Document:

Exhibit 10.4

 

EXECUTION VERSION

 

FORM OF LOCK-UP AGREEMENT

 

This Lock-Up Agreement (this “Agreement”)
is made as of March 16, 2021 by and among eToro Group Ltd., a company organized under the laws of the British Virgin Islands (the
“Company”), each of the parties listed on Schedule
I hereto (each, an “eToro Equity Holder”
and collectively, the “eToro Equity Holders”), FinTech Investor Holdings V, LLC, a Delaware limited liability
company (“FinTech Investor”), and FinTech Masala Advisors V, LLC, a Delaware limited liability company (“FinTech
Masala” and, together with FinTech Investor, the “Sponsors,” and together with the eToro Equity Holders,
collectively, the “Holders”).

 

WHEREAS, prior to the execution of this
Agreement, the Company, Buttonwood Merger Sub Corp., a Delaware corporation and a direct, wholly-owned subsidiary of the Company
(“Merger Sub”), and FinTech Acquisition Corp.
V, a Delaware corporation (“SPAC”), have entered into an Agreement and Plan of Merger (as the same may be amended
from time to time, the “Merger Agreement”),
pursuant to which, among other things, on the terms and subject to the conditions set forth therein, at the Effective Time, Merger
Sub will merge with and into SPAC, with SPAC surviving as a direct, wholly-owned subsidiary of the Company (the “Merger”);

 

WHEREAS, as of the date of this Agreement,
the Sponsors collectively hold (i) 8,546,667 shares of SPAC Class B Stock (the “Sponsor Class B Shares”)
and (ii) 640,000 SPAC Private Units purchased in a private placement concurrently with SPAC’s initial public offering, consisting
of 640,000 shares of SPAC Class A Stock (the “Sponsor Class A Shares” and together with the Sponsor Class B
Shares, the “Sponsor Shares”) and Private Placement Warrants to purchase 213,333 shares of SPAC Class A Stock
in the aggregate; and

 

WHEREAS, pursuant to the Merger Agreement,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
desire to enter into this Agreement, pursuant to which the Lock-Up Shares (as defined below) that are held by the Holders shall
become subject to limitations on disposition as set forth herein.

 

NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged,
the parties hereto agree as follows:

 

Section 1. Definitions.
Capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Merger Agreement.

 

(a) “Insider
Letter” means that certain letter agreement, dated as of December 3, 2020, among SPAC, the Sponsors and the Insiders
(as such term is defined therein).

 

(b) “Liquidation
Event” means a liquidation, merger, capital stock exchange, reorganization, sale of all or substantially all assets or
other similar transaction involving the Company upon the consummation of which holders of Company Common Shares would be entitled
to exchange their Company Common Shares for cash, securities or other property.

 

     

     

    

 

(c) “Lock-Up
Period” means (i) with respect to the eToro Equity Holders, the period beginning on the Closing Date and ending on the
earlier of (A) the date that is one hundred and eighty (180) days following the Closing Date and (B) the date on which the Stock
Price equals or exceeds $12.50 for any 20 Trading Days within any 30 consecutive Trading Day period commencing on the Closing Date
and (ii) with respect to the Sponsor Holders, the period beginning on the Closing Date and ending on the earlier of (A) the date
that is one (1) year following the Closing Date and (B) the date on which the Stock Price equals or exceeds $12.50 for any 20 Trading
Days within any 30 consecutive Trading Day period; provided, however that the Lock-Up Period applicable to the Sponsors
shall not be lifted pursuant to this clause (ii)(B) prior to the date that is one hundred and eighty (180) days following the Closing
Date.

 

(d) “Lock-Up
Shares” means (i) with respect to the eToro Equity Holders, the Company Common Shares held by such eToro Equity Holders
as of immediately following the Stock Split and prior to the Pre-PIPE Conversion and (ii) with respect to the Sponsor Holders,
the Company Common Shares issuable to the Sponsors as Merger Consideration in respect of the Sponsor Shares.

 

(e) “Permitted
Transferee” means (subject to compliance with Section 2(b)): (i) the members of Holder’s immediate family
(for purposes of this Agreement, “immediate family” shall mean with respect to any natural person, any of the following:
such person’s spouse or domestic partner, the siblings of such person and his or her spouse or domestic partner, and the
direct descendants and ascendants (including adopted and step children and parents) of such person and his or her spouses or domestic
partners and siblings), (ii) any entities controlled by, controlling or under common control with such Holder, (iii) any trust
for the direct or indirect benefit of Holder or the immediate family of Holder, (iv) if Holder is a trust, the trustor or beneficiary
of such trust or to the estate of a beneficiary of such trust, (v) if Holder is an entity, any direct or indirect partners, members
or equity holders of Holder, any affiliate (as defined in Rule 405 promulgated under the Securities Act) of Holder or any related
investment funds or vehicles controlled or managed by such persons or entities or their respective affiliates (for the avoidance
of doubt, a managed account managed by the same investment manager of any member of either Sponsor shall be deemed an affiliate
of such member), or (vi), to the extent not already permitted pursuant to the preceding clauses (i) through (v), to any Person
described in clauses 2(a) through 2(f), 2(h) or 2(k) of Section 3(d) of the Insider Letter.

 

(f) “Sponsor
Class A Lock-Up Shares” means Sponsor Lock-Up Shares that were issued to Sponsors in the Merger in respect of the Sponsor
Class A Shares.

 

(g) “Sponsor
Closing Date Hypothetical Tax Liability” means the result of (A) (i) 36.5% multiplied by (ii) the result of (x) the
number of Sponsor Lock-Up Shares held by Sponsor Holders on the Closing Date after giving effect to the Closing (other than, if
the Closing occurs on or prior to December 3, 2021, the Sponsor Class A Lock-Up Shares) multiplied by the Stock Price on the Closing
Date, minus (y) if the Closing occurs after December 3, 2021, $6,400,000, plus, if the closing occurs on or before December 3,
2021, (B) (i) 53.5% multiplied by (ii) the result of (x) the number of Sponsor Class A Lock-Up Shares held by Sponsor Holders
on the Closing Date after giving effect to the Closing multiplied by the Stock Price on the Closing Date, minus (y) $6,400,000.

 

    2

     

    

 

(h) “Sponsor
Release Date Hypothetical Tax Liability” means (i) the result of (A) 53.5% multiplied by (B) the result of (x) the number
of Sponsor Lock-Up Shares being released from restrictions on transfer under this Agreement on the Sponsor Early Release Date (which
the parties acknowledge requires an iterative calculation) multiplied by (y) the positive difference between the Stock Price on
the Trading Day immediately preceding the Sponsor Early Release Date and the Stock Price on the Closing Date, or (B) zero ($0.00),
if the Stock Price on the Trading Day immediately preceding the Sponsor Early Release Date is less than or equal to the Stock Price
on the Closing Date.

 

(i) “Sponsor
Early Release Date” means (i) if the Closing Date occurs on or prior to November 30, 2021, December 1, 2021; or (ii)
if the Closing Date occurs during the month of December 2021, the close of the Trading Day on the Closing Date, or (iii) if the
Closing Date occurs after December 31, 2021, June 30, 2022.

 

(j) “Sponsor
Early Release Shares” means the number of Sponsor Lock-Up Shares equal to (i) the Sponsor Closing Date Hypothetical Tax
Liability plus the Sponsor Release Date Hypothetical Tax Liability (if any), divided by (ii) the Stock Price on the Trading Day
immediately preceding the Sponsor Early Release Date.

 

(k) “Sponsor
Holder” means each Sponsor and its Permitted Transferees.

 

(l) “Sponsor
Lock-Up Shares” means the Lock-Up Shares of each Sponsor Holder; provided that, solely for purposes of Section
2(a)(ii) (of this Agreement) and Section 1.2(b)(iv) of the Surrender and Restriction Agreement, the term “Sponsor Lock-Up
Shares” shall exclude any Restricted Shares (as defined in the Surrender and Restriction Agreement).

 

(m) “Stock
Price” means, on any Trading Day on or after the Closing Date, the closing sale price per Company Common Share reported
as of 4:00 p.m., New York, New York time on such Trading Day, as reported by Bloomberg L.P. (or, if not reported therein, in another
authoritative source mutually selected by the Holders holding a majority of the Lock-Up Shares and the Company).

 

(n) “Trading
Day” means any day on which Company Common Shares are tradeable on the principal securities exchange or securities market
on which Company Common Shares are then traded.

 

(o) “Transfer”
means, directly or indirectly, the (i) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation, pledge,
grant of any option to purchase or other disposition of or agreement to dispose of 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, Lock-Up Shares, (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, or any other derivative transaction with respect to, Lock-Up Shares, 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).

 

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Section 2. Lock-Up.

 

(a) Subject
to Section 2(b), each Holder, severally (and not jointly and severally), hereby agrees that such Holder shall not Transfer
any Lock-Up Shares or any instruments exercisable or exchangeable for, or convertible into, such Lock-Up Shares until the end of
the Lock-Up Period; provided, however, that the lock-up restriction set forth in this Section 2(a) shall not
apply to:

 

(i) a
Transfer of any Lock-Up Shares held by any Sponsor Holder if the Company notifies such Sponsor Holder in writing that the Company
has determined to release the lock-up restriction imposed on such Sponsor Holder prior to expiration of the applicable Lock-Up
Period; or

 

(ii) if
the Sponsor delivers the notice in accordance with Section 2(g), a number of Sponsor Early Release Shares equal to the product
of (A) the Sponsor Early Release Shares and (B) a fraction, the numerator of which is the number of Sponsor Lock-Up Shares, and
the denominator of which is the sum of the number of Sponsor Lock-Up Shares and the number of Restricted Shares (with the number
of Sponsor Early Release Shares released from restriction hereunder being allocated among the Sponsor Holders in such manner as
is elected in a writing delivered to the Company by FinTech Masala; provided that if no such election is made prior to the
Sponsor Early Release Date, then such allocation shall be pro rata among the Sponsor Holders based on the number of Sponsor
Lock-Up Shares held by each Sponsor Holder); provided, further that in no event shall the number of shares released
under this clause (ii) exceed the number of Sponsor Lock-Up Shares.

 

(b) Notwithstanding
anything to the contrary set forth in this Agreement, the lock-up restrictions set forth in Section 2(a) shall not apply
to a Transfer of any or all of the Lock-Up Shares held by a Holder (i) to any Permitted Transferee of such Holder, (ii) by will
or intestate succession upon the death of such Holder, (iii) by operation of law or pursuant to a court order, such as a qualified
domestic relations order, divorce decree or separation agreement, or (iv) in connection with a Liquidation Event; provided,
that in the case of clauses (i), (ii) or (iii), it shall be a condition to such Transfer that the transferee executes and delivers
to the Company a joinder agreement, duly executed by such transferee and substantially in the form attached hereto as Exhibit
A, stating, among other things, that such transferee shall receive and hold the Lock-Up Shares subject to the provisions of
this Agreement applicable to the transferring Holder, and there shall be no further Transfer of such Lock-Up Shares except in accordance
with the terms of this Agreement.

 

(c) If
any Transfer is made or attempted in violation of or contrary to the terms of this Agreement (a “Prohibited Transfer”),
such purported Prohibited Transfer shall be null and void ab initio, and the Company shall refuse to recognize any such
purported transferee of the Lock-Up Shares as one of the Company’s equity holders for any purpose. In order to enforce this
Section 2(c), the Company may impose stop-transfer instructions
with respect to the Lock-Up Shares of a transferring Holder until the end of the Lock-Up Period, except in compliance with the
restrictions set forth in this Agreement.

 

    4

     

    

 

(d) If,
between the Closing and a Liquidation Event, the outstanding Company Common Shares shall have been changed into a different number
of shares or a different class, by reason of any stock dividend, subdivision, reclassification, recapitalization, split, combination
or exchange of shares, or any similar transaction affecting the outstanding Company Common Shares, then any number, value (including
dollar value) or amount contained herein which is based upon the number of Company Common Shares will be equitably adjusted for
such dividend, subdivision, reclassification, recapitalization, split, combination or exchange of shares, or any similar transaction.
Any adjustment under this Section 2(d) shall become effective at the date and time that such stock dividend, subdivision,
reclassification, recapitalization, split, combination or exchange of shares, or any similar transaction became effective. For
the avoidance of doubt, no change of units or shares pursuant to the transactions contemplated by the Merger Agreement (including
the automatic exercise of any Price Adjustment Rights) shall constitute a stock dividend, subdivision, reclassification, recapitalization,
split, combination or exchange of shares, or similar transaction requiring an equitable adjustment.

 

(e) The
restrictions set forth in this Agreement shall not limit the rights of a Holder to exercise such Holder’s rights as a stockholder
of the Company during the Lock-Up Period, including the right to vote any Lock-Up Shares.

 

(f) Each
of the Sponsors and the Company acknowledge that, in addition to the lock-up restrictions in Section 2(a), certain of the
Sponsor Lock-Up Shares are subject to certain additional transfer restrictions as set forth in the Sponsor Share Surrender and
Share Restriction Agreement, dated as of the date hereof, by and among the Company and the Sponsors (the “Surrender and
Restriction Agreement”). Promptly upon the expiration or termination of the Lock-Up Period with respect to any Lock-Up
Shares (taking into account restrictions under the Surrender and Restriction Agreement), the Company will promptly cause any restrictive
legends to be removed from the certificates evidencing such Lock-Up Shares, including by promptly delivering such instructions
letters, opinions and other information and deliveries in respect thereof as may be requested by the Company’s transfer agent.

 

(g) On
or prior to the Sponsor Early Release Date, FinTech Masala may cause the Sponsor Early Release Shares to be released from the transfer
restrictions pursuant to this Agreement by delivering to the Company, on behalf of the Sponsor Holders, a written notice requesting
such release, the delivery of which shall constitute the confirmation of the Sponsor Holders that there is a legitimate business
purpose in connection with the Merger in respect of such release.

 

Section 3. 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, in the event that the Merger
Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the
parties hereunder shall automatically terminate and be of no further force or effect. If the Closing takes place, the provisions
of this Agreement, other than this Section 3 and Section 8, shall terminate and be of no further force or effect
upon the first to occur of (i) the five (5) year anniversary of the Closing Date, (ii) the date of a Liquidation Event and (iii)
the date that all of the Lock-Up Shares are no longer subject to the lock-up restrictions set forth in Section 2(a).

 

    5

     

    

 

Section 4. Specific
Enforcement. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were otherwise breached. The parties further agree that
each party shall be entitled to seek specific performance of the terms hereof and immediate injunctive relief and other equitable
relief to prevent breaches, or threatened breaches, of this Agreement, without the necessity of proving the inadequacy of money
damages as a remedy and without bond or other security being required, this being in addition to any other remedy to which they
are entitled at law or in equity. Each party hereby acknowledges and agrees that it may be difficult to prove damages with reasonable
certainty, that it may be difficult to procure suitable substitute performance, and that injunctive relief and/or specific performance
will not cause an undue hardship to the parties. Each party hereby further acknowledges that the existence of any other remedy
contemplated by this Agreement does not diminish the availability of specific performance of the obligations hereunder or any
other injunctive relief. Each party hereby further agrees that in the event of any action by any other party for specific performance
or injunctive relief, the first party will not assert that a remedy at law or other remedy would be adequate or that specific
performance or injunctive relief in respect of such breach or violation should not be available on the grounds that money damages
are adequate or any other grounds.

 

Section 5. Entire
Agreement. This Agreement, the Merger Agreement and the Surrender and Restriction Agreement together constitute the entire
agreement and understanding of the parties hereto in respect of the subject matter hereof and supersede all prior understandings,
agreements or representations, both written and oral, by or among the parties hereto with respect to the subject matter hereof.

 

Section 6. Waiver.
Except as otherwise expressly provided herein, no delay, failure or waiver by any party to exercise any right or remedy under
this Agreement and no partial or single exercise of any such right or remedy, will operate to limit, preclude, cancel, waive or
otherwise affect such right or remedy, nor will any single or partial exercise of such right or remedy limit, preclude, impair
or waive any further exercise of such right or remedy or the exercise of any other right or remedy. For purposes of this Agreement,
no course of dealing among any or all of the parties shall operate as a waiver of the rights or remedies hereof. The rights and
remedies herein provided are exclusive, and not cumulative, of any rights or remedies provided by applicable Legal Requirement.
No provision hereof may be waived otherwise than by a written instrument signed by the party or parties so waiving such provision
as contemplated herein.

 

Section 7. Notices.
All notices and other communications hereunder shall be in writing and shall be deemed given: (a) on the date of delivery if delivered
personally; (b) one (1) Business Day after being sent by a nationally recognized overnight courier guaranteeing overnight delivery;
(c) when sent, if delivered by email (provided that no “error message” or other notification of non-delivery is generated);
or (d) on the fifth (5th) Business Day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications, to be valid, must be addressed as follows:

 

if to the Sponsors, to:

 

2929 Arch Street, Suite 1703

Philadelphia, PA 19104-2870

	Attention:	Amanda Abrams
	Phone:	+215-701-9555
	Email:	aabrams@cohenandcompany.com

 

    6

    

    

 

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

 

Morgan, Lewis & Bockius LLP

1701 Market Street

Philadelphia, PA 19103-2921

	Attention:	Todd A. Hentges
	 	Timothy Rupp
	 	Jeffrey A. Letalien

	Telephone:	+1-215-963-5000
	Facsimile:	+1-215-963-5001
	Email:	todd.hentges@morganlewis.com
	 	timothy.rupp@morganlewis.com
	 	jeffrey.letalien@morganlewis.com

 

if to the Company, to:

 

eToro Group Ltd.

30 Sheshet Hayamim St., Bnei Brak, Israel 5120261

	Attention:	Yoni Assia
	Phone:	+972-73-265-6600
	Email:	yoni@etoro.com

 

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

 

eToro Group Ltd.

30 Sheshet Hayamim St., Bnei Brak, Israel 5120261

	Attention:	Debbie Kahal
	Phone:	+972-73-265-6600
	Email:	legal@etoro.com

 

and

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, NY 10001

	Attention:	David Goldschmidt
	 	Sven Mickisch
	 	Maxim Mayer-Cesiano
	Telephone:	+1-212-735-3574
	 	+1-212-735-3554
	 	+1-212-735-2297
	Email:	david.goldschmidt@skadden.com
	 	sven.mickisch@skadden.com
	 	maxim.mayercesiano@skadden.com

 

and

 

Meitar | Law Offices

16 Abba Hillel Rd.

Ramat Gan, 5250608, Israel

	Attention:	Dan Shamgar
	 	Jonathan Irom
	Phone:	+972-3-610-3171
	 	+972-3-610-3183
	Email:	dshamgar@meitar.com
	 	jonathani@meitar.com

 

if to eToro Equity Holder, to the address set forth
underneath eToro Equity Holder’s name on the signature page hereto.

 

or to such other address or to the attention of such Person
or Persons as the recipient Party has specified by prior written notice to the sending Party (or in the case of counsel, to such
other readily ascertainable business address as such counsel may hereafter maintain). If more than one method for sending notice
as set forth above is used, the earliest notice date established as set forth above shall control.

 

    7

    

    

 

Section 8. Miscellaneous.

 

(a) Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. Section
11.7 and Section 11.8 of the Merger Agreement are incorporated
herein by reference, mutatis mutandis.

 

(b) Severability.
In the event that any term, provision, covenant or restriction of this Agreement, or the application thereof, is held to be illegal,
invalid or unenforceable under any present or future Legal Requirement: (a) such provision will be fully severable; (b) this Agreement
will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof; (c) the
remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or
unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid or unenforceable provision, there
will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms of such illegal,
invalid or unenforceable provision as may be possible.

 

(c) Counterparts.
This Agreement may be executed in multiple counterparts, all of which shall be considered one and the same document and shall become
effective when multiple counterparts have been signed by each of the parties and delivered to the other parties, it being understood
that all parties hereto need not sign the same counterpart. Delivery by electronic transmission to counsel for the other parties
of a counterpart executed by a party shall be deemed to meet the requirements of the previous sentence.

 

(d) Titles
and Headings. The titles, captions and table of contents in this Agreement are for reference purposes only, and shall
not affect in any way the meaning or interpretation of this Agreement.

 

(e) Assignment;
Successors and Assigns; No Third Party Rights. No party hereto may assign, directly or indirectly, including by operation
of law, either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the
other parties. Subject to the foregoing sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns, and nothing herein, express or implied, is intended to or shall confer
upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
Any purported assignment or delegation made in violation of this provision shall be void and of no force or effect.

 

(f) Further
Assurances. Each party hereto shall execute and deliver such additional documents as may be necessary or desirable to
effect the transactions contemplated by this Agreement.

 

[Signature pages follow]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed and delivered this Agreement as of the date first written above.

 

	 	ETORO GROUP LTD.
	 	 
	 	By:	 
	 	 	Name:  	        
	 	 	Title:	 
	 	 
	 	FINTECH INVESTOR HOLDINGS V, LLC
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	FINTECH MASALA ADVISORS V, LLC
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to the Lock-Up Agreement]

 

     

     

    

 

	 	[ETORO EQUITY HOLDER]:
	 	 
	 	By:	 
	 	 	Name:  	          
	 	 	Title:	 

 

	Addresses for Notices:
	 
	Holder	Address:
	 	Attention:
	 	Email:
	 	 
	With a copy to:	Address:
	 	Attention:
	 	Email:

 

[Signature Page to the Lock-Up Agreement]

 

     

     

    

 

SCHEDULE I

 

eToro Equity Holders

 

     

     

    

 

EXHIBIT A

 

Form of Joinder to Lock-Up AgreementExhibit 10.5

 

EXECUTION VERSION

 

SPONSOR SHARE SURRENDER AND SHARE RESTRICTION
AGREEMENT

 

This Sponsor Share Surrender and Share Restriction
Agreement (the “Agreement”) is made as of March 16, 2021, by and among
eToro Group Ltd., a company organized under the laws of the British Virgin Islands (the “Company”),
FinTech Acquisition Corp. V, a Delaware corporation (“SPAC”), FinTech Investor Holdings V, LLC, a Delaware limited
liability company (“FinTech Investor”), FinTech Masala Advisors V,
LLC, a Delaware limited liability company (together with FinTech Investor, each, a “Sponsor” and collectively,
the “Sponsors”), and the other parties to the Insider Agreement (as defined below) set forth on the signature
pages hereto. Capitalized terms used but not defined herein shall have the respective meanings given to such terms in the Merger
Agreement (as defined below).

 

RECITALS

 

WHEREAS, as of the date hereof, the
Sponsors collectively are the holders of record and the “beneficial owners” (within the meaning of Rule 13d-3 under
the Exchange Act) of (i) 8,546,667 shares of SPAC Class B Stock (the “Sponsor Class
B Shares”) and (ii) 640,000 SPAC Private Units purchased in a private placement concurrently with SPAC’s
initial public offering, consisting of 640,000 shares of SPAC Class A Stock (the “Sponsor Class A Shares” and
together with the Sponsor Class B Shares, the “Sponsor Shares”) and Private Placement Warrants to purchase 213,333
shares of SPAC Class A Stock Shares in the aggregate (the “Sponsor Warrants”);

 

WHEREAS, contemporaneously with the
execution and delivery of this Agreement, the Company, SPAC and Buttonwood Merger Sub Corp., a Delaware corporation and a direct,
wholly-owned subsidiary of the Company (“Merger Sub”), have entered into an Agreement and Plan of Merger, dated
as of the date hereof (as amended or modified from time to time, the “Merger Agreement”),
pursuant to which, among other things, at the Effective Time, Merger Sub will merge with and into SPAC, with SPAC surviving as
a direct, wholly-owned subsidiary of the Company (the “Merger”);

 

WHEREAS, pursuant to the Merger Agreement,
each share of SPAC Class A Stock and share of SPAC Class B Stock issued and outstanding immediately prior to the Effective Time
(after giving effect to the SPAC Stockholder Redemption and excluding the Excluded Shares and all Sponsor Shares being forfeited
and surrendered pursuant to this Agreement) shall be converted into the right to receive one (1) Company Common Share, on the terms
and conditions set forth therein (such Company Common Shares issuable to the Sponsors as Merger Consideration at the Effective
Time, collectively, the “Sponsor Company Common Shares”); and

 

WHEREAS, as an inducement to the
Company and SPAC to enter into the Merger Agreement and to consummate the Merger, the Sponsors are entering into this Agreement
to provide for (i) the surrender at the Effective Time of certain of the Sponsor Class B Shares and all of the Sponsor Warrants
and (ii) the imposition at the Effective Time of certain transfer restrictions with respect to the Restricted Shares (as defined
below).

 

    

     

    

 

AGREEMENT

 

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

 

ARTICLE
I

 

SECURITY SURRENDER; TRANSFER RESTRICTION; WAIVER OF ANTI-DILUTION PROTECTION

 

Section 1.1 
Security Surrender.

 

(a) 
As of immediately prior to the Effective Time, but conditioned upon the Closing, the Sponsors hereby, without any further
action by any Sponsor or any other Person, irrevocably forfeit and surrender to SPAC, for no consideration, a number of Sponsor
Class B Shares representing fifteen percent (15%) of the Sponsor Class B Shares then held by the Sponsors, with the result of such
calculation, per Sponsor, being rounded down to the nearest whole share (the “Surrendered
Class B Shares”), which Surrendered Class B Shares shall thereupon be cancelled by SPAC and no longer outstanding.

 

(b) 
As of immediately prior to the Effective Time, but conditioned upon the Closing, the Sponsors hereby, without any further
action by any Sponsor or any other Person, irrevocably forfeit and surrender to SPAC, for no consideration, all of the Sponsor
Warrants then held by the Sponsors (the “Surrendered Warrants”), which
Surrendered Warrants shall thereupon be cancelled by SPAC and no longer outstanding.

 

(c) 
In the event that the number of shares of SPAC Class A Stock being redeemed prior to the Closing in connection with the
SPAC Stockholder Redemption exceeds the amount that is equal to twenty percent (20%) of the issued and outstanding shares of SPAC
Class A Stock (the “Redemption Floor”) immediately prior to the Effective Time, the Sponsors hereby, in addition
to the application of Section 1.1(a) and without any further action by any Sponsor or any other Person, irrevocably forfeit
and surrender to SPAC, for no consideration, a number of Sponsor Class B Shares equal to one percent (1%) of the Sponsor Class
B Shares outstanding as of the date hereof for every additional one percent (1%) of the SPAC Class A Stock being redeemed in excess
of the Redemption Floor, in each case without any rounding or forfeiture with respect to any portion of a percent (collectively,
the “Contingent Surrendered Class B Shares”). By way of illustration, if the percentage of SPAC Class A Stock
being redeemed in excess of the Redemption Floor is 0.83%, then the number of Contingent Surrendered Class B Shares would be 0%
of the Sponsor Class B Shares outstanding as of the date hereof, and, if the percentage of SPAC Class A Stock being redeemed in
excess of the Redemption Floor is 1.83%, then the number of Contingent Surrendered Class B Shares would be 1.00% of the Sponsor
Class B Shares outstanding as of the date hereof. The result of the calculation of Contingent Surrendered Class B Shares, per Sponsor,
shall be rounded down to the nearest whole share. The number of Contingent Surrendered Class B Shares shall be allocated among
Sponsors as determined by Sponsors at least one Business Day prior to the Closing Date; provided, that to the extent that
no such determination is timely made, such allocation shall be pro rata based on the number of shares of SPAC Class B Stock
held by each as of the date of this Agreement. Following the forfeiture and surrender contemplated by this Section 1.1(c),
the Contingent Surrendered Class B Shares shall be cancelled by SPAC and no longer outstanding.

 

    2

     

    

 

Section 1.2 
Transfer Restriction.

 

(a) 
Transfer Restrictions of the Restricted Shares. That certain letter agreement, dated as of December 3, 2020 (the
“Insider Agreement”), among SPAC, the Sponsors and the Insiders (as
such term is defined therein), provides, among other things, that certain of the Sponsor Class B Shares shall only be transferable
upon the happening of certain events. Effective as of the Effective Time and conditioned upon the Closing, the Insider Agreement
shall be terminated and be of no further force and effect. In addition to certain transfer restrictions on the Restricted Shares
as contemplated by that certain Lock-Up Agreement, dated as of the date hereof, by and among the Company, the Sponsors and each
of the parties listed on Schedule I thereto (the “Lock-Up Agreement”), each Holder (as defined below) shall
not Transfer any Restricted Shares unless the restrictions on Transfer set forth in this Section 1.2(a) have, in accordance
with Section 1.2(b), lapsed with respect to any Restricted Shares to be Transferred. As used herein, “Restricted
Shares” means the number of Sponsor Company Common Shares representing seventy-five percent (75%) of the total number
of Sponsor Company Common Shares held by each Sponsor immediately following the Effective Time that were issued to such Sponsor
as Merger Consideration in respect of such Sponsor’s Sponsor Class B Shares (with the result of such calculation, per Sponsor,
being rounded down to the nearest whole share). This Section 1.2 shall continue to apply to Restricted Shares following
their transfer to a Permitted Transferee (as defined in Section 1.2(c) below). For the avoidance of doubt, the Surrendered
Class B Shares and Surrendered Warrants, and any Sponsor Company Common Shares that are not Restricted Shares (including,
without limitation, Sponsor Company Common Shares acquired in the open market, issued to a Sponsor as Merger Consideration in respect
of SPAC Class A Stock, or issued to a Sponsor in the PIPE Investment), shall not be subject to the provisions of this Section 1.2.

 

(b) 
Timing and Lapse of Transfer Restrictions. As used herein, (1) “Holders” means, collectively,
the Sponsors and their Permitted Transferees that hold the Restricted Shares pursuant to the terms of this Agreement and the Merger
Agreement, (2) “Stock Price” means, on any Trading Day after the Closing,
the closing sale price per Company Common Share reported as of 4:00 p.m., New York, New York time on such Trading Day, as reported
by Bloomberg L.P. (or, if not reported therein, in another authoritative source mutually selected by the Holder and the Company),
(3) “Trading Day” means any day on which Company Common Shares are
tradeable on the principal securities exchange or securities market on which Company Common Shares are then traded and (4) “Transfer”
shall mean, directly or indirectly, (A) the sale or assignment of, offer to sell, contract or agreement to sell, hypothecation,
pledge, grant of any option to purchase or other disposition of or agreement to dispose of 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, Restricted Shares, (B) entry into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of, or any other derivative transaction with respect to, Restricted
Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (C) the public announcement
of any intention to effect any transaction specified in clause (A) or (B).

 

(i) 
The transfer restrictions on the Restricted Shares set forth in Section 1.2(a) shall lapse, and shall no longer apply,
with respect to 33.3% of the Restricted Shares (measured as of the Closing Date, with the result of such calculation being rounded
down, with respect to each Holder, to the nearest whole share) (the “12.50 Shares”), on the first date that
the Stock Price equals or is greater than $12.50 per share for any 20 Trading Days following the Closing Date within any 30 consecutive
Trading Day period (such date, the “First Earnout Date”), and, except as otherwise provided in the Lock-Up Agreement,
a Holder may Transfer, or permit the Transfer of, such Holder’s 12.50 Shares on and after the First Earnout Date.

 

    3

     

    

 

(ii) 
The transfer restrictions on the Restricted Shares set forth in Section 1.2(a) shall lapse, and shall no longer apply,
with respect to an additional 33.3% of the Restricted Shares (measured as of the Closing Date, with the result of such calculation
being rounded down, with respect to each Holder, to the nearest whole share) (the “15.00 Shares”), on the first
date that the Stock Price equals or is greater than $15.00 per share for any 20 Trading Days following the Closing Date within
any 30 consecutive Trading Day period (such date, the “Second Earnout Date”), and, except as otherwise provided
in the Lock-Up Agreement, a Holder may Transfer, or permit the Transfer of, such Holder’s 15.00 Shares on and after the Second
Earnout Date.

 

(iii) 
The transfer restrictions on the Restricted Shares set forth in Section 1.2(a) shall lapse, and shall no longer apply,
with respect to any then remaining Restricted Shares (after the application of the immediately preceding clauses (i) and (ii))
on the first date that the Stock Price equals or is greater than $17.50 per share for any 20 Trading Days following the Closing
Date within any 30 consecutive Trading Day period (such date, the “Third Earnout Date” and together with the
First Earnout Date and the Second Earnout Date, the “Earnout Dates”), and, except as otherwise provided in the
Lock-Up Agreement, a Holder may Transfer, or permit the Transfer of, any Restricted Shares on and after the Third Earnout Date.

 

(iv) 
The foregoing provisions of clauses (i) through (iii) notwithstanding, if, on the Sponsor Early Release Date (as defined
in the Lock-Up Agreement), the Sponsor delivers to the Company the notice referenced in Section 2(g) of the Lock-Up Agreement then,
automatically and without any further action by any Person:

 

(1) 
a number of 12.50 Shares equal to the product of (A) the number of Sponsor Early Release Shares (as defined in the Lock-Up
Agreement) and (B) a fraction, the numerator of which is the number of 12.50 Shares and the denominator of which is the sum of
the number of Sponsor Lock-Up Shares (as defined in the Lock-Up Agreement) and the number of Restricted Shares (for the avoidance
of doubt, without duplication between such two categories of shares, it being the intent of the parties to avoid “double-counting”)
shall be released from restrictions on Transfer under this Agreement; provided that in no event shall the number of shares
released under this clause (1) exceed the number of 12.50 Shares;

 

    4

     

    

 

(2) 
a number of 15.00 Shares equal to the product of (A) the number of Sponsor Early Release Shares and (B) a fraction, the
numerator of which is the number of 15.00 Shares and the denominator of which is the sum of the number of Sponsor Lock-Up Shares
and the number of Restricted Shares (for the avoidance of doubt, without duplication between such two categories of shares, it
being the intent of the parties to avoid “double-counting”) shall be released from restrictions on Transfer under this
Agreement; provided that in no event shall the number of shares released under this clause (2) exceed the number of 15.00
Shares; and

 

(3) 
a number of 17.50 Shares equal to the product of (A) the number of Sponsor Early Release Shares and (B) a fraction, the
numerator of which is the number of 17.50 Shares and the denominator of which is the sum of the number of Sponsor Lock-Up Shares
and the number of Restricted Shares (for the avoidance of doubt, without duplication between such two categories of shares, it
being the intent of the parties to avoid “double-counting”) shall be released from restrictions on Transfer under this
Agreement; provided that in no event shall the number of shares released under this clause (1) exceed the number of 17.50
Shares.

 

(v) 
Each of the Holders shall be entitled to vote its Restricted Shares and receive dividends and other distributions with respect
to such Restricted Shares during any period of time that such shares are subject to restrictions on Transfer hereunder.

 

(c) 
Permitted Transfers.

 

(i) 
As used herein, a “Permitted Transferee” shall mean (subject to compliance with Section 1.2(c)(ii)):
(A) the members of Holder’s immediate family (for purposes of this Agreement, “immediate family” shall mean with
respect to any natural person, any of the following: such person’s spouse or domestic partner, the siblings of such person
and his or her spouse or domestic partner, and the direct descendants and ascendants (including adopted and step children and parents)
of such person and his or her spouses or domestic partners and siblings), (B) any entities controlled by, controlling or under
common control with such Holder, (C) any trust for the direct or indirect benefit of Holder or the immediate family of Holder,
(D) if Holder is a trust, the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, (E) if Holder
is an entity, any direct or indirect partners, members or equity holders of Holder, any affiliate (as defined in Rule 405 promulgated
under the Securities Act) of Holder or any related investment funds or vehicles controlled or managed by such persons or entities
or their respective affiliates (for the avoidance of doubt, a managed account managed by the same investment manager of any member
of either Sponsor shall be deemed an affiliate of such member), or (F), to the extent not already permitted pursuant to the preceding
clauses (A) through (E), to any Person described in clauses 2(a) through 2(f), 2(h) or 2(k) of Section 3(d) of the Insider Agreement.

 

    5

     

    

 

(ii) 
Notwithstanding anything to the contrary set forth in this Agreement, the transfer restrictions set forth in Sections 1.2(a)
and 1.2(b) shall not apply to a Transfer of any or all of the Restricted Shares that are held by a Holder (A) to any Permitted
Transferee of such Holder, (B) by will or intestate succession upon the death of such Holder, (C) by operation of law or pursuant
to a court order, such as a qualified domestic relations order, divorce decree or separation agreement or (D) in connection with
a Liquidation Event (as defined below); provided, that in the case of clauses (A), (B), or (C), it shall be a condition
to such Transfer that the transferee executes and delivers to the Company a joinder agreement, duly executed by such transferee
and substantially in the form attached hereto as Exhibit A, stating, among other things, that such transferee shall receive
and hold the Restricted Shares subject to the provisions of this Agreement applicable to the transferring Holder, and there shall
be no further Transfer of such Restricted Shares except in accordance with the terms of this Agreement. As used herein, “Liquidation
Event” means a liquidation, merger, capital stock exchange, reorganization, sale of substantially all assets or other
similar transaction involving the Company upon the consummation of which holders of Company Common Shares would be entitled to
exchange their shares of Company Common Shares for cash, securities or other property.

 

(d) 
Prohibited Transfer. If any Transfer is made or attempted in violation of or contrary to the terms of this Agreement
(a “Prohibited Transfer”), such purported Prohibited Transfer shall be null and void ab initio, and the
Company shall refuse to recognize any such purported transferee of the Restricted Shares as one of the Company’s equity holders
for any purpose. In order to enforce this Section 1.2(d), the Company may impose stop-transfer instructions with respect
to the Restricted Shares of a transferring Holder until the applicable Earnout Date, except in compliance with the restrictions
set forth in this Agreement.

 

(e) 
Equitable Adjustment. If, between the Closing and a Liquidation Event, the outstanding Company Common Shares shall
have been changed into a different number of shares or a different class, by reason of any stock dividend, subdivision, reclassification,
recapitalization, split, combination or exchange of shares, or any similar transaction affecting the outstanding Company Common
Shares, then any number, value (including dollar value) or amount contained herein which is based upon the number of shares of
Company Common Shares will be equitably adjusted for such dividend, subdivision, reclassification, recapitalization, split, combination
or exchange of shares, or any similar transaction. Any adjustment under this Section 1.2(e) shall become effective at the
date and time that such stock dividend, subdivision, reclassification, recapitalization, split, combination or exchange of shares,
or any similar transaction became effective. For the avoidance of doubt, no change of units or shares pursuant to the transactions
contemplated by the Merger Agreement (including the issuance of the Price Adjustment Rights) shall constitute a stock dividend,
subdivision, reclassification, recapitalization, split, combination or exchange of shares, or similar transaction requiring an
equitable adjustment.

 

    6

     

    

 

(f) 
Legend. Each certificate evidencing any Restricted Shares shall be stamped or otherwise imprinted with a legend in
substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A SPONSOR SHARE SURRENDER AND SHARE RESTRICTION AGREEMENT,
DATED AS OF MARCH 16, 2021, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”), THE ISSUER’S SECURITY
HOLDER NAMED THEREIN AND CERTAIN OTHER PARTIES NAMED THEREIN, AS AMENDED. A COPY OF SUCH SPONSOR SHARE SURRENDER AND SHARE RESTRICTION
AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

Promptly upon the expiration of the Lock-Up Period, the Company
will cause such legend to be removed from the certificates evidencing the Lock-Up Shares.

 

Section 1.3 
Waiver of Anti-Dilution Protection. The Sponsors, who are the holders of all of the outstanding shares of SPAC Class
B Stock as of the date hereof, hereby waive any rights to anti-dilution protections with respect to the SPAC Class B Stock that
may result from the PIPE Investment, including as provided in Section 4.03 of SPAC’s Amended and Restated Certificate of
Incorporation, dated as of December 3, 2020 (the “SPAC Charter”).

 

ARTICLE
II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1 
Representations and Warranties of the Sponsors. Each Sponsor represents and warrants as of the date hereof to the
Company and SPAC (solely with respect to itself and not with respect to any other Sponsor) as follows:

 

(a) 
Organization; Due Authorization. Such Sponsor is duly organized, validly existing and in good standing under the
laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance
of this Agreement and the consummation of the transactions contemplated hereby are within such Sponsor’s corporate, limited
liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability company
or organizational actions on the part of such Sponsor. This Agreement has been duly executed and delivered by such Sponsor and,
assuming due authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally
valid and binding obligation of such Sponsor, enforceable against such Sponsor in accordance with the terms hereof (except as enforceability
may be limited by bankruptcy laws, other similar laws affecting creditors’ rights and general principles of equity affecting
the availability of specific performance and other equitable remedies).

 

    7

     

    

 

(b) 
Ownership. The Sponsors are the record and beneficial owners (within the meaning of Rule 13d-3 under the Exchange
Act) of, and have good title to, all of the Sponsor Shares and Sponsor Warrants set forth on Schedule I hereto and
there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise
dispose of such Sponsor Shares and Warrants (other than transfer restrictions under the Securities Act or other applicable securities
laws)) affecting any such Sponsor Shares and Warrants, other than any Permitted Liens or pursuant to (i) this Agreement, (ii) the
SPAC Charter, (iii) the Merger Agreement, (iv) the Insider Agreement, (v) the SPAC Voting Agreement, (vi) the Lock-Up Agreement
or (vii) the Registration Rights Agreement. Other than the Sponsor Warrants and pursuant to the SPAC Charter, such Sponsor does
not hold or own any rights to acquire (directly or indirectly) any equity securities of the Company or outstanding options, warrants,
rights, convertible or exchangeable securities, “phantom” stock rights, stock appreciation rights, stock-based performance
units or commitments for shares of the Company. The shares of SPAC Class B Stock set forth on Schedule I hereto constitute
all of the outstanding shares of Class B common stock of SPAC and the Sponsor Warrants set forth on Schedule I hereto
constitute all of the private placement warrants of SPAC.

 

(c) 
No Conflicts. The execution and delivery of this Agreement by such Sponsor does not, and the performance by such
Sponsor of its obligations hereunder will not, (i) conflict with or result in a violation of the organizational documents of such
Sponsor or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including
under any contract binding upon such Sponsor or such Sponsor’s Sponsor Shares or Warrants), in each case to the extent such
consent, approval or other action would prevent, enjoin or materially delay the performance by such Sponsor of its obligations
under this Agreement. Each Sponsor has full right and power to enter into this Agreement.

 

(d) 
Litigation. There are no Legal Proceedings pending against such Sponsor, or to the knowledge of such Sponsor, threatened
against such Sponsor, before (or, in the case of threatened Legal Proceedings, that would be before) any Governmental Entity, which
in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor of its obligations under
this Agreement. Such Sponsor has never been suspended or expelled from membership in any securities or commodities exchange or
association or had a securities or commodities license or registration denied, suspended or revoked. Such Sponsor (i) is not subject
to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any jurisdiction, (ii) has never been convicted of, or pleaded
guilty to, any crime involving fraud, relating to any financial transaction or handling of funds of another person, or pertaining
to any dealings in any securities and (iii) is not currently a defendant in any such criminal proceeding.

 

(e) 
Acknowledgment. Such Sponsor understands and acknowledges that each of the Company and SPAC is entering into the
Merger Agreement in reliance upon such Sponsor’s execution and delivery of this Agreement. Such Sponsor has had the opportunity
to read the Merger Agreement and this Agreement and has had the opportunity to consult with its tax and legal advisors.

 

    8

     

    

 

ARTICLE
III

MISCELLANEOUS

 

Section 3.1 
Termination. This Agreement and all of its provisions shall automatically terminate and be of no further force or
effect upon the termination of the Merger Agreement in accordance with its terms. If the Closing takes place, the provisions of
this Agreement, other than this Article III, shall terminate and be of no further force or effect upon the first to
occur of (i) the date of a Liquidation Event or (ii) the date that all of the Restricted Shares are no longer subject to the transfer
restrictions set forth in Section 1.2.

 

Section 3.2 
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. Section 11.7 and Section 11.8 of the Merger Agreement
are incorporated herein by reference, mutatis mutandis.

 

Section 3.3 
Assignment. No party hereto may assign, directly or indirectly, including by operation of law, either this Agreement
or any of its rights, interests, or obligations hereunder without the prior written approval of the other parties. Subject to the
foregoing sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. Any purported assignment or delegation made in violation of this provision shall be void and
of no force or effect.

 

Section 3.4 
Specific Performance. The parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached. The parties further agree
that each party shall be entitled to seek specific performance of the terms hereof and immediate injunctive relief and other equitable
relief to prevent breaches, or threatened breaches, of this Agreement, without the necessity of proving the inadequacy of money
damages as a remedy and without bond or other security being required, this being in addition to any other remedy to which they
are entitled at law or in equity. Each party hereby acknowledges and agrees that it may be difficult to prove damages with reasonable
certainty, that it may be difficult to procure suitable substitute performance, and that injunctive relief and/or specific performance
will not cause an undue hardship to the parties. Each party hereby further acknowledges that the existence of any other remedy
contemplated by this Agreement does not diminish the availability of specific performance of the obligations hereunder or any other
injunctive relief. Each party hereby further agrees that in the event of any action by any other party for specific performance
or injunctive relief, the first party will not assert that a remedy at law or other remedy would be adequate or that specific performance
or injunctive relief in respect of such breach or violation should not be available on the grounds that money damages are adequate
or any other grounds.

 

Section 3.5 
Amendment. This Agreement may be amended by the parties hereto at any time by execution of an instrument in writing
signed on behalf of each of the parties. No modification, termination, rescission, discharge, or cancellation of this Agreement
shall be effective unless in writing signed by the party against whom it is sought to be enforced, or shall affect the right of
any party to enforce any claim or right hereunder, whether or not liquidated, where circumstances giving rise to such claim or
right occurred prior to the date of such modification, termination, rescission, discharge, or cancellation.

 

    9

     

    

 

Section 3.6 
Waiver. Except as otherwise expressly provided herein, no delay, failure or waiver by any party to exercise any right
or remedy under this Agreement and no partial or single exercise of any such right or remedy, will operate to limit, preclude,
cancel, waive or otherwise affect such right or remedy, nor will any single or partial exercise of such right or remedy limit,
preclude, impair or waive any further exercise of such right or remedy or the exercise of any other right or remedy. For purposes
of this Agreement, no course of dealing among any or all of the parties shall operate as a waiver of the rights or remedies herein.
The rights and remedies herein provided are exclusive, and not cumulative, of any rights or remedies provided by applicable Legal
Requirement. No provision hereof may be waived otherwise than by a written instrument signed by the party or parties so waiving
such provision as contemplated herein.

 

Section 3.7 
Severability. In the event that any term, provision, covenant or restriction of this Agreement, or the application
thereof, is held to be illegal, invalid or unenforceable under any present or future Legal Requirement: (a) such provision will
be fully severable; (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had
never comprised a part hereof; (c) the remaining provisions of this Agreement will remain in full force and effect and will not
be affected by the illegal, invalid or unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid
or unenforceable provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable provision
as similar in terms of such illegal, invalid or unenforceable provision as may be possible.

 

Section 3.8 
Notices. All notices and other communications hereunder shall be in writing and shall be deemed given: (a) on the
date of delivery if delivered personally; (b) one (1) Business Day after being sent by a nationally recognized overnight courier
guaranteeing overnight delivery; (c) when sent, if delivered by email (provided that no “error message” or other notification
of non-delivery is generated); or (d) on the fifth (5th) Business Day after the date mailed, by certified or registered mail, return
receipt requested, postage prepaid. Such communications, to be valid, must be addressed as follows:

 

If to the Sponsors and, prior to the Closing, SPAC:

 

2929 Arch Street, Suite 1703

Philadelphia, PA 19104-2870

		Attention:	Amanda Abrams

		Phone:	+215-701-9555

		Email:	aabrams@cohenandcompany.com

 

    10

     

    

 

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

 

Morgan, Lewis & Bockius, LLP

1701 Market Street, Philadelphia, PA 19103-2921

		Attention:	Todd A. Hentges
	 	 	Timothy Rupp
	 	 	Jeffrey A. Letalien

		Phone:	+1-215-963-5000

		Facsimile:	+1-215-963-5001

		Email:	todd.hentges@morganlewis.com
	 	 	timothy.rupp@morganlewis.com
	 	 	jeffrey.letalien@morganlewis.com

 

If to the Company or, following the Closing, to SPAC:

 

eToro Group Ltd.

30 Sheshet Hayamim St., Bnei Brak, Israel 5120261

		Attention:	Yoni Assia

		Phone:	+972-73-265-6600

		Email:	yoni@etoro.com

 

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

 

eToro Group Ltd.

30 Sheshet Hayamim St., Bnei Brak, Israel 5120261

		Attention:	Debbie Kahal

		Phone:	+972-73-265-6600

		Email:	legal@etoro.com

 

and

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, NY 10001

		Attention:	David Goldschmidt
	 	 	Sven Mickisch
	 	 	Maxim Mayer-Cesiano

		Telephone:	+212-735-3574
	 	 	+212-735-3554
	 	 	+212-735-2297
		Email:	david.goldschmidt@skadden.com
	 	 	sven.mickisch@skadden.com
	 	 	maxim.mayercesiano@skadden.com

    

 

    11

     

    

 

and

Meitar | Law Offices

16 Abba Hillel Rd.

Ramat Gan, 5250608, Israel

		Attention:	Dan Shamgar
	 	 	Jonathan Irom

		Phone:	+972-3-610-3171
	 	 	+972-3-610-3183

		Email:	dshamgar@meitar.com
	 	 	jonathani@meitar.com

 

or to such other address or to the attention of such Person
or Persons as the recipient party has specified by prior written notice to the sending party (or in the case of counsel, to such
other readily ascertainable business address as such counsel may hereafter maintain). If more than one method for sending notice
as set forth above is used, the earliest notice date established as set forth above shall control.

 

Section 3.9 
Counterparts. This Agreement may be executed in multiple counterparts, all of which shall be considered one and the
same document and shall become effective when multiple counterparts have been signed by each of the parties and delivered to the
other parties, it being understood that all parties hereto need not sign the same counterpart. Delivery by electronic transmission
to counsel for the other parties of a counterpart executed by a party shall be deemed to meet the requirements of the previous
sentence.

 

Section 3.10 
Entire Agreement. In the event and to the extent that there shall be a conflict between the provisions of this Agreement
and the provisions of the Insider Agreement, this Agreement shall control with respect to the subject matter hereof. This Agreement,
the Merger Agreement and the Lock-Up Agreement together constitute the entire agreement and understanding of the parties hereto
in respect of the subject matter hereof and supersede all prior understandings, agreements or representations, both written and
oral, by or among the parties hereto with respect to the subject matter hereof.

 

[Signature Page Follows]

 

    12

     

    

 

IN WITNESS WHEREOF, the parties hereto
have each caused this Sponsor Share Surrender and Share Restriction Agreement to be duly executed as of the date first written
above.

 

	 	FINTECH ACQUISITION CORP. V
	 	 	 
	 	By:	/s/ James J. McEntee, III
	 	Name:	James J. McEntee, III
	 	Title:	President and Secretary
	 	 	 
	 	FINTECH INVESTOR HOLDINGS V, LLC
	 	 
	 	By: Cohen Sponsor Interests V, LLC, its Manager
	 	 
	 	By: FinTech Masala, LLC, its sole member
	 	 	 
	 	By:	/s/ Daniel G. Cohen
	 	Name:	Daniel G. Cohen
	 	Title:	President
	 	 	 
	 	FINTECH MASALA ADVISORS V, LLC
	 	 
	 	By: Cohen Sponsor Interests V, LLC, its Manager
	 	 
	 	By: FinTech Masala, LLC, its sole member
	 	 	 
	 	By:	/s/ Daniel G. Cohen
	 	Name:	Daniel G. Cohen
	 	Title:	President

 

 

[Signature Page to Sponsor Share Surrender
and Share Restriction Agreement]

 

    

     

    

 

	 	/s/ Betsy Z. Cohen
	 	Betsy Z. Cohen, individually
	 	 
	 	/s/ Daniel G. Cohen
	 	Daniel G. Cohen, individually
	 	 
	 	/s/ James J. McEntee, III
	 	James J. McEntee, III, individually
	 	 
	 	/s/ Douglas Listman
	 	Douglas Listman, individually
	 	 
	 	/s/ Laura S. Kohn
	 	Laura S. Kohn, individually
	 	 
	 	/s/ Jan Rock Zubrow
	 	Jan Rock Zubrow, individually
	 	 
	 	/s/ Brittain Ezzes
	 	Brittain Ezzes, individually

 

 

[Signature Page to Sponsor Share Surrender
and Share Restriction Agreement]

 

    

     

    

 

	 	ETORO GROUP LTD.
	 	 	 
	 	By:	/s/ Johnathan Assia
	 	Name:	Johnathan Assia
	 	Title:	Chief Executive Officer

 

 

[Signature Page to Sponsor Share Surrender
and Share Restriction Agreement]

 

    

     

    

 

By execution and delivery hereof, the undersigned,
being the “Representative” under that certain Underwriting Agreement dated December 3, 2020, among FinTech Acquisition
Corp. V and the undersigned (the “Underwriting Agreement”), hereby consents, including pursuant to Sections
2.22.1, 3.28 and 7.3.1 of the Underwriting Agreement, to the termination, effective as of the Effective Time, of the “Insider
Letter” (as such term is defined in the Underwriting Agreement) effected by this Agreement.

 

	 	CANTOR FITZGERALD & CO
	 	 	 
	 	By: 	/s/ Sage Kelly
	 	Name: 	Sage Kelly
	 	Title: 	 

 

 

[Signature Page to Sponsor Share Surrender
and Share Restriction Agreement]

 

     

     

    

 

Schedule I

 

Sponsor Shares
and Warrants

 

     

     

    

 

EXHIBIT A

 

Form of Joinder
to Sponsor Share Surrender and Share Restriction Agreement

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