Document:

Exhibit
10.1

 

SUBSCRIPTION
AGREEMENT

 

This
SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on August 1, 2020, by and between DiamondPeak
Holdings Corp., a Delaware corporation (the “Company”), and the undersigned subscriber (“Subscriber”).

 

WHEREAS,
concurrently with the execution of this Subscription Agreement, the Company is entering into a Merger Agreement with Lordstown
Motors Corp., a Delaware corporation (“Lordstown”), and DPL Merger Sub Corp., a Delaware corporation and wholly
owned subsidiary of the Company (“Merger Sub”), providing for the merger of Lordstown and Merger Sub (the “Merger
Agreement” and the transactions contemplated by the Merger Agreement, the “Transaction”);

 

WHEREAS,
in connection with the Transaction, Subscriber desires to subscribe for and purchase from the Company, immediately prior to the
consummation of the Transaction, that number of shares of the Company’s Class A common stock, par value $0.0001 per share
(the “Class A Shares”), set forth on the signature page hereto (the “Subscribed Shares”)
for a purchase price of $10.00 per share (the “Per Share Price” and the aggregate of such Per Share Price for
all Subscribed Shares being referred to herein as the “Purchase Price”), and the Company desires to issue and
sell to Subscriber the Subscribed Shares in consideration of the payment of the Purchase Price by or on behalf of Subscriber to
the Company; and

 

WHEREAS,
concurrently with the execution of this Subscription Agreement, the Company is entering into subscription agreements (the “Other
Subscription Agreements” and together with the Subscription Agreement, the “Subscription Agreements”)
with certain other investors (the “Other Subscribers” and together with the Subscriber, the “Subscribers”),
pursuant to which such investors have agreed to purchase on the closing date of the Transaction (the “Closing Date”),
inclusive of the Subscribed Shares, an aggregate amount of up to [•] Class A Shares, at the Per Share Price.

 

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

 

1. Subscription.
Subject to the terms and conditions hereof, at the Closing (as defined below), Subscriber hereby agrees to subscribe for and purchase,
and the Company hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Subscribed Shares (such
subscription and issuance, the “Subscription”).

 

2. Closing.

 

a. The
consummation of the Subscription contemplated hereby (the “Closing”) shall occur immediately prior to the consummation
of the Transaction on the Closing Date.

 

     

     

    

 

b. At
least five (5) Business Days before the anticipated Closing Date, the Company shall deliver written notice to Subscriber (the “Closing
Notice”) specifying (i) the anticipated Closing Date and (ii) the wire instructions for delivery of the Purchase Price
to the Company. No later than two (2) Business Days after receiving the Closing Notice, Subscriber shall deliver to the Company
such information as is reasonably requested in the Closing Notice for the Company to issue the Subscribed Shares to Subscriber.
By 10:00 AM on the Closing Date, the Subscriber shall deliver to the Company the Purchase Price in cash via wire transfer
to the account specified in the Closing Notice against (and concurrently with) delivery by the Company to Subscriber of (i) the
Subscribed Shares in book entry form, free and clear of any liens or other restrictions (other than those arising under this Subscription
Agreement or applicable securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions)
or to a custodian designated by Subscriber, as applicable, and (ii) written notice from the Company or its transfer agent evidencing
the issuance to Subscriber of the Subscribed Shares on and as of the Closing Date. In the event that the Closing Date does not
occur within two (2) Business Days after the anticipated Closing Date specified in the Closing Notice, the Company shall promptly
(but not later than two (2) Business Days after the anticipated Closing Date specified in the Closing Notice) return the funds
so delivered by Subscriber to the Company by wire transfer in immediately available funds to the account specified by Subscriber.
For the purposes of this Subscription Agreement, “Business Day” means any day other than a Saturday, Sunday
or a day on which the Federal Reserve Bank of New York is closed.

 

c. The
Closing shall be subject to the satisfaction or valid waiver by the Company, on the one hand, and the Subscriber, on the other,
of the conditions that, on the Closing Date:

 

(i) all
conditions precedent to the closing of the Transaction set forth in the Merger Agreement, including the approval of the Company’s
shareholders, shall have been satisfied or waived and the closing of the Transaction shall be scheduled to occur concurrently with
or immediately following the Closing; and

 

(ii) no
governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation
(whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions
contemplated hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated hereby (except
in the case of a governmental authority located outside the United States where such judgment, order, law, rule or regulation would
not be reasonably expected to have a Company Material Adverse Effect (as defined below)); and no such governmental authority shall
have instituted or threatened in writing a proceeding seeking to impose any such restraint or prohibition (except in the case of
a governmental authority located outside the United States where such restraint or prohibition would not be reasonably expected
to have a Company Material Adverse Effect).

 

    	 	2	 

     

    

 

d. The
obligation of the Company to consummate the Closing shall be subject to the satisfaction or valid waiver by the Company of the
additional conditions that, on the Closing Date:

 

(i) all
representations and warranties of Subscriber contained in this Subscription Agreement shall be true and correct in all material
respects (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect
(as defined below), which representations and warranties shall be true in all respects) at and as of the Closing Date (except to
the extent expressly made as of an earlier date, in which case only as of such date); and

 

(ii) Subscriber
shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by
this Subscription Agreement to be performed, satisfied or complied with by Subscriber at or prior to the Closing.

 

e. The
obligation of Subscriber to consummate the Closing shall be subject to the satisfaction or valid waiver by Subscriber of the additional
conditions that, on the Closing Date:

 

(i) all
representations and warranties of the Company contained in this Subscription Agreement shall be true and correct in all material
respects (other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect (as
defined below), which representations and warranties shall be true in all respects) at and as of the Closing Date (except to the
extent expressly made as of an earlier date, in which case only as of such date);

 

(ii) the
Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required
by this Subscription Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing;

 

(iii) the
terms of the Merger Agreement shall not have been amended in a manner that is materially adverse to the Subscriber as a shareholder
of the Company; and

 

(iv) there
shall have been no amendment, waiver or modification to the Other Subscription Agreements that materially economically benefits
the Other Subscribers thereunder unless the Subscribers have been offered substantially the same benefits.

 

f. Prior
to or at the Closing, Subscriber shall deliver to the Company a duly completed and executed Internal Revenue Service Form W-9 or
appropriate Form W-8.

 

    	 	3	 

     

    

 

3. Further
Assurances.  At the Closing, the parties hereto shall execute and deliver such additional documents and take
such additional actions as the parties reasonably may deem to be practical and necessary to consummate the subscription as
contemplated by this Subscription Agreement.

 

4. Company
Representations and Warranties.    The Company represents and warrants to Subscriber that:

 

a. The
Company (i) is duly organized, validly existing and in good standing under the laws of the State of Delaware, (ii) has the requisite
power and authority to own, lease and operate its properties, to carry on its business as it is now being conducted and to enter
into and perform its obligations under this Subscription Agreement and (iii) is duly licensed or qualified to conduct its business
and, if applicable, is in good standing under the laws of each jurisdiction (other than its jurisdiction of incorporation) in which
the conduct of its business or the ownership of its properties or assets requires such license or qualification, except, with respect
to the foregoing clauses (ii) and (iii), where the failure to be in good standing would not be reasonably expected to have a Company
Material Adverse Effect. For purposes of this Subscription Agreement, a “Company Material Adverse Effect” means
an event, change, development, occurrence, condition or effect with respect to the Company and its subsidiaries, taken together
as a whole (on a consolidated basis), that, individually or in the aggregate, would reasonably be expected to have a material adverse
effect on (i) the business, financial condition or results of operations of the Company and its subsidiaries, taken together as
a whole (on a consolidated basis) or (ii) the Company’s ability to consummate the transactions contemplated hereby, including
the issuance and sale of the Subscribed Shares.

 

b. The
Subscribed Shares have been duly authorized and, when issued and delivered to Subscriber against full payment therefor 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 any preemptive rights created under the Company’s organizational documents or the laws of its jurisdiction
of incorporation.

 

c. This
Subscription Agreement has been duly executed and delivered by the Company, and assuming the due authorization, execution and delivery
of the same by Subscriber, this Subscription Agreement shall constitute the valid and legally binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies.

 

    	 	4	 

     

    

 

d. The
execution and delivery of this Subscription Agreement, the issuance and sale of the Subscribed Shares and the compliance by the
Company with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein
will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under,
or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company pursuant
to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument
to which the Company is a party or by which the Company is bound or to which any of the property or assets of the Company is subject;
(ii) the organizational documents of the Company; or (iii) any statute or any judgment, order, rule or regulation of
any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company or any of its properties that,
in the case of clauses (i) and (iii), would reasonably be expected to have a Company Material Adverse Effect. 

 

e. Assuming
the accuracy of the representations and warranties of the Subscriber, the Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local
or other governmental authority, self-regulatory organization (including The Nasdaq Stock Market (“Nasdaq”))
or other person in connection with the execution, delivery and performance of this Subscription Agreement (including, without limitation,
the issuance of the Subscribed Shares), other than (i) filings required by applicable state securities laws, (ii) the
filing of the Registration Statement pursuant to Section 6 below, (iii) the filing of a Notice of Exempt Offering of Securities
on Form D with the United States Securities and Exchange Commission (the “SEC”) under Regulation D
of the Securities Act of 1933, as amended (the “Securities Act”), (iv) those required by Nasdaq, including
with respect to obtaining shareholder approval, (v) those required to consummate the Transaction as provided under the Merger Agreement,
(vi) the filing of notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, if applicable, and (vii) the
failure of which to obtain would not be reasonably likely to have a Company Material Adverse Effect.

 

f. As
of their respective dates, all reports required to be filed by the Company with the SEC (the “SEC Reports”)
complied in all material respects with the requirements of the Securities Act and the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports,
when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The
financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements
and the rules and regulations of the SEC with respect thereto as in effect at the time of filing and fairly present in all material
respects the financial position of the Company as of and for the dates thereof and the results of operations and cash flows for
the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. There are no material
outstanding or unresolved comments in comment letters from the staff of the Division of Corporation Finance of the SEC with respect
to any report, statement, schedule, prospectus or registration statement filed by the Company with the SEC.

 

    	 	5	 

     

    

 

g. As
of the date hereof, the authorized share capital of the Company consists of 100,000,000 Class A Shares, 10,000,000 shares of
Class B common stock, par value $0.0001 per share (“Class B Shares” and together with the Class A Shares,
“Common Stock”) and 1,000,000 preferred shares, par value $0.0001 per share (“Preferred
Shares”). As of the Closing Date (and immediately after the consummation of the Transaction), the authorized share
capital of the Company will consist of 300,000,000 Class A Shares and 12,000,000 shares of Preferred Shares. As of the date
hereof: (i) 28,000,000 Class A Shares, 7,000,000 Class B Shares and no Preferred Shares were issued and
outstanding; (ii) 9,333,333 public warrants and 5,066,667 private placement warrants (collectively, the
“Warrants”), each exercisable to purchase one Class A Share at $11.50 per share, were issued and
outstanding; and (iii) no Common Stock was subject to issuance upon exercise of outstanding options. No Warrants are
exercisable on or prior to the Closing. All (i) issued and outstanding Common Stock has been duly authorized and validly
issued, is fully paid and non-assessable and is not subject to preemptive rights and (ii) outstanding Warrants have been
duly authorized and validly issued, are fully paid and are not subject to preemptive rights. As of the date hereof, except as
set forth above and pursuant to (i) the Other Subscription Agreements, and (ii) the Merger Agreement, there are no
outstanding options, warrants or other rights to subscribe for, purchase or acquire from the Company any Common Stock or
other equity interests in the Company (collectively, “Equity Interests”) or securities convertible into or
exchangeable or exercisable for Equity Interests. Other than Merger Sub, as of the date hereof, the Company has no
subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person,
whether incorporated or unincorporated.

 

h. Except
for such matters as have not had and would not be reasonably likely to have a Company Material Adverse Effect, there is no (i) suit,
action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of the Company, threatened
in writing against the Company or (ii) judgment, decree, injunction, ruling or order of any governmental authority or arbitrator
outstanding against the Company.

 

i. The
issued and outstanding Class A Shares as of the date of this Agreement are registered pursuant to Section 12(b) of the Exchange
Act, and are listed for trading on Nasdaq under the symbol “DPHC.” There is no suit, action, proceeding or investigation
pending or, to the knowledge of the Company, threatened against the Company by Nasdaq or the SEC to deregister the Class A Shares
or prohibit or terminate the listing of the Class A Shares on Nasdaq. The Company has taken no action that is designed to terminate
the registration of the Class A Shares under the Exchange Act.

 

j. Assuming
the accuracy of Subscriber’s representations and warranties set forth in Section 5 of this Subscription Agreement,
no registration under the Securities Act is required for the offer and sale of the Subscribed Shares by the Company to Subscriber.

 

k. The
Company has not received any written communication, from a governmental authority that alleges that the Company is not in compliance
with or is in default or violation of any applicable antitrust or anticorruption law, except where such non-compliance, default
or violation would not be reasonably expected to have a Company Material Adverse Effect.

 

    	 	6	 

     

    

 

l. Except
for the Placement Agent, no broker or finder is entitled to any brokerage or finder’s fee or commission solely in connection
with the sale of the Subscribed Shares by the Company to Subscriber.

 

m. The
Company has not entered into any side letter or similar agreement with any Other Subscriber or any other investor in connection
with such Other Subscriber’s or other investor’s direct or indirect investment in the Company other than (i) the Merger
Agreement, (ii) the Other Subscription Agreement, and (iii) certain agreements with affiliates of General Motors Company (the “GM
Agreements”). No Other Subscription Agreement contains terms (economic or otherwise) more favorable to such Other Subscriber
or investor than as set forth in this Subscription Agreement. The terms of the GM Agreements do not vary the terms of the Other
Subscription Agreement entered into by [GM EV Holdings LLC] (being the only affiliate of General Motors Company that has entered
into an Other Subscription Agreement) and a true and accurate copy of such Other Subscription Agreement has been made available
to Subscriber.

 

5. Subscriber
Representations and Warranties. Subscriber represents and warrants to the Company that:

 

a. Subscriber
(i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of [incorporation][organization]1,
and (ii) has the requisite power and authority to enter into and perform its obligations under this Subscription Agreement.

 

b. This
Subscription Agreement has been duly executed and delivered by Subscriber, and assuming the due authorization, execution and delivery
of the same by the Company, this Subscription Agreement shall constitute the valid and legally binding obligation of Subscriber,
enforceable against Subscriber in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies.

 

c. The
execution and delivery of this Subscription Agreement, the purchase of the Subscribed Shares and the compliance by Subscriber
with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will
not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or
result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of Subscriber
pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement
or instrument to which Subscriber is a party or by which Subscriber is bound or to which any of the property or assets of
Subscriber is subject; (ii) the organizational documents of Subscriber; or (iii) any statute or any judgment,
order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over
Subscriber or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a
Subscriber Material Adverse Effect. For purposes of this Subscription Agreement, a “Subscriber Material Adverse
Effect” means an event, change, development, occurrence, condition or effect with respect to Subscriber that would
reasonably be expected to have a material adverse effect on Subscriber’s ability to consummate the transactions
contemplated hereby, including the purchase of the Subscribed Shares.

 

 

		1	Note to Draft: Organization will be used for one
foreign investor.

 

    	 	7	 

     

    

 

d. Subscriber
(i) is an “institutional account” as defined in FINRA Rule 4512(c); (ii) is an institutional “accredited
investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements set forth
on Annex A, (iii) is acquiring the Subscribed Shares only for its own account and not for the account of others,
or if Subscriber is subscribing for the Subscribed Shares as a fiduciary or agent for one or more investor accounts, each owner
of such account is a “qualified institutional buyer” (within the meaning of Rule 501(a) under the Securities Act)
and Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements,
representations and agreements herein on behalf of each owner of each such account, and (iv) is not acquiring the Subscribed
Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and
has provided the Company with the requested information on Annex A following the signature page hereto). Subscriber
is not an entity formed for the specific purpose of acquiring the Subscribed Shares.

 

e. Subscriber
understands that the Subscribed Shares are being offered in a transaction not involving any public offering within the meaning
of the Securities Act and that the Subscribed Shares have not been registered under the Securities Act or any state securities
law in reliance on the availability of an exemption from such registration. Subscriber understands that the Subscribed Shares may
not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement under the
Securities Act, except (i) to the Company or a subsidiary thereof, or (ii) pursuant to an applicable exemption from the
registration requirements of the Securities Act, and, in each of cases (i) and (ii), in accordance with any applicable securities
laws of the states and other jurisdictions of the United States.

 

f.
Subscriber understands and agrees that Subscriber is purchasing the Subscribed Shares directly from the Company. Subscriber
acknowledges that there have not been any representations, warranties, covenants or agreements made to Subscriber by the
Company, any other party to the Transaction or any other person or entity, including the Placement Agent (as defined below),
expressly or by implication, other than those representations, warranties, covenants and agreements of the Company expressly
set forth in this Subscription Agreement, and the Subscriber expressly disclaims any representations, warranties, covenants
or agreements not expressly set forth in this Subscription Agreement. In particular, without limiting the foregoing,
Subscriber acknowledges that certain information provided by the Company was based on projections, forecasts, estimates,
budgets or other prospective information, and such information is 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, and neither the Company nor any
other person, including the Placement Agent, makes any representation relating to any such information.

 

    	 	8	 

     

    

 

g. In
making its decision to purchase the Subscribed Shares, Subscriber has relied solely upon independent investigation made by Subscriber.
Subscriber acknowledges and agrees that Subscriber has received such information as Subscriber deems necessary to make an investment
decision with respect to the Subscribed Shares, including with respect to the Company and the Transaction (including Lordstown
and its subsidiaries (collectively, the “Acquired Companies”)). Subscriber represents and agrees that Subscriber
and Subscriber’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers
and obtain such information as Subscriber and such undersigned’s professional advisor(s), if any, have deemed necessary to
make an investment decision with respect to the Subscribed Shares. Subscriber further acknowledges and agrees that none of Goldman
Sachs & Co. LLC, its affiliates or any of its or their control persons, officers, directors and employees, (the “Placement
Agent”), has provided Subscriber with any information or advice with respect to the Subscribed Shares nor is such information
or advice necessary or desired. The Placement Agent has not made nor makes any representation as to the Company or the Acquired
Companies or the quality or value of the Subscribed Shares and the Placement Agent may have acquired non-public information with
respect to the Company or the Acquired Companies which Subscriber agrees need not be provided to it. In connection with the issuance
of the Subscribed Shares to Subscriber, the Placement Agent has not acted as a financial advisor or fiduciary to Subscriber. For
the avoidance of the doubt, Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation
or warranty made by the Placement Agent in making its investment or decision to invest in the Company.

 

h. Subscriber
became aware of this offering of the Subscribed Shares solely by means of direct contact between Subscriber and the Company or
by means of contact from the Placement Agent and the Subscribed Shares were offered to Subscriber solely by direct contact between
Subscriber and the Company or the Placement Agent. Subscriber did not become aware of this offering of the Subscribed Shares, nor
were the Subscribed Shares offered to Subscriber, by any other means. Subscriber acknowledges that the Company represents and warrants
that the Subscribed Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are
not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any
state securities laws.

 

    	 	9	 

     

    

 

i.
Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the
Subscribed Shares. Subscriber is a sophisticated institutional investor and has such knowledge and experience in financial
and business matters, and in investing in private placement securities, as to be capable of evaluating the merits and risks
of an investment in the Subscribed Shares. At the time of making its investment decision, Subscriber has had access to such
financial and other information concerning the Company and its subsidiaries as Subscriber deemed necessary or desirable in
making a decision to purchase the Subscribed Shares, including an opportunity to ask questions and receive answers from
officers of the Company and to obtain additional information necessary to verify the accuracy of any information furnished to
such Subscriber or to which such Subscriber had access. Such Subscriber has independently made its own analysis and decision
to purchase the Subscribed Shares and determined based on its own independent review, and such professional advice from its
own advisors (including as to tax, legal and accounting matters) as Subscriber may deem appropriate, that its purchase of the
Subscribed Shares (i) is consistent with such Subscriber’s financial needs, objectives and condition, (ii) complies
with all investment policies, guidelines and other restrictions that are applicable to such Subscriber, (iii) does not and
will not violate any law, rule, regulation, agreement or other obligation to which such Subscriber is bound (assuming the
accuracy of the Company’s representations and warranties contained herein), and (iv) is a fit, proper and suitable
investment for Subscriber, notwithstanding the risks associated with a purchase of the Subscribed Shares.

 

j. Subscriber
has adequately analyzed and fully considered the risks of an investment in the Subscribed Shares and determined that the Subscribed
Shares are a suitable investment for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear
the economic risk of a total loss of Subscriber’s investment in the Company. Subscriber acknowledges specifically that a
possibility of total loss exists.

 

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

 

l. 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 (“OFAC List”), or a person or entity prohibited
by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515,
or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited
Investor”). Subscriber agrees to provide law enforcement agencies, if requested thereby, such records as required by
applicable law, provided that Subscriber is permitted to do so under applicable law. Subscriber represents that if it is
a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act
of 2001 and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that Subscriber maintains policies
and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. Subscriber also represents
that, to the extent required, it maintains policies and procedures reasonably designed to ensure compliance with applicable OFAC
sanctions programs, including the OFAC List. Subscriber further represents and warrants that, to the extent required, it maintains
policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Subscribed Shares
were legally derived.

 

    	 	10	 

     

    

 

m. As
of the date hereof Subscriber does not have, and during the thirty (30) day period immediately prior to the date hereof such Subscriber
has not entered into, any “put equivalent position” as such term is defined in Rule 16a-1 under the Exchange Act or
short sale positions with respect to the securities of the Company.

 

n. If
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 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 Internal Revenue Code of 1986, as amended, 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, Subscriber represents and warrants that neither the Company, 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 Subscribed 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 Subscribed Shares.

 

o. Subscriber
at the Closing will have sufficient funds to pay the Purchase Price pursuant to Section 2(b).

 

p. Subscriber
agrees that, notwithstanding Section 9(i), the Placement Agent may rely upon the representations and warranties made by
Subscriber to the Company in this Subscription Agreement.

 

q. Without
limitation of the foregoing, Subscriber hereby further acknowledges and agrees that (i) the Placement Agent is acting solely as
placement agent in connection with the transactions contemplated hereby and is not acting as an underwriter, initial purchaser,
dealer or in any other such capacity and is not and shall not be construed as a fiduciary for Subscriber, the Company or any other
person or entity in connection with the transactions contemplated hereby (ii) the Placement Agent has 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 transactions contemplated hereby, and (iii) the Placement Agent will have no responsibility with respect
to (A) any representations, warranties or agreements made by any person or entity under or in connection with the transactions
contemplated hereby or any of the documents furnished pursuant thereto or in connection therewith, or the execution, legality,
validity or enforceability (with respect to any person) of any thereof, or (B) the financial condition, business, or any other
matter concerning the Company or the transactions contemplated hereby.

 

    	 	11	 

     

    

 

6. Registration
of Subscribed Shares.

 

a. In
the event that the Subscribed Shares are not registered in connection with the consummation of the Transaction, the Company
agrees that, within forty-five (45) calendar days after the Closing Date (the “Filing Deadline”), the
Company will file with the SEC (at the Company’s sole cost and expense) a registration statement (the
“Registration Statement”) registering the resale of the Subscribed Shares, and the Company shall use its
commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing
thereof, but no later than the 60th calendar day (or 90th calendar day if the SEC notifies the Company
that it will “review” the Registration Statement) following the Filing Deadline (such date, the
“Effectiveness Date”); provided, however, that the Company’s obligations to include
the Subscribed Shares in the Registration Statement are contingent upon the undersigned furnishing in writing to the Company
such information regarding the undersigned, the securities of the Company held by the undersigned and the intended method of
disposition of the Subscribed Shares as shall be reasonably requested by the Company to effect the registration of the
Subscribed Shares, and shall execute such documents in connection with such registration as the Company may reasonably
request that are customary of a selling stockholder in similar situations. In no event shall the Subscriber be identified as
a statutory underwriter in the Registration Statement unless in response to a comment or request from the ‎staff of the
SEC or another regulatory agency; provided, that if the SEC requests that the Subscriber be identified as a statutory
underwriter in the Registration Statement, the Subscriber will have an opportunity to withdraw from the Registration
Statement. The Company will use its commercially reasonable efforts to maintain the continuous effectiveness of the
Registration Statement until the earliest of (i) the date on which the Subscribed Shares may be resold without volume or
manner of sale limitations pursuant to Rule 144 promulgated under the Securities Act and without the requirement for the
Company to be in compliance with the current public information required under Rule 144(c)(2) (or Rule 144(i)(2), if
applicable), (ii) the date on which such Subscribed Shares have actually been sold and (iii) the date which is two (2) years
after the Closing. For as long as the Registration Statement is required to be effective pursuant to this Section 6(a), the
Company will use commercially reasonable efforts to (1) qualify the Subscribed Shares for listing on the Nasdaq or such other
stock exchange upon which the Subscribed Shares are then eligible for listing, and (2) update or amend the Registration
Statement as necessary to include the Subscribed Shares. For as long as the Subscriber holds at least one hundred thousand
(100,000) Subscribed Shares, the Company will use commercially reasonable efforts to (A) make and keep public information
available, as those terms are understood and defined in Rule 144, (B) file in a timely manner all reports and other documents
with the SEC required under the Exchange Act, as long as the Company remains subject to such requirements, and (C) provide
all customary and reasonable cooperation necessary, in each case as required to enable the undersigned to resell the
Subscribed Shares pursuant to Rule 144 of the Securities Act. For purposes of clarification, any failure by the Company to
file the Registration Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Date
shall not otherwise relieve the Company of its obligations to file or effect the Registration Statement set forth in this Section
6.

 

    	 	12	 

     

    

 

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

 

    	 	13	 

     

    

 

c. The
Company shall indemnify and hold harmless each Subscriber (to the extent a seller under the Registration Statement), its
officers, directors and agents, and each person who controls such Subscriber (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) to the fullest extent permitted by applicable law, from and against
any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and
expenses (collectively, “Losses”), as incurred, that arise out of or are based upon any untrue or alleged
untrue statement of a material fact contained in the Registration Statement (or incorporated by reference therein), any
prospectus included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in
any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact
required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of
prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, except to the
extent, that such untrue statements or alleged untrue statements, omissions or alleged omissions are based upon information
regarding Subscriber furnished in writing to the Company by Subscriber expressly for use therein or Subscriber has omitted a
material fact from such information or otherwise violated the Securities Act, Exchange Act or any state securities law or any
rule or regulation thereunder.

 

d. The
Subscriber shall indemnify and hold harmless the Company, its directors, officers, agents and employees, and each person who controls
the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), to the fullest
extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue or alleged
untrue statement of a material fact contained in any Registration Statement, any prospectus included in the Registration Statement,
or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating
to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
(in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they
were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based upon information
regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein. In no event shall the
liability of any Subscriber be greater in amount than the dollar amount of the net proceeds received by such Subscriber upon the
sale of the Subscribed Shares giving rise to such indemnification obligation. Each Subscriber shall notify the Company promptly
of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this
Section 6 of which such Subscriber is aware.

 

    	 	14	 

     

    

 

7. Termination. This
Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the
parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the
earliest to occur of (a) such date and time as the Merger Agreement is terminated in accordance with its terms,
(b) upon the mutual written agreement of the Company and the Subscriber to terminate this Subscription Agreement,
(c) if, on the Closing Date, any of the conditions to Closing set forth in Section 2 of this Subscription
Agreement have not been satisfied as of the time required hereunder to be so satisfied or waived by the party entitled to
grant such waiver and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated
and (d) if the consummation of the
Transaction shall not have occurred by April 1, 2021; provided, that nothing herein will relieve any party
from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any
remedies at law or in equity to recover losses, liabilities or damages arising from such breach. The Company shall notify
Subscriber of the termination of the Merger Agreement promptly after the termination thereof.

 

8. Trust
Account Waiver. Subscriber hereby acknowledges that the Company has established a trust account (the “Trust Account”)
containing the proceeds of its initial public offering (the “IPO”) and from certain private placements occurring
simultaneously with the IPO (including interest accrued from time to time thereon) for the benefit of the Company’s public
shareholders and certain other parties (including the underwriters of the IPO). For and in consideration of the Company entering
into this Subscription Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Subscriber hereby (i) agrees that it does not now and shall not at any time hereafter have any right, title, interest
or claim of any kind in or to any assets held in the Trust Account, and shall not make any claim against the Trust Account, regardless
of whether 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 the Company, and (iii) will not seek recourse against the Trust Account for any reason whatsoever;
provided however, that nothing in this Section 8 shall be deemed to limit any Subscriber’s right to distributions
from the Trust Account in accordance with the Company’s amended and restated certificate of incorporation in respect of Common
Stock of the Company acquired by any means other than pursuant to this Subscription Agreement.

 

9. Miscellaneous.

 

a. All
notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request, demand, claim or
other communication hereunder shall be deemed duly given (i) when delivered personally to the recipient, (ii) when sent by electronic
mail, on the date of transmission to such recipient; provided, that such notice, request, demand, claim or other communication
is also sent to the recipient pursuant to clauses (i), (iii) or (iv) of this Section 9(a), (iii) one (1) Business Day after
being sent to the recipient by reputable overnight courier service (charges prepaid), or (iv) four (4) Business Days after being
mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid, and, in each case, addressed
to the intended recipient at its address specified on the signature page hereof or to such electronic mail address or address as
subsequently modified by written notice given in accordance with this Section 9(a).

 

    	 	15	 

     

    

 

b.
Subscriber acknowledges that the Company and the Placement Agent will rely on the acknowledgments, understandings,
agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees
to promptly notify the Company if it becomes aware that any of the acknowledgments, understandings, agreements,
representations and warranties of Subscriber set forth herein are no longer accurate in all material respects. The Company
acknowledges that Subscriber and others will rely on the acknowledgments, understandings, agreements, representations and
warranties contained in this Subscription Agreement. Prior to the Closing, the Company agrees to promptly notify Subscriber
if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of the
Company set forth herein are no longer accurate in all material respects.

 

c. Each
of the Company and Subscriber is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested
party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.

 

d. Subscriber
shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein.

 

e. Neither
this Subscription Agreement nor any rights that may accrue to Subscriber hereunder (other than the Subscribed Shares acquired hereunder,
if any) may be transferred or assigned. Neither this Subscription Agreement nor any rights that may accrue to the Company hereunder
may be transferred or assigned (provided, that, for the avoidance of doubt, the Company may transfer the Subscription Agreement
and its rights hereunder in connection with the Transaction). Notwithstanding the foregoing, Subscriber may assign its rights and
obligations under this Subscription Agreement to one or more of its affiliates or another person acceptable to the Company, provided that
no such assignment shall relieve Subscriber of its obligations hereunder if any such affiliate fails to perform such obligations.

 

f. All
the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the Closing.

 

g. The
Company may request from Subscriber such additional information as the Company may deem reasonably necessary to evaluate the eligibility
of Subscriber to acquire the Subscribed Shares, and Subscriber shall provide such information as may be reasonably requested, to
the extent readily available and to the extent consistent with its internal policies and procedures.

 

h. This
Subscription Agreement may not be amended, modified, waived or terminated except by an instrument in writing, signed by the party
against whom enforcement of such amendment, modification, waiver or termination is sought.

 

i. This
Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations
and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except as provided in Section
6(c), Section 6(d) or Section 9(m) hereof, this Subscription Agreement shall not confer any rights or remedies
upon any person other than the parties hereto and their respective permitted successors and assigns.

 

    	 	16	 

     

    

 

j. 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.

 

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

 

l. This
Subscription Agreement may be executed and delivered in one or more counterparts (including by facsimile or electronic mail or
in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document.
All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement.

 

m. This
Subscription Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns
and is not for the benefit of, nor may any provision hereof be enforced by, any other person; provided, however,
that the Placement Agent shall be an intended third party beneficiary of the representations and warranties of the Company in Section
4 hereof and of the Subscribers in Section 5 hereof.

 

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

 

o. This
Subscription Agreement and all disputes, legal actions, suits and proceedings arising out of or relating to this Subscription Agreement
shall be governed by, and construed in accordance with, the laws of the State of Delaware, including its statutes of limitations,
without giving effect to the principles of conflicts of laws that would otherwise require the application of the law of any other
jurisdiction.

 

    	 	17	 

     

    

 

p. EACH
PARTY HEREBY WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OR
RELATED TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION
OF ANY TYPE BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY OR ANY AFFILIATE OF ANY OTHER SUCH PARTY, WHETHER WITH RESPECT TO
CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. THE PARTIES AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT
TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY
JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN
PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS SUBSCRIPTION AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL
APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS SUBSCRIPTION AGREEMENT.

 

q. The
parties agree that all disputes, legal actions, suits and proceedings arising out of or relating to this Subscription Agreement
must be brought exclusively in the Court of Chancery of the State of Delaware and any state appellate court therefrom within the
State of Delaware (or, if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular matter,
any federal court within the State of Delaware or, in the event each federal court within the State of Delaware declines to accept
jurisdiction over a particular matter, any state court within the State of Delaware) (collectively, the “Designated Courts”).
Each party hereby consents and submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit or proceeding
with respect to this Subscription Agreement may be brought in any other forum. Each party hereby irrevocably waives all claims
of immunity from jurisdiction and any objection which such party may now or hereafter have to the laying of venue of any suit,
action or proceeding in any Designated Court, including any right to object on the basis that any dispute, action, suit or proceeding
brought in the Designated Courts has been brought in an improper or inconvenient forum or venue. Each of the parties also agrees
that delivery of any process, summons, notice or document to a party hereof in compliance with Section 9(a) of this Subscription
Agreement shall be effective service of process for any action, suit or proceeding in a Designated Court with respect to any matters
to which the parties have submitted to jurisdiction as set forth above.

 

r. This
Subscription Agreement may only be enforced against, and any claim, action, suit or other legal proceeding based upon, arising
out of, or related to this Subscription Agreement, or the negotiation, execution or performance of this Subscription Agreement,
may only be brought against the entities that are expressly named as parties hereto and then only with respect to the specific
obligations set forth herein with respect to such party. No past, present or future director, officer, employee, incorporator,
manager, member, partner, stockholder, affiliate, agent, attorney or other representative of any party hereto or of any affiliate
of any party hereto, or any of their successors or permitted assigns, shall have any liability for any obligations or liabilities
of any party hereto under this Subscription Agreement or for any claim, action, suit or other legal proceeding based on, in respect
of or by reason of the transactions contemplated hereby.

 

    	 	18	 

     

    

 

s.
Each party hereto agrees that the Subscriber’s identity and the Subscription, as well as nature of the
Subscriber’s obligations hereunder, may be disclosed in public announcements and disclosures required by the SEC,
including in any registration statements, proxy statements, consent solicitation statements and other SEC filings to be filed
by the Company in connection with the Subscription and/or Transaction; provided that such disclosure is limited to the
extent required to comply with law, rules or regulations, in response to a comment or request from the ‎staff of the
SEC or another regulatory agency or under Nasdaq regulations; provided further that, to the extent permitted by the
foregoing, Subscriber shall have an opportunity to review all disclosures in which it is named prior to filing or public
release. In all other cases, the Company acknowledges and agrees that the Company will not, and will cause its
representatives, including the Placement Agent and its respective representatives, not to publicly make reference to the
Subscriber or any of its affiliates in connection with the Transaction or this Subscription Agreement, including in a press
release or marketing materials of the Company or for any similar or related purpose (provided that the undersigned may
disclose its entry into this Subscription Agreement and the Purchase Price) without the prior written consent of the
Subscriber.

 

t. The
Company shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date of this Subscription
Agreement, issue one or more press releases or file with the SEC a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing, to the extent not previously publicly disclosed, all material terms of the transactions contemplated
hereby and the Other Subscription Agreements, the Transaction, and any other material, nonpublic information that the Company has
provided to Subscriber at any time prior to the filing of the Disclosure Document. From and after the issuance of the Disclosure
Document, to the Company’s knowledge, Subscriber shall not be in possession of any material, non-public information received
from the Company or any of its officers, directors or employees or the Placement Agent.

 

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

 

[Signature pages
follow.]

 

    	 	19	 

     

    

 

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

 

	 	DIAMONDPEAK HOLDINGS CORP.

 

	 	By: 	 
	 		Name:
	 		Title:

 

	 	Address for Notices:
	 	 
		40 W 57th Street, 29th Floor
		New York, NY 10019

    	 	 	 

     

    

  

	 	SUBSCRIBER:

 

	 	Print Name: 	 

 

	 	By: 	 
	 		Name:
	 		Title:

 

	 	Address for Notices:
	 	 
	 	 
	 	 
		Name in which shares are to be registered:
	 	 
	 	 

 

	Number of Subscribed Shares subscribed for:	_____________________
	 	 
	Price Per Subscribed Share:	$[•]
	 	 
	Aggregate Purchase Price:	$____________________

 

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

 

    	 	 	 

     

    

 

ANNEX A

 

ELIGIBILITY
REPRESENTATIONS OF SUBSCRIBER 

 

This Annex A should
be completed and signed by Subscriber

and constitutes a part of the Subscription Agreement.

 

	A.	INSTITUTIONAL ACCREDITED INVESTOR STATUS (Please check the box)

 

		☐	Subscriber
is an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity
in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act, and has
marked and initialed the appropriate box on the following page indicating the provision under which it qualifies as an “accredited
investor.”

 

	B.	AFFILIATE STATUS
	 	(Please check the applicable box)

 

	 	SUBSCRIBER:

 

		☐	is:

 

		☐	is
not:

 

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

 

    	 	A-1 	 

     

    

 

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

 

		☐	Any bank, registered broker or dealer, insurance company, registered investment company, business
development company, or small business investment company; 

 

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

 

		☐	Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of
1974, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets
in excess of $5,000,000; 

 

		☐	a corporation, similar business trust, partnership or any organization described in Section 501(c)(3)
of the Internal Revenue Code, not formed for the specific purpose of acquiring the securities offered, with total assets in excess
of $5,000,000; 

 

		☐	Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose
purchase is directed by a sophisticated person; or 

 

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

 

[Specify
which tests:                               ]

 

Any
director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive
officer, or general partner of a general partner of that issuer; 

 

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

 

    	 	A-2 	 

     

    

 

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

 

	
        
	SUBSCRIBER:
	 	 
		Print Name:

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

A-3EX-4.13.1

 Exhibit 4.13.1 

Execution Version 
  

 
 SUNNOVA ENERGY INTERNATIONAL INC. 

AND 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Trustee 

FIRST SUPPLEMENTAL INDENTURE 

Dated as of July 31, 2020 
  

 

 Cross Reference Table* 

 

					
	Trust Indenture Act Section	  	 	  	Indenture Section
	310	  	(a)(1)	  	4.06, 7.08
		  	(a)(2)	  	7.08
		  	(a)(3)	  	N/A
		  	(a)(4)	  	N/A
		  	(a)(5)	  	7.08
		  	(b)	  	7.08, 7.09(b)
		  	(c)	  	N/A
	311	  	(a)	  	7.13
		  	(b)	  	7.13
		  	(c)	  	N/A
	312	  	(a)	  	5.01, 5.02, 5.03
		  	(b)	  	17.18
		  	(c)	  	17.18
	313	  	(a)	  	5.03
		  	(b)(1)	  	5.03
		  	(b)(2)	  	5.03
		  	(c)	  	5.03,17.03
		  	(d)	  	5.03
	314	  	(a)	  	4.05
		  	(b)	  	N/A
		  	(c)(1)	  	17.05
		  	(c)(2)	  	17.05
		  	(c)(3)	  	N/A
		  	(d)	  	N/A
		  	(e)	  	17.05
		  	(f)	  	N/A
	315	  	(a)	  	7.01
		  	(b)	  	6.10
		  	(c)	  	7.01
		  	(d)	  	7.01
		  	(e)	  	6.11
	316	  	(a)(1)(A)	  	6.09
		  	(a)(1)(B)	  	6.09
		  	(a)(2)	  	N/A
		  	(b)	  	6.06
		  	(c)	  	8.01
	317	  	(a)(1)	  	6.04
		  	(a)(2)	  	6.04
		  	(b)	  	4.04(a)
	318	  	(a)	  	17.17

 N/A means not applicable 
  

	*	 This Cross-Reference Table is not part of the Supplemental Indenture. 

 Execution Version 

SUNNOVA ENERGY INTERNATIONAL INC. 

FIRST SUPPLEMENTAL INDENTURE 

THIS FIRST SUPPLEMENTAL INDENTURE, dated as of July 31, 2020 (the “First Supplemental Indenture”), between Sunnova Energy
International Inc., a Delaware corporation (the “Company”), and Wilmington Trust, National Association, as trustee (the “Trustee”). 

W I T N E S S E T H : 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of May 14, 2020, providing for the
issuance of its 9.75% Convertible Senior Notes due 2025; 
 WHEREAS, Article 10 of the Indenture provide that the Company and the
Trustee may from time to time enter into one or more indentures supplemental thereto; 
 WHEREAS, Section 10.01(n)
of the Indenture permits the execution of supplemental indentures without the consent of any Holders, including to comply with the requirements of the Commission in order to effect the qualification of the Indenture under the Trust Indenture Act;

 WHEREAS, the Company desires to supplement the Indenture in order to effect the qualification of the Indenture under the Trust Indenture
Act; 
 WHEREAS, the Company, has requested that the Trustee join with the Company in the execution of this Supplemental Indenture and has
delivered the Officers’ Certificate and Opinion of Counsel required by Sections 10.05 and 17.05 of the Indenture; and 

WHEREAS, all things necessary have been done to this First Supplemental Indenture a valid agreement of the Company, in accordance with its
terms. 
 NOW THEREFORE: 
 In
consideration of the premises provided for herein, the Company and the Trustee mutually covenant and agree as follows: 
 ARTICLE I

 AMENDMENTS TO THE INDENTURE 

The amendments contained herein shall apply to the Notes issued under the Indenture, and any covenants provided herein are expressly being
included solely for the benefit of the Notes. 

 Section 1.1 Particular Covenants of the Company. Section 4.06 of the
Indenture is amended by inserting the following subsection immediately following subsection (c) thereof: 
 (d) The Company shall also
comply with the other provisions of TIA Section 314(a). 
 Section 1.2 Lists of Holders and Reports by the Company and the Trustee.
Article 5 of the Indenture is amended by inserting the following section immediately following Section 5.02: 

Section 5.03 Reports by Trustee to Holders; Required Reports. 

(a) Within 75 days after each July 31 beginning with July 31, 2021, the Trustee shall mail to each Holder a brief report dated as of
such December 31 that complies with TIA Section 313(a), if required by such Section 313(a). The Trustee also shall comply with TIA Section 313(b). Any reports required by this Section 5.03 shall be transmitted by mail to
Holders pursuant to TIA Section 313(c). 
 (b) In addition to the provisions of this Article Five, both the Company and Trustee, as
applicable, shall otherwise comply with Sections 312(a) and 313(d) of the Trust Indenture Act. 
 Section 1.3 Direction of Proceedings and Waiver
of Defaults by Majority of Holders. Section 6.09 of the Indenture is amended by inserting the following sentence immediately following the last sentence thereof: 

This Section 6.09 shall be in lieu of Sections 316(a)(1)(A) and (B) of the Trust Indenture Act and such Sections 316(a)(1)(A) and
(B) are hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act. 
 Section 1.4 Notice of Defaults.
Section 6.10 of the Indenture is amended by inserting the following sentence immediately following the last sentence thereof: 

The preceding sentence shall be in lieu of the proviso to Section 315(b) of the Trust Indenture Act and such proviso is hereby expressly
excluded from this Indenture, as permitted by the Trust Indenture Act. 
 Section 1.5 Undertaking to Pay Costs.
Section 6.11 of the Indenture is amended by inserting the following sentence immediately following the last sentence thereof: 

This Section 6.11 shall be in lieu of Section 315(e) of the Trust Indenture Act and such Section 315(e) is hereby expressly
excluded from this Indenture, as permitted by the Trust Indenture Act. 
 Section 1.6 Duties and Responsibilities of Trustee.
Section 7.01 is amended by inserting the following subsection immediately following subsection (h) thereof: 

(i) Subsection (a) shall be in lieu of Section 315(a) of the Trust Indenture Act and such Section 315(a) is hereby expressly
excluded from this Indenture, as permitted by the Trust Indenture Act. Subsections (b) through (e) shall be in lieu of Sections 315(d)(1), 315(d)(2) and 315(d)(3) of the Trust Indenture Act and such Sections 315(d)(1), 315(d)(2) and 315(d)(3)
are hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act. 

  
 2 

 Section 1.7 Eligibility of Trustee. Section 7.08 of the
Indenture is amended by inserting the following sentence immediately following the last sentence thereof: 
 This Indenture shall always have
a Trustee who satisfies the requirements of Trust Indenture Act Sections 310(a)(1), (2) and (5). The Trustee is subject to Trust Indenture Act Section 310(b). 

Section 1.8 Concerning the Trustee. Article 7 of the Indenture is amended by inserting the following section immediately following
Section 7.12: 
 Section 7.13 Preferential Collection of Claims Against Company 

The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has
resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 
 Section 1.9 Miscellaneous Provisions.
Article 17 is amended by inserting the following sections immediately following Section 17.16 thereof: 

Section 17.17 Trust Indenture Act Controls 

If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required to be included in this Indenture by
the Trust Indenture Act, the required provision shall control. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under the Trust Indenture Act to be a part of and govern this
Indenture, such provision of the Trust Indenture Act shall control. If any provision hereof modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this
Indenture as such provision of the Trust Indenture Act is so modified or excluded, as the case may be. 
 Section 17.18 Communication
by Holders with Other Holders 
 Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent and anyone else shall have the protection of TIA Section 312(c). 

Section 17.19 Incorporation by Reference of Trust Indenture Act. 

Each provision of the Trust Indenture Act that is required to be part of this Indenture by virtue of its qualification under the Trust
Indenture Act is incorporated by reference in and made a part of this Indenture. All terms used in this Indenture that are defined by the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by Commission rule
under the Trust Indenture Act and not otherwise defined herein are used herein as so defined. None of the provisions of this Indenture to be qualified were inserted pursuant to Sections 310 through 318(a) of the Trust Indenture Act since those
provisions have not required such insertion since the effective date of the Trust Indenture Reform Act of 1990. 

  
 3 

 ARTICLE II 

MISCELLANEOUS PROVISIONS 

Section 2.1 Integral Part. 
 This
First Supplemental Indenture constitutes an integral part of the Indenture. 
 Section 2.2 General Definitions. 

For all purposes of this First Supplemental Indenture: 
  

	 	(D)	 capitalized terms used herein without definition shall have the meanings specified in the Indenture; and

  

	 	(E)	 the terms “herein”, “hereof”, “hereunder” and other words of similar import refer
to this First Supplemental Indenture. 

 Section 2.3 Adoption, Ratification and Confirmation. 

The Indenture, as supplemented and amended by this First Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

 Section 2.4 Counterparts. 
 This
First Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 

Section 2.5 Governing Law. 
 THIS
FIRST SUPPLEMENTAL INDENTURE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL INDENTURE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

Section 2.6 Concerning the Trustee. 

Wilmington Trust, National Association is entering into this First Supplemental Indenture solely in its capacity as Trustee under the Indenture
in reliance on the Officers’ Certificate and Opinion of Counsel delivered to the Trustee in connection herewith. The recitals contained herein shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the
correctness of the same. 
 [Remainder of page intentionally left blank] 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the date first written above. 
  

					
	SUNNOVA ENERGY INTERNATIONAL INC.
		
	By:	 	 /s/ Robert L. Lane

		 	Name:	 	Robert L. Lane
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Barry Somrock

		 	Name:	 	Barry Somrock
		 	Title:	 	Vice President

 [Signature Page to the First Supplemental Indenture]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]