Document:

Exhibit 10.6

 

EQ Health Acquisition
Corporation

405 West 14th
Street

Austin, Texas
78701

 

		 	September 23,
2020

 

Molly Cate

4611 Bee Cave Road

Ste. 106

Austin, TX 78746

 

RE: Subscription
Agreement for Founder Shares

 

Ladies and Gentlemen:

 

We
are pleased to accept the offer Molly Cate (the “Subscriber” or “you”) has made to purchase 15,000 shares
(“Founder Shares”) of Class B common stock, $0.0001 par value per share (the “Class B Common
Stock” together with all other classes of Company (as defined below) common stock, the “Common Stock”),
of EQ Health Acquisition Corp., a Delaware corporation (the “Company”). The terms (this “Agreement”)
on which the Company is willing to sell the Founder Shares to the Subscriber, and the Company and the Subscriber’s agreements
regarding such Founder Shares, are as follows:

 

1.  Purchase
of Founder Shares. For the sum of $81.52 (the “Purchase Price”), which the Company acknowledges receiving
in cash, the Company hereby sells and issues the Founder Shares to the Subscriber, and the Subscriber hereby purchases the Founder
Shares from the Company on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s
execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s
name representing the Founder Shares, or effect such delivery in book-entry form.

 

2.  Representations,
Warranties and Agreements.

 

2.1.  The
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Founder Shares to the Subscriber,
the Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.  No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any
recommendation or endorsement of the offering of the Founder Shares.

 

2.1.2.  No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) any agreement, indenture or instrument
to which the Subscriber is a party, (ii) any law, statute, rule or regulation to which the Subscriber is subject, or
(iii) any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3.  Organization
and Authority. The Subscriber possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of the Subscriber,
enforceable against the Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

2.1.4.  Experience,
Financial Capability and Suitability. The Subscriber is: (i) sophisticated in financial matters and is able to evaluate
the risks and benefits of the investment in the Founder Shares and (ii) able to bear the economic risk of its investment in
the Founder Shares for an indefinite period of time because the Founder Shares have not been registered under the Securities Act
(as defined below) and therefore cannot be resold unless such transaction is registered under the Securities Act or an exemption
from such registration is available. The Subscriber is capable of evaluating the merits and risks of its investment in the Company
and has the capacity to protect its own interests. The Subscriber must bear the economic risk of this investment until the Founder
Shares are sold pursuant to: (x) an effective registration statement under the Securities Act or (y) an exemption from
registration available with respect to such sale. The Subscriber is able to bear the economic risks of an investment in the Founder
Shares and to afford a complete loss of the Subscriber’s investment in the Founder Shares.

 

     

     

    

 

2.1.5.  Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, the Subscriber has relied solely on
the Subscriber’s own knowledge and understanding of the Company and its business based upon the Subscriber’s own due
diligence investigation and the information furnished pursuant to this paragraph. The Subscriber understands that no person has
been authorized to give any information or to make any representations which were not furnished pursuant to this Section 2
and the Subscriber has not relied on any other representations or information in making its investment decision, whether written
or oral, relating to the Company, its operations or its prospects.

 

2.1.6.  Regulation
D Offering. The Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges the sale
contemplated hereby is being made in reliance on a private placement exemption applicable to “accredited investors”
within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under federal and
state law.

 

2.1.7.  Investment
Purposes. The Subscriber is purchasing the Founder Shares solely for investment purposes, for the Subscriber’s own account
and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof.
The Subscriber did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning
of Rule 502 of Regulation D under the Securities Act.

 

2.1.8.  Restrictions
on Transfer; Shell Company. The Subscriber understands the Founder Shares are being offered in a transaction not involving
a public offering within the meaning of the Securities Act. The Subscriber understands the Founder Shares will be “restricted
securities” as defined in Rule 144(a)(3) under the Securities Act and the Subscriber understands that any certificate
or book entries representing the Founder Shares will contain a legend in respect of such restrictions. If in the future the Subscriber
decides to offer, resell, pledge or otherwise transfer the Founder Shares, such Founder Shares may be offered, resold, pledged
or otherwise transferred only in accordance with the provisions of Section 5 hereof. The Subscriber agrees that if any transfer
of its Founder Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, the Subscriber
may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration under the Securities
Act or an exemption therefrom, the Subscriber agrees not to resell the Founder Shares. The Subscriber further acknowledges that
because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale of the Founder Shares
until at least one year following consummation of the initial business combination of the Company, despite technical compliance
with the certain requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9.  No
Governmental Consents. No governmental, administrative or other third-party consents or approvals are required, necessary or
appropriate on the part of the Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2.  Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Founder Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1.  Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which the
failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results
or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

     

     

    

 

2.2.2.  No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or Bylaws
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party, (iii) any law, statute,
rule or regulation to which the Company is subject, or (iv) any agreement, order, judgment or decree to which the Company
is subject.

 

2.2.3.  Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Founder Shares will be duly
and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the
Subscriber will have or receive good title to the Founder Shares, free and clear of all liens, claims and encumbrances of any kind,
other than (a) transfer restrictions hereunder and other agreements to which the Founder Shares may be subject which have
been notified to the Subscriber in writing, (b) transfer restrictions under federal and state securities laws, and (c) liens,
claims or encumbrances imposed due to the actions of the Subscriber.

 

2.2.4.  No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this
Agreement or (ii) question the validity or legality of any transactions or seek to recover damages or to obtain other relief
in connection with any transactions.

 

3.  [Reserved.]

 

4.  Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Founder Shares purchased pursuant to this Agreement,
the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company
from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially
all of the proceeds of the proposed initial public offering (“IPO”) will be deposited (the “Trust Account”),
in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination.
For purposes of clarity, in the event the Subscriber purchases securities in the IPO or securities of the Company issued in the
IPO in the aftermarket, any additional Common Stock so purchased shall be eligible to receive any liquidating distributions from
the Trust Account by the Company. However, in no event will the Subscriber have the right to redeem any shares of Common Stock
into funds held in the Trust Account upon the successful completion of an initial business combination.

 

5.  Restrictions
on Transfer.

 

5.1.  Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be entered into between the Company and the Subscriber in connection with the consummation of the IPO, the
Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Founder Shares unless,
prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities
laws with respect to the Founder Shares proposed to be transferred shall then be effective or (b) the Company has received
an opinion from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction
is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder
and with all applicable state securities laws.

 

5.2.  Lock-up.  The
Subscriber acknowledges that the Founder Shares will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter. Pursuant to the Insider Letter, the Subscriber will agree (subject to certain customary exceptions) not
to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Founder Shares until the earlier to occur
of: (A) one year after the completion of the Company’s initial business combination or (B) the date on which the
Company completes a liquidation, merger, stock exchange or other similar transaction after its initial business combination that
results in all of its stockholders having the right to exchange their shares of Common Stock for cash, securities or other property.
Notwithstanding the foregoing, if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock
splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after the Company’s initial business combination, the Founder Shares will be released from the
Lock-up.

 

     

     

    

 

5.3.  Restrictive
Legends. All certificates representing the Founder Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER
THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS
WHICH, IN THE OPINION OF COUNSEL (IF THE COMPANY SO REQUESTS), IS AVAILABLE.”

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCKUP PERIOD.”

 

5.4.  Additional
Founder Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of a special
dividend payable in a form other than Common Stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Common Stock without receipt of consideration, any new, substituted
or additional securities or other property which are by reason of such transaction distributed with respect to any Founder Shares
subject to this Section 5 or into which such Founder Shares thereby become convertible shall immediately be subject to this
Section 5 and Section 3. Appropriate adjustments to reflect the distribution of such securities or property shall be
made to the number or class of Founder Shares subject to this Section 5 and Section 3.

 

5.5.  Registration
Rights. The Subscriber acknowledges that the Founder Shares are being purchased pursuant to an exemption from the
registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they
are registered pursuant to a registration and Stockholder rights agreement to be entered into with the Company prior to the
closing of the IPO (the “Registration and Stockholder Rights Agreement”).

 

6.  Other
Agreements.

 

6.1.  Further
Assurances. The Subscriber agrees to execute such further instruments and to take such further action as may reasonably be
necessary to carry out the intent of this Agreement.

 

6.2.  Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered:
(i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most
recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice
or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the
business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

6.3.  Entire
Agreement. This Agreement, together with that certain Insider Letter to be entered into between the Subscriber and the Company
and the Registration
and Stockholder Rights Agreement, each substantially in the form to be filed as an exhibit to the registration statement on
Form S-1 expected to be filed by the Company in connection with the IPO, embodies the entire agreement and understanding between
the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and
understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind
not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions
of this Agreement.

 

6.4.  Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5.  Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent.

 

     

     

    

 

6.6.  Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
the other party.

 

6.7.  Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
as a third-party beneficiary of this Agreement.

 

6.8.  Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York applicable to contracts wholly performed within the borders of such state.

 

6.9.  Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

6.10.  No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this 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 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 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.

 

6.11.  Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

6.12.  No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to
create any liability on the other. Each of the parties hereto agrees to indemnify and hold the other harmless from any claim or
demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13.  Headings
and Captions. The headings and captions of the various sections of this 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.

 

6.14.  Counterparts.
This 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 party, it being
understood that both 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.

 

     

     

    

 

6.15.  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 Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular section
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.

 

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

 

7.  Voting
and Redemption of Founder Shares. The Subscriber agrees to vote the Founder Shares in favor of an initial business combination
that the Company negotiates and submits for approval to the Company’s stockholders and shall not seek redemption with respect
to such Founder Shares. Additionally, the Subscriber agrees not to redeem any Founder Shares in connection with a redemption or
tender offer presented to the Company’s stockholders in connection with an initial business combination negotiated by the
Company.

 

8.  Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorneys’ fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

     

     

    

 

If the foregoing
accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

 

	 	 	Very truly yours,
	 	 	 
	 	 	EQ HEALTH ACQUISITION CORP.
	 	 	 
	 	 	 
	 	 	 /s/ Scott Ellyson
	 	 	Name: Scott Ellyson
	 	 	Title:   President and Chief Executive Officer
	 	 	 
	Accepted and agreed this 23rd day of September, 2020.	 	 
	 	 	 
	 	 	 
	 /s/ Molly Cate	 	 
	Molly Cate	 	 

 

[Signature
Page to Subscription Agreement]Exhibit 10.7

 

WARRANT PURCHASE
AGREEMENT

 

THIS WARRANT PURCHASE
AGREEMENT (as it may from time to time be amended, this “Agreement”), dated as of , 2021, is entered into by
and among EQ Health Acquisition Corp., a Delaware corporation (the “Company”), and EQ Health Sponsor Group,
LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS, the Company
intends to consummate an initial public offering of the Company’s units (the “Public Offering”), each
unit consisting of one share of Class A common stock of the Company, par value $0.0001 per share (each, a “Share”),
and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of $11.50
per Share, as set forth in the Company’s Registration Statement on Form S-1, filed with the U.S. Securities and Exchange
Commission (the “SEC”), File Number 333- (the “Registration Statement”), under the Securities
Act of 1933, as amended (the “Securities Act”).

 

WHEREAS, the Purchaser
has agreed to purchase, at a price of $1.00 per warrant, an aggregate of 5,200,000 warrants (and up to 480,000 additional warrants
if the underwriters in the Public Offering exercise their over-allotment option in full) (the “Private Placement Warrants”),
each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.

 

NOW THEREFORE,
in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.
Authorization, Purchase and Sale; Terms of the Private Placement Warrants.

 

A. Authorization
of the Private Placement Warrants.  The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchaser.

 

B. Purchase
and Sale of the Private Placement Warrants.

 

(i) On
the date of the consummation of the Public Offering (the “IPO Closing Date”), the Company shall issue and sell
to the Purchaser, and the Purchaser shall purchase from the Company, 5,200,000 Private Placement Warrants at a price of $1.00 per
warrant for an aggregate purchase price of $5,200,000 (the “Purchase Price”).  The Purchaser shall pay
the Purchase Price by wire transfer of immediately available funds in accordance with the Company’s wiring instructions,
at least one (1) business day prior to the IPO Closing Date.  On the IPO Closing Date, upon the payment by the Purchaser
of the Purchase Price, by wire transfer of immediately available funds to the Company, the Company, at its option, shall deliver
a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name to
the Purchaser or effect such delivery in book-entry form.

 

(ii) On
the date of the closing of the over-allotment option, if any, in connection with the Public Offering or on such earlier time
and date as may be mutually agreed by the Purchaser and the Company (each such date, an “Over-allotment Closing
Date”, and each Over-allotment Closing Date (if any) and the IPO Closing Date, a “Closing
Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to
480,000 Private Placement Warrants (or, to the extent the over-allotment option is not exercised in full, a lesser number of
Private Placement Warrants in proportion to portion of the over-allotment option that is exercised) at a price of $1.00 per
warrant for an aggregate purchase price of up to $480,000 (the “Over-allotment Purchase Price”).  The
Purchaser shall pay the Over-allotment Purchase Price by wire transfer of immediately available funds in accordance with the
Company’s wiring instructions, at least one (1) business day prior to the Over-allotment Closing Date.  On
the Over-allotment Closing Date, upon the payment by the Purchaser of the Over-allotment Purchase Price, by wire transfer of
immediately available funds to the Company, the Company, at its option, shall deliver a certificate evidencing the Private
Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect such
delivery in book-entry form.

 

     

     

    

 

C. Terms
of the Private Placement Warrants.

 

(i) Each
Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant
agent, in connection with the Public Offering (the “Warrant Agreement”), and shall be subject to the terms of
a letter agreement to be entered into by the Company, the Purchaser and the other parties thereto, in connection with the Public
Offering.

 

(ii) At
the time of, or prior to, the IPO Closing Date, the Company and the Purchaser shall enter into a registration and stockholder rights
agreement (the “Registration and Stockholder Rights Agreement”) pursuant to which the Company will grant certain
registration rights to the Purchaser relating to the Private Placement Warrants and the Shares underlying the Private Placement
Warrants.

 

Section 2.
Representations and Warranties of the Company.

 

As a material inducement
to the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company hereby represents and warrants
to the Purchaser (which representations and warranties shall survive each Closing Date) that:

 

A. Incorporation
and Corporate Power.  The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.  The
Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement
and the Warrant Agreement.

 

B. Authorization;
No Breach.

 

(i) The
execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company
as of each Closing Date.  This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding
in equity or law).  Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this
Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance
with their terms as of each Closing Date.

 

(ii) The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of and compliance
with the respective terms hereof and thereof by the Company, do not and will not as of each Closing Date (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in
a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration
to, or filing with, any court or administrative or governmental body or agency pursuant to the certificate of incorporation or
the bylaws of the Company (in effect on the date hereof or as may be amended prior to completion of the Public Offering) or any
material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to
which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.

 

     

     

    

 

C. Title
to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement,
the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and nonassessable. 
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have
good title to the Private Placement Warrants purchased by it and the Shares issuable upon exercise of such Private Placement Warrants,
free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under
the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens,
claims or encumbrances imposed due to the actions of the Purchaser.

 

D. Governmental
Consents.  No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority
is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by
the Company of any other transactions contemplated hereby.

 

E. Regulation
D Qualification.  Neither the Company nor, to its actual knowledge, any of its affiliates, members, officers, directors
or beneficial shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant
to Rule 506(d) of Regulation D under the Securities Act.

 

Section 3.
Representations and Warranties of the Purchaser.

 

As a material inducement
to the Company to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby
represents and warrants to the Company (which representations and warranties shall survive each Closing Date) that:

 

A. Organization
and Requisite Authority.  The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B. Authorization;
No Breach.

 

(i) This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii) The
execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
does not and shall not as of each Closing Date (a) conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or
encumbrance upon the Purchaser’s equity or assets under, (d) result in a violation of, or (e) require any authorization,
consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental
body or agency pursuant to the Purchaser’s organizational documents in effect on the date hereof or as may be amended prior
to completion of the contemplated Public Offering, or any material law, statute, rule or regulation to which the Purchaser
is subject, or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any filings required
after the date hereof under federal or state securities laws.

 

C. Investment
Representations.

 

(i) The
Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares
issuable upon such exercise (collectively, the “Securities”) for its own account, for investment purposes
only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

     

     

    

 

(ii) The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D, and the
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.

 

(iii) The
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv) The
Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502(c) under the Securities Act.

 

(v) The
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser.  The Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company.  The Purchaser understands that its
investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi) The
Purchaser 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 Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii) The
Purchaser understands that:  (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered
thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration
and Stockholder Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under
the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder.  In
this regard, the Purchaser understands that the SEC has taken the position that promoters or affiliates of a blank check company
and their transferees, both before and after an initial Business Combination, are deemed to be “underwriters” under
the Securities Act when reselling the securities of a blank check company.  Based on that position, Rule 144 adopted
pursuant to the Securities Act would not be available for resale transactions of the Securities despite technical compliance with
the requirements of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another
exemption from the registration requirements of the Securities Act.

 

(viii) The
Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time.  The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities.  The Purchaser can afford a complete loss of its investments in the Securities.

 

     

     

    

 

Section 4.
Conditions of the Purchaser’s Obligations.

 

The obligations
of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or before each Closing
Date, of each of the following conditions:

 

A. Representations
and Warranties.  The representations and warranties of the Company contained in Section 2 shall be true and correct
at and as of such Closing Date as though then made.

 

B. Performance. 
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before such Closing Date.

 

C. No
Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D. Warrant
Agreement and Registration and Stockholder Rights Agreement.  The Company shall have entered into the Warrant Agreement
and the Registration and Stockholder Rights Agreement, in each case on terms satisfactory to the Purchaser.

 

Section 5.
Conditions of the Company’s Obligations.

 

The obligations
of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of
the following conditions:

 

A. Representations
and Warranties.  The representations and warranties of the Purchaser contained in Section 3 shall be true and correct
at and as of such Closing Date as though then made.

 

B. Performance. 
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C. Corporate
Consents.  The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and
performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder.

 

D. No
Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

E. Warrant
Agreement and Registration and Stockholder Rights Agreement.  The Company shall have entered into the Warrant Agreement
and the Registration and Stockholder Rights Agreement, in each case on terms satisfactory to the Company.

 

Section 6.
Termination.

 

This Agreement
may be terminated by the Company or the Purchaser at any time after , 2021 upon written notice to the other party hereto if the
closing of the Public Offering does not occur prior to such date.

 

Section 7.
Survival of Representations and Warranties.

 

All of the representations
and warranties contained herein shall survive each Closing Date.

 

     

     

    

 

Section 8.
Definitions.

 

Terms used but
not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9.
Miscellaneous.

 

A. Successors
and Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto
whether so expressed or not.  Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign
this Agreement, other than assignments by the Purchaser to affiliates thereof (including, without limitation one or more of its
members).

 

B. Severability. 
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts. 
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D. Descriptive
Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement.  The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

E. Governing
Law.  This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes
shall be construed in accordance with the internal laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the laws of another jurisdiction.

 

F. Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.

 

[Signature
page follows]

 

     

     

    

 

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

 

	 	COMPANY:
	 	 
	 	EQ
    HEALTH ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	Scott
    Ellyson
	 	Title:	President
    and Chief Executive Officer

 

	 	PURCHASER:
	 	 
	 	EQ HEALTH SPONSOR GROUP,
    LLC
	 	 
	 	By:	 
	 	Name: 	Andrew Beckman
	 	Title:	Manager
	 	 
	 	 
	 	By:	 
	 	Name:	Lewis
    N. Little, Jr.
	 	Title:	Manager

 

[Signature Page to Warrant Purchase Agreement]

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