not purchased
in the open market, are collectively referred to as the “Lock-up Shares,” provided, however, that such
Lock- up Shares shall not include SPAC Shares acquired by the Holder in open market transactions during the Lock-up Period.

 

    2

     

    

 

Notwithstanding the foregoing,
and subject to the conditions below, the undersigned may transfer Lock-Up Shares in connection with (a) transfers or distributions
to the Holder’s officers or directors or any current or future direct or indirect affiliates (within the meaning of Rule 405
under the Securities Act of 1933, as amended), or to any equityholder (including any shareholder, member or partner) of the Holder, or
to the estates of any of the foregoing; (b) transfers by bona fide gift to a member of the Holder’s immediate family or to
a trust or estate planning vehicle, the beneficiary of which is the Holder or a member of the Holder’s immediate family; (c) by
virtue of the laws of descent and distribution upon death of the Holder; (d) pursuant to a qualified domestic relations order, (e) transfers
to the SPAC’s officers, directors or their affiliates, (f) pledges of Lock- up Shares as security or collateral in connection
with a borrowing or the incurrence of any indebtedness by the Holder, (g) transfers pursuant to a bona fide third-party tender offer,
merger, stock sale, recapitalization, consolidation or other transaction involving a change of control of SPAC; provided, however,
that in the event that such tender offer, merger, recapitalization, consolidation or other such transaction is not completed, the Lock-Up
Shares subject to this Agreement shall remain subject to this Agreement, (h) the establishment of a trading plan pursuant to Rule 10b5-1
promulgated under the Exchange Act, provided that the Holder shall not effect or cause to be effected, any public filing, report or other
public announcement regarding the establishment of the trading plan except as required by applicable law; provided further, however,
that such plan does not provide for the transfer of Lock-up Shares during the Lock-Up Period, (i) transfers to satisfy tax withholding
obligations in connection with the exercise of options to purchase SPAC Shares or the vesting of stock-based awards; (j) transfers
in payment on a “net exercise” or “cashless” basis of the exercise or purchase price with respect to the exercise
of options to purchase SPAC Shares; and (k) transactions to satisfy any U.S. federal, state, or local income tax obligations of
the Holder (or its direct or indirect owners) arising from a change in the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
or the U.S. Treasury Regulations promulgated thereunder (the “Regulations”) after the date on which the Business Combination
Agreement was executed by the parties, and such change prevents the transactions contemplated by the Business Combination Agreement from
qualifying as a “reorganization” pursuant to Section 368 of the Code (and the transactions contemplated by the Business
Combination Agreement do not qualify for similar tax-free treatment pursuant to any successor or other provision of the Code or Regulations
taking into account such changes), in each case, solely to the extent necessary to cover any tax liability as a result of the transactions;
provided, however, that, in the case of any transfer pursuant to the foregoing (a) through (e) clauses, it shall
be a condition to any such transfer that the transferee/donee agrees to be bound by the terms of this Agreement (including, without limitation,
the restrictions set forth in the preceding sentence) to the same extent as if the transferee/donee were a party hereto.

 

3.            Representations
and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement, hereby represents and warrants
to the other that (a) such party has the full right, capacity and authority to enter into, deliver and perform its respective obligations
under this Agreement, (b) this Agreement has been duly executed and delivered by such party and is a binding and enforceable obligation
of such party and, enforceable against such party in accordance with the terms of this Agreement, except as limited by applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally,
and by general equitable principles, and (c) the execution, delivery and performance of such party’s obligations under this
Agreement will not conflict with or breach the terms of any other agreement, contract, commitment or understanding to which such party
is a party or to which the assets or securities of such party are bound. The Holder has independently evaluated the merits of his/her/its
decision to enter into and deliver this Agreement, and such Holder confirms that it has not relied on the advice of Company, Company’s
legal counsel, or any other person.

 

4.            No
Additional Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that no fee, payment
or additional consideration in any form has been or will be paid to the Holder in connection with this Agreement.

 

    3

     

    

 

5.            Termination.
This Agreement shall be binding upon Holder upon Holder’s execution and delivery of this Agreement, but this Agreement shall only
become effective upon the Closing. Notwithstanding anything to the contrary contained herein, this Agreement shall terminate (i) by
written agreement of the parties hereto terminating this Agreement, or (b) in the event that Business Combination Agreement is terminated
in accordance with its terms prior to the Closing. Upon termination of this Agreement, all rights and obligations of the parties hereunder
shall automatically terminate and be of no further force or effect. The representations and warranties contained in this Agreement shall
not survive the Closing or the termination of this Agreement.

 

6.            Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be deemed
given: (a) if by hand or recognized courier service, by 4:00 p.m. on a Business Day, addressee’s day and time, on the
date of delivery, and otherwise on the first Business Day after such delivery; (b) if by email, on the date that transmission is
confirmed electronically, if by 4:00 p.m. on a Business Day, addressee’s day and time, and otherwise on the first Business
Day after the date of such confirmation; or (c) five days after mailing by certified or registered mail, return receipt requested.
Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which are for convenience only), or to
such other address as a party shall specify to the others in accordance with these notice provisions:

 

		(a)	If to
                                            Company, to:

 

Zura Bio Limited

Address: 3rd Floor 1 Ashley Road Altrincham WA14 2DT

Attention: Oliver Levy

E-mail:
notices@zurabio.com

 

with a copy to (which shall not constitute notice):

 

McDermott Will & Emery LLP

Address: One Vanderbilt Ave., New York, NY 10017-3852

Attention: Ari Edelman

E-mail:
aedelman@mwe.com

 

(b)            If
to the Holder, to the address set forth on the Holder’s signature page hereto, with a copy, which shall not constitute notice,
to:

 

                                                                                         

                                                                                         

                                                                                         

Email:

 

(c)            If
to SPAC, to:

 

JATT Acquisition Corp

PO Box 309, Ugland House,

Grand Cayman, Cayman Islands

Attention: Verender Badial

E-mail:
verender.badial@jattacquisition.com

 

with a copy to (which shall not constitute notice):

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attention:
Mitchell Nussbaum

E-mail:
mnussbaum@loeb.com

 

or to such other address(es) as any party may have furnished to the
others in writing in accordance herewith.

 

    4

     

    

 

7.            Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall not control
or affect the meaning or construction of any of the provisions of this Agreement.

 

8.            Counterparts.
This Agreement may be executed by facsimile, email or other electronic transmission and in any number of counterparts, each of which
when so executed and delivered shall be deemed an original, but all of which shall together constitute one and the same agreement.

 

9.            Successors
and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon, and shall inure to
the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby acknowledges and agrees that this
Agreement is entered into for the benefit of and is enforceable by Company and its successors and assigns.

 

10.            Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to prevailing
law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the remaining provisions of this
Agreement shall remain in full force and effect and shall be binding upon the parties hereto.

 

11.            Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

12.            Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

13.            No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

    5

     

    

 

14.            Dispute
Resolution. Section 11.9 of the Business Combination Agreement is incorporated by reference herein to apply with full force
to any disputes arising under this Agreement.

 

15.            Governing
Law. Section 11.9 of the Business Combination Agreement is incorporated by reference herein to apply with full force to any
disputes arising under this Agreement.

 

16.            Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time to time)
directly conflicts with a provisions in the Business Combination Agreement, the terms of this Agreement shall control.

 

17.            Other
Agreements. SPAC represents and warrants to Holder that this Agreement is in substantially the same form and substance (including
with respect to the types and percentage of holdings of securities subject to this Agreement, the time periods for the transfer restrictions,
and carve-outs from the transfer restrictions, which shall in each case be identical) as all other agreements to be executed in connection
with any other agreement by and between any other holder of shares of the Company and SPAC related to restrictions on transfer similar
to those set forth in this Agreement, except for the Letter Agreement, dated July 13, 2021, by and among SPAC, JATT Ventures, L.P.
and JATT officers and directors at the time of JATT’s initial public offering, as amended, (the “Other Lock-Up Agreements”),
and each of SPAC and the Company hereby agrees that it will not change, amend or modify any of the terms of the Other Lock-Up Agreements
in a manner beneficial to any other holder of securities of the Company without similarly changing, amending or modifying such terms
of this Agreement.

 

18.            Pro-Rata
Release. If, prior to the expiration of the Lock-Up Period set forth in this Agreement, the restrictions on transfer in any Other
Lock-Up Agreement are waived, terminated or suspended, in whole or in part, permanently or for a limited period of time, then this Agreement
shall be deemed to be automatically modified without any further action so that the restrictions on transfer set forth in this Agreement
are also waived, terminated or suspended on the same terms and for the same percentage of Lock-up Shares of the Holder. SPAC and the
Company shall, upon any such automatic modification of this Agreement, notify the Holder of such modification in writing as promptly
as reasonably practicable and in any event at least 12 hours prior to the open of trading markets on the date such waiver, termination
or suspension is to take effect.

 

19.            Entire
Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject
matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both
written and oral, with respect to such subject matter.

 

[Signature Pages Follow]

 

    6

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

		JATT ACQUISITION CORP
	 	 	 
	 	By:	           
	 	 	Name:
	 	 	Title:

 

[Signature Page –
1 of 2]

 

     

     

    

 

		HOLDER:
	 	 
	 	Eli Lilly and Company
	 	 	 
	 	By:	           
	 	 	Name:
	 	 	Title:

 

[Signature Page –
2of 2]EXHIBIT 10.1

 

 

	 

 

 

LOAN AGREEMENT

 

dated as of December
11, 2022,

 

between

 

WEBER-STEPHEN
PRODUCTS LLC,

 

as the Borrower,

 

and

 

the Lenders referred to herein,

 

as the Lenders

 

	 
	 
	THE LOANS WILL BE ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR UNITED STATES FEDERAL INCOME TAX PURPOSES. THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY OF THE LOANS MAY BE OBTAINED BY WRITING TO THE BORROWER AT THE ADDRESS SET FORTH IN SECTION 7.01.

    	 

    	 

    

TABLE OF CONTENTS

 

Page

 

	ARTICLE I

                                                                                Definitions

	SECTION 1.01.   Defined Terms	1
	SECTION 1.02.   Terms Generally	9
	SECTION 1.03.   Timing of Payment or Performance	9
	SECTION 1.04.   Payment in Kind	10
	ARTICLE II

                                                                                Loans

	SECTION 2.01.   Commitments; Loans; Borrowing Procedure	10
	SECTION 2.02.   Repayment of Loans; Evidence of Debt	11
	SECTION 2.03.   Interest	11
	SECTION 2.04.   Fees	12
	SECTION 2.05.   Prepayments; Termination/Reduction of Commitments	13
	SECTION 2.06.   Taxes	14
	SECTION 2.07.   Payments Generally	14
	ARTICLE III

                                                                                Representations and Warranties

	SECTION 3.01.   Organization; Powers	15
	SECTION 3.02.   Authorization	15
	SECTION 3.03.   Enforceability	15
	SECTION 3.04.   Governmental Approvals	16
	SECTION 3.05.   Use of Proceeds	16
	SECTION 3.06.   Compliance with Laws	16
	ARTICLE IV

                                                                                Conditions of Lending

	SECTION 4.01.   Agreement Effectiveness	17
	SECTION 4.02.   Each Borrowing	17

    i 

     

    

 

 

	ARTICLE V

                                                                                Covenants

	SECTION 5.01.   Existence	18
	SECTION 5.02.   Notice of Default	18
	SECTION 5.03.   Compliance with Laws	18
	ARTICLE VI

                                                                                Events of Default

	SECTION 6.01.   Events of Default	19
	ARTICLE VII

                                                                                Miscellaneous

	SECTION 7.01.   Notices	21
	SECTION 7.02.   Survival	22
	SECTION 7.03.   Successors and Assigns; No Third Party Beneficiaries; Participations	22
	SECTION 7.04.   Expenses; Indemnity	24
	SECTION 7.05.   Applicable Law	26
	SECTION 7.06.   Waivers; Amendments	26
	SECTION 7.07.   Entire Agreement	28
	SECTION 7.08.   WAIVER OF JURY TRIAL	28
	SECTION 7.09.   Severability	28
	SECTION 7.10.   Counterparts	28
	SECTION 7.11.   Headings	29
	SECTION 7.12.   Jurisdiction; Consent to Service of Process	29
	SECTION 7.13.   Certain Acknowledgements	29
	SECTION 7.14.   Right of Setoff	30

SCHEDULE

 

Schedule 1 – Lender Commitments

 

EXHIBIT

 

EXHIBIT A – Form of Borrowing Request

 

    ii 

     

    

LOAN AGREEMENT dated
as of December 11, 2022, among WEBER-STEPHEN PRODUCTS LLC, a Delaware limited liability company (the “Borrower”), and
the Lenders from time to time party hereto.

 

The Borrower has requested that
the Lenders extend credit to the Borrower in the form of (a) a revolving loan facility in an aggregate committed principal amount equal
to $230,000,000 and (b) a delayed draw term loan facility in an aggregate principal amount equal to $120,000,000. The proceeds of the
Loans will be used by the Borrower solely (i) to pay certain fees and expenses in connection with the Transactions and (ii) for
working capital, capital expenditures and other general corporate purposes of the Borrower and its Subsidiaries, including the repayment
of revolving Indebtedness under the Existing Credit Agreement. The Lenders are willing to extend such credit to the Borrower on the terms
and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows:

 

ARTICLE
I

Definitions

 

SECTION 1.01.Defined
Terms. As used in this Agreement (including the preliminary statement hereto), the following terms have the meanings specified below:

 

“Affiliate”
shall mean, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls
or is Controlled by or is under common Control with the Person specified; provided that solely for purposes of this Agreement,
the Group Members shall not be considered Affiliates of the Lenders, and the Lenders shall not be considered Affiliates of the Group Members.

 

“Agreement”
shall mean this Loan Agreement.

 

“Anti-Corruption Laws”
shall have the meaning assigned to such term in Section 3.06(d).

 

“Borrower”
shall have the meaning assigned to such term in the Preamble.

 

“Borrowing”
shall mean Loans made on the same date.

 

“Borrowing Request”
shall mean a request by the Borrower for a Borrowing in accordance with Section 2.01(d), which shall be in the form of Exhibit
A or any other form approved by the Designated Lender and the Borrower.

 

“Business Day”
shall mean any day other than (a) a Saturday or Sunday or (b) a day on which banks in New York City are authorized or required by Law
to remain closed.

 

    	 

    	 

    

“Capitalized Lease
Obligations” shall mean, at the time any determination thereof is to be made, the amount of the liability in respect of a capital
lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto)
in accordance with GAAP; provided that obligations of the Borrower or its Subsidiaries, or of a special purpose or other entity
not consolidated with the Borrower and its Subsidiaries, either existing on the Closing Date or created thereafter that (a) initially
were not included on the consolidated balance sheet of the Borrower as capital lease obligations and were subsequently recharacterized
as capital lease obligations or, in the case of such a special purpose or other entity becoming consolidated with the Borrower and its
Subsidiaries were required to be characterized as capital lease obligations upon such consolidation, in either case, due to a change in
accounting treatment or otherwise, or (b) did not exist on the Closing Date and were required to be characterized as capital lease obligations
but would not have been required to be treated as capital lease obligations on the Closing Date had they existed at that time, shall for
all purposes not be treated as Capitalized Lease Obligations or Indebtedness; provided, further, that notwithstanding any
changes in GAAP after December 31, 2017 or anything else herein to the contrary, any lease of the Borrower and its Subsidiaries, or of
a special purpose or other entity not consolidated with the Borrower and its Subsidiaries at the time of its incurrence of such lease,
that would be characterized as an operating lease under GAAP in effect on December 31, 2017 (whether such lease is entered into before
or after December 31, 2017) shall not constitute Indebtedness or a Capitalized Lease Obligation of the Borrower or any Subsidiary under
this Agreement as a result of such changes in GAAP.

 

“Class”,
when used with respect to (a) any Loan, refers to whether such Loan is a Revolving Loan or a Term Loan and (b) any Commitment, refers
to whether such Commitment is a Revolving Credit Commitment or a Term Commitment.

 

“Closing Date”
shall mean the first date on which all the conditions set forth in Section 4.01 are satisfied.

 

“Code” shall
mean the Internal Revenue Code of 1986.

 

“Commitment”
shall mean, with respect to each Lender at any time, such Lender’s Term Commitment or Revolving Credit Commitment, as applicable,
in effect at such time.

 

“Control”
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person,
whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling” and “Controlled”
shall have meanings correlative thereto.

 

“Default”
shall mean any event or condition that upon notice, lapse of time or both would constitute an Event of Default.

 

“Designated Lender”
shall mean (a) initially, Ribeye Parent, LLC and (b) thereafter, any Lender designated as the “Designated Lender” by the then-existing

 

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Designated Lender with the prior
written consent of the Borrower (not to be unreasonably withheld, delayed or conditioned).

 

“Dollars”
or “$” shall mean lawful money of the United States of America.

 

“EBITDA”,
for any Test Period, shall have the meaning set forth in the Existing Credit Agreement as in effect as of the date hereof.

 

“Events of Default”
shall have the meaning assigned to such term in Section 6.01.

 

“Excluded Taxes”
shall mean (a) Taxes imposed on or measured by net income (however denominated), and franchise Taxes, in each case, (i) imposed as
a result of any Lender being organized under the Laws of, or resident for Tax purposes in, the jurisdiction imposing such Tax (or any
political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes
imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in
effect on the date on which (i) such Lender acquires such interest in the Loan or (ii) such Lender changes its lending office, except
in each case to the extent that, pursuant to Section 2.06, amounts with respect to such Taxes were payable either to such Lender’s
assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c)
any branch profits Taxes or any similar Tax imposed by any jurisdiction described in clause (a), (d) any Taxes attributable
to a Lender’s failure to comply with Section 2.06(c) and (e) any U.S. withholding Taxes imposed under FATCA.

 

“Existing Credit Agreement”
shall mean that certain Credit Agreement dated as of October 30, 2020 (as amended, supplemented, restated, replaced, refinanced or otherwise
modified from time to time), among the Borrowers party thereto (as defined therein), the other Loan Parties party thereto (as defined
therein), the lenders and issuing banks from to time party thereto and Bank of America, N.A. as administrative agent for the lenders and
collateral agent for the secured parties.

 

“FATCA” shall
mean Section 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable), any current or future regulations or official interpretations thereof.

 

“Financial Officer”
of any Person shall mean the Chief Financial Officer or an equivalent financial officer, principal accounting officer, Chief Executive
Officer, Treasurer, Assistant Treasurer, Controller or a director of such Person, or a duly authorized signatory of such Person who is
a Financial Officer of a Subsidiary of such Person.

 

“GAAP” shall
mean generally accepted accounting principles in the United States of America, as in effect from time to time.

 

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“Governmental Authority”
shall mean any federal, state, local or foreign court or governmental agency, authority, instrumentality or regulatory or legislative
body.

 

“Group Members”
shall mean the Borrower and each Subsidiary of the Borrower.

 

“Guarantee”
of or by any Person (the “guarantor”) shall mean (a) any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other monetary obligation (the “primary obligations”)
payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and
including any obligation of the guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring
the owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness or other obligation of
the payment thereof or to protect such holders against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of
the guarantor securing any Indebtedness or other obligation (or any existing right, contingent or otherwise, of the holder of Indebtedness
or other obligation to be secured by such a Lien) of any other Person, whether or not such Indebtedness or other obligation is assumed
by the guarantor; provided, however, that the term “Guarantee” shall not include endorsements of instruments
for deposit or collection in the ordinary course of business or customary and reasonable indemnity obligations in effect on the Closing
Date or entered into in connection with any acquisition or disposition of assets (other than such obligations with respect to Indebtedness).
The amount of any Guarantee of any guarantor shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount
of the primary obligation in respect of which such Guarantee is made and (b) the maximum amount for which such guarantor may be liable
pursuant to the terms of the instrument embodying such Guarantee, unless such primary obligation and the maximum amount for which such
guarantor may be liable are not stated or determinable, in which case the amount of such Guarantee shall be such guarantor’s maximum
reasonably anticipated liability in respect thereof as determined by the Borrower in good faith.

 

“Hedging Agreement”
shall mean any agreement with respect to any swap, forward, future or derivative transaction, or option or similar agreement involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial
or pricing indices or measures of economic, financial or pricing risk or value, or credit spread transaction, repurchase transaction,
reserve repurchase transaction, securities lending transaction, weather index transaction, spot contracts, fixed price physical delivery
contracts, or any similar transaction or any combination of these transactions, in each case of the foregoing, whether or not exchange
traded; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former

 

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directors, officers, employees
or consultants of the Borrower or any of its Subsidiaries shall be a Hedging Agreement.

 

“Indebtedness”
of any Person shall mean, if and to the extent (other than with respect to clause (i)) the same would constitute indebtedness or a liability
on a balance sheet prepared in accordance with GAAP, without duplication, (a) all obligations of such Person for borrowed money, (b) all
obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional
sale or other title retention agreements relating to property or assets purchased by such Person, (d) all obligations of such Person issued
or assumed as the deferred purchase price of property or services (other than such obligations accrued in the ordinary course), to the
extent that the same would be required to be shown as a long-term liability on a balance sheet prepared in accordance with GAAP, (e) all
Capitalized Lease Obligations of such Person, (f) all net payments that such Person would have to make in the event of an early termination,
on the date Indebtedness of such Person is being determined, in respect of outstanding Hedging Agreements, (g) the principal component
of all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit, (h) the principal component
of all obligations of such Person in respect of bankers’ acceptances, and (i) all Guarantees by such Person of Indebtedness described
in clauses (a) to (h) above (other than Indebtedness of another Group Member); provided that Indebtedness shall not include (A)
trade and other ordinary-course payables, accrued expenses, and intercompany liabilities arising in the ordinary course of business, (B)
prepaid or deferred revenue, (C) purchase price holdbacks arising in the ordinary course of business in respect of a portion of the purchase
prices of an asset to satisfy unperformed obligations of the seller of such asset, (D) obligations under or in respect of receivables
financings, (E) earn-out obligations until such obligations become a liability on the balance sheet of such person in accordance with
GAAP, (F) obligations in respect of any segregated accounts or funds, or any portion thereof, received by the Borrower or any of its Subsidiaries
as agent on behalf of third parties in accordance with a written agreement that imposes a duty upon the Borrower or one or more of its
Subsidiaries to collect and remit those funds to such third parties, (G) in the case of the Borrower and its Subsidiaries, (I) all intercompany
Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms) and made in the ordinary course
of business and (II) intercompany liabilities in connection with the cash management, Tax and accounting operations of the Borrower and
its Subsidiaries or (H) defined benefit liabilities. The Indebtedness of any Person shall include the Indebtedness of any partnership
in which such person is a general partner, other than to the extent that the instrument or agreement evidencing such Indebtedness limits
the liability of such person in respect thereof.

 

“Indemnified Taxes”
shall mean Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the
Borrower under this Agreement.

 

“Indemnitee”
shall have the meaning assigned to such term in Section 7.04(b).

 

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“Interest Payment Date”
means the last Business Day of each March, June, September and December (commencing on the last Business Day of December 2022) and the
Maturity Date.

 

“Laws” shall
mean, collectively, all international, foreign, federal, state, provincial and local statutes, treaties, rules, guidelines, regulations,
ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by
any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders,
directed duties, requests, licenses, authorizations and permits of, and agreements (other than commercial agreements) with, any Governmental
Authority.

 

“Legal Reservations”
shall mean (a) the principle that equitable remedies are remedies which may be granted or refused at the discretion of the court, the
principle of reasonableness and fairness, the limitation of enforcement by laws relating to bankruptcy, insolvency, liquidation, reorganization,
court schemes, moratoria, administration and other laws generally affecting the rights of creditors and secured creditors, (b) the time
barring of claims under applicable statutes of limitation, the possibility that an undertaking to assume liability for or indemnify a
person against non-payment of stamp duty may be void and defenses of set-off or counterclaim, (c) similar principles, right and defenses
under the laws of any relevant jurisdiction and (d) any other matters which are set out as qualifications or reservations as to matters
of law of general application in any legal opinion delivered in connection with this Agreement.

 

“Lenders”
shall mean each Person listed on Schedule 1 and any other Person that shall have become a party to this Agreement as a Lender thereafter,
other than any Person that ceases to be a party hereto as a Lender pursuant to Section 7.03(a).

 

“Lien” shall
mean, with respect to any asset, (a) any mortgage, assignment or transfer for security purposes, deed of trust, lien, hypothecation, pledge,
charge, security interest or similar monetary encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional
sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any
of the foregoing) relating to such asset; provided that in no event shall an operating lease or an agreement to sell be deemed
to constitute a Lien.

 

“Loan” shall
mean any Revolving Loan or any Term Loan.

 

“Material Adverse Effect”
shall mean, (a) a material adverse effect on the business, financial condition or results of operations of the Borrower and its Subsidiaries
(taken as a whole), or (b) a material and adverse effect on the material rights and remedies (taken as a whole) of the Lenders under this
Agreement.

 

“Material Indebtedness”
shall mean (a) Indebtedness under the Existing Revolving Credit Agreement, (b) other Indebtedness (other than the Loans) of the Borrower
or any Subsidiary in an aggregate principal amount exceeding the greater of (x)

 

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$75,000,000 and (y) 0.33 times
EBITDA calculated on a Pro Forma Basis for the most recently ended Test Period.

 

“Material Subsidiary”
shall have the meaning assigned to such term in the Existing Credit Agreement as in effect as of the date hereof.

 

“Maturity Date”
shall mean December 31, 2023.

 

“OFAC” shall
have the meaning assigned to such term in Section 3.06(c).

 

“Other Connection Taxes”
shall mean Taxes imposed as a result of a present or former connection between any Lender and the jurisdiction imposing such Taxes (other
than a connection arising from such Lender having executed, delivered, enforced, become a party to, performed its obligations under, received
payments under, received or perfected a security interest under, or engaged in any other transaction pursuant to, this Agreement, or sold
or assigned an interest in this Agreement).

 

“Other Taxes”
shall mean any and all present or future stamp or documentary Taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement, except
any such Taxes imposed with respect to an assignment.

 

“Person”
shall mean any natural person, corporation, business trust, joint venture, association, company, limited liability company, partnership,
Governmental Authority or other entity.

 

“Pro Forma Basis”
shall have the meaning set forth in the Existing Credit Agreement as in effect as of the date hereof.

 

“Related Parties”
shall mean, with respect to any specified Person, such Person’s Affiliates and Controlling Persons and the respective directors,
partners, trustees, officers, employees, agents, representatives and advisors of each of the foregoing and their successors and permitted
assigns.

 

“Required Lenders”
shall mean, at any time, Lenders having Revolving Loans, Term Loans, unused Revolving Credit Commitments and/or unused Term Commitments
that, taken together, represent more than 50% of the aggregate sum of all Revolving Loans, Term Loans, unused Revolving Credit Commitments
and unused Term Commitments at such time (it being understood that there shall be no limitation on Lenders that are Affiliates of the
Borrower in connection with the determination of “Required Lenders”).

 

“Responsible Officer”
of any Person shall mean any executive officer or Financial Officer of such Person and any other officer responsible for the administration
of the obligations of such Person under and in respect of this Agreement.

 

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“Revolving Credit Commitment”
shall mean, with respect to each Lender, the commitment of such Lender to make Revolving Loans hereunder as such commitment is set forth
opposite such Lender’s name on Schedule 1, as such commitment may be (a) reduced or increased from time to time pursuant
to Section 2.05 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section
7.03. The aggregate amount of the Revolving Credit Commitments on the Closing Date is $230,000,000.

 

“Revolving Loans”
means the revolving loans made by the Lenders to the Borrower pursuant to Section 2.01(a)(i).

 

“Sanctioned Country”
shall have the meaning assigned to such term in Section 3.06(c).

 

“Sanctions”
shall have the meaning assigned to such term in Section 3.06(c).

 

“Sanctions Laws”
shall have the meaning assigned to such term in Section 3.06(c).

 

“Subsidiary”
shall mean, with respect to any Person (herein referred to as the “parent”), any corporation, partnership, association
or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or more than 50% of the general partnership interests are, at the time any determination is being made, directly
or indirectly, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or
one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise specified, all references
herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. Notwithstanding
the foregoing, an Unrestricted Subsidiary shall be deemed not to be a Subsidiary of the Borrower or any of its Subsidiaries for purposes
of this Agreement.

 

“Taxes” shall
mean any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees, stamp taxes, withholding (including
backup withholding) or other charges imposed by any Governmental Authority (including additions to tax, penalties and interest with respect
thereto).

 

“Term Commitment”
shall mean, with respect to each Lender, the commitment of such Lender to make Term Loans hereunder in an aggregate principal amount not
to exceed the amount set forth opposite such Lender’s name on Schedule 1, as such commitment may be (a) reduced or increased
from time to time pursuant to Section 2.05 and (b) reduced or increased from time to time pursuant to assignments by or to
such Lender pursuant to Section 7.03. The aggregate amount of the Term Commitments on the Closing Date is $120,000,000.

 

“Term Loan Funding
Date” shall mean any date on which Term Loans are borrowed by the Borrower pursuant to this Agreement.

 

    8

     

    

“Term Loans”
shall mean the term loans made by the Lenders to the Borrower pursuant to Section 2.01(a)(ii).

 

“Test Period”
shall have the meaning set forth in the Existing Credit Agreement as in effect as of the date hereof.

 

“Transactions”
shall mean (a) the execution, delivery and performance by the Borrower of this Agreement and (b) the payment of the fees and
expenses incurred in connection with the consummation of the foregoing.

 

“Unrestricted Subsidiary”
shall mean any entity designated as an “Unrestricted Subsidiary” in accordance with the Existing Credit Agreement as in effect
as of the date hereof.

 

“USA PATRIOT Act”
means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title
III of Pub. L. No. 107 56 (signed into law October 26, 2001)).

 

SECTION 1.02.Terms Generally.
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require,
any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will”
shall be construed to have the same meaning and effect as the word “shall”. The words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights. Unless otherwise expressly provided herein, (a) references to documents, agreements
and other contractual instruments shall be deemed to include all subsequent amendments, restatements, amendments and restatements, extensions,
supplements and other modifications thereto, but only to the extent that such amendments, restatements, amendments and restatements, extensions,
supplements and other modifications are permitted by this Agreement, (b) references to any Law shall include all statutory and regulatory
provisions consolidating, amending, replacing, supplementing or interpreting such Law, (c) references herein to any Person shall be construed
to include such Person’s successors and assigns (subject to any restrictions on assignment set forth herein), (d) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof and (e) all references herein to Articles, Sections and Exhibits shall be construed to
refer to Articles and Sections of, and Exhibits to, this Agreement.

 

SECTION 1.03.Timing of
Payment or Performance. When the payment of any obligation or the performance of any covenant, duty or obligation is stated
to be due or performance required on a day which is not a Business Day, the date of such payment or performance shall extend to the immediately
succeeding Business Day.

 

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SECTION 1.04.Payment
in Kind. Notwithstanding anything to the contrary contained in this Agreement, the amount of interest or fees capitalized and added
to the outstanding principal balance of the applicable Class of Loans pursuant to Sections 2.03 and 2.04, as applicable,
while being added to and constituting a portion of the outstanding principal balance of the applicable Class of Loans pursuant to such
Sections for all purposes under this Agreement, (i) shall not be deemed to constitute utilization of the applicable Class of Commitments
for purposes of Section 2.01 and (ii) shall be disregarded when calculating the fees in respect of the applicable Class of Commitments
as set forth in Section 2.04.

 

ARTICLE
II

Loans

 

SECTION 2.01.Commitments;
Loans; Borrowing Procedure. (a) Subject to the terms and conditions set forth herein, (i) each Lender with a Revolving Credit Commitment
set forth on Schedule 1 severally and not jointly agrees to make Revolving Loans to the Borrower, at any time and from time
to time on or after the date hereof and until the Maturity Date (or earlier termination of the Revolving Credit Commitments), in an aggregate
principal amount that will not result in (A) the aggregate principal amount of such Lender’s Revolving Loans exceeding such Lender’s
Revolving Credit Commitment or (B) the aggregate principal amount of the total Revolving Loans exceeding the total Revolving Credit Commitments
and (ii) each Lender with a Term Commitment set forth on Schedule 1 severally and not jointly agrees to make Term Loans to
the Borrower, at any time and from time to time on or after the date hereof and until the Maturity Date (or earlier termination of the
Term Commitments), in an aggregate principal amount not to exceed such Lender’s Term Commitment as in effect immediately prior thereto.

 

(b)       All
Loans shall be denominated in Dollars. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower
may borrow, pay or prepay and reborrow Revolving Loans hereunder. Amounts paid or prepaid in respect of the Term Loans may not be re-borrowed.

 

(c)       At
the time each Loan is made, it shall be in an aggregate principal amount that is an integral multiple of $5,000,000 and a minimum amount
of $5,000,000 (or such other multiple or minimum as may be agreed to by the Borrower and the Lenders from time to time). Each Lender shall
make each Loan to be made by it hereunder on the requested date thereof by wire transfer of immediately available funds to such account
as the Borrower may designate in the applicable Borrowing Request.

 

(d)       In
order to request a Loan, the Borrower shall notify the Designated Lender of such request by delivery to the Designated Lender of a written
Borrowing Request in accordance with Section 4.02(a). Each Borrowing Request shall specify (i) the requested date of such Loan
(which shall be a Business Day), (ii) the number and location of the account to which funds are to be disbursed and (iii) the

 

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amount of such Loan (which shall
comply with the requirements of Section 2.01(c)) and the Class thereof.

 

SECTION 2.02.Repayment
of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay to the Lenders the then unpaid principal amount
of each Loan on the Maturity Date.

 

(b)       Each
Lender shall maintain an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made
by the such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time
under this Agreement. The records maintained by the each Lender shall be prima facie evidence, absent a manifest error, of the
existence and amounts of the obligations of the Borrower in respect of the Loans made by such Lender, interest and fees due or accrued
hereunder; provided that the failure of any Lender to maintain such records or any error therein shall not in any manner affect
the obligation of the Borrower to pay any amounts due hereunder in accordance with the terms of this Agreement.

 

(c)       Any
Lender may request that Loans made by it hereunder be evidenced by a promissory note. In such event, the Borrower shall prepare, execute
and deliver to such Lender a promissory note payable to such Lender in a form reasonably satisfactory to such Lender. Notwithstanding
any other provision of this Agreement, in the event any Lender shall request and receive such a promissory note, the interests represented
by such note shall at all times be represented by one or more promissory notes payable to the payee named therein.

 

SECTION 2.03.Interest.
(a) Subject to Section 2.03(b), the Loans shall bear interest at a rate per annum equal to 15.00%. Subject to Section 2.03(b),
accrued interest on each Loan shall be payable on (i) each Interest Payment Date, (ii) on the Maturity Date and (iii) in the case of a
Revolving Loan, upon the termination of the Revolving Credit Commitments, provided that (A) in the event of any repayment or prepayment
of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and
(B) at the Borrower’s election (which election shall be deemed made in the event that the Borrower does not make such payment in
cash on the applicable Interest Payment Date), interest payments payable on any Interest Payment Date after the Closing Date (but prior
to the Maturity Date) may be payable by adding such interest to the outstanding principal amount of the then-outstanding applicable Class
of Loans on the applicable Interest Payment Date (with such interest thereafter being deemed to form part of the principal).

 

(b)       If
any Event of Default has occurred and is continuing under Section 6.01(b), 6.01(c), 6.01(g) or 6.01(h), then,
for so long as such Event of Default is continuing, to the extent permitted by Law, the principal amount of the Loans and, to the extent
due and payable, all other amounts outstanding under this Agreement shall bear interest (after as well as before judgment), payable on
demand, (i) in the case of any Loan, at the rate otherwise applicable to such Loan pursuant to Section 2.03(a) plus

 

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2.00% per annum and (ii) in
the case of any other amount, at the rate applicable to Loans as provided in Section 2.03(a) plus 2.00% per annum.

 

(c)       All
interest hereunder shall be computed on the basis of a year of 360 days, and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

 

SECTION 2.04.Fees.
(a) The Borrower agrees to pay on the Closing Date to each Lender party to this Agreement with a Revolving Credit Commitment on the Closing
Date, an upfront fee in an amount equal to 2.00% of the aggregate amount of such Lender’s Revolving Credit Commitments on the Closing
Date (it being understood that, at the option of the Borrower such upfront fee may be paid by adding such upfront fee to the initial principal
amount of any Revolving Loans borrowed on the Closing Date). Such upfront fee shall be in all respects fully earned, due and payable on
the Closing Date and non-refundable and non-creditable thereafter.

 

(b)       The
Borrower agrees to pay on any Term Loan Funding Date to each Lender with a Term Commitment party to this Agreement on such Term Loan Funding
Date, an upfront fee in an amount equal to 2.00% of the aggregate principal amount of such Lender’s Term Loans to be made on such
Term Loan Funding Date (it being understood that, at the option of the Borrower set forth in the Borrowing Request in respect of any Term
Loans, (i) such Term Loans may be net funded on the applicable Term Loan Funding Date to account for such upfront fee or (ii) such upfront
fee may be paid by adding such upfront fee to the initial principal amount of the Term Loans borrowed on the applicable Term Loan Funding
Date). Such upfront fee shall be in all respects fully earned, due and payable on the applicable Term Loan Funding Date and non-refundable
and non-creditable thereafter.

 

(c)       The
Borrower agrees to pay to each Lender party to this Agreement as a Lender with a Revolving Credit Commitment at such time, an undrawn
commitment fee, which shall accrue at a rate equal to 0.50% per annum on the average daily amount of the unused Revolving Credit Commitment
of such Lender during the period from and including the Closing Date to the date on which such Lender’s applicable Revolving Credit
Commitment terminates. Accrued undrawn commitment fees shall be payable quarterly in arrears on the last Business Day of each March, June,
September and December after the Closing Date (commencing on the last Business Day of December 2022) and on the Maturity Date; provided
that, at the Borrower’s election (which election shall be deemed made in the event that the Borrower does not make such payment
in cash on the date such payment is due), payments of undrawn commitment fees after the Closing Date (but prior to the Maturity Date)
may be payable by adding such fees to the outstanding principal amount of the then-outstanding Revolving Loans on the date such payment
is due (with such fees thereafter being deemed to form part of the principal).

 

(d)       The
Borrower agrees to pay to each Lender party to this Agreement as a Lender with a Term Commitment an undrawn commitment fee, which shall
accrue at a rate equal to 0.50% per annum on the average daily amount of the Term

 

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Commitment of such Lender during
the period from and including the Closing Date to the date on which such Lender’s applicable Term Commitment terminates. Accrued
commitment fees shall be payable quarterly in arrears on the last Business Day of each March, June, September and December after the Closing
Date (commencing on the last Business Day of December 2022) and on the Maturity Date; provided that, at the Borrower’s election
(which election shall be deemed made in the event that the Borrower does not make such payment in cash on the date such payment is due),
payments of commitment fees after the Closing Date (but prior to the Maturity Date) may be payable by adding such fees to the outstanding
principal amount of the then-outstanding Term Loans on the date such payment is due (with such fees thereafter being deemed to form part
of the principal).

 

SECTION 2.05.Prepayments;
Termination/Reduction of Commitments. (a) The Borrower shall have the right, at any time and from time to time, to prepay any Loan
and/or terminate or reduce the Revolving Credit Commitments or Term Commitments hereunder, in whole or in part, upon providing written
notice thereof to the Designated Lender not later than 12:00 noon, New York City time, two Business Day(s) before the date of prepayment,
termination or reduction, as applicable (or such later time as may be agreed to by the Borrower and the Designated Lender from time to
time); provided that the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any
concurrent prepayment of Revolving Loans, the total amount of outstanding Revolving Loans would exceed the total Revolving Credit Commitments;
provided, further that each partial prepayment or partial reduction of Revolving Credit Commitments or Term Commitments shall be
in an amount that is an integral multiple of $1,000,000 and in a minimum amount of $2,000,000 (or such other multiple or minimum as may
be agreed to by the Borrower and the Designated Lender from time to time); provided, further that a notice of prepayment,
termination or reduction may state that such notice is conditioned upon the effectiveness of other credit facilities, indentures or similar
agreements or other transactions, in which case such notice may be revoked by the Borrower (by notice to the Designated Lender on or prior
to the specified effective date) if such condition is not satisfied.

 

(b)       Each
notice of prepayment, termination or reduction shall specify (i) the date of prepayment, termination or reduction, as applicable, (ii)
the Class of Loans or Commitments to be prepaid, terminated or reduced, as applicable, and (iii) the principal amount of the Loans to
be prepaid and the amount of Commitments hereunder to be terminated or reduced, as applicable. All prepayments of Loans or termination
or reduction of Revolving Credit Commitments or Term Commitments under this Section 2.05 shall be without premium or penalty.
Any termination or reduction of the Revolving Credit Commitments or Term Commitments shall be permanent.

 

(c)       All
prepayments under this Section 2.05 shall be applied, first, pro rata to any accrued and unpaid interest then owing (excluding
interest paid in kind pursuant to Section 2.03(a)), until all such interest has been repaid, and second, pro rata to the principal
amount of each outstanding Loan.

 

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(d)       Unless
previously terminated, (i) the Term Commitments of any Lender shall reduce automatically upon the funding by such Lender of a Term Loan
by an amount equal to the principal amount of such Term Loan and (ii) all Commitments shall terminate on the Maturity Date.

 

(e)       If
the Designated Lender notifies the Borrower at any time that the total outstanding amount of the Revolving Loans at such time exceed the
Revolving Credit Commitments then in effect, then, within two Business Days after receipt of such notice, the Borrower shall prepay Revolving
Loans in an aggregate amount sufficient to reduce such outstanding amount of the Revolving Loans as of such date of payment to an amount
not to exceed 100% of the Revolving Credit Commitments then in effect.

 

SECTION 2.06.Taxes.
(a) Withholding Taxes. All payments made by the Borrower under this Agreement shall be made without withholding for any Taxes,
unless such withholding is required by law. If the Borrower determines, in its sole discretion exercised in good faith, that it is so
required to withhold Tax, then the Borrower may so withhold and shall timely pay the full amount of withheld Tax to the relevant Governmental
Authority in accordance with applicable law.

 

(b)       Payment
of Other Taxes by the Borrower. The Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance
with applicable law.

 

(c)       Tax
Documentation. Any Lender shall, on or prior to the date hereof and at the time or times reasonably requested by the Borrower, deliver
to the Borrower a duly-completed IRS Form W-9, or W-8, as appropriate (or applicable successor form) to enable the Borrower to determine
whether such Lender is subject to U.S. Federal backup withholding. Any such Lender shall, upon the obsolescence or invalidity of any such
IRS Form W-9, or W-8, as appropriate, promptly deliver to the Borrower a new such IRS Form W-9, or W-8, as appropriate.

 

(d)       Indemnification
by the Borrower. The Borrower shall indemnify each Lender for any Indemnified Taxes that are paid or payable by such Lender in connection
with this Agreement (including amounts paid or payable under this Section 2.06(d) and any reasonable expenses arising therefrom
or with respect thereto), whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. The indemnity under this Section 2.06(d) shall be paid within 10 days after such Lender delivers to the Borrower
a certificate stating the amount of any Indemnified Taxes so paid or payable by such Lender and describing the basis for the indemnification
claim. Such certificate shall be conclusive of the amount so paid or payable absent manifest error.

 

SECTION 2.07.Payments
Generally. (a) The Borrower shall make each payment required to be made by it hereunder on the date when due prior to the time expressly
required hereunder for such payment (or, if no such time is expressly required, prior to 12:00 noon, New York City time, or such later
time as may be acceptable to the Designated Lender), in immediately available funds, without any defense, set-off,

 

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recoupment or counterclaim,
to such accounts as may be specified by the Lenders from time to time. Any amounts received after such time on any date may, in the sole
discretion of the Designated Lender, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next
succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.
All payments hereunder shall be made in Dollars.

 

(b)       If
at any time insufficient funds are received by and available to any Lender to pay fully all amounts of principal and interest then due
to it hereunder, such funds shall be applied (i) first, towards payment of interest then due hereunder and (ii) second, towards
payment of principal then due hereunder.

 

ARTICLE
III

Representations and Warranties

 

The Borrower represents and
warrants to the Lenders that:

 

SECTION 3.01.Organization; Powers.
The Borrower (a) is a partnership, limited liability company, corporation, company or other entity duly organized or incorporated,
validly existing and in good standing under the laws of the jurisdiction of its organization or incorporation, (b) has all requisite entity
level power and authority to own its material property and assets and to carry on its business in all material respects as now conducted,
(c) is qualified to do business in each jurisdiction where such qualification is required, except where the failure so to qualify would
not reasonably be expected to have a Material Adverse Effect, and (d) has the entity level power and authority to execute, deliver and
perform its obligations under this Agreement to which it is or will be a party and to borrow and otherwise obtain credit hereunder.

 

SECTION 3.02.Authorization.
The execution, delivery and performance by the Borrower of this Agreement and the borrowings hereunder (a) have been duly authorized by
all corporate, partnership, limited liability company action or similar action required to be obtained by the Borrower and (b) will not
(1) violate (A) any material provision of law, statute, rule or regulation applicable to the Borrower, (B) the certificate or articles
of incorporation or formation or other constitutive documents (including any partnership, limited liability company or operating agreements
or by-laws) of the Borrower, (C) any applicable order of any court or any rule, regulation or order of any Governmental Authority applicable
to the Borrower or (D) any provision of any indenture, material agreement or other material instrument to which the Borrower is a party
or by which any of them or any of their property is or may be bound or (2) result in a breach of or constitute (alone or with due notice
or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation
(including any payment) under such indenture, material agreement or other material instrument, where any such conflict, violation or breach
or default referred to in

 

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clause (1) or (2) of this Section
3.02(b) would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

SECTION 3.03.Enforceability.
This Agreement has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower
enforceable against the Borrower in accordance with its terms, subject to (a) the effects of bankruptcy, insolvency, moratorium, reorganization,
fraudulent conveyance or other similar laws affecting creditors’ rights generally, (b) general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law), (c) implied covenants of good faith and fair dealing
and (d) the Legal Reservations.

 

SECTION 3.04.Governmental
Approvals. No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or
will be required for the execution, delivery or performance of this Agreement, except for (a) such as have been made or obtained and are
in full force and effect and (b) such actions, consents and approvals the failure of which to be obtained or made would not reasonably
be expected to have a Material Adverse Effect.

 

SECTION 3.05.Use of Proceeds.
The Borrower will use the proceeds of the Loans as described in the preliminary statement to this Agreement.

 

SECTION 3.06.Compliance
with Laws. (a) None of the Borrower, its subsidiaries or their respective properties or assets is in violation of (nor will the continued
operation of their material properties and assets as currently conducted violate) any law, rule or regulation (including any zoning, building,
ordinance, code or approval or any building permit), or is in default with respect to any judgment, writ, injunction or decree of any
Governmental Authority, where such violation or default would reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

 

(b)       Each
of the Borrower and each of its Subsidiaries is in compliance in all material respects with the material provisions of the USA PATRIOT
Act (to the extent applicable) and all material applicable laws and regulations related to anti-money laundering and anti-terrorism.

 

(c)       None
of the Borrower or any of its Subsidiaries is (i) currently the target of any sanctions administered by the Office of Foreign Assets Control
of the U.S. Treasury Department (“OFAC”) or the U.S. State Department, the European Union or relevant member states
of the European Union, the United Nations Security Council or His Majesty’s Treasury (“Sanctions”) or located,
organized or resident in a country or territory that is the target of Sanctions broadly prohibiting dealings with such country or territory
(“Sanctioned Country”). The Borrower will not directly or indirectly use the proceeds of the Loans or otherwise make
available such proceeds or to any person, for the purpose of financing the activities of any person that is, at the time of such financing,
the target of any Sanctions or for the purpose of funding, financing or facilitating any activities, business or transaction with or in
any Sanctioned Country or in any manner that would result in the violation of any Sanctions Laws and regulations administered by the United
States, including OFAC and the U.S. State Department (collectively, the

 

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“Sanctions Laws”)
applicable to any party hereto. The Borrower and each of its Subsidiaries are in compliance with all applicable Sanctions Laws in all
material respects.

 

(d)       The
Borrower and its Subsidiaries are in compliance with the U.S. Foreign Corrupt Practices Act of 1977 and similar laws of all jurisdictions
in which the Borrower or any of its Subsidiaries conduct their business and to which they are lawfully subject (“Anti-Corruption
Laws”), in each case, in all material respects. No part of the proceeds of the Loans made hereunder will be used in violation
of any Anti-Corruption Law, including to make any unlawful bribe, influence payment, kickback or other unlawful payment.

 

ARTICLE
IV

Conditions of Lending

 

SECTION 4.01.Agreement
Effectiveness. The effectiveness of this Agreement is subject to the satisfaction of the following conditions:

 

(a)       The
Lenders shall have received from the Borrower a counterpart of this Agreement signed on behalf of the Borrower, and the Borrower shall
have received from the Lenders counterparts of this Agreement signed on behalf of the Lenders.

 

(b)       The
Lenders shall have received such customary documents and certificates in connection with the effectiveness of this Agreement as the Designated
Lender may reasonably request relating to the organization, existence and good standing of the Borrower and the authorization of the Transactions,
all in form and substance reasonably satisfactory to the Designated Lender.

 

(c)       The
Lenders shall have received a written opinion (addressed to the Lenders and dated the Closing Date) of each of (i) Davis Polk & Wardwell
LLP, special New York counsel to the Borrower and (ii) Morris Nichols Arsht & Tunnell LLP, special Delaware counsel to the Borrower,
in each case in form and substance reasonably satisfactory to the Designated Lender.

 

(d)       (i)
The fee set forth in Section 2.04(a) and (ii) all reasonable and documented out-of-pocket expenses of the Lenders (limited, in
the case of legal fees and expenses, to the reasonable and documented out-of-pocket fees, charges and disbursements of Cravath, Swaine
& Moore LLP) incurred in connection with this Agreement shall have been paid by the Borrower.

 

SECTION 4.02.Each Borrowing.
The obligation of the Lenders set forth on Schedule 1 to make any Loan is subject to the satisfaction of the following additional
conditions:

 

(a)       The
Designated Lender shall have received a Borrowing Request therefor at no later than 10:00 a.m., New York City time, five Business Days
prior to the date of such Borrowing.

 

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(b)       The
representations and warranties of the Borrower set forth in Article III shall be true and correct in all material respects on and
as of the date of such Borrowing with the same effect as though made on and as of such date, other than representations and warranties
that relate solely to an earlier date; provided that where such representations and warranties are already qualified by materiality,
such representations and warranties shall be true and correct in all respects as of the date of such Borrowing or such earlier date, as
applicable.

 

(c)       No
Default or Event of Default shall have occurred and be continuing or shall occur from such Loan or from the application of the proceeds
thereof.

 

(d)       In
the case of any borrowing of Term Loans, the fee set forth in Section 2.04(b) shall have been paid by the Borrower.

 

Each Borrowing shall be deemed
to constitute a representation and warranty by the Borrower on the date of such Borrowing that the conditions specified in Sections 4.02(b)
and 4.02(c) have been satisfied.

 

ARTICLE
V

Covenants

 

The Borrower covenants and agrees
with the Lenders that, so long as this Agreement shall remain in effect and until all Commitments hereunder have expired or been terminated
and the principal of and interest on each Loan and all expenses or other amounts payable under this Agreement (other than, to the extent
no claim has been made therefor, contingent indemnification and contingent expense reimbursement obligations) have been paid in full,
unless the Designated Lender shall otherwise consent in writing, the Borrower will, and will cause or permit its Subsidiaries to:

 

SECTION 5.01.Existence.
Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except, in the case
of a Subsidiary of the Borrower, where the failure to do so would not reasonably be expected to have a Material Adverse Effect, and except
for the liquidation or dissolution of Subsidiaries if the assets of such Subsidiaries to the extent they exceed estimated liabilities
are acquired by the Borrower or a Subsidiary of the Borrower in such liquidation or dissolution.

 

SECTION 5.02.Notice of
Default. Furnish to the Designated Lender written notice promptly after any Responsible Officer of the Borrower obtains actual knowledge
of any Default or Event of Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken with
respect thereto.

 

SECTION 5.03.Compliance
with Laws. (a) Comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property,
except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse
Effect and (b) subject to Section 3.06(c), comply with the USA PATRIOT Act (as applicable) and all applicable laws and

 

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regulations related to anti-money
laundering and anti-terrorism, applicable Sanctions Laws, and Anti-Corruption Laws in all material respects.

 

ARTICLE
VI

Events of Default

 

SECTION 6.01.Events of
Default. In case any of the following events, as applicable to the Borrower and its Material Subsidiaries (each, an “Event
of Default”):

 

(a)       any
representation or warranty made or deemed made by the Borrower or any Subsidiary herein or any certificate or document delivered pursuant
hereto shall prove to have been false or misleading in any material respect when so made or deemed made and such false or misleading representation
or warranty (if curable) shall remain false or misleading for a period of 30 days after the earlier of (i) notice thereof from the
Designated Lender to the Borrower and (ii) a Responsible Officer of the Borrower having obtained knowledge thereof;

 

(b)       default
shall be made in the payment of any principal of any Loan when and as the same shall become due and payable, whether at the due date thereof
or at a date fixed for prepayment thereof or by acceleration thereof or otherwise;

 

(c)       default
shall be made in the payment of any interest on any Loan or any fee or other amount (other than an amount referred to in clause (b) above)
due under this Agreement, when and as the same shall become due and payable, and such default shall continue unremedied for a period of
five Business Days;

 

(d)       default
shall be made in the due observance or performance by the Borrower of any covenant, condition or agreement contained in Sections 5.01
(solely with respect to the Borrower) or 5.02;

 

(e)       default
shall be made in the due observance or performance by the Borrower or any of its Subsidiaries of any covenant, condition or agreement
contained in this Agreement (other than those specified in clauses (b), (c) and (d) above) and such default shall continue unremedied
for a period of 30 days after the earlier of (i) notice thereof from the Designated Lender to the Borrower and (ii) a Responsible Officer
of the Borrower having obtained knowledge thereof;

 

(f)       the
Borrower shall fail to observe or perform any agreement or condition relating to any Material Indebtedness that (A) results in any Material
Indebtedness becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired)
the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness,
as applicable, to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that (x) this clause (f) shall not apply to any secured Indebtedness that becomes due as a result of the voluntary sale
or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted under the documents providing for
such Indebtedness and (y) for

 

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the avoidance of doubt, no Default
or Event of Default shall result hereunder as a result of any failure, breach or default that would have otherwise occurred under clauses
(A) or (B) but for any notice period or grace period while such notice or grace period remains in effect; provided that the failure
to observe or perform the Financial Covenant (as defined in the Existing Credit Agreement) shall not in and of itself constitute an Event
of Default hereunder unless the Required Revolving Facility Lenders (under and as defined in the Existing Credit Agreement) have terminated
the revolving facility commitment thereunder and have accelerated any revolving facility loans then outstanding thereunder as a result
of such breach (and such termination or acceleration shall not have been rescinded);

 

(g)       an
involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (i) relief
in respect of the Borrower or any Material Subsidiary, or of a substantial part of the property or assets of the Borrower, under Title
11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency,
moratorium, judicial management, receivership or similar law, (ii) the appointment of a receiver, liquidator, administrative receiver,
compulsory manager, receiver and manager, administrator, judicial manager, provisional liquidator, trustee, custodian, sequestrator, conservator
or similar officer or official for the Borrower or for a substantial part of the property or assets of the Borrower or (iii) the winding-up
or liquidation of the Borrower; and such proceeding or petition shall continue undismissed for thirty (30) days or an order or decree
approving or ordering any of the foregoing shall be entered;

 

(h)       the
Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of
the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership
or similar law, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing
of any petition described in clause (g) above, (iii) apply for or consent to the appointment of a receiver, insolvency practitioner, judicial
manager, trustee, custodian, sequestrator, conservator or similar official for the Borrower or for a substantial part of the property
or assets of the Borrower or any Material Subsidiary, (iv) file an answer admitting the material allegations of a petition filed against
it in any such proceeding, (v) make a general assignment for the benefit of creditors, (vi) commence any legal proceedings or court procedure
in relation to an insolvency or in relation to any restructuring by way of a scheme of arrangement (for the avoidance of doubt, this shall
not include any solvent reorganization), or (vii) become unable or admit in writing its inability or fail generally to pay its debts as
they become due;

 

(i)       the
Borrower shall fail to pay one or more final monetary judgments in an aggregate amount in excess of the greater of (x) $75,000,000 and
(y) 0.33 times EBITDA calculated on a Pro Forma Basis for the then most recently ended Test Period (to the extent not covered by insurance
and third party indemnities), which judgments are not discharged or effectively waived or stayed for a period of thirty (30) consecutive
days; or

 

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(j)       the
Agreement shall for any reason be asserted in writing by the Borrower not to be a legal, valid and binding obligation of the Borrower
(other than in accordance with its terms);

 

then, and in every such event
(other than an event with respect to the Borrower described in clause (g) or (h) above), and at any time thereafter during the continuance
of such event, the Designated Lender may, by notice to the Borrower, terminate all Commitments to make Loans hereunder and declare the
Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to be due
and payable, together with accrued interest thereon and all other liabilities of the Borrower accrued hereunder, shall become forthwith
due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the
Borrower, anything contained herein to the contrary notwithstanding; and in any event with respect to the Borrower described in clause
(g) or (h) above, all Commitments to make Loans hereunder shall automatically terminate and the principal of the Loans then outstanding,
together with accrued interest thereon and all other liabilities of the Borrower accrued hereunder, shall automatically become due and
payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower,
anything contained herein to the contrary notwithstanding.

 

ARTICLE
VII

Miscellaneous

 

SECTION 7.01.Notices.
(a) Notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service,
mailed by certified or registered mail, as follows:

 

	 	(i)	if to the Borrower, to it (or c/o the Borrower) at:	 
	 	 	Weber-Stephen Products LLC	 
	 	 	1415 S Roselle Road Palatine, Illinois 60067	 
	 	 	Attn: Bill J. Horton	 
	 	 	Attn: Erik W. Chalut	 
	 	 	Email: 	echalut@weber.com and 	 
	 	 	 	bhorton@weberstephen.com	 
	 	with a copy to:	 
	 	 	 
	 	Davis Polk & Wardwell LLP
 450 Lexington Avenue
 New York, NY 10017
 Attention: J.W. Perry
 Email: john.perry@davispolk.com;	 
	 	 	 
	 	and	 

 

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(ii)       if
to any Lender, to the Designated Lender c/o BDT Capital Partners Fund I, L.P., 401 N. Michigan Avenue, Suite 3100 Chicago, IL 60611, Attention:
General Counsel, E-Mail: mtodd@bdtcap.com.

 

(b)       All
notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have
been given on the date of receipt if delivered by hand or overnight courier service or on the date five Business Days after dispatch by
certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this
Section 7.01. As agreed to among the Borrower and the Designated Lender from time to time, notices and other communications
may also be delivered by e-mail to the e-mail address of a representative of the applicable Person provided from time to time by such
Person.

 

(c)       Any
party hereto may change its address or e-mail for notices and other communications hereunder by notice to the other parties hereto in
accordance with the provisions of this Agreement.

 

SECTION 7.02.Survival.
All covenants, agreements, representations and warranties made by the Borrower in this Agreement and in the certificates or other documents
delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the Lenders and shall survive
the making by the Lenders of the Loans, regardless of any investigation made by or on behalf of the Lenders (and regardless of whether
the Borrower is an affiliate of the Lenders and whether the Lenders or any Related Party thereof may have had notice or knowledge of any
Default or incorrect representation or warranty at the time this Agreement is executed and delivered or any Loan is made hereunder) and
shall continue in full force and effect until the latest Maturity Date or, if later, so long as the principal of or any accrued interest
on any Loan or any other amount payable under this Agreement is outstanding (other than, to the extent no claim has been made therefor,
contingent indemnification and contingent expense reimbursement obligations). The provisions of Sections 2.07 and 7.04
shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the
transactions contemplated hereby, the repayment of any of the Loans, the invalidity or unenforceability of any term or provision of this
Agreement, or any investigation made by or on behalf of the Lenders.

 

SECTION 7.03.Successors
and Assigns; No Third Party Beneficiaries; Participations. (a) Neither this Agreement nor any of the interests, rights and obligations
hereunder may be assigned by the Borrower without the prior written consent of the Lenders. Any Lender may assign and delegate to one
or more other Persons all or a portion of its interests, rights and obligations under this Agreement (including all or a portion of the
Commitments set forth in Section 2.01 and any Loans at the time owing to it) without the consent of the Borrower; provided
that, other than if an Event of Default under Section 6.01 (b), (c), (g) or (h) has occurred and is continuing,
the Lenders may not assign Commitments or Loans to any Person that is, at the time of such assignment, a lender under the Existing Credit
Agreement or any of such Person’s Affiliates, in each case, without the prior written consent of the Borrower (not to be unreasonably
withheld,

 

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conditioned or delayed); provided,
further, that the Borrower shall be deemed to have consented to any such assignment if it has not responded within 10 Business
Days after the delivery of any request for such consent. Whenever in this Agreement any of the parties hereto or thereto is referred to,
such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements
by or on behalf of the Borrower or the Lenders that are contained in this Agreement shall bind and inure to the benefit of their respective
permitted successors and assigns. Nothing in this Agreement, expressed or implied, is intended or shall be construed to confer upon any
other creditor of the Borrower or any other Person (other than the parties hereto or thereto, their respective permitted successors and
assigns and, to the extent expressly contemplated hereby, the Related Parties of the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

 

(b)       Any
Lender may, without the consent of the Borrower, sell participations to one or more other Persons (each, a “Participant”)
in all or a portion of such Lender’s interests, rights and obligations under this Agreement (including all or a portion of its Commitments
or the Loans at the time owning to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto or thereto for the performance of such obligations, (iii)
the Borrower shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations
under this Agreement and (iv) other than if an Event of Default under Section 6.01 (b), (c), (g) or (h)
has occurred and is continuing, the Lenders may not sell participations to any Person that is, at the time of such participation, a lender
under the Existing Credit Agreement or any of such Person’s Affiliates, in each case, without the prior written consent of the Borrower
(not to be unreasonably withheld, conditioned or delayed); provided, further, that the Borrower shall be deemed to have
consented to any such participation if it has not responded within 10 Business Days after the delivery of any request for such consent.
Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided
that such agreement or instrument may provide that such Lender will not, without the consent of the relevant Participant, agree to any
amendment, modification or waiver that affects such Participant or requires the approval of all the Lenders. The Borrower agrees that
each Participant shall be entitled to the benefits of Section 2.06 (subject to the requirements and limitations therein) to the
same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 7.03(a); provided that
such Participant shall not be entitled to receive any greater payment under Section 2.06, with respect to any participation, than
its participating Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale
of the participation to such Participant is made with the Borrower’s prior written consent. To the extent permitted by applicable
law, each Participant also shall be entitled to the benefits of Section 7.14 as though it were a Lender. Upon the sale of one or
more participations, the applicable Lender shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which
it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest
in the Loans or other obligations under this Agreement (the “Participant Register”);

 

    23

     

    

provided that no Lender
shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any
information relating to a Participant’s interest in any Loans or its other obligations under this Agreement) to any Person except
to the extent that such disclosure is necessary to establish that such Loan or other obligation is in registered form under Section 5f.103-1(c)
of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and
such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary.

 

(c)       In
the event of an assignment to an assignee that is not an Affiliate of the initial Designated Lender, at the option of the Designated Lender,
the Borrower and the Designated Lender shall enter into an amendment to this Agreement to (i) appoint an administrative agent selected
by the Designated Lender who will act on behalf of the Lenders under this Agreement and to incorporate administrative agent provisions
that are customary for syndicated term loan facilities in the United States, including provisions regarding dissemination of information
by the administrative agent to Lenders through an electronic platform and customary administrative agent fee provisions (including customary
administrative fees and customary processing and recording fees with respect to assignments) and (ii) reflect provisions that are customary
for syndicated term loan facilities in the United States regarding (A) pro rata sharing, (B) “bail-in”, (C) compensation to
Lenders with respect to increased costs and changes in law, (D) defaulting lenders, (E) confidentiality and (F) delivery of “know
your customer” and other customary information or information required by applicable law, and any additional provisions as may be
agreed by the Borrower and the Lenders acting reasonably in good faith (it being understood and agreed that the applicable provisions
of the Existing Credit Agreement as in effect as of the date hereof shall
be deemed to be customary for syndicated term loan facilities in the United States).

 

SECTION 7.04.Expenses;
Indemnity. (a) THE BORROWER AGREES TO PAY ALL REASONABLE AND DOCUMENTED OUT-OF-POCKET EXPENSES INCURRED BY ANY LENDER IN CONNECTION
WITH THE FACILITY ESTABLISHED HEREUNDER AND THE PREPARATION, EXECUTION, DELIVERY AND ADMINISTRATION OF THIS AGREEMENT OR IN CONNECTION
WITH ANY AMENDMENTS, MODIFICATIONS OR WAIVERS OF THE PROVISIONS HEREOF OR THEREOF (WHETHER OR NOT THE TRANSACTIONS CONTEMPLATED BY SUCH
AMENDMENTS, MODIFICATIONS OR WAIVERS SHALL BE CONSUMMATED), INCLUDING REASONABLE FEES, DISBURSEMENTS AND OTHER CHARGES OF A SINGLE COUNSEL
FOR ALL LENDERS, AND ALL THE ACTUAL COSTS AND REASONABLE DOCUMENTED EXPENSES INCURRED BY ANY LENDER IN CONNECTION WITH THE ENFORCEMENT
OR PROTECTION OF ITS RIGHTS IN CONNECTION WITH THIS AGREEMENT OR IN CONNECTION WITH THE LOANS MADE HEREUNDER, INCLUDING THE FEES, CHARGES
AND DISBURSEMENTS OF A SINGLE COUNSEL FOR ALL LENDERS WHICH MAY BE CRAVATH, SWAINE & MOORE LLP AND, IN CONNECTION WITH ANY

 

    24

     

    

SUCH ENFORCEMENT OR PROTECTION,
THE FEES, CHARGES AND DISBURSEMENTS OF ANY OTHER COUNSEL FOR ANY LENDER.

 

(b)       THE
BORROWER AGREES TO INDEMNIFY EACH LENDER AND ITS RELATED PARTIES (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST,
AND TO HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES (INCLUDING THE FEES,
CHARGES AND DISBURSEMENTS OF A SINGLE COUNSEL WHICH MAY BE CRAVATH, SWAINE & MOORE LLP) (and,
in the case of an actual conflict of interest where ANY personS affected by such conflict inform the Borrower of such conflict and thereafter
retain A SINGLE counsel, of another firm of counsel for ALL such affected personS COLLECTIVELY) INCURRED IN RESPECT OF THE ENTERING
INTO AND/OR PERFORMANCE OF THIS AGREEMENT OR THE USE OF THE PROCEEDS OF ANY LOANS HEREUNDER OR THE CONSUMMATION OF ANY TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT (REGARDLESS OF WHETHER SUCH MATTER IS INITIATED BY A THIRD PARTY OR BY THE BORROWER OR ANY OF ITS AFFILIATES); PROVIDED
THAT ANY SUCH INDEMNITY UNDER THIS SECTION 7.04(b) SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES,
CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT
(X) TO HAVE RESULTED FROM THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE OR ANY OF ITS RELATED PARTIES (IT BEING
AGREED THAT FOR PURPOSES OF THIS CLAUSE (X) NO RELATED PARTY OF ANY GROUP MEMBER SHALL BE DEEMED TO BE A RELATED PARTY OF ANY LENDER OR
OF ANY RELATED PARTIES OF ANY LENDER); OR (Y) TO HAVE RESULTED FROM A DISPUTE SOLELY BETWEEN THE INDEMNITEES AND NOT FROM AN ACT OR OMISSION
BY THE BORROWER OR ANY OF ITS AFFILIATES. THIS SECTION 7.04(b) SHALL NOT APPLY TO TAXES.

 

(c)       TO
THE EXTENT PERMITTED BY APPLICABLE LAW, NO PARTY HERETO SHALL ASSERT, AND EACH PARTY HERETO HEREBY WAIVES, ANY CLAIM AGAINST ANY OTHER
PARTY TO THIS AGREEMENT OR ANY RELATED PARTIES OR AFFILIATES OF SUCH PARTY ON ANY THEORY OF LIABILITY, FOR SPECIAL, INDIRECT, CONSEQUENTIAL
OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES) ARISING OUT OF, IN CONNECTION WITH OR AS A RESULT OF THIS AGREEMENT OR ANY
AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY, THE TRANSACTIONS, ANY LOAN OR THE USE OF THE PROCEEDS THEREOF.

 

(d)       THE
PROVISIONS OF THIS SECTION 7.04 SHALL REMAIN OPERATIVE AND IN FULL FORCE AND EFFECT REGARDLESS OF THE EXPIRATION OF THE TERM
OF THIS AGREEMENT, THE CONSUMMATION OF

 

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THE TRANSACTIONS CONTEMPLATED
HEREBY, THE REPAYMENT OF ANY OF THE LOANS, THE INVALIDITY OR UNENFORCEABILITY OF ANY TERM OR PROVISION OF THIS AGREEMENT, OR ANY INVESTIGATION
MADE BY OR ON BEHALF OF ANY LENDER (AND REGARDLESS OF WHETHER THE BORROWER IS AN AFFILIATE OF SUCH LENDER AND WHETHER SUCH LENDER OR ANY
RELATED PARTY THEREOF MAY HAVE HAD NOTICE OR KNOWLEDGE OF ANY DEFAULT OR INCORRECT REPRESENTATION OR WARRANTY AT THE TIME THIS AGREEMENT
IS EXECUTED AND DELIVERED OR ANY LOAN IS MADE HEREUNDER). ALL AMOUNTS DUE UNDER THIS SECTION 7.04 SHALL BE PAYABLE PROMPTLY
FOLLOWING WRITTEN DEMAND THEREFOR.

 

SECTION 7.05.Applicable
Law. THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON,
ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER, INCLUDING BUT NOT LIMITED TO THE
VALIDITY, INTERPRETATION, CONSTRUCTION, BREACH, ENFORCEMENT OR TERMINATION HEREOF AND THEREOF, AND WHETHER ARISING IN CONTRACT OR TORT
OR OTHERWISE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS
OF LAWS THEREOF (OTHER THAN NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401 AND SECTION 5-1402).

 

SECTION 7.06.Waivers;
Amendments. (a) No failure or delay by any Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right
or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Lenders
hereunder are cumulative and are not exclusive of any rights or remedies that it would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by
Section 7.06(b), and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the execution and delivery of this Agreement or the making of any Loan shall
not be construed as a waiver of any Default or Event of Default, regardless of whether any Lender or any of its Related Parties may have
had notice or knowledge of such Default or Event of Default at the time. No notice or demand on the Borrower in any case shall entitle
the Borrower to any other or further notice or demand in similar or other circumstances.

 

(b)       Neither
this Agreement nor any provision hereof or thereof may be waived, amended or modified (i) except as provided in Section 7.03(c)
or (ii) pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders; provided, however, that
no such agreement shall:

 

    26

     

    

(i)       decrease
or forgive the principal amount of, or extend the final maturity of, or decrease the rate of interest on, any Loan, without the prior
written consent of each Lender directly adversely affected thereby (which, notwithstanding the foregoing, such consent of such Lender
directly adversely affected thereby shall be the only consent required hereunder to make such modification); provided that no waiver
or modification of any Default or Event of Default (or of any obligation of the Borrower to pay interest at the default rate of interest
under Section 2.03(b)) shall constitute a reduction in the rate of interest for purposes of this clause (i),

 

(ii)       increase
or extend any Commitment of any Lender, or decrease any fees of any Lender without the prior written consent of such Lender (which, notwithstanding
the foregoing, such consent of such Lender shall be the only consent required hereunder to make such modification),

 

(iii)       extend
any date on which payment of interest on any Loan or any fee is due, without the prior written consent of each Lender directly adversely
affected thereby (which, notwithstanding the foregoing, such consent of such Lender directly adversely affected thereby shall be the only
consent required hereunder to make such modification); provided that no waiver or modification of any Default or Event of Default
(or of any obligation of the Borrower to pay interest at the default rate of interest under Section 2.03(b)) shall constitute an
extension of such date for purposes of this clause (iii),

 

(iv)       only
in the event this Agreement is amended pursuant to Section 7.03(c), (A) amend the provisions of this Agreement in a manner that
would alter the pro-rata sharing of payments required thereby as in effect on the date this Agreement is amended pursuant to Section 7.03(c)
or (B) amend any other provision of this Agreement that would directly result in the matters described in clause (A) above, in each case
without the written consent of each Lender,

 

(v)       amend
or modify the provisions of this Section 7.06 or the definition of the term “Required Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination
or grant any consent hereunder, without the prior written consent of each Lender adversely affected thereby, in each case except, for
the avoidance of doubt, as otherwise provided in Section 7.06(c), or

 

(vi)       subordinate
the payment priority of any Loans to the obligations under any other Indebtedness for borrowed money without the prior written consent
of each Lender directly and adversely affected thereby.

 

(c)       Notwithstanding
the foregoing, (i) technical and conforming modifications to this Agreement may be made with the consent of the Borrower and the Designated
Lender (but without the consent of any Lender) to the extent necessary to

 

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cure any ambiguity, mistake,
omission, defect or inconsistency and (ii) any amendment, waiver or modification of any term or provision of this Agreement that by its
terms directly affects Lenders under one Class and does not directly and adversely affect Lenders under any other Class may be effected
by an agreement or agreements in writing entered into by the Borrower and the requisite number or percentage in interest of such affected
Class of Lenders that would be required to consent thereto under Section 7.06(b) if such Class of Lenders were the only Class
of Lenders hereunder at the time.

 

SECTION 7.07.Entire Agreement.
This Agreement constitutes the entire contract among the parties hereto relative to the subject matter hereof. Any other previous agreement
among the parties hereto with respect to the subject matter hereof is superseded by this Agreement.

 

SECTION 7.08.WAIVER OF
JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO
(A) CERTIFIES THAT 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 AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.08.

 

SECTION 7.09.Severability.
In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby
(it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the
validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal
or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

 

SECTION 7.10.Counterparts.
This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute
an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement
by facsimile or other customary means of transmission (e.g., “PDF”) shall be as effective as delivery of a manually signed
counterpart of this Agreement. The words “execution”, “signed”, “signature”, “delivery”
and words of like import in or relating to this Agreement and/or any document to be signed in connection with this Agreement and the transactions
contemplated hereby shall be deemed to include Electronic Signatures (as defined below), deliveries or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical

 

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delivery thereof or the use
of a paper-based recordkeeping system, as the case may be. As used herein, “Electronic Signatures” means any electronic
symbol or process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate
or accept such contract or record.

 

SECTION 7.11.Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement
and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.

 

SECTION 7.12.Jurisdiction;
Consent to Service of Process. (a) Each party to this Agreement hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in the
Borough of Manhattan, New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating
to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally
agrees that all claims in respect of any such action or proceeding may be heard and determined exclusively in such New York State
or, to the extent permitted by Law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by
Law. Notwithstanding the foregoing, nothing in this Agreement shall affect any right that any Lender may otherwise have to bring any action
or proceeding relating to this Agreement against the Borrower or any of its properties in the courts of any jurisdiction in connection
with any pending bankruptcy, insolvency or similar proceeding in such jurisdiction.

 

(b)       Each
party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement in any New York State or Federal court sitting in the Borough of Manhattan, New York City. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the maintenance of such action
or proceeding in any such court.

 

(c)       Each
party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 7.01. Nothing
in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Law.

 

SECTION 7.13.Certain
Acknowledgements. The parties hereto acknowledge that each Lender, when acting under this Agreement, will be acting for its own account
as principal and will be under no obligation or duty as a result of such Lender’s relationship with the Borrower and the other Group
Members or otherwise to take any action or refrain from taking any action (including refraining from exercising any right or remedy that
might be available to it).

 

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SECTION 7.14.Right of
Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each Affiliate of any Lender is hereby authorized
at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all amounts at any
time held and other obligations (in any currency) at any time owing by such Lender or Affiliate to or for the credit or the account the
Borrower against any of and all the obligations then due of the Borrower now or hereafter existing under this Agreement, irrespective
of whether or not such Lender shall have made any demand under this Agreement. The rights of each Lender and each Affiliate of any Lender
under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender or Affiliate
may have. Each Lender agrees to notify the Borrower promptly after any such setoff and application; provided that the failure to
give or any delay in giving such notice shall not affect the validity of such setoff and application.

 

[Signature pages follow.]

 

    30

     

    

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.

 

	 	WEBER-STEPHEN PRODUCTS LLC, as Borrower	 
	 	 	 
	 	 	 
	 	By	 
	 	 	/s/ William J. Horton	 
	 	 	Name: William J. Horton	 
	 	 	Title:Chief Financial Officer	 
	 	 	 	 
	 	 	 	 

	 	Ribeye Parent, LLC, as Designated Lender and as a Lender	 
	 	 	 
	 	 	 
	 	By	 
	 	 	/s/ Mary Ann Todd	 
	 	 	Name: Mary Ann Todd	 
	 	 	Title:General Counsel & Secretary	 

    

     

    

SCHEDULE 1

 

	Lender	Revolving Credit Commitment
	Ribeye Parent, LLC	$230,000,000
	Total	$230,000,000

 

	Lender	Term Commitment
	Ribeye Parent, LLC	$120,000,000
	Total	$120,000,000

    

     

    

EXHIBIT A

to

Loan Agreement

 

[FORM OF]

Borrowing request

 

[_____], 20[__]

 

To:[●]

 

Ladies and Gentlemen:

 

Reference is made to the Loan Agreement dated
as of December 11, 2022 (as amended, supplemented or otherwise modified from time to time, the “Loan Agreement”), among
Weber-Stephen Products LLC (the “Borrower”) and the lenders referred to therein (the “Lenders”).
Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Loan Agreement.

 

The Borrower hereby requests a Borrowing of [Revolving/Term] Loans:

 

1.       On _______________, 20__
(which is a Business Day).

 

2.       In the amount of $__________.

 

The Borrower hereby directs the Lenders to wire
the proceeds of the Loans made on the specified date to the following account:

 

Recipient:__________

 

Destination Bank:__________

 

ABA Number:__________

 

Account Number:__________

 

Reference:__________

 

The Borrower hereby represents and warrants that,
at the time of and immediately after such Borrowing:

 

(a)       the
representations and warranties of the Borrower set forth in Article III of the Loan Agreement are true and correct in all material
respects on and as of the date of such Borrowing with the same effect as though made on and as of such date, other than representations
and warranties that relate solely to an earlier date; provided that where such representations and warranties are already qualified
by materiality, such representations and warranties shall be true and correct in all respects as of the date of such Borrowing or such
earlier date, as applicable.

 

(b)       No
Default or Event of Default has occurred and is continuing or shall occur from such Loan or from the application of the proceeds thereof.

 

 

	 	

weber-STEPHEN PRODUCTS LLC, as Borrower	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:

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