Document:

Exhibit 10.3

   

  PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

   

  THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT (as it may from time to time be amended and including all exhibits referenced herein, this “Agreement”),
    dated as of December 8, 2021, is entered into by and between Emerging Markets Horizon Corp., a Cayman Islands exempted company (the “Company”), and EM Horizon Investments, a Cayman Islands 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
    Class A ordinary share 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-l, filed with the U.S. Securities and Exchange Commission (the “SEC”), File Number 333-258393, under the Securities Act of 1933, as amended (the “Securities
          Act”).

   

  WHEREAS, the Purchaser has agreed to purchase an aggregate of 8,000,000 warrants (and up to 1,000,000 additional redeemable warrants if the underwriter in the Public
    Offering exercises its option to purchase additional units 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, at a price
    of $1.50 per warrant, subject to adjustment.

   

  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, 8,000,000 Private Placement Warrants at a price of $1.50 per warrant for an aggregate purchase price of $12,000,000 (the “Purchase Price”). The Purchaser shall pay the Purchase Price by
    wire transfer of immediately available funds in the following amounts: (i) $2,000,000 to the Company at a financial institution to be chosen by the Company, and (ii) $10,000,000 to the trust account maintained by Continental Stock Transfer & Trust
    Company, acting as trustee (the “Trust Account”), in each case 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, subject to the receipt of funds
    pursuant to the immediately prior sentence, 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 option to purchase additional units, 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 (the “Option Closing Date”, and each Option 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 1,000,000 Private Placement Warrants (or, to the extent the option to purchase additional units is not exercised in full, a lesser number of Private Placement
    Warrants in proportion to portion of the option that is exercised) at a price of $1.50 per warrant for an aggregate purchase price of up to $1,500,000 (the “Option Purchase Price”).
    The Purchaser shall pay the Option Purchase Price in accordance with the Company’s wire instruction by wire transfer of immediately available funds to the Trust Account, at least one (1) business day prior to the Option Closing Date. On the Option
    Closing Date, subject to the receipt of funds pursuant to the immediately prior sentence, the Company shall, at its option, 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 on the IPO Closing
    Date, in connection with the Public Offering (the “Warrant Agreement”).

   

  (ii)       On the IPO Closing Date, the Company and the Purchaser shall enter into a registration and shareholder rights agreement (the “Registration
          and Shareholder 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 an exempted company duly incorporated, validly existing and in good standing under the laws of the
    Cayman Islands 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. The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by
    the Company as of the 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 the Closing Date.

   

  
    2

    
      

    

  

   

  (i)        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 the 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 share capital 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 memorandum and articles of association 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, and upon registration in
    the Company’s register of members, the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Private Placement Warrants, the Shares issuable upon
    exercise of the Private Placement Warrants shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, and upon registration in the Company’s register of members, 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. 

   

  
    3

    
      

    

  

   

  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 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. 

   

  
    4

    
      

    

  

   

  (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 Shareholder 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.

   

  (ix)      The Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the Warrant Agreement.

   

  
    5

    
      

    

  

   

  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 the
    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 Shareholder Rights Agreement. The Company shall have entered into the Warrant Agreement, in the form of Exhibit
    A hereto, and the Registration and Shareholder Rights Agreement, in the form of Exhibit B hereto, 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. The Company shall have entered into the Warrant Agreement.

   

  
    6

    
      

    

  

   

  Section 6. 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. Signatures to this Agreement transmitted via facsimile or e-mail shall be valid and effective to bind the party so signing.

   

  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 the
    parties hereto.

   

  [Signature page follows]

   

  
    7

    
      

    

  

   

  IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

   

  	
           

        	
          COMPANY:

        
	
           

        	
           

        	
           

        
	
           

        	
          EMERGING MARKETS HORIZON CORP.

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Riccardo Orcel

        
	
           

        	
           

        	
          Name: Riccardo Orcel

        
	
           

        	
           

        	
          Title:   CEO

        
	
           

        	
           

        	
           

        
	 	 	 
	
           

        	
          PURCHASER:

        
	
           

        	
           

        	
           

        
	
           

        	
          EM HORIZON INVESTMENTS

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Riccardo Orcel

        
	
           

        	
           

        	
          Name: Riccardo Orcel

        
	
           

        	
           

        	
          Title:   Member

        

   

  
     

    
      

    

  

   

  EXHIBIT A

   

  Warrant Agreement

   

  
     

    
      

    

  

   

  EXHIBIT B

   

  Registration and Shareholder Rights AgreementExhibit 10.4

   

  December 8, 2021

   

  Emerging Markets Horizon Corp. 

  30 Ekaterinis Kornarou street, 3rd floor 

  Stovolos 2024

  Nicosia, Cyprus

   

  Re:        Initial Public Offering

   

  Ladies and Gentlemen:

   

  This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
        entered into by and among Emerging Markets Horizon Corp., a Cayman Islands exempted company (the “Company”) and Citigroup Global Markets Inc. and VTB Capital plc, as representatives (the “Representatives”)
    of the several underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public Offering”) of 28,750,000 of the Company’s units (including up to 3,750,000 units that may be
    purchased pursuant to the Underwriters’ option to purchase additional units, the “Units”), each comprising of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”),
    and one-half of one redeemable warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units will be sold in the
    Public Offering pursuant to a registration statement on Form S-l (file number 333-258393) and a prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”).
     Certain capitalized terms used herein are defined in paragraph 1 hereof.

   

  In order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
    consideration, the receipt and sufficiency of which are hereby acknowledged, EM Horizon Investments (the “Sponsor”) and each of the undersigned (each, an “Insider” and, collectively, the “Insiders”)
    hereby agree with the Company as follows:

   

  1.        Definitions. As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination
      with one or more businesses or entities; (ii) “Founder Shares” shall mean the 7,187,500 Class B ordinary shares of the Company,
      par value $0.0001 per share, outstanding prior to the consummation of the Public Offering; (iii) “Private Placement Warrants”
      shall mean the warrants to purchase Ordinary Shares of the Company that will be acquired by the Sponsor for an aggregate purchase price of $12,000,000 (or up to $13,500,000 if the Underwriters exercise their option to purchase additional units), or
      $1.50 per Warrant, in a private placement that shall close simultaneously with the consummation of the Public Offering (including Ordinary Shares issuable upon conversion thereof); (iv) “Public
          Shareholders” shall mean the holders of Ordinary Shares included
      in the Units issued in the Public Offering; (v) “Public Shares” shall mean the Ordinary Shares included in the Units issued in the
      Public Offering; (vi) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public Offering
      and the sale of the Private Placement Warrants shall be deposited; (vii) “Transfer” shall mean the (a) sale of, offer to sell,
      contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to
      or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any
      swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
      announcement of any intention to effect any transaction specified in clause (a) or (b); and (viii) “Charter” shall mean the
      Company’s Amended and Restated Memorandum and Articles of Association, as the same may be amended from time to time.

   

  
     

    
      

    

  

   

  2.           Representation and Warranties.

    

  (a)       The Sponsor and each Insider, with respect to itself, herself or himself, represent and warrant to the Company that it, she or he has the full right and power,
    without violating any agreement to which it, she or he is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement, as applicable, and to serve as
    an officer of the Company and/or a director on the Company’s Board of Director (the “Board”), as applicable, and each Insider hereby consents to being named in the Prospectus, road show and any other materials as an officer and/or
    director of the Company, as applicable.

   

  (b)       Each Insider represents and warrants, with respect to herself or himself, that such Insider’s biographical information furnished to the Company (including any
    such information included in the Prospectus) is true and accurate in all material respects and does not omit any material information with respect to such Insider’s background. The Insider’s questionnaire furnished to the Company is true and accurate
    in all material respects. Each Insider represents and warrants that such Insider is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice
    relating to the offering of securities in any jurisdiction; such Insider has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii)
    pertaining to any dealings in any securities and such Insider is not currently a defendant in any such criminal proceeding; and such Insider has never been suspended or expelled from membership in any securities or commodities exchange or association
    or had a securities or commodities license or registration denied, suspended or revoked.

   

  3.           Business Combination Vote. It is acknowledged and agreed that the Company shall not enter into a
    definitive agreement regarding a proposed Business Combination without the prior consent of the Sponsor. The Sponsor and each Insider, with respect to itself or herself or himself, agrees that if the Company seeks shareholder approval of a proposed
    initial Business Combination, then in connection with such proposed initial Business Combination, it, she or he, as applicable, shall vote all Founder Shares and any Public Shares held by it, her or him, as applicable, in favor of such proposed initial
    Business Combination (including any proposals recommended by the Board in connection with such Business Combination) and not redeem any Public Shares held by it, her or him, as applicable, in connection with such shareholder approval.

   

  
    2

    
      

    

  

   

  4.           Failure to Consummate a Business Combination: Trust Account Waiver.

   

  (a)       The Sponsor and each Insider hereby agree, with respect to itself, herself or himself, that in the event that the Company fails to consummate its initial
    Business Combination within the time period set forth in the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably
    possible but not more than 10 business days thereafter, redeem 100% of the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
    Trust Account and not previously released to the Company to pay income taxes (less up to $100,000 of interest to pay winding up and dissolution expenses), divided by the number of then-outstanding Public Shares, which redemption will completely
    extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s
    remaining shareholders and the Board, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of
    applicable law. The Sponsor and each Insider agree not to propose any amendment to the Charter (i) that would modify the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their shares redeemed in
    connection with an initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete an initial Business Combination within the required time period set forth in the Charter or (ii) with respect to any provision
    relating to the rights of holders of Public Shares unless the Company provides its Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate
    amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes, if any, divided by the number of then-outstanding Public Shares.

   

  (b)       The Sponsor and each Insider, with respect to itself, herself or himself, acknowledges that it, she or he has no right, title,
      interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, her or him, if any. The Sponsor and each of the
      Insiders hereby further waive, with respect to any Founder Shares and Public Shares held by it, her or him, as applicable, any redemption rights it, she or he may have in connection with the consummation of a Business Combination, including,
    without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination or a shareholder vote to approve an amendment to the Charter (i) that would modify the substance or timing of the Company’s
    obligation to provide holders of the Public Shares the right to have their shares redeemed in connection with an initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination
    within the time period set forth in the Charter or (ii) with respect to any provision relating to the rights of holders of Public Shares (although the Sponsor and the Insiders shall be entitled to liquidation rights with respect to any Public Shares
    they hold if the Company fails to consummate a Business Combination within the required time period set forth in the Charter).

   

  
    3

    
      

    

  

   

  5.           Lock-up: Transfer Restrictions.

   

  (a)       The Sponsor and the Insiders agree that they shall not Transfer any Founder Shares (the “Founder Shares Lock-up”) until the earliest of
    (A) one year after the completion of an initial Business Combination and (B) the date following the completion of an initial Business Combination on which the Company completes a liquidation, merger, share exchange or other similar transaction that
    results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the “Founder Shares Lock-up Period”).  Notwithstanding
    the foregoing, if, subsequent to a Business Combination, the closing price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, share consolidations, reorganizations, recapitalizations
    and the like) for any 20 trading days within a 30-trading day period commencing at least 150 days after the Company’s initial Business Combination, the Founder Shares shall be released from the Founder Shares Lock-up.

   

  (b)       The Sponsor and Insiders agree that they shall not effectuate any Transfer of Private Placement Warrants or Ordinary Shares underlying such warrants until 30
    days after the completion of an initial Business Combination.

   

  (c)       Notwithstanding the provisions set forth in paragraphs 5(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and Ordinary
    Shares underlying the Private Placement Warrants are permitted (a) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any
    affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family,
    an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations
    order; (e) by private sales or transfers made in connection with the consummation of a Business Combination at prices no greater than the price at which the Founder Shares, Private Placement Warrants or Ordinary Shares, as applicable, were originally
    purchased; (f) by virtue of the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company for no value for cancellation in connection with the consummation of an initial Business Combination, (h) in the event
    of the Company’s liquidation prior to the completion of a Business Combination; or (i) in the event of completion of a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s Public Shareholders having the
    right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of an initial Business Combination; provided, however, that in the case of clauses (a) through (f) these permitted transferees
    must enter into a written agreement agreeing to be bound by these transfer restrictions.

   

  (d)      During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not,
    without the prior written consent of the Representatives, Transfer any Units, Ordinary Shares, Warrants or any other securities convertible into, or exercisable or exchangeable for, Ordinary Shares held by it, her or him, as applicable, subject to
    certain exceptions enumerated in Section 5(g) of the Underwriting Agreement.

   

  
    4

    
      

    

  

   

  6.           Remedies. The Sponsor and each of the Insiders
      hereby agree and acknowledge that (i) each of the Underwriters and the Company would be irreparably injured in the event of a breach by the Sponsor or such Insider of its, her or his obligations, as applicable under paragraphs 3, 4,
    5, 7, 10 and 11. (ii) monetary damages may not be an adequate remedy
      for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

   

  7.           Payments by the Company. Except as disclosed in
      the Prospectus, neither the Sponsor nor any affiliate of the Sponsor nor any director or officer of the Company nor any affiliate of the officers shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any
      payment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

   

  8.           Director and Officer Liability Insurance. The
      Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and the Insiders shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage
      available for any of the Company’s directors or officers.

   

  9.           Termination. This Letter Agreement shall
      terminate on the earlier of (i) the expiration of the Founder Shares Lock-up Period and (ii) the liquidation of the Company.

   

  10.         Indemnification. In the event of the liquidation
      of the Trust Account upon the failure of the Company to consummate its initial Business Combination within the time period set forth in the Charter, the Sponsor (the “Indemnitor”) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
      incurred in investigating, preparing or defending against any litigation, whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or products sold to the Company
      (except for the Company’s independent auditors) or (ii) any prospective target business with which the Company has discussed entering into a transaction agreement (a “Target”), provided, however, that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that such claims by a third party for services rendered or products sold to the Company or
      a Target do not reduce the amount of funds in the Trust Account to below the lesser of (i) $10.20 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account if less
      than $10.20 per Public Share due to reductions in the value of the trust assets, in each case net of interest that may be withdrawn to pay the Company’s tax obligations, (y) shall not apply to any claims by a third party or Target who executed a
      waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including
      liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of
      the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.

   

  
    5

    
      

    

  

   

  11.         Forfeiture of Founder Shares. To the extent that
      the Underwriters do not exercise their option to purchase additional Units within 45 days from the date of the Prospectus in full (as further described in the Prospectus), the Sponsor agrees to automatically surrender to the Company for no
      consideration, for cancellation at no cost, an aggregate number of Founder Shares so that the number of Founder Shares will equal of 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time.  The Sponsor and
      Insiders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a share capitalization or a share repurchase or other appropriate mechanism, as applicable, with respect to the Founder
      Shares immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time.

   

  12.         Entire Agreement. This Letter Agreement
      constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
      they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by
      a written instrument executed by all parties hereto.

   

  13.         Assignment. No party hereto may assign either this
      Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer
      or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor, each of the Insiders and each of their respective successors, heirs, personal representatives and assigns and permitted transferees.

   

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

   

  15.         Effect of Headings. The paragraph headings herein
      are for convenience only and are not part of this Letter Agreement and shall not affect the interpretation thereof.

   

  16.         Severability. This Letter Agreement shall be deemed
      severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or
      unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

   

  
    6

    
      

    

  

   

  17.         Governing
        Law. This Letter Agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
      of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute
      arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City,
      in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive,
      and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.

   

  18.         Notices. Any notice, consent or request to be
      given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile
      transmission.

   

   

  

  [Signature Page Follows]

  
    7

    
      

    

  

   

  Sincerely,

   

  EM Horizon Investments

   

  	
           

        	
          By:

        	
          /s/ Riccardo Orcel

        
	
           

        	
           

        	
          Name: Riccardo Orcel           

            Title: Managing Member

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  	
           

        	
          /s/ Riccardo Orcel

        
	
           

        	
          Riccardo Orcel

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  	
           

        	
          /s/ Bernard Abdelmalak

        
	
           

        	
          Bernard Abdelmalak

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  	
           

        	
          /s/ Enrique Fernández Aisa

        
	
           

        	
          Enrique Fernández Aisa

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  	
           

        	
          /s/ Konrad Kozik

        
	
           

        	
          Konrad Kozik

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  	
           

        	
          /s/ Herbert Stepic

        
	
           

        	
          Herbert Stepic

        

   

   

  

  Signature Page to Insider Letter

  
     

    
      

    

  

   

  Acknowledged and Agreed:

   

  Emerging Markets Horizon Corp. 

   

  	
          By:

        	
          /s/ Riccardo Orcel

        	
           

        
	
           

        	
          Name: Riccardo Orcel

            Title:   CEO

        	
           

        

     

   

    

  Signature Page to Insider Letter

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}]]