Document:

Exhibit 4.74

 

Execution Copy

 

AMENDED
AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the 20th
of December, 2019, by and among Brooge Holdings Limited, a Cayman Islands exempted company (including any successor entity
thereto, the “Company”), and the undersigned parties listed under Investor on the signature page hereto
and their respective successors and permitted assigns (each, an “Investor” and collectively, the “Investors”).
Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Business Combination
Agreement (defined below).

 

WHEREAS,
Twelve Seas Investment Company, a Cayman Islands exempted company (“12 Seas”), Twelve Seas Sponsors
I LLC (“Sponsor”), Gregory Stoupnitsky (“Stoupnitsky”), Suneel G Kaji (“Kaji”
and collectively with Sponsor and Stoupnitsky, the “Initial Shareholders”) and EarlyBirdCapital. Inc.,
a Delaware corporation (“EarlyBird”), are parties to that certain Registration Rights Agreement, dated
as of June 19, 2018 (the “Original Agreement”), pursuant to which 12 Seas granted certain registration
rights to the Iniitial Shareholders and EarlyBird with respect to the 12 Seas’ securities;

 

WHEREAS,
on April 15, 2019, (i) the Company, (ii) 12 Seas, (iii) Brooge Merger Sub Limited, Cayman Islands exempted company and a wholly-owned
subsidiary of the Company (“Merger Sub”), and (iv) Brooge Petroleum And Gas Investment Company FZE,
a company formed under the laws of the Fujairah Free Zone, UAE (“BPGIC”), entered into that certain
Business Combination Agreement, pursuant to which BPGIC Holdings Limited, a Cayman Islands exempted company (“Seller”),
also become a party thereafter pursuant to the Assignment and Joinder to Business Combination Agreement dated as of November 19,
2019 (as assignee of Brooge Petroleum and Gas Investment Company (BPGIC) PLC, a company formed under the laws of England and Wales,
which became a party to the Business Combination Agreement pursuant to a Joinder to Business Combination Agreement dated as of
May 10, 2019) (as amended prior to the date hereof, including by the foregoing joinders and by the First Amendment to Business
Combination Agreement, dated as of September 16, 2019, and as it may be amended after the date hereof, the “Business
Combination Agreement”);

 

WHEREAS,
pursuant to the Business Combination Agreement, subject to the terms and conditions thereof, among other matters, upon the consummation
of the transactions contemplated thereby (the “Closing”), (i) 12 Seas will merge with and into Merger
Sub, with 12 Seas continuing as the surviving entity and a wholly-owned subsidiary of the Company, and with holders of 12 Seas’
securities receiving substantially equivalent securities of the Company (the “Merger”), and (ii) the
Company will acquire all of the issued and outstanding capital shares of BPGIC from Seller in exchange for ordinary shares of
the Company, with BPGIC becoming a wholly-owned subsidiary of the Company;

 

WHEREAS,
the parties hereto desire to amend and restate the Original Agreement in its entirety to add the Company as a party to thereto
and to revise the terms hereof in order to reflect the transactions contemplated by the Business Combination Agreement, including
the issuance of the ordinary shares of the Company and the warrants of the Company thereunder, and for certain other matters as
set forth herein; and

 

WHEREAS,
pursuant to Section 6.7 of the Original Agreement, the Original Agreement can be amended with the written consent of 12 Seas and
the holders of a majority of the Registrable Securities (as defined in the Original Agreement) at the time in question, which
must include the consent of EarlyBird.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITIONS.
The following capitalized terms used herein have the following meanings:

 

“12
Seas” is defined in the recitals to this Agreement.

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

     

     

    

 

“BPGIC”
is defined in the recitals to this Agreement.

 

“BPGIC
Registration Rights Agreement” means that certain Registration Rights Agreement by and between the Company and Seller,
to be entered into in connection with the consummation of the transactions contemplated by the Business Combination Agreement.

 

“BPGIC
Securities” means those securities included in the definition of “Registrable Securities” specified
in the BPGIC Registration Rights Agreement.

 

“Business
Combination” means the acquisition of direct or indirect ownership through a merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or other similar type of transaction, of one or more businesses or entities having
a collective fair market value of at least 80% of the balance in 12 Seas’ trust account at the time of the execution of
a definitive agreement for such transaction.

 

“Business
Combination Agreement” is defined in the recitals to this Agreement.

 

“Closing”
is defined in the recitals to this Agreement.

 

“Closing
Date” means the date on which the Closing occurs.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange
Act.

 

“Company”
is defined in the preamble to this Agreement, and shall include the Company’s successors by merger, acquisition, reorganization
or otherwise.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Demanding
Holder” is defined in Section 2.1.1.

 

“Dispute”
is defined in Section 6.9.

 

“EarlyBird”
is defined in the recitals to this Agreement.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, all as the same shall be in effect at the time.

 

“Founder
Share Escrow Agreement” means the Share Escrow Agreement, dated as of June 19, 2018 (as amended, including by the
Amendment to Share Escrow Agreement on December 20, 2019), by and among 12 Seas, the Company, the Initial Shareholders and Continental
Stock Transfer & Trust Company, as escrow agent.

 

“ICC”
means the International Chamber of Commerce Arbitration or any successor entity conducting arbitrations.

 

“ICC
Procedures” is defined in Section 6.9.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Initial
Shareholder Escrow Agreement” means the Initial Shareholder Escrow Agreement, dated as of December 20, 2019, as
amended, by and among the Company, the Initial Shareholders and Continental Stock Transfer & Trust Company, as escrow agent.

 

“Initial
Shareholders” is defined in the recitals to this Agreement.

 

    2

     

    

 

“Initial
Shares” means the outstanding Ordinary Shares of the Company issued or issuable in the Merger in exchange for the
ordinary shares of 12 Seas that were issued by 12 Seas prior to the consummation of the IPO, and includes any warrants, share
capital or other securities of the Company or successor entity issued as a dividend or other distribution with respect to or in
exchange for or in replacement of the foregoing securities.

 

“Investor(s)”
is defined in the preamble to this Agreement, and include any transferee of the Registrable Securities (so long as they remain
Registrable Securities) of an Investor permitted under this Agreement.

 

“Investor
Indemnified Party” is defined in Section 4.1.

 

“IPO”
means the initial public offering of 12 Seas.

 

“Kaji”
is defined in the recitals to this Agreement.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

  

“Merger”
is defined in the recitals to this Agreement.

 

“Merger
Sub” is defined in the recitals to this Agreement.

 

“Ordinary
Shares” means the ordinary shares, par value $0.0001 per share, of the Company, along with any equity securities
paid as dividends or distributions after the Closing with respect to such shares or into which such shares are exchanged or converted
after the Closing.

 

“Original
Agreement” is defined in the recitals to this Agreement.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

“Private
Securities” means the Ordinary Shares and private warrants of the Company (and the Ordinary Shares underlying such
private warrants) issued or issuable in the Merger (including the Ordinary Shares issuable for the 12 Seas’ rights upon
the Closing) in exchange for the 529,000 units of 12 Seas that were issued to the Sponsor in a private placement that closed concurrently
with the closing of the IPO and the private placement over-allotment units issued thereafter, and includes any warrants, share
capital or other securities of the Company or successor entity issued as a dividend or other distribution with respect to or in
exchange for or in replacement of the foregoing securities.

 

“Pro
Rata” is defined in Section 2.1.4.

 

“Register,”
“Registered” and “Registration” mean a registration or offering effected by
preparing and filing a registration statement 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.

 

“Registrable
Securities” means (i) the Initial Shares, (ii) the Private Securities (and all underlying securities), and (iii)
the Representative Securities, including any securities held in escrow under the Founder Share Escrow Agreement, the Initial Shareholder
Escrow Agreement or other escrow arrangements that an Investor may have with respect to all or a portion of the foregoing securities.
Registrable Securities include any warrants, shares of capital stock or other securities of the Company or any successor entity
issued as a dividend or other distribution with respect to or in exchange for or in replacement of the foregoing securities. As
to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (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; (b) such securities shall have
been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered
by the Company and subsequent public distribution of them shall not require registration under the Securities Act; (c) such securities
shall have ceased to be outstanding, or (d) the Registrable Securities are freely saleable under Rule 144 without volume limitations.
Notwithstanding anything to the contrary contained herein, a Person shall be deemed to be an “Investor holding Registrable
Securities” (or words to that effect) under this Agreement only if they are an Investor or a permitted transferee of the
applicable Registrable Securities (so long as they remain Registrable Securities) of any Investor permitted under this Agreement,
the Founder Share Escrow Agreement and the Initial Shareholder Escrow Agreement.

 

    3

     

    

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities
Act and the rules and regulations promulgated thereunder for a public offering and sale or resale of equity securities, or securities
or other obligations exercisable or exchangeable for, or convertible into, equity securities, including all amendments thereto
(other than a registration statement on Form S-4, F-4 or Form S-8, or their successors, or any registration statement covering
only securities proposed to be issued in exchange for securities or assets of another entity).

 

“Release
Date” means with respect to any applicable Initial Shares, the date on which such Initial Shares are disbursed from
escrow pursuant to Section 3 of the Founder Share Escrow Agreement and, if applicable, Section 5 of the Initial Shareholder Escrow
Agreement; provided that with respect to the Initial Shares transferred to the escrow account under the Initial Shareholder Escrow
Agreement, such Initial Shares shall instead have a Release Date of the date that such Initial Shares are released from escrow
to the Initial Shareholders (or their assignees) under the Initial Shareholder Escrow Agreement if later than the date that they
would have otherwise been disbursed under the Founder Share Escrow Agreement.

 

“Representative
Securities” mean the outstanding Ordinary Shares of the Company issued or issuable in the Merger in exchange for
the ordinary shares of 12 Seas that were issued by 12 Seas to EarlyBird or its designees in connection with the IPO, and includes
any warrants, share capital or other securities of the Company or successor entity issued as a dividend or other distribution
with respect to or in exchange for or in replacement of the foregoing securities.

 

“Resolution
Period” is defined in Section 6.9.

 

“Rule
144” means Rule 144 promulgated under the Securities Act.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.

 

“Seller”
is defined in the recitals to this Agreement.

 

“Short
Form Registration” is defined in Section 2.3.

 

“Sponsor”
is defined in the recitals to this Agreement.

 

“Stoupnitsky”
is defined in the recitals to this Agreement.

 

“Underwriter”
means 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. 

 

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2. REGISTRATION
RIGHTS.

 

2.1 Demand
Registration.

 

2.1.1 Request
for Registration. Subject to Sections 2.4 and 3.5, at any time and from time to time on or after (i) the Closing Date with
respect to the Registrable Securities other than Initial Shares or (ii) the Release Date with respect to Registrable Securities
that are Initial Shares (or, solely with respect to Initial Shares that are subject to the Founder Share Escrow Agreement, but
not the Initial Shareholder Escrow Agreement, if earlier than the Release Date, ten (10) months after the Closing Date), Investors
holding a majority-in-interest of the Registrable Securities then issued and outstanding (for the avoidance of any doubt, any
Registrable Securities held in escrow under the terms of the Founder Share Escrow Agreement or the Initial Shareholder Escrow
Agreement shall be counted towards any majority-in-interest determination on behalf of the Investors under this Agreement) may
make a written demand for registration under the Securities Act of all or part of their Registrable Securities (a “Demand
Registration”). Any demand for a Demand Registration shall specify the number of Registrable Securities proposed
to be sold and the intended method(s) of distribution thereof. Within thirty (30) days following receipt of any request for a
Demand Registration, the Company will notify all other Investors holding Registrable Securities of the demand, and each Investor
holding Registrable Securities who wishes to include all or a portion of such Investor’s Registrable Securities in the Demand
Registration (each such Investor including Registrable Securities in such registration, a “Demanding Holder”)
shall so notify the Company within fifteen (15) days after the receipt by the Investor of the notice from the Company. Upon any
such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration,
subject to Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not be obligated to effect more than an
aggregate of two (2) Demand Registrations under this Section 2.1.1 in respect of all Registrable Securities. Notwithstanding anything
in this Section 2.1 to the contrary, the Company shall not be obligated to effect a Demand Registration, (i) if a Piggy-Back Registration
had been available to the Demanding Holder(s) within the one hundred twenty (120) days preceding the date of request for the Demand
Registration, including because the Company has sent a notice under Section 2.2.1 that it proposes to file a Registration Statement
for an offering for a capital raise on behalf of the Company, (ii) within sixty (60) days after the effective date of a previous
registration effected with respect to the Registrable Securities pursuant this Section 2.1 or (iii) during any period (not to
exceed one hundred eighty (180) days) following the closing of the completion of an offering of securities by the Company if such
Demand Registration would cause the Company to breach a “lock-up” or similar provision contained in the underwriting
agreement for such offering.

 

2.1.2 Effective
Registration. A registration will not count as a Demand Registration until the Registration Statement filed with the Commission
with respect to such Demand Registration has been declared effective and the Company has complied with all of its obligations
in all material respects under this Agreement with respect thereto; provided, however, that if, after such Registration Statement
has been declared effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any
stop order or injunction of the Commission or any other governmental agency or court, the Registration Statement with respect
to such Demand Registration will be deemed not to have been declared effective, unless and until, (i) such stop order or injunction
is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter elect to continue
the offering; provided, further, that the Company shall not be obligated to file a second Registration Statement until a Registration
Statement that has been filed is counted as a Demand Registration or is terminated.

 

2.1.3 Offering.
If a majority-in-interest of the Demanding Holders so elect and advise the Company as part of their written demand for a Demand
Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall either be in the form of
an underwritten offering or a non-underwritten offering. In the case of a form of underwritten offering, then the right of any
Demanding Holder to include its Registrable Securities in such registration shall be conditioned upon such Demanding Holder’s
participation in such underwriting and the inclusion of such Demanding Holder’s Registrable Securities in the underwriting
to the extent provided herein. All Demanding Holders proposing to distribute their Registrable Securities through such underwriting
shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for such underwriting
by a majority-in-interest of the Investors initiating the Demand Registration. Any Underwriter or Underwriters selected hereunder
shall be at the sole and absolute discretion of the Company.

 

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2.1.4 Reduction
of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering,
in good faith, advises the Company and the Demanding Holders in writing that the dollar amount or number of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company
desires to sell and the Ordinary Shares or other securities, if any, as to which registration by the Company has been requested
pursuant to written contractual piggy-back registration rights held by other security holders of the Company who desire to sell,
exceeds the maximum dollar amount or maximum number of shares that can be sold in such offering without adversely affecting the
proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar
amount or maximum number of shares, as applicable, the “Maximum Number of Shares”), then the Company
shall include in such registration: (i) first, the Registrable Securities as to which Demand Registration has been requested by
the Demanding Holders, and the BPGIC Securities for the account of any Persons who have exercised demand registration rights pursuant
to the BPGIC Registration Rights Agreement during the period under which the Demand Registration hereunder is ongoing (all pro
rata in accordance with the number of securities that each applicable Person has requested be included in such registration, regardless
of the number of securities held by each such Person (as long as they do not request to include more securities than they own)
(such proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum
Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause
(i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number
of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and
(ii), the Registrable Securities of Investors as to which registration has been requested pursuant to Section 2.2 and the BPGIC
Securities as to which registration has been requested pursuant to the applicable written contractual piggy-back registration
rights under the BPGIC Registration Rights Agreement, Pro Rata among the holders thereof based on the number of securities requested
by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares; and (iv)
fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and (iii),
the Ordinary Shares or other equity securities for the account of other Persons that the Company is obligated to register pursuant
to written contractual arrangements with such Persons that can be sold without exceeding the Maximum Number of Shares. In the
event that Company securities that are convertible into Ordinary Shares are included in the offering, the calculations under this
Section 2.1.4 shall include such Company securities on an as-converted to Ordinary Share basis. Notwithstanding anything to the
contrary herein, in the event that an offering under a Demand Registration is not underwritten, but the Company’s board
of directors reasonably determines in good faith that the dollar amount or number of Registrable Securities which the Demanding
Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company desires to sell and
the Ordinary Shares or other securities, if any, as to which registration by the Company has been requested pursuant to written
contractual piggy-back registration rights held by other security holders of the Company who desire to sell, exceeds the Maximum
Number of Shares, then the number of securities include in such registration shall be reduced in the same priority as underwritten
offerings under this Section 2.1.4.

  

2.1.5 Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any offering or sale (whether underwritten or otherwise)
or are not entitled to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding
Holders may elect to withdraw from such offering by giving written notice to the Company and the Underwriter or Underwriters of
their request to withdraw prior to the effectiveness of the Registration Statement filed with the Commission with respect to such
Demand Registration. If the majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand
Registration in such event, then such registration shall not count as a Demand Registration provided for in Section 2.1.

 

2.2 Piggy-Back
Registration.

 

2.2.1 Piggy-Back
Rights. Subject to Sections 2.4 and 3.5, if at any time on or after the Closing Date, the Company proposes to file a Registration
Statement under the Securities Act with respect to the registration of or an offering of equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for
security holders of the Company for their account (or by the Company and by security holders of the Company including pursuant
to Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan,
(ii) for an exchange offer or offering of securities solely to the Company’s existing security holders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
(x) give written notice of such proposed filing to Investors holding Registrable Securities as soon as practicable but in no event
less than ten (10) Business Days before the anticipated filing date, which notice shall describe the amount and type of securities
to be included in such registration or offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, of the offering, and (y) offer to Investors holding Registrable Securities in such notice
the opportunity to register the sale of such number of Registrable Securities as such Investors may request in writing within
five (5) Business Days following receipt of such notice (a “Piggy-Back Registration”). To the extent
permitted by applicable securities laws with respect to such registration by the Company or another demanding security holder,
the Company shall use its best efforts to cause such Registrable Securities to be included in such registration and shall use
its best efforts to cause the managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable
Securities requested to be included in a Piggy-Back Registration on the same terms and conditions as any similar securities of
the Company and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
of distribution thereof. All Investors holding Registrable Securities proposing to distribute their securities through a Piggy-Back
Registration that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary form with the
Underwriter or Underwriters selected for such Piggy-Back Registration.

 

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2.2.2 Reduction
of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises, in good faith, the Company and Investors holding Registrable Securities proposing to distribute their Registrable Securities
through such Piggy-Back Registration in writing that the dollar amount or number of Ordinary Shares or other Company securities
which the Company desires to sell, taken together with the Ordinary Shares or other Company securities, if any, as to which registration
has been demanded pursuant to written contractual arrangements with Persons other than the Investors holding Registrable Securities
hereunder, the Registrable Securities as to which registration has been requested under this Section 2.2, and the Ordinary Shares
or other Company securities, if any, as to which registration has been requested pursuant to the written contractual piggy-back
registration rights of other security holders of the Company, exceeds the Maximum Number of Shares, then the Company shall include
in any such registration:

 

(a) If
the registration is undertaken for the Company’s account: (i) first, the Ordinary Shares or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clause (i), the Registrable Securities of Investors as to which registration
has been requested pursuant to this Section 2.2 and the BPGIC Securities as to which registration has been requested pursuant
to the applicable written contractual piggy-back registration rights under the BPGIC Registration Rights Agreement, Pro Rata among
the holders thereof based on the number of securities requested by such holders to be included in such registration, that can
be sold without exceeding the Maximum Number of Shares; and (iii) third, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (i) and (ii), the Ordinary Shares or other equity securities for the account of other
Persons that the Company is obligated to register pursuant to separate written contractual arrangements with such Persons that
can be sold without exceeding the Maximum Number of Shares;

 

(b) If
the registration is a “demand” registration undertaken at the demand of Demanding Holders pursuant to Section 2.1:
(i) first, the Ordinary Shares or other securities for the account of the Demanding Holders that can be sold without exceeding
the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum
Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses
(i) and (ii), the Registrable Securities of Investors as to which registration has been requested pursuant to this Section 2.2
and the BPGIC Securities as to which registration has been requested pursuant to the applicable written contractual piggy-back
registration rights under the BPGIC Registration Rights Agreement, Pro Rata among the holders thereof based on the number of securities
requested by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares;
and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and
(iii), the Ordinary Shares or other equity securities for the account of other Persons that the Company is obligated to register
pursuant to separate written contractual arrangements with such Persons that can be sold without exceeding the Maximum Number
of Shares;

 

(c) If
the registration is a “demand” registration undertaken at the demand of holders of BPGIC Securities under the BPGIC
Registration Rights Agreement: (i) first, the BPGIC Securities for the account of the demanding holders, Pro Rata among such holders
based on the number of BPGIC Securities requested by such holders to be included in such registration, that can be sold without
exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Registrable Securities of Investors as to which registration has been requested pursuant to this Section
2.2 and the BPGIC Securities as to which registration has been requested pursuant to the applicable written contractual piggy-back
registration rights under the BPGIC Registration Rights Agreement, Pro Rata among the holders thereof based on the number of securities
requested by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares;
and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and
(iii), the Ordinary Shares or other equity securities for the account of other Persons that the Company is obligated to register
pursuant to separate written contractual arrangements with such Persons that can be sold without exceeding the Maximum Number
of Shares; and

 

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(d) If
the registration is a “demand” registration undertaken at the demand of Persons other than either Demanding Holders
under Section 2.1 or the holders of BPGIC Securities exercising demand registration rights under the BPGIC Registration Rights
Agreement: (i) first, the Ordinary Shares or other securities for the account of the demanding Persons that can be sold without
exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; ((iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Registrable Securities of Investors as to which registration has been requested pursuant to this Section
2.2 and the BPGIC Securities as to which registration has been requested pursuant to the applicable written contractual piggy-back
registration rights under the BPGIC Registration Rights Agreement, Pro Rata among the holders thereof based on the number of securities
requested by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares;
and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii) and
(iii), the Ordinary Shares or other equity securities for the account of other Persons that the Company is obligated to register
pursuant to separate written contractual arrangements with such Persons that can be sold without exceeding the Maximum Number
of Shares.

 

In
the event that Company securities that are convertible into Ordinary Shares are included in the offering, the calculations under
this Section 2.2.2 shall include such Company securities on an as-converted to Ordinary Share basis. Notwithstanding anything
to the contrary above, to the extent that the registration of an Investor’s Registrable Securities would prevent the Company
or the demanding shareholders from effecting such registration and offering, such Investor shall not be permitted to exercise
Piggy Back Registration rights with respect to such registration and offering. Notwithstanding anything to the contrary herein,
in the event that an offering pursuant to a Piggy-Back Registration is not underwritten, but the Company’s board of directors
reasonably determines in good faith that the dollar amount or number of Registrable Securities which the Investors desire to sell,
taken together with all other Ordinary Shares or other securities which the Company desires to sell and the Ordinary Shares or
other securities, if any, as to which registration by the Company has been requested pursuant to written contractual piggy-back
registration rights held by other security holders of the Company who desire to sell, exceeds the Maximum Number of Shares, then
the number of securities include in such registration shall be reduced in the same priority as underwritten offerings under this
Section 2.2.2.

 

2.2.3 Withdrawal.
Any Investor holding Registrable Securities may elect to withdraw such Investor’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by Persons making
a demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness
of such Registration Statement without any liability to the applicable Investor, subject to the next sentence and the provisions
of Section 4. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred in connection with such Piggy-Back
Registration as provided in Section 3.3 (subject to the limitations set forth therein) by Investors holding Registrable Securities
that requested to have their Registrable Securities included in such Piggy-Back Registration.

 

2.2.4 Unlimited
Piggy-Back Registration Rights.  For purposes of clarity, any registration effected pursuant to Section 2.2 hereof
shall not be counted as a registration pursuant to a Demand Registration effected under Section 2.1 hereof. 

 

    8

     

    

 

2.3 Short
Form Registrations. After the Closing Date, subject to Section 2.4, Investors holding Registrable Securities may at any time
and from time to time, request in writing that the Company register the resale of any or all of such Registrable Securities on
Form S-3 or F-3 or any similar short-form registration which may be available at such time (“Short Form Registration”);
provided, however, that the Company shall not be obligated to effect such request through an underwritten offering. Upon receipt
of such written request, the Company will promptly give written notice of the proposed registration to all other Investors holding
Registrable Securities, and, as soon as practicable thereafter, effect the registration of all or such portion of such Investors’
Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities, if any,
of any other Investors joining in such request as are specified in a written request given within fifteen (15) days after receipt
of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration
pursuant to this Section 2.3: (i) if Short Form Registration is not available to the Company for such offering; or (ii) if Investors
holding Registrable Securities, together with the holders of any other securities of the Company entitled to inclusion in such
registration, propose to sell Registrable Securities and such other securities (if any) at any aggregate price to the public of
less than $2,000,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected
pursuant to Section 2.1.

 

2.4
Restriction of Offerings. Notwithstanding anything to the contrary contained in this Agreement (except as set forth in
clause (ii) of the first sentence of Section 2.1.1 with respect to Initial Shares that are subject to the Founder Share Escrow
Agreement, but not the Initial Shareholder Escrow Agreement), the Company shall not be obligated to effect, or to take any action
to effect, any registration (including any Demand Registration or Piggy-Back Registration) pursuant to this Section 2 with respect
to any Registrable Securities that are escrow shares while they are held in the escrow accounts in accordance with the Founder
Share Escrow Agreement Amendment or the Initial Shareholder Escrow Agreement and not yet distributed to the Investors.

  

3. REGISTRATION
PROCEDURES.

 

3.1 Filings;
Information. Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section
2, the Company shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance with
the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1 Filing
Registration Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of a request
for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any form for
which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for
the sale of all Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof,
and shall use its reasonable efforts to cause such Registration Statement to become effective and use its reasonable efforts to
keep it effective for the period required by Section 3.1.3; provided, however, that the Company shall have the right to defer
any Demand Registration for up to thirty (30) days, and any Piggy-Back Registration for such period as may be applicable to deferment
of any demand registration to which such Piggy-Back Registration relates, in each case if the Company shall furnish to Investors
requesting to include their Registrable Securities in such registration a certificate signed by the Chairman, Chief Executive
Officer or Chief Financial Officer of the Company stating that, in the good faith judgment of the Board of Directors of the Company,
it would be materially detrimental to the Company and its shareholders for such Registration Statement to be effected at such
time or the filing would require premature disclosure of material information which is not in the interests of the Company to
disclose at such time; provided further, however, that the Company shall not have the right to exercise the right set forth in
the immediately preceding proviso more than twice in any 365-day period in respect of a Demand Registration hereunder.

 

3.1.2 Copies.
The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without
charge to Investors holding Registrable Securities included in such registration, and such Investors’ 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 Investors holding Registrable Securities included
in such registration or legal counsel for any such Investors may request in order to facilitate the disposition of the Registrable
Securities owned by such Investors.

 

    9

     

    

 

3.1.3 Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments,
and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities
and other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s) of
distribution set forth in such Registration Statement or such securities have been withdrawn or until such time as the Registrable
Securities cease to be Registrable Securities as defined by this Agreement.

 

3.1.4 Notification.
After the filing of a Registration Statement, the Company shall promptly, and in no event more than five (5) Business Days after
such filing, notify Investors holding Registrable Securities included in such Registration Statement of such filing, and shall
further notify such Investors promptly and confirm such advice in writing in all events within five (5) Business Days after the
occurrence of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment
to such Registration Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order
(and the Company shall take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv)
any request by the Commission for any amendment or supplement to such Registration Statement or any prospectus relating thereto
or for additional information or of the occurrence of an event requiring the preparation of a supplement or amendment to such
prospectus so that, as thereafter delivered to the purchasers of the securities covered by such Registration Statement, such prospectus
will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading, and promptly make available to Investors holding Registrable Securities included
in such Registration Statement any such supplement or amendment; except that before filing with the Commission a Registration
Statement or prospectus or any amendment or supplement thereto, including documents incorporated by reference, the Company shall
furnish to Investors holding Registrable Securities included in such Registration Statement and to the legal counsel for any such
Investors, copies of all such documents proposed to be filed sufficiently in advance of filing to provide such Investors and legal
counsel with a reasonable opportunity to review such documents and comment thereon; provided that such Investors and their legal
counsel must provide any comments promptly (and in any event within five (5) Business Days) after receipt of such documents. Notwithstanding
the aforementioned, the Company shall be able to file a Registration Statement or prospectus or amendment or supplement thereto,
including documents incorporated by reference; provided, however, where such Investors holding a majority-in-interest of the Registrable
Securities included in such Registration Statement or their legal counsel shall object in good faith, the Company must first,
in good faith, reasonably consult with such Investors and their legal counsel prior to any such filing, to address any concerns;
and provided further that any resultant failure to file shall not be a breach of the Company’s obligations under this Agreement.

 

3.1.5 State
Securities Laws Compliance. The Company shall use its 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 Investors holding Registrable Securities included in such Registration Statement (in light of their intended plan of
distribution) may reasonably request 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 Investors
holding 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 but for this paragraph or take any action which it would be subject to general
service of process or to taxation in any such jurisdiction where it is not then otherwise subject.

 

3.1.6 Agreements
for Disposition. Only to the extent required by the underwriting agreement or similar agreements, the Company shall enter
into reasonable customary agreements (including, if applicable, an underwriting agreement in customary form) and take such other
actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities. The representations,
warranties and covenants of the Company in any underwriting agreement which are made to or for the benefit of any Underwriters,
to the extent applicable, shall also be made to and for the benefit of the Investors holding Registrable Securities included in
such Registration Statement. No Investor holding Registrable Securities included in such Registration Statement shall be required
to make any representations or warranties in the underwriting agreement except, if applicable, with respect to such Investor’s
organization, good standing, authority, title to Registrable Securities, lack of conflict of such sale with such Investor’s
material agreements and organizational documents, and with respect to written information relating to such Investor that such
Investor has furnished in writing expressly for inclusion in such Registration Statement.

 

    10

     

    

 

3.1.7 Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer
of the Company and all other officers and members of the management of the Company shall reasonably cooperate in any offering
of Registrable Securities hereunder, which cooperation shall include the preparation of the Registration Statement with respect
to such offering and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys,
accountants and potential investors.

 

3.1.8 Records.
The Company shall make available for inspection by Investors holding Registrable Securities included in such Registration Statement,
any Underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other
professional retained by any Investor holding Registrable Securities included in such Registration Statement or any Underwriter,
all financial and other records, pertinent corporate documents and properties of the Company, as shall be reasonably necessary
to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees
to supply all information reasonably requested by any of them in connection with such Registration Statement, provided that the
Company may require execution of a reasonable confidentiality agreement prior to sharing any such information.

 

3.1.9 Opinions
and Comfort Letters. The Company shall request its counsel and accountants to provide customary legal opinions and customary
comfort letters, to the extent so reasonably required by any underwriting agreement.

 

3.1.10 Earnings
Statement. The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and
make available to its shareholders if reasonably required, as soon as reasonably practicable, an earnings statement covering a
period of twelve (12) months, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and
Rule 158 thereunder.

 

3.1.11 Listing.
The Company shall use its reasonable best efforts to cause all Registrable Securities that are Ordinary Shares (or convertible
into Ordinary Shares) included in any registration to be listed on such exchanges or otherwise designated for trading in the same
manner as similar securities issued by the Company are then listed or designated (for the avoidance of doubt, Registrable Securities
that are convertible into Ordinary Shares will only be required to be listed if such convertible securities themselves are then
listed) or, if no such similar securities are then listed or designated, in a manner satisfactory to Investors holding a majority-in-interest
of the Registrable Securities included in such registration.

 

3.1.12 Road
Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $10,000,000,
the Company shall use its 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 any underwritten offering.

  

3.2 Obligation
to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 3.1.4(iv), or, in the case of a resale registration on a Short Form Registration pursuant to Section 2.3 hereof, upon
any suspension by the Company, pursuant to a written insider trading compliance program adopted by the Company’s Board of
Directors, of the ability of all “insiders” covered by such program to transact in the Company’s securities
because of the existence of material non-public information, each Investor holding Registrable Securities included in any registration
shall immediately discontinue disposition of such Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until such Investor receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or
the restriction on the ability of “insiders” to transact in the Company’s securities is removed, as applicable,
and, if so directed by the Company, each such Investor will deliver to the Company all copies, other than permanent file copies
then in such Investor’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt
of such notice.

 

    11

     

    

 

3.3 Registration
Expenses. Subject to Section 4, the Company shall bear all reasonable costs and expenses incurred in connection with any Demand
Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on a Short Form
Registration effected pursuant to Section 2.3, and all reasonable expenses incurred in performing or complying with its other
obligations under this Agreement, whether or not the Registration Statement becomes effective, including: (i) all registration
and filing fees; (ii) fees and expenses of compliance with securities or “blue sky” laws (including fees and disbursements
of counsel in connection with blue sky qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Company’s
internal expenses (including all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in connection
with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory Authority fees;
(vii) fees and disbursements of counsel for the Company and fees and expenses for independent certified public accountants retained
by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters requested pursuant
to Section 3.1.9); (viii) the reasonable fees and expenses of any special experts retained by the Company in connection with such
registration; and (ix) the reasonable fees and expenses (up to a maximum of $15,000 in the aggregate in connection with such Registration)
of one legal counsel selected by Investors holding a majority-in-interest of the Registrable Securities included in such Registration
for such legal counsel’s review, comment and finalization of the proposed Registration Statement and other relevant documents.
The Company shall have no obligation to pay any underwriting discounts or selling commissions attributable to the Registrable
Securities being sold by the holders thereof, which underwriting discounts or selling commissions shall be borne by such holders.
Additionally, in an underwritten offering, all selling security holders and the Company shall bear the expenses of the Underwriter
pro rata in proportion to the respective amount of securities each is selling in such offering.

 

3.4 Information.
Investors holding Registrable Securities included in any Registration Statement shall provide such information as may reasonably
be requested by the Company, or the managing Underwriter, if any, in connection with the preparation of such Registration Statement,
including amendments and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities
Act pursuant to Section 2 and in connection with the obligation to comply with federal and applicable state securities laws. Investors
selling Registrable Securities in any offering must provide all questionnaires, powers of attorney, custody agreements, stock
powers, and other documentation reasonably requested by the Company or the managing Underwriter.

 

3.5
Limitations on Registration Rights. Notwithstanding anything herein to the contrary, (i) an Investor holding Representative
Securities may not exercise its rights under Sections 2.1 and 2.2 hereunder after five (5) and seven (7) years after the effective
date of the Registration Statement relating to the IPO, respectively, and (ii) Investors holding Representative Securities may
not exercise their rights under Section 2.1 with respect to Representative Securities more than one time.

 

4. INDEMNIFICATION
AND CONTRIBUTION.

 

4.1 Indemnification
by the Company. Subject to Section 4.5 and the provisions of this Section 4.1 below, the Company agrees to indemnify and hold
harmless each Investor, and each Investor’s officers, employees, affiliates, directors, partners, members, attorneys and
agents, and each Person, if any, who controls an Investor (within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act) (each, an “Investor Indemnified Party”), from and against any expenses, losses,
judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon any untrue statement of a material
fact contained in any Registration Statement under which the sale of such Registrable Securities was registered under the Securities
Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement, or any amendment
or supplement to such Registration Statement, or arising out of or based upon any omission to state a material fact required to
be stated therein or necessary to make the statements therein not misleading, or any violation by the Company of the Securities
Act or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of
the Company in connection with any such registration; (provided, however, that the indemnity agreement contained in this Section
4.1 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is effected
without the consent of the Company, such consent not to be unreasonably withheld, delayed or conditioned); and the Company shall
promptly reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred by such Investor Indemnified
Party in connection with investigating and defending any such expense, loss, judgment, claim, damage, liability or action; provided,
however, that the Company will not be liable in any such case, to the extent that any such expense, loss, claim, damage or liability
arises out of or is based upon any untrue statement or omission made in such Registration Statement, preliminary prospectus, final
prospectus, or summary prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished
to the Company, in writing, by such Investor Indemnified Party expressly for use therein. The Company also shall indemnify any
Underwriter of the Registrable Securities, their officers, affiliates, directors, partners, members and agents and each Person
who controls such Underwriter on substantially the same basis as that of the indemnification provided above in this Section 4.1.

 

    12

     

    

 

4.2 Indemnification
by Investors Holding Registrable Securities. Subject to Section 4.5 and the provisions of this Section 4.2 below, each Investor
selling Registrable Securities will, in the event that any registration is being effected under the Securities Act pursuant to
this Agreement of any Registrable Securities held by such selling Investor, indemnify and hold harmless the Company, each of its
directors and officers and each Underwriter (if any), and each other selling holder and each other Person, if any, who controls
another selling holder or such Underwriter within the meaning of the Securities Act, against any losses, claims, judgments, damages
or liabilities, whether joint or several, insofar as such losses, claims, judgments, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement of a material fact contained in any Registration Statement under
which the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus
or summary prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or
arise out of or are based upon any omission to state a material fact required to be stated therein or necessary to make the statement
therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in
writing to the Company by such selling Investor expressly for use therein (provided, however, that the indemnity agreement contained
in this Section 4.2 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such
settlement is effected without the consent of the indemnifying Investor, such consent not to be unreasonably withheld, delayed
or conditioned),, and shall reimburse the Company, its directors and officers, and each other selling holder or controlling Person
for any legal or other expenses reasonably incurred by any of them in connection with investigation or defending any such loss,
claim, damage, liability or action. Each selling Investor’s indemnification obligations hereunder shall be several and not
joint and shall be limited to the amount of any net proceeds actually received by such selling Investor.

 

4.3 Conduct
of Indemnification Proceedings. Promptly after receipt by any Person of any notice of any loss, claim, damage or liability
or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such Person (the “Indemnified
Party”) shall, if a claim in respect thereof is to be made against any other Person for indemnification hereunder,
notify such other Person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage,
liability or action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve
the Indemnifying Party from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and
solely to the extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification
with respect to any claim or action brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate
in such claim or action, and, to the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of
the defense thereof with counsel satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified
Party of its election to assume control of the defense of such claim or action, the Indemnifying Party shall not be liable to
the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation; provided, however, that in any action in which both the Indemnified Party
and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate counsel (but
no more than one such separate counsel) to represent the Indemnified Party and its controlling Persons who may be subject to liability
arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party,
with the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel
of such Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party (acting
reasonably), consent to entry of judgment or effect any settlement of any claim or pending or threatened proceeding in respect
of which the Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified
Party, unless such judgment or settlement includes an unconditional release of such Indemnified Party from all liability arising
out of such claim or proceeding.

 

    13

     

    

 

4.4 Contribution.

 

 4.4.1 Subject
to Section 4.5, if the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified
Party in respect of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu
of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of
such loss, claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified
Parties and the Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability
or action, as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying
Party shall be determined by reference to, among other things, whether the untrue statement of a material fact or the omission
to state a material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

4.4.2 Subject
to Section 4.5, the parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4
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 the immediately preceding Section 4.4.1.

 

4.4.3 Subject
to Section 4.5, the amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action
referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any
legal or other expenses incurred by such Indemnified Party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 4.4, no Investor holding Registrable Securities shall be required to contribute
any amount in excess of the dollar amount of the net proceeds (after payment of any underwriting fees, discounts, commissions
or taxes) actually received by such Investor from the sale of Registrable Securities which gave rise to such contribution obligation.
No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 

4.5 Limitation
of Liability. Notwithstanding anything under the terms of this Agreement, including this Section 4, any liability an Investor
or the Company may have for any expenses, losses, judgments, claims, damages, liabilities, actions pursuant to the terms of this
Agreement shall be against the Investor itself or the Company, as an entity only, respectively, and the following Persons shall
have no liability whatsoever, and be subject to no Actions, to the maximum extent allowable under applicable Law: (a) officers,
directors, managers, employees, representatives, or contractors of the Investor or the Company; (b) officers, directors, managers,
employees, representatives or contractors of any Affiliate or related party of the Investor or the Company, including any of their
respective direct or indirect investors; and (c) any Affiliate or related party of the Investor or the Company, including any
direct or indirect investors (but for the avoidance of any doubt, in each case of clauses (a) through (c), excluding the relevant
Investor or the Company, respectively).

 

5. RULE
144.

 

5.1 Rule
144. The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange
Act and shall take such further action as Investors holding Registrable Securities may reasonably request, all to the extent required
from time to time to enable such Investors to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rule 144 may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission.

 

6. MISCELLANEOUS.

 

6.1 Other
Registration Rights. The Company represents and warrants that as of the date of this Agreement, no Person, other than the
holders of (i) the Registrable Securities and (ii) BPGIC Securities, has any right to require the Company to register any of the
Company’s share capital for sale or to include the Company’s share capital in any registration filed by the Company
for the sale of share capital for its own account or for the account of any other Person.

 

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6.2 Assignment;
No Third Party Beneficiaries. 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, unless the Company first provides Investors holding Registrable Securities at
least ten (10) Business Days prior written notice; provided that no assignment or delegation by the Company will relieve the Company
of its obligations under this Agreement unless Investors holding a majority-in-interest of the Registrable Securities provide
their prior written consent, which consent must not be unreasonably withheld, delayed or conditioned. This Agreement and the rights,
duties and obligations of Investors holding Registrable Securities hereunder may be freely assigned or delegated by such Investor
in conjunction with and to the extent of any transfer of Registrable Securities by such Investor which is permitted by the Founder
Share Escrow Agreement or the Initial Shareholder Escrow Agreement. This Agreement and the provisions hereof shall be binding
upon and shall inure to the benefit of each of the parties, to the permitted assigns of the Investors or of any assignee of the
Investors. This Agreement is not intended to confer any rights or benefits on any Persons that are not party hereto other than
as expressly set forth in Section 4 and this Section 6.2. 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 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).

 

6.3 Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If
        to the Company, to:

                                                                                                                                                                          

        c/o
        Brooge Petroleum And Gas Investment Company FZE

        P.O. Box 50170

        Fujairah, United Arab Emirates

        Attn: Nicolaas Paardenkooper

        Telephone No.: +971-56-284-2828

        Email: nico.paardenkooper@bpgic.com
	with
        a copy (which shall not constitute notice) to:

                                                                                                                                                                          

        K&L
        Gates LLP

        599 Lexington Avenue

        New
        York, NY 10022

        Attn: Robert S. Matlin, Esq.

        Facsimile No.: (212) 536-3901

        Telephone No.: (212) 536-3900

        Email: Robert.Matlin@klgates.com

	If
    to an Investor, to:  the address set forth below such Investor’s name on Exhibit A hereto.

 

6.4 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable.

   

6.5 Entire
Agreement. This Agreement (together with the Business Combination Agreement, the Founder Share Escrow Agreement and the Initial
Shareholder Escrow Agreement to the extent incorporated herein, and including all agreements entered into pursuant hereto or thereto
or referenced herein or therein and all certificates and instruments delivered pursuant hereto or thereto) constitutes the entire
agreement of the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations,
understandings, negotiations and discussions between the parties, whether oral or written, relating to the subject matter hereof,
including the Original Agreement; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights
and obligations of the parties under the Business Combination Agreement or any other Ancillary Document or the rights or obligations
of the parties under the BPGIC Registration Rights Agreement. This Agreement supersedes the Original Agreement in its entirety,
and upon the effectiveness of this Agreement, the Original Agreement shall no longer have any force or effect.

 

    15

     

    

 

6.6 Interpretation.
Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of any provision
of this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

6.7
Amendments; Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written agreement
or consent of the Company and Investors holding a majority-in-interest of the Registrable Securities; provided, that any amendment
or waiver of this Agreement which affects an Investor in a manner materially and adversely disproportionate to other Investors
will also require the consent of such Investor. No failure or delay by a party in exercising any right hereunder shall operate
as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances,
shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

6.8
Remedies Cumulative. In the event a party fails to observe or perform any covenant or agreement to be observed or performed
under this Agreement, the other parties may proceed to protect and enforce its rights by suit in equity or action at law, whether
for specific performance of any term contained in this Agreement or for an injunction against the breach of any such term or in
aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or to take any one
or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement
shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power
or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.9  Arbitration.
Any and all disputes, controversies and claims (other than applications for a temporary restraining order, preliminary injunction,
permanent injunction or other equitable relief or application for enforcement of a resolution under this Section 6.9) arising
out of, related to, or in connection with this Agreement or the transactions contemplated hereby (a “Dispute”)
shall be governed by this this Section 6.9. A party must, in the first instance, provide written notice of any Disputes to the
other parties subject to such Dispute, which notice must provide a reasonably detailed description of the matters subject to the
Dispute. The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within ten (10) Business
Days of the notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution Period”);
provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided within sixty
(60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any Dispute
that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant
to the then-existing rules and procedures (including any expedited procedures) of the ICC (the “ICC Procedures”).
Any party involved in such Dispute may submit the Dispute to the ICC to commence the proceedings after the Resolution Period.
To the extent that the ICC Procedures and this Agreement are in conflict, the terms of this Agreement shall control. The arbitration
shall be conducted by one arbitrator nominated by the ICC promptly (but in any event within five (5) Business Days) after the
submission of the Dispute to the ICC and reasonably acceptable to each party subject to the Dispute, which arbitrator shall be
a commercial lawyer with substantial experience arbitrating disputes under acquisition agreements. The arbitrator shall accept
his or her appointment and begin the arbitration process promptly (but in any event within five (5) Business Days) after his or
her nomination and acceptance by the parties subject to the Dispute. The proceedings shall be streamlined and efficient. The arbitrator
shall decide the Dispute in accordance with the substantive law of the state of New York. Time is of the essence. Each party subject
to the Dispute shall submit a proposal for resolution of the Dispute to the arbitrator within twenty (20) days after confirmation
of the appointment of the arbitrator. The arbitrator shall have the power to order any party subject to the Dispute to do, or
to refrain from doing, anything consistent with this Agreement, the Ancillary Documents and applicable Law, including to perform
its contractual obligation(s) and providing injunctive and other equitable relief; provided, that the arbitrator shall be limited
to ordering pursuant to the foregoing power (and, for the avoidance of doubt, shall order) the relevant party (or parties, as
applicable) to comply with only one or the other of the proposals. The arbitrator’s award shall be in writing and shall
include a reasonable explanation of the arbitrator’s reason(s) for selecting one or the other proposal. The seat of arbitration
shall be in London, United Kingdom. The language of the arbitration shall be English.

 

    16

     

    

 

6.10  Governing
Law. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of New York without
regard to the conflict of laws principles thereof.

  

6.11  WAIVER
OF TRIAL BY JURY. WITHOUT DEROGATING FROM THE AGREEMENT TO ARBITRATE IN SECTION 6.9, EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS
OF THE INVESTORS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

6.12
Termination of Business Combination Agreement. This Agreement shall be binding upon each party upon such party’s
execution and delivery of this Agreement, but this Agreement shall only become effective upon the Closing. In the event that the
Business Combination Agreement is validly terminated in accordance with its terms prior to the Closing, this Agreement shall automatically
terminate and become null and void and be of no further force or effect, and the parties shall have no obligations hereunder,
and the Original Agreement shall automatically be reinstated and become in full force and effect in accordance with its terms
as in effect prior to the execution and delivery of this Agreement by the parties hereto without any further action of the parties
hereunder.

 

6.13 Counterparts.
This Agreement may be executed in multiple counterparts (including by facsimile or pdf or other electronic document transmission),
each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW]

 

    17

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Amended and Restated Registration Rights Agreement to be executed and delivered
by their duly authorized representatives as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	BROOGE
    HOLDINGS LIMITED
	 	 	 
	 	By:	/s/
    Meclomen Maramot
	 	Name: 	Meclomen
    Maramot
	 	Title:	Director
	 	 	 
	 	INVESTORS:
	 	 
	 	TWELVE
    SEAS SPONSORS I LLC
	 	 	 
	 	By:	/s/
    Bryant Edwards
	 	Name:	Bryant
    Edwards
	 	Title:	Chief
    Operating Officer

 

	 	/s/
    Gregory Stoupnitzky
	 	Gregory
    Stoupnitzky
	 	 
	 	/s/
    Suneel G. Kaji
	 	Suneel
    G. Kaji

 

	 	EARLYBIRDCAPITAL,
    INC.
	 	 	 
	 	By:	/s/
    Michael Powell
	 	Name:	Michael
    Powell
	 	Title:	Managing
    Director

   

The
undersigned hereby consents to the amendment and restatement of the Original Agreement set forth herein, effective as of the date
first set forth above:

 

TWELVE
SEAS INVESTMENT COMPANY

	 	 
	By:	/s/
    Bryant Edwards	 
	Name: 
    	Bryant
    Edwards	 
	Title:
    	Chief
    Operating OfficerExhibit 4.75

 

Execution Copy

 

AMENDMENT TO SHARE ESCROW AGREEMENT

 

THIS AMENDMENT TO SHARE
ESCROW AGREEMENT (this “Amendment”) is made and entered into as of December 20, 2019, by and among (i)
Twelve Seas Investment Company, a Cayman Island exempted company (the “Company”), (ii) Brooge
Holdings Limited, a Cayman Islands exempted company (“Pubco”), (iii) the individuals and entities
listed under Initial Shareholders on the signature page hereto (each an “Initial Shareholder” and, collectively,
the “Initial Shareholders”) and (iv) Continental Stock Transfer & Trust Company, a New York
corporation, as escrow agent (the “Escrow Agent”). Capitalized terms used but not otherwise defined herein
shall have the respective meanings assigned to such terms in the Share Escrow Agreement (as defined below) (and if such term is
not defined in the Share Escrow Agreement, then the Business Combination Agreement (as defined below)).

 

RECITALS

 

WHEREAS, the
Company, the Initial Shareholders and Escrow Agent are parties to that certain Share Escrow Agreement, dated as of June 19, 2018
(as amended, including by this Amendment, the “Share Escrow Agreement”), pursuant to which the Initial
Shareholders, as a condition to the Company’s underwriting agreement with Early Bird Capital, Inc., agreed to deposit 5,175,000
ordinary shares of the Company, par value $0.0001 per share (“Insider Shares”), into escrow with the
Escrow Agent;

 

WHEREAS, on
April 15, 2019 (i) Pubco, (ii) the Company, (iii) Brooge Merger Sub Limited, a Cayman Islands exempted company and a wholly-owned
subsidiary of Pubco (“Merger Sub”), and (iv) Brooge Petroleum And Gas Investment Company FZE, a company
formed under the laws of the Fujairah Free Zone, UAE (“BPGIC”), entered into that certain Business Combination
Agreement, pursuant to which BPGIC Holdings Limited, a Cayman Islands exempted company, also become a party thereafter pursuant
to the Assignment and Joinder to Business Combination Agreement dated as of November 19, 2019 (as assignee of Brooge Petroleum
and Gas Investment Company (BPGIC) PLC, a company formed under the laws of England and Wales, which became a party to the Business
Combination Agreement pursuant to a Joinder to Business Combination Agreement dated as of May 10, 2019) (together with its permitted
assigns, and successors, the “Seller”) (as amended prior to the date hereof, including by the foregoing
joinders, and as it may be amended after the date hereof, the “Business Combination Agreement”);

 

WHEREAS, pursuant
to the Business Combination Agreement, subject to the terms and conditions thereof, among other matters, upon the consummation
of the transactions contemplated by the Business Combination Agreement (the “Closing”), (a) the Company
will merge with and into Merger Sub, with the Company continuing as the surviving entity and a wholly-owned subsidiary of Pubco
(the “Merger”), and with holders of the Company’s securities receiving substantially equivalent
securities of Pubco, and (b) Pubco will (the “Securities Exchange” and together with the Merger and the
other transactions contemplated by the Business Combination Agreement, the “Transactions”) acquire all
of the issued and outstanding capital shares of BPGIC from the Seller in exchange for ordinary shares of Pubco, with BPGIC becoming
a wholly-owned subsidiary of Pubco;

 

     

     

    

 

WHEREAS, in
connection with the Business Combination Agreement, on April 15, 2019, the Initial Shareholders entered into that certain letter
agreement (as it may be amended from time to time in accordance with the terms thereof, the “Founder Share Letter”)
with the Company and BPGIC, pursuant to which the Initial Shareholders agreed effective upon the Closing, on a pro rata basis amongst
the Initial Shareholders based on the number of Insider Shares owned by each of them, to (i) forfeit twenty percent (20%) of the
Insider Shares owned by the Initial Shareholders and (ii) subject thirty percent (30%) of the Insider Shares owned by the Initial
Shareholders as of the Closing (including any Pubco Ordinary Shares issued in exchange therefor in the Merger) to potential vesting
and forfeiture obligations, and to deposit such shares (together with any equity securities paid as dividends or distributions
with respect to such shares or into which such shares are exchanged or converted, the “Insider Escrow Shares”)
into escrow with the Escrow Agent pursuant to a separate escrow agreement, dated as of December 20, 2019 (as it may be amended
from time to time, the “Initial Shareholder Escrow Agreement”) by and among Pubco, the Initial Shareholders
and the Escrow Agent as escrow agent thereunder (in such capacity, the “Founder Escrow Agent”), with
each Initial Shareholder depositing its pro rata share of such Insider Escrow Shares, to be held, along with any other dividends,
distributions or other income on the Insider Escrow Shares, in a segregated escrow account with the Founder Escrow Agent, where
such escrow property shall be subject to potential forfeiture, and

 

WHEREAS, the
parties hereto desire to amend the Share Escrow Agreement to add Pubco as a party to the Share Escrow Agreement and to revise the
terms thereof in order to reflect the transactions contemplated by the Business Combination Agreement, including the issuance thereunder
of ordinary shares of Pubco in exchange for the Company’s outstanding shares.

 

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

 

1. Addition of Pubco
as a Party to the Share Escrow Agreement. The parties hereby agree to add Pubco as a party to the Share Escrow Agreement. The
parties further agree that, from and after the Closing, (i) all of the rights and obligations of the Company under the Share Escrow
Agreement shall be, and hereby are, assigned and delegated to Pubco as if it were the original “Company” party thereto,
and (ii) all references to the Company under the Share Escrow Agreement relating to periods from and after the Closing shall instead
be a reference to Pubco. By executing this Amendment, Pubco hereby agrees to be bound by and subject to all of the terms and conditions
of the Share Escrow Agreement, as amended by this Amendment, from and after the Closing as if it were the original “Company”
party thereto.

 

2. Amendments to
Share Escrow Agreement. The parties hereto hereby agree to the following amendments to the Share Escrow Agreement:

 

(a) The defined terms
in this Amendment, including in the preamble and recitals hereto, and the definitions incorporated by reference from the Business
Combination Agreement, are hereby added to the Share Escrow Agreement as if they were set forth therein.

 

(b) The parties hereby
agree that the term “Escrow Shares” as used in the Share Escrow Agreement shall include those ordinary
shares of Pubco into which the Insider Shares on deposit with the Escrow Agent automatically convert upon the effectiveness of
the Merger into ordinary shares of Pubco (and any other securities of Pubco or any successor entity issued in consideration of
(including as a stock split, dividend or distribution) or in exchange for any of such securities), which ordinary shares of Pubco
shall continue to be held as Escrow Shares after the Closing in accordance with the terms and conditions of the Share Escrow Agreement,
the Founder Share Letter and as further subject to and adjusted by Section 3 below. The parties further agree that any reference
in the Share Escrow Agreement to Ordinary Shares will instead refer to the ordinary shares of Pubco (and any other securities of
Pubco or any successor entity issued in consideration of (including as a stock split, dividend or distribution) or in exchange
for any of such securities).

 

    2

     

    

 

(c) Section 3.1
of the Share Escrow Agreement is hereby amended by adding the phrase “and subject to Section 3.3,” immediately after
the phrase “Upon completion of the Escrow Period,” at the beginning of the third sentence thereof.

 

(d) Section 3
of the Share Escrow Agreement is hereby amended by adding the following as a new Section 3.3:

 

“3.3 Notwithstanding
Section 3.1, any disbursement of Escrow Shares hereunder will only be made in accordance with (i) joint written instructions executed
by Pubco and the Initial Shareholders, delivered to the Escrow Agent, or (ii) a copy of a final non-appealable judgment or order
from a court of competent jurisdiction (including an order to enforce an arbitral award) establishing the rights of a party in
accordance with this Agreement, the Founder Share Letter and the Business Combination Agreement to such Escrow Shares, together
with written delivery instructions from the applicable payee. Pubco and the Initial Shareholders each agree that they will promptly
and in good faith deliver joint written instructions to the Escrow Agent to disburse any Escrow Shares upon such Escrow Shares
no longer being subject to Section 3.1. The Escrow Agent agrees and understands that any instruction to be delivered by or on behalf
of Pubco pursuant to Section 3 will only be valid where such instruction is provided by at least two authorized signers of Pubco
(acting jointly), unless the Escrow Agent is notified otherwise by Pubco (the names of such authorized signers shall be provided
by Pubco and may be updated from time to time).”

 

(e) Section 4.1 of the
Share Escrow Agreement is hereby amended by replacing the word “shares” with “Escrow Shares” at the end
of the sentence.

 

(f) Section 4.3 of the
Share Escrow Agreement is hereby amended by:

 

(i) deleting
the following phrase at the end of the last sentence of such Section “the respective transferee’s written agreement
to be bound by the terms and conditions of this Agreement and of the Insider Letter (as defined below) signed by the Initial Shareholder
transferring the Escrow Shares” and replacing it with the following: “the respective transferee’s written agreement
(in a form (i.e., form for execution) reasonably acceptable to the Company, such acceptance (and any execution) not to be unreasonably
withheld, delayed or conditioned) to be bound by the terms and conditions of this Agreement, any relevant applicable restrictions
pursuant to the transaction documents with respect to the Company’s Business Combination, and the Insider Letter (as defined
below) signed by the Initial Shareholder transferring the Escrow Shares and such transferee, and upon execution, such form to be
promptly delivered to the Company.”

 

(ii) adding
the following sentence at the end of the Section: “Upon the completion of a permitted transfer in accordance with the requirements
of this Section 4.3, including without limitation the requirements of the preceding sentence, the transferee shall thereafter be
deemed to be an Initial Shareholder under this Agreement with respect to any subsequent permitted transfer of the Escrow Shares.
The Company agrees that upon the disbursement of Escrow Shares in accordance with Sections 3.1 and 3.3, it shall promptly remove
or cause its transfer agent to remove any restrictive legends (but only as they strictly pertain to the restrictions under this
Agreement) on the share certificates for such Escrow Shares.”

 

    3

     

    

 

(g) Section 6.1 of the
Share Escrow Agreement is hereby amended by deleting it in its entirety and replacing it with the following:

 

“6.1 Arbitration.
Any and all disputes, controversies and claims (other than applications for a temporary restraining order, preliminary injunction,
permanent injunction or other equitable relief or application for enforcement of a resolution under this Section 6.1) arising out
of, related to, or in connection with this Agreement or the transactions contemplated hereby (a “Dispute”)
shall be governed by this Section 6.1 A party must, in the first instance, provide written notice of any Disputes to the other
parties subject to such Dispute, which notice must provide a reasonably detailed description of the matters subject to the Dispute.
The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within ten (10) Business Days of the
notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution Period”);
provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided within sixty
(60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any Dispute
that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant to
the then-existing rules and procedures (including any expedited procedures) of the ICC (the “ICC Procedures”).
Any party involved in such Dispute may submit the Dispute to the ICC to commence the proceedings after the Resolution Period. To
the extent that the ICC Procedures and this Agreement are in conflict, the terms of this Agreement shall control. The arbitration
shall be conducted by one arbitrator nominated by the ICC promptly (but in any event within five (5) Business Days) after the submission
of the Dispute to the ICC and reasonably acceptable to each party subject to the Dispute, which arbitrator shall be a commercial
lawyer with substantial experience arbitrating disputes under acquisition agreements. The arbitrator shall accept his or her appointment
and begin the arbitration process promptly (but in any event within five (5) Business Days) after his or her nomination and acceptance
by the parties subject to the Dispute. The proceedings shall be streamlined and efficient. The arbitrator shall decide the Dispute
in accordance with the substantive law of the state of New York. Time is of the essence. Each party subject to the Dispute shall
submit a proposal for resolution of the Dispute to the arbitrator within twenty (20) days after confirmation of the appointment
of the arbitrator. The arbitrator shall have the power to order any party subject to the Dispute to do, or to refrain from doing,
anything consistent with this Agreement and applicable Law, including to perform its contractual obligation(s) and providing injunctive
and other equitable relief; provided, that the arbitrator shall be limited to ordering pursuant to the foregoing power (and, for
the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or the other of the
proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation of the arbitrator’s
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in London, United Kingdom. The language of
the arbitration shall be English.”

 

(h) Section 6.3 of the
Share Escrow Agreement is hereby amended by deleting it in its entirety and replacing it with the following:

 

“6.3 Entire
Agreement; Amendment and Waiver. This Agreement, together with the Insider Letters and the other documents and agreements
referenced herein, contains the entire agreement of the parties hereto with respect to the subject matter hereof. This Agreement
may be amended or modified only by a written instrument duly signed by the parties hereto. Any provision hereof may be waived
only by a written instrument duly signed by the party against whom enforcement of such waiver is sought; provided, for the avoidance
of any doubt, that any amendment, supplement or modification of this Agreement after the Closing does not require the consent
of Twelve Seas Investment Company, a Cayman Islands exempted company.” 

 

    4

     

    

 

(i) Section 6.6 of the
Share Escrow Agreement is hereby amended to delete the address of the Company for notices under the Share Escrow Agreement and
instead add the following address for Pubco as the “Company” party thereunder:

 

	
        If to Pubco to:

        c/o Brooge Petroleum And Gas Investment Company FZE

        P.O. Box 50170

        Fujairah, United Arab Emirates

        Attn: Nicolaas Paardenkooper

        Telephone No.: +971-56-284-2828

        Email: nico.paardenkooper@bpgic.com
	
        with a copy (which will not constitute notice) to:

        K&L Gates LLP

        Level 32, 599 Lexington Avenue

        New York, NY 10022

        Attn: Robert S. Matlin, Esq.

        Facsimile No.: (212) 536-3901

        Telephone No.: (212) 536-3900

        Email: Robert.Matlin@klgates.com

 

(j) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.8 and the current Section 6.8 is renumbered
to be Section 6.9:

 

“6.8 Disputes.
If a controversy arises between the parties hereto as to whether or not or to whom the Escrow Agent shall transfer all or any portion
of any Escrow Shares, or as to any other matter arising out of or relating to this Agreement or any Escrow Shares, the Escrow Agent
shall not be required to determine the same, shall not make any transfer of and shall retain the Escrow Shares in dispute without
liability to anyone until the rights of the parties to the dispute shall have finally been determined in accordance with Section
6.1, mutual written agreement of Pubco and the Initial Shareholders, or by a final non-appealable judgment or order of a court
of competent jurisdiction (including an order to enforce an arbitral award), but the Escrow Agent shall be under no duty whatsoever
to institute or defend any such proceedings. The Escrow Agent shall be entitled to assume that no such controversy has arisen unless
it has received notice of such controversy or conflicting written notices from the parties to this Agreement. Any disputes arising
out of, related to, or in connection with, this Agreement between Pubco and the Initial Shareholders, including a dispute arising
from a party’s failure or refusal to sign a joint written notice hereunder, shall be determined by arbitration conducted
in accordance with the provisions of Section 6.1 of this Agreement (other than applications for a temporary restraining order,
preliminary injunction, permanent injunction or other equitable relief, including specific performance, or application for enforcement
of a resolution pursuant to this Section 6.8 or Section 6.1 of this Agreement).”

 

(k) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.10:

 

“6.10 Severability.
In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction
to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application
of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto.
The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision
that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision.”

 

    5

     

    

 

(l) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.11:

 

“6.11 Interpretation.
The parties acknowledge and agree that: (a) this Agreement is the result of negotiations between the parties and will not be deemed
or construed as having been drafted by any one party, (b) each party and its counsel have reviewed and negotiated the terms and
provisions of this Agreement (including any Exhibits attached hereto) and have contributed to its revision and (c) the rule of
construction to the effect that any ambiguities are resolved against the drafting party will not be employed in the interpretation
of this Agreement. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. In this Agreement, unless the context otherwise requires: (i) words of the masculine,
feminine or neuter gender will include the masculine, neuter or feminine gender, and words in the singular number or in the plural
number will each include, as applicable, the singular number or the plural number; (ii) reference to any Person includes such Person’s
successors and assigns but, if applicable, only if such successors and assigns are permitted by this Agreement, and reference to
a Person in a particular capacity excludes such Person in any other capacity; (iii) reference to any law means such law as amended,
modified codified or reenacted, in whole or in part, and in effect from time to time, including rules and regulations promulgated
thereunder; (iv) any agreement or instrument defined or referred to herein or in any agreement or instrument that is referred to
herein means such agreement or instrument as from time to time amended, modified or supplemented, including by waiver or consent
and references to all attachments thereto and instruments incorporated therein; (v) the words “herein, “hereof”
and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article,
Section or other subdivision; (vi) the words “include,” “includes” and “including” when used
herein shall be deemed in each case to be followed by the words “without limitation”; (vii) any reference herein to
“dollars” or “$” shall mean United States dollars; and (viii) reference to any Section or Exhibit means
such Section hereof or Exhibit hereto.”

 

(m) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.12:

 

“6.12 Successors and Assigns.
This Agreement and the rights and obligations hereunder may not be assigned without the prior written consent of each of the parties
hereto, and any purported assignment without such consent shall be null and void ab initio. This Agreement will be binding upon,
inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.”

 

(n) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.13:

 

“6.13 Governing Law.
This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the State of New
York applicable to agreements made and to be performed within the State of New York, without giving effect to any choice-of-law
provisions thereof that would compel the application of the substantive laws of any other jurisdiction.”

 

(o) Section 6 of the
Share Escrow Agreement is hereby amended by adding the following as a new Section 6.14:

 

“6.14 Waiver
of Jury Trial. WITHOUT DEROGATING FROM THE AGREEMENT TO ARBITRATE IN SECTION 6.1, EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE)
ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE PARTIES
IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.”

 

    6

     

    

 

3. Consent to Founder
Share Letter and Escrow Release. The parties hereby consent to the Founder Share Letter and agree to release from escrow under
the Share Escrow Agreement at the Closing (i) the Forfeited Shares (as defined in the Founder Share Letter), and deliver the Forfeited
Shares to Pubco and the transfer agent, for cancellation, and (ii) the Insider Escrow Shares, and deliver the Insider Escrow Shares
to the Founder Escrow Agent to be held in escrow by the Founder Escrow Agent in accordance with the Initial Shareholder Escrow
Agreement. The parties further acknowledge and agree that, notwithstanding anything to the contrary in the Share Escrow Agreement,
upon the release of the Insider Escrow Shares from escrow under the Share Escrow Agreement at the Closing, the Insider Escrow Shares
will no longer be subject to the terms and conditions of the Share Escrow Agreement and will not be Escrow Shares thereunder (except
to the extent described in the last sentence of this paragraph), but will instead be subject to the terms of the Initial Shareholder
Escrow Agreement. The number of Escrow Shares under Section 3.1 of the Share Escrow Agreement subject to early release thereunder
under clause (i) thereof will be determined solely using 50% of the remaining Escrow Shares still retained in escrow under the
Share Escrow Agreement after giving effect to the transfers required by the Founder Share Letter. The parties further acknowledge
that in accordance with the terms of the Initial Shareholder Escrow Agreement, in the event that any of the Insider Escrow Shares
are released from the escrow under the Initial Shareholder Escrow Agreement prior to the end of the Escrow Period under the Share
Escrow Agreement, to the extent that such Insider Escrow Shares would otherwise have been subject to the requirements of Section
3.1 of the Share Escrow Agreement if they had not been transferred to the Founder Escrow Agent at the Closing, upon such release
they will be delivered to the Escrow Agent as additional Escrow Shares under the Share Escrow Agreement to be held and disbursed
in accordance with the requirements of the Share Escrow Agreement.

 

4. Effectiveness.
Notwithstanding anything to the contrary contained herein, this Amendment shall only become effective upon the Closing. In the
event that the Business Combination Agreement is terminated in accordance with its terms prior to the Closing, this Amendment and
all rights and obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

 

5. Miscellaneous.
Except as expressly provided in this Amendment, all of the terms and provisions in the Share Escrow Agreement are and shall remain
in full force and effect, on the terms and subject to the conditions set forth therein. This Amendment does not constitute, directly
or by implication, an amendment or waiver of any provision of the Share Escrow Agreement, or any other right, remedy, power or
privilege of any party thereto, except as expressly set forth herein. Any reference to the Share Escrow Agreement in the Share
Escrow Agreement or any other agreement, document, instrument or certificate entered into or issued in connection therewith shall
hereinafter mean the Share Escrow Agreement, as amended by this Amendment (or as the Share Escrow Agreement may be further amended
or modified in accordance with the terms thereof). The terms of this Amendment shall be governed by, enforced and construed and
interpreted in a manner consistent with the provisions of the Share Escrow Agreement, including without limitation Section 6.1
thereof.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK; SIGNATURE PAGES FOLLOW]

 

    7

     

    

 

IN WITNESS WHEREOF,
each party hereto has caused this Amendment to Share Escrow Agreement to be signed and delivered by its respective duly authorized
officer as of the date first above written.

 

	 	The Company:
	 	 
	 	TWELVE SEAS INVESTMENT COMPANY
	 	 	 	 
	 	By:	/s/ Bryant Edwards
	 	 	Name: 	Bryant Edwards
	 	 	Title:	Chief Operating Officer
	 	 	 	 
	 	Pubco:
	 	 
	 	BROOGE HOLDINGS LIMITED
	 	 	 	 
	 	By:	/s/ Meclomen Maramot
	 	 	Name:	Meclomen Maramot
	 	 	Title:	Director
	 	 	 	 
	 	Initial Shareholders:
	 	 
	 	TWELVE SEAS SPONSOR I LLC
	 	 	 	 
	 	By:	/s/ Bryant Edwards
	 	 	Name:	Bryant Edwards
	 	 	Title:	Chief Operating Officer
	 	 	 	 
	 	/s/ Gregory Stoupnitzky
	 	Gregory Stoupnitzky
	 	 
	 	/s/ Suneel G. Kaji
	 	Suneel G. Kaji
	 	 	 	 
	 	Escrow Agent:
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 	 
	 	By:	/s/ Isaac J. Kagan
	 	 	Name:	Isaac J. Kagan
	 	 	Title:	Vice President

 

[Signature Page to Amendment to Share
Escrow Agreement]

 

     

     

    

 

The undersigned hereby consents, effective
as of the date first set forth above, to the foregoing amendments and modifications to the Share Escrow Agreement:

 

	EarlyBirdCapital, Inc.	 
	 	 	 	 
	By:	/s/ Michael Powell	 
	 	Name: 	 Michael Powell	 
	 	Title:	 Managing Director	 

 

[Signature Page to Amendment to Share
Escrow Agreement]

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