Document:

EX-10.1

 Exhibit 10.1 

ONESPAWORLD HOLDINGS LIMITED 

SUBSCRIPTION AGREEMENT 

This SUBSCRIPTION AGREEMENT is entered into this [●] day of November, 2018 (this “Subscription Agreement”), by and
between OneSpaWorld Holdings Limited, an international business company incorporated under the laws of the Commonwealth of The Bahamas (the “Company”), and the undersigned (“Subscriber”). 

WHEREAS, the Company concurrently herewith is entering into that certain Business Combination Agreement, dated as of the date hereof,
substantially in the form provided to Subscriber (as it may be amended, supplemented or otherwise modified from time to time, the “Transaction Agreement”), pursuant to which, among other things, the Company will acquire the
“One Spa World” business of Steiner Leisure Limited (the “Transactions”, and the entities comprising the “One Spa World” business, “One Spa World”); and 

WHEREAS, in connection with the Transactions, Subscriber desires to subscribe for and purchase from the Company that number of (i) the
Company’s common shares, par value $0.0001 per share (“Common Shares”) and (ii) warrants, each representing the right to purchase one Common Share (the “Warrants”), set forth on the signature page hereto
(collectively, the “Acquired Securities”), for the aggregate purchase price set forth on the signature page hereto (the “Purchase Price”), and the Company desires to issue and sell to Subscriber the Acquired
Securities in consideration of the payment of the Purchase Price by or on behalf of Subscriber to the Company on or prior to the Closing (as defined below). 

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. Pursuant
to the terms and subject to the conditions set forth herein, 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 Acquired Securities (such
subscription and issuance, the “Subscription”). The Warrants shall be substantially in the form attached hereto as Exhibit A. 

2. Closing. 
 a. The
closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially concurrent consummation of the Transactions and shall occur immediately prior thereto. Not less than five (5) business days
prior to the scheduled closing date of the Transactions (the “Scheduled Closing Date”), the Company shall provide written notice to Subscriber (the “Closing Notice”) specifying (i) that the Company reasonably
expects all conditions to the closing of the Transactions to be satisfied on a date that is not less than five (5) business days from the date of the Closing Notice and (ii) instructions for wiring the Purchase Price for the Acquired
Securities. At the Closing, Subscriber shall deliver to the Company the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified in writing by the Company in the Closing Notice, and the Company
shall deliver to Subscriber the Acquired Securities in book entry form. The failure of the Closing to occur on the Scheduled Closing Date shall not terminate this Subscription Agreement or otherwise relieve either party of any of its obligations
hereunder. 
 b. The Closing shall be subject to the following conditions: 

 (i) no suspension of the qualification of the Common Shares for offering or sale or trading
in the United States, or initiation or threatening in writing of any proceedings for any of such purposes, shall have occurred prior to the Closing; 

(ii) all representations and warranties of the Company and Subscriber contained in this Subscription Agreement shall be true and correct in
all material respects as of the Closing, and consummation of the Closing shall constitute a reaffirmation by each of the Company and Subscriber of each of the representations, warranties and agreements of each such party contained in this
Subscription Agreement as of the Closing; 
 (iii) 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 restricting, prohibiting or
enjoining consummation of the transactions contemplated hereby; 
 (iv) all conditions precedent to the closing of the Transactions set
forth in Article 7 of the Transaction Agreement shall have been satisfied (as determined by the parties to the Transaction Agreement) or waived by the applicable parties to the Transaction Agreement prior to the Termination Date (as defined in the
Transaction Agreement and including any extensions provided for in the Transaction Agreement) (other than, in each case, (A) those conditions that by their nature are to be satisfied at the closing of the Transactions (provided that such
conditions are capable of being satisfied at the closing of the Transactions or are waived at or prior to the closing of the Transactions) and (B) the condition pursuant to Section 7.3(f) of the Transaction Agreement); 

(v) the Common Shares shall be eligible for clearance and settlement through the facilities of The Depository Trust Company to the extent
that restrictive legends do not prohibit such action; and 
 (vi) the HYAC Shareholder Redemption Amount (as defined in the Transaction
Agreement) not exceeding $165,000,000. 
 c. 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 in order to consummate the Subscription as contemplated by this Subscription Agreement. 

d. For purposes of this Subscription Agreement, “business day” shall mean any day other than (i) any Saturday or Sunday or
(ii) any other day on which banks located in New York, New York are required or authorized by applicable law to be closed for business. 

e. The Company shall use its commercially reasonable efforts to have the Common Shares approved for listing on the Nasdaq Stock Market,
subject to the closing of the Transaction. 
 3. Company Representations and Warranties. The Company represents and warrants that, as
of the date hereof and as of the Closing: 
 a. The Company has been duly incorporated and is validly existing as an international business
company in good standing under the laws of The Bahamas, with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this
Subscription Agreement. 

  
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 b. The Acquired Securities and the Common Shares issuable upon exercise of the Warrants will
be, prior to the issuance and delivery to Subscriber against full payment thereof in accordance with the terms of this Subscription Agreement, duly authorized and, when issued and delivered to Subscriber against full payment therefor in accordance
with the terms of this Subscription Agreement, the Acquired Securities will be validly issued, fully paid (in the case of the Common Shares issuable upon exercise of the Warrants, upon payment of the exercise price) and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under the Company’s memorandum of association and articles of association or under the
International Business Companies Act, 2000 of The Bahamas, as amended. 
 c. This Subscription Agreement has been duly authorized, executed
and delivered by the Company and is enforceable against it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to
or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity. 
 d. As of the
Closing, the Company will be treated as an association taxable as a corporation for United States federal income tax purposes. 
 e. The
issuance and sale of the Acquired Securities contemplated hereby and the compliance by the Company with all of the provisions of this Subscription Agreement applicable to it 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 or any
of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any
of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, which would reasonably be expected to have a material adverse effect on the business, properties, financial condition,
stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole (a “Material Adverse Effect”) or materially affect the validity of the Acquired Securities or the legal authority of the
Company to comply in all material respects with the terms of this Subscription Agreement; (ii) result in any violation of the provisions of the organizational documents of the Company or any of its subsidiaries; or (iii) result in any
violation of 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 subsidiaries or any of their respective properties that would
reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Acquired Securities or the legal authority of the Company to comply in all material respects with this Subscription Agreement. 

f. The Company does not believe that it will be a passive foreign investment company, as defined in Section 1297 of the Code (a
“PFIC”), for the taxable year including the date of the Subscription. 
 4. Subscriber Representations and
Warranties. Subscriber represents and warrants to the Company and Goldman Sachs & Co. LLC (the “Placement Agent”) that, as of the date hereof and as of the Closing: 

a. If Subscriber is not an individual, Subscriber has been duly formed or incorporated and is validly existing in good standing under the laws
of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and
perform its obligations under this Subscription Agreement. 

  
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 b. If Subscriber is not an individual, this Subscription Agreement has been duly authorized,
executed and delivered by Subscriber. If Subscriber is an individual, the signature on this Subscription Agreement is genuine, and Subscriber has legal competence and capacity to execute the same. This Subscription Agreement is enforceable against
Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally,
and (ii) principles of equity, whether considered at law or equity. 
 c. The execution, delivery and performance by Subscriber of this
Subscription Agreement 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 or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or
instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject, which would reasonably be
expected to have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of operations of Subscriber and its subsidiaries, taken as a whole (a “Subscriber Material Adverse
Effect”) or materially affect the legal authority of Subscriber to comply in all material respects with the terms of this Subscription Agreement; (ii) if Subscriber is not an individual, result in any violation of the provisions of the
organizational documents of Subscriber or any of its subsidiaries; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction
over Subscriber or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a Subscriber Material Adverse Effect or materially affect the legal authority of Subscriber to comply in all material respects
with this Subscription Agreement. 
 d. Subscriber (i)(A) is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”)) or an “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3), (5), (6) or (7) under the Securities Act) satisfying the applicable requirements
set forth on Schedule A, and an “Institutional Account” (as defined in FINRA 4512(c)) (a “U.S. Subscriber”) or (B) is not a U.S. person (as defined in Rule 902 of Regulation S under the Securities Act) and
Subscriber is outside the United States when receiving and executing this Subscription Agreement (a “Foreign Subscriber”), (ii) is acquiring the Acquired Securities only for its own account and not for the account of others, or if
Subscriber is subscribing for the Acquired Securities as a fiduciary or agent for one or more investor accounts, each owner of such account is, in the case of a U.S. Subscriber, a qualified institutional buyer or, in the case of a Foreign
Subscriber, not a U.S. person (as defined under Rule 902 of Regulation S 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 (iii) is not acquiring the Acquired Securities with a view to, or for offer or sale in connection with, any distribution thereof in violation of the
Securities Act (and, in the case of a U.S. Subscriber, shall provide the requested information on Schedule A following the signature page hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Acquired
Securities. 
 e. Subscriber understands that the Acquired Securities are being offered in a transaction not involving any public offering
within the meaning of the Securities Act and that the Acquired Securities have not been registered under the Securities Act. Subscriber understands that the Acquired Securities may not be resold, transferred, pledged or otherwise disposed of by
Subscriber absent an effective 

  
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registration statement under the Securities Act, except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers
and sales that occur outside the United States within the meaning 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 Acquired Securities shall contain a legend to such effect. Subscriber acknowledges that the Acquired Securities will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act.
Subscriber understands and agrees that the Acquired Securities will be subject to transfer restrictions and, as a result of these transfer restrictions, Subscriber may not be able to readily resell the Acquired Securities and may be required to bear
the financial risk of an investment in the Acquired Securities for an indefinite period of time. Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the Acquired
Securities. 
 f. Subscriber understands and agrees that Subscriber is purchasing the Acquired Securities directly from the Company.
Subscriber further acknowledges that (i) there have been no representations, warranties, covenants and agreements made to Subscriber by the Company or its affiliates or any of their respective officers or directors, expressly or by implication,
other than those representations, warranties, covenants and agreements included in this Subscription Agreement and (ii) the financial information provided to Subscriber with respect to One Spa World, which was prepared by, or on behalf of, One
Spa World, has not been audited in accordance with the standards of the Public Company Accounting Oversight Board (United States) and such financial information may differ after being subject to such an audit, in which form it is expected to be
presented in a proxy statement and/or other filings with the U.S. Securities and Exchange Commission (the “SEC”). 
 g.
Subscriber represents and warrants that its acquisition and holding of the Acquired Securities 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 (“ERISA”), Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law. 

h. In making its decision to purchase the Acquired Securities, Subscriber represents that it has relied solely upon independent investigation
made by Subscriber. Subscriber acknowledges and agrees that Subscriber has received such information as Subscriber deems necessary in order to make an investment decision with respect to the Acquired Securities, including with respect to the
Company, One Spa World and the Transactions. 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 Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Securities. 

i. Subscriber became aware of this offering of the Acquired Securities solely by means of direct contact between Subscriber, on the one hand,
and the Company, Haymaker Acquisition Corp. (“Haymaker”), Steiner Leisure Limited (“Steiner Leisure”), the Placement Agent 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 Acquired Securities were offered to Subscriber solely by direct contact between Subscriber and the Company, Haymaker, Steiner Leisure, the Placement Agent or their respective
Representatives. Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Company, Haymaker, Steiner Leisure,
the Placement Agent or their respective Representatives), other than the representations and warranties contained in Article 3 of this Subscription Agreement, in making its investment or decision to invest in the Company. Subscriber agrees that none
of the Company, Haymaker, Steiner Leisure, the Placement Agent or their respective Representatives shall be liable to Subscriber for 

  
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any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Acquired Securities. Subscriber did not become aware of this offering of the
Acquired Securities, nor were the Acquired Securities offered to Subscriber, by any other means, and none of the Company, Haymaker, Steiner Leisure, the Placement Agent or their respective Representatives acted as investment adviser, broker or
dealer to Subscriber. Subscriber acknowledges that the Company represents and warrants that the Acquired Securities (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. 
 j. Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Acquired Securities. 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 Acquired Securities, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an informed investment decision. 

k. Alone, or together with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately analyzed and
fully considered the risks of an investment in the Acquired Securities and determined that the Acquired Securities 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. 

l. Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Acquired
Securities or made any findings or determination as to the fairness of this investment. 
 m. Subscriber represents and warrants that
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”), the OFAC
Consolidated Sanctions List or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC Lists”), or a person or entity prohibited 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 one or more persons described in subsection (i), (iii) a person or entity listed on the Sectoral Sanctions Identifications (“SSI”) List maintained by OFAC or otherwise determined by OFAC to be subject to one or more of the
Directives issued under Executive Order 13662 of March 20, 2014, or an entity owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more persons or entities that are subject to the SSI List
restrictions, (iv) a person or entity named on the U.S. Department of Commerce, Bureau of Industry and Security Denied Persons List, Entity List, or Unverified List (“BIS Lists”), (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 providing banking services indirectly to a non-U.S. shell bank. Subscriber
agrees to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted to do so under applicable law. Subscriber represents that if it is a financial institution subject to
the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), 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 for the screening of its investors against the OFAC and BIS sanctions programs, including the OFAC Lists and BIS Lists, and otherwise to ensure compliance with all applicable sanctions and embargo laws, statutes, and regulations.
Subscriber further represents and warrants that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Acquired Securities were legally derived. 

  
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 n. Subscriber has or has commitments to have, and at the Closing will have, sufficient funds
to pay the Purchase Price pursuant to Section 2(a) of this Subscription Agreement and consummate the Closing when required pursuant to this Subscription Agreement. 

o. Except as disclosed by the Subscriber on the signature page hereto, Subscriber represents and warrants at the time of this Subscription
Agreement and at the time of Closing that Subscriber does not own any Haymaker or Company equity, including Haymaker or Company stock, options, warrants, or similar interests, and has not been party to any transaction in connection with such
Haymaker equity, except as contemplated by this Agreement, since the time the Subscriber became aware of the Transactions. 
 p. Subscriber
represents and warrants that it has accurately completed Schedule B of this Subscription Agreement and that such completed Schedule B shall remain true and correct at the time of Closing. 

5. Foreign Subscribers. In addition to the representations and warranties set forth in Section 4 of this Subscription Agreement,
each Foreign Subscriber represents and warrants that: 
 a. Subscriber is resident in the jurisdiction set forth on the signature page of
this Subscription Agreement. 
 b. 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 Acquired Securities, (ii) is
purchasing the Acquired Securities pursuant to exemptions from prospectus or equivalent requirements under applicable securities laws or, if such is not applicable, Subscriber is permitted to purchase the Acquired Securities 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 the Company 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 Acquired
Securities, and (iv) represents and warrants that the acquisition of the Acquired Securities by 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 the Company in the International Jurisdiction, and Subscriber will, if requested by the Company, deliver to the Company 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 the Company, acting reasonably. 

c. Subscriber has not acquired the Acquired Securities 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 Acquired Securities 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 Acquired Securities. 
 d. Subscriber acknowledges that
none of the Acquired Securities may be offered or sold to a U.S. Person or for the account or benefit of a U.S. Person prior to the end of the expiration of a period of six months after the date of original issuance of the Acquired Securities, other
than in accordance with Regulation S under the Securities Act, another exemption from the registration requirements of the Securities Act or registration under the Securities Act. 

  
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 e. Subscriber understands and agrees not to engage in any hedging transactions involving any
of the Acquired Securities 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. 

6. Registration Rights. 

a. The Company agrees that, within thirty (30) calendar days after the consummation of the Transactions (the “Filing
Deadline”), the Company will file with the SEC (at the Company’s sole cost and expense) a registration statement to register under and in accordance with the provisions of the Securities Act, the resale of all Registrable Securities
(as defined below) on Form S-3 (which shall be filed pursuant to Rule 415 under the Securities Act as a secondary-only registration statement), if the Company is then eligible for such short form, or any
similar or successor short form registration or, if the Company is not then eligible for such short form registration, on Form S-1 or any similar or successor long form registration (the “Registration
Statement”). The Company shall use its commercially reasonable efforts to have the Registration Statement declared effective by the SEC as soon as practicable after the filing thereof, but no later than the sixty (60) calendar days
following the Filing Deadline (the “Effectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended to ninety (90) calendar days after the Filing Deadline if the Registration Statement is reviewed
by, and receives comments from, the SEC; provided, however, that the Company’s obligations to include the Acquired Securities in the Registration Statement are contingent upon Subscriber furnishing in writing to the Company such
information regarding Subscriber, the securities of the Company held by Subscriber and the intended method of disposition of the Acquired Securities as shall be reasonably requested by the Company to effect the registration of the Acquired
Securities, 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, including providing that the Company shall be entitled to
postpone and suspend the effectiveness or use of the Registration Statement during any customary blackout or similar period and including with respect to the effectiveness thereof or in the event the Registration Statement must be supplemented,
amended or suspended. The Company will provide a draft of the Registration Statement to the Subscriber for review at least two (2) business days in advance of filing the Registration Statement. In no event shall Subscriber be identified as a
statutory underwriter in the Registration Statement unless requested by the SEC. Notwithstanding the foregoing, if the SEC prevents the Company from including any or all of the shares proposed to be registered under the Registration Statement due to
limitations on the use of Rule 415 of the Securities Act for the resale of the Acquired Securities by the Holders or otherwise, such Registration Statement shall register the resale of such number of Common Shares which is equal to the maximum
number of Common Shares as is permitted by the SEC. In such event, the number of Common Shares to be registered for each selling shareholder named in the Registration Statement shall be reduced pro rata among all such selling shareholders. The
Company will use its commercially reasonable efforts to maintain the continuous effectiveness of the Registration Statement until all such securities cease to be Registrable Securities (as defined below) or such shorter period upon which all
Subscribers with Registrable Securities included in such Registration Statement have notified the Company that such Registrable Securities have actually been sold. The Company will use its commercially reasonable efforts to (i) facilitate the
removal of all restrictive legends from any Acquired Securities being sold under the Registration Statement at the time of sale of such Acquired Securities, (ii) cause its legal counsel to deliver the necessary legal opinions, if any, to the
transfer agent in connection with the instruction under subclause (i), and (ii) ensure that any Acquired Securities being sold under the Registration Statement at the time of sale of such Acquired Securities will be eligible for clearance and
settlement through the facilities of The Depository Trust Company. The Company will use commercially reasonable efforts to file all reports, and provide all customary and reasonable cooperation, necessary to enable Subscriber to resell Registrable
Securities pursuant to the 

  
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Registration Statement or Rule 144 under the Securities Act (“Rule 144”), as applicable, qualify the Registrable Securities for listing on the applicable stock exchange, update
or amend the Registration Statement as necessary to include Registrable Securities and provide customary notice to holders of Registrable Securities. “Registrable Securities” shall mean, as of any date of determination, the Acquired
Securities, the Common Shares issuable upon exercise of the Warrants and any other equity security of the Company issued or issuable with respect to the Acquired Securities by way of share split, dividend, distribution, recapitalization, merger,
exchange, replacement or similar event or otherwise. As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable Securities at the earliest of (A) when Subscriber ceases to hold any Acquired
Securities, (B) the date all Acquired Securities held by Subscriber may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144,
other than the requirement for the Issuer to be in compliance with the current public information required under Rule 144(c), (C) when they shall have ceased to be outstanding or (D) two years from the date of effectiveness of the Registration
Statement. 
 b. The Company shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless
Subscriber (to the extent a seller under the Registration Statement), the officers, directors, trustees, agents, partners, members, managers, stockholders, affiliates, employees and investment advisers of each of them, each person who controls
Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) and the officers, directors, trustees, agents, partners, members,
managers, stockholders, affiliates, employees and investment advisers of each such controlling person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without
limitation, reasonable costs of preparation and investigation and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon (i) any untrue or alleged untrue
statement of a material fact contained in the 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 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, or (ii) any violation or alleged violation by the Company of the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of
its obligations under this Section 6, except insofar as and to the extent, but only to the extent, that such untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding Subscriber
furnished in writing to the Company by Subscriber expressly for use therein. The Company shall notify Subscriber 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 the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer of the Acquired Securities by
Subscriber. 
 c. Subscriber shall, severally and not jointly with any other purchaser, indemnify and hold harmless the Company, its
directors, officers, agents and employees, each person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such
controlling persons, 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)

  
 9 

 
not misleading to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding Subscriber furnished to the Company by Subscriber
expressly for use therein. In no event shall the liability of Subscriber be greater in amount than the dollar amount of the net proceeds received by Subscriber upon the sale of the Acquired Securities giving rise to such indemnification obligation.

 7. Transfers. 
 a.
Following the Closing, the Subscriber shall not knowingly transfer any of its Acquired Securities to any person that owns five percent or more of the total combined voting power of all classes of stock entitled to vote of the Company or five percent
or more of the total value of shares of all classes of stock of the Company, unless (A) such transfer will not cause such person to be treated as owning (within the meaning of Section 958(a) of the Code or by applying the rules of
ownership of Section 958(b) of the Code) ten percent or more of the total combined voting power of all classes of stock entitled to vote of the Company or ten percent or more of the total value of shares of all classes of stock of the Company
or (B) the transfer is approved by the Board of Directors of the Company pursuant to the terms of the Amended and Restated Memorandum and Articles of Association of the Company; provided that the foregoing shall not prohibit Subscriber
from transferring its Acquired Securities (x) to an underwriter or similar financial institution not purchasing such Acquired Securities for investment purposes, or (y) through a brokered transaction on a securities exchange in which the
identity of the transferee is not known to the Subscriber. 
 b. Following the Closing, if the Subscriber is a United States person within
the meaning of Section 7701(a)(30) of the Code (or whose ownership would be attributed under Section 958(a) of the Code to a United States person), such Subscriber shall not knowingly acquire from any person a number of additional Company
securities that would, to the knowledge of the Subscriber, cause the Subscriber to be treated as owning (within the meaning of Section 958(a) of the Code or by applying the rules of ownership of Section 958(b) of the Code) ten percent or
more of the total combined voting power of all classes of stock entitled to vote of the Company or ten percent or more of the total value of shares of all classes of stock of the Company. 

8. 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 earlier to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with its terms,
(b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement; provided, that each of Haymaker and Steiner Leisure consents in writing to such termination (in either case, such consent not to be
unreasonably withheld, conditioned or delayed), (c) if any of the conditions to Closing set forth in Section 2 of this Subscription Agreement are not satisfied, or are not capable of being satisfied, on or prior to the Closing and, as a result
thereof, the transactions contemplated by this Subscription Agreement are not and will not be consummated at the Closing, (d) closing of the Transactions does not occur prior to the Termination Date (as defined in the Transaction Agreement
(including the extension provisions provided for in the Transaction Agreement) as of the date hereof and without giving effect to any amendments to the Transaction Agreement) or (e) if the Transaction Agreement is not entered into on the date
hereof; provided, that nothing herein will relieve any party hereto from liability for any willful breach hereof (including for the avoidance of doubt Subscriber’s willful breach of Section 2(b)(ii) of this Subscription Agreement with
respect to its representations and warranties as of the Closing Date) prior to the time of termination, and each party hereto will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach.
The Company shall promptly notify Subscriber of the termination of the Transaction Agreement promptly after the termination of the Transaction Agreement. 

  
 10 

 9.Trust Account Waiver. Subscriber acknowledges that Haymaker is a blank check
company with the powers and privileges to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Subscriber further acknowledges that, as described in
the Haymaker’s final prospectus, dated October 24, 2017, related to its initial public offering (the “Prospectus”) available at www.sec.gov, substantially all of Haymaker’s assets consist of the cash proceeds of
Haymaker’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 Haymaker, its public
stockholders and the underwriters of Haymaker’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to Haymaker 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 the Company entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber, on behalf of
itself and its Representatives, hereby irrevocably waives any and all 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, except with respect to any redemption right
with respect to any previously-held securities disclosed by the Subscriber on the signature page hereto in respect of Section 4(o) hereof, and agrees not to seek recourse or make or bring any action, suit, claim or other proceeding against the
Trust Account as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby or the Acquired Securities regardless of whether such claim arises based on contract, tort, equity or any other theory of legal
liability. Subscriber acknowledges and agrees that it shall not have any redemption rights with respect to the Acquired Securities pursuant to the Company’s organizational documents in connection with the Transactions or any other business
combination, any subsequent liquidation of the Trust Account, Haymaker or the Company or otherwise. In the event Subscriber has any claim against the Company as a result of, or arising out of, this Subscription Agreement, the transactions
contemplated hereby or the Acquired Securities, it shall pursue such claim solely against the Company and its assets outside the Trust Account and not against the Trust Account or any monies or other assets in the Trust Account. 

10. Miscellaneous. 
 a.
Subscriber acknowledges that the Company and others 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 any of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate in all material respects. 

b. The Company is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this Subscription Agreement or a
copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

c. Neither this Subscription Agreement nor any rights that may accrue to Subscriber hereunder (other than the Acquired Securities acquired
hereunder, if any) may be transferred or assigned; provided, however, that Subscriber may assign this Subscription Agreement to an affiliate subject to the prior reasonable satisfaction of Haymaker Sponsor, LLC that such transfer
and/or assignment and allocation of Acquired Securities to such transferee will not result in such Acquired Securities being owned, directly or indirectly or constructively, pursuant to Section 958 of the Code, by a United States shareholder
within the meaning of Section 951(b) of the Code (i.e., United States person who owns 10% directly or indirectly or constructively), and subject to the assignee executing a joinder in a form acceptable to the Company; provided,
further, that any such assignment shall not relieve Subscriber of any of its obligations hereunder unless and until the assignee satisfies such obligations in their entirety. 

  
 11 

 d.All the agreements, representations and warranties made by each party hereto in this
Subscription Agreement shall survive the Closing. 
 e. The Company may request from Subscriber such additional information as the Company
may reasonably deem necessary to evaluate the eligibility of Subscriber to acquire the Acquired Securities, 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. 
 f. This Subscription Agreement may not be modified, waived or terminated except (i) by an
instrument in writing, signed by the party against whom enforcement of such modification, waiver, or termination is sought and (ii) after obtaining prior written consent from Haymaker and Steiner Leisure; provided, that Sections 4 and
10(h) of this Subscription Agreement may not be amended, terminated or waived in a manner that is material and adverse to the Placement Agent without the written consent of such Placement Agent. 

g. 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. 
 h. Except as otherwise provided
herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations,
warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. The parties hereto agree that
(i) Haymaker, Steiner Leisure Limited, including in its capacity as “seller representative” under the Transaction Agreement, Steiner U.S. Holdings, Inc., Nemo (UK) Holdco, Ltd., Steiner UK Limited, Steiner Management Services LLC, are
express third-party beneficiaries of this Subscription Agreement and (ii) the Placement Agent is an express third-party beneficiary of its express rights in Section 4, Section 10(f) and this Section 10(h) of this Subscription
Agreement. The parties hereto acknowledge and agree that the Placement Agent shall be entitled to seek and obtain equitable relief, without proof of actual damages, including an injunction or injunctions or order for specific performance to prevent
breaches of its rights referenced in the immediately preceding sentence. Each of the parties hereto and the parties listed in clause (i) of the second sentence of this Section 10(h) shall be entitled to seek and obtain equitable relief,
without proof of actual damages, including an injunction or injunctions or order for specific performance to prevent breaches of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement to cause
the Company to cause, or directly cause, Subscriber to fund the Purchase Price and cause the Closing to occur if the conditions in Section 2(b) have been satisfied or, to the extent permitted by applicable law, waived. Each party hereto further
agrees that the none of the parties hereto or the parties listed in the second sentence of this Section 10(h) shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any
remedy referred to in this Section 10(h), and each party hereto irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

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

j. This Subscription Agreement may be executed in 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. 

  
 12 

 k. 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. 

l. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW
YORK AND THE SUPREME COURT OF THE STATE OF NEW YORK SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE
TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR
PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY
AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A NEW YORK STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND
OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN SECTION 10(l) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE
PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. 
 EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE
FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 10(l).

 m. The Company grants the Subscriber permission to use the Company’s and its subsidiaries’ names and logos in the
Subscriber’s or its respective affiliates’ marketing materials. The Subscriber or its respective affiliate, as applicable, shall include a trademark attribution notice giving notice of the Company’s or its subsidiaries’ ownership
of its trademarks in the marketing materials in which the Company’s or its subsidiaries’ names and logos appear. 

  
 13 

 n. From and after the date hereof, neither the Company nor any of its subsidiaries shall,
without the prior written consent of the relevant Subscriber, in each case, as it relates to this Agreement, the Business Combination Agreement or the transactions contemplated hereby or thereby (i) use in advertising, publicity, or otherwise
the name of such Subscriber or any of its affiliates, or any partner or employee of such Subscriber or any of its affiliates, nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or simulation thereof
owned by such Subscriber or any of its affiliates, or (ii) represent, directly or indirectly, that any product or any service provided by the Company or any subsidiary has been approved or endorsed by any Subscriber or any of such
Subscriber’s affiliates. 
 o. If reasonably requested in writing by Subscriber, the Company shall use commercially reasonable efforts
to (a) determine if it is expected to be a PFIC for the current taxable year of the Company and if it was a PFIC in the most recently completed taxable year of the Company and (b) with respect to the most recently completed taxable year of
the Company, provide to Subscriber such information as Subscriber, in consultation with the Company, reasonably determines is required for Subscriber to complete its U.S. tax reporting requirements related thereto. Subscriber agrees to pay its pro-rata share (based on the number of Common Shares then-held by Subscriber relative to the number of Common Shares then-held by all other recipients of the information provided in accordance with the previous
sentence) of the expenses incurred by the Company (in respect of all shareholders) in connection with the Company’s compliance with the previous sentence. 

  
 14 

 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 set forth below. 
  

			
	ONESPAWORLD HOLDINGS LIMITED

 
			
		
	 By:
	 	  

		 	Name:
		 	Title:

 Date: November             , 2018 

SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT 

									
	SUBSCRIBER:	 		 		 	
			
	Signature of Subscriber:	 	                	 	   Signature of Joint Subscriber, if applicable:

									
					
	By:	 	  
	 	                    	 	 By:	 	  

									
	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
				
	Date: November             , 2018	 		 		 	
			
	Name of Subscriber:	 	            	 	Name of Joint Subscriber, if applicable:
			
	  
	 		 	  

	(Please print. Please indicate name and capacity of person signing above)	 	            	 	(Please Print. Please indicate name and capacity of person signing above)
			
	  
	 		 	
	Name in which shares are to be registered (if different):	 		 		 	
				
	Email
Address:                                       
           	 	            	 		 	
				
	If there are joint investors, please check one:	 		 		 	
				
	 ☐   Joint Tenants with Rights of Survivorship
	 		 		 	
				
	
☐   Tenants-in-Common

	 		 		 	
				
	 ☐   Community Property
	 		 		 	
			
	Subscriber’s
EIN:                                        
      	 		 	Joint Subscriber’s
EIN:                                        
      
			
	Business Address-Street:	 		 	Mailing Address-Street (if different):
			
	  
	 		 	  

			
	  
	 		 	  

	City, State, Zip:	 		 	City, State, Zip:
					
	Attn:	 		 		 	Attn:	 	
			
	Telephone
No.:                                        
  	 		 	Telephone No.:                                 
         
			
	Facsimile
No.:                                        
  	 		 	Facsimile No.:                                 
         
	
	Aggregate Number of Common Shares subscribed
for:                                        
                                  
	
	Aggregate Number of Warrants subscribed
for:                                        
                                         
     

 SIGNATURE PAGE TO SUBSCRIPTION
AGREEMENT 

	
	 Jurisdiction of
residency:                                       
                                     

 

	 Aggregate Purchase Price:
$                        
  

	Disclosure in respect of
Section 4(o):                                      
                                    

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

 SCHEDULE A 

ELIGIBILITY REPRESENTATIONS OF U.S. SUBSCRIBERS 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS 

	  	 (Please check the applicable subparagraphs): 

 

	          1.		☐	 We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act, a “QIB”).

  

	          2.		☐	 We are subscribing for the Acquired Securities as a fiduciary or agent for one or more investor accounts, and each owner of such account is a
QIB. 

 ***OR*** 
  

	B.	 ACCREDITED INVESTOR STATUS 

	  	 (Please check the applicable subparagraphs): 

 

	          1.		☐	 We are an “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3), (5), (6) or (7) under the Securities Act or
an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a)(1), (2), (3), (5), (6) or (7) under the Securities Act), and have marked and initialed the appropriate box on the following page indicating
the provision under which we qualify as an “accredited investor.” 

  

	          2.		☐	 We are not a natural person. 

***AND*** 
  

	C.	 AFFILIATE STATUS 

	  	 (Please check the applicable box) 

 

	  	 SUBSCRIBER: 

  

	 	☐	 is: 

  

	 	☐	 is not: 

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

 ***AND*** 
  

	D.	 INSTITUTIONAL ACCOUNT STATUS 

	  	 (Please check the applicable box) 

 

	 	☐	 is: 

  

	 	☐	 is not: 

  

	 	  	 an “Institutional Account” (as defined in FINRA 4512(c)). 

This page should be completed by U.S. Subscribers 

and constitutes a part of the Subscription Agreement. 

  
 Schedule A-1 

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

☐ Any bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in
Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; 
 ☐ Any broker or dealer registered pursuant to
Section 15 of the Exchange Act; 
 ☐ Any insurance company as defined in Section 2(a)(13) of the Securities Act; 

☐ Any investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of
that Act; 
 ☐ Any Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the
Small Business Investment Act of 1958; 
 ☐ 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 ERISA, 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; 

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

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

☐ 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. 

  
 Schedule A-2 

 SCHEDULE B 

TAX CERTIFICATIONS OF THE SUBSCRIBER 

1. Subscriber (or if Subscriber is classified as an entity disregarded as separate from its single owner for U.S. federal income tax purposes,
its single owner): 
 a. ☐ Is a United States person within the meaning of Section 957(c) of the Internal Revenue Code of 1986,
as amended (the “Code”). 
 b. ☐ Is NOT a United States person within the meaning of Section 957(c) of
the Code. 
 2. If Subscriber (or if Subscriber is classified as an entity disregarded as separate from its single owner for U.S. federal
income tax purposes, its single owner) is not a United States person within the meaning of Section 957(c) of the Code, Subscriber (or its single owner): 

a. ☐ Is not an alternative investment vehicle or parallel vehicle of a United States person within the meaning of Section 957(c) of
the Code. 
 b. To the best of its knowledge, is aware that: 

(i) equity interests representing              percent of the total voting
power of all outstanding equity interests of Subscriber and 
 (ii) equity interests representing
             percent of the total value of all outstanding equity interests of Subscriber 

are attributable under Section 958(b) of the Code to a United States person within the meaning of Section 957(c) of the Code. 

3. Subscriber (or if Subscriber is classified as an entity disregarded as separate from its single owner for U.S. federal income tax purposes,
its single owner) owns, directly or indirectly, any equity interest in 
 a. ☐ Mistral Equity Partners, LP 

b. ☐ Mistral Equity Partners QP, LP 

c. ☐ Catterton Partners VII, L.P. 

d. ☐ Catterton Partners VII Offshore, L.P. 

e. ☐ CP7 International AIV, L.P. 

f. ☐ CP7SP International AIV, L.P. 

g. ☐ Baron Small Cap Fund 

h. ☐ Baron Growth Fund 

  
 Schedule B-1 

 i. ☐ LVIP Baron Growth Opportunities Fund 

j. ☐ BEMAP Master Fund LTD 

k. ☐ Monashee Capital Master Fund LP 

l. ☐ Monashee Pure Alpha Capital Master Fund LP 

m. ☐ Kiski (Cayman) Master Fund LP 

n. ☐ DIV I BM 
 o. ☐
StoneBridge 2018 AIV, L.P. 
 p. ☐ StoneBridge 2018 Offshore, L.P. 

q. ☐ Broad Street Principal Investments, L.L.C. 

r. ☐ [Other Investor] 
 s.
☐ None of the above 

  
 Schedule B-2 

 EXHIBIT A 

FORM OF WARRANT 

  
 Exhibit A-1 

 AMENDED AND RESTATED WARRANT AGREEMENT 

between 
 ONESPAWORLD
HOLDINGS LIMITED 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

THIS AMENDED AND RESTATED WARRANT AGREEMENT (this “Agreement”), dated as of [    ], 2018 is
by and between (i) OneSpaWorld Holdings Limited, an international business company incorporated under the laws of the Commonwealth of The Bahamas (the “Company”) and the successor-in-interest to Haymaker Acquisition Corp., a Delaware corporation (“Haymaker”), and (ii) Continental Stock Transfer & Trust Company, a New York corporation, as
warrant agent (the “Warrant Agent”). 
 WHEREAS, on October 19, 2017, Haymaker entered into that certain
Warrants Purchase Agreement (the “Warrants Purchase Agreement”) with Haymaker Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor purchased an aggregate of
8,000,000 warrants in connection with, and simultaneously upon, the closing of the Offering (as defined below) and bearing the legend set forth in Exhibit A hereto (the “Sponsor Warrants”) at a purchase price of $1.00
per Sponsor Warrant; 
 WHEREAS, in order to finance Haymaker’s transaction costs in connection with its initial merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving Haymaker and one or more businesses (each, a “Business Combination”), the Sponsor or an affiliate of the Sponsor or
certain of Haymaker’s executive officers and directors may loan to Haymaker funds as Haymaker may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 1,500,000 Sponsor Warrants at a price of $1.00 per
warrant; 
 WHEREAS, Haymaker and the Warrant Agent entered into that certain Warrant Agreement, dated as of October 24, 2017 (the
“Original Warrant Agreement”), which provides for the form and provisions of the Warrants (as defined below), the terms upon which they shall be issued and exercised, and the respective rights, limitations of rights, and
immunities of the Company (as successor-in-interest to Haymaker), the Warrant Agent, and the holders of the Warrants; 

WHEREAS, on October 24, 2017, Haymaker completed its initial public offering (the “Offering”) of units of
Haymaker’s equity securities, each such unit comprised of one share of Common Stock (as defined below) and one-half of one Public Warrant (as defined below) (the “Units”) and, in
connection therewith, issued and delivered 16,500,000 warrants (including 1,500,000 warrants pursuant to the partial exercise of the underwriters’ over-allotment option on November 1, 2017) to public investors in the Offering (the
“Public Warrants” and, together with the Sponsor Warrants, the “Initial Warrants”). Each whole Initial Warrant entitled the holder thereof to purchase one share of Class A common stock of
Haymaker, par value $0.0001 per share (“Common Stock”), for $11.50 per share, subject to adjustment as described herein; 

WHEREAS, Haymaker filed with the Securities and Exchange Commission (the “Commission”) a registration statement on
Form S-1, File No. 333-220733 (the “Registration Statement”) and prospectus (the “Prospectus”), for the
registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Common Stock included in the Units; 

WHEREAS, on November 1, 2018, the Company entered into that certain Business Combination Agreement, dated as of November 1, 2018 (as
it may be amended, supplemented or otherwise modified from time to time, the “Transaction Agreement”), pursuant to which, among other things, the Company acquired Haymaker and the “One Spa World” business of Steiner
Leisure Limited (the “Transaction”); 
 WHEREAS, as a consequence of the closing of the Transaction and in
accordance with the terms of the Original Warrant Agreement and the Transaction Agreement, each outstanding Warrant of Haymaker will represent the right to purchase one common share, par value $0.0001 per share (each, a “Common
Share”), of the Company in lieu of one share of Common Stock; 
 WHEREAS, immediately after the closing of the Closing Merger
(as defined in the Transaction Agreement) and in accordance with the terms of the Original Warrant Agreement, Sponsor will transfer 5,006,581 Sponsor Warrants (which, as described above, will represent the right to purchase Common Shares) to the
Company, and the Company will transfer such Sponsor Warrants (the “PIPE and SLL Warrants” and, together with the Sponsor Warrants, the “Private Placement Warrants”) to (i) certain investors who
entered into subscription agreements with the Company on or about November 1, 2018 (the “PIPE Investors”) and (ii) Steiner Leisure Limited (“SLL”) in accordance with the terms of the
Transaction Agreement. In order to reflect the closing of the Transaction and the fact that the PIPE Investors shall be entitled to registration rights under a subscription agreement rather than a separate registration rights agreement, the PIPE and
SLL Warrants shall bear the legend set forth on Exhibit B hereto instead of the legend previously affixed to the Sponsor Warrants. Immediately after giving effect to the closing of the Transaction, the Private Placement Warrants and the
Public Warrants are collectively referred to herein as the “Warrants”; 

  
 1 

 WHEREAS, the Company desires that the Warrant Agent act on behalf of the Company, and the
Warrant Agent is willing to act, in connection with the issuance, registration, transfer, exchange, redemption and exercise, as applicable, of the Warrants; 

WHEREAS, in connection with the Transaction, the Company and the Warrant Agent desire to amend and restate the Original Warrant Agreement in
its entirety, in accordance with Sections 4.4 and 9.8 of the Original Warrant Agreement, such that this Agreement will take effect immediately following the Closing Merger; and 

WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 

1. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and
the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

2. Warrants. 
 2.1 Form
of Warrant. Each Warrant shall be issued in registered form only. 
 2.2 Effect of Countersignature. If a physical certificate is
issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3 Registration. 
 2.3.1
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants,
the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial
interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions that have accounts with the Depository Trust Company (the “Depositary”)
(such institution, with respect to a Warrant in its account, a “Participant”). 
 If the Depositary subsequently
ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for,
or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the
Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants which shall be in the form annexed hereto as Exhibit C. 

Physical certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer,
Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant
before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

2.3.2 Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation
of ownership or other writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary. 
 2.4 Detachability of Warrants. The Common Shares and Public Warrants comprising the Units
shall trade separately. 

  
 2 

 2.5 No Fractional Warrants Other Than as Part of Units. The Company shall not issue
fractional Warrants other than as part of Units, each of which was comprised of one Common Share and one-half of one Public Warrant. If, upon the detachment of Public Warrants from Units or otherwise, a holder
of Warrants would have been entitled to receive a fractional Warrant, the Company shall have rounded down to the nearest whole number the number of Warrants to be issued to such holder. 

2.6 Private Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they
are held by the Sponsor, the PIPE Investors, SLL or any of their respective Permitted Transferees (as defined below), the Private Placement Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c)
hereof, (ii) may not be transferred, assigned or sold until thirty (30) days after the closing of the Transaction, and (iii) shall not be redeemable by the Company; provided, however, that in the case of (ii), the
Private Placement Warrants and any Common Shares held by the Sponsor, the PIPE Investors, SLL or any of their respective Permitted Transferees and issued upon exercise of the Private Placement Warrants may be transferred by the holders thereof: 

(a) in the case of an individual, as gift to such person’s immediate family or to a trust, the beneficiary of which is a member of such
person’s immediate family, an affiliate of such person or to a charitable organization; 
 (b) to the Company’s officers or
directors, any affiliate or family member of any of the Company’s officers or directors, any affiliate of the Sponsor, to any member(s) of the Sponsor or any of their affiliates; 

(c) in the case of an individual, by virtue of the laws of descent and distribution upon death of such person; 

(d) in the case of an individual, pursuant to a qualified domestic relations order; 

(e) by virtue of the laws of the state of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor;

 (f) through private sales or transfers made in connection with the consummation of the Transaction at prices no greater than the price
at which the Warrants were originally purchased; or 
 (g) in the event that the Company consummates a merger, capital stock exchange,
reorganization or other similar transaction that results in all of the holders of Haymaker’s former equity securities that were issued in the Offering (which have been subsequently exchanged for the Company’s equity securities in
connection with the Transaction) having the right to exchange their Common Shares for cash, securities or other property; 
 provided,
however, that, in the case of clauses (a) through (d) and (f), these transferees (the “Permitted Transferees”) enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in
this Agreement. 
 3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the
provisions of such Warrant and of this Agreement, to purchase from the Company the number of Common Shares stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share at which Common Shares may be purchased at the time a Warrant is exercised. The
Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days, provided, that the Company shall provide at least twenty
(20) days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants. The term “Business Day” as
used in this Agreement shall mean any day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business. 

3.2 Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing
on the later of the date that is: (i) thirty (30) days after the first date on which Haymaker completed the Transaction, or (ii) twelve (12) months from the date of the closing of the Offering, and terminating at 5:00 p.m., New York City
time on the earlier to occur of: (y) the date that is five (5) years after the date on which Haymaker completed the Transaction, or (z) other than with respect to the Private Placement Warrants then held by the Sponsor, the PIPE
Investors, SLL or their respective Permitted Transferees, the Redemption Date (as defined below) as provided in Section 6.2 hereof (the “Expiration Date”); provided, however, that the
exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective registration statement. Except with respect to the right to receive the Redemption
Price (as defined below) (other than with 

  
 3 

 
respect to a Private Placement Warrant then held by the Sponsor, the PIPE Investors, SLL or their respective Permitted Transferees) in the event of a redemption (as set forth in
Section 6 hereof), each outstanding Warrant (other than a Private Placement Warrant held by the Sponsor, the PIPE Investors, SLL or their respective Permitted Transferees in the event of a redemption) not exercised on or
before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the
duration of the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided
further that any such extension shall be identical in duration among all the Warrants. 
 3.3 Exercise of Warrants. 

3.3.1 Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be
exercised by the Registered Holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth
in the Warrant, duly executed, and by paying in full the Warrant Price for each full Common Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant
for the Common Shares and the issuance of such Common Shares, as follows: 
 (a) in lawful money of the United States, in good certified
check or good bank draft payable to the Warrant Agent; 
 (b) in the event of a redemption pursuant to Section 6
hereof in which the Company’s board of directors (the “Board”) has elected to require all holders of the Warrants (except as otherwise provided in Section 6.4) to exercise such Warrants on a “cashless
basis,” by surrendering the Warrants for that number of Common Shares equal to the quotient obtained by dividing (x) the product of the number of Common Shares underlying the Warrants, multiplied by the difference between the Warrant Price
and the Fair Market Value (as defined in this subsection 3.3.1(b)) by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b) and Section 6.3, the “Fair Market
Value” shall mean the average last sale price of the Common Shares for the ten (10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants, pursuant
to Section 6 hereof; 
 (c) with respect to any Private Placement Warrant, so long as such Private Placement
Warrant is held by the Sponsor, the PIPE Investors, SLL or one of their respective Permitted Transferees, by surrendering the Warrants for that number of Common Shares equal to the quotient obtained by dividing (x) the product of the number of
Common Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the Fair Market Value (as defined in this subsection 3.3.1(c)) by (y) the Fair Market Value. Solely for purposes of this subsection
3.3.1(c), the “Fair Market Value” shall mean the average last sale price of the Common Shares for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise of the Warrant
is sent to the Warrant Agent; or 
 (d) as provided in Section 7.4 hereof. 

3.3.2 Issuance of Common Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds
in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full Common Shares to
which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of
Common Shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver any Common Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such
Warrant exercise unless a registration statement under the Securities Act with respect to the Common Shares underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its
obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to issue Common Shares upon exercise of a Warrant unless the Common Shares issuable upon such Warrant exercise has been
registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences
are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants
shall have paid the full purchase price for the Unit solely for the Common Shares underlying such Unit. In no event will the Company be required to net cash settle the Warrant exercise. The Company may require holders of Public Warrants to settle
the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant,
to receive a fractional interest in a Common Share, the Company shall round down to the nearest whole number, the number of Common Shares to be issued to such holder. 

  
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 3.3.3 Valid Issuance. All Common Shares issued upon the proper exercise of a Warrant
in conformity with this Agreement shall be validly issued, fully paid and non-assessable. 
 3.3.4
Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Common Shares is issued shall for all purposes be deemed to have become the holder of record of such Common Shares on the date on which the
Warrant, or book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such
surrender and payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such Common Shares at the close of business on the next
succeeding date on which the share transfer books or book-entry system are open. 
 3.3.5 Maximum Percentage. A holder of a Warrant
may notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes
such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such
exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder) (the “Maximum Percentage”) of
the Common Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Common Shares beneficially owned by such person and its affiliates shall include the number of Common
Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Common Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant
beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without
limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this
paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of
outstanding Common Shares, the holder may rely on the number of outstanding Common Shares as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or the transfer agent of the Company setting forth the number of Common Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business
Days, confirm orally and in writing to such holder the number of Common Shares then outstanding. In any case, the number of outstanding Common Shares shall be determined after giving effect to the conversion or exercise of equity securities of the
Company by the holder and its affiliates since the date as of which such number of outstanding Common Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 
 4.1
Stock Dividends. 
 4.1.1 Split-Ups. If after the date hereof, and subject to the
provisions of Section 4.6 below, the number of outstanding Common Shares is increased by a stock dividend payable in Common Shares, or by a split-up of Common Shares or other similar
event, then, on the effective date of such stock dividend, split-up or similar event, the number of Common Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the
outstanding Common Shares. A rights offering to holders of the Common Shares entitling holders to purchase Common Shares at a price less than the Fair Market Value (as defined below) shall be deemed a stock dividend of a number of Common Shares
equal to the product of (i) the number of Common Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Shares) and
(ii) one (1) minus the quotient of (x) the price per Common Share paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities
convertible into or exercisable for Common Shares, in determining the price payable for Common Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion
and (ii) “Fair Market Value” means the volume weighted average price of the Common Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Common Shares
trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

  
 5 

 4.1.2 Extraordinary Dividends. If the Company, at any time while the Warrants are
outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Shares on account of such Common Shares (or other shares of the Company’s capital stock into which the
Warrants are convertible), other than (a) as described in subsection 4.1.1 above, or (b) Ordinary Cash Dividends (as defined below) (any such non-excluded event being referred to herein as an
“Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the
Board, in good faith) of any securities or other assets paid on each Common Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or
cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Common Shares during the 365-day period ending on the date
of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in
an adjustment to the Warrant Price or to the number of Common Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering). 

4.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the
number of outstanding Common Shares is decreased by a consolidation, combination, reverse stock split or reclassification of Common Shares or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of Common Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding Common Shares. 

4.3 Adjustments in Exercise Price. Whenever the number of Common Shares purchasable upon the exercise of the Warrants is adjusted, as
provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator
of which shall be the number of Common Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of Common Shares so purchasable immediately thereafter. 

4.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Common
Shares (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects the par value of such Common Shares), or in the case of any merger or consolidation of the Company with
or into another entity or conversion of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Common Shares), or in the case of any sale or conveyance to another entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the Warrants
shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Common Shares of the Company immediately theretofore purchasable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale
or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance” ) and the Company shall not enter into any
such consolidation, merger, sale or conveyance unless the successor or purchasing entity, as the case may be, shall execute an amendment hereto with the Warrant Agent providing for delivery of such Alternative Issuance; provided,
however, that (i) if the holders of the Common Shares were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of
securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Common Shares in such
consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the Common Shares under circumstances in which, upon completion of such
tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such maker is a part, and
together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or
associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding Common Shares, the holder of a Warrant shall be entitled
to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such
tender or exchange offer, accepted such offer and all of the Common Shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as
nearly equivalent as possible to the adjustments provided for in this Section 4; provided, further, that if less than 70% of the consideration receivable by the holders of the Common Shares in the applicable
event is payable in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is quoted in an established
over-the-counter market, or is to be so listed for trading or 

  
 6 

 
quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such
applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (but in no event less
than zero) (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant
Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”).
For purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each Common Share shall be the volume weighted average price of the Common Shares as reported
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of
the trading day immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant.
“Per Share Consideration” means (i) if the consideration paid to holders of the Common Shares consists exclusively of cash, the amount of such cash per Common Share, and (ii) in all other cases, the amount of cash
per Common Share, if any, plus the volume weighted average price of the Common Shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or
reorganization also results in a change in Common Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3and this Section 4.4. The
provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par
value per share issuable upon exercise of the Warrant. 
 4.5 Notices of Changes in Warrant. Upon every adjustment of the Warrant
Price or the number of Common Shares issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if
any, in the number of Common Shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified
in Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record
date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

4.6 No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional Common Shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a
fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of Common Shares to be issued to such holder. 

4.7 Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this
Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of Common Shares as is stated in the Warrants initially issued pursuant to this Agreement; provided,
however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned,
whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 
 4.8 Other Events.
In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants
in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants,
investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this
Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8
as a result of any issuance of securities in connection with a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion. 

5. Transfer and Exchange of Warrants. 

5.1 Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated warrants, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new
Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the
Company from time to time upon request. 

  
 7 

 5.2 Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant
Agent, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal
aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants), the Warrant Agent shall not cancel such Warrant
and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 

5.3 Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result
in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 
 5.4 Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 
 5.5 Warrant Execution and
Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5,
and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

6. Redemption. 
 6.1
Redemption. Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the
office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.2 below, at the price of $0.01 per Warrant (the “Redemption Price”),
provided that the last sales price of the Common Shares reported has been at least $18.00 per share (subject to adjustment in compliance with Section 4 hereof), on each of twenty (20) trading days within the
thirty (30) trading-day period ending on the third Business Day prior to the date on which notice of the redemption is given and provided that there is an effective registration statement covering the
Common Shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.2 below) or
the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1. 
 6.2
Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be
mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder
received such notice. 
 6.3 Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless
basis” in accordance with subsection 3.3.1(b) of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date. In
the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate
the number of Common Shares to be received upon exercise of the Warrants, including the Fair Market Value (as such term is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder of the
Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 
 6.4 Exclusion of
Private Placement Warrants. The Company agrees that the redemption rights provided in this Section 6 shall not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants
continue to be held by the Sponsor, the PIPE Investors, SLL or their respective Permitted Transferees. However, once such Private Placement Warrants are transferred (other than to Permitted Transferees under
Section 2.5), the Company may redeem the Private Placement Warrants, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants to exercise the Private
Placement Warrants prior to redemption pursuant to Section 6.3. Private Placement Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants and
shall become Public Warrants under this Agreement. 

  
 8 

 7. Other Provisions Relating to Rights of Holders of Warrants. 

7.1 No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of
directors of the Company or any other matter. 
 7.2 Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen,
mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of
like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed
Warrant shall be at any time enforceable by anyone. 
 7.3 Reservation of Common Shares. The Company shall at all times reserve and
keep available a number of its authorized but unissued Common Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

7.4 Registration of Common Shares; Cashless Exercise at Company’s Option. 

7.4.1 Registration of the Common Shares. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of the Transaction, it shall use its best efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the Common Shares issuable upon exercise of the
Warrants. The Company shall use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance
with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Transaction, holders of the Warrants shall have the right, during the period beginning on
the 61st Business Day after the closing of the Transaction and ending upon such registration statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration
statement covering the Common Shares issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor rule)
or another exemption) for that number of Common Shares equal to the quotient obtained by dividing (x) the product of the number of Common Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the Fair Market
Value (as defined below) by (y) the Fair Market Value. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Common Shares as reported during the ten
(10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is
received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for
the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the
Securities Act and (ii) the Common Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any
successor rule)) of the Company and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised, the
Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 

7.4.2 Cashless Exercise at Company’s Option. If the Common Shares are at the time of any exercise of a Warrant not listed on a
national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act (or any successor rule), the Company may, at its option, (i) require holders of Public
Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) as described in subsection 7.4.1 and (ii) in the
event the Company so elects, the Company shall (x) not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Common Shares issuable upon exercise of the Warrants,
notwithstanding anything in this Agreement to the contrary, and (y) use its best efforts to register or qualify for sale the Common Shares issuable upon exercise of the Public Warrant under the blue sky laws of the state of residence of the
exercising Public Warrant holder to the extent an exemption is not available. 

  
 9 

 8. Concerning the Warrant Agent and Other Matters. 

8.1 Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of Common Shares upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such Common Shares. 

8.2 Resignation, Consolidation, or Merger of Warrant Agent. 

8.2.1 Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and
be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or incapacity by
the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for
the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good
standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After
appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any
further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority,
powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in
and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 
 8.2.2 Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent not later than the effective date of any such appointment. 

8.2.3 Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be
consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

8.3 Fees and Expenses of Warrant Agent. 

8.3.1 Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

8.3.2 Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

8.4 Liability of Warrant Agent. 

8.4.1 Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it
necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed
to be conclusively proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, Secretary or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such
statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 
 8.4.2 Indemnity. The
Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. 

  
 10 

 8.4.3 Exclusions. The Warrant Agent shall have no responsibility with respect to the
validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this
Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or
the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Common Shares to be issued pursuant
to this Agreement or any Warrant or as to whether any Common Shares shall, when issued, be valid and fully paid and non-assessable. 

8.5 Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon
the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the
purchase of Common Shares through the exercise of the Warrants. 
 8.6 Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement,
dated as of the date of the Original Warrant Agreement, by and between Haymaker and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for
any reason whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

9.1 Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns. 
 9.2 Notices. Any notice, statement or demand authorized by
this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

OneSpaWorld Holdings Limited 

c/o Haymaker Acquisition Corp. 

650 Fifth Avenue, Floor 10 
 New
York, NY 10019 
 Attn: Christopher Bradley 

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed
in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 
 New
York, NY 10004-1561 
 Attn: Compliance Department 

9.3 Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all
respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person or
corporation other than the parties hereto and the Registered Holders of the Warrants and, for purposes of Sections 7.4, 9.4 and 9.8, Cantor Fitzgerald & Co. (“Cantor”), any right, remedy, or claim under or by reason
of this Agreement or 

  
 11 

 
of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and
exclusive benefit of the parties hereto and, for purposes of Sections 7.4, 9.4 and 9.8, Cantor, and their successors and assigns and of the Registered Holders of the Warrants. 

9.5 Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit his Warrant for inspection by it. 

9.6 Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

9.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof. 
 9.8 Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder (i) for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this
Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to provide for the delivery of Alternative Issuance pursuant to Section 4.4. All
other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants, shall require the vote or written consent of the
Registered Holders of 50% of the then outstanding Public Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively,
without the consent of the Registered Holders. 
 9.9 Severability. This Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties
hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

9.10 Complete Agreement. This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both
written and oral, between the parties with respect to the subject matter hereof (including, for the avoidance of doubt, the Original Warrant Agreement). 

Exhibit A – Legend (Sponsor Warrants) 
 Exhibit B –
Legend (PIPE and SLL Warrants) 
 Exhibit C – Form of Warrant Certificate 

[Signature Page Follows] 

  
 12 

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

			
	ONESPAWORLD HOLDINGS LIMITED

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Warrant Agreement] 

  
 13 

 EXHIBIT A 

LEGEND (SPONSOR WARRANTS) 
 “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG HAYMAKER ACQUISITION
CORP. (THE “COMPANY”), HAYMAKER SPONSOR, LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON
WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE
COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON
EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.” 

  
 A-1 

 EXHIBIT B 

LEGEND (PIPE AND SLL WARRANTS) 
 “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG HAYMAKER ACQUISITION
CORP. (THE “COMPANY”), HAYMAKER SPONSOR, LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON
WHICH THE COMPANY COMPLETES THE TRANSACTION (AS DEFINED IN THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH
TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS CERTIFICATE AND COMMON SHARES OF ONESPAWORLD HOLDINGS LIMITED ISSUED UPON EXERCISE OF SUCH SECURITIES
SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER THE APPLICABLE SUBSCRIPTION AGREEMENT OR REGISTRATION RIGHTS AGREEMENT EXECUTED BY ONESPAWORLD HOLDINGS LIMITED.” 

  
 B-1 

 EXHIBIT C 

[Form of Warrant Certificate] 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

ONESPAWORLD HOLDINGS LIMITED 

Incorporated Under the Laws of the Commonwealth of The Bahamas 

CUSIP [    ] 

Warrant Certificate 

This Warrant Certificate certifies that [    ], or registered assigns, is the registered holder of
warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”) to purchase common shares, $0.0001 par value (“Common Shares”), of OneSpaWorld Holdings Limited, an
international business company incorporated under the laws of the Commonwealth of The Bahamas (the “Company”). Each whole Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement
referred to below, to receive from the Company that number of fully paid and non-assessable Common Shares as set forth below, at the exercise price (the “Exercise Price”) as determined
pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise
Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to
them in the Warrant Agreement. 
 Each whole Warrant is initially exercisable for one fully paid and
non-assessable Common Share. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a Common Share,
the Company will, upon exercise, round down to the nearest whole number the number of Common Shares to be issued to the Warrant holder. The number of Common Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence
of certain events set forth in the Warrant Agreement. 
 The initial Exercise Price per Common Share for any Warrant is equal to $11.50 per
share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 
 Subject to
the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void. 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions
shall for all purposes have the same effect as though fully set forth at this place. 
 This Warrant Certificate shall not be valid unless
countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 

  
 C-1 

 This Warrant Certificate shall be governed by and construed in accordance with the internal
laws of the State of New York, without regard to conflicts of laws principles thereof. 
  

			
	ONESPAWORLD HOLDINGS LIMITED

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  
 C-2 

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Common Shares and are issued or to be issued pursuant to a Warrant Agreement dated as of [__] (the “Warrant
Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby
incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the
words “holders” or “holder” meaning the Registered Holders or Registered Holder) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the
Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this
Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall
be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the Common Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the Common Shares is current, except through “cashless
exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the occurrence of certain events the
number of Common Shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a
Common Share, the Company shall, upon exercise, round down to the nearest whole number of Common Shares to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of
transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for
this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company. 

  
 C-3 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive Common Shares and
herewith tenders payment for such Common Shares to the order of OneSpaWorld Holdings Limited (the “Company”) in the amount of $[    ] in accordance with the terms hereof. The undersigned requests
that a certificate for such Common Shares be registered in the name of [    ], whose address is [    ] and that such Common Shares be delivered to [    ] whose address
is [    ]. If said number of Common Shares is less than all of the Common Shares purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such Common Shares be
registered in the name of [    ], whose address is [    ] and that such Warrant Certificate be delivered to [    ], whose address is [    ].

 In the event that the Warrant has been called for redemption by the Company pursuant to Section 6 of the
Warrant Agreement and the Company has required cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the number of Common Shares that this Warrant is exercisable for shall be determined in accordance with
subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement. 
 In the event that the Warrant is a Private
Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of Common Shares that this Warrant is exercisable for shall be determined in accordance with
subsection 3.3.1(c) of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on a “cashless” basis
pursuant to Section 7.4 of the Warrant Agreement, the number of Common Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement. 

In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number
of Common Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive [    ] Common Shares. If said number of
shares is less than all of the Common Shares purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Common Shares be registered in the
name of [    ], whose address is [    ], and that such Warrant Certificate be delivered to [    ], whose address is [    ]. 

[Signature Page Follows] 

  
 C-4 

			
	 Date:                     , 20

 
	  	  
 (Signature)

 
  
  

 
  
  

        (Address)
  

 
         (Tax Identification
Number)

	 Signature Guaranteed:
  
	  	

 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)). 

  
 C-5EX-10.2

 Exhibit 10.2 

DIRECTOR DESIGNATION AGREEMENT 

This Director Designation Agreement (this “Agreement”) is made as of November 1, 2018, by and among OneSpaWorld Holdings
Limited, an international business company incorporated under the laws of the Commonwealth of The Bahamas (“Dory Parent”), Haymaker Acquisition Corp., a Delaware corporation (“HYAC”), Steiner Leisure Limited, an
international business company incorporated under the laws of the Commonwealth of The Bahamas (the “Steiner Leisure”) and each other Person that becomes party to this Agreement after the date hereof in accordance with the terms
hereof. All of the capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Business Combination Agreement (as defined below). 

WHEREAS, Dory Parent, HYAC, Steiner Leisure, Steiner U.S. Holdings, Inc., a Florida corporation, Nemo (UK) Holdco, Ltd., a limited
company formed under the laws of England and Wales, Steiner UK Limited, a limited company formed under the laws of England and Wales, and Steiner Management Services LLC, a Florida limited liability company, and certain other Persons party thereto
have entered into that certain Business Combination Agreement dated as of the date hereof (as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms, the “Business Combination
Agreement”) whereby, among other things, through a series of combination transactions, HYAC and the Group Companies will, directly or indirectly, be acquired by Dory Parent on the terms and subject to the conditions contained therein; and

 WHEREAS, the parties hereto desire to enter into this Agreement to set forth certain covenants and agreements with respect to the
board of directors of Dory Parent (the “Dory Parent Board”) and certain other governance matters with respect to Dory Parent, in each case, on the terms and subject to the conditions contained in this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 Section 1. Steiner
Directors. 
 (a) At and prior to the Closing, each of Dory Parent and HYAC shall take all necessary and desirable
actions such that, immediately following the Closing, (i) Marc Magliacano shall serve as a Class B director of the Dory Parent Board (the “Initial Steiner Designee”), and (ii) the Initial Steiner Designee shall serve
as a member of the compensation committee of the Dory Parent Board (the “Compensation Committee”). 
 (b)
Upon the terms and subject to the conditions of this Agreement, from and after the Closing, Dory Parent will take all necessary and desirable actions within its control (including, without limitation, calling special meetings of the Dory Parent
Board and the stockholders and recommending, supporting and soliciting proxies), such that, for so long as the Steiner Holders, in the aggregate, beneficially own 5.00% or more of the issued and outstanding Dory Parent Common Shares, Steiner

 
Leisure shall have the right, but not the obligation, to designate one individual to be appointed or nominated, as the case may be, as a Class B director of the Dory Parent Board or, if the
Dory Parent Board does not contain classes, as a director of the Dory Parent Board. 
 (c) If a vacancy on the Dory Parent
Board occurs because of the death, disability, disqualification, resignation, or removal of any Steiner Director or any Steiner Director ceases to be on the Dory Parent Board for any other reason, Steiner Leisure shall, so long as Steiner Leisure is
entitled to designate an individual to such director position for appointment or nomination, as applicable, pursuant to Section 1(b), be entitled to designate an individual to fill such director position by giving written
notice to Dory Parent, and Dory Parent shall, within ten (10) days of such designation, take all necessary and desirable actions in order for such director position to be filled with such individual designated in writing pursuant to this
Section 1(c). Notwithstanding anything to the contrary in this Agreement, the Business Combination Agreement or the Governing Documents of Dory Parent, subject to Section 1(d), neither the Dory
Parent Board nor any other Person (other than Steiner Leisure pursuant to this Section 1(c)) may appoint, elect or designate any Person to fill any such director position described in the preceding sentence.

(d) If an individual designated by Steiner Leisure is not appointed, nominated or elected pursuant to Sections 1(a),
1(b) or 1(c) or this Section 1(d) because of such individual’s death, disability, disqualification or withdrawal as a designee or nominee or for any other reason, then Steiner Leisure shall be entitled to
designate a replacement to fill such director position by giving written notice to Dory Parent, and Dory Parent will, within ten (10) days of such designation, take all necessary and desirable actions in order for such director position to be
filled with such person designated in writing pursuant to this Section 1(d). Notwithstanding anything to the contrary in this Agreement, the Business Combination Agreement or the Governing Documents of Dory Parent, neither
the Dory Parent Board nor any other Person (other than Steiner Leisure pursuant to this Section 1(d)) may appoint, elect or designate any Person to fill any such director position described in the preceding sentence. 

(e) As promptly as reasonably practicable following the request of any Steiner Director, Dory Parent shall enter into an
indemnification agreement with the Steiner Director, in the form entered into with the other members of the Dory Parent Board or, if not entered into by other members of the Dory Parent Board, a customary form. Dory Parent shall pay the reasonable,
documented and out-of-pocket expenses incurred by the Steiner Director related to his or her service to Dory Parent, including attending meetings of the Dory Parent
Board or any committee or sub-committee thereof (including, to the extent applicable, the Nominating Committee) or events attended on behalf of Dory Parent or any of its Subsidiaries at Dory Parent’s
request. 
 (f) At any time the Steiner Director serves as a director of Dory Parent (provided that the Steiner Holders, in
the aggregate, beneficially own 5.00% or more of the issued and outstanding Dory Parent Common Shares as of such time), Steiner Leisure shall have the right, but not the obligation, to designate such Steiner

  
 2 

 
Director to be appointed or nominated, as the case may be, to serve on the Compensation Committee, and Dory Parent will take all necessary and desirable actions so that such Steiner Director
shall serve as a member of the Compensation Committee. 
 (g) For so long as the Steiner Director serves as a director of
Dory Parent, Dory Parent shall not amend, alter or repeal any right to indemnification or exculpation covering or benefiting any director designated pursuant to this Agreement as and to the extent consistent with applicable law, including but not
limited to under the Governing Documents of Dory Parent (whether such right is contained in the Governing Documents of Dory Parent or another document) (except to the extent such amendment or alteration permits Dory Parent to provide broader
indemnification or exculpation rights on a retroactive basis than permitted prior thereto) 
 (h) Subject to compliance with
the listing standards of Nasdaq, the Steiner Director may, but does not need to, qualify as “independent” pursuant to the listing standards of Nasdaq; provided, however, that if such Steiner Director is appointed or
nominated, as the case may be, to serve on the Compensation Committee, such Steiner Director shall qualify as “independent” pursuant to the listing standards of Nasdaq. 

Section 2. Reserved. 

Section 3. D&O Insurance. Dory Parent shall (i) purchase directors’ and officers’ liability insurance in an
amount determined by the Dory Parent Board to be reasonable and customary and (ii) for so long as any director designated pursuant to the terms of this Agreement serves as a director of the Dory Parent Board, maintain such coverage with respect
to such director; provided, that upon removal or resignation of such director for any reason, Dory Parent shall take all actions reasonably necessary to extend such directors’ and officers’ liability insurance coverage for a
period of not less than six (6) years from any such event in respect of any act or omission occurring at or prior to such event. 

Section 4. Definitions and Interpretation. As used herein, the following terms shall have the following meanings: 

“beneficially own” has the meaning ascribed to it in Section 13(d) of the Exchange Act. 

“Company Sale” means an acquisition by any Person or “group” (as defined in Section 13(d)(3) of the Exchange
Act) of any Equity Securities (or beneficial ownership thereof), including rights or options to acquire such ownership, tender or exchange offer, merger, consolidation, amalgamation, scheme of arrangement, business combination, issuance,
recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction with or involving Dory Parent or any of its Affiliates, in each case as a result of which such Person or “group” would beneficially own securities
representing more than 50.00% of the Equity Securities (by voting power or economic rights, including upon exercise, exchange or conversion of any other security) of Dory Parent. For the avoidance of doubt, the transactions contemplated by the
Business Combination Agreement shall not constitute a Company Sale. 

  
 3 

 “Equity Securities” means, as applicable, (a) any capital stock,
membership interests or other share or equity capital, (b) any securities directly or indirectly convertible into or exchangeable for any capital stock, membership interests or other share or equity capital or containing any profit
participation features, (c) any rights or options directly or indirectly to subscribe for or to purchase any capital stock, membership interests, other share or equity capital or securities containing any profit participation features or to
subscribe for or to purchase any securities directly or indirectly convertible into or exchangeable for any capital stock, membership interests, other share or equity capital or securities containing any profit participation features, (d) any
share appreciation rights, phantom share rights or other similar rights, or (e) any Equity Securities issued or issuable with respect to the securities referred to in clauses (a) through (d) above in connection with a combination of
shares, recapitalization, merger, consolidation or other reorganization. 
 “Permitted Transferee’ means any Person to whom
any Dory Parent Common Shares initially held by Steiner Leisure are transferred who, at the time of such transfer, is an Affiliate of such Person. Notwithstanding the foregoing, Steiner Leisure and its Permitted Transferees shall not make one or
more transfers to one or more Permitted Transferees and then dispose of all or any portion of their interests in any such Permitted Transferee for the purpose or with the effect of circumventing the terms of this Agreement (in which case, such
Permitted Transferee shall cease to constitute a Permitted Transferee). 
 “Steiner Director” means, collectively, the
Initial Steiner Designee and any other individual elected or appointed to the Board that has been designated by Steiner Leisure pursuant to this Agreement. 

“Steiner Holders” means, collectively, (a) Steiner Leisure and (b) any Permitted Transferee of Dory Parent Common
Shares. 
 Section 5. Essential Consideration. The parties hereto acknowledge and agree that the rights and obligations of the
parties hereunder, including under Sections 1 through 3, are given in consideration for the rights and obligations undertaken under the Business Combination Agreement and the Ancillary Documents, and without limiting
the generality of the foregoing, constitute essential and integral consideration to the parties hereto for their execution or authorization of, as applicable, the Business Combination Agreement and the Ancillary Documents. 

Section 6. Assignment; Benefit of Parties; Transfer. No party hereto may assign this Agreement or any of its rights or obligations
hereunder and any assignment hereof will be null and void, except that Steiner Leisure and any of its permitted successors or assigns may assign, in whole or in part, this Agreement or its rights and obligations under this Agreement to any Permitted
Transferee; provided, that any such assignee executes a joinder agreement (in form and substance reasonably satisfactory to Dory Parent) pursuant to which such assignee agrees to be bound by the terms hereof, provided, further,
that only the holders of a majority of the Dory Parent Common Shares held by all such transferees, as determined in good faith by the Dory Parent, shall be entitled to take any action under this Agreement that the Steiner Holders are entitled to
take. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors, legal representatives and assignees for the uses and purposes set forth and

  
 4 

 
referred to herein and, for the avoidance of doubt, any references to Steiner Leisure shall, as the context requires, refer to any permitted assignees of Steiner Leisure’s rights and/or
obligations hereunder. 
 Section 7. Remedies. Except as otherwise expressly provided herein, any and all remedies provided
herein will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party hereto, and the exercise by a party hereto of any one remedy will not preclude the exercise of any other remedy. The
parties hereto agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that the parties hereto do not perform their respective obligations under the provisions of this
Agreement in accordance with their specific terms or otherwise breach such provisions. It is accordingly agreed that the parties hereto shall be entitled to seek an injunction or injunctions, specific performance and other equitable relief to
prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, in each case without posting a bond or undertaking and without proof of damages and this being in addition to any other remedy to which they
are entitled at law or in equity. Each of the parties hereto agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant to the terms of this Agreement on the basis
that the other parties have an adequate remedy at law or an award of specific performance is not an appropriate remedy for any reason at law or equity. 

Section 8. Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be
given (and shall be deemed to have been duly given upon receipt) by delivery in person, by facsimile (having obtained electronic delivery confirmation thereof), e-mail (having obtained electronic delivery
confirmation thereof), or by registered or certified mail (postage prepaid, return receipt requested) to the other parties hereto as follows: 
  

	 	(a)	 If to Steiner Leisure or, prior to the Closing, Dory Parent, to: 

 

			
	 c/o Catterton Management Company

Catterton Management Company L.L.C.

599 West Putnam Avenue

Greenwich, CT 06830

	 Attention:
	  	 J. Michael Chu
 Marc Magliacano

Dave McPherson

	 Facsimile:
	  	(203) 629-4903
	 E-mail:
	  	 Michael.Chu@lcatterton.com

Marc.Magliacano@lcatterton.com

Dave.McPherson@lcatterton.com

  
 5 

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

 

			
	 Kirkland & Ellis LLP
 601
Lexington Avenue
 New York, NY 10022

	Attention:	  	 Joshua Kogan, P.C.
 Ryan
Brissette

	Facsimile:	  	(212) 446-6460
	E-mail:	  	 joshua.kogan@kirkland.com

ryan.brissette@kirkland.com

  

	 	(b)	 If to HYAC or, after the Closing, Dory Parent, to: 

 

			
	c/o Haymaker Acquisition Corp.
	650 Fifth Avenue, Floor 10
	New York, NY 10019
	Attn:	  	Christopher Bradley
	Email:	  	cbradley@mistralequity.com

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

DLA Piper LLP (US) 
 1251 Avenue
of the Americas, 27th Floor 
 New York, NY 10020 

			
	Attention:	  	 Sidney Burke
 Richard Rubano

	Facsimile:	  	(212) 335-4501
	E-mail:	  	sidney.burke@dlapiper.com
		  	richard.rubano@dlapiper.com

 or to such other address as the Party to whom notice is given may have previously furnished to the others in writing in
the manner set forth above. 
 Section 9. Adjustments. If, and as often as, there are any changes in the Dory Parent Common
Shares by way of stock split, stock dividend, combination or reclassification, or through merger, consolidation, reorganization, recapitalization or sale, or by any other means, appropriate adjustment shall be made in the provisions of this
Agreement, as may be required, so that the rights, privileges, duties and obligations hereunder shall continue with respect to the Dory Parent Common Shares as so changed. 

Section 10. No Strict Construction. Section 10.6 of the Business Combination Agreement is incorporated herein by reference,
mutatis mutandis. 
 Section 11. No Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended
or shall be construed to confer upon, or give to, any person or entity other than the parties hereto and their respective successors and assigns any remedy or claim under or by reason of this Agreement or any terms, covenants or conditions hereof,
and all of the terms, covenants, conditions, promises and agreements contained in this Agreement shall be for the sole 

  
 6 

 
and exclusive benefit of the parties hereto and their respective successors and assigns. Notwithstanding anything to the contrary in this Agreement, each Steiner Director shall be an express
third-party beneficiary of the provisions set forth in Section 1(e) and Section 3. 

Section 12. Further Assurances. Each of the parties hereby agrees that it will hereafter execute and deliver any further document,
agreement, instruments of assignment, transfer or conveyance as may be necessary or desirable to effectuate the purposes hereof. 

Section 13. Expenses. Except as otherwise expressly set forth herein or in the Business Combination Agreement, each of the parties
hereby agrees that each party shall bear any fees and expenses incurred by or on behalf of, or paid or payable by, such party as a result of or in connection with this Agreement and the transactions contemplated herein. 

Section 14. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile, e-mail, or scanned pages shall be effective as
delivery of a manually executed counterpart to this Agreement. 
 Section 15. Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provisions or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application
of the law of any jurisdiction other than the State of Delaware. 
 Section 16. Jurisdiction; Venue; Waiver of Jury Trial. 

(a) Each party hereto (a) irrevocably consents to the service of the summons and complaint and any other process in any action or
proceeding relating to the transactions contemplated by this Agreement, for and on behalf of itself or any of its properties or assets, in accordance with this Section 16(a) or in such other manner as may be permitted by
applicable Law, that such process may be served in the manner of giving notices in Section 8 and that nothing in this Section 16(a) shall affect the right of any party hereto to serve legal process
in any other manner permitted by applicable law, (b) irrevocably and unconditionally consents and submits itself and its properties and assets in any action or proceeding to the exclusive general jurisdiction of the Court of Chancery of the
State of Delaware (the “Chancery Court”) and any state appellate court therefrom located within the State of Delaware (or, only if the Chancery Court declines to accept jurisdiction over a particular matter, any state or federal
court within the State of Delaware) in the event any dispute or controversy arises out of this Agreement or the transactions contemplated hereby, or for recognition and enforcement of any Order in respect thereof, (c) agrees that it will not
attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (d) agrees that any actions or proceedings arising in connection with this Agreement or the transactions contemplated hereby shall be
brought, tried and determined only in the Chancery Court and any state appellate court therefrom located within the State of Delaware (or, only if the Chancery Court declines to accept jurisdiction over a particular matter, any state or federal
court within the State of Delaware), (e) waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees
not to plead or 

  
 7 

 
claim the same and (f) agrees that it will not bring any action relating to this Agreement or the transactions contemplated hereby in any court other than the aforesaid courts. Each party
hereto agrees that a final Order in any action or proceeding in such courts as provided above shall be conclusive and may be enforced in other jurisdictions by suit on the Order or in any other manner provided by applicable Law. 

(b) THE PARTIES HERETO EACH HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR
CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER
NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE PARTIES HERETO EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND
THAT THE PARTIES HERETO MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

Section 17. Complete Agreement; Inconsistent Agreements. This Agreement, together with the Business Combination Agreement, the
Dory Parent Governing Documents and the other Ancillary Documents, represent the complete agreement between the parties hereto as to all matters covered hereby, and supersede any prior agreements or understandings between the parties. In the event
of any conflict between the terms of this Agreement and the Business Combination Agreement, the Dory Parent Governing Documents and/or the other Ancillary Documents, the terms of this Agreement shall govern and control. 

Section 18. Severability. Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be
effective and valid under applicable Law, but if any term or other provision of this Agreement is held to be invalid, illegal or unenforceable under applicable Law, all other provisions of this Agreement shall remain in full force and effect so long
as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such determination that any term or other provision of this Agreement is invalid, illegal or
unenforceable under applicable Law, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner in order that the transactions
contemplated hereby are consummated as originally contemplated to the greatest extent possible. 
 Section 19. Amendment and
Waiver. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this Agreement shall be effective against any party hereto unless such modification is approved in writing by such party. The failure of any
party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its
terms. 

  
 8 

 Section 20. Termination. This Agreement shall terminate, and be of no further
force and effect, upon the earliest to occur of: (a) the termination of the Business Combination Agreement in accordance with the terms thereof; (b) the consummation of a Company Sale; (c) mutual written consent of the parties hereto;
and (d) Steiner Leisure beneficially owns less than 5.00% of the issued and outstanding Dory Parent Common Shares; provided, that Section 1(e), Section 1(g),
Section 3 and Sections 4 through 20 (to the extent related to the foregoing) shall not terminate upon the occurrence of the event described in clause (d) and shall continue to be in full force and effect
(notwithstanding clause (d)) until any the time at which the Steiner Director no longer serves as a director of Dory Parent. 
 [SIGNATURE
PAGES FOLLOW] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year
first written above. 
  

			
	Dory Parent:
	
	ONESPAWORLD HOLDINGS LIMITED

 
			
		
	By:	 	 /s/ Leonard Fluxman

 
			
	Name:	 	Leonard Fluxman
	Title:	 	President and CEO
	
	HYAC:
	
	HAYMAKER ACQUISITION CORP.

 
			
		
	By:	 	 /s/ Christopher Bradley

 
			
	Name:	 	Christopher Bradley
	Title:	 	CFO
	
	Steiner Leisure:
	
	STEINER LEISURE LIMITED

 
			
		
	By:	 	 /s/ Leonard Fluxman

 
			
	Name:	 	Leonard Fluxman
	Title:	 	President and CEO

 [Signature Page to Director Designation Agreement]

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