Document:

krus-ex42_304.htm

Exhibit 4.2

DESCRIPTION OF CAPITAL STOCK

General

The following is a summary of our capital stock and provisions of our amended and restated certificate of incorporation and our amended and restated bylaws. This summary does not purport to be complete and is qualified in its entirety by the provisions of our amended and restated certificate of incorporation and amended and restated bylaws, copies of which have been filed as exhibits to this Annual Report on Form 10-K.

Our authorized capital stock consists of 50,000,000 shares of Class A common stock, $0.001 par value per share, 10,000,100 shares of Class B common stock, $0.001 par value per share, and 1,000,000 shares of preferred stock, $0.001 par value per share. We sometimes refer to our Class A common stock and Class B common stock as “equity interests” when described on an aggregate basis.

Class A Common Stock

Pursuant to our amended and restated certificate of incorporation, holders of our common stock will be entitled to one vote on all matters submitted to a vote of stockholders, and holders of our common stock will not be entitled to cumulative voting in the election of directors. This means that the holders of a majority of the combined voting power of our outstanding equity interests will be able to elect all of the directors then standing for election. Subject to the rights, if any, of the holders of any outstanding series of preferred stock, holders of our Class A common stock shall be entitled to receive dividends out of any of our funds legally available when, as and if declared by the board of directors. Upon the dissolution, liquidation or winding up of the Company, subject to the rights, if any, of the holders of our preferred stock, the holders of our equity interests shall be entitled to receive the assets of the Company available for distribution to its stockholders ratably in proportion to the number of shares held by them. Holders of Class A common stock will not have preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to our common stock. All outstanding shares of Class A common stock are fully paid and nonassessable.

Class B Common Stock

Pursuant to our amended and restated certificate of incorporation, our Class B common stock has the same rights as our Class A common stock except for (i) certain conversion rights as described below under “—Conversion Rights” below, and (ii) on all matters to be voted on by stockholders, holders of our Class A common stock are entitled to one vote per share while holders of our Class B common stock are entitled to 10 votes per share. Subject to the rights, if any, of the holders of any outstanding series of preferred stock, holders of our Class B common stock shall be entitled to receive dividends out of any of our funds legally available when, as and if declared by our board of directors. Upon our dissolution, liquidation or winding up, subject to the rights, if any, of the holders of our preferred stock, the holders of shares of our equity interests shall be entitled to receive the assets of the Company available for distribution to its stockholders ratably in proportion to the number of shares held by them. Holders of Class B common stock will not have preemptive or other subscription rights. There are no redemption or sinking fund provisions applicable to our Class B common stock. All outstanding shares of Class B common stock are fully paid and nonassessable.

Kura Sushi, Inc. (“Kura Japan”) is the only holder of shares of Class B common stock.

Conversion Rights

Shares of Class A Common Stock have no conversion rights. Each share of our Class B common stock is automatically convertible into one share of Class A common stock upon the earliest of the date such share ceases to be beneficially owned, as such term is defined under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), by Kura Japan, or the date that Kura Japan ceases to beneficially own at least 20.0% of the total number of shares of Class A and Class B common stock outstanding. In addition, each share of Class B common stock may be converted at any time into one share of Class A common stock at the option of the holder. The one-to-one conversion ratio will be equitably preserved in the event of any stock dividend, stock split or combination or merger, consolidation or other reorganization by us with another entity. Except for the foregoing conversion rights of the Class B common stock and provisions applicable equally to both Class A common stock and Class B common stock, including, but not limited to, the repurchase of such shares by the Company, there are 

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no provisions which otherwise limit the lifespan of the Class B common stock or would require conversion to Class A common stock.

Preferred Stock

Subject to limitations prescribed by law and in our amended and restated certificate of incorporation, our Board of Directors is authorized to provide by resolution for the issuance of the shares of preferred stock in one or more series, and to establish from time to time the number of shares to be included in each such series, and to fix the designation, powers, privileges, preferences, and relative participating, optional or other rights, if any, of the shares of each such series and the qualifications, limitations or restrictions thereof. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of the Company. 

Voting Rights

Except as required by Delaware law or except as otherwise provided in our amended and restated certificate of incorporation, Class A common stock and Class B common stock will vote together as a single class on all matters presented to a vote of stockholders, including the election of directors. Each holder of Class A common stock is entitled to one vote for each share held of record on the applicable record date for all of these matters, while each holder of Class B common stock is entitled to 10 votes for each share held of record on the applicable record date for all of these matters.

Holders of Class A common stock have no cumulative voting rights or preemptive rights to purchase or subscribe for any stock or other securities, and there are no conversion rights or redemption or sinking fund provisions with respect to Class A common stock. Class B common stock is identical in all respects to Class A common stock, except with respect to voting and conversion rights. Kura Japan will be the only holder of shares of Class B common stock.

Anti-Takeover Effects of Delaware Law, Our Amended and Restated Certificate of Incorporation and Our Amended and Restated Bylaws

Certain provisions of Delaware law and our amended and restated certificate of incorporation and amended and restated bylaws could make the acquisition of the Company more difficult. These provisions of the Delaware General Corporation Law could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire us. These provisions, summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and are designed to encourage persons seeking to acquire control of us to negotiate with our board of directors.

 

Stockholder meetings. Under our amended and restated certificate of incorporation and amended and restated bylaws, only the board of directors, or the chairman of the board of directors or the Chief Executive Officer with the concurrence of a majority of the board of directors, may call special meetings of stockholders.

Requirements for advance notification of stockholder nominations and proposals. Our amended and restated bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors.

Stockholder action by written consent permitted only if our parent company and its affiliates own a majority of the voting power of the equity interests. Our amended and restated certificate of incorporation authorizes the right of stockholders to act by written consent without a meeting only for such period as Kura Japan and its affiliates collectively own a majority of the combined voting power of our outstanding equity interests. This provision will, in certain situations, make it more difficult for stockholders, who are not our parent company or its affiliates, to take action opposed by the board of directors.

Undesignated preferred stock. The authorization of undesignated preferred stock makes it possible for the board of directors, without stockholder approval, to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to obtain control of us. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of the Company.

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Amendment of provisions in the certificate of incorporation. Our amended and restated certificate of incorporation will require the affirmative vote of the holders of at least two-thirds of the combined voting power of our outstanding equity interests in order to amend any provision of our certificate of incorporation.

Amendment of provisions in the bylaws. Our amended and restated bylaws will require the affirmative vote of the holders of at least two-thirds of the combined voting power of our outstanding equity interests in order to amend any provision of our bylaws.

Controlled company. As discussed above, our Class B common stock has 10 votes per share, while Class A common stock is the only class of stock that is publicly traded and has one vote per share. 100% of our Class B common stock is held by Kura Japan. Until our dual class structure terminates, Kura Japan will be able to control all matters submitted to our stockholders for approval even if it owns significantly less than 50% of the number of shares of our outstanding equity interests. This concentrated control could discourage others from initiating any potential merger, takeover or other change of control transaction that other stockholders may view as beneficial.

We anticipate that we will not be governed by Section 203 of the Delaware General Corporation Law.

Exclusive Forum

Our amended and restated certificate of incorporation and amended and restated bylaws each contain an exclusive forum provision providing that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for: (1) any derivative action or proceeding brought on our behalf, (2) any action asserting a claim of breach of a fiduciary duty owed by, or other wrongdoing by, any of our directors, officers, employees, agents or stockholders, (3) any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, our amended and restated certificate of incorporation or our amended and restated bylaws, or (4) any action asserting a claim that is governed by the internal affairs doctrine. However, Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.

 

In addition, Section 22 of the Securities Act of 1933, as amended (the “Securities Act”) creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. As a result, the exclusive forum provisions will not apply to suits brought to enforce any duty or liability created by the Securities Act or any other claim for which the federal and state courts have concurrent jurisdiction, and our stockholders will not be deemed to have waived our compliance with the federal securities laws and the rules and regulations thereunder.

Any person purchasing or otherwise acquiring any interest in any shares of our capital stock shall be deemed to have notice of and to have consented to this provision included in our amended and restated certificate of incorporation and our amended and restated bylaws. The exclusive forum provisions, if enforced, may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other employees, which may discourage such lawsuits. Alternatively, if a court were to find the exclusive forum provisions to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could have a material adverse effect on our business, financial condition, results of operations and growth prospects. For example, the Court of Chancery of the State of Delaware recently determined that a provision stating that U.S. federal district courts are the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act is not enforceable.

Transfer Agent and Registrar

Computershare Trust Company, N.A. is the transfer agent and registrar for our common stock.

 

Listing

Our Class A common stock is listed on the Nasdaq Global Market under the symbol “KRUS.”

 

 

3EX-10.1

 Exhibit 10.1 
  

	
	 Contribution and Exchange Agreement

 
  
  

 Dated      November 2020 

[                    ] 

(the Contributor) 
 Arrival Group 

(the Issuer) 
 Ref: L-301355 

 This Agreement is made on      November 2020 by and between: 

 

	(1)	
[                    ], a company
incorporated in [                    ] and whose registered office is at
[                    ], with registration number
[                    ] a; 

(the “Contributor”); and 
  

	(2)	 Arrival Group, a public limited liability company (société anonyme) governed by the
laws of the Grand Duchy of Luxembourg, with registered office at 1, rue Peternelchen, L-2370 Howald, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies under number
B248209; 

 (the “Issuer”) 

In the presence of 
  

	(3)	 Arrival S.à r.l., a société à responsabilité limitée
governed by the laws of the Grand Duchy of Luxembourg, with registered office at 1, rue Peternelchen, L-2370 Howald, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and
Companies under number B200789; 

 (the “Company”). 

The Contributor and the Issuer are collectively referred to as the “Parties” and individually as a “Party”. 

Whereas: 
  

	(A)	 The Contributor holds shares in the share capital of the Company (the “Contributed Shares”) as
indicated in the table annexed as Schedule 1 to this Agreement. 

  

	(B)	 On the terms of a business combination agreement dated on or around the date of this Agreement and entered into
by and between, inter alios, the Company and the Issuer (the “BCA”), a copy of which is attached as Schedule 2 to this Agreement, it is proposed that (i) all the shareholders of the Company holding preferred A
convertible preference shares (the “Company Preferred Shareholders”) contribute all of their shares in kind to the Issuer in exchange for new ordinary shares to be issued by the Issuer (the “Preferred Shares
Exchange”) and (ii) all the shareholders of the Company holding ordinary shares contribute all of their shares in kind to the Issuer in exchange for new ordinary shares to be issued by the Issuer (the “Ordinary Shares
Exchange”). 

  

	(C)	 The Contributor has agreed, subject to the Condition (as defined in section 2 of this Agreement), to contribute
the Contributed Shares to the Issuer against new ordinary shares to be issued by the Issuer in the numbers and proportions as set out in the Schedule 3 (the “Issued Shares”), with effect at 12:01 a.m. New York time on the
third (3rd) Business Day (as defined in the BCA) following the completion of the Condition (the “Preferred Share Effective Time”). The Issued Shares shall be issued for a total
amount including a share premium as indicated in the Schedule 3. 

  

	(D)	 The Contributor has agreed to pay for the Issued Shares by way of a contribution in kind which consists of the
Contributed Shares (the “Contribution”). The Contribution includes all the rights, commitments and obligations, known or unknown, which can or could be attached thereto in any manner whatsoever. 

 

	(E)	 It is contemplated that the Contributor, the Company and the Issuer, inter alios, enter into an English
law governed Supplemental Deed (the “Supplemental SHA”) to the Second Amended and Restated Shareholders’ Agreement of the Company, dated as of October 12,

  
  

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2020, as may be further amended and restated from time to time (the “SHA”) pursuant to which, inter alia, the Contributor and the Company: (i) acknowledge the
Preferred Shares Exchange and (ii) the Contributor is deemed to remain as a Preferred A Shareholder (as defined under the SHA) for purposes of its rights and obligations under the SHA. It is further contemplated that the Issuer adhere to the
SHA upon completion of the Preferred Shares Exchange. 

 It is agreed as follows: 

 

	1	 Consent 

The Contributor irrevocably consents to the Preferred Shares Exchange and the Ordinary Shares Exchange and all the transactions contemplated
under the BCA and the Transaction Documents (as defined in the BCA) to which the Contributor is a party. 
  

	2	 Condition to the Contribution and Issuance of the Issued Shares 

The obligations of the Parties under clauses 3 and 4 of this Agreement are subject to the prior issuance by a Luxembourg independent statutory
auditor (réviseur d’entreprises agréé) engaged by the Issuer, at or before the Preferred Share Effective Time, of a report on the contributions in kind relating the Preferred Shares Exchange prepared in accordance
with article 420-10 of the Luxembourg law on commercial companies dated 10 August 1915, as amended (the “Condition”). 

The Parties acknowledge that Preferred Shares Exchange shall occur on the Preferred Share Effective Time for all Company Preferred Shareholders
simultaneously and the Issuer, endeavours, and commits on a best efforts basis, to have the Condition fulfilled to allow for the Contribution to occur as soon as possible on or after 1 January 2021. 

 

	3	 Contribution and Issuance of Issued Shares 

 

	3.1	 On the Preferred Share Effective Time and subject to the Condition: 

 

	 	(i)	 the Contribution shall be contributed to the Issuer; 

 

	 	(ii)	 the Contribution shall be contributed in full and complete satisfaction of the issue and allotment to the
Contributor of the Issued Shares by the Issuer; 

  

	 	(iii)	 the Issued Shares shall be issued by the Issuer and allotted to the Contributor; 

 

	 	(iv)	 the Issued Shares shall be issued and allotted in full and complete satisfaction of the Contribution;

  

	 	(v)	 the Issued Shares shall be issued and allotted to the Contributor as fully paid shares; and

  

	 	(vi)	 the Issuer shall register the Issued Shares in the name of the Contributor in the Issuer’s share register
as at the date of issue. 

  

	3.2	 The Contributor represents and warrants that it is the sole lawful owner of the Contribution and that
these items are free of any lien, encumbrance, pre-emption rights or other similar rights and is freely transferable and/or assignable to the Issuer and not subject to any third party rights and that any and
all necessary consents for transfer that may be required under (i) any shareholder agreement existing between the Contributor and any other shareholders of the Company or (ii) articles of association of the Company has been complied with
or waived. 

  
  

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	3.3	 The Contributor represents and warrants that the Contribution will not: 

 

	 	3.3.1	 conflict with or violate its organizational or governance documents; or 

 

	 	3.3.2	 conflict with or violate any Law (as defined in the BCA) applicable to the Contributor;

  

	3.4	 The Contributor represents and warrants that there is no Action (as defined in the BCA) pending or
threatened in writing against the Contributor or any property or asset of the Contributor that would prevent, materially delay or materially impede the performance by the Contributor of its obligations under this Agreement. 

 

	3.5	 The Contributor represents and warrants that no broker, finder, or investment banker is entitled to any
brokerage, finder’s or other fee or commission in connection with the Contribution based upon arrangements made by or on behalf of the Contributor. 

  

	3.6(1)	 The Contributor agrees, notwithstanding any rights or privileges the Contributor may have regarding the
ability to Transfer (as defined below) any of the Contributed Shares pursuant to applicable Law (as defined in the BCA), the Company Organizational Documents (as defined in the BCA) or the SHA, not to Transfer any of the Contributed Shares before
the earlier of the implementation of the Preferred Shares Exchange or termination of the BCA in accordance with its terms, which termination, as the case may be, shall be confirmed by the Company to the Issuer and Contributor at the latest five
(5) calendar days following such termination[; provided that nothing herein shall prohibit a Transfer to an Affiliate that agrees in writing to assume all of the obligations under, and be bound by all of the terms of, this Agreement]. A
Transfer or attempted Transfer of any Contributed Shares in breach of this clause 3.6 shall be null and void and have no effect towards the Company, and the Company shall refuse to record in the shareholders’ registry of the Company any
Transfer or other transaction made on such Contributed Shares and to recognize in that case any right to third parties in or against the Company. For purposes of this clause 3.6, [(A)] the “Transfer” of any Contributed Share shall mean the
transfer of either or both of the legal and beneficial ownership in such Contributed Share, and/or the grant of an option or right to acquire either or both of the legal and beneficial ownership in such Contributed Share, and shall include:
(i) any direction (by way of renunciation or otherwise) by a person entitled to an allotment or issue of any Contributed Share, that such Contributed Share be allotted or issued to some other person; (ii) any sale or other
disposition of any legal or equitable interest in a Contributed Share (including any attached voting right) and whether or not by the registered holder thereof and whether or not for consideration or otherwise and whether or not effected by an
instrument in writing; (iii) any grant or creation of a Lien (as defined in the BCA) over any Contributed Share; and (iv) any agreement, whether or not subject to any conditions, to do any of the foregoing [and (B)
“Affiliate” shall mean each other person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with the Contributor; with “control” (including with correlative
meanings, “controlled by” and “under common control with”) meaning possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of voting securities or by
contract or other agreement)]. 

  

	3.7(2)	 The Contributor further agrees not to Transfer any of the Issued Shares before the earlier of the
implementation or termination of the BCA in accordance with its terms (subject also to any lock arrangement that the Contributor may have entered into)[; provided that nothing herein shall prohibit a Transfer to an Affiliate that agrees in writing
to assume all of the obligations under, and be bound by all of the terms of, this Agreement]. A Transfer or attempted Transfer of any Issued Shares in breach of this clause 3.7 shall be null and void and have no effect towards the Issuer or any the
Contributor’s obligations hereunder (including the Contributor’s obligations pursuant to article 4), and the Issuer shall refuse to record in the shareholders’ registry of the Issuer any Transfer or other transaction made on such
Issued Shares and to recognize in that case any right to third parties in or against the Issuer. For purposes of this clause 3.7, [(A)] the “Transfer” of any Issued Share shall mean the transfer of either or both of the legal and
beneficial ownership in such Issued Share, and/or the grant of an option or right to acquire either or both of the legal and beneficial ownership in such 

  
  

	(1) 	 Bracketed language in this Section 3.6 shall only be included in the Contribution and Exchange Agreements of
certain Company Preferred Shareholders. 

	(2) 	 Bracketed language in this Section 3.7 shall only be included in the Contribution and Exchange Agreements of
certain Company Preferred Shareholders. 

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Issued Share, and shall include: (i) any direction (by way of renunciation or otherwise) by a person entitled to an allotment or issue of any Issued Share, that such Issued Share be
allotted or issued to some other person; (ii) any sale or other disposition of any legal or equitable interest in a Issued Share (including any attached voting right) and whether or not by the registered holder thereof and whether or not for
consideration or otherwise and whether or not effected by an instrument in writing; (iii) any grant or creation of a Lien (as defined in the BCA) over any Issued Share; and (iv) any agreement, whether or not subject to any
conditions, to do any of the foregoing [and (B) “Affiliate” shall mean each other person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with the Contributor; with
“control” (including with correlative meanings, “controlled by” and “under common control with”) meaning possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether
through ownership of voting securities or by contract or other agreement)]. 

  

	4	 Power of attorney and commitments 

 

	4.1	 Until completion of the Ordinary Shares Exchange, the Contributor hereby commits to vote its shares in
the Issuer in the manner as directed by the Company for the purposes of implementing the BCA Transactions (as defined below). 

  

	4.2	 The Contributor hereby irrevocably instructs, authorises and empowers any director of the Issuer or any
manager of the Company, or any lawyer at Linklaters LLP, Luxembourg, each of them acting individually, with power of substitution, as the Contributor’s true and lawful agent and
attorney-in-fact to, provided that, in any case and for the avoidance of doubt, not in a way that would reasonably be expected to materially adversely negatively impact
the rights of the Contributor: 

  

	 	4.2.1	 register, in their name and on their behalf, the transfer of the Contribution in the share register of
the Company and the issuance of the Issued Shares in the share register of the Issuer, and perform any and all publication or registration formalities that may be necessary in relation with the afore Contribution and Issuance of the Issued Shares;

  

	 	4.2.2	 take all actions and do such things on behalf and in the name of the Contributor that are necessary or
desirable for the Contributor to take or to do in order for the Preferred Shares Exchange, the Ordinary Shares Exchange, the Holdco Ordinary Shares Merger Issuance (as defined under the BCA), the Merger (as defined under the BCA), the restatement of
the articles of association of the Company, the restatement of the articles of association of the Issuer, and any other transaction contemplated under the BCA (the “BCA Transactions”); 

 

	 	4.2.3	 represent the Contributor at any meeting or any adjourned meeting of the general meeting of shareholders
of the Company or the Issuer convened for the purpose of implementing any of the BCA Transactions, waive any convening formalities, vote in the name and on behalf of the Contributor on any resolution submitted to said meeting, sign any documents,
shareholder proxy, written consent or resolutions, delegate under his own responsibility the present proxy to another representative and, in general, do whatever seems appropriate or useful, provided that the Contributor shall, to the extent
practicable, be informed reasonably in advance (including via email) of such meetings or resolutions to be taken; and 

  

	 	4.2.4	 agree or amend the form, terms and conditions of, to certify any and all documents as certified true
copies and to make, sign, execute and do, and all such deeds, instruments, share registers, agreements, applications, forms, declarations, confirmations, notices, acknowledgements, letters, certificates, minutes, powers-of-attorney, general assignments, and any other documents relating to and required or desirable to implement the BCA Transactions promising ratification provided that the Contributor shall, to the
extent practicable, be informed reasonably in advance (including via email) and provided with such documents. 

  
  

A42934467 
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	4.3	 The Contributor hereby commits to provide the Issuer and/or Company, immediately upon request from the
Issuer and/or Company, as applicable, all documents and information which are reasonably required for the purpose of complying with applicable anti-money laundering laws and regulations (including without limitation the Luxembourg law of
12 November 2004 on the fight against money laundering and the financing of terrorism as amended) in the context of the implementation of the BCA Transactions or that would be required from a notary residing in Luxembourg for the same purposes.

  

	4.4	 The Issuer hereby commits to, upon implementation of the Contribution and issuance of the Issued Shares
pursuant to clause 3 above and until completion of the Merger (as defined under the BCA), exercise the current rights (including the voting rights) of the Contributor under the SHA and the Supplemental SHA for the benefit of the Contributor and in
accordance with the instructions of the Contributor. 

  

	5	 Notices 

All notices, requests, permissions, waivers and other communications hereunder shall be in writing in the English language and shall be deemed
to have been duly given if signed by the respective persons giving them (in the case of a company, the signature shall be by an officer thereof) and delivered by hand, or deposited in the mail (registered, return receipt requested), properly
addressed and postage prepaid or by facsimile (provided the same is confirmed by mail, as above sent within one (1) day of dispatch) to the registered office of the other Party. 

 

	6	 Entire Agreement – Amendments 

This Agreement contains the entire understanding of the parties hereto with respect to the subject matter contained herein, supersedes and
cancels all prior agreements with respect hereto and may be amended only by a written instrument executed by the parties or their respective successors or assigns. The section and clause headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
  

	7	 Invalidity 

If any of the provisions of this Agreement is held invalid or unenforceable, and unless the invalidity or unenforceability thereof does
substantial violence to the underlying intent and sense of the remainder of this Agreement, such invalidity or unenforceability shall not affect in any way the validity or enforceability of any other provisions of this Agreement except the
invalidated or unenforceable provision. In the event any provision is held invalid or unenforceable, the Parties shall attempt to agree on a valid and enforceable provision which shall be a reasonable substitute for such invalid or unenforceable
provision in the light of the content of this Agreement and, on so agreeing, shall incorporate such substitute provision in this Agreement. 

  
  

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	8	 Counterparts and Signatures 

This Agreement may be executed in one or more counterparts. A set of counterparts, containing the signatures of all the Parties hereto, shall
between them constitute one single agreement. 
 Each Party shall receive and keep a copy of the original in due evidence of this Agreement,
the original being kept with the Issuer. 
  

	9	 Governing Law and Jurisdiction 

This Agreement and any non-contractual obligations arising out of or in connection with it shall be
governed by and construed in accordance with Luxembourg law. 
 The Parties irrevocably agree that the courts of Luxembourg City (Grand Duchy
of Luxembourg) have exclusive jurisdiction to settle any dispute which may arise out of or in connection with this Agreement. 

[Signature pages follows] 

  
  

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 IN WITNESS whereof this Agreement has been entered into the day and year first above written. 

[signature page follows] 

  
  

A42934467 
 7 

 SIGNATURE PAGE 

 

			
	  

	
	Arrival Group
		
	By:	 	
	Title:	 	Authorised signatory

  
  

A42934467 
 8 

			
	[                    ]
		
	By	 	  

	Name:	 	
	Title:	 	Authorised signatory

  
  

A42934467 
 9 

 The Company declares for the purpose of article 710-13 of the
Luxembourg law of 10 August 1915 on commercial companies, as amended, to duly acknowledge and accept the aforementioned Contribution of the Contributed Shares and authorises any manager of the Company or any lawyer at Linklaters LLP,
Luxembourg, each acting individually with power of substitution, to register, in its name and on behalf of the Company, the transfer of the Contributed Shares in the shareholders’ register of the Company and perform any and all publication or
registration formalities that may be necessary in relation with the aforementioned Contribution of the Contributed Shares. 
  

					
	Arrival S.à r.l.
		
	By	 	  

		 	Name:	 	
		 	Title: Authorised signatory

  
  

A42934467 
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 Schedule 1 – Contributed Shares 

 

			
	 Contributor
	  	 Contributed Shares

	
[                  
  ]
	  	[                    ] preferred A convertible preference shares in Arrival S.à r.l.

  
  

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 Schedule 2 – Business Combination Agreement 

  
  

A42934467 
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 Schedule 3 – Issued Shares 

 

					
	 Contributor
	  	 Issued Shares
	  	 Share premium

	
[                  
  ]
	  	[                    ] Ordinary Shares	  	EUR [                    ]

  
  

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