Document:

Exhibit 10.5

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this
“Agreement”), dated as of [____], 2021, is made and entered into by and among Clarim Acquisition Corp.,
a Delaware corporation (the “Company”), Clarim Partners, LLC, a Delaware limited liability company (the
“Sponsor”), and each of the undersigned parties listed under Holder on the signature page hereto (each
such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section
5.2 of this Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS, the Company and the Sponsor
have entered into that certain Securities Subscription Agreement, dated as of November 10, 2020, pursuant to which the Sponsor
purchased an aggregate of 7,187,500 shares (the “Founder Shares”) of the Company’s Class B common
stock, par value $0.0001 per share (“Class B Common Stock”);

 

WHEREAS, the Founder Shares are convertible
into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”),
on the terms and conditions provided in the Company’s amended and restated certificate of incorporation;

 

WHEREAS, on [____], 2021, the Company
and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement, pursuant to which the Sponsor agreed to
purchase an aggregate of 7,000,000 warrants (or up to 7,750,000 warrants pro rata to the extent that the over-allotment option
in connection with the Company’s initial public offering is exercised) (the “Private Placement Warrants”)
at a price of $1.00 per warrant, in a private placement transaction occurring simultaneously with the closing of the Company’s
initial public offering (and the closing of the over-allotment option, if applicable);

 

WHEREAS, in order to finance the
Company’s transaction costs in connection with an intended initial Business Combination (as defined below), the Sponsor or
an affiliate of the Sponsor or certain officers and directors of the Company may loan to the Company funds as the Company may require,
of which up to $1,500,000 of such loans may be convertible into warrants (“Working Capital Warrants”)
at a price of $1.00 per warrant; and

 

WHEREAS, the Company and the Holders
desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect
to certain securities of the Company, as set forth in this Agreement.

 

ARTICLE I

DEFINITIONS

 

NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.1 Definitions. The terms defined
in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief
Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required
to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein
(in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not
misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the
Company has a bona fide business purpose for not making such information public.

 

     

     

    

 

“Agreement” shall
have the meaning given in the Preamble.

 

“Board” shall
mean the Board of Directors of the Company.

 

“Business Combination”
shall mean any merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses, involving the Company.

 

“Commission” shall
mean the Securities and Exchange Commission.

 

“Common Stock”
shall have the meaning given in the Recitals hereto.

 

“Company” shall
have the meaning given in the Preamble.

 

“Demand Registration”
shall have the meaning given in subsection 2.1.1.

 

“Demanding Holder”
shall have the meaning given in subsection 2.1.1.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form S-1” shall
have the meaning given in subsection 2.1.1.

 

“Form S-3” shall
have the meaning given in subsection 2.3.

 

“Founder Shares”
shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of Common Stock issuable upon conversion
thereof.

 

“Founder Shares Lock-up Period”
shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) one year after the completion of the Business
Combination or (B) subsequent to the Business Combination, (x) if the last reported 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 Business Combination or (y) the date on which the
Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all
of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property.

 

“Holders” shall
have the meaning given in the Preamble.

 

“Insider Letter”
shall mean that certain letter agreement, dated as of [____], 2021, by and among the Company, the Sponsor and each of the Company’s
officers, directors and director nominees.

 

“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances
under which they were made) not misleading.

 

“Permitted Transferees”
shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities
prior to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, under the
Insider Letter, this Agreement and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.2.1.

 

“Private Placement Lock-up Period”
shall mean, with respect to Private Placement Warrants that are held by the initial purchasers of such Private Placement Warrants
or their Permitted Transferees, and any shares of Common Stock issued or issuable upon the exercise or conversion of the Private
Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants or their Permitted Transferees,
the period ending 30 days after the completion of the Business Combination.

 

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“Private Placement Warrants”
shall have the meaning given in the Recitals hereto.

 

“Prospectus” shall
mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security”
shall mean (a) the shares of Common Stock issued or issuable upon the conversion of any Founder Shares, (b) the Private Placement
Warrants (including any shares of Common Stock issued or issuable upon the exercise of any such Private Placement Warrants), (c)
any outstanding share of Common Stock or any other equity security (including the shares of Common Stock issued or issuable upon
the exercise of any other equity security) of the Company held by a Holder as of the date of this Agreement, (d) the Working Capital
Warrants and any shares of Common Stock issued or issuable upon the exercise of the Working Capital Warrants, and (e) any other
equity security of the Company issued or issuable with respect to any such share of Common Stock by way of a stock dividend or
stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided,
however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when:
(A) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and
such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (B)
such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further
transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration
pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but
with no volume or other restrictions or limitations); or (E) such securities have been sold to, or through, a broker, dealer or
underwriter in a public distribution or other public securities transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A) all registration and filing fees (including
fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any securities exchange
on which the Common Stock is then listed;

 

(B) fees and expenses of compliance with
securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in connection with blue
sky qualifications of Registrable Securities);

 

(C) printing, messenger, telephone and delivery
expenses;

 

(D) reasonable fees and disbursements of
counsel for the Company;

 

(E) reasonable fees and disbursements of
all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

 

(F) reasonable fees and expenses of one
(1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered
for offer and sale in the applicable Registration.

 

“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including
the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such
registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

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“Requesting Holder”
shall have the meaning given in subsection 2.1.1.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

 

“Sponsor” shall
have the meaning given in the Recitals hereto.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to an
Underwriter in a firm commitment underwriting for distribution to the public.

 

“Working Capital Warrants”
shall have the meaning given in the Recitals hereto.

 

ARTICLE II

REGISTRATIONS

 

2.1 Demand Registration.

 

2.1.1 Request for Registration.
Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from time to time on or after
the date the Company consummates the Business Combination, the Holders of at least a majority in interest of the then-outstanding
number of Registrable Securities (the “Demanding Holders”) may make a written demand for Registration
of all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to be included
in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).
The Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other
Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all
or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder
that includes all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)
shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon
receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall
be entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall
effect, as soon thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt
of the Demand Registration, the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders
pursuant to such Demand Registration. Under no circumstances shall the Company be obligated to effect more than an aggregate of
three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable
Securities; provided, however, that a Registration shall not be counted for such purposes unless a Form S-1 or any
similar long-form registration statement that may be available at such time (“Form S-1”) has become effective
and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders
in such Form S-1 Registration have been sold, in accordance with Section 3.1 of this Agreement.

 

2.1.2 Effective Registration. Notwithstanding
the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration
shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission with respect to a Registration
pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied with all of its
obligations under this Agreement with respect thereto; provided, further, that if, after such Registration Statement
has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently
interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental agency the
Registration Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until,
(i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding
Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify
the Company in writing, but in no event later than five (5) days, of such election; and provided, further, that the
Company shall not be obligated or required to file another Registration Statement until the Registration Statement that has been
previously filed with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

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2.1.3 Underwritten Offering. Subject
to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the Demanding Holders
so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant to such Demand
Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder (if
any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in
such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the
extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering
under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected
for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

2.1.4 Reduction of Underwritten Offering.
If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises
the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable
Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other shares
of Common Stock or other equity securities that the Company desires to sell and shares of Common Stock, if any, as to which a Registration
has been requested pursuant to separate written contractual piggy-back registration rights held by any other stockholders who desire
to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering
without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of
such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number
of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable
Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable
Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration
and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders have requested be included
in such Underwritten Registration) that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clause (i), shares of Common Stock or other equity
securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; (iii) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), shares of Common
Stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant
to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities;
and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii)
and (iii), shares of Common Stock or other equity securities of other persons or entities that the Company is obligated to register
in a Registration pursuant to Section 2.2 and that can be sold without exceeding the Maximum Number of Securities.

 

2.1.5 Demand Registration Withdrawal.
A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders
(if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from a Registration pursuant
to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with
the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

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2.2 Piggyback Registration.

 

2.2.1 Piggyback Rights. If, at
any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration Statement
under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company
and by the stockholders of the Company including, without limitation, pursuant to Section 2.1 hereof), other than a Registration
Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering
of securities solely to the Company’s existing stockholders, (iii) for an offering of debt that is convertible into equity
securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall give written notice of such proposed
filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated
filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be included in
such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any,
in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number
of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such written notice (such
Registration a “Piggyback Registration”). The Company shall, in good faith, cause such Registrable Securities
to be included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter or Underwriters
of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection
2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company
included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the
intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten
Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the Company.

 

2.2.2 Reduction of Piggyback Registration.
If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith,
advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar
amount or number of shares of Common Stock that the Company desires to sell, taken together with (i) the shares of Common Stock,
if any, as to which Registration has been demanded pursuant to separate written contractual arrangements with persons or entities
other than the Holders of Registrable Securities hereunder (ii) the Registrable Securities as to which registration has been requested
pursuant to Section 2.2 hereof, and (iii) the shares of Common Stock, if any, as to which Registration has been requested
pursuant to separate written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum
Number of Securities, then:

 

(a) If the Registration is undertaken
for the Company’s account, the Company shall include in any such Registration (A) first, the shares of Common Stock or other
equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; (B) second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities
of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof, pro rata,
based on the respective number of Registrable Securities that each Holder has so requested exercising its rights to register its
Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock, if any,
as to which Registration has been requested pursuant to written contractual piggy-back registration rights of other stockholders
of the Company, which can be sold without exceeding the Maximum Number of Securities;

 

(b) If the Registration is pursuant to
a request by persons or entities other than the Holders of Registrable Securities, then the Company shall include in any such Registration
(A) first, the shares of Common Stock or other equity securities, if any, of such requesting persons or entities, other than the
Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders
exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1, pro rata based on the number
of Registrable Securities that each Holder has requested be included in such Underwritten Registration and the aggregate number
of Registrable Securities that the Holders have requested to be included in such Underwritten Registration, which can be sold without
exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (A) and (B), the shares of Common Stock or other equity securities that the Company desires to sell,
which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other equity securities
for the account of other persons or entities that the Company is obligated to register pursuant to separate written contractual
arrangements with such persons or entities, which can be sold without exceeding the Maximum Number of Securities.

 

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2.2.3 Piggyback Registration Withdrawal.
Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever
upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw
from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal
by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission
in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

 

2.2.4 Unlimited Piggyback Registration
Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not be counted as a
Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

2.3 Registrations on Form S-3. Any
Holder of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to Rule
415 under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale of any or all
of their Registrable Securities on Form S-3 or any similar short form registration statement that may be available at such time
(“Form S-3”); provided, however, that the Company shall not be obligated to effect such
request through an Underwritten Offering. Within five (5) days of the Company’s receipt of a written request from a Holder
or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly give written notice of the proposed
Registration on Form S-3 to all other Holders of Registrable Securities, and each Holder of Registrable Securities who thereafter
wishes to include all or a portion of such Holder’s Registrable Securities in such Registration on Form S-3 shall so notify
the Company, in writing, within ten (10) days after the receipt by the Holder of the notice from the Company. As soon as practicable
thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request for a Registration
on Form S-3, the Company shall register all or such portion of such Holder’s Registrable Securities as are specified in such
written request, together with all or such portion of Registrable Securities of any other Holder or Holders joining in such request
as are specified in the written notification given by such Holder or Holders; provided, however, that the Company
shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (i) a Form S-3 is not available
for such offering; or (ii) the Holders of Registrable Securities, together with the Holders of any other equity securities of the
Company entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities
(if any) at any aggregate price to the public of less than $10,000,000.

 

2.4 Restrictions on Registration Rights.
If (A) during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of
the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration
and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to
subsection 2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Registration
Statement to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are
unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board
such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer
the filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate
signed by the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the
Company for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of
such Registration Statement. In such event, the Company shall have the right to defer such filing for a period of not more than
thirty (30) days; provided, however, that the Company shall not defer its obligation in this manner more than once
in any 12-month period.

 

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ARTICLE III

COMPANY PROCEDURES

 

3.1 General Procedures. If at any
time on or after the date the Company consummates a Business Combination the Company is required to effect the Registration of
Registrable Securities, the Company shall use its best efforts to effect such Registration to permit the sale of such Registrable
Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously
as possible:

 

3.1.1 prepare and file with the Commission
as soon as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts
to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such
Registration Statement have been sold;

 

3.1.2 prepare and file with the Commission
such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be
reasonably requested by the majority in interest of the Holders with Registrable Securities registered on such Registration Statement
or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the
registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement
effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan
of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3 prior to filing a Registration Statement
or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters, if any, and the Holders of Registrable
Securities included in such Registration, and such Holders’ legal counsel, copies of such Registration Statement as proposed
to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents
incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus),
and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration or the legal
counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such Holders;

 

3.1.4 prior to any public offering of
Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request and (ii) take
such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved
by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and
all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration
Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction
where it is not then otherwise so subject;

 

3.1.5 cause all such Registrable Securities
to be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are then
listed;

 

3.1.6 provide a transfer agent or warrant
agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration Statement;

 

3.1.7 advise each seller of such Registrable
Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission
suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose
and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop
order should be issued;

 

3.1.8 at least five (5) days prior to
the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus
or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof
to each seller of such Registrable Securities or its counsel;

 

    8

     

    

 

3.1.9 notify the Holders at any time when
a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of
any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement,
and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10 permit a representative of the
Holders (such representative to be selected by a majority of the participating Holders), the Underwriters, if any, and any attorney
or accountant retained by such Holders or Underwriters to participate, at each such person’s own expense, in the preparation
of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information reasonably
requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided,
however, that such representative or Underwriters enter into a confidentiality agreement, in form and substance reasonably
satisfactory to the Company, prior to the release or disclosure of any such information and provided further, the Company
may not include the name of any Holder or Underwriter or any information regarding any Holder or Underwriter in any Registration
Statement or Prospectus, any amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated
by reference into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent
of such Holder or Underwriter and providing each such Holder or Underwriter a reasonable amount of time to review and comment on
such applicable document, which comments the Company shall include unless contrary to applicable law;

 

3.1.11 obtain a “cold comfort”
letter from the Company’s independent registered public accountants in the event of an Underwritten Registration which the
participating Holders may rely on, in customary form and covering such matters of the type customarily covered by “cold comfort”
letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

3.1.12 on the date the Registrable Securities
are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for
the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriters,
if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the Holders,
placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and negative
assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;

 

3.1.13 in the event of any Underwritten
Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing
Underwriter of such offering;

 

3.1.14 make available to its security
holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning
with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which
satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated
thereafter by the Commission);

 

3.1.15 if the Registration involves the
Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use its reasonable efforts to make available
senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested
by the Underwriter in any Underwritten Offering; and

 

3.1.16 otherwise, in good faith, cooperate
reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration.

 

3.2 Registration Expenses. The Registration
Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all
incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts,
brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,”
all reasonable fees and expenses of any legal counsel representing the Holders.

 

    9

     

    

 

3.3 Requirements for Participation in
Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities of the Company pursuant
to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities on the
basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably
required under the terms of such underwriting arrangements.

 

3.4 Suspension of Sales; Adverse Disclosure.
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the
Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use
of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect
of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such
Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control,
the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of,
or suspend use of, such Registration Statement for the shortest period of time, but in no event more than ninety (90) days in any
12-month period, determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its
rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above,
their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities. The
Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights under this Section
3.4.

 

3.5 Reporting Obligations. As long
as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange
Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports
required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act
and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants that it shall
take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder
to sell shares of Common Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission), including
providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification
of a duly authorized officer as to whether it has complied with such requirements.

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1 Indemnification.

 

4.1.1 The Company agrees to indemnify,
to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each person who controls
such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including
attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused
by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The Company shall
indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of
the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.

 

    10

     

    

 

4.1.2 In connection with any Registration
Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such
information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus
and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls
the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including
without limitation reasonable attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration
Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact
required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue
statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein;
The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls
such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification
of the Company. For the avoidance of doubt, the obligation to indemnify under this Section 4.1.2 shall be several, not joint and
several, among the Holders of Registrable Securities, and the total indemnification liability of a Holder under this Section 4.1.2
shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant
to such Registration Statement.

 

4.1.3 Any person entitled to indemnification
herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification
(provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the
extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable
judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit
such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such
defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party
without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects
not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a
conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim.
No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any
settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party
pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

4.1.4 The indemnification provided for
under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified
party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities.

 

4.1.5 If the indemnification provided
under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party
in respect of any losses, claims, damages, liabilities and expenses 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; provided,
however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. 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 in subsections
4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party
in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does
not take account of the equitable considerations referred to in this subsection 4.1.5. 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 subsection
4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

    11

     

    

 

ARTICLE V

MISCELLANEOUS

 

5.1 Notices. Any notice or communication
under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified,
postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing
evidence of delivery, or (iii) transmission by hand delivery, facsimile or electronic mail. Each notice or communication that is
mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received,
in the case of mailed notices, on the third business day following the date on which it is mailed and, in the case of notices delivered
by courier service, hand delivery, facsimile or electronic mail, at such time as it is delivered to the addressee (with the delivery
receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or
communication under this Agreement must be addressed, if to the Company, to: 245 Fifth Avenue, Suite 1500, New York, NY 10016,
and, if to any Holder, at such Holder’s address or contact information as set forth in the Company’s books and records.
Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and
such change of address shall become effective thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

5.2 Assignment; No Third Party Beneficiaries.

 

5.2.1 This Agreement and the rights, duties
and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

 

5.2.2 Prior to the expiration of the Founder
Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign or delegate such Holder’s
rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities
by such Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by the transfer restrictions
set forth in this Agreement.

 

5.2.3 This Agreement and the provisions
hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns
of the Holders, which shall include Permitted Transferees.

 

5.2.4 This Agreement shall not confer
any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section
5.2 hereof.

 

5.2.5 No assignment by any party hereto
of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the
Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written
agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement
(which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than
as provided in this Section 5.2 shall be null and void.

 

5.3 Counterparts. This Agreement
may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original,
and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4 Governing Law; Venue. NOTWITHSTANDING
THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED
INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION AND (II)
THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE
OF NEW YORK.

 

    12

     

    

 

EACH PARTY HERETO ACKNOWLEDGES AND AGREES
THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND, THEREFORE,
EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH
PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR
RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

5.5 Amendments and Modifications.
Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities at the
time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or
any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding
the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the
shares of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall
require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto
or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall
operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies
under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or
thereunder by such party.

 

5.6 Other Registration Rights. The
Company represents and warrants that no person, other than a Holder of Registrable Securities, has any right to require the Company
to register any securities of the Company for sale or to include such securities of the Company in any Registration filed by the
Company for the sale of securities for its own account or for the account of any other person. Further, the Company represents
and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions
and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

5.7 Term. This Agreement shall terminate
upon the earlier of (i) the tenth anniversary of the date of this Agreement or (ii) the date as of which (A) all of the Registrable
Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section
4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (B)
the Holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule 144 (or any similar provision)
under the Securities Act without limitation on the amount of securities sold or the manner of sale and without compliance with
the current public reporting requirements set forth under Rule 144(i)(2). The provisions of Section 3.5 and Article
IV shall survive any termination.

 

[Signature Page Follows]

 

    13

     

    

 

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

 

	CLARIM ACQUISITION CORP.	 
	 	 	 
	By:	 	 
	 	Name: [______________].	 
	 	Title: [______________].	 

 

	HOLDERS:	 
	 	 
	Clarim PARTNERS, LLC	 
	 	 	 
	By: 	 	 
	 	Name: James F. McCann.	 
	 	Title: Managing Member	 

 

 

 

[Signature Page to Registration Rights Agreement]Exhibit 10.6

 

Clarim

Acquisition Corp. 

245

Fifth Avenue, Suite 1500

New

York, NY 10016

 

November

10, 2020

 

Clarim

Partners, LLC

245

Fifth Avenue, Suite 1500

New

York, NY 10016

 

Re: Securities

Subscription Agreement 

 

Ladies

and Gentlemen:

 

This

agreement (the “Agreement”) is entered into on the date hereof by and between Clarim Partners, LLC, a Delaware

limited liability company (the “Subscriber” or “you”), and Clarim Acquisition Corp., a Delaware

corporation (the “Company”, “we” or “us”). Pursuant to the terms hereof,

the Company hereby accepts the offer the Subscriber has made to purchase 7,187,500 shares of Class B common stock, $0.0001 par

value per share (the “Shares”), up to 937,500 of which are subject to forfeiture by you if the underwriters

of the initial public offering (“IPO”) of units (“Units”) of the Company, do not fully exercise

their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s agreements

regarding such Shares are as follows:

 

1.

Purchase of Securities.

 

1.1.

Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges

receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from

the Company, subject to forfeiture, 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 shares (the “Original Certificate”), or effect such

delivery in book-entry form.

 

2.

Representations, Warranties and Agreements.

 

2.1.

Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the 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 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) the formation and governing

documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law,

statute, rule or regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber

is subject.

 

2.1.3.

Organization and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing

under the laws of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated

by this Agreement. Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable

against 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. Subscriber is: (i) sophisticated in financial matters and is able

to evaluate the risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in

the Shares for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below)

and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is

available. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect

its own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective

registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber

is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment

in the 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, Subscriber has relied solely

on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence

investigation and the information furnished pursuant to this paragraph. 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 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 and/or its prospects.

 

2.1.6.

Regulation D Offering. 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 to “accredited investors”

within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7.

Investment Purposes. The Subscriber is purchasing the 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 decide to enter into this Agreement as a result of any general solicitation or general advertising

within the meaning of Rule 502 under the Securities Act.

 

2.1.8.

Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not

involving a public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted

securities” within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates

or book-entries representing the 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 Shares, such Shares may be offered, resold, pledged or otherwise transferred

only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees

that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer,

Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or

an exemption, the Subscriber agrees not to resell the Shares. 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 Shares until one year following consummation of

the initial business combination of the Company, despite technical compliance with the 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 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 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 By Laws of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute,

rule or regulation to which the Company is subject, or 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 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 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 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 seeks to recover damages or to obtain other

relief in connection with any transactions.

 

3.

Forfeiture of Shares.

 

3.1.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters

of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees

of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based

upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and

all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares issuable

upon exercise of any warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the

issued and outstanding Shares immediately following the IPO.

 

3.2.

Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after

such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and

the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3.

Share Certificates. In the event an adjustment to the Original Certificates, if any,

is required pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its

designated agent as soon as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following

which a new certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted

number of Shares held by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable.

Any such adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4.

Waiver of Liquidation Distributions; Redemption Rights. In connection with the 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 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 Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive

any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares 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 dated as of the closing of the IPO by and between Subscriber and the Company,

Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the 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 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. Subscriber acknowledges that the Securities will be subject to lock-up provisions

(the “Lock-up”) contained in the Insider Letter.

 

5.3.

Restrictive Legends. Any certificates representing the 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, IS AVAILABLE.”

 

“THE

SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE

DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.4.

Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration

of an extraordinary dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio,

a recapitalization or a similar transaction affecting the Company’s outstanding Shares 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 Shares subject to this Section 5 or into which such 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 and/or class of Shares subject to this Section 5 and Section 3.

 

5.5.

Registration Rights. Subscriber acknowledges that the 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 rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6.

Other Agreements.

 

6.1.

Further Assurances. 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:

(i) in writing and delivered 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 the Insider Letter and the Registration Rights Agreement, each substantially

in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s 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 a 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, without giving

effect to the conflict of law principles thereof.

 

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 save 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 subdivisions 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 parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an

ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties

hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of

any provision of this Agreement. 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 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.

 

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 Tender of Shares. Subscriber agrees to vote the 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 Shares. Additionally, the Subscriber agrees not to tender any Shares in connection with a 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 attorney’s

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,
	 	 
	 	CLARIM

    ACQUISITION CORP.
	 	 	 
	 	By:	/s/

    James F. McCann
	 	 	Name:	James

    F. McCann
	 	 	Title:	Chief Executive

    Officer

 

	Accepted

    and agreed as of the date first written above.	 
	 	 
	CLARIM

    PARTNERS, LLC	 
	 	 
	By:	/s/

    James F. McCann	 
	 	Name:	James

    F. McCann	 
	 	Title:	Sole Member	 

 

[Signature

Page to Securities Subscription Agreement]

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