Document:

EX-10.2

   

   

  

  		
	Anexo “E”
 
CONVENIO DE GARANTIA ABSOLUTA E INCONDICIONAL
 
CONOZCAN TODOS LOS HOMBRES POR ESTA COMPARECENCIA: Que,
Este Convenio de Garantía Absoluta e Incondicional (la “Garantía”), se celebra y se entrega este 24 de Junio de 2022, por y entre FRACCIONADORA RESIDENCIAL HACIENDA AGUA CALIENTE, S. DE R.L. DE C.V. representado en este acto por el Ing. Christian Alejandro Carrillo Fregoso (el “Arrendador”), y VAPOTHERM INC., (de aquí en adelante, en conjunto el “Garante “).
 
D E C L A R A C I O N E S:
 
BAJA FUR, S.A. DE C.V., una empresa organizada y existente bajo las leyes del País de México (“Arrendatario”), y el Arrendador son partes de ese determinado Contrato de Arrendamiento efectivo a partir del 17 de junio de 2022 (el “Contrato”). Para inducir al Arrendador a celebrar el Contrato, el Garante acordó ejecutar y entregar al Arrendador esta Garantía.
 
El Garante reconoce que el Arrendador no hubiere aceptado celebrar el Contrato, sin la celebración y entrega por parte del Garante de esta Garantía.
 
AHORA, POR LO TANTO, en consideración de las promesas y otras consideraciones buenas y valiosas, cuyo recibo y suficiencia son reconocidos por el Garante, el Garante se obliga ante el Arrendador (y los sucesores y cesionarios del Arrendador) conforme a lo siguiente:
 
El Garante garantiza de manera absoluta, incondicional e irrevocable el pago y el cumplimiento pronto y completo, cuando se hubieren causado, ya sea por aceleración o de otro modo, de todas las obligaciones, responsabilidades y convenios, ya sean actuales o posteriores, del Arrendatario al Arrendador, y que surjan de conformidad con el Contrato, incluidos, entre otros, todos los montos adeudados al Arrendador como renta o de cualquier otro tipo, conforme al Contrato (las “Obligaciones”). El Garante acuerda pagar y/o cumplir puntualmente, a solicitud escrita del Arrendador, cada una de las Obligaciones que el Arrendatario no pague o cumpla, como y cuando, deban ser cumplidas y pagadas, de la misma manera que dicho monto se adeuda por el Arrendatario. Para los efectos del presente, las Obligaciones se deberán cumplir y/o pagar, cuando las mismas vayan siendo debidas y deban ser pagadas, conforme a los términos del Contrato, a pesar del 
	Exhibit “E”
 
ABSOLUTE UNCONDITIONAL CORPORATE GUARANTY AGREEMENT
 
KNOW ALL MEN BY THESE PRESENCE:  That,
This Absolute Unconditional Guaranty Agreement (the “Guaranty”) is executed and delivered this 24 day of June, 2022 by and between FRACCIONADORA RESIDENCIAL HACIENDA AGUA CALIENTE, S. DE R.L. DE C.V. represented herein by Ing. Christian Alejandro Carrillo Fregoso (the “Landlord”), and VAPOTHERM INC. (hereinafter collectively referred to as the “Guarantor”).
 
R E C I T A L S:
 
BAJA FUR, S.A. DE C.V., a company organized and existing under the laws of the Country of Mexico (“Tenant”), and Landlord are parties to that certain Lease Contract dated June 17th, 2022 (the “Agreement”). In order to induce Landlord to enter into the Agreement, Guarantor agreed to execute and deliver to Landlord this Guaranty.
 
Guarantor acknowledges that Landlord would not have entered into the Agreement without the execution and delivery by Guarantor of this Guaranty.
 
NOW THEREFORE, in consideration of the promises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Guarantor, Guarantor hereby agrees in favor of Landlord (and Landlord’s successors and assigns) as follows:
 
Guarantor absolutely, unconditionally and irrevocably guarantees the prompt and complete payment and performance when due, whether by acceleration or otherwise, of all obligations, liabilities and covenants, whether now in existence or hereafter arising, of Tenant to Landlord, and arising under the Agreement, including without limitation all amounts due to Landlord as rent or otherwise under the Agreement (the “Obligations”).  Guarantor hereby agrees to pay and/or perform punctually, upon written demand by Landlord, each such Obligation which is not paid or performed as and when due and payable by Tenant, in like manner as such amount is due from Tenant.  For purposes hereof, the Obligations shall be performed and/or due and payable when due and payable under the terms of the Agreement notwithstanding the fact that the collection or enforcement thereof as against Tenant may be stayed or enjoined under Title 11 of the United States Code or similar applicable law in the country of 

   

  

  		
	hecho de que la recaudación o ejecución de la misma en contra del Arrendatario se puede suspender u ordenar según el Título 11 del Código de los Estados Unidos o conforme a la ley similar aplicable en el país de México o Canadá. Esta Garantía es de pago y no de cobro. 
 
Las obligaciones del Garante en virtud de esta Garantía son absolutas e incondicionales y no se verán afectadas por la autenticidad, validez, regularidad o exigibilidad de las Obligaciones o el Contrato, ni por ninguna otra circunstancia relacionada con las Obligaciones o el Contrato que de otro modo podría constituir un acto legal o similar, de liberación o defensa de un garante o aval. El Garante, mediante la presente, renuncia irrevocablemente a todas y cada una de las defensas de caución, las defensas que el Arrendatario pudiera hacer valer (excepto el pago) y todas las demás defensas que de otro modo estarían disponibles para el Garante. Todos los pagos del Garante de conformidad con esta Garantía se realizarán sin compensación. El Arrendador no estará obligado a presentar ningún reclamo relacionado con las Obligaciones en caso de que el Arrendatario quede sujeto a una quiebra, reorganización o procedimiento similar, y el incumplimiento por parte del Arrendador no afectará las Obligaciones del Garante bajo esta Garantía. El Garante renuncia irrevocablemente a cualquier derecho a exigir al Arrendador que busque cualquier otro recurso en poder del Arrendador, ya sea contra el Arrendatario o en contra de cualquier otro obligado principal o secundario, con respecto a las Obligaciones. El Garante renuncia irrevocablemente a cualquier defensa que surja debido a una incapacidad, quiebra, reorganización o procedimiento similar, que involucre al Arrendatario. En el caso de que cualquier pago con respecto a las Obligaciones se rescinda o deba ser devuelto por cualquier motivo, el Garante seguirá siendo responsable bajo esta Garantía con respecto a tales Obligaciones como si dicho pago no se hubiera realizado.
 
El Garante acepta que el Arrendador puede, en cualquier momento, y de vez en cuando, ya sea antes o después del vencimiento del mismo, sin previo aviso o consentimiento adicional del Garante, extender el tiempo de pago o cumplimiento de, o renovar cualquiera de las Obligaciones, y también puede concretar cualquier acuerdo con el Arrendatario o con cualquier otra parte o persona responsable de cualquiera de las obligaciones, o interesado en el mismo, para la extensión, renovación, pago, compromiso, renuncia, exoneración o liberación de la misma, en su totalidad o en parte, o por cualquier enmienda o modificación de los términos del mismo o del Contrato o cualquier otro acuerdo entre el Arrendador y el 
	Mexico or Canada.  This Guaranty is one of payment and not of collection.
 
 
 
Guarantor’s obligations under this Guaranty are absolute and unconditional and shall not be affected by the genuineness, validity, regularity or enforceability of the Obligations or the Agreement, or by any other circumstance relating to the Obligations or the Agreement which might otherwise constitute a legal or equitable discharge of or defense of a guarantor or surety.  Guarantor hereby irrevocably waives any and all suretyship defenses, defenses that could be asserted by Tenant (except payment) and all other defenses that would otherwise be available to Guarantor. All payments by Guarantor pursuant to this Guaranty shall be made without setoff.  Landlord shall not be obligated to file any claim relating to the Obligations in the event that Tenant becomes subject to a bankruptcy, reorganization or similar proceeding, and the failure of Landlord so to file shall not affect Guarantor’s obligations under this Guaranty.  Guarantor irrevocably waives any right to require Landlord to pursue any other remedy in Landlord’s power whatsoever, whether against Tenant or any other obligor principally or secondarily obligated with respect to the Obligations.  Guarantor irrevocably waives any defense arising by reason of any disability, bankruptcy, reorganization or similar proceeding involving Tenant.  In the event that any payment in respect of any Obligations is rescinded or must otherwise be returned for any reason whatsoever, Guarantor shall remain liable under this Guaranty in respect of such Obligations as if such payment had not been made.
 
 
 
Guarantor agrees that Landlord may at any time and from time to time, either before or after the maturity thereof, without notice to or further consent of Guarantor, extend the time of payment of, or performance of, or renew, any of the Obligations, and may also make any agreement with Tenant or with any other party to or person liable on any of the Obligations, or interested therein, for the extension, renewal, payment, compromise, waiver, discharge or release thereof, in whole or in part, or for any amendment or modification of the terms thereof or of the Agreement or any other agreement between Landlord and Tenant or any such other party or person, without in any way impairing, releasing or affecting the liabilities of Guarantor under this Guaranty.
 
 

   

  

  		
	Arrendatario o cualquier otra parte o persona, sin menoscabar, liberar o afectar las responsabilidades del Garante, en virtud de esta Garantía.
 
El Garante no ejercerá ningún derecho que pueda adquirir mediante subrogación hasta que todas las Obligaciones del Arrendador hayan sido pagadas en su totalidad, o ejecutadas en su totalidad. Cualquier monto pagado al Garante en violación de la oración anterior se mantendrá en fideicomiso para el beneficio del Arrendador y se le pagará inmediatamente al Arrendador para que se acredite y se aplique a las Obligaciones, ya sean Vencidas o no. El Garante por la presente subordina todas y cada una de sus responsabilidades y endeudamiento, al pago previo irrevocable en su totalidad de las Obligaciones.
 
Esta Garantía permanecerá en pleno vigor y efecto y será vinculante para el Garante, sus sucesores y cesionarios hasta que se hayan cumplido todas las Obligaciones en su totalidad y el Contrato se haya rescindido o se haya cumplido por completo. Esta Garantía no puede ser modificada, cancelada o terminada oralmente o de ninguna otra manera que no sea mediante un acuerdo por escrito firmado por el Arrendador y el Garante. Esta es una Garantía continúa relacionada con todas las Obligaciones, incluidas las que surjan durante cualquier término remanente o que surjan de transacciones que renueven o extiendan el término del Contrato, cambien los términos de cualquier Obligación o creen Obligaciones nuevas o adicionales después de que las Obligaciones anteriores hayan sido totalmente o parcialmente satisfechas, independientemente de cualquier lapso de tiempo. Si alguna de las Obligaciones presentes o futuras, está garantizada por personas, sociedades, corporaciones u otras entidades, además del Garante, la muerte, liberación o exoneración, total o parcial, o la quiebra, liquidación o disolución de una o más de ellas, no liberará, ni afectará, las responsabilidades del Garante bajo esta Garantía. Las Obligaciones del Garante bajo este instrumento, serán adicionales y no sustituirán a ninguna otra obligación, garantía o responsabilidad, existente en cualquier momento, con respecto a las Obligaciones, responsabilidades y convenios del Arrendatario bajo el Contrato. 
 
Ningún incumplimiento por parte del Arrendador del ejercicio, y ningún retraso en el ejercicio, cualquier derecho, recurso o poder bajo esta Garantía funcionará como una renuncia del mismo, ni ningún ejercicio único o parcial por parte del Arrendador de ningún derecho o recurso bajo esta Garantía excluye cualquier otro ejercicio futuro de cualquier derecho, recurso o poder bajo esta 
	 
 
 
Guarantor will not exercise any rights which it may acquire by way of subrogation until all of the Obligations to Landlord shall have been indefeasibly paid in full, or performed in its entirety.  Any amount paid to Guarantor in violation of the preceding sentence shall be held in trust for the benefit of Landlord and shall forthwith be paid to Landlord to be credited and applied to the Obligations, whether matured or unmatured.  Guarantor hereby subordinates any and all liabilities and indebtedness to Guarantor to the prior indefeasible payment in full of the Obligations.
 
 
This Guaranty shall remain in full force and effect and be binding upon Guarantor, its successors and assigns until all of the Obligations have been satisfied in full and the Agreement shall have been terminated or fully performed.  This Guaranty may not be modified, discharged or terminated orally or in any manner other than by an agreement in writing signed by Landlord and Guarantor.  This is a continuing Guaranty relating to all Obligations, including any arising during any holdover term or arising under transactions renewing or extending the term of the Agreement, changing the terms of any Obligations, or creating new or additional Obligations after prior Obligations have in whole or in part been satisfied, regardless of any lapse of time.  If any of the present or future Obligations are guaranteed by persons, partnerships, corporations or other entities in addition to Guarantor, the death, release or discharge, in whole or in part, or the bankruptcy, liquidation or dissolution of one or more of them shall not discharge or affect the liabilities of Guarantor under this Guaranty.  The obligations of Guarantor hereunder shall be additional to, and not in substitution for, any security or other guarantee or indemnity at any time existing in respect of Tenant’s obligations, liabilities and covenants under the Agreement.
 
 
 
No failure on the part of Landlord to exercise, and no delay in exercising, any right, remedy or power under this Guaranty shall operate as a waiver thereof, nor shall any single or partial exercise by Landlord of any right, remedy or power under this Guaranty preclude any other or future exercise of any right, remedy or power under this Guaranty. Each and every right, remedy and power granted to Landlord under this Guaranty or allowed it by law or by the Agreement or any other agreement shall be cumulative and 

   

  

  		
	Garantía. Todos y cada uno de los derechos, recursos y poderes otorgados al Arrendador en virtud de esta Garantía o permitidos por la ley o por el Contrato o cualquier otro acuerdo, serán acumulativos, y no excluyentes de ningún otro, y el Arrendador podrá ejercerlos de vez en cuando.
 
El Garante por la presente renuncia al aviso de aceptación de esta Garantía y al aviso de cualquier obligación u responsabilidad a la que pueda aplicarse, y renuncia a la presentación, demanda de pago, protesta, aviso de incumplimiento o falta de pago de dicha obligación o responsabilidad, demanda o toma de otra acción del Arrendador en contra de, y todos los demás avisos de cualquier tipo a, el Arrendatario, Garante, u otros.
 
El Arrendador puede, en cualquier momento y de vez en cuando, sin previo aviso o consentimiento del Garante y sin menoscabar o liberar las Obligaciones del Garante en virtud del presente: (a) tomar o no tomar ninguna acción de cualquier tipo con respecto a cualquier garantía por cualquier obligación, pacto o responsabilidad del Arrendatario con el Arrendador, (b) ejercer o abstenerse de ejercer cualquier derecho contra el Arrendatario u otros, (c) comprometer o subordinar cualquier obligación o responsabilidad del Arrendatario al Arrendador, incluida cualquier garantía para ello, (d) consentir la cesión por El Arrendatario de su interés en el Contrato, o (e) consentir cualquier otro asunto o tema relacionado con el Contrato. El Garante acuerda reembolsar al Arrendador el costo y los honorarios razonables de abogados, incurridos por el Arrendador para hacer cumplir esta Garantía.
 
El Garante declara y garantiza al Arrendador que (a) el Contrato ha sido debidamente autorizado, celebrado y entregado por el Arrendatario y es un instrumento legal, válido y vinculante que se puede hacer cumplir contra el Arrendatario de acuerdo con sus términos, y (b) esta Garantía ha sido debidamente autorizada, celebrada y entregada por el Garante, y es un instrumento legal, válido y vinculante que se puede hacer cumplir contra el Garante de acuerdo con sus términos.
 
El Garante no puede ceder sus derechos ni delegar sus obligaciones contenidos dentro de esta Garantía, en su totalidad o en parte, sin el consentimiento previo por escrito del Arrendador, y cualquier asignación o delegación supuesta en ausencia de dicho consentimiento es nula. Esta Garantía permanecerá en pleno vigor y efecto, a pesar de (a) cualquier cesión o transferencia por parte del Arrendatario de su interés en el Contrato (en cuyo caso, esta Garantía se aplicará, desde y después de dicha 
	not exclusive of any other, and may be exercised by Landlord from time to time.
 
 
 
Guarantor hereby waives notice of acceptance of this Guaranty and notice of any obligation or liability to which it may apply, and waives presentment, demand for payment, protest, notice of dishonor or non-payment of any such obligation or liability, suit or the taking of other action by Landlord against, and all other notices whatsoever to, Tenant, Guarantor or others.
 
 
Landlord may at any time and from time to time without notice to or consent of Guarantor and without impairing or releasing the obligations of Guarantor hereunder: (a) take or fail to take any action of any kind in respect of any security for any obligation, covenant or liability of Tenant to Landlord, (b) exercise or refrain from exercising any rights against Tenant or others, (c) compromise or subordinate any obligation or liability of Tenant to Landlord including any security therefor, (d) consent to the assignment by Tenant of its interest in the Agreement, or (e) consent to any other matter or thing under or relating to the Agreement.  Guarantor agrees to reimburse Landlord for the costs and reasonable attorneys’ fees incurred by reason of Landlord having to enforce this Guaranty. 
 
 
 
Guarantor represents and warrants to Landlord that (a) the Agreement has been duly authorized, executed and delivered by Tenant and is a legal, valid and binding instrument enforceable against Tenant in accordance with its terms, and (b) this Guaranty has been duly authorized, executed and delivered by Guarantor and is a legal, valid and binding instrument enforceable against Guarantor in accordance with its terms.
 
Guarantor may not assign its rights nor delegate its obligations under this Guaranty, in whole or in part, without prior written consent of Landlord, and any purported assignment or delegation absent such consent is void. This Guaranty shall remain in full force and effect notwithstanding (a) any assignment or transfer by Tenant of its interest in the Agreement (in which case this Guaranty shall apply, from and after such assignment or transfer, to all of the obligations, liabilities and covenants of the assignee or transferee under the Agreement), or (b) any assignment or transfer by Landlord of its interest in the Agreement (in which case Guarantor's obligations under 

   

  

  		
	cesión o transferencia, a todas las obligaciones, responsabilidades, y convenios del cesionario o cesionario en virtud del contrato), o (b) cualquier cesión o transferencia por parte del Arrendador de su interés en el Contrato (en cuyo caso las obligaciones del Garante en virtud de esta Garantía redundarán en beneficio del cesionario del Arrendador), en cada caso, independientemente de si el Garante tiene notificación o está de acuerdo con dicha cesión o transferencia. Si algún cesionario no es una entidad afiliada o subsidiaria del Arrendatario o Garante, esta Garantía solo cubrirá las obligaciones existentes del Contrato: y no las obligaciones establecidas en las modificaciones realizadas por dicho cesionario.
 
Se entiende que otros acuerdos similares a esta Garantía de Arrendamiento pueden, a la sola opción y discreción del Arrendador, ser ejecutados por otras personas con respecto al Arrendamiento. Esta Garantía de Arrendamiento será acumulativa de dichos acuerdos y las responsabilidades y responsabilidades el suscrito firmante, no se verán afectados, ni disminuidos, en ningún caso por tales otros acuerdos. Además, en caso de que el Arrendador obtenga la firma de más de un garante en esta Garantía de Arrendamiento u obtenga acuerdos de garantía adicionales, o ambos, el suscrito firmante acuerda que el Arrendador, a su exclusivo criterio, puede (i) comprometer o llegar a un acuerdo con uno o más de los garantes, conforme el Arrendador considere conveniente y apropiado, y (ii) liberar a uno o más de los garantes, de sus responsabilidades. El abajo firmante acuerda además que tal acción no menoscabará los derechos del Arrendador de hacer cumplir el Arrendamiento contra cualquier garante o garantes restantes, incluido el suscrito firmante.
 
El Garante, en este acto, renuncia a sus derechos a un juicio con jurado de cualquier reclamo o causa de acción basada en esta Garantía o que surja de ésta, o el objeto de la misma o de la misma. El alcance de esta exención tiene por objeto abarcar todas y cada una de las disputas que se puedan presentar en cualquier tribunal y que se relacionen con el tema del Contrato, incluyendo, entre otras, las reclamaciones contractuales, las demandas por agravios y las demandas por incumplimiento de obligaciones, y todas las demás demandas de derecho consuetudinario y estatutario. Esta sección ha sido completamente discutida y estas disposiciones no estarán sujetas a ninguna excepción. El Garante además garantiza y declara que el Garante ha revisado esta exención con su asesor legal, y que el Garante renuncia consciente y voluntariamente a sus derechos de juicio ante el Jurado luego de consultar con un asesor legal.
	this Guaranty shall inure to the benefit of Landlord's assignee or transferee), in each case irrespective of whether Guarantor has notice of or consents to any such assignment or transfer. If any assignee is not an entity affiliated with, or a subsidiary of Tenant or Guarantor this Guaranty shall only cover the existing obligations of the Agreement, and not the obligations set forth in amendments made by such assignee.
 
 
 
 
It is understood that other agreements similar to this Guaranty of Lease may, at Landlord's sole option and discretion, be executed by other persons with respect to the Lease. This Guaranty of Lease shall be cumulative of any such agreements and the liabilities and obligations of the undersigned hereunder shall in no event be affected or diminished by reason of such other agreements. Moreover, in the event Landlord obtains the signature of more than one guarantor on this Guaranty of Lease or obtains additional guarantee agreements, or both, the undersigned agree that Landlord, in Landlord's sole discretion, may (i) compromise or settle with any one or more of the guarantors for such consideration as Landlord may deem proper, and (ii) release one or more of the guarantors from liability. The undersigned further agree that no such action shall impair the rights of Landlord to enforce the Lease against any remaining guarantor or guarantors, including the undersigned.  
 
 
Guarantor hereby waives its rights to a jury trial of any claim or cause of action based upon or arising out of this guaranty, or the subject matter hereof or thereof. The scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of the agreement, including, without limitation, contract claims, tort claims, breach of duty claims, and all other common law and statutory claims. This section has been fully discussed and these provisions will not be subject to any exceptions. Guarantor further warrants and represents that guarantor has reviewed this waiver with its legal counsel, and that guarantor knowingly and voluntarily waives its jury trial rights following consultation with legal counsel.
 
 
 
 
 
 

   

  

  		
	 
Además, se entiende y acuerda que el Garante renuncia a cualquier derecho a solicitar la suspensión de cualquier acción legal o procedimiento iniciado por el Arrendador contra el Garante de conformidad con esta Garantía Corporativa por cualquier motivo, incluyendo, entre otros, cualquier defensa que dicha acción legal o el procedimiento debe suspenderse porque el Arrendador ha iniciado en cualquier momento una(s) acción(es) legal(es) contra el Arrendatario en México y / o ese Arrendatario ha iniciado en cualquier momento una(s) acción(es) legal(es) contra el Arrendador en México.
 
Esta Garantía se realiza bajo, y se interpretará de acuerdo con las leyes del Estado de Baja California, México, y se regirá por ellas, sin tener en cuenta los principios de conflicto de leyes. El Garante y el Arrendador acuerdan solidariamente someterse a la jurisdicción exclusiva de los tribunales ubicados en el Estado de California, Estados Unidos de América, sobre cualquier disputa que surja o esté relacionada con esta garantía. Además, acuerdan que el único lugar para resolver cualquier disputa que surja de o esté relacionada con esta Garantía será en el Tribunal Superior del Estado de California, ubicado en el Condado de San Diego, California.
 
El Garante tendrá derecho a reparar cualquier incumplimiento por parte del Arrendatario y/o sus cesionarios, respecto del Contrato, dentro de los plazos establecidos conforme al mismo.
 
En caso de incumplimiento, el Arrendador no estará obligado a iniciar ninguna acción contra el Arrendatario o cualquier cesionario respecto del Contrato, como condición para la obligación del Garante de cumplir con las obligaciones del Arrendatario y/o del cesionario en virtud del Contrato. El Garante se compromete a subsanar todos esos eventos de incumplimiento dentro del período de tiempo establecido en el Contrato, o en caso de no estar establecidos, dentro de los 30 (Treinta) días posteriores a la recepción por parte del Garante, de la notificación de dicho incumplimiento dada por el Arrendador, a menos que, sin embargo, El Arrendatario y/o el cesionario, hayan subsanado dicho incumplimiento dentro del período de tiempo establecido en el Contrato, o en caso de no estar establecidos, dentro de los 30 (Treinta) días. El Garante renuncia expresamente a cualquier defensa, derecho o privilegio que pueda corresponderle, para iniciar o agotar cualquier acción contra el Arrendatario y/o cualquier cesionario.
 
	 
Furthermore, it is understood and agreed that Guarantor waives any right to seek a stay of any legal action or proceeding initiated by Landlord against Guarantor pursuant to this Corporate Guaranty for any reason whatsoever, including but not limited to any defense that any such legal action or proceeding should be stayed because Landlord has initiated at any time a legal action(s) or proceeding(s) against the Tenant in Mexico and/or that Tenant has initiated at any time a legal action(s) or proceeding(s) against the Landlord in Mexico.
 
 
This guaranty is made under, shall be construed in accordance with, and be governed by, the laws of the State of Baja California, Mexico without regard of any principles of conflicts of law. Guarantor and Landlord jointly and severally agree to submit to the exclusive jurisdiction of courts located in the State of California, United States of America, over any disputes arising out of or relating to this guaranty. It is further agreed that the sole venue over any disputes arising out of or relating to this guaranty shall be in the Superior Court of the State of California, located in San Diego County, California.
 
 
The Guarantor shall have the right to cure Tenant’s and/or any assignee’s default under the Agreement within the time periods established thereunder.  
 
In the event of default, the Landlord shall not be required to commence any action against the Tenant or any assignee under the Agreement as condition to the obligation of the Guarantor to perform Tenant’s and/or such assignee’s obligations under the Agreement. The Guarantor agrees to cure all such events of default within the period of time established in the Agreement or if there is none within 30 (Thirty) days following the receipt by the Guarantor of notice of such default given by the Landlord, unless, however, Tenant and/or such assignee has cured such default within the period of time established in the Agreement or if there is none within said 30 (Thirty) day period. Guarantor expressly waives any defense, right or privilege that it may correspond to require to start or be exhausted any action against Tenant and/or any assignee.
 
 
 
 
 
 
 

   

  

  		
	Las notificaciones entregadas por el Arrendador al Garante con respecto a esta Garantía, incluida una traducción al inglés, se transmitirán al Garante, por correo certificado o mediante servicios de mensajería internacional, como DHL, UPS o Federal Express, con acuse de recibo, a:
 
VAPOTHERM INC.
Attn: John Landry
Vicepresidente Senior y Director Financiero
 
Dirección: 100 Domain Drive
Exeter, NH 03833
 
Todos los avisos, solicitudes, demandas y otras comunicaciones bajo esta Garantía, se realizarán por escrito. Se considerarán debidamente entregados, tras su depósito en el servicio de mensajería. Cada garante que sea signatario a continuación, es responsable solidario de las obligaciones de esta Garantía.
 
El presente documento puede estar escrito en español e inglés, y en caso de controversia, prevalecerá la versión en inglés. EN TESTIMONIO DE LO CUAL, esta Garantía se ha celebrado y entregado en la fecha y año mencionados.
 
FECHA: 24 de Junio de 2022 
 
GARANTE:
VAPOTHERM INC.
Firma: /s/ John Landry
Por John Landry, su Vicepresidente Senior y Director de Finanzas debidamente autorizado.
 
 
RECONOCIMIENTO NOTARIAL ADJUNTO
 
ESTADO DE NEW HAMPSHIRE
CONDADO DE ROCKINGHAM
 
Este instrumento fue reconocido ante mí en 24 de Junio de 2022 por John Landry como el Vicepresidente Senior y Director de Finanzas debidamente autorizado de Vapotherm, Inc.
 
 
 
___________________________
(Firma Legible de oficial notarial)
 
 
 
 
	Notices given by the Landlord to Guarantor with respect to this Guaranty shall be transmitted by registered mail or using international courier services, such as DHL, UPS, or Federal Express, return receipt requested, including an English translation to Guarantor at:
 
VAPOTHERM INC.
Attn: John Landry
Senior Vice President and Chief Financial Officer
 
Address: 100 Domain Drive
Exeter, NH 03833
 
All notices, requests, demands and other communications under this Guaranty shall be in writing. They shall be deemed to have been duly given upon deposit with the courier service. Each guarantor that is a signatory below is jointly and severally liable for the obligations under this Guaranty.
 
 
The present document may be written in both Spanish and English, and in case of any controversy, the English version will prevail. IN WITNESS WHEREOF, this Guaranty has been executed and delivered as of the date and year first above written.
 
DATED: June 24, 2022
 
GUARANTOR:
VAPOTHERM INC.
Signature: /s/ John Landry
By John Landry, its duly authorized Senior Vice President and Chief Financial Officer
 
 
NOTARIAL ACKNOWLEDMENT ATTACHED
 
STATE OF NEW HAMPSHIRE
COUNTY OF ROCKINGHAM
 
This instrument was acknowledged before me on June 24, 2022 by John Landry as the duly authorized Senior Vice President and Chief Financial Officer of Vapotherm, Inc.
 
 
 
___________________________
(Legible Signature of notarial officer)
 
 
 
 

   

  

  			
	{SELLO, si aplica}
 
 
 
 
 
_____________, Título (y Grado)
Mi comisión expira: ___ de ____________ de 2023.
 
 
	{SEAL, If any}
 
 
 
 
 
___________________, Title (and Rank)
My commission expires: _____________ ___, 2023EX-10.1

 Exhibit 10.1 

SUBSCRIPTION AGREEMENT 
 This
Subscription Agreement (as may be amended, supplemented, modified or varied from in accordance with the terms herein, this “Subscription Agreement”), dated as of [•], is made and entered into by and among (i) Lanvin Group
Holdings Limited 复朗集团, a Cayman Islands exempted company limited by shares (“PubCo”),
(ii) Primavera Capital Acquisition Corporation, a Cayman Islands exempted company limited by shares (“SPAC”), and (iii) the party listed as the subscriber on the signature page hereof (the “Subscriber”).
Capitalized terms used but not otherwise defined in this Subscription Agreement have the respective meanings given to them in the Business Combination Agreement (as defined below). 

WHEREAS, on October 13, 2021, Fosun Fashion Holdings (Cayman) Limited, a Cayman Islands exempted company limited by shares formed a new
subsidiary, PubCo. 
 WHEREAS, on November 10, 2021, PubCo formed two new subsidiaries, Lanvin Group Heritage I Limited, a Cayman
Islands exempted company limited by shares and a direct, wholly-owned subsidiary of PubCo (“Merger Sub 1”), and Lanvin Group Heritage II Limited, a Cayman Islands exempted company limited by shares and
wholly-owned subsidiary of PubCo (“Merger Sub 2”). 
 WHEREAS, SPAC, Fosun Fashion Group (Cayman)
Limited, a Cayman Islands exempted company limited by shares (the “Company”) , PubCo, Merger Sub 1 and Merger Sub 2 [are entering][intend to enter]1 into a Business
Combination Agreement (as amended, modified, supplemented or waived from time to time in accordance with its terms, the “Business Combination Agreement” and the closing thereunder, the “Business Combination
Closing”), pursuant to which: (i) SPAC will merge with and into Merger Sub 1 (the “Initial Merger”), with Merger Sub 1 surviving the Initial Merger as a wholly-owned subsidiary of PubCo, (ii) immediately
following the completion of the Initial Merger, Merger Sub 2 will merge with and into the Company (the “Second Merger”), with the Company surviving the Second Merger as a wholly-owned subsidiary of PubCo (the Company
hereinafter referred to for the periods from and after the Second Merger Effective Time as the “Surviving Company”), and (iii) following the completion of the Initial Merger and the Second Merger, Merger Sub 1 will merge with
and into the Surviving Company (the “Third Merger”, and together with the Initial Merger and the Second Merger, the “Mergers”), with the Surviving Company surviving the Third Merger, in each case on the terms and
subject to the conditions set forth therein. 
 WHEREAS, in connection with and subject to the Business Combination Closing, the Subscriber
desires to subscribe for and purchase from PubCo, and PubCo desires to allot, issue and sell to the Subscriber, at the Closing (as defined below), such number of ordinary shares of PubCo, par value US$0.000001 per share, specified on the signature
page hereof (the “Subscription Shares”) for the aggregate subscription price specified on the signature page hereof (the “Subscription Price”), representing a subscription price of US$10.00 per Subscription
Share. 
 NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained in this
Subscription Agreement, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:  

 

	1 	 NTD: Second alternative is for existing investors who will sign subscription agreement before execution
of the BCA. 

  
 1 

 ARTICLE I 

SUBSCRIPTION 
 1.1 On the
terms and subject to the conditions contained in this Subscription Agreement, at the Closing, PubCo shall issue and sell to the Subscriber, and the Subscriber shall purchase from PubCo, the Subscription Shares for the Subscription Price. The
Subscriber understands and agrees that the Subscriber’s subscription for the Shares shall be deemed to be accepted by PubCo if and when this Subscription Agreement is signed and delivered by a duly authorized person by or on behalf of PubCo;
PubCo may do so in counterpart form. 
 ARTICLE II 

CLOSING 
 2.1 Subject to
the satisfaction or waiver of the conditions set forth in Article III, the closing of the subscription of the Subscription Shares (the “Closing”) shall occur on the same date as the Business Combination
Closing and immediately after the completion of the First Merger and the Second Merger and before the Third Merger (such date being referred to as the “Closing Date”). 

2.2 PubCo shall deliver a written notice (the “Closing Notice”) to the Subscriber at least ten (10) Business Days before
the anticipated date of the Business Combination Closing, specifying the anticipated date of the Business Combination Closing, the aggregate Subscription Price and instructions for wiring the Subscription Price to an account of a third party escrow
agent (the “Escrow Account”) which shall be PubCo’s transfer agent (the “Escrow Agent”) pursuant to an escrow agreement between PubCo and the Escrow Agent (the “Escrow Agreement”). No later
than five (5) Business Days before the anticipated date of the Business Combination Closing specified in the Closing Notice, the Subscriber shall deliver to PubCo such information as is reasonably requested in the Closing Notice in order for
PubCo to issue the Subscription Shares to the Subscriber. 
 2.3 At least two (2) Business Days before the anticipated date of the
Business Combination Closing specified in the Closing Notice, the Subscriber shall deliver the Subscription Price in cash via wire transfer of U.S. dollars in immediately available funds to the Escrow Account, to be held in escrow by the Escrow
Agent pending the Business Combination Closing. The Escrow Agreement will provide that if the Business Combination Closing does not occur within thirty (30) days after the Subscriber delivers the Subscription Price to the Escrow Agent, the
Escrow Agent shall automatically return to the Subscriber the Subscription Price, provided that neither the return of the Subscription Price placed in escrow nor the failure of the Closing to occur on the Closing Date specified in the Closing Notice
shall (i) terminate the Subscription Agreement, (ii) be deemed to be a failure of any of the conditions to Closing set forth in Article III or (iii) otherwise relieve either party of any of its obligations
hereunder. 
 2.4 PubCo shall register the Subscriber as the owner of the Subscription Shares purchased by the Subscriber hereunder in the
register of members of PubCo or with PubCo’s transfer agent by book entry on or promptly after (but in no event more than two (2) Business Days after) the Closing Date. Upon registration of the allotment of Subscription Shares to the
Subscriber (or its nominee, if applicable), the Subscription Price shall be released from the Escrow Agent automatically and without further action by PubCo and the Subscriber. 

  
 2 

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

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT OR LAWS.” 
 2.6 At the Closing, the
parties hereto shall execute and deliver, or cause to be executed and delivered, such additional documents and take such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the Closing as
contemplated by this Subscription Agreement. 
 ARTICLE III 

CLOSING CONDITIONS 
 3.1
The obligation of PubCo and the Subscriber to consummate the Closing are subject to the fulfillment, at or prior to the Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the
mutual written consent of PubCo, SPAC and the Subscriber: 
 (a) the Business Combination Closing shall have been consummated substantially
concurrently with, and immediately prior to, the Closing; and 
 (b) no order, writ, judgment, injunction, decree, determination, or award
shall have been entered by or with any governmental, regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition shall be in effect, preventing the purchase by the
Subscriber of the Subscription Shares. 
 3.2 In addition to the conditions set forth in Section 3.1, the
obligation of the Subscriber to consummate the Closing is subject to the satisfaction or the waiver by the Subscriber, on or prior to the Closing Date of the following conditions: 

(a) the representations and warranties of PubCo set forth in Article IV shall be true and correct as of the date
hereof and as of the Closing, as applicable, with the same effect as though such representations and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as of a specified date,
which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material adverse effect on PubCo or its ability to consummate the transactions contemplated by this Subscription
Agreement; and 
 (b) PubCo shall have performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by this Subscription Agreement to be performed, satisfied or complied with by PubCo at or prior to the Closing, except where the failure of such performance or compliance would not or would not reasonably be expected to prevent,
materially delay, or materially impair the ability of PubCo to consummate the Closing. 

  
 3 

 3.3 In addition to the conditions set forth in Section 3.1, the
obligation of PubCo to consummate the Closing is subject to the satisfaction or the waiver by the mutual written consent of PubCo and SPAC, on or prior to the Closing Date of the following conditions: 

(a) the representations and warranties of the Subscriber set forth in Article V shall be true and correct as of the
date hereof and shall be true and correct as of the Closing, as applicable, with the same effect as though such representations and warranties had been made on and as of such date (other than any such representation or warranty that is made by its
terms as of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material adverse effect on the Subscriber or its ability to consummate the transactions
contemplated by this Subscription Agreement; 
 (b) the Subscriber shall have wired the Subscription Price in accordance with
Section 2.3 and otherwise performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by the
Subscriber at or prior to the Closing; and 
 (c) the Subscriber shall have provided to PubCo the information requested in Schedule A
hereto. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF PUBCO 

PubCo represents and warrants to the Subscriber, the SPAC and the Placement Agents as follows: 

4.1 PubCo is an exempted company duly incorporated and validly existing and in good standing as an exempted company under the laws of the
Cayman Islands and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. 

4.2 The Subscription Shares have been duly authorized and, when allotted, issued and delivered to the Subscriber against full payment of the
Subscription Price in accordance with the terms of this Subscription Agreement, will be validly issued, fully paid and non-assessable and will not have been issued in violation of, or subject to any preemptive
or similar rights created under PubCo’s organizational documents or under the laws of the Cayman Islands. 
 4.3 This Subscription
Agreement, when executed and delivered by PubCo, shall constitute the valid and legally binding obligation of PubCo, enforceable against PubCo in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, (ii) as limited by laws or principles of equity relating to the availability
of specific performance, injunctive relief, or other equitable remedies. 

  
 4 

 4.4 The execution, delivery and performance of this Subscription Agreement by PubCo and the
consummation of the transactions contemplated by this Subscription Agreement by PubCo will not result in any violation or default (i) of any provisions of its organizational documents, (ii) of any instrument, judgment, order, writ or
decree to which it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which it is a party or by
which it is bound or (v) of any provision of federal or state statute, rule or regulation applicable to PubCo, in each case (other than clause (i)) which would have a material adverse effect on PubCo or its ability to consummate the
transactions contemplated by this Subscription Agreement. 
 4.5 Assuming the accuracy of the representations and warranties made by the
Subscriber in this Subscription Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of PubCo
in connection with the consummation of the transactions contemplated by this Subscription Agreement, except for: (i) filings pursuant to applicable securities laws; (ii) filings required to consummate the Business Combination Closing as
contemplated under the Business Combination Agreement; and (iii) where the failure to obtain of which would not reasonably likely have a material adverse effect on PubCo or its ability to consummate the transactions contemplated by this
Subscription Agreement. 
 4.6 As of the date of this Subscription Agreement, the authorized share capital of PubCo is US$50,000 consisting
of 50,000 shares of a par value of US$1.00 each, one share of which is issued and outstanding. 
 4.7 Neither PubCo nor any of its officers,
directors, employees, agents or shareholders has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published any advertisement in connection with the offer and sale of the
Subscription Shares. 
 4.8 PubCo has not entered into any agreement or arrangement entitling any agent, broker, investment banker,
financial advisor or other person to any broker’s or finder’s fee or any other commission or similar fee in connection with the transactions contemplated by this Subscription Agreement for which the Subscriber could become liable (it being
understood that the Subscriber will effectively bear its pro rata share of any such expense indirectly as a result of its investment in PubCo). Other than Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Cantor
Fitzgerald & Co. (the “Placement Agents”), PubCo is not aware of any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Subscription
Shares. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF THE SUBSCRIBER 

The Subscriber represents, warrants, acknowledges and agrees, on behalf of itself and each account for which it is subscribing for and
purchasing the Subscription Shares, to PubCo, SPAC and the Placement Agents, as follows: 
 5.1 The Subscriber is duly organized, validly
existing, and in good standing under the laws of the jurisdiction of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted. 

  
 5 

 5.2 The Subscriber has full power and authority to enter into this Subscription Agreement.
This Subscription Agreement, when executed and delivered by the Subscriber, will constitute the valid and legally binding obligation of the Subscriber, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies. 
 5.3 The execution, delivery and performance of this Subscription Agreement by the
Subscriber and the consummation of the transactions contemplated by this Subscription Agreement by the Subscriber (i) have been duly authorized and approved by all necessary and action and (ii) will not result in any violation or default
(a) under its charter, bylaws or other constituent documents or under any law, rule, regulation, agreement or other obligation by which the Subscriber is bound, (b) of any instrument, judgment, order, writ or decree to which it is a party
or by which it is bound, (c) under any note, indenture or mortgage to which it is a party or by which it is bound, (d) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (e) of any
provision of federal or state statute, rule or regulation applicable to the Subscriber, in each case (other than clauses (i) and (ii)(a)), which would have a material adverse effect on the Subscriber or its ability to consummate
the transactions contemplated by this Subscription Agreement. 
 5.4 No consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the Subscriber in connection with the consummation of the transactions contemplated by this Subscription Agreement.

 5.5 (i) The Subscriber is (A) (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”)) or an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act), in either case satisfying the applicable
requirements set forth on Schedule A hereto; (ii) an “institutional account” as defined in FINRA Rule 4512(c); and (iii) not an entity formed for the specific purpose of acquiring the Subscription Shares, (B) is a
sophisticated investor, experienced in investing in private equity transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or
securities, including in the participation in the purchase of the Subscription Shares, (C) has determined based on its own independent review and such professional advice as it deems appropriate that its purchase of the Subscription Securities
(i) is fully consistent with its financial needs, objectives and condition, (ii) complies and is fully consistent with all investment policies, guidelines and other restrictions applicable to it and (iii) is a fit, proper and suitable
investment for it, notwithstanding the substantial risks inherent in investing in or holding the Subscription Shares, (D) is acquiring the Subscription Shares only for its own account and not for the account of others, or if the Subscriber is
subscribing for the Subscription Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is a qualified institutional buyer or an institutional accredited investor (within the meaning of Rule 501(a)(1), (2),
(3) or (7) under the Securities Act) and the Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each
owner of each such account, (E) is acquiring the Subscription Shares without a view to, distribution thereof within the meaning of the Securities Act and agrees not to reoffer or resell the Subscription Shares except pursuant to an exemption
from registration under the Securities Act or pursuant to an effective registration statement thereunder (it being understood, however, that the disposition of such person’s property shall at all times be within such person’s control) or
in any manner that would violate the securities laws of the United States or any other jurisdiction (and has provided PubCo with the requested information on Schedule A), and (F) understands that the offering meets the exemptions from
filing under FINRA Rules 5123(b)(1)(A), (C) and (J) and the institutional customer exemption under FINRA Rule 2111(b). The Subscriber further represents and warrants that it is aware the Subscription Shares are being offered under the exemption
from registration provided by Section 4(a)(2) of, or Regulation S under, the Securities Act; provided, however, that it is aware PubCo is not relying specifically on the safe harbor from the registration requirements of the Securities
Act provided by Regulation D under the Securities Act, and PubCo will not file a Form D under the Securities Act with respect to the offer and sale of the Subscription Shares. 

  
 6 

 5.6 If the Subscriber is located outside of the United States and not a U.S. person (a
“Foreign Subscriber”), the Subscriber (A) is acquiring the Subscription Shares in an “offshore transaction” meeting the requirements of Rule 903 of Regulation S under the Securities Act, (B) understands that the
offering meets the exemptions from filing under FINRA Rule 5123(c), (C) is a sophisticated investor, experienced in investing in private equity transactions and capable of evaluating investment risks independently, both in general and with
regard to all transactions and investment strategies involving a security or securities, (D) is aware that the sale to them is being made in reliance on a private placement exemption from, or in a transaction not subject to, registration under
the Securities Act, and the purchaser and the person, if any, for whose account or benefit the purchaser is acquiring the Securities offered pursuant to this Subscription, was located outside of the United States and was not a U.S. person at the
time (x) the offer was made to it and (y) when the buy order for such Subscription Shares was originated, and continues to be located outside of the United States and not to be a U.S. person and has not purchased such Subscription Shares
for the account or benefit of any person located in the United States or who is a U.S. person, or entered into any arrangement for the transfer of such Subscription Shares or any economic interest therein to any person located in the United States
or any U.S. person, (E) is authorized to consummate the purchase of the Subscription Shares offered pursuant to this Subscription Agreement in compliance with all applicable laws and regulations of the jurisdiction where such sales are to be
made, and (F) has not acquired the Subscription Shares as a result of, and will not itself engage in, any “directed selling efforts” (as defined in Rule 902 of Regulation S under the Securities Act) in the United States in
respect of any of the Subscription Shares which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the
Subscription Shares. 
 5.7 The Subscriber understands that the Subscription Shares are being offered in a transaction not involving any
public offering within the meaning of the Securities Act and that the Subscription Shares have not been registered under the Securities Act or any other applicable securities laws of any other jurisdiction, are being offered in transactions not
requiring registration under the Securities Act, and unless so registered, may not be reoffered, resold or otherwise transferred except in compliance with the registration requirements of the Securities Act or any other applicable securities laws,
pursuant to any exemption therefrom or in a transaction not subject thereto. The Subscriber understands that no disclosure or offering document has been prepared in connection with the offer and sale of the Subscription Shares by the Placement
Agents. The Subscriber understands that the Subscription Shares may not be resold, transferred, pledged or otherwise disposed of by the Subscriber absent an effective registration statement under the Securities Act, except (i) to PubCo or a
subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning and subject to the requirements of Regulation S under the
Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and that any book-entry position or certificates representing the Subscription Shares shall contain a legend to such
effect. The Subscriber acknowledges that the Subscription Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. The Subscriber understands and agrees that the Subscription Shares will be subject to
transfer restrictions and, as a result of these transfer restrictions, the Subscriber may not be able to readily resell the Subscription Shares and may be required to bear the financial risk of an investment in the Subscription Shares for an
indefinite period of time. The Subscriber understands that it has been advised to consult legal counsel and tax and accounting advisors prior to making any offer, resale, pledge or transfer of any of the Subscription Shares. 

  
 7 

 5.8 The Subscriber understands and agrees that the Subscriber is purchasing the Subscription
Shares directly from PubCo. The Subscriber further acknowledges that there have been no representations, warranties, covenants and agreements made to the Subscriber by or on behalf of PubCo, SPAC, the Placement Agents or their respective affiliates
or any of the respective subsidiaries, control persons, officers, directors, employees, partners, agents or representatives, or any other party to the Transaction or any other person or entity, expressly or by implication (including by omission),
other than those representations, warranties, covenants, agreements and statements of PubCo and SPAC expressly set forth in this Subscription Agreement, and the Subscriber is not relying on any other purported representations, warranties, covenants,
agreements or statements (including by omission). The Subscriber acknowledges that certain information provided to the Subscriber by PubCo was based on projections, and such projections were prepared based on assumptions and estimates that are
inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The Subscriber
acknowledges that such information and projections were prepared without the participation of the Placement Agents and that the Placement Agents do not assume responsibility for independent verification of, or the accuracy or completeness of, such
information or projections. 
 5.9 The Subscriber (i) has received, reviewed and understood the offering materials made available to it
in connection with the purchase of the Subscription Shares, including financial and other information as it deems necessary to make its decision to purchase the Subscription Shares, (ii) has had access to, and an adequate opportunity to review,
financial and other information as it deems necessary to make its decision to purchase the Subscription Shares, (iii) has had the opportunity to ask questions of and receive answers from PubCo or any person or persons acting on behalf of PubCo
directly concerning the terms and conditions of an investment in the Subscription Shares, (iv) has conducted and completed its own independent due diligence with respect to the purchase of the Subscription Shares and understands that the
unaudited financial statements and other financial information (whether historical or in the form of financial forecasts or projections) about PubCo have been prepared and reviewed solely by PubCo and its officers and employees and have not been
reviewed by any outside party or certified or audited by an independent third-party auditor or audit firm and (v) acknowledges that no statement or printed material which is contrary to the offering materials has been made or given to it by or
on behalf of PubCo. Based on such information as it has deemed appropriate and without reliance upon the Placement Agents, it has independently made its own analysis and has relied solely on such independent investigation in making its decision to
subscribe for and purchase the Subscription Shares. 

  
 8 

 5.10 The Subscriber’s acquisition and holding of the Subscription Shares will not
constitute or result in a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section 4975 of the Internal Revenue Code
of 1986, as amended, or any applicable similar law. 
 5.11 The Subscriber acknowledges and agrees that the Subscriber has received, and had
adequate opportunity to review such information as the Subscriber deems necessary in order to make an investment decision with respect to the Subscription Shares, including with respect to PubCo, SPAC and the Transactions, and is satisfied
concerning the relevant tax and other economic considerations relevant to the Subscriber’s investment in the Subscription Shares. The Subscriber and the Subscriber’s professional advisor(s) have had the full opportunity to ask such
questions, receive such answers and obtain such information as the Subscriber and the Subscriber’s professional advisor(s) have deemed necessary, including directly concerning the terms and conditions of an investment in the Subscription
Shares, to make an investment decision with respect to the Subscription Shares. Neither the Placement Agents nor any of their affiliates have made or make any representation or warranty, whether express or implied, of any kind or character as to
PubCo, SPAC or the quality or value of the Subscription Shares. The Subscriber acknowledges (i) that the Placement Agents and any of their respective affiliates currently may have, or later may come into possession of, information concerning
PubCo that is not known to the Subscriber and that may be material to a decision to purchase the Subscription Shares, (ii) the Subscriber has determined to subscribe for and purchase the Subscription Shares notwithstanding its lack of knowledge
of such non-public information and (iii) the Subscriber agrees such non-public information need not be provided to it and the Placement Agents shall have no
liability to the Subscriber and the Subscriber, to the extent permitted by law, waives and releases any claims it may have against the Placement Agents with respect to the nondisclosure of such non-public
information. 
 5.12 The Subscriber became aware of this offering of the Subscription Shares solely by means of direct contact between the
Subscriber, on the one hand, and PubCo, SPAC, the Company, the Placement Agents or their respective advisors (including without limitation, attorneys, accountants, bankers, consultants, financial advisors), agents, control persons, representatives,
affiliates, directors, officers, managers, members, and/or employees, and/or the representatives of such persons (such parties, collectively “Representatives”), on the other hand. The Subscription Shares were offered to the
Subscriber solely by direct contact between the Subscriber and PubCo, SPAC, the Company and the Placement Agents or their respective Representatives. The Subscriber is not relying upon, and has not relied upon, any statement, representation or
warranty made by any other person, firm or corporation (including, without limitation, PubCo, SPAC, the Company, the Placement Agents, any of their affiliates or any of their respective control persons, officers, directors or employees), other than,
with respect to PubCo but not the Placement Agents, the representations and warranties contained in Article IV, in making its investment or decision to invest in PubCo. The Subscriber agrees that none of the Placement
Agents nor any of their affiliates have acted as a financial advisor or fiduciary to the Subscriber and that none of PubCo, SPAC, the Company, the Placement Agents or their respective Representatives shall be liable to the Subscriber for any action
heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Subscription Shares. The Subscriber did not become aware of this offering of the Subscription Shares, nor were the Subscription Shares offered
to the Subscriber, by any other means, and none of PubCo, SPAC, the Company, the Placement Agents or their respective Representatives acted as investment adviser, broker or dealer to the Subscriber. Subscriber acknowledges that the Subscription
Shares (i) were not offered by any form of general solicitation or general advertising, including methods described in Section 502(c) of Regulation D under the Securities Act and (ii) are not being offered in a manner involving a
public offering registered under the Securities Act, or any state and applicable securities laws. 

  
 9 

 5.13 The Subscriber understands that its agreement to purchase and the intention to hold the
Subscription Shares involves a high degree of risk which could cause the Subscriber to lose all or part of its investment. The Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of an investment in the Subscription Shares, and the Subscriber has sought such accounting, legal, business and tax advice as the Subscriber has considered necessary to make an informed investment decision. The Subscriber acknowledges that
its purchase of Subscription Shares (i) is fully consistent with the Subscriber’s financial needs, objectives and condition, (ii) complies and is fully consistent with all of the Subscriber’s applicable investment policies,
guidelines and other restrictions, (iii) has been duly authorized and approved by all necessary action (corporate or otherwise), and (iv) does not and will not violate or constitute a default under the Subscriber’s charter, by-laws or other constituent documents or under any law, rule, regulation, agreement or other obligation by which the Subscriber is bound and is a fit, proper and suitable investment, notwithstanding the substantial
risks inherent in investing in or holding the Subscription Shares. The Subscriber is able to fend for itself in the purchase of the Subscription Shares and has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of its investment in the Subscription Shares and has the ability to bear the economic risks of its prospective investment and can afford the complete loss of such investment. 

5.14 The Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the
Subscription Shares or made any findings or determination as to the fairness of this investment. 
 5.15 The Subscriber is not (i) a
person or entity named on the List of Specially Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued by the President
of the United States and administered by OFAC, or any other list of prohibited or restricted parties promulgated by OFAC, the U.S. Department of Commerce, the U.S. Department of State, the United Nations Security Council, the European Union, Her
Majesty’s Treasury or other relevant sanctions authority (“Consolidated Sanctions Lists”), or a person or entity prohibited or restricted by any OFAC sanctions program, or a person or entity whose property and interests in
property subject to U.S. jurisdiction are otherwise blocked under any U.S. laws, Executive Orders or regulations, (ii) an entity owned, directly or indirectly, individually or in the aggregate, 50 percent or more by, acting on behalf of,
or controlled by, one or more persons described in subsections (i) or (ii), (iii) organized, incorporated, established, located, resident or born in, or a citizen, national or the government, including any political subdivision, agency or
instrumentality thereof, of, Cuba, Iran, North Korea, Syria, or the Crimea, so-called Donetsk People’s Republic or so-called Luhansk People’s Republic regions
of Ukraine, or any other country or territory embargoed or subject to trade restrictions by the United States, (iv) a person or entity named on the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) Denied
Persons List, Entity List, Military End User List or Unverified List or the U.S. Department of State’s Debarred List, (v) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (vi) a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank. (collectively, (i) through (vi), a “Restricted Person”). The
Subscriber agrees to provide law enforcement agencies, if requested thereby, records relating to its sanctions compliance as required by applicable law, provided that the Subscriber is permitted to do so under applicable law. The Subscriber
represents that no monies used to purchase the Subscription Shares have been or will be derived from any Restricted Person, or from activity undertaken in violation of sanctions laws, anti-money laundering laws, or Anti-Corruption Laws. The
Subscriber also represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 and its implementing regulations (collectively, the
“BSA/PATRIOT Act”) or any other applicable anti-money laundering laws or regulations, that the Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act or other
applicable anti-money laundering laws or regulations. The Subscriber also represents that, to the extent required and permitted by applicable law, it maintains policies and procedures reasonably designed for the screening of its investors against
the OFAC and BIS sanctions programs and the Consolidated Sanctions Lists, including for Restricted Persons, and otherwise to ensure compliance with all applicable sanctions and embargo laws, statutes, and regulations. The Subscriber further
represents and warrants that, to the extent required and permitted by applicable law, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Subscription Shares were legally and
were not obtained, directly or indirectly, from a Restricted Person. “Anti-Corruption Laws” is defined to mean applicable laws or regulations relating to anti-bribery or anti-corruption, including without limitation, the U.S.
Foreign Corrupt Practices Act and the UK Bribery Act 2010, in each case as amended from time to time. 

  
 10 

 5.16 The Subscriber does not have, as of the date hereof, and during the 30-day period immediately prior to the date hereof, the Subscriber has not entered into, any “put equivalent position” as such term is defined in Rule 16a-1 under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or short sale positions with respect to the securities of PubCo or SPAC. Notwithstanding the foregoing, in the case of the Subscriber that is a multi-managed
investment vehicle whereby separate portfolio managers manage separate portions of the Subscriber’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of
the Subscriber’s assets, the representation set forth in this Section 5.17 shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Subscription Shares
covered by this Subscription Agreement. 
 5.17 If the Subscriber is an employee benefit plan that is subject to Title I of ERISA, a plan,
an individual retirement account or other arrangement that is subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or an employee benefit plan that is a governmental plan (as defined in
Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA), a non-U.S. plan (as described in Section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing but
may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code, or an entity whose underlying assets are
considered to include “plan assets” of any such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA or Section 4975 of the Code or other laws or
regulations that are similar to such provisions, then the Subscriber represents and warrants that neither PubCo, SPAC, nor any of its respective affiliates (the “Transaction Parties”) has acted as the Plan’s fiduciary, or has
been relied on for advice, with respect to its decision to acquire and hold the Subscription Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any decision to acquire, continue
to hold or transfer the Subscription Shares. 

  
 11 

 5.18 The Subscriber has, or has received binding and enforceable commitments to have, and at
the Closing will have, sufficient immediately available funds to pay the Subscription Price and consummate the Closing. 
 5.19 The
Subscriber understands and agrees not to engage in any hedging transactions involving any of the Subscription Shares unless such transactions are in compliance with the provisions of the Securities Act and in each case only in accordance with
applicable state securities laws. 
 5.20 No broker, finder or other financial consultant has acted on behalf of Subscriber in connection
with this Subscription Agreement or the transactions contemplated hereby in such a way as to create any liability on PubCo or SPAC. 
 5.21
If the Subscriber is a Foreign Subscriber, the Subscriber (i) is knowledgeable of, or has been independently advised as to, the applicable securities laws of the securities regulators having application in the jurisdiction in which the
Subscriber is resident (the “International Jurisdiction”) which would apply to the acquisition of the Subscription Shares, (ii) is purchasing the Subscription Shares pursuant to exemptions from prospectus or equivalent
requirements under applicable securities laws or, if such is not applicable, the Subscriber is permitted to purchase the Subscription Shares under the applicable securities laws of the securities regulators in the International Jurisdiction without
the need to rely on any exemptions, (iii) acknowledges that the applicable securities laws of the authorities in the International Jurisdiction do not require PubCo to make any filings or seek any approvals of any kind whatsoever from any
securities regulator of any kind whatsoever in the International Jurisdiction in connection with the issue and sale or resale of any of the Subscription Shares, and (iv) represents and warrants that the acquisition of the Subscription Shares by
the Subscriber does not trigger: (x) any obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the International Jurisdiction, (y) any continuous disclosure reporting
obligation of PubCo in the International Jurisdiction, and the Subscriber will, if requested by PubCo, deliver to PubCo a certificate or opinion of local counsel from the International Jurisdiction which will confirm the matters referred to in
subparagraphs (ii), (iii) and (iv) above to the satisfaction of PubCo, acting reasonably. 
 5.22 The Subscriber acknowledges that, in
addition to acting as Placement Agent for SPAC with respect to the Transactions, Cantor Fitzgerald & Co. is acting as financial advisor to the Company in connection with the Transactions and that Citigroup Global Markets Inc. and Credit
Suisse Securities (USA) LLC are acting as capital markets advisors to the Company with respect to the Transaction. 
 5.23 The Placement
Agents and their directors, officers, employees, affiliates, representatives and controlling persons have made no independent investigation with respect to the Company, PubCo, SPAC or the Subscription Shares or the accuracy, completeness or adequacy
of any information supplied to them by PubCo, the Company or SPAC. 
 5.24 Prior to the Closing, the Subscriber agrees to promptly notify
the PubCo, SPAC and the Placement Agents if any of the acknowledgments, understandings, agreements, representations and warranties of such party set forth herein are, to its knowledge, no longer accurate. 

  
 12 

 ARTICLE VI 

NO OTHER REPRESENTATIONS AND WARRANTIES 

6.1 Except for the specific representations and warranties contained in Article IV, none of PubCo nor any person on
behalf of PubCo, including without limitation any placement agent for the sale of the Subscription Shares nor any of PubCo’s affiliates or representatives (collectively, the “PubCo Parties”) has made, makes or shall be deemed
to make any other express or implied representation or warranty with respect to PubCo, the Transactions, the offering of the Subscription Shares, the transaction contemplated hereby or any other matter, and the PubCo Parties disclaim any such
representation or warranty. Except for the specific representations and warranties expressly made by PubCo in Article IV and in any certificate or agreement delivered by PubCo pursuant hereto, the Subscriber specifically
disclaims that it, or anyone on its behalf, is relying upon any other representations or warranties that may have been made by any PubCo Party. 

6.2 Except for the specific representations and warranties contained in this Article V and in any certificate or
agreement delivered pursuant hereto, none of the Subscriber nor any person acting on behalf of the Subscriber nor any of the Subscriber’s affiliates (collectively, the “Subscriber Parties”) has made, makes or shall be deemed to
make any other express or implied representation or warranty with respect to the Subscriber and this offering, and the Subscriber Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly
made by the Subscriber in Article V and in any certificate or agreement delivered by the Subscriber pursuant hereto, each of PubCo and SPAC specifically disclaims that it, or anyone on its behalf, is relying upon any other
representations or warranties that may have been made by any Subscriber Party. 
 ARTICLE VII 

REGISTRATION RIGHTS 
 7.1
The Subscriber shall have registration rights as set forth in Exhibit A hereto. 
 ARTICLE VIII 

NO SHORT SALES 
 8.1 For
purposes of this Article VIII, “Short Sales” shall mean all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all short positions effected through
any direct or indirect stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis),
or sales or other short transactions through non-U.S. broker dealers or foreign regulated brokers. Notwithstanding the foregoing, (i) nothing in this Article VIII shall prohibit
other entities under common management with Subscriber that have no knowledge of this Subscription Agreement or of Subscriber’s Subscription (including Subscriber’s controlled affiliates and/or affiliates) from entering into any Short
Sales and (ii) in the case of an Investor that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Investor’s assets and the portfolio managers have no knowledge of the investment
decisions made by the portfolio managers or desks managing other portions of such Investor’s assets, the limitations set forth in the first sentence of this Article VIII shall only apply with respect to the portion of
assets managed by the portfolio managers or desks that made the investment decision to purchase the Subscription Shares covered by this Subscription Agreement. 

  
 13 

 ARTICLE IX 

TRUST ACCOUNT WAIVER 
 9.1
The Subscriber acknowledges that SPAC is a blank check company with the powers and privileges to effect a merger, share exchange, asset acquisition, share exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses. The Subscriber further acknowledges that, as described in the final prospectus of SPAC, dated January 21, 2021, related to its initial public offering (the “Prospectus”) available at www.sec.gov,
substantially all of SPAC’s assets consist of the cash proceeds of SPAC’s initial public offering and private placements of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust
Account”) for the benefit of SPAC, its public shareholders and the underwriters of SPAC’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to SPAC to pay its
tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of PubCo and SPAC entering into this Subscription Agreement, the receipt and sufficiency of which are
hereby acknowledged, the Subscriber, on behalf of itself and its Representatives, hereby (i) agrees that it does not now and shall not at any time thereafter have any right, title and interest, or any claim of any kind they have or may have in
the future, in or to any monies held in the Trust Account, and shall not make any claim against the Trust Account, in each case, to the extent such claim arises as a result of, in connection with or relating in any way to this Subscription Agreement
or any other matter, and regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Released Claims”), (ii)
irrevocably waives any Released Claims that it may have against the Trust Account now or in the future as a result of, or arising out of, any negotiations, contracts or agreements with PubCo or SPAC, and (iii) will not seek recourse against the
Trust Account for any reason whatsoever. The Subscriber agrees not to seek recourse or make or bring any action, suit, claim or other proceeding against the Trust Account as a result of, or arising out of, this Subscription Agreement, the
transactions contemplated hereby or the Subscription Shares regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability. The Subscriber acknowledges and agrees that it shall not have any redemption
rights with respect to the Subscription Shares pursuant to PubCo’s organizational documents in connection with the Transactions or any other business combination, any subsequent liquidation of the Trust Account, SPAC or PubCo or otherwise. In
the event the Subscriber has any claim against PubCo or SPAC as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby or the Subscription Shares, it shall pursue such claim solely against PubCo, SPAC and
their assets outside the Trust Account and not against the Trust Account or any monies or other assets in the Trust Account. 

ARTICLE X 
 TERMINATION

 10.1 This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of
the parties hereto hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (a) the termination of the Business Combination Agreement in accordance with its terms without
the Business Combination Closing having occurred, (b) the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if any of the conditions to the Closing set forth in Article III are not
satisfied, and are not waived by the party entitled to grant such waiver, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated immediately after the Business
Combination Closing and (d) the Outside Date, if the Business Combination Closing has not occurred on or before such date; provided, that no termination of this Subscription Agreement will relieve any party hereto from liability for any
willful breach hereof prior to the time of such termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach. PubCo shall notify the Subscriber of the termination
of the Business Combination Agreement promptly after such termination. Notwithstanding the foregoing, Article IX, this Article X and Article XI shall survive the
termination of this Subscription Agreement. 

  
 14 

 ARTICLE XI 

GENERAL PROVISIONS 
 11.1
Third-Party Beneficiaries. Each party hereto acknowledges that the Placement Agents are relying on the acknowledgements, understandings, agreements, representations and warranties contained in this Subscription Agreement and further acknowledges
that the Placement Agents are third-party beneficiaries with the right of enforcement of Article IV, Article V, Article VI and this Article XI, in each case, on their own behalf and not, for the avoidance of doubt, on behalf of PubCo, SPAC or the
Company. The Subscriber acknowledges and agrees that the purchase by the Subscriber of Subscription Shares from PubCo will constitute a reaffirmation of the acknowledgements, understandings, agreements, representations and warranties herein by the
Subscriber as of the time of such purchase. Except as expressly provided in this Subscription Agreement, including this Section 11.1, a person who is not a party to this Subscription Agreement has no right to enforce any
term of, or enjoy any benefit under this Subscription Agreement. 
 11.2 Non-Reliance and
Exculpation. 
 (a) The Subscriber acknowledges and agrees that (i) each of the Placement Agents is acting solely as placement agent in
connection with the purchase of the Subscription Shares and is not acting as an underwriter or in any other capacity, except as set forth herein, and is not and shall not be construed as a fiduciary for any Subscriber, the Company, SPAC, PubCo or
any other person or entity in connection with the purchase of the Subscription Shares, (ii) the Placement Agents have not made and will not make any representation or warranty, whether express or implied, of any kind or character and have not
provided any advice or recommendation in connection with the purchase of the Subscription Shares and (iii) the Placement Agents will have no responsibility or liability with respect to (A) any representations, warranties or agreements made
by any person or entity under or in connection with the purchase of the Subscription Shares or any of the documents furnished pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability (with respect to any
person) thereof, or (B) the business, affairs, financial condition, operations, properties or prospects of, or any other matter concerning the Company, PubCo, SPAC or the purchase of the Subscription Shares. 

(b) The Subscriber further agrees that neither the Placement Agents nor any of their affiliates or any of their or their respective
affiliates’ control persons, officers, directors or employees, shall be liable (including in contract, tort, under federal or state securities laws or otherwise) to the Subscriber pursuant to this Subscription Agreement for any action
heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Subscription Shares. On behalf of itself and its affiliates and any of its or their respective control persons, officers, directors or
employees, the Subscriber releases the Placement Agents in respect of any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements related to this Subscription Agreement or the transactions
contemplated hereby. The Subscriber agrees not to commence any litigation or bring any claim against the Placement Agent in any court or any other forum which relates to, may arise out of, or is in connection with, the placement of the Subscription
Shares. The Subscriber undertook this investment freely and after obtaining independent legal advice. 

  
 15 

 11.3 Notices. All general notices, demands or other communications required or
permitted to be given or made hereunder shall be in writing and delivered personally or sent by courier or sent by registered post or sent by electronic mail to the intended recipient thereof at its address or at its email address set out below (or
to such other address or email address as a party may from time to time notify the other parties). Any such notice, demand or communication shall be deemed to have been duly served (a) if given personally or sent by courier, upon delivery
during normal business hours at the location of delivery or, if later, then on the next Business Day after the day of delivery; (b) if sent by electronic mail during normal business hours at the location of delivery, immediately, or, if later,
then on the next Business Day after the day of delivery; (c) the third Business Day following the day sent by reputable international overnight courier (with written confirmation of receipt), and (d) if sent by registered post, five days
after posting. The initial addresses and email addresses of the Parties for the purpose of this Subscription Agreement are: 
 If to SPAC:

 Primavera Capital Acquisition Corporation 

41/F Gloucester Tower 
 15
Queen’s Road Central 
 Hong Kong 

Attention: Max Chen, Chief Executive Officer 

Email: max.chen@primavera-capital.com 

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

Simpson Thacher & Bartlett LLP 

3901 China World Tower A 
 1
Jianguomenwai Avenue 
 Beijing 100004, China 

Attention: Yang Wang 
 Email:
yang.wang@stblaw.com 
 with a second required copy (which shall not constitute notice) to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Attention: Mark Brod / Daniel Webb 

Email: mbrod@stblaw.com / dwebb@stblaw.com 

  
 16 

 If to PubCo: 

LANVIN GROUP HOLDINGS LIMITED 复朗集团 
 3701-02, Tower S2, Bund Finance
Center, 600 Zhongshan Rd East 
 No.2, Shanghai, 200010, China 

Attention: Yun CHENG / Gong CHENG 

Email: joann.cheng@lanvin-group.com / roy.cheng@lanvin-group.com 

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

DLA Piper Singapore Pte. Ltd. 

80 Raffles Place, 
 #48-01 UOB Plaza 1, 
 Singapore 048624 

Attention: Joseph E. Bauerschmidt 

Email: Joe.Bauerschmidt@dlapiper.com 

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

DLA Piper Hong Kong 
 25th
Floor, 
 Three Exchange Square, 

8 Connaught Place, Central, 

Hong Kong 
 Attention: Christina
Loh 
 Email: Christina.Loh@dlapiper.com 

If to the Subscriber: 
 At the
Subscriber’s address as set forth on the signature page hereof, or to such e-mail address, facsimile number (if any) or address as subsequently modified by written notice given in accordance with this
Section 11.1. 
 11.4 Survival of Representations and Warranties. All of the representations and warranties
contained herein shall survive the Closing. 
 11.5 Entire Agreement. This Subscription Agreement, together with any documents,
instruments and writings that are delivered pursuant hereto or referenced herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or
representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

11.6 Successors. All of the terms, agreements, covenants, representations, warranties, and conditions of this Subscription Agreement
are binding upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Subscription Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Subscription Agreement, except as expressly provided in this Subscription Agreement. 

  
 17 

 11.7 Assignments; Successors and Permitted Assigns. No party hereto may assign either
this Subscription Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other parties, except that the Subscriber may assign its rights and obligations under this Subscription Agreement to one
or more of its affiliates or another person acceptable to PubCo, provided that no such assignment shall relieve the Subscriber of its obligations hereunder if any such affiliate fails to perform such obligations. Except as otherwise provided herein,
this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties,
covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. 

11.8 Counterparts. This Subscription Agreement may be executed in two or more counterparts (including by facsimile or electronic mail
or in .pdf), each of which will be deemed an original but all of which together will constitute one and the same instrument. 
 11.9
Headings. The section headings contained in this Subscription Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of this Subscription Agreement. 

11.10 Governing Law; Arbitration. This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or
related to this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of this Subscription Agreement, shall be governed by and construed in
accordance with the Laws of the State of New York, without giving effect to the principles of conflicts of laws that would otherwise require the application of the Laws of any other jurisdiction. All disputes arising out of or in connection with
this Subscription Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules. The place or legal seat of arbitration shall be Hong
Kong. The official language of the arbitration shall be English. Any party to an award may apply to any court of competent jurisdiction for enforcement of such award and, for purposes of the enforcement of such award, the parties hereto irrevocably
and unconditionally submit to the jurisdiction of any court of competent jurisdiction and waive any defenses to such enforcement based on lack of personal jurisdiction or inconvenient forum. 

11.11 Amendments. This Subscription Agreement may not be amended, modified or waived as to any particular provision, except with the
written consent of PubCo, SPAC and the Subscriber. 
 11.12 Severability. The provisions of this Subscription Agreement will be
deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Subscription Agreement, as applied to any party hereto or
to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

  
 18 

 11.13 Expenses. Each of PubCo, SPAC and the Subscriber will bear its own costs and
expenses incurred in connection with the preparation, execution and performance of this Subscription Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents, representatives, financial
advisors, legal counsel and accountants. PubCo shall be responsible for the fees of its transfer agent, stamp taxes and all of the DTC’s fees associated with the issuance of the Subscription Shares. 

11.14 Construction. The parties hereto have participated jointly in the negotiation and drafting of this Subscription Agreement. If an
ambiguity or question of intent or interpretation arises, this Subscription Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of
the authorship of any provision of this Subscription Agreement. Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations promulgated thereunder, unless the context
requires otherwise. The words “include” “includes” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders
will be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Subscription Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and words of similar import refer to this Subscription Agreement as a whole and not to any particular subdivision unless expressly so
limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the
fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such
party hereto is in breach of the first representation, warranty, or covenant. 
 11.15 Waiver. No waiver by any party hereto of any
default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any
rights arising because of any prior or subsequent occurrence. 
 11.16 Confidentiality. Except as may be required by law, regulation
or applicable stock exchange listing requirements, unless and until the transactions contemplated hereby and the terms hereof are publicly announced or otherwise publicly disclosed by PubCo or SPAC, the parties hereto shall keep confidential and
shall not publicly disclose the existence or terms of this Subscription Agreement. 
 11.17 Specific Performance. The parties hereto
agree that irreparable damage would occur in the event that any provision of this Subscription Agreement was not performed in accordance with the specific terms hereof or was otherwise breached, and that money damages or legal remedies would not be
an adequate remedy for any such damages. Therefore, it is accordingly agreed that the parties shall be entitled to enforce specifically the terms and provisions of this Subscription Agreement and may also seek preliminary injunctive relief in any
court of competent jurisdiction in addition to any other remedy to which such party is entitled at law or in equity. 
 [Remainder of page
intentionally left blank] 

  
 19 

 IN WITNESS WHEREOF, the undersigned have executed this Subscription Agreement to be
effective as of the date first set forth above. 
  

			
	SUBSCRIBER:
		
	[•]	 	
		
	By:	 	              

		 	Name:
		 	Title:

  

	
	Address for Notices:
	
	Email: [•]
	Fax: [•]
	Telephone Number: [•]
	Subscriber’s EIN: [•]

  

			
	Number of Subscription Shares:	  	[•]
	Purchase Price per Subscription Share:	  	USD10.00
	Aggregate Purchase Price for Subscription Shares:	  	USD[•]
	[Name in which the Subscription Shares are to be registered (if different):]	  	[•]

 [Heritage – Signature Page to PIPE Subscription Agreement] 

 IN WITNESS WHEREOF, the undersigned have executed this Subscription Agreement to be
effective as of the date first set forth above. 
  

			
	PUBCO:
	
	LANVIN GROUP HOLDINGS LIMITED
	复朗集团
		
	By:	 	
                 

		 	Name:
		 	Title:

 [Heritage – Signature Page to PIPE Subscription Agreement] 

 IN WITNESS WHEREOF, the undersigned have executed this Subscription Agreement to be effective as of
the date first set forth above. 
  

			
	SPAC:
	
	PRIMAVERA CAPITAL ACQUISITION CORPORATION
		
	By:	 	              

		 	Name:
		 	Title:

 [Heritage – Signature Page to PIPE Subscription Agreement]

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