Document:

Exhibit 10.5

 

FORM OF UNIT SUBSCRIPTION AGREEMENT

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT (this
 “Subscription Agreement”) is entered into this March 8, 2022, by and among SatixFy Communications Ltd., a company
organized under the laws of the State of Israel (the “Issuer”), Endurance Acquisition Corp., a Cayman Islands
exempted company (the “SPAC”), Endurance Antarctica Partners, LLC, a Cayman Islands limited liability company
(the “Sponsor”) and the undersigned (“Subscriber” or “you”). Defined terms
used but not otherwise defined herein shall have the respective meanings ascribed thereto in the Business Combination Agreement (as
defined below).

 

WHEREAS, the Issuer, SatixFy MS, a Cayman
exempted company and a wholly owned subsidiary of the Issuer (the “Merger Sub”), and SPAC, will, immediately
following the execution of this Subscription Agreement, enter into that certain Business Combination Agreement, dated as of March
8, 2022 substantially in the form provided to the Subscriber (as amended, modified, supplemented or waived from time to time in
accordance with its terms, the “Business Combination Agreement”), pursuant to which, inter alia, the Merger Sub
will be merged with and into the SPAC, with the SPAC surviving as a wholly owned subsidiary of the Issuer (the “Business
Combination”), on the terms and subject to the conditions set forth therein (the Business Combination, together with the
other transactions contemplated by the Business Combination Agreement, the “Transactions”);

 

WHEREAS, in connection with the Transactions, Subscriber
desires to subscribe for and purchase from the Issuer, and the Issuer desires to issue and sell to Subscriber in consideration of the
payment of the Purchase Price therefor by or on behalf of Subscriber to the Issuer, that number of units (the “Units”)
consisting of (i) one (1) ordinary share of the Issuer, par value NIS 0.0001 per share (the “Ordinary Shares”, and
such Ordinary Shares to be purchased as part of the Units, the “Shares”) and (ii) one-half of one redeemable warrant
(a “Warrant”), set forth on Subscriber’s signature page hereto, for a purchase price of $10.00 per unit (the
 “Price Per Unit”). The aggregate purchase price to be paid by the Investor for the subscribed Units (as set forth on
the signature page hereto) is referred to herein as the “Purchase Price”;

 

WHEREAS, each whole Warrant included in the Units
will entitle the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment and on the terms
and subject to the limitations described in the warrant agreement attached as Exhibit A hereto (the “Warrant Agreement”);

 

WHEREAS, the Units, Shares, and the Ordinary Shares
underlying the Warrants are referred to herein as the “PIPE Securities” and the Shares, the Ordinary Shares underlying
the Warrants and the Warrants are referred to herein as the “Listed Securities”;

 

WHEREAS, the Units are being offered to
facilitate the subscriptions; however, the Shares and the Warrants which comprise the Units are not attached and will trade
separately without any instruction or detachment obligations on the part of the Investor, Issuer or the Warrant Agent (as defined in
the Warrant Agreement); and

 

WHEREAS, certain other “qualified
institutional buyers” (as defined in Rule 144A under the Securities Act of 1933, as amended and the rules and regulations
promulgated thereunder (the “Securities Act”)), “accredited investors” (within the meaning of Rule
501(a) under the Securities Act) or investors that qualify under one of the categories of investors listed in the First Addendum to
the Israeli Securities Law, 5728-1968 (the “Securities Law”) (each, an “Other Subscriber”)
have, severally and not jointly, entered into separate subscription agreements with the Issuer (the “Other Subscription
Agreements”) substantially similar to this Subscription Agreement, pursuant to which each such Other Subscriber has agreed
to purchase Units at the Closing (as defined below) at the same Price Per Unit as the Subscriber, and the aggregate amount of Units
to be sold by the Issuer pursuant to this Subscription Agreement and the Other Subscription Agreements equals, as of the date
hereof, 2,910,000 Units, representing 2,910,000 Shares and 1,455,000 Warrants.

 

     

     

    

 

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.            
Closing Subscription. Subject to the terms and conditions hereof, at the Closing, Subscriber hereby irrevocably agrees to
subscribe for and purchase, and the Issuer hereby irrevocably agrees to issue and sell to Subscriber, upon the payment of the Purchase
Price, the Units (such subscription and issuance, the “Subscription”). It is understood and agreed that the Units are
being offered to facilitate the Subscription; however, the Shares and the Warrants which comprise the Units are not attached and will
trade separately without any instruction or detachment obligations on the part of the Investor, Issuer or the Warrant Agent (as defined
in the Warrant Agreement).

 

2.            
Additional Shares

 

(a)            Upon
and subject to the Closing, Issuer and Continental Stock Transfer & Trust Company, in its capacity as the escrow agent (the
 “Escrow Agent”), shall enter into an escrow agreement in a form mutually satisfactory to the Issuer and
Subscriber (the “Escrow Agreement”), pursuant to which the Issuer shall cause to be delivered to the Escrow Agent
on the Closing Date immediately after Issuer has effected a stock issuance prior to the Effective Time, on the terms contemplated by
the Business Combination Agreement, (i) 1,175,192 Ordinary Shares otherwise issuable to the Issuer Shareholders as part of the stock
issuance and (ii) 391,731 Ordinary Shares on behalf of the Sponsor out of the Ordinary Shares otherwise issuable to the Sponsor at
the Closing (which the Sponsor hereby directs the Issuer to deliver on its behalf to the Escrow Agent, in each case which shall be
set aside in an account to be held in escrow (the “Escrow Account”). The Ordinary Shares delivered into the
Escrow Account, as long as they remain in the Escrow Account, shall be referred to as the “Escrow Shares”, and
shall be held in escrow for the duration of the Measurement Period (as defined herein) and disbursed in accordance with the terms of
this Subscription Agreement and the Escrow Agreement and, as applicable, in accordance with the pro rata portions of the applicable
Issuer Shareholder and the Sponsor (as applicable, the “Pro Rata Portion”) set out on the allocation schedule
attached hereto as Schedule I (the “Allocation Schedule”).
The parties will take all necessary action so that (i) the Escrow Shares shall appear as issued and outstanding on the balance sheet
of the Issuer and shall be legally outstanding under applicable Law, (ii) all dividends paid on the Escrow Shares shall be
distributed currently to the persons who would be entitled on the relevant record date (assuming the Measurement Period would have
ended on the Trading Day immediately prior to such day) to receive such Escrow Shares assuming a full release of such Escrow Shares
to the holders thereof pursuant to this Section on such date, and (iii) all voting rights in respect of such Escrow Shares while
they are held in the Escrow Account shall be exercisable by or on behalf of the persons who would be entitled on the relevant record
date (assuming the Measurement Period would have ended on the Trading Day immediately prior to such day) to receive such Escrow
Shares assuming a full release of such Escrow Shares to the holders thereof pursuant to this Section on such date.

 

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(b)            In
the event that the average VWAP over the Measurement Period (the “Measurement Period VWAP”), is less than $10.00
per Ordinary Share, then (i) Subscriber shall be entitled to receive a number of additional Ordinary Shares equal to the product of
(x) the number of Shares issued to Subscriber at the Closing as part of the Units that Subscriber holds through the Measurement
Date (as defined below), multiplied by (y) a fraction, (A) the numerator of which is $10.00 (as adjusted for any stock split,
reverse stock split or similar adjustment following the Closing of the Transactions) minus the Measurement Period VWAP, and (B) the
denominator of which is the Measurement Period VWAP (such additional Ordinary Shares, “Additional Shares”), and
(ii) Issuer will direct the Escrow Agent to promptly (but in any event within five (5) Business Days) after the Measurement Date,
release the Additional Shares in the Escrow Account to the Issuer for issuance to the Subscriber; provided that in the event
the Measurement Period VWAP is less than $6.50, the Measurement Period VWAP for purposes of this calculation shall be deemed to be
$6.50; provided further that in no event shall the Additional Shares issued to Subscriber and the Other Subscribers, in the
aggregate, exceed the Escrowed Shares. For the avoidance of doubt, the Subscriber and Other Subscribers, in the aggregate, shall
only be entitled to received Escrowed Shares and no other form of securities. Notwithstanding anything to the contrary herein, no
fraction of an Ordinary Share will be delivered pursuant to this Section 2, and if a Subscriber would otherwise be entitled to a
fraction of an Ordinary Share, such Subscriber shall instead have the number of Additional Shares issued to such Subscriber rounded
down to the nearest whole Ordinary Share. If any Escrow Shares remain in the Escrow Account after transfer to Issuer of the Ordinary
Shares sufficient to satisfy in full of the obligation to deliver Additional Shares to Subscriber and the Other Subscribers, in the
aggregate, such remaining Escrow Shares shall be released to the Issuer Shareholders and the Sponsor in accordance with each
Persons’ Pro Rata Portion as set forth on an updated Allocation Schedule.

 

(c)           
In the event the Measurement Period VWAP is equal to or more than $10.00 per Ordinary Share, then the Issuer will instruct the
Escrow Agent to promptly (but in any event within five (5) Business Days) after the Measurement Date, release all the Escrow Shares in
the Escrow Account to the Issuer, Shareholders and the Sponsor, in accordance with such Persons’ Pro Rata Portion as set forth on
an updated Allocation Schedule.

 

(d)           
For the purposes of this Subscription Agreement, (i) the “Measurement Period” means the period of thirty (30)
consecutive calendar days ending on the sixtieth (60th) day after the Effectiveness Date of the Registration Statement, (ii)
the “Measurement Date” means the last day of the Measurement Period, (iii) “Trading Day” means any
day on which (A) there is no VWAP Market Disruption Event; and (B) trading in the Ordinary Shares generally occurs on the Stock Exchange
or, if the Ordinary Shares are not then listed on the Stock Exchange, on the principal other market on which the Ordinary Shares are then
traded, or if the Ordinary Shares are not so listed or traded, then “Trading Day” means a business day, (iv) VWAP Market
Disruption Event means, with respect to any date, (A) the failure by the Stock Exchange, or, if the Ordinary Shares are not then listed
on the Stock Exchange, the principal other market on which the Ordinary Shares are then traded, to open for trading during its regular
trading session on such date or (B) the occurrence or existence, for more than a one half hour period in the aggregate, of any suspension
or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in
the Ordinary Shares or in any options contracts or future contracts relating to the Ordinary Shares, and such suspension or limitation
occurs or exists at any time before 1:00 p.m., New York City time, on such date and (v) VWAP means, for any Trading Day, the per
share volume weighted average price of the Ordinary Shares as displayed under the heading “Bloomberg VWAP” on the applicable
Bloomberg page (or, if such page is not available, its equivalent successor pate) in respect of the period from the scheduled open of
trading until the scheduled close of trading of the primary trading session on such Trading Day (or, if such volume weighted average price
is unavailable, the market value of one share of the Ordinary Shares on such Trading Day, determined, using a volume weighted average
price method, by a nationally recognized independent investment banking firm selected by the Issuer). The VWAP will be determined without
regard to after-hours trading or any other trading outside of the regular trading session.

 

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(e)            Subject
to Section ‎2(f), Subscriber
acknowledges and agrees that, notwithstanding anything in this Agreement to the contrary, (i) its right to Additional Shares
pursuant to Section ‎2(b) and (ii) any
Additional Shares issued to Subscriber pursuant to Section ‎2(b)
((i) and (ii) collectively, the “Lock-up Interests”) shall not be assignable or transferrable by Subscriber
through the Measurement Date.

 

(f)           
Notwithstanding the provisions set forth in Section ‎2(e),
Subscriber may transfer the Lock-up Interests prior to the Measurement Date (i) to any affiliates of the Subscriber, (ii) by virtue of
the Subscriber’s certificate of incorporation or bylaws (or equivalent) upon dissolution of the Subscriber; (iii) in connection
with a bona fide gift or charitable contribution without consideration; (iv) with the written consent of the board of directors of the
Issuer or (v) in connection with a liquidation, merger, stock exchange, reorganization, tender offer or other similar transaction, in
each case in this clause (v) as approved by the board of directors of the Issuer or a duly authorized committee thereof, which results
in all of the Issuer’s stockholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent
to the Closing Date; provided that as a condition to any such transfer such transferee agrees to be bound to this Agreement as
if it were the Subscriber hereunder.

 

3.            
Representations, Warranties and Agreements.

 

(a)           
Subscriber’s Representations, Warranties and Agreements. To induce the Issuer to issue the Units to Subscriber, Subscriber
hereby represents and warrants to the Issuer and acknowledges and agrees with the Issuer, as of the date hereof and as of the Closing,
as follows:

 

(i)           
If Subscriber is not an individual, Subscriber has been duly formed or incorporated and is validly existing in good standing (if
the concept of good standing is applicable) 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.

 

(ii)           
If Subscriber is not an individual, this Subscription Agreement has been duly authorized, validly 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. Assuming this Subscription Agreement constitutes the valid and binding agreement of the other parties hereto, then
this Subscription Agreement is the valid and binding obligation of Subscriber, enforceable against Subscriber in accordance with its terms,
except as may be limited or otherwise affected by (A) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other
laws relating to or affecting the rights of creditors generally, and (B) principles of equity, whether considered at law or equity.

 

(iii)           
 The execution, delivery and performance by Subscriber of this Subscription Agreement (including compliance by Subscriber with
all of the provisions hereof) and the consummation of the transactions contemplated herein do not and will not (A) 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, as applicable, pursuant
to the terms of any indenture, mortgage, charge, deed of trust, loan agreement, lease, license or other agreement or instrument to which
Subscriber or any of its subsidiaries, as applicable, is a party or by which Subscriber or any of its subsidiaries, as applicable, is
bound or to which any of the property or assets of Subscriber or any of its subsidiaries, as applicable, is subject, in each case, which
would reasonably be expected to prevent or delay Subscriber’s timely performance of its obligations under this Subscription Agreement
(a “Subscriber Material Adverse Effect”), (B) if Subscriber is not an individual, result in any violation of the provisions
of the organizational documents of Subscriber or any of its subsidiaries, as applicable, or (C) 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, as applicable, or any of their respective properties that would reasonably be expected to have
a Subscriber Material Adverse Effect.

 

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(iv)            Subscriber
(A) if not an Israeli resident or entity, is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act or an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act)
satisfying the applicable requirements set forth on Schedule I, (B) if an Israeli resident or entity, is an investor in one of the
categories of investors listed in the First Addendum to the Israeli Securities Law and set forth in Schedule I and satisfies
the applicable requirements set forth on Schedule I, and by signing below confirms that it is fully familiar, following
advice of its own legal counsel, with the implications of being such an investor that is investing in the Units and agrees to such
implications, (C) is acquiring the Units only for its own account and not for the account of others, or if Subscriber is subscribing
for the Units as a fiduciary or agent for one or more investor accounts, each owner of such account is a qualified institutional
buyer or an institutional accredited investor and Subscriber has full investment discretion with respect to each such account, and
the full power and authority to make the acknowledgements, representations, warranties and agreements herein on behalf of each owner
of each such account, for investment purposes only and not with a view to any distribution of the Units in any manner that would
violate the federal securities laws of the United States or any other applicable jurisdiction (and shall provide the requested
information on Schedule I following the signature page hereto). Subscriber is not an entity formed for the specific purpose
of acquiring the Units.

 

(v)           
Subscriber understands that the Units are being offered in a transaction not involving any public offering within the meaning of
the Securities Act and the Securities Law, and that the Units have not been registered under the Securities Act or the Securities Law.
Subscriber understands that (A) the Units and the underlying securities may not be resold, transferred, pledged or otherwise disposed
of by Subscriber absent an effective registration statement under the Securities Act, except (1) to the Issuer or a subsidiary thereof,
(2) to non-U.S. persons pursuant to offers and sales that occur solely outside the United States within the meaning of Regulation S under
the Securities Act or (3) pursuant to another applicable exemption from the registration requirements of the Securities Act, and in each
of cases (1) and (3), in accordance with any applicable securities laws of the states and other jurisdictions of the United States, (B)
the Units and the underlying securities may be subject to transfer restrictions under the Securities Law, and (C) any certificates or
book entries representing the Units and the underlying securities shall contain a legend to such effect. Subscriber acknowledges that
the Units and the underlying securities will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. Subscriber
understands and agrees that the Units and the underlying securities will be subject to the foregoing restrictions and, as a result of
these restrictions, Subscriber may not be able to readily resell the Shares and may be required to bear the financial risk of an investment
in the Shares 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 Units.

 

(vi)           
Subscriber understands and agrees that Subscriber is purchasing the Units directly from the Issuer. Subscriber acknowledges that
there have been no representations, warranties, covenants or agreements made to Subscriber by the Issuer, the SPAC, the Placement Agents
or any of their respective affiliates, officers or directors, expressly or by implication, other than those representations, warranties,
covenants and agreements expressly set forth in this Subscription Agreement, and Subscriber is not relying on any representations, warranties
or covenants other than those expressly set forth in this Subscription Agreement. Subscriber further acknowledges that the Placement Agents
and their affiliates may have acquired non-public information with respect to the Issuer and the SPAC which Subscriber agrees need not
be provided to it.

 

(vii)           
If Subscriber is an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), Subscriber represents and warrants that its acquisition and holding of the Units will not constitute
or result in a non-exempt prohibited transaction under Section 406 of ERISA, Section 4975 of the Internal Revenue Code of 1986, as amended
(the “Code”), or any applicable similar law.

 

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(viii)            In
making its decision to purchase the Units, Subscriber represents that it has relied solely upon independent investigation made by
Subscriber and its own sources of information, investment analysis and due diligence (including professional advice it deems
appropriate) and the Issuer’s express representations and warranties in Section ‎3(b)
hereof. Without limiting the generality of the foregoing, Subscriber has not otherwise relied on any representations, warranties,
statements or other information provided by anyone. Subscriber acknowledges and agrees that Subscriber (A) has received, and has had
an adequate opportunity to review, such financial and other information as Subscriber deems necessary in order to make an investment
decision with respect to the Units (including with respect to the Issuer, the SPAC and the Transactions), (B) has made its own
assessment and (C) is satisfied concerning the relevant tax and other economic considerations relevant to the Subscriber’s
investment in the Units. Subscriber acknowledges that it has reviewed the documents made available to the Subscriber by or on behalf
of the Issuer. 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 Subscriber’s
professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Units. Subscriber
acknowledges that Barclays Capital Inc. and Cantor Fitzgerald & Co. (collectively, the “Placement Agents”)
and their respective directors, officers, employees, representatives and controlling persons have made no independent investigation
with respect to the Issuer, the SPAC or the Units or the accuracy, completeness or adequacy of any information supplied to the
Subscriber by the Issuer or the SPAC. Subscriber acknowledges that (1) it has not relied on any statements or other information
provided by the Placement Agents or any of the Placement Agents’ affiliates with respect to its decision to invest in the
Units (including information related to the Issuer, the SPAC, or the Units) and the offer and sale of the Units, and (2) neither the
Placement Agents nor any of their affiliates have prepared any disclosure or offering document in connection with the offer and sale
of the Units. Subscriber acknowledges that the information provided to Subscriber is preliminary and subject to change, and that any
changes to such information, including any changes based on updated information or changes in terms of the Transaction, shall in no
way affect the Subscriber’s obligation to purchase the Units hereunder. Subscriber further acknowledges and agrees that none
the Placement Agents, their respective affiliates or any control persons, officers, directors, employees, partners, agents or
representatives of any of the foregoing shall have any liability to Subscriber, or to any other subscriber, pursuant to, arising out
of or relating to this Subscription Agreement or any Other Subscription Agreement related to the private placement of the PIPE
Securities, the negotiation hereof or thereof or its subject matter, or the transactions contemplated hereby or thereby, including,
without limitation, with respect to any action heretofore or hereafter taken or omitted to be taken by any of them in connection
with the purchase of the PIPE Securities or with respect to any claim (whether in tort, contract or otherwise) for breach of this
Subscription Agreement or in respect of any written or oral representations made or alleged to be made in connection herewith, as
expressly provided herein, or for any actual or alleged inaccuracies, misstatements or omissions with respect to any information or
materials of any kind furnished by the Issuer, the SPAC, the Placement Agents or any Non-Party Affiliate concerning the Issuer, the
SPAC, the Placement Agents, any of their controlled affiliates, this Subscription Agreement or the transactions contemplated hereby.
For purposes of this Subscription Agreement, “Non-Party Affiliates” means each former, current or future officer,
director, employee, partner, member, manager, direct or indirect equityholder or affiliate of the Issuer, the SPAC, the Placement
Agents or any of the Issuer’s, the SPAC’s or the Placement Agents’ controlled affiliates or any family member of
the foregoing.

 

(ix)           
Subscriber became aware of this offering of the Units solely by means of direct contact from either the Placement Agents, the Issuer
or the SPAC as a result of a pre-existing substantive relationship (as interpreted in guidance from the Securities and Exchange Commission
(the “Commission”) under the Securities Act) with the Issuer, the SPAC or their respective representatives (including
the Placement Agents), and the Units were offered to Subscriber solely by direct contact between Subscriber and the Placement Agents,
the Issuer or the SPAC. Subscriber did not become aware of this offering of the Units, nor were the Units offered to Subscriber, by any
other means. Subscriber acknowledges that the Placement Agents have not acted as its financial advisor or fiduciary. Subscriber acknowledges
that the Units (A) were not offered by any form of general solicitation or general advertising, including methods described in section
502(c) of Regulation D under the Securities Act, and (B) 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 or foreign securities laws.

 

(x)            Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Units. 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 Units, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an
informed investment decision. Subscriber acknowledges that Subscriber shall be responsible for any of the Subscriber’s tax
liabilities that may arise as a result of the transactions contemplated by this Subscription Agreement, and that neither the SPAC or
the Issuer, nor any of their respective agents or affiliates, have provided any tax advice or any other representation or guarantee,
whether written or oral, regarding the tax consequences of the transactions contemplated by this Subscription Agreement. Subscriber
understands and acknowledges that the purchase and sale of the Units hereunder meets (A) the exemptions from filing under FINRA Rule
5123(b)(1)(A) and (B) the institutional customer exemption under FINRA Rule 2111(b).

 

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(xi)           
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 Units and determined that the Units 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 Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

 

(xii)           
Subscriber understands and agrees that no federal, state or foreign agency has passed upon or endorsed the merits of the offering
of the Units or made any findings or determination as to the fairness of an investment in the Units, nor upon the accuracy or adequacy
of the SPAC’s reports, schedules, forms, statements and other documents required to be filed by the SPAC under the Securities Act
and the Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder (the “Exchange Act”),
including pursuant to Section 13(a) or 15(d) thereof.

 

(xiii)            Subscriber
represents and warrants that neither Subscriber nor any of its officers, directors, managers, managing members, general partners or
any other person acting in a similar capacity or carrying out a similar function is (i) a person or entity named on the List of
Specially Designated Nationals and Blocked Persons (“SDN List”) or any other similar list of sanctioned persons,
each of which administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or
in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC List”), or a
person or entity otherwise blocked by any OFAC sanctions program or the U.S. Department of State or (ii) directly or indirectly
owned or controlled by, or acting on behalf of, a person that is name on an OFAC List, (iii) organized, incorporated, established,
located, resident or born in, or a citizen, national or the government, including any political subdivision, agency, or
instrumentality thereof, of Cuba, Iran, North Korea, Syria, Lebanon, Venezuela, the Crimea region of Ukraine, Russia, or any other
country or territory embargoed or subject to substantial trade restrictions by the United States or the State of Israel, (iv) a
Designated National as defined in the Cuban Assets Control Regulations or (v) a non-US shell bank or providing banking services
indirectly to a non-US shell bank (collectively, a “Prohibited Investor”). Subscriber agrees to provide law
enforcement agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted
to do so under applicable law. Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31
U.S.C. Section 5311 et seq.) (as amended, the “BSA”), as amended by the USA PATRIOT Act of 2001 (as amended, 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. If
Subscriber is not an individual, Subscriber also represents that, to the extent required, it maintains policies and procedures
reasonably designed for the screening of its investors against the OFAC-administered sanctions programs, including the SDN List.

 

(xiv)           
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 Units were derived legally and in compliance with OFAC sanctions
programs and were not obtained, directly or indirectly, from a Prohibited Investor.

 

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(xv)            If
Subscriber is an employee benefit plan that is subject to Title I of ERISA, a plan, an individual retirement account or other
arrangement that is subject to section 4975 of the Code or an employee benefit plan that is a governmental plan (as defined in
section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of
ERISA) or other plan that is not subject to the foregoing but may be subject to provisions under any other federal, state, local,
non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (“Similar Laws”) ,
or an entity whose underlying assets are considered to include” of any such plan, account or arrangement (each, a
 “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA or section 4975 of the Code,
Subscriber represents and warrants that (i) neither the Issuer nor any of its affiliates (collectively, the “Transaction
Parties”) has acted as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to
acquire and hold the Units, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with
respect to any decision to acquire, continue to hold or transfer the Units or (ii) the decision to invest in the Units has been made
at the recommendation or direction of an “independent fiduciary” (“Independent Fiduciary”) within the
meaning of US Code of Federal Regulations 29 C.F.R. section 2510.3 21(c), as amended from time to time (the “Fiduciary
Rule”) who is (1) independent of the Transaction Parties; (2) is capable of evaluating investment risks
independently, both in general and with respect to particular transactions and investment strategies (within the meaning of the
Fiduciary Rule); (3) is a fiduciary (under ERISA and/or section 4975 of the Code) with respect to Subscriber’s investment in
the Units and is responsible for exercising independent judgment in evaluating the investment in the Securities; and (4) is
aware of and acknowledges that (A) none of the Transaction Parties is undertaking to provide impartial investment advice, or to
give advice in a fiduciary capacity, in connection with the purchaser’s or transferee’s investment in the Securities,
and (B) the Transaction Parties have a financial interest in the purchaser’s investment in the Units on account of the
fees and other remuneration they expect to receive in connection with transactions contemplated by this Subscription Agreement.

 

(xvi)           
Subscriber is not currently (and at all times through Closing will refrain from being or becoming) a member of a “group”
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) acting for the purpose of
acquiring, holding or disposing of equity securities of the Issuer (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other
than a “group” comprised solely of affiliates of Subscriber.

 

(xvii)           
If Subscriber is a foreign person (as defined in 31 C.F.R. § 800.224) and is acquiring a substantial interest (as defined
in 31 C.F.R. § 800.244) in the Issuer, no national or subnational government of a single foreign state has a substantial interest
(as defined in 31 C.F.R. § 800.244) in the Subscriber. No Subscriber who is a foreign person (as defined in 31 C.F.R. § 800.224)
will acquire control (as defined in 31 C.F.R. § 800.208) of the Issuer.

 

(xviii)           
On each date the Purchase Price would be required to be funded to the Issuer pursuant to Section ‎3,
Subscriber will have sufficient immediately available funds to pay the Purchase Price pursuant to Section ‎3.

 

(xix)            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 the SPAC, any of its affiliates or any of its or their respective control persons, officers,
directors or employees), other than the representations and warranties of the Issuer expressly set forth in this Subscription
Agreement, in making its investment or decision to invest in the Issuer. Subscriber agrees that neither (A) any other subscriber
pursuant to this Subscription Agreement or any other agreement related to the private placement of shares of the Issuer’s
share capital (including the controlling persons, officers, directors, partners, agents or employees of any such subscriber) nor (B)
the SPAC, its affiliates or any of their or their respective affiliates’ control persons, officers, directors, partners,
agents or employees, shall be liable to Subscriber pursuant to this Subscription Agreement or any other agreement related to the
private placement of shares of the Issuer’s share capital for any action heretofore or hereafter taken or omitted to be taken
by any of them in connection with the purchase of the Units hereunder.

 

    8 

     

    

 

(xx)           
If, at any time prior to the Closing, the Issuer reasonably determines, and notifies the Subscriber of such determination, that
pursuant to The Encouragement of Research, Development and Technological Innovation in the Industry Law 5744-1984 and the rules and regulations
promulgated thereunder (collectively, the “IIA Law”), and in connection with the issuance of the Units, the Subscriber
is required to the deliver an undertaking towards the National Technological Innovation Authority in the form and substance prescribed
under the IIA Law (the “IIA Undertaking”), the Subscriber will deliver to the Issuer a duly executed IIA Undertaking.

 

(xxi)           
Subscriber does not have, as of the date hereof, and during the 30-day period immediately prior to the date hereof such Subscriber
has not entered into, any “put equivalent position” as such term is defined in Rule 16a-1 under the Exchange Act or short
sale positions with respect to the securities of the Issuer or the SPAC. Notwithstanding the foregoing, in the case of a Subscriber that
is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Subscriber’s assets and
the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of
such Subscriber’s assets, the representation set forth above shall only apply with respect to the portion of assets managed by the
portfolio manager that made the investment decision to purchase the Securities covered by this Subscription Agreement.

 

(xxii)           
 No broker or finder is entitled to any brokerage or finder’s fee or commission
payable by Subscriber solely in connection with the sale of the Units to Subscriber based on any arrangement entered into by or on behalf
of Subscriber.

 

(xxiii)            Subscriber
acknowledges that, and unconditionally consents to and waives all actual and potential conflicts of interest with respect to the
fact that (i) the Placement Agents are acting as the Issuer’s placement agents in connection with the transactions
contemplated by this Subscription Agreement and the Other Subscription Agreements, (ii) Truist Securities, Inc. is acting as
financial advisor to the SPAC and/or its affiliates with respect to the Transaction, (iii) Barclays Capital Inc. is acting as
financial advisor and capital markets advisor to the Issuer in connection with the Business Combination, and (iv) Cantor Fitzgerald
 & Co. and Truist Securities, Inc. will receive deferred underwriting commissions upon the closing of the Business Combination,
as disclosed in the prospectus relating to the SPAC’s initial public offering dated September 14, 2021 (the
 “Prospectus”) available at www.sec.gov. Subscriber further acknowledges that the Placement Agents and/or their
respective affiliates may have existing or future business relationships with the Issuer and/or the SPAC (including, but not limited
to, lending, depository, risk management, advisory and banking relationships as well as principal investments in the SPAC) and will
pursue actions and take steps that it deems or they deem necessary or appropriate to protect its or their interests arising
therefrom without regard to the consequences for a holder of PIPE Securities and that certain of these actions may have material and
adverse consequences for a holder of PIPE Securities.

 

(xxiv)           
Notwithstanding anything to the contrary set forth herein, the Subscriber acknowledges and agrees that, subsequent to the date
of this Subscription Agreement and prior to the Closing, SPAC may enter into one or more additional subscription agreements with additional
investors with terms and conditions that are not materially more advantageous to the investor thereunder than this Subscription Agreement,
and entry into such agreements may increase the aggregate amount of Shares being subscribed for in the private placement contemplated
by this Subscription Agreement. For the avoidance of doubt, such additional agreements shall reflect not less than the same Purchase Price
and shall constitute Other Subscription Agreements for purposes of this Agreement, mutatis mutandis.

 

    9 

     

    

 

(b)           
Issuer’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Units, the Issuer hereby
represents and warrants to Subscriber as follows:

 

(i)           
The Issuer is a corporation duly organized and validly existing under the laws of the State of Israel, with corporate power and
authority to own, lease and operate its properties and conduct its business as presently conducted and, subject to obtaining all approvals
necessary for the consummation of the Transactions (collectively, the “Required Approvals”), to enter into, deliver
and perform its obligations under this Subscription Agreement.

 

(ii)           
As of the Closing, the Shares will have been duly authorized and, when issued and delivered to Subscriber against full payment
for the Shares in accordance with the terms of this Subscription Agreement and registered with the Issuer’s transfer agent, the
Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of, or subject to any preemptive
or similar rights created under, the Issuer’s amended and restated articles of association or similar constitutive agreements or
the Laws of the State of Israel.

 

(iii)            As
of the Closing, the Warrants will have been duly authorized and, when issued and delivered to Subscriber against full payment for
the Warrants in accordance with the terms of this Subscription Agreement and registered with the Issuer’s transfer agent, the
Warrants will be validly issued and will not have been issued in violation of, or subject to any preemptive or similar rights
created under, the Issuer’s amended and restated articles of association or similar constitutive agreements or the Laws of the
State of Israel.

 

(iv)           
As of the Closing, all Shares issuable upon exercise of the Warrants will have been duly authorized and reserved for issuance and,
upon issuance in accordance with the terms of the Warrants and the Warrant Agreement, will be validly issued, fully paid and not subject
to preemptive or similar rights, and will not have been issued in violation of, or subject to any preemptive or similar rights created
under, the Issuer’s amended and restated articles of association or similar constitutive agreements or the Laws of the State of
Israel.

 

(v)           
This Subscription Agreement has been duly authorized, executed and delivered by the Issuer and, assuming that this Subscription
Agreement constitutes a valid and binding obligation of the other parties hereto, is enforceable against the Issuer in accordance with
its terms, except as may be limited or otherwise affected by (A) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
or other laws relating to or affecting the rights of creditors generally, and (B) principles of equity, whether considered at law or equity.

 

(vi)            Subject
to obtaining the Required Approvals and assuming the accuracy of the Subscribers’ representations and warranties in Section
3(a), the execution, delivery and performance of this Subscription Agreement (including compliance by the Issuer with all of the
provisions hereof), issuance and sale of the Units and the consummation of the transactions contemplated herein do not and will not
(A) 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 Issuer or any of
its subsidiaries, as applicable, pursuant to the terms of any indenture, mortgage, charge, deed of trust, loan agreement, lease,
license or other agreement or instrument to which the Issuer or any of its subsidiaries, as applicable, is a party or by which the
Issuer or any of its subsidiaries, as applicable, is bound or to which any of the property or assets of the Issuer or any of its
subsidiaries, as applicable, is subject, in each case, which would reasonably be expected to have a material adverse effect on the
legal authority of the Issuer to enter into and perform its obligations under this Subscription Agreement or have a SPAC Material
Adverse Effect (as defined in the Business Combination Agreement) (an “Issuer Material Adverse Effect”), (B)
result in any violation of the provisions of the organizational documents of the Issuer or any of its subsidiaries, as applicable,
or (C) 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 Issuer or any of its subsidiaries, as applicable, or any of their respective
properties that would reasonably be expected to have an Issuer Material Adverse Effect.

 

    10 

     

    

 

 

(vii)           
Except as set forth in the Business Combination Agreement and the other agreements and arrangements referred to therein, as of
the date hereof there are no securities or instruments issued by or to which the Issuer is a party containing anti-dilution or similar
provisions that will be triggered by the issuance of (A) the Units, (B) any Ordinary Shares and/or Warrants to be issued pursuant to the
Other Subscription Agreements or (C) any shares of capital stock of the Issuer to be issued pursuant to the other Transactions, in each
case, that have not been or will not be validly waived or terminate prior to the Closing Date.

 

(viii)           
As of the date of this Subscription Agreement, the authorized capital shares of the Issuer consists of 185,830,000 Ordinary Shares,
par value NIS 0.0001 per share (“Existing Ordinary Shares”), and (ii) 14,170,000 preferred shares, par value NIS 0.0001
per share (“Preferred Shares”). As of the date of this Subscription Agreement: (i) 18,684,354 Existing Ordinary Shares were issued and outstanding, (ii) 7,300,000 Preferred A Shares were issued and outstanding, (iii)
4,778,000 Preferred B Shares were issued and outstanding and (iv) 856,000 Preferred C Shares were issued and outstanding. Subject to obtaining the Required
Approvals, as of the Closing, the Preferred Shares will be converted to Ordinary Shares.

 

(ix)           
Assuming the accuracy of Subscriber’s representations and warranties set forth in Section ‎3(a)
of this Subscription Agreement, no registration under the Securities Act and no prospectus approved under the Securities Law is required
for the offer and sale of the Units by the Issuer to Subscriber.

 

(x)           
Neither the Issuer nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any securities
of Issuer or solicited any offers to buy any securities of Issuer under circumstances that would adversely affect reliance by the Issuer
on Section 4(a)(2) of the Securities Act for the exemption from registration for the transactions contemplated hereby or would require
registration of the issuance of the Units under the Securities Act or the Securities Law.

 

(xi)           
Concurrently with the execution and delivery of this Subscription Agreement, the Issuer is entering into the Other Subscription
Agreements.

 

(xii)            Neither
the Issuer, nor any person acting on its behalf has conducted any general solicitation or general advertising, including methods
described in section 502(c) of Regulation D under the Securities Act, in connection with the offer or sale of any of the Units and
neither the Issuer, nor any person acting on its behalf has offered any of the Units in a manner involving a public offering under,
or in a distribution in violation of, the Securities Act or any state securities laws.

 

(xiii)           
The Issuer is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person
in connection with the execution, delivery and performance by the Issuer of this Subscription Agreement (including, without limitation,
the issuance of the Units), other than filings (A) with the Commission of the Registration Statement, (B) required by applicable state
or federal securities laws, (C) required in accordance with the Business Combination Agreement, (D) required by the Nasdaq Capital Market
(“Nasdaq”) or other applicable stock exchange on which the Units are then listed (the “Stock Exchange”),
including with respect to obtaining approval of the SPAC’s shareholders, (E) required in connection with the Required Approvals
and (F) the failure of which to obtain would not be reasonably expected to have, individually or in the aggregate, an Issuer Material
Adverse Effect.

 

    11 

     

    

 

(xiv)           
As of the Closing, the Issuer’s Ordinary Shares will be registered pursuant to Section 12(b) of the Exchange Act and will
be listed for trading on the Stock Exchange. There is no suit, action, proceeding or investigation pending or to the knowledge of the
Issuer, threatened against the Issuer by the Nasdaq or the Commission with respect to any intention by such entity to deregister the Ordinary
Shares or prohibit or terminate the listing of Ordinary Shares on the Nasdaq.

 

(xv)           
Other than the Placement Agents, Issuer represents and warrants to the other parties hereto that no broker, finder or other financial
consultant has acted on its behalf in connection with this Subscription Agreement or the transactions contemplated hereby in such a way
as to create any liability on any other parties hereto.

 

(c)           
SPAC and the Sponsor’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Units, the
SPAC and the Sponsor hereby represent and warrant to Subscriber as follows:

 

(i)           
The SPAC is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands (to
the extent such concept exists in such jurisdiction). The Sponsor is a limited liability company incorporated, validly existing and in
good standing under the laws of the Cayman Islands. The SPAC and the Sponsor each has all power (corporate or otherwise) and authority
to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and, subject to the
Required Approvals, perform its obligations under this Subscription Agreement.

 

(ii)           
 This Subscription Agreement has been duly authorized, executed and delivered by the SPAC and Sponsor and, assuming that this Subscription
Agreement constitutes a valid and binding obligation of the other parties hereto, is enforceable against the SPAC and Sponsor in accordance
with its terms, except as may be limited or otherwise affected by (A) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
or other laws relating to or affecting the rights of creditors generally, and (B) principles of equity, whether considered at law or equity.

 

(iii)           
The Business Combination Agreement has been duly authorized, executed and delivered by the SPAC. The Business Combination Agreement
constitute the valid and legally binding obligation of the SPAC, enforceable against it in accordance with its terms, except as may be
limited or otherwise affected by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting generally the enforcement
of creditors’ rights and general principles of equity.

 

(iv)           
As of their respective filing dates, or, if amended, as of the date of such amendment, which shall be deemed to supersede such
original filing, all reports required to be filed by the SPAC with the Commission as of the date hereof (the “SEC Reports”)
complied in all material respects with the applicable requirements of the Securities Act and Exchange Act, and none of the SEC Reports,
when filed, or, if amended prior to the date of this Subscription Agreement, as of the date of such amendment with respect to those disclosures
that are amended, which shall be deemed to supersede such original filing, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The financial statements of the SPAC included in the SEC Reports comply in all material respects
with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing
and fairly present in all material respects the financial position of the SPAC as of and for the dates thereof and the results of operations
and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. A copy
of each SEC Report is available to the Investor via the SEC’s EDGAR system.

 

    12 

     

    

 

(v)            The
SPAC and the Sponsor are not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any
filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization
or other person in connection with the execution, delivery and performance by of this Subscription Agreement (including, without
limitation, the issuance of the Units by the Issuer), other than (i) filings with the SEC, (ii) filings required by the Stock
Exchange, (iii) filings required by applicable Israeli law or Cayman Islands law, (iv) filings required in connection with the
Required Approvals or (v) the failure of which to obtain would not be reasonably likely to have, individually or in the aggregate, a
SPAC Material Adverse Effect (as defined in the Business Combination Agreement).

 

4.            
Settlement Date, Delivery and Closing.

 

(a)            The
closing of the Subscription contemplated hereby (the “Closing”) shall, unless otherwise agreed, occur on the date
of the consummation of the Transactions (the “Closing Date”), immediately after the consummation of the
Transactions. Upon written notice from (or on behalf of) the Issuer to Subscriber (the “Closing Notice”) at least
five (5) Business Days prior to the date that the Issuer reasonably expects all conditions to the closing of the Transactions to be
satisfied, Subscriber shall deliver to the Issuer at least two (2) Business Days prior to the anticipated Closing Date, the Purchase
Price for the Units, by wire transfer of United States dollars in immediately available funds to the account specified by the Issuer
in the Closing Notice, such funds to be held by the Issuer or its designees in escrow until the Closing. On or prior to the Closing
Date, the Issuer shall issue the Units to Subscriber and subsequently cause the Units to be registered in book entry form in the
name of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by Subscriber, as
applicable, on Issuer’s share register (which book entry records shall contain an appropriate notation concerning transfer
restrictions of the Units, in accordance with applicable securities laws of the states of the United States and other applicable
jurisdictions), and will provide to Subscriber evidence of such issuance from the Issuer’s transfer agent. Prior to or at the
Closing, Subscriber shall deliver to Issuer a duly completed and executed Internal Revenue Service Form W-9 or appropriate Form
W-8.  In the event that the consummation of the Transactions does not occur within five
(5) Business Days after the anticipated Closing Date specified in the Closing Notice, unless otherwise agreed to in writing by the
Issuer and the Subscriber, the Issuer shall promptly (but in no event later than four (4) Business Days after the anticipated
Closing Date specified in the Closing Notice) return the Purchase Price so delivered by Subscriber to the Issuer by wire transfer in
immediately available funds to the account specified by Subscriber, and any book entries shall be deemed cancelled. Notwithstanding
such return or cancellation, (i) Subscriber acknowledges and agrees that a failure to close on the anticipated Closing Date
specified in the Closing Notice shall not, by itself, be deemed to be a failure of any of the conditions to Closing set forth in
this Section 4 to be satisfied or waived on or prior to the Closing Date and (ii) unless and until this Subscription Agreement is
terminated in accordance with Section 6 herein, Subscriber shall remain obligated (A) to redeliver funds to the Issuer in escrow
following the Issuer’s delivery to Subscriber of a new Closing Notice and (B) to consummate the Closing on the Closing Date
and immediately following the consummation of the Transactions. For the purposes of this Subscription Agreement, “Business
Day” means any day other than a Friday, Saturday, Sunday or any other day on which commercial banks are required or
authorized to close in the State of New York or Tel-Aviv, Israel.

 

(b)           
Conditions to Closing of the Issuer, SPAC and the Sponsor. The Issuer’s obligations to sell and issue the Units at
the Closing and the obligation of the Issuer, SPAC and the Sponsor to consummate the transactions contemplated by this Subscription Agreement,
are subject to the fulfillment or (to the extent permitted by applicable law) written waiver by the Issuer, on or prior to the Closing
Date, of each of the following conditions:

 

(i)           
The representations and warranties made by the Subscriber in Section ‎3(a)
hereof shall be true and correct in all material respects as of the Closing (or, if such representation and warranties speak as of another
date, as of such date) (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse
Effect, which representations and warranties shall be so true and correct as of the Closing (or, if such representation and warranties
speak as of another date, as of such date) in all respects), but, in each case, (x) without giving effect to consummation of the Transactions
and (y) other than failures to be true and correct that would not result, individually or in the aggregate, in an Subscriber Material
Adverse Effect.

 

(ii)           
Subscriber shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Subscription Agreement to be performed, satisfied or complied with by Subscriber at or prior to the Closing, except where
the failure of such performance or compliance would not or would not reasonably be expected to prevent, materially delay, or materially
impair the ability of the Subscriber to consummate the Closing.

 

    13 

     

    

 

(iii)           
Subscriber shall have delivered the Purchase Price into the Escrow Account;

 

(iv)           
There shall not be in force any order, judgment or injunction by or with any governmental authority in the United States or Israel
enjoining or prohibiting the consummation of the Subscription.

 

(v)           
The Closing (as defined in the Business Combination Agreement) shall have been or will be consummated substantially concurrently
with the Closing.

 

(vi)           
At the Closing, Subscriber shall execute and deliver such additional documents and take such additional actions as the Issuer and
the SPAC reasonably may deem necessary in order to consummate the transactions contemplated by this Subscription Agreement.

 

(c)           
 Conditions to Closing of Subscriber. Subscriber’s obligation to purchase the Units at the Closing is subject to the
fulfillment or (to the extent permitted by applicable law) written waiver by Subscriber, on or prior to the Closing, of each of the following
conditions:

 

(i)           
The representations and warranties made by the Issuer in Section ‎3(b)
and by the SPAC and the Sponsor in Section 3(c) hereof shall be true and correct in all material respects as of the Closing (or, if such
representation and warranties speak as of another date, as of such date) (other than representations and warranties that are qualified
as to materiality or Issuer Material Adverse Effect, which representations and warranties shall be so true and correct as of the Closing
(or, if such representation and warranties speak as of another date, as of such date) in all respects), but, in each case, (x) without
giving effect to consummation of the Transactions and (y) other than failures to be true and correct that would not result, individually
or in the aggregate, in an Issuer Material Adverse Effect.

 

(ii)           
Each of the Issuer, SPAC and the Sponsor shall have respectively, performed, satisfied and complied in all material respects with
the covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by such Person
at or prior to the Closing, except where the failure of such performance or compliance would not or would not reasonably be expected to
prevent, materially delay, or materially impair the ability of the Issuer to consummate the Closing.

 

(iii)           
There shall not be in force any order, judgment or injunction by or with any governmental authority in the United States or Israel
enjoining or prohibiting the consummation of the Subscription.

 

(iv)           
There shall not have occurred any suspension of the Units for sale or trading on the Stock Exchange and, to the Issuer’s
knowledge, no proceedings for any such purpose shall have been initiated or threatened.

 

(v)           
The Issuer shall have delivered the Escrowed Shares to the Escrow Agent, and such Escrowed Shares shall have been deposited into
the Escrow Account.

 

(vi)            The
Transactions set forth in the Business Combination Agreement shall have been or will be consummated concurrently with the Closing
(it being understood that in the event such Transactions have not been or would not reasonably be expected to be consummated due to
the assertion by the Issuer or SPAC that any of the conditions set forth in the Business Combination Agreement has not been or would
not be satisfied, the Issuer acknowledges and agrees that the Subscriber shall not have any obligation to consummate the Closing or
any liability with respect thereto; provided that, subject to Section ‎5
hereof, if the Issuer and the SPAC subsequently consummate the Transaction, the foregoing shall no longer apply); and the terms of
the Business Combinations Agreement (including the conditions thereto) shall have not been amended and the Issuer shall not have
waived any such term, in a manner that materially and adversely affects the economic benefits that the Subscriber (in its capacity
as such) would reasonably expect to receive under this Subscription Agreement.

 

    14 

     

    

 

5.            
Registration Statement.

 

(a)            The
Issuer agrees that no later than the later of (x) thirty (30) calendar days after the consummation of the Transactions or (y) if the
Issuer’s 2021 audited financial statements are required to be included, ninety (90) calendar days following the Issuer’s
most recent fiscal year end (the “Filing Date”), the Issuer will file with the Commission (at the Issuer’s
sole cost and expense) a registration statement registering the resale of the Listed Securities (the “Registration
Statement”), and the Issuer shall use its commercially reasonable efforts to have the Registration Statement declared
effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the later of (x) the 90th calendar
day if the Commission notifies the Issuer that it will “review” the Registration Statement) following the Closing or (y)
if the Issuer’s 2021 audited financial statements are required to be included, 45 calendar days following the inclusion of
such 2021 audited financial statements of the Issuer and (ii) the later of (x) the 10th Business Day after the date the Issuer is
notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be
 “reviewed” or will not be subject to further review or (y) if the Issuer’s 2021 audited financial statements are
required to be included, 45 calendar days following the inclusion of such 2021 audited financial statements of the Issuer , (such
earlier date, the “Effectiveness Date”) ; provided, however, that the Issuer’s
obligations to include the Listed Securities in the Registration Statement are contingent upon Subscriber furnishing in writing to
the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber and the intended method of
disposition of the Listed Securities as shall be reasonably requested by the Issuer to effect the registration of the Listed
Securities, and Subscriber shall execute such documents in connection with such registration as the Issuer may reasonably request
that are customary of a selling shareholder in similar situations, including providing that the Issuer shall be entitled to postpone
and suspend the effectiveness or use of the Registration Statement during any customary blackout or similar period or as permitted
hereunder. For purposes of clarification, any failure by the Issuer to file the Registration Statement by the Filing Date or to
effect such Registration Statement by the Effectiveness Date shall not otherwise relieve the Issuer of its obligations to file or
effect the Registration Statement as set forth above in this Section 5. In addition, in the event any of the Additional Shares are
issued to Subscriber pursuant to Section 2, the Issuer shall amend the Registration Statement or file a new Registration Statement
to register such Additional Shares and cause such amendment or new Registration Statement to become effective as promptly as
practicable thereafter. For purposes of this Section 5, the Listed Securities included in the Registration Statement shall include,
as of any date of determination, the Units and any other equity security of the Issuer issued or issuable with respect to the Units
by way of share split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise.

 

(b)           
The Issuer shall, upon reasonable request, inform Subscriber as to the status of the registration effected by the Issuer pursuant
to this Subscription Agreement. At its expense, the Issuer shall:

 

(i)           
except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state
securities laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the applicable Registration
Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following:
(A) Subscriber ceases to hold any Listed Securities, (B) the date all Listed Securities held by Subscriber may be sold without restriction
under Rule 144, including any volume and manner of sale restrictions under Rule 144 and without the requirement for the Issuer to be in
compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) two years from
the Effectiveness Date of the Registration Statement. The period of time during with the Issuer is required hereunder to keep a Registration
Statement effective is referred to herein as the “Registration Period”;

 

(ii)           
during the Registration Period, advise Subscriber as expeditiously as possible, but in any event within five (5) Business Days
in the case of (A) below and within one (1) Business Day in the case of (B) or (C) below:

 

(A)           
when the Registration Statement or any post-effective amendment thereto has become effective;

 

(B)           
of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation
of any proceedings for such purpose; and

 

    15 

     

    

 

(C)           
of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Units included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose.

 

Notwithstanding anything to the contrary set forth
herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber with any material, nonpublic information
regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence of the events listed in (A) through
(C) above constitutes material, nonpublic information regarding the Issuer;

 

(iii)           
during the Registration Period, use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness
of the Registration Statement as soon as reasonably practicable;

 

(iv)           
during the Registration Period, upon the occurrence of any event that requires the making of any changes in the Registration Statement
or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to
be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the circumstances under which
they were made) not misleading, except for such times as the Issuer is permitted hereunder to suspend, and has suspended, the use of a
prospectus forming part of the Registration Statement, the Issuer shall use its commercially reasonable efforts to as soon as reasonably
practicable prepare a post-effective amendment to the Registration Statement or a supplement to the related prospectus, or file any other
required document so that, as thereafter delivered to purchasers of the Listed Securities included therein, such prospectus will not include
any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; and

 

(v)           
during the Registration Period, use its commercially reasonable efforts to cause all Listed Securities to be listed on each securities
exchange or market, if any, on which the Issuer’s Ordinary Shares are then listed.

 

(vi)           
Notwithstanding anything to the contrary in this Subscription Agreement, during the Registration Period, the Issuer shall not have
any obligation to prepare any prospectus supplement, participate in any due diligence, execute any agreements or certificates or deliver
legal opinions (other than customary de-legending certificates and opinions or any customary Exhibit 5 opinion required in connection
with the initial filing of the Registration Statement) or obtain comfort letters in connection with any sales of the Units under the Registration
Statement.

 

(c)            Notwithstanding
anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or postpone the effectiveness of the
Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement or to suspend the
effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries is pending or an event
has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably believes, upon the advice of
legal counsel (which may be in-house legal counsel), would require additional disclosure by the Issuer in the Registration Statement
of material information that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure of which in
the Registration Statement would be expected, in the reasonable determination of the Issuer’s board of directors, upon the
advice of legal counsel (which may be in-house legal counsel), to cause the Registration Statement to fail to comply with applicable
disclosure requirements (each such circumstance, a “Suspension Event”); provided, however,
that the Issuer may not delay or suspend the Registration Statement on more than three (3) occasions, for more than ninety (90)
consecutive calendar days, or more than one hundred and twenty (120) total calendar days, in each case during any twelve (12)-month
period. Upon receipt of any written notice from the Issuer of the happening of any Suspension Event during the period that the
Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus
contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not
misleading, Subscriber agrees that (i) it will immediately discontinue offers and sales of the Listed Securities under the
Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Subscriber receives
copies of a supplemental or amended prospectus (which the Issuer agrees to promptly prepare) that corrects the misstatement(s) or
omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise
notified by the Issuer that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information
included in such written notice delivered by the Issuer unless otherwise required by law or subpoena. If so directed by the Issuer,
Subscriber will deliver to the Issuer or, in Subscriber’s sole discretion destroy, all copies of the prospectus covering the
Listed Securities in Subscriber’s possession; provided, however, that this obligation to deliver or destroy
all copies of the prospectus covering the Listed Securities shall not apply (A) to the extent Subscriber is required to retain a
copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or
(2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers
as a result of automatic data back-up.

 

    16 

     

    

 

(d)            The
Issuer shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless the Subscriber (to
the extent a seller under the Registration Statement), the officers, directors, agents, partners, members, managers, shareholders,
affiliates, employees and investment advisers of the Subscriber, each person who controls the Subscriber (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act), and the officers, directors, partners, members, managers,
shareholders, agents, 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 by the Issuer of the Securities Act, the Exchange Act or any state securities law or any rule or
regulation thereunder, in connection with the performance of its obligations under this Section ‎4,
except 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 Issuer by Subscriber expressly for use therein.
Notwithstanding the forgoing, the Issuer’s indemnification obligations shall not apply to amounts paid in settlement of any
Losses if such settlement is effected without the prior written consent of the Issuer (which consent shall not be unreasonably
withheld, delayed or conditioned).

 

The Issuer 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
5 of which the Issuer is aware.

 

(e)            Subscriber
shall, severally and not jointly with any other selling shareholder named in the Registration Statement, indemnify and hold harmless
the Issuer, its directors, officers, agents and employees, each person who controls the Issuer (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 that 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 of a material fact required to be stated therein or
necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light
of the circumstances under which they were made) not misleading to the extent, but only to the extent, that such untrue statements
or omissions are based solely upon information regarding Subscriber furnished in writing to the Issuer by Subscriber expressly for
use therein, or (ii) any violation or alleged violation by such Subscriber of the Securities Act, Exchange Act, Securities Law or
any state securities law or any rule or regulation thereunder in connection with the sale of their shares under any such
Registration Statement. 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 Listed Securities giving rise to such indemnification obligation.
Notwithstanding the forgoing, the Subscriber’s indemnification obligations shall not apply to amounts paid in settlement of
any Losses if such settlement is effected without the prior written consent of the Subscriber (which consent shall not be
unreasonably withheld, delayed or conditioned).

 

(i)           
The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party and shall survive the transfer of the Listed Securities purchased pursuant to this Subscription
Agreement.

 

    17 

     

    

 

(ii)           
If the indemnification provided under this Section ‎5(e)
from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any Losses referred to
herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by
the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative
fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made
by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified
party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or
payable by a party as a result of the Losses or other liabilities referred to above shall be deemed to include, subject to the limitations
set forth above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or
proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution pursuant to this Section ‎5(e) from any person
who was not guilty of such fraudulent misrepresentation. 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 Listed Securities purchased pursuant to this Subscription Agreement
giving rise to such contribution obligation.

 

6.             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 Business Combination Agreement is validly terminated in accordance with its terms, (b) upon
the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if the Closing shall not
have occurred on or before 30 days after the Termination Date (as defined in the Business Combination Agreement as in effect on the
date hereof), provided, that the right to terminate this Subscription Agreement pursuant to this clause (c) shall not be
available to the Subscriber if the Subscriber’s breach of any of its covenants or obligations under this Subscription
Agreement (or, if one or more affiliates of the Subscriber is or are, as applicable, Other Subscribers under the Other Subscription
Agreements, such other Subscriber’s breach of any of its covenants or obligations under such Other Subscription Agreement),
either individually or in the aggregate, shall have resulted in the failure of the Closing or the Transactions to occur on or before
the Termination Date; provided, that (i) Section ‎3(a)
shall survive any termination of this Subscription Agreement that occurs following the funding by Subscriber of the Purchase Price
in accordance with the terms and conditions of this Subscription Agreement, and (ii) nothing herein will relieve any party from
liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or
in equity to recover losses, liabilities or damages arising from such breach. The Issuer shall notify Subscriber of the termination
of the Business Combination Agreement promptly after the termination of such agreement.

 

7.            
Miscellaneous.

 

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

 

(i)           
Subscriber acknowledges that the Issuer, the SPAC and the Placement Agents will rely on the acknowledgments, understandings, agreements,
representations and warranties made by Subscriber contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees to
promptly notify the Issuer, the SPAC and the Placement Agents if any of the acknowledgments, understandings, agreements, representations
and warranties made by Subscriber set forth herein are no longer accurate in all material respects. Subscriber further acknowledges and
agrees that each Placement Agent is a third-party beneficiary of the representations and warranties of the Subscriber contained in Sections
‎3(a)(vi), ‎3(a)(viii),
‎3(a)(ix) and ‎3(a)(xxiii)
of this Subscription Agreement to the extent such representations and warranties relate to such Placement Agent.

 

    18 

     

    

 

(ii)            The
Issuer acknowledges and agrees that each of the Placement Agents is entitled to rely on the agreements, representations and
warranties of the Issuer contained in this Subscription Agreement. Prior to the Closing, the Issuer agrees to promptly notify the
Placement Agents if any of the agreements, representations and warranties of the Issuer are no longer accurate in all material
respects.

 

(iii)           
Each of the Issuer, Subscriber and the SPAC 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.

 

(iv)           
The Issuer or the SPAC may request from Subscriber such additional information as the Issuer or SPAC, as applicable, may deem necessary
to evaluate the eligibility of Subscriber to acquire the Units, and Subscriber shall promptly provide such information as may be reasonably
requested, to the extent within Subscriber’s possession and control and consistent with internal policies and procedure; provided,
that, each of the Issuer and the SPAC agrees to keep any such information provided by Subscriber confidential except as required by law.

 

(v)           
Each party shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein.

 

(vi)           
Each of Subscriber, the Issuer and SPAC, respectively, shall take, or cause to be taken, all actions and do, or cause to be done,
all things necessary, proper or advisable to consummate the transactions contemplated by this Subscription Agreement on the terms and
conditions described therein no later than immediately following the consummation of the Transactions.

 

(vii)            The
Subscriber hereby acknowledges and agrees that it will not, nor will any person acting at the Subscriber’s direction or
pursuant to any understanding with the Subscriber (including the Subscriber’s controlled affiliates other than any
broker-dealer affiliate of Subscriber that is subject to confidentiality obligations to the Issuer), directly or indirectly, (A)
offer, sell, pledge, contract to sell, sell any option in, or engage in hedging activities with respect to, any Units or any
securities of either the SPAC or the Issuer or any instrument exchangeable for or convertible into any Units or any securities of
the SPAC or the Issuer (collectively, the “Covered Securities”) until the consummation of the Transactions (or
such earlier termination of this Subscription Agreement in accordance with its terms) or (B) execute any “short sales”
(as defined in Rule 200 of Regulation SHO under the Exchange Act) of any Covered Securities or Additional Shares issued pursuant to
the terms of this Agreement through the Measurement Date. Notwithstanding the foregoing, (A) nothing herein shall
prohibit any entities under common management with the Subscriber that have no knowledge of this Subscription Agreement or of the
Subscriber’s participation in the transactions contemplated hereby (including the Subscriber’s controlled affiliates
and/or affiliates) from entering into any short sales; (B) in the case of a Subscriber that is a multi-managed investment
vehicle whereby separate portfolio managers manage separate portions of such Subscriber’s assets and the portfolio managers
have no knowledge of the investment decisions made by the portfolio managers managing other portions of such Subscriber’s
assets, this Section ‎7(a)(vii) shall only apply with
respect to the portion of assets managed by the portfolio managers that made, or were made aware of, the investment decision to
purchase the Units covered by this Subscription Agreement.

 

(b)           
The Issuer acknowledges and agrees that, notwithstanding anything herein to the contrary, the Units may be pledged by Subscriber
in connection with a bona fide margin agreement, provided such pledge shall be (A) pursuant to an available exemption from the registration
requirements of the Securities Act or (B) pursuant to, and in accordance with, a registration statement that is effective under the Securities
Act at the time of such pledge, and Subscriber effecting a pledge of Units shall not be required to provide Issuer with any notice thereof;
provided, however, that neither Issuer or their counsel shall be required to take any action (or refrain from taking any
action) in connection with any such pledge, other than providing any such lender of such margin agreement with an acknowledgment that
the Units are not subject to any contractual prohibition on pledging or lock up, the form of such acknowledgment to be subject to review
and comment by Issuer in all respects.

 

    19 

     

    

 

(c)           
Notices. Any notice or communication required or permitted hereunder shall be in writing and either delivered personally,
emailed or sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall
be deemed to be given and received (i) when so delivered personally, (ii) when sent, with no mail undeliverable or other rejection notice,
if sent by email, or (iii) three (3) Business Days after the date of mailing to the address below or to such other address or addresses
as such person may hereafter designate by notice given hereunder:

 

(i)           
if to Subscriber, to such address or addresses set forth on the signature page hereto;

 

(ii)           
if to the Issuer, to:

 

SatixFy Communications Ltd.

12 Hamada St.,

Rehovot, 7670315

Israel

Attention:      Yoav Leibovitch

Email:             yoav@satixfy.com

 

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

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York NY 10017

Attention:   Lee Hochbaum

Brian Wolfe

Michael Kaplan

		Email:	lee.hochbaum@davispolk.com brian.wolfe@davispolk.com michael.kaplan@davispolk.com

and

 

Gross & Co.

132 Derech Menachem Begin St.

1 Azrieli Center, Round Building

Tel Aviv 6701101

Israel

Attention:       Richard J. Mann

Email:               rick@gkh-law.com

 

    20 

     

    

 

if to the SPAC, to:

 

Endurance Acquisition Corp.

630 Fifth Avenue, 20th Floor

New York, NY 10111

Attention:       Richard C. Davis

Email:             rdavis@enduranceacquisition.com

 

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

 

Morrison & Foerster LLP

250 West 55th Street

New York, NY 10019

 Attention: Larry Medvinsky

 Email: LMedvinsky@mofo.com

 

(d)           
Entire Agreement. 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, including
any commitment letter entered into relating to the subject matter hereof.

 

(e)           
Modifications and Amendments. This Subscription Agreement may not be amended, modified, supplemented or waived except by
an instrument in writing, signed by the party against whom enforcement of such amendment, modification, supplement or waiver is sought.

 

    21 

     

    

 

 

(f)           
 Assignment. Neither this Subscription Agreement nor any rights, interests or obligations that may accrue to the parties
hereunder (including Subscriber’s rights to purchase the Units) may be transferred or assigned without the prior written consent
of each of the other parties hereto (other than the Units acquired hereunder, if any, and then only in accordance with this Subscription
Agreement). Notwithstanding the foregoing, Subscriber may assign some or all of its rights and obligations under this Subscription Agreement
to any affiliate of Subscriber or fund or account managed or advised by the same investment manager or investment adviser as the Subscriber
or by an affiliate of such investment manager (which shall include any Person in which such investment manager holds 50% or more of such
Person’s voting securities) without the prior consent of the Issuer; provided that (x) prior to such assignment, any
such assignee shall agree in writing to be bound by the terms hereof and (y) no such assignment shall relieve the Subscriber of its obligations
hereunder.

 

(g)           
Benefit. 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. This Subscription Agreement shall not confer rights
or remedies upon any person other than the parties hereto and their respective successors and assigns.

 

(h)           
Governing Law. This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related
to this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution,
performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the Laws of the State
of New York, without giving effect to the principles of conflicts of law thereof.

 

(i)            Consent
to Jurisdiction; Waiver of Jury Trial. Each of the parties irrevocably consents to the exclusive jurisdiction and venue of
any state or federal court sitting in the Borough of Manhattan in the City and State of New York (the “Chosen
Courts”), in connection with any matter based upon or arising out of this Subscription Agreement. Each party hereby
waives, and shall not assert as a defense in any legal dispute, that (i) such person is not personally subject to the jurisdiction
of the Chosen Courts for any reason, (ii) such legal proceeding may not be brought or is not maintainable in the Chosen Courts,
(iii) such person’s property is exempt or immune from execution, (iv) such legal proceeding is brought in an inconvenient
forum or (v) the venue of such legal proceeding is improper. Each party hereby consents to service of process in any such proceeding
in any manner permitted by New York law, further consents to service of process by nationally recognized overnight courier service
guaranteeing overnight delivery, or by registered or certified mail, return receipt requested, at its address specified pursuant to
Section ‎7(b) and waives and covenants
not to assert or plead any objection which they might otherwise have to such manner of service of process. Notwithstanding the
foregoing in this Section ‎7(i), a
party may commence any action, claim, cause of action or suit in a court other than the Chosen Courts solely for the purpose of
enforcing an order or judgment issued by the Chosen Courts. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED,
EACH OF THE PARTIES WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS
SUBSCRIPTION AGREEMENT WHETHER NOW EXISTING OR HEREAFTER ARISING. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH
THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY SHALL ASSERT IN SUCH LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR
RELATING TO THIS SUBSCRIPTION AGREEMENT. FURTHERMORE, NO PARTY SHALL SEEK TO CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE
ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED.

 

    22 

     

    

 

(j)           
Severability. 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.

 

(k)           
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy
under this Subscription Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power
or remedy of such party. No single or partial exercise of any right, power or remedy under this Subscription Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or
further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall
not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly
required under this Subscription Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand
in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further
action in any circumstances without such notice or demand.

 

(l)           
Remedies.

 

(i)            The
parties agree that irreparable damage would occur if this Subscription Agreement was not performed or the Closing is not consummated
in accordance with its specific terms or was otherwise breached and that money damages or other legal remedies would not be an
adequate remedy for any such damage. It is accordingly agreed that the parties hereto shall be entitled to equitable relief,
including in the form of an injunction or injunctions, to prevent breaches or threatened breaches of this Subscription Agreement and
to enforce specifically the terms and provisions of this Subscription Agreement in an appropriate court of competent jurisdiction as
set forth in Section ‎7(i), this being in addition to
any other remedy to which any party is entitled at law or in equity, including money damages. The right to specific enforcement
shall include the right of the Issuer to cause Subscriber to cause the transactions contemplated hereby to be consummated on the
terms and subject to the conditions and limitations set forth in this Subscription Agreement. The parties hereto further agree (A)
to waive any requirement for the security or posting of any bond in connection with any such equitable remedy, (B) not to assert
that a remedy of specific enforcement pursuant to this Section ‎7(l)
is unenforceable, invalid, contrary to applicable law or inequitable for any reason and (C) to waive any defenses in any action for
specific performance, including the defense that a remedy at law would be adequate.

 

    23 

     

    

 

(ii)           
The parties acknowledge and agree that this Section ‎7(l)
is an integral part of the transactions contemplated hereby and without that right, the parties hereto would not have entered into this
Subscription Agreement.

 

(m)           
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this Subscription
Agreement shall survive the Closing. For the avoidance of doubt, if for any reason the Closing does not occur immediately following the
consummation of the Transactions, all representations, warranties, covenants and agreements of the parties hereunder shall survive the
consummation of the Transactions and remain in full force and effect.

 

(n)           
Headings and Captions. The headings and captions of the various subdivisions of this Subscription Agreement are for convenience
of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

(o)           
Counterparts. This Subscription Agreement may be executed in one or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other parties, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

    24 

     

    

 

(p)           
 Construction. The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other
gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.
The words “this Subscription Agreement,” “herein,” “hereof,” “hereby,” “hereunder,”
and words of similar import refer to this Subscription Agreement as a whole and not to any particular subdivision unless expressly so
limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent significance.
If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists
another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which
such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation,
warranty, or covenant. All references in this Subscription Agreement to numbers of shares, per share amounts and purchase prices shall
be appropriately adjusted to reflect any stock split, stock dividend, stock combination, recapitalization or the like occurring after
the date hereof (it being understood that the number of Units and Purchase Price per Unit set forth in this Subscription Agreement assumes
that the Issuer has effected a stock split prior to the Effective Time, on the terms contemplated by the Business Combination Agreement,
in order to cause the value of each Ordinary Share to equal $10.00, and no further adjustment shall be required on account of such stock
split).

 

(q)           
Mutual Drafting. This Subscription Agreement is the joint product of the parties hereto and each provision hereof has been
subject to the mutual consultation, negotiation and agreement of the parties and shall not be construed for or against any party hereto.

 

8.            
Cleansing Statement; Consent to Disclosure.

 

(a)           
The SPAC shall, by 9:00 a.m., New York City time, on the first (1st) Business Day immediately following the date of this Subscription
Agreement, issue one (1) or more press releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing all material terms of the transactions contemplated hereby and by the Other Subscription Agreements, and
the Transactions. From and after the publication of the Disclosure Document, the Subscriber shall not, unless otherwise agreed by the
Subscriber, be in possession of any material, non-public information received from the SPAC or any of its officers, directors, employees
or agents in connection with the transactions contemplated by this Subscription Agreement and the Transactions, and Subscriber shall no
longer be subject to any confidentiality or similar obligations under any current agreement, whether written or oral with the SPAC, the
Placement Agents, or any of their affiliates in connection with the Transactions, unless otherwise agreed by the Subscriber; provided,
that the foregoing shall not apply to the Sponsors.

 

    25 

     

    

 

(b)            Subscriber
hereby consents to (x) the disclosure in each of the Registration Statement contemplated by Section 5 of this Subscription
Agreement, the Form F-4 to be filed by the Issuer with the SEC subsequent to the execution and delivery of the Business
Combination Agreement (“Form F-4”) and the Proxy Statement (and, as and to the extent otherwise required by the
federal securities laws or the SEC or any other securities authorities, any other documents or communications provided by the Issuer
or the SPAC to any governmental authority or to securityholders of the Issuer or the SPAC) of Subscriber’s identity, the fact
that it is a party to this Agreement (but not the Purchase Price to be paid by Subscriber or the number or percentage of Units
subscribed for hereunder (such information “Allocation Information”)), and the general nature of
Subscriber’s commitments, arrangements and understandings under and relating to this Subscription Agreement and, if deemed
appropriate by the Issuer or the SPAC, a copy of the “form-of” this Subscription Agreement (which does not contain any
Allocation Information) and (y) the disclosure in the Registration Statement contemplated by Section 5 of this Subscription
Agreement (and, as and to the extent otherwise required by the federal securities laws or the SEC or any other securities
authorities, any other documents or communications provided by the Issuer or the SPAC to any governmental authority or to
securityholders of the Issuer or the SPAC) of the Allocation Information; provided that, except in the case of such disclosures
by the Issuers or the SPAC in the Registration Statement contemplated by Section 5 of this Subscription Agreement, the Form F-4 or
Proxy Statement (including any amendments or supplements thereto) or as otherwise required by applicable law, rule or regulation,
the Issuer or the SPAC will not specifically name the Subscriber.  Other than in the Registration Statement contemplated by
Section 5 of this Subscription Agreement, as required by any laws, rules or regulations (including, without limitation, securities
laws, rules or regulations), at the request of the staff of the Commission or any regulatory agency or as set forth in the
immediately preceding sentence, without Subscriber’s prior written consent (including by email), neither the Issuer nor the
SPAC shall, and shall cause their respective  officers, directors, affiliates, and agents (including the Placements Agents) not
to, publicly disclose the name of the Subscriber or any of its affiliates or investment advisers (i) in any press release or
marketing materials or (ii) in any filing with the Commission or any regulatory agency or trading market other than as set forth
above, except to the Issuer’s securityholders, lawyers, independent accountants and other advisors and service providers who
reasonably require such information in connection with the provision of services to such person, are advised of the confidential
nature of such information and are obligated to keep such information confidential; provided that, in the case of the foregoing
clauses (i) and (ii), the Issuer or SPAC, as applicable, shall provide Subscriber with prior written notice (including by e-mail) of
such permitted disclosure, and shall reasonably consult with Subscriber regarding such disclosure, in each case, to the extent such
disclosure specifically names Subscriber. Subscriber will promptly provide any information reasonably requested by the Issuer or the
SPAC for any regulatory application or filing made or approval sought in connection with the Transactions (including filings with
the SEC).

 

    26 

     

    

 

9.            
Trust Account Waiver. Notwithstanding anything to the contrary set forth herein, Subscriber acknowledges that it has read
the Investment Management Trust Agreement, dated as of September 17, 2021, by and between the SPAC and Continental Stock Transfer &
Trust SPAC, a New York corporation, and understands that the SPAC has established the trust account described therein (the “Trust
Account”) for the benefit of the SPAC’s public shareholders and that disbursements from the Trust Account are available
only in the limited circumstances set forth therein. Subscriber further acknowledges and agrees that the SPAC’s sole assets consist
of the cash proceeds of the SPAC’s initial public offering and private placements of its securities, and that substantially all
of these proceeds have been deposited in the Trust Account for the benefit of its public shareholders. Accordingly, Subscriber (on behalf
of itself and its controlled affiliates) hereby waives any past, present or future claim of any kind against, and any right to access,
the Trust Account, any trustee of the Trust Account and the SPAC to collect from the Trust Account any monies that may be owed to them
by the SPAC or any of its affiliates for any reason whatsoever, and will not seek recourse against the Trust Account at any time for
any reason whatsoever, including for any knowing and intentional material breach by any of the parties to this Subscription Agreement
of any of its representations or warranties as set forth in this Subscription Agreement, or such party’s material breach of any
of its covenants or other agreements set forth in this Subscription Agreement, which material breach constitutes, or is a consequence
of, a purposeful act or failure to act by such party with the knowledge that the taking of such act or failure to take such act would
cause a material breach of this Subscription Agreement; provided, however, that nothing in this Section 9 shall be
deemed to limit Subscriber’s right, title, interest, or claim to the Trust Account by virtue of Subscriber’s record or beneficial
ownership of securities of the SPAC acquired by any means, other than pursuant to this Subscription Agreement, including any redemption
right with respect to any such securities of the SPAC. In the event Subscriber has any Claim against the SPAC under this Subscription
Agreement, Subscriber shall pursue such Claim solely against the SPAC and its assets outside the Trust Account and not against the property
or any monies in the Trust Account. This Section ‎9 shall
survive the termination of this Subscription Agreement for any reason.

 

10.       Rule
144. From and after such time as the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the Commission that may allow Subscriber to sell the Units to the public without registration are available to holders of the Issuer’s
ordinary shares and until the second (2nd) anniversary of the Closing Date, the Issuer shall, at its expense:

 

(a)           
make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)            use
commercially reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the
Issuer under the Securities Act and the Exchange Act so long as the Issuer remains subject to such requirements and the filing of
such reports and other documents is required for the applicable provisions of Rule 144 to enable Subscriber to sell the Units under
Rule 144 for so long as the Subscriber holds any Units;

 

    27 

     

    

 

(c)           
furnish to Subscriber, promptly upon Subscriber’s reasonable request, (i) a written statement by the Issuer, if true, that
it has complied with the reporting requirements of Rule 144, the Securities Act, and the Exchange Act, (ii) a copy of the most recent
annual or quarterly report of the Issuer and such other reports and documents so filed by the Issuer, and (iii) such other information
as may be reasonably requested to permit Subscriber to sell such securities pursuant to Rule 144 without registration; and

 

(d)           
If in the opinion of counsel to the Issuer, it is then permissible to remove the restrictive legend from the Units pursuant to
Rule 144 under the Securities Act, then at Subscriber’s request, the Issuer will request its transfer agent to remove the legend
set forth in Section ‎3(a)(v).

 

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

 

[Signature Page Follows]

 

    28 

     

    

 

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

 

	 	ISSUER

 

	 	SATIXFY COMMUNICATIONS LTD.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	SPAC

 

	 	ENDURANCE ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    

     

    

 

Accepted and agreed this [·]
day of __________

 

SUBSCRIBER:

 

	Signature of Subscriber:	 	Signature of Joint Subscriber, if applicable:
	 	 	 
	By:	 	 	By:	 
	 	Name:	 	 	Name:
	 	Title:	 	 	Title:

 

Date: [·], 2022

 

	Name of Subscriber:	 	By:	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 securities are to be registered

(if different from the name of Subscriber listed

directly above):

 

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.:
	E-mail: 	 	Facsimile No.:

 

    

     

    

 

Aggregate Number of Units subscribed for:

 

Aggregate Purchase Price: $

 

You must pay the Purchase Price by wire transfer of U.S. dollars in
immediately available funds, to be held in escrow until the Closing, to the account specified by the Issuer in the Closing Notice. The
aggregate Purchase Price assumes that the Issuer has effected a stock split prior to the Effective Time, on the terms contemplated by
the Merger Agreement, in order to cause the value of each Ordinary Share to equal $10.00.

 

    

     

    

 

 

SCHEDULE I

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

		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 of 1933, as amended (the “Securities Act”)) (a “QIB”) and
                                                                have marked and initialed the appropriate box on the following pages indicating the provision under which we qualify as a QIB.

 

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

 

*** OR ***

 

		B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS (Please check the applicable subparagraphs):

 

		1.	 ̈ We are an “accredited investor” (within the meaning
of Rule 501(a) under the Securities Act) and have marked and initialed the appropriate box on the following pages indicating the provision
under which we qualify as an “accredited investor.”

 

		2.	 ̈ We are not a natural person.-

 

*** AND ***

 

		C.	QUALIFIED ISRAELI INVESTOR STATUS (for Israeli investors only – please check the applicable box): N/A

 

		1.	Are you an investor in one of the categories listed in the First Addendum to the Israeli Securities Law, 5728-1968, and listed on
pages I-8 – I- 9, such an investor being referred to in this Questionnaire as a “Qualified Israeli Investor”?

 

 ̈
Yes  ̈ No

 

		2.	Please specify the category of investors listed in the First Addendum to the Israeli Securities Law, 5728-1968, to which you belong,
by completing pages I-8 – I-9 below.

 

		3.	If you are an individual, please enclose a letter from an attorney or accountant certifying that such person has taken reasonable
measures (other than the relying on a statement made by you) to certify that you are a “Qualified Israeli Investor.” Said
letter should also describe the measures taken by such attorney or accountant.

 

    I-1 

     

    

 

		4.	By signing the Subscription Agreement, you certify that you are fully familiar, following advice of your own legal counsel, with the
implications of being a Qualified Israeli Investor investing in the Ordinary Shares of SatixFy Communications Ltd. and agree to it.

 

*** AND ***

 

		D.	AFFILIATE STATUS (Please check the applicable box) SUBSCRIBER:

 

		 ̈	is:

 

		 ̈	is not:

 

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

 

This page should be completed
by Subscriber

and constitutes a part of the Subscription Agreement.

 

    I-2 

     

    

 

“QUALIFIED INSTITUTIONAL BUYER”
STATUS

 

The Subscriber is a “qualified institutional
buyer” (within the meaning of Rule 144A under the Securities Act) if it is an entity that meets any one of the following categories
at the time of the sale of securities to the Subscriber (Please check the applicable subparagraphs):

 

		 ̈	The Subscriber is an entity that, acting for its own account or the accounts of other qualified institutional buyers, in the aggregate
owns and invests on a discretionary basis at least $100 million in securities of issuers that are not affiliated with the Subscriber and:

 

		 ̈	is an insurance company as defined in section 2(a)(13) of the Securities Act;

 

		 ̈	is an investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”),
or any business development company as defined in section 2(a)(48) of the Investment Company Act;

 

		 ̈	is a 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, as amended (“Small Business Investment Act”) or any Rural Business Investment Company
as defined in section 384A of the Consolidated Farm and Rural Development Act of 1972 (“Consolidated Farm and Rural Development
Act”);

 

		 ̈	is a 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;

 

		 ̈	is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”);

 

		 ̈	is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans 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, of (b) employee benefit plan within the meaning of Title I of the ERISA, except, in each case, trust funds that include
as participants individual retirement accounts or H.R. 10 plans;

 

		 ̈	is a business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940, as amended (the “Investment
Advisers Act”);

 

		 ̈	is an organization described in section 501(c)(3) of the Code, corporation (other than a bank as defined in section 3(a)(2) of the
Act, a savings and loan association or other institution referenced in section 3(a)(5)(A) of the Act, or a foreign bank or savings and loan association or
equivalent institution), partnership, limited liability company, or Massachusetts or similar business trust;

 

		 ̈	is an investment adviser registered under the Investment Advisers Act; or

 

		 ̈	is an institutional accredited investor, as defined below, that does not qualify for any other category of “Qualified Institutional
Buyer” listed herein.

 

    I-3 

     

    

 

		 ̈	The Subscriber is a dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), acting for its own account or the accounts of other qualified institutional buyers, that in the aggregate owns and invests
on a discretionary basis at least $10 million of securities of issuers that are not affiliated with the Subscriber;

 

		 ̈	The Subscriber is a dealer registered pursuant to Section 15 of the Exchange Act acting in a riskless principal transaction on behalf
of a qualified institutional buyer;

 

		 ̈	The Subscriber is an investment company registered under the Investment Company Act, acting for its own account or for the accounts
of other qualified institutional buyers, that is part of a family of investment companies2
which own in the aggregate at least $100 million in securities of issuers, other than issuers that are affiliated with Subscriber or are
part of such family of investment companies;

 

		 ̈	The Subscriber is an entity, all of the equity owners of which are qualified institutional buyers, acting for its own account or the
accounts of other qualified institutional buyers; or

 

		 ̈	The Subscriber is a 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, or any foreign bank or savings and loan association or equivalent institution,
acting for its own account or the accounts of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary
basis at least $100 million in securities of issuers that are not affiliated with the Subscriber and that has an audited net worth of
at least $25 million as demonstrated in its latest annual financial statements, as of a date not more than 16 months preceding the date of sale of securities in the
case of a US bank or savings and loan association, and not more than 18 months preceding the date of sale of securities for a foreign
bank or savings and loan association or equivalent institution.

 

 

2
“Family of investment companies” means any two or more investment companies registered under the Investment
Company Act, except for a unit investment trust whose assets consist solely of shares of one or more registered investment companies,
that have the same investment adviser (or, in the case of unit investment trusts, the same depositor); provided that, (a) each series
of a series company (as defined in Rule 18f-2 under the Investment Company Act) shall be deemed to be a separate investment company and
(b) investment companies shall be deemed to have the same adviser (or depositor) if their advisers (or depositors) are majority-owned
subsidiaries of the same parent, or if one investment company’s adviser (or depositor) is a majority-owned subsidiary of the other
investment company’s adviser (or depositor)

 

    I-4 

     

    

 

Rule 501(a) under the Securities Act, 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(es) 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 investment adviser registered pursuant to section 203 of the Investment Advisers Act or registered pursuant to the laws of a state;

 

		 ̈	Any investment adviser relying on the exemption from registering with the Commission under section 203(l) or (m) of the Investment
Advisers Act;

 

		 ̈	Any insurance company as defined in section 2(a)(13) of the Securities Act;

 

		 ̈	Any investment company registered under the Investment Company Act or a business development company as defined in section 2(a)(48)
of the Investment Company 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;

 

		 ̈	Any Rural Business Investment Company as defined in section 384A of the Consolidated Farm and Rural Development Act;

 

		 ̈	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 Title I of the ERISA, if (i) the investment decision is made by a plan fiduciary,
as defined in section 3(21) of ERISA, which is either a bank, a savings and loan association, an insurance company, or a registered investment
adviser, (ii) the employee benefit plan has total assets in excess of $5,000,000 or, (iii) such plan is a self-directed plan, with investment
decisions made solely by persons that are “accredited investors”;

 

    I-5 

     

    

 

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

 

		 ̈	Any (i) corporation, limited liability company or partnership, (ii) Massachusetts or similar business trust, or (iii) organization
described in section 501(c)(3) of the Code, in each case that was not formed for the specific purpose of acquiring the securities offered
and that has 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 or spousal equivalent, exceeds $1,000,000.
For purposes of calculating a natural person’s net worth: (a) the person’s primary residence shall not be included as an asset;
(b) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence
at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding
at the time of sale of securities 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 shall 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 primary residence at the time of the sale of securities shall 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 or spousal equivalent 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 total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in Section 230.506(b)(2)(ii) of Regulation D under the Securities Act;

 

		 ̈	Any entity in which all of the equity owners are “accredited investors”;

 

		 ̈	Any entity, other than an entity described in the categories of “accredited investors” above, not formed for the specific
purpose of acquiring the securities offered, owning investments in excess of $5,000,000;

 

		 ̈	Any natural person holding in good standing one or more professional certifications or designations or credentials from an accredited
educational institution that the Commission has designated as qualifying an individual for accredited investor status;

 

		 ̈	Any natural person who is a “knowledgeable employee,” as defined in the Investment Company Act, of the issuer of the securities
being offered or sold where the issuer would be an investment company, as defined
in section 3 of such act, but for the exclusion provided by either section 3(c)(1) or section 3(c)(7) of such act;

 

		 ̈	Any “family office,” as defined under the Investment Advisers Act that satisfies all of the following conditions: (i)
with assets under management in excess of $5,000,000, (ii) that is not formed for the specific purpose of acquiring the securities offered,
and (iii) whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters
that such family office is capable of evaluating the merits and risks of the prospective investment; or

 

		 ̈	Any “family client,” as defined under the Investment Advisers Act, of a family office meeting the requirements in the
previous paragraph and whose prospective investment in the issuer is directed by such family office pursuant to the previous paragraph.

 

    I-6 

     

    

 

“QUALIFIED ISRAELI INVESTOR” STATUS

 

The Subscriber is a “Qualified Israeli
Investor” if it is an entity that meets any one of the following categories at the time of the sale of securities to the Subscriber
(Please check the applicable subparagraphs):

 

		 ̈	A joint investment fund or the manager of such a fund within the meaning of the Joint Investments in Trust Law, 5754-1994;

 

		 ̈	A provident fund or the manager of such a fund within the meaning of the Control of Financial Services Law (Provident Funds), 5765-2005;

 

		 ̈	An insurance company as defined in the Supervision of Insurance Business Law, 5741-1981;

 

		 ̈	A banking corporation or a supporting corporation within the meaning of the Banking (Licensing) Law, 5741-1981, with the exception
of a joint services company, purchasing for its own account or for the accounts of clients who are Qualified Israeli Investors;

 

		 ̈	A licensed portfolio manager within the meaning of the Regulation of Investment Advice, Investment Marketing and Investment Portfolio
Management Law, 5755-1995, purchasing for its own account or for the accounts of clients who are Qualified Israeli Investors;

 

		 ̈	A licensed investment advisor or a licensed investment marketer within the meaning of the Regulation of Investment Advice, Investment
Marketing and Investment Portfolio Management Law, 5755-1995, purchasing for its own account;

 

		 ̈	A member of the Tel Aviv Stock Exchange, purchasing for its own account or for the accounts of clients who are Qualified Israeli Investors;

 

		 ̈	An underwriter that satisfies the criteria prescribed in Section 56(c) of the Israeli Securities Law, 5728-1968, purchasing for its
own account;

 

		 ̈	A venture capital fund (defined for this purpose as an entity whose principal activity is investing in entities that are engaged primarily
in research and development, or in the manufacture of innovative products and processes, with an unusually high investment risk);

 

		 ̈	An entity that is wholly owned by Qualified Israeli Investors; or

 

		 ̈	An entity, except for an entity that was incorporated for the purpose of investing in securities in a specific offering, whose shareholders
equity exceeds NIS 50 million.

 

    I-7 

     

    

 

		 ̈	An individual who meets any of the below criteria (please check all relevant boxes below and provide an up to date written confirmation
from a lawyer or accountant):

 

		 ̈	The
aggregate value of Liquid Assets3 owned
by the undersigned exceeds NIS 8,095,444.

 

		 ̈	The undersigned’s income in each of the last two years exceeds NIS 1,214,317, or the undersigned’s aggregate Family Unit4
income exceeds NIS 1,821,475.

 

		 ̈	The aggregate value of Liquid Assets owned by the undersigned exceeds NIS 5,059,652 and the undersigned’s income in each of
the last two years exceeds NIS 607,158, or his/her aggregate Family Unit income exceeds NIS 910,737.

 

 

3
Liquid Assets means cash, deposits (including foreign currency deposits), financial assets (units or shares in registered funds, options,
futures contracts, structures and professional training funds), and traded securities.

 

4
Family Unit means an individual and his/her family members who live with him/her or whose livelihoods are
dependent on each other.

 

    I-8Exhibit 10.6

 

EXECUTION VERSION

 

PURCHASE AGREEMENT

 

This PURCHASE AGREEMENT
is made and entered into as of March 8, 2022 (this “Agreement”), by and between CF Principal Investments
LLC, a Delaware limited liability company (the “Investor”), and SatixFy Communications Ltd., a limited liability
company organized under the laws of the State of Israel (the “Company”), the resulting publicly listed company
pursuant to the transactions contemplated by that certain Business Combination Agreement (the “Business Combination Agreement”),
dated as of February 28, 2022, by and between the Company, Endurance Acquisition Corp., a Cayman Islands exempted company (“SPAC”)
and SatixFy MS, a Cayman Islands exempted company and a direct, wholly owned subsidiary of the Company, such transactions being referred
to herein as the “Merger”.

 

RECITALS

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions and limitations set forth herein, the Company may issue and sell
to the Investor, from time to time as provided herein, and the Investor shall purchase from the Company, up to the lesser of (i) $75,000,000
in aggregate gross purchase price of newly issued ordinary shares, par value $0.0001 per share, in the capital of the Company (the “Common
Shares”), and (ii) the Exchange Cap (to the extent applicable under Section 3.3);

 

WHEREAS,
such sales of Common Shares by the Company to the Investor will be made in reliance upon the provisions of Section 4(a)(2) of
the Securities Act (“Section 4(a)(2)”) and/or Rule 506(b) of Regulation D promulgated by the
Commission under the Securities Act (“Regulation D”), and upon such other exemption from the registration requirements
of the Securities Act as may be available with respect to any or all of the issuances and sales of Common Shares by the Company to the
Investor to be made hereunder; AND

 

WHEREAS,
immediately following the closing of the Merger and the transactions contemplated by the Business Combination Agreement (the “Closing”)
the parties intend to enter to into a Registration Rights Agreement in the form attached as Exhibit A hereto (the “Registration
Rights Agreement”), pursuant to which the Company shall register the resale of the Registrable Securities (as defined in
the Registration Rights Agreement), upon the terms and subject to the conditions set forth therein.

 

NOW,
THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Article I

DEFINITIONS

 

Capitalized terms used in
this Agreement shall have the meanings ascribed to such terms in Annex I hereto, and hereby made a part hereof, or as otherwise
set forth in this Agreement.

 

     

     

    

 

Article II

PURCHASE AND SALE OF COMMON SHARES

 

Section 2.1         Purchase
and Sale of Stock. Upon the terms and subject to the conditions of this Agreement, during
the Investment Period, the Company, in its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor,
and the Investor shall purchase from the Company, up to the lesser of (i) $75,000,000 (the “Total Commitment”)
in aggregate gross purchase price of duly authorized, validly issued, fully paid and non-assessable shares of Common Shares and (ii) the
Exchange Cap, to the extent applicable under Section 3.3 (such lesser amount of Common Shares, the “Aggregate Limit”),
by the delivery to the Investor of VWAP Purchase Notices as provided in Article III.

 

Section 2.2         Commitment
Date; Settlement Dates. This Agreement shall become effective and binding (the “Commitment
Effective Time”) upon (a) the delivery of counterpart signature pages of this Agreement executed by each of the
parties hereto, and (b) the delivery of all other documents, instruments and writings required to be delivered at the Closing, in
each case as provided in Section 7.1, to the offices of King & Spalding LLP at 1185 6th Avenue, Floor 34, New
York, New York 10036, at 7:30 a.m., New York City time, on the Commitment Date. In consideration of and in express reliance upon the representations,
warranties and covenants contained in, and upon the terms and subject to the conditions of, this Agreement, during the Investment Period,
the Company, at its sole option and discretion, may issue and sell to the Investor, and, if the Company elects to so issue and sell, the
Investor shall purchase from the Company, the Shares in respect of each VWAP Purchase. The delivery of Shares in respect of each VWAP
Purchase, and the payment for such Shares, shall occur in accordance with Section 3.2, provided that all of the conditions
precedent in Article VII shall have been fulfilled at the applicable times set forth in Article VII.

 

Section 2.3         Initial
Public Announcements and Required Filings. The Company shall, not later than 5:00 p.m., New
York City time, on the next business day following the date of this Agreement, cause SPAC to file with the Commission a Current Report
on Form 8-K disclosing the execution of this Agreement by the Company and the Investor and describing the material terms thereof,
and attaching as exhibits thereto a copy of this Agreement and if applicable, any press release issued by the Company disclosing the execution
of this Agreement and the Registration Rights Agreement by the Company (including all exhibits thereto, the “Current Report”).
The Company shall provide the Investor and its legal counsel a reasonable opportunity to comment on a draft of the Current Report prior
to filing the Current Report with the Commission and shall give due consideration to all such comments. From and after the Closing, the
Company shall, or caused SPAC to publicly disclose, to have publicly disclosed all material, nonpublic information delivered to the Investor
(or the Investor’s representatives or agents) by the Company or any of its Subsidiaries, or any of their respective officers, directors,
employees, agents or representatives (if any) in connection with the transactions contemplated by the Transaction Documents, except as
otherwise agreed by the Investor. The Company shall use its commercially reasonable efforts to prepare and, as soon as practicable following
the Merger, file with the Commission the Initial Registration Statement and any New Registration Statement covering only the resale by
the Investor of the Registrable Securities in accordance with the Securities Act and the Registration Rights Agreement. At or before 8:30
a.m. (New York City time) on the second (2nd) Trading Day immediately following the Effective Date of the Initial Registration Statement
and any New Registration Statement (or any post-effective amendment thereto), the Company shall use its commercially reasonable efforts
to file with the Commission in accordance with Rule 424(b) under the Securities Act the final Prospectus to be used in connection
with sales pursuant to such Registration Statement (or post-effective amendment thereto).

 

    	 	2	 

     

    

 

Article III

PURCHASE TERMS

 

Subject to the satisfaction
of the conditions set forth in Article VII, the parties agree as follows:

 

Section 3.1         VWAP
Purchases. Upon the initial satisfaction of all of the conditions set forth in Section 7.2
(the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement
Date”) and from time to time thereafter, subject to the satisfaction of all of the conditions set forth in Section 7.3,
the Company shall have the right, but not the obligation, to direct the Investor, by its timely delivery to the Investor of a VWAP Purchase
Notice, in substantially the form attached hereto as Exhibit D, after 6:00 a.m., New York City time, but prior to 9:00 a.m.,
New York City time, on a VWAP Purchase Date, to purchase a number of Shares equal to the applicable VWAP Purchase Share Amount, not to
exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP Purchase Price therefor on such VWAP Purchase Date in accordance
with this Agreement (each such purchase, a “VWAP Purchase”). In addition, the Investor may, in its sole discretion,
accept a VWAP Purchase Notice after 9:00 a.m., New York City time, on a VWAP Purchase Date, provided that such acceptance, once provided,
shall be irrevocable and binding and the Company’s obligation to deliver the shares that are the subject of such VWAP Purchase Notice
shall be binding; provided that, if the Investor does not accept a VWAP Purchase Notice that is delivered after 9:00 a.m., New York City
time, such VWAP Purchase Notice shall be deemed to be null and void. The Investor may also, in its sole discretion, accept additional
VWAP Purchase Notices within a Trading Day, in which case any prior VWAP Purchase Notice accepted by the Investor in such Trading Day
shall be null, void, superseded and replaced in its entirety by such subsequent VWAP Purchase Notice. The Company may timely deliver a
VWAP Purchase Notice to the Investor as often as every Trading Day (and may deliver multiple VWAP Purchase Notices in any given day, it
being understood that a subsequent VWAP Purchase Notice will supersede and replace all earlier VWAP Purchase Notices delivered within
the same Trading Day in their entirety), so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received
by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement.
The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and
subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing
the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice
shall be void ab initio to the extent of the amount by which the VWAP Purchase Share Amount set forth in such VWAP Purchase Notice
exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase such excess Shares in respect
of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP
Purchase Maximum Amount in such VWAP Purchase. Each VWAP Purchase Notice must be include a VWAP Purchase Share Estimate. Each VWAP Purchase
Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Investor an amount of Common
Shares equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Shares constituting the applicable
VWAP Purchase Share Amount that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. The Investor will promptly
instruct the Transfer Agent to return to the Company any amount of Common Shares issued pursuant to the VWAP Purchase Share Estimate that
exceeds the number of Shares constituting the applicable VWAP Purchase Share Amount the Investor actually purchases in connection with
such VWAP Purchase (such amount the “Excess Shares”). Alternatively, if the Transfer Agent does not return the
Excess Shares to the Company on the VWAP Purchase Date in accordance with the Investor’s instructions, or if otherwise instructed
in writing by the Company, Investor may retain such Excess Shares (provided Investor will not be deemed to have purchased such Excess
Shares), and such excess Shares will be deemed pre-delivered Shares that will reduce the number of Shares required to be delivered by
the Company in accordance with this Section on the next VWAP Purchase Date in connection with such VWAP Purchase Notice. At or prior
to 5:30 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase, the Investor shall provide to the Company a written
confirmation for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP
Purchase Price per Share to be paid by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the
Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. Notwithstanding the foregoing, the
Company shall not deliver any VWAP Purchase Notices to the Investor during the Post-Effective Amendment Period.

 

    	 	3	 

     

    

 

Section 3.2         Settlement.
For purposes of this section the “VWAP Purchase Share Delivery Date” shall be the date of the VWAP Purchase Notice, or such
later date on which the Shares are actually delivered to the Investor (it being acknowledged and agreed that the Company may not deliver
any additional VWAP Purchase Notice to the Investor until all such Shares subject to such VWAP Purchase, and all Shares subject to all
prior VWAP Purchase Notices, have been received by the Investor as DWAC Shares in accordance with this Agreement). For each VWAP Purchase,
the Investor shall pay to the Company an amount in cash equal to the product of (a) the total number of Shares purchased by the Investor
in such VWAP Purchase and (b) the applicable VWAP Purchase Price for such Shares (the “VWAP Purchase Amount”),
as full payment for such Shares purchased by the Investor in such VWAP Purchase, via wire transfer of immediately available funds, not
later than 5:00 p.m., New York City time, on the second (2nd) Trading Day immediately following the applicable VWAP Purchase
Share Delivery Date for such VWAP Purchase, provided the Investor shall have timely received, as DWAC Shares, all of such Shares purchased
by the Investor in such VWAP Purchase on such VWAP Purchase Share Delivery Date in accordance with the first sentence of this Section 3.2,
or, if any of such Shares are received by the Investor after 1:00 p.m., New York City time, then the Company’s receipt of such funds
in its designated account may occur on the next Trading Day following the Trading Day on which the Investor shall have received all of
such Shares as DWAC Shares, but not later than 5:00 p.m., New York City time, on such next Trading Day. If the Investor fails to pay the
VWAP Purchase Amount when due, the Investor will return the DWAC Shares to the Company. If the Company or the Transfer Agent shall fail
for any reason to deliver to the Investor, as DWAC Shares, any Shares purchased by the Investor in a VWAP Purchase prior to 10:30 a.m.,
New York City time, on the second (2nd) Trading Day immediately following the date of the applicable VWAP Purchase Notice for
such VWAP Purchase, and if on or after such Trading Day the Investor purchases (in an open market transaction or otherwise) Common Shares
to deliver in satisfaction of a sale by the Investor of such Shares that the Investor anticipated receiving from the Company on such VWAP
Purchase Share Delivery Date in respect of such VWAP Purchase, then the Company shall, within one (1) Trading Day after the Investor’s
request, either (i) pay cash to the Investor in an amount equal to the Investor’s total purchase price (including brokerage
commissions, if any) for the Common Shares so purchased (the “Cover Price”), at which point the Company’s
obligation to deliver such Shares as DWAC Shares (and Investor’s obligation to purchase such Shares from the Company) shall terminate,
or (ii) promptly honor its obligation to deliver to the Investor such Shares as DWAC Shares and pay cash to the Investor in an amount
equal to the excess (if any) of the Cover Price over the total purchase price paid by the Investor pursuant to this Agreement for all
of the Shares purchased by the Investor in such VWAP Purchase; provided, that Investor agrees to use its commercially reasonable
efforts to purchase Common Shares in respect of the Cover Price only in normal brokerage transactions at the prevailing price per share
of Common Shares then available. The Company shall not issue any fraction of a share of Common Shares to the Investor in connection with
any VWAP Purchase effected pursuant to this Agreement. If the issuance would result in the issuance of a fraction of a share of Common
Shares, the Company shall round such fraction of a share of Common Shares up or down to the nearest whole share. All payments to be made
by the Investor pursuant to this Agreement shall be made by wire transfer of immediately available funds to such account as the Company
may from time to time designate by written notice to the Investor in accordance with the provisions of this Agreement.

 

    	 	4	 

     

    

 

Section 3.3         Compliance
with Rules of Principal Market.

 

(a)         Exchange
Cap. The Company shall not issue or sell any Common Shares pursuant to this Agreement, and the Investor shall not purchase or
acquire any Common Shares pursuant to this Agreement, to the extent that after giving effect thereto, the aggregate number of Common Shares
that would be issued pursuant to this Agreement and the transactions contemplated hereby would exceed 19.99% of the voting power or number
of Common Shares issued and outstanding after giving effect to the Merger and other transactions contemplated by the Business Combination
Agreement, which number of shares shall be reduced, on a share-for-share basis, by the number of Common Shares issued or issuable pursuant
to any transaction or series of transactions that may be aggregated with the transactions contemplated by this Agreement under applicable
rules of the Principal Market (such maximum number of shares, the “Exchange Cap”), unless the Company’s
stockholders have approved the issuance of Common Shares pursuant to this Agreement in excess of the Exchange Cap in accordance with the
applicable rules of the Principal Market. For the avoidance of doubt, the Company may, but shall be under no obligation to, request
its stockholders to approve the issuance of Common Shares pursuant to this Agreement; provided, that if such stockholder approval
is not obtained, the Exchange Cap shall be applicable for all purposes of this Agreement and the transactions contemplated hereby at all
times during the term of this Agreement (except as set forth in Section 3.3(b).

 

(b)         General.
The Company shall not issue or sell any Common Shares pursuant to this Agreement if such issuance or sale would reasonably be expected
to result in (A) a violation by it of the Securities Act (unless such violation is by only caused by the Investor) or (B) a
breach of the rules of the Principal Market. The provisions of this Section 3.3 shall not be implemented in a manner otherwise
than in strict conformity with the terms of this Section 3.3 unless necessary to ensure compliance with the Securities Act and the
applicable rules of the Principal Market.

 

    	 	5	 

     

    

 

Section 3.4         Beneficial
Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement,
the Company shall not issue or sell, and the Investor shall not purchase or acquire, any Common Shares under this Agreement which, when
aggregated with all other Common Shares then beneficially owned by the Investor and its affiliates (as calculated pursuant to Section 13(d) of
the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its affiliates
(on an aggregated basis) of more than 4.99% of the outstanding voting power or Common Shares (the “Beneficial Ownership Limitation”).
The Investor will provide the Company with prior written notice if it and its affiliates plan to go over the Beneficial Ownership Limitation.
Upon the written or oral request of the Investor, the Company shall promptly (but not later than the next business day on which the Transfer
Agent is open for business) confirm orally or in writing to the Investor the number of Common Shares then outstanding. The Investor and
the Company shall each cooperate in good faith in the determinations required under this Section 3.4 and the application of this
Section 3.4. The Investor’s written certification to the Company of the applicability of the Beneficial Ownership Limitation,
and the resulting effect thereof hereunder at any time, shall be conclusive with respect to the applicability thereof and such result
absent manifest error. The provisions of this Section 3.4 shall not be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 3.4 unless necessary to properly give effect to the limitations contained in this Section 3.4.

 

Article IV

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR

 

The Investor hereby makes the following representations,
warranties and covenants to the Company:

 

Section 4.1         Organization
and Standing of the Investor. The Investor is a limited liability company duly formed, validly
existing and in good standing under the laws of the State of Delaware.

 

Section 4.2         Authorization
and Power. The Investor has the requisite corporate power and authority to enter into and
perform its obligations under this Agreement and the Registration Rights Agreement and to purchase or acquire the Shares in accordance
with the terms hereof. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights Agreement
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action, and
no further consent or authorization of the Investor is required. This Agreement has been, and the Registration Rights Agreement, when
executed in accordance with this Agreement shall be, duly executed and delivered by the Investor and constitutes, and the Registration
Rights Agreement shall constitute, a valid and binding obligation of the Investor enforceable against it in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship,
receivership, or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other
equitable principles of general application (including any limitation of equitable remedies).

 

    	 	6	 

     

    

 

Section 4.3         No
Conflicts. The execution, delivery and performance by the Investor of this Agreement, the
Registration Rights Agreement, when executed in accordance with this Agreement, and the consummation by the Investor of the transactions
contemplated hereby and thereby do not and shall not (i) result in a violation of such Investor’s certificate of formation,
limited liability company agreement or other applicable organizational instruments, (ii) conflict with, constitute a default (or
an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights of termination, amendment,
acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument
or obligation to which the Investor is a party or is bound, or (iii) result in a violation of any federal, state, local or foreign
statute, rule, or regulation, or any order, judgment or decree of any court or governmental agency applicable to the Investor or by which
any of its properties or assets are bound or affected, except, in the case of clauses (ii) and (iii), for such conflicts, defaults,
terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise
interfere with, in any material respect, the ability of the Investor to enter into and perform its obligations under this Agreement and
the Registration Rights Agreement. The Investor is not required under any applicable federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for
it to execute, deliver or perform any of its obligations under this Agreement and the Registration Rights Agreement or to purchase or
acquire the Shares in accordance with the terms hereof, other than as may be required by FINRA; provided, however, that
for purposes of the representation made in this sentence, the Investor is assuming and relying upon the accuracy of the relevant representations
and warranties and the compliance with the relevant covenants and agreements of the Company in the Transaction Documents to which it is
a party.

 

Section 4.4         Investment
Purpose. The Investor is acquiring the Shares for its own account, for investment purposes
and not with a view towards, or for resale in connection with, the public sale or distribution thereof, in violation of the Securities
Act or any applicable state securities laws; provided, however, that by making the representations herein, the Investor
does not agree, or make any representation or warranty, to hold any of the Shares for any minimum or other specific term and reserves
the right to dispose of the Shares at any time in accordance with, or pursuant to, a registration statement filed pursuant to the Registration
Rights Agreement or an applicable exemption under the Securities Act. The Investor does not presently have any agreement or undertaking,
directly or indirectly, with any Person to sell or distribute any of the Shares, except in transactions registered under the Securities
Act. The Investor is acquiring the Shares hereunder in the ordinary course of its business.

 

Section 4.5         Accredited
Investor Status. The Investor is an “accredited investor” as that term is defined
in Rule 501(a) of Regulation D.

 

Section 4.6         Reliance
on Exemptions. The Investor understands that the Shares are being offered and sold to it
in reliance on specific exemptions from the registration requirements of U.S. federal and state securities laws and that the Company is
relying in part upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of the Investor set forth herein in order to determine the availability of such exemptions and the
eligibility of the Investor to acquire the Shares.

 

    	 	7	 

     

    

 

Section 4.7         Information.
All materials relating to the business, financial condition, management and operations of the Company and materials relating to the offer
and sale of the Shares which have been requested by the Investor, Prior to the Commitment Date, have been furnished or otherwise made
available to the Investor or its advisors. The Investor understands that its investment in the Shares involves a high degree of risk.
The Investor is able to bear the economic risk of an investment in the Shares and has such Knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of a proposed investment in the Shares. The Investor and its advisors have
been afforded the opportunity to ask questions of and receive answers from representatives of the Company concerning the financial condition
and business of the Company and other matters relating to an investment in the Shares. Neither such inquiries nor any other due diligence
investigations conducted by the Investor or its advisors, if any, or its representatives shall modify, amend or affect the Investor’s
right to rely on the Company’s representations and warranties contained in this Agreement or in any other Transaction Document to
which the Company is a party or the Investor’s right to rely on any other document or instrument executed and/or delivered in connection
with this Agreement or the consummation of the transaction contemplated hereby (including, without limitation the opinions of the Company’s
counsel delivered pursuant to this Agreement and the Registration Rights Agreement). The Investor has sought such accounting, legal and
tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Shares. The Investor
understands that it (and not the Company) shall be responsible for its own tax liabilities that may arise as a result of this investment
or the transactions contemplated by this Agreement.

 

Section 4.8         No
Governmental Review. The Investor understands that no United States federal or state agency
or any other government or governmental agency has passed on or made any recommendation or endorsement of the Shares or the fairness or
suitability of the investment in the Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.

 

Section 4.9         No
General Solicitation. The Investor is not purchasing or acquiring the Shares as a result
of any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of
the Shares.

 

Section 4.10         Not
an Affiliate. The Investor is not an officer, director or an Affiliate of the Company. During
the Investment Period, the Investor will not acquire for its own account any Common Shares or securities exercisable for or convertible
into Common Shares, other than pursuant to this Agreement; provided, however, that nothing in this Agreement shall prohibit
or be deemed to prohibit the Investor from purchasing, in an open market transaction or otherwise, Common Shares necessary to make delivery
by the Investor in satisfaction of a sale by the Investor of Shares that the Investor anticipated receiving from the Company in connection
with the settlement of a VWAP Purchase if the Company or its transfer agent shall have failed for any reason (other than a failure of
Investor or its Broker-Dealer (as defined below) to set up a DWAC and required instructions) to electronically transfer all of the Shares
subject to such VWAP Purchase to the Investor on the applicable VWAP Purchase Share Delivery Date by crediting the Investor’s or
its designated Broker-Dealer’s account at DTC through its DWAC delivery system in compliance with Section 3.2 of this Agreement.
For the avoidance of doubt, the foregoing restriction does not apply to any affiliate of the Investor, provided that any such purchases
do not cause the Investor to violate any applicable Exchange Act requirement, including Regulation M.

 

    	 	8	 

     

    

 

Section 4.11         No
Prior Short Sales. At no time prior to the date of this Agreement has the Investor, its sole
member or any of their respective officers or any entity managed or controlled by the Investor or its sole member, engaged in or effected,
in any manner whatsoever, directly or indirectly, for its own principal account, any (i) “short sale” (as such term is
defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Shares of either SPAC or the Company or (ii) hedging
transaction, which establishes a net short position with respect to the Company Shares of either SPAC or the Company that remains in effect
as of the date of this Agreement, unless any transaction referred to in (i) or (ii) was carried out in a manner that did not
violate Section 5 of the Securities Act with respect to the Common Shares of either the SPAC or the Company.

 

Section 4.12         Statutory
Underwriter Status. The Investor acknowledges that it will be disclosed as an “underwriter”
and a “selling shareholder” in each Registration Statement and in any Prospectus contained therein to the extent required
by applicable law and to the extent the Prospectus is related to the resale of Registrable Securities.

 

Section 4.13         Resales
of Shares. The Investor will resell such Shares only pursuant to the Registration Statement
in which the resale of such Shares is registered under the Securities Act, in a manner described under the caption “Plan of Distribution”
in such Registration Statement, and in a manner in compliance with all applicable U.S. federal and state securities laws, rules and
regulations.

 

Section 4.14         Residency.
The Investor is a resident of the State of Delaware.

 

Article V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY

 

The Company hereby makes the following representations,
warranties and covenants to the Investor, except as disclosed in the Disclosure Schedules to this Agreement or filed in the Commission
Documents:

 

Section 5.1         Organization,
Good Standing and Power. The Company and each of its Subsidiaries are duly organized, validly
existing as a corporation or company and in good standing under the laws of their respective jurisdictions of organization to the extent
such jurisdictions have the concept of good standing or a similar concept. The Company and each of its Subsidiaries are duly licensed
or qualified as a foreign corporation for transaction of business and in good standing under the laws of each other jurisdiction in which
their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification,
and have all corporate power and authority necessary to own or hold their respective properties and to conduct their respective businesses,
except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate,
have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business,
operations, earnings, properties, condition (financial or otherwise), prospects, stockholders’ equity or results of operations of
the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation of the transactions contemplated
hereby (a “Material Adverse Effect”).

 

    	 	9	 

     

    

 

Section 5.2         Subsidiaries.
The subsidiaries set forth on Schedule 5.2 (collectively, the “Subsidiaries”),
are the Company’s only significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X promulgated by the
Commission). Except as set forth in Schedule 5.2 of this Agreement, the Company owns, directly or indirectly, all of the equity interests
of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and
all the equity interests of the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights.
Except as set forth in Schedule 5.2 of this Agreement, each of the Company’s Subsidiaries is duly licensed or qualified and in good
standing (or equivalent status as applicable) as a foreign corporation (or other entity, if applicable) in each jurisdiction in which
the assets owned or leased by it or the character of its activities require it to be licensed or qualified or in good standing (or equivalent
status as applicable), except where the failure to be so licensed or qualified, individually or in the aggregate, has not had and would
not be expected to have a Material Adverse Effect.

 

Section 5.3         Authorization,
Enforcement. Except for approvals of the Company’s Board of Directors or a committee
thereof as may be required in connection with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained
prior to the delivery of any VWAP Purchase Notice), the Company has the requisite corporate power and authority to enter into and perform
its obligations under each of the Transaction Documents to which it is a party and to issue the Shares in accordance with the terms hereof
and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection with
any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior to the delivery of any VWAP Purchase
Notice), the execution, delivery and performance by the Company of each of the Transaction Documents to which it is a party and the consummation
by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action, and
no further consent or authorization of the Company, its Board of Directors or its stockholders is required. Each of the Transaction Documents
to which the Company is a party has been duly executed and delivered by the Company and constitutes a valid and binding obligation of
the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally
the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation
of equitable remedies).

 

Section 5.4         Capitalization.
As of the Commitment Effective Time, the authorized capital stock of the Company and the shares thereof issued and outstanding shall be
as set forth in Schedule 5.4 to this Agreement as of the dates reflected therein. All of the outstanding Common Shares have been duly
authorized and validly issued and are fully paid and non-assessable. Except as set forth in Schedule 5.4 to this Agreement, this Agreement
and the Registration Rights Agreement, there are no agreements or arrangements under which the Company is obligated to register the sale
of any securities under the Securities Act. Except as set forth in Schedule 5.4 of this Agreement, no Common Shares are entitled to preemptive
rights. Except for customary transfer restrictions contained in agreements entered into by the Company to sell restricted securities or
as set forth in the Commission Documents from time to time, the Company is not a party to, and it has no Knowledge of, any agreement restricting
the voting or transfer of any shares of the capital stock of the Company. Except as set forth in Schedule 5.4 to this Agreement, there
are no securities or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement or any of the
other Transaction Documents or the consummation of the transactions described herein or therein. The Company will file, as provided to
the Investor prior to the Commencement Date, true and correct copies of the Company’s Amended and Restated Memorandum and Articles
of Association as in effect on the Commitment Date (the “Articles”).

 

    	 	10	 

     

    

 

Section 5.5         Issuance
of Shares. The Shares to be issued under this Agreement have been, or with respect to Shares
to be purchased by the Investor pursuant to a particular VWAP Purchase Notice, will be, prior to the delivery to the Investor hereunder
of such VWAP Purchase Notice, duly and validly authorized by all necessary corporate action on the part of the Company. The Shares, if
and when issued and sold against payment therefor in accordance with this Agreement, shall be validly issued and outstanding, fully paid
and non-assessable and free from all liens, charges, taxes, security interests, encumbrances, rights of first refusal, preemptive or similar
rights and other encumbrances with respect to the issue thereof, and the Investor shall be entitled to all rights accorded to a holder
of Common Shares. At or prior to Commencement, the Company shall have duly authorized and reserved a number of shares of Common Shares
equal to the Exchange Cap for issuance and sale as Shares to the Investor pursuant to VWAP Purchases that may be effected by the Company,
in its sole discretion, from time to time from and after the Commencement Date, pursuant to this Agreement.

 

Section 5.6         No
Conflicts. The execution, delivery and performance by the Company of each of the Transaction
Documents to which it is a party and the consummation by the Company of the transactions contemplated hereby and thereby do not and shall
not (i) result in a violation of any provision of the Company’s Articles, (ii) conflict with or constitute a material
default (or an event which, with notice or lapse of time or both, would become a material default) under, or give rise to any rights of
termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond, license,
lease agreement, instrument or obligation to which the Company or any of its Subsidiaries is a party or is bound, (iii) create or
impose a lien, charge or encumbrance on any the Shares if and when issued and sold against payment therefor in accordance with this Agreement,
(iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable
to the Company or any of its Subsidiaries (including federal and state securities laws and regulations and the rules and regulations
of the Principal Market or applicable Principal Market), except, in the case of clauses (ii), (iii) and (iv), for such conflicts,
defaults, terminations, amendments, acceleration, cancellations, liens, charges, encumbrances and violations as would not, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Effect or that have been waived. Except as specifically contemplated
by this Agreement or the Registration Rights Agreement and as required under the Securities Act, any applicable state securities laws
and applicable rules of the Principal Market, the Company is not required under any federal, state or local rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency (including,
without limitation, the Principal Market) in order for it to execute, deliver or perform any of its obligations under the Transaction
Documents to which it is a party, or to issue the Shares to the Investor in accordance with the terms hereof and thereof (other than such
consents, authorizations, orders, filings or registrations as have been obtained or made prior to the Commitment Date); provided,
however, that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy
of the representations and warranties of the Investor in this Agreement and the compliance by it with its covenants and agreements contained
in this Agreement and the Registration Rights Agreement.

 

    	 	11	 

     

    

 

Section 5.7         Commission
Documents, Financial Statements; Internal Controls Over Financial Reporting; Accountants.

 

(a)         As
of the date of this Agreement, neither the Company nor any Subsidiary of the Company is required to file or furnish any report, schedule,
registration, form, statement, information or other document with the Commission. As of its filing date (or, in the case of the Company’s
Registration Statement on Form F-4 filed in connection with the Merger, as of its effective date), each Commission Document filed
with or furnished to the Commission shall in all material respects with the requirements of the Securities Act or the Exchange Act, as
applicable, and other federal, state and local laws, rules and regulations applicable to it, and, as of its filing date (or, if amended
or superseded by a filing prior to the Commitment Date, on the date of such amended or superseded filing). Each Registration Statement,
on the date it is filed with the Commission, on the date it is declared effective by the Commission and on each VWAP Purchase Date shall
comply in all material respects with the requirements of the Securities Act (including, without limitation, Rule 415 under the Securities
Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
in order to make the statements therein not misleading, except that this representation and warranty shall not apply to statements in
or omissions from such Registration Statement made in reliance upon and in conformity with information relating to the Investor furnished
to the Company in writing by or on behalf of the Investor expressly for use therein. The Prospectus and each Prospectus Supplement required
to be filed pursuant to this Agreement or the Registration Rights Agreement after the Closing, when taken together, on its date and on
each VWAP Purchase Date shall comply in all material respects with the requirements of the Securities Act (including, without limitation,
Rule 424(b) under the Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading, except that this representation and warranty shall not apply to statements in or omissions from the Prospectus
or any Prospectus Supplement made in reliance upon and in conformity with information relating to the Investor furnished to the Company
in writing by or on behalf of the Investor expressly for use therein. The statistical, demographic and market-related data included in
the Registration Statement and Prospectus shall be based on or derived from sources that the Company believes to be reliable and accurate
or represent the Company’s good faith estimates that are made on the basis of data derived from such sources. Each Commission Document
(other than the Initial Registration Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus
Supplement thereto) to be filed with or furnished to the Commission after the Commitment Date and incorporated by reference in the Initial
Registration Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement thereto required
to be filed pursuant to this Agreement or the Registration Rights Agreement (including, without limitation, the Current Report), when
such document is filed with or furnished to the Commission and, if applicable, when such document becomes effective, as the case may be,
shall comply in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and other federal,
state and local laws, rules and regulations applicable to it. The Commission has not issued any stop order or other order suspending
the effectiveness of any registration statement filed by the Company under the Securities Act or the Exchange Act.

 

    	 	12	 

     

    

 

(b)         The
consolidated financial statements of the Company that will be included or incorporated by reference in the Commission Documents, together
with the related notes and schedules, will present fairly, in all material respects, the consolidated financial position of the Company
and its then consolidated subsidiaries as of the dates indicated on Schedule 5.7(b) of this Agreement, and the consolidated results
of operations, cash flows and changes in stockholders’ equity of the Company and its then consolidated subsidiaries for the periods
specified (A) were prepared in accordance with the International Financial Reporting Standards (the “IFRS”)
applied on a consistent basis throughout the periods indicated (except as may be indicated in the notes thereto), (B) are based upon
and consistent with information contained in the books and records of the Company and (C) fairly presents in all material respects
in accordance with IFRS the financial position, results of operations and cash flows of the Company and its then consolidated subsidiaries
as at the date thereof. The pro forma condensed combined financial statements and the pro forma combined financial statements and any
other pro forma financial statements or data that will be included or incorporated by reference in the Commission Documents will comply
with the requirements of Regulation S-X of the Securities Act, including, without limitation, Article 11 thereof, and the assumptions
used in the preparation of such pro forma financial statements and data are reasonable, the pro forma adjustments used therein are appropriate
to give effect to the circumstances referred to therein and the pro forma adjustments have been properly applied to the historical amounts
in the compilation of those statements and data. There will be no financial statements (historical or pro forma) that are required to
be included or incorporated by reference in the Commission Documents that will not be included or incorporated by reference as required.
The Company and the Subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance
sheet obligations or any “variable interest entities” as that term is used in Accounting Standards Codification Paragraph
810-10-25-20), which are not references and quantified in the consolidated financial statements of the Company.

 

(c)         Ziv
Haft, (“Ziv Haft”) whose report on the consolidated financial statements of the Company as of December 31, 2020 have
been provided to the Investor, are and, during the periods covered by their report, were an independent public accounting firm within
the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States). To the Company’s Knowledge,
Ziv Haft is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act with respect to the Company.

 

(d)         Except
as will be disclosed in the Commission Documents, there is and has been no failure on the part of the Company or any of the Company’s
directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer
of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as
applicable) will have made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports,
schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes of the
preceding sentence, “principal executive officer” and “principal financial officer” shall have the meanings given
to such terms in the Sarbanes-Oxley Act. Except as will be set out in the Commission Documents, the Company and the Subsidiaries will
maintain and keep accurate books and records reflecting their assets and maintain internal accounting controls in a manner designed to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles and including those policies and procedures that pertain to the maintenance
of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide
reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company’s consolidated financial
statements in accordance with generally accepted accounting principles, (iii) that receipts and expenditures of the Company are being
made only in accordance with management’s and the Company’s directors’ authorization, and (iv) provide reasonable
assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that
could have a material effect on its financial statements. Except as will be set out in the Commission Documents, the Company and the Subsidiaries
will maintain such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley
Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed by the Company in
the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified
in the Commission’s rules and forms, including, without limitation, controls and procedures designed to ensure that information
required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated
to the Company’s management, including its principal executive officer and principal financial officer, or persons performing similar
functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information relating to
the Company or the Subsidiaries is made known to them by others within those entities, particularly during the period in which such periodic
reports are being prepared.

 

    	 	13	 

     

    

 

Section 5.8         No
Material Adverse Effect. Since December 31, 2021, there has not been any Material Adverse
Effect or the occurrence of any development that the Company reasonably expects will result in a Material Adverse Effect.

 

Section 5.9         No
Material Defaults. Neither the Company nor any of its Subsidiaries has defaulted on any installment
on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate,
would have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is (i) in violation of its charter or by-laws
or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would
constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage,
deed of trust, loan agreement 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 are
subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any Governmental Authority,
except, in the case of each of clauses (ii) and (iii) above, for any such violation or default that would not, individually
or in the aggregate, have a Material Adverse Effect.

 

Section 5.10       No
Preferential Rights. Except set forth Schedule 5.10 of this Agreement or as will be set forth
in the Commission Documents or provided hereunder, (i) no Person, has the right, contractual or otherwise, to cause the Company to
issue or sell to such Person any Common Shares or shares of any other capital stock or other securities of the Company, (ii) no Person
has any preemptive rights, resale rights, rights of first refusal, rights of co-sale, or any other rights (whether pursuant to a “poison
pill” provision or otherwise) to purchase any Common Shares or shares of any other capital stock or other securities of the Company,
(iii) no Person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and
sale of the Common Shares offered hereunder, and (iv) no Person has the right, contractual or otherwise, to require the Company to
register under the Securities Act any Common Shares or shares of any other capital stock or other securities of the Company, or to include
any such shares or other securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing
or effectiveness of the Registration Statement or the sale of the Shares as contemplated thereby or otherwise.

 

    	 	14	 

     

    

 

Section 5.11       Material
Contract. Except as disclosed in the schedules to this Agreement or filed in the Commission
Documents, neither the Company nor any of its Subsidiaries is in material breach of or default in any respect under the terms of any Material
Contract and, to the Knowledge of the Company, as of the date hereof, no other party to any Material Contract is in material breach of
or default under the terms of any Company Material Contract. Each agreement between the Company and a third party is in full force and
effect and is a valid and binding obligation of the Company or the Subsidiary of the Company that is party thereto and, to the Knowledge
of the Company, is a valid and binding obligation of each other party thereto. The Company has not received any written notice of the
intention of any other party to a Material Contract to terminate for default, convenience or otherwise, or not renew, any Material Contract.

 

Section 5.12       Solvency.
The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to Title 11 of the United
States Code or any similar federal or state bankruptcy law or law for the relief of debtors, nor does the Company have any Knowledge that
its creditors intend to initiate involuntary bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for
relief under Title 11 of the United States Code or any other federal or state bankruptcy law or any law for the relief of debtors. The
Company is financially solvent and is generally able to pay its debts as they become due.

 

Section 5.13       Real
Property; Intellectual Property.

 

(a)         Except
as set forth on Schedule 5.13(a) of this Agreement and as will be set forth in the Commission Documents, the Company and its Subsidiaries
have good and marketable title in fee simple to all items of real property owned by them, good and valid title to all personal property
described in the Commission Documents as being owned by them that are material to their businesses, in each case free and clear of all
liens, encumbrances and claims, except those matters that (i) do not materially interfere with the use made and proposed to be made
of such property by the Company and any of its Subsidiaries or (ii) would not, individually or in the aggregate, have a Material
Adverse Effect. Any real or personal property described in the Commission Documents as being leased by the Company and any of its Subsidiaries
is held by them under valid, existing and enforceable leases, except those that (A) do not materially interfere with the use made
or proposed to be made of such property by the Company or any of its Subsidiaries or (B) would not be reasonably expected, individually
or in the aggregate, to have a Material Adverse Effect. Each of the properties of the Company and its Subsidiaries complies with all applicable
codes, laws and regulations (including, without limitation, building and zoning codes, laws and regulations and laws relating to access
to such properties), except if and to the extent disclosed in the Commission Documents or except for such failures to comply that would
not, individually or in the aggregate, reasonably be expected to interfere in any material respect with the use made and proposed to be
made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect. None of the Company or its subsidiaries
has received from any Governmental Authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company
and its Subsidiaries, and the Company knows of no such condemnation or zoning change which is threatened, except for such that would not
reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company
and its Subsidiaries or otherwise have a Material Adverse Effect, individually or in the aggregate.

 

    	 	15	 

     

    

 

(b)         Except
as set forth on Schedule 5.13(b) of this Agreement and will be disclosed in the Commission Documents, the Company and its Subsidiaries
own, possess, license or have other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade
and service mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology, Internet domain names,
know-how and other intellectual property (collectively, the “Intellectual Property”), necessary for the conduct
of their respective businesses as now conducted, except to the extent that the failure to own, possess, license or have other rights to
use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse Effect. Except as will be disclosed
in the Commission Documents and as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect, (i) to the Company’s Knowledge, there is no infringement by third parties of any Intellectual Property owned by the
Company or any of its Subsidiaries (“Company Intellectual Property”); (ii) there is no pending or, to the
Company’s Knowledge, threatened action, suit, proceeding or claim by third parties challenging the Company’s and its Subsidiaries’
rights in or to any registered Company Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis
for any such action, suit, proceeding or claim; (iii) there is no pending or, to the Company’s Knowledge, threatened action,
suit, proceeding or claim by third parties (A) challenging the validity or scope of any registered Company Intellectual Property
or (B) that the Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright, trade secret or other
proprietary rights of third parties; (iv) to the Company’s Knowledge, the Company and its Subsidiaries have complied with the
terms of each agreement pursuant to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements
are in full force and effect; and (v) the Company and its Subsidiaries have taken commercially reasonable efforts to maintain the
confidentiality of all material trade secrets and other material confidential information included in the Company Intellectual Property.

 

Section 5.14       Actions
Pending. Except as set forth on Schedule 5.14 of this Agreement and as will be disclosed
in the Commission Documents, there are no actions, suits or proceedings by or before any Governmental Authority pending, nor, to the Company’s
Knowledge, any audits or investigations by or before any Governmental Authority to which the Company or a Subsidiary is a party or to
which any property of the Company or any of its Subsidiaries is the subject that, individually or in the aggregate, would reasonably be
expected to have a Material Adverse Effect and, to the Company’s Knowledge, no such actions, suits, proceedings, audits or investigations
are threatened or contemplated by any Governmental Authority or threatened by others.

 

Section 5.15       Compliance
with Law. The Company and each of its Subsidiaries are in compliance with all applicable
laws, regulations and statutes (including all environmental laws and regulations) in the jurisdictions in which it carries on business,
except where failure to be so in compliance would not reasonably be expected to result in a Material Adverse Effect; the Company has not
received a notice of non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give rise to a notice of
non-compliance with any such laws, regulations and statutes, and is not aware of any pending change or material contemplated change to
any applicable law or regulation or governmental position.

 

    	 	16	 

     

    

 

Section 5.16       Certain
Fees. Except as disclosed to the Investors, neither the Company nor any of its Subsidiaries
has incurred any liability for any finder’s fees, brokerage commissions or similar payments in connection with the transactions
herein contemplated.

 

Section 5.17       Disclosure.
The Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or any of its agents, advisors
or counsel with any information that could reasonably be expected to constitute material, nonpublic information concerning the Company
or any of its Subsidiaries, other than the existence of the transactions contemplated by the Transaction Documents, during any VWAP Purchase
Period. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting resales of Shares
under the Registration Statement.

 

Section 5.18       Broker/Dealer
Relationships. Neither the Company nor any of the Subsidiaries (i) is required to register
as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly
through one or more intermediaries, controls or is a “person associated with a member” or “associated person of a member”
(within the meaning set forth in the FINRA Manual).

 

Section 5.19       Disclosure
Controls. Following the Closing, the Company and each of its Subsidiaries shall maintain
systems of internal accounting controls sufficient to provide reasonable assurance that transactions are executed in accordance with management’s
general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted
only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as disclosed
in the Commission Documents, from and after the Closing, the Company shall establish disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15 and 15d-15) for the Company and design such disclosure controls and procedures to ensure that material
information relating to the Company and each of its Subsidiaries is made known to the certifying officers by others within those entities,
particularly during the period in which the Company’s Annual Report on Form 20-F as the case may be, is being prepared.

 

Section 5.20       Permits.
Except as set forth on Schedule 5.20 to this Agreement and as will be disclosed in the Commission Documents, the Company and its Subsidiaries
have made all filings, applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses,
certificates, certifications, clearances, consents, grants, exemptions, marks, notifications, orders, permits and other authorizations
issued by, the appropriate federal, state or foreign Governmental Authority for the ownership or lease of their respective properties
or to conduct its businesses as described in the Commission Documents (collectively, “Permits”), except for
such Permits the failure of which to possess, obtain or make the same would not reasonably be expected to have a Material Adverse Effect;
the Company and its Subsidiaries are in compliance with the terms and conditions of all such Permits, except where the failure to be in
compliance would not have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity,
individually or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any
of its Subsidiaries has received any written notice relating to the limitation, revocation, cancellation, suspension, modification or
non-renewal of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would
reasonably be expected to have a Material Adverse Effect, or has any reason to believe that any such license, certificate, permit or authorization
will not be renewed in the ordinary course except where the failure to obtain any such renewal would not, individually or in the aggregate,
have a Material Adverse Effect. This Section 5.20 does not relate to environmental matters, such items being the subject of Section 5.21.

 

    	 	17	 

     

    

 

Section 5.21       Environmental
Compliance. Except as set forth on Schedule 5.21 of this Agreement and as will be set forth
in the Commission Documents, the Company and its Subsidiaries (i) are in compliance with any and all applicable federal, state, local
and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the environment or hazardous
or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (ii) have
received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct
their respective businesses as described in the Commission Documents; and (iii) have not received notice of any actual or potential
liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants,
except, in the case of any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive required
permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

Section 5.22       No
Improper Practices. Except as set forth on Schedule 5.22 of this Agreement and as will be
set forth in the Commission Documents (i) Neither the Company nor the Subsidiaries, nor any director, officer, or employee of the
Company or any Subsidiary nor, to the Company’s Knowledge, any agent, affiliate or other person acting on behalf of the Company
or any Subsidiary has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully
to disclose any contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate
for, any federal, state, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation of
any applicable law or of the character required to be disclosed in the Commission Documents and (ii) neither the Company nor the
Subsidiaries nor any director, officer or employee of the Company or any Subsidiary nor, to the Company’s Knowledge, any agent,
affiliate or other person acting on behalf of the Company or any Subsidiary has (A) violated or is in violation of any applicable
provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption law (collectively,
 “Anti-Corruption Laws”), (B) promised, offered, provided, attempted to provide or authorized the provision
of anything of value, directly or indirectly, to any person for the purpose of obtaining or retaining business, influencing any act or
decision of the recipient, or securing any improper advantage; or (C) made any payment of funds of the Company or any Subsidiary
or received or retained any funds in violation of any Anti-Corruption Laws.

 

    	 	18	 

     

    

 

Section 5.23       AML
Compliance. The operations of the Company and its Subsidiaries are and have been conducted
at all times in compliance with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions to which the Company or its Subsidiaries are subject,
the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced
by any Governmental Authority (collectively, the “Money Laundering Laws”); and no action, suit or proceeding
by or before any Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is
pending or, to the Knowledge of the Company, threatened.

 

Section 5.24       Off-Balance
Sheet Arrangements. There are no transactions, arrangements and other relationships between
and/or among the Company, and/or any of its affiliates and any unconsolidated entity, including, but not limited to, any structural finance,
special purpose or limited purpose entity (each, an “Off-Balance Sheet Transaction”) that could reasonably be
expected to affect materially the Company’s liquidity or the availability of or requirements for its capital resources, including
those Off-Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of
Financial Condition and Results of Operations (Release No. 33-8056; 34-45321; FR 61), required to be described in the Commission
Documents which have not be described as required.

 

Section 5.25       Transactions
With Affiliates. Except as disclosed on Schedule 5.25 of this Agreement and as will be set
out in the Commission Documents, no relationship, direct or indirect, exists between or among the Company or any of its Subsidiaries on
the one hand, and the directors, officers, trustees, managers, stockholders, partners, customers or suppliers of the Company or any of
the Subsidiaries on the other hand, which would be required by the Securities Act or the Exchange Act to be disclosed in the Commission
Documents, which is not so disclosed.

 

Section 5.26       Labor
Disputes. Except as set forth on Schedule 5.26 of this Agreement and as will be disclosed
in the Commission Documents, none of the Company nor any of its Subsidiaries is bound by or subject to any collective bargaining or similar
agreement with any labor union, and, to the Knowledge of the Company, none of the employees, representatives or agents of the Company
or any of its Subsidiaries is represented by any labor union. The Company and its Subsidiaries have complied with all employment laws
applicable to employees of the Company and its Subsidiaries, except where non-compliance with any such employment laws would not have
a Material Adverse Effect. Except as will be disclosed in the Commission Documents, no labor disturbance by or dispute with employees
of the Company or any of its Subsidiaries exists or, to the Knowledge of the Company, is threatened which would result in a Material Adverse
Effect.

 

Section 5.27       Use
of Proceeds. The proceeds from the sale of the Shares by the Company to Investor shall be
used by the Company in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective
amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.

 

Section 5.28       Investment
Company Act Status. The Company is not, and as a result of the consummation of the transactions
contemplated by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the
Prospectus included in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed
pursuant to the Registration Rights Agreement the Company will not be an “investment company” within the meaning of the Investment
Company Act of 1940, as amended.

 

    	 	19	 

     

    

 

Section 5.29       Margin
Rules. Neither the issuance, sale and delivery of the Shares nor the application of the proceeds
thereof by the Company will violate Regulation T, U or X of the Board of Governors of the Federal reserve System or any other regulation
of such Board of Governors.

 

Section 5.30       Taxes.
Except as disclosed on Schedule 5.30 of this Agreement, the Company and each of its Subsidiaries have, filed all U.S. federal, state,
local and non-U.S. tax returns which have been required to be filed and paid all taxes shown thereon through the date hereof, to the extent
that such taxes have become due and are not being contested in good faith, except where the failure to so file or pay would not have a
Material Adverse Effect. Except as will be otherwise disclosed in or contemplated by the Commission Documents, no tax deficiency has been
determined adversely to the Company or any of its Subsidiaries which has had, or would have, individually or in the aggregate, reasonably
be expected to be a Material Adverse Effect. The Company has no Knowledge of any federal, state or other governmental tax deficiency,
penalty or assessment which has been or might be asserted or threatened against it which would reasonably have a Material Adverse Effect,
except for deficiencies which are being contested in good faith and with respect to which adequate reserves have been established.

 

Section 5.31       ERISA.
Except as will be disclosed in the Commission Documents, to the Knowledge of the Company, each material employee benefit plan, within
the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
that is maintained, administered or contributed to by the Company or any of its affiliates for employees or former employees of the Company
and any of its Subsidiaries has been maintained in material compliance with its terms and the requirements of any applicable statutes,
orders, rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”);
no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would
result in a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or
administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302
of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the Code has been incurred, whether or not
waived, and the fair market value of the assets of such plan (excluding for these purposes accrued but unpaid contributions) exceeds the
present value of all benefits accrued under such plan determined using reasonable actuarial assumptions.

 

Section 5.32       Stock
Transfer Taxes. All stock transfer or other similar taxes (which does not include, for the
avoidance of doubt, income taxes) which are required to be paid in connection with the sale and transfer of the Shares to be sold hereunder
will be, or will have been, fully paid or provided for by the Company and all laws imposing such taxes will be or will have been fully
complied with.

 

Section 5.33       Insurance.
The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as the Company and
each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary for companies engaged
in similar businesses in similar industries.

 

    	 	20	 

     

    

 

Section 5.34       Exemption
from Registration. Subject to, and in reliance on, the representations, warranties and covenants
made herein by the Investor, the offer and sale of the Shares in accordance with the terms and conditions of this Agreement is exempt
from the registration requirements of the Securities Act pursuant to Section 4(a)(2) and/or Rule 506(b) of Regulation
D; provided, however, that at the request of and with the express agreements of the Investor (including, without limitation,
the representations, warranties and covenants of Investor set forth in Section 4.9 through 4.13), the Shares to be issued from and
after Commencement to or for the benefit of the Investor pursuant to this Agreement shall be issued to the Investor or its designee only
as DWAC Shares and will not bear legends noting restrictions as to resale of such securities under federal or state securities laws, nor
will any such securities be subject to stop transfer instructions.

 

Section 5.35       No
General Solicitation or Advertising. Neither the Company, nor any of its Subsidiaries or
Affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within
the meaning of Regulation D) in connection with the offer or sale of the Shares.

 

Section 5.36       No
Integrated Offering. None of the Company, its Subsidiaries or any of their Affiliates, nor
any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy
any security, under circumstances that would require registration of the issuance of any of the Shares under the Securities Act, whether
through integration with prior offerings or otherwise, or cause this offering of the Shares to require approval of stockholders of the
Company under any applicable stockholder approval provisions, including, without limitation, under the rules and regulations of the
Principal Market. None of the Company, its Subsidiaries, their Affiliates nor any Person acting on their behalf will take any action or
steps referred to in the preceding sentence that would require registration of the issuance of any of the Shares under the Securities
Act or cause the offering of any of the Shares to be integrated with other offerings.

 

Section 5.37       Dilutive
Effect. The Company is aware and acknowledges that issuance of the Shares could cause dilution
to existing stockholders and could significantly increase the outstanding number of Common Shares. The Company further acknowledges that
its obligation to issue the Shares to be purchased by the Investor pursuant to a VWAP Purchase is, upon the Company’s delivery to
the Investor of a VWAP Purchase Notice for a VWAP Purchase in accordance with this Agreement, absolute and unconditional following the
delivery of such VWAP Purchase Notice to the Investor, regardless of the dilutive effect that such issuance may have on the ownership
interests of other stockholders of the Company.

 

Section 5.38       Manipulation
of Price. Neither the Company nor any of its officers, directors or Affiliates has, and,
to the Knowledge of the Company, no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or
intended to cause or to result in the stabilization or manipulation of the price of any security of the Company, or which caused or resulted
in, or which would in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security
of the Company, in each case to facilitate the sale or resale of any of the Shares, (ii) sold, bid for, purchased, or paid any compensation
for soliciting purchases of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting another
to purchase any other securities of the Company. Neither the Company nor any of its officers, directors or Affiliates will during the
term of this Agreement, and, to the Knowledge of the Company, no Person acting on their behalf will during the term of this Agreement,
take any of the actions referred to in the immediately preceding sentence.

 

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Section 5.39       Listing
and Maintenance Requirements; DTC Eligibility. The Common Shares are expected to be registered
pursuant to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is
likely to have the effect of, terminating the registration of the Common Shares under the Exchange Act, nor has the Company received any
notification that the Commission is contemplating terminating such registration. The Company has not received notice from the Principal
Market to the effect that the Company is not in compliance with the listing or maintenance requirements of the Principal Market. The Common
Shares will be, after the Commencement Date, eligible for participation in the DTC book entry system and will be on deposit at DTC for
transfer electronically to third parties via DTC through its Deposit/Withdrawal at Custodian (“DWAC”) delivery
system. The Company has not received notice from DTC to the effect that a suspension of, or restriction on, accepting additional deposits
of the Common Shares, electronic trading or book-entry services by DTC with respect to the Common Shares is being imposed or is contemplated.

 

Section 5.40       Application
of Takeover Protections. The Company and its Board of Directors have taken all necessary
action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution
under a rights agreement) or other similar anti-takeover provision under the Company’s Articles that is or could become applicable
to the Investor as a result of the Investor and the Company fulfilling their respective obligations or exercising their respective rights
under the Transaction Documents (as applicable), including, without limitation, as a result of the Company’s issuance of the Shares
and the Investor’s ownership of the Shares.

 

Section 5.41       OFAC.
Neither the Company nor any of its Subsidiaries (collectively, the “Entity”), nor any director or officer of
the Entity nor, to the Company’s Knowledge, any employee, agent, affiliate or representative of the Company, is a Person that is,
or is owned or controlled by a Person that is (i) the subject of any sanctions administered or enforced by the (“OFAC”),
the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authorities, including,
without limitation, designation on OFAC’s Specially Designated Nationals and Blocked Persons List or OFAC’s Foreign Sanctions
Evaders List or other relevant sanctions authority (collectively, “Sanctions”), nor (ii) located, organized
or resident in a country or territory that is the subject of Sanctions that broadly prohibit dealings with that country or territory (including,
without limitation, the Crimea region of the Ukraine, Cuba, Iran, North Korea, Sudan and Syria (the “Sanctioned Countries”)).
The Entity will not, directly or indirectly, use the proceeds from the sale of Shares, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other Person (a) to fund or facilitate any activities or business of or
with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or is a
Sanctioned Country, or (b) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating
in the transactions contemplated by this agreement, whether as underwriter, advisor, investor or otherwise). For the past five years,
the Entity has not engaged in, and is now not engaged in, any dealings or transactions with any Person, or in any country or territory,
that at the time of the dealing or transaction is or was the subject of Sanctions or was a Sanctioned Country.

 

    	 	22	 

     

    

 

Section 5.42       Information
Technology; Compliance with Data Privacy Laws.

 

(a)         Except
as will be disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate,
have a Material Adverse Effect, the Company and its Subsidiaries’ information technology (i) assets and equipment, (ii) computers,
(iii) systems, (iv) networks, (v) hardware, (vi) software, (vii) websites, (viii) applications, and (ix) databases
(collectively, “IT Systems”) operate and perform in all material respects as required in connection with the
operation of the business of the Company as currently conducted, free and clear of all material bugs, errors, defects, Trojan horses,
time bombs, malware and other corruptants. Except as will be disclosed in the Commission Documents, and except as would not reasonably
be expected to, individually or in the aggregate, have a Material Adverse Effect, the Company and its Subsidiaries have implemented and
maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards to maintain and
protect their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and
data, including all “Personal Data” (defined below) and all other sensitive, confidential or regulated data controlled by
the Company and its Subsidiaries in connection with their businesses (“Confidential Data”). “Personal
Data” means, to the extent applicable to the Company’s business, any information which would qualify as (i) “personally
identifying information” under the Federal Trade Commission Act, as amended; (ii) “personal data” as defined by
the European Union General Data Protection Regulation (“GDPR”) (EU 2016/679); (iii) “personal information”
as defined by the California Consumer Privacy Act (“CCPA”) or (iv) any other term of similar import as
defined under any Privacy Law. “Privacy Laws” means applicable state and federal data privacy and security laws
and regulations, including, to the extent applicable, the CCPA and the GDPR. Except as will be disclosed in the Commission Documents,
and except as would not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect, to the Company’s
Knowledge, there have been no breaches, violations, outages or unauthorized uses of or accesses to any Personal Data controlled by the
Company and its Subsidiaries, except for those that have been remedied without material cost or liability or the duty to notify any other
person, nor any incidents under internal review or investigations relating to the same. Except as will be disclosed in the Commission
Documents, and except as would not reasonably be expected to, individually or in the aggregate, to have a Material Adverse Effect, the
Company and its Subsidiaries are presently in material compliance with all Privacy Laws, applicable judgments, orders or rules of
any court, arbitrator or governmental or regulatory authority, external policies and contractual obligations, in each case to the extent
relating to the privacy and security of IT Systems, Confidential Data, and Personal Data controlled by the Company and its Subsidiaries
in connection with their businesses and to the protection of such IT Systems, Confidential Data, and Personal Data from unauthorized use,
access, misappropriation or modification.

 

(b)         Except
as will be disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate,
to have a Material Adverse Effect, neither the Company nor any of its Subsidiaries: (i) has received written notice of any actual
or potential violation of any of the Privacy Laws, or has any Knowledge of any event or condition that would reasonably be expected to
result in any such notice; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation, or other
corrective action pursuant to any violation of any Privacy Law; or (iii) is a party to any order or decree that imposes any obligation
or liability under any Privacy Law.

 

    	 	23	 

     

    

 

Section 5.43       Acknowledgement
Regarding Investor’s Acquisition of Shares; Affiliate Relationships. The Company acknowledges
and agrees, to the fullest extent permitted by law, that the Investor is acting solely in the capacity of an arm’s-length purchaser
with respect to this Agreement and the transactions contemplated by the Transaction Documents, and Cantor Fitzgerald & Co. (“CF&CO”)
is acting as a representative of the Investor in connection with the transactions contemplated by the Transaction Documents, and of no
other party, including the Company. The Company further acknowledges that while the Investor will be deemed to be a statutory “underwriter”
with respect to the Transaction in accordance with interpretive positions of the Staff of the U.S. Securities and Exchange Commission
(the “SEC”), the Investor has represented it is a “trader” that is not required to register with
the SEC as a broker-dealer under Section 15(a) of the Securities Exchange Act of 1934. The Company further acknowledges that
the Investor and its representatives are not acting as a financial advisor or fiduciary of the Company (or in any similar capacity, except
as noted above) with respect to this Agreement and the transactions contemplated by the Transaction Documents, and any advice given by
the Investor or any of its representatives (including CF&CO) or agents in connection therewith is merely incidental to the Investor’s
acquisition of the Shares. The Company further represents to the Investor that the Company’s decision to enter into the Transaction
Documents to which it is a party has been based solely on the independent evaluation of the transactions contemplated thereby by the Company
and its representatives. The Company and Investor understand and acknowledge that employees of CF&CO may discuss market color, VWAP
Purchase Notice timing and parameter considerations and other related capital markets considerations with the Company in connection with
the Transaction Documents and the transactions contemplated thereby, in all cases on behalf of the Investor. The Company acknowledges
and agrees that the Investor has not made and does not make any representations or warranties with respect to the transactions contemplated
by the Transaction Documents other than those specifically set forth in Article IV. Affiliates of the Investor, including CF&CO,
engage in a wide range of activities for their own accounts and the accounts of customers, including corporate finance, mergers and acquisitions,
merchant banking, equity and fixed income sales, trading and research, derivatives, foreign exchange, futures, asset management, custody,
clearance and securities lending. In the course of its business, affiliates of Investor may, directly or indirectly, hold long or short
positions, trade and otherwise conduct such activities in or with respect to debt or equity securities and/or bank debt of, and/or derivative
products relating to, the Company. Any such position will be created, and maintained, independently of the position Investor takes in
the Company, and Investor. In addition, at any given time affiliates of Investor, including CF&CO, may have been and/or be engaged
by one or more entities that may be competitors with, or otherwise adverse to, the Company in matters unrelated to the transactions contemplated
by the Transaction Documents, and affiliates of Investor, including CF&CO may have or may in the future provide investment banking
or other services to the Company in matters unrelated to the transactions contemplated by the Transaction Documents. Activities of any
of Investor’s affiliates performed on behalf of the Company may give rise to actual or apparent conflicts of interest given Investor’s
potentially competing interests with those of the Company. The Company expressly acknowledges the benefits it receives from Investor’s
participation in the transactions contemplated by the Transaction Documents, on the one hand, and Investor’s affiliates’ activities,
if any, on behalf of the Company unrelated to the transactions contemplated by the Transaction Documents, on the other hand, and understands
the conflict or potential conflict of interest that may arise in this regard, and has consulted with such independent advisors as it deems
appropriate in order to understand and assess the risks associated with these potential conflicts of interest. Consistent with applicable
legal and regulatory requirements, applicable affiliates of the Investor have adopted policies and procedures to establish and maintain
the independence of their research departments and personnel from their investment banking groups and Investor. As a result, research
analysts employed by affiliates of the Investor may hold views, make statements or investment recommendations and/or publish research
reports with respect to the Company or the transactions contemplated by the Transaction Documents that differ from the views of Investor.

 

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Section 5.44       Emerging
Growth Company Status. From the time of the initial filing of the Company’s first registration
statement with the Commission through the date hereof, the Company has been and is an “emerging growth company,” as defined
in Section 2(a) of the Securities Act (an “Emerging Growth Company”).

 

Article VI

ADDITIONAL COVENANTS

 

The Company covenants with the Investor, and the
Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party, during the Investment
Period (and with respect to the Company, for the period following the termination of this Agreement specified in Section 8.3 pursuant
to and in accordance with Section 8.3):

 

Section 6.1         Securities
Compliance. The Company shall notify the Commission and the Principal Market, if and as applicable,
in accordance with their respective rules and regulations, of the transactions contemplated by the Transaction Documents, and shall
take all necessary action, undertake all proceedings and obtain all registrations, permits, consents and approvals for the legal and valid
issuance of the Shares to the Investor in accordance with the terms of the Transaction Documents, as applicable.

 

Section 6.2         Reservation
of Common Shares. During the Investment Period, the Company shall reserve and keep available
at all times, free of preemptive and other similar rights of stockholders, the requisite aggregate number of authorized but unissued Common
Shares to enable the Company to timely effect the issuance, sale and delivery of all Shares to be issued, sold and delivered in respect
of each VWAP Purchase effected under this Agreement, at least prior to the delivery by the Company to the Investor of the applicable VWAP
Purchase Notice in connection with such VWAP Purchase. Without limiting the generality of the foregoing, as of the Commencement Date,
the Company shall have reserved, out of its authorized and unissued Common Shares, a number of Common Shares equal to the Exchange Cap
solely for the purpose of effecting VWAP Purchases under this Agreement. The number of Common Shares so reserved for the purpose of effecting
VWAP Purchases under this Agreement may be increased from time to time by the Company from and after the Commencement Date, and such number
of reserved shares may be reduced from and after the Commencement Date only by the number of Shares actually issued, sold and delivered
to the Investor pursuant to any VWAP Purchase effected from and after the Commencement Date pursuant to this Agreement.

 

    	 	25	 

     

    

 

Section 6.3         Registration
and Listing. The Company shall use its commercially reasonable efforts to cause the Common
Shares to continue to be registered as a class of securities under Sections 12(b) of the Exchange Act, and to comply with its reporting
and filing obligations under the Exchange Act, and shall not take any action or file any document (whether or not permitted by the Securities
Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under
the Exchange Act or Securities Act, except as permitted herein. The Company shall use its commercially reasonable efforts to continue
the listing and trading of its Common Shares and the listing of the Shares purchased by the Investor hereunder on the Principal Market
and to comply with the Company’s reporting, filing and other obligations under the rules and regulations of the Principal Market.
The Company shall not take any action which could be reasonably expected to result in the delisting or suspension of the Common Shares
on the Principal Market. If the Company receives any final and non-appealable notice that the listing or quotation of the Common Shares
on the Principal Market shall be terminated on a date certain, the Company shall promptly (and in any case within 24 hours) notify the
Investor of such fact in writing and shall use its commercially reasonable efforts to cause the Common Shares to be listed or quoted on
another Principal Market.

 

Section 6.4         Compliance
with Laws.

 

(i)         During
the Investment Period, the Company shall comply with applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, applicable state securities or “Blue Sky” laws, and applicable listing rules of the Principal Market, in
connection with the transactions contemplated by this Agreement and the Registration Rights Agreement, except as would not, individually
or in the aggregate, prohibit or otherwise interfere with the ability of the Company to enter into and perform its obligations under this
Agreement in any material respect or for Investor to conduct resales of Shares under the Registration Statement in any material respect.

 

(ii)         The
Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under this Agreement
and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere with the ability
of the Investor to enter into and perform its obligations under this Agreement in any material respect. Without limiting the foregoing,
the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation M thereunder,
and all applicable state securities or “Blue Sky” laws, in connection with the transactions contemplated by this Agreement
and the Registration Rights Agreement.

 

Section 6.5         Keeping
of Records and Books of Account; Due Diligence.

 

(i)         The
Investor and the Company shall each maintain records showing the remaining Total Commitment, the remaining Aggregate Limit and the dates
and VWAP Purchase Share Amount for each VWAP Purchase.

 

(ii)         Subject
to the requirements of Section 6.12, from time to time from and after the Closing, the Company shall make available for inspection
and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably requested by the
Investor and/or its appointed counsel or advisors to conduct due diligence; provided, however, that (i) Investor shall
have no right to receive any information that the Company reasonably determines to be privileged, subject to confidentiality undertakings
or “material non-public information and (ii) after the Closing, the Investor’s satisfaction with the results of its continued
due diligence shall not be a condition precedent to the Company’s right to deliver to the Investor any VWAP Purchase Notice or the
settlement thereof except to the extent expressly contemplated by this Agreement.

 

    	 	26	 

     

    

 

Section 6.6         No
Frustration; No Variable Rate Transactions.

 

(i)         No
Frustration. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or transaction
in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company to perform
its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation of the Company to
deliver the Shares to the Investor in respect of a VWAP Purchase not later than the VWAP Purchase Share Delivery Date. For the avoidance
of doubt, nothing in this Section 6.6(i) shall in any way limit the Company’s right to terminate this Agreement in accordance
with Section 8.2 (subject in all cases to Section 8.3).

 

(ii)         No
Variable Rate Transactions. The Company shall not effect or enter into an agreement to effect any issuance by the Company or any
of its Subsidiaries of Common Shares or Common Shares Equivalents (or a combination of units thereof) involving a Variable Rate Transaction,
other than in connection with an Exempt Issuance, except for (i) the Warrant Assumption Agreement, (ii) the PIPE Warrant Agreements
and (iii) the Backstop Facility (in each case, as defined in the Business Combination Agreement). The Investor shall be entitled
to seek injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to
any right to collect damages, without the necessity of showing economic loss and without any bond or other security being required.

 

Section 6.7         Corporate
Existence. The Company shall take all steps necessary to preserve and continue the corporate
existence of the Company; provided, however, that, except as provided in Section 6.8, nothing in this Agreement shall
be deemed to prohibit the Company from engaging in any Fundamental Transaction with another Person. For the avoidance of doubt, nothing
in this Section 6.7 shall in any way limit the Company’s right to terminate this Agreement in accordance with Section 8.2
(subject in all cases to Section 8.3).

 

Section 6.8         Fundamental
Transaction. If a VWAP Purchase Notice has been delivered to the Investor and the transactions
contemplated therein have not yet been fully settled in accordance with the terms and conditions of this Agreement, the Company shall
not effect any Fundamental Transaction until the expiration of five (5) Trading Days following the date of full settlement thereof
and the issuance to the Investor of all of the Shares issuable pursuant to the VWAP Purchase to which such VWAP Purchase Notice relates.

 

    	 	27	 

     

    

 

Section 6.9         Selling
Restrictions.

 

(i)         Except
as expressly set forth below, the Investor covenants that from and after the Commencement Date through and including the Trading Day next
following the expiration or termination of this Agreement as provided in Article VIII (the “Restricted Period”),
none of the Investor, or any entity managed or controlled by the Investor (collectively, the “Restricted Persons”
and each of the foregoing is referred to herein as a “Restricted Person”) shall, directly or indirectly, (i) engage
in any Short Sales of the Common Shares or (ii) hedging transaction, which establishes a net short position with respect to the Common
Shares, with respect to each of clauses (i) and (ii) hereof, either for its own principal account or for the principal account
of any other Restricted Person. Notwithstanding the foregoing, it is expressly understood and agreed that nothing contained herein shall
(without implication that the contrary would otherwise be true) prohibit any Restricted Person during the Restricted Period from: (1) selling
 “long” (as defined under Rule 200 promulgated under Regulation SHO) the Shares; or (2) selling a number of Common
Shares equal to the number of Shares that such Restricted Person is unconditionally obligated to purchase under a pending VWAP Purchase
Notice but has not yet received from the Company or the Transfer Agent pursuant to this Agreement, so long as (X) such Restricted
Person (or the Broker-Dealer, as applicable) delivers the Shares purchased pursuant to such VWAP Purchase Notice to the purchaser thereof
or the applicable Broker- Dealer promptly upon such Restricted Person’s receipt of such Shares from the Company in accordance with
Section 3.2 of this Agreement and (Y) neither the Company or the Transfer Agent shall have failed for any reason to deliver
such Shares to the Investor or its Broker-Dealer so that such Shares are received by the Investor as DWAC Shares on the applicable VWAP
Purchase Share Delivery Date in accordance with Section 3.2 of this Agreement, including, without limitation, within the time period
specified for receipt of such Shares by the Investor or its Broker-Dealer as DWAC Shares from the Company or the Transfer Agent.

 

(ii)         In
addition to the foregoing, in connection with any sale of Shares (including any sale permitted by paragraph (i) above), the Investor
shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the requirements
of the Securities Act and the Exchange Act.

 

Section 6.10       Effective
Registration Statement. During the Investment Period, the Company shall use its commercially
reasonable efforts to maintain the continuous effectiveness of the Initial Registration Statement and each New Registration Statement
filed with the Commission under the Securities Act for the applicable Registration Period pursuant to and in accordance with the Registration
Rights Agreement.

 

Section 6.11       Blue
Sky. The Company shall take such action, if any, as is necessary by the Company in order
to obtain an exemption for or to qualify the Shares for sale by the Company to the Investor pursuant to the Transaction Documents, and
at the request of the Investor, the subsequent resale of Registrable Securities by the Investor, in each case, under applicable state
securities or “Blue Sky” laws and shall provide evidence of any such action so taken to the Investor from time to time following
the Commencement Date; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 6.11,
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any
such jurisdiction.

 

    	 	28	 

     

    

 

Section 6.12       Non-Public
Information. Neither the Company or any of its Subsidiaries, nor any of their respective
directors, officers, employees or agents shall disclose any material non-public information about the Company to the Investor during any
VWAP Purchase Period, unless a simultaneous public announcement thereof is made by the Company in the manner contemplated by Regulation
FD. In the event of a breach of the foregoing covenant by the Company or any of its Subsidiaries, or any of their respective directors,
officers, employees and agents (as determined in the reasonable good faith judgment of the Investor), (i) the Investor shall promptly
provide written notice of such breach to the Company and (ii) after such notice has been provided to the Company and, provided that
the Company shall have failed to demonstrate to the Investor in writing (including electronic mail) within 24 hours that such information
does not constitute material, non-public information or the Company shall have failed to publicly disclose such material, non-public information
within 24 hours following demand therefor by the Investor, in addition to any other remedy provided herein or in the other Transaction
Documents, if the Investor is holding any Shares at the time of the disclosure of material, non-public information, the Investor shall
have the right to make a public disclosure, with the Company’s prior written consent (such consent not to be unreasonably withheld
or delayed), in the form of a press release, public advertisement or otherwise, of such material, non-public information; provided that
prior to making any such public disclosure, the Investor shall consult with the Company and provide the Company opportunity to review
and comment on such proposed disclosure. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of
their respective directors, officers, employees, stockholders or agents, for any such disclosure.

 

Section 6.13       Broker/Dealer.
The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the Shares that it may purchase or otherwise acquire
from the Company pursuant to the Transaction Documents, as applicable, which (or whom) shall be a DTC participant (collectively, the “Broker-Dealer”).
The Investor shall, from time to time, provide the Company and the Transfer Agent with all information regarding the Broker-Dealer reasonably
requested by the Company. The Investor shall be solely responsible for all fees and commissions of the Broker-Dealer (if any), which shall
not exceed customary brokerage fees and commissions and shall be responsible for designating only a DTC participant eligible to receive
DWAC Shares.

 

Section 6.14       Disclosure
Schedules.

 

(i)         The
Company may, from time to time, update a Disclosure Schedules, excluding each schedule set forth in this Agreement (the “Disclosure
Schedules”) as may be required to satisfy the conditions set forth in Section 7.2(i) and Section 7.3(i) (to
the extent such condition set forth in Section 7.3(i) relates to the condition in Section 7.2(i) as of a specific
VWAP Purchase Condition Satisfaction Time). For purposes of this Section 6.14, any disclosure made in a schedule to the Compliance
Certificate shall be deemed to be an update of the Disclosure Schedules. Notwithstanding anything in this Agreement to the contrary, no
update to the Disclosure Schedules pursuant to this Section 6.14 shall cure any breach of a representation or warranty of the Company
contained in this Agreement and made prior to the update and shall not affect any of the Investor’s rights or remedies with respect
thereto.

 

(ii)         Notwithstanding
anything to the contrary contained in the Disclosure Schedules or in this Agreement, the information and disclosure contained in any Schedule
of the Disclosure Schedules shall be deemed to be disclosed and incorporated by reference in any other Schedule of the Disclosure Schedules
as though fully set forth in such Schedule for which applicability of such information and disclosure is readily apparent on its face.
The fact that any item of information is disclosed in the Disclosure Schedules shall not be construed to mean that such information is
required to be disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and the thresholds (whether
based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used as a basis for interpreting
the terms “material” or “Material Adverse Effect” or other similar terms in this Agreement.

 

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Section 6.15       Delivery
of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events. Following
the Commencement, within three (3) Trading Days immediately following each time the Company files (i) an annual report on Form 20-F
under the Exchange Act (including any Form 20-F/A containing amended financial information or a material amendment to the previously
filed Form 20-F); (ii) a current report on Form 6-K containing financial information (other than information “furnished”
under the Exchange Act); or (iii) the Initial Registration Statement, any New Registration Statement, or any supplement or post-effective
amendment thereto, and in any case, not more than once per calendar quarter, the Company shall (1) deliver to the Investor a Compliance
Certificate in the form attached hereto as Exhibit C, dated such date, (2) cause to be furnished to the Investor an opinion
from outside counsel to the Company substantially in the form mutually agreed to by the Company and the Investor prior to the date of
this Agreement (each such opinion, a “Bring- Down Opinion”) and (3) cause to be furnished to the Investor
a comfort letter from each and any independent registered public accounting firm of the Company or its predecessors (in the case of a
post-effective amendment, only if such amendment contains amended or new financial information), modified, as necessary, to relate to
such Registration Statement or post-effective amendment, or the Prospectus contained therein as then amended or supplemented by such Prospectus
Supplement, as applicable; provided that the Company shall not be required to cause a comfort letter to be furnished to the Investor from
Marcum with respect to the Company’s predecessors above other than in connection with any filing described in clause (iii) above.

 

Article VII

CONDITIONS TO CLOSING AND CONDITIONS TO THE SALE AND

PURCHASE OF THE SHARES

 

Section 7.1         Conditions
Precedent to Closing. The Commitment Effective Time is subject to the satisfaction of each
of the conditions set forth in this Section 7.1 on the Commitment Date.

 

(i)         Accuracy
of the Investor’s Representations and Warranties. The representations and warranties of the Investor contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall be true
and correct in all material respects as of the Commitment Date, except to the extent such representations and warranties are as of another
date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall be true and
correct as of the Commitment Date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct as of such other date.

 

(ii)         Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall be true
and correct in all material respects as of the Commitment Date, except to the extent such representations and warranties are as of another
date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall be true and
correct as of the Commitment Date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct as of such other date.

 

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(iii)         Closing
Deliverables. At the Commitment Effective Time, counterpart signature pages of this Agreement executed by each of the parties
hereto shall be delivered as provided in Section 2.2. Simultaneously with the execution and delivery of this Agreement and the Registration
Rights Agreement, the Investor’s counsel shall have (a) agreed to the forms of opinions to be delivered to the Investor on
the Commencement Date consistent with Exhibit E hereto and (b) received the closing certificate from the Company, dated
the Commitment Date, in the form of Exhibit B hereto.

 

Section 7.2         Conditions
Precedent to Commencement. The right of the Company to commence delivering VWAP Purchase
Notices under this Agreement, and the obligation of the Investor to accept VWAP Purchase Notices delivered to the Investor by the Company
under this Agreement, are subject to the initial satisfaction, at Commencement, of each of the conditions set forth in this Section 7.2.

 

(i)         Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall have
been true and correct in all material respects when made and shall be true and correct in all material respects as of the Commencement
Date with the same force and effect as if made on such date, except to the extent such representations and warranties are as of another
date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and
(b) that are qualified by “materiality” or “Material Adverse Effect” or similar qualifier shall have been
true and correct when made and shall be true and correct as of the Commencement Date with the same force and effect as if made on such
date, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties
shall be true and correct as of such other date.

 

(ii)         Performance
of the Company. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company
at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially
in the form attached hereto as Exhibit C (the “Compliance Certificate”).

 

(iii)         Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein required to be filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights
Agreement shall have been declared effective under the Securities Act by the Commission, and the Investor shall be permitted to utilize
the Prospectus therein to resell all of the Shares included in such Prospectus.

 

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(iv)         Registration
Rights Agreement. At the Closing, the Registration Rights Agreement shall have been executed.

 

(v)          Merger.
On or prior to the Commencement Date, the transactions contemplated by the Business Combination Agreement, including the Merger, shall
been consummated.

 

(vi)         No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the Commission
or any other federal or state governmental authority for any additional information relating to the Initial Registration Statement, the
Prospectus contained therein or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration Statement,
the Prospectus contained therein or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other federal or
state governmental authority of any stop order suspending the effectiveness of the Initial Registration Statement or prohibiting or suspending
the use of the Prospectus contained therein or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from
qualification of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for
such purpose; (c) the objection of FINRA to the terms of the transactions contemplated by the Transaction Documents or (d) the
occurrence of any event or the existence of any condition or state of facts, which makes any statement of a material fact made in the
Initial Registration Statement, the Prospectus contained therein or any Prospectus Supplement thereto untrue or which requires the making
of any additions to or changes to the statements then made in the Initial Registration Statement, the Prospectus contained therein or
any Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or necessary in
order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in the light of the circumstances
under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement or a supplement to the
Prospectus contained therein or any Prospectus Supplement thereto to comply with the Securities Act or any other law. The Company shall
have no knowledge of any event that could reasonably be expected to have the effect of causing the suspension of the effectiveness of
the Initial Registration Statement or the prohibition or suspension of the use of the Prospectus contained therein or any Prospectus Supplement
thereto in connection with the resale of the Registrable Shares by the Investor.

 

(vii)        Other
Commission Filings. The Current Report shall have been filed with the Commission as required pursuant to Section 2.3. The
final Prospectus included in the Initial Registration Statement shall have been filed with the Commission prior to Commencement in accordance
with Section 2.3 and the Registration Rights Agreement. All reports, schedules, registrations, forms, statements, information and
other documents required to have been filed by the Company with the Commission pursuant to the reporting requirements of the Exchange
Act, including all material required to have been filed pursuant to Section 13(a) or 15(d) of the Exchange Act, prior to
Commencement shall have been filed with the Commission.

 

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(viii)      No
Suspension of Trading in or Notice of Delisting of Common Shares. Trading in the Common Shares shall not have been suspended by
the Commission, the Principal Market or the FINRA (except for any suspension of trading of limited duration agreed to by the Company,
which suspension shall be terminated prior to the Commencement Date), the Company shall not have received any final and non-appealable
notice that the listing or quotation of the Common Shares on the Principal Market shall be terminated on a date certain (unless, prior
to such date certain, the Common Shares are listed or quoted on any other Principal Market), nor shall there have been imposed any suspension
of, or restriction on, accepting additional deposits of the Common Shares, electronic trading or book-entry services by DTC with respect
to the Common Shares that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension of, or
restriction on, accepting additional deposits of the Common Shares, electronic trading or book-entry services by DTC with respect to the
Common Shares are being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified the Company
in writing that DTC has determined not to impose any such suspension or restriction).

 

(ix)         Compliance
with Laws. The Company shall have complied with all applicable federal, state and local governmental laws, rules, regulations
and ordinances in connection with the execution, delivery and performance of this Agreement and the other Transaction Documents to which
it is a party and the consummation of the transactions contemplated hereby and thereby, including, without limitation, the Company shall
have obtained all permits and qualifications required by any applicable state securities or “Blue Sky” laws for the offer
and sale of the Shares by the Company to the Investor and the subsequent resale of the Registrable Securities by the Investor (or shall
have the availability of exemptions therefrom).

 

(x)          No
Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered, promulgated, threatened
or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of or which would materially
modify or delay any of the transactions contemplated by the Transaction Documents.

 

(xi)         No
Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any court or governmental authority shall have
been commenced, and no inquiry or investigation by any governmental authority shall have been commenced, against the Company or any Subsidiary,
or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions
contemplated by the Transaction Documents, or seeking material damages in connection with such transactions.

 

(xii)        No
Material Adverse Effect. Since the date of the last Commission Document, no condition, occurrence, state of facts or event constituting
a Material Adverse Effect shall have occurred and be continuing.

 

(xiii)       Listing
of Shares. All of the Shares that have been and may be issued pursuant to this Agreement shall have been approved for listing
or quotation on the Principal Market as of the Commencement Date, subject only to notice of issuance.

 

(xiv)      No
Bankruptcy Proceedings. No Person shall have commenced a proceeding against the Company pursuant to or within the meaning of any
Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced a voluntary case,
(b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment of a Custodian
of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its creditors.
A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief against
the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property, or
(III) orders the liquidation of the Company or any of its Subsidiaries.

 

    	 	33	 

     

    

 

(xv)            Delivery
of Commencement Irrevocable Transfer Agent Instructions and Notice of Effectiveness. The Commencement Irrevocable Transfer Agent
Instructions pursuant to Section 10.4 shall have been executed by the Company and delivered to acknowledged in writing by the Company’s
transfer agent, and the Notice of Effectiveness relating to the Initial Registration Statement shall have been executed by the Company’s
outside counsel and delivered to the Transfer Agent, in each case directing the Transfer Agent to issue to the Investor or its designated
Broker-Dealer all of the Shares included in the Initial Registration Statement as DWAC Shares in accordance with this Agreement and the
Registration Rights Agreement.

 

(xvi)           Reservation
of Shares. As of the Commencement Date, the Company shall have reserved out of its authorized and unissued Common Shares a number
of Common Shares equal to the Exchange Cap solely for the purpose of effecting VWAP Purchases under this Agreement.

 

(xvii)          Opinions
and Negative Assurance of Company Counsel. On the Commencement Date, the Investor shall have received the opinions and negative
assurances from outside counsel to the Company, dated the Commencement Date, in the forms mutually agreed to by the Company and the Investor
prior to the date of this Agreement attached hereto on Exhibit E.

 

(xviii)         Payment
of Expenses. The Company shall be incompliance with its obligations pursuant to Section 10.1(i) of this Agreement and
invoices for reimbursement of the fees and disbursements of legal counsel to the Investor shall not be more than 30 days in arrears.

 

(xix)            Comfort
Letter of Accountant. On the Commencement Date, the Investor shall have received from Ziv Haft or a successor independent registered
public accounting firm for the Company, a letter dated the date of the filing of the Registration Statement addressed to the Investor,
in form and substance reasonably satisfactory to the Investor with respect to the audited and unaudited financial statements and certain
financial information contained in the Registration Statement and the Prospectus, and any Prospectus Supplement, except that the specific
date referred to therein for the carrying out of procedures shall be no more than three Business Days prior to the Commencement Date.

 

(xx)            FINRA.
On or prior to the Commencement Date, FINRA shall have confirmed in writing that it has no objection with respect to the fairness and
reasonableness of the terms and arrangements of the transactions contemplated by the Transaction Documents.

 

(xxi)           Qualified
Independent Underwriter. If the Investor reasonably determines that a Qualified Independent Underwriter must participate in the
transactions contemplated by the Transaction Documents in order for such transactions to be in full compliance with FINRA’s rules,
the Company and the Investor shall have executed such documentation as may reasonably be required to engage a Qualified Independent Underwriter
to participate in such transactions at the sole expense of the Investor.

 

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Section 7.3     Conditions
Precedent to VWAP Purchases after Commencement Date. The right of the Company to deliver
VWAP Purchase Notices under this Agreement after the Commencement Date, and the obligation of the Investor to accept VWAP Purchase Notices
under this Agreement after the Commencement Date, are subject to the satisfaction of each of the conditions set forth in this Section 7.3
at the applicable VWAP Purchase Commencement Time for the VWAP Purchase to be effected pursuant to the applicable VWAP Purchase Notice
timely delivered by the Company to the Investor in accordance with this Agreement (each such time, a “VWAP Purchase Condition
Satisfaction Time”).

 

(i)              Satisfaction
of Certain Prior Conditions. Each of the conditions set forth in subsections (i), (ii), (ix) through (xiv), (xx) and
(xxi) and set forth in Section 7.2 shall be satisfied at the applicable VWAP Purchase Condition Satisfaction Time after the
Commencement Date (with the terms “Commencement” and “Commencement Date” in the conditions set forth in subsections
(i) and (ii) of Section 7.2 replaced with “applicable VWAP Purchase Condition Satisfaction Time”);
provided, however, that the Company shall not be required to deliver the Compliance Certificate after the Commencement Date,
except as provided in Section 6.15 and Section 7.3(x).

 

(ii)             Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights Agreement, and
any post-effective amendment thereto required to be filed by the Company with the Commission after the Commencement Date and prior to
the applicable VWAP Purchase Date pursuant to the Registration Rights Agreement, in each case shall have been declared effective under
the Securities Act by the Commission and shall remain effective for the applicable Registration Period (as defined in the Registration
Rights Agreement), and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell
all of the Shares included in the Initial Registration Statement, and any post-effective amendment thereto, that have been issued and
sold to the Investor hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to such applicable
VWAP Purchase Date and (c) all of the Shares included in the Initial Registration Statement, and any post-effective amendment thereto,
that are issuable pursuant to the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase
to be effected hereunder on such applicable VWAP Purchase Date.

 

(iii)            Any
Required New Registration Statement Effective. Any New Registration Statement covering the resale by the Investor of the Registrable
Securities included therein, and any post-effective amendment thereto, required to be filed by the Company with the Commission pursuant
to the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, in each case shall have
been declared effective under the Securities Act by the Commission and shall remain effective for the applicable Registration Period,
and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell all of the Shares
included in such New Registration Statement, and any post-effective amendment thereto, that have been issued and sold to the Investor
hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to such applicable VWAP Purchase Date and
(c) all of the Shares included in such new Registration Statement, and any post-effective amendment thereto, that are issuable pursuant
to the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase to be effected hereunder
on such applicable VWAP Purchase Date.

 

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(iv)            Delivery
of Subsequent Irrevocable Transfer Agent Instructions and Notice of Effectiveness. With respect to any post-effective amendment
to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration Statement,
in each case declared effective by the Commission after the Commencement Date, the Company shall have delivered or caused to be delivered
to the Transfer Agent (a) irrevocable instructions in the form substantially similar to the Commencement Irrevocable Transfer Agent
Instructions executed by the Company and acknowledged in writing by the Transfer Agent and (b) the Notice of Effectiveness, in each
case modified as necessary to refer to such Registration Statement or post-effective amendment and the Registrable Securities included
therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with the terms of this Agreement and the Registration
Rights Agreement.

 

(v)             No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the Commission
or any other federal or state governmental authority for any additional information relating to the Initial Registration Statement or
any post-effective amendment thereto, any New Registration Statement or any post- effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration Statement
or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other federal or state governmental
authority of any stop order suspending the effectiveness of the Initial Registration Statement or any post-effective amendment thereto,
any New Registration Statement or any post-effective amendment thereto, or prohibiting or suspending the use of the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from qualification of
the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose;
(c) the objection of FINRA to the terms of the transactions contemplated by the Transaction Documents or (d) the occurrence
of any event or the existence of any condition or state of facts, which makes any statement of a material fact made in the Initial Registration
Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto untrue or which requires the making of any additions to or changes
to the statements then made in the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement
or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto in order
to state a material fact required by the Securities Act to be stated therein or necessary in order to make the statements then made therein
(in the case of the Prospectus or any Prospectus Supplement, in the light of the circumstances under which they were made) not misleading,
or which requires an amendment to the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement
or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto to comply
with the Securities Act or any other law (other than the transactions contemplated by the applicable VWAP Purchase Notice delivered by
the Company to the Investor with respect to a VWAP Purchase to be effected hereunder on such applicable VWAP Purchase Date and the settlement
thereof). The Company shall have no Knowledge of any event that could reasonably be expected to have the effect of causing the suspension
of the effectiveness of the Initial Registration Statement or any post- effective amendment thereto, any New Registration Statement or
any post-effective amendment thereto, or the prohibition or suspension of the use of the Prospectus contained in any of the foregoing
or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by the Investor.

 

    36

     

    

 

(vi)            Other
Commission Filings. The final Prospectus included in any post- effective amendment to the Initial Registration Statement, and
any Prospectus Supplement thereto, required to be filed by the Company with the Commission pursuant to Section 2.3 and the Registration
Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with the Commission
in accordance with Section 2.3 and the Registration Rights Agreement. The final Prospectus included in any New Registration Statement
and in any post-effective amendment thereto, and any Prospectus Supplement thereto, required to be filed by the Company with the Commission
pursuant to Section 2.3 and the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase
Date, shall have been filed with the Commission in accordance with Section 2.3 and the Registration Rights Agreement. All reports,
schedules, registrations, forms, statements, information and other documents required to have been filed by the Company with the Commission
pursuant to the reporting requirements of the Exchange Act, including all material required to have been filed pursuant to Section 13(a) or
15(d) of the Exchange Act, after the Commencement Date and prior to the applicable VWAP Purchase Date, shall have been filed with
the Commission.

 

(vii)           No
Suspension of Trading in or Notice of Delisting of Common Shares. Trading in the Common Shares shall not have been suspended by
the Commission, the Principal Market or the FINRA (except for any suspension of trading of limited duration agreed to by the Company,
which suspension shall be terminated prior to the applicable VWAP Purchase Date), the Company shall not have received any final and non-appealable
notice that the listing or quotation of the Common Shares on the Principal Market shall be terminated on a date certain (unless, prior
to such date certain, the Common Shares are listed or quoted on any other Principal Market), nor shall there have been imposed any suspension
of, or restriction on, accepting additional deposits of the Common Shares, electronic trading or book-entry services by DTC with respect
to the Common Shares that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension of, or
restriction on, accepting additional deposits of the Common Shares, electronic trading or book-entry services by DTC with respect to the
Common Shares are being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified the Company
in writing that DTC has determined not to impose any such suspension or restriction).

 

(viii)           Certain
Limitations. The issuance and sale of the Shares issuable pursuant to the applicable VWAP Purchase Notice shall not (a) exceed
the applicable VWAP Purchase Maximum Amount, (b) cause the Aggregate Limit or the Beneficial Ownership Limitation to be exceeded,
or (c) cause the Exchange Cap (to the extent applicable under Section 3.3) to be exceeded, unless in the case of this clause
(c), unless the Company’s stockholders have theretofore approved the issuance of Common Shares under this Agreement in excess of
the Exchange Cap in accordance with the applicable rules of the Principal Market.

 

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(ix)             Shares
Authorized and Delivered. All of the Shares issuable pursuant to the applicable VWAP Purchase Notice shall have been duly authorized
by all necessary corporate action of the Company. All Shares relating to all prior VWAP Purchase Notices required to have been received
by the Investor as DWAC Shares under this Agreement prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable
VWAP Purchase shall have been delivered to the Investor as DWAC Shares in accordance with this Agreement.

 

(x)              Bring-Down
Opinions and Negative Assurance of Company Counsel, Bring-Down Comfort Letters and Compliance Certificates. The Investor shall
have received (a) all Bring-Down Opinions from outside counsel to the Company for which the Company was obligated to instruct its
outside counsel to deliver to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase,
(b) all Bring-Down comfort letters provided by the Company’s auditors and delivered to the Investor prior to the applicable
VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase and (c) all Compliance Certificates from the Company that
the Company was obligated to deliver to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable
VWAP Purchase, in each case in accordance with Section 6.15.

 

(xi)             Material
Non-Public Information. Neither the Company, nor, in the Investor’s sole discretion, the Investor shall be in possession
of any material non-public information concerning the Company.

 

(xii)            Payment
of Expenses. The Company shall be incompliance with its obligations pursuant to Section 10.1(i) of this Agreement and
invoices for reimbursement of the fees and disbursements of legal counsel to the Investor shall not be more than 30 days in arrears.

 

Article VIII

TERMINATION

 

Section 8.1     Automatic
Termination. Unless earlier terminated as provided hereunder, this Agreement shall terminate
automatically on the earliest to occur of (i) the first day of the month next following the 36-month anniversary of the Effective
Date of the Initial Registration Statement (it being hereby acknowledged and agreed that such term may be extended by the parties hereto),
(ii) the date on which the Investor shall have purchased the Total Commitment worth of Shares pursuant to this Agreement, (iii) the
date after the Commencement Date on which the Common Shares shall have failed to be listed or quoted on the Principal Market or any other
Principal Market, (iv) the date on which, pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary
case or any Person commences a proceeding against the Company, a Custodian is appointed for the Company or for all or substantially all
of its property, or the Company makes a general assignment for the benefit of its creditors, and (v) the termination of the Business
Combination Agreement prior to the closing of the Merger.

 

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Section 8.2     Other
Termination. Subject to Section 8.3, the Company may terminate this Agreement after
the Commencement Date effective upon three (3) Trading Days’ prior written notice to the Investor in accordance with Section 10.4;
provided, however, that prior to issuing any press release, or making any public statement or announcement, with respect
to such termination, the Company shall consult with the Investor and its counsel on the form and substance of such press release or other
disclosure. Subject to Section 8.3, this Agreement may be terminated at any time by the mutual written consent of the parties, effective
as of the date of such mutual written consent unless otherwise provided in such written consent. Subject to Section 8.3, the Investor
shall have the right to terminate this Agreement effective upon ten (10)  Trading Days’ prior written notice to the Company,
which notice shall be made in accordance with Section 10.4, if: (a) a Fundamental Transaction shall have occurred (other than
the Merger and the transactions contemplated by the Business Combination Agreement); (b) the Company is in breach or default in any
material respect of any of its covenants and agreements the Registration Rights Agreement, and, if such breach or default is capable of
being cured, such breach or default is not cured within fifteen (15) Trading Days after notice of such breach or default is delivered
to the Company pursuant to Section 10.4 of this Agreement; (c) while a Registration Statement, or any post-effective amendment
thereto, is required to be maintained effective pursuant to the terms of the Registration Rights Agreement and the Investor holds any
Registrable Securities, the effectiveness of such Registration Statement, or any post- effective amendment thereto, lapses for any reason
(including, without limitation, the issuance of a stop order by the Commission) or such Registration Statement or any post-effective amendment
thereto, the Prospectus contained therein or any Prospectus Supplement thereto otherwise becomes unavailable to the Investor for the resale
of all of the Registrable Securities included therein in accordance with the terms of the Registration Rights Agreement, and such lapse
or unavailability continues for a period of forty-five (45) consecutive Trading Days or for more than an aggregate of ninety (90) Trading
Days in any three hundred and sixty-five (365)-day period, other than due to acts of the Investor; (d) trading in the Common Shares
on the Principal Market (or if the Common Shares are then listed on another Principal Market, trading in the Common Shares on such Principal
Market) shall have been suspended and such suspension continues for a period of five (5) consecutive Trading Days; or (e) the
Company is in material breach or default of any of its covenants and agreements contained in this Agreement, and, if such breach or default
is capable of being cured, such breach or default is not cured within fifteen (15) Trading Days after notice of such breach or default
is delivered to the Company pursuant to Section 10.4 of this Agreement. In addition, the Investor may exercise the right to terminate
this Agreement immediately, if on the seventh Trading Day following the closing of the Business Combination, the aggregate market value
of the outstanding voting and non-voting common equity (as defined in the Securities Act Rule 405) of the Company, is less than $100
million (calculated by multiplying (x) the price at which the common equity of the Company closed on the Principal Market on such
date (y) the number of outstanding shares on such date) as of that date. Unless notification thereof is required elsewhere in this
Agreement (in which case such notification shall be provided in accordance with such other provision), the Company shall promptly (but
in no event later than twenty-four (24) hours) notify the Investor (and, if required under applicable law, including, without limitation,
Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Principal Market (or if the Common
Shares are then listed on another Principal Market, under the applicable rules and regulations of such Principal Market), the Company
shall publicly disclose such information in accordance with Regulation FD and the applicable rules and regulations of the Principal
Market (or such other Principal Market, as applicable)) upon becoming aware of any of the events set forth in the immediately preceding
sentence.

 

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Section 8.3     Effect
of Termination. In the event of termination by the Company or the Investor (other than by
mutual termination) pursuant to Section 8.2, written notice thereof shall forthwith be given to the other party as provided in Section 10.4
and the transactions contemplated by this Agreement shall be terminated without further action by either party. If this Agreement is terminated
as provided in Section 8.1 or Section 8.2, this Agreement shall become void and of no further force and effect, except that
(i) the provisions of Article V (Representations, Warranties and Covenants of the Company), Article IX (Indemnification),
Article X (Miscellaneous) and this Article VIII (Termination) shall remain in full force and effect indefinitely notwithstanding
such termination, and, (ii) so long as the Investor owns any Shares, the covenants and agreements of the Company contained in Article VI
(Additional Covenants) shall remain in full force and notwithstanding such termination for a period of thirty (30) days following such
termination. Notwithstanding anything in this Agreement to the contrary, no termination of this Agreement by any party shall (i) become
effective prior to the second (2nd) Trading Day immediately following the date on which the purchase of Shares by the Investor pursuant
to any pending VWAP Purchase has been fully settled, including, without limitation, the delivery by the Company to the Investor of all
Shares purchased by the Investor pursuant to such pending VWAP Purchase as DWAC Shares on the applicable VWAP Purchase Share Delivery
Date therefor, and the delivery by the Investor to the Company of the aggregate VWAP Purchase Price payable by the Investor for such Shares,
in each case in accordance with the settlement procedures set forth in Section 3.2 of this Agreement (it being hereby acknowledged
and agreed that no termination of this Agreement shall limit, alter, modify, change or otherwise affect any of the Company’s or
the Investor’s rights or obligations under the Transaction Documents with respect to any pending VWAP Purchase that has not fully
settled, and that the parties shall fully perform their respective obligations with respect to any such pending VWAP Purchase under the
Transaction Documents) or (ii) limit, alter, modify, change or otherwise affect the Company’s or the Investor’s rights
or obligations under the Registration Rights Agreement, all of which shall survive any such termination. Nothing in this Section 8.3
shall be deemed to release the Company or the Investor from any liability for any breach or default under this Agreement, the Registration
Rights Agreement or any of the other Transaction Documents to which it is a party, or to impair the rights of the Company and the Investor
to compel specific performance by the other party of its obligations under this Agreement, the Registration Rights Agreement or any of
the other Transaction Documents to which it is a party.

 

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Article IX

INDEMNIFICATION

 

Section 9.1     Indemnification
of Investor. In consideration of the Investor’s execution and delivery of this Agreement
and acquiring the Shares hereunder and in addition to all of the Company’s other obligations under the Transaction Documents to
which it is a party, subject to the provisions of this Section 9.1, the Company shall indemnify and hold harmless the Investor, its
affiliates, each of their respective directors, officers, shareholders, members, partners, employees, representatives and agents (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other
title), each Person, if any, who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20(a) of
the Exchange Act), and the respective directors, officers, shareholders, members, partners, employees, representatives and agents (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other
title) of such controlling Persons (each, an “Investor Party”), each of which shall be an express third-party
beneficiary of this Article IX, from and against all losses, liabilities, obligations, claims, contingencies, damages, costs and
expenses (including all judgments, amounts paid in settlement, court costs, reasonable attorneys’ fees and costs of defense and
investigation) (collectively, “Damages”) that any Investor Party may suffer or incur (a) as a result of,
relating to or arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in any Commission
Document (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or
necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material
fact included in any Commission Document, or the omission or alleged omission therefrom of a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however,
that this indemnity in (a) shall not apply to any loss, liability, claim, damage or expense to the extent arising out of an untrue
statement or omission, or alleged untrue statement or omission in a Commission Document, made in reliance upon and in conformity with
information furnished in writing to the Company by the Investor for the Investor expressly for use in connection with the preparation
of the Registration Statement, Prospectus or Prospectus Supplement or any such amendment thereof or supplement thereto (it being hereby
acknowledged and agreed that the written information set forth on Exhibit C to the Registration Rights Agreement is the only
written information furnished to the Company by or on behalf of the Investor expressly for use in any Registration Statement, Prospectus
or Prospectus Supplement), (b) to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or
proceeding by any Governmental Authority, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission; provided that any such settlement is effected with the written consent
of the Company, which consent shall not unreasonably be delayed, conditioned or withheld, (c) in investigating, preparing or defending
against any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or any claim whatsoever
based upon any such untrue statement or omission, or any such alleged untrue statement or omission (whether or not a party), to the extent
that any such expense is not paid under (a) or (b) above, (d) as a result of, relating to or arising out of any breach
by the Company of its representations, warranties, covenants or agreements under this Agreement, or (e) as a result of, relating
to or arising out of any other action, suit, claim or proceeding against an Investor Party arising out of or otherwise in connection with
the Transaction Documents (except solely to the extent in the case of this subsection (e), to the extent any Damage is determined by a
court of competent jurisdiction, not subject to further appeal, to have resulted primarily and directly from the bad faith or gross negligence
or willful misconduct of such Investor Party).

 

The Company shall reimburse any Investor Party
promptly upon demand (with accompanying presentation of documentary evidence) for all legal and other costs and expenses reasonably incurred
by such Investor Party in connection with (i) any action, suit, claim or proceeding, whether at law or in equity, to enforce compliance
by the Company with any provision of the Transaction Documents or (ii) any other any action, suit, claim or proceeding, whether at
law or in equity, with respect to which it is entitled to indemnification under this Section 9.1; provided that the Investor
shall promptly reimburse the Company for all such legal and other costs and expenses to the extent a court of competent jurisdiction determines
in a final judgment that any Investor Party was not entitled to such reimbursement.

 

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To the extent that the foregoing undertakings
by the Company set forth in this Section 9.1 may be unenforceable for any reason, the Company shall make the maximum contribution
to the payment and satisfaction of each of the Damages which is permissible under applicable law, provided that in no event shall the
Investor be obligated to contribute any amount in excess of the fees it actually receives pursuant to this Agreement. The Company acknowledges
that the Investor Parties (as third party beneficiaries with rights of enforcement only with respect to the waivers or obligations set
forth herein that are specific to the Investor Parties) will rely on the acknowledgments, understandings, agreements, representations
and warranties contained in this Article IX.

 

Section 9.2     Indemnification
of the Company. In consideration of the Company’s execution and delivery of this Agreement
and sale of the Shares hereunder and in addition to all of the Investor’s other obligations under the Transaction Documents to which
it is a party, subject to the provisions of this Section 9.2, the Investor shall indemnify and hold harmless the Company, its affiliates,
each of their respective directors, officers, shareholders, members, partners, employees, representatives and agents (and any other Persons
with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) and each
Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act) and each of the directors, officers,
shareholders, members, partners, employees, agents, and representatives (and any other Persons with a functionally equivalent role of
a Person holding such titles notwithstanding the lack of such title or any other title) of such controlling person (each, a “Company
Party”), from and against Damages that any Company Party may suffer or incur in connection with the claims described in
clauses (a), (b) or (c) of Section 9.1; provided that, such indemnity shall only be required if the Damages occurred as
a result of an untrue statement or omission, or alleged untrue statement or omission in a Commission Document, made in reliance upon and
in conformity with information furnished in writing to the Company by the Investor for the Company’s express use in connection with
the preparation of the Registration Statement, Prospectus or Prospectus Supplement or any such amendment thereof or supplement thereto.

 

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Section 9.3     Indemnification
Procedures.

 

(a)     Promptly
after either the Investor Party or the Company Party (either the “Indemnified Party”) receives notice of a claim
or the commencement of an action for which the other party intends to seek indemnification under Section 9.1 (such other party, the
 “Indemnifying Party”), the Indemnified Party will notify the Indemnifying Party in writing of the claim or commencement
of the action, suit or proceeding; provided, however, that failure to notify the Indemnifying Party will not relieve the Indemnifying
Party from liability under Section 9.1 or Section 9.2, unless and solely to the extent such party has been materially prejudiced
by the failure to give such notice as evidenced by the forfeiture of by the Indemnifying Party of substantive rights or defenses. The
Indemnifying Party will be entitled to participate in the defense of any claim, action, suit or proceeding as to which indemnification
is being sought, and if the Indemnifying Party acknowledges in writing the obligation to indemnify the Indemnified Party against whom
the claim or action is brought, the Indemnifying Party may (but will not be required to) assume the defense against the claim, action,
suit or proceeding with counsel satisfactory to it. After the Indemnifying Party notifies the Indemnified Party that the Indemnifying
Party wishes to assume the defense of a claim, action, suit or proceeding, the Indemnifying Party will not be liable for any further legal
or other expenses incurred by the Indemnified Party in connection with the defense against the claim, action, suit or proceeding unless
(1) the employment of counsel by the Indemnified Party has been authorized in writing by the Indemnifying Party, (2) the Indemnified
Party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or another Indemnified Party
that are different from or in addition to those available to the Indemnifying Party, (3) a conflict or potential conflict exists
(based on advice of counsel to the Indemnified Party) between an Indemnified Party and the Indemnifying Party (in which case the Indemnifying
Party will not have the right to direct the defense of such action on behalf of the Indemnified Party) or (4) the Indemnifying Party
has not in fact employed counsel to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in
each case, within a reasonable time after receiving notice of the commencement of the action; in each of which cases the reasonable fees,
disbursements and other charges of counsel will be at the expense of the Indemnifying Party. It is understood that the Indemnifying Party
shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements
and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction at any one time for all
such similarly situated Indemnified Parties. The Indemnifying Party will not be liable for any settlement of any action effected without
its prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Indemnifying Party shall not,
without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending
or threatened claim, action or proceeding relating to the matters contemplated by this Article IX (whether or not any indemnified
party is a party thereto), unless such settlement, compromise or consent (1) includes an express and unconditional release of each
indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation,
investigation, proceeding or claim and (2) does not include a statement as to or an admission of fault, culpability or a failure
to act by or on behalf of any indemnified party.

 

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(b)     In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
of this Article IX for any reason is held to be unavailable or insufficient to hold an Indemnified Party harmless, the Indemnifying
Party and the Indemnified Party will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative,
legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding
or any claim asserted) to which the Indemnifying Party and the Indemnified Party may be subject in such proportion as shall be appropriate
to reflect the relative benefits received by the Indemnifying Party on the one hand and the Indemnified Party on the other hand. The relative
benefits received by the Indemnifying Party on the one hand and the Indemnified Party on the other hand shall be deemed to be in the same
proportion as the total net proceeds from the aggregate of all VWAP Purchase Amounts (before deducting expenses) received by the Indemnifying
Party bear to the total proceeds received by the Indemnified Party for the sale of Shares to bona fide third parties net of the aggregate
VWAP Purchase Price paid to the Indemnifying Party under this Agreement. If, but only if, the allocation provided by the foregoing sentence
is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only
the relative benefits referred to in the foregoing sentence but also the relative fault of the Indemnifying Party, on the one hand, and
the Indemnified Party, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense
or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative
fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission
or alleged omission to state a material fact relates to information supplied by the Indemnifying Party or the Indemnified Party, the intent
of the parties and their relative Knowledge, access to information and opportunity to correct or prevent such statement or omission. The
Indemnifying Party and the Indemnified Party agree that it would not be just and equitable if contributions pursuant to this Section 9.3(b) were
to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations
referred to herein. The amount paid or payable by an Indemnified party as a result of the loss, claim, liability, expense, or damage,
or action in respect thereof, referred to above in this Section 9.3(b) shall be deemed to include, for the purpose of this Section 9.3(b),
any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action
or claim to the extent consistent with Section 9.3(a) hereof. Notwithstanding the foregoing provisions of this Section 9.3(b),
the Investor shall not be required to contribute any amount in excess of the proceeds from the resale of the Shares by the Investor, net
of the aggregate VWAP Purchase Price paid to the Company under this Agreement and no person found guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. For purposes of this Section 9.3(b), any person who controls a party to this Agreement within
the meaning of the Securities Act, any affiliates of the Investor Party and any officers, directors, partners, employees or agents of
the Investor Party or any of its affiliates, will have the same rights to contribution as that party, and each director of the Company
and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject
in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action
against such party in respect of which a claim for contribution may be made under this Section 9.3(b), will notify any such party
or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution
may be sought from any other obligation it or they may have under this Section 9.3(b) except to the extent that the failure
to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought.
No party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required
pursuant to Section 9.3(a) hereof.

 

The remedies provided for in this Article IX
are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Party at law or in equity.

 

Article X

MISCELLANEOUS

 

Section 10.1     Certain
Fees and Expenses. Except as otherwise agreed between the Company and the Investor and except
as set forth on Schedule 10.1 of this Agreement, each party shall bear its own fees and expenses related to the transactions contemplated
by this Agreement. The Company shall pay all U.S. federal, state and local stamp, transfer and other similar taxes and duties levied in
connection with issuance of the Shares pursuant hereto.

 

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Section 10.2     Specific
Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.

 

(i)               The
Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that either party shall
be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to
enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any bond or other security
being required), this being in addition to any other remedy to which either party may be entitled by law or equity.

 

(ii)              Each
of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other courts of
the United States sitting in the State of New York for the purposes of any suit, action or proceeding arising out of or relating to this
Agreement, and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of
the suit, action or proceeding is improper. Each of the Company and the Investor consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing in this Section 10.2 shall affect
or limit any right to serve process in any other manner permitted by law.

 

(iii)             EACH
OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT 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 AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE ENTERED INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.2.

 

Section 10.3     Entire
Agreement. The Transaction Documents set forth the entire agreement and understanding of
the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations and understandings
between the parties, both oral and written, with respect to such matters. There are no promises, undertakings, representations or warranties
by either party relative to subject matter hereof not expressly set forth in the Transaction Documents. All exhibits to this Agreement
are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein.

 

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Section 10.4     Irrevocable
Transfer Agent Instructions; Notice of Effectiveness. On the Effective Date of the Initial
Registration Statement and prior to Commencement, the Company shall deliver or cause to be delivered to its Transfer Agent, (a) irrevocable
instructions executed by the Company to be acknowledged in writing by the Company’s Transfer Agent (the “Commencement
Irrevocable Transfer Agent Instructions”) and (b) the notice of effectiveness in the form attached as an exhibit to
the Registration Rights Agreement (the “Notice of Effectiveness”) relating to the Initial Registration Statement,
in each case directing the Transfer Agent to issue to the Investor or its designated Broker-Dealer at which the account or accounts to
be credited with the Shares being purchased by the Investor are maintained any Registrable Securities included in the Initial Registration
Statement as DWAC Shares, if and when such Registrable Securities are issued in accordance with this Agreement and the Registration Rights
Agreement. With respect to any post-effective amendment to the Initial Registration Statement, any New Registration Statement or any post-effective
amendment to any New Registration Statement, in each case declared effective by the Commission after the Commencement Date, the Company
shall deliver or cause to be delivered to its Transfer Agent (x) irrevocable instructions in the form substantially similar to the
Commencement Irrevocable Transfer Agent Instructions executed by the Company and to be acknowledged in writing by the Transfer Agent and
(y) the Notice of Effectiveness, in each case modified as necessary to refer to such Registration Statement or post-effective amendment
and the Registrable Securities included therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with
the terms of this Agreement and the Registration Rights Agreement. For the avoidance of doubt, all Shares to be issued in respect of any
VWAP Purchase Notice delivered to the Investor pursuant to this Agreement shall be issued to the Investor in accordance with Section 3.2
by crediting the Investor’s account at DTC as DWAC Shares, and the Company shall not take any action or give instructions to any
Transfer Agent of the Company otherwise. The Company represents and warrants to the Investor that, while this Agreement is effective,
no instruction other than those referred to in this Section 10.4 will be given by the Company to its Transfer Agent with respect
to the Shares from and after Commencement, and the Registrable Securities covered by the Initial Registration Statement or any post-effective
amendment thereof, or any New Registration Statement or post-effective amendment thereof, as applicable, shall otherwise be freely transferable
on the books and records of the Company and no stop transfer instructions shall be maintained against the transfer thereof. The Company
agrees that if the Company fails to fully comply with the provisions of this Section 10.4 within three (3) Trading Days after
the date on which the Investor has provided any deliverables that the Investor may be required to provide to the Company or its Transfer
Agent (if any), the Company shall, at the Investor’s written instruction, purchase from the Investor all shares of Common Stock
purchased or acquired by the Investor pursuant to this Agreement that contain any restrictive legend or that have any stop transfer orders
maintained that prohibit or impede the transfer thereof in any respect at the greater of (i) the purchase price paid by the Investor
for such shares of Common Stock (as applicable) and (ii) the Closing Sale Price of the Common Shares on the date of the Investor’s
written instruction.

 

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Section 10.5     Notices.
Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall be in writing and shall be
effective (a) upon hand delivery or electronic mail delivery at the address or number designated below (if delivered on a business
day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day
following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The address for such communications shall be:

 

If to the Company:

 

Satixfy Communications Ltd.

Attention: Legal

12 Hamada St. Rehovot 670315

Israel

Email: Reut.tevet@satixfy.com

Attention: Reut Tevet

 

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

 

Davis, Polk & Wardwell LLP

450 Lexington Avenue, New York, NY 10017

Telephone Number: 212-450-4000

Email: michael.kaplan@davispolk.com and brian.wolfe@davispolk.com

Attention: Michael Kaplan and Brian Wolfe

 

If to the Investor:

 

CF Principal Investments

LLC 499 Park Avenue

New York, NY 10022

Email: CFPINotices@cantor.com

 

and:

 

CF Principal Investments LLC 499 Park

Avenue New York, NY 10022

Attention: General Counsel

Facsimile: (212) 829-4708

Email: #legal-IBD@cantor.com

 

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

 

King & Spalding LLP

1185 6th Avenue, Floor 34,

New York, NY 10036

Telephone Number: 212-556-2100

Email: kmanz@kslaw.com

Attention: Kevin E. Manz, Esq.

 

Either party hereto may from time to time change
its address for notices by giving at least five (5) days’ advance written notice of such changed address to the other party
hereto.

 

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Section 10.6     Waivers.
No provision of this Agreement may be waived by the parties from and after the date that is one (1) Trading Day immediately preceding
the filing of the Initial Registration Statement with the Commission. Subject to the immediately preceding sentence, no provision of this
Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver is sought. No failure
or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such power, right or privilege preclude other or further exercises thereof or of any other right, power or privilege.

 

Section 10.7     Amendments.
No provision of this Agreement may be amended by the parties from and after the date that is one (1) Trading Day immediately preceding
the filing of the Initial Registration Statement with the Commission. Subject to the immediately preceding sentence, no provision of this
Agreement may be amended other than by a written instrument signed by both parties hereto.

 

Section 10.8     Headings.
The article, section and subsection headings in this Agreement are for convenience only and shall not constitute a part of this Agreement
for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context clearly indicates otherwise,
each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,”
 “includes,” “include” and words of like import shall be construed broadly as if followed by the words “without
limitation.” The terms “herein,” “hereunder,” “hereof” and words of like import refer to this
entire Agreement instead of just the provision in which they are found.

 

Section 10.9     Construction.
The parties agree that each of them and their respective counsel has reviewed and had an opportunity to revise the Transaction Documents
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of the Transaction Documents. In addition, each and every reference to share prices and number
of Common Shares in any Transaction Document shall, in all cases, be subject to adjustment for any stock splits, stock combinations, stock
dividends, recapitalizations, reorganizations and other similar transactions that occur on or after the date of this Agreement. Any reference
in this Agreement to “Dollars” or “$” shall mean the lawful currency of the United States of America. Any references
to “Section” or “Article” in this Agreement shall, unless otherwise expressly stated herein, refer to the applicable
Section or Article of this Agreement.

 

Section 10.10     Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors. Neither the Company nor the Investor may assign this Agreement or any of their respective rights or obligations
hereunder to any Person.

 

Section 10.11     No
Third-Party Beneficiaries. Except as expressly provided in Article X, this Agreement
is intended only for the benefit of the parties hereto and their respective successors, and is not for the benefit of, nor may any provision
hereof be enforced by, any other Person.

 

    

     

    

 

Section 10.12     Governing
Law. This Agreement shall be governed by and construed in accordance with the internal procedural
and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the
application of the laws of any other jurisdiction.

 

Section 10.13     Survival.
The representations, warranties, covenants and agreements of the Company and the Investor contained in this Agreement shall survive the
execution and delivery hereof until the termination of this Agreement; provided, however, that (i) the provisions of
Article VIII (Termination), Article IX (Indemnification) and this Article X (Miscellaneous) shall remain in full force
and effect indefinitely notwithstanding such termination, and, (ii) so long as the Investor owns any Shares, the covenants and agreements
of the Company and the Investor contained in Article VI (Additional Covenants), shall remain in full force and effect notwithstanding
such termination for a period of thirty (30) days following such termination.

 

Section 10.14     Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile
signature or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying with
the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution and shall
be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

Section 10.15     Publicity.
The Company shall afford the Investor and its counsel with a reasonable opportunity to review and comment upon, shall consult with the
Investor and its counsel on the form and substance of, and shall give due consideration to all such comments from the Investor or its
counsel on, any press release, Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor,
its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby, prior to the issuance, filing
or public disclosure thereof. For the avoidance of doubt, the Company shall not be required to submit for review any such disclosure (i) contained
in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure to the Investor
or its counsel for review in connection with a previous filing or (ii) any Prospectus Supplement if it contains disclosure that does
not reference the Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby.

 

Section 10.16     Severability.
The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one
or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision
of this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part
of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent
possible.

 

Section 10.17     Further
Assurances. From and after the Commitment Date, upon the request of the Investor or the Company,
each of the Company and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary
or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement

 

    

     

    

 

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

 

		SatixFy Communications Ltd.
		 	 
		By:	/s/
Yoel Gat
		Name:	Yoel Gat
		Title:	Chief
Executive Officer
		 	 
		By:	/s/
Yoav Leibovitch
		Name:	Yoav
Leibovitch
		Title:	Chief
Financial Officer
		 	 
		CF Principal Investments LLC
		 	 
		By:	/s/ Mark Kaplan
		Name:	Mark Kaplan
		Title:	Global Chief Operating Officer

 

[Signature
Page to Equity Line Agreement]

 

    

     

    

 

ANNEX I TO THE

PURCHASE AGREEMENT

DEFINITIONS

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control
with a Person, as such terms are used in and construed under Rule 144.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar U.S. federal or state law for the relief of debtors.

 

“Bloomberg”
means Bloomberg, L.P.

 

“Commitment Date”
means the date of this Agreement.

 

“Commission”
means the U.S. Securities and Exchange Commission or any successor entity.

 

“Commission Documents”
shall mean (1) any registration statement on Form F-4 filed by the Company with the Commission, including any related prospectus
or prospectuses, for the registration of the Common Shares to be issued pursuant to the Business Combination Agreement, on file with the
Commission at the time such registration statement became effective, including the financial statements, schedules, exhibits and all other
documents filed as a part thereof or incorporated therein and all information deemed to be a part thereof as of the effective date of
such registration statement under the Securities Act (the “Company Form F-4 Registration Statement”), (2) any
proxy statement or prospectus filed by the Company with the Commission, including all documents incorporated or deemed incorporated therein
by reference, whether or not included in a registration statement on Form F-4, in the form in which such proxy statement or prospectus
has most recently been filed with the Commission pursuant to Rule 424(b) under the Securities Act, (3) all reports, schedules,
registrations, forms, statements, information and other documents filed with or furnished to the Commission by the Company pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act since the Commitment Effective Time, including, without limitation, the
Current Report, (4) each Registration Statement, as the same may be amended from time to time, the Prospectus contained therein and
each Prospectus Supplement thereto and (5) all information contained in such filings and all documents and disclosures that have
been and heretofore shall be incorporated by reference therein.

 

“Common Shares
Equivalents” means any securities of the Company or its Subsidiaries which entitle the holder thereof to acquire at any
time Common Shares, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at
any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Shares.

 

“Contract”
means any written or oral legally binding contract, agreement, understanding, arrangement, subcontract, loan or credit agreement, note,
bond, indenture, mortgage, purchase order, deed of trust, lease, sublease, instrument, or other legally binding commitment, obligation
or undertaking.

 

    

     

    

 

“Custodian”
shall mean any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“DTC”
means The Depository Trust Company, a subsidiary of The Depository Trust & Clearing Corporation, or any successor thereto.

 

“DWAC Shares”
means Common Shares issued pursuant to this Agreement that are (i) issued in electronic form, (ii) freely tradable and transferable
and without restriction on resale and without stop transfer instructions maintained against the transfer thereof and (iii) timely
credited by the Company to the Investor’s or its designated Broker-Dealer at which the account or accounts to be credited with the
Shares being purchased by Investor are maintained specified DWAC account with DTC under its Fast Automated Securities Transfer (FAST)
Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

“EDGAR”
means the Commission’s Electronic Data Gathering, Analysis and Retrieval System.

 

“Effective Date”
means, with respect to the Initial Registration Statement filed pursuant to Section 2(a) of the Registration Rights Agreement
(or any post-effective amendment thereto) or any New Registration Statement filed pursuant to Section 2(c) of the Registration
Rights Agreement (or any post-effective amendment thereto), as applicable, the date on which the Initial Registration Statement (or any
post-effective amendment thereto) or any New Registration Statement (or any post-effective amendment thereto) is declared effective by
the Commission.

 

“Encumbrance”
means any security interest, pledge, hypothecation, mortgage, lien or encumbrance, covenant, condition, restriction, easement, charge,
right of first refusal or first offer, or other restriction on title or transfer of any nature whatsoever.

 

“Environmental
Law” means any statute, law, ordinance, regulation, rule or code concerning or relating to: (i) the protection
of the environment or natural resources or, as such relates to exposure to Hazardous Materials, human health and safety (including workplace
and industrial hygiene); (ii) the presence, Release, generation, use, management, handling, transportation, treatment, storage or
disposal of Hazardous Materials; (iii) noise or odor including, without limitation, in the United States, the Comprehensive Environmental
Response, Compensation, and Liability Act, 42 U.S.C. § 9601, et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation
and Recovery Act of 1976, 42 U.S.C. 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. 2601, et seq.; the Federal Water Pollution
Control Act, 33 U.S.C. 1251, et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. 5101; the Safe Drinking Water Act, 42 U.S.C.
300f, et seq.; as it relates to exposure to Hazardous Materials, the Occupational Safety and Health Act, 29 U.S.C. 651, et seq.; the Emergency
Planning and Community Right to Know Act of 1986, 42 U.S.C. 11001, et seq.; the Atomic Energy Act, 42 U.S.C. 2014, et seq.; the Endangered
Species Act, 16 U.S.C. 1531, et seq.; the Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. 136, et seq.; the Clean Air Act,
42 U.S.C. 7401, et seq.; and the state and local analogues of each of the foregoing federal statutes.

 

“Environmental
Permit” means any Permit, approval, identification number, registration, exemption or license required pursuant to any applicable
Environmental Law.

 

    

     

    

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder.

 

“Exempt Issuance”
means the issuance of (a) Common Shares, options or other equity incentive awards to employees, officers, directors or vendors of
the Company pursuant to any equity incentive plan duly adopted for such purpose, by the Company’s Board of Directors or a majority
of the members of a committee of the Board of Directors established for such purpose, (1) any Shares issued to the Investor pursuant
to this Agreement, (2) any securities issued upon the exercise or exchange of or conversion of any Common Shares or Common Shares
Equivalents held by the Investor at any time, or (3) any securities issued upon the exercise or exchange of or conversion of any
Common Shares Equivalents issued and outstanding on the date of this Agreement, provided that such securities referred to in this clause
(3) have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise
price, exchange price or conversion price of such securities, (c) securities issued pursuant to acquisitions, divestitures, licenses,
partnerships, collaborations or strategic transactions approved by the Company’s Board of Directors or a majority of the members
of a committee of directors established for such purpose, which acquisitions, divestitures, licenses, partnerships, collaborations or
strategic transactions can have a Variable Rate Transaction component, provided that any such issuance shall only be to a Person (or to
the equity holders of a Person) which is, itself or through its subsidiaries, an operating company or an asset in a business synergistic
with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, but shall
not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose
primary business is investing in securities, (d) Common Shares issued by the Company to the Investor or an Affiliate of the Investor
in connection with any “equity line of credit” or other continuous offering or similar offering of Common Shares pursuant
to a written agreement between the Company and the Investor or an Affiliate of the Investor, whereby the Company may sell Common Shares
to the Investor or an Affiliate of the Investor at a future determined price or (e) Common Shares issued by the Company by any method
deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act, exclusively to or
through Cantor Fitzgerald & Co., as the Company’s sales agent, pursuant to one or more written agreements between the Company
and Cantor Fitzgerald & Co. Exempt Issuance does not include (i) the Business Combination Agreement, (ii) the PIPE
Agreements and (iii) the issuance of stock upon the exercise of the SPAC Warrants.

 

“FINRA”
means the Financial Industry Regulatory Authority.

 

“Fundamental Transaction”
means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate or merge with
or into (whether or not the Company is the surviving corporation) another Person, with the result that the holders of the Company’s
capital stock immediately prior to such consolidation or merger together beneficially own less than 50% of the outstanding voting power
of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company to another Person, or (3) take action to facilitate a purchase, tender or exchange
offer by another Person that is accepted by the holders of more than 50% of the outstanding Common Shares (excluding any Common Shares
held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase, tender
or exchange offer), or (4) consummate a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than
50% of the outstanding Common Shares (not including any Common Shares held by the other Person or other Persons making or party to, or
associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination),
or (5) reorganize, recapitalize or reclassify its Common Shares, or (ii) any “person” or “group” (as
these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power
represented by issued and outstanding Common Shares. For the avoidance of doubt, “Fundamental Transaction” shall not include
the Business Combination Agreement and the transactions contemplated therein.

 

    

     

    

 

“Governmental
Authority” means (i) any federal, provincial, state, local, municipal, national or international government or governmental
authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court,
tribunal, arbitrator or arbitral body (public or private); (ii) any self-regulatory organization; or (iii) any political subdivision
of any of the foregoing.

 

“Hazardous Material”
means any substance, material, or other matter regulated as toxic or hazardous, or as a contaminant or for which standards are imposed,
by any governmental authority because of its deleterious impact on the environment including but not limited to petroleum and petroleum
byproduct and distillates, asbestos and asbestos-containing materials, urea formaldehyde, polychlorinated biphenyls, mold, radon gas,
radioactive substances, and poly- and perfluoroalkyl substances.

 

“Initial Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Investment Period”
means the period commencing on the Effective Date of the Initial Registration Statement and expiring on the date this Agreement is terminated
pursuant to Article VIII.

 

“Knowledge”
means the actual knowledge of the Company’s Chief Executive Officer, the Company’s Chief Technical Officer, and the Company’s
Chief Financial Officer, in each case after reasonable inquiry of all officers, directors and employees of the Company and its Subsidiaries
who would reasonably be expected to have knowledge or information with respect to the matter in question.

 

“New Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Post-Effective
Amendment Period” means the period commencing at 9:30 a.m., New York City time, on the fifth (5th) Trading Day immediately
prior to the filing of any post- effective amendment to the Initial Registration Statement or any New Registration Statement, and ending
at 9:30 a.m., New York City time, on the Trading Day immediately following, the Effective Date of such post-effective amendment.

 

    

     

    

 

“Person”
means any person or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company,
trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority.

 

“Principal Market”
means the Nasdaq Capital Market; provided however, that in the event the Company’s Common Shares are ever listed or traded on the
New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, or the Nasdaq Global Market, then the “Principal Market”
shall mean such other market or exchange on which the Company’s Common Shares are then listed or traded.

 

“Prospectus”
means the prospectus in the form included in a Registration Statement, as supplemented from time to time by any Prospectus Supplement,
including the documents incorporated by reference therein.

 

“Prospectus Supplement”
means any prospectus supplement to the Prospectus filed with the Commission from time to time pursuant to Rule 424(b) under
the Securities Act, including the documents incorporated by reference therein.

 

“Registrable Securities”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Release”
means disposing, discharging, injecting, spilling, leaking, pumping, pouring, leaching, dumping, emitting, escaping or emptying into or
upon, from, or migrating through of Hazardous Materials, within or into, the air or any soil, sediment, subsurface strata, surface water
or groundwater, natural resources or structure.

 

“Remedial Action”
means any action required to investigate, clean up, remove or remediate, or conduct remedial, responsive, monitoring or corrective actions
with respect to, any presence or Release of Hazardous Materials.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect.

 

“Section 4(a)(2)”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.

 

“Shares”
shall mean the Common Shares that are and/or may be purchased by the Investor under this Agreement pursuant to one or more VWAP Purchase
Notices.

 

“Short Sales”
shall mean “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act.

 

    

     

    

 

“Subsidiary”
shall mean any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary
voting power for the election of directors or other persons performing similar functions are at the time owned directly or indirectly
by the Company and/or any of its other Subsidiaries.

 

“Total Commitment”
shall have the meaning assigned to such term in Section 2.1. “Trading Day” shall mean any day on which
the Principal Market or, if the Common Shares are then listed on a Principal Market, such Principal Market is open for trading (regular
way), including any day on which the Principal Market (or such Principal Market, as applicable) is open for trading (regular way) for
a period of time less than the customary time.

 

“Transaction Documents”
means, collectively, this Agreement (as qualified by the Commission Documents) and the exhibits hereto, the Registration Rights Agreement
and the exhibits thereto, and each of the other agreements, documents, certificates and instruments entered into or furnished by the parties
hereto in connection with the transactions contemplated hereby and thereby.

 

“Transfer Agent”
any transfer agent with respect to the Common Shares duly appointed by the Company or any duly appointed successor thereof.

 

“Variable Rate
Transaction” means a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible
into, exchangeable or exercisable for, or include the right to receive additional Common Shares or Common Shares Equivalents either (A) at
a conversion price, exercise price, exchange rate or other price that is based upon and/or varies with the trading prices of or quotations
for the Common Shares at any time after the initial issuance of such equity or debt securities, or (B) with a conversion, exercise
or exchange price that is subject to being reset at some future date after the initial issuance of such equity or debt security or upon
the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common
Shares (including, without limitation, any “full ratchet” or “weighted average” anti-dilution provisions, but
not including any standard anti-dilution protection for any reorganization, recapitalization, non-cash dividend, stock split or other
similar transaction), or (ii) issues or sells any equity or debt securities, including without limitation, Common Shares or Common
Shares Equivalents, either (A) at a price that is subject to being reset at some future date after the initial issuance of such debt
or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company
or the market for the Common Shares (other than standard anti- dilution protection for any reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction), or (B) that are subject to or contain any put, call, redemption, buy- back,
price-reset or other similar provision or mechanism (including, without limitation, a “Black-Scholes” put or call right, other
than in connection with a “fundamental transaction”) that provides for the issuance of additional equity securities of the
Company or the payment of cash by the Company, or (iii) enters into or effects a transaction under any agreement, including, but
not limited to, an “equity line of credit” or “at the market offering” or other continuous offering or similar
offering of Common Shares or Common Shares Equivalents, whereby the Company may sell Common Shares or Common Shares Equivalents at a future
determined price. For the avoidance of doubt, “Variable Rate Transaction” does not include (i) the Warrant Assumption
Agreement, (ii) the PIPE Warrant Agreements and (iii) the Backstop Facility (in each case, as defined in the Business Combination
Agreement).

 

    

     

    

 

“VWAP”
means, for the Common Shares for a specified period, the dollar volume- weighted average price for the Common Shares on the Principal
Market, for such period, as reported by Bloomberg through its “AQR” function. All such determinations shall be appropriately
adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction during such period.

 

“VWAP Purchase
Commencement Time” means, with respect to a VWAP Purchase made pursuant to Section 3.1, 9:30:01 a.m., New York City
time, on the applicable VWAP Purchase Date, or such other time on such VWAP Purchase Date publicly announced by the Principal Market as
the official open (or commencement) of trading (regular way) on the Principal Market (or such Principal Market, as applicable) on such
VWAP Purchase Date; provided, however, that if a VWAP Purchase Notice is delivered after 9:00 a.m., New York City time, on a VWAP
Purchase Date, then the VWAP Purchase Commencement Time shall start only upon receipt by the Company of written confirmation (which may
be by email) of acceptance by the Investor, and which confirmation shall specify the VWAP Purchase Commencement Time.

 

“VWAP Purchase
Date” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the Trading Day on which the Investor receives,
after 6:00 a.m., New York City time, but prior to 9:00 a.m., New York City time, on such Trading Day, a valid VWAP Purchase Notice for
such VWAP Purchase in accordance with this Agreement.

 

“VWAP Purchase
Maximum Amount” means, with respect to a VWAP Purchase made pursuant to Section 3.1, a number of Common Shares equal
to the least of (i) a number of Common Shares which, when aggregated with all other Common Shares then beneficially owned by the
Investor and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder),
would result in the beneficial ownership by the Investor of more than the Beneficial Ownership Limitation and (ii) a number of Shares
equal to (A) the VWAP Purchase Share Percentage multiplied by (B) the total number (or volume) of Common Shares traded on the
Principal Market during the applicable VWAP Purchase Period on the applicable VWAP Purchase Date for such VWAP Purchase and (iii) the
VWAP Purchase Share Estimate.

 

“VWAP Purchase
Notice” means, with respect to a VWAP Purchase made pursuant to Section 3.1, an irrevocable written notice delivered
by the Company to the Investor directing the Investor to purchase a VWAP Purchase Share Amount, at the applicable VWAP Purchase Price
therefor on the applicable VWAP Purchase Date for such VWAP Purchase in accordance with this Agreement.

 

“VWAP Purchase
Period” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the period on the applicable VWAP Purchase
Date for such VWAP Purchase beginning at the applicable VWAP Purchase Commencement Time and ending at the applicable VWAP Purchase Termination
Time.

 

“VWAP Purchase
Price” means the purchase price per Share to be purchased by the Investor in such VWAP Purchase on such VWAP Purchase Date
equal to ninety-seven percent (97.0%) of the VWAP over the applicable VWAP Purchase Period on such VWAP Purchase Date for such VWAP Purchase.

 

    

     

    

 

“VWAP Purchase
Share Amount” means, with respect to a VWAP Purchase made pursuant to Section 3.1, the number of Shares to be purchased
by the Investor in such VWAP Purchase as specified by the Company in the applicable VWAP Purchase Notice, which number of Shares shall
not exceed the applicable VWAP Purchase Maximum Amount.

 

“VWAP Purchase
Share Estimate” means the number of Common Shares constituting a good faith estimate by the Company of the number of Shares
that the Investor shall have the obligation to buy pursuant to the VWAP Purchase Notice.

 

“VWAP Purchase
Share Percentage” means, with respect to a VWAP Purchase made pursuant to Section 3.1, twenty percent (20%).

 

“VWAP Purchase
Termination Time” means, with respect to a VWAP Purchase made pursuant to Section 3.1, 4:00 p.m., New York City time,
on the applicable VWAP Purchase Date, or such other time publicly announced by the Principal Market as the official close of trading (regular
way) on the Principal Market on such applicable VWAP Purchase Date.

 

    

     

    

 

EXHIBIT A

FORM OF REGISTRATION RIGHTS AGREEMENT

 

    

     

    

 

EXHIBIT B

CLOSING CERTIFICATE

 

    

     

    

 

EXHIBIT C

 

COMPLIANCE CERTIFICATE

 

    

     

    

 

EXHIBIT D

 

FORM OF VWAP PURCHASE NOTICE

 

    

     

    

 

EXHIBIT E-1

 

Form of Opinion of Gross & Co.

 

    

     

    

 

EXHIBIT E-2

 

Form of Opinion of Davis Polk &
Wardwell LLP

 

    

     

    

 

EXHIBIT E-3

 

Form of 10b-5 Letter of Davis Polk &
Wardwell LLP

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