Document:

Exhibit 10.2

OFFICE LEASE 

 

 

THIS LEASE AGREEMENT made this 24th day
of September 2021 (the “Effective Date”), by and between Redmond East Office Park LLC, a Washington Limited Liability Company
(the "Lessor") and MicroVision, Inc., a Washington Corporation (the “Lessee”).

 

		1.	Premises. Lessor does hereby lease to Lessee those certain
premises consisting of approximately 36,062 rentable square foot and depicted in the floor plan attached hereto as Exhibit D (the “Premises”)
in the building located at 18390 NE 68th Street in Redmond, Washington and commonly referred to as the Northwest Technical
Center – Building A-1 (the “Building”) located on the land as legally described on Exhibit A, attached hereto. The Building
hereafter sometimes may be referred to as the “Project”. In addition, the Lessee has the right, in common with other lessees
in the Project and subject to the Rules and Regulations, attached hereto, as Exhibit B, to use of the common areas including the loading
and parking areas.

 

		2.	Term. This Lease shall be for an initial term of one hundred twenty (120) months (the “Initial
Term” and together with the Renewal Term, if properly exercised, the “Lease Term”) commencing on the Commencement Date
(as defined below). Lessor shall deliver the Premises to Lessee on the date which is ninety (90) days following the Effective Date (the
“Delivery Date”) for the purpose of tenant improvement construction, installing telecommunications equipment, wiring, cabling,
and furniture installation/configuration. The “Commencement Date” shall be the date which is ninety (90) days after the Delivery
Date. The parties acknowledge and agree that from the period commencing on the Delivery Date and ending on
the Commencement Date, all terms and conditions of this Lease shall be in effect, except that Lessee shall not be required to pay Base
Rent or Additional Rent hereunder. Lessor and Lessee acknowledge that the target Delivery Date is April 1, 2022 and the target Commencement
Date is July 1, 2022. Lessee and Lessor shall execute a Commencement Memorandum to memorialize the Delivery Date and the Commencement
Date. Lessee is entering into a lease termination (the “Lease Termination”) with its current landlord for separate premises
it is leasing in Redmond, Washington (“Prior Landlord”). Notwithstanding anything to the contrary herein, the parties hereby
acknowledge and agree that the execution by Lessee and the Prior Landlord of the Lease Termination is a condition subsequent to the effectiveness
of this Lease, and accordingly, in the event that Lessee has not reached an agreement with its Prior Landlord regarding the Lease Termination
by October 31, 2021, this Lease shall be deemed void ab initio.

 

		3.	Base Rent. Lessee covenants and agrees to pay Lessor at PO Box 140, Redmond, WA, 98073 or
Property Management portal, or to such other party or at such other place as Lessor may hereafter designate, Base Rent in the amount schedule
below and Additional Rent, as provided in Section 10, in advance without offset or deduction, on or before the first (1st) day of each
month of the Initial Lease Term:

 

	 	Months:	 	Base Rent:	 	 
	 	 	 	 	 	 
	 	Months 01 - 4:	 	$30.90/RSF/year plus Additional Rent	 	
	 	Months 05 - 16:
	 	$30.90/RSF/year plus Additional Rent	 	 
	 	Months 17 - 28:	 	$31.83/RSF/year plus Additional Rent	 	 
	 	Months 29 - 40:	 	$32.78/RSF/year plus Additional Rent	 	 
	 	 	 	 	 	 

 

 

 

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	 	Months 41 - 52:	 	$33.76/RSF/year plus Additional Rent	 	 
	 	Months 53 - 64:	 	$34.78/RSF/year plus Additional Rent	 	 
	 	Months 65 - 76:	 	$35.82/RSF/year plus Additional Rent	 	 
	 	Months 77 - 88:	 	$36.90/RSF/year plus Additional Rent	 	 
	 	Months 89 -100:	 	$38.00/RSF/year plus Additional Rent	 	 
	 	Months 101 - 112:	 	$39.14/RSF/year plus Additional Rent	 	 
	 	Months 113 - 120:	 	$40.32/RSF/year plus Additional Rent	 	 
	 	 	 	 	 

 

 

		4.	Option to Renew.

 

		A.	Exercise of Option to Renew. Lessee
                                            shall have one (1) Option to Renew the Lease for a period of One Hundred and Twenty (120)
                                            Months (the “Renewal Term”). Lessee must exercise its Option to Renew upon providing
                                            Lessor with written notice thereof no sooner than Fifteen (15) Months and no later than Twelve
                                            (12) Months prior to expiration of the Initial Lease Term. If exercised, the Lease terms
                                            during the Renewal Term shall be the same as the original Lease, however Base Rent shall
                                            be adjusted to then current fair market rents for leases or renewals in comparable buildings
                                            in Redmond, WA (the “Fair Market Rent”). The Option to Renew is personal to Lessee.
                                            The Option to Renew shall also pertain to the Expansion Premises (as defined below) if the
                                            Option to Expand is exercised.

 

		B.	Fair Market Rent Determination.
                                            The Fair Market Rent shall be determined as follows:

 

			i.         In the event Lessor and Lessee are unable to agree upon a mutually acceptable Fair Market
                                                                                                                                                                                                                                  Rent by the date that is six (6) months prior to the expiration of the Initial Lease Term (the “Fair Market Deadline”),
                                                                                                                                                                                                                                  Lessor shall, within fifteen (15) days following the Fair Market Deadline, appoint an appraiser to complete an appraisal of the Fair
                                                                                                                                                                                                                                  Market Rent within thirty (30) days after the appointment of Lessor’s appraiser and Lessor shall deliver a copy thereof to
                                                                                                                                                                                                                                  Lessee promptly upon receipt by Lessor (“Lessor Appraisal”).

 

			ii.         If Lessee delivers
notice to Lessor of Lessee’s disapproval of the Lessor Appraisal within fifteen (15) business days after Lessee’s receipt
of the Lessor Appraisal, then Lessee shall have fifteen (15) days to select an appraiser to deliver an additional appraisal of the Fair
Market Rent (the “Lessee Appraisal”). The Lessee Appraisal shall be delivered within thirty (30) days after the appointment
of Lessee’s appraiser and Lessee shall deliver a copy thereof to Lessor promptly upon receipt by Lessee.

 

			iii.         If Lessor delivers
notice to Lessee of Lessor’s disapproval of the Lessee Appraisal within fifteen (15) business days after Lessor’s receipt
of the Lessee Appraisal, then Lessor and Lessee shall each cause their respective appraisers to jointly select a third appraiser, who
shall be an independent appraiser of similar qualifications (the “Joint Appraiser”). If the two appraisers fail to select
a Joint Appraiser within thirty (30) days following the date that Lessee received Lessor’s notice of disapproval of the Lessee
Appraisal, either Lessor or Lessee may petition a court of competent jurisdiction to appoint a third appraiser. The Joint Appraiser shall,
within fifteen (15) days after appointment, select either the Lessor Appraisal or the Lessee Appraisal as the Final Appraisal.

 

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			iv.         Notwithstanding
anything to the contrary herein, the Fair Market Rent for the Renewal Term shall not be less than the Base Rent in place at the expiration
of the Initial Term and shall be either (i) the Fair Market Rent as expressed in either the Lessor Appraisal or the Lessee Appraisal,
or (ii) the Fair Market Rent reflected in the Final Appraisal, as selected by the Joint Appraiser.

 

			v.         All appraisers
appointed hereunder shall be, at the time of their appointment, members of good standing of the American Institute of Real Estate Appraisers.
The party whose appraisal the Joint Appraiser did not select shall be responsible for the cost of the Joint Appraiser’s services,
otherwise, the cost of the Lessor Appraisal shall be borne by Lessor and the cost of the Lessee Appraisal shall be borne by the Lessee.

  

		5.	Security Deposit.

 

		A.	Prepaid Rent Deposit. Lessee has
                                            deposited with Lessor on the date hereof One Hundred Five Thousand Three Hundred Ninety-One
                                            and 20/100 Dollars ($105,391.20) which is to be applied to the Base Rent and Additional Rent
                                            for the month in which the Commencement Date occurs

 

		B.	Security Deposit. Lessee has deposited
                                            with Lessor on the date hereof One Million Two Hundred Fifty One Thousand Three Hundred Fifty
                                            One Dollars ($1,251,351.00) of which $625,675.50 is cash and $625,675.50 is a Letter of Credit
                                            in a form from a financial institution, acceptable to Lessor. Said sum shall be held by Lessor
                                            as security for the faithful performance by Lessee of all the terms, covenants and conditions
                                            of this Lease to be kept and performed by Lessee during the entire Term hereof. If Lessee
                                            materially defaults with respect to any provision of this Lease beyond any applicable notice
                                            and cure periods, including, but not limited to, the provisions relating to the payment of
                                            Rent or other charges or sums due under this Lease, Lessor may (but shall not be required
                                            to) use, apply or retain all or any part of the security deposit for the payment of any Rent
                                            or other charges or sums due under this Lease or any sum in default, or for the payment of
                                            any amount which Lessor may spend or become obligated to spend by reason of Lessee's default,
                                            or to compensate Lessor for any other loss, damage, cost or expense (including attorneys'
                                            fees) which Lessor may suffer or incur by reason of Lessee's default. If any portion of said
                                            security deposit is so used or applied, Lessee shall, within fifteen (15) days after written
                                            demand therefore, deposit a certified or cashier's check or wire transfer with Lessor in
                                            an amount sufficient to restore the security deposit to the amount of the security deposit
                                            immediately prior to such default by Lessee and Lessee's failure to do so shall be a default
                                            under this Lease. Lessor shall not be required to keep the security deposit separate from
                                            its general funds and Lessee shall not be entitled to interest on such deposit. If Lessee
                                            shall fully and faithfully perform every provision of this Lease to be performed by it, the
                                            security deposit or any balance thereof after deduction hereunder by Lessor shall be returned
                                            to Lessee (or, at Lessor's option, to the last assignee of Lessee's interest hereunder) within
                                            thirty (30) days following expiration of the Lease Term; provided, that in the event this
                                            Lease shall be terminated upon the default of the Lessee beyond any applicable notice and
                                            cure period(s), the security deposit shall be retained by Lessor and all of Lessee's interest
                                            therein shall terminate and the security deposit will be 

 

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			applied against the damages suffered by Lessor
                                            by reason of the Lessee's default. In the event of termination of Lessor's interest in this
                                            Lease, Lessor shall transfer said deposit to Lessor's successor in interest. Notwithstanding
                                            the foregoing, provided Lessee has not been in material default of the Lease beyond any applicable
                                            notice and cure periods, then, after Month 12 of the Lease, the Security Deposit shall be
                                            reduced to Nine Hundred Thirty-Eight Thousand Five Hundred Thirteen and No/100 Dollars ($938,513.00)
                                            of which Four Hundred Sixty-Nine Thousand Two Hundred Fifty-Six and 50/100 Dollars ($469,256.50)
                                            shall be cash and the remaining Four Hundred Sixty-Nine Thousand Two Hundred Fifty-Six and
                                            50/100 Dollars ($469,256.50) shall be Letter of Credit. Provided Lessee has not been in material
                                            default of the Lease beyond any applicable notice and cure periods, then, after Month 26
                                            of the Lease, the Security Deposit shall be reduced further to Six Hundred Twenty-Five Thousand
                                            Six Hundred Seventy-Five and No/100 Dollars ($625,675.00) of which Three Hundred Twelve Thousand
                                            Eight Hundred Thirty-Seven and 50/100 Dollars ($312,837.50) shall be cash and Three Hundred
                                            Twelve Thousand Eight Hundred Thirty-Seven and 50/100 Dollars ($312,837.50) shall be Letter
                                            of Credit, which Security Deposit shall remain in place through the balance of the Lease
                                            Term.

 

		6.	Use. Lessee shall use and occupy
                                            the Premises for the purposes of general office, including but not limited to, research and
                                            development and prototype manufacturing of products related to Lessee’s portfolio of
                                            intellectual property and other products and for no other purposes, without prior written
                                            consent of Lessor, and shall comply with all governmental laws, ordinances, regulations,
                                            orders and directives and insurance requirements applicable to Lessee's use of the Premises.
                                            Lessee shall not occupy or use or permit any portion of the Premises to be occupied or used
                                            in such a manner or for any purpose, which would increase the cost of insurance coverage
                                            upon the Premises, the building or the contents thereof.

 

		7.	Rules and Regulations. Lessee
                                            agrees to comply with any Rules and Regulations attached hereto as Exhibit B, any recorded
                                            Covenants, Conditions and Restrictions affecting the Project (provided that a copy thereof
                                            has been provided by Lessor to Lessee), as well as such other reasonable rules and regulations
                                            as may from time to time be adopted by Lessor for the management, good order and safety of
                                            common areas, the building and its Lessee(s) (provided that Lessor shall provide Lessee with
                                            written notice of any such other rules and regulations for the Project which are not attached
                                            to this Lease). Lessee shall be responsible for the compliance with such rules and regulations
                                            by its employees, agents and invitees. Lessor's failure to enforce any of such rules and
                                            regulations against Lessee or any other Lessee shall not be deemed to be a waiver of same.

 

		8.	Maintenance. Lessee agrees by
                                            taking possession that the Premises are in leasable and good condition. Lessee shall, at
                                            its expense, and at all times keep, maintain, and repair the interior Premises, including
                                            but not limited to storefronts, exterior doors and windows, and Lessee division walls in
                                            good condition, repair and order and in accordance with applicable laws, ordinances, rules,
                                            regulations and requirements of government authorities and insurance rating bureaus. Lessee
                                            shall further keep the Premises and adjoining common areas in a neat, clean, safe and sanitary
                                            condition replacing glass and panels in windows and doors of the Premises. Lessor shall keep,
                                            maintain, repair and replace the Building and areas surrounding the Premises in a manner
                                            consistent with other similar buildings within Redmond, Washington, including but not limited
                                            to the Building’s mechanical, electrical, sprinkler and other utility systems (outside
                                            of the Premises) together with connections to utility distribution systems and protect water
                                            drains, gas 

 

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		and
other pipes to prevent freezing or clogging and repair all leaks and damage caused thereby; remove ice and snow from Building entries
and common areas immediately adjacent to the Premises. Lessor shall repair the roof, exterior walls (including doors and windows that
are not a part of the Premises), foundations and common areas and facilities (unless specifically damaged by Lessee), if any, and the
cost thereof shall be shared as provided in Section 9 hereof. Lessor will maintain a preventative maintenance contract providing for
the regular inspection, maintenance and repair of the heating and air conditioning systems with a licensed mechanical contractor the
cost of which will be paid by Lessee per Lessee’s pro-rata share of the Building as Additional Rent.

 

		9.	Utilities and Fees. Lessee agrees
                                            to pay promptly when due all charges for light, heat, water, sewer, garbage, fire protection
                                            and other utilities and services to the Premises, and all license fees and other governmental
                                            charges levied on Lessee's property and the operation of Lessee's business on the Premises.
                                            Lessor shall not be liable for any injury or damages suffered as a result of the interruption
                                            of utilities or services by fire, or other casualty, strike, riot, vandalism, the making
                                            of necessary repairs or improvements, or other causes beyond Lessor's reasonable control,
                                            however Lessor shall use best efforts to assist with the restoration of such utilities in
                                            the event of any outage or cessation of such services so that Lessee’s interruption
                                            of business is kept to a minimum; and provided that to the extent Lessee is unable to reasonably
                                            utilize or occupy the Premises as a result of any interruption, deprivation or reduction
                                            in utilities and services to the Premises, then Lessee shall be entitled to an abatement
                                            in Base Rent and Additional Rent for the period beginning with the date which is three (3)
                                            business days after Lessee delivers notice to Lessor of such interruption, deprivation or
                                            reduction (provided that, such interruption, deprivation or reduction is continuing as of
                                            such third business day) and ending on the date such interruption, deprivation or reduction
                                            is no longer causing Lessee to be deprived of all reasonable use of the Premises or any portion
                                            thereof. During such abatement period, Base Rent and Additional Rent shall abate in the same
                                            ratio as the portion of the Premises rendered unusable as a result of such interruption,
                                            deprivation or reduction. Notwithstanding the foregoing, such
                                            abatement of Base Rent and Additional Rent shall only be available to Tenant in the event
                                            the interruption, deprivation or reduction in utilities and services is (i) solely the result
                                            of a default by Landlord under the Lease, and (ii) is not related to an event outside of
                                            Landlord’s reasonable control. In no event will Landlord be responsible for a loss
                                            or injury to business, however, occurring through or in connection with or incidental to
                                            any failure to furnish any such services.

 

		10.	Monthly Operating Expense Adjustments.
                                            Lessee shall pay as additional monthly rent (“Additional Rent”) the Lessee’s
                                            Share (as defined below) of the following:

 

		A.	Real Estate taxes and assessments, if any.

 

		B.	Usual and necessary costs of operation,
                                            management, maintenance and repair as determined by standard accounting practice, including
                                            without limitation, all utilities and services not metered or charged directly to Lessee,
                                            insurance (including, but not limited to the insurance provided for under Paragraph 16 C
                                            below), painting, upkeep and repair of building exterior, parking, landscaping, and all common
                                            areas and facilities and Permitted Capital Improvements. The items under this clause (B)
                                            shall not include: any of the following: (i) ground rent; (ii) interest and amortization
                                            of funds borrowed by Lessor for items other than capital improvements; (iii) leasing commissions
                                            and advertising and space planning expenses incurred in procuring tenants; (iv) salaries,
                                            wages, or other compensation paid to officers or executives of Lessor in their capacities 

 

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	 as officers and executives; (v) any cost or expense paid or incurred by Lessor to bring the
                                            Premises into compliance with laws; (vi) costs of renovating or otherwise improving, decorating,
                                            painting or redecorating space for tenants or other occupants of the Project; (vii) depreciation
                                            and amortization; (viii) interest and principal payments on loans; (ix) real estate brokerage,
                                            free rent, lease takeover obligations, and other inducements, costs, disbursements and expenses
                                            incurred in connection with leasing space in the Project and advertising and promotional
                                            expenses, legal fees, architectural and engineering (and similar consultant) fees, permits,
                                            licenses and inspection cost and fees in connection, the cost of tenant improvements, build
                                            out allowances, moving expenses and other concessions incurred in connection with leasing
                                            space in the Project; (x) costs of Lessor reimbursed by warranties, service contracts, insurance
                                            proceeds or otherwise; (xi) the cost of alterations, repairs, replacements, additions or
                                            other items of a capital nature except for capital items which are not Permitted Capital
                                            Improvements; (xii) costs, fines and penalties incurred because Lessor intentionally, knowingly
                                            or negligently violated any governmental requirement or law; (xiii) costs incurred because
                                            the Lessor or another tenant violated the terms of any lease; (xiv) general reserves; (xv)
                                            bad debt loss, rent loss or reserve for bad debt loss or rent loss for the Project; (xvi)
                                            costs incurred to test, survey, cleanup, contain, abate, remove or otherwise remedy hazardous
                                            substances or asbestos containing materials; (xvii) Lessor's general corporate overhead;
                                            and (xviii) any other costs and expenses that under generally accepted accounting principles
                                            and practice consistently applied would not be considered normal management, operation, maintenance
                                            and repair costs.  For purposes of this Lease, “Permitted Capital Improvements”
                                            are the cost of capital improvements or other costs incurred in connection with the Project
                                            (A) which are intended to effect economies in the operation or maintenance of the Project,
                                            or to reduce current or future operating costs, (B) to enhance the safety or security of
                                            the Project or its occupants provided such safety and security measures are generally being
                                            implemented by other landlords of office buildings in Redmond, (C) which are incurred for
                                            replacements, modifications or additions of nonstructural items located in the common areas
                                            required to keep the common areas in good order or condition; provided, however, that any
                                            capital expenditure shall be amortized in accordance with sound real estate management and
                                            accounting practices consistently applied by other landlords of office buildings in Redmond.

  

		C.	A Management fee equal to three percent
                                            (3%) of Lessee's monthly rent, including Base Rent and any Additional Rent.

 

Lessor shall from time to time estimate
and provide written notice to Lessee of its monthly expense based upon existing or expected costs. Lessee shall pay such monthly estimated
amount on or before the first day of each month. Lessor, annually and no later than six (6) months after the end of any calendar year
shall compute Lessee's actual expenses. Any overpayment shall be applied as a credit to Lessee against future payments of Additional
Rent. Lessee shall pay any deficiency to Lessor within thirty (30) days after the date of Lessor's statement. Lessor's records showing
expenditures made for such expenses shall be available for Lessee's inspection at any reasonable time. For purposes of this Lease, “Lessee’s
Share” means 100%.

 

Lessor shall make the determination of
actual costs and estimated costs allocable to the Premises. Lessor or its agent shall keep records showing all expenditures made for
the items enumerated above, which records shall be available for inspection and review by Lessee. The Lessee shall have the right, at
reasonable times and upon reasonable prior notice to the Lessor to review the

 

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Lessor’s records relating to the actual costs and
estimated costs allocable to the Premises for a particular Lease Year, which review must be conducted within six (6) months after Lessee’s
receipt of the statement of actual costs allocable to the Premises for that particular Lease Year. If such review is not conducted within
such six (6) month period, then the matters set forth in the statement of actual costs allocable to the Premises for that particular
Lease Year shall be deemed conclusive. The Lessee shall pay the costs and expenses of such review unless such review reveals that the
Lessor has overstated the Operating Expenses for the Lease Year in question by an amount equal to five percent (5%) or more for that
particular Lease Year in which event the Lessor shall pay the actual costs incurred by Lessee in the performance of such review. For
purposes of this Lease, “Lease Year” means a period of twelve (12) full and consecutive calendar months; provided, however,
the initial Lease Year shall begin on the Commencement Date and end on the last day of the month preceding the first anniversary of the
Commencement Date and if the Commencement Date does not occur on the first day of a calendar month, then the initial Lease Year shall
end on the last day of the month which contains the first anniversary thereof. Each succeeding Lease Year shall begin upon the termination
of the preceding Lease Year and shall be for a period of twelve (12) full and consecutive calendar months thereafter.

 

		11.	Lessor’s Reservations.
                                            Lessor reserves the right without liability to Lessee upon no less than two (2) business
                                            days’ prior written notice to Lessee: (a) to inspect the Premises, and to show them
                                            to prospective Lessees (during the last eighteen (18) months of the Lease), partners or lenders
                                            and if they are vacated, to prepare them for re-occupancy; (b) to retain at all times and
                                            to use in appropriate instances keys to doors within and into the Premises; (c) to make repairs,
                                            alterations, additions or improvements, whether structural or otherwise, in or about the
                                            building, and for such purposes to enter upon the Premises and during the continuance of
                                            any work, to close common areas, all without affecting any of Lessee's obligations hereunder,
                                            so long as the Premises are reasonably accessible and Lessor shall not unreasonably interfere
                                            with Lessee’s use or enjoyment of the Premises; and (d) generally to perform any act
                                            relating to the safety, protection and preservation of the Premises or Building.

 

		12.	Tenant Improvements. As of the
                                            Commencement Date, Lessor shall deliver the Premises in as-is condition. Lessor shall provide
                                            Lessee with a tenant improvement allowance in the maximum aggregate amount of Fifteen and
                                            No/100 Dollars per rentable square foot ($15.00/RSF) (the “TI Allowance”) to
                                            be used to pay for all actual, out-of-pockets costs and expenses incurred by Lessor in connection
                                            with the design, permitting and construction of the Improvements (as defined in Exhibit D).
                                            The disbursement of the TI Allowance and construction of the Improvements are outlined in
                                            Exhibit D, “Work Letter”. Lessee shall carry the contract with a general contractor,
                                            which general contractor shall be mutually selected by Lessor and Lessee. Lessor shall receive
                                            a supervisory/construction management fee equal to three percent (3.0%) of the total actual,
                                            out-of-pocket hard costs for the construction of the Improvements, which fee shall be funded
                                            from the TI Allowance. In the event the actual costs of the Improvements exceed the TI Allowance,
                                            Lessee shall be responsible for such excess amounts. In the event the actual costs of the
                                            Improvements are less than the TI Allowance, Lessee shall have up to twelve (12) months from
                                            Commencement Date to use the remaining unused balance of the TI Allowance on other “Eligible
                                            Expenses” (as defined below). “Eligible Expenses” mean all hard construction
                                            costs which may be incurred by Lessee for alterations or improvements to the Premises performed
                                            by or on behalf of Lessee.

 

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		13.	Assignment and Subletting. Lessee
                                            shall not either voluntarily or by operation of law assign, transfer, convey or encumber
                                            this Lease or any interest under it, or sublet its right to occupy or use all or any portion
                                            of the Premises without Lessor's prior written consent which consent shall not be unreasonably
                                            withheld, conditioned or delayed. Among the criteria to be used by Lessor in evaluating a
                                            request for assignment or subletting will be (i) the proposed use of the Premises; (ii) the
                                            anticipated impact, if any, on parking; or (iii) the financial capacity of the assignee/sublessee
                                            to perform the obligations under this Lease. Lessor reserves the right to recapture the Premises
                                            or applicable portion thereof in lieu of giving its consent by notice given to Lessee within
                                            twenty (20) days after receipt of Lessee's written request for assignment or subletting.
                                            Such recapture shall terminate this Lease as to the applicable space effective on the prospective
                                            date of assignment or subletting, which shall be the last day of a calendar month and not
                                            earlier than sixty (60) days after receipt of Lessee's request hereunder. In the event that
                                            Lessor shall not elect to recapture and shall thereafter give its consent, Lessee shall pay
                                            Lessor a reasonable fee, not to exceed One Thousand and No/100 Dollars ($1,000.00) to reimburse
                                            Lessor for processing costs incurred in connection with such consent. Lessor's consent shall
                                            not release or discharge Lessee from future liability under this Lease and shall not waive
                                            Lessor's right to consent to any future assignment or sublease. Any assignment or subletting
                                            without Lessor's consent shall be void and shall, at Lessor's option, constitute a default
                                            under this Lease. A transfer by the present majority shareholders of ownership or control
                                            of a majority of the voting stock of a corporate Lessee, or the change in form of entity
                                            of the Lessee, shall be deemed an assignment. Notwithstanding anything herein to the contrary,
                                            Lessee may, without Lessor’s prior consent assign its rights and obligations under
                                            this Lease or sublet all or a portion of the Premises to: (i) a subsidiary, parent, affiliate,
                                            division or entity controlled by or under common control with Lessee, (ii) a successor entity
                                            to Lessee by merger, consolidation, non-bankruptcy reorganization or governmental action,
                                            or (iii) a purchaser of substantially all of the assets or equity interests in Lessee, in
                                            which case the provisions of this Section 13 shall not apply to such transfer, assignment
                                            or sublease; provided that any such transfer is for a legitimate business purpose and is
                                            not undergone as a subterfuge to avoid the obligations of this Section 13.

 

			The Lessee
shall not assign its interest in or under this Lease for security purposes, nor shall the Lessee grant any security interest, lien or
encumbrance against its interest in this Lease or in or to any property in or affixed to the Premises without the prior written consent
of the Lessor, which consent shall be granted, withheld or conditioned in Lessor’s sole discretion. In no event shall the Lessee
grant, or allow to exist, any security interest in, or lien or encumbrance against the fee title to the Premises, the Building in which
the Premises is located or the real property on which the building is located.

 

		14.	Alterations. After obtaining
                                            the prior written consent of Lessor, which consent shall not be unreasonably withheld, conditioned
                                            or delayed, Lessee may make alterations, additions and improvements in said Premises (so
                                            long as such alterations, additions or improvements are not structural in nature and not
                                            visible from the exterior of the Premises) at its sole cost and expense. Lessee agrees to
                                            save Lessor harmless from any damage, loss, or expense arising there from and to comply with
                                            all laws, ordinances, rules and regulations. Upon termination of this Lease and unless otherwise
                                            agreed to by the parties, all alterations, additions and improvements made in, to or on the
                                            Premises (including without limitation all electrical, lighting, plumbing, heating, air conditioning,
                                            and communications equipment and systems, doors, windows, partitions, drapery, carpeting,
                                            shelving, counters, and physically attached fixtures unless excluded by written agreement
                                            annexed hereto), shall remain upon and be surrendered as a part of the Premises; provided
                                            however, upon Lessor's written request (which written request shall be made at the time Lessor
                                            consented to such alterations or improvements), Lessee shall remove its communications cabling
                                            and those additions, alterations, or improvements as may be specified by Lessor upon the 

 

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			expiration of the Lease Term, and repair and
                                            restore the Premises to is original condition (with all of Landlord’s Build and other
                                            Lessor improvements completed) at Lessee's sole cost and expense prior to expiration of the
                                            Lease Term.

 

		15.	Liens. Lessee shall keep the
                                            Premises free from any liens arising out of any work performed, materials furnished, equipment
                                            supplied, or obligations incurred by or on behalf of Lessee. No work performed, material
                                            furnished, equipment supplied or obligations incurred by or on behalf of Lessee shall be
                                            deemed to be for the immediate use and benefit of Lessor so that no mechanic's lien or other
                                            lien shall be allowed against Lessor's estate in the premises. Lessee shall provide, at Lessee's
                                            own cost, waivers of lien signed by any party (including the Lessee) who performs work, furnishes
                                            materials, or supplies equipment to the Premises. Lessor may require, at Lessee's sole cost
                                            and expense, a lien release and completion bond in an amount equal to either the actual contract
                                            price or one and one-half times the estimated cost of any improvements, additions or alterations
                                            in the Premises which Lessee desires to make, to insure Lessor against any liability for
                                            lien and to insure completion of the work.

 

		16.	Signs. Lessor, at Lessor’s
                                            sole expense, shall provide directory and suite signage. All signs or symbols placed by Lessee
                                            in the windows and doors of the Premises, or upon any exterior part of the building, shall
                                            be subject to city of Redmond and Lessor's prior written approval. Prior to termination of
                                            this Lease, Lessee will remove all signs placed by it upon the Premises, and will repair
                                            any damages caused by installation and removal. Obtaining approvals will be Lessee’s
                                            responsibility. Notwithstanding the foregoing and subject to Lessor’s prior written
                                            approval, which shall not be unreasonably withheld, conditioned or delayed and subject to
                                            compliance with all applicable City of Redmond codes, Lessee shall have the right, at Lessee’s
                                            expense, to install an exterior sign on the Building’s façade in a mutually
                                            agreeable location which shall remain on the Premises which shall be removed by Lessee, at
                                            Lessee’s expense, prior to the expiration of the Lease Term.

 

		17.	Insurance.

 

		A.	Lessee shall pay for and maintain, during
                                            the entire Lease Term, the following policies of insurance:

 

		(i)	Commercial general liability insurance,
                                            including products, completed operations coverage and auto liability insurance covering Lessee's
                                            operations and the Premises with limits of not less than $2,000,000 per occurrence.

 

		(ii)	Special cause of loss "all risk"
                                            perils and sprinkler leakage property insurance upon all building improvements and alterations
                                            on the Premises for which Lessee is responsible and upon Lessee's property in the amount
                                            of one hundred percent (100%) full replacement cost. The policy shall include Lessor and
                                            Lessor’s mortgagee, if any, as additional insureds, as their interests may appear,
                                            with a loss payable clause in favor of Lessor and Lessor’s mortgagee to the extent
                                            of their interest in the property.

 

		B.	Each policy provided by Lessee shall provide
                                            that it shall not be subject to cancellation or material change without at least thirty (30)
                                            days prior written notice to the Lessor. Lessee shall furnish Lessor, prior to commencement
                                            of the Term, with insurance certificates, including Lessor as additional insured.

 

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		C.	Lessor shall maintain property insurance
                                            during the entire Lease Term in the amount of one hundred percent (100%) full replacement
                                            value of the Building and Lessor’s improvements. Lessor’s coverage may include
                                            the perils of Special cause of loss (“all risk”) and earthquake.

 

		18.	Indemnity Against Liability for Loss
                                            or Damage.

 

		A.	Lessee assumes all liability for and shall
                                            indemnify, hold harmless and defend Lessor from and against all loss, damage or expense which
                                            the Lessor may sustain or incur, and against any and all claims, demands, suits and actions
                                            whatsoever, including expense of investigation and litigation (“Claims”), on
                                            account of injury to or death of persons, including without limitation employees of Lessor,
                                            employees of Lessee or its affiliated companies or on account of damage to or destruction
                                            of property, including without limitation property owned by and property in the care, custody
                                            or control of Lessor during the Lease Term, due to or arising in any manner from:

 

		(i)	The acts or negligence of Lessee or any
                                            contractor, subcontractor, or agent of Lessee or their respective employees;

 

		(ii)	The condition, use or operation of the
                                            Premises and/or materials or substances used by Lessee or any of its contractors, subcontractors
                                            or agents of Lessee or by their respective employees, regardless of whether or not furnished
                                            by Lessor under this Lease or otherwise;

 

		(iii)	Any damage or injury to persons or property
                                            arising out of Lessee's breach or this Lease, including, but not limited to, obligations
                                            of Lessee under Section 8, Maintenance.

 

		B.	Lessor shall have no liability to Lessee
                                            as a result of loss or damage to Lessee’s property or for death or bodily injury caused
                                            by the acts or omissions of other Lessees in the project or by third parties (including criminal
                                            acts).

 

		C.	Lessee shall not be obligated to indemnify
                                            Lessor for the portion of any claim or liability caused by or arising from the act, or negligence
                                            of Lessor. Lessor shall indemnify, defend and hold harmless Lessee from and against any and
                                            all Claims, arising in whole or in part out of (a) any act, omission or negligence of Lessor,
                                            or (b) any breach or default under this Lease by Lessor.

 

		D.	It is mutually understood and agreed that
                                            the assumption of liabilities and indemnification provided for in this Section 18 shall survive
                                            any termination of this Lease.

 

		19.	Damage or Destruction. If any
                                            of the Premises, or a substantial part of the building in which the Premises are located,
                                            shall be damaged or destroyed by fire or other insured casualty, and repair of the damage
                                            cannot be completed within one hundred twenty (120) days, following receipt by Lessor of
                                            actual notice of such damage or destruction, Lessor shall have the option either (a) to repair
                                            or rebuild within a reasonable time utilizing the insurance proceeds to effect such repair,
                                            or (b) not to repair or rebuild, and to cancel this Lease on sixty (60) days’ prior
                                            written notice. If Lessor fails to give Lessee written notice of its election within sixty
                                            (60) days from the date of

 

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			damage, or if the restoration of the Premises cannot
be completed within one hundred twenty (120) days from date of notice, Lessee may cancel this Lease at its option on fifteen (15) days’
prior written notice. During the period of untenantability, all rent shall abate in the same ratio as the portion of the Premises rendered
untenantable bears to the whole of the Premises; provided that if the damage is due to the fault or neglect of Lessee, there shall be
no abatement of rent.

 

 

If the Premises or the building in which
the Premises are located shall be damaged or destroyed by fire or other insured casualty, and repair of the damage can be completed within
one hundred twenty (120) days, Lessor shall repair or rebuild within a reasonable time utilizing the insurance proceeds to effect such
repair. During the period of untenantability, all rent shall abate in the same ratio as the portion of the Premises rendered untenantable
bears to the whole of the Premises; provided that if the damage is due to the fault or neglect of Lessee, there shall be no abatement
of rent.

 

If any part of the Premises or the Building
in which the Premises are located shall be damaged or destroyed by an uninsured casualty, Lessor shall have the option either (a) to
repair or rebuild within a reasonable time, or (b) not to repair or rebuild, and to cancel this Lease on thirty (30) days’ prior
written notice. In the event of cancellation by Lessor as a result of an uninsured casualty, Lessee shall have the right, in its sole
and absolute discretion, within five (5) days following Lessor’s notice of cancellation, to override such cancellation by agreeing
to repair the damage at Lessee’s sole cost and expense. In such event, the Lessee shall repair or rebuild within a reasonable time
following the damage or destruction.

 

		20.	Eminent Domain. If the whole
                                            of the Premises shall be taken by any public authority under the power of eminent domain,
                                            or purchased by the condemnor in lieu thereof, then the term of this Lease shall cease as
                                            of the date possession is taken by such public authority. If only part of the Premises shall
                                            be so taken, the Lease shall terminate only as to the portion taken, and shall continue in
                                            full force and effect as to the remainder of said Premises, and the monthly rent shall be
                                            reduced proportionately; provided, however, if the remainder of the Premises cannot be made
                                            tenantable for the purposes for which Lessee has been using the Premises or if more than
                                            twenty-five percent (25%) of the rentable square footage of the Premises shall be so taken,
                                            then either party, by written notice to the other, given at least thirty (30) days prior
                                            to the date that possession must be surrendered to the public authority, may terminate this
                                            Lease effective as of such surrender of possession. If any part of the building other than
                                            the Premises shall be so taken so as to render in Lessor's opinion the termination of this
                                            Lease beneficial to the remaining portion of the building, Lessor shall have the right within
                                            sixty (60) days of said taking to terminate this Lease upon thirty (30) days written notice
                                            to Lessee. In the event of any taking, whether whole or partial, Lessor shall be entitled
                                            to all awards, settlements, or compensation which may be given for the land and buildings.
                                            Lessee shall have no claim against Lessor for the value of any unexpired term of this Lease.
                                            Lessee shall have the right to seek an independent and separate award from the condemning
                                            authority so long as such award does not diminish the amount of the award payable to Lessor.

 

		21.	Insolvency. If Lessee shall
                                            be declared insolvent or bankrupt, or if Lessee's leasehold interest herein shall be levied
                                            upon or seized under writ of any court of law, or if a trustee, receiver or assignee be appointed
                                            for the property of Lessee, whether under operation of State or Federal statutes, then, to
                                            the extent permitted by law, Lessor may, at its option, immediately, without notice (notice
                                            being expressly waived), terminate this Lease and take possession of said Premises.

 

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		22.	Default and Re-Entry. If Lessee
                                            fails to pay rent or other charges provided for herein within three (3) days after receipt
                                            of written notice thereof or if Lessee fails to observe or perform any covenant or condition
                                            of this Lease, other than the making of payments, where such failure shall continue for a
                                            period of thirty (30) days after written notice from Lessor or such additional time as is
                                            reasonably needed to cure the default, provided that, Lessee shall diligently and continuously
                                            pursue the cure, then Lessor may, at its option, without further notice or demand:

 

		A.	Cure such breach for the account and at
                                            the expense of Lessee (including entry upon the Premises to make repairs on behalf of the
                                            Lessee where Lessee has failed to make such repairs as required under this Lease) and such
                                            expense shall be deemed additional rent due on the first of the following month; or

 

		B.	Re-enter the Premises, remove all persons therefrom, take possession of the Premises and remove all personal property therein at Lessee's risk and expense and (1) terminate this Lease, or (2) without terminating the Lease or in any way affecting the rights and remedies of Lessor or the obligations of Lessee, make an honest and reasonable effort to re-let the whole or any part of the Premises for Lessee’s account upon such terms and conditions as Lessor may deem advisable. In either event, any moneys received from Lessee and any deposit or other amounts held by Lessor may first be applied by Lessor to any damages suffered by Lessor as a result of such default, including without limitation, costs and expenses incurred on re-entry and re-letting, any unamortized Lessee improvements and commissions, cleaning, necessary repairs, restoration and alteration, and any commissions incurred on re-letting, and the balance of such amounts may be applied toward payment of other sums due to Lessor hereunder. In the event the Premises are re-let for Lessee's account, Lessee shall pay to Lessor monthly any deficiency; however, Lessor shall not be required to pay any excess to Lessee. Upon termination of this Lease or of Lessee’s right to possession, Lessor reserves and has the right to recover damages arising from the breach of the Lease from Lessee including, but not limited to: (1) The worth of the unpaid rent and other charges provided for herein that had been earned at the time of such termination; (2) The worth of the amount of the unpaid rent and other charges provided for herein that would have been earned for the balance of the term of this Lease after the date of such termination; and (3) Any other amount, including court, attorney and collection costs, necessary to compensate Lessor. “The Worth,” as used in Section (1) is to be calculated allowing interest at 18% per year (or, if applicable, at such lower rate as may represent the highest legal limit allowed in the State of Washington). “The worth” as used for Section (2) is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of termination. The above remedies of Lessor are cumulative and in addition to any other remedies now or hereafter allowed by law or esewhere provided for in this Lease.

                                                                                

		C.	Lessor
                                            shall not be liable for damages by reason of the re-entry described in paragraph B, above.

 

		23.	Removal of Property. Any property
                                            of Lessee removed by Lessor in accordance with Section 22 above may be stored, sold, or disposed
                                            of by Lessor without any additional notice to Lessee at the sole risk and expense of Lessee
                                            and without any further responsibility of Lessor. Proceeds therefrom may be applied by Lessor
                                            upon any indebtedness due from Lessee to Lessor. Lessee waives all claims for damages that
                                            may be caused by Lessor re-entering the Premises and removing or disposing of said property
                                            as herein provided.

 

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		24.	Costs and Attorneys’ Fees.
                                            In the event either party shall commence legal action to enforce any provision of this Lease,
                                            the court shall award to the prevailing party all reasonable attorneys' fees and all costs
                                            incurred in connection therewith, including fees and costs on appeal. Any action relating
                                            to this Lease shall be brought in the County in which the Premises are located or, at Lessor's
                                            election, in King County, Washington.

 

		25.	Subrogation Waiver. Lessor and
                                            Lessee each herewith and hereby release and relieve the other and waive its entire right
                                            of recovery against the other for loss or damage arising out of or incident to the perils
                                            of fire, explosion or any other perils described in the "all risk" insurance and
                                            the events covered under the property insurance coverages required under this Lease, whether
                                            due to the negligence of either party, their agents, employees or otherwise. Each party shall
                                            obtain from its respective insurer under each insurance policy that it maintains a waiver
                                            of all rights of subrogation, which the insurer may have against the other party for claims
                                            that are released under this Section 25.

 

		26.	Holding Over. Unless otherwise
                                            agreed to by Lessor, if Lessee, with the express consent of Lessor, shall hold over after
                                            the expiration of the Lease Term, Lessee shall remain bound by all the covenants and agreements
                                            herein, except that (a) the tenancy shall be from month-to-month and (b) the monthly Base
                                            Rent to be paid by Lessee shall be determined by multiplying the monthly Base Rent in effect
                                            immediately preceding such expiration times 150%. If Lessee holds possession of the Premises
                                            after the expiration of the Lease Term without the express written consent of Lessor, Lessee
                                            shall remain bound by all the covenants and agreements herein, except that (a) the tenancy
                                            shall be from month-to-month and (b) the monthly Base Rent to be paid by Lessee shall be
                                            twice the monthly rent in effect immediately preceding such expiration. Any such tenancy
                                            may be terminated with twenty (20) days prior notice as provided by Washington State law.

 

In the event of any unauthorized holding
over, Lessee shall also indemnify and hold Lessor harmless from and against all liability, losses, claims, causes of action, damages,
costs and expenses (including without limitation attorney fees) resulting from Lessee’s failure to surrender the Premises, including
without limitation claims made by succeeding lessees resulting from Lessee’s failure to surrender the Premises.

 

Lessee’s obligations under this Section
26 shall survive the expiration or termination of this Lease.

 

		27.	Subordination and Attornment; Mortgage
                                            Protection.

 

		A.	Subordination-Notice to Mortgagee.
                                            At the request of Lessor, Lessee shall promptly execute, acknowledge and deliver, all instruments
                                            which may be required to subordinate this Lease to any existing or future mortgages, deeds
                                            of trust and/or other security documents on or encumbering the Premises or on the leasehold
                                            interest held by Lessor, and to any extensions, renewals, or replacements thereof, provided
                                            that Lessee shall have the right to request that any holder or beneficiary of any mortgage,
                                            deed of trust, ground lease, vendor’s lien or similar instrument execute a non-disturbance
                                            agreement in favor of Lessee on the commercially reasonable standard form utilized by such
                                            lender or ground 

 

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			lessor
(subject to Lessee’s reasonable comments), and Lessor shall obtain such executed non-disturbance agreement if so requested by Lessee
as a condition to Lessee’s subordination to any such party.

 

		B.	Lessee’s Certificate. Either
                                            party shall, at any time and from time to time, within five (5) business days after written
                                            notice from the other party execute, acknowledge and deliver to Lessor a statement in writing
                                            (a) certifying that this Lease is unmodified and in full force and effect (or, if modified,
                                            stating the nature of such modification and certifying that this Lease as so modified is
                                            in full force and effect), and the date to which the rental and other charges are paid in
                                            advance, if any; and (b) acknowledging that there are not, to such party's knowledge, any
                                            uncured defaults on the part of the Lessor or Lessee hereunder, or specifying such defaults
                                            if any are claimed; and (c) setting forth the date of commencement of rents and expiration
                                            of the Lease Term hereof; and, (d) such other information as such party shall reasonably
                                            require. Any prospective purchaser, lender, assignee, sublease, or encumbrancer of all or
                                            any portion of the Premises of which the Premises are a part or any affiliate of either party
                                            may rely upon any such statement.

 

		C.	Mortgagee Protection Clause. Lessee
                                            agrees to use reasonable efforts to notify any mortgagee and/or trust deed holders, by registered
                                            mail, with a copy of any notice of default served upon the Lessor, provided that prior to
                                            such notice Lessee has been notified in writing (by way of Notice of Assignment of Rents
                                            and Lease, or otherwise) of the addresses of such mortgagees and/or trust deed holders. Lessee
                                            further agrees that if Lessor shall have failed to cure such default, then the mortgagees
                                            and/or trust deed holders have thirty (30) days within which to cure such default or if such
                                            default cannot be cured within that time, then such additional times as may be necessary
                                            if within such thirty (30) days any mortgagee and/or trust deed holder has commenced and
                                            is diligently pursuing the remedies necessary to cure such default (including but not limited
                                            to commencement of foreclosure proceedings if necessary to affect such cure), in which event
                                            this Lease shall not be terminated if such remedies are being so diligently pursued.

 

		28.	Surrender of Possession. Lessee
                                            shall, prior to the termination of this Lease or of Lessee's right to possession, remove
                                            from the Premises all personal property which Lessee is entitled to remove and those alterations,
                                            additions, improvements (excepting the Landlord Build or any subsequent alterations or improvements
                                            that Lessor consented to without explicitly requiring removal thereof) or signs which may
                                            be required by Lessor to be removed, including, at Lessor’s request, cabling, pursuant
                                            to Sections 12 and 14 above, and shall repair or pay for all damage to the Premises caused
                                            by such removal. All such property remaining and every interest of Lessee in the same shall
                                            be conclusively presumed to have been conveyed by Lessee to Lessor under this Lease as a
                                            bill of sale, without compensation, allowance, or credit to Lessee. Lessee shall upon termination
                                            of this Lease or of Lessee's right of possession, deliver all keys to Lessor and peacefully
                                            quit and surrender the Premises without notice, neat and clean, and in as good condition
                                            as when Lessee took possession, except for reasonable wear and tear as determined by Lessor
                                            and with all components and systems in good working order and repair.

 

		29.	Late Payment and Interest. If
                                            any amount due from Lessee is not received in the office of Lessor on or before the third
                                            (3rd) business day after the date upon which such amount is due and payable, a late charge
                                            of five percent (5%) of said amount shall become immediately due and payable, which late
                                            charge Lessor and Lessee agree represents a fair and reasonable estimate of the processing
                                            and accounting costs that Lessor will incur by reason of such late payment. All 

 

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			past due amounts owing to Lessor under this Lease,
including rent, shall be assessed interest at an annual percentage rate of twelve percent (12%) from the third (3rd) business day after
the date due until paid. Notwithstanding the foregoing, Lessor shall waive such late charge once per calendar year provided that Lessee
timely pays such amount owed within three (3) business days after receiving Lessor’s written notice.

 

		30.	Notice. Any notice, communication
                                            or remittance required or permitted by this Lease by either party to the other shall be deemed
                                            given, served or delivered, in writing, delivered personally or by courier or by telephonic
                                            facsimile transmission with automatic confirmation, addressed to the Lessor at the address
                                            specified for the payment of rent under Paragraph 3 of this Lease or to Lessee at the Premises
                                            or to such other address as either party may designate to the other in writing from time
                                            to time.

 

		31.	No Waiver of Covenants. Time
                                            is of the essence of this Lease. Any waiver by either party of any breach hereof by the other
                                            shall not be considered a waiver of any future similar or other breach.

 

		32.	Entire Agreement. It is expressly
                                            understood and agreed by Lessor and Lessee that there are no promises, agreements, conditions,
                                            understandings, inducements, warranties, or representations, oral or written, express or
                                            implied, between them, other than as herein set forth and that this Lease shall not be modified
                                            in any manner except by an instrument in writing executed by the parties.

 

		33.	Binding on Heirs, Successors and Assigns.
                                            The covenants and agreements of this Lease shall be binding upon the heirs, executors, administrators,
                                            successors and assigns of both parties hereto, except as hereinabove provided.

 

		34.	Lessor’s Assignment. It
                                            is fully understood that Lessor shall have the full right to assign this Lease, without any
                                            notice to Lessee, thereby relieving Lessor from all and any liabilities; provided however,
                                            that the assignee assumes all Lessor’s responsibilities as set forth in this Lease.

 

35.Environmental. See Rider One
attached and incorporated into this Lease by this reference.

 

36.       Brokers;
Agency Disclosure; Brokerage Relationships.

 

		A.	Payment
                                            of Brokers. Lessor shall pay the commissions due those real estate brokers or agents
                                            named below. Lessee agrees to indemnify and hold Lessor
                                            harmless from all liabilities and claims for brokerage commissions or finder's fees growing
                                            out of agreements which Lessee has made with brokers or finders, other than the market standard
                                            commission which Lessor has agreed to pay to Lessor’s broker, Broderick Group, Inc.
                                            per separate agreement.

 

		B.	Agency Disclosure. At the signing
                                            of this Lease, the Lessor’s agents, Paul Jerue, Tyler Slone and Eric Meussner, of Broderick
                                            Group Inc., represented Lessor (the “Lessor’s Agents”).
                                            Lessee’s Leasing Agents are Eric Lonergan and Brian Kelly of Savills Inc. (the “Lessee’s
                                            Agents”). Each party signing this document confirms that the prior oral and/or written
                                            disclosure of agency was provided to him/her in this transaction. (As required by WAC 308-124D-040).

 

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		37.	Force Majeure. Lessor nor Lessee
                                            shall have liability to the other party on account of the following acts of “force
                                            majeure,” which shall include (a) the inability to fulfill, or delay in fulfilling,
                                            any obligations (excepting Lessee’s monetary obligations) under this Lease by reason
                                            of strike, lockout, other labor trouble, dispute or disturbance; (b) governmental regulation,
                                            moratorium, action, inaction, preemption or priorities or other controls, including delays
                                            in receipt of permits; (c) shortages of fuel, supplies or labor; (d) any failure or defect
                                            in the supply, quantity or character of electricity or water furnished to the Premises by
                                            reason of any requirement, act or omission of the public utility or others furnishing the
                                            Building with electricity or water; or (e) for any other reason, whether similar or dissimilar
                                            to the above, or for act of God, beyond Lessor’s or Lessee’s reasonable control.
                                            If this Lease specifies a time period for performance of an obligation, that time period
                                            shall be extended by the period of any delay in Lessor’s performance caused by any
                                            of the events of force majeure described herein.

 

		38.	Limitation of Liability. The
                                            recourse of Lessee to recover any claim against Lessor arising under this Lease shall be
                                            limited to Lessor’s interest in the Building and to the rents, issues and profits from
                                            the Building. Lessee waives any and all recourse for any such liability against Lessor’s
                                            members, partners, shareholders, trustees or beneficiaries, or any property or assets of
                                            Lessor other than the Building.

 

		40.	Governing Law. This Lease shall be
                                            interpreted under the laws of the State of Washington without regard to principles of conflicts
                                            of law.

 

		41.	Counterparts.
                                            This Lease may be executed in one or more counterparts,
                                            all of which shall be considered one and the same agreement, and shall become a binding agreement
                                            when one or more counterparts have been signed and delivered to each of the parties.

 

		42.	Exhibits. The following exhibits
                                            or riders are made a part of this Lease and are incorporated herein by reference:

 

Rider One - Environmental

Exhibit A – Legal
Description of the Land and Building Site Plan

Exhibit B - Rules and
Regulations

Exhibit C – Floor
Plan of Premises

Exhibit D – Work Letter

 

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IN WITNESS WHEREOF, this Lease has been
executed by the parties as of the Effective Date.

 

	Lessor:	Lessee:
	 	 
	REdmond East Office PArk, llc	MICROVISION,
    INC.
	 	 
	
    /s/ PAT WILEY

    (SIGNATURE)
	
    /s/ SUMIT SHARMA

    (SIGNATURE)

	 	 
	
    By: Pat Wiley

    (PLEASE PRINT)
	
    By: Sumit Sharma

    (PLEASE PRINT)

	 	 
	Its:  Manager	Its:  CEO
	 	 
	Date:  September 24, 2021	Date:  September 23, 2021
	 	 

 

 

 

 

 

    	 17Exhibit 4.1

 

WARRANT AGREEMENT

 

THIS WARRANT AGREEMENT (this
 “Agreement”), dated as of November 3, 2021, is by and between Semper Paratus Acquisition Corporation, a
Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a
New York corporation, as warrant agent (the “Warrant Agent”, also referred to herein as the “Transfer
Agent”).

 

WHEREAS, the Company is engaged
in an initial public offering (the “Offering”) of units of the Company’s equity securities, each such
unit comprised of one Class A ordinary share of the Company, par value $0.0001 per share (“Ordinary Shares”),
and one-half of one redeemable Public Warrant (as defined below) (the “Units”) and, in connection therewith,
has determined to issue and deliver up to 15,000,000 whole warrants (or up to 17,250,000 whole warrants if the Over-allotment Option is
exercised in full) to public investors in the Offering (the “Public Warrants”). Each whole Warrant entitles
the holder thereof to purchase one Ordinary Share for $11.50 per share, subject to adjustment as described herein; and

 

WHEREAS, on November 3,
2021, the Company entered into that certain Private Placement Units Purchase Agreement with Semper Paratus Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 1,210,000
Units at a purchase price of $10.00 per Unit (the “Private Placement Units”), and in connection therewith the
Company will issue and deliver 605,000 whole warrants to Sponsor, bearing the restrictive legend set forth in Exhibit B (the
 “Private Placement Warrants”); and

 

WHEREAS, on November 3,
2021, the Company entered into that certain Private Placement Units Purchase Agreement with Cantor Fitzgerald & Co., the representative
of the underwriters in the Offering (the “Representative”), pursuant to which the Representative agreed to purchase
an aggregate of 150,000 Private Placement Units at a purchase price of $10.00 per Unit, and in connection therewith the Company will issue
and deliver 75,000 Private Placement Warrants to the Representative; and

 

WHEREAS, to finance the Company’s
transaction costs in connection with an intended initial Business Combination (as defined below), the Sponsor, an affiliate of the Sponsor,
or certain of the Company’s executive officers and directors may, but are not obligated to, loan to the Company funds as the Company
may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 150,000 Units at a price of $10.00 per
Unit, and in connection therewith the Company will issue and deliver 75,000 Warrants (the “Working Capital Warrants”);
and

 

WHEREAS, following consummation
of the Offering, the Company may issue additional warrants (“Post IPO Warrants”; together with the Private Placement
Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection with, or following
the consummation by the Company of a Business Combination (defined below); and

 

WHEREAS, the Company has
filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1,
File No. 333-260113 (the “Registration Statement”) and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the
Public Warrants and the Ordinary Shares included in the Units; and

 

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

 

WHEREAS, the Company desires
to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

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

 

     

     

    

 

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

 

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

 

		2.	Warrants.

 

2.1 Form of
Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall be in substantially
the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile
signature of, the Chairman of the Board of Directors, Chief Executive Officer, Chief Financial Officer, Treasurer or other principal officer
of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity
in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased
to be such at the date of issuance.

 

2.2 Effect
of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement,
a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof.

 

		2.3	Registration.

 

2.3.1 Warrant
Register.

 

(a) The
Warrant Agent shall maintain books (the “Warrant Register”) for the registration of original issuance and the
registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the Warrants
in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant
Agent by the Company. All of the Public Warrants shall initially be represented by one or more book-entry certificates (each, a “Book-Entry
Warrant Certificate”) deposited with The Depository Trust Company (the “Depositary”) and registered
in the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Public Warrants shall be shown
on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each
Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect
to a Warrant in its account, a “Participant”).

 

(b) If
the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct
the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible
for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions
to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct
the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants (“Definitive
Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit A,
with appropriate insertions, modifications and omissions, as provided above.

 

2.3.2 Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the
absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on
a Definitive Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof,
and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

     

     

    

 

2.4 Detachability
of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on the 52nd day following
the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in
New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier (the “Detachment Date”)
with the consent of the Representative, but in no event shall the Ordinary Shares and the Public Warrants comprising the Units be
separately traded until (a) the Company has filed a current report on Form 8-K with the Commission containing an audited
balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the
Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the “Over-allotment
Option”), if the Over-allotment Option is exercised prior to the filing of the Form 8-K, and (b) the Company issues
a press release and files with the Commission a current report on Form 8-K announcing when such separate trading shall
begin.

 

2.4.1 Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 2.4.1 shall have no effect on any transfer of Warrants
on or after the Detachment Date.

 

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

 

2.6 Private
Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants shall be identical
to the Public Warrants, except that so long as they are held by the initial purchasers or any of their respective Permitted Transferees
(as defined below), as applicable, the Private Placement Warrants and the Working Capital Warrants: (i) may be exercised for cash
or on a cashless basis, pursuant to Section 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until
30 days after the completion by the Company of an initial Business Combination (as defined below), and (iii) shall not be redeemable
by the Company; provided, however, that in the case of (ii), the Private Placement Warrants and the Working Capital Warrants
and any Ordinary Shares held by the initial purchasers or any of their respective Permitted Transferees, as applicable, and issued upon
exercise of the Private Placement Warrants and the Working Capital Warrants may be transferred by the holders thereof:

 

2.6.1 the
Company’s officers or directors or those of the Representative, any affiliates or family members of the Company officers or directors
or those of the Representative, any members of the Sponsor or the Representative, or any affiliates of the Sponsor or the Representative,

 

2.6.2 in
the case of an individual, by gift to a member such individual’s immediate family or to a trust, the beneficiary of which is a member
of such individual’s immediate family, an affiliate of such individual, or to a charitable organization;

 

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

 

		2.6.4	 in the case of an individual, pursuant to a qualified domestic relations order;

 

2.6.5 by
private sales or transfers made in connection with any forward purchase agreement or similar arrangements or in connection with the consummation
of a Business Combination at prices no greater than the price at which the shares were originally purchased;

 

2.6.6 in
the event of the Company’s liquidation prior to consummation of the Company’s initial Business Combination; or

 

2.6.7 by virtue of the laws of the State
of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor or the organizational
documents of the Representative, upon dissolution of the Representative; provided, however,
that, in the case of Section 2.6.1 through Section 2.6.5 or Section 2.6.7, these transferees
(the “Permitted Transferees”) must enter into a written agreement with the Company agreeing to be bound by
the transfer restrictions in this Agreement (including provisions relating to voting, the Trust Account and liquidation
distributions described elsewhere in the Prospectus). Notwithstanding the foregoing, with respect to any Private Placement Warrants
held by the Representative and/or its designees, in addition to the foregoing restriction on transfer of the Private Placement
Warrants, the Private Placement Warrants purchased by the Representative and/or its designees shall not be sold during the Offering,
or sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the date of effectiveness of
the Registration Statement or commencement of sales of the Offering, except to any member participating in the Offering and the
officers or partners thereof. Additionally, the Private Placement Warrants purchased by the Representative and/or its designees
shall not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic
disposition of the securities by any person for a period of 180 days immediately following the date of effectiveness of the
Registration Statement or commencement of sales of the Offering.

 

     

     

    

 

2.7 Working
Capital Warrants. The Working Capital Warrants shall be identical to the Private Placement Warrants.

 

2.8 Post
IPO Warrants. The Post IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants
except as may be agreed upon by the Company.

 

		3.	Terms and Exercise of Warrants.

 

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

 

3.2 Duration
of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing on the
later of the date that is: (i) 30 days after the first date on which the Company completes a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business
Combination”), or (ii) 12 months from the date of the closing of the Offering, and terminating at 5:00 p.m., New York
City time on the earlier to occur of: (x) the date that is five years after the date on which the Company completes its initial Business
Combination, (y) the liquidation of the Company in accordance with the Company’s amended and restated memorandum and articles
of association, as amended from time to time, if the Company fails to complete a Business Combination, or (z) other than with respect
to the Private Placement Warrants and the Working Capital Warrants to the extent then held by the initial purchasers or their respective
Permitted Transferees, as applicable, the Redemption Date (as defined below) as provided in Section 6.2 hereof (the “Expiration
Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable
conditions, as set forth in Section 3.3.2 below with respect to an effective registration statement. Except with respect to
the right to receive the Redemption Price (as defined below) (other than with respect to a Private Placement Warrant or a Working Capital
Warrant to the extent then held by the initial purchasers or any of their respective Permitted Transferees) in the event of a redemption
(as set forth in Section 6 hereof), each outstanding Warrant (other than a Private Placement Warrant or Working Capital Warrant
to the extent then held by the initial purchasers or their respective Permitted Transferees in the event of a redemption) not exercised
on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall
cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants
by delaying the Expiration Date; provided, that the Company shall provide at least 20 days’ prior written notice of any such
extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in duration among all
the Warrants.

 

     

     

    

 

		3.3	Exercise of Warrants.

 

3.3.1 Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering
to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised,
or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry Warrants”)
on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant
Agent to the Depositary from time to time, (ii) an election to purchase (“Election to Purchase”) Ordinary
Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive
Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the
Depositary’s procedures, and (iii) payment in full of the Warrant Price for each full Ordinary Share as to which the Warrant
is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the
Ordinary Shares and the issuance of such Ordinary Shares, as follows:

 

(a) in
lawful money of the United States, in good certified check or good bank draft payable to the order of the Warrant Agent or by wire transfer;

 

(b) in the event of
a redemption pursuant to Section 6 hereof in which the Company’s board of directors (the
 “Board”) has elected to require all holders of the Warrants to exercise such Warrants on a “cashless
basis,” by surrendering the Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing
(x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market
Value”, as defined in this Section 3.3.1(b) over the Warrant Price by (y) the Fair Market Value. Solely
for purposes of this Section 3.3.1(b) and Section 6.3, the “Fair Market Value” shall mean
the average last sale price of the Ordinary Shares for the 10 trading days ending on the third trading day prior to the date on
which the notice of redemption is sent to the holders of the Warrants, pursuant to Section 6 hereof;

 

(c) with
respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working Capital Warrant
is held by the initial purchasers or their respective Permitted Transferees, as applicable, by surrendering the Warrants for that number
of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants,
multiplied by the excess of the “Fair Market Value”, as defined in this Section 3.3.1(c), over the Warrant Price
by (y) the Fair Market Value. Solely for purposes of this Section 3.3.1(c), the “Fair Market Value” shall
mean the average reported last sale price of the Ordinary Shares for the 10 trading days ending on the third trading day prior to the
date on which notice of exercise of the Warrant is sent to the Warrant Agent; or

 

		(d)	as provided in Section 7.4 hereof.

 

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

 

     

     

    

 

3.3.3 Valid
Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement and the Amended and Restated
Memorandum and Articles of Association of the Company shall be validly issued, fully paid and non-assessable.

 

3.3.4 Date
of Issuance. Upon proper exercise of a Warrant, the Company shall instruct the Warrant Agent, in writing, to make the necessary entries
in the register of members of the Company in respect of the Ordinary Shares and to issue a certificate if requested by the holder of such
Warrant. Each person in whose name any book- entry position in the register of members of the Company or certificate, as applicable, for
Ordinary Shares is issued shall for all purposes be deemed to have become the holder of record of such Ordinary Shares on the date on
which the Warrant, or book-entry position in the register of members of the Company representing such Warrant, was surrendered and payment
of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except
that, if the date of such surrender and payment is a date when the register of members or share transfer books of the Company or book-entry
system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such Ordinary Shares at the close of
business on the next succeeding date on which the register of members, share transfer books or book-entry system are open.

 

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this Section 3.3.5; however, no holder of a Warrant shall be subject to this Section 3.3.5 unless he,
she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such
person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess
of 9.8% (or such other amount as a holder may specify) (the “Maximum Percentage”) of the Ordinary Shares issued
and outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary
Shares beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise of the
Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable
upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise
or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its
affiliates (including, without limitation, any convertible notes or convertible preference shares or warrants) subject to a limitation
on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of
this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of issued and
outstanding Ordinary Shares, the holder may rely on the number of issued and outstanding Ordinary Shares as reflected in (1) the
Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other
public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or the Transfer Agent setting forth the number of Ordinary Shares issued and outstanding. For any reason at any
time, upon the written request of the holder of the Warrant, the Company shall, within two Business Days, confirm orally and in writing
to such holder the number of Ordinary Shares then issued and outstanding. In any case, the number of issued and outstanding Ordinary Shares
shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates
since the date as of which such number of issued and outstanding Ordinary Shares was reported. By written notice to the Company, the holder
of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified
in such notice; provided, however, that any such increase shall not be effective until the 61st day after such notice is
delivered to the Company.

 

     

     

    

 

		4.	Adjustments.

 

4.1 Share
Capitalizations.

 

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

 

4.1.2 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a
distribution in cash, securities or other assets to the holders of Ordinary Shares on account of such Ordinary Shares (or other
shares of the Company into which the Warrants are convertible), other than (a) as described in Section 4.1.1 above,
(b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary Shares
in connection with a proposed initial Business Combination, (d) as a result of the repurchase of Ordinary Shares by the Company
if a proposed initial Business Combination is presented to the shareholders of the Company for approval to satisfy the redemption
rights of the holders of the Ordinary Shares in connection with a vote to amend the Company’s amended and restated memorandum
and articles of association as provided therein to modify the substance or timing of the Company’s obligation to allow
redemption in connection with the Business Combination or to redeem 100% of the public shares if the Company does not complete the
Business Combination within the period set forth in the Company’s amended and restated memorandum and articles of association,
or (e) in connection with the redemption of public shares upon the failure of the Company to complete its initial Business
Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein
as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after
the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board,
in good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes
of this Section 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution
which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the
Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to
appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends
or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Ordinary Shares issuable on exercise
of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

 

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

 

		4.3	Adjustments in Warrant Price.

 

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

 

     

     

    

 

4.3.2 If
the Company issues additional Ordinary Shares or equity-linked securities for capital raising purposes in connection with the closing
of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share Ordinary Shares (as adjusted
for share subdivisions, share consolidations, share capitalizations, rights issuances, reorganizations, recapitalizations and the like),
with such issue price or effective issue price to be determined in good faith by the Board (and in the case of any such issuance to the
Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or such affiliates, as applicable, prior
to such issuance) (the “New Issuance Price”), (y) the aggregate gross proceeds from such issuances represent
more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business Combination
on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume weighted average trading
price of the Ordinary Shares during the 20 trading-day period starting on the trading day prior to the day on which the Company consummates
its initial Business Combination (such price, the “Market Value”) is below $9.20 per share (as adjusted for
share subdivisions, share consolidations, share capitalizations, rights issuances, reorganizations, recapitalizations and the like), then
the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the New Issuance Price
and the Redemption Trigger Price (as defined below) will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market
Value and the New Issuance Price.

 

4.4 Replacement
of Securities upon Reorganization, etc. In case of any redesignation or reorganization of the issued and outstanding Ordinary
Shares (other than a change under Section 4.1.1 or Section 4.1.2 or Section 4.2 hereof or that solely
affects the par value of such Ordinary Shares), or in the case of any merger or consolidation of the Company with or into another entity
or conversion of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation
and is not a subsidiary of another entity whose shareholders did not own all or substantially all of the Ordinary Shares of the Company
in substantially the same proportions immediately before such transaction and that does not result in any redesignation or reorganization
of the issued and outstanding Ordinary Shares), or in the case of any sale or conveyance to another entity of the assets or other property
of the Company as an entirety or substantially as an entirety in connection with which the Company is liquidated or dissolved, the holders
of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in
the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable upon the exercise of
the rights represented thereby, the kind and amount of shares or other securities or property (including cash) receivable upon such redesignation,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would
have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification or
reorganization also results in a change in Ordinary Shares covered by Section 4.1.1, then such adjustment shall be made pursuant
to Section 4.1.1 or Sections 4.2, Section 4.3 and this Section 4.4. The provisions of this
Section 4.4 shall similarly apply to successive reclassification, reorganizations, mergers or consolidations, sales or other
transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

4.5 Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of Ordinary Shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of Ordinary Shares purchasable at such price upon the exercise of a Warrant, setting
forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event
specified in Sections 4.1, Sections 4.2, Section 4.3 or Section 4.4, the Company shall give written
notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register,
of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality
or validity of such event.

 

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

 

     

     

    

 

4.7 Form of
Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of Ordinary Shares as is stated in the Warrants initially issued
pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any change in
the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued
or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.8 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse
impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company
shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which
shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent
and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment; provided,
however, that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.8 as a result of any issuance
of securities in connection with a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent
with any adjustment recommended in such opinion.

 

4.9 No
Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an adjustment
to the conversion ratio of the Company’s Class B ordinary share (the “Class B Ordinary Share”)
into Ordinary Shares or the conversion of the Class B Ordinary Shares into Ordinary Shares, in each case, pursuant to the Company’s
amended and restated memorandum and articles of association, as amended from time to time.

 

		5.	Transfer and Exchange of Warrants.

 

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

 

5.2 Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the
Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise
provided herein or in any Book Entry Warrant Certificate or Definitive Warrant Certificate, each Book Entry Warrant Certificate and Definitive
Warrant Certificate may be transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor
depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant surrendered
for transfer bears a restrictive legend (as in the case of the Private Placement Warrants and Working Capital Warrants), the Warrant Agent
shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for
the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.3 Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in the issuance
of a Warrant certificate or book-entry position for a fraction of a Warrant.

 

		5.4	Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5 Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

     

     

    

 

5.6 Transfer
of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which
such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore,
each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. Notwithstanding
the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment
Date.

 

		6.	Redemption.

 

6.1 Redemption.
Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company,
at any time while they are exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered
Holders of the Warrants, as described in Section 6.2 below, at the price of $0.01 per Warrant (the “Redemption
Price”), provided that the last sales price of the Ordinary Shares reported has been at least $18.00 per share (subject
to adjustment in compliance with Section 4 hereof) (the “Redemption Trigger Price”), on each of
20 trading days within the 30 trading-day period ending on the third trading day prior to the date on which notice of the redemption is
given and provided that there is an effective registration statement covering the Ordinary Shares issuable upon exercise of the Warrants,
and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.2 below)
or the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to Section 3.1;
provided, however, that if and when the Public Warrants become redeemable by the Company, the Company may not exercise such redemption
right if the issuance of Ordinary Shares upon exercise of the Public Warrants is not exempt from registration or qualification under applicable
state blue sky laws or the Company is unable to effect such registration or qualification.

 

6.2 Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants, the Company shall fix a
date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than 30 days prior to the Redemption Date (the “30-day Redemption Period”)
to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice
mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received
such notice.

 

6.3 Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3.3.1(b) of
this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof
and prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants
on a “cashless basis” pursuant to Section 3.3.1, the notice of redemption shall contain the information necessary
to calculate the number of Ordinary Shares to be received upon exercise of the Warrants, including the “Fair Market Value”
(as such term is defined in Section 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder
of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.4 Exclusion
of Private Placement Warrants and the Working Capital Warrants. The Company agrees that the redemption rights provided in this Section 6
shall not apply to either (a) the Private Placement Warrants or the Working Capital Warrants if at the time of the redemption
such Private Placement Warrants or Working Capital Warrants continue to be held by the initial purchasers or any of their Permitted Transferees,
as applicable, or (b) Post IPO Warrants if such Warrants provide that they are non-redeemable by the Company. However, once
such Private Placement Warrants and Working Capital Warrants are transferred (other than to Permitted Transferees under Section 2.6),
the Company may redeem the Private Placement Warrants and the Working Capital Warrants, provided that the criteria for redemption are
met, including the opportunity of the holder of such Private Placement Warrants or Working Capital Warrants to exercise the Private Placement
Warrants and the Working Capital Warrants prior to redemption pursuant to Section 6.3. Private Placement Warrants and Working
Capital Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement
Warrants or Working Capital Warrants and shall become Public Warrants under this Agreement.

 

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

 

7.1 No Rights as Shareholder. A
Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the Company, including, without
limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to
receive notice as shareholders in respect of general meetings or the appointment of directors of the Company or any other
matter.

 

     

     

    

 

7.2 Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or
destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost,
stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3 Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares
that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

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

 

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

 

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

 

     

     

    

 

		8.	Concerning the Warrant Agent and Other Matters.

 

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

 

		8.2	Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1 Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving 60 days’ notice in writing to the Company. If the office of the Warrant
Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent
in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified
in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the
County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether
appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good
standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise
corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Warrant
Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with
like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary
or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to
such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any
successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

8.2.2 Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any such appointment.

 

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

 

		8.3	Fees and Expenses of Warrant Agent.

 

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

 

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

 

     

     

    

 

		8.4	Liability of Warrant Agent.

 

8.4.1 Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer, Chief Financial Officer, Treasurer, or Chairman of the Board of the Company and
delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant
to the provisions of this Agreement.

 

8.4.2 Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to
indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees,
for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s
gross negligence, willful misconduct or bad faith.

 

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

 

8.5 Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently
account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares through the exercise
of the Warrants.

 

8.6 Waiver.
The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date
hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and all
Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

		9.	Miscellaneous Provisions.

 

9.1 Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns.

 

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

 

Semper Paratus Acquisition Corporation

767 Third Avenue, 38th Floor

New York, New York 10017

Attention: Basil Ben Baldanza

Email: bbaldanza@gmail.com

 

     

     

    

 

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

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New York, NY 10004

Attention: Account Administration

 

in each case, with copies to:

Reed Smith LLP

599 Lexington Avenue New York, NY 10022

Attn: Ari Edelman, Esq.

Email: aedelman@reedsmith.com

 

and

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, New York, 10022

Attn: General Counsel

 

and

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

Email: sneuhauser@egsllp.com

 

9.3 Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the
laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in
any way to this Agreement, including under the Securities Act, shall be brought and enforced in the courts of the State of New York or
the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be the exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum. Notwithstanding the foregoing, (i) the provisions of this paragraph will not
apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district
courts of the United States of America are the sole and exclusive forum. We note that there is uncertainty as to whether a court would
enforce this provision and that investors cannot waive compliance with the federal securities laws and the rules and regulations
thereunder. Section 22 of the Securities Act creates concurrent jurisdiction for state and federal courts over all suits brought
to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder.

 

Any person or entity
purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum
provisions in this Section 9.3. If any action, the subject matter of which is within the scope of the forum provisions above,
is filed in a court other than a court located within the State of New York or the United States District Court for the Southern
District of New York (a “Foreign Action”) in the name of any warrant holder, such warrant holder shall be
deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New York
or the United States District Court for the Southern District of New York in connection with any action brought in any such court to
enforce the forum provisions (an “Enforcement Action”), and (y) having service of process made upon
such warrant holder in any Enforcement Action by service upon such warrant holder’s counsel in the Foreign Action as agent for
such warrant holder.

 

     

     

    

 

9.4 Persons
Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person or corporation
other than the parties hereto and the Registered Holders of the Warrants, and for the purposes of Section 7.4 (Registration
of Ordinary Shares; Cashless Exercise at Company’s Option), Section 9.4 (Persons Having Rights under this Agreement)
and Section 9.8 (Amendments) the Representative, any right, remedy, or claim under or by reason of this Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed to be a third-party beneficiary of
this Agreement with respect to Section 7.4, Section 9.4, and Section 9.8. All covenants, conditions,
stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and
the Representative with respect to Section 7.4, Section 9.4, and Section 9.8) and their successors
and assigns and of the Registered Holders of the Warrants.

 

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

 

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

 

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

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any ambiguity,
or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the Registered Holders. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the vote or written consent of the Registered Holders of a majority of the
then outstanding Public Warrants. Any amendment solely to the Private Placement Warrants or the Working Capital Warrants shall require
the vote or written consent of a majority of the holders of the then outstanding Private Placement Warrants and the Working Capital Warrants.
Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections
3.1 and Section 3.2, respectively, without the consent of the Registered Holders.

 

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

 

[Signature Page Follows]

 

     

     

    

 

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

 

	 	SEMPER PARATUS ACQUISITION CORPORATION
	 	 	 
	 	 	 
	 	By:	/s/ Philippe J. Kurzweil
	 	Name:	Philippe J. Kurzweil
	 	Title:	Chief Financial Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 	 
	 	By:	/s/ Douglas Reed
	 	Name:	Douglas Reed
	 	Title:	Vice President

 

[Signature Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

[Form of Warrant Certificate] 

[FACE]

Number

Warrants

THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

SEMPER PARATUS ACQUISITION CORPORATION

Incorporated Under the Laws of the Cayman Islands

 

CUSIP G8028L 107

 

Warrant Certificate

 

This
Warrant Certificate certifies that [●], or registered assigns, is the registered holder of warrant(s) evidenced
hereby (the “Warrants” and each, a “Warrant”) to purchase Class A ordinary shares, of $0.0001
par value per share (“Ordinary Shares”), of Semper Paratus Acquisition Corporation, a Cayman Islands exempted
company (the “Company”). Each Warrant entitles the holder, upon exercise during the period set forth in the
Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable Ordinary Shares as set forth
below, at the exercise price (the “Warrant Price”) as determined pursuant to the Warrant Agreement, payable
in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United States
of America upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of the Warrant Agent referred
to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but
not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole Warrant is initially
exercisable for one fully paid and non-assessable Ordinary Share. No fractional shares will be issued upon exercise of any Warrant. If,
upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share, the Company will, upon
exercise, round down to the nearest whole number of Ordinary Shares to be issued to the Warrant holder. The number of Ordinary Shares
issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

The initial Warrant Price
per Ordinary Share for any Warrant is equal to $11.50 per share. The Warrant Price is subject to adjustment upon the occurrence of certain
events set forth in the Warrant Agreement.

 

Subject to the conditions set
forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end
of such Exercise Period, such Warrants shall become void.

 

Reference is hereby made to
the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes
have the same effect as though fully set forth at this place.

 

This Warrant Certificate shall
not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

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

 

	 	SEMPER PARATUS ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

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

 

     

     

    

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced by
this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Ordinary Shares and
are issued or to be issued pursuant to a Warrant Agreement dated as of [●],2021 (the “Warrant Agreement”),
duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York limited purpose trust company
(the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this
instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder
of the Warrant Agent, the Company and the holders (the words “holders” or “holder”
meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by
the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have
the meanings given to them in the Warrant Agreement.

 

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

 

Notwithstanding anything else
in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration
statement covering the Ordinary Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder
relating to the Ordinary Shares is current, except through “cashless exercise” as provided for in the Warrant Agreement.

 

The Warrant Agreement provides
that upon the occurrence of certain events the number of Ordinary Shares issuable upon exercise of the Warrants set forth on the face
hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive
a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number of Ordinary Shares
to be issued to the holder of the Warrant.

 

Warrant Certificates, when
surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement,
but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate
a like number of Warrants.

 

Upon due presentation for
registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates
of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this
Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental
charge imposed in connection therewith.

 

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

 

     

     

    

 

Election to Purchase

 

(To Be Executed Upon Exercise of Warrant)

 

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

 

In the event that the Warrant
has been called for redemption by the Company pursuant to Section 6 of the Warrant Agreement and the Company has required
cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable
for shall be determined in accordance with Section 3.3.1(b) and Section 6.3 of the Warrant Agreement.

 

In the event that the Warrant
is a Private Placement Warrant or Working Capital Warrant that is to be exercised on a “cashless” basis pursuant to Section 3.3.1(c) of
the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section 3.3.1(c) of
the Warrant Agreement.

 

In the event that the Warrant
is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of Ordinary
Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement.

 

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

 

[Signature Page Follows]

 

     

     

    

 

Date: [●]

 

	 	 
	 	(Signature)
	 	 
	 	(Address)
	 	 
	 	(Tax Identification Number)

 

	Signature Guaranteed:	 

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad- 15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY
SUCCESSOR RULE)).

 

     

     

    

 

EXHIBIT B

LEGEND

 

“THE OFFER AND SALE OF THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT
BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE
STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED
IN THE LETTER AGREEMENT BY AND AMONG SEMPER PARATUS ACQUISITION CORPORATION (THE “COMPANY”), SEMPER PARATUS SPONSOR LLC AND
THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS
30 DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT
AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING
WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE AND CLASS A
ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS
AGREEMENT TO BE EXECUTED BY THE COMPANY.”

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