Document:

Exhibit 10.1

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of [●], 2022, is made and entered into by and among Mondee Holdings, Inc., a Delaware corporation (the “Company”)
(formerly known as ITHAX Acquisition Corp., an exempted company incorporated in the Cayman Islands with limited liability), ITHAX Acquisition
Sponsor LLC, a Delaware limited liability company (the “Sponsor”) Mondee Holdings, LLC, a Delaware limited liability
company (“Mondee LLC”), each person listed on the signature pages under the caption “Third-Party Investors”
or who execute a Joinder as a “Third-Party Investor” and each person listed on the signature pages under the caption “Earn-Out
Holders” or who executes a Joinder as an “Earn-Out Holders” or who executes a Joinder as an “Earn-Out Holder”
(the Sponsor, Mondee LLC, Third-Party Investors (as defined below) and the Earn-Out Holders (as defined below) are collectively referred
to as “Holders” and each, a “Holder”).

RECITALS

 

WHEREAS, the Company has entered into that certain Business
Combination Agreement, dated as of December 20, 2021 (as it may be amended or supplemented from time to time, the “Business
Combination Agreement”), by and among the Company, Ithax Merger Sub I, LLC, a Delaware limited liability company (“Merger
Sub I”), Ithax Merger Sub II, LLC, a Delaware limited liability company (“Merger Sub II”) and
Mondee Holdings II, Inc., a Delaware corporation (“Mondee Holdings”), by which (a) Merger Sub I will merge with
and into Mondee Holdings, with Mondee Holdings surviving as a wholly owned subsidiary of the Company; and (b) immediately following; Mondee
Holdings will merge with and into Merger Sub II, with Merger Sub II surviving as a wholly owned subsidiary of the Company;

 

WHEREAS, on the date hereof, pursuant to the Business Combination
Agreement, Mondee LLC received shares of Company Class A common stock, par value $0.001 per share, (the “Common Stock”),
of the Company;

 

WHEREAS, on the date hereof, certain other investors (such other
investors, collectively, the “Third-Party Investors”) purchased an aggregate of 5,000,000 shares of Common Stock
(the “Investor Shares”) in a transaction exempt from registration under the Securities Act of 1933, as amended
(the “Securities Act”) pursuant to the respective Subscription Agreement, each dated as of December 20, 2021,
entered into by and between the Company and each of the Third-Party Investors (each, a “Subscription Agreement”
and, collectively, the “Subscription Agreements”);

 

WHEREAS, on the date hereof, the Company entered into the Earn-Out
Agreement, pursuant to which up to 9,000,000 shares of Common Stock (the “Earn-Out Shares”) shall be issued
to management and other affiliates of the Company, subject to the terms and conditions set forth in the Earn-Out Agreement (the “Earn-Out
Holders”); and

 

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

 

Section 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” shall have the meaning
given in Section 6.10.

 

“Additional Holder Common Stock” shall have
the meaning given in Section 6.10.

 

“Adverse Disclosure” shall mean any public
disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer or the Chief
Financial Officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration
Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus and any preliminary
prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such
time if the Registration Statement were not being filed, declared effective or used, as the case may be and (iii) the Company has a bona
fide business purpose for not making such information public.

 

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

 

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

 

“Board” shall mean the Board of Directors
of the Company.

 

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

 

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

 

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

 

“Commission” shall mean the Securities and
Exchange Commission.

 

“Common Stock” shall have the meaning given
in the Recitals hereto.

 

“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.

 

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

 

“Earn-Out Agreement” shall mean the Earn-Out
Agreement dated December 20, 2021 by and among ITHAX Acquisition Corp., an exempted company incorporated in the Cayman Islands with limited
liability (and any successor thereto) and the certain persons listed on Schedule A thereto.

 

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

 

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

 

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

 

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

 

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

 

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

 

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“Joinder” shall have the meaning given in
Section 6.10.

 

“Lock-up” shall have the meaning given in
Section 5.1.1.

 

“Lock-up Holders” shall have the meaning
given in Section 5.1.1.

 

“Lock-up Period” shall mean the period beginning
on the Closing Date and ending on the earlier to occur of (a) six (6) months after the Closing Date, (b) such date that the closing price
of Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any twenty (20) trading days within any period of thirty (30) consecutive trading days commencing at least ninety (90)
calendar days following the Closing Date and (c) the date on which the Company consummates a sale, merger, liquidation, exchange offer
or other similar transaction after the Closing Date that results in the stockholders of Mondee Holdings immediately prior to such transaction
having beneficial ownership of less than fifty percent (50%) of the outstanding voting securities of the Company.

 

“Lock-up Shares” shall mean Common Stock
beneficially owned (as such term is used in Rule 13d-3 of the 1934 Act), by a Lock-up Holder immediately following the Closing Date or
any other securities so owned convertible into or exercisable or exchangeable for such Common Stock immediately following the Closing
Date (other than shares of Common Stock acquired in the public market or pursuant to a transaction exempt from registration under the
1933 Act pursuant to a subscription agreement where the issuance of Common Stock occurs on or after the Closing Date); provided,
that, for clarity, Common Stock issued to Third-Party Investors pursuant to the Subscription Agreements shall not constitute Lock-up Shares.

 

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

 

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

 

“Misstatement” shall mean an untrue statement
of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus or necessary
to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light of the circumstances under
which they were made) not misleading.

 

“Other Coordinated Offering” shall have the
meaning given in Section 2.4.1.

 

“Permitted Transferees” shall mean (i) any
person or entity to whom such Holder is permitted to Transfer such Registrable Securities prior to the expiration of the Lock-up Period
pursuant to Section 5.1.1 and (ii) after the expiration of the Lock-up Period, any person or entity to whom such Holder is not
prohibited from transferring such Registrable Securities, subject to and in accordance with any applicable agreement between such Holder
and/or their respective Permitted Transferees and the Company and any transferee thereafter.

 

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

 

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

 

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“Registrable Security” shall mean (a)
any outstanding shares of Common Stock or any other equity security (including warrants to purchase shares of Common Stock and
shares of Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by a Holder
immediately following the Closing Date (including any securities distributable pursuant to the Business Combination Agreement or the
Earn-Out Agreement); (b) any Additional Holder Common Stock (including, for the avoidance of doubt, any Earn-Out Shares delivered
pursuant to the Earn-Out Agreement); and (c) any other equity security of the Company or any of its subsidiaries issued or issuable
with respect to any securities referenced in clause (a) or (b) above by way of a stock dividend or stock split or in connection with
a recapitalization, merger, consolidation, spin-off, reorganization or similar transaction; provided, however, that,
as to any particular Registrable Security, such securities shall cease to be Registrable Securities upon the earliest to occur of:
(A) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and
such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement by the
applicable Holder; (B) (i) such securities shall have been otherwise transferred (other than to Permitted Transferees), (ii) 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 (iii) subsequent public distribution of such securities shall not require registration under
the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration
pursuant to Rule 144 or any successor rule promulgated under the Securities Act (but with no volume or other restrictions or
limitations including as to manner or timing of sale); and (E) 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,
including any related Shelf Takedown, effected by preparing and filing a registration statement, Prospectus or similar document in compliance
with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration Expenses” shall mean the 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 the Financial Industry Regulatory
Authority, Inc.) and any national securities exchange on which the Common Stock is then listed;

 

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

 

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

 

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

 

(E)              
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with
such Registration including the expenses of any special audits and/or “cold comfort” letters required by or incident to such
performance and compliance;

 

(F)              
reasonable and documented fees and disbursements of counsel (including local and special counsel, to the extent necessary) incurred
in connection with any registration statement or registered offering (including any Registration) covering Registrable Securities; and

 

(G)             
in an Underwritten Offering or Other Coordinated Offering, reasonable and documented fees and expenses not to exceed $50,000 in
the aggregate for each Registration of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders.

 

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

 

“Securities Act” shall mean the 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 Statement, as the case may be.

 

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

 

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

 

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

 

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

 

“Third-Party Investors” shall have the meaning
set forth in the Recitals hereto.

 

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

 

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

 

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

 

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

 

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

 

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Article
II 

REGISTRATIONS AND OFFERINGS

 

Section 2.1              
Shelf Registration.

 

2.1.1          Filing.
Within thirty (30) calendar days following the Closing Date, the Company shall submit to or file with the Commission a Registration
Statement for a Shelf Registration on Form S-1 (the “Form S-1 Shelf”) or a Registration Statement for a
Shelf Registration on Form S-3 (the “Form S-3 Shelf”), if the Company is then eligible to use a Form S-3
Shelf, in each case, covering the resale of all the Registrable Securities (determined as of two (2) business days prior to such
submission or filing) on a delayed or continuous basis and shall use its commercially reasonable efforts to have such Shelf declared
effective as soon as practicable after the filing thereof, but no later than the earlier of (a) the ninetieth (90th) calendar day
(or 120th calendar day if the Commission notifies the Company that it will “review” the Registration
Statement) following the Closing Date, and (b) the tenth (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 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. 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 to permit 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 (i) convert the Form S-1 Shelf (and any Subsequent Shelf Registration Statement) to
a Form S-3 Shelf or (ii) file a Form S-3 Shelf, as the case may be, in each case, as soon as practicable after the Company is
eligible to use Form S-3. The Company’s obligation under this Section 2.1.1, shall, for the avoidance of doubt, be
subject to Section 3.4.

 

2.1.2         
Subsequent Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while
Registrable Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts
to as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including 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 Statement”) registering the resale of all Registrable Securities (determined as of two (2) 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 Statement is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent
Shelf Registration Statement 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 Statement 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 Statement
continuously effective, available for use to permit 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 Statement shall be on Form S-3 to the extent that the Company is eligible to use such form. Otherwise, such Subsequent
Shelf Registration Statement shall be on another appropriate form. The Company’s obligation under this Section 2.1.2, shall,
for the avoidance of doubt, be subject to Section 3.4.

 

2.1.3          Additional
Registrable Securities. Subject to Section 3.4, in the event that any Holder holds Registrable Securities that are not
registered for resale on a delayed or continuous basis, the Company, upon written request of a Holder, 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 by filing a Subsequent Shelf Registration
Statement and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf
Registration Statement shall be subject to the terms hereof; provided, however, that the Company shall only be
required to cause such Registrable Securities to be so covered twice per calendar year for each of the Holders.

 

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2.1.4         
Requests for Underwritten Shelf Takedowns. Subject to Section 3.4, at any time and from time to time when an effective
Shelf is on file with the Commission, a Holder (any of the Holders being in such case, a “Demanding Holder”)
may request to sell all or any portion of its Registrable Securities in an Underwritten Offering that is registered pursuant to the Shelf
(each, an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated to effect
an Underwritten Shelf Takedown if such offering shall include Registrable Securities proposed to be sold by the Demanding Holder, either
individually or together with other Demanding Holders, with an anticipated gross aggregate offering price of at least $10 million (the
 “Minimum Takedown Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written
notice to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf
Takedown. Subject to Section 2.4.4, the 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 initial Demanding Holder’s prior approval
(which shall not be unreasonably withheld, conditioned or delayed). The Sponsor may demand not more than one (1) Underwritten Shelf Takedown
and the other Holders may demand not more than two (2) Underwritten Shelf Takedowns, in each case, pursuant to this Section 2.1.4
in any twelve (12) month period (such rights, in each such case, a “Demand”). 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 Underwriter in an Underwritten Shelf Takedown advises the Demanding Holders in
writing that marketing factors require a limitation of the number of shares to be underwritten, then the Demanding Holders shall so advise
all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities
that may be included in the underwriting (such maximum number of such securities, the “Maximum Number of Securities”)
shall be allocated among all participating Holders thereof, including the Demanding Holders, in proportion (as nearly as practicable)
to the amount of Registrable Securities of the Company owned by each participating Holder; provided, however, that the number
of shares of Registrable Securities to be included in such underwriting shall not be reduced unless all other securities are first entirely
excluded from the underwriting.

 

2.1.6          Withdrawal.
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing such
Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have
the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a
 “Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to
withdraw from such Underwritten Shelf Takedown; provided that the Sponsor or the Holders, as applicable, 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 Sponsor, the Holders or any of their respective Permitted
Transferees, as applicable. 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, unless either (i) such Demanding Holder has
not previously withdrawn any Underwritten Shelf Takedown or (ii) such Demanding Holder 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 the Sponsor or the Holders, as applicable, elect 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 Sponsor or such Holder, as applicable, for purposes of Section
2.1.4. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other
Holders that had elected to participate in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the
Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown prior to its withdrawal
under this Section 2.1.6, 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.

 

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Section 2.2              
Piggyback Registration.

 

2.2.1         
Piggyback Rights. If (but without any obligation to do so) the Company proposes to register (including for this purpose
a registration effected by the Company for holders of capital stock other than the Holders) any of its Common Stock under the Securities
Act in connection with the public offering of such securities solely for cash (other than (i) a registration relating solely to the sale
of securities to participants in a Company stock or other benefit plan, (ii) a transaction covered by Rule 145 under the Securities Act,
(iii) a registration in which the only stock being registered is Common Stock issuable upon conversion of debt securities which are also
being registered, (iv) for a dividend reinvestment plan or (v) any registration on any form which does not include substantially the same
information as would be required to be included in a registration statement covering the sale of the Registrable Securities), then the
Company shall give written notice of such proposed offering to all of the Holders of Registrable Securities as soon as practicable but
not less than ten (10) days before the anticipated filing date of such Registration Statement or, in the case of an Underwritten Offering
pursuant to a Shelf Registration, the applicable “red herring” prospectus or prospectus supplement used for marketing such
offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the
Holders of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such
Holders may request in writing within five (5) days after receipt of such written notice (such registered offering, a “Piggyback
Registration”). Subject to Section 2.2.2, the Company shall 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 agreement to enter
into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

 

2.2.2          Reduction
of Piggyback Registration. If the total amount of securities, including Registrable Securities, requested by Holders of
Registrable Securities to be included in such offering exceeds the amount of securities sold other than by the Company that the
Underwriters determine in their reasonable discretion is compatible with the success of the offering, then the Company shall be
required to include in the offering only that number of such securities, including Registrable Securities, which the Underwriters
determine in their reasonable discretion will not jeopardize the success of the offering (the securities so included to be
apportioned pro rata among the selling security holders according to the total amount of securities entitled to be included therein
owned by each selling security holder or in such other proportions as shall mutually be agreed to by such selling security holders).
For purposes of the preceding parenthetical concerning apportionment, for any selling security holder which is a Holder of
Registrable Securities and which is a partnership or corporation, the partners, retired partners and holders of capital stock of
such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of
the foregoing persons shall be deemed to be a single “selling security holder,” and any pro-rata reduction with respect
to such “selling security holder” shall be based upon the aggregate number of Registrable Securities owned by all
entities and individuals included in such “selling security holder,” as defined in this sentence.

 

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

 

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

 

Section 2.3              
Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade
or Other Coordinated Offering), if requested by the managing Underwriters, each Holder that is an executive officer, director or Holder
in excess of five percent (5%) of the outstanding Common Stock (and for which it is customary for such a Holder to agree to a lock-up)
agrees that it shall not Transfer any shares of Common Stock 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 forty-five (45)-day period (or such
shorter time agreed to by the managing Underwriters) beginning on the date of pricing of such offering, except as expressly permitted
by such lock-up agreement or in the event the managing Underwriters otherwise agree by written consent; provided, however,
with respect to the first Underwritten Offering following the Closing, if the managing Underwriters, in their reasonable discretion, advise
the Company in writing that a lock-up restriction of a period of forty-five (45) or fewer days would have a material adverse impact on
such Underwritten Offering, then such lock-up restrictions shall be for the number of days such managing Underwriters so advise, not to
exceed a period of ninety (90) days from the date of the pricing of any such Underwritten Offering. Each such Holder agrees to execute
a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and conditions
as all such Holders).

 

    9

     

    

 

Section 2.4              
Block Trades; Other Coordinated Offerings.

 

2.4.1          Notwithstanding
any other provision of this Article II, but subject to Section 3.4, at any time and from time to time when an
effective Shelf is on file with the Commission, if a Demanding Holder wishes to engage in (a) an underwritten registered offering
not involving a “roadshow,” an offer commonly known as a “block trade” (a “Block
Trade”) or (b) an “at the market” or similar registered offering through a broker, sales agent or
distribution agent, whether as agent or principal, (an “Other Coordinated Offering”), in each case, with
an anticipated aggregate offering price of, either (x) at least $50 million or (y) all remaining Registrable Securities held by the
Demanding Holder, then such Demanding Holder only needs to notify the Company of the Block Trade or Other Coordinated Offering at
least five (5) business days prior to the day such offering is to commence and the Company shall as expeditiously as possible use
its commercially reasonable efforts to facilitate such Block Trade or Other Coordinated Offering; provided that the Demanding
Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade or Other Coordinated Offering
shall use commercially reasonable efforts to work with the Company and any Underwriters, brokers, sales agents or placement agents
prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering
documentation related to the Block Trade or Other Coordinated Offering.

 

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

 

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

 

2.4.4         
The Demanding Holder in a Block Trade or Other Coordinated Offering shall have the right to select the Underwriters and any brokers,
sale agents or placement agents (if any) for such Block Trade or Other Coordinated Offering (in each case, which shall consist of one
or more reputable nationally recognized investment banks).

 

2.4.5         
A Holder may demand no more than two (2) Block Trades or Other Coordinated Offerings pursuant to this Section 2.4 in any
twelve (12) month period. For the avoidance of doubt, any Block Trade or Other Coordinated Offering 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.

 

Article
III 

COMPANY PROCEDURES 

 

Section 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 including all manners of distribution in such Registration Statement as Holders may reasonably request in connection with
the filing of such Registration Statement and as permitted by law, including distribution of Registrable Securities to a Holder’s
members, security holders or partners), and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1         
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities, in each case, in accordance with Section 2.1.1;

 

    10

     

    

 

3.1.2         
 prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least five percent (5%) 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;

 

3.1.3         
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such
Holders;

 

3.1.4         
prior to any public offering of Registrable Securities, 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 as may be necessary by virtue of the business and operations of the
Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

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

 

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

 

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

 

3.1.8           at
least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such
Registration Statement or Prospectus (or such shorter period of time as may be (a) 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 or (b)
advisable in order to reduce the number of days that sales are suspended pursuant to Section 3.4), furnish a copy thereof to
each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act
that is to be incorporated by reference therein);

 

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3.1.9         
promptly notify the Holders in writing 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;

 

3.1.10        
in the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering, or sale by a broker, placement agent or
sales agent pursuant to such Registration, permit a representative of the Holders, the Underwriters or other financial institutions facilitating
such Underwritten Offering, Block Trade, Other Coordinated Offering or other sale pursuant to such Registration, if any, and any attorney,
consultant or accountant retained by such Holders or Underwriter to participate, at each such person’s or entity’s own expense,
in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection
with the Registration; provided, however, that such representatives, Underwriters or financial institutions agree to confidentiality
arrangements 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, an Other Coordinated Offering or sale by a broker, placement agent or sales agent pursuant to such
Registration (subject to such broker, placement agent or sales agent providing such certification or representation reasonably requested
by the Company’s independent registered public accountants and the Company’s counsel) in customary form and covering such
matters of the type customarily covered by “cold comfort” letters as the managing 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, an Other Coordinated Offering or sale by a broker, placement agent or
sales agent pursuant to such Registration, on the date the Registrable Securities are delivered for sale pursuant to such Registration,
obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the participating
Holders, the broker, placement agents 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 participating Holders, broker, placement agent, sales agent or
Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters, as applicable;

 

3.1.13       
in the event of any Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or
sales agent pursuant to such Registration, enter into and perform its obligations under an underwriting or other purchase or sales agreement,
in usual and customary form, with the managing Underwriter or the broker, placement agent or sales agent of such offering or sale;

 

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

 

    12

     

    

 

3.1.15       
 with respect to an Underwritten Offering pursuant to Section 2.1.4, 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 participating
Holders, consistent with the terms of this Agreement, in connection with such Registration.

 

Notwithstanding the foregoing, the Company shall not be required to
provide any documents or information to an Underwriter or broker, sales agent or placement agent if such Underwriter or broker, sales
agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering involving a registration
as an Underwriter or broker, sales agent or placement agent, as applicable.

 

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

 

Section 3.3              
Requirements for Participation in Registration Statement in Offerings. Notwithstanding anything in this Agreement to the
contrary, if any Holder does not provide the Company with its requested Holder Information, the Company may exclude such Holder’s
Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel,
that such information is necessary to effect the registration of the applicable Registration Statement or Prospectus and such Holder continues
thereafter to withhold such information. No person or entity may participate in any Underwritten Offering or other offering for equity
securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person or entity (i) agrees to sell
such person’s or entity’s securities on the basis provided in any underwriting, sales, distribution or placement arrangements
approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements,
underwriting or other agreements and other customary documents as may be reasonably required under the terms of such underwriting, sales,
distribution or placement 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.

 

Section 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 it has received copies of a supplemented or amended Prospectus
correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as
soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus may
be resumed.

 

3.4.2          If
the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would (a)
require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial statements
that are unavailable to the Company for reasons beyond the Company’s control or (c) in the good faith judgment of the Board,
be seriously detrimental to the Company and its holders of capital stock and it is therefore essential to defer such filing, initial
effectiveness or continued use at such time, the Company shall have the right, upon giving prompt written notice of such action to
the Holders (which notice shall not specify the nature of the event giving rise to such delay or suspension), delay the filing or
initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time determined in good faith by
the Company to be necessary for such purpose. In the event the Company exercises its rights under this Section 3.4.2, 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.

 

    13

     

    

 

3.4.3         
(a) During the period starting with the date ninety (90) days prior to the Company’s good faith estimate of the date of the
filing of, and ending on a date ninety (90) days after the effective date of, a Company-initiated Registration and provided that the Company
continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable Shelf Registration
Statement, or (b) if, pursuant to Section 2.1.4, Holders have requested an Underwritten Shelf Takedown and the Company and Holders
are unable to obtain the commitment of Underwriters to firmly underwrite such offering, the Company may, upon giving prompt written notice
of such action to the Holders, delay any other registered offering pursuant to Section 2.1.4 or Section 2.4 for not more
than ninety (90) consecutive calendar days or more than one hundred twenty (120) total calendar days in each case during any twelve (12)-month
period.

 

Section 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 file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange
Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly
filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed to have
been furnished or delivered to the Holders pursuant to this Section 3.5. The Company further covenants that it shall take such
further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell the Registrable
Securities held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule
144 promulgated under the Securities Act (or any successor rule then in effect). Upon the request of any Holder, the Company shall deliver
to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

Article
IV 

INDEMNIFICATION AND CONTRIBUTION 

 

Section 4.1              
Indemnification.

 

4.1.1          The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, managers,
directors, affiliates, and agents and each person or entity who controls such Holder (within the meaning of the Securities Act),
against all losses, claims, damages, liabilities and out-of-pocket expenses (including, without limitation, reasonable outside
attorneys’ fees) caused by, resulting from, arising out of or based upon 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, in the case of the Prospectus or preliminary Prospectus in the light of the circumstances under which
they were made, 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 or entity 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.

 

    14

     

    

 

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, Prospectus or preliminary Prospectus (the “Holder Information”) and, to
the extent permitted by law, shall indemnify the Company, its officers, managers, directors, affiliates and agents and each person or
entity who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket
expenses (including, without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement
of material fact contained 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, in the case of the Prospectus or preliminary Prospectus in the light of the circumstances under which they were
made, not misleading, but only to the extent that such untrue statement or omission is contained in (or not contained in, in the case
of an omission) any information or affidavit so furnished in writing 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 or entity 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.

 

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, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory
to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement
made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is
not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one
counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified
party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim.
No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement
which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms
of such settlement) or which settlement 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.

 

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4.1.4          The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director or controlling person 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 from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result
of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or 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 Section 4.1.1, Section 4.1.2 and Section 4.1.3 above, any legal or other fees, charges
or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree
that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro rata allocation or
by any other method of allocation, which does not take account of the equitable considerations referred to in this Section 4.1.5.
No person 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.

 

Article
V 

LOCK UP

 

5.1.1         
Subject to Section 5.1.2 below, the holders (the “Lock-up Holders”) of any shares of Common Stock
issued to the Sponsor prior to the Closing Date or to Mondee LLC in connection with the Business Combination Agreement or to Earn-Out
Holders in connection with the Earn-Out Agreement, may not Transfer any Lock-up Shares until the end of the Lock-up Period (the “Lock-up”).

 

5.1.2          Notwithstanding
the provisions set forth in Section 5.1.1 above, the Lock-up Holders may Transfer the Lock-up Shares during the Lock-up
Period (i) as a bona fide gift or charitable contribution; (ii) to a trust, or other entity formed for estate planning purposes for
the primary benefit of the spouse, domestic partner, parent, sibling, child or grandchild of such Lock-up Holder or any other person
with whom such Lock-up Holder has a relationship by blood, marriage or adoption not more remote than first cousin; (iii) by will or
intestate succession upon the death of the Lock-up Holder; (iv) pursuant to a qualified domestic order, court order or in connection
with a divorce settlement; (v) if such Lock-up Holder is a corporation, partnership (whether general, limited or otherwise), limited
liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or
other business entity that controls, is controlled by or is under common control or management with the Lock-up Holder, or (B) to
partners, limited liability company members, Earn-Out Holders or stockholders of the Lock-up Holder, including, for the avoidance of
doubt, where the Lock-up Holder is a partnership, to its general partner or a successor partnership or fund, or any other funds
managed by such partnership; (C) by virtue of the laws of the state or jurisdiction of the entity’s organization and the
entity’s organizational documents upon dissolution of the entity; (vi) pursuant to transactions in the event of completion of
a liquidation, merger, consolidation, stock exchange, reorganization, tender offer or other similar transaction which results in all
of the corporation’s security holders having the right to exchange their shares of Common Stock for cash, securities or other
property; (vii) to satisfy tax withholding obligations in connection with the exercise of options or warrants to purchase shares of
Common Stock of the corporation or the vesting of stock-based awards; (viii) in payment on a “net exercise” or
 “cashless” basis of the exercise or purchase price with respect to the exercise of options or warrants to purchase
shares of Common Stock of the corporation; (ix) pursuant to transactions relating to Common Stock or other securities convertible
into or exercisable or exchangeable for Common Stock acquired in open market transactions after the Closing Date, provided
that no such transaction is required to be, or is, publicly announced (whether on Form 4, Form 5 or otherwise, other than a required
filing on Schedule 13F, 13G or 13G/A) during the Lock-up Period; or (x) in connection with the grant and maintenance of a bona fide
lien, security interest, pledge or other similar encumbrance to a nationally or internationally recognized financial institution
with assets of not less than $10 billion in connection with a loan; provided that the Lock-up Holder shall provide the Company prior
written notice informing them of any public filing, report or announcement made by or on behalf of the Lock-up Holder with respect
thereto.

 

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Article
VI 

MISCELLANEOUS

 

Section 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: Mondee Holdings, Inc., 951 Mariners Island
Blvd., Ste. 130, San Mateo, CA 94404 Attn: Dan Figenshu, and, if to any Holder, at such Holder’s address, electronic mail address
or facsimile number 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 thirty (30) days after
delivery of such notice as provided in this Section 6.1.

 

Section 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          Subject
to Section 6.2.4 and Section 6.2.5, this Agreement and the rights, duties and obligations of a Holder hereunder may be
assigned in whole or in part to such Holder’s Permitted Transferees; provided, that, with respect to the Holders and
the Sponsor, the rights hereunder that are personal to such Holders and may not be assigned or delegated in whole or in part, except
that (w) each of the Holders shall be permitted to transfer its rights hereunder as such Holders to one or more affiliates or any
direct or indirect partners, members or equity holders of such Holder (it being understood that no such transfer shall reduce any
rights of such Holder or such transferees) and (x) the Sponsor shall be permitted to transfer its rights hereunder as the Sponsor to
one or more Permitted Transferees of the Sponsor (it being understood that no such transfer shall reduce any rights of the Sponsor
or such transferees).

 

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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 Permitted Transferees.

 

6.2.4         
This Agreement shall not confer any rights or benefits on any persons or entities that are not parties hereto, other than as expressly
set forth in this Agreement and 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 (i) written notice of such assignment as provided in Section 6.1 hereof
and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made
other than as provided in this Section 6.2 shall be null and void.

 

Section 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.
The words “execution,” “signed,” “signature,” “delivery,” and words of like import in
or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures,
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 delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the
parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

 

Section 6.4              
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES
EXPRESSLY AGREE THAT (1) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AND (2) THE VENUE FOR
ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURTS SITTING IN NEW YORK COUNTY IN THE STATE OF NEW YORK.

 

Section 6.5              
TRIAL BY JURY. EACH PARTY HERETO 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 AND UNCONDITIONALLY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING
OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES
(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 THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, BY AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
6.5.

 

    18

     

    

 

Section 6.6              
Amendments and Modifications. Upon the written consent of (a) the Company and (b) the Holders
of a majority of the total Registrable Securities, 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 notwithstanding the foregoing, any amendment hereto or waiver hereof shall also require the written consent of each Holder so long
as such Holder and its affiliates hold, in the aggregate, at least five percent (5%) of the outstanding shares of Common Stock of the
Company; and provided, further, that any amendment hereto or waiver hereof that adversely affects one Holder, solely in
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 or thereunder
by such party. 

 

Section 6.7              
Other Registration Rights. Other than (i) the Third-Party Investors who have registration rights with respect to their Investor
Shares pursuant to their respective Subscription Agreements, 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. For so long as any Holder and such Holder’s affiliates hold, in the aggregate, at least
five percent (5%) of the outstanding shares of Common Stock of the Company, the Company hereby agrees and covenants that it will not grant
rights to register any Common Stock (or securities convertible into or exchangeable for Common Stock) under the Securities Act pursuant
to which such grantee would have more favorable Demands or treatment with respect to pro rata reduction than those granted to the Holders
hereunder without the prior written consent of such Holder.

 

Section 6.8              
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 Section 3.5 and
Article IV shall survive any termination.

 

Section 6.9              
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.

 

Section 6.10           
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 each of the Holders of a majority of the total Registrable Securities (in each case, so long as
such Holder and its affiliates hold, in the aggregate, at least five percent (5%) of the outstanding shares of Common Stock of the Company),
the Company may make any person or entity who acquires Common Stock or rights to acquire Common Stock 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 Common Stock of the Company then owned, or underlying any rights then
owned, by such Additional Holder (the “Additional Holder Common Stock”) 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
Common Stock.

 

    19

     

    

 

Section 6.11           
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. 

 

Section 6.12           
Entire Agreement. 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.

 

[SIGNATURE PAGES FOLLOW]

 

    20

     

    

 

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

 

	 	COMPANY:
	 	 
	 	Mondee
    Holdings, Inc.
	 	a
    Delaware corporation
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 
	 	 
	 	HOLDERS:
	 	 
	 	ITHAX
    Acquisition Sponsor LLC,
	 	a
    Delaware limited liability company
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	Mondee
    Holdings, LLC,
	 	a
    Delaware limited liability company
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	 
	 	[Third-Party
    Investors]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	[Earn-Out
    Holders]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Registration
Rights Agreement]

 

    21

     

    

 

Exhibit A 

REGISTRATION RIGHTS AGREEMENT JOINDER

 

The undersigned is executing and delivering this joinder (this “Joinder”)
pursuant to the Registration Rights Agreement, dated as of [●], 2022 (as the same may hereafter be amended, the “Registration
Rights Agreement”), among Mondee Holdings, Inc., a Delaware corporation (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 shares of Common Stock shall be included as Registrable
Securities under the Registration Rights Agreement to the extent provided therein; provided, however, that the undersigned
and its permitted assigns (if any) shall not have any rights as Holders, and the undersigned’s (and its transferees’) shares
of Common Stock shall not be included as Registrable Securities, for purposes of the Excluded Sections.

 

For purposes of this Joinder, “Excluded Sections”
shall mean [ __________].

 

Accordingly, the undersigned has executed and delivered this Joinder
as of the __________ day of __________, 2022.

	 	 
	 	 
	 	 

 

	 	 	 
	 	 	 

 

	 	 
	 	 

 

Signature of Stockholder

	 	 
	 	 
	Print Name of Stockholder	 
	 	 
	Its:	 
	Address:	      	 
	 	 
	 	 
	Agreed and Accepted as of	 

 

____________, 20__

 

    22

     

    

 

[________] 

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

    23Exhibit 10.2

 

EXECUTION VERSION

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into on December 20, 2021, by and between ITHAX Acquisition Corp., a Cayman
Islands exempted company (the “Issuer”), and the subscriber party set forth on the signature page hereto (“Subscriber”).

 

WHEREAS, the Issuer is concurrently
with the execution and delivery hereof entering into that certain Business Combination Agreement (as amended or modified, the “Business
Combination Agreement”; capitalized terms used herein without definition shall have the meanings ascribed thereto in the Business
Combination Agreement), by and among the Issuer, Ithax Merger Sub I, LLC, a Delaware limited liability company and wholly-owned subsidiary
of Issuer (“Merger Sub I”), Ithax Merger Sub II, LLC, a Delaware limited liability company and wholly-owned subsidiary
of Issuer(“Merger Sub II”) and Mondee Holdings II, Inc. a Delaware corporation (together with its direct and indirect
subsidiaries, “Target”), in substantially the same form provided to Subscriber prior to the date hereof, pursuant to
which, among other transactions, Issuer will de-register from the Register of Companies in the Cayman Islands pursuant to the Cayman Islands
Companies Act (as revised) and become domesticated as a corporation in the State of Delaware by complying with Section 388 of the Delaware
General Corporation Law (the “Domestication”) and Merger Sub I will merge with and into the Target, with Target surviving
as a wholly-owned subsidiary of Issuer (the “First Merger”), and immediately following the First Merger, Target will
merge with and into Merger Sub II, with Merger Sub II surviving as a wholly-owned subsidiary of Issuer (the “Second Merger”,
collectively with the Domestication and the First Merger, the “Transactions”);

 

WHEREAS, in connection with
the Transactions and contingent on the closing of the Transactions pursuant to the terms and subject to the conditions set forth in this
Subscription Agreement, Subscriber desires to subscribe for and purchase from the Issuer that number of shares of the Issuer’s Class A
common stock, par value $0.001 per share (the “Class A Shares”), as set forth on the signature page hereto (the
 “Acquired Shares”), for a purchase price of $10.00 per share (the “Per Share Price”) and an aggregate
purchase price set forth on the signature page hereto (the “Purchase Price”), and the Issuer desires to issue and sell
to Subscriber the Acquired Shares in consideration of the payment of the Purchase Price by or on behalf of Subscriber to the Issuer on
or prior to the Closing (as defined below);

 

WHEREAS, the Issuer and Subscriber
are executing and delivering this Subscription Agreement in reliance upon the exemption from securities registration afforded by Section
4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS, in connection with
the Transactions, certain other “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) or institutional
 “accredited investors” (as such term is defined in Rule 501 under the Securities Act) (each an “Other Subscriber”)
have (severally and not jointly) entered into separate subscription agreements with the Issuer (the “Other Subscription Agreements”),
substantially similar to this Agreement, pursuant to which such investors have agreed to purchase Class A Shares on the Closing Date (as
defined below) at the Per Share Price (the “Other Acquired Shares”); and

 

WHEREAS, the aggregate amount
of Class A Shares to be sold by Issuer pursuant to this Subscription Agreement and the Other Subscription Agreements as of the date hereof
equals 5,000,000 Class A Shares at the Per Share Price.

 

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.                  
Subscription. Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and the
Issuer hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such subscription and
issuance, the “Subscription”). Subscriber acknowledges and agrees that, as a result of the Domestication, the
Acquired Shares that will be purchased by the Subscriber and issued by the Issuer pursuant hereto shall be shares of common stock in a
Delaware corporation (and not, for the avoidance of doubt, ordinary shares in a Cayman Islands exempted company).

 

     

     

    

 

2.             
Closing.

 

(a)               
The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the consummation of the
First Merger and shall occur substantially concurrently therewith. Not less than five business days prior to the scheduled closing date
of the Transactions (the “Closing Date”), the Issuer shall provide written notice to Subscriber (the “Closing
Notice”) of (i) such Closing Date, (ii) that the Issuer reasonably expects all conditions to the closing of the Transactions
to be satisfied or waived and (iii) containing wire instructions for the payment of the Purchase Price. Subscriber shall deliver to the
Issuer no later than one business day before the Closing Date (as specified in the Closing Notice) or such other date as otherwise agreed
to by the Issuer and Subscriber (such date, the “Purchase Price Payment Date”) the Purchase Price for the Acquired
Shares by wire transfer of U.S. dollars in immediately available funds (1) to the account(s) specified by the Issuer in the Closing Notice,
designated by the Issuer prior to the Closing Date for the benefit of Subscriber until the Closing Date and any other information that
is reasonably requested in the Closing Notice in order for the Issuer to issue the Subscriber’s Acquired Shares, including, without
limitation, the legal name of the person in whose name such Acquired Shares are to be issued and a duly executed Internal Revenue Service
Form W-9 or W-8, as applicable, or (2) in the case of a Subscriber that is an “investment company” registered under the Investment
Company Act of 1940, as amended, to an account specified by the Issuer and subject to such procedures otherwise mutually agreed by Subscriber
and the Issuer (“Alternative Settlement Procedures”). For the avoidance of doubt, mutually agreeable Alternative Settlement
Procedures shall include, without limitation, the Subscriber delivering to the Issuer on the Closing Date the Purchase Price for the Acquired
Shares by wire transfer of U.S. dollars in immediately available funds to the account specified by the Issuer in the Closing Notice against
delivery to the undersigned of the Acquired Shares in book entry form as set forth in the following sentence. On the Closing Date, the
Issuer shall deliver to Subscriber (A) the Acquired Shares in book entry form (or, if requested by Subscriber in writing in advance
of the Closing, in certificated form, duly executed on behalf of the Issuer and countersigned by the Issuer’s transfer agent (the
 “Transfer Agent”)), free and clear of any liens or other restrictions whatsoever (other than those arising under state
or federal securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian
designated by Subscriber, as applicable, and (B) a copy of the records of the Transfer Agent showing Subscriber as the owner of the
Acquired Shares on and as of the Closing Date (the “Subscriber’s Deliveries”); provided,
however, that the Issuer’s obligation to issue the Acquired Shares to Subscriber is contingent upon Issuer having received
the Purchase Price in full in accordance with this Section 2. Unless otherwise provided pursuant to Alternative Settlement Procedures,
upon the transfer of Subscriber’s Deliveries by the Issuer to Subscriber (or its nominee in accordance with its delivery instructions),
the Subscriber shall, on the Closing Date, release the Purchase Price to the Issuer. In the event the closing of the Transactions does
not occur within three business days of the Closing Date specified in the Closing Notice, unless otherwise agreed by the Issuer and Subscriber,
the Issuer shall promptly (but not later than two business days thereafter) return the Purchase Price to Subscriber by wire transfer of
U.S. dollars in immediately available funds to the account specified by Subscriber, and any book entries representing the Acquired Shares
or share certificates shall be deemed cancelled. Notwithstanding such return or cancellation, failure
to close on the Closing Date specified in the Closing Notice shall not, by itself, be deemed to be a failure of any of the conditions
to Closing set forth in this Section 2 to be satisfied or waived, and unless and until this
Subscription Agreement is terminated in accordance with Section 6 hereof, Subscriber shall remain obligated to (x) redeliver funds
to the Issuer following the Issuer’s delivery to Subscriber of a new Closing Notice with a new Closing Date in accordance with this
Subscription Agreement and (y) upon satisfaction or waiver of the conditions set forth in Section 2(b), consummate the Closing
immediately prior to or substantially concurrently with the consummation of the Transactions. For purposes of this Subscription Agreement,
 “business day” shall mean a day, other than a Saturday or Sunday, on which commercial banks in New York, New York, are open
for the general transaction of business. 

 

    -2-

     

    

 

(b)               
The Closing shall be subject to the satisfaction, or waiver by each of the parties hereto, of the
conditions that, on the Closing Date:

 

(i)                
solely with respect to Subscriber, the representations and warranties made by the Issuer (other than the representations and warranties
set forth in Section 3(b), Section 3(c) and Section 3(h)) in this Subscription Agreement shall be true and correct
in all material respects as of the Closing Date (other than those representations and warranties expressly made as of an earlier date,
which shall be true and correct in all material respects as of such date, and other than those representations and warranties that are
qualified as to materiality or Material Adverse Effect (as defined below), which shall be true and correct in all respects as of the Closing
Date), the representations and warranties made by the Issuer set forth in Section 3(b), Section 3(c) and Section 3(h)
shall be true and correct in all respects as of the Closing Date (other than those representations and warranties expressly made as of
an earlier date, which shall be true and correct in all respects as of such date), in each case, without giving effect to the consummation
of the Transactions;

 

(ii)              
solely with respect to the Issuer, (1) the representations and warranties made by Subscriber in this Subscription Agreement shall
be true and correct in all material respects as of the Closing Date (other than those representations and warranties expressly made as
of an earlier date, which shall be true and correct in all material respects as of such date, and other than those representations and
warranties that are qualified as to materiality, which shall be true and correct in all respects as of the Closing Date), in each case,
without giving effect to the consummation of the Transactions, and (2) all obligations, covenants and agreements of the Subscriber required
to be performed by it at or prior to the Closing Date shall have been performed in all material respects.

 

(iii)             
solely with respect to the Issuer, Subscriber shall have delivered the Purchase Price in compliance with the terms of this Subscription
Agreement;

 

(iv)             
No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Order which is then in
effect and has the effect of making the First Merger, Second Merger or the other Transactions illegal or otherwise prohibiting consummation
of the First Merger, Second Merger or the other Transactions.

 

(v)               
the Issuer’s equityholders shall have approved the issuance of the Acquired Shares and Other Acquired Shares as and if required
by The Nasdaq Stock Market (“Nasdaq”) rules;

 

(vi)             
solely with respect to Subscriber, the Issuer shall have made such filings with Nasdaq as are necessary for the listing of the
Acquired Shares and Other Acquired Shares and such Acquired Shares and Other Acquired Shares shall have been approved for listing on Nasdaq,
subject to notice of issuance thereof;

 

(vii)            
all conditions precedent to the closing of the Transactions set forth in the Business Combination Agreement shall have been satisfied
or waived (as determined by the parties to the Business Combination Agreement) (other than those conditions that by their nature may only
be satisfied at the closing of the Transactions, including to the extent that any such condition is dependent upon the consummation of
the purchase and sale of the Acquired Shares pursuant to this Subscription Agreement, but subject to satisfaction or waiver by such party
of such conditions as of the closing of the Transactions), and the closing of the Transactions shall be scheduled to occur substantially
concurrently with or immediately following the Closing;

 

    -3-

     

    

 

(viii)           
solely with respect to Subscriber, the Issuer shall have performed, satisfied and complied in all material respects with the covenants
and agreements required by this Subscription Agreement to be performed, satisfied or complied with by the Issuer at or prior to the Closing,
except where the failure of such performance or compliance would not reasonably be expected to prevent, materially delay, or materially
impair the ability of the Issuer to consummate the Closing; and

 

(ix)             
except to the extent consented to in writing by Subscriber, the Business Combination Agreement (as filed with the Commission (as
defined below) on or shortly after the date hereof) shall not have been amended, modified, supplemented or waived in a manner that would
reasonably be expected to materially and adversely affect the economic benefits that Subscriber (in its capacity as such) would reasonably
expect to receive under this Subscription Agreement.

 

(c)               
Upon the terms and subject to the conditions set forth in this Subscription Agreement, Subscriber
and the Issuer shall use commercially reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, and
to reasonably assist and cooperate with the other party hereto in doing all things reasonably necessary, proper or advisable under applicable
legal requirements to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this
Subscription Agreement.

 

3.                  
Issuer Representations and Warranties. The Issuer represents and warrants to Subscriber and each Placement Agent (as defined
below) that:

 

(a)               
The Issuer has been duly incorporated and is validly existing as an exempted company in good standing
under the laws of the Cayman Islands. As of the Closing Date, immediately following the Domestication, the Issuer will be duly incorporated,
validly existing as a corporation in good standing under the laws of the State of Delaware. The Issuer has corporate power and authority
to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations
under this Subscription Agreement.

 

(b)               
The Acquired Shares have been duly authorized by the Issuer and, when issued and delivered to Subscriber
against full payment for the Acquired Shares in accordance with the terms of this Subscription Agreement, the Acquired Shares will be
validly issued, fully paid and non-assessable, free and clear of all liens or other restrictions (except as otherwise stated herein) and
will not have been issued in violation of or subject to any preemptive or similar rights created under the Issuer’s organizational
documents (as in effect at such time of issuance) or under the laws of the Cayman Islands or laws of the State of Delaware, as the case
may be, under any agreement or instrument to which the Issuer is a party or by which the Issuer is bound, or otherwise.

 

(c)               
This Subscription Agreement, the Business Combination Agreement, the Other Subscription Agreements
and any other agreements related to or executed in connection with the Transactions (collectively, the “Transaction Documents”)
have been duly authorized, executed and delivered by the Issuer and, assuming that the Transaction Documents have been duly authorized,
executed and delivered by the other parties thereto, are valid and binding obligations of the Issuer, and are enforceable against it in
accordance with their terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether
considered at law or equity.

 

    -4-

     

    

 

(d)               
The execution, delivery and performance of this Subscription Agreement, including the issuance
and sale of the Acquired Shares and other transactions contemplated hereby, do not and 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 Issuer pursuant to the terms of (i) any indenture, mortgage, deed of trust,
loan agreement, lease, license or other agreement or instrument to which the Issuer is a party or by which the Issuer is bound or to which
any of the property or assets of the Issuer is subject; (ii) the organizational documents of the Issuer; or (iii) any statute
or any judgment, order, rule or regulation of any court or governmental agency, taxing authority or regulatory body, domestic or foreign,
having jurisdiction over the Issuer or any of its properties, that, in the case of clause (i) or (iii), would reasonably be expected to
have a Material Adverse Effect. For purposes of this Subscription Agreement, a “Material Adverse Effect” means an event,
change, development, occurrence, condition or effect with respect to the Issuer and its subsidiaries, taken together as a whole (on a
consolidated basis), that, individually or in the aggregate, would reasonably be expected to have a material adverse effect on the business,
properties, assets, liabilities, operations, financial condition, stockholders’ equity or results of operations of the Issuer or
its respective subsidiaries individually or taken as a whole and including the combined company after giving effect to the Transactions,
or materially affect, impede, or prevent the Issuer’s ability to consummate the (i) transactions contemplated hereby, including
the issuance and sale of the Acquired Shares or (ii) the Transactions. 

 

(e)               
There are no securities or instruments issued by or to which the Issuer is a party containing anti-dilution
or similar provisions that will be triggered by the issuance of (i) the Acquired Shares, (ii) the shares to be issued pursuant
to any Other Subscription Agreement or (iii) the shares to be issued pursuant to the Transactions, in each case, that have not been or
will not be validly waived on or prior to the Closing Date, including such terms of the shares of the Issuer’s Class B common stock,
par value $0.001 per share (the “Class B Shares”), pursuant to the terms of the Issuer’s certificate of incorporation.

 

(f)                
The Issuer is not in default or violation (and no event has occurred which, with notice or the
lapse of time or both, would constitute a default or violation) of any term, condition or provision of (i) the organizational documents
of the Issuer, (ii) any loan or credit agreement, guarantee, note, bond, mortgage, indenture, lease or other agreement, permit, franchise
or license to which, as of the date of this Subscription Agreement, the Issuer is a party or by which the Issuer’s properties or
assets are bound or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency, taxing authority
or regulatory body, domestic or foreign, having jurisdiction over the Issuer or any of its properties, except, in the case of clauses
(ii) and (iii), for defaults or violations that have not had and would not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect.

 

(g)               
The Issuer 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 by the Issuer of this Subscription Agreement or
the Transactions (including, without limitation, the issuance of the Acquired Shares), other than (i) the filing with the Securities
and Exchange Commission (the “Commission”) of the Registration Statement (as defined below), (ii) filings required
by applicable state securities laws, (iii) the filing of notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
if applicable; (iv) those required by Nasdaq, including with respect to obtaining approval of the Issuer’s equityholders; (v)
those that will be obtained on or prior to the Closing (including those required to consummate the Transaction as provided under the Business
Combination Agreement), (vi) any filing, the failure of which to obtain would not reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect; (vii) as set forth in the Business Combination Agreement; and (viii) the filing of a Notice
of Exempt Offering of Securities on Form D with the Commission under Regulation D of the Securities Act.

 

    -5-

     

    

 

(h)               
As of the date of this Subscription Agreement the authorized capital stock of the Issuer consists of (i) 1,000,000 preference shares,
par value $0.001 per share (“Preference Shares”) and (ii) 110,000,000 ordinary shares, par value $0.001 per share (the
 “Ordinary Shares”), including (1) 100,000,000 Class A Ordinary Shares and (2) 10,000,000 Class B Ordinary Shares. As
of the date of this Subscription Agreement, (i) no Preference Shares are issued and outstanding, (ii) 24,825,000 Class A Ordinary
Shares are issued and outstanding, (iii) 6,037,500 Class B Ordinary Shares are issued and outstanding and (iv) 12,075,000 redeemable
warrants and 337,500 private placement warrants are outstanding, none of which are exercisable on or prior to the Closing. All (i) issued
and outstanding Class A Shares and Class B Shares have been duly authorized and validly issued, are fully paid and are non-assessable
and are not subject to and were not issued in violation of any preemptive rights and (ii) outstanding warrants have been duly authorized
and validly issued, are fully paid and are not subject to and were not issued in violation of any preemptive rights. Except as set forth
above and pursuant to the Other Subscription Agreements and the Business Combination Agreement, there are no outstanding options, warrants
or other rights to subscribe for, purchase or acquire from the Issuer any Ordinary Shares or other equity interests in the Issuer, or
securities convertible into or exchangeable or exercisable for such equity interests. As of the date hereof, the Issuer has no subsidiaries
and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated.
There are no shareholder agreements, voting trusts or other agreements or understandings to which the Issuer is a party or by which it
is bound relating to the voting of any securities of the Issuer, other than (i) as set forth in the SEC Reports (as defined below) and
(ii) as contemplated by the Business Combination Agreement. Except as disclosed in the SEC Reports, as of the date hereof, the Issuer
had no outstanding indebtedness and will not have any outstanding long-term indebtedness as of the Closing Date.

 

(i)                
The Issuer is in compliance with all applicable laws and has not received any written communication from a governmental entity
that alleges that the Issuer 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, individually or in the aggregate, be reasonably likely to have a Material
Adverse Effect.

 

(j)                
The issued and outstanding Class A Ordinary Shares are registered pursuant to Section 12(b)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are listed for trading on Nasdaq under
the symbol “ITHX” (it being understood that the trading symbol will be changed in connection with the Transaction). There
is no suit, action, proceeding or investigation pending or, to the knowledge of the Issuer, threatened against the Issuer by Nasdaq or
the Commission with respect to any intention by such entity to deregister the Class A Ordinary Shares or prohibit or terminate the listing
of the Class A Ordinary Shares on Nasdaq, excluding, for the purposes of clarity, the customary ongoing review by Nasdaq of the Issuer’s
continued listing application in connection with the Transactions. The Issuer has taken no action that is designed to terminate or is
reasonably expected to result in the termination of the registration of the Class A Ordinary Shares under the Exchange Act or the
listing of the Class A Ordinary Shares on Nasdaq and is in compliance in all material respects with the listing requirements of Nasdaq.

 

(k)               
Assuming the accuracy of Subscriber’s representations and warranties set forth in Section 4
of this Subscription Agreement and each of the Other Subscribers under their respective Other Subscription Agreement, no registration
under the Securities Act is required for the offer and sale of the Acquired Shares or the Other Acquired Shares by the Issuer to Subscriber
and to the Other Subscribers, as applicable, in the manner contemplated by this Subscription Agreement and the Other Subscription Agreements.
The Acquired Shares and the Other Acquired Shares (i) were not offered by any form of general solicitation or general advertising 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.

 

    -6-

     

    

 

(l)                
Each report, statement and form (including exhibits and other information incorporated therein) filed by the Issuer with the Commission
under Sections 13(a), 14(a) or 15(d) of the Exchange Act or filed pursuant to the Securities Act since its initial registration of the
Class A Ordinary Shares (the “SEC Reports”) when filed complied in all material respects with the requirements of the
Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder. None of the SEC Reports filed
under the Exchange Act or the Securities Act (except to the extent that information contained in any SEC Report has been superseded by
a later timely filed SEC Report) contained, when filed, any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein not misleading, in the case of any SEC Report that is a registration
statement, or included, when filed, any untrue statement of a material fact or omitted to state a material fact necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading, in the case of all other SEC Reports.
The Issuer has timely filed each SEC Report that the Issuer was required to file with the Commission since its inception. There are no
material outstanding or unresolved comments in comment letters from the Commission staff with respect to any of the Issuer’s SEC
Reports. In addition, the Issuer has made available to Subscriber (including via the Commission’s EDGAR system) a copy of the SEC
Reports since its initial registration of the Class A Ordinary Shares with the Commission. Each of the financial statements (including,
in each case, any notes thereto) of the Issuer contained in the SEC Reports was prepared in accordance with U.S. generally accepted accounting
principles applied on a consistent basis throughout the periods indicated (except as may be indicated in the notes thereto or, in the
case of unaudited statements, as permitted by the Quarterly Report on Form 10-Q of the Commission), each complied in all material respects
with the rules and regulations of the Commission with respect thereto as in effect at the time of filing and each fairly presents, in
all material respects, the financial position, results of operations and cash flows of the Issuer as at the respective dates thereof and
for the respective periods indicated therein.

 

(m)             
Except for such matters as have not had and would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect, there is no (i) investigation, action, suit, claim or other proceeding, in each case
by or before any governmental authority pending, or, to the knowledge of the Issuer, threatened against the Issuer or Target or (ii) judgment,
decree, injunction, ruling or order of any governmental entity outstanding against the Issuer or Target.

 

(n)               
Except for placement fees payable to the Placement Agents, the Issuer has not paid, and is not
obligated to pay, any brokerage, finder’s or other fee or commission in connection with its issuance and sale of the Acquired Shares,
including, for the avoidance of doubt, any fee or commission payable to any equityholder or affiliate of the Issuer and such relationships
shall not have any liability on Subscriber. The Issuer is solely responsible for the payment of any fees, costs, expenses and commissions
of the Placement Agents.

 

(o)               
Except as provided in this Subscription Agreement and the Other Subscription Agreements, none of
the Issuer, its subsidiaries or any of their affiliates, nor any person acting on their behalf has, directly or indirectly, made any offers
or sales of any security or solicited any offers to buy any security, under circumstances that would require registration of the issuance
of any of the Acquired Shares under the Securities Act, whether through integration with prior offerings pursuant to Rule 502(a) of the
Securities Act or otherwise.

 

(p)               
Neither the Issuer nor any of its subsidiaries has taken any steps to seek protection pursuant
to any law or statute relating to bankruptcy, insolvency, reorganization, receivership, liquidation, administration or winding up or failed
to pay its debts when due, nor does the Issuer or any subsidiary have any knowledge or reason to believe that any of their respective
creditors intend to initiate involuntary bankruptcy proceedings or seek to commence an administration.  

 

    -7-

     

    

 

(q)               
The Issuer has not entered into any side letter or similar agreement with any Other Subscriber
or any other investor relating to such Other Subscriber’s or other investor’s direct or indirect investment in the Issuer,
other than the Business Combination Agreement, the Other Subscription Agreements, the Registration Rights Agreement (as defined below)
to the extent that an Other Subscriber is party thereto, or any side letter or similar agreement unrelated to such Acquired Shares or
whose terms and conditions are not materially more advantageous to such Other Subscriber than Subscriber hereunder (other than terms particular
to the legal or regulatory requirements of such Other Subscriber or its affiliates or related persons). The Other Subscription Agreements
reflect the same Per Share Price and other material terms and conditions with respect to the purchase of the Other Acquired Shares that
are no more favorable to such Other Subscriber thereunder than the terms and conditions of this Subscription Agreement (other than terms
particular to the legal or regulatory requirements of such Other Subscriber or its affiliates or related persons). The Other Subscription
Agreements have not been amended in any material respect following the date of this Subscription Agreement.

 

(r)                
The Issuer is not, and immediately after receipt of payment for the Acquired Shares, and consummation
of the Transactions, will not be, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

(s)                
There has been no action taken by the Issuer, or, to the knowledge of the Issuer, any officer,
director, equityholder, manager, employee, agent or representative of the Issuer, in each case, acting on behalf of the Issuer, in violation
of any applicable Anti-Corruption Laws (as herein defined), (i) the Issuer has not been convicted of violating any Anti-Corruption Laws
or subjected to any investigation by a governmental authority for violation of any applicable Anti-Corruption Laws, (ii) the Issuer has
not conducted or initiated any internal investigation or made a voluntary, directed, or involuntary disclosure to any governmental authority
regarding any alleged act or omission arising under or relating to any noncompliance with any Anti-Corruption Laws, and (iii) the Issuer
has not received any written notice or citation from a governmental authority for any actual or potential noncompliance with any applicable
Anti-Corruption Laws. As used herein, “Anti-Corruption Laws” means any applicable laws relating to corruption and bribery,
including the U.S. Foreign Corrupt Practices Act of 1977 (as amended), the UK Bribery Act 2010, the Anti-Money Laundering Regulations
(2020 Revision) of the Cayman Islands, and any similar law that prohibits bribery or corruption. 

 

(t)                
The Class A Ordinary Shares are eligible for clearing through The Depository Trust Company (the
 “DTC”), through its Deposit/Withdrawal at Custodian (“DWAC”) system, and the Issuer is eligible
and participating in the Direct Registration System (“DRS”) of DTC with respect to the Class A Ordinary Shares. The
Transfer Agent is a participant in DTC’s Fast Automated Securities Transfer Program. 

 

(u)               
The Issuer acknowledges that there have been no, and in issuing the Acquired Shares the Issuer
is not relying on any, representations, warranties, covenants and agreements made to the Issuer by Subscriber, any of its officers, directors
or representatives or any other person or entity, expressly or by implication, other than those representations, warranties, covenants
and agreements expressly stated in this Subscription Agreement.

 

(v)               
Upon the Closing, the Acquired Shares will not be subject to any Transfer Restriction. The term
 “Transfer Restriction” means any condition to or restriction on the ability of Subscriber to pledge, sell, assign or
otherwise transfer the Acquired Shares under any organizational document or agreement of the Issuer, which for the avoidance of doubt
excludes the restrictions on transfer described in Section 4(f) hereof with respect to the status of the Acquired Shares as “restricted
securities” pending their resale pursuant to an effective registration statement under the Securities Act.

 

    -8-

     

    

 

(w)             
The Issuer does not engage in (i) the design, fabrication, development, testing, production or
manufacture of one (1) or more “critical technologies” within the meaning of the Defense Production Act of 1950, as amended,
including all implementing regulations thereof (the “DPA”) or (ii) the ownership, operation, maintenance, supply, manufacture,
or servicing of “covered investment critical infrastructure” within the meaning of the DPA (where such activities are covered
by column 2 of Appendix A to 31 C.F.R. Part 800).

 

(x)               
No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities
Act (a “Disqualification Event”) is applicable to the Issuer or, to the Issuer’s knowledge, any Issuer Covered
Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii-iv) or (d)(3), is applicable. “Issuer Covered Person”
means, with respect to the Issuer as an “issuer” for purposes of Rule 506 promulgated under the Securities Act, any person
listed in the first paragraph of Rule 506(d)(1). 

 

4.                  
Subscriber Representations and Warranties. Subscriber represents and warrants to Issuer and each Placement Agent that:

 

(a)               
Subscriber is validly existing and in good standing under the laws of its jurisdiction of incorporation
or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement.

 

(b)               
This Subscription Agreement has been duly authorized, executed and delivered by Subscriber and,
assuming that this Subscription Agreement has been duly authorized, executed and delivered by the Issuer, this Subscription Agreement
is the valid and binding obligation of Subscriber, enforceable against Subscriber in accordance with its terms, except as may be limited
or otherwise affected by (i) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws relating to
or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

(c)               
The execution, delivery and performance by Subscriber of this Subscription Agreement, including
the consummation of the transactions contemplated hereby, have been duly authorized and approved by all necessary action. Subscriber acknowledges
that Subscriber shall be responsible for any of Subscriber’s tax liabilities that may arise as a result of the transactions contemplated
by this Subscription Agreement, and that the Issuer nor any of its affiliates has provided any tax advice or any other representation
or guarantee, whether written or oral, regarding the tax consequences of the transactions contemplated by this Subscription Agreement.

 

(d)               
The execution, delivery and performance by Subscriber of this Subscription Agreement, including
the consummation of the transactions contemplated hereby 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 Subscriber or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan
agreement, lease, license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber
or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject; (ii)
Subscriber’s organizational documents or under any law, rule, regulation, agreement or other obligation by which Subscriber is bound;
and (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having
jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties, that, in the case of clauses (i) and (iii),
would reasonably be expected to have a material adverse effect on the legal authority or ability of Subscriber to perform in any material
respects its obligations hereunder.

 

    -9-

     

    

 

(e)               
Subscriber (i) 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) under the Securities Act)
satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring the Acquired Shares only for its own account
and not for the account of others, or if Subscriber is a “qualified institutional buyer” and is subscribing for the Acquired
Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is a “qualified institutional buyer”
and Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements,
representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring the Acquired Shares
with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act or any other securities
laws of the United States or any other jurisdiction (and shall provide the requested information on Schedule A following the signature
page hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Acquired Shares, unless such newly formed entity
is an entity in which all of the equity owners are “accredited investors” (within the meaning of Rule 501(a) under the Securities
Act).

 

(f)                
Subscriber understands that the Acquired Shares are being offered in a transaction not involving
any public offering within the meaning of the Securities Act and that the Acquired Shares have not been registered under the Securities
Act or any other securities laws of the United States or any other jurisdiction. Subscriber understands that it is acquiring its entire
beneficial ownership interest in the Acquired Shares for Subscriber’s own account for investment purposes only and not with a view
to any distribution of the Acquired Shares in any manner that would violate the securities laws of the United States or any other jurisdiction.
Subscriber understands that the Acquired Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent
an effective registration statement under the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) pursuant to offers
and sales that occur in an “offshore transaction” within the meaning of Regulation S under the Securities Act, (iii) pursuant
to Rule 144 under the Securities Act (“Rule 144”), provided that all of the applicable conditions thereof (including
those set out in Rule 144(i) which are applicable to the Issuer) have been met, or (iv) pursuant to another applicable exemption from
the registration requirements of the Securities Act, including pursuant to a private sale effected under Section 4(a)(7) of the Securities
Act or applicable formal or informal Commission interpretation or guidance, such as a so-called “4(a)(1) and a half” sale,
and that any certificates or book-entry records representing the Acquired Shares shall contain a legend to such effect, which legend shall
be subject to removal as set forth herein and in the Registration Rights Agreement, dated the date hereof, by and among the Issuer and
other parties thereto (the “Registration Rights Agreement”) (but only to the extent that Subscriber is party to the
Registration Rights Agreement, in which case, notwithstanding anything else contained herein to the contrary, Section 5 and 8(c)
hereof shall not apply and not be effective with respect to such Subscriber). Subscriber understands and agrees that the Acquired Shares
will be subject to the foregoing restrictions and, as a result, Subscriber may not be able to readily resell the Acquired Shares and may
be required to bear the financial risk of an investment in the Acquired Shares for an indefinite period of time. Subscriber understands
that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the Acquired Shares.
By making the representations herein, Subscriber does not agree to hold any of the Acquired Shares for any minimum or other specific term
and reserves the right to assign, transfer or otherwise dispose of any of the Acquired Shares at any time in accordance with or pursuant
to a registration statement or an exemption under the Securities Act.

 

    -10-

     

    

 

(g)               
Subscriber understands and agrees that Subscriber is purchasing the Acquired Shares directly from
the Issuer. Subscriber further acknowledges that there have been no, and in purchasing the Acquired Shares Subscriber is not relying on
any, representations, warranties, covenants or agreements made to Subscriber by Deutsche Bank Securities, Inc. and AXIA Capital Markets
LLC (individually, a “Placement Agent” and collectively, the “Placement Agents”), the Issuer, or
any of their respective affiliates or any control persons, officers, directors, partners, agents or representatives, or any other person
or entity, expressly or by implication, other than those representations, warranties, covenants and agreements expressly stated in this
Subscription Agreement.

 

(h)               
To the extent applicable to it, Subscriber represents and warrants that its acquisition and holding
of the Acquired Shares will not constitute or result in a non-exempt prohibited transaction under section 406 of the Employee Retirement
Income Security Act of 1974, as amended, section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”),
or any applicable similar law.

 

(i)                
In making its decision to purchase the Acquired Shares, Subscriber represents that it has conducted
and completed its own independent due diligence and has independently made its own analysis and decision with respect to the Subscription.
Subscriber further represents that, except for the representations, warranties, covenants and agreements made by Issuer herein, it is
relying exclusively on its own sources of information, investment analysis and due diligence (including professional advice Subscriber
deems appropriate) with respect to the Subscription, the Acquired Shares and the business, condition (financial and otherwise), management,
operations, properties and prospects of the Issuer, including but not limited to all business, legal, regulatory, accounting, credit and
tax matters. Subscriber acknowledges and agrees that it has received and had an opportunity to review the offering materials made available
to it in connection with the Subscription and such other information as Subscriber deems necessary in order to make an investment decision
with respect to the Acquired Shares, including with respect to the Issuer, Target and the Transactions, in each case, made available prior
to the date hereof. Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any, have had
the opportunity to ask such questions, receive such answers and obtain such information from the Issuer directly as Subscriber and such
Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired
Shares. However, neither any such inquiries, nor any due diligence investigation conducted by Subscriber or any of Subscriber’s
professional advisors nor anything else contained herein, shall modify, limit or otherwise affect Subscriber’s right to rely on
the Issuer’s representations, warranties, covenants and agreements contained in this Subscription Agreement. Subscriber acknowledges
that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation
(including, without limitation, the Issuer, Target, the Placement Agents, any of their respective affiliates or any control persons, officers,
directors, employees, agents or representatives of any of the foregoing), other than the representations, warranties, covenants and agreements
of the Issuer contained in this Subscription Agreement, in making its investment or decision to invest in the Issuer. Subscriber acknowledges
and agrees that neither the Placement Agents, nor any of their respective affiliates, has provided Subscriber with any information or
advice with respect to the Acquired Shares nor is such information or advice necessary or desired. Neither the Placement Agents nor any
of their respective affiliates has made or makes any representation as to the Issuer, Target or the quality or value of the Acquired Shares.
On behalf of itself and its affiliates, the Subscriber acknowledges that the Placement Agents shall not have any liability or any obligation
to the Subscriber or its affiliates in respect of this Subscription Agreement or the transactions contemplated hereby including, but not
limited to, any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the Subscriber’s purchase
of the Acquired Shares. 

 

(j)                
Subscriber became aware of this offering of the Acquired Shares solely by means of direct contact
between Subscriber and the Issuer or by means of contact from one or more of the Placement Agents, and the Acquired Shares were offered
to Subscriber solely by direct contact between Subscriber and the Issuer or by contact between Subscriber and one or more Placement Agents.
Subscriber did not become aware of this offering of the Acquired Shares, nor were the Acquired Shares offered to Subscriber, by any other
means. 

 

(k)               
Subscriber acknowledges and agrees that the Placement Agents, and their respective affiliates,
are acting solely as placement agents in connection with the Subscription and are not acting as underwriters or in any other capacity
and are not and shall not be construed as a financial advisor or fiduciary for Subscriber, the Issuer or any other person or entity in
connection with the Subscription; provided, however, that Cantor Fitzgerald & Co. and Union Square Advisors, LLC are acting
as financial advisors to the Target in relation to the Transactions and Deutsche Bank Securities, Inc. is acting as a capital markets
advisor to the Issuer in relation to the Transactions. 

 

    -11-

     

    

 

(l)                
Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase
and ownership of the Acquired Shares, including those set forth in the SEC Reports. Subscriber has such knowledge and experience in financial,
business and private equity matters as to be capable of evaluating the merits and risks of an investment, both in general and with regard
to transactions and investment strategies involving a security or securities, including Subscriber’s investment in the Acquired
Shares, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an informed investment
decision. 

 

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

 

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

 

(o)               
Subscriber represents and warrants that Subscriber is not (i) a person or entity named on
the List of Specially Designated Nationals and Blocked Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List, or
the Sectoral Sanctions Identification List, each of which is administered by the U.S. Treasury Department’s Office of Foreign Assets
Control (“OFAC”) (collectively, “OFAC Lists”) (ii) owned or controlled by, or acting on behalf of,
a person, that is named on an OFAC List; (iii) organized, incorporated, established, located, resident or born in, a country or territory
that is the target of country-wide or territory-wide economic or trade sanctions (currently Cuba, Iran, North Korea, Syria, the Crimea
region of Ukraine), (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (v) a
non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. Subscriber agrees to provide law enforcement agencies,
if requested thereby, such records as required by applicable law, provided that Subscriber is permitted to do so under applicable law.
Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. section 5311 et seq.) (the “BSA”),
as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the
 “BSA/PATRIOT Act”), Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations
under the BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed
to ensure compliance with OFAC-administered sanctions programs, including for the screening of its investors against the OFAC Lists. Subscriber
further represents and warrants that, to the extent required, it maintains policies and procedures reasonably designed to ensure that
the funds held by Subscriber and used to purchase the Acquired Shares were legally derived.

 

(p)               
If Subscriber is an employee benefit plan that is subject to Title I of Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), a plan, an individual retirement account or other arrangement that is subject
to section 4975 of the Code or an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan
(as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject to
the foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar
to such provisions of ERISA or the Code, or an entity whose underlying assets are considered to include “plan assets” of any
such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of
ERISA or section 4975 of the Code, then Subscriber represents and warrants that neither the Issuer, nor any of its affiliates (the “Transaction
Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to acquire
and hold the Acquired Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with
respect to any decision to acquire, continue to hold or transfer the Acquired Shares.

 

    -12-

     

    

 

(q)               
At the Purchase Price Payment Date, Subscriber will have sufficient funds to pay the Purchase Price
pursuant to Section 2(a).

 

5.            
Registration Rights.

 

(a)               
The Issuer agrees that, as soon as practicable, but in no event later than 30 calendar days after the Closing Date (the “Filing
Date”), the Issuer will file with the Commission (at the Issuer’s sole cost and expense) a registration statement registering
the resale of the Acquired Shares (the “Registration Statement”), and the Issuer shall use its commercially
reasonable efforts to cause the Registration Statement to be declared effective as soon as practicable after the filing thereof,
but no later than the earlier of (i) the 90th calendar day (or 120th calendar day if the Commission notifies the
Issuer that it will “review” the Registration Statement) following the Closing and (ii) the 10th business day after
the date the Issuer 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 (the “Effectiveness Date”); provided, however,
that if the Commission is closed for operations due to a government shutdown, the Effectiveness Date shall be extended by the same amount
of days that the Commission remains closed for operations, provided, further, that the Issuer’s obligations to include the
Acquired Shares in the Registration Statement are contingent upon Subscriber furnishing in writing to the Issuer such information regarding
Subscriber, the securities of the Issuer held by Subscriber, the intended method of disposition of the Acquired Shares (which
shall be limited to non-underwritten public offerings) and such other information as shall be reasonably requested by the Issuer
to effect the registration of the Acquired Shares, and Subscriber shall execute such documents in connection with such registration as
the Issuer may reasonably request that are customary of a selling equityholder in similar situations, including providing that the Issuer
shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement during any customary blackout or similar
period or as permitted hereunder; provided, however, under no circumstances shall Subscriber be required to sign any type of lock-up
or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Acquired Shares. Any failure
by the Issuer to file the Registration Statement by the Filing Date or to cause the effectiveness of such Registration Statement by the
Effectiveness Date shall not otherwise relieve the Issuer of its obligations to file or cause the effectiveness of the Registration Statement
as set forth above in this Section 5. The Issuer will provide a draft of the Registration Statement to Subscriber for review
at least two business days in advance of filing the Registration Statement, and will promptly advise the Subscriber when the Registration
Statement has been declared effective by the SEC, provided that, for the avoidance of doubt, in no event shall the Issuer be required
to delay or postpone the filing of such Registration Statement as a result of or in connection with Subscriber’s review. In no event
shall Subscriber be identified as a statutory underwriter in the Registration Statement unless requested by the Commission; provided,
that, if the Commission requests that Subscriber be identified as a statutory underwriter in the Registration Statement, Subscriber will
have an opportunity to withdraw its Acquired Shares from the Registration Statement. Notwithstanding the foregoing, if the Commission
prevents the Issuer from including any or all of the shares proposed to be registered under the Registration Statement due to limitations
on the use of Rule 415 of the Securities Act for the resale of the Acquired Shares by the Subscriber, any Other Acquired Shares by any
Other Subscribers or Class A Shares by any other selling equityholder named in the Registration Statement, the Issuer will promptly notify
the Subscriber of such event, and such Registration Statement shall register for resale such number of Class A Shares which is equal to
the maximum number of Acquired Shares as is permitted by the Commission. In such event, the number of Class A Shares to be registered
for Subscriber, such Other Subscriber or other selling equityholder named in the Registration Statement shall be reduced pro rata
among all such selling equityholders and as promptly as practicable after being permitted to register additional Acquired Shares under
Rule 415 under the Securities Act, the Issuer shall amend the Registration Statement or file with the Commission, as promptly as allowed
by the Commission, one or more registration statements to register the resale of those Registrable Securities (as defined below) that
were not registered on the initial Registration Statement, as so amended and to cause such amendment or Registration Statement to become
effective as promptly as practicable. The Issuer will, at its own expense, use its commercially reasonable
efforts to maintain the continuous effectiveness of the Registration Statement until all such securities cease to be Registrable Securities.
The Issuer will provide all customary and commercially reasonable cooperation necessary to (i) enable Subscriber to resell Registrable
Securities pursuant to the Registration Statement or Rule 144, as applicable, (ii) qualify the
Registrable Securities for listing on the primary stock exchange on which the Class A Shares are then listed, (iii) update or amend the
Registration Statement as necessary to include Registrable Securities and (iv) provide customary notice to holders of Registrable Securities.
 “Registrable Securities” shall mean, as of any date of determination, the Acquired Shares and any other equity security
of the Issuer issued or issuable with respect to the Acquired Shares by way of share split, dividend, distribution, recapitalization,
merger, exchange, replacement or similar event or otherwise. As to any particular Registrable Securities, once issued, such securities
shall cease to be Registrable Securities at the earliest of: (A) when Subscriber ceases to hold any Registrable Securities; (B) the date
all Registrable Securities held by Subscriber may be sold without restriction under Rule 144, including without limitation, any volume
and manner of sale restrictions which may be applicable to affiliates under Rule 144, and without the requirement for the Issuer to be
in compliance with the current public information required under Rule 144, (C) when such securities shall have ceased to be outstanding
or (D) three years from the date of effectiveness of the Registration Statement.

 

    -13-

     

    

 

(b)               
In the case of the registration, qualification, exemption or compliance effected by the Issuer
pursuant to this Subscription Agreement, the Issuer shall, upon reasonable request, inform Subscriber as to the status of such registration,
qualification, exemption and compliance. At its expense the Issuer shall:

 

(i)                
except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state
securities laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the applicable Registration
Statement or any subsequent shelf registration statement free of any material misstatements or omissions, for as long as Subscriber continues
to hold Registrable Securities;

 

(ii)              
advise Subscriber, as promptly as practicable but in any event, within three business days:

 

(1)               
when a Registration Statement or any amendment thereto has been filed with the Commission and when
such Registration Statement or any post-effective amendment thereto has become effective;

 

(2)               
of any request by the Commission for amendments or supplements to any Registration Statement or prospectus included therein or
for additional information;

 

(3)               
of the issuance by the Commission of any stop order suspending the effectiveness of any Registration
Statement or the initiation of any proceedings for such purpose;

 

    -14-

     

    

 

(4)               
of the receipt by the Issuer of any notification with respect to the suspension of the qualification
of the Acquired Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose;
and

 

(5)               
subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires
the making of any changes in any Registration Statement or prospectus included therein so that, as of such date, the statements therein
are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein
(and in the case of a prospectus, in the light of the circumstances under which they were made) not misleading.

 

Notwithstanding anything to
the contrary set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber with any material,
nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence of the events
listed in (1) through (5) above may constitute material, nonpublic information regarding the Issuer;

 

(iii)             
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable;

 

(iv)             
upon the occurrence of any event contemplated in Section 5(b)(ii)(5), except for such times as the Issuer is permitted hereunder
to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Issuer shall use its commercially
reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement
to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Acquired Shares included
therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading;

 

(v)               
use its commercially reasonable efforts to cause all Acquired Shares to be listed on the primary securities exchange or market,
if any, on which the Class A Shares issued by the Issuer have been listed;

 

(vi)             
allow Subscriber to review and consent to disclosure specifically regarding Subscriber in the Registration Statement on reasonable
advance notice (which consent shall not be unreasonably withheld); and

 

(vii)            
use its commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the Acquired
Shares and, for so long as Subscriber holds Acquired Shares, to enable Subscriber to sell the Acquired Shares under Rule 144.

 

    -15-

     

    

 

 

(c)               
Notwithstanding anything to the contrary in this Subscription Agreement, the Issuer shall be entitled
to delay the filing or postpone the effectiveness of the Registration Statement, and from time to time to require Subscriber not to sell
under the Registration Statement or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer
or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event, the Issuer’s board of directors
reasonably believes, upon the advice of legal counsel, would require additional disclosure by the Issuer in the Registration Statement
of material information that the Issuer has a bona fide business purpose or legal obligations for keeping confidential and the non-disclosure
of which in the Registration Statement would be expected, in the reasonable determination of the Issuer’s board of directors, upon
the advice of legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements (each such
circumstance, a “Suspension Event”); provided, however, that the Issuer may not delay or suspend the
Registration Statement on more than two occasions or for more than 45 consecutive calendar days, or more than 60 total calendar days,
in each case during any 12-month period. Upon receipt of any written notice from the Issuer of the happening of any Suspension Event (which
notice shall not contain material non-public information) during the period that the Registration Statement is effective or if as a result
of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state
any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made (in the case of the prospectus) not misleading, Subscriber agrees that (i) it will immediately discontinue offers
and sales of the Acquired Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to
Rule 144) until Subscriber receives copies of a supplemental or amended prospectus (which the Issuer agrees to promptly prepare) that
corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective
or unless otherwise notified by the Issuer that it may resume such offers and sales, and (ii) it will maintain the confidentiality
of any information included in such written notice delivered by the Issuer unless otherwise required by law or subpoena. If so directed
by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber’s sole discretion destroy, all copies of the prospectus covering
the Acquired Shares in Subscriber’s possession; provided, however, that this obligation to deliver or destroy all copies
of the prospectus covering the Acquired Shares shall not apply (1) to the extent Subscriber is required to retain a copy of such
prospectus (A) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (B) in
accordance with a bona fide pre-existing document retention policy or (2) to copies stored electronically on archival servers as
a result of automatic data back-up. For purposes of this Section 5, “Acquired Shares” shall mean, as of any
date of determination, the Acquired Shares purchased hereby and any other equity security issued or issuable with respect to the Acquired
Shares by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event, including any
equity securities received with respect to the Acquired Shares pursuant to the Transactions.

 

(d)               
Subscriber may deliver written notice (an “Opt-Out Notice”) to the Issuer requesting
that Subscriber not receive notices from the Issuer otherwise required by this Section 5; provided, however,
that Subscriber may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently
revoked), (i) the Issuer shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated
with any such notice and (ii) each time prior to Subscriber’s intended use of an effective Registration Statement, Subscriber will
notify the Issuer in writing at least two business days in advance of such intended use, and if a notice of a Suspension Event was previously
delivered (or would have been delivered but for the provisions of this Section 5(d)) and the related suspension period remains
in effect, the Issuer will so notify Subscriber, within one business day of Subscriber’s notification to the Issuer, by delivering
to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber with the related notice of the
conclusion of such Suspension Event promptly following its availability.

 

    -16-

     

    

 

(e)               
Indemnification.

 

(i)                
The Issuer shall, notwithstanding the termination of this Subscription Agreement, indemnify and hold harmless, to the fullest extent
permitted by law, Subscriber, its directors, officers, employees, agents, trustees, partners, members, managers, equityholders, affiliates,
investment advisors and sub-advisors, and each person who controls Subscriber (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) and each of their respective directors, members, officers, employees and agents from and against any
and all losses, claims, damages, liabilities, costs and expenses (including, without limitation, any reasonable attorneys’ fees
and expenses actually incurred in connection with defending or investigating any such action or claim) (collectively, “Losses”)
that arise out of or are caused by (A) any untrue or alleged untrue statement of material fact contained in any Registration Statement
(or incorporated by reference therein), prospectus included in any Registration Statement (“Prospectus”) or preliminary
Prospectus or any amendment thereof or supplement thereto or document incorporated by reference therein or any omission or alleged omission
of a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances under which
they were made, not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Issuer
by or on behalf of such Subscriber expressly for use therein, or (B) any violation or alleged violation by the Issuer of the Securities
Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of its obligations
under this Section 5. The Issuer shall notify Subscriber promptly of the institution, threat or assertion (to the Issuer’s
knowledge) of any proceeding arising from or in connection with the Transactions; provided, however, that the indemnification
contained in this Section 5(e) shall not apply to amounts paid in settlement of any Losses if such settlement is effected without
the consent of the Issuer (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Issuer be liable for
any Losses to the extent they arise out of or are based upon a violation which occurs (A) in connection with any failure of such person
to deliver or cause to be delivered a Prospectus made available by the Issuer in a timely manner or (B) in connection with any offers
or sales effected by or on behalf of Subscriber in violation of this Agreement.

 

(ii)              
In connection with any Registration Statement in which Subscriber is participating, Subscriber shall furnish to the Issuer in writing
such information as the Issuer reasonably requests for use in connection with any such Registration Statement or Prospectus. In connection
with any Registration Statement in which Subscriber is participating, Subscriber agrees, severally and not jointly with any Other Subscriber
or other investor that is a party to the Other Subscription Agreements, to indemnify and hold harmless, to the fullest extent permitted
by law, the Issuer, its directors and officers and agents and employees and each person or entity who controls the Issuer (within the
meaning of Section 15 of the Securities Act) and each of their respective directors, members, officers, employees and agents against any
Losses, resulting from or arising out of any untrue or alleged untrue statement of material fact contained in the 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 in light of the circumstances under which they were made,
not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in the case of an omission)
in and is based on any information or affidavit so furnished in writing by or on behalf of Subscriber expressly for use therein; provided,
however, that in no event shall the liability of Subscriber be greater in amount than the dollar amount of the net proceeds received
by Subscriber from the sale of Acquired Shares pursuant to such Registration Statement giving rise to such indemnification obligation.

 

(iii)            
Any person entitled to indemnification herein shall (1) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (2) 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. An indemnifying
party who 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 legal counsel to any
indemnified party a conflict of interest exists between such indemnified party and any other of such indemnified parties with respect
to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter
into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party
pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

    -17-

     

    

 

(iv)             
The indemnification provided under this Subscription 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, agent, affiliate or controlling person of such indemnified
party and shall survive the transfer of the Acquired Shares.

 

(v)               
If the indemnification provided under this Section 5(e) from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any Losses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified
party, shall contribute to the amount paid or payable by the indemnified party as a result of such Losses 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;
provided, however, that in no event shall the liability of Subscriber be greater in amount than the dollar amount of the
net proceeds received by Subscriber from the sale of Acquired Shares pursuant to such Registration Statement giving rise to such indemnification
obligation. 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. 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
5(e)(i), 5(e)(ii), 5(e)(iii), any legal or other fees, charges or expenses reasonably incurred by such party in connection
with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution pursuant to this Section 5(e)(v) from any person who was not guilty of such fraudulent misrepresentation.

 

(f)                
In the event Subscriber becomes a party to the Registration Rights Agreement, this Section 5 shall not apply and not be
effective with respect to such Subscriber. For the avoidance of doubt, the Issuer acknowledges and agrees that Subscriber is not party
to the Registration Rights Agreement.

 

6.                  
Termination. This Subscription Agreement shall terminate and be void and of no further force and effect (except for those
provisions expressly contemplated to survive termination of this Subscription Agreement in accordance with Section 9(d)), and all
rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof
(except with respect to those provisions expressly contemplated to survive termination of this Subscription Agreement in accordance with
Section 9(d)), upon the earlier to occur of (a) such date and time as the Business Combination Agreement is terminated in accordance
with its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if
any of the conditions to Closing set forth in Section 2 of this Subscription Agreement are not satisfied on or prior to the
earlier of the Closing Date or the Outside Date (as defined in the Business Combination Agreement as filed with the Commission on or shortly
after the date hereof), and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at
the Closing or (d) the Outside Date; provided, that nothing herein 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. The Issuer shall promptly notify Subscriber in writing (with email being sufficient) of the termination
of the Business Combination Agreement. Upon the termination hereof, any monies paid by Subscriber to the Issuer in connection herewith
shall promptly (and in any event within one business day) be returned in full to Subscriber by wire transfer of U.S. dollars in immediately
available funds to the account specified by Subscriber, without any deduction for or on account of any tax withholding, charges or set-off,
whether or not the Transactions shall have been consummated.

 

    -18-

     

    

 

7.                  
Additional Agreements and Waivers of Subscriber.

 

(a)               
Trust Account Waiver. Subscriber acknowledges that the Issuer is a blank check company with
the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Issuer and
one or more businesses or assets. Subscriber further acknowledges that, as described in the Issuer’s prospectus relating to its
initial public offering dated January 27, 2021 (the “January 27, 2021 Prospectus”), available at sec.gov, substantially
all of the Issuer’s assets consist of the cash proceeds of the Issuer’s initial public offering and private placements of
its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”)
for the benefit of its public equityholders and the underwriters of its initial public offering. Except with respect to interest earned
on the funds in the Trust Account that may be released to the Issuer to pay its tax obligations, if any, the cash in the Trust Account
may be disbursed only for the purposes set forth in the January 27, 2021 Prospectus. For and in consideration of the Issuer entering into
this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber hereby irrevocably waives any and
all right, title and interest, or any claim of any kind it has or may have in the future as a result of, or arising out of, this Subscription
Agreement, in or to any monies held in the Trust Account, and 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 Subscription Agreement, the transactions contemplated
hereby or the Acquired Shares, regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability;
provided however, that nothing in this Section 7 shall be deemed to limit any Subscriber’s right, title, interest
or claim to the Trust Account by virtue of such Subscriber’s (x) record or beneficial ownership of Class A Shares acquired by any
means other than pursuant to this Subscription Agreement or (y) redemption rights in connection with the Transactions with respect to
any shares of Class A Shares of the Issuer owned by such Subscriber. Subscriber acknowledges and agrees that it shall not have any redemption
rights with respect to the Acquired Shares pursuant to the Issuer’s organizational documents in connection with the Transactions
or any other business combination, any subsequent liquidation of the Trust Account or the Issuer or otherwise. In the event Subscriber
has any claim against the Issuer as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby
or the Acquired Shares, it shall pursue such claim solely against the Issuer and its assets outside the Trust Account and not against
the Trust Account or any monies or other assets in the Trust Account. This paragraph shall survive any termination of this Subscription
Agreement. 

 

(b)               
No Hedging. Subscriber hereby agrees that neither it, nor any person or entity acting on
its behalf or pursuant to any understanding with it, shall execute any short sales (as such term is defined in Regulation SHO under the
Exchange Act, 17 CFR 242.200) or engage in other hedging transactions of any kind directly with respect to the Acquired Shares during
the period from the date of this Subscription Agreement through the Closing (or such earlier termination of this Subscription Agreement).
Notwithstanding anything to the contrary set forth herein, nothing in this Section 7(b) shall prohibit any entities under common
management or that share an investment adviser with the Subscriber that have no knowledge of this Subscription Agreement or of Subscriber’s
participation in the transactions contemplated hereby (including Subscriber’s controlled affiliates and/or affiliates) from entering
into any short sales or engaging in other hedging transactions; and in the case of a Subscriber that is a multi-managed investment vehicle
whereby separate portfolio managers manage separate portions of such Subscriber’s assets and the portfolio managers have no knowledge
of the investment decisions made by the portfolio managers managing other portions of such Subscriber’s assets, this Section
7(b) shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to
purchase the Acquired Shares covered by this Subscription Agreement. The Issuer acknowledges and agrees that, notwithstanding anything
herein to the contrary, the Acquired Shares may be pledged by Subscriber in connection with a bona fide margin agreement, provided that
such pledge shall be (i) pursuant to an available exemption from the registration requirements of the Securities Act or (ii) pursuant
to, and in accordance with, a registration statement that is effective under the Securities Act at the time of such pledge, and Subscriber
effecting a pledge of the Acquired Shares shall not be required to provide the Issuer with any notice thereof; provided, however, that
neither the Issuer nor its counsel shall be required to take any action (or refrain from taking any action) in connection with any such
pledge, other than providing any such lender of such margin agreement with an acknowledgment that the Acquired Shares are not subject
to any contractual lock up or prohibition on pledging, the form of such acknowledgment to be subject to review and comment by the Issuer
in all respects.

 

    -19-

     

    

 

8.                  
Issuer’s Covenants.

 

(a)               
Except as contemplated herein, the Issuer, its subsidiaries and their respective controlled affiliates
shall not, and shall cause any person acting on behalf of any of the foregoing to not, take any action or steps that would require registration
of the issuance of any of the Acquired Shares under the Securities Act.

 

(b)               
With a view to making available to Subscriber the benefits of Rule 144 or any other similar rule
or regulation of the Commission that may at any time permit Subscriber to sell securities of the Issuer to the public without registration,
the Issuer agrees, for so long as Subscriber holds Acquired Shares to:

 

(i)                
make and keep public information available, as those terms are understood and defined in Rule 144;

 

(ii)              
file with the Commission in a timely manner all reports and other documents required of the Issuer under the Securities Act and
the Exchange Act so long as the Issuer remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144; and

 

(iii)            
furnish to Subscriber, promptly upon request, (x) a written statement by the Issuer, if true, that it has complied with the reporting
requirements of Rule 144, the Securities Act and the Exchange Act, (y) a copy of the most recent annual or quarterly report of the Issuer
and such other reports and documents so filed by the Issuer (public availability on the Commission’s EDGAR system (or successor
system) being sufficient) and (z) such other information as may be reasonably requested to permit Subscriber to sell such securities pursuant
to Rule 144 without registration.

 

(c)               
As of immediately prior to the First Merger the Issuer agrees that the authorized capital stock of the Issuer will consist of (i)
1,000,000 shares of preferred stock, par value $0.001 per share (“Preferred Stock”) and (ii) 110,000,000 shares of
common stock, par value $0.001 per share (the “Common Stock”), including (1) 100,000,000 Class A Shares and (2) 10,000,000
Class B Shares. As of immediately prior to the First Merger, the Issuer agrees that (i) no shares of Preferred Stock will be issued
and outstanding, (ii) 24,825,000 Class A Shares will be issued and outstanding, (iii) 6,037,500 Class B Shares will be issued
and outstanding and (iv) 12,412,000 redeemable warrants and 337,500 private placement warrants will be outstanding, none of which are
exercisable on or prior to the Closing. As of immediately prior to the First Merger, the Issuer covenants that all (i) issued and outstanding
Class A Shares and Class B Shares will be duly authorized and validly issued, fully paid and non-assessable and will not be subject to
and will not be issued in violation of any preemptive rights and (ii) outstanding warrants will be duly authorized and validly issued,
fully paid and will not subject to and will not be issued in violation of any preemptive rights. Except as set forth above and pursuant
to the Other Subscription Agreements and the Business Combination Agreement, the Issuer agrees that there will be no outstanding options,
warrants or other rights to subscribe for, purchase or acquire from the Issuer any shares of Common Stock or other equity interests in
the Issuer, or securities convertible into or exchangeable or exercisable for such equity interests. As of immediately prior to the First
Merger, other than Merger Sub I and Merger Sub II, the Issuer will not have any subsidiaries and will not own, directly or indirectly,
interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. As of immediately prior to the
First Merger, the Issuer agrees there will be no stockholder agreements, voting trusts or other agreements or understandings to which
the Issuer is a party or by which it is bound relating to the voting of any securities of the Issuer, other than (i) as set forth in the
SEC Reports (as defined below) and (ii) as contemplated by the Business Combination Agreement. Except as disclosed in the SEC Reports,
as of immediately prior to the First Merger, the Issuer agrees that it will not have any outstanding indebtedness and will not have any
outstanding long-term indebtedness as of the Closing Date.

 

    -20-

     

    

 

(d)               
The Issuer will use its commercially reasonable efforts to cause the issued and outstanding Class A
Shares to be registered pursuant to Section 12(b) of the Exchange Act, and to be listed for trading on Nasdaq under the symbol
 “ITHX” (it being understood that the trading symbol will be changed in connection with the Transaction). 

 

(e)               
The Issuer will use its commercially reasonable efforts to cause the Class A Shares to be eligible
for clearing through the DTC, through its DWAC system, and the Issuer will us its commercially reasonable efforts to be eligible and participate
in the DRS of DTC with respect to the Class A Shares. 

 

(f)                
Upon request of the Subscriber, the Issuer shall use its commercially reasonable efforts to promptly
cause the removal of the legend described in Section 4(f) and to issue a certificate or a book entry record without such legend
to the holder of the Acquired Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance
account at DTC, if (i) such Acquired Shares are registered for resale pursuant to an effective registration statement under the Securities
Act, upon the sale thereof, (ii) the Acquired Shares are sold pursuant to Rule 144, or (iii) the Acquired Shares can be sold, assigned
or transferred without restriction or current public information requirements pursuant to Rule 144, including without limitation, any
volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and any requirement for the Issuer to be in
compliance with the current public information required under Rule 144(c) or Rule 144(i), as applicable, and in each case, the holder
provides the Issuer with an undertaking to effect any sales or other transfers in accordance with the Securities Act. With respect to
a sale pursuant to the foregoing clause (ii), the Issuer shall use its commercially reasonable efforts to cause the removal of such legend
within three business days of receipt of Subscriber’s request, provided that the Subscriber has provided such customary representations
and other documentation in connection therewith. The Issuer shall be responsible for the fees of the Transfer Agent, counsel to the Issuer,
and all DTC fees associated with such issuance and Subscriber shall be responsible for all other fees and expenses (including, without
limitation, any applicable broker fees, fees and disbursements of their legal counsel and any applicable transfer taxes). The Issuer shall
use its commercially reasonable efforts at its own expense to cause its legal counsel to deliver an opinion, if necessary, to DTC or the
Transfer Agent in connection with the instruction under in this Section 8(c) to the effect that the removal of such restrictive
legends in such circumstances may be effected under the Securities Act, in each case upon the receipt of customary representations and
other documentation, if any, from the Subscriber as reasonably requested by the Issuer, its counsel, DTC or Transfer Agent, establishing
that restrictive legends are no longer required.

 

    -21-

     

    

 

9.                  
Miscellaneous.

 

(a)               
Each party hereto acknowledges that the other party hereto and others will rely on the acknowledgments,
understandings, agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, each party
hereto agrees to promptly notify the other party hereto and the Placement Agents if any of the acknowledgments, understandings, agreements,
representations and warranties set forth herein with respect to it are no longer accurate in all material respects. Subscriber and the
Issuer further acknowledge and agree that each of the Placement Agents is a third-party beneficiary with the right to enforce Section
3, Section 4 and Section 9 of this Subscription Agreement on its behalf and not, for the avoidance of doubt, on behalf
of the Issuer, and that each of the Placement Agents will rely on the acknowledgments, understandings,
agreements, representations and warranties made by Subscriber and Issuer contained in this Subscription Agreement.

 

(b)               
Each of the Issuer, the Subscriber and the Placement Agents (with respect to Section 3,
Section 4 and Section 9), is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce
this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with
respect to the matters covered hereby. Each of the Placement Agents is entitled to rely upon the representations, warranties, agreements
and covenants of the Issuer and Subscriber in this Subscription Agreement. 

 

(c)               
This Subscription Agreement may not be transferred or assigned without the prior written consent
of each of the other parties hereto. Notwithstanding the foregoing, this Subscription Agreement and any of Subscriber’s rights and
obligations hereunder may be assigned to one or more affiliates of the Subscriber or to any fund or account managed by the same investment
manager or investment advisor as Subscriber or by an affiliate of such investment manager or investor advisor, without the prior consent
of the Issuer, provided that such assignee(s) agrees in writing to be bound by the terms hereof. Upon such assignment by a Subscriber,
the assignee(s) shall become Subscriber hereunder and have the rights and obligations provided for herein to the extent of such assignment;
provided further that, no assignment shall relieve the assigning party of any of its obligations hereunder, including any assignment
to any fund or account managed by the same investment manager or investment advisor as Subscriber or by an affiliate of such investment
manager or investment advisor, unless consented to in writing by the Issuer (such consent not to be unreasonably conditioned, delayed
or withheld). Neither this Subscription Agreement nor any rights that may accrue to the Issuer hereunder or any of the Issuer’s
obligations may be transferred or assigned other than pursuant to the Transactions.

 

(d)               
All of the representations and warranties contained in this Subscription Agreement shall survive
the Closing. All of the covenants and agreements made by each party in this Subscription Agreement shall survive the Closing until the
applicable statute of limitations or in accordance with their respective terms.

 

(e)               
The Issuer may request from Subscriber such additional information as the Issuer may deem reasonably
necessary to evaluate the eligibility of Subscriber to acquire the Acquired Shares, and Subscriber shall provide such information as may
be reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures; provided,
that, the Issuer agrees to keep any such information provided by Subscriber confidential; provided, further, that upon receipt
of such additional information, the Issuer shall be allowed to convey such information to each Placement Agent but shall cause such Placement
Agent to keep the information confidential, except as may (x) be required by applicable law, rule, regulation, (y) requested by governmental,
regulatory or self-regulatory body, or (z) required in connection with any legal proceeding.

 

(f)                
This Subscription Agreement may not be amended, modified, waived or terminated except by an instrument
in writing, signed by each of the parties hereto. This Subscription Agreement may not be waived except by an instrument in writing, signed
by the party against whom enforcement of such waiver is sought. 

 

    -22-

     

    

 

(g)               
This Subscription Agreement and, if applicable, the Registration Rights Agreement (including the
schedules hereto and thereto) constitute the entire agreement, and supersede all other prior agreements, understandings, representations
and warranties, both written and oral, among the parties, with respect to the subject matter hereof.

 

(h)               
Except as otherwise provided herein, this Subscription 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.

 

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

 

(j)                
This Subscription Agreement may be executed in two or more counterparts (including by electronic
means), all of which shall be considered one and the same agreement and shall become effective when signed by each of the parties and
delivered to the other parties, it being understood that all parties need not sign the same counterpart.

 

(k)               
Except as otherwise provided in this Subscription Agreement, each party shall pay all of its own
expenses in connection with this Subscription Agreement and the transactions contemplated by this Subscription Agreement.

 

(l)                
The Issuer shall be solely responsible for the fees of the Placement Agents, Transfer Agent, the
escrow agent, stamp taxes and all of DTC’s fees associated with the issuance of the Acquired Shares.

 

(m)             
Subscriber understands and agrees that (i) no disclosure or offering document has been prepared
by the Placement Agents or any of their respective affiliates in connection with the offer and sale of the Acquired Shares, (ii) none
of the Placement Agents, nor any of their respective affiliates, nor any control persons, directors,
officers, employees, agents or representatives of any of the foregoing has
made any independent investigation
with respect to the Issuer, Target, or their subsidiaries or any of their respective businesses, the
Transactions or the Acquired Shares or the accuracy, completeness or adequacy of any information supplied to Subscriber by the Issuer,
and (iii) in connection with the issue and purchase of the Acquired Shares, the Placement Agents have not acted as Subscriber’s
financial advisor, tax advisor or fiduciary.

 

(n)               
Any notice or communication required or permitted hereunder shall be in writing and either delivered
personally, emailed or telecopied, sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail,
postage prepaid, and shall be deemed to be given and received (i) when so delivered personally, (ii) upon receipt of an appropriate
electronic answerback or confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such
person may subsequently designate by notice given hereunder), (iii) when sent, with no mail undeliverable or other rejection notice, if
sent by email, or (iv) five business days after the date of mailing to the address below or to such other address or addresses as
such person may hereafter designate by notice given hereunder:

 

    -23-

     

    

 

if to Subscriber, to such address
or addresses set forth on the signature page hereto;

 

if to the Issuer, to:

 

ITHAX Acquisition Corp.

555 Madison Avenue

New York, NY 10022

Attention: Orestes Fintiklis, Chief Executive Officer

Email: orestes@ithacacapitalpartners.com

 

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

 

Reed Smith LLP

599 Lexington Avenue of

New York, NY 10022

Attention: Lynwood E. Reinhardt, Esq.; Panos Katsambas, Esq.

Email: lreinhardt@reedsmith.com; pkatsambas@reedsmith.com

 

and a required copy (which copy shall not constitute notice)
to:

 

Mondee Holdings II, Inc.

951 Mariners Island Blvd, Ste. 130

San Mateo, CA 94404

Attention: Dan Figenshu, Chief Financial Officer

Email: dan.figenshu@mondee.com

 

Kirkland & Ellis LLP

1601 Elm Street

Dallas, TX 75201

Attention: Michael Considine, P.C.

Email: michael.considine@kirkland.com

 

and

 

Kirkland & Ellis LLP

2049 Century Park E., 37th Floor

Los Angeles, CA 90067

Attention: Michele Cumpston,

Email: michele.cumpston@kirkland.com

 

(o)               
The parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the parties shall be entitled to seek an injunction or injunctions to prevent breaches of this Subscription Agreement and
to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such
party is entitled at law, in equity, in contract, in tort or otherwise.

 

(p)               
This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out
of or related to this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation,
execution, performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the laws of
the State of Delaware, without giving regard to the principles of conflicts of laws that would otherwise require the application of the
law of any other state.

 

    -24-

     

    

 

THE PARTIES HERETO IRREVOCABLY
SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (OR TO THE EXTENT SUCH COURT DOES NOT HAVE SUBJECT
MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE), OR THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE
STATE OF DELAWARE SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT
HEREOF THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE
APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT
ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A DELAWARE STATE OR FEDERAL COURT. THE
PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE
AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN SECTION
9(n) OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF.

 

EACH PARTY ACKNOWLEDGES AND
AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY
HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE,
PLACEMENT AGENTS 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; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING
WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 9(p).

 

(q)               
If, any change in the Class A Ordinary Shares or Class A Shares, as applicable, shall occur between
the date hereof and immediately prior to the Closing by reason of any reclassification, recapitalization, stock split (including reverse
stock split) or combination, exchange or readjustment of shares, or any stock dividend, the number of Acquired Shares issued to Subscriber
and the Per Share Price shall be appropriately adjusted to reflect such change.

 

    -25-

     

    

 

(r)                
The Issuer shall, by 9:00 a.m., New York City time, on the second business day immediately following the date of this Subscription
Agreement, file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure Document”) disclosing
all material terms of the transactions contemplated hereby and by the Other Subscription Agreements, the Transactions and any other material,
nonpublic information that the Issuer has provided to Subscriber any time prior to the filing of the Disclosure Document. Upon the issuance
of the Disclosure Document, to the Issuer’s knowledge, Subscriber shall not be in possession of any material, non-public information
received from the Issuer or any of its officers, directors or employees or agents and Subscriber shall no longer be subject to any confidentiality
or similar obligations under any current agreement, whether written or oral with the Issuer, the Placement Agents or any of their respective
affiliates. Notwithstanding anything in this Subscription Agreement to the contrary, the Issuer (i) shall not, and shall cause the Placement
Agents and the Target not to, disclose the name or identity of Subscriber or any of its affiliates or its investment adviser, or include
the name of Subscriber or any of its affiliates or its investment adviser, without the prior written consent of Subscriber, in any press
release or marketing materials and (ii) shall not disclose the name or identify of Subscriber or any of its affiliates or its investment
adviser, or include the name of Subscriber or any of its affiliates or its investment adviser, without the prior written consent of Subscriber,
in any filing with the Commission or any regulatory agency or trading market, except with respect to this clause (ii) as required
by state or federal securities law, any governmental authority or stock exchange rule, in which case the Issuer shall provide Subscriber
with prior written notice of such disclosure permitted hereunder.

 

(s)                
Each party hereto agrees for the express benefit of each Placement Agent and their respective affiliates,
control persons, officers, directors, employees, partners, agents and representatives that:

 

(i)                
none of the Placement Agents (or any of their respective affiliates or any control persons, officers, directors, employees,
partners, agents or representatives) (1) shall be liable to Subscriber, the Issuer, the Target or any
Other Subscriber pursuant to this Subscription Agreement, an Other Subscription Agreement or any other agreement related to the private
placement of shares of the Issuer’s capital stock for any action, including any improper payment made in accordance with the information
provided by the Issuer, heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Acquired
Shares; (2) makes any representation or warranty, or has any responsibilities as to the validity, accuracy, value or genuineness of any
information, certificates or documentation delivered by or on behalf of the Issuer pursuant to this Subscription Agreement or the Business
Combination Agreement or any agreement contemplated therein, or in connection with any of the Transactions; or (3) shall be liable (x)
for any action taken, suffered or omitted by any of them in good faith and reasonably believed to be authorized or within the discretion
or rights or powers conferred upon it by this Subscription Agreement, the Business Combination Agreement or any agreement contemplated
therein, or (y) for anything which any of them may do or refrain from doing in connection with this Subscription Agreement, the Business
Combination Agreement or any agreement contemplated therein, except for such party’s own gross negligence, willful misconduct or
bad faith. 

 

(ii)              
Issuer agrees for the express benefit of each Placement Agent and their respective affiliates, control persons, officers, directors,
employees, partners, agents and representatives that (x) none of the Placement Agents (or any of their respective affiliates or any control
persons, officers, directors, employees, partners, agents or representatives) has any duties or obligations other than those specifically
set forth in the engagement letter between the Issuer and such Placement Agent (an “Engagement Letter”); and (y) each
Placement Agent, their respective affiliates and their respective representatives shall be entitled to (1) rely on, and shall be protected
in acting upon, any certificate, instrument, opinion, notice, letter or any other document or security delivered to any of them by or
on behalf of the Issuer, and (2) be indemnified by the Issuer for acting as Placement Agent hereunder pursuant the indemnification provisions
set forth in the applicable Engagement Letter.

 

    -26-

     

    

 

(t)                
The obligations of Subscriber under this Subscription Agreement are several and not joint with
the obligations of any Other Subscriber or any other investor under the Other Subscription Agreements, and Subscriber shall not be responsible
in any way for the performance of the obligations of any Other Subscriber under any Other Subscription Agreement or other investor under
the Other Subscription Agreements. The decision of Subscriber to purchase the Acquired Shares pursuant to this Subscription Agreement
has been made by Subscriber independently of any Other Subscriber or any other investor and independently of any information, materials,
statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial
or otherwise) or prospects of the Issuer, the Target or any of their respective subsidiaries that may have been made or given by any Other
Subscriber or investor or by any agent or employee of any Other Subscriber or investor, and neither Subscriber nor any of its agents or
employees shall have any liability to any Other Subscriber or investor (or any other person) relating to or arising from any such information,
materials, statements or opinions. The decision of each Other Subscriber to purchase Other Acquired Shares pursuant to an Other Subscription
Agreement has been made by such Other Subscriber independently of Subscriber and independently of any information, materials, statements
or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise)
or prospects of the Issuer, the Target or any of their respective subsidiaries which may have been made or given by Subscriber. Nothing
contained herein or in any Other Subscription Agreement, and no action taken by Subscriber or investor pursuant hereto or thereto, shall
be deemed to constitute Subscriber and any Other Subscribers or other investors as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that Subscriber and any Other Subscribers or other investors are in any way acting in concert
or as a group with respect to such obligations or the transactions contemplated by this Subscription Agreement and the Other Subscription
Agreements. Subscriber acknowledges that no Other Subscriber has acted as agent for Subscriber in connection with making its investment
hereunder and no Other Subscriber will be acting as agent of Subscriber in connection with monitoring its investment in the Acquired Shares
or enforcing its rights under this Subscription Agreement. Subscriber shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Subscription Agreement, and it shall not be necessary for any Other Subscriber
or investor to be joined as an additional party in any proceeding for such purpose.

 

(u)               
The headings herein are for convenience only, do not constitute a part of this Subscription Agreement
and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Subscription 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. Unless the context otherwise requires, (i) all references to Sections, Schedules or Exhibits are to Sections, Schedules or Exhibits
contained in or attached to this Subscription Agreement, (ii) each accounting term not otherwise defined in this Subscription Agreement
has the meaning assigned to it in accordance with GAAP, (iii) words in the singular or plural include the singular and plural and pronouns
stated in either the masculine, the feminine or neuter gender shall include the masculine, feminine and neuter, (iv) the use of the word
 “including” in this Subscription Agreement shall be by way of example rather than limitation, and (v) the word “or”
shall not be exclusive. For ease of administration, this single Subscription Agreement may be executed so as to enable each Subscriber
identified on the signature page to enter into a Subscription Agreement, severally, but not jointly. The parties agree that no Subscriber
listed on the signature page shall have any liability under the Subscription Agreement for the obligations of any Other Subscriber so
listed.

 

[Signature pages follow.]

 

    -27-

     

    

 

IN WITNESS WHEREOF,
each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative
as of the date set forth below.

 

	 	ITHAX ACQUISITION CORP. 
	 	 
	 	By:	 
	 	Name:  	Orestes Fintiklis
	 	Title:	Chief Executive Officer
	 	 	 

Date:  December 20, 2021

 

Signature Page to 

Subscription Agreement

 

     

     

    

 

	SUBSCRIBER:	 
	 	 
	
    Signature of Subscriber:

     
	Signature of Joint Subscriber, if applicable:
	By:	                                	 	By:	                    
	Name:	Name:
	Title:	Title:

 

Date:  _________________________, 20__

 

	Name of Subscriber:	Name of Joint Subscriber, if applicable:
	 	 
	(Please print. Please indicate name and

capacity of person signing above)	 	(Please print. Please indicate name and

capacity of person signing above)
	 	 
	Name in which securities are to be registered

(if different)	 
	 	 
	Email Address:	 
	 	 
	If there are joint investors, please check one:	 
	 	 
	 ̈ Joint Tenants with Rights of Survivorship	 
	 	 
	 ̈ Tenants-in-Common	 
	 	 
	 ̈ Community Property	 
	 	 

 

	Subscriber’s EIN:  ___________________________________________	Joint Subscriber’s EIN:
	Business Address-Street:	Mailing Address-Street (if different):
	 	 	                                                                                              
	                             	 	 
	 	 	 
		
	City, State, Zip:	City, State, Zip:
	Attn:	Attn:
	Telephone No.: ________________________________________________	Telephone No.: ________________________________________________
	Facsimile No.: ________________________________________________________	Facsimile No.: _________________________________________________
	 	 
	Aggregate Number of Acquired Shares subscribed for:	 
	_________________	 
	 	 
	Aggregate Purchase Price: $_______________	 

 

You must pay the Purchase Price by wire transfer
of United States dollars in immediately available funds to the account specified by the Issuer in the Closing Notice.

 

Number of Acquired Shares subscribed for and aggregate
Purchase Price accepted and agreed to as of this ____ day of ________, 20__, by:

 

ITHAX ACQUISITION CORP.  

 

	
    

    By:  
	 	 
	Name: 	Orestes Fintiklis	 
	Title:	Chief Executive Officer	 

 

Signature Page to 

Subscription Agreement

 

     

     

    

 

SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

	A.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):
	 	 
	 	1.	 ̈ We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act (a “QIB”)).
	 	 	 
	 	2.	 ̈ We are subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, and each owner of such account is a QIB.

 

*** OR ***

 

	B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

(Please check each of the following subparagraphs):
	 	 
	 	1.	 ̈ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act and have marked and initialed the appropriate box on the following page indicating the provision under which we qualify as an “accredited investor”.
	 	2.	 ̈ We are not a natural person.
	 	 	 

*** AND ***

 

	C.	AFFILIATE STATUS

(Please check the applicable box)
	 	SUBSCRIBER:
	 	 
	 	 ̈	is:
	 	 	 
	 	 ̈	is not:

 

an “affiliate”
(as defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.

 

FINRA Rule 4512(c) states that an “institutional
account” shall mean any person who comes within any of the below listed categories. Subscriber has indicated, by marking and initialing
the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “institutional
account.”

 

 ̈
a bank, savings and loan association, insurance company or registered investment company;

 

 ̈
an investment adviser registered either with the Commission under Section 203 of the Investment Advisers Act or with a state securities
commission (or any agency or office performing like functions); or

 

 ̈
any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million.

 

     

     

    

 

This page should be completed by Subscriber

and constitutes a part of the Subscription Agreement. 

 

Schedule A-1

 

Rule 501(a), in relevant part, states that an
 “accredited investor” shall mean any person who comes within any of the below listed categories, or who the Issuer reasonably
believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated,
by marking and initialing the appropriate box below, the provision(s) below that apply to Subscriber and under which Subscriber accordingly
qualifies as an “accredited investor.”

 

 ̈
Any bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in section
3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity;

 

 ̈
Any broker or dealer registered pursuant to section 15 of the Exchange Act;

 

 ̈
An investment adviser registered pursuant to section 203 of the Investment Advisers Act of 1940 or registered pursuant to the laws of
a state;

 

 ̈
An investment adviser relying on the exemption from registering with the Securities and Exchange Commission under section 203(l) or (m)
of the Investment Advisers Act of 1940;

 

 ̈
Any insurance company as defined in section 2(a)(13) of the Securities Act;

 

 ̈
Any investment company registered under the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48)
of the Securities Act;

 

 ̈
Any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small
Business Investment Act of 1958;

 

 ̈
A Rural Business Investment Company as defined in section 384A of the Consolidated Farm and Rural Development Act;

 

 ̈
Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000;

 

 ̈
Any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made
by a plan fiduciary, as defined in section 3(21) of such Act, which is either a bank, savings and loan association, insurance company,
or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan,
with investment decisions made solely by persons that are accredited investors;

 

 ̈
Any private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940;

 

 ̈
Any organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, partnership
or limited liability company, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of
$5,000,000;

 

     

     

    

 

This page should be completed by Subscriber

and constitutes a part of the Subscription Agreement. 

 

Schedule A-2

 

 ̈
Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase
is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of the Securities Act;

 

 ̈
An entity, of a type not listed in any of the foregoing paragraphs, not formed for the specific purpose of acquiring the securities offered,
owning investments in excess of $5,000,000;

 

 ̈
A “family office,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1):
(i) with assets under management in excess of $5,000,000, (ii) that is not formed for the specific purpose of acquiring the securities
offered, and (iii) whose prospective investment is directed by a person who has such knowledge and experience in financial and business
matters that such family office is capable of evaluating the merits and risks of the prospective investment;

 

 ̈
A “family client,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1),
of a family office meeting the requirements in the foregoing paragraph and whose prospective investment in the issuer is directed by such
family office pursuant to clause (iii) in the foregoing paragraph;

 

 ̈
Any natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds
$1,000,000.  For purposes of calculating a natural person’s net worth: (a) the person’s primary residence must not be
included as an asset; (b) indebtedness secured by the person’s primary residence up to the estimated fair market value of the primary
residence must not be included as a liability (except that if the amount of such indebtedness outstanding at the time of calculation exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such
excess must be included as a liability); and (c) indebtedness that is secured by the person’s primary residence in excess of the
estimated fair market value of the residence must be included as a liability;

 

 ̈
Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s
spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current
year; or

 

 ̈
Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

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